in sydney, all about rba decision day. a split decision expected whether we will see the start of tapering or whether we will see downside indicators. really expecting to see the impact of the ongoing lockdown across new south wales. nikkei futures looking like we will see another open -- we saw japanese equities extending their gains to a 30 year high. really increased expectations that the fed will be forced to delay the paper plan on account of that poor jobs report. s&p futures, we had the labor day long weekend. u.s. futures really continuing to rally. watching when it comes to the tokyo session. three of japan's larger firms to join the blue-chip. nintendo is one to watch in today's session. getting back to our top story -- rba expected to keep things unchanged at today's meeting. it could defer plans to paper bond purchases with the two largest states grappling with a cove at outbreak. what are the chances we are looking at? >> it certainly is a live meeting. governor phil lowe's since he wants to stay the course on

haidi: the rba meets amid a jump in covid cases. shery: in the fight to reshape japan's political candidates -- political land states -- clinical landscape. piercing u.s. futures muted at the open, this after the s&p 500 wavers on the friday session. we are in the midst of a labor day long weekend but we saw the weekend drop data. really taking a hit across asset classes. we saw the dollar fall to a one-month low. right now rebounding slightly but still after a two week loss, it week number cutting beyond the fed taper by year. oil prices fell on friday. they continue to be under pressure around the $69 per barrel level. put it into the context of two weeks of gains given hurricane ida still hurting u.s. oil production. it is really about those payroll numbers. really complicating the fed intention to taper by year end. if you take a look at this chart on the bloomberg you can see already the rate hike outlooks have started to ease from the june july peak. no wonder we are seeing support for the stock markets. the other chart on the

the rba saying 2024.anus: ok, i suppose we will know a little bit more when we go over the review, how hawkish they want the be at the start of 2022. let's skip over to qed land. -- qe land. where are we on the differential? you have been looking at the trade. juliette: we talked about the 10 year for the aussie peer that came off of highs earlier today of one to seven but we have seen the kiwi yield jumped to the highest. it was up at 2.01 percent. this as we see auckland -- new zealand come out of locked apart from auckland, and that is as you start to price in that we are not expecting interest rate hikes from the rba but will we see them from the likes of the bank of korea, the rbnz? the market seems to think that it could be on a path to hiking. tom. tom: juliette saly, thank you. central banks around the world are grappling with when to end unprecedented monetary support. juliette just laid out that brb inside, in terms of recovery, the delta virus continues to have an impact. the delta variant pose

i read this as the rba trying to aim for maximum flexibility.er pushing back the duration but still signaling normalization is the pathway. how does that reduce their ability to be able to react more quickly? >> instead of moving to not tapering from $5 billion to $4 might, and leaving open the option to changing their minds around november, they have made a commitment to not do anything to keep buying bonds until the middle of february. so, that is a commitment, a longer-term commitment, therefore they are able to adjust, or the fed saying they are not able to adjust soon or in the coming months. at the same time, the rba stated today the board considers preparing to adjust their bond purchase program on economic positions that look vastly different than expected over the next few months. it's adjustments further out. in some ways it does reduce the flexibility in terms of what they can do in the short term, changes in economic and health conditions. there is a lot of uncertainty about how -- can attract -- and reopen. >> the difficulty of bala

its decision day for the rba -- it is decision day for the rba.ay gives us a snapshot of the disruption to global supply chains. david: here we go. another day of gains across the markets. the nikkei very much and focus today on the back of some nice, round numbers. 30,000 the last couple of hours or so. also looking at some of the big names that are set to gain. we will see nintendo. getting included in the index. we shall see those up and running anytime now, if not already. the nikkei 225, around 30,000. an eighth straight session, the longest streak of gains going back to the start of the year. let's have a look at what we are seeing in south korea. a large part of the mci basket. a test perhaps again. as far as that index is concerned. haidi: japan, also the big story, and the rba, with another, how they will deal -- with another round of actions. the bond market they may perhaps be sensible to tapering. we are seeing downside, really flat trading when it comes to the staggered opening. we are also seeing a little bit of weakness on the aussi

jp morgan expects the rba will stick to its plan.estech say they could boost qe purchases and the bank has downgraded its forecast for australia's growth this year, up 2.4%. >> taking a look at the commodities space, the military has seized power and suspended the constitution in guinea, destabilizing the west african nation. that is a key source of bauxite, the key raw material used to make aluminum. joining us for the latest, this is going to have a huge impact on the market because this country is the biggest exporter of bauxite. >> that's right. it is key for africa and asia, it is a key supporter for bauxite into china, the largest maker of aluminum. more broadly across aluminum, we are seeing a supply shortage in china. smelters have been seeing power crunch issues. obviously there is the broader pers terrain-in the industry -- the broader push to rain-in the industry. it has the potential to drive prices quite high. >> what companies will be impacted? >> people like rio tinto, a major aluminum company. we had some chinese comp

