rishaad: i am angie lau in--anchor: i am angie lau in hong kong, where it is just past noon. energy stocks are in play. i wonder why. [laughter] yousef: oil prices have been holding firm around $51 a barrel for brent, and a lot of are coming off the back of u.s. inventory data, which shows a fifth straight week of the climb. we have laid it out for you on the bloomberg. you can see what has been happening. you are looking at a decline of 2.9 8 million barrels in the week, ending september 30. dip under time we the mark. are at the lowest level since january, supplies still at the high seasonal level in three decades. imports are down 125 million barrels per week. will looks very oversupplied for 2017. pointing to the fact that oil at $55 could hit a wall because u.s. shale producers are likely to come back online. angie: it is at weaker yen once again, dropping against the dollar. th day of eigh declines. that is helping to prop up the topix market. it is rising a lot of japanese chairs. it is about the anticipation of what the fed might do. mumbai climbing about 0.25% on the

and i'm angie lau. we are talking about how the equity market is performing tonight and noting that it is opposite day a little bit. you may have noticed yesterday, it is completely reversing yesterday's losses. asian markets are actually gaining. one of the key factors is stanley fischer, the vicechair of the federal reserve. he is a most walking back what yellen was saying about being hot accommodative of a economy. in his point of view, it is all about slower growth. the slower growth trend caused by low productivity. there is slower labor force to growth. and higher shaveings are connected with the aging u.s. population. and also weak investment and lower global growth dragging on u.s. exports. let's take a quick look quickly at asia, the state of the markets trading in mumbai. japan, though, notably just a little bit off. tracy, how about your part of the world? tracy: sure, so in the middle east we are just under two hours away from the opening of the emirates markets. we saw interesting moves yes

i'm angie lau. let's look at what is going to be coming up in european programming a little later on. we will have live coverage of the meetings that take ice and luxembourg. they your group has been meeting. they will give $1.1 billion to greece. meeting forup then greece's third bailout since 2010. you needed a reminder of some of the negative headlines around the greek story , we still could see debt restructuring. the imf said for some time now that needs to be a necessary involvementr future by the international monetary fund. eu,s talk about the broader which still encompasses the u.k.. noda, a lot of the attention will turn to brexit. the secretary talking in parliament yesterday. he was talking about some of the advantages he sees in the paul -- in the pound falling. it has fallen 70% since the u.k. left the eu. 17% since the u.k. left the eu. he has been saying that something the bank of england echoed later on, that it would be a welcome change. that weakness in the pound has not in the pa

yousef: and i'm angie let -- angie: and i'm angie lau. we're watching the wall street losses, especially angered by the apple performance. also, energy shares sliding as well. it seems that people are taking a wait-and-see approach. angie: absolute -- yousef: absolutely. you have stocks in global markets that have slowed to a crawl here, to levels we have not seen in some two years. we put together a chart you can easily pull up on your bloomberg to get an idea of what has been happening. this is revisiting that volatility that we have not seen since late 2014. is this a cause for alarm coming given the possible risks? links looking at price driven by option strain. this is normally known as the bank of america merrill lynch crossett index. this is five straight days of decline. that is the longest streak in's may -- since may. analysts say this is given by the slightly more certain picture we are seeing on the u.s. politics front and on the u.s. policy front in terms of the implied probability for a rate hike in december. up to 73%, and a

angie: and i'm angie lau in hong kong.an is still struggling to beat inflation and kickstart a recovery. and it seems foreign investors are finally losing patience. to have dumped the japanese holdings for the past five months. we have got roz jan taking a closer look into this story. is it going to get worse? reporter: it could do. we have still got some time to go, so we will see. how close at this point are since to be the worst 1987, about $59 billion so far this year, greater than any of the market tracks by bloomberg. 2013, inflows to japan really spike, but they drop off of the quickly. a honeymoon. after abe became prime minister but ended quite soon. outflows0 billion of needs more explaining why the boj is on the president of buying -- president of buying. some markets have lost about 12% this year, but the boj is buying, buying, the outflows are just increasing. that is not the problems they are facing -- one of the problems they are facing. >> given at the boj is buying ats and that should be pushing up equitie

