what impression did you get, annabel? ~ , , ., , annabel? i suppose it has the full spectrum _ annabel? well, i suppose it has the full spectrum of _ annabel? well, i suppose it has the full spectrum of emotions _ annabel? well, i suppose it has the full spectrum of emotions there - annabel? well, i suppose it has the. full spectrum of emotions there from the new chancellor of the exchequer. i watch interview�*s earlier on today and he certainly seem to give the illusion of calm, but i would not necessarily say that is reflected on that front page. necessarily say that is reflected on that front page-— that front page. kate, the paper oints out that front page. kate, the paper points out it _ that front page. kate, the paper points out it is _ that front page. kate, the paper points out it is not _ that front page. kate, the paper points out it is notjust - that front page. kate, the paper points out it is not just the - points out it is notjust the backbenchers that are crying out for the prime minister to step down. ida. the prime minister

annabel? of course the three things _ couple of weeks. annabel? the three things they _ couple of weeks. annabel? of course the three things they are _ couple of weeks. annabel? of course the three things they are pulling - the three things they are pulling out there, the chancellor postponed that 1p cut in tax cut _ chancellor postponed that 1p cut in tax cut it — chancellor postponed that 1p cut in tax cut. it was announced by rishi sunak. _ tax cut. it was announced by rishi sunak. liz— tax cut. it was announced by rishi sunak, liz truss decided to bring forward — sunak, liz truss decided to bring forward by— sunak, liz truss decided to bring forward by a year, but, no, sunak, liz truss decided to bring forward bya year, but, no, it sunak, liz truss decided to bring forward by a year, but, no, it has been _ forward by a year, but, no, it has been pushed back to 2024, which i do nothing will _ been pushed back to 2024, which i do nothing will make any difference to our medium—term fiscal outlook. it focuses _ our medium—term fiscal outlook. it f

hi, annabel. - [nina] can you shake hands annabel? - hi. oh my gosh. how are you?(chuckles) four year old annabel frost has a heart-wrenching genetic disorder. could you tell me a little bit about annabel? - when annabel was born, it was such a wonderful moment. but we were in this happy fog and didn't notice the nystagmus. the eye movement. we didn't notice the jerky musc movements we didn't notice any of that, but the doctors realized that something was wrong. - [kondwani] they diagnosed annabel with alternating hemiplegia of childhood or ahc. - hi. - [kondwani] this extremely rare disorder causes debilitating spells of paralysis, delayed development, and life-threatening seizures. - she'd have days of paralysis where her full one side of her body, she'd drag it along behind her as she crawled. - [simon] you know, once a day, she will have these choking episodes where i need to pick her up and hit her on the back to make sure that she could breathe. (ominous music) (dramatic electronic music) - annabel's condition is a result of a problem in her dna. the twisng d

annabelle rutledge and host: penny nance. appreciate you

host: let me take the question to penny and annabelle. >>

annabelle: just speaking of tesla because dollar strength is weighing on those results but take a look at how that currency is playing out this morning. the yen, we are on watch very close to that key one for -- 150 level, for any signs of intervention. perhaps not to reverse the weakness in the currency but simply just about introducing a little bit of two-way risk into the market sell a lot of debate about where and when we could see that. it is worth pointing out implied volatility at least on a one-week basis is still fairly subdued so perhaps there's not that urgency to act in the markets but when and if we do see it, japan oregon futures could be the area to watch given that in the past, we have seen elevated volumes on that contract when there has been talk of the boj stepping into the market on behalf of the government that. it is going to be one we will be watching throughout the session and we do know of course that the finance ministry does not feel the need to tell the markets when i

annabelle: it will signal more downside for tesla on the horizon.200 strike price expiration set for friday, that tells us that at least in the office market, traders are thinking it is a further 5% decline for the share price for tesla. we are in a $211 session, down by 1.5% from friday as well. tesla had to cut the price of its core lineup in china. they had to reduce the price tag on the jeep is a locally built model three sedan by 5%, that is priced at 37,000 u.s. dollars. you have the starting price of the model why suv, that has been dropped by 9%. pretty quite big reductions, international carmakers are having a tough time in china when coming up against locally manufactured items like byd. you also have the new entries in the field like the likes of ne-yo, domestic carmakers of that account for 80% of ev produced in china. a tough market that they are up against when you look at the slowdown we also have on the mainland. shery: the latest on the eeev space in china. plenty more ahead, this is bloomberg. ♪ haidi: it is pudgy here -- it is bud

