lots more to come here on daybreak asia. erg. ♪ >> we are not seeing a whole lot of risk going into asia. let's look at how fed features in europe are looking. we saw european stocks falling. this is what we are seeing now. more downside. not much of a bright spot when you look at these futures. we are looking at the euro holding. watch the -- watch the steadying here. we will be resuming those close and looking at estimates pointing to u.s. inventories but front and center is what happens with the u.s. inflation. >> always. we are moving onto flight bookings, surging 249%. that is ahead of cathay pacific later today. let's bring in the asian transport reporter, danny lee. what kind of drivers will shape the first have earnings? >> we will be looking at cargo to see how much cargo revenue they have brought in and compare to the total revenue. this is all about kathy operated through the pandemic and surviving the pandemic. costs are key to them to try to contain costs as beverly rises again. we are looking at a substantial lo

more to come on daybreak: asia.omberg. ♪ haidi: covid zero, oil prices, all this hurting the bottom line when it comes to the chinese big three state run airlines. record losing streak, none of this should be surprising. >> really not surprising. all three airlines in total combined losses, we are on track for the third year of net losses. it is because of the on-again off-again covid restrictions, those airlines are hit especially hard by the lockdowns in hotspots including hainan and tibet. it is a different situation, in china, there are not enough passengers, globally there is not enough capacity to carry all the passengers. >> even within the property sector, there are always those a little more resilient. vanke is one of the biggest players. what do we have for them versus country gardens? >> this is the kind of winner take all situation when it comes to the china property crisis. it is the nation's second largest developer. it is cash-rich, it was able to borrow very cheaply onshore. there is ample liquidity

heidi: you are washing daybreak asia. -- watching daybreak asia. shery: nancy pelosi is set to meet the taiwanese president, china is ramping up his response with the most provocative actions in decades. anxiety over geopolitical tensions ease, futures pointing to muted opens in japan and australia as fed officials push back against the narrative that they will actually pivot away from tightening. focusing on bringing down inflation. we are getting breaking news when it comes to southeast asian lenders. annabelle: net income by one $.48 billion over a strong base on expectations for the second quarter, baiting -- of beating the estimates. coming in at $2.8 billion. income is $1.18 billion. when it comes to the nonperforming loans ratio, at 1.3%, we are seeing one point $7 billion for the second quarter net interest income as well. allowances of assets as well, when it comes to second-quarter allowances for those and other assets, that is 72 million dollars as well. 3.2 billion dollars, we have seen when it comes to trading in ocbc stocks, it is a p

this is daybreak asia.his is bloomberg. ♪ haidi: singapore is overhauling its visa rules to attract foreign workers in a labor market that has been attributed -- that has contributed to her weight and price pressures. talk us through the key changes? >> the top 5% of employment passholders, those who are more than $30,000 a month and that is about 21 point $5,000 in u.s.. for those foreign talents, they are given a five-year pass to work for more than just one company and their dependents can find work as well. they were given 3-5-year passes-to-three year passes. bear in mind a huge change. the other big change is come september of next year, the top 10% of employment drops will not have to be advertised among the locals. they can be given to foreign talents straightaway. this has to do with the talent crunch in the cities. it wants to send out a clear message, singapore remains open to top talent. there has been a lot of discrepancies on the ground saying that singapore has done a turn around and this is

more on daybreak: asia is ahead. this is bloomberg. >> the big story for august's risk off around the world across asset classes. there is no surprise crypto is having a tough day. a loss of .22%. ether is down. signs investors are pulling in. crypto is coming back. he told carlisle cofounder david rubenstein his $1 billion bailout for ailing companies for the crypto downturn had mixed results. this episode of the david rubenstein peer-to-peer conversations was recorded august 17. >> i think it is coming back. obviously, a lot of this has to do with the macro environment. if we see markets crash again we will see crypto crash with it. if we see a market recovery we will see a crypto recovery with it. it has flushed out a lot of things that needed to be flushed out from the crypto space anyway. >> in may of 2022, a meltdown of tech values and also crypto. did you get nervous all of a sudden? that you would fall apart? >> not super nervous. it would definitely be a rocky road for the industry and you saw some businesse

