i resort back to the kiwis and aussies. the kiwis are getting ready for negative rate.hey are preparing the banking system. that goes back to the conversation that we had with steven major. he referred to what the aussie's and kiwis actually do sets the tenor of adjustment for the rest of the g10. it's ironic that the kiwis believe that they can't launch an outright fx war. never underestimate the rut of currency manipulators. nejra: absolutely. when you look at what a move, u.s. equities. anthony fauci talking about reopening to early could prove a setback later on. dan druckenmiller saying, a v-shaped recovery in the u.s. is fantasy. career, orrst in his in a long time. the s&p 500 dropped 2%. volatility striking. futures on the front foot in the u.s. right now. green on the screen in asia. european futures pointing to a down day. a mixed picture in equities. risk sentiment might be coming back. 10 year treasury yield down a basis point. zealand, thet new fed might be pushing back on negative rates. we got a quartet of fed speakers warning on the economy. new zealand

it is really the kiwi -- dollar-yen. it is really the kiwi you want to look at.stalling but we are slightly integrate. speaking of -- in the green. speaking of negative rates, let's turn to the u.k. country issays the heading into an unprecedented recession as he laid bare the extent of the economic cost of the coronavirus. later today, we will hear from the bank of england governor andrew bailey. he is giving testimony and was minister. you can catch that hear from 2:30 -- in westminster. you can catch that here from 2:30. still with us is valentin marinov. u.k., traders betting on negative rates by year-end. are you on board with that? does it make you negative on the pound? >> i personally think that negative rates in the u.k. could be quite a controversial decision and therefore would not expect negative rates to come that soon, if at all. overall, the debate has been going on. the justification for the markets to expect negative rates is the fact that during the thete, the boe or part of mpc have been remarkably open to the idea of negative rates. different

the kiwi dollar holding a three-day loss.d of australian jobless data which has been seen rising to a mid-90's. -- mid 90's high. >> the new zealand prime minister says budget will prioritize jobs and spending to shelter the country from the impact of covid-19. what do we know so far as to the situation new zealand finds itself in? paul: the situation is not terrific obviously. two budget surpluses -- that is all over. the virus response alone will cost $20 billion. new zealand's gdp is just over $200 billion. that is about 10% of what the country brings in. so spending is already rising before the virus hit and revenue falling. a fairly sizable deficit is probably in-store. a few things get released in advance. one thing we know is there will be support for the tourism sector. tourism generates 6% of new zealand's gdp, 21% of foreign exchange earnings. it pretty much dropped to zero when the country closed its borders. that sector staring at about 100,000 job losses as well. a speech mentioning the word calling thes, budget

upside for kiwi assets. the kiwi dollar testing 60 after being dragged lower on the rbnz 's cuts.ck out the risk barometer. the aussie yen stalling at a key resistance level for the second time in two weeks. we are light on the data docket. australian jobs report due out in two hours. figures.worse for aussie holding onto a three-day decline. kiwi securities recommending going short the aussie versus the greenback on u.s.-china trade risks. oil steady this morning while gold is extending gains after jay powell warned of the u.s. economy and infection risks. running a sustainable business may be rewarding in more ways than one in this environment. a study by fidelity international shows a positive correlation between a company's asg rating and market performance. the study says companies at the top of the sustainability scale on average outperformed those below. joining us now for more details is the fidelity international global head of stewardship and sustainable investing. good to have you with us. correlation does not equal know.ion, as we is there just a general sense that com

the budget deficit of new zealand at 2.6 9 billion kiwi dollars -- 2.69 billion kiwi dollars. the march balanced budget is just about $4 billion less than forecast. annette net crown debt has risen dated march 31. that headline number a shortfall of 2.69 billion kiwi dollars. we know the new zealand economy is better prepared than most in terms of dealing with these extraordinary monetary policy decisions, and the fact that the country went into a very strict an early month-long lockdown, and it has only just emerged from that. we heard from vr begins at talking about how estimates of gdp for the period -- from the rbnz for the period. 2.7 billion kiwi dollars, shery. shery: we are seeing u.s. futures holding steady as stocks rose. we have more positive sentiment that u.s. and chinese trade negotiators could be speaking as early as next week. investors shrugging off jobless claims, which topped 3 billion for the past 3 million for the second straight week. the s&p 500 was let higher by energy and financials. banky interesting that stocks to find the move and treasuries. you ca

