kuroda japan governor announced the move today. he hopes it will push banks to sluggishpite japan's economy. the central bank will be charged a fee. talks overws, peace syria resumed in geneva. andesentatives from russia syrian president bashar al-assad's government will meet. the u.n. is brokering the talks, saying syria's humanitarian crisis must end. all sides are using hunger as a weapon, putting up blockades. u.s. diplomats say they are having a hard time getting otherworld hours to get tough with north korea. promotings. is fo u.n. sanctions. among the ideas that's cutting off the country's oil supplies or finances. the yuan is not expected -- the u.n. is not expected to back either plan. brazilng the zika virus, is hardest hit. in august, the world health organization well hold an emergency meeting monday about the crisis. the virus has been found in 24 countries now. and conservative lawmaker care and brady said according the eu will make it harder for british teams to sign. fans will face travel restrictions fear she is vi

kuroda corona -- striking back.talk about currency wars, you have to talk about what is happening regionally. part of it. a big the currency factor has got to be playing in. he is worried about the inflation target and says this will get them there quickly. i will talk about that in a few minutes the big move we have seen since the end of the year. -- theght into the end yen. jonathan: kuroda makes his move over to the pboc, surprising the market, adopting negative interest rates while maintaining its record asset purchase plan. our tokyo bureau chief has more now. really appreciate your time on such a busy day for you. i was going through the estimates and struggling to find anyone who saw this move happening today. how big a surprise was it? >> there was not a single economist who we survey before the meeting who was expecting this. that was partly because corona waself -- kuroda himself speaking in parliament that he was not looking into this option at all over the last few weeks, he did not seem that worried abo

european markets rallying this morning after kuroda governor kuroda c-- after governor kuroda cut ratestive territory. mark: the yen biggest decline since december 2014 as kuroda managed to shock markets. ryan show called interviewing the russian energy minister who confirmed no meeting between opec and non-opec investors. is in the offing. crude giving up half of its earlier gains. ryan chilcote, well done. francine: well done. well said. stay with bloomberg. "surveillance" is up next. we'll talk more about the boj experiment and whether it will work. you are watching bloomberg. ♪ . . . ♪ bend me shape me, any way you want me as long as you love me, it's alright bend me shape me, any way you want me you've got the power, to turn on the light shape the best sleep of your life. sleep number beds with sleepiq technology adjust any way you want it. the bed that moves you. only at a sleep number store. vonnie: catching up the ecb, the 10-year yields at an all-time low, and stocks gain. in a bloomberg exclusive, the manager saysy outlook talks are only possible at all exporting nations agree

if you look around the world -- kuroda: yes and no. is concerned, japan suffered until 2013. , very3, we adopted qqq e substantial monetary easing. we are improving inflation situation. japan --he bank of they are overburdened. [laughter] they are doing the appropriate thing. one final question. you're confident. next year, we have another interview in doubles in the same place, things won't be much worse? i think next year will be much better. or at least better. francine: an optimist? kuroda: i am always cautiously optimistic. i am duly cautious. as a former presenter of the asian development bank, optimist. combine these two, i'm cautiously optimistic. francine: only back in a couple of minutes to continue with bloomberg go. the third welcome to hour of bloomberg lp we are alive at the world economic forum in doubles, switzerland. erik: you just saw an unbelievable interview. francine lacqua doing with the government -- governor of the bank of japan. you saw the impact on the japanese yen. and media. matt miller will bring us up-to-

kuroda's decision triggered a lot of volatility in japanese markets. most sectors on the topics reacted positively except for the banking sector. the bank plunged 11%. other groups were also down as negative interest rates are viewed as unprofitable for banks. the boj's decision sent a wave in currency markets as well during tokyo morning trade they were in the 118 yen range but that jumped to the mid 121 level after the boj decision, however, one currency dealer saying says the -- he was a key person in the government's economic strategy. now, all in all on friday crude kuroda's move did shock the market. >>. >>> moving on to other markets in the is that pacific region, south korea's kospi ended at 1912, shares rose after dipping intra day. over in china the shanghai composite added more than 3%, closing at 2737, analysts say investors bought shares on reporting that the peoples bank of china will further pump money into its hang. the hong kong index advanced 2.5%. singapore's sdi was up 2.rs, gains in oil prices helped boost investor sentiment there.