this is bloomberg. ♪ bonnie: this is "daybreak: asia." u.s. speaker nancy pelosi is said to be making a visit to taiwan, defending chinese authorities. it would be a landmark move by u.s. official. the white house urged china not to escalate tensions with the u.s., signaling that the biden administration is preparing for possible retaliation from beijing. the pboc has said it will keep growth stable in the loan industry and facilitate financing for the property sector. in a statement, the central bank also pledge to keep activities reasonably and as china grapples with the range of issues across the economy. ukraine is laying out plans to ramp up grain exports. it isn't -- hailed as a first step to unlocking millions of crops. the first two weeks will be treated as a trial period with no more than three vessels passing per day. moscow is said to be leaning toward objecting to the exchange of two russians for the two americans. asked about claire brittney griner and former u.s. marine paul whelan. sources tell bloomberg moscow is reluctant to a

that's it for daybreak asia.he start of trade in hong kong, shanghai, and shenzhen. stay with us. bloomberg markets china open is next. this is bloomberg. ♪ ♪ david: this is my kitchen table and also my filing system.

just $30 a line. ♪ kathleen: this is "daybreak: asia," counting down to asia's major market opens.ackson hole at the annual lc retreat, waiting for jay powell's big speech. we have had many great conservator -- conversations today, concerned about whether they're going to go harden fast enough, concern about whether they started to late, concern about whether jay powell and signal a turning point. haidi: one source, telling us inflation is like a marriage and you don't want to be stuck in this marriage. let's get you a look at the market open. >> japan, australia and korea coming online. 10-year yield of the start of trade sitting at the 3% level after the strong u.s. option in the previous session. a focus very much on jackson hole this morning, how hawkish jay powell will be in his address ride a. inflation is in focus domestically today because we got tokyo cpi figures in the last half-hour rising 2.6% on the year in august, slight beat on what economists were expecting. korea, we are continuing to monitor reaction in the local currency, the korean yuan around a 13-year low but

just $30 a line. ♪ >> this is daybreak asia. counting down to asia major market opens.impact of jackson hole. hoch's comments reverberating across markets. we are seeing the move-in the yen, dropping below the year to date. the weakest point since 1998. down for the fifth day against the greenback. kathleen: this is going to beg the question, raise the question, just how aggressive the bank of japan is willing to get if it continues to push dollar-yen higher and if they decide yes, they are going to have to buy war bonds. -- and jackson hole over the weekend said japan's economy needs more stimulus. they are not ready to remove stimulus, they are going to have to buy more bonds. haidi: we are just getting some numbers out of south korea as well. take a look, 28.2%. [please stand by] haidi: we continue to watch for resilience when it comes to south korea prostrate numbers. particularly major markets like china. like the u.s., it has been the barometer of not just south korean growth or asian trade demand growth, but also broader global growth as well. we see largely a re

more to come on daybreak asia.loomberg. ♪ haidi: we are watching the market open in tokyo. energy and focus as japan, one of the world's top buyers of lng rushing to supply for winter. in focus, tokyo electric power as well. the energy chief saying they must earn a public trust before they are allowed to restart efforts. briefly surpassed when he $5,000, watching crypto related sales in the session as well. shery: coming up in the next hour, investors are supposedly watching how the biggest companies are weathering tough global macro conditions. who manages the fund is looking at the next few months which may be tough for retailers. we're going to watch key economic data from china. jp morgan and a solid recovery in the third quarter. the market opens in sydney and tokyo are next. this is bloomberg. ♪ >> this is "daybreak: asia." we are counting down to the major market opens. we are watching china closely. we have key economic data as we are seeing more signs. we could be seeing a liquidity trap in the nation. hai

