kiwi bot is a berkley based start up. they pair robots with restaurants in san jose. we report on how business owners, they are saying this is a potential life line during the pandemic. >> on the day skies turned orange across the bay area, and an abc7 photo journalist captured this scene, about a dozen robots rolling through downtown. we were led here to paper moon cafe, where take-out, meets tech. he turned to kiwi bot, the delivery robot start up, providing people with a contactless experience. >> the pandemic has been able to help us realize this stuff and incorporate our ability to put the robots in our lives. >> they bat their eyes and keep contents locked inside until they reach the right customers. the owner said that clean energy was the inspiration. >> what we create is a solution for us as a society. in the last six months, definitely our pipeline has grown. >> his robot crew eliminates person to person contact. keeps people inside to avoid smokey air, and helps small businesses. >> well, we have done well, we had to figure out how to get established in the

bay,eliverwitht kiwi bot is a berkley based start up. they pots with restaurants in san jose.siness owners, they are saying this is a potential life line during the pandemic. >> on the day skies turned orange across the bay area, and an abc7 photo journalist captured this scene, about a dozen robots rolling through downtown. we were led here to paper moon cafe, where take-out, meets tech. he turned to kiwi bot, the delivery robot start up, providing people with a contactless experience. >> the pandemic has been able to help us realize this stuff and incorporate our ability to put the robots in our lives. >> they bat their eyes and keep contents locked inside until they reach the right customers. the owner said that clean energy was the inspiration. >> what we create is a solution for us as a society. in the last six months, definitely our pipeline has grown. >> his robot crew eliminates person to person contact. keeps people inside to avoid smokey air, and helps small businesses. >> well, we have done well, we had to figure out how to get established in the middle of a pandemi

futures pretty flat with kiwi stocks falling 0.5%.s as we saw kiwi stocks at a three week i. -- week high. f 1%.i futures up 1/10 o richard clarida says the u.s. economy still in a deep hole. we discuss. this is bloomberg. ♪ haidi: you are watching "bloomberg daybreak: australia." a u.s. judge will hear tiktok's call for president trump's ban to be halted thursday. chinese media say the oracle deal is "a dirty and underhanded trick." forcing an unreasonable deal on a legitimate company. the global times calls the oracle deal a gambit and accuses washington of extortion. the u.s. is tightening sanctions on cuba. travelers will no longer need to be allowed to bring home cigars and rum at hotels owned by the government. the president says the new measures will ensure u.s. dollars don't flow into cuban authorities, but reach ordinary people on the island. cuban expats are a crucial voting bloc in florida. leader claims he has enough support to form a government. the prime minister rejects that and is challenging him to prove his claim. ma

kiwi stocks rising for the third day.eering services firm pricing its ipo at one hong kong dollar per share. australia, potentially looking at a bounceback with energy leading the drop. w t i remaining under pressure. bonds, theg in on three year fell below zero for the first time. kiwi yields edging higher. .reasury futures lower let's get a snapshot of iron ore. a choppy wednesday session. city is seeing a range of 100-100 $20 for the rest of the year on chinese steel demand. flipping the board for a stock to watch. on aone is on the radar report that a chinese developer is scrapping a late stage deal for a plot in southwest sydney. between beijing -- we are going to get updates from paul allen little later. up, continuing a push into the wealth management space. the biggest banks look for an exit. this is bloomberg. ♪ ♪ >> australia's wealth management sector has seen a series of scandals. the shakeup continues with a -- thatdollar deal transforms it to the biggest wealth manager in the country. the ceo joins us from m

watching for whether that continued rally in the kiwi dollar can gain momentum.remarks from the governor have given it a little bit of a downside for the kiwi. news get to the first word with karina mitchell. wherestart in the u.s. the jobs market seems to have stalled with initial jobless claims unchanged. continuing claims rose. declinehad projected a in both numbers. the data points to people staying out of work for longer. president trump has made it clear there will be no extension for a deadline to sell tiktok's u.s. operations despite report they were negotiating a delay. they have until september 15 two agree to a sale or the app will be banned in the u.s. upwe will either close tiktok in this country for security reasons or it will be sold. i am not extending deadlines. it is september 15. >> microsoft says it has detected a series of cyberattacks disrupting the u.s. election. chinese,rom russian, and iranian hackers. microsoft says the chinese group targeted joe biden while the russian group cast its disruptions more widely. wildfires continue to rage a