this is kuroda being freaked out by three weeks of turbulence on capital markets?eaked out is too strong a word. you can take a longer-term view which is why he is reluctant to do more, because the data out of japan is not that. , he outlinedt week his views. the problem is in the real world, market turmoil and volatility does affect the real economy eventually, because even the most unjustified fears can turn into prophecies. if the central banks wait until it is visible at -- it is visible in the data, it is usually too late. we are in a carry a situation where this is a banks have to think very creatively about what that's about signaling that their intentions are -- about signaling what their intentions are. let's see what mr. draghi can achieve. also ms. yellen in the u.s.. jonathan: 10 basis points on the jgb. the two year yield over in germany, new all-time low, negative 0.4 percent. the negative japan doing more. what struck me, the first thing i did when i got into the office, would go back to april 13 -- april 2013, it was a 2% target on a two-year horizo

17% say kuroda. 40% say draghi.beating draghi at 43%. >> i would say yellen has a tougher challenge. she's the central banker of the world. she has to walk a thin line. >> we've got to leave it there. have a nice weekend. n't predict the market. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. it's gotten squarer. over the years. brighter. bigger. it's gotten thinner. even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. >>> good morning. happening now, amazon shares plunging after holiday quarter results missed wall street's mark. gop candidates sparred in iowa last night without the donald, but his presence was still front as well as center. and we're going to ask two political veterans who won, whether trump won the debate by sitting it out or not. plus, we're going to tell you why olympian michae

this hour, we speak to the bank haruhikogovernor, kuroda.

kuroda, the governor of the bank of japan, an important moment for him. stay with us, this is "surveillance." ♪ tom: good morning, everyone, from the world economic forum in davos, the second lovely day here. we are here for a final day of conversation. we hope to bring you some smart conversation on television and radio. very quickly, the data check -- a continuation of the bounce. francine and i are calling it the dead davos bounce, churning off the draghi bombshell. 10 year yield up, up to a 2.06. oil with the rebound. i was asked eight times yesterday, what do i think oil will do? and $100?between $20 [laughter] tom: it will fluctuate. we have a wonderful guest, a wonderful tradition, to speak with laura tyson. no one in america dovetails policymaking and thinking about the workplace like the professor. she combines it with a real-world experience, starting long ago and far away at smith college. your last year at smith college, what did they say? get into the citigroup leadership program? put you in a cubicle? >> a wonderful thing about starting with

kuroda laid out.ay to read that is they are saying it's not something that further easing in japan is necessarily going to solve. unless mr. kuroda decides to come out and do something very strange, like buying real estate, something he hasn't done until now, i don't think the impact would be lasting. you can expect the boj to stay on policy. jonathan: brian fowler joining us from tokyo, thank you very much. up next on this program, social climber. facebook shares a surge after hours as opposed to its latest results. we will break down the numbers, next. let's get a check on the markets for you. ,quities initially open lower up 1/10 of 1%. more on the markets after this short break. ♪ jonathan: welcome back to "on the move." these are live pictures. the japanese economy minister says he will step down. some allegations from a japanese magazine that he and his secretary accepted at least ¥12 million in undeclared donations from a construction company. he talked about those allegations this morning, and

chancellor george osborne and harry ito kuroda. the sunny but freezing doubles, switzerland. ♪ >> from china, i am positive. the market has to accept the positive because it is possible that is impossible -- part of the functioning of the market. guy: the ceo of credit suisse speaking to francine lacqua a little bit earlier on. positive on china. compare and contrast what he had to say about china with what we heard in francine's conversation with george soros overnight who says he is currently watching the hard landing happen in china the big subject of davos. let's talk about what is happening right now. draghitalking in -- talking in's right now. -- talking in davos right now. we are up across the piece this morning. not as much as tokyo, 5% plus. center.mains front and that is the focus. that is what we are going to talk about. let's get back out to davos and francine lacqua. francine: thank you so much. we are pleased to say we are hit -- where with ahead of -- jin liqun. this is an economy that will do great. are we overoptim

. >> reporter: on the final day of the conference, bank of japan governor kuroda attended a session on the prospect of the global economy. he said the level of market turbulence at the beginning of this year was stronger than anticipated. kuroda also said the japanese economy will continue to grow by 1% to 1.5%. >> the economy has been making a moderate recovery, and we would expect this kind of growth will continue for some time. >> reporter: one of the biggest challenges facing japan is how to end long years of deflation. some economists say the first task is getting rid of the deflationary mind-set. unfortunately, the expectations of the japanese public, including corporate managers, people who pay the wages of the japanese workforce, i think, are still somewhat mired in the deflationary mind set of the past. so i think that's the key issue here. i think the bank of japan, the policy board level needs to have that kind of discussion. what do they need to do to convince the japanese people that they both have the means and the commitment to end deflation. >> reporter: another topic w

