what are the implications of that for the rba? i think that is one of the things that the rba will have to grapple with. they will need to have the near term forecast for the economy. they will likely assume that there is still quite a rapid snapback connectivity. that is what we have seen before. it has fallen about the same amount as we saw in the victorian extent the lockdowns. but from a much higher level. households have saved an enormous amount of money. $45 billion in the last year. you are likely to see households in lockdown receiving government support and able to keep spending at a reasonable weight -- rate. we can be confident that activities will rebound. this is undeniably a bump in the road and it will be challenging for many businesses and some households. shery: where does that put the inflation outlook? jo: obviously, we had that big headline inflation number for the june quarter, still impacted by covid policy, core inflation's running at 1.6% and anytime you have anything that has economic activity, it will hav

you can follow the latest reaction from the rba decision on our tliv blog.ant to quick check on tencent starting to pair some of its losses. spiritual opium, the gaming sector. manus: what electronic drugs -- online gaming for them, 32% of their revenue. social networking is 27%. coming up, it is all about the buybacks, the dividends. bill winters joins the team. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. (announcer) the core is key to losing weight, getting back in shape, and feeling good. introducing the aero trainer, designed to strengthen your core, flatten your stomach, and relieve stress and back pain. it conforms to your bo

it might bode well if you get the rba to taper off.dity coming your wa-- more liquidity coming your way. yvonne: the rally is continue but the aussie dollar has been in a tight trading range. potentially the rba could break that up. rishaad: we could see that to the downside. not the only central bank this week. we have thailand tomorrow, bank of england on thursday and on friday, india as well. we're 50 minutes from the start of the trading day over there. still looking at all of that and -- tech. david: i think we have some analysis coming through. on the bloomberg intelligence on tencent. we'll talk more about what this means and also the impact -- japan opens. this is bloomberg. ♪ >> from the heart of where innovation, money, and power collide in silicon valley and beyond. this is "bloomberg technology" with emily chang. emily: foursquare, and one of the biggest tech deals of the year. square agreeing to buy australia's afterpay in a $29 billion deal. plus, crypto platform fire block, new funding, making unicorn status official.

the rba would like to taper.ng that shift, to move away from ultra accommodative settings. what is important is what the medium-term outlook looks like for the rba, the 2022 stronger picture. there's no doubt currently the economy is weaker than the anticipated. but we think they would like to taper. they want to look through this current weakness, and look ahead to higher vaccination rates, easing and restrictions and some return to stronger growth. as long as -- as long as vaccination rates continue to rise, there is a path out of this. they prefer to taper very modestly. that still lends support to the economy, but at least get some away that she gets them away from this ultra accommodative setting designed for a different time and a different recession that we saw last year. >> do you think the aussie dollar is at a level the rba is comfortable with right now? >> i think that is a really interesting point. when we think about qe and tapering for australia and reserve bank, a lot of it was around the currency,

as for aussie bonds, we are seeing them climb ahead of the rpa position -- rba position.onth after the reserve bank of austria decided to reduce bond purchases, researching virus purchases and lockdowns might force it to consider a u-turn on that. kathleen hays is a here with the preview. there is so much speculation about this reversal. we spoke with someone from ubs and he doesn't think it is possible they could do this. i guess from a communication and credibility point of view, it will be closely watched. kathleen: if you asked any central banker in the world, what is one of the biggest things you want to avoid, it is making a policy step and then having to reverse it. but this is still the age of covid and the pandemic and i think you can all understand why investors are thinking this could possibly happen. what we are going to now is a look -- this is a picture, let me set it up for you, about why people are concerned. the upsurge in infections they are afraid will hit the economy hard. this is the first meeting rba has held since new south wales, where sydney is, w

