by the boj.there any other elements to the clinical outlook we have not talked about? >> i don't think so. i think talking about 260% of boj -- of gdp for the boj. just talking about more fiscal stimulus, thinking about how they will finance it. there is growing anxiety. >> great to have you with us. we are just three days away from the general election in japan. let's bring in our policy reporter in tokyo. they are struggling to hold onto a seat that includes the western part of tokyo. what does that say about their chances across the rest of japan? >> we went out to look at this constituency. this is in the neighboring areas. this is in the west of tokyo. it is the kind of area you would expect antiestablishment party to do really well at the moment but we went there and we found the candidate there is kind of struggling to send off a candidate from the ruling ldp. the ruling party is failing to generate the kind of excitement it needs if it is going to be able to retake the administration for

japan, of course, we are awaiting the boj decision. traders pretty much taking money off the table after bitcoin reached the 57,000 label. david: i like how that was phrase, bliss evaporating for the crypto space. i guess take this into the bond markets on the rally we are seeing their, bliss taken away from the future growth story, 24 months ahead, but short and yields moving up, and if this is one of your top stories today, the rba, no indication they were going to step in. as you can see, it has certainly gone through the roof here. the 2024 bond picked up with core cpi beating and a broader conversation around this and flattening curves across the board. the flattest level going back to 2021 markets. markets started crashing on the back of us moving into covid. haslinda: you talk about the bank of canada making a surprise, ending the bond-buying program. now we are expecting the boc will embark on those rate hikes sooner than expected. we are awaiting the boj, the decision expected momentarily, and of course, expectations that it w

haidi: bank of america expects the boj to stay on hold.pect the boj to look for the rebounds in the cpi rise -- caused by a rise in commodity prices. we will be looking for any comment but are not expecting any verbal intervention. coming up, anz details. this is bloomberg. ♪ haidi: anz's profit has talked estimates. >> similar to the banks globally around the world, this was driven by the economic recovery, which, as we know, has been stronger than expected, so that allowed anz to wind back provisions that were set aside for a disaster scenario, which fortunately never eventuated, so bank cash profit came in at 6.2 billion dollars, just ahead of x point -- just ahead of expectations for 6.0 $6 billion. they also paid out a dividend more than doubled the amount from this time last year, so they are paying out 63% of earnings. shery: --haidi: customers seem to have managed to lock down pretty well, though. >> that's exactly right. the ceo says customers have finished well through the pandemic, but he did say we will not know the full effect

and the challenge ahead, the boj had upgraded their forecast for the economy next fiscal year, but fors fiscal year, things do seem quite challenging. the bdm market has really outperformed here in the region. to recap some of the breaking news earlier on, more declines out of china are expected ahead. this has really been consistent across not just commodity markets, but also related stocks on coal prices. yvonne: yeah, i think we are close to 50% lower. i wonder how comfortable regulators are with these kind of price drops we have been seeing, but certainly, price cap is what is weighing on the markets right now. david: it is 10:29 in hong kong and shanghai, which also happens to be the date, 10/29. it is friday, moving into halloween weekend. the markets are under pressure, a side street day, we are back to levels of two weeks ago on the benchmarks. yvonne: there are some treats, though, when you look at the chinese government bonds, for example. the russell benchmark, the ftse. let's look at what this means with our next guest. he said this is the last piece of the puzzle. how big

debate we are having in this bank of england is responding to this in a way the fed and the ecb and the bojnot. jonathan: this is really important -- tom: this is important. you are seeing different nations imply a different approach. i wonder how the buddhist bank reacts as they advise madame lagarde. jonathan: i'm seeing norway, i'm seeing south korea, i am seeing them hike interest rates. i'm thinking about the bank of england may be joining them. the big news for most people remains that the ecb, the federal reserve, the boj, the big three with massive balance sheet expansions supporting this market, they have not folded yet in the same way. you're not having the congress asian about higher rates and the ecb like you are at the bank of england. tom: you are not seeing it. this'll be something to set up for the week. earnings part of the story on wednesday. right now we are well-timed to achieved one of our great labor economist. she is inquisitive, out of the michigan shop. claudia sahm joins us. knowing it is a day of celebration in her world, which is labor economics. we want to stay