shery: you are washing daybreak asia. -- watching daybreak asia. heidi: the top stories this hour, anxiety builds ahead of the key speech on friday where we are live at jackson hole. new measures to stabilize the economy, pledging to use all tools available as growth slows. aia group's business falls as they lockdown bites as we speak to the ceo. shery: we are watching the development in hong kong as we have a storm, hong kong exchange was canceled. storm signal eight is in force. they may reconsider the decision and are lowering the call but we continue to watch as a development as we are getting the latest from hong kong. we are seeing u.s. futures pointing slightly higher. stock struggled for the direction in the new york session. we have a mixed eco-data, home sales fell to the lowest level when it came to factory orders, with a core capital goods, that beat estimates. about weight on the market, and we are waiting for jerome powell's speech and that was in key focus we have the anticipation of a more hawkish fed. we are seeing more outside --

this is bloomberg. ♪ ♪ shery: this is "daybreak: asia," we are counting down to asia's major market opensiday, south korea and sydney coming online. interesting to see the reaction of the collude than expected cpi numbers in the u.s.. under the hood, it wasn't all great, but there was so much market relief. haidi: i am wondering if we are shaping up for a melt up in the markets, the nasdaq 100 in technical old territory come s&p 500 highest levels in month-end volatility coming way down to levels we haven't seen since april. shery: we continue to watch for any market reaction to those numbers. we have also heard a lot of fed speak this week, talking about even with cooler inflation numbers, that the fed could continue to tighten. haidi: speaking of inflation and economic growth, we are getting the final reading for singapore's second quarter gdp. it is being lowered to 3% from 4%, up from 3% to 5% is now the new, is the previous guidelines. they are narrowing the 20 to four-year gdp forecast from three or 4% to 3% after 5%. that is a revision down. quarter on quarter, a construct -- a con

daybreak asia is next. this is bloomberg. ♪ this is xfinity rewards.f showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. shery: welcome to daybreak asia. annabelle: counting down to the major market opens. haidi: investors ponder questions for how aggressive the fed can be.

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bloomberg.com this is daybreak asia.s, 30 minutes into the trading session for japan, australia and korea. we are looking elevated in terms of trading values. all these issues investors have to contend with, front and center is the state of the global economy. mixed-use and company earnings. the other issues, the u.s. jobs report should give us clues as to how aggressive the fed needs to be. it is all about inflation, let's see what we are looking in terms of supplies and asia we did get question from elon musk earlier, he said inflation is now trending down in the import costs are lowering. there is going to be a steep drop in inflation at some point in the future. in terms of the reaction, looking the exterior. we are also contending with geopolitics as we see continued aggression from china's of the military drills there carrying out in response to nancy pelosi visiting taiwan. we did hear from the japanese prime minister. he spoke earlier saying the drills china is carrying out our a major concern for its national se

this is bloomberg. ♪ shery: this is daybreak asia. when we are focused on inflation concerns. we have the cpi numbers, the headline numbers expected to ease. we are getting ppi numbers. we haven't even touched we do have numbers for asia. >> there is such -- there is just split in the market. there is this even as we continue to see some indicators. >> we are expecting those treasury yields to come online. we actually saw the tenure yields were passing on the t-1 & level. we see them bracing for more aggressive fed tightening. take a look at the nikkei under pressure at the open as we are holding steady on the japanese yen. 135 level against the u.s. dollar. we continue to see the divergence when it comes to where the doj is going, where the fed is going. we already saw that result from that week yen with the current account numbers actually falling into deficit just a few minutes ago. for the country for the month of june. we are seeing weakness across the board. will we see the current accounts grow month over month in the previous

that's it from daybreak asia.continues as we look ahead to the start of training and hong kong, shanghai, and shenzhen. standby for bloomberg markets: china open. this is bloomberg. ♪ - [announcer] imagine having fuller, thicker, 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 buy 500 strands, you get 500 strands free. call right now. (upbeat music) david: morning from home:. -- good morning from hong kong. let's get to your top stories. equity markets under pressure on fears the fed made not