shery: what is the rba saying about these lockdowns? paul: at the moment, steady as she goes.d have the rba minutes out this week and it said the board should consider the case for delaying its bond purchases. those are expected to be pulled back to 4 billion a week by the end of september but the rba also said the experience suggests that once these lockdowns and, the economy bounces back quickly and that is the view backed up by some of the big thanks as well. very well-capitalized, very liquid. anz says the mortgage deferrals are only 1300 nationwide, which is less than 1% for deferrals they offered during the fiscal year 2020-2021. in the backdrop, we have a slowly declining vaccination rate. at what point does vaccination get to a point where the economy can reopen? there is light at the end of the tunnel, unlike there has been for other lockdowns. shery: paul allen joining us from sydney. the reserve bank of new zealand governor, adrian orr, stood by the central banks policy path. he signaled that this step will be taken by the end of the year. kathleen hays is here with

focusing on australia ahead of the rba decision tomorrow.eir exporters as wendi winters. many are experiencing tremendous operating conditions and double-digit price increases. the weaker aussie dollar is also supportive of these sectors. haidi: let's take a broader look. they downgraded their forecast on the back of extended lockdowns prompted by the spread of the delta variant. that put a pause on momentum in the economy. likely reinforcing the dovish guidance. hsbc reporting second-quarter earnings later monday. this is bloomberg. ♪ ♪ haidi: hsbc will report second-quarter earnings later on monday. asked her pressure on costs -- extra pressure on costs. what are you watching for? >> analysts expect lower revenue compared to this time last year because of a focus on cost. they did mr. cost targets -- miss their cost targets last quarter. also loan growth. in trading, fixed income currencies and commodities trading we down about 31%. one good news for shareholders that might come out today is prospects of a buyback or an in crease in that d

today's slightly hawkish slant, the rba still wants to be more dovish.g which will affect growth in australia. we also have a more hawkish tone from the new zealand central bank today cracking down on the property market. in other words, the new zealand central bank is likely to raise rates a lot sooner than the rba which means the aussie, the q. week, and the more vulnerable currencies in the coming weeks. anna: let's stay with fx. you have been focusing on the turkish lira. is there an expectation that rates would rise as a result of the higher inflation? what is the narrative? >> you are absolutely right to point out the irony of the inflation. i don't think there are expectations that they will raise it but that with inflation so high, the turkish central bank cannot afford to cut rates even if it would like to. investors are wary. the president said policy loosening may be possible in the summer. investors may still want an adequate political restraint to hold the leader. the authority may not do anything yet on rates. anna: good to speak to you. th

that rba is talking about tapering. and the rbnz, it seems, when you look at the tapering and the pricing of the kiwi dollar. it might even be priced in at this point in time. but we're still talking tech, quite literally a developing story when it comes to the narrative and the stuff we are actually hearing out of chinese media when it comes to gaming and tech, in fact, publishing the message, if you will. rishaad: we will get back to that just seeing -- let's look at how the tech stocks are doing at the moment. csi up. chinese equities to the upside. hang seng bouncing back after its decline. tencent, 3.5% up. happy barbara -- alibaba is healthier, but alibaba itself is down a fraction. a revenue miss and an overall maze -- miss as well. we were talking yesterday about video gaming being "spiritual opium." that is gone now. yvonne: electronic drugs. you start to see the tone from state media. they are walking back the harshness when it comes to how they described the gaming industry. this is what we have been coming t

'rba rhtwee ckig after this short break. ugh, these balls are moist.ght of self-awareness you now hold in your hands? yeah (laugh) keep your downstairs dry with gold bond body powder. ready to shine from the inside out? try nature's bounty hair, skin and nails gummies. keep your downstairs dry the number one brand to support beautiful hair, glowing skin, and healthy nails. and introducing jelly beans with two times more biotin. if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for only $70 bucks! only at t-mobile. sofi is a one-stop shop for your finances designed to work better together. save, spend, borrow, invest, and earn cash back rewards, all in one app. that's how you get your money right with sofi. >>> welcome back could america be forced back into a middle east conflict. don't count it out with all of the covid headlines recently it didn't get the attention it should have but earlier this week there was a deadly dron

