that is his baby, by all accounts, and one of kuroda's key policies.n keeping policies flexible, adjusting what needs to be adjusted to keep the stimulus in place. he was a deputy governor himself in kuroda's first term, well-known and an expert in banks and banking. his concern with the extraordinary stimulus of governor kuroda is that it makes markets unstable and it hits banks in an printable ways. it could be a source of financial instability. in terms of where they stand, where mr. mme a stands, he is definitely did dovish -- mr. masayoshi amamiya. he is seen as perhaps being able to adjust more what needs to be done, but definitely in the camp -- you don't have any hawks at the boj right now. [laughter] haidi: i was just looking at that great visual and having a chuckle. i wonder whether a few of those baby hawks or hawkish dives might move a bit to that side. you talked about holding policy studyhow dovish or hawkish you or investors expect him to be, if he is in fact tapped for the top job? kathleen: certainly the markets have voted quickly, at

we are watching yen, huge speculation about who could take over from governor kuroda. the japanese government refuted that report, investors assuming the greater likelihood of ultra loose monetary policy enduring. and then we look at commodities. brent crude gaining a touch, .7% higher. and natural gas one of the big stories that we had this week was yesterday, the ban on diesel coming in from russia. cross asset, we not only look at treasuries but everything in between in terms of u.s. dollar, the u.s. 10-year yield 3.5449, and dollar 1236. after the jobs print, analysts are split on the data. for more, valerie tytel joins us. there was a great story by john authers looking at the economy, but what does this volatility tell us? >> it might point to the fact that the fed is unlikely to react harshly to just one data print. the data volatility especially when it comes to revisions has been notable. i've got a chart of the average hourly earnings revisions, in yellow is the initial release, in white is the revisions that came out later. i've highlighted the november prin

kuroda will be replaced.hat is expectation and your view in terms of how long yield curve control last? does it end this year? >> i don't think so. i know that many people are expecting that the yield curve control be abandoned this year in the market dysfunction still lingers. many foreign investors are looking for a higher interest rate is binding to the higher inflation rate going forward. at the same time, it is very challenging for the boj to complete his job in terms of target. i think being patient and raising interest rates -- will be the agenda for mr. euda when he is a governor for your we have to be patient about what might happen with the boj. francine: thank you so much for your insight. of course, someone who knows some of the people involved. that was kazuo momma. joining us now is william davies , global chief investment officer. what a day to come on, william. this is not dull. not as dovish as markets were expecting and they are freaking out at the margins appeared >> you are absolutely righ

-- kuroda's era? rie: thank you.t is the most frequently asked question in the past couple of days whether mr. ueda would be hawkish or dovish. i would say that he is neutral. he is academia. his decision is always based on theory in his framework. and also, he sees data so his decision for the boj's with him as a governor, the boj's decision is more data dependent and based on theory, theoretical framework going forward, so i would say that professor ueda is, you know, hawkish or dovish. i would not say that. he would be neutral, more data dependent, based on the theory. of course, i know what you are asking. the market is now looking whether the professor ueda will be taken more, you know, -- normalization. so we need to look at that inflation or development in the recent times. we saw that talk of cpi hit 4%, 3%, and also the monthly wages, the recent one is 4.8%, up. it's really clearly different from the past decade so even for him, he will think about the normalization for monetary policy. haidi: does that mean

first of all, kuroda up-san' -- kuroda-san's contribution to japan overall is kind of position, especiallye beginning. people's mind was very dark. say, at the end of 2012. and after the global financial crisis, and also the earthquakes, and the political confusion and the democratic party government. so the people became very pessimistic. so the big experiment made by abe-san and kuroda-san is probably what sent a big shockwave. the people's mood became a lot brighter. that's good news. but unfortunately the mood has changed a lot. but the changes in the real economy is not that large. the market benefited, but growth rate is the same as before. inflation is kind of positive, and therefore when the time passes, it will become more frustrated. annabelle: thank you so much for your time. that was the former boj executive director hideo hayakawa. rishaad: good stuff there. hideo hayakawa there, former boj official. let's have a look at the first word news. president biden pledging more military aid to help ukraine fight back against russia. the defense department saying it $460 million packa