over in new zealand, kiwi stocks adding .3%. the kiwi dollar holding below 67.eek decline, as we see negative rates -- bets climb for new zealand. quickly checking in on what is going on ahead of the fed's meeting, checking in on u.s. 10 year yields. we are seeing at hold below 67 basis points. this as traders are getting doubtful about whether the fed can drive inflation higher. we are seeing oil trade near three-month lows. bp calling the end of an era when it comes to demand growth, looking relentless. we are seeing nasdaq futures gain more than 1%. this after the worst week for the index since march. markets have the latest of elements around tiktok. this as microsoft says that its offer had been reflect -- been rejected. shery: that is really topping our news right now. that war not only over tictac but -- tiktok, but we chat. chairman. is of dowson investments she joins us on the line from santa monica, california. thank you for joining us. we don't have any clear information of how the sale look. bloomberg has learned it could be more of a corporate restr

but kiwi rises are under pressure. the asx 200 rising 0.2%. check of where we are with asian stocks. fairly resilient they outpaced global peers and the nasdaq, which has been smacked down by the tech downturn. goldman warning a bump ahead for asian equities. overweight on chinese and korean stocks as well as tech, customer retail and the health care space. the tech space feeling the love with a string of ipo's this week more potentially in the pipeline. haidi? haidi: in the meantime the fed wants to create more inflation. don'tof policy decisions shed light as to how they plan to get there. the bank of japan has been trying to do the same for years. our next guest says multiple factors are converging to stress test disinflation would let's bring in eleanor creagh. you take a look at the treasury markets where breakevens have been. there is a lack of conviction on how this targeting framework is going to be effective for the fed. we know where the boj is in terms of how successful their efforts have been. do you think there is a false sense of

sydney futures higher, japanese futures higher, but kiwi stocks are under pressure. bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪ haidi: a very good morning. i am haidi stroud-watts in sydney and we're counting down to the asian market open. shery: i am shery on in new york. our top stories at this hour. asian futures topped a modest gains. u.s.tors are analyzing jobs data and central bank statements that reflect a fragile economic recovery. the u.s. treasury, oracle and tiktok

we are looking at that rally in the kiwi.ould receive a little bit of an excuse for a breather from this speech, but expectations are for that rally to extend into the medium-term. we will continue to watch that, orr, saying the policy at least regrets approach the policy-setting. we continue to watch and listen live. lots more to come. this is bloomberg. ♪ >> a new survey in hong kong suggests police trust -- public trust in the police is collapsing. this, after new security laws weren't posted by china. we discuss what this means for hong kong. thank you so much for joining us. we are marking two months since the national security law was enforced. the police have said there is zero tolerance for illegal acts and enforcement actions will be taken accordingly. is a police force in a position to maintain law and order and work towards restoring public confidence? >> i think so. because if you look at what has been happening over the past the public order situation in hong kong is not looking well. obviously, there is an urgen

kiwi stocks up by 4/10 of 1%.y looking to open up about 0.7%, judging by the futures session we are seeing. in japan, the nikkei 225 trading in chicago modestly higher with the yen potentially tempering some of those gains. coming up next, nancy pelosi the white house will have to agree to much more spending if the stimulus deal were to be reached before the election. we will get the latest on the wrangling from washington, just ahead. this is bloomberg. ♪ karina: i am karina mitchell. china's leaders will meet next month to finalize the latest five-year plan as president xi prioritizes innovation and domestic demand to counter the threat of decoupling from the u.s. theoctober 26 to the 29 for meeting to discuss development 2025 as well1 to as longer-term goals. that has sparked speculation that xi intends to stay in power beyond his normal term. the eu says it will not abandon brexit talks with the u.k. even if the boris johnson government retains its plans to break international law. the two sides resumed withdr

and, you know, he was a kiwi, a proud kiwi. but he lived in london all his life.all over the place. he led sport as a coach and a captain. notjust rugby, he was a very good tennis player. so, those worlds, the sporting worlds and the london community world, perhaps i didn't know so much about. but as a police officer, so many people knew how good he was. he is going to be sorely, sorely missed. finally, it is police memorial day, and we are remembering the officers who have been lost. the police are under a lot of pressure at the moment, and they are bearing a lot of that pressure. is there anything we need to be thinking about, just generally, about improving the safety that they have when they do theirjobs? so, policing is a profession in which people expect to put themselves in front of other people. they see that as their duty. to protect people and to help people. and to, on a daily basis, respond to completely unknown situations and assess risks, and manage that risk. and i think the main thing i would say is, if some good can come out of this terrible incid

