watch dollar-yen.dea that even though the fed is now tightening, the boj continues firmly on its stimulus path. that still is going to create a cloudy outlook for the dollar-yen, for where the japanese yen heads. although you just heard from vince reinhardt, saying depreciating yen, always going to be good for the japanese economy. yvonne: always a good thing for the boj. with this allen sheet unwind, what does it mean for yields? will it be the boj to control? we look ahead to that decision. also, sallie krawcheck joins us. ♪ ♪ yvonne: 7:30 a.m. thursday in hong kong. i came back from europe, came back to summer. 30 minutes away from asia's first major market open. betty: looks gorgeous there. 7:30 p.m. wednesday in new york, holding onto the remnants of our summer. markets closed slightly higher. a mixed session. we saw the markets selloff after the fed announcement. i am betty lou in new york. yvonne: i am yvonne man in hong kong. you're watching "daybreak asia." let's get the first word news. >> th

dollar just basically giving up the ghost and it crashing. at some point as the world abandons the dollar and is over toward as we're seeing now in russia and china. hold back in asian currencies backed by gold i mean that's that's the best that's that's going to drive. the dollar into the ground right well that's what's taking place right now no one's going to know the exact date whether it's going to be a catastrophic off the cliff drop i think for the next two years i was a precious metals investor you're still going to see those grinding higher as you mentioned before are they going to be interim pullbacks absolutely will thirteen hundred to test it most likely but that would not break this third leg so you're right as far as the dollar is going to be devalued in the long haul how quickly that comes and if it's a dramatic collapse i don't know there's going to be a war to obviously to try to prevent that but we know where the trends are going so let's talk about the business for a while the p.m.c. of precious metal composite out there is

dollar collapse the u.s. stance oblio as gold but many argue that has been loaned out as part of the attempt to keep the dollar high and gold cheap you know this guy minucci it works for trump in the treasury assistant secretary in the treasury secretary wanted to take in charge he recently went there for an auction held up a gold bar but unfortunately that gold bars been loaned out minucci doesn't tell us this because he's a fraud but there you go well while we were engaged in all sorts of circus bread and circus and the aftermath of all these hurricanes and fires and golfing america not only in the white house but actually in the physical space you know that the heads of state of russia and china were meeting and discussing these sort of things and clear and things like north korea and said of just spouting out of like we're a ball now i'm like we're going to wipe them off the map and kim jong un responded we're going to wipe you off the map and stupid things like that's like a twitter war but here again go

see million dollars ario billion for lindsey france you're launching boon for broadcasting to you over around the world from here in washington d.c. coming up on the show tax credit reporting company equifax facing lawsuits over its failure to protect customer information and if a company like equifax can't protect its data what other industries are at risk waging economic warfare china sides with the u.s. on sanctions for north korea after its latest nuclear test but the u.s. is already threatening beijing on the repercussions for failing to comply plus styne rocketing ceiling of the national debt hits a new milestone twenty trillion dollars for she tells us how everyday americans are affected by spending spinning out of control standby we have all that and more and boom bust starts right now. the compromised credit reporting company at with facts is facing dozens of federal lawsuits since exposing one of the largest banks in history last week equifax revealed may have stolen the personal information for one hundred forty three million americans since then the lawsuits have been pilin

the direction in which we might see the dollar go where the dollar move.entiment much higher, we can see back in 2014 the dollar was moving upwards. now, that suggests our bearish on the greenback -- it suggests investors are bearish on the greenback. vonnie: we were literally speaking about the dollar index being down 1.6%, biggest drop in the quarter. time.really narrow this i have to say by a smidge, abigail doolittle wins. i think it is a fascinating index to watch. emma, there's always next time. special coverage of the apple event tomorrow at 1:00 p.m. eastern, 6:00 p.m. london time. more markets, next. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. -- i am vonnie quinn. "bloomberg markets." from new york, europe is all stories on the bloom