kiwi stocks under pressure, down .9%.pressure from the aussie dollar and the kiwi dollar. these currencies have been supported against the u.s. dollar given that china is stabilizing and there is economic recovery in place. 1.3%, thiss down after the best april since 1987. wti losing more than 5%. plenty more to come. this is bloomberg. ♪ adam: haidi: initially the coronavirus was a health and economic story. economic slowdown, lockdown story, increasingly becoming a geopolitical one. australia has called for an international inquiry to the pandemic, fraying relations with beijing. we are seeing that play out when it comes to the chinese currencies. looking at offshore trading, it is pretty stable, 7.16. this follows on the biggest drop for offshore yuan in a month on the tariffs and investment ban talks and concern. we will be talking about this. over the weekend we heard from mike pompeo, the defense secretary in the u.s., and other policy officials there talking about this virus did emanate from a lab, even if the u.s.

if it might be possible to construct a machine that plants a sibling's directly in the soil planted kiwi and other inventors tried to develop effective solutions some customers stopped by his home to see his machinery in action many interested in his solar powered water heater. family here is the most important part of the tubes they're difficult to get but all the other things can be sourced from local hundreds toes this one has used a metal folding legs and normal iron shooting of it the most difficult thing is the heating tubes but i realize that used fluorescent bulbs can work if you paint them signing a color working away about it. built from 2nd hand material to his solar water heater only course around $155.00 euros about half as much as a shop bought one thanks to his creativity and skills on the planet kiwi has become a successful equal interpret as well as an adviser to other sparing innovators. fantastic ideas i wish we all could think of something simple and smart to protect our environment and also make the world a better place but now we move from one very clever man to a b

$155.00 euros about half as much as a shop bought one thanks to his creativity and skilled organic kiwi has become a successful equal interpret new york as well as an adviser to other sparing innovators. fantastic ideas i wish we all could think of something simple and smart to protect our environment and also make the world a better place but now we move from one very clever man to a bunch of very tough women in zimbabwe yes you're right we're going to an all female training camp for the wildlife rangers their admissions criteria are strict but the employment chances for the women are good we looked in on them to see what the training is like. this may look like basic training but in fact to this we men are competing to join a progressive conservation program they want to be part of the uk a shingle amanti porch in unit set up by anna strange and soldier turned environmental activist. sorry 2007 sorry we recruited the 1st 2 or armed all female ranger squads here in zimbabwe and the programs in our ground we've gone from looking after one reserve to being looking after 4 with a total of

this is really nice. ( kiwi 2, honking ) move it along, asshole!iwi 1 ) wow, two conversations at once. this is a dream come true! now, here in america, the lockdowns have not ended in many places, so many people have to find new ways to keep themselves entertained in quarantine. and because the met gala was supposed to take place next monday, fashion fans have started recreating famous outfits from the event at home. yeah, one person made a rihanna dress out of newspaper. another person decided to go with chandelier katy perry." and this is a challenge that anyone can participate in, because if you put any household object on your head, chances are someone wore it to the met gala at some point. so, yes, this year people are tdoing. because of the coronavirus people are wearing met gala outfits at home as opposed to what i did last year, where i wore a home outfit to the met. in other good news, the world was not destroyed today. yes, an asteroid as wide as 20 city blocks zoomed past planet earth this morning, coming and scientists say it could hav

kiwi stocks gaining ground a third session.t rate earlier today, coming in at 4.2%. after weres unchanged, sell u.s. stocks gaining for a second day in the new york session. we had sentiment boosted by some economies starting to ease lockdowns. hong kong and singapore pmi's, due in just moments, coming up. this is bloomberg. ♪ these days staying connected is more important than ever. so we're working 24/7 to maintain a reliable network, to meet your growing internet needs. we're helping customers who are experiencing financial difficulties stay connected. we're increasing internet speeds for low income families in our internet essentials program. and delivering self-install kits to your door. nos comprometemos a mantenerte conectado. we're committed to keeping you connected. for more information on how you can stay connected, visit xfinity.com/prepare. ♪ haidi: we are just getting breaking news. argentina and creditors are set to be negotiating concessions when it comes to the long-awaited bond deal. a a lot of of breaking news