negative japanese yen trend getting more intense, given not only the divergence between the fed and bojwerful commodities rally. kospi futures up more than 1% at the moment. we have seen two sessions of gains this week already. we might see some more gains at the open. this as we saw the korean won finally bouncing back against the u.s. dollar for the last two sessions. we had seen a lot of weakness against the u.s. dollar, falling below that 1200 level. we will be watching those markets as they get going in just a few minutes. paul: i want to check in on qantas again, rising 2.87% on the asx. pulling back from the earlier pop that we saw. this rise due to the news that new south wales's grabbing hotel quarantine from the first of november -- wales scrapping hotel quarantine from the first of november. travelers that are vaccinated will be able to quarantine at home instead of hotels. this will be the norm going forward. that will provide a boost to the aviation sector. qantas rising. market opens in seoul and tokyo next. we have the details for you. this is bloomberg. ♪ baaam. internet

the boj just last week downgraded its view. this could be negative growth in the third quarter for the japanese economy. kelso wants to push defense spending. he has a bit of a mandate, not as much as he hoped. kathleen: stephen engle joining us there in hong kong. we will have more analysis i had. the former vice finance minister joins later. after days of intense negotiation, g20 leaders agreed on a deal that fell well short of what some were pushing for. president biden called out two nations in particular for call -- holding out. >> russia and china did not show up in terms of any commitments to deal with climate change. kathleen: let's get more from our. editor in d.c.. . what did the leaders achieve on climate change? reporter: disappointment is clear among the activists who are always hoping for world leaders to do more, world leaders who have to compromise, deal with the absence of some major polluters. the biggest achievement seems to be that they got an agreement to end financing for international coal projects. that

overnight we had the boj holding steady on policy, but lowering growth and inflation forecast.t japan's september industrial output really underperforming estimates. a contraction of 5% month on month. similar story in south korea. industrial output fell 1.8% year on year, missing expectations. the kospi is gaining 0.5% after two sessions of losses already. the korean won gaining ground against the u.s. dollar. a bit of a difficult week for the won. it will be difficult to rise as stagflation fears are there. we did see bond yields surging. we continue to watch the gyrations in the bond market. >> that is in particular when it comes to australian bonds. we are seeing a bit of a surge when it comes to aussie bonds. today perhaps will be the day we see an unscheduled event. the curve has steepened. the 10 year yield is following overnight treasuries moved higher. laggards including the likes of financials despite a robust to be on the back of deal making and expectations of another capital raise. we are seeing leaders in health care across the border markets trading lower. kiwi s

european bond space that you like right now because of this differential between bank earnings and the ecb/boject? >> i think the european bond market is a really difficult one to get too excited about yields where they are and the expectation that we will again see pushback. i had to do a double take briefly because we are in october heading into november 2020 one, and when i heard 20-basis-point rate hike for december, i had to quickly check my screen because you are right, december 2022 and not december 2021 hike we are talking about, so it is difficult to get excited about. i think the areas where you have rate or opportunity for moves on markets is obviously in emerging markets that we are seeing but also in the u.k. and in the u.s. . tom: would that put you in high yield credit areas? >> i'm not in high yield. we have very little exposure globally to high yield. the challenge you have within the asian high-yield market is there particularly skewed to chinese developers and chinese property companies, and that leads you into a whole other series of risks, which you cannot just get a feel

the boj anticipated to downgrade its growth outlook later this month. ahead of the china reopen, we also have holdings above 645. it has been trading study over the holiday. we have seen fluctuations for etf's exposed to china. the return of appetite for chinese tech names. shery: we will be watching the markets, but in the meantime, we are also focused on vc's, the short-term debt yield, but it sets up a fresh partisan battle towards the end of the year. -- we are also focused on d.c., the short-term debt battle. >> definitively resolving the majority's excuse that they lack the time to address the debt limit through the reconciliation process. now there will be no question they will have plenty of time. shery: that's crossed to our washington correspondent. this is not necessarily a resolution to the issue. it is just delaying the crisis until december. tell us what happens then. >> that's exactly right. by the way, this has not been passed yet. we are still waiting to hear if this bill will clear and important procedural hurdle in the senate that wil

performing major currency this month which takes you all the way since the governor started at the bojis is the chart we are looking at that trading range, the retracement level. we are back to that key retracement level and we will see if we break that. let's look at some of these movers coming through, big earnings and we will leave you with this, benchmarks for the 10 year yield and as we talked about, the this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while

the boj in japan has left interest rates and asset buying plans unchanged, but cut growth forecast days before japan's new prime minister faces his first national election. in brazil, the central bank has delivered its biggest rate hike in nearly two decades, and pledged unequally large rise into venmo. the 150 basis point increase comes as the annual inflation's top 10%. the uk's annual budget has increased funding for every government department and offered fresh support for working families. the chancellor unveiled 75 billion pounds of spending, including a tax cut for the hospitality sector and a comprehensive reform of alcohol duties. embracing surging inflation, he ended a pay freeze for workers and hiked minimum-wage by more than 6.5%. global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. anna: thanks very much. annabelle droulers in hong kong. coming up, boosting for your earnings guidance. we speak to the ceo. this is bloomberg. in fact, we will also talk about the aut