dollars in interest alone and the rest of that is collection cost in fees. in eighteen years sky stet has tripled the accumulation continues to grow havea by one thousand dollars a month. erica has been has to cover the household costs one is owed no. bank will open a current account for his wife. for all her purchases sky has to use her husband's debit card. even worse due to her debt no employer wants to risk taking her own. now ten years of job applications then got a couple called out but i have been treated like a criminal yes i. pulled a credit report they look at what's on that piece of paper and then they decide we were based off of that sheet of paper. faced with this debt and sky has decided to fight this morning she is going to a solicitor to file a complaint against her old school who forced her to borrow. and this is not her first attempt plan these. are the cases that a one word against the third party collection agency representing sallie mae. sky has sued them for harrison and they were calling me at my work they were calling me at my home th

statements and share price before being exposed overnight after the announcement about three billion dollars disappeared from equifax market value and shares dropped as much as seventeen percent in one day and this week it continues to fall more lawsuits are criticizing equifax is offered to provide a year of free credit monitoring to customers complaints claim the offer is an introduction to pitch costlier services down the road and on monday key lawmakers demanded a detailed account of the company's security systems concerned customers sensitive information was not properly protected. in the age of the internet of things no connected device is completely safe from hackers and perhaps nowhere is that a more alarming idea that in the medical field from pacemakers to i.v. drips white hat hackers have pointed out the growing vulnerabilities in medical devices and when a patient's life depends on one it's more important than ever to keep its control from getting into the wrong hands president and c.e.o. of virus software shipley joins me to talk about this growing threat to the f.d.a. recently

-- few billion dollars. it was five days of rain rather than the category for hurricane winds. hoping you develop a private flood insurance market, it becomes a more normal category, and you don't have this type of issue where is it wind or rain and companies trying to push the burden onto the flood insurance program. senator trent lott from mississippi actually sued his insurer after katrina over the wind/rain thing. that was an interesting point he brought out. as far as exxon and other companies not paying taxes, we want to make sure everybody is paying their fair share. loopholes going after in the federal code and want to see conference of tax reform make sure everybody is paying re andfair sha eliminate the brakes that companies can exploit to reduce their tax burden where you and i don't have the ability of doing. the about auditing pentagon, we are cognizant of waste and the pentagon. we are talking about an agency that gets $600 billion a year, cannot pass an audit. they have spent billions of dolla

are you know worth the dollars. to get through college one of the lenses there neither of them feels as though it's prostitution even in disguise. i feel like things like you're getting pizza have stags but a lot of times it's not just by. it is only a double lane. six is indeed part of the contract not an obvious clue as to assume. the time travel. since there. have all these. things to me. but now so you're bloody undermined her in several places. your mind is not. riding. that. her best friend trish is one of the only people she's told it does not make. comments coming. down. great great team member now finances. track. full house studies paid a high price but this obsession with success is not just a matter of money. we can not stop the technological revolution in any area whether it is stem cells you know the ability to grow certain or guns on the skin of his human being for computer technology in a general way or any other technology because it's driven by human curiosity. if you. trace the know we're in with

so further depreciation in the yuan versus dollar. the main thing is the dollar strength.t as the fed came out yesterday. we think they will hike in december. that strengthens the dollar and makes the yuan weaker. as far as the yuan fixing, we are seeing a neutral fixing. we have not seen by us to weaken the yuan deliberately, which we have seen in the past. so far, it is still a dollars story to us. isdi: we know that stability the name of the game going into the 19th party congress. analysts are saying after the consolidation of power that the president is going to put into full effect this not thening, which has implemented. a lot of rhetoric, but not implementation. you are saying debt will be the cornerstone of what drives economic growth in china. wills, there is talk he start deleveraging, slow down the economy, and implement reforms. the last 4.5 years come up have not seen any of that. it is hard to turn 180 degrees and reduce the level of debt going forward. we think he would prefer it the economy to be doing well, and that means that level will go up. view, weow