also boosting large-scale asset kiwi $60program to billion. it was expected to double its purchase program and that has come in true to fashion. 60 billion kiwi dollars. it is projecting a contraction of its gdp in the second quarter to 21.8%. new zealand maintaining its benchmark interest rate at 0.25% , all pretty much as expected. the rbnz has been at the forefront of supporting the 0.5% already.ates under a lot of pressure for this fiscal stimulus, as we've been saying, to double to 60 billion kiwi dollars. facing a lot of scrutiny on whether to take rates to negative. we will see if it does that later on. for now, keeping rates steady. kathleen bring in hays. it does seem like rbnz did exactly what the markets expected. >> absolutely. there was no changing sentiment in the key rate. 75 basis points move in mid-march, that emergency front, the rbnz saying they are prepared to cut the cash rate further, taking it lower, then that door gets opened even wider. they are saying that the balance of economic risk remains to the downside. forhey a

it is seen holding on rates but staying kiwi. retreating from a five-week high, a click economic reopening has shifted focus back to week energy demand, haidi. been talkinghave about, the top u.s. infectious fauci, official, anthony has been warning against states reopening quickly. it risks new coronavirus outbreaks. >> there is a real risk that you will trigger an outbreak you might not be able to control, which paradoxically will set you back, not only leading to some suffering and death that could be avoided, but could even set you back on the road to trying to get economic recovery. if you would only turn the plot back rather than going forward. in emilyt's bring wilkins in d.c. for more. we heard from the head of the cdc, robert redfield, saying we are still not out of the woods yet, this after the president saying we have prevailed over this virus. today, aat we heard defendant hearing, we had a redfield,top people, stephen hahn, all of them had a very somber and serious message about where we are currently at as a country

kiwi stocks gaining ground for a second session. sydney futures trading higher, 3/10 of 1%.g to be watching out for qantas how it is now extending international flight cancellations until the end of july, domestic until the end of june. freight has achieved strong revenues for march and april. u.s. futures now paring back some of those earlier gains. we have seen u.s. stocks rallying late in the session. another big earnings week in the u.s. more than 160 s&p 500 companies reporting earnings this week. wti continues to extend gains, above $21 a barrel. we have seen the pace of stockpile built in the u.s. slowing down last week. coming up in the next hour, head fromset allocations ben, continuing economics, will be discussing upcoming rate decisions in australia. we have the rba's monetary policy decision. not to mention malaysia's rate decision as well. this is bloomberg. ♪ haidi: a very good morning. i am haidi stroud-watts in sydney alongside shery ahn in new york. we are counting you down to the market open in australia. welcome to "daybreak asia." the coronavirus blame g

the asx 200 gaining one kiwi stocks gaining -- asx 200 gaining, kiwi stocks gaining.employment benefits top 3 million for a seventh week as the economy froze. that takes the near two month .otal more than 33 million california, texas and georgette report the highest a new levels. april payrolls are due friday and are expected to highlight jobs during the coronavirus outbreak. meanwhile, u.s. cases of coronavirus surged the most in two weeks, rising almost 2.5% topping 75,000. president trump and vice president mike pence say they will be tested daily for the virus after a military staffer at the white house was confirmed positive. cnn reports the person is in the navy and works as a valet, suggesting possible contact for the president and his family. china and the u.s. resume trade talks next week after president trump hinted he may cancel the january phase i deal. the administration indicated is -- it is not happy with the pace of beijing purchases in the president says he will terminate the deal if necessary. premier will be on the call next week along with u.s. tra

the kiwi they are doing -- the be lesswant the ecb to like their past selves and more like what the fedor the bank of england is doing. just to give you some numbers come every week the ecb is purchasing around 4.3% of gdp. that sounds like a good number, but the bank of england is doing double that. the fed was doing at least 15 times that. increaseo see the ecb the package. something like 500 billion would be towards the top end. if they went even further, that would be more fantastic for spreads. that would mean risk on in terms of equity markets. you debt spreads narrow. higher qe leads to a weaker currency. jonathan: that is what i want to jump in on. i think that is critical. increase europe and an of flows into the comment on the back of optimism results in a weaker euro. that would be intuitive for a lot of people outside of europe. that is what we are used to. i'm wondering why that would play out inside of europe? jordan: it is wrong if the curve does not flatten. if we get qe where the curve steepen's, which would be bizarre, then we would see higher yields and the euro goes