kuroda would take further action towards the end of this year.the motivation of further easing the monetary policy is that the consumption tax. 8% told be raised from 10% in 2017. usually, when there is a consumption tax rate raised all we need to have some kind of slow down of the economy. he is thinking about that. he is probably trying to aggressively ease the monetary policy to help the japanese economy in 2017. so i would expect some kind of easing, once or twice this year. to cope with the impact in 2017. manus: what is the risk of a recession in japan? it narrowly missed the end of the third quarter. from what you are saying to me there, we are on a seesaw -- a knife and of risk? the risk assessment in japan? eisuke sakakibara well, we did in 2014. growth rate when the consumption tax was raised from 5% to 8%. there is a possibility we will have mini-recession when the consumption tax is raised to 10%. da said, i am. kuro thinking about that. trying to help you japanese economy avoid the recession by aggressively easing monetary the end of

kuroda said wages should increase in step with rising prices. >> translator: i'm not simply hoping for prices to rise. wage hikes are essential for sustainable economic growth in japan. >> he went on to say that the country's jobless rate stands at a 20-year low and corporate earnings are at a record high. that means conditions should be ripe for wage hikes. >>> this week, "newsline" is airing a five-part series on the economic outlook for major markets. today we'll focus on the biggest economy in the world -- the u.s. last year the federal reserve raised the key lending rate for het first time in nearly a decade on the back of a recovering economy. i asked an expert on what he's expecting this year. university of tokyo professor motoshige itoh specializes in international economics. he's a policy adviser to japanese prime minister shinzo abe in compiling the country's growth strategy. itoh says the u.s. economy is in the process of recovering and should grow at about the same rate as last year, roughly 2.5%. >> in a sense, the united states is the only economy which is recovering very

said kuroda didn't know what kuroda was going to do until he did it. which is troubling on its own. but i will say that this was a surprise, it changes the game for the federal reserve, and it may bake out additional rate hikes. >> we'll drop it right there. steve liesman, thank you very much. josh brown. for a news alert to sue herera. >> and still developing story, the two busiest ports on the east coast, that is the port of newark and the port in bayone have been shut down by an apparent walkout by the workers there. this happened -- started to happen a little earlier. nbc is estimating about a thousand workers have walked off the job and those ports are run, of course, by the port authority, who has issued a statement. they say, as the agency that oversees the largest port complex on the east coast, we strongly urge the ila members, union members, to return to work immediately and resolve their differences after they return. right now, we do not have any containers being unloaded. we have all of the trucks locked in, according to wnbc's brian thomp

good for corona -- good for kuroda. theater manipulation, the market psychology, is about all the central banks -- certainly the boj and the ecb -- it is really all they had left. it will be interesting to see how quickly diminishing returns said in on this strategy. what mario draghi said last time let the markets to expect action from him next time, but what has he got? what can he do? mere words, mere symbols are not what will be effective next time. he has to produce something and it is hard to see what that can be. stephanie: clive, thank you. our own clive crook, joining us from d.c. --ncine lacqua in washington washington, d.c.? in london. it is hard. it is friday. remains.ler we had big earnings this week. amazon down big. 10% premarket. i do not even call it an online retailer. it is just so much bigger than that. they missed big on earnings. we will dive into the numbers and asked the question, is this a moment where investors are going to suddenly say, jeff bezos, show me the money? we will be back with more.

the bank of japan governor kuroda hopes it will push banks to lend.s central bank is leaving the interest rate unchanged, but warning it may tighten policy if inflation risk intensifies. it will stay in line with all surveyed economists. that is your business bloomberg news update. let's look -- right now we are at session's highs. the dow is up by more than 300 points, pushing the 2% rise mark . taking a look at the s&p 500, it is up. is speaking to the broad rally that has been happening for the course of this entire day, locking it two days of gains, led by tech stocks and health care. i want to talk about some of the movers. amazon is one of them. positivet going in the direction. it is down. one of the outliers. this is the biggest fall since august. it is all about spending. it's missed its fourth-quarter profit coming in at a dollar per share. upf bezos is ramping spending for things from faster shipping and the first super bowl ad that it's going to come out. spending rose 20%. take a look at microsoft. microsoft is going up because of cloud s

have all of the details and what would kuroda do?xtent, it helps the japanese economy and corona outflowstended the that we have seen and we have to tweakmber of them the policy and lenders will need to put aside more capital. it is a saying contradictory situation with the chinese economy slowing and the monetary policy will increase the capital output. let's take a listen to what he had to say. >> i do not think the chinese economy is faced with a risk of a hard landing or anything like that. , it isonomic growth quite respectable. >> so, let's look at the chart that shows how much china has been forced to go through with the biggest stockpiles. it went off a cliff and there was a lot of volatility in the pick there and a a record amount going out last year. this is the first annual decline since 1992 and, while they are not running out, this is not a tenable situation and, and they added iron ore and it was freely usable and tradable. big promise and -- >> certainly, the imf does not want to lose faith here. there are some who say