want to take your first few hundred dollars. aside openly matches of generous donors with indebted students and so the controversy breaks out. you are a prostitute and you are a mit educated. on campus the pressure to succeed is so high that american students overindulge binge drinking to let their hair down. but also taking amphetamine derivatives to boost their academic results there's a real trafficking of substances going on. the fraternities are symbol of prestige in american universities they attract students who want to be part of the elite. to join these influential and secret societies some are willing to be put through all sorts of humiliation we would get points for vomiting on each other. diving into the heart of american campuses where the obsession to success justifies all manner of extremes. lexington is the second largest city in the state of kentucky. over the last three years tom giambi has become one of the local tennis teams mainstays and thanks to this he lives in this residence with a swimming pool free of

tax dollars to produce the f. thirty five fighter jets for our foreign allies like great britain and turkey and then you also have the fact of nato is now being asked to increase their military budget or their budgets to join nato is that going to protect our military well what you're telling me. something that i've known we are the biggest arms dealer in the world and we actually are yes you know we pump out all the arms that eventually can shoot our own guys. can be used against us if something happens and it is the role switched around can be used against us i find that very interesting then when our government comes at us and tells me that i should give up my gods i should give up my second amendment guns it's the right thing to do well i've already gone on the record and said i'll consider giving up my guns on the second amendment when i see the united states of america stop being the biggest arms dealer in the world when we quit selling weapons throughout the world then i'll give due consideration to giving

to comply plus styne rocketing ceiling of the national debt hits a new milestone twenty trillion dollars. tells us how everyday americans are affected by spending spending out of control standby we have all that and more and boom bust starts right now. the compromised credit reporting company at with facts is facing dozens of federal lawsuits since exposing one of the largest banks in history last week equifax revealed the may have stolen the personal information for one hundred forty three million americans since then the lawsuits have been piling on more than thirty and counting as of monday in a securities fraud lawsuit equifax is accused of misleading shareholders about its ability to protect consumer data the. agency knew about that more than a month before the truth came out and this lawsuit claims the company inflated financial statements and share price before being exposed overnight after the announcement about three billion dollars disappeared from equifax market value and shares dropped as much as seventeen percent in one day and this week it continues to fall more lawsuits ar

dollar, the the bloomberg dollar index at the highest in a month. janet yellen talking about increasing rates. trump tax plans very much at the heart of things. we will hear more about his 20% plans for corporation tax later. could we see the dollar going higher in the month of september, that is a questioned daily prophet is asking. could we see some strength coming back to the greenback and we have a 70% chance of a rate hike price for december. manus: msci asia-pacific is down. you have a thousand companies in japan that have gone ex dividend. a little bit of a drag on msci. technology has had a rebound with the steeper selloff since november. that is one to watch. tencent and taiwan semiconductor manufacturing the biggest boost in those gauges. toa: we have a lot of data learn about from the u.s. and the eurozone's, plenty on the things are looking flat for the u.s. trading day. the first word news delivered to us by juliette saly. u.s. president donald trump and republican leaders will announce their long-awaited tax overhaul plan today. accord

oh bob a silly half billion dollars big of his i'll play what. maintenance man obama got on well i learned how to really build the american people to take a course at trump university. sure sure sure and went out of business for defrauding its students but doesn't that kind of count as a lesson in business because. it was always like mr miyagi telling daniel son you know wax the fence right he was on oh actually he was learning he did notice learning while the students were being defrauded they should have been learning how trump was. i'm over. what it was but that was the beginning the trump g.o.p. plan would also drastically cut corporate taxes. there's just talk images from. corporate taxes and the taxes of wealthy business owners such as wait for it donald trump on top of the ad he wants to get rid of because they say. the is state tax which means up on his death his family of children of the corn we are those who. would keep a billion dollars all told this is the largest one time proposed robbery of america ever from a sitting president don'

for a gallon of gas eight dollars fifty cents for a bottle of water and ninety nine dollars for a case of water which brings us to best buy forty two dollars was charged for a case of water during a hurricane well it hit social media and corporate and then chimed in it tweeted. first this was clearly a mistake in a single store we feel terrible about this as a company we are focused on helping not hurting people affected by this terrible event we are all deeply sorry that we gave anyone even the momentary impression we were trying to take advantage of the situation now a dozen federal and state agencies are banding together to investigate and prosecute these wrongdoers. gold saw a nearly four percent surge in august it settled above the key thirteen hundred dollars an ounce level in each of the past three sessions closing at around thirteen thirty and forty cents today we got our closely watched jobs report also today it was lower than expected along with some lackluster wage growth august was the eighty third consecutive months of job growth in the united states so the debate continue