kiwi dollar -- kiwi stock holding steady.ore on the markets with mark who joins us in singapore. a lot of factors are affecting dollar end trading. trading. and yuan mark: we are beginning to see the option market taking more seriously that there could be downside risk so we are seeing a build up activity of people expecting it to be a higher rate during the year, particularly for the six months that goes into november. things like he does not want to talk to xi jinping, you see an increase in activity of hedging. we might see more in the coming days if tension increases between the u.s. and china. we could see more action in the option space, more people hedging themselves against the risk that the yuan could weaken later in the year. we have chinese activity data for april later today. how will it affect asian stocks? mark: people are hoping we see more evidence that china is starting to come out of their lockdown. the numbers themselves are not expected to be very good. they will mostly be negative but they might not be as

kiwi stocks also at the lowest in two weeks, while u.s. the losses that we saw on friday. coming up next, we have a slate of asian manufacturing pmi's. this is bloomberg. ♪ there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us. thee have we are getting latest coronavirus case numbers. china says they have three new coronavirus cases on may 3 and all cases were imported. there reporting 13 new symptomatically so on may 3. this as we continue to see global cases rising, during 3.5 million. check of theuick first word headlines. japan will announce plans to restart the economy while extending

kiwi crowned -- kiwi stocks gaining ground for seventh straight day, the highest level since march 11s this morning indicating perhaps the worst case scenario imagined over the past month may be avoided. goldman sachs says the oil market is now on the path toward rebalancing. and global inventories are slowing while falling in china. the bond market remains sharply in focus as supplies loom large. the aussie tenure yelled edging closer to 100 basis points as we learn deal tells of the governments plan to issue a syndicated sell of 2030 treasury bonds with guidance indicating at spread of seven to 10 basis with pricing expected on wednesday and settlement next thursday. in the terminal, several indian provinces will tap debt markets along with the government tuesday. head of the -- ahead of that, indian bond markets were shocked by buddy's plan to boost borrowing 54%, sending the 10 year yield higher by 20 basis points. this would increase the budget deficit to 5.5 certain debts percent of gdp. a snapshot of chinese bonds using this chart on the terminal. we saw the selloff worsening m

kiwi and lemon have to grow on trees so it takes a lot longer than a few weeks, just a warning. >> allight, thanks, mike. >>> look, mother's day weekend will be a little different for a lot of people. but if you are still looking for ideas while you're sheltering at home, a special delivery may be your answer. hot delivery ideas include a chef-guided meal kit or maybe a brunch with a bouquet. and in some areas you can have a mom-osa delivered. one etiquette expert says now is the time to show your mother love no matter how big or small. >> if no other time, we as moms really need to be encouraged right now. and we need to know that folks are thinking about us on this special day. >> doordash is officially offering a mother's day special. any gift card of $75 or more includes a free $10 gift card, not too bad. >>> a last look at the forecast, kari. >> so we're going to see that hot weather today, cooler weather for the weekend. mother's day is looking pretty nice. highs in the upper 70s. you can plan to spend a little more time outside. we'll see more clouds next week and some rain in t

upside in kiwi trading at the moment. u.s. futures stumbling. a little downside when it comes to trading in the futures on the back of the failure to hold onto the key psychological 3000 level for the snp, geopolitical concerns getting the best of investors overnight. japanese futures looking flat as well as the situation here in australia potentially still looking to extend that rally of 3% yesterday, which takes us to the levels highest since early march. a quick note on wti. a bit of a pause in the oil rally on hints that russia is intending to scale back on production curves as early as july as well as increased tensions between china and the u.s., putting doubt over the recovery for demands. let's get back to the top story. hong kong is bracing for perhaps the biggest day of unrest we have seen in months. fresh protests are being called by student groups and a prominent trade union. the rallies are planned to demonstrate against national security laws planned by beijing and local legislation that was criminalized disrespect of china's natio