kuroda -- wenor also know that he is more than capable of a surprise.ike in 2014 when he expanded. risk to growth to be too skewed he will bring other board members around to expand stimulus. goldman is saying we will likely see expanding qe in april. rishaad: what is the point of this? the law of diminishing returns. the yen down.es it results in stock market returns. that all of these things are going to result in diminishing returns. it will not have the impact of the first and the second. the factors are driving up the yen in creating losses when it comes to japanese equities are global. they are not domestic. goesif governor kuroda ahead, it will have minimal impact. rishaad: it is global. problems theyphic are fighting. rishaad: they have a litany of issues. the yen as you about we are talking about japan. what we have had our a lot of investors flocking out of risk ask it -- risk assets and going into haven commodities. this andou make of what do you make of the bank of japan if they do expand the stimulus program? what is the point of it ultimat

than we have janet yellen and hiroki kuroda later on friday.ave been stressing on a good note -- starting on a good note on this monday morning. rishaad: oil has been hovering around $32 a barrel today. investors buying back some record bearish bets. crude still down by more than 10% this year. markets are loaded with oversupply. here is haidi. difference two days makes. the biggest two-they rally in more than evan years. as you said, they are on the move again this morning. 1.5%.s gaining glioma let's talk about the catalyst for this. we had hedge funds jumping on these lowest prices that we have seen since 2003 to close out bearish bets. oil still down more than 10% we started the year. analysts say prices going under $30 a barrel exceeded wildest expectations. at some stage, you have got to take a profit. that is what we are seeing. we also have the proposal of output quotas from opec. the number of oil rigs drilling in the u.s. fell by five. is it enough to meaningfully reversed what we have seen in the oil patch. the fundamentals have not

kuroda says they are willing to do more to move the needle.ak losses in years. there you see a carry trade in japanese. korea just reported a collapse in both exports and imports a few minutes ago. inflation in australia picked up in january. .he measure shows 2.3% rise later on this morning, thailand is expected to report a 13th straight month of deflation. 46% is the estimated fall in january prices. those things are important. none will be more important than the manufacturing pmi report from china. forecasts have fallen slightly. 49.6, which would be the same as last november. 48.1 is the estimate for the titan manufacturing number. this is more about the appetite of chinese imports in china then on this -- the health of the south korean economy. one of those rare times we have to check the bond markets because that is where we are seeing the sharpness. have a look at the 10-year jgb bonds. they do not call that the widow maker trade for nothing. six basis points with a 10-year jgb. we are continuing to see pressure on those yields. dollar

governoror kuroda -- he has one chance to get it right.inflation is not on their side. >> no, it's a monumental task anyway, but in terms of what is happening globally since crude oil has started to fall in the middle of 2014, it's an even larger monumental task. it is extremely difficult. given all of that, we must say the underlying inflation that the boj, the fresh food and energy, is at 1.2% of expected to take up on friday. i have some sympathy for kuroda's argument, that there is evidence there. the problem is going forward, and i think the massive devaluation has obviously started to reverse. that we seere is a further reversal, and that feeds into a lack of wage growth which could push the underlying inflation rate lower as we move through this year. they are under pressure to act. francine: i spoke to governor kuroda, and it was clear that he said he is not seeing a direct impact on capital spending, because he is watching it closely. when do you expect to act? does it have to be friday? it seems less likely than two weeks ago. >>

draghi signaling, will kuroda follow-up?t in sunny davos, switzerland. ♪ guy: good morning. day three of the world economic forum. a warm welcome. i'm jonathan ferro. moments away from the european trading session. rallying.cks and oil the potential for more ecb stimulus sparks a surge. the billionaire investor tells bloomberg a hard landing is practically unavoidable for china. goldman sachs and templeton disagree. life from davos, we have a lineup, including the u.k. chancellor george osborne. withn exclusive interview the new argentinian president macquarie. right. japan had a cracking session overnight, up 5%. how is your going to open? let's find out with caroline hyde. caroline: we had it wanted to 60 billion euros to the stoxx 600 yesterday. he managed to talk up the market. seeing stimulus to come in march. jpmorgan and rbs saying there ringing all of their expectations as soon as march. you start to see the worrying of the equity markets after such sensational falls. we can start to eat back. 2%. up 2% -- cac up onl

