and dg bees are rising on the boj decision today.ch for any clues on bond buying from the boj for the month of may. doubted security says there is low chance of a tweak being made. on the end, that 108 level looming. in south korea, first quarter gdp report came in better than expected. consumption is starting to rebound. but a worsening virus outbreak remains a key risk. the yuan is on a stronger footing. while we have the kospi with little changes morning after a three-day rise. moving out of the open in sydney. watch reaction to mna news and macquarrie making a bigger deal. we are seeing shares jumped nearly 6% in steel this morning. helping the ac hundred -- asq 100 1% today. industrial metals are on a tear. this valley is causing record profits. we've seen the hot rally extend across the metal complex. it is pushing the gauge to 28 2013 hi. there is a looming risk of china derailing this run on potential measures to cool prices. also want to put a spotlight on food prices. still concern around inflation peers with crops like whe

yesterday, after the competition, the boj -- the complication, the boj says it will purchase less bondsu are looking at it on your screen. jp morgan putting everything together. they are saying to forget the -- don't forget the boj planes to keep the yield curve low and stable. it is probably on the longer end that that you will see more steepening, gradual is what they say. the auction should be out in about 60 minutes from now. rishaad: bank of japan getting -- giving more wiggle room. a quick look at markets as we head to the japanese lunch break. traders in tokyo. this is a look at some of the companies making headlines. mitsubishi ufj has increased its full-year net income forecast. a $270 million loss is less than what we anticipated with regards to archegos. toshiba on the way up, nearly 5.5%. was up about 9% at one stage. it has a significant stake in holdings, one at the moment under a bid from micron. 9.9% up. it is the biggest rally we have seen since february 2016. massive buyback taking place. 200 billion yen the consideration. this is bloomberg. ♪ want to save hundreds on

we do get the boj meeting tomorrow. plenty more to come.is bloomberg. ♪ shery: intel's latest results are stoking concerns the chipmaker is you losing market share. revenues dropped and saw a steep decline in gross profit margin. the intel ceo spoke to bloomberg's emily chang about the company's plans. >> when you raise the year by half $1 billion, i expect a little better response from the market. disappointed to see that. but we also understand some of the concerns around data center and where we are. we had a blowout last year in data center, so it is a tough compare. we were a bit ahead of where we thought we would be on data center. we just rolled out some major products in that area. we started to move into our 10 animator and seven animator, it's exciting because it means we are getting more competitive and back on our front foot with, manufacturing capability, but it does bring some cost into the business. our story is a very different one. we are leaning in, we are executing and feel good about our future. emily: you explained that

we had the boj -- we are focusing on the 20 year change in the auction next week.he kospi is doing at the moment, no changes at the moment. investors on the sidelines given we have the bank of korea's rate decision today. not much expected from that decision, they are expected to keep rates at half a percent. the korean won now unchanged as well, not a lot of movement in the korean markets, this after the korean won saw its best day in about a month. we have south korea reporting the first jobs great is the pandemic began. we have seen a little bit more of a risk-on sentiment across the country, haidi. haidi: we are about 50% away from the february peak for the asx 200. kiwi stocks also up about 0.5%. we know that the economic outperformance, the handling of the pandemic has not really translated to equities, much of a boom in new zealand, largely thanks to the rate differentials there. looking at the oil market. we are seeing a pullback when it comes to brent crude, trading 1% lower. he jumped almost 5% overnight, adding to signs that the demand outlook post-covid

boj rate decision tomorrow, the fed meeting wednesday and the day after that, the u.s.ting first-quarter gdp numbers. for more on this, we are joined by our guest from deutsche bank. i wanted to start with the whole export picture that has started to come together. we had a story early this morning, early indicators in china showing momentum is continuing because of external demand. exports are moving, obviously. is there anything more feeding into that story? >> it is not just the base effect. if you look at january and february for asia as a whole, not just china, the potential improvement in terms of exports, it grew more than 8% from the previous quarter. it is not just about the base effect. it is clearly a sequential provement in exports as well, and that is driving and supporting growth for asia when some of its markets and economies are under pressure as far as demand is concerned because of covid outbreaks. david: part of that story is taiwan. i mean -- that has been on a whole different level from pmi's to the currency, to the equity market and export orders.

