sarah berry sarah garfield. berry yeah, you might guess that. garfield means something there. and she's a garfield next is james earl carter. where are you? there you are. he's the only member here, i think, who's lived in the white house. and so he may have a few things to say about that. george cleveland here on my right, as you might guess, is a cleveland ulysses grant deeds. now, wonder who he is and richard gatto, who is the whose ancestor is the earliest of the presidents get out of that trouble get. out of that trouble is monroe all the way back to monroe. and monroe actually is featured in our morning talks because of the monroe doctrine and tweed roosevelt. i should have started i suppose with me i'm tweed roosevelt i'm a great grandson of theodore roosevelt. i'm, you know, the what do i call the chairman of the roosevelt school and a professor here at nyu and just delighted about it. iu i won't go about i like you. it's just a fabulous school. it is being turned from an almost dead private, small, private here on long island. and they had the good fortune. i don't wa

you might guess that garfield means something there and she's a garfield next is james earl carter. where are you, james? you are. he's the only member here i think. who's in the white house. and so he may have. a few things to say about that. george here on my right, as you might guess, is a cleveland ulysses grant deeds. now, wonder who he is and richard gadiel, who is the oldest, whose ancestor is the earliest of presidents get of that trouble. get out of that trouble is monroe all the way back to monroe and monroe actually is featured our morning talks of the monroe doctrine and i'm tweed roosevelt should have started i suppose with me i'm tweed i'm a great grandson. theodore roosevelt. i'm you know the what do i call the chairman of the school and a professor at nyu and? just delighted about it. elihu i won't go on about it's just a fabulous school it is being turned from an almost dead private small private here on long island and they had the good fortune. i don't want to sound like i'm sort really groveling here too much, but anyway, we had the good fortune of having kim kli

garfield, of course, had politics. and coming up in 18 the 1860s, during the war, he was something a protege of salmon. he was an ohioan, for one thing. and he moves up through the ranks, into congress, and it's very clear that he is very sympathetic to radical republicanism. he once referred to abraham lincoln as a second rate illinois lawyer. that's gives you some idea of garfield perspective on things. so upton wants to take garfield to the perverse little house to spank him. but garfield does not want to really does not want to admit that a terrible injustice was to fitz john porter. it really has to take agonizing process going through congress efforts to get bills passed in congress, restoring porter, and then a president who's willing to sign it, that that takes a long, long time in the life of fitz john porter. yes, there's a comment. i guess it's not at all coincide. at all that cleveland is the first democrat president after lincoln. yes. and one could draw a of unpleasant conclusions from that poor cleveland

garfield: pretty much. we had a blow off surgeon yields on friday at the end of the month nobody wanted to hold onto treasuries given everything that is going on. there were already strong expectations that the pain point of the u.k. mismatch was going to ease, which it did. but still, who wanted to take the risk that you coming on monday and find out that liz truss is sticking to what they said they wanted to do and you have fresh volatility in guilds that is going to drive fresh volatility in treasuries. so i think it is mostly just a climbdown from markets that got even more excited and they needed to that difficulties ahead. rishaad: where you are, with her the rba -- wither the rba's hawkishness? garfield: i think it will be very difficult for the rba to do otherwise and go 50 basis points today. even though lowe flagged the potential to slow down. since he flagged that potential, the global picture has been very hard. how does he go to 25 after the fed stick with 75 and said it would stick with 75 aga

garfield, market turmoil. liquidity is drying up. who is exposed? garfield: everybody is exposed.irectly and directly. we talk about the idea that what central banks do takes time to work into the economy. this is a classic example. you have the steepest rate hike in a generation, driving secondary market yields when companies look to refinance or borrow, they are suddenly facing significantly higher costs. of course it doesn't come all at once. it is a trillion dollar hit by our calculation because of the increase. the existing crude bond and -- that is the gap that is going to close. dani: didn't you have -- i want to get into the root of the issue. you have companies and governments that faced rolling over existing debt or issuing new bonds. what is the debate look like for that? garfield: it is a tough one because on the one hand, you don't want to rush into it. on the other hand, they have fallen by the wayside. do you rush in or stay away? how does that play out? maybe you decide to trim your spending and rely on cash. that's why you will see particularly vulnerable issuers.