governor kuroda calls it the third dimension to his easy policy. >> and that shift to negative rates propelling european equities higher, but it's too little, too late to save an ugly january as we enter the last trading day of the month. >> peripheral banks have been powering ahead this monk. swinging to a profit in 2015. we'll be hearing from the lender's chairman a bit later on. >> and amazon fails to deliver on quarterly profits, sending shares sharply lower after hours. this despite record revenue. >> hi. good morning, everybody. happy to have you with us. if you're just joining us, maybe watching from the states, very early. happy friday. incidentally, we've had this rally seen in asia overnight after the bank of japan's move. that rally continuing here in europe to some extent with many markets higher by 1% to 2%. somewhere in the region. and when it comes to our european markets, we're hanging on to those gains as seen here across the board. the main indices still higher. the ftse up just shy of 2%, helped along by some of th banks. but it's really a broad-based rally we're s

governor kuroda play down easing. data out this morning showed exports fell in december while the trade deficit narrowed although -- because of the energy cost. let's talk a little bit about what is happening here. a mixed bag in terms of the data. how will this affect us looking forward? when of the key points in the trade data is that exports fell again. this is a negative outcome of what is happening in china. japan being china's biggest trade partners, there is concern how much china's slowing economy will be impacting shares in japan. there are a lot of companies that have been increasing their sales in china. this will be a concern. looking to the boj, whether it will ease, it is something everyone is watching. the consensus seems to be all over the place. about 50-50 on -- among investors. a lot of people are not sure the boj can do anything. it is a global issue and china issue. theypeople are saying that are running out of bullets and there is not much they can do. investors will be watching carefully how the

kuroda recently said there's been no decline in japan's basic price trend. japanese stocks moved without a clear direction on thursday and ended the day lower. many investors were looking fard to the results of the boj meeting. others were concerned about the u.s. fed's announcement that it's closely watching the turmoil in financial markets and leaving its rate unchanged. for more we go to mayu yoshida. >> well, the fed's concerns about growth weighed on investor sentiment. but they're confident the boj will take some action on friday. so these worries have made buying a bit choppy. we saw the nikkei move higher then dip below the 17,000 level. it closed just a touch above that line. the broader topix lost .6%. stocks have especially lost momentum in the afternoon as more market players started taking wait and see stance ahead of the boj's announcement. now since the fed announced its rate hike in mid-december, the nikkei has dropped. if the boj decides not to ease this time, there's a risk that japanese markets will go into a tailspin. on the other hand, a

he'saying tees market but on said mart plars are sort o disapinted becau theyanted to hear rerom kuroda about the recent markets. >> my ewayu, thanks. >>> the shanghai composite closed at 3.2%. chins bank has pumped about 60 billion ahead of the new year ex next month. but investors seemed to have shrugged off. jirts over the slowing chinese economy ntinue to weigh on sentiment. sydney bucks the trend. s&p/asx 200 rebounded from yesterday's 2 1/2-year low. a rebound in copper prices. seoul's kospi sagged to 2.3%. hong kong's hang seng was drag down to losses in china. it ended at its lowest level since 2012. >>> >>> global leaders meeting in davos, switzerland, to attend the annual meeting of the world economic forum. one of the main topics is the faltering chinese economy. nhk world joins us live from davos. masa. >> reporter: hi, gene, the status has been marked by global markets from china. wondering what's behind the country's slowdown and how it will perform this year. the world economic forum is echoing these questions on china. one entitled china's, the panelists argued china's r

kuroda played down the impact of recent market turbulence on! japan's economy. interest rated policy will proceed as planned today and tomorrow. so far participants unable to aend in person can take part by a video conches. offices were closed yesterday following a severe winter storm which disrupted travel in the region. china's plan to slash crude steel production capacity could eliminate 400,000 jobs. that is according to a state run industry consultant. that comes after china announced it would cut production up to 150 million tons without specifying a time frame for the ove. from the bloomberg "first word" desk. manus: let's get into those markets. we have dropped more than 5% in the shanghai composite. oil at $30. the markets have huge positions, for put options. anna: the shang zen down the most. 5 danny 9%. -- 5.9%. caroline? caroline: quite phenomenal moves again. .tocks at sky-high levels volatility up again. we saw the initial rally yesterday phased. down comes oil. below $30. $29.58 if you're looking at brent. it really is showing such similarities w