annabelle: that is right.omething that was closely tracked in a bank earnings given that we do have the fed rising rates. we have inflation that is still strong or increasing in the u.s. as well. that has come through from bank of america and also from the citigroup earnings, jp morgan last week as well. the consumer is holding up, he had an increase in credit card spending in the latest results for bank of america, 13% on the year. that was down to people spending more on traveling, entertainment and when you look at less wealthy consumers, they had five times more savings in their bank balances than they did at the start of the pandemic. the number of cars that the bank of america is repossessing is also halved. this is how the ceo spoke to us about the u.s. consumer. >> the credit quality in our consumer books is strong across the board. the payment and delinquencies are much lower. much lower than any average five best year-type period. they moved off of the floor but they are still much lower than they ha

annabelle: twitter earnings are on the table for next week. this slide we see in companies who rely on ad revenue online and putting more perspective into the size and the scope of losses because meta stock is down 50% and it lead to declines for its online peers. snapchat is down 80%, pinterest is another one that slumped. alphabet kicked us off earlier this week, reinforcing the concerns of a slowdown in the market. this is down more than 30%. more concern around the health of these companies are facing an environment of high and rising rates. we have a head when coming into the session but the flipside of that you are mentioning is a pullback in treasury yields -- we have a headwind coming into the session and we are seeing a pullback in treasury yields. also new zealand is trading flat here at the start. there is another factor that can always unseat the apple card, those are the tensions between what china wants and the west. haidi: you see the to-and-fro when it comes to the types of trading momentum that we see. the nasa golden dragon i

annabelle: and hurting the chip supply chain in economy. some cold water on the stock market, from the jobs report. jobs at -- joblessness at a 50 year low. it suggest the fed is not going to look back over its shoulder and think about a pivot. it is more rate hikes, possibly 75 for the next two meetings, that's what people are betting. if you look at futures, you can see the nasdaq and s&p down about a third of a percent, big losses on friday. s&p 500 down 2.8 for -- down 2.8%. the nasdaq with nearly a 4% loss. moving to the bond market, no surprise with that kind of market and jobs news, the 10 year note yield approaching 3.9%. that for 10 weeks and a row, and it's not just the question of the 75 basis point hike, it is the terminal rate, the market pricing in a 4.7% rate by march. a little bit lower on the screen for the dollar, but it was higher on friday. and oil, higher after those announced opec-plus cuts. west texas intermediate at 16% last week, about $93 a barrel. it is home -- it is holding city at that level. it is concerns abou

annabelle: how are bloomberg equity reported their. -- reporter there. credit suisse reporting its biggest single day decline on record after reporting that restructuring plan. let's bring in sally bakewell for the details. this revamp has been called radical, no half measures, what was outlined in this document? >> lizzo good the top line of this restructuring which has stemmed from years of scandals and management missteps and has been telegraphed from months. it wants to raise about 4 billion francs and is selling shares to invest including to the saudi national bank. it is breaking up the investment bank and has a highly respected investor with a 500 million commitment. and it is selling at securitized products business to apollo. there will be headcount reductions. they are set to decline by about 9000 by 2025. and it has a workforce of about 50,000, so it is quite substantial. haidi: it sound like they are doing a lot, why has it disappointed investors? >> it is a painful exercise and wrapped up into this work very disappointing third-quarter earni

annabelle: yes, certainly that is the case. and the ppi numbers also weighing on currencies, particularly the yen, because we saw it falling once the data set came out and reinforced that fresh low against the dollar given what we have heard from governor kuroda. sticking with the need for easy policy settings in japan, and certainly highlighting the ongoing diversions we have with the u.s. the fed really enforcing the need to keep with that tightening, even if the so-called brain are line got a bit of airtime. also weighing on the -- in terms of the set up today for the asian equities, we have a bit of a mixed start. asx 200 futures last close in the red. new zealand flat today. taking a look at the scorecard for markets globally, you can see this. it is not a great picture for asia given that six of the 10 worst-performing markets in the world are in this region. this week alone korea and taiwan particularly hard hit. it's down to the tensions we see between the u.s. and china and that is why you see the hang seng, not much t