thebiggest kiwi out there, balance sheet of the swiss national bank -- qed out there, the biggest --nt thing is that negative rates could work only in tandem with other aggressive easing measures. in isolation or when they are not accompanied by fiscal fail, andthey may be the best example of that. back,e are going to come valentin marinov with credit agricole. our first word news in new york city. ritika: one economist says this might be the worst macro economic data report in u.s. history. the government comes out with april jobs numbers at 8:30 and it is likely to show that 22 million jobs were lost, 11 times the previous record decline in world war ii. the unemployment rate will hit 16%, the worst since the depression.great a malaria depression. a malaria drug touted by president trump failed to help patients. tests on the drug hydrochloric chloroquine. hydro germany, the number of coronavirus cases rose the most in a week. this is as they are preparing to shops, andrants and soccer matches will resume. democrats are accusing the justice department of bowing to pressure in the ca

kiwi stocks are under pressure. the kiwi dollar ticking higher. spoke of negative rates being just one option for the central bank that it is prepared for but not to be adopted at this point. shery: let's dive deeper into the markets and bring in mark in singapore. here in the u.s., we saw the valleys and the selloffs elated to that moderna vaccine. it was a similar picture to what we saw a few weeks ago with the experiment of drug. are we seeing the same sharp reaction into the markets when ,t comes to asian equities viruses and virus related headlines? used twol have to get training virus headlines. it is not just one company that is chasing a vaccine. there are several companies around the world. even in singapore we have a company that is looking at finding the antibodies. that is to help protect people as well. there are various ways we will see virus headlines feeding into markets. setback was pretty modest considering the strength of the rally we have seen since march. some people are saying that it has been going sideways for the past coup

restrictions remain for schools restaurants and public areas prime minister just into ardor and says kiwis should be proud of their efforts donald trump says he's confident the u.s. will have a coronavirus vaccine by the end of the year a sign. believe it will take at least a year before it's created and distributed brazil's amazon region has become the netas frontline in the battle against coal read 19 infections are rising quickly leaving hospitals overwhelmed and it's feared the outbreak could severely hit indigenous communities in other news israel as well as future could become clearer as supreme court judges hear final augments about than a galaxy of a new power sharing deal several petitions have been filed against a coalition agreement between benyamin netanyahu and benny gantz critics argue shouldn't be allowed to form a new government because of his indictment for corruption those are the headlines on al-jazeera as always we've got much more news on our web site al jazeera dot com the very latest on all of our top stories on there up next here it's inside story to stay with this.

steady, theretty kiwi dollar also pretty steady right now, inching up a tad higher at this point in timeere are some stocks to watch. keeping track of reports that they will not be accepting new but they sayuawei, it is just a rumor. they do not disclose order details from customers. , 7/10 of 1%,p saying it will continue to buy back their shares, providing some support for the stock. garuda, the indonesian flight carrier, it is set to benefit finally, we, and are watching rio tinto, surging -- perhapsding above suggesting it is a stock that has been overbought, so keep a watch on rio tinto. rish? rishaad: ok, we will have a look at some of these first word headlines, and we have got some of the biggest economies fighting to shore up growth, all amid what is going on out there. indonesia with rapid easing of restrictions, with a ban of travel during the upcoming eid holiday. there was the relief package that fell short of expectations. failing to deliver an immediate boost to an economy that was slowing down even before the impact of covid-19. we have got fed chairman jerome powell confi

and every time they arrive they eagerly awaited on today's menu a sandwich a carton of milk and a kiwi you are 3 you are a spirit in this family both parents are unemployed they receive $1200.00 euros of welfare a month but as a family of 5 it's barely enough to live on well. try to get in that way street 3 but towards the end of the month one spring from ole to maybe 1. 1 of the cardinals will know the one of them are there that's not one of the morning when i usually skip work was to watch and. watch in the night and so on if you was. being caught to the point of starving you to morrow the remark that they. are this reality is nothing new in the appalachian region. during his $964.00 election campaign lyndon b. johnson visited appalachian and was horrified by the poverty he saw after his reelection he launched the most a plan to put an end to poverty. here and now declared on them very no war on poverty in america i one of his ideas was to create food stamps coupons given free of charge to the poor and. to this day the government distributes these food stamps to 40000000 american peo