now it's kuroda saying two-thirds of government bonds still not bought by the boj.here are no limits to policy. many ways to strengthen the program. that's why futures are up. >> worldwide coordinated stimulus when actually, of course, it's patchwork coordinated desperation. >> it's amazing. >> uncoordinated desperation. >> so draghi by any means necessary and kuroda, there are no limits. >> i mean what these guys are saying, i know there are a lot of people who hate to hear this because it's solid logically poor from this government's hands off. you've got china buying shares of stock, japan saying they've got a lot more weapons. draghi saying anything they want, they can do and you have the fed being silent. they're in a why period. you don't have a fed government on the tape like we had bill duffy last week saying all systems go. there are two places in the world that are raising interest rat rates, brazil and the united states. brazil to control inflation. i guess us too. >> it's amazing. there's the s&p at the bottom of your screen and down here at the big boar

a lot of there's pressure for kuroda to do more longer-term. that monetary policy is going to work. but does he have one shot to get it right if he goes to town, or can he do it in several bits? >> i think the good thing about japan is that there are several bits. it is one country -- yes, you can have a different governor, but there is no risk of breakup. but for the eurozone it is different. the more you buy time, the more you have people unemployed, and there are lots of different countries. then you could have a political crisis. in japan, it is more difficult to have a political crisis. they have a lot of savings. not so much for europe. tom: alberto, you are very cautious. if you read him day-to-day, he has never been more cautious. but within that, you say there are things to do. one is italy. that would be a surprise to a lot of our viewers. whatu look at italy's gdp, a story of recovery from the debt. but where does italy go? where does it get to? does it get to an american run rate? is that even feasible, or will it slog along at 1% g

kuroda also mention this. draghi, at the end of the i thinkt as i said, some of the central banks will try wearing inflation close to targets. no way that canada, that is a good point, will try to see through that. manus: thank you. more to come, at the top of the chair. ♪ manus: end of an era. apple forecast its first losses 2003. tim cook says conditions are unlike anything they had ever seen before. fed in focus. we get the central bank's first statement of 2015, setting the tone for the miles ahead. oil resumes its decline as u.s. futures slide. chinese stocks are on the off-again. welcome, its "countdown." time to get into the breaking news flow. let's talk about aberdeen asset management. we have the ceo -- we had the ceo here a few weeks ago, talking about their exposure to the emerging markets. billion, in at $296 and this is the view from aberdeen asset management. the outflows in the first quarter amounted to 9.1 billion pounds. aberdeen asset management, net outflows 9.1 billion pounds. this is mere

what governor corona is trying to extrapolate is that policy -- would governor kuroda is trying to extrapolate be clear that he remains optimistic. the inflation expectations are gradually rising. i am not sure it would bring much benefit at this point. the impact of another qe expansion in japan where they are running out of bonds to buy anyway -- tom: thank you so much. david goldman, thank you so much for plowing through the snow this morning. hsbc, and dr.ith goldman is with reorient. tomorrow, spencer rascoff will join us. we have not spent enough time on housing and we will do that tomorrow with spencer rascoff of zillow. francine lacqua, tom keene in london. vonnie quinn in new york. we will continue on bloomberg radio. stay with us. futures negative five, dow futures to -15. get out the shovel. it is "bloomberg surveillance." ♪ david: breaking news on the energy industry. news from one of the biggest properties, halliburton. meanwhile, rallies did not last. how long the turmoil is likely to go on. an emerging from isolation -- iran's president is in italy, where he has post session job

so kuroda said now is not the time for easing. carney from england said now is not -- tightening. now is not the time for tightening and draghi last week. i like what david is saying that it is not a great reason to build a rally, that because central bankers may come in and either do less tightening or easing, it is not the kind of fundamentals and the way the market has been trading with oil, i don't like that as a fundamental. what i like to see is the market go up or down relative to either the economic data or some profit forecast. when you see the market rally as it did on friday, because oil rally, that tells me there is not a lot of fundamental reasoning behind the movements of the market. >> i think we hear people leaning towards europe, simply because they think europe is going to be draghi -- draghi will be incredibly aggressive relative to the united states. you can still play one central bank off the other. >> i think -- >> recommending japan, kuroda will do more. >> i think it is a bad bet to say the feds having perhaps made a mistake is going to continue that mistak

potential disappointment by the boj, tomorrow, some people are expecting more to come from and his- kurodaleagues. by implication, next week's chinese data could disappoint again, holding the latest risk or rally in its tracks. the longer-term outlook is still determined by the central bank's ability to provide more support to the global recovery, and we still believe with that support a global recession will be avoided. against that background you still think the dollar could g10in the best-performing currency. so much.ank you we are going to get more answers to that question. is the u.s. recession bounds? that will be in today's special edition of "what'd you miss?" right here on bloomberg television. ♪ mark: this is "the european close." i am mark barton. betty: we have been trying to but the to get back up, dow is back in the red. the nasdaq struggling to hold on to its gains here. bloomberg's abigail doolittle has more live from the nasdaq on some big tech shares, including facebook surging today. >> lots of volatility at the nasdaq. one of the big bullish moves is certainly big tech