he will take over from the current governor kuroda when his term expires in april.e are joined by a chief japan strategists and former boj official. as always, thank you so much for coming on. are the markets expecting to quick a shift in it comes to the bank of japan? >> it was surprising to us and we accepted it but as a nomination we are looking at it because of the uniqueness of the new style speculations and the successor to governor kuroda. with practical experience, how do you propose that. tom: how do you expect the unwinding of the yield curve control that so many investors now think is inevitable? how do you expect that to unfold in the months and quarters and years ahead? >> out of the yield curve control changes in the near term i would closely watch out once kazuo ueda takes the helm. we expect the government and the boj to have a joint statement of 2013 to be revised to align with the casino administrations new style. the dispute surrounding the boj actions should be a challenge for the governor. it be expected not to interfere with politics, and i bel

i think we saw the same thing when kuroda was appointed.e who would listen policy, and corroded did that. the longer he is in power, the less he will make his own decisions. at some point, yes, there may be tensions, especially when it comes to, as you previously said, raising interest rates. i think there may be tensions further down the line. >> always great to have you with us. we are continuing to see more commentary from this hearing. of course, su: -- of course ueda saying he would be well aware of the chief if he were nominated. we will continue to watch that and you can also turn to york bloomberg for more on this story. you can get that commentary and analysis from bloomberg's team of expert editors. let's take a look at how markets are reacting. >> it has been pretty interesting so far in the last 20 minutes or so since this confirmation started. in terms of reaction, we are seeing the yen, for instance -- it had been looking a little bit weaker. it is strengthening fractionally, and likewise, we have seen reaction going on in the

we are back to the pre-governor kuroda world. we are upward sloping. the front end is still negative, but the backend is up towards 1.7% yields. this looks like governor kuroda has done the full round trip and restoring his success of a functioning curve. what is the big exception? look at this kink. this is a more normal curve because over here the yield curve control policy. 10 year yields are complete depressed in japan. 7, 8, nine years which does not make rational sense. this shows the problem with boj yield curve control policy never mind that they own more than 50% of the market. it is distorted and not as normal as it looks at first glance. tom: thank you mark cudmore. head of the boj expected to change in april. we will see how that policy could potentially change. fed chairman jerome powell says the central bank may have to hike more than what is priced in if the u.s. labor market remains stronger. the dots pointing to 5.1%. >> this process is likely to take quite a bit of time. it's not going to be we don't think smooth. it will probably be

governor kuroda was very close to the economics policy as well. expect in the next few years under this governor and the relationship with japanese politics? tobias: that's a major difference we have to look for. kuroda -- they did not have a long-standing relationship but abe trusted him. kuroda carried out the policies abe wanted to see and they forged an effective working relationship during the time they overlap. kuroda was an important partner. now you have a premise or whose position is vulnerable. his approval ratings are not great and has not set a clear direction for what he wants to do with policy. so you have a bit of a vacuum when it comes to the governors approach but you also have a governor at the bank of japan who is something of a political newcomer who is not necessarily coming in with a strong agenda. so i think there is a risk you have the potential for drift and a certain lack of political coordination between the government and the boj. haidi: or a lack of political clout within the boj and government as well. he could find h

is he as dovish as kuroda? maybe not. he is a pragmatist. it is a hard act to follow talking after kathleen, but she has got it all right. very interesting change of tradition in terms of having an academic and that's always basically a boj career professional. this is the first time it has been a career academic. although they have spent time on the bank of the boarded japan. he is a pragmatist and he has a big challenge. one thing i could also say is that i would expect communication with the market to be a bit smoother. under corona he like to surprise the market. he thought it had a shock value and work for him. but in this case i do not expect major surprises and of course we are data-dependent all over the world. so it will be a tough job but he is extremely well-qualified. and nothing anyone in the g7 or his contemporaries overseas are going to question his abilities. so it will be smooth from that front as well. yvonne: how do you think he would be in terms of the normalization of policy. that will be a key challenge. what is it mean