angie: time angie lau in hong kong.: still on set with us the senior economist at emirates nbd. before the break i talked about the egyptian pound. i love imf speak. exchange rate subsidy issues. when will this devaluation come? should it be a devaluation? what is most beneficial, devaluation or a float? >> when is it going to come? earlyviously thought november. we've seen statements that said they are hoping to sign an imf deal over the next few weeks. that could mean early 2017. the sooner, the better. my main concern right now is that when that imf agreement was initially announced back in early august, the premium of the parallel market over the official rate was around 40%. that has widened to around 85%. obviously the assumptions that the imf was working with might need to get changed. when we were talking about a devaluation of around 20%, that number might now be larger. manus: we have that chart between the official rate in the differential. that gap is around 100%. that is what madame lagarde was referring to

angie: and i'm angie lau in hong kong. it is just past noon. welcome to "bloomberg markets: middle east." we are seeing some gains across asia. part of that story that we are not talking about is what is driving markets over there. that is opec's deal that is kind of undermining u.s. drillers, right? yousef: right, angie. we are starting to see cracks in this opec agreement, a lot of skepticism. the other big deal has been non-opec resilience, particularly the united states. take a look at this chart. we got the latest data from the baker hughes index. we are seeing additions to that fleet for the fifth consecutive week. 425. you see that series of blue columns. hat is a total of 184 since july that have been added. the question is going to be, how many more rigs can come online in the current price environment and when are the larger drillers going to put rigs back into motion? standard chartered saying shale is not big enough, not fast the opec plan.t what are you looking at? angie: it really is about the tank and survey

angie lau in hong kong. welcome to bloomberg markets middle east. what we were watching was the u.s. presidential election here. some interesting comments from both trump and clinton about the region, and globally as well. what about you tracy? big news coming out of saudi arabia. tracy: if you take away one thing from today's trading and yesterday's trading, it is some very large numbers. specifically, saudi arabia selling 17.5 ilion dollars worth of bonds in its inaugural international bond debt sale -- $17.5 billion worth of bonds and it's a natural -- in its inaugural international bond debt sale. you can see the treasury moving up ahead of the bond sale, they moved sharply down, and then up again. the reason that happens is because investors only have so much money. a bond sale as big as is when crowds of the u.s. treasury market, which is amazing. you also have some technical things around hedging a position. natalie's is the biggest issue from the middle east ever, it is also the biggest ever issue from an emerging market nation. it beats arg

here is angie lau.us.thank you, anna, trump dismissed his vulgar comments captured in a 2005 video. he tried to distract attention to the issue by attacking her e-mailston over and past sexual misconduct allegations against her husband. meanwhile, the democratic nominee said his comments to demonstrate he is unfit to serve as president. i did not say that. this is locker room talk. i am not proud of it. i apologized to my family. i apologized to the american people. but this was locker room talk. mrs. clinton: what we all saw and heard on friday was donald talking about women, what he thinks about women, what he does has said thathe the video doesn't represent who he is. i think it is clear to anyone who heard it that it represents exactly who he is. e: u.k. businesses have adopted a more cautious outlook. it vote,ince the >> according to members of the chamber of commerce. they are using their first quarterly to lift confidence. and speaking to the acting erector general, so stay tuned for that -- acti

angie: and i'm angie lau. we are watching asian stocks rise, along with industrial metals as we see the play across the markets here. when it comes to the u.s. treasury space, some interesting things are happening from saudi arabia. yousef: i would elevate that, promote it from interesting to very interesting. most countries in the emerging markets have curtailed back the scale of the selling and liquidating of the u.s. treasury, with the exception of saudi arabia and china. the fire sale is still happening. this chart shows you the extent of what has been happening here, on the chinese side and the saudi arabia side. both of those countries are trying to use some of those proceeds. saudi arabia, a decline for the seventh straight month. $123.7 billion at the end of january. since then, a 25% decline as it tries to address the 11.4% budget deficit projected by bloomberg. what is going to happen though, after this bond issue? it is going to change how they lock in those gains from the u.s. treasury. china has t