aniabo rba conts inuer ou cove wrageitthh at part of the story. n cathe city do that? accordintog legal exrtpes, th e soablute we can, and toy da so mecity oyemplees received tice of intent to suspend r fo fag ilinto rtrepo their vaccine stus. >> repor ter:the first inthe coy untrtore quire employees to fbeully vaccin, atedthe city ofan s frciansco will also be the t firsto dole out pumenishntor f not reporting vaccstine at. us employhaees d tiunl august 12th toor rept eithr status to theirm pleroy. as oftoday, 20 veha not, d an theycod ulface spsuension all the y waup to terminn atioomfr h e payroll. >> we veha been epprar edfor th, sowe are t noconcerned abourst fit spreonders, but we noare t going to deviate fr om our requeniremtsto ensure that evciery tyem ployee is va ccatined, cabeuse not only does it im pactthe pe oplethat they work thwi, it soal impacts e public that they work . with >>reporter: ofpresr sorice of hastings sathys e city is in uannusual position, tiacng as bo ath public alheth authy,orit anand employ, erand atth the suspensions are totally galel.

sophie: we are keeping an eye on the aussie dollar, holding gains sparked by the rba, the economy sticking to its tapering plan, which was a surprise for many economists, although it did hold on rates, as expected. the rbnz may be likely to tighten standards. with the yen holding their a two-month high after briefly catching that 1.09 level overnight. the canadian loonie has tracked oil prices lower. checking in on wti, we are seeing falling below that. we have wti falling below the daily average. this as global demand is being clouded by the spread of the delta variant in parts of china, which has researchers saying it wiped out 5%. the company boosted a surprise boost to the dividends. here's what the ceo had to say. >> what you are seeing is a story of confidence, a story of confidence in the underlying performance of the business. 12 months on from when we laid out for your strategy, of course, the world is in a very different place from the environment -- 12 months on from when we laid out our strategy. shery: we have an alert on the bloomberg right now. the cbc saying the eviction ba

that is something the rba and other policymakers will watch. i want to bring in paul allen who will have more on this. we are just hearing a lot of people say that covid zero is no longer a reality we can get back to. >> that is right. delta has really changed the game. those days of zero cases seem to be long gone. getting this outbreak under control in sydney is a record. tougher restrictors -- restrictions are coming underway. masks are mandatory outside. people are getting very weary of this. police are trying to crackdown. they are issuing fines. there were huge protests in melbourne over the weekend. the silver lining to all of this is the vaccination rate is increasing extremely quickly. there were 45,000 shots give on sunday. that is about two jabs every second. here is what brett had to say about that. >> i want to think the residents of new south wales. i am advised that new south wales is now amongst the highest if not the highest in the world in terms of it -- in terms of evacuation rates. >> 30% of the population is fully vaccinate

haidi: is there a chance that the rba could make a u-turn on this? laura: yes.ven though our official call -- as you get more information over the next month or so around how long the lockdown's are going to extend in australia, the vaccination programs -- how lockdowns maybe continued. the rba will start to realize that going forward, the next quarter of growth will be impacted in the reopening next year will have a difficult path. from that perspective, they will be updating their forecast lower. we will move outside the central scenario where we don't think they will slow the tapering. they will probably stick with that pace. shery: this dtv chart on the bloomberg showing how bullish bets on the dollar have returned. what is the prospect of a greenback #laura: technically, --the greenback? laura: that is one that traders continue to push higher from here. they have been under pressure as well and we do see that will continue in the short-term but also dollar asia, donna correa is another one yesterday, getting a lot of attention in that move. a lot of model b

that comes on the back of the rba minutes and you bf also. australia but in china's case, the 8.5 consensus target for china and i imagine everything that follows from the is getting recalibrated at this point it is busy. super busy. yvonne: let's stick to what's been going on with the covid response. singapore has one of the best vaccination rates in the world with 70% of the population fully vaccinated. keeping the city stay on track to reopen borders. we spoke exclusively to the singapore trade minister about the reopening plans and plenty more. guest: vaccination has made progress. it is slightly ahead of schedule. we had planned to achieve two sets of vaccinations for our population. we are slightly ahead. we have achieved 70% by the time we reach -- we are hoping we will be able to cover 80% of our population by the end of this month. this will allow us to remain on track for our opening. but our opening strategy is not going to be a big strategy that we open a free-for-all. the inflection -- the infection rate could climb rapidly. whic