he is very close to governor kuroda. you see this footage of them going into the bank of japan building at the last meeting in january where they did not do anything, they did not make any more tweaks to yield curve control as they did in december. the governor made it clear that is what he expects as has one of the deputy governors you saw also going into the building. you don't know if inflation well stay that high. in our latest poll it shows that amamiya is the most logical choice. another is the next closest. he has a lifer at the boj. he started their in 1979 and has held many positions before he took the post of deputy governor about 4.5 years ago. he is called mr. boj. he is expected to be in favor of keeping policy flexible for now. but he was one of the architects of some the major moves made under the governor coming yield curve control in 2016, moved to negative rates at the beginning of that year and he is one that is also considered as someone that could steer them through the markets. and a former deputy b

plus, japan's prime minister nominates kazuo ueda to lead the boj, after governor kuroda's 10 years at the helm. we are waiting for earnings news from norsk hydro. we have a number of companies reporting the latest results. through the day we will be speaking to the ceo of that company, or at least one of the senior executives in the next couple hours. there we go, norsk hydro, full year dividend share of 5.65 corona. -- krone. that is amiss in terms of dividend per share full-year for norsk hydro. we will speak to one of the senior executives, the cfo, on those coming earnings at 9:30 a.m. london time. let's check in on these markets and see how things are positioning ahead of that crucial cpi print. the forecasts are around 6.2% year on year for the january number for cpi. the focus on services, with the importance of the wage data as well, and how that factors in. we had that new york fed survey out yesterday giving a little optimism to equity markets in terms of inflation expectations easing. and expectations around wage increases coming off sharply, giving a boost to equities towa

garfield: as long as kuroda's head of the boj, you always have the possibility for a surprise.sually he has managed to surprise by doing what he was expected to do, but doing it in a way that nobody quite expected him to do. however, there was some speculation earlier this month that kuroda could try to set things up for his successor by introducing a wider yield band or some other sort of adjustment that could pave the way for normalization. it also raises the possibility of changing the target, making it five-year bonds instead of 10 year bonds. there are those left field possibilities. however, the way things have been developing, it looks like the preference is for kuroda to stick with things as they are and for him to take a very cautious approach. in particular, pointing toward expectations that the february inflation data which show a slowdown in inflation, which show signs that some of those pressures are peaking. if that's what the thinking is at the boj both old and new, it's hard to see a major change in that last meeting in march. dani: maybe he just wants one last

using huge resources over governor kuroda.ult to see how the bank of japan can deal with japan's difficult fiscal inflation problem. it is great timing to bring in somebody who is very academic who can actually do what hasn't been done into the governor seat. >> i just want to bring in our managing editor. when you take a look at the price action, it does seem like investors are bracing for a tightening but that is not going to happen anytime soon. class etiquette is very much a second half story. maybe not as dovish but it is not one of the hawkish candidates. yes, the deputy governors are a little bit more hawkish. i think he is going to be slow and gradual. he has been very measured. very smart in his comments. the one part is something that mark has fled. he loves surprising the market. no one is really thinking about that. it is a 10% tail risk, not a 1% tail risk. >> eventually, they will have to pull in the stimulus. trillions of yen out there. what impact will that have on the rest of the global markets? >> it is not m

they have had discussions about his succession over kuroda. the dollar yen is all lit up.ecause authorities in japan have denied that report. it is not stopping people from selling the end this morning. alexander, thank you for joining us. i know you initiated a short dollar-yen trade some months ago. does the possibility of a boj at the helm change that view at all? >> thank you for having me on. that is predicated on part -- in part on the boj. it is not only predicated on the boj. even if you took the boj out of the equation, we would argue we would see a stronger yen. we think bonds will outperform equities this year. in that environment, the yen tends to do best. japanese investors have been repatriating. >> many people are sending in those to danny and i. it is just delayed, not denied. the bond market will force his hand. >> we think so. when we look at longer-term valuations, they are above 130. this was a faster pace than the market was anticipating. u.s. raise volatility which kept the dollar elevated last year is now falling. the trend is low in the dollar. >> d