angie: i am angie lau in hong kong.trump's taxes remain in the election spotlight after the new york times reported that he has not paid federal income taxes for years. juliet is following the story. she gasped he has declared this a brilliant move. juliette: donald trump has used this to his advantage. he was speaking at a rally in , colorado. he says he is one of the only people that understand the complex u.s. tax system and he used it brilliantly for himself. it seemed his supporters agreed. let us listen to what he said. and realbusinessman estate developer, i have legally used the tax laws to my benefit. and to the benefit of my company. my investors and to my employees. brilliantlyhave used those laws. brilliantly used a tax system to his advantage. some of his supporters really believe in donald trump's statements. -- don'tiani saying you think a man that has this economic genius is a lot better than a woman and the only thing she has ever produced is a lot of work for the fbi checking out her e-mails. of the sp

i am angie lau in hong kong.nne-louise hitton still with us. what is the role of the u.s. and all of this? goldman sachs sent out a note. they see u.s. oil explorers raising activity at $50-50 five dollars a barrel. they also said "the industry has adapted to low prices and activity. it is coming back." ann-louise: we are seeing the rig count go up week after week, which is an indicator that the industry is adapting. the point is this activity that is picking up in the u.s. is the lowest cost onshore 48 production. it is easy to bring it on at a price of $55 dollars per barrel. sources thatt of have not been tapped or returned to activity. companies need to stabilize themselves. go, the moreices quickly u.s. companies can stabilize themselves, pay off their debt, get enough cash flow to get back into action and get the rig count even higher. down a lot from the high as of 2014. it was up at 11,000 -- sorry, 1100. now it is much lower at 300. it will be a while before we get the rig count backup where it was. i th

let's get to angie lau. china's holdings fell to the lowest level with the world's second-largest economy drop down. hadbiggest foreign holder 1.19 trillion dollars in bonds. it was down over $33 billion. that was the biggest drop since 2013 according to u.s. treasury department data. have arabia is said to reviewed all investors. what they are much more willing to pay. according to people familiar with the matter, people selling bese same the bonds will offered. saturday is dipping into global market. and john paulson is suffering and deepening loss. this is a sign that it is a positive turn around. it may be out of reach for the billionaire. and the advantage fund. to peoplerding familiar with the matter. and declined to comment irish bookmaker paddy bauer has paid out more than a million dollars on a hillary clinton election win. it makes her the nails on certainty to beat donald trump. early tocally pay out drop publicity. also to let gamblers parlayed their winners. >> global news 24 hours a day powered

i am angie lau. >> i am tracy alloway. >> let's talk about the politics let's start with the spanish story. the socialist party says they will not block the acting prime he will likely take over in the second term. in abstaining, he will be able thist enough support and party wants to avoid a similar to maintainy want relevance and don't want to trigger a reaction. they would risk giving more itport to a rival party and looks like we could see an impasse and this could be the next step in the process. i understand that you will have an update on the banking sector. onwe will keep in outlook this banking sector and the focus will be on the italian be thend this will theremance of loans and is a new ceo and they are off nonperforming loans stock is down and this underlines the stresses. potential for job losses newng through and there are -- acts and >> the judges have yet to agree to the sale. why are they closing down? 4.2% of they only had the market share. they have been dominated and unable tops were and they are there is this rifle here. >> they hope that there is they were at .5

. ♪ angie: i am angie lau. david: we are in the middle of the asian trading day. . ♪ angie: the next generation jostles for position as china's elite maps out the road ahead. david: the chinese renminbi headed for uncharted waters, a record low last seen back in 2007. asia's richest woman will have to dig deeper to pick australia's most iconic cattle stations. fans are veterans in more ways than one. angie: we have to talk about the chinese yuan. are feelingobally they will let this depreciate more. david: they are letting it move slowly. , i will be back with you in a moment. when you look at the equity markets, ignore what is happening there. there is no point in today. volume today. we are pushing towards 99 on the dollar index, weighing on a lot of asian currencies. were looking at pressure on sterling, but were talking about renminbi the, 6.78 is your offshore quote. have a look at the markets. we're seeing a pullback when it comes to oil prices and gold. everything else on the way out. you're getting a decent bid when it comes to s&p futures, a big week for e