let's look at markets now with annabelle. annabelle: they are picking up off the rba.t of the week' is trading action, a lot was driven by the more dovish move from the same really -- from the australian central bank earlier this week. a 50 basis point estimate started a rally we saw across global equities, including the msci asia-pacific index, coming into this trait today with gains of 4.4%. you can see that we are taking breathing room in the session this morning. a broad-based a lot today. most sectors are lower this morning, really driven by the flipside of what we are hearing from fed officials. they are not near the peak rate narrative and nowhere near ending the tightening cycle and more fed officials were reinforcing this overnight including minneapolis fed president neel kashkari, saying there is a ways to go in this campaign. others really backing him up on that. that is the picture across the msci asia-pacific index right now, you can see on your screen, it is off 6%. and the other thing we are waiting for in the session today, trading volumes are very thin

let's go to annabelle on more.e jobs numbers are very volatile, you never know what to expect with that one. something that is helping is the return of labor in the country. immigration is picking up and that also relieves a bit of pressure on the rba because wage pressures in australia are not as pronounced as they are in other countries, so the rba can perhaps end its tightening cycle earlier than its peers. we have already heard from fed officials like charles evans from the chicago fed, saying that there is a need to keep rates in restrictive territory to bring inflation pressures under control. that is certainly playing out in the equity space this morning. we read across the screen at the start of trade for japan and korea. one hour into the trading session for australia. other sectors we are keeping an eye on, we are focused on the bond yield space as well. we are seeing treasury yields and bond yields rising, led higher by what we are seeing in the shorter duration treasuries. you can see the jump in the q.

manus: annabelle, a lot to contend with on a monday morning. annabelle droulers in hong kong. what are the events of the week? you've got the october pmi. tuesday will get consumer confidence. when say, u.s. home sales. there we get the ecb rate decision and lots of people are talking about when they raise rates and then had to back track , but to not raise rates this week could be a folly. bank of japan watch all we could, but the rate decision comes in on friday. that could explode a mammoth amount of carry trade's out there. funded in the end, it's not just dollar-yen you want to look at but all of the crosses where you can see an explosion, picking off risk. coming up, rishi sunak edges closer to becoming the next u.k. prime minister as boris johnson pulls out of the race. this is bloomberg. ♪ manus: it is "daybreak: europe," i am manus cranny in london. let me show you the price of hedging against political risk in the united kingdom. three-month risk reversals are quite expensive, more expensive than hedging for the downside in covid but nowhere near the nadir of brexit.

annabelle, what is driving the news today? >> really, it is down to what we are hearing from fed officials. they are reinforcing that we must continue this fight to rein in inflation and stick with the path of tightening. you see that reflected in the treasury and bond space throughout the session. the dollar is looking a little bit flat but there are a lot of moves across the equities picture. taiwan going into the break. dani: thank you very much. anna bought -- annabelle in hong kong. those moves are fascinating. samsung, as well taking some pain. coming up in the program, we will get more on how the feds hawkish stance is turning markets. we are hearing from speaker after speaker. we will discuss that, next. this is bloomberg. ♪ dani: the pivot narrative has -- it is a model that looks something like the bank of england intervention last month to stop the chaos. scott is the latest to put this forward, yesterday the chief investment officer saying that the end of fed tightening will come when something breaks and cracks ar

annabelle: what about the weakness we see in the yen?a lot of companies forecasting a rate much stronger than today. how do you see that impacting epson's next set of earnings? yasunori: weakness in the yen has an impact where we have to purchase parts and materials from overseas. on the other hand, when we export our products, it's cheaper for people to buy them abroad. the impact on the weak yen is pretty much balanced. haidi: that was the ceo of epson speaking with annabelle earlier. you can watch the interview on our interactive studio function. this is bloomberg. ♪ and it's easier than ever to■ get your projects done right. inside, outside, big or small, angi helps you find the right so for whatever you need done. with angi, you can connect with and see ratings and reviews. just search or scroll to see upf on hundreds of projects. and when you book and pay throug you're covered by our happiness it's easy to make your home an a check out angi.com today. angi... and done. kathleen: let's get it quick check of the latest business flash

annabelle: black pink is one to be watching.that could be a front-runner to replace bts if the military service needs to come through. kathleen, i don't know your views on the k-pop scene. kathleen: it is not my main form of music. but i do love it because of the dancing is so great. it is not just the music. it is the movement and i am a sucker for that. watching videos like that makes me want to watch it more. let's go on to third-quarter net income. bloomberg intelligence sees the company on track. let's bring in the industry analyst. what is your outlook for the rest of the year? ada: it reported a 16% year over year growth for both revenue and net income line for the third quarter. this is largely driven by its direct to consumer sales which more than doubled from last year. the company has a 15% year on year growth sales target for the full year of 2022. and we believe the company is on track to deliver that the rest of the year. haidi: the stock has been under pressure on the back of this alcohol ban. the problem is it is