this is something that the rba is struggling with his well. i know you had the very pointed exchange with lawmakers yesterday. and is that still need to be on them macro side? >> i think it needs to be on the supply and housing. we can muck around on the edges of demand. financial stability measures are very stable. the systems will capitalize and they are very diversified. there is no financial stability issue. it is no other housing supply issue. we need to have the consumer cross and inflation. we need to see a supply response. and what i have been saying yesterday is that they are not reflecting that very strong slight. and that activity, with record highs, we say that house prices are unsustainable. given the demand and constraints, we see that not because of macro credentials, but because of underlying economic fundamentals. >> a lot of people were saying that there would be inflation situation. is the economy being deterred by lockdowns too many times? >> without a doubt, the single worst thing that could happen for what central bank is

getting a flow on the rba, coming out with a statement, looking hawkish and that double tales -- dovetailsthe u.s. jobs report. quite a range again. standard deviation substantial compared to normal times. 900,000, lowest to highest. a brief look at top names. top developers on the backs of curves in china. rishaad: and that ipo in indonesia and a big one in south korea. bukalapak means open a market stall. david: open up. rishaad: there you go. lots more to come in the next hour. stay with us. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditionin

if it turns out to be higher than expected and the fed or the rba poor bank of canada does not have taperinguld put it could put in a vulnerable spot. i agree, it is a delicate balance but that is why monetary policymakers are moving slowly toward the exit. specifically to manage that risk. matt: kelsey, thank you very much. greg: thank you for being with us. matt: we both appreciate it. thank you for joining us. greg? greg: we both appreciate it. great conversation. coming up, reviving talks with beijing to open the financial system. relations are not great between the west and china and anna ashton will join us. this is bloomberg. ♪ ♪ greg: this is "bloomberg markets ." i am greg burnell alongside matt miller. kathie wood is dipping her toes into the chinese stocks and she talked about that. kathie: i am not pessimistic about china longer run because i think they are very entrepreneurial society. sure the government is putting more rules and regulations in but i do not think the government wants to stop growth and progress at all. greg: these comments, the time when bloomberg news -- come

drawing attention to what the rba did recently, they specifically said that this latest wave in australias going to end in the upcoming quarter get no central bank wants to actually pin down a specific time for health conditions to improve and society to actually normalize, so in that context we are still in emergency conditions, and fiscal is fully with -- and until fiscal is fully withdrawn, they are still in emergency sections as well, and that makes it difficult. guy: euro-dollar, $1.1760. how much stronger does this get if the data continues to come in as it is? geoff: i think reflation in europe is actually underappreciated. maybe we should be agreeing on this if the so-called british experiment is going to work, learning to live with the virus. some corners of the chinese establish mature thinking about it openly. that means europe is probably going to follow the u.k. and enjoying this normalization wave in society heading into the german elections, it could work out right now, so euro-dollar actually has upside. taylor: that inflation has been a key theme, that global central bank

over in goldman they flagged the prospect of a potential delay to the rba tapering which modified the forecast for australia. they are sanguine, saying they are underestimating the pace of australia. they are optimistic on the aussie dollar. to pull up a chart, base metals on watch. goldman singling out aluminum and copper as the biggest beneficiaries in china's market in the fourth quarter. in the latest notes jeffrey curry and team saying you should focus on the micro fundamentals -- fundamentals, which should trump the macros. shery: such an important week for commodities now that we are headed to jackson hole. let's get over to vonnie quinn with first word headlines. >> the taliban say there will be consequences that the u.s. delays its troop withdrawal from afghanistan past in august 31st deadline. prime minister boris johnson pushing president biden to delay to allow more and safer evacuations of foreigners. the pentagon says u.s. military officials are in contact with the taliban several times a day to coordinate evacuation efforts at kabul airport. vice president kamala harris

