the rba decision is kyrgyz air. what are you expecting?coming on tuesday. we have had a strong increase in the value of our dollar, andi increase in the value of our dollar, and i think the rba is realising we have inflation under control, and it will stay at the 1.5 market has been held since august 2006 and. peter maguire. hong kong's skylight is being marred by enormous piles of rubbish. you can see that of the screen. they are growing at a rate of 2000 100 tons a day. china recently banned imports of many different kinds of solid waste. as a result, the recycling business in hong kong is losing about $45,000 a day. the grains are not moving at this port in eastern hong kong. mountains of scribes are piling up in locations around the city. —— that cranes. hong kong isjust one of the places around the world that sells waste viterra to china, where it is then recycled. the us in the uk are two of the other big sellers. but this has been a picture since the ban was announced. with no one to sell two, 2500 tons of waste paper is piling up i

it raises questions about the rba -- r.b.i.'s forecast.lobal news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. summers.ica this is bloomberg. we have been keeping our eye on how the banking shares have done, and the bank earnings. jpmorgan and citigroup kicking things off. bottom line,the which would normally spell good news. there were big concerns within these bank earnings, in particular on the consumer front. delinquency seems to be on the rise. that has some concern to there is risk out there we have not priced in. yvonne: it was not all that bad if you look at the other factors the lenders were managing expectations well, meeting what we saw in actual numbers. the question is, is this the buy, boom or sell? betty: we have seen that pattern before. let's bring in allison williams with more in the earnings we saw. what did you make of jpmorgan in citigroup? was cars. focus today keep in mind, these are the two biggest lenders, in terms of their overall portfolio. much bigger share of th

dollar after the rba kept rates unchanged. tracy? tracy: let's take a look at what is going on in the middle east, starting with oil. both brent and wti treading water but they did have a sharp fall overnight. we are going to be digging into those price moves. take a look at what happened in terms of gulf equities. edx index was the big story, bringing it to its highest level since february. lots of stock specific stories driving that outperformance. title -- thee tadawul was up. dhabi, we dobu have a big story in the debt market. if you take a look at the chart behind me, you can see yields on abu dhabi bonds, they are moving upwards, that is because we are about to get a hold a lot of fresh supply, up to $10 billion worth of new bonds will be sold into the market by abu dhabi. that is hot on the heels of the 12.5 billion sale we had from saudi arabia just last week. let's head over to debra mao. tracy, a new survey shows prime minister shinzo abe losing some support ahead of japan's snap election. the poll has the approval rating f

the rba meeting is going to be big, too.en just over half an hour from hong kong after yesterday's blaze of equity markets. better at the open, who than the head of farmington equities in asia? he joins us in about 10 minutes. not just hong kong, but the wider spectrum, chinese reforms, the 19th party congress. he has also got some esoteric advice. ofave accused him on air working for the public relations department of the chinese government. but he has some very interesting thoughts and knows his stuff. talking about the rate decision as well, national australia bank , david duke harris joining us from melbourne. no change expected, but what are they doing at the moment? according to some people, are australian leaders asleep at the wheel? i will be asking david about that. and andrew sullivan talk to us about wynn as well -- talk to us about mifid ii. you have been talking about that. yvonne: indirect links to asia. rishaad: all coming up. betty: a locked in, looking forward to it. that is it from "daybreak: asia ." "bloom

not a great deal of change from the rba. bias from the statement, either.hanged at 1.5%, not a lot of difference in the statement. angie: thank you. that was paul allen bringing us the latest on the rba. let's check on the market. sophie, how is the aussie dollar looking? sophie: it is trading near -- ion lows, ♪ this is "bloomberg technology." i'm emily chang. vanity fair summit is underway in l.a. it is an event that aims together the biggest names in tech, media, business, and politics to talk about issues and innovations shaping the future. on sunday, the new establishment list was released. a number of new names joined the most prestigious names in tech. joining us from l.a., jon kelly. i will be seeing you for the summit tomorrow. let's talk about this list. a lot of newcomers. who are the notable additions this year? jon: our list is different. it is not algorithmic. it attempts to measure influence. the list was going to have to change in the trump era. i think you will find names that would have been surprising in another year like robert mueller.

