from with us, james barty bankamerica merrill lynch on set.ou have certainly seen the aussie dollar react to this, rebounding a little bit. we trade at 72.75. how much does this political drama affect your view on the aussie? james: not a huge amount and there is a little relief with a new prime minister who is not the populist. the australian dollar is a kind of global trade currency. aussie got production on yen, which we basically had as a hedge against escalating trade that will dominate the outperformance of this trade in dollar more than domestic politics. if we end up with a global downturn, the australian economy is considered to that and the australian dollar will come under pressure. point you make a good because it is a proxy for risk and tends to be volatile, anyway. this chart is the rate differential. the aussie 10 year yield falling to the lowest since 1981. does this rate differential support the argument for a weaker aussie dollar from here through 70? james: yes, it is a modest influence. rate differentials have a bit of an i

ralf preusser, global head of rates at bankamerica merrill lynch joins us.t do you think of the boj? ralf: it has been interesting. but we need to take it with a pinch of salt in the same way we need to take the quantity guidance with a pinch of salt that the policy guidance talks about ¥80 billion. they are not even close to what the policy guideline is. equally, with the 20 basis points yield range they have signaled at the decision, they interviewed when yields were barely at 15 and now we are back at 10. i think we need to ultimately bojd more time watching the and divine what it is they are after and at this point, it is hard to tell. matt: there was a great reuters toop showing they had wanted raise rates a couple of times and trash that plan. ,t does seem central banks especially the boj and ecb, are struggling to normalize right now. they seem to be willing to do it at a lower price. think that is i the most meaningful takeaway of the decision we have had. the boj is normalizing policy, not because the macro economic conditions foreign ted -- warr an

morgan gets traction here and you have to wder if a wells fargo or bankamerica will employ a similary and thank you for your perective and gerard is with sbc capital markets. >> customer traffic rises with the 15th straight quarter at tjx and that is where we issue ginn tonight's market focus and the retailer this operates t.j. mack and homegoods, my wife's favorite store and it's a quicker than expected pace at all of its divisions and discounted items and ectjx e that measure to remain strong throughout the end of the year and he also hiked the profit forecast for 18, shares of tjx op to 106.46. kohl's decision scale back promotions seemings to be working and the retailer sold more merchandise at full-price this quarter and that helped overall earnings top estimates and the company also raised its profit outlook all year, but the new figure was shyf wall street expectations and shares climbed more than1.5%, nonetheless, to $80.20 and j.mr smuc topped profit estimates end missed on ref nigh as demand for its c products like jif peanut butter and folger's coffee. the company cut its

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