i am angie lau. ♪ >> no here to shake as the war of words turns personal.nton says trump is not fit to be president, he says he would put her in jail. smartphone, top carrier is dropping production. >> still smiling, bank of japan governor tells bloomberg he has plenty of ammunition left in the fight to revive the economy. >> and raising more than one billion dollars. unit shares are surging in singapore. >> is burned during the u.s. presidential debate. certainly the focus. in asia, china coming back after holiday. drugs very interesting point to make. when you look at what is happening across the market in asia, the equity market, let's have a look. the gmm function. very interesting and quick way to get started. china is outperforming right now. property,xception of every sector is up. from investors. half of 1%, biggest drop in the currency since the brexit vote. the other thing i want to point out, look at the bottom side of what is happening. thailand, 2.3% down. of decline. day the longest streak going back to bond, 10 year the yields, up six basis p

angie: i am angie lau in hong kong.ian pound drops to a new low on the markets, trading at 14.05 to the dollar. weakest since bloomberg launched the weekly survey of -- in april of 2013. as they ares react trading is illegal. at delegation of german lawmakers in on kara -- ankara. the german team admitted that two-way relations are not good, but said both sides accepted that germany has the right to express a view. this came as germany dropped an investigation into a poem about president erdogan. angie: the head of the orion space agency is said he is hoping that talks with the administration will come when the time is right. allies could be --d to develop long-range the u.s. and its allies say the technology could be used to develop long-range missiles. yousef: let's turn now to some of the global ises. a lot of uncertainty out there in the markets. we have heard from some of the members of the federal reserve shifting expectations about when it interest rate hike might happen. where do you stand? believe thatstill it

first word news with angie lau. angie: thank you both. the uk economy has been more resilient since thought. concern that britain could lose market or evenhe tumble out of the european union without a trade agreement and place has driven the pound to a 31 year low. that means companies are likely to scale back investment in hiring plans. we will be speaking to the co-author of the report, martin beck, at 7:15 on daybreak europe. north american banks cut their share of uk commercial property lending by half. the head of the eu vote. according to a survey, u.s. and canadian lenders market share dropped 7% from 14% for six month of the year, amidst for british real estate. chinese president has warned the global economy is weak and vulnerable to problems that could trigger a new financial crisis. speaking at the summit, he said the underlying causes of the two thousand eight crash had not been fixed and the threat remains of a bp. china is the world's second-biggest economy, set to host next years summit. china's policymakers are facing a di

i'm angie lau in hong kong. yousef: and i'm yousef gamal el-din in istanbul. is falling for a third day on concerns that the ongoing talks with opec and non-opec are not going to yield any tangible agreements. with the energy minister of the united arab emirates just after the meetings ended here in istanbul, and asked him what the road ahead would look like. >> looking at the market itself, we are seeing a positive , whicht in price indicates that the market was not responsive to the fact that our side to doon something. opec.not going to be only it will be more than opec. we are encouraged as we see a response from different major , and we are expecting more and more recoveries to join us in the end that. -- indiana. -- in vienna. alsoearly there were absentees this time around and iran. is that something you are worried about? >> this was a formal meeting, first of all. this is a meeting where whoever is here can come. it was more meant for the secretary-general and the chairman to talk to opec and try to update them on what happened in nigeria. i think we

angie: i am angie lau with an update of your top stories.ng phone crisis could cost samsung. has doubled the recall to almost 2 million devices in the u.s.. samsung shares climbing more than 1%. over to china now, prices rose for the first time since 2012, indicating further stabilization in the world's second-largest economy. 0.1% fromindex rose september a year ago. china's producer