the boj came through with etf buying after the topix fell more than 2% on wednesday.lso, something for investors to latch onto. earnings are picking up in asia. set to report today. wti is edging towards $61 a barrel on that surprise pickup that we saw from u.s. imageries. palladium heading a record. quick check on currencies this thursday morning. checking in on the loonie. trading around 125 after the best jump in 10 months. the tapering plan has brought forward market tightening in canada. erdogan defended the countries policies in turkey, saying the central bank could dip into reserves once again if necessary. aussie momentum is a little bit forced out there ahead of a reading on business confidence in australia. the offshore yuan trading below 650, holding and it -- an eight day gain. looking ahead, city recommending going bullish you want exposure. u.n. basket strengthening into china strong trade balance. shery: let's turn to australia. it canceled agreements between china's belt and road initiative and the victoria a -- state government in a move that could wo

the boj had to lower its inflation forecast for its fiscal year, citing cheaper mobile phone bills. that is going to put some pressure on the end. also watch the seven year space. we get an auction coming up at 1:00. keep your eye on that. guy: as we have been discussing, today is all about earnings on both sides of the atlantic, and it is going on all week. on average, european companies in the stoxx 600 have seen profits more than double on a year on year basis. corporate executives talking about that strength to bloomberg. >> if you look at what really fueled the results this quarter, it has really been the success of the vaccine programs. >> we can see a strong recovery in the markets, but also all segments. >> you're seeing strong demand in america and in china. >> we expect stabilization to continue. innovative medicine should be firing on all sale and there's -- all cylinders. >> we expect things to stabilize, which allows us to keep our full year outlook contact. >> we are very confident about customer activity. >> i think the vaccines are going to kick in now in europe. . >

under boj attorneys general jeff sessions and bill barr, opening one investigation into the springfield, massachusetts police department in 2019. at the time they noted what a huge mistake that was. what an unused power. >> this justice department is not interested in remedying major systemic problems in police departments. >> the president, jeff sessions, bill barr have been uniformly focused on dismantling the police reform effort that's the justice department had been engaged in. this justice department has really walked away from the role that it needs to play. >> the donald trump lost and joe biden won and to date federal government is getting back in the game. joe biden's attorney general announcing an investigation into derek chauvin's police department. >> yesterday's verdict in the state criminal trial does not address potentially systemic policing issues in minneapolis. today i am announcing that the justice department has opened a civil investigation to determine whether the minneapolis police department engages in a pattern or practice of unconstitutional or unlawful policin

for the boj, policy is already impacting at 0.5%. difficult to imagine that they would do even more. it would take downside growth risk and the quickly measures will involve things like these opportunities which they have been doing like going forward with korea. korea is one of the central banks in asia that is expected to not normalize policy this year. we are respecting to see korea 50 basis points higher. mas has achieved it. inflation is very low. i can't forget the fact that these types of things have -- rishaad: very quickly, with the further sustained dollar strength smr envisioning, who stands to be the biggest victim of that in this part of the world? deyi: if we do get very strong dollar appreciation, it will be the economies with higher vision pressures that will be exposed. this will likely be india and indonesia. we also do not expect 10 year levels to be up in any way. from that perspective, we think that asians could benefit from the stronger u.s. growth. rishaad: thank you very much. don't miss an inclusive with the

that should be the focus of the boj in its monetary policy, to ensure support for the economy, monetary do you agree that this is an important part of the ability of the government to finance the debt? >> i think the way to think of it is to raise inflation expectations, you need all macroeconomic policies working together. i guess in recent years, you have flexible fiscal policies adjusting as needed to any downside risk. we saw that in 2020 with monetary policy, and structural reforms are quite important. boosting japan's growth prospects. all of that together leads to a more sustainable -- one of the benefits japan has is that most of its debt is held domestically. the standard worries people have in terms of emerging markets. japan does have a relatively elderly population. that is a negative part of a relatively high debt distribution. [indiscernible] >> broadly speaking, what do you think of their current stance? what do you think some of the recent weeks they have made to their policy -- tweaks they have made to their policy? >> the bank will remain very accommodative until infla

shery: you see any problem with how involved the boj is in the stock markets?st: this is an interesting question. it does more for the markets slightly because essentially for big stocks, it buys the biggest company so those two things. one, it tends to make companies more expensive. we base our buying on the value of the company. the mid-cap category or something is cheaper because they're not in the index. they then move into the larger cap sector and become part and then there is a bump in multiples. that is the nature of the beast. the central bank involved in supporting its market and just something they have to deal with the aftermath. shery: fred you have your thoughts. -- great to have your thoughts. we are getting a specific date when it comes to joe biden and the president of south korea summit. we are hearing from the presstek cairn terrier -- press secretary that it be on may 21. following also a very recent prime minister rutte summit with joe biden himself. we know that washington as a month long review of north korea policy so that is expected to