let us bring in annabelle.r, when it came to earnings, even netflix has a scriber growth, the u.s. consumer is holding up. what are we expecting in the next few weeks? annabelle: we have quite a few more companies reporting in the days ahead, the likes of tess lee, airlines, coming through and it is not looking that great in the lead up even though we have seen the u.s. consumer looking pretty robust. when you look at where analysts are looking, we have seen cuts across the consumer discretionary sector. a jump in profits and that is where we are now. we are looking way percent move to the upside. why retail demand is so important, we know this because it does give us a pulse check on how much consumers actually are withstanding inflation, interest rate hikes, as well as whether or not they can withstand the longer-term or all of the concerns around recession have legitimate concern. there is a big correlation between the consumer discretionary sector and the broader performance of the s&p 500 index. we have ha

let's get over to annabelle. annabelle: picking up what you're saying about the leading index.ng commodity prices are also -- also high rates have been weighing on over the past few readings, that is something that is determining the outlook of australia's central bank, you can see this chart. when you take a look at our economic surveys coming from economists, the rba is expected deposits tightening cycle earlier than his peers. other issues that could happen, we have less wage pressures in australia and the economy. the other factor is the fiscal policy seems to be tightening as well. in terms of the set up for the direction of stocks today, it seems like investors are putting central bank moves aside. there are other positive factors that are seeing risk sentiment improving throughout the session. futures, we have seen's -- seen stocks moving up, 30 minutes into the trading session where in the green. new zealand online. also the nikkei futures contract and singapore looking for a small mover to the upside of the open as well. we had better earnings coming out, solid start t

annabelle: we are counting down to asia's major market opens. kathleen: i am kathleen hays in new york. now the top stories. xi jinping warns of dangerous storms ahead, opening china's party congress with a defiant message. haidi: asian stocks may tumble. fx traders are bracing for possibly an intervention, the currency tumbling toward a key psychological level. kathleen: financial markets had to deliver the their verdict on the u.k. prime minister's economic reset she fights to save her premiership. annabelle: this is the start of another trading week in asia and this will be the first chance for traders to react to xi jinping's speech at the weekend, the two hour address at the national party congress highlighting key areas, specifically the environment. tech. national security. some strategists are saying what happens, this is basically china's answer to the nasdaq and we saw it rallying into the party congress on sunday. otherwise, covid zero, the maintain infosys on very strict virus measures. life over the economy. that will hit trading se

let's bring annabelle into talk about what analysts are saying about central midi members.abelle: this change we are seeing in the terms of the leadership, xi filling those top bodies with people close to him. we did see four of the seven members replaced and this new focus we have or lack of knowledge around a central government experience but still there is the understanding of what happens at the provincial or local government level. a lot of strategists and analysts are focusing on what this shift in career background means. amc says given the knowledge base is changing, that would address the key issues facing the chinese government and where policies are going to need to be addressing issues in the years ahead including issues around the property sector and local government debt levels. analysts coming in on this -- jl l saying new members of the standing committee should have more flexibility around the growth target. that should be pivotal this coming week given we are waiting on that delayed gdp data as well as the activity numbers. they should be bleak when they d

annabelle: we are seeing aussie stocks snapping their two day slide. this is being driven by the news in treasury yields in multiyear highs. shery can get through the details but what we are seeing in the aussie bond space this morning, particular the moves we have in the three year yield. but driven by what we have for the fed in this moves board smaller rate hikes after that 75 basis point hike in november. the rba says it will be data-dependent. also dependent on how have -- how households react to conditions. we had the aussie earlier higher against the greenback but we are seeing that pullback into losses. the rba saying it not concerned about the depreciation. mostly it is against the greenback in a trade-weighted basket. let's look at what we are seeing for the yen this morning. we did see the yen sliding 1% against the dollar. we did have the big spike come around 2.7 percent with officials intervening once again. also tracking what we are seeing in the other g10 currencies, the currency online but the pound here moving higher. rishi sunak is d