the rba is buying more bonds now.here is a bump, they still need to taper and that is why we think they are likely to hold fire and stick with that decision they made in july two taper purchases by the one billion a week through september. rishaad: are we likely to get any growth forecast today? are we likely to find out their thinking for the rebound of the economy? how quickly could the economy rebound in the fourth quarter? >> we got a full forecast update from the rba the last time around. this time, they're likely to provide a couple comments that we are still flying blind. it will not be known how robust australia's recovery will be until we know when the reopening is going to be. there are a few factors that might make the recovery little less robust. we are likely to see the economy finding its feet again early in 2022. those are that this time australia will not be reopening into a covid zero. that is a different economy. we have only got two regions, the biggest part of australia's economy with covid right n

>> until last weekend i was expecting the rba would go ahead with this. string of strong data, and of course covid is a worry. this spike of covid cases does span into the thinking. we will probably see the discussion and other central banks. we have got to be nimble and flexible. if you see a spike in cases and there are risks of lockdown, they will wait until next month and go ahead and another debris. juliette: we thank you for joining us from singapore. let's get to new york and get the first world news with vonnie quinn. vonnie: chinese officials are to tighten the natural services industry. apo pc -- pboc debit a at the central bank will close loopholes in its fintech regulation and include all types of financial institutions, services, products and its framework. they also told a form that authorities will look into the foreign exchange markets division. a former japanese minister leads the race to succeed outgoing premier suga. they select a new leader on september 29. a survey gives the current and of japan' is a vaccine rollout 32% support i had

rba governor has pushed back against market pricing for early interest rate increases.iterated his expectations that a rate hike will not happen before 2024. >> i find it difficult to understand why rate rises are being priced in next year or early 2023. policy rates might increase in other countries over this timeframe, the wage and inflation experience in australia is different. what is happening elsewhere in the world does not apply directly here. tom: iain t. stealey, cio fixed income, jpmorgan chase bank is still with us. what is the read through from the commentary we had from the rba pushing back on these expectations of a rate hike in australia amid their own delta -covid concerns. to what extent is this a playbook other central b anks are looking at? iain: it is in line with other central banks. they are trying to go at length to explain that tapering is not the same as tightening, and they want to get through the process of winding down the quantitative easing program, and have a period before discussing raising rates. at the moment the market is pricing in a

many expected maybe the rba would pause on that plan yet they didn't.e australian dollar rise and then sink. what was the takeaway for you? >> good morning, anna. #s they have extended the 10-year bond beyond november. it was previously mid february. the australian economy has some key challenges. the g.d.p. is expected to decline this quarter. they also have -- are likely to tick higher. this means this rba won't be looking to raise rates until 2023 or even 2024. if you look at the neighboring new zealand, they may raise rates later this year. this means the decline in short-term, we have seen some weakness in the australian dollar. it is not going anywhere higher in a hurry. tom: that divergence between two relatively close neighbors of course. when we look ahead to the e.c.b. later this week, are there any lessons to be learned? what should we be focused on? >> the key focus for investors will be the purchase program. making progress on vaccinations and the economy and inflation 3%. it comes down to will they slow their bond buying? it sets up to a p

we will get insight from the former rba governor.more coming up in the next hour of "bloomberg markets: asia." stay with us. this is bloomberg. ♪ introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking skills with a top chef. join for free on the xfinity app and watch all the rewards float in. our thanks. your rewards. >> from the heart of where innovation, money, and power collide in silicon valley and beyond. this is "bloomberg technology" with emily chang.

aussie dollar is holding overnight losses sparked by the rba governor pushing back on bets for an early rate hike. the offshore with data earlier this morning. metals market very much on watch after the stumble we saw across the sector. watching copper, in particular pretty chilly has cut its annual price forecast. over moody's, they have changed their outlook for the metals and mining industry from positive, saying the pace will fade out beyond 2020 two. privacy iron ore falling to the $70 to $80 range. pulling up a chart, the consensus is the bok will continue the hawkish tilt. the meeting minutes we got this week. the recovery has been holding up. there basically is a rate hike for 1% in november, with an earlier move due to upside pressure on inflation. one bok member noting cpi may stay above target longer than expected in south korea. shery: let's talk about the inflation concerns in the u.s.. a slowdown in consumer price names. we are assuring investors the fed has waited to announce that they preplan that left many concerned. many think it remains too high. kathleen hays is here