the boj governor appeared in parliament today.ing for any indication of inflation with the nikkei news reporting they are considering testing -- cutting rates. the open on south korea this morning, a fresh record on monday. the kospi little change, but the downside this morning. more headwinds coming together for the index. goldman says it will lead to a loss of revenue that we've seen in the past. we are paying attention to possible outlooks from emerging markets between ems and dm's. switching out the board now the head of a meeting, falling with the yield curb their. trading around a one month high. little change with the start of the staggered open. in sydney here. the offshore yuan is trading around a 651 level ahead of china's prime rate decisions on tuesday. no changes expected there. commodities edging higher. we are seeing some caution in markets. pulling up a chart on the terminal, global cases have hit a weekly record. surging infections in india are a key concern in asia. the governor -- the government there is lowerin

will be to upgrade for japan, and we have the survey by the boj last monday, use of a confidence level. what we are seeing with japan is momentum, earnings have been strong. we have also got a government and big business which is more supportive of foreign ownership of japanese companies. we saw that with toshiba last week. there is overall a better appetite, and a more, let's say, open appetite towards foreign investors. shery: the joint head of aipac, always great having your thoughts. let's turn to vonnie quinn. reporter: global for tallies surpassed 3 million over the weekend as the pace of debts continues to accelerate in developing nations. the current death toll comes three months after reaching the 2 million mark, by comparison it took more than eight months to record the first million. the real death toll is likely far higher due to underreporting and patchy data around the world. the cdc just said more than half of all adults in the u.s. have received at least one covid-19 shot. it is another milestone in the nation's largest ever vaccination campaign. almost 84 million adult

looking to the boj monthly bond buyback report due out later this evening.ta of note from japan, retail sales in march registering the first real rise in four months. in south korea, we have consumer confidence strengthening in april, and accelerating. we see some downside moves, but the cosby little changed -- the kospi little changed, this despite the beat we saw in first quart of profit on better than demand pc's and service. we are keeping and i on commodity players for the raw materials sector, staying elevated. the outlook for margins and also a retired class that may get passed on to consumers. the asian market opening little changed while aussie bonds are heading lower at the opening. treasuries looking to trade rage -- range bound with japan likely to curb treating activity. 10-year tips jumping to a 20-13 height on bets that inflation will fuel stimulus on monetary policy and the risk of tightening inflation, so it will become a headache in india for the rv on this as they prioritize curbing price pressures over keeping borrowing costs low. opec-pl

staying with japan, the boj is jumping in on the digital currency trend. the pboc rolled out an electronic yuan in china. we spoke to the director general of its payment and settlement systems department about the possible launch of digital yen in the future. >> [speaking foreign language] a central bank digital currency, a so-called -- so-called cddc is likely to become an option in japan. digitalization is progressing rapidly, both domestically and globally. as a central bank, we feel it is our responsibility to prepare appropriately. having said that, we have no concrete plans to issue a cbdc but we think there is still a need to work on the technology side. we're looking carefully at the current technology and more advanced technology we could use in the future. that is what our experiments starting this month our four. we are making a list of issues we need to solve before the future issuance of a digital currency. >> last time we spoke to you, you talked about the importance of public support for issuing a currency. is there any signs public support

the topics also under pressure, waiting to see if the boj will come through on tuesday morning.ding at the one await handle. it's back above its 50 day line after the dollar bounce back from a six-day drop. turning to south korea. seven-day gain on tuesday with the kospi closing at a record high. the cost be losing 7/10 of one this morning. rising covid cases on a daily basis. the korean won is on the back foot as well, even as we did just the latest flash trade numbers from korea showing continued pickup and korean exports for the first 20 days of the month. australia, aussie stocks slipping from a 13 month high yesterday. the losses are continuing in sydney. iron ore prices have stayed elevated. stocks falling more than 1% even as we saw production updates showing iron ore prices will find more support. the kiwi dollar losing a little bit of ground in the wake of the new zealand inflation data. we saw prices picking up slightly in the first quarter which may ease pressure on the rbnz to ease policy for a seat -- further. the longest run since november. the offshore yuan is up