australia, no change in the rba yesterday. notng currency, appreciated, they say.t weakness did not last too long. still recovered, above the 78 handle. in japan, earnings coming through. japanese carmakers in focus, 112 .43 for the japanese yen. taking a breather here. we are looking to a slightly modest gain after the tokyo open this morning. markets remain closed, for golden week. no trading in south korea or taiwan. toty: we certainly are going be watching markets who are closed and how they are reacting. let's get the first word news with jessica summers. he says there is no chance gary cohn be the next fed chairman and no chance donald trump will allow janet yellen to stay on. speaking of the "vanity fair" summit, he says he thinks neel kashkari will be handed the job, which has made headlines. he has been critical of the fed's rate hike policy this year. coming up later, tom keene has a conversation with stanley fischer before his departure from the role. at 6:30 hong kong time, 9:30 in sydney. uber directors said to have approved a softbank investment $1.25

the rba came out this morning. they went straight for the jugular, straight for the fx line.lar keep strengthening, we are going to have problems. they had gone to fx intervention. geoffrey: that has been the case . yearba started off the awful. doing better than and with australia maybes a china proxy, --ectations i think the rba is going to make its mark as well. anna: one of our colleagues in australia wrote an industry piece about how the years of growth has hidden a need for fundamental reform and that economy. is that something you would go along with? . need for reform it has been pushed aside because of the growth from china. , and the productivity car manufacturing sector, how things have changed their. markets oroped and not letkets, immigration top that. that is imperative. that is how the sustainability of growth will be judged. it is more investment driven. the flexibility they are showing for the requirement, it will add liquidity. move by the reserve requirements, what does it do to the china story? the china exposure you want to have? how do you do things in t

you could make a similar point about the rba dilemma and what they need to do. banks are using low tolation to pass the buck regulatory authorities to do the hard work for us, but the longer you hold back from actually doing something which will slow your pace of credit expansion, and that means raising rates, snapback will be when it comes if you get it wrong. the longer you delay that come of the greater the probability of getting that wrong, so early action is better than no action at this point. putting thisl be question to the atlanta fed president, but where is the inflation? does it matter? it doesn't. i don't think inflation matters at all. i would not be in the majority, but i don't think inflation targeting is the right way forward at this point. it served a useful role when inflation was five. you could also argue inflation was coming down anyway. right now is inflation targeting the right measure? is 2% the right number? i think probably not. look at the relationships. 1% is probably a sensible number. haidi: thank you so much for that. , the chief e

the rba reiterated that growth and inflation may be slower if the currency keeps rising. the u.k.oreign secretary boris johnson has insisted he is behind every syllable of theresa may's brexit plan, walling into line after a succession of challenges to her authority. after criticism from conservatives at the parties conference, the leadership contender said he is supported -- supportive of her speech in florence. treasury, the department is backing the plan. >> we all agree on the two years. there needs to be enough time for companies to prepare and the government to be able to prepare, but we need to give in -- and date. it is important to say there will be a transition, but an and deal so people know we are leaving the eu, which is what they voted for. mps in strasburg will set the focus of talks with jean-claude juncker and michel barnier. on aps will vote nonbinding resolution setting out the recommendations to the eu 27 summit in brussels on october 20. parliament's chief negotiator will also hold a press conference. global news 24 hours a day, powered by more than 2600 journ

it is a tricky one for the rba. the aussie dollar remains high, it weighs on growth.the aussie down to 70 rather than 80. the short-term there are technical factors around the 200 day moving average that might see further declines, that pits the aussie against the u.s. dollar. at the moment, that trend seems to be lower. kathleen: let's look at chinese markets -- but come banks trading in hong kong that are having a very strong run. we know that has something to do with china. these are really the big chinese lenders that are listed in hong kong, the likes of icbc and big names. remember that banks have been an underperformer this year. thepickup we have seen over past few days is interesting because it begs the question as to whether they can gain that status. dive into the bloomberg and have a look at a chart, it encapsulates it nice, g #btv 5019. what this does is it shows us the last time icbc had such a huge move. that stock was up 7% on tuesday. back in 2011, this is the start of an easing cycle. i think at the moment, analysts are less optimistic about the situ