if i look at copper, aussie come aussie-kiwi, aussie- powerful fxthe most and commodity plays in regardsa so if china is going to be more powerful, is going to be are there any, commodity vicarious traits for china? catherine: we prefer to play it through two companies, analyzing andactual sales profitability of companies and their exposure to china -- manus: what about the miners? this ist last week said a trump -- triumphant moment for the guardians of capital within martin -- miners. catherine: we don't have a huge exposure to minors. -- miners. only to gold, primarily through physical gold rather than the gold miners, just because there tends to be more noise about management issues and therefore, physical gold is a more direct way of getting exposure to the precious metal, but we think this is going to be choppy along we way, and therefore, prefer to avoid some of the more cyclical areas, although our absolute isn't cyclicality. that point made expressly around gold and the gold miners. pivoting slightly to a big narrative in the markets this morning. there are three, negative rates

kiwi stocks are unchanged. 15 minutes we are getting first quarter ismployment rate during this fromor market looking prior to the impact of the lockdown. watch out for that. we will get you those numbers soon. is from thesydney futures under pre after the rba left rates unchanged. we are watching out for retail numbers. that will be interesting and we have seen the toilet paper driven surge in april -- in march. u.s. futures gaining around .2% and crude extending gains. the trump administration is stepping up his attacks on china, blaming beijing for the coronavirus pandemic while china is pushing back and seizing the moment of global uncertainty in making a power-play in washington's backyard. eric farnsworth recently put out a warning on virus play in the americas and he joins us now. this has been happening for some time, but how does the pandemic make it an ideal situation for beijing to expand its influence? >> it is great to be back. this is something that has been going on for a good, long time, 15 years in terms of china laying the groundwork to capitalize on the impression

kiwi, positive. suggesting negative rates still an option, but there are many hurdles to jump. taking a look at how futures are shaping up, the s&p futures suggesting a higher open. futures up by 1%. adding to some concerns expected to hit the coast of india. india, 10-year yield. we have india saying it will allow more exposure to government bonds. this will help address liquidity problems. bonds have been sold out and investors are looking for the r.b.i. to provide some support. now, let's get more on the market action with mark cranfield. priced into the market. yes, we are going to have to get used to volatility from various headlines about whether they are working or not working. i think you can see from the response particularly from the s&p 500 that investors are getting used to that there are multiple people looking for a vaccine cure. i think that is why the setback has been relatively modest. from&p is still not far 3000, which is a vast improvement from where it was. frometback is quite small where it was compared to recent gains. has only given up a very small amoun

this is how the kiwi is trading. we are looking at a positive set up to the opening in sydney.berg. ♪ >> welcome to "daybreak asia." kamaruddin in hong kong alongside haidi stroud-watts. we are counting down to the opens in australia, japan, and south korea. look set to rise on indications china's recovery is picking up speed. u.s. shares gained. banks and energy leading the way. global virus cases approach 4.5 million with deaths above

exchange markets after the comments from the reserve bank of new england, a move for the new zealand kiwi dollar up by .5%. that is where we are at the moment. let's look at what is going on in the first word news as we get to new york and join karina. has dodgedowell senate efforts to make and take sides on coronavirus 80, maintaining a neutral stance in the debate over whether the u.s. should add to its stimulus. powell and steve mnuchin testified remotely to the committee. how all reaffirmed his stance more fiscal help may be needed but stopped short of a full endorsement. china has taken another swipe at australia over calls for an investigation into the origins of the coronavirus pandemic. having put duties on burly and some beef imports, beijing is threatening to target wine and .ary, and --dairy other products could face punitive measures and their are rumors state media could call for a consumer boycott. we advise australia to read the original text carefully and not take conclusions for granted. we've asked australians to change course, abandon political manipulation, and return

kiwi stocks opening to the dance like, to snap a two-day gain in wellington into a session that bringsp policy decisions from thailand, earnings from xiaomi and lenovo. google watch the boj ahead of the emergency meeting on funding for small businesses and china expected to hold after last cut very weis point will get pulmonary sales data for australia. forreliminary sales data april in australia. imposed duties on barley exports from australia. more true troubles emerged, unsurprisingly is virus concerns and the latest fund manager survey by the -- two thirds believe we are in a bear market rally. while there was a jump in global growth expectations, 10% of those surveyed expect a v-shaped ofovery with a second wave infections being debated -- being the biggest risk. haidi: which showed optimism over a quick virus vaccine has drained away with questions about the initial trials of moderna's vaccine. early they said they were safe and data shows immune response. early nature highlighted by the health publication was enough to put a pin in investor hopes. let's go to our opinion columni