let's get more from garfield reynolds. he joins us from sydney. kicking off the new week with currencies and focus, not just en, but the car -- but the pound as well. garfield: the yen and pound are caught in this conundrum between monetary policy and politics. in the u.k., the problem is relentless timing the be out -- timing they are part of, including gas supply shocks and inflation. in japan, the central bank is sticking with the world's only loose monetary policy. the problem is the yen keeps sliding and that becomes a political and societal problem because the japanese are not used to this sort of level. even if the boj insists there is not a structural inflation, that whatever inflation there is is a transitory, it does have an inflationary impact, especially on ordinary people. anything imported is driven up in price. it becomes difficult for the authorities to say we will keep pursuing this policy for inflation when they are looking at the in, -- the yen, japanese are looking at the yen and there is inflation, you have to stop it. the par

but nevertheless, i think that is the most important thing is james abraham garfield came from nothing my dad pretty much came from nothing at the point of coming out of the depression. and he worked hard and put good kids out in the world. so that's what i look back to, is because it was a very short presidency, is the values that were there. thank you. hi, my name is james earl carter, the fourth i was born at the end of february, 1977, a month inauguration at bethesda naval hospital in my first home was white house until came. yeah. so my experience is a little bit different than some of the other descendants. my presidential ancestors being alive still and my having grown and been around when he president and for the amazing that he has had so i feel like i've been blessed and then i have a kind of behind the scenes view of history like you can almost touch it. yeah. i have see the carter library on june 1st of this year posted a picture on instagram of me meeting tip o'neill. when i was four months old. and you know, the caption is on this day, june 1977, jimmy carter, tip o'neill

our correspondent garfield reynolds is here. the main topic is still whether we will see this central bank misstep, policy error priced in. if you look at swap pricing, for example. what are you looking at this week? garfield: a big part of what i am looking at is whether we get a return into inflation or even after inflation. this might sound a little weird, i almost think the cpi is a sideshow compared to what the fed is going to do. unless you get an extraordinarily big cooldown in inflation. having the jobless rate go back down to 3.5%, strong jobs growth, strong wages growth, there is no reason whatsoever for fed officials to say ok, the job is done on inflation. even if, even when we have some very strong indications there are major dangers for recession, they will be looking at the jobless rate and think 3.5%, why would we start hiking rates? you could argue if you get a slowdown in inflation, they say this shows we should be doing this because jobs are staying resilient and inflation is coming down. given that, i think t

dani: garfield, thank you very much. and it's a not so golden return from the golden week holidays for chinese investors. juliette saly in singapore has been tracking the reopen. juliette: covid restrictions meant many people staying at home, tourism down 26% from last year, down 56 from the golden week in 2019. investors selling into markets and midst concerns globally. csi 300 testing april 2020 lows, and u.s.-sino-american tension s in terms of further curbs for tech companies that is weighing heavily on the tech space. the hang seng tech testing its lowest level since january 2019 with a drop of 4% in the morning. you are seeing stronger offshore you one today -- yuan today, but it has been a bit of a dampener after the golden week holiday. the only bright spot is property stocks, as we look ahead to support for the beleaguered property sector. when it comes the overall picture, we also had weakness in the services picture, it fell below 50 for the first time since may. adding to expectations we will see more targete

garfield: in many ways, this is the question of the year.ecause, there have been lots of illiquid caches in treasuries trading and as the year has gone on that has become more widespread and done more damage. there is a narrative there is no such thing as a risk-free rate anymore. how do you trade everything else ? if you are not sure, for example, that treasury liquidity is adequate to buy realistic pricing when it comes to the gap between inflation and security nominal's, breakevens, showing, laughably, that inflation will drop to 2% within one year's time. then, can you trust all your other calls out there, like the idea that the fed will keep pricing to cut rates? how trustworthy are things like that suppose it risk-free rate when it comes to valuing other securities? how do you cope with the extreme volatility in the treasuries market that seems to be driven not just by the fed? the fed has been constant saying. but, the market is shifting all over the place. it is how it is trying to cope with its own internal difficulties. we also hav

garfield reynolds. chinese president xi jinping has secured a precedent breaking third term at the close of the party congress in beijing. let's bring in our chief north asia correspondent, stephen engle who joins us in hong kong. evan characterized this as maximum xi jinping. are we at maximum xi jinping right now? stephen: he has what one could say is absolute power because he essentially could rule indefinitely now that he has secured that precedent defying third consecutive term with no term limits. he got rid of those five years ago and has essentially stacked his seven-member standing committee, six other individuals with his close allies. if you look at the breakdown, to individuals who are gone were not said to be in his camp, closely tied to hu jintao and the communist youth league. in their replacement are the party bosses from the key economic and plug power houses of china. you have the beijing party boss and that shanghai party boss who will rise to premiership come march at the national pe