in ternms of major news overnight, the government of japan has nominated ueda to succeed kuroda as the governor of the central bank. the ten-year jgb is the upper level of the yield curve control range. there are views they may look to move way from the easing monetary policy. another stock in focus is adani. the adani group appointed the firm grant thornton. this is in the wake of the hindenberg research which led to $100 billion in market cap lost. it is a positive endorsement that they have brought on external auditor. >>> and ford will plan to cut 3,800 jobs in product development and administration the carmaker says it is in relation to cost pressure. that is up 3.4%. 3,800 jobs lost in europe is significant. brian. >> yes, it is. joumanna bercetche, i appreciate that >>> now let's get to the top corporate stories and headlines and what could be a big move off the federal reserve. silvana henao is here with that and more good morning, silvana. >> brian, good morning let's start with president biden because he is said to name a federal reserve vice chair lael brainard on the counci

you have the exit of kuroda and the new bank of japan governor potentially in the next few weeks. think the real risk is we see a sudden shift in policy, unlikely in the first part of the new governorship. i think if we see a massive shift in terms of policy, this is an academic coming in, an unknown commodity, we could see substantial change in equity markets, especially given the qe policy in japan the past few years. that could be considerable shift in terms of outflows out of japan. i think in the short term, it is unlikely we will see a significant shift in boj policy as we basically assess global policy. i think japan is still lagging substantially. that is still an early call to make. tom: before we let you go, i want to bring back your call around the correction, around and 20% correction for the s&p. where do you take shelter and how are you hedging? saed: i think the main play for us at the same time is we stay long dollars, we are looking to maintain long positions. we are looking to selectively be in high-yield at this point in time because we don't see a slowdown comi

japan has nominated kazuo ueda to succeed kuroda. it is trading at the top of the range with the central bank under pressure to end kuroda yield curve policy with core inflation at the highest in four decades and ueda has an uncertain path. the economy grew less in the final quarter last year with the growthat 0.6% against ex expectation of a 2% gain this puts pressure on ueda as he looks to bring inflation in to target we have jp ong with more jp, this nomination now comes as no surprise given the news that came throughlast week. the appointment of ueda was a surprise when it initially broke last week. what does this mean for monetary policy in japan? what is the path to normalization look like under his leadership >> reporter: those are good questions. the big question here is what will he do with the yield curve control policy will he abandon it or will he stay as dovish as his predecessors that is the question that ueda who has been a life-long academic and did serve on the board and was the dean of the women's university of wome

. >> kuroda says they are, nevertheless, paying close attention to the bank's fiscal health. >>> japan'sal services agency has decided to set up a framework to help startups raise funds more easily. an agency panel says the new system will let companies leverage their future business prospects as collateral, rather than having to rely on property. the firm's technological abilities and innovations will be qualifying factors. this comes as startups face difficulties getting loans from financial institutions. many don't own buildings or land to be offered as collateral. some entrepreneurs have no choice but to act as their own guarantor. the agency aims to launch the system in two to three years. >>> japan's two biggest airlines logged improved results for the april to december period last year as demand for travel rebounded. japan airlines says group sales for the nine months roughly doubled from a year earlier. in yen terms, to over 1 trillion yen or over $7.8 billion. net profit stood at about $127 million. it was the first time in three years the figure was in the black for the period.

>> we had one step under governor kuroda when he widened the band on the 0% target for 10 year bonds.t immediately went up to 7.5. i think it is a question of broadening the band on the tenure target. -- 10 year target. while avoiding the negative effects of continuing this policy is also avoiding the shocks of moving too fast. i think we have to count on him to pick up general approach, a modest approach. after she is appointed, he said the current policy will continue. he does not plan any setting changes in the monetary policy. that is certainly in line with governor kuroda who points out that next year they forecast that inflation will be down to 1.7%, which is not to percent, which implies they should continue the same policy. >> the opposite view is, looking at the examples of other central banks and how patients on inflation became a very big mistake, i remember this time last year we were talking about in the fed's case how we should distinguish between the balance sheet and the interest rate. does the pog -- boj need to be more urgent when it comes to inflation? >> i think th