stockck losing -- kiwi losing ground.is weekend not much change expected. looking closely at what is happening on the global economic front. we have heard from brian moynihan saying the u.s. economy is 95% back but another round of stimulus is needed for a full recovery. he told bloomberg where he believes support is most needed to bring back the last 5%. our research team is the u.s. is down 4% for the year and next year will be up 5% or so but the key is to think about it put up a quarter. you had a deep drop in economy last quarter and you are back up to where 95% of the economy is basically restored. behind will work out but that was 1% to 2% growth economy so the idea of recovering the last five percentage points, it will take a while. estimate has gotten better rather than worse because consumer activity stay strong. fiscal stimulus, monetary stimulus, the programs the fed government the administration and congress and what the fed did, they filled the whole to bring -- filled the hole to bring the economy back up.

kiwi stocks gaining ground ahead of the rba rate decision.se expected to keep policy on hold after its latest meeting later today. we will be trying to glean some signaling as to where it is saddening -- where it is heading next. kathleen is here. asian or has said they are preparing a package of other policy measures that can be used in the coming months. we will be looking for details about negative rates. kathleen: i am not so sure. i think he will say something about negative rates but he also make the referring to a somewhat broader set of tools that will be employed if needed. the rbnz is.here , down tobig surprise 0.25%. that is the white line. it is interesting how the two-year note yield is seeming to anticipate or open the door to those negative rates. and finance minister grant robinson, a great interview we had right here on bloomberg television, saying the rbnz at gdp reboundr the which he is looking for. he said that people thought maybe they will not sound so easy at this meeting. he said nevertheless they will consider that in

against the point, and against the kiwi, against the -- pound, against the kiwi, and against the yen.down, yen up. yen is behaving much more classic. trade relative to gold in treasuries, morgan stanley says you are only halfway there. jovi, i'mlling bon channeling morgan stanley's equity note in terms of 23% drop on the nasdaq market. now, it is a $250 million date. that is the cost of this lockdown you have been talking about in the u.k. the business of economics and resource says this. they warned the danger and gdp could be as much as 3% to 5%. dani burger has been crunching the numbers and the details in terms of the scenarios spelt out . what is the story? >> let's be clear. their view is only with the 10 -- 10:00 p.m. curfew. there are not assuming we will have another full second down. but they look debt that china cracked curfew we saw in the northeast of england. the price tag was 70 million per day. you extrapolate that out and that is were you get the 250 million pounds per day figure. clear, that isbe only a 10th of the total cost we saw in the peak of april. and when it

in new zealand, we are seeing the kiwi dollar under pressure after a three-day advance while kiwi stockse third of 1%. this is ahead of the pre-election update due from new zealand later today. switching of the board for some stocks to watch this wednesday, insole, neighbor is on the radar after it led an investment round. $900sel values it at over million. , nneka 229 this on reports that it is looking for exclusive talks for the lion dairy operations in australia. more potential m&a on the horizon. a pickup of that pace going into 2021. in the mining corner, we are watching after the stock was upgraded at barclays and jp morgan. the mining on watch. this as it says it does support a proposed moratorium related to cultural heritage protection. turning to japan to see how nikki futures in singapore have started off the session, we are seeing a move lower by about 65 points. while the yen is trading near a two-week high, this as we anticipate some dollar weakness if we get a dovish message from the fed later this wednesday. when it comes to the parliamentary vote in japan, it will likely

we saw the kiwi dollar leading gains among g10 currencies. now dialing back covid-19 restrictions. that actually also is a similar story playing out in south korea that led to the south korean won theing as well as government there relaxed social distancing rules. futures under a little bit of pressure. we have the rba september meeting minutes. the aussie dollar a little bit of strength in the last two days or so, rising against the usd on a weaker greenback but higher commodity prices. watch out for those minutes and a discussion around further easing policies. and of course a reminder that the bloomberg green festival continues, focusing on core issues of climate action. tuesday's lineup includes the phillips ceo. plenty more ahead on "daybreak: asia." this is bloomberg. ♪ >> good morning. we are counting down the asian major market open. shery: welcome to daybreak asia. , a bid for emerge tiktok u.s. operations which faces a national security review and must win the blessing of trump. i'm studying the feasibility of a mega merger.