look at the executive process and say you've got research integrity at any institution, whether it is boj, imf, world bank, whatever. are the executives meddling with those research projects? it is as clear as that. tom: the research -- jonathan: the research should be unvarnished, and i am not sure it is anymore. that is the problem. tom: they have to sell integrity going forward. jonathan: i hope you get that conversation. tom: we are working on it. it is a little delicate. my biggest problem is my team is so fired up for imf world bank, there are so many people working on this, they are not talking to each other. jonathan: how many are on the team, tom? tom: seven people are working on it. jonathan: you get down to business. work it out. tom: they just tell me what to do. jonathan: michael shaoul joins us now, market field asset management ceo. market expert patients clearly moved down on a low-inflation regime. i am talking about finally breaking out of the lowfla tion regime that has plagued much of the last decade. do you think we have? michael: straightforwardly, i think we have. i

investors will be eyeing the boj and ecb after policy calls from canada and brazil. haidi:

ahead of the boj's meeting, the yen softened a touch after again. team is bustling a recent trend and going bullish on slowing growth expectations for china. over goldman, the economics team lowered the growth forecast for china to 5.2% from 5.6%. checking on the open in south korea, we have a speech later this morning from president moon, downside a third, extending a decline for a fourth straight session. we're going to keep an eye out for earnings today, and also watch reaction to the ipo fundraising. we have the one on the back foot, trading around around against the greenback. we're seeing stocks in australia gain ground, higher by oil and energy prices continuing to gain, brent above $85, wti above $84 a barrel. we do have bonds gaining ground in australia. you got aussie 10 year yields back below 1.79, this is markets consider the pricing for rba pricing. haidi? haidi: sophie kamaruddin in hong kong. analyst investments have fallen to a decade low relative to global peers. further downgrades are on the horizon as china's economic growth slows

surprising given we are seeing this move from the federal reserve toward tapering, but of course the bojy're keeping the policy unchanged. the kospi is also gaining ground , a two-week high. domestic big interview later, sri lanka due to post a late -- rate decision. a governor joins us with plans to provide clarity to investors. that is it for daybreak asia. markets coverage continues as we look ahead to the start of trade and hong kong. hong kong is actually close on holiday. this is bloomberg. ♪ ♪ david: this is my kitchen table and also my file to him. over much of the past -- filing system. over much of the past two decades, i have been an investor. then i started interviewing. i watched your interviewing. i have learned how leaders make it to the top. >> i asked him what she wanted, he said to 50, is it

we think it is important that the boj and government cooperate towards achieving the 2% inflation targetwe think that should continue. reporter: thank you so much, ranil salgado, japan ration chief at the imf. look forward to seeing you in person next year. paul: thank you very much. let's get a quick check of how markets are tracking in the asia-pacific. here in australia, higher by 1/10 of 1% after what has been a sluggish start. the nikkei also higher by a similar amount. we are seeing the cost be a tad weaker in new zealand in positive territory, but all in all, a plenty -- pretty flat and mcstay across the asia-pacific. still to come, toymaker mattel's. our interview with the chairman and ceo is next. this is bloomberg. ♪ >> the choice of doing nothing is not an option. >> we see accelerated increase month after month of a surge in demand for good driven by e-commerce, but also this chips away from services toward goods. >> it is definitely a market in flux. unlike the recession or the bankruptcies or the tsunami that caused inventory shortages, it's different because it is a supply

in the recent months the yen and the euro, talk about people printing money, the ecb and boj have goneutely vertical. so those currencies are falling faster. and you can see it most aacutely in the price of oil and the price of bitcoin. those assets that are stored as value are surging. maria: and you've been so right on bitcoin, for sure. let me get your take on big tech as well as bitcoin, actually. we've got some big names coming out tonight at the close, amazon and apple reporting their quarterly numbers. how are you feeling about the valuation here versus the profit growth potential? >> again, perfect question. so, look, these are great companies in great industries. the challenge is valuation across all of technology. you've got companies now in the trillion dollar club that are trading at 30, 40, 50, 60, 70 times revenues. forget earnings. so some of these companies out there are really, really over-valued. i won't point any fingers at certain car companies but i look at apple. apple's a great company. but they only have 19% market share he globally. android is far bigger around