this is bloomberg. ♪ shery: this is "bloomberg daybreak: asia." n to asia's major market opens with plenty more hawkish commentary from fed officials. continuing to watch house speaker nancy pelosi make away from taiwan to south korea. haidi: this as investors and market participants are trying to price in what is going on with the fed pivot. and we see this rotation back to growth. take a look at we are watching the start of trading. annabelle: just about 20 seconds away from the open in japan, south korea, and australia. a lot of focus in the treasury space. the big move in the short end in the previous session. we could have another supersized hike from the fed ahead. we do have the open of cash markets. also what we see for the yen. it has really been caught between the hawkish fed rhetoric. the need to continue the fight against inflation. also the tensions with nancy pelosi visiting taiwan. we have seen the yen trading fairly range bound. for the equity picture, risk on across the board. optimism coming into the earnings space. there have bee

daybreak austria. annabelle: we are counting down to asia's major market open. shery: the top stories this hour -- fed chair jerome powell gets a chance to reset market expectations when central bankers gather this week for their annual retreat in jackson hole. chinese lenders/rates as the economy battles severe headwinds. chanter -- china's energy crisis adding to the problems stop a limit on how some in -- on supply for some industrial users. u.s. futures under pressure after we had a volatile session on wall street. the s&p 500 having its worst day since june and we see the pressure continuing in the asian session. we have $2 trillion in options expiration which didn't help with the volatility level. the 10 year level headed to the 3% level and everyone hanging on what chair powell comments will be this weekend in jackson hole. in order to gauge what the trade will be this year, a flattening yield curve has been the wager of the day. crude pressure on -- crude prices under pressure at the open. we had seen three days of gains for oil prices but there had been

daybreak asia is next. this is bloomberg. ♪ pst. girl. you can do better.with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a line. >> your "bloomberg daybreak: asia," that's coming to you live from new york, city, hong kong we are counting down to the market open. a downbeat mood ahead, opening up

find rewards like these and so many more in the xfinity app. ♪ hey: this is "daybreak: asia." ounting down to asia's market opens as we look at the low prime rates from china certified, following the pboc's surprise rate cut. couldn't have come at a better time. the energy crisis continues in sichuan, and we are seeing more indications that global demand could be slowing. haidi: you were talking about the liquidity trap in the last hour and that is the concern, that we would lose more liquidity, but not so much demand. you talk about the demand picture globally. we did just get the august import-export numbers out of south korea for the first 20 days. imports rising just over 22%. let's look at how the market is putting all of this together. annabelle: we are just keeping an eye on the recession fears at the start of trade. what we are seeing in treasuries, it has been putting pressure on yen trading. it is a bit weaker this morning. what that means for the stock's outlook, a weaker again generally has been supportive for the country's exporters. that could also be a supportive

lots more to come on "bloomberg daybreak: asia." 500 futures are trending lower after a big drop on friday. nasdaq futures down 1.3%, and all three indexes sought after declines. negative sentiment, alvar is it going to go, is continuing -- how far is it going to go, and it is interesting to see how far this will go after giving them a chance to react to jay powell's hawkish speech. paul: we have been sifting through the fallout from jay powell's speech at jackson hole, the fed governor managing to stomp on the major equity indexes had the u.s., but how about meme stocks? annabel, you have been looking at the survey. is the craze over? annabelle: this is been a bit of a trade that is come back and devote, but with -- back into vogue, but with the volatility the question is can it stick around? the question this week is will the meme many up as well, the vast majority of people saying no, it will stick around in some version but probably will not get back to that same history it was on january 2021. which stocks are most likely to go

we have plenty more to come on "daybreak: asia."his is bloomberg. ♪ shery: a quick check of the latest business flash headlines. bhp group has posted its highs ever profits, with total underlying earnings at 23.8 billion dollars, beating forecast. the world's biggest miner will pay a record final dividend, but bhp warned of headwinds as the mining sector faces slowing global growth, and weaker prices for iron ore and copper. a delaware court has ruled that twitter doesn't have to hand over names of employees in their ongoing legal battle with elon musk. elon musk had asked the judge to identify the workers responsible for identifying bought -- bot accounts. the court did order the social media giant to hand over some documents. the nikkei is nearing overbought levels. this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network and most recommended wireless carrier.