annabelle: not great results coming through. the big take of the day, focusing on the industry and not at a great time to have poor performance. because if you are a hedge fund clients, you are probably looking toward this sort of trading strategy to buffer you in the bear market. look at this chart showing the share of runs by return so far this year. the vast majority have seen a drop of more than 10%. i do look at some of the bigger names, tiger global in the worst shape globally, more than 50% of a drop rate d1 capital partners declining 30%. lone pine capital, assets up 42%. the list goes on. this is around 25% of hedge funds have seen declines up to 10%, but less than a quarter are getting a positive return. now, in terms of which hedge fund style has seen the biggest change, one clear standout is the long-short hedge fund trading strategy. we are seeing outflows, clients really taking money out of these funds, around $25 billion this year so far. that is net withdrawals. when you look at a longer-term basis, five years, i

this is james pay you are on with penny and annabelle. caller: good morning.t: what's your question or comment. caller: my comment is this. for you all to say christian and using politics saying we are conservatives, we are going to put our policies before christianity, you sound like a hypocrite. you are sounding like your listening to the republican party and saying people that are not christians are not supporting what's right in this country. and you are putting women in a position that they have no power over their own bodies. do you remember when jesus christ was met with these christian people and they brought this woman that was caught in adultery and they tried to use that against jesus tomb charge this woman with a crime but they left the man out and they said let he without sin cast the first stone. host: go ahead. guest: i would love to address that. certainly we believe that our faith is separate and apart from politics and i would just say to anyone listening i don't know who's listening today but god loves you, jesus died for your sins. we are a

i stumbled upon the of anna pavlova in i learned that annabel bobo kept telling annabel pavlova was the world's greatest dancer and probably the greatest international figure of her time in the 1920s and early 1930s, when annabel blow died, she kept on telling people i was poisoned i was poisoned. the food in paris. she said it over and over again immediately upon climbing into a train it remained a mystery for many years why she the academy award winner of 1932 for best picture is called the grand hotel. and it's about the mysterious of a russian ballerina, loosely based on anna pavlova. so it was one of history's great mysteries. we stumbled upon all of stuff showing the operation of the russian poisoned meringue called gang operating in paris and using anthrax to poison large number of people. it isn't. they were embarrassed by it. they were proud of it. very proud of it. they were all executed by stalin in the end. so once we got pavlova and pavlova was sort of the example of what was happening, she became kind of the heart of the book. why? well, first, pavlova was poisoned. she wa

annabelle: -- shery: stephen engle there.e have breaking news at the moment, we are hearing vice president joe biden as congratulated the former president of brazil lula de silva for winning this runoff election. it was a very close election. we have seen the electoral court here in brazil called the election for lula. we are waiting to see if the incumbent president bolsonaro does in fact conceived, but at this time we are hearing from world leaders including emmanuel macron of france congratulating lula as well as u.s. president joe biden congratulating it also lula da silva. >> we start with the tragedy in south korea, south korea's president is giving it to be addressed promising reviewed safety measures after sending's credit crash in seoul that killed 153 people. it happened in a narrow alley as tens of thousands of people celebrated halloween, first such festivities since covid restrictions were lifted last month. the news said 97 of those killed were women, and 20 were internationals. a bridge is collapsed in the west

let's get to annabelle now.le: that is right, the uptick we are seeing from the drug trafficking ratio, something bloomberg economics expect to strengthen in the months to come but will it be enough of the boj? a very busy day, a new announcement around stimulus here, so something to counter those effects of higher cost around energy, food for households, also to encourage wage gains further. so that coming in around ¥30 trillion. analysts saying that is more than what is needed, saying something to the tune of ¥5 trillion or ¥6 trillion would have been more appropriate. interesting given the reaction that we had the markets when the ok budget that was announced -- u.k. budget that was announced. we are looking for japan stocks to open lower today. they yen holding steady as we await the key boj decision. it is very much a day driven by what happened in wall street overnight, weaker earnings that came out particularly from amazon forecasting weak holiday sales. that is the state of play half an hour into the tra

annabelle: it shows just how slight the labor market remains.he primary constraint on big business. a proportion of businesses reporting debt -- it's the primary constraint that continues to increase. looking at some other measures in finding skilled and unskilled labor, we are seeing signs of a shortage. labor shortages remain very acute and it does point to continue pickup and wage growth over the coming year and that will add to inflation in terms of the pressures. haidi: christina leung joining us to preview the rbnz decision which you can get more on on your bloomberg at tliv . you can get commentary and analysis from our team of expert editors. this is bloomberg. ♪ zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 billion last year. that's decision tech. only from fidelity. >> take a look at how twitter and tesla are trading after hours. twitter surged 22% in new york trading and even tesla climbed after elon musk said he would reconsider r