kiwi stocks gaining for a second session. sydney futures higher by .3 percent. as we head towards the rba monetary policy decision, not much change expected there although we are hearing from the treasurer that we could see a deep contraction this quarter. we are seeing crude gaining ground, extending gains above $21 a barrel as we see u.s. build now slowing. the push to reopen state economies is clouding efforts to predict the official told from the coronavirus p he has ramped up his death production. -- coronavirus. he has ramped up his death projections. greg sullivan joins us now. president trump still pushing for the reopening of some states. the are seeing a few states really accelerating those moves, and yet the projections for coronavirus cases and deaths, not anymore optimistic. greg: that's right. growingections are not anymore optimistic and president trump, as you said, did acknowledge that over the weekend, saying it would -- deaths would likely reach 100,000, which is higher than he has been saying recently. the focus for the president seems to be

kiwi stocks gaining ground for a fourth consecutive session. we did get jobs data beating estimates in new zealand. sydney futures under pressure. we do get the aussie trade numbers as well later today, and we are getting a bit of a mixed picture overall. japan back from holiday. the japanese yen, the strongest in seven weeks, haidi. just getting the lines crossing the bloomberg when it comes to budweiser reporting that first quarter loss of $41 million. the revenue for the first quarter coming in at $956 million. first quarter adjusted ebitda and $171 million. the change in dear volume -- volume isume -- beer a decline. $41 million for the first quarter. in the meantime, let's take a look at china. we have got rescheduled mpc going on, and of course, the latest that we have heard when it comes to what beijing's expectations are of growth. the fact that we could potentially have this dropping of the numerical gdp target, which would really be a pretty historic decision. let's bring in selina wang, our china correspondent, who joins us out of be

the kiwi dollar under a little bit of pressure.d seen a little bit of strengthening after most jobs data beating estimates. wti rebounding after snapping a five-day rally. u.s. futures and sydney futures under pressure. see oil snapping the five-day rally over supply concerns outweighing economies gradually reopening. petroleum stockpiles hit their highest level ever. formerdiscuss that with -- let's discuss that with mark finley. we did see a little bit more of a recovery when it comes to new york traded crude. this givelly, does credibility to what we saw in the last five days, the doubling of prices after the historic collapse that was a dead cut balance because the fundamentals in the market are so skewed to the downside as a result of what is going on in the supply and demand? mark: i think the fundamentals are clearly getting better. we are not out of the woods yet. simple math is that while chinese demand is beginning to recover, u.s. demand has begun to recover, opec supply because have begun to take effect, but there is st

we are seeing some steadiness after the kiwi dollar hit a two-week high on reports china may impose tariffslian barley exports. treasury futures are edging future through the market assesses the risk of negative rates and we will see if there is pushback from fed officials this week. flipping the board it is steepening the yield curve, supply pressures looming large. seeing the gap at the rightist -- the whitest since march. that speaks to the consensus trade we have seen that has emerged for steepening. looking at the aussie bond market, this is as traders are preparing for a new syndicated bond to hit the market. it is lower by 12 basis points and a three-year around -- haidi. haidi: governments and central banks throwing everything they can at the downturn, but even a u-shaped recovery will have an impact on the prices of everything -- every day items. there is a massive disinflationary demand shock. joining us is the private bank director and portfolio manager from credit suisse, jasmin argyrou. this is the concern that is gaining in the broader market narrative, we could be setting up

there was -- the rbnz's overnight cash rate is likely to be the only thing unchanged later as the kiwitral-bank looks to head off declining inflation expectations. we get a preview on what to expect. this is bloomberg. ♪ this is bloomberg. ♪ the big of new zealand is to double down on bond purchases as pressure builds for aggressive steps to rescue the economy from the coronavirus. kathleen hays is here with a preview of what to expect. what is the rbnz expected to do? starting ie are looking out for doubling down on the amount of bonds they have been buying. they started that in march. they are seen taking that number two $50 billion new zealand. and remember in the emergency march meeting, they cut their points. by 75 basis it was a surprising move, aggressive. it was always a question of the rbnz signaling they are ready to do something like that, negative rates, or more than that if needed. they are looking at a gdp in the second quarter that is expected to drop up to 22%. it was not that strong but 1.8% growth, unemployment could get to 10%. coming,e is a budget the finance minist