discussion breaks from rbnz is creating some premium advantage when it comes to trading in aussie kiwirning. city futures modestly positive, setting up for a flat, just a little higher at the citi open. let's turn to japan where the ruling party kicks off its campaign for a new leader later. continuing to assess shinzo abe's legacy. andreea joins us now. positive reviews for his corporate governance reforms. andreea: that's right. investors are held hurting the support ushered in by shinzo abe. you have seen the topics almost abele in the 7.5 years that has been in power. among the things he did better notable -- that are notable is unleash constitutional investors to increase profitability and capital efficiency. this is a country where traditional investors have been very hands-off. he's created this corporate governance for companies. what this did is really make japanese companies become more anditable, less insular more rewarding as an investment. we have seen profit margins and the topix index higher at the end of last year compared to the end of 2012. return on equity has climbe

the kiwi dollar also strengthening at the moment. it has come under pressure.negative rates. sydney futures unchanged. nikkei futures up .7%. and of course we are watching japan very closely as they have their ruling voting on a successor to prime minister shinzo abe. coming up in the next hour, we will take a look at the upcoming election for shinzo abe's replacement with former japanese ambassador to the u.s., inchiro fujisaki. this is bloomberg. ♪ ♪ give you my world ♪ ♪ how can i, when you won't take it from me ♪ ♪ you can go your own way ♪ ♪ go your own way your wireless. your rules. only with xfinity mobile. ♪ >> good morning. it we are counting down to asia's market. stories, softbank pushes to go private. it seals the deal to sell chipmaker arm, the division remains among the senior ranks. japan's ruling party picks a new leader today, frontrunner yoshihide suga

when it comes to kiwi stocks, down 2/10 of 1%. rbnz rate decision holding steady.ng into the negative. seeing a global selloff and adding to that global selloff as downturnue to see more over u.s. stimulus package. we have seen a parade of fed officials asking for the package in order to get the u.s. economy into a solid recovery. fed chair richard clarinet speaking to bloomberg earlier saying the central bank will itps rates near zero until achieves 2% inflation and full employment. >> what we are saying quite simply is perhaps in a normal recession or if we were back in february, obviously getting to 2% and moderately exceeding 2% would be in our forecast horizon. because of the depth of the shock, the economy as to recover. that recovery relative to the last downturn will occur within about three, three plus years. i do we get to that point, overshooting is just an academic point. we went to get the economy to 2% maximum emplacement along with full employment. we think that can happen. fund manager after fund manager as come on the show and says we are at risk o

the dollar largely higher against the g10 we saw declines in the kiwi as well as the aussie really pacing these kind of risk declines so it did feel like they were not haven bids for yen and gold. we saw crude falling back a little bit along with gold. sophie. sophie: joining us now for more on the markets is the portfolio manager, louis lau. where areion shift, you seeing the opportunity when it comes to beaten-down sectors? is quitek it interesting. i think investors are getting tired of the high valuations in technology and beneficiaries of the pandemic so in terms of where we think funds can shift to, banks definitely deserve a second look at some of the provisions might be coming off next year from loan losses. energy can be another area that could be beneficiary and within industrials, auto stocks could also be a place where some of the funds could go into, especially for car companies that are expected to beef up the electric vehicle lineup. tohie: calls to allocate ems, those have ramped up. pulling up the chart in asia to see what has been going on in china across the board in as

we are seeing kiwi stocks down, flat, erasing earlier gains.discuss what is happening in the markets with the head of asian strategy at macquarrie capital. we have seen this global rally after a breather in the last couple of weeks. the question of the day from our log. which of the best equities to figure out which way stocks will go? >> i think the most important issue is disinflation/inflation. for two decades in a largely disinflationary world. the question is, all of this fiscal and monetary stimulus we have injected, will it create inflation? the more inflation you have in a system, the more inflation comes through, the more value stocks are likely to rebound. so that is a key question, disinflation to inflation. are we still residing any this inflationary world -- d isinflationary world? ,f so, quality growth thematic's will continue to perform as 20 years. the instruments you look at. shery: victor, what about the narrative of the pandemic resilience stocks? like the tech giants? the new economy stocks? i guess the old economy sect