could be a case for the rba tightening. the kiwi dollar is under pressure, dropping 1/3 of a percent as investors are anxious over the government's left-leaning policies. uan moving 2/10th of 1%. stocks have swung to losses, leading to 1/3 of 1%. it is utilities weighing the most, 2.3%. nuclear operators are being dragged lower by the government scrapping plans to build new reactors. i want to highlight samsung, eking out slight gains. it has been a driving force in the stock rally, along with tencent. shares have outpaced the index. ,ou can see the line in blue global tech shares. the health of tech players will be in focus. apple due to report on november 2. they are hinting at tepid demand for the iphone 8. that is going to be a key item to watch. rishaad: thank you sophie. let's turn to the question of u.s. fiscal reform. with that and the rest of the first word news, here is paul allen. paul: president trump made a gop senators encouraged to pull ahead with tax plans. house and senate republicans crafting the plan comp

that is the bottom of the rba. commodity prices increases, a stronger increase cannot be ruled out for cpi. that is causing them to forget about a run. we had quite a few levels of resistance, the 50 day moving 4verage among them at the .797 level. a quick check of aussie shares. the benchmark gunning for a run at 6000 points, rising a second day, gaining zero point 2%, led higher by materials and energy stocks. financials up 0.33%. the late-breaking scandal. companies seeking talks with come -- industry regulators. there are talks thursday and friday. betty: the earnings season in high gear around the world. donald trump reigniting the next fed chair. toomberg news has learned janet yellen may be a stronger candidate than previously thought. kathleen hays is here for more. she seems to have impressed donald trump. kathleen: i am not surprised. torres, heby craig has covered the fed forever, and jennifer jacobs, hats off to you guys. i love their beat on this story. advocate in's only the white house may be the per

we did have the rba coming out with october minutes.ual growth supported by low rates. the rba also saying that local and global economic conditions are more positive since 2016. taking a look elsewhere, we have stocks on the rise in tokyo and seoul as well as in sydney. the sydney benchmark rising for a fifth straight session. banks, miners, and energy producers leading gains for the market. even gold players are climbing despite softer prices this morning. show you rio tinto, trading at the strongest level since february 2015. the minor is on track for record iron ore, as chinese demand surges. producers climbing in tokyo. let's check out what is moving on the nikkei 225. sumitomo metro mining trading higher. stronger copper and nickel prices are a boon for the company. and kobe steel expanding -- extending monday's advance, rising 4.5%, even as the company is seeing financing problems in the long run. the big picture, the nikkei 225 is headed for an 11th straight day of gains, the best winning streak since the summer of 2015. for in

reported rba's harper is not rolling out a rate cut. looking to halt a three-day drop, led higher by miners. plenty of action in hong kong. the hang seng poised for the best week since july. this one leading that advance over 6%. there is a glaring drop in casino operators, sinking after the visit from china to macau disappointed, falling 5.1% in the first four days of the holiday. casino stock valuations are very high. any minor disappointment could fuel a selloff in the sector. that is your market snapshot. this is bloomberg. ♪ emily: welcome back to "bloomberg technology." netflix is raising its prices, once again. they will be charging $11 a month for its most popular plan. it is a 10% hike. the streaming giant is looking to pay for its budget for tv shows and movies. the market is reacting favorably to the news and shares of netflix have hit a record high since the announcement. joining me from l.a., and editor. what do you make of this news? >> a couple years ago, netflix put through a price increase. it was a little bumpy, subscr

rishaad: we have the rba coming out with an interest rate decision.ew tomorrow. >> i think they are so concerned about the domestic economy and we have seen things like coal and iron ore get taken to the cleaners over the last month, dropping dramatically. i think the rba will remain on hold and they will want to see how this evolves. plus, we are seeing some corrections and slowdowns in the melbourne property market. they will probably follow the macro route, much like the new zealand central bank, rather than starting to hike rates. rishaad: great talking to you. now, coming up, a man with a plan. president trump's top economic advisor breaks down the white house's ambitions. this is bloomberg. ♪ rishaad: the white house's framework last week was met with accusations that it was designed to benefit the wealthy. gary cohn says the proposals represent a growth opportunity with lower revenue to bne made up for. 1%if you can grow the gdp by , we can pay down $3 trillion of the deficit by a 1% change in u.s. gdp over a 10 year number. we are very excited