i think his view [indiscernible] this could be a major difference from the current governor kuroda . he is an academic and not a bureaucrat finance official is that sort of what you need at this point to really take japan out of this altar easy, unprecedented policy? >> in terms of his career, he has been a very famous professor and has experience as a boj board member. it is very beneficial for the boj. definitely. >> what do you see as the biggest challenge and the biggest risk as he takes on this role presumably when he gets there? >> i think the biggest risk is -- ok. he appears to be concerned about the lack of flexibility. he also said the boj should prepare a strategy [indiscernible] -- a large shock to the economy. [indiscernible] in terms of economic impact on japan's economy, so compromise, there are so many factors. a bigger challenge i think going forward. >> when it comes to the broader economy we have had these pretty firm domestic demand, the yen has helped as well but we are starting to see some of the potential headwinds globally things easing, did you think it is po

kuroda has been trying this for over 10 years. up to 2%.is going to stay is a big question mark. so, i think the japanese government along with boj have to do a lot of soul-searching whether they want to keep the 2% inflationary target and the policy to achieve that. so ,i do think they'd probably need to do some adjustment on that front. rishaad: thank you for joining us from pictet wealth management. full market cap, a mixed bag as far as the trading session goes. pmi's earlier and the federal reserve. much right there at the front and center of things. this is bloomberg. ♪ online personal styling? what's that? that's stitch fix. ...and how can you help me? we do the shopping for you. you tell us your size, budget and style. wait, is it a subscription? no. style for me? for me? for me? always. we'll pick the clothes. you enjoy the great fit. stitch fix. introducing the new sleep number climate360 smart bed. only smart bed in the world that actively cools, warms, you enjoy the great fit. and effortlessly responds to both of you. our smart

no changes in policy before governor kuroda steps down.hange now to what we are seeing for the open in korea, we will be watching that because doc index very closely as we go through the day's trading. now trading flat, doing a little bit better than the broader kospi index create you can see that apple is still off more than 3%. one to watch, apple reporting a steeper sales decline than wall street had feared. it does show that impact of an economic slowdown. the supply chain snarls are still being worked out. we are seeing the korean won looking fractionally weaker. yesterday it did move its most in around three weeks. down to those expectations around the fed. those more rate sensitive sectors that are actually leading the gains so far. real estate and i.t. among them. energy is the big lag this morning, that is playing out what we are seeing with wti. it is trading fairly flat, really struggling to find a bid after the fed's recent comments spurring traders and to other parts of the market. haidi: adani's businesses, let's get back to

that is on the back of a newspaper that amamiya may succeed kuroda.king the trend. let's look at how bank shares are doing on the back of that report. the unlikely move by amamiya if he becomes kuroda's successor, that he will not expand the yield bank. jeffrey's banks are under a lot of pressure. it's a be she is down by more than 2% and mizuho also under pressure. turkish officials say a 7.4 magnitude earthquake has hit the country's thousand -- country's southeast. a reporter joins us from ankora. give us a sense of the damage in turkey right now. reporter: people are rushing to the scene. right now, hundreds of people who are here to save people trapped from the buildings. infrastructure has been affected by the earthquake and turkey is looking for blood donations. rishaad: give us a sense of what we know on the ground about buildings being damaged, the extent of where this was felt, and what the interior minister has been saying about it. reporter: the damage is widespread. it is unclear how many buildings have collapsed until now because it is s

david: let's not forget that governor kuroda has one more meeting to chair at the bank of japan, and market is attaching almost -- correctly of my -- correct me if i'm wrong, the ability that code will be able to do something. what do you think the chances are that we will get it surprised him before he goes? hirofumi: he is a man of surprise, so we cannot know but i think the chances are very small. the chances are small that he does something on march 9 and 10th. if he surprisingly removes the icc, the market will be surprised but my impression is the interest rate won't go up much. really, the rate is much harder -- higher than three 5%. eventually it will go near the 50 basis points. or somewhere around there. anyway, the chances are very small given the next one is assigned and he will be coming in to the position. yvonne: you know all eyes are on the possible tweaking of the ycc, but there are possibilities of ycc in the future. what form at that take? what are the options? hirofumi: ycc, he has said the past that if he removes the changes of the ycc, that should be i would exp