haidi: garfield reynolds there. a delayed statement from g20 finance ministers, they are laying bare a variety of issues, including russia's war in ukraine and ways to deal with climate change. let's start off with the geopolitical side. where do we see the divisions and how was that present in the communique? eric: where we saw divisions breaking down our between to a large extent between 19 other g20 members and russia. trying to read between the lines of the communique but also using what we've heard from officials in the past several days. the minister of spain which chairs and imf advisory board, basically all the numbers were on one side you have country on the other many of these issues. one of the key sentences i would like to read from this statement issued by indonesia on sunday in washington says a members strongly condemned russia's war against ukraine and expressed that he wretch is illegal, unjustified and unprovoked war of aggression against ukraine it is impairing the mobile economic recovery. there

dani: garfield, thank you, that's our chief rates correspondent for asia. let's take a look at things we are watching out for today. this afternoon, is that all-important u.s. inflation data. we are expecting the pace of consumer price rises too slow to 8.1%, down from 8.3%. it's also u.s. weekly jobless claims, we will look for cracks in the labor market. manus: in the afternoon, the ecb's nagel, a confluence of data from the states and language from the ecb. we discussed u.s. economic data with oliver kettlewell at mattrick capital -- mashreq capital, how hot of a cpi print is he expecting? >> we've never seen this kind of volatility, up and down, all this year, ups and downs intraday. but all this volatility should be your friend, it should create opportunities for stocks being mispriced if researchers have found their job well. dani: a friend of volatility, john rogers, junior. manus: and he kept the dream of value investing alive. but let's shift to the bond markets, they are live and fri sky, oliver kettlewell is the head of fixed income at mashreq ca

garfield: there's not a lot of reasons. if you want juicy yields at least on a nominal basis, you can buy plenty of those in the treasury market, it turns out, and elsewhere. you have the situation where the boe's maneuverings have managed for now perhaps to bring some greater level of calm to the gilt markets what the ultimate driver of the volatility, the difficult political situation, that remains. that was something that people were telling me last week, that they were reasonably confident that the boe would be able to get matters under control, delivering a consistent message. the major concern was a radical change in government or government policy at almost any time over the coming few months and it's difficult to see what the resolution might be. that is what investors are saying. difficulty in judging what might go on in not just the coming week but then the coming months when it comes to u.k. policy. all of this is happening at a very difficult time economically for britain. none of that says it is time to go back

shery: leanne and garfield with our top stories today.nd also to our next bloomberg scoop, sources telling us the biden administration is considering new export controls that would limit china's access to some of the most powerful emerging computing technologies. our greater china senior executive editor john joins us from beijing with the latest. and john, this is coming at a time when he had the party congress in china on the way. john: this is another sign of the biden administration, of the united states ratcheting up the pressure on china. obviously, we had the earlier defense position. out of washington, which again named china as the united states top strategic competitor. and what we see now is the united states, biden administration, taking as many steps as possible to try to limit china's access to emerging technologies. quantum computing, it is still sort of an experimental field. the implications for the future, how greatly this technology can affect the future weeks important point for the biden administration to focus on now

unless my garfield mug is clean, is the garfield mug clean? no? the skull of jehosephat!" in fast food news, macdonald has announced that once again they are bringing back the mcrib, but this time they claim it could be the last time ever. i never thought that people that need to make rib would out live it. all right, let's turn to the big news of the day: the midterm elections. that all-important day in november where you vote for a senator, or a governor, and then a bunch of positions you're not even sure are real. but this november, there's one governor's race that could change things not just for their state, but for everyone. i'm talking about arizona. it's the state for people who like texas, but wish it had more scorpions and old people. right now, in arizona, republican kari lake is in a neck and-neck race against democrat katie hobbs, and if lake wins, it could change the course of american democracy itself. so let's get to know her better, in our latest installment of "fringewatching." ♪ ♪ [cheers and applause] meet kari lake: arizona gu

west garfield park, for example had a 2019 murder rate of 131 per 100,000. now my book highlights data like these for two reasons. first, i think a thorough understanding of how violence is and has long been concentrated helps us understand exactly who it is that will suffer the most should a particular policy program diminish public safety and biological extension who it is that will gain the most should a particular policy program enhance public safety? which takes us to the second reason i highlight these data the reality of crime concentration can help contextualize some of the disparities in enforcement statistics that we hear so much about, disparities that are often seized upon to make the case for mass decarceration and policing as a means of pursuing racial equity. if, in fact, the most serious crimes occurring in very small slices of our city's and are affecting a particular demographic more than others, then it isn't entirely reasonable for enforcement to be disproportionately deployed to these areas, and by extension to see disparities arise from