we will get more from annabelle droulers in a moment.lds are moving higher in the u.s., bringing back above 4% for the u.s. 10 year yield, but yesterday was the first day of lower yields in 13 weeks. it is that step down there that is taking hold. this also means there is a weaker yen looking at the interest-rate differential. finally, wheat prices are surging after russia backed out of the safe passage deal and we are still expecting weeds to be moving through out of ukraine thanks to the u.n. and turkey. they are starting the week on the front foot, rising for a fourth session out of the past. annabel, walk us through those moves. >> in the session today, we are fairly risk on across the board. you can see that every single equity market is in the green, a picture of how much traders are still focused on those corporate earnings out of the u.s., the likes of apple, caterpillar, hoping to avoid that. in terms of the lagger, the csi 300 extending its losses into the afternoon trade and also reflected in what we are seeing in the yuan as

annabelle: we are counting down to asia's major market open. shery: the top stories this hour. u.s. technology stocks fell after hours on disappointing earnings from some of the industry's biggest names including alphabet and microsoft. haidi: australia warns of growing debt and deficits as the latest government holds down spending in the first budget, we are live. shery: the twitter takeover saga going to the end, final steps to sum up the cash. the asian trading session, we have the misses coming from the disappointing technology earnings, that is pressuring the market, in the new york session we had a third day of rallies. we had the likes of gm and coca-cola coming up with positive results and that supported markets. we how the 10-year yield falling for .1%, bonds continue to rally. we have seen oil under pressure in the asian session, we are slightly higher in the new york trading session. look at the after hours of trades because microsoft for example talked about the surge in dollar. -- the surge in the dollar hitting their revenue. we saw the gain in the new york session. el

annabelle droulers will take us through market moves in china. the uk's incoming prime minister rishi sunak has warned of the profound economic challenge facing the country. sunak will become the first hindu leader, and the first non-white leader in more than 200 years. and it is outside the houses of parliament, what is the order of process today? anna: the third prime minister in just two months in the u.k. will be meeting the king in a series of events we have become increasingly accustomed to with more frequent changes of leader. prime minister truss will leave downing street, she will say some words and go to see the king. and rishi sunak, not the leader of the conservative party will go to see the cane, the king will ask him if you can form of government. -- if he can form government. then he will make a statement in downing street if the rain holds off in front of media. it will be interesting to see how he reflects on the importance of it coming prime minister for the reasons you mentioned, the first hindu and british asian prime minister

let us bring in annabelle for more on the results.: keeping with the numbers that came through in the last few minutes, we saw in the third quarter profit numbers 60% drop here. operating profit declining $1.7 trillion. you put that in contrast to what analyst had been expecting which was 2.5 trillion won profit. that also missed the estimate of 12.2 million won. the problems and only facing sk hynix but also where the inventory levels and wheat exports and thinking about inventory levels with all the numbers doubling in the previous quarter. as i said, those warnings have been coming through from other chipmakers, pc supplies, the semiconductor market is heading into a sharp downturn there will be lasting until at least the first half of next year. you have the concerns around recession risks also soaring inflation and that is forcing customers to cut back on their spending. haidi: it was the reduction in capex spending which follows what we have seen from other chipmakers. that was one of the big headlines. annabelle: cutting capita

annabelle: u.s. futures seeing a little bit of an asian session -- sing a little bit of a pick up on the asian session. when it came to the semi conductors, the pressure was felt across the board. november 2020 lows down 40%. not to mention it was not just washington's actions but it was also the fact we got a peek into earnings season that did not look great last week with samsung. crude prices falling for the first time in six sessions. we continue to see the downside pressure. mobile demand concerns coming to the forefront despite the fact we have opec plus announcing production cuts. not to mention geopolitical tensions around ukraine. we were and it came to the $24 n treasury market, you can actually see how central banks and foreign governments have been offloading treasuries. we are talking about this record laws of $29 billion last week. we have had countries dipping into the foreign exchange reserve given pressure on their currencies but we have the ongoing qt with the fed being out of the e