we preview this key decision, particularly in light of what we saw from the rba and z holding as a results about the on the meant -- of the economic fundamentals of that lockdown. we take a look at what the delta variant versus a huge debt load the the korean economy is taking at the moment, how policymakers will play that one out. this is bloomberg. ♪ oomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. shery: the bank of korea could become the first major central bank in asia to pull back on aggressive pandemic driven policy. kathleen hays is here with a preview. i cannot really remember the last time i was this excited about a bok meeting. it is a tossup. kathleen: and besides that, if they move today, they will be the first a

you can register at 'rba rhtomvoe.lv wee ckig after this.castle - and greatest memory! but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa. well, that's the way the sandcastle crumbles. you can't beat turkey hill memories. >>> today's rbi is about the markets and about how right or wrong some of you have been and do not worry, we are not slamming you it has to do with the market poll from three months ago you may not even remember it and where we stand right now back on may 25th we asked which will have the best percentage return between now and the close of business on the wednesday before thanksgiving? we gave you four choices the s&p 500, gold, bitcoin or oil. well, today is basically halfway into the contest and it looks like 31% of you are going to be right. because you picked bitcoin it is up roughly 30% in the last three months the nearly 7% jump for the s&p 500 and the minimum rise for oil they don't even compare. and don't even talk about gold what do they say here, forget about

committee owns still got to give you that stock that bryn bought more of ahead wee ck bl.s ahead of theel 'rbas. ♪ ♪ ♪ ♪ at pnc bank, we believe in the power of the watch out. that's why we created low cash mode, the financial watch out that gives you the options and extra time needed to help you avoid an overdraft fee. it's one way we're making a difference. low cash mode on virtual wallet from pnc bank. ♪ you probably think visa is a credit card company, huh? ♪ but it's actually a network. ♪ connecting just about everyone to just about everyone else. ♪ it can open eyes with a cup of coffee and change minds on what makes a business, a business. and it is working to connect everyone, everywhere. so, meet visa. a network working for everyone. ♪ >>> we have a big week for retail target, home depot, walmart set to report. give us the low down >> home depot is the steady eddy, should be in everybody's port portfolio. it is a multi-year hold, but you do trade you know, i got into this, i think, january, a of the fourth quarter earnings report for whatever reason sent the stock down it became a grea

'rba ia mewee ckn mont icy hot. ice works fast. heat makes it last.erapy, so you can rise from pain. >>> welcome back shares of home builder etf are falling today after the nahb market index dropped five points kb homes and pulte are down about 5% diane oleic is here with more behind the decline diana? >> the issue is rising costs for materials which then means higher cost for the homes an sticker shock for home buyers. so builder sentiment drops to the lowest reading in over a year but it is telling. current sales conditions fell five points to 81. buyer traffic fell five points to 60. only sales expectations in the next six months was unchanged at 81 because builders know that demand is still high and hope that costs will level off. but the price of lumber has come down from the peak in may. but the price and availability of other building materials remains a challenge, including flooring, drywall and appliances and windows and new home prices are way up just about 56% of new and existing homes sold in the second quarter were affordable for the u.s.

they say the aussie yield is pricing a dour outlook with the rba cemented state accommodative given the backdrop of these virus outbreaks in australia. the dollar is holding gains as they are tapering. they are expecting a recovery cycle. that will likely be a headwind for emerging currencies. they are grappling with this, when the window for using this comes on. haidi: let's get to vonnie quinn with the first word headlines. courts thank you. the passage of a massive $550 billion infrastructure bill. cryptocurrency reporting the blueprints being blocked. that means the original language will remain. something that has been done by the cryptocurrency and investors. divided in administration back to the compromise. one of joe biden's top foreign-policy priorities, returning to the iran nuclear deal is looking less and less feasible. u.s. officials are reviewing their options after months of talks. meanwhile, tehran is finding ways to cope with harsh u.s. sanctions. the nuclear program is advancing. bloomberg news has learned the european union will not reimpose restrictions on non-essent