you think this guy has any idea what kuroda has going on in his mind? >> quye has reached gigantic proportions in japan. this is perhaps a more efficient way of going about it. europe has done extensive -- it's pretty bold. >> officials have raised questions about how effective some of these policies have been at actually igniting inflation. we are still not seeing inflation. europe has had a negative yielded policy for quite a while. yet we are not seeing gung ho inflation. the you think it's going to work? >> i think the counterfactual is the most important thing. what would it have been without qe? >> the negative rates in particular? >> i think it will be better than having no negative rates. it was a tremendously risky move. the bank industry is opposed to it. the insurance industry is against it. up for the overall economy it will be better than it would be without negative rate. they were speaking with the bloomberg team earlier today. for monday we have a conversation with fed vice chairman stanley fischer from the council on foreign relati

we spoke to governor kuroda, who made it clear that he is not seeing more deflationary pressures within the economy, but he is ready to act if something happens. simon: and i think he has to reassure the market of that. any action this meeting is unlikely, but of course in only a few months we had people saying it was possible we would get something at the end of the year. also, the central bank is having a big week, but that is a time of data. services --tion on part of this issue is the scare. people questioning whether the signals for manufacturing or credit are telling us something about the labor market it has an senior. to refute that is one way to stabilize market sentiment. francine: to the growth scare, we don't really know how to deal with political upheaval. the u.s. election, the risk of brexit, the price of oil. it's so difficult to call a bottom, but if you are central-bank watcher, how do you look at that? david: what the problem is now the is that there are so many risks. a couple years ago, europe was going to go and split, and that was a huge risk. now it's oil. it's g

haruhiko kuroda will be speaking to the public at 1:30 p.m.story of surprising the markets. but analysts expect using, they do not expect to be move tomorrow. alix: and the question is what they will say about things like oil prices, inflation, the slowdown -- that will be interesting. that's all for "what'd you miss?" ♪ john: i'm john heilemann. mark: and i'm mark halperin. and with all due respect there is a new sweater in town. hello again from our bloomberg politics studio. four days until the iowa caucuses. and there is a new early state pull out today in iowa for donald trump leading with 32%, of eight point for the same poll earlier this month. senator ted cruz is in second. marco

haruhiko kuroda plated down the impact of recent turbulence on the japanese economy.es pulling out of japan due to lack of profit. the company says all operations in the country will be shut down by the end of the year and it will continue to offer customer support. automaker to first react to slow sales in indonesia. last year general motors says it closed down in the largest car market. 24 hundred journalists around the world, this is bloomberg news. let's check in on how the markets have been trading, here is the bond. yvonne: market jitters before the central banks meet this week. we are seeing the nikkei to g5 , hoveringght now around those lows as the shanghai stocks fall 2% in taiwan stocks also falling 1%. at a very bigity high right now, rising about 80%. the asian volatility indexes close to those numbers. it had thrown a lot of money in theose heathen plays, shanghai composite is now raising more fresh concerns about this selloff. the bank of america is expecting another 30%. australia and india are shut for the holidays and we will see how rings go. ♪ emil

fueling the gains, a decision by the bank of japan governor kuroda to go with a negative interest rate strategy. is a bold move. he loves to surprise markets. it is at the cost of banks and their profitability in the intermediate term. betty: and as american express falters, mastercard and visa are cleaning up. how far can they climb? and we are about one hour away from the close of trade for the month. ramy has the latest. it may not be the worst january anymore. ramy: at least for today. it as we and the week as well as the month, and right now the dow is up by about 296 points. it had been pushing 1.96%, near the 2% mark. the s&p 500 also off of it session highs. toare looking to be on track lock in a second day of gains. i want to point out with the dow, 294 points. the seventh straight session of triple digit gains for the dow. some really interesting and a broad rally that is happening over the course of today. i want to take you on a tour of the dow intraday. we can see what has been happening ever since the market .as been on this trajectory the dow really has been leading the