annabelle: it's being played out in the bond space.er on the three year yield following those comments that have been dropping in line, reflecting those moves we had in the broader bond space given the u.k. policy pivot. terms of the reaction the aussie dollar, it pushed beyond that level, a currency that has been affected given the more dovish 25 basis point hikes. down to the yield gap, comments are coming through, we have rate rises ahead from the asx 200. it is a risk on day, every single sector is in the green. that sounds what we're seeing in the oil space. in has stuck in trading between mutts watching opec-plus, you have the fed and recessionary outlook underway. we're eying the key 150 level. we have to allow it to weaken further to set up a trap. shery: we are seeing chinese jump dollar bonds falling to new records below $.56 this monday. this is coming at a time where a quarterly loss just happened to stabilize the property sector. this is a chart on the bloomberg , down 15. we have fresh declines given the property sector s

annabelle, how are we setting up?abelle: we are looking to go into a second day of gains paid we already have the asx half an hour into trading here and you can see that reflected with a pretty big tailwind coming into the session even though you can see futures are little bit weaker but phil, we have the best two day rally for u.s. stocks in more than two years. a lot of that down to this expectation that some investors have that central bank's could be nearing the end of their tightening cycle and that was reinforced yesterday by the rba because we have that basis point move seen by a handful of economists because most of them had been expecting a half-point hike for the fifth straight meeting. the rbnz meets later today. the other part of this story of the rally here is also what we were seeing in terms of the rsi is so most of these markets at oversold conditions coming into the rally so some strategists saying the pessimism really had reached such extreme levels that i bounce was just a question of when it would

annabelle? annabelle: we are out of the gate for the asx 200 here, opening to the downside. sour mood across the board in asia. for the final day of the trading week, particular focus will be on detect sector today. we did get those earnings out from snap, huge slump in the after hours with slowest quarterly sales ever. you add to that when he had reporting on twitter, could be a major job cut on the way, so not a great outlook for the tech index. also being hit by what we are seeing in the rates environment as well, watching what is happening in the three year and tenure. tracking the moves that we had in the treasury. let's switch it up because also, the yield gap between the u.s. and japan certainly weighing into what we are seeing in the yen well, holding above that key level of 150. psychological point, also possibly one that can require intervention from the japanese government. no confirmation on whether they have stepped in or what they plan to do, the chinese yuan as well, the offshore here, the focus, given that we see expanding tensions between the u.s. and china,

why don't we go to annabelle? annabelle: it is interesting when you look at the terminal chart.de we have between north and southeast asian exporters. these exports from indonesia still holding up in china. this region really dominated more by southeast asia, dominated more by the essential goods like palm oil, refined petroleum products. you are looking more at things like chipmaking equipment, automakers. in terms of across the board at markets, there is one major thing we are watching, the energy sector. we are off the highs of the day but still up around 2.7%. in terms of trading, stock index in the red. energy is still sitting flat but it has been in more positive territory. this is all about the deteriorating public outlook. that's my opec plus is considering a major production cut, the biggest we have seen since the start of the pandemic. that came through in the economic data from japan as well. haidi: let's talk more about the survey on large manufacturers. we are not going to get very strong sentiment at the start of trading for the week. we have seen it worsening for

annabelle takes a look at asian markets. manus: elon musk completed the $44 billion take over at twitter. amazon and apple -- amazon battered by 20%. matt is with us on tech watch. what a story on twitter. read headlines are coming in fastest morning. if we reflect on broader tech, i think it is a big warning shock about the quarter to come. >> i think you are right. i think the results were quite similar. it was 15% between 2% and 8% in the holiday quarter. really anticipating a sharp slowdown in consumer spending. quite a gloomy outlook. dani: back to twitter. i am trying to look at some headlines here. a shakeup of management. how should we view all this? >> we have not had official confirmation that the deal has closed. he is planning to take the helm. i think it was a big surprise. he is planning on being the personal project for sometime time now. whether that means he will insert -- and reinstate people immediately, we will have to wait and see. dani: i do not doubt that. thank you for joining us. from a tech to the e

iran that is right -- annabelle: that is right.in terms of the set up today, we are looking to take their cues from wall street. aussie features last up 1.3%. new zealand in the green. dollar wise, it is in a tight range ahead of the fed decision. beyond the fed, there are other events in asia on the calendar this week. you have other central banks making their decisions. australia, malaysia later on. we are expecting a 25 point hike from both. the rba in particular we watch because we could not get signals for the end of the tightening cycle. we have pmi ratings later. this is an economy struggling to rebound. you are focused on the outcomes of the brazil election. it is looking like it will come down to the wire. shery: we are getting the latest when it comes to brazil's vote count at 86%. we are seeing little at 50.4% against bolsonaro's 49.6%. we have seen optimism in the first round of the election where we saw bolsonaro having a stronger showing than expected. this is how markets closed in the final session with the uncertain