cb a questioning we could see a drop below 74, given the prospect of rba delaying the taper plans alongsidenese growth, which has a citigroup bidding against the yuan. you have the offshore remnant beholding below 68 this tuesday. there are signs of rebounding demand which has goldman bullish on micro factors like deficits which should trump headwinds. little change here after the best session this november for crude prices. they are seeing the underlying fundamentals -- the demand for commodities is being reflected in shipping rates, jump into an 11 year high. it's likely to keep -- it's the demand for a material car goes, outpacing capacity, also being kept high by covert disruptions. >> our next guest is maintaining his preference for japan. he joins us from singapore. if you are liking the cyclical flame, what is the risk of the numerous states of emergency that we have seen in japan actually pressuring that? >> it is true. it is testing our patients to some degree. we are heading towards 50%. the reopening might be later than we initially thought. the other interesting driver for the j

aussie dollar is so very interesting because it is being washed back and forth by perceptions at the rba has turned a little bit hawkish. even if i think those perceptions are bit overplayed. and those two currencies are pretty key for risk appetite, for proxies, with how sentiment is going. so although the u.s. volatility came back overnight because of the clarida comment, i think there will be a lot of concern spreading across desks around the region if the aussie and the kiwi stay significantly down today. also, interesting to see how the yuan reacts during the day again to the clarida comments and the prospect of a little bit more support for the u.s. dollar. shery: garfield reynolds with his take on what to expect in the market today. you can follow more on his lori and all of the day's trading as well under our markets live blog on the bloomberg at mliv . that is your function. you can get a market run down in one click. there is expert commentary and analysis from the likes of garfield reynolds and you can and out is affecting your invest in's right now. still ahead, the chip

then we had the rba minutes that were a little bit more negative.ese stocks are getting a real negative low point of today's session. this is the context in which the bhp earnings come in. francine: the other big news that just came out is bhp changing structure to a single primary listing. it no longer lists here in london. coming up, we look at your stocks to watch, including pandora. the jewelry manufacturer says it is paying dividends and share buybacks. we will have a full round up of some of the earnings news. ♪ francine: welcome back to the open. 10 minutes from the cash equities open. you can see futures, down 0.4%. we are seeing a little bit of losses in the futures after the s&p 500 and the u.s. yesterday with that a new record high. let's get straight to your stocks to watch with the dani burger. a couple things here and there. let's start. >> we expected them to have a loss for the first half. that is what they just reported, their first half earnings came to a loss of about 171 million euros. not surprising because they have had so many

rollout growth declines in covid risk but the economy is bouncing back by the end of the year with the rbaady to provide support at the outbreak does worsen. we see u.s. futures edging below this morning. nasdaq hit new records on thursday and goldman has seen earnings growth driving further gains for the stocks, boosting equity target to 7400. rest stocks widening the gap with agent equities -- asian equities, which have been lighting since march. -- lagging since march. goals to reach herd immunity happen challenged in some countries including thailand and singapore. markets are going for -- further. shery: but springing our next guest, who remains --let's bring in our next guest, who remains cautious on equities. joining us from hong kong, head of asian equities. always great having you with us. were these calls including the chinese markets when we continue to see the regulatory risk? guest: thanks for having me. good morning. i believe so. what we are seeing in the last couple of weeks has been challenging for asian investors. within the broader space and chinese stocks, we believe th