and one dollar added to that up a quarter of your income a little over three hundred thousand one dollar to be exact a quarter of your income two hundred twenty five thousand and one dollar a quarter re income that is four categories let's look at what we faced. in two thousand and seventeen coming out of an obama white house the brackets jumped to six six seven from four to ten it starts at ten percent if you make nothing up to nine thousand three hundred twenty five filing as a single person eighteen six fifty married thirteen three fifty head of household and then fifteen fifteen percent we go all the way up to nearly forty thousand dollars nearly seventy six thousand and fifty thousand eight hundred for head of household many were numbers to go here he jumps up to a quarter of your salary if you make up to ninety one thousand dollars a little bit over that one hundred fifty three and one hundred for mary one hundred thirty one and two hundred for head of household we've got four more brackets to go over a quarter of your salary if you make more than one hundred ninety one thousand do

or sixteen dollars up to about fifty dollars now you're starting a campaign crash j.p. morgan by big coin because of chorus and the past few days jamie diamond has called big queen a fraud and we're here at a crypto conference and. ninety nine percent of people i asked says say that he's a jerk but yeah i mean the prez j.p. morgan buys over you know a life masters who was at j.p. morgan at the time she left to join a crypto company in london and they had this huge short position we got the price up to fifty dollars and then of course they could just call the fed and get a loan of unlimited amounts of money they put on their naked short selling futures contracts into the market they're just fredo putting sales order into the market prices are hard to come to hard to mount a rally if for every dollar that's put in on the upside you get fifty dollars of sellers coming in from j.p. morgan's desk so crypto is something that jamie diamond or lloyd blankfein or any other central banker big deal or banker really cannot stop we are seeing now state actors emerge in the case of c

foreign if you don't own dollars if your debt is denominated in dollars if you buy commodities that are priced in dollars but your income is in other currencies that is a good thing and i think the weakening dollar will end up being a very positive event for a lot of people around the world particularly in the emerging markets that have a lot of u.s. dollar denominated debt and especially some of the countries that not only have dollar debt but that export commodities so they will benefit but it is a negative for america because a weak dollar means that americans have less purchasing power so it means our standard of living goes down because things are more expensive for us to buy and ultimately it's going to push up interest rates as the world has to price in dollar weakness into interest rates and so far the fed has been able to keep rates artificially low but a strong dollar made that much easier for the fed once it's fighting a weakening dollar the task is going to become increasingly difficult right so let's talk about those rates traders in the u.s. they're more interested man

pull dollar yen. -- the markets bought dollar yen.s translates into dollar yen at the bottom of your screen. how the u.s. equity futures look. happy labor day if you're having a late martini or barbecue and a glass of beer. you will need it because this is your futures. .asdaq is up 20% this year trump is threatening economic sanctions and halting trade with any nation doing this is with north korea. u.s.-south korea free-trade agreement is on my mind. , catsarkets are closed bonds are closed, cash equities are closed, therefore you'll see vicarious trades going through on the features. dollar yen is accelerating in terms of buying yen, selling the dollar south korea says north korea is preparing for an icbm launch. this is a news headlines coming in. let's have a look at the risk arer as these new headlines what the market begins to deal with as we waken up. -- asia-pacific, you are seeing rises saying we are putting more money into cash. they are putting 30% of their money into cash. , and you aren seeing the one go lower and the do

stock image unveiled this is the tax plan which is really a multi-billion dollar pay check to himself donny how you learned from past presidents you wait until after the presidency to use the office to enrich yourself that you wait till i look look at obama right obama is running wall street just collecting stacks of on more to bills is working for me who i go thank you for eight years of doing wall street a happy ending at a massage parlor all right they have got to clean the stink out of the oval office with a power vacuum as as choir stated by the end of september obama will have spoken to northern trust corporate four hundred thousand dollars carlyle group probably for the same amount cantor fitzgerald for four hundred thousand dollars this could easily be called the crooked hillary circuit. well you can't say you didn't warn us this material works well. i'm going to use it at goldman sachs next year thank the way the. early sirius tell us how tough. it was so but it could use it but it would do our duty louie a horrible human being as if they're and yeah i love that i love the id