a seasoned economist is expected to secede corrode a -- governor kuroda.t blow to the crisis hit indian conglomerate a dummy, moody's as downgrading its outlook for some of the groups companies. the empire has lost about half of its total market value since a u.s. activist short seller released a report in january accusing it of accounting fraud and stock manipulation. the allegations were denied by the indian group. and finally for business, robots have come a long way all the way to your table. in croatia restaurant claims to be the world's first and only in great where all of the dishes are prepared by robotic cooks. five robotic hookers are busy and no human involvement is needed. as you can see there. other than loading the devices with fresh ingredients. restaurant owner says they can produce 100 meals and an hour well worth the investment of more than one million euros. voila! anchor: honestly that looks better than half the stuff that i can cook. reporter: and half the stuff that you can -- anchor: -- that you can get elsewhere. we won't see where,

higher longer, the deputy governor of the bank of japan has beena successor as the governor when kuroda steps down in april. he is soon as ultra loose with the policy that kept the yen weak and rates in negative territory and the boj managing the yield control with the specific ban and many in the markets were not too concerned with the successor as the next boj governor, we saw the japanese yen weaken past 131 against the greenback in the session and the exporters that gom dominate the nikkei. trading houses were among the gainers on the nikkei in today's session with the financials the only ones failing to stay strength with the rates lower for longer in japan. however, not everyone was convinced. today, we saw the bond markets that the japanese ten-year yield rose before giving back the gains. they alongside others actually were flat to the upside. perhaps a sign that bond traders are not ready to give up the challenge that the boj sooner or later will have to relax that ultra loose monetary stance. i'm jp in singapore. >>> and an earthquake in turkey and syria has killed several hun

we have kuroda as the twilight of his tenure. he is -- he has lost much of his potency and everybody is wondering -- we have these hearings at the end of the week that should reveal a lot on that front. some realization there is a severe risk if he was to go to hard to fast. that is part of what has happened with the yen the young got strong -- with the yen the yen got strong when his candidacy got floated and the press. it is a very tricky set of circumstances the bank of japan has. more than half of the bond market owns most of those key 10 year bonds that matter so much. it has been almost more often than not those tenure bonds have not traded. that tells you a lot of what you need to know about where japan's markets are and how uncertain the outlook is and because of that i would argue the likelihood that a waiter will when he has in parliament he is going to be talking a conciliatory gradualist game because nobody is going to want him saying i'm going to raise rates as soon as i can come may. that is not the situation japan

question this is the candidate that was not on most people's short lists for the likely replacement of kuroda if we look through the past, yes, he is a known economist and past member of the bank of japan, but not a lot is heard about his views in the very recent past. he has been publishing economic papers for some years. as you said, when we first heard this news, we saw the yen really pushing higher that was, i think, just because of relief. it wasn't going to be the candidate that the market thought it was going to be the current deputy governor of the bank of japan, who is a known dove the market is reacting on relief actually, you know, one point i really like to get across is that just because we have a different governor, the fundamentals of japan haven't sh changed overnight. almost irrespective of who takes the reins, they will be cautious they are still looking for signs of inflation that they are trying to nurture and not going to be too aggressive to beat back that inflation which has taken so many years to try and creep up i still think it is likely we get a cautious person at t

for stimulative policies, yield curve control, that the corona bank of japan is put it -- corona -- kuroda bank of japan has put in place. i am sure it was a shock. haidi: keeping us on the toes -- your toes. let's get more on how the markets are digesting all of this. let's bring in garfield reynolds. how do you gauge this? >> markets definitely, there are knee-jerk response was that this would be a hawkish decision. the yen appreciated, japanese government bond futures dropped on friday afternoon when the news first came out that it was likely going to be ueda. those comments kathleen flagged are a lot more nuanced. it smacks of wanting to be very careful, which is understandable. the bank of japan's assets are larger than japan's economy, so it has potential to cause a lot of problems. if you had somebody from the existing bank of japan makeup like others considered, presumably it would have been difficult for them to jettison the legacy but also difficult to argue that, for example, if the current policies remain appropriate, the favorite word of bureaucrats, then you need to keep them

