bloomberg mliv strategist mark cranfield. here is what else we are thinking about this week when it comes to the stoxx story of the moment. still it is nvidia. their stock split coming through today. you will get pricing on that. 10 for 1 is the split as the company says they want to make shares more accessible to employees and investors after that eye-watering run-up in terms of nvidia's value. the stock price currently at $1200 per share, that 10 for one split coming later today. wednesday, we get the fed decision. the inflation data comes in a few hours before that decision. and we get the commentary, not expected to change in terms of rates, but it is the guidance and as mark cranfield was saying, the adjustments, if they come, for the forecast and it terms of number of cuts expected from the members of the fomc. on friday, and the next central bank to be in focus will be the boj, the rate not expected to change, maybe adjustments in terms of bond buying and the economy weakening, but not as much as initial data prince ha

we will get more analysis on the currency and bring in mark cranfield. what are traders latching onto as they continue to bet against the japanese currency? mark: it is a theme you and i have discussed several times the past few weeks. this disconnect between where the bank of japan stands and where the japanese ministry of finance stands. the ministry has response to billy for acting in the foreign exchange market when they see the right time to do so. we have seen them do it aggressively this year, without marked success, and traders can see that intervention on its own without changes to monetary policy on the other side, is not a very effective tool when you are facing united states interest rates which are so high and don't look as though they will be coming down near term. that's the gap that the traders are going between to exploit the difference in what we're hearing from the japanese authorities. and the ineffectiveness of the intervention they did and the fact that interest rates remain extremely low in japan. it was not a ordinate and policy.

that was mark cranfield.loomberg understands g7 leaders in italy will provide ukraine with $50 billion using profits of frozen russian assets. technical details will be hashed out. let's bring in all of her crook. there are loads of items on the agenda but let's start with this reporting about what they decided to do and what it would unlock for ukraine. oliver: this has been the debate, how to tap the value without seizing the underlying assets. while frontloading the cash to ukraine. we been talking about $50 billion and the agreement will be done in the form of a loan, mostly by the u.s. and others. that gets pushed to ukraine and repaid with profits from frozen assets that are in europe. the devil is in the details. they are according to sources not intending to have a full sort of mechanics worked out at this meeting, but they are hoping to disperse it. it is desperately needed by ukraine. another topic is how do you cinch the money in the russian war machine and as we think about the bipolar world with

paul: mliv strategists mark cranfield.l to come, rbl banks as they are expecting india's investment led story to continue. jeff explains why, next. this is bloomberg. ♪ paul: welcome back to bloomberg markets: asia. you are watching the india focus just under six minutes away from the open of trade in india, here's a look at the premarket session. we are seeing upside on the positive day. markets in the asia-pacific inspired by a lot of what we've seen in nvidia and the ai story pushing equities higher pretty much eric -- everywhere with a couple of exceptions. looks like we are headed for equity with a trading in five minutes 30 seconds. the sick you look at the rise of india's bond market. many investors now see it as an investment to russia and china. this is the subject of the big take today with the inclusion of indian sovereign debt into jp morgan's emerging-market bond index, leading to a $40 billion rush into the markets. let's get more with her senior effects and rates reporter in move by. what sort of impact do w

we are joined by bloomberg mliv strategist mark cranfield. where to start in terms of weakness? the yen, the yuan? i guess that is our question of the day today. which is more important in terms of weakness? >> it is hard to choose in many ways. they are both extremely significant, especially in this part of the world. everybody in asia is watching to see where those currencies go, more than any other, but on the fed side, it is about this prolonged and in some ways unexpected u.s. dollar strength. at the beginning of the year court -- at the beginning of the year, quite a few people were looking to be federal reserve to begin lowering interest rates. people were fully expecting the fed to have lowered rates at least once, and that was expected to we can the u.s. dollar and many other emerging market currencies as well. of course, that has not happened, and even the fed has recognized the fact that inflation has been stronger than expected, and that changed their outlook, maybe two one interest rate cut later this year, and that is giving the

mark cranfield, thank you. shares of mitsubishi heavy industries have doubled this year.ompany's told bloomberg they finished designing a nexgen nuclear reactor, paving the way for construction to begin as japan shifts the energy focus to develop more atomic power. he sat down with the shery ahn in tokyo to discuss the outlook and role in japan's spatial ambitious -- ambitions. >> the annual worldwide power outlook was recently estimated to be 40 gigawatts. now that figure is expected to increase to about 50 gigawatts as the need for data centers gross and ai expands. we are developing a business structure to the respond to the increase. shery: we see a veering away from fossil fuels. do you expect that to impact your gas turbine business? >> gas turbines will grow going forward and they will be combined with carbon capture, hydrogen combustion, and so on. nuclear power is a valuable power source in the context of carbon neutrality so i think it will be necessary to a certain extent as well shery:. you are japan's largest defense contractor and developing a stealth fighte