starbucks has announced that it will add two new drinks to its menu, including a kiwi starfruit refresherwas going to be marianne williamson's secret service code name. call back to marianne williamson. [ laughter ] you never thought, all it took was a kiwi starfruit refresher to get her back on the radar according to a new survey, almost half of young people would not date someone who doesn't recycle. said a single man, "well, you're in luck, 'cause i've been wearing the same shirt for five months." researchers in botswana believe that painting eyes on the backsides of cattle may help protect them from lion and other predators, 'cause it's horrifying when they go to the bathroom "oh, my god. ahh, what's wrong with that cow? oh, i should definitely not be eating that cow. and finally, the girl scouts announced a new french toast flavored cookie for 2021 called toast-yay. and for 2020 they announced gin mints. we got a great show for you tonight with two of my favorite guests the fantastic sandra oh will be here plus, from "cbs this morning," i'll chat with gayle king. but first, "a closer

you know what people will say, i know new zealand well and i am half kiwi myself people say that newn its favour, it is a special case. zealand has factors in its favour, it is a special caselj think that is untrue. australia, outside of victoria and new south wales were basically eliminated, aside from those two states, the rest of australia is in the same situation as us. taiwan, 20 plus million people is at or close to elimination. cambodia... there are a number of countries that have done so i think it is incorrect to say that new zealand is a special case. it is interesting. i know there was clear leadership that and clear messaging but it is not necessarily a given that the population gets behind that and people get on board. no. that is true and i think we have been incredibly fortunate to have excellent leadership. they have taken the public with them and they have communicated well. a very clear strategy, right from early on, that elimination was our goal to did there has also been incredible respect for the science from politicians. they listened to the epidemiologists and,

kiwi stocks at the moment, losing 0.6%.anufacturing pmi numbers which came in quite low. currencies right now. the japanese yen has been holding within a trading range. we are talking about the 106 level. not doing much today. alsoffshore he one -- yuan steady. as we continue to see china u.s. tensions. the aussie dollar, a little bit of pressure on u.s. strength. we have some safe haven moves. on weakening after seeing gains in the previous session. ing marketen emerg currencies gaining. rates unfold suggesting the worst is over for the southeast asian economy. this is bloomberg. ♪ ♪ ♪ ♪ ♪ the big events are back. xfinity is your home for the return of live sports. more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you bu

watching the aussie and kiwi dollars. we saw the u.s.ollar strengthening to the highest in five weeks in the overnight session. repeating that the u.s. economy needs more support and has a long road to travel before it will fully recover from the coronavirus fallout. it was another comment that shook markets today. the chicago fed president signaled the policymakers may start raising rates before inflation hit 2%. that sent the dollar higher. aaron gives his joining us. those comments added to the support that we have already seen in the dollar in this risk off week. what do you make of those comments and what does not apply for the market? -- imply for the market? when we saw the initial -- no increase until 2020 three, investors were concerned that that might be too late. -- lengthy. this was assurance that they may bring up rates. it's not only good for the also something that reassures americans that all is not lost for the next three years. that there is hope particularly for the banks with those low interest rates being such a larg

kiwi stocks now gaining ground and reversing yesterday's losses while aussie futures are also higher.s gaining. we see the japanese yen holding steady all week. withg up, we will speak the wells fargo ahead of security strategy about the security market. come. more to this is uber. -- this is bloomberg. ♪ verye: haidi: -- haidi: good morning. i am haidi stroud-watts in sydney. shery: our top stories this hour, asia looks set for tentative gains after a roller coaster ride on wall street. markets are weighing possible stimulus talks. u.s. stocks jumped on hopes of a resumption before that optimism drained away.

kiwi stocks trading higher by about .4%.scuss the trading outlook with mark cranfield. great to have you on. clearlly have lacked direction in the global markets for the past few weeks. continuing, at least through october, given the uncertainty of where the geopolitical landscape is? >> i think we can expect more of this. we will have to get used to it. yesterday was a good example of what we will have to put up with. you see how u.s. stocks traded yesterday. u.s. data about jobs, which wasn't too good. stocks reacted badly to that. optimism there would be a stimulus package between the democrats and republicans, although that hope seems to be fading. and the back and forth over the u.s. presidential election. whether or not we will get a virus solution before the election or after. all of those things are battering people during the day. the ebb and flow between people wanting to buy and sell. this will go on for a while. it will be hard for people to make a clear conviction on where they want to go until they get a better