kuroda will act, whether he'll further ease monetary policy. the nikkei was down 0.7%. stayed above the 17,000 mark, but still ended the day in negative territory. the nikkei now down 10% on the year in bear market territory. looking to the other markets in the region, we're seeing weakness in main land markets as well. the shanghai composite and csi 300 all ended the day in negative territory. shares in china now down 23% this month, taking in losses totaling 12 trillion yuan, this despite assurances that the market volatility is not a reflection of the real economy. back to you. >> thank you for that update. meanwhile, let's give you an update on where european markets are trading. it's been quite difficult here when we give you a picture in the mornings, it's not always a similar story at the end of the day. today investors digesting that fed announcement, taking a cue from those moves in asia. at the moment, we're off just about 0.2%. we finally decoupled the equity moves from oil prices. we'll see if that translates into the european session. at the moment, the fts

this is wipeout, kuroda-time. >> first off, let me say one thing. as far as dollar-yen, let us not lose sight of the big picture. it has come off massively over the last two years. a depreciation of approximately 30%. i think, or at least i hope, that these people have started to realize that monetary policy probably has reached its limit. and, ideally, they would like to get coordination from the fiscal, where this will get japan out of trouble. anna: thank you. he stayed with is longer on the program. manus: we will hear from several voices within the fed. first up, boston president gives his economic outlook. anna: then we hear from chicago fed present charles evans, and we get the central bank fed b eige book. manus: and you do not want to miss the interview with robert, coming up at 1 p.m. london time. bounces, and, oil crude recovers after a brief fly below $30 in late trade yesterday. that was the first time we've seen that, of course, since 2000 03. how many times will be asked that question this year -- will we ask that question this year?

.: that is what kuroda a lot moreere is not they can do.e seeing huge risk in japan from what is going on. one last point on that. you look at outflows with the fx reserves that china has the money have been selling u.s. dollar assets to basically keep and mitigate the currency, but as they start to sell the euro, which is the next largest reserve, it is a big divergence between the euro and the japanese yen. the applications for the further weakening, versus not that happening for the yen, is even worse. i am very nervous right now for japan. anna: very nervous about the economy yesterday, despite singing the achievements. what did we learn yesterday on the pound? it seems to get caught up in a lot of market volatility. richard: what is going on with sterling right now, we are seeing a really big shift in u.k. yields being lower so far this year. and i think that is playing into the currency. because we have sort of -- we have been on and off the liftoff for the bank of england. that is now a firm 2017 story. we have seen a lot of flows in

i think the 5-4 vote was evidence that kuroda got a lot of pushback to get this through. if this means now they're out of bullets with qe and this is their last hope, then i think this is a mess. i think this was a bad choice on his part. i don't think we're going to get a different result. >> ed, what does this do to the federal reserve? does it additional pressure for them not to raise rates just so we're not going in the complete -- going full speed ahead while bank of japan and the ecb are moving the opposite direction? >> well, as you pointed out in europe, opening comments, markets had gotten very oversold in january. >> that's what you think? >> and we expected that to generate a policy response. policymakers were going to try to lean against this because they don't want financial conditions to tighten so much that it further damages growth. so we saw the fed back off a little bit on its language. >> not as much as some people had been anticipating. >> we saw the bank of japan respond here. i think the ecb is going to step up asset purchases in march. so i don't --

kuroda raising the bar, mario draghi, the ball is in your court. betty: indeed.ow much lower can he go? back in the u.s., despite the rally that we had today, investors are losing more and more confidence in this rally. take a look at this chart and the s&p 500. it shows that it is taking longer and it is more choppy to come back from lows like we saw earlier this month. kind of made up our losses about 2% over the course of several days. back in august, look how sharp in twobound was, up 6% days. it is just an indication that investors are becoming less confident and they are not buying up stocks at such a rapid pace. ok, speaking about the markets, let's stay with the rally we are seeing, about 90 minutes into the trading session. i went to had to julie hyman with the latest. julie: we are rising to the highs of the session in the united states, and in the week on an up note and maybe erasing some losses for the week as well. all three major averages are trading higher. some stocks contributing most of the game in the s&p 500. it is a mix of earnings and a come

president kuroda of the bank of japan says he wants to support in any way he can, so the government and the bank of japan will be working in tandem to enable the economy to completely break free of deflation. time is starting to run short, so this may be our last question. mr. nanao? >> translator: i am from niko-niko videos. the lowering of the voting age to 18 that means in this year's house of counselors election there will be an addition 2.4 million new voters at the same time there's a growing gap in the percentage of older voters who get to the polls. what is your feeling about the need to fully explain to the general public the further and future policies of the government and the reasoning behind them? >> translator: in the upcoming house of counselors election, 18 and 19-year-old citizens will be voting for the first time. they will be casting their first historical vote, i think we can say. i hope that they will go to the polling places fully sensing the importance of this fact. at the same time as you noted, the reality is that voter turnout among young people is low. for you