watch the open when it comes to australia as well, given that we have heard from anc saying that the rbaill be delaying the reduction of one -- bond purchases next week. given the uncertainty over the lockdown, saying that that's going into the september policy meeting. they will choose to hold instead. nikkei futures, taco looking softer going into the start of trading there. s&p futures up by 1/10 of 1% after we saw a defensive tilt to the u.s. session with tech stairs -- shares gaining again. crude holding lower. when it comes to currency, range bound when it comes to dollar-yen. the dollar falling to a three week low. we saw the aussie dollar and keyway -- kiwi as the performers. opec-plus sticking to their existing plan to produce in october. super quick decision. less than an hour in a virtual meeting. su: this is in stark contrast to other meetings such as january of this year. we saw drawn out negotiations. this one was about 45 minutes tops. they swiftly ratified to 400,000 barrels a day for october. the swiftness of the decision actually gave some confidence to the market. we d

kathleen: that is a big number to watch for the rba and investors. i want to take a look at the u.s. adp payroll report. this is a survey, they have so many small and medium companies. people saw this weaker than expected number, a gain of 374,000. that is the blue line along the bottom. the yellow line across the top is the actual increase in jobs. the last number we have is july, the white number is payroll survey forecast. it is coming down from strong, 940,000 to 750,000. there have been some big misses, because there is a week adp number, does not mean that friday jobs report could not hit 750,000, million payrolls some people are looking for. haidi: the recovery in the labor market globally depends on how economies are handling the delta variant, lockdowns. it's going to be where other parts of the world are headed. in melbourne in particular, melbourne has had a strict resume when it comes to covid. we heard from the premier yesterday, it sounds like they are facing up to the reality of having to live with a certain number of infection. he is

the rba trying to strike a tone of flexibility.moving forward, but seen as a dovish taper as they push the duration out to mid february. let's get you to vonnie quinn who has the first word headlines. >> u.k. prime minister boren johnson -- boris johnson appears to have quelled a conservative already rebellion over a tax hike. this after announcing pensioners and shareholders would also take a hit to fund the nhs under reformed social care. all working adults will pay more. this breaks johnson's pre-election pledge not to raise taxes. >> most conservative governments -- no conservative government wants to raise taxes but nor could we in good conscience meet the cost of this plan simply by borrowing money and imposing the burden on future generations. i will be frank, this will break our manifesto commitment. but global pandemic wasn't in our manifesto either. >> house democrats unveiled key components of president biden's planned 3.5 trillion dollar bill. they are planning an expansion of the social safety net. it hasn't revealed t

also saying the rba expects to stop before reaching inflation goals. shery: a slower pace in consumer price increases, reassuring investors. many economists are concerned that inflation still remains too high. kathleen hays is here with a recap. it seems to be a win for the transitory camp, but a small one. kathleen: a small one indeed. were happy to see it continuing to move higher in a steady move, the consumer price index has started to pull back just a bit, especially when you look at the monthly numbers. those are the gold bars along the bottom. a lot lower than the 0.9% increase in june. in fact it's the smallest advance in seven-month. but the turquoise line move down year-over-year but it is about 5% for three months now, that's pretty high. in terms of the reopening, prices eased for things like used cars, prices shot up when people bought houses in the suburbs and suddenly need to buy a car. airfare and car rentals all look better. there's a lot of talk about taper and how things look but less pressure, a lot of people are speculating and pre

let's have a look at the markets , central bank decisions, rba minutes. the fed, could be a calendar rollover. as you pointed out, the decay, all flow for the day. the story across the currency markets, dollar strength with the dollar index at about a one month high. sovereign bond markets, 1.3%. we are steady across commodity markets after the 1.5% drop we saw yesterday. the rise of iron ore is steady today. big drop in copper. some of the contracts are right at about the cut off line. rishaad: we also have these property stocks, the hang seng, how the index has fallen to its trendline. you have to look at some of these companies out there, perhaps across these three red lines set by chinese regulators. liability, liquidity, leverage. we see companies which have liabilities claim higher than 70% of their assets, net debt exceeding -- short-term borrowing larger than cash reserves. all of this is lending to the negativity as well as the hang seng beaten down, reported that it is in bear market territory. have a look at how that has reverted to its mean. i

dollar given the rba's cautious taper plan.eing nikkei futures under pressure, continuing to extend declines after seeing its worst day in almost three weeks, the first time it actually fell in nine sessions and the japanese yen holding at around the 109 level. it has been trading at a really narrow range. we are watching for any headlines on the virus given that prime ministers suga extended the virus emergency there -- prime minister suga extended the virus emergency there. kospi pressures after a two-week low. we continue to see off flows from overseas funds. people really concerned about the fed taper, not to mention china's crackdown on the tech sector as well, which is one of the elements that sent u.s. stocks lower in the new york session. that is it for "daybreak australia." "daybreak asia" is next. this is bloomberg. ♪ (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (ma