we have daybreak asia next. we ate -- wait to see how our asian markets fair.e will react to the softer than expected u.s. inflation rate. there's a lot more to come. this is bloomberg. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today. so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat all while controlling stress and emot

shery: you are watching daybreak asia coming to you live from sydney and hong kong. heidi: we are counting down to the major market open. stocks in asia sit for a firm open up a robust u.s. retail earnings, signs of a darkening economic outlook adding to pressure on oil. for the site to raise rates for a fourth straight meeting, investors are awaiting further moves. tencent mate report is first ever negative revenue growth as a gaming and ad revenue is under pressure. annabelle: we are looking ahead to more positive starts under the board -- across the board. u.s. retailers is down, that is a tailwind for asian stocks. we are seeing futures in japan and australia closing, it is well into the earnings season. including csl, we watch how they start trading as well. fx why, we are seeing the tight right. technical indicators saying we could we could have a more downside for the yen. i had -- saying we could have more downside for the young ahead. all 18 economists expect a fourth straight 50 basis point hike. aggressive period of tightening here. we do get that it could

that is it for daybreak: asia.rg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today. >> good morning from hong kong it

daybreak asia is next.loomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today. shery:

daybreak australia. >> we are counting down to asia's major market open. >> i'm shery ahn. fed officials offer divergent signals over the size of the next rate hike while pushing back on bets they could reverse course. >> u.s. stocks and the day higher. earnings reports -- >> the indonesian president speaks to bloomberg about plans to boost southeast asia's largest economy. u.s. futures are muted after a lot of volatility on the new york session. we had volumes want to percent lower than the 30 day average. not surprising we have price swings and also mixed economic numbers also mixed earnings. we are talking about the strength in the labor market, more signals of that. we had strong manufacturing numbers but more pressure on the housing sector. cisco had an upbeat forecast. you can't blame investors for not knowing where to go. we did see treasury yields under pressure throughout the session after more comments from fed officials that they are backing more rate hikes. oil prices around $90 per barrel. a little more optimism in the new york session. with treasury yields und

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that is it for daybreak australia, daybreak asia is next. this is a bloomberg. ♪ heidi:

daybreak asia is next. this is bloomberg. ♪ >>

also -- daybreak: asia is next. bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app.

daybreak australia. we are counting on to asia's major market open. >> i am sherry on. better than expected earnings data. >> nancy pelosi goes to korea after her controversial visit to taiwan. china is conducting military drills around the island. >> opec plus squeezed out a token supply increase of 100,000 barrels per day, saying the capacity is severely limited. look at oil trading and agent section -- session. this reports afterward so that pressure in the regular session in new york given that we also have u.s. inventory pointing to slower demand and slower economic issues being flagged in that data. look at u.s. futures at the moment. there is a little bit of pressure after the s&p 500 gained ground. we also had stronger economic numbers. that really mix things up. the 10 year yield headed toward 2.7%. higher given that traders are now pricing in higher rates. take a look at this chart. if you look at this and we are pricing more than 50 basis points a rate hikes for that september meeting, the meeting on september 24. that is a little bit of a gap between then an

. ♪ >> you are watching daybreak asia coming to live from new york, sydney and hong kong.ting dow