we have the kiwi dollar under pressure.ining ground after the latest report off that contraction for new zealand's economy. that was expected. i want to put up the board to see what is going on with a big picture view. we have investors overweight u.s. especially in the tech space. are close to capturing a record share of the msci road index. -- msci world index. but one analyst is recommending shifting gears, claiming that he sees u.s. stocks underperforming stocks in the e.u. next year. investors leaning into the growth scheme. checking in on some movers, we want to mark reaction to softbank. neighbors saying they would like to take my encore private. some shareholders -- take lie encore private. they squeeze out may be in the works. the proposed move was announced in november as part of efforts at softbank to compete with global tech giants like google and tencent so this is reaction to that news this morning, haidi. haidi: something to watch for. sophie kamaruddin there in hong kong. let's get more on the markets. we ar

steven major who i know you talk aussie anduld say kiwi set the precedent for the rest of the world into1. what does this narrative say to you from australia? stephen: one of the primary drivers of australia, and being on a canadian bank we look at aussie quite a lot, one of the key drivers of relative outperformance of the aussie for at least a portion of this year has been the rise in copper prices. again, you have to look through some of the noise and try to think about where that strength and compromise has been coming from. it really has been coming from significant increases in chinese imports of copper. that again .2 to the fact there have been significant state levers pulled in china to reflate asset prices, boost the industrial sector. that is what we have seen in the chinese data. though the economy has recovered quite significantly if you look at, you go by the official data, what youators and would call the hard data, the economy has improved, but there has been a divergence between the industrial sector of the economy and of course the consumption, the private consumption ar

increasingly concerns about the impact on the country's fiscal health as well as taking a look at the kiwi, we are seeing that at negative rates, potentially as soon february. the nikkei trading pretty flat going into the bank of japan decision. the incoming prime minister could be feeling pretty comforted by the fact that we are looking at the fact that no modern japanese leader taking over from a long serving premier has seen stocks fall on their watch, but potentially, that rally could continue on equities. sydney futures higher at the moment. the dollar holding at 73.05 after what was really just some side words -- sideways trading ultimately in the dollar index. we are getting three more years of euro rates in the u.s. let's take a listen to what fed chair powell had to say. >> we believe that particularly this very strong forward guidance, very powerful forward guidance we have announced today will provide strong support for the economy. effectively, we are seeing that rates will remain highly accommodative until the economy is far along in its recovery and that should be a powerful

kiwi stocks are up. trading infutures chicago can flat. korean markets on a public holiday.his is the last day of trading for mainland china before they go on the golden week holiday. sidney futures are lower. the aussie dollar, broad-based dollar weakness overnight. it is skipping ahead. the top story, the face-off between donald trump and joe biden. we are just hours away from the first presidential debate. there has been no shortage of contentious topics. china policy is expected to be front and center as well as the pandemic response. joe biden is still maintaining a lead in the polls. plenty is at stake over crucial swing vote. kevin cirilli is on the ground with all the action to come and cleveland. great to see you there. tell us about the mood where you are. what are the main issues and what is at stake. >> the mood is there is some socially distanced palpable anticipation outside of the cleveland clinic ahead of the first presidential debate. there has been some political talk being thrown around. they are talking about earpieces and whatnot. where it ishis is an op

kiwi stock up .1% as we continue to talk about negative rates week,into the rbn z this sidney futures, .6% optimistic as we continue to sate or case numbers out of continuetrending -- we to seek case numbers out of victoria lower, just 11 cases, the right direction in terms of lifting restrictions. the aussie dollar holding steady 0.7290. australia is expecting jobs bounce back we discussed the likelihood as virus cases in victoria fall to their lost in months. this is bloomberg. ♪ look here, it's your very own all-in-one entertainment experience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no extra cost. this baby is the total package. it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnificent. xfinity x1 just got even better, with peacock premium included at no additional cost. no strings attached. >> you're watching "bloomberg daybreak: australia." we begin with tiktok. the chinese owner of the