. ♪ angie: i am angie lau. : asia". ♪ angie: shipping makes the news, three japanese carriers joining forces to claim 7% of the global container market. david: south korea plans and $10 billion boost to keep the struggling industry afloat. angie: dbs snaps up anz operations and five asian countries. david: shares of aia taking a tellve hit as they citizens to stop using their cards to buy insurance. shipping industry, a consolidation effort there. david: you had three big companies there. that is keeping us on our toes today and driving markets. it is a quiet day. it is really about the u.s. dollar, but still risk aversion. equityu look at the markets, most stocks are down. ,ou have the regional benchmark should be a little higher at the moment, there we go, down to a few big names keeping that index low. one example would be the shipping companies. currency markets, no consistent story here, the dollar still falling against the chinese renminbi after the adjustment out of the pboc. it really comes down to oil p

here is angie lau.redict mariost draghi is unlikely to announce fresh measures at today's meeting. they do see the december decision as the most likely for additional quantitative easing changes. the qe program is scheduled to end in march. following the decision right here on bloomberg. the u.k. chancellor of the to the treasury committee, the retention of passport into the injury will be -- into the industry. >> i think they are also realistic and looking at other passporting to protect their interest. we are obviously working closely with industry on looking at all the options for the future protections of luncheons financial services district. the december fed hike is .ikely but not a done deal the columnist said central banks have the started -- distorted those paying to close attention to the tightening of interest rate moves. >> the market is obsessed with the wrong rings. the market is already upset with the timing of the next hike and his not fully understood that regardless of when it comes, t

i am angie lau. this is bloomberg. manus: thank you for that roundup. juliette saly is standing by.t is all about the aussie and the key way. how is that playing out in terms of the equity story? pretty positive except for what we are seeing coming through from the new zealand market. --.s closing down by as you were mentioning, the rba is paring back the expectations of another great cut sending the kiwi higher. we have seen high-yielding stocks in new zealand dumped today. a positive session across asia. volumes are still low. many investors unwilling to take too much risk ahead of the presidential debate on wednesday. we have seen that rebound in the oil price help out some of the crew players in australia and you are seeing a strong rally coming through in hong kong. bestang seng up by 1%, the performer in the asia pac region. at its highest level in two weeks. we are seeing developers leading the game. the other story of the day is casinoeback in the stacks. they were hit hard on monday on the arrest of crown employees in china. you are seeing a little bit of closing up byey 2%

let's get to the bloomberg first word news with angie lau. anie: thanks, anna. suggests there should be limits to easing. apples shares fell after the world's most valuable company reported the first sales decline since 2001. the sales were barely higher than analyst estimates. investors had expected them to take advantage of samsung's galaxy note 7 problems. is saids shares weaker deutschk to be considering not paying bonuses in cash to boost capital and investor confidence. that is according to people familiar with the matter. executives have on formally discussed handing out shares, instead of cash rewards. agendaa might be on the when the supervisory board meets later today, although no final decision is expected. the spokesman or deutsche bank declined to comment. theresa may is keen for mark carney to stay on at the bank of england. this is according to officials. they say may criticized loose monetary policy in her confirmation speech earlier this month. her office moved to reassure mark carney. the treasury has since been taking a more active role in sta

." ♪ i'm angie lau. top stories this hour -- more pressure for abenomics.nsists he still has plenty of ammo. and fears of a housing bubble curbs. new property and amazon has grand ambitions for indian investing. they are vying to be online sales number one. biggest shipping line says for team ahead for acquisitions. is consolidation good for a struggling industry? we are live with more this hour. shery: and i'm shery ahn. many markets we are keeping an eye on. they are giving a boost to the regional benchmark index, which from a low. the nikkei is gaining more than 1%. all factors in the green with health care stocks and consumer goods leaving those gains, and remember -- japan just released its boj

i am angie lau. ♪ angie: crown resorts plunges on reports employees detained in china, including the head of high rollers. the casino industry taking a hit, dragging down the regional benchmark. behaving badly, strengthening against other peers. david: tourism in thailand racing for a slowdown following the death of the king. let's start there. we are coming off the best day for the equity markets there in five years. i will be back with you in just a bit. we are seeing a pullback across global asian equities. every single market on the way , with the exception of the philippines and mongolia. the dollar continues its run-up. leadingysian ringgit declines. up oilty story, most are , gold, unchanged at the moment. as with the dollar, yields on the way up across the region. 10-year, have a look at g 10, i get that up a bit later on. the story is risk off, everything going back into the dollar, yields on the way up. very heavy data week coming up. let's get to first word news. has one thenping global eco