(upbeat music) >> watching "bloomberg daybreak: asia dear: coming to you live from new york, sydney,ng. haidi:

daybreak are -- daybreak asia is next. this is bloomberg. ♪ shery: you're watching "daybrsi

shery: you are watching asia does daybreak: asia. we are counting down to the major market obits. -- opens. investors bet the rally following softer inflation data. u.s. producer prices fall for the first time in two years reflecting a drop in energy costs. we were be speaking -- will be speaking by with fed president mary daly. a pipeline leak in the gulf of mexico is shutting down six oil and gas trails. abigail: u.s. futures to the upside now after the s&p 500 raised more than 1% in the new york session. a lot of volatility today with tech underperforming despite the fact we had data showing u.s. ppi also fell for the first time in july in about two years. also jobless claims are rising for second consecutive week showing a mart -- moderate labor market that might bode well for what the fed might do. not an aggressive tightening as markets have feared. the 10-year jumping about 10 basis points. this 30 year at the highest in three weeks because of a weaker than expected sale. oil prices were gaining ground but right now in the asi

. ♪ yousef: this is bloomberg daybreak: asia least. manus: u.s. china tensions escalate.

that state from "daybreak: asia." continues as we look ahead to the start of trade in hong kong, shanghai and shenzhen. standby for the "bloomberg markets: china open." this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network and most recommended wireless carrier. that's a whole lot of happy campers out there. and it's never too late to join them. get $450 off any new purchase of an eligible samsung device with xfinity mobile. or add a line to your plan today at xfinitymobile.com this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. david: good morning from hong kong it is 9:00 a.m. in

asia. daybreak middle east is next. keep it here with us. this is bloomberg.-- ♪ this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. - [announcer] imagine having fuller, thicker, 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 buy 500 strands, you get 500 strands free. call right now. (upbeat music) >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or bloomberg lp, its affiliates, or its employees. (announcer) the following is a paid presentation furnished by rare collectible

daybreak: australia." >> we are counting down to asia's major market open. >> good evening from new york.ow, the top stories. traders recalibrate expectations. neel kashkari says investors realize the central bank is serious about tackling inflation. >> the e.u. plans emergency measures to ease inflation concerns. >> shares of the chinese e-commerce giant soar after a signal in consumer rebound demand. futures have just turned positive. the second day in a row at the close the s&p and nasdaq both closed lower fractionally. that started friday after jay powell made his speech. it carried over into the asian trade last night. now we are finding there is still a lot of negativity although in the last 36 hours. j.p. morgan chase saying he has one foot on inflation and one on the banana peel. a note of caution. turning to the bond market, the selloff and treasuries -- and treasuries took the 2-year note up to a high of 3.8%. we were at 3.4% last night. traders are starting to price in recession risks. we have the dollar climbing another .5%. oil futures up to $97 a barrel. violence in libya co

daybreak australia. i am heidi scott watson said. >> we are counting down to asia's major market open. >> i am kathleen hayes in jackson hole, wyoming for the fed annual policy retreat. now let's take a look at the top stories this error. stocks rising, investors shrugged off the hawkish talk. >> we speak live to adrian or who was among the first to tighten policy. >> plus, progress in talks between beijing and washington to avoid the delisting in chinese firms from new york. click let's get you a quick check on this as we continue that drumbeat awakening for the child. futures are pretty tepid at the moment. all of this as we saw bond yields falling and investors waiting for that speech and just how hawkish will fed sharp -- fed chair powell be? volumes are seen very much below average in all major industry groups. we did see that higher training particularly when it came to material communications as well as tech. the dow added just about 1% there. watching new york crude as well. we are sitting at about $93. much uncertainty continues to way for both supply and demand when it comes to energy. let's look a

asia markets as well. second straight month, both are doing well in august. when it comes to chinese stocks, the golden dragon is up 3%. haidi: plenty more ahead on daybreak.♪ kathleen: let's take a quick check of the business flash headlines. net income came to $25 million. the most since 2007. china banking reported a rising profit becoming the first property developer to report stronger earnings amid the downturn. this is bloomberg. ♪ pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a line. haidi: we are live from new york,