america, really saying it is very interesting we are seeing the delta variant take hold despite the rbang expected to begin tapering sooner rather than later. aussie rates have still outperformed. we are seeing upside about 10%. aussie dollar holding at about 73 u.s. inflation expectations and focus there -- in focus there. our next guest, and we bid goodbye to our very own david ingles. our next guest is with us. he sees taiwan and south korea maintaining good signs, and we will get to him now. andrew ferris. why these markets, and where? andrew: it's a mixture a very good mike rock in amaq's -- microeconomics. the trend is very good. in terms of your to date terms, gdp growth in both cases has been inching up very strongly. pmi has been ok. valuations are not necessarily very good. when you take everything together and shake it up, i like what i am see. i am not speaking just to valuations and metrics. i'm also bringing in reluctantly some gdp growth. for a very simple reason. that is that co-but has not finished. it is no good trying to predict things purely on forward earnings becau

the rba meeting this tuesday, we expect a reassessment of expectations.pected to do a u-turn when it comes to tapering expectations. rate hike expectations as well, no changes expected in the cash rate in tuesday's meeting given that brisbane is entering a three-day snap lockdown. most parts of new south wales and large parts of the australian population under lockdown. kiwi stocks up .25%. corelogic numbers coming through as well, we are seeing a pullback. australian housing valleys increasing 1.6% in july, slightly softer than what we have seen in the first seven months of the year. shery: right. for now, let's get to vonnie quinn with first word headlines. vonnie: finance securities regulators says it wants to increased medication and oversight with the sec after u.s. watchdog halt of the ipo's of chinese companies, citing improved risk disclosures. this came in response to beijing clamped on private industry after didi pushed forward with a listing despite reservations from china. beijing is considering whether booster shots are needed to protect vuln

the rba is giving the best case for tapering to kickoff from november.pect both consumer and business sentiment will bounce back once restrictions ease in australia. taking stock of the earnings season down and are, companies are cashed up. it has been a good dividend season. a number of firms focused on expansion or acquisition. haidi: putting that cash pile to work. let's get more. this company is in advanced talks to buy bhp's petroleum division. the deal would be worth just under 50 billion u.s., and it would make it australia's biggest oil player. we are drink farecast. -- we are joined by our guest. why is it looking to do a deal now, particularly well-being profitable? the pressure for bhp to get rid of its fossil fuel assets has been unbearable and is forecast to grow more in the years ahead. prices having rallied quite sharply in oil after that blowout we saw last year, prices back up to $70 a barrel level, it makes a lot more sense financially. it is understandable that they might be considering now as an up to full-time -- optimal time to get

the rba minutes this tuesday and the rbnz decision on wednesday.his cross as a no-brainer when it comes to the trade. he is still keen on countries that are trying to normalize policy. markets are pricing in for the be ok, which could happen to the korean you want -- which could happen. testing the 1172 handle. morgan stanley does not see it breaking above 1175 in the next one to two breaks -- one to next -- one to two weeks. uncertainty of who will form the next government. politics as well as virus woes have driven depreciation pressures. allowing broader em weakness in the face of fed taper chatter. shery: coming up, we have more on the latest ship crisis that sophie mentioned -- latest leadership crisis that sophie mentioned. this is bloomberg. ♪ vonnie: this is daybreak: asia. president joe biden has addressed americans from the white house as chaotic scenes play out in kabul where the taliban have returned to power. the associated press says at least seven people were killed as crowds rushed trying to board departing aircraft. the president s

this is something the rba is struggling with as well here in australia area i know you had a pointed lawmakers yesterday. do you feel the heavy lifting has to be on the micro side? >> i think it needs to be on the supply of housing. we can muck around on the edges of aggregate demand,'s financial stability measures are very stable in new zealand. the banks are well-capitalized. they are very diversified. there is no stability issue. more of a housing supply issue here in new zealand. we need to focus on consumer price inflation, and we need to see a supply response. we are very confident that that is coming and what i been saying yesterday is that house prices in new zealand have not reflected a very strong supply. the strongest simple since the 1960's in new zealand, construction activity. we say that prices are unsustainable at the current level, given demand is constrained. we see a correction. not because of macro credential tools underlying economic fundamentals. >> a lot of people were saying that we were in an inflationary situation. as the economy in new zealand overheating?

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