annabelle: we are counting down to asia's major market open. kathleen: i'm kathleen hays. now for the top stories this hour. president brian says -- president biden says he is not reinvested in production. haidi: bond yields climb ahead of the fed. jp morgan says the global hiking cycle is nearing an end. kathleen: the australia central-bank, expected to raise rates by a quarter percentage point as a housing downturn extends in every major city across the country. a quick check on wall street now, talking to you about an october rally that ended on the downside. the first of the week, the last day of the month, a decline. we had dennis stuck down 1.5%. big tech, the s&p, down three quarters of a percent today. the question now is where we go next. you can see a little bit of a bounce here. not much of a move. of course the big banks are saying the pivot may be just around the corner, as the economy starts weakening. when you look at bonds, i don't see any pivot being priced into the bond market. certainly not the u.s. treasury market. the 10 year yield, back to .05%, the 1

annabelle, thank you so much.ntly, don't miss our exclusive interview later with new zealand's finance minister, grant robertson. as they signal more rate hikes ahead. he joins us at 10:30 a.m. in hong kong. coming up, we review this trust -- liz >> we gather at a vital time for the united kingdom. these are stormy days. in these tough times, we need to step up. i am determined to get britain moving, to get us through the tempest, and to put us on a stronger footing as a nation. i had three priorities for our economy. growth, growth, and growth. [applause] cutting taxes is the right thing to do morally and economically. high taxes mean you feel that is less worthwhile working that extra hour, going for a better job, or setting up your own business. that, my friends, is why we are cutting taxes. ♪ >> the u.k. prime minister liz truss. speaking at the tory party conference in birmingham. our next guest says truss faces a hard task to prove competence. we've got ben wellings joining us on. it is dovish control at thi

annabelle: that is the hope. clinging onto any good news. this is the world index. u.s. at a more realistic outlook, margin loans on the balance sheet gives stocks a bit of a boost, how much he is priced in and we could see a bear market rally, the sentiment gauge is flashing a signal. a lot of stocks are looking very oversold. rishaad: other strategists are pessimistic. annabelle: jp morgan put a note out on friday saying there are growing risks from central banks , he is one of the most vocal bulls on wall street. the assumptions are central banks could avoid a policy mistake, that there will be a de-escalation and perhaps that is not the case. let's take a look at the terminal chart, taking a look at bond yields. haslinda: heading to stress in the markets, liz truss is facing growing eddies -- at ease two/taxes. she is admitting some mistakes were made. >> i stand by the package we announced. i stand by the fact we announced it quickly. rishaad: [indiscernible] the tory party starts today. tensions do not particularly help. >> we heard liz truss sticking to the plans.

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annabelle: we are coming down to the market opens in tokyo and seoul. haidi: australia has just come online. asian stocks facing headwinds after a fourth day of declines on wall street. chip stocks sinking to 2020 lows after fresh restrictions on china. fed officials voice caution on inflation as the imf warned higher rates could inflict a $4 trillion slowdown. japan reopening its doors after three years of covid controls. haidi: we have aussie stocks online. unchanged. functionally higher as we get into the first minute of trade. perhaps reflecting some of the momentum that came through later in the u.s. session. down to this more optimistic town or more positive tone by lael brainard. sort of running counterintuitive to what we have heard from other fed officials pick keeping an eye on on what we are seeing the bond space. treasuries closed monday. we did see an aggressive selloff against the guilt curve. driven by what we had from the boe concerning it will end it's long-duration buybacks from friday. if you change on now, interesting moves in the cu

annabelle: absolutely.ng down to the open for japan and korea and what we will see from treasury, because that was the big watcher in the u.s. particularly what we saw in the five-year yields dropped more than 30 basis points, coming online, looking like this. but really, this was down to weaker economic data that came out, also some liquidity conditions that are looking pretty tight as well. but it was something that also prompted the u.s. stock to do their best start in october, one of the best since 1930. so a lot of traders are really starting to pivot on just how aggressive the fed will need to be. but that sets up a risk on mood and asia. the nikkei is coming online at 1.6% to the upside. the yen looking like this below that key 145 level. we are watching closely for that. let's turn to korea. as you said at the top of the day we are still keeping an eye on what we see in terms of geopolitical risks that could be the key factor of the sentiments. watching for further reactions that we do get from nort

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