us dollars thirty two billion now i understand that the n.d.p. wants to also get into the private sector right now it's working with the core brics countries so how does a plan to move into that realm but you know the private private sector lending required has to require skills to be able to provide the assistance that we need to because the risk could be different and we had in the pressures were building those skills particularly in cases in credit risk and thereafter and the three products that the private sector did want. to be ready for these by the end of the year. now there's been talk at breaks for expanding beyond the five core countries and what they're calling a brics plus type of forum regardless of whether that happens with the summit in this group of countries do you have plans to expand beyond the five core countries that you know. allow for an expansion any member of the un could be a member in due course however this whole process is subject to you know the directions of the board of governors of n.d.p. . the first step has been

get twenty million dollars or thirty million dollars and they're treating the act of raising the money as the end not just the means to an end so i'm a bit critical of when these things occur and i would like for purchasers of i suppose to be a bit more careful and exercise better to do what you would there's a way to determine whether or not the token on offer is would fall under the s.c.c.s. guidelines meaning it's a security or not and you spoke about this earlier photos of suspect explanation can you review that again yes so basically the litmus test is if you can remove the entity raising the money and the ecosystem is still going to run for example if the assyrian foundation was going to go away and fatah like was to disappear if a syrian was to still operate then you probably don't have a security necessarily but if you remove the scented tea in the ecosystem falls apart then you have a quite a bit of centralization around it and it may be a security but these things are based on facts and circumstances and also the underlying utility and usefulness of the token and why people a

well norway's sovereign fund has officially reached a one trillion dollar mark the fund which is run by the country sometimes bank takes the state's oil revenues and invests in financial assets abroad it is an unprecedented success and according to some an example other oil rich jurisdictions can learn from our days alex and i love it he joins us in toronto with more right now alex tell us how the norwegian fund is reaches milestone so it's a surprise even to the norwegians the western europe's debt star one people say the biggest and it is the biggest oil producer in western europe although many people say what i wanted to say was one of the happiest countries on earth always rated close to number one if number not number one they're doing really well when it comes to the sovereign fund it beat all expectations nor just bank which is the norwegian central bank and didn't even expect it to happen but there was a couple of factors that come into play that's the weak u.s. dollar so obviously all the currencies that are invested there in norway in that region currency have gone up which

he was dollar plunged the hong kong dollar gain. isn't that natural?ciating for most of this year even though the greenback has been weakening for a while now. last friday and thursday, with the greenback in an extended slide, finally they decided they had enough. the move was amplified because the short hong kong dollar trade has been crowded before that. when everyone started unwinding that short, what we saw was the steepest regan for the hong kong rebound for the hong kong dollar since january. david: are they expecting for this to pay off? what is the logic here? isit is a simple logic which it has been higher than the hong kong interest rate for a long time and the gap has only been widening. the u.s. is still raising interest rates, whereas ample liquidity in hong kong has kept rates low. when you have a widening interest gap, people will convert the hong kong dollar into other currencies, which has been pushing down the local exchange rate here. analysts say that hasn't changed, so it might still pay to be short the hong kong dollar. david: at

dollar. pessimism, it is amazing how we have on from extreme optimism at the start of the year and now everyone sees the u.s. dollar going down. i'm not saying we are right in the market is wrong, that when sentiment make such a u-turn and underneath things are not as bad, i think we are adding to our u.s. dollar exposure at the ,xpense of emerging markets fx which is a hedge against a potential market selloff. of the day,e end you do have the federal reserve staying fat on the rate -- rate increase, but everyone is still point about the global economy. why do you the markets have not seeing aswhat you are a meltdown of global equity markets and moving away from this asia story, this long bull run we have been seeing? >> fundamentally, i agree. things are starting to look better, but global growth is synchronized for the first time since 2007, but the equities markets is not always correlate with stronger growth. when we talk about a correction, i'm not talking about an end to the bull market