took it one step further -- david remsen saying the boe can step up the kiwi pace significantly if neededonomy might unlock more than 1.5% of growth permanently. ne will give you a update on these headlines heading into the european close. this is bloomberg. ♪ alix: time now for futures and focus. we will look at the volatility ahead of the u.s. election, priced as the worst risk event in this futures history. joining us now with more is cameron crise, bloomberg macro strategist. walk us through the pricing as we had to november. cameron: vix futures cell into into the vix,l which reflects volatility futures for the next 30 days. this will reflect option volatilities through an extent tolid -- from mid late november. we can compare pricing of those october futures with those on either side temporarily, so and november. normally that slope in the curve is pretty linear, but that is not the case at the moment. example, those september one 28.4re trading at constructnow, you can a little structure that basically compares the difference of that middle future to those on either side, called th

we are seeing kiwi stocks gaining .2%, after two sessions of gains already.%. september house prices are out of australia, watching for that, and japan, the survey, watch for those as well. we get the outlook on currencies and we aren sachs, focusing on the japanese economy with an economics professor and former boj monetary policy board member. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. asia. welcome to daybreak shery: we are counting down to the major market opens. stimulus sendss. wall street higher with the s&p 500 passing a key level that could herald more gains. the index closed above its 50 day moving average after purportedly trying and faili

couple things stuck out to me in today's meeting clearly they didn't give us any formal guidance on kiwi. i think there was some home that there might be some more guidance fort forthcoming there. qe has not worked in terms of getting inflation. they've committed to keeping front end rates lower for as long as it takes i kind it peculiar that they guided unemployment to be 4% by 2023 implicit in that, basically they're saying their policy is going to fail. it's bizarre i think it's a little bit of gamesmanship that's what they do. as long as there's nothing in the headlines that forces them to start tightening, then they can keep playing this game to be supportive that's all good news the bigger message that i see coming from the fed is they're not going to be tapping deals. they're shooting for the moon, inflation. that means the biggest sort of thing for the market is that back end rates could actually surprise us on the upside over the next 3-6 months. we're bullish on growth. we think inflation is coming that means that back end rates could move that will be the single biggest impact

. >> stephen: it's a little kiwi. >> a little bit of something, i'm not sure, not good.n the drain the other>n set stephen. >> stephen: how many times did you do the scene? >> they did my coverage first and by the time they turned to kate she was like, uh... but she's cate. >> stephen: fantastic,. if you watch the movie you might very well be able to tell. maybe not. >> stephen: i will go watch it again. >> will you? >> stephen: everybody turn off the tv right now. turn off "the late show" right now and go watch this movie. >> go watch carol for this magical moment. >> stephen: sarah paulson, lovely to see you. >> really lovely to see you, too. i wish we had more time. i wish you weren't working with so many people who wanted us to end this. >> stephen: i work with awful people! what i'm afraid is it's rubbing off open me and it comes off >>e beenangry this whole inl thksed por to stanowwl difficulties. >> stephen: before the interview started, i couldn't find my pants. i had to walk down broadway with no pants on swinging like chriss evans down broadway, no captain amer

what does that signal to the international investor about the strength of the kiwi economy? concern next signals a point where they have run out of ammo? >> new zealand is not alone in the challenges that a one and 100 year shock provide. those will be issues the central bank bears in mind as they work their way through the next time. the new zealand economy is a robust economy and our exports are up. we are seeing good levels of investment oath overseas and domestically. of things awful lot that change in a short time. to the beinge get in the next year, people will see how the new zealand economy has gone. ratings agencies continue to view us favorably. they know we have a strong balance sheet and disciplined approach. there is an awful lot of water to go under the bridge. >> that was the new zealand finance minister. checking in on the markets. a divergent picture between the shanghai composite, still in the green. the asian general benchmarks looking like that. futures in the u.s. also flat. the s&p futures down 0.2%. that is the picture over and singapore. yvonne. >> we

extending furlough schemes, extending loan guarantee schemes to businesses, may be further rate cuts, more kiwil banks -- more qe from central banks? guest: i think it will. we saw in a previous segment that there is a discussion about how long to keep measures in place. i think they will have to continue with that. negative rates are something that show central banks are very wary. it is hard to escape from it. i think they may be fighting shy of those, but we will certainly see continued qe policies. on the government side, that is a varied picture. according to geography, we have already seen some far-reaching continuation policies off support in continental europe. is in a government position of treading a fine line between maintaining support for sectors that need it, but also creating a situation where a few it what he's may not want to get back to work and are just happy to take the money. that is something they are keenly aware of. you may see shorter-term extensions of these policies rather than putting it through to the end of 2021. but i think the chance that the treasury will feel p