shery: garfield reynolds with our top market stories. let's give it a paul allen with the first word headlines. paul: the financial times says japanese authorities spend more than $30 billion last week to prop up again while finance ministry officials did not comment on intervention measures. the ft says to people close to the government from the action. on friday the answers the most against the dollar since march 2020 after earlier hitting a fresh 32 year low. australian treasurer jim challenge -- chalens is predicting an update. it will show an underlying cash deficit of $22 billion u.s. he has promised a sensible budget mindful of the chaos caused by the u.k.'s shock tax changes. china as enshrined the rejection of taiwanese independence into the really communist party's constitution. the document vows to firmly oppose and contain taiwan independence and advance the model beijing as proposed for taipei. the charter previously only called for the advancement of reunification with taiwan. global news 24 hours a day, on air and on quick

and garfield reynolds. let's start with you, kathleen.ssed a potential fed minute, talking about the rate hikes, committing the rate hikes. tell us a little bit about what we can expect especially given that we have those cpi numbers coming out. >> the cpi numbers are supposed to show a little bit of relief from the 8.3% year-over-year we saw the last report. certainly not enough to begin to meet the requirements the fed needs to start actual -- to start to actually not even cutting rates, just pausing, maybe even making them smaller. financial stability is becoming more of an issue. number one in the fed minutes, clearly they all committed to inflation fighting. there's no question there. at the same time we caught something that sounded like some fed doves in the background, talking about a highly uncertain global economic environment. the bank of england is certainly one part of this. it is important to calibrate the pace -- how quickly we are getting there. how much we will keep frontloading. with the aim of me to getting risk. that i

is a lot lower in west garfield park, meeting household incomes, $25,000 versus $117,000.t a credit score issue it's a disparity across all sorts of different lines and the question is, how quickly can you shift the dynamic with the credit score unto itself. >> 12 to 18 months what you're trying to do, you're trying to get -- if you -- i'll make this simple you move the credit score a hundred points from 550 to 650, you stabilize that neighborhood. the crime goes down. the high school graduation goes up look at that number between graduation rates between garfield and lincoln park. it's stunning. the -- and college education goes up. the small business number goes up, the entrepreneurship level goes up. the self-esteem goes up. the people who have a 401(k) grow up. payday loan renters, rent centers, they go away. because people with a higher credit score make different choices. it may not be the same as lincoln park, but it's the best in your community. >> appreciate you joining us this morning thank you. >> honor to be with you. >>> coming up, opec's cut in production spa

>> garfield reynolds is here in sydney. let's get to su keenan with the first word headlines. >> turkey and the u.n. are looking for ways to salvage a to safely export ukrainian grain following moscow's dishes into leave the packed for -- following an attack on the black sea naval fleet. russia said it would suspend the agreement after ships were hit by drones it blamed on ukraine. the extent of the damage is unclear. workers are leaving apple's biggest iphone plant in china after snap covid measures left many of the 200,000 staff facing inadequate living conditions. online posts show local authorities arranging buses to take workers to mandatory isolation. elsewhere, fresh lockdowns have been imposed from wuhan to china's industrial belt on the east coast. beijing is boosting international flights and fast lanes to boost investment. president biden blamed political rhetoric for the attack on house speaker nancy pelosi's husband. he said this includes denial of the 2020 election results. an intruder hit pelosi's husband wit

they were a way -- there was this urge, especially in the case of presidential assassinations like garfield and lincoln, there was just this mass public urge to say farewell. and to see, to see the president one last time, where they really managed to do both. now, the president wasn't -- the new president wasn't really largely involved in it. he was going about the business of government. notably, harry truman was kind of thrown into the government after fdr's death, and he really had a crash course of what was going on with the government while on the funeral train, partially while on the funeral train. so they managed to uphold the traditions and the expectations of the public for the public funerals, but the work of government went on. and lbj did the same thing -- very quickly took over commands of power, even on air force one, while still at love field. so, yeah, there's always been that balance of retaining these secession of power to make sure that that wasn't disturbed while also giving attention to the public mourning. >> thank you. >> thank you. >> yes, ma'am? >> thank you. hello