example of one of the greatest masters of verbal intervention is the head of the central bank of japan, kurodaom 150 yen per dollar to 130 yen back and forth and, of course, causes rapture, er, without actually raising the rate. yes because it will kill immediately the japanese economy, but we will not go deep, we manage to move the course. this is called verbal verbal or verbal intervention. let me sum up this set of questions well, what course do you see for the country now. here is how the balance between importers and exporters, including for the state. yes, 75 is a rate, uh, which, well, about the average rate that we have observed over the past 7 years, which means that everyone is used to it. uh, business has adjusted to this , the economy has adapted to this, and consumers have adjusted to this too. lie voice of spring in the updated composition on friday on the first how is he? what do you remember the name of fatigue sleep bad to improve cerebral circulation of the brain , memory recovery, reduce fatigue and improve sleep, now i will not forget. from february 25, with discounts up to

jonathan: love this line from governor kuroda.ng for stable inflation. there they are for you. one more beating left. tom: did he mention matt luzzetti in his comments? jonathan: i think he missed that one. here's mike mckee. good morning, mike. mike: preliminary numbers coming in. we are surprised again. 192,000 jobless claims. that's a little bit weird given the situation. it was forecast to come in at 200,000, you mentioned that before the break. i'm waiting to see what the revisions are from 194 thousand. gdp has been revised as it always is. this is the second revision. 2.9% was the forecast, the original release dropping now to 2.7 as we lose some personal consumption. 1.4% there. apparently americans spent less then we thought in the first quarter. 2.1 was the original release there. we do get the quarterly pce price index up 4.3%, up from the initial release of 3.9 that does not serve us well for tomorrow. initial claims have not, i don't have the update in terms of, oh here we go, only raised 1000. so we are in a situatio

towards one of the big risks for asia on the table is what does the boj do once ueda takes over from kurodathe bank of japan. and at the end of the week we get him appearing in front of parliament, ueda, talks about what his decision-making process is going to be. so there are a lot of reasons for caution going forward, especially with, hanging over everything, the potential that the fed could sound more hawkish this week than it even did the last couple of weeks. shery: bloomberg's mliv contributor garfield reynolds. let's delve into the latest geopolitical tensions. secretary antony blinken warning his chinese counterpart against providing lethal aid to russia's invasion of ukraine. blinken also rebuking him over the suspected chinese spy balloon. huang called the u.s. response to the incident hysterical. for more, where are we going in the u.s. china relationship with so much tension in the air? john: garfield put it really well. this is not going to be an easy ride. tensions remain. one meeting is not going to solve that. really the outcome of that meeting was not that surprising. the t

what does this mean for the boj given that kuroda is nearing the end of his term?at the g20 meetings over the weekend and said his peers understand the need for the bank of japan to stick with its easing policies. now let's change. we are having the open from stocks in korea. we are seeing the kospi lower by the tune of 1% in the first few moments. it is down to inflation what that means for stocks. we saw foreigners getting nervous year in the kospi. in the prior week we saw outflows to the true -- to the tune of around $.5 billion, the first time we have seen that selling on this basis in 2023. the korean won likewise leaker -- tracking weaker today's training -- trading. the tune of risk aversion we are seeing in markets, we are still moving past the 1300 level. in australia again, the sentiment is being driven by more macro factors. we still have the earnings in focus. we are seeing woodside they're looking a little higher at the start of the day. we have an exclusive interview with the ceo later. it is australia's biggest lng producer that saw its highest ever