mark cranfield on how the markets are positioned ahead of the snb and boe. thank you.'s what else to be thinking about, as well as the snb and boe. we had nor just make as well, their decision come that -- we did have norges bank as well, their decision coming at 9:00 a.m. u.k. time. given the ability for that economy to be relatively resilient in the face of rates, at what? 4.5%. the economy showing that resilience. to what extent do they guide the first cut and push that back in terms of market expectations? that will be in focus with the nor just bank decision. before we get to norges bank, we will get details in terms of the health of the car market, the eu 27 member nations new car registration 7:00 a.m. u.k. time. to what extent is the auto market of europe holding up? as, of course, there are signs that may be the eurozone and its economy are starting to show a little bit more optimism. would is the ev component within that as well? that will be interesting given that growth has been slow in that part of the market. we will get the initial jobless claims out of

to talk about this and more, let's bring in bloomberg's mark cranfield.et's start with the market pricing for what the fed are going to do the rest of this year. we were just listening to susan collins saying she will not be averse to the idea two rate cuts. the median. that came out of the fed this week was one. interesting to see that there is conversations going on within the fed. but what would two rate cuts actually mean for risky assets if they go along with that? mark: traders are bound to extrapolate. if the fed is saying two, they will go for three at least. we saw it at the beginning of the year when the federal reserve are forecasting three interest-rate cuts this year. we saw the market pricing and way more than that. it was good for the equity market, bond market at the start of the year. we saw a lot of diving back as people realized the numbers were not supportive of more rate cuts. now we are starting to go back the other way. the data that we have seen this week and recently is a bit softer. the inflation numbers are a little bit coming d

tom: mark cranfield on the resilience of this equity market. maybe more to be priced in. thank you very much indeed. 7:00 a.m. u.k. time, we get the wage data, earnings data and bonuses. the numbers expected to come in about the previous reading. that could pose a challenge for the bank of england. that's at 7 a.m. u.k. time. then the fomc meeting beginning. we get that announcement in the decision on wednesday. later, that opec report. brent sits around the $80 mark, still have 5% year-to-date. we will see if that report outlines a picture of improving demand for oil. you can get a roundup of stories you need to know to get your date -- get your day going. coming up, the united nations adopts a u.s. crafted truce deal as secretary of state antony blinken arrives in israel. more on the ongoing cease-fire talks next. plus new quantum's founder and ceo says the u.k. is emerging as a world leader in quantum computing. we speak exclusively to the ceo about what is needed to stay ahead in that field. that is next. this is bloomberg. ♪ tom: bird daybreak europe -- welcome back

. >> for more let's bring in mark cranfield in singapore. there was no significant tickets time. that is upon context as well. he says that i can take its time. what does that mean in your view for the greenback? >> it must've been like deja vu for foreign exchange traders and bond traders as well. we particular had that soft dish cpi data that was taken very devilishly by the market. we are getting the fed speak is pushing back on the idea that the market has interpreted it in the great way. we can expect pretty much more of the same but generally for the fed you guys to be saying they need more time and of course that will be reasonably positive for the u.s. dollar and of course it comes after the bank of japan largely disappointed the market by not really coming up with anything that supports the japanese yen. the strength we've happen -- the strength we've had for the u.s. dollar does go away. they are helping to fuel more of that. you have two of the most important currencies. the japanese went -- japanese yen, the chinese yuan. they are not protecting the one as well. so ev

let's get more with mark cranfield in singapore. as i mentioned, if you pick into those inflation numbers, the picture does become a little bit murky, but we did have headline inflation picking up after a couple of months of deceleration. how does this change the picture for the boj? >> maybe it doesn't because investors are still disappointed by what they heard. it was just a week ago that we had the bank of japan meeting and expectations going into it were very high. we could see some complete measures in terms of policy tightening to add to what they did in march, we got nothing. people have been pretty skeptical of what it is that is needed to push the bank of japan into any tightening measures, so we went into that meeting will be expecting that we would get guidance on when the next interest rate hike was going to come, particularly as the bank of japan probably had that cpi data and knew that inflation was starting to go towards their target, and yet, they still did not give any clues at all on that. also, we heard nothing on