haidi: that was garfield there. speaking of anxiety under the surface, china's decision to hold back as gdp data due on tuesday is being blamed on the party congress underway in beijing rather than fear that the numbers may underperform. let us bring in stephen who joins us in hong kong. there is a fair degree of suspicion when something -- when it comes to something like this. there's also a reason to not want the distraction right now. >> it would be pretty bad data if you are delaying gdp today and retail sales and energy production, housing prices, housing investment, all of these were due and other data today. we have the word late yesterday, short notice that all of the state it would be delayed indefinitely and no reason was given. it is a logical human nature assumption that given the second-quarter gdp which was barely above zero, may be third-quarter is not a good look at a time when the party elite are holding their congress. it could be a distraction or diversion from what xi jinping would like to talk a

like a chester garfield are some old 1800 sprit president or something? or you think about dizzy gillespie in those? yeah. he would blow that. want to trump. >> that wraps up kron 4 news at 6. you will see tonight at 8. have a nice evening, everybody. ♪ ♪ >> announcer: death of the "american idol" runner-up, moments after this. ♪ ♪ ♪ you always feel my heart ♪ >> announcer: killed and a highway accident after singing a christian him, and hot cart grandpa, he returned his rental car, one problem. his granddaughter was still inside. >> left my daughter in the rental car! >> announcer: than the big turn in the dr. oz race for the u.s. senate, the special technology his opponent is using after recovering from a

so here we are in the garfield district, said this is my street tree fell out. this is the start of the in and out dance festival in for an international dance, christabel in public spaces in this neighborhood, even when a dances momma's at the grandfather, the uncles that both artists are not too long done at the end of our tour. arguable brings as to his favorite restaurant for a taste of bettina foster's signature, addiction, garlic chicken plant out like i said, i met with ha. such a good report. yeah. like the grilled old gallic chicken is made of organic chicken or what we call bicycle or chicken. it run behind on that crockett and it goes on the grill. you simply cannot visit kilo without trying our galaxy chicken, or would you not be specialist, or will you come by and test my good chicken with me when a pity to all who are watching us piano board, you the full vin, a biggest pebble pully, columbia, other one up, it's just like when we got home, my list of places to travel is getting too long. i been a start catching up. let it flow how nigerian design i

that is, he will not be like a cat, for example, here, which now we have garfield lying in a coffee tablecalmly peeping there, he will always be a participant in all the events of cooking, either this is food, or watching tv. by the way, they are very fond of watching various tv programs, in general, when we leave, we turn on the last two versions here, which are not happy to watch the owner notes on a walk the meerkats behave, how the defenders see the dogs the animals get up, a tense stance, if the situation is unfavorable, they can even attack laptops based on famous works a resident of novosibirsk makes unusual souvenirs copies of the room from famous works anastasia shayknet has already recreated in a miniature of the isking hall about harry potter, a scene from the cartoon shrek and much more , the craftswoman gave her first works to relatives and friends. now among for anastasia's customers, soloist of the group hands up sergei zhukov, difficulties arise when we have some photographs of old rooms, and this may be one photograph of some kind in which nothing is visible. and i have t

black women, black veterans, black men to assert themselves and remember the war, and to vote for garfield when the pennsylvania republican party failed to fully incorporate black men like winters, who expected certain things out of the civil war, and how they remembered their trauma, joseph winters did something different. he leaves the republican party and joins the democratic party. and yet, he still writes campaign songs as the one on the left here. this is from brian stephenson, and so he will die in his early 90s as a democrat. this man survived slavery, survives his trauma, and in particular -- to mobilize communities and acknowledge their pain, their trauma, their service. then we have here this photograph that is from 1905, of g. a. r. members. they are the living monuments of the civil war. because it is these men who organized these organizations, but their most important role is that of parenting their own children and the children of their communities. they would use those porches to share to the next generation, this is how you survive. this is what my experience was like and

rishaad: garfield reynolds, our chief asia contributor. a lot more on the way.omberg. ♪ rishaad: we have u.s. futures on a bit of a tear. certainly it is lending support to the rest of the region apart from what is happening with chinese equities. a busy week when it comes to equities. we have a raft of companies coming out with their earnings, including the big tech names, the likes of meta and others and boeing amongst the chief ones we may look at. we have got tech set at the moment, again feeling it. they just tech slumping about 6%, tencent down by almost 8%. alibaba slumping nine and jd.com slumping 10. there is no end in sight in terms of the pain with the policy out of the party congress. no change in policy and investor sentiment getting impacted. chip stocks also, tsmc said to be suspending work for the chinese chip start up a u.s. curbs. i want to also keep a lookout for party congress related shares, military shares getting a boost on the back of expectations that perhaps china will take a more aggressive stance. ab china up by almost 7%. millions ha