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ia up of > 'rba ia up of minutes. and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com >>> eps came in at $1.60 but there was a miss on revenue coming in at 1.47 billion versus estimates of 1.a69 billion this is what we're seeing across the board. we saw it with lennar on monday. that miss on revenue because closings are not coming in as fast as expected due to supply chain issues the ceo of kb said while our third quarter deliveries were impacted by the ongoing industrywide supply issues and labor shortages, we are working through solutions to mitigate the issues and stabilize our construction times part of that of course jacking up the price up 11% to $426,800. deliveries though were up 35% just slower than expected. >> thanks so much for that down a couple of a percent financials, meanwhile, were up about a

austin slater delivers rba single, 1-0 giants. top 9, 1 out.ster posey, justin turner and a pickle, ends up on third with corey seager out. turner was tagged when he stepped off third right there and it would have been over, but , instead, two outs in the ninth. confusion. but chris taylor with a flare to no man's land. that scores turner agony. we are tied at one apiece. dodgers go up 2-1. brandon crawford base hit. buster puts it into fifth gear, scores. 2-2. another by posey again. a rocket to trea turner. will smith is pulled off the bag by that much. brandon belt scores for giants win 3-2 and take a one-game lead over l.a. game two is coming up tonight at 605 time -- 6:05. 80's would build an 8-2 cushion and then things went wrong after bob melvin pulls sean manaea, who was pitching well. toronto with a six spot in the eighth. grill junior with the grand slam that tied it at eight. stoic. top nine. two run homer. this is my house. 10-8, athletics. autumn nine. former a, marcus semien, three run the bomb off of sergio romo. walk-off. good n

'rba rhtfter this. feel stuck with credit card debt? ♪ move your high-interest debt to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪ in business, it's never just another day. an 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. >>> let the easy money train keep rolling stocks snapping their losing streak as the fed holds tight on its monetary policy for now. futures, they are higher it's debt deadline day for china's evergrande as the company's chairman works to calm investors' nerves we are live in beijing with the latest. it's day four of our special series "go big or go home" laying out some new stock names just for you >>> it is th

we could also have an rba decision from australia tomorrow, and we have the ecb thursday.rkets, looking at what inflation means for futures. this is bloomberg. ♪ and there you have it— -woah. wireless on the most reliable network nationwide. wow! -big deal! ...we get unlimited for just $30 bucks. sweet, but mine has 5g included. relax people, my wireless is crushing it. that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one upping itself. switch to xfinity mobile and save hundreds on your wireless bill. plus, save up to $400 when you purchase a new samsung phone or upgrade your existing phone. learn more at your local xfinity store today. ♪ guy: monday the sixth. labor day in new york. i'm guy johnson in london. welcome to "bloomberg markets." it is a quiet session. the u.s. is out. it is sunny outside here in london or get as a result of which, volume down by around 50%. the stoxx 600 is a little higher. i think this is probably post payrolls. there's a sense may be that the market is nine dissipating that we see a devastate for

. >> dan suzuki, rba advisers. tim seymour, you like these plays on the other side of the see-saw. what does it feel like in the meantime when rates are elevated and tech is the driver >> i think we had rotation in the market since may of 2020 but the banks are running back in may of 2020 and then they ran out of gas i think there's a lot of that going on i'd hold to, i don't want to oversimplify this but there really aren't a lot of other options for investors. to say we'll reverse this passive inflow of capital is the only condition in which you're going to see the entire market get toppled over to the extent that i don't think anybody's made that prognostication today, but i ultimately see a dynamic where it's all about the fed i know we've talked about the fed here but that's the only thing that's going to see this market and again a major change in fed policy, that catches the market off guard that has this market do the pullback that some people are talking about i'm not trying to make light of a dangerous day but i think that's where we are. >> dan >> i think tim makes a goo

brad: the rba had inflation, that was softer than expected.ess, core inflation between england remains elevated. in the rbi is likely to start tightening in 2022. the bank of indonesia, on the other hand, is continuing the purchase of its bond market. again, you have policy diversions between indonesia and india. that also represents opportunities within the currency space that will affect the bond market. shery: we are seeing large issue pipelines following that global trend this week. brad: yes, and asia is no exception there. between today and thursday, there is maybe nine or 10 deals priced in for asia, over $10 billion worth of supply, so very busy period for the asian market. there is a pecking order as to what comes first. we already had large singaporean banks -- dbs, indonesian suffering. the very large banks tend to come first. then we start to see more interesting issuers in the rest of the month. shery: brad gibson from alliancebernstein, great to have your insight into asia. thank you. of course, here in the u.s., we are also gett

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