the aussie dollar 78 29 but the rba again, we're seeing the aussie dollar at -- missing estimates. pressure and that say the risks are anna: on the downside. this is a continued focus on spain. concern about spanish equities and spanish banks. we will get more details in just a moment from barcelona but a lot of questions and few answers about where this heads next. what will the next move be following what we have from the catalan president yesterday. this is 10 year government debt in germany. breaking news coming in, this is a business that is giving some comment. the group plans to raise $1.5 moscow in a london and ipo. it minds base metals. manus: it is controlled by [inaudible] when you have that king salman in russia meeting the saudi's and mr. putin talking on bloomberg on a panel talking about the oil market. london is the destination for an ipo. anna: some new energy with ace metals, natural energy and hydro and solar energy generation. really interesting as we talk about brexit and where they want to list. let's get a bloomberg update. >> kicking off with puerto rico fac

said steps to cool the housing boom have taken pressure off the rba.rs can absorb the affects of a currency that has climbed 9% this year. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. i am paul allen. yvonne: thank you. time to see how the asian markets are shaping up. the regional benchmark, .4%. the latest from sophie kamaruddin. the wind picking up given the optimism. asian stocks set for a seventh straight day of gains. ,ussie shares leading the pack holding onto that 5800 level. back to new highs, steel miners among the best performers. samsung electronics also rising, resuming gains for a fifth a of sixth. strongern won sixth session. south korea's record trade balance helping feel that appetite. weaker, bondslar climbing ahead of chinese people you data. watch chinese 10 year bond yields today. the highest level since 2015 and set to keep rising. take a look at the yen, sliding under pressure, the dollar little change following friday's drop. the nikkei 225 rising fo

'rba ia nus.oint wee ckn mite "volatile markets."about as we head into retirement. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products that allow you to take advantage of growth opportunities. while maintaining a level of protection in down markets. so you can head into retirement with confidence. talk with your advisor about shield annuities from brighthouse financial established by metlife. ♪ some things are simply impossible to ignore. the strikingly designed lexus nx turbo and hybrid. the suv that dares to go beyond utility. experience amazing. hi, i'm the internet! you knoarmless bowling.lt? ahhhhhhhh! you know what's easy? building your website with godaddy. get your domain today and get a free trial of gocentral. build a better website in under an hour. >>> check out shares of kroger, leading the s&p 500 right now. up a little more than 4% the company announcing it is pursuing strategic alternatives for its convenience store busine

the treasurer said steps to cool the housing boom have taken pressure off the rba. are not a and exporters can absorb the effects of a currency that has climbed 9% this year. >> i think it is right at the end of the day. it has found its level. , but they havete gotten astute of living with the currency. lower, andike it there are other reasons to like it higher. paul: global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. rishaad: qualcomm has stepped up its legal fight with apple, filing a lawsuit in china to stop the manufacture and sale of iphones. we are in tokyo. basics,et's get back to and that's what this lawsuit is all about. >> right. qualcomm is suing apple in the china courts, alleging patent infringement and asking for a ban on the sale of iphones in china and the manufacture of iphones in china. china is the biggest smartphone market in the world, but china is where all iphones are made, so it would be a big deal. it is early days. this suit has just been filed. it has not been discl

we set a record high on the 'rba ia mes and the transports wee ckn mont >>> let's get to the cme groupo and get the santelli exchange with rick good morning, rick. >> thanks, carl. jerome sni jerome schneider in person you're the perfect man for the perfect day. when i brought out the number at 9:00, 10:00 eastern, ism service sector was off the charts. best number in about 12 years. i know these are considered soft numbers, it's not kind of the quantitative number we get in other areas, but a lot of these softer numbers have been strong. what do you think? >> quite honestly, the market needs to pay attention because it shows an increasing trend toward positive momentum within the marketplace. we've seen that in terms of the recent data so we're seeing data and the fed expectations coincide in the market and they need to follow and accept that the economy continues to grow albeit at lower-than-expected trends compared to where we were in the past but still a t2.5% growth rate. >> animal spirits. underestimate that dynamic at our own peril. is does 3 1/2% growth possible? >> possible bu