but could you give us a sense of what the best opportunities are in japan that did not exist pre-kurodau look geographically, there is a huge difference and corporate cultures in tokyo and outside tokyo. if you look at the cluster of companies based in kyoto, is a financial companies, new media companies, semi conductor companies, that corporate culture is catching up to tokyo which was at the vanguard in corporate japan for the past decade. there are fertile opportunities there. there reducing their cross holdings. shareholdings have been an issue in japan for a long time. they are getting more focused when it comes to how their portfolio business is constructed. we pay just as much attention if not more attention when companies are shutting down divisions as when they are acquiring. we view the latter as healthier. we see that across sectors. if you look at companies hiring, to national executives appointing independent directors, increasing diversity on their boards and improving their disclosures, this is going to lead to positive change. we are fortunate enough to be in position wh

march 10 is the last meeting of the central bank of japan for governor kuroda and then we get payrolls as well. max kettner joins us from hsbc bank. you came in and you dropped your call on equities have you changed your mind now after what we seen in the past few days? max: it is quite remarkable the bearishness that we have seen over the past few days. u.s. equities stand in a top spot. they have outperformed too much. compared to long dated real rates. compared to interest rate volatility. there has been a bit of correction and equity. we were pretty vocal over the past few weeks that whenever we see dips, we would rather be taking these opportunities to buy rather than throw in the towel. we look at other markets like the euro zone equity market, thus just a few tens of a percent away from the all-time high. things may not look good in u.s. equity markets but in other equity markets they look ok. jonathon: we will have 10 minutes to talk about ukraine. france is up 13%, italy is up 15%. how can that continue? max: it boils down to the overall economics and earnings outlook and expe

ueda would replace the current governor kuroda who has held that role since 2013 ueda had been not considered a leading candidate, but the current deputy governor was approached for the job and turned it down ueda said no decision has been made, but made dovish comments when asked how he would conduct monetary policy. he is seen as a hawk we will continue to watch this you will see the steep move of the dollar against the yen down .50%. >>> let's talk adidas. it could lose $1.3 billion in revenue in 2023 if it is unable to sell existing yeezy stock the profit hit could scrap the partnership with ye in october after he made the series of anti-semitic comments. adidas is assessing what to do with the inventory with options of repurposing the brand or writing off the brand entirely the company issued a dire forecast it expects sales to sink at the high single digit in 2023. it will expect growth of 4%. i'm curious for the folks in the audience and able here if you are a ddidas, do you repurpose? >> the joe sneaker >> do people buy it? that is the question i was having a conversation with my son

confirmed and he would succeed kuroda he has advocated for looser monetary policy. keeping the policy at the rock bottom levels. the shakeup could mean changes and higher rates in the near term >>> tesla workers in new york state are reportedly launching a union campaign the employees who label data for the auto pilot technology at the company's buffalo plant want better pay and job security and curbing workplace monitoring the workers told bloomberg that tesla monitors key strokes to see how long they spend per task the workers sent an email to musk with the intent to unionize this morning i also believe those helping with the unionization efforts, andrew, are the same ones helping starbucks employees and amazon >>> shares of palantir soaring after the first ever profit in thing fourth quarter it expects to be profitable. the ceo alex karp targeted profitability in 2025. our collective focus on ai with the natural language process is not misplaced. the demand for customers for the platforms has gained additional momentum with the significant part of the ai embrace

kuroda is doing the ultimate reflation experiment. how is it going? elsa: honestly speaking, it has been a long time and it is hard to see tangible effects. there is inflation in japan but we have seen across the world global supply chain issues and commodity price effects and what we see when that fades away is the underlying core inflationary dynamic which is stronger in some countries than it is in other. i find it hard to imagine a world where the u.s. is in disinflation and japan is seeing aggressive inflation that would require much higher rates. lisa: you are pushing back against the idea that next tuesday will be explosive because we get cpi and we get the bank of japan nominate and notes overnight are saying this is going to be explosive, especially for the pain trade people positioned in different ways. you disagree with that? elsa: cpi will be interesting. a huge focus on cpi in the u.s. at the moment. the bank of japan governor less so. for me the big change is not what is happening in japan but the rest of the world. the increase in hedgi