notably pairing steeper early declines of 1% we are still seeing downward pressure on qe's cox -- kiwinews coming out over the lack of shoppers from china. outperforming international markets for a decade, the trend do for a change. etf -- the ceo of an etf provider on the line. theme of u.s.the exceptionalism and have been looking at the dollar weakness, the strength of the recovery coming from china and asia, potentially driving a rotation more into asia and emerging-market. do you see this reversion do five change? >> -- do for a change? is time forlieve it what we call an intermarket reversion. , u.s.he past 50 years markets have exceeded non-us years before5 reverting and having non-us markets dominate for comparable period. now we have a 12 year. two to three times longer and we believe it is due for a correction. we also look at valuation. non-us small caps how to price-to-earnings ratio of 15, and u.s. small caps had a pe greater than 47. relativen the valuation for non-us small caps. u.s.ver the last 12 years, large-cap technology stocks provided 500% return compared to -25% f

take a look at the dollar, still steady, gaining .1%, and we are watching very closely the kiwi dollar after the rbnz at decision and we have come back lower now. kept rates unchanged but they are making progress on additional tools including negative interest rates which is what the market has been pricing in. the yield curve, negative yields. your offer of renminbi is one to watch. we are off some of the highs as well. the pboc setting a weaker than expected fixing for a second day. take a look at this. when it comes to technicals, seems like we are now back above the 50 day moving average, and this is coming off some fed comments we got overnight as well. charles evans making statements like the fed could raise rates before averaging 2% inflation. that led to a spike in the dollars. a lot of questions on whether the dollar can actually correct higher from here does that actually erode some of the sentiment we have seen? when it comes to some of the movers, we will talk more about battery day for tesla. this is what suppliers in asia are doing, all of which are heading lower here. th

ata fx, and taking a look what the aussie dollar is doing, it is one of the big movers, so was the kiwiollar, we continue to see more of these rate cuts from banks in australia. dollar/yen. -- 105. perhaps the pboc a little more comfortable with the moves we have seen given the dollar strength of late. comes took when it treasuries, unchanged, and we will see a democratic sweep in november? we could see a play where u.s. treasury yields could spike 30, 40 basis points in a month. we continue to watch the rba, given the calls, and the 10-year chinese yield sitting around 3.07, given the dollar strength, tom. and, yvonne, used the word "pleading," and we have had the parade of people, calling it critical in reviving the u.s. economy. the fed vice chairman exclusively told bloomberg the fomc will keep rates near zero until it achieves 2% inflation and full employment, but that will require more help from the government. are saying quite simply is perhaps in a normal recession, or perhaps if we were back in february, then obviously getting to 2% and moderately exceeding 2% would be within o

the kiwi dollar with negative rate bets a headwind. flipping the board to check in on the u.s.ield extend its loss early in asia. assets overnight flattening despite heavy credit sales. i'll shar -- offshore yuan trading at a low. we have inflation data from china later this morning. check out u.s. futures, losing ground with astrazeneca. the vaccine setback adding to the drag. half-paired its earlier loss. a tech soul of overnight saw tesla mark its worst day ever. shery: see how this will affect trading in the asian hours, let's turn to our managing editor mark cudmore. we continue to see reaction to vaccine headlines. what are we expecting in asian trading mark: i think this is a particularly important date, whether this is just a dip people will buy into or whether this will accelerate in the next couple weeks. if it is a buy the idp opportunity -- dip opportunity, we need debility today. we are not getting positive developments on u.s. china front. we are not getting positive news on the stimulus front. we had negative news on the virus front. we are not getting a fresh po

taking a look at new zealand, we are seeing kiwi stocks trading lower by .25%. let's take a look at one of the movers. we are watching the pharma giant signing an agreement with the australian government in terms of manufacturing capacity for the vaccine that has been developed between the university of queensland as well as oxford. the first doses are scheduled for release from the middle of 2021 onwards as soon as successful clinical trials are completed. we are seeing upside of .3% when it comes to trading. the agreement signed by csl and astrazeneca. our next guest has been a firm believer that investors should forget the buy-and-hold mantra of stocks. cio of a company. he joins us from palo alto, california. there is a tech bubble but you cannot really afford to not be invested in that. if you are renting securities, what does that mean for longer-term investors? in your our entry price time horizon. on wednesday, when we were talking to clients, we saw the market rising. very contradictory data points. volumes were soft, volatility was rising, not just in