almost twelve million dollars of scholarship money is shared out every year. but the schedules of the school students are not restful in the slightest. most students are still sleeping with thomas back at the changing. of. the world. with a new university term new supplies await him in his. resolve. those who think much of your. gifts bearing the acronym of a big sports equipment brand the university's official sponsor. the more than. just the form your. career on this it is. tom and his eleven team members trained on average for four hours a day. by fellow frenchman sidney. this former professional player has led the kentucky tennis team for the last two years . to strengthen their teams american universities recruit internationally the contract is simple they have to wait. just. a little bit. and the university of kentucky certainly provides the means. there are almost two hundred people to ensure the welfare of the athletes footballers basketball players tennis players after training that only to the state of the art care facility. with a mandatory dip in t

of dollars and they were like maybe it could be done. they would three of us out here to discuss is our senior criminal justice expert they only care about me. here only tell us about the. other losers losers you mean. families steal as the highest prison population per capita there's no success in the philadelphia menchu area now it's not true that no yeah twenty four playoffs and no rink. what do you call that when you watch football no. i don't understand it but i do understand no ring. you go do the killing you know meet it just accept defeat in name your husband name like mr collins mo. it still sounds like a cat well if you have a middle eastern father it works. so there is some progress for failing on the local level i guess it seems the city about thirty four thousand dollars a year per prisoner released but can feeling really be trusted with all that extra money when they build statues for losers like the former mayor frank rizzo who is tough on crime policies in the city went to the jailing of over thirty thousand men of color

yields that's a weaker dollars. if foreigners are buying treasuries, they are also buying equities >> the nikkei closed lower by 0.6% hong kong up a half percent. that was the bright spot in the region shanghai comp was flat for the session. as for the early action in europe, let's show you what's happening there. we're seeing some softness german dax was selling off i thought it was interesting to see the stocks withstand the euro strength yesterday in the session. that's been a weak point because of the exporters >> particularly the dax which has a lot of exporters within it, up about a percent the loser of the week is the ftse 100 the dax has had a good week. oil has had a good week. up nearly 3% -- 4% for the week coming into today. but losing 0.6%. so it takes the gains for the week closer to 3% for wti crude. 48.8 gold prices to round things off, also had a decent week up 1.5% before today's trade so a 2% gain week to date. 1356 for gold. >>> florida bracing for hurricane irma let's get the latest on where the

dollars, so a week dollar is good for these guys. second half of this we do expect the chinese economy to moderate. it has been on a good run. first quarter, second quarter above expectations, but if it slows down, you will see demand for race metals move in line with that. where the dollar is concerned, if the ecb takes action in october -- david: do you think they will? >> they need to because the strength of the euro will hurt exporters. david: if not already. >> absolutely. is saying inflation expectations are likely to be more moderate because of the strength. we could see some announcement that could reverse the euro-dollar. david: you recommend underway taiwan just in case tensions between the u.s. and china when it comes to trade. why taiwan? why not hong kong? >> taiwan is the global supply chain. if something happens on the north korean peninsula, taiwan and korea will be hurt badly. it is bound for some profit taking at some point. david: help me understand this. white is the japanese yen seen as a safe haven? do we now ha

or ten dollars forty four billion dollars worth of those gift cards have never been cashed in and you say we're going to come back today and i will we are my interviewing somebody the second half is it that guy from the jersey now so anyway. this will cover the consequences of it the consequences are politically he's actually benefited because the poor actually think maybe it's fake who's that they're getting but the poor in india actually think that this is work and targeted that they themselves suffered and they themselves had a bad situation and many people died but they think that the rich suffered under this but they didn't win them all the farmers who kill themselves because of months on a really happy too so let's go over what from another headline from bloomberg what was expected and what failed to happen based on the theories from the white tower called the economists where the economist live they say this is the high tower where they think they know better than the rest of us moody's biggest move is a total bust eliminating eighty six percent of the country's currency has ha