kevin: rbc capital markets, the biggest capital market division of any of canada's banks, big presenceld and a large presence in the u.s., and what we saw last quarter was a definition of investment -- a big decline in investment rate thanking revenue. there were not a lot of financing ordeals, but the big surprise was we saw a lot of the u.s. banks had their trading operation ride to the rescue last quarter, and that did not happen for rbc with trading revenue down 40% in the quarter. they also had a negative surprise with $385 million in march downs -- markdowns on debt securities they had underwritten for companies and were in the process of selling but got caught up in the big decline in debt market last quarter, so a rough quarter for rbc capital markets. also, a little higher position than expected for credit. the bank said everything was fine with credit now, they are strong, unemployment low, but they have these forecasts for economic growth coming down as central banks raise interest rates, so they are stockpiling extra capital in case loans go bad. kriti: that sounds like a l

subsequently, he also claimed that the rbc chairman change to result, the election result. th set the stage for four out of the seven commissioners to present a different press conference just before the final announcement was made. lastly, raila odinga accused the chairman of making a decision on his own and being a lone ranger, announcing the president-elect and giving the president-elect a certificate without getting consensus from the rest of his commission and these are some of the grants he will use to set the stage to go to court and asked that justice will be done to him. >> this is not the first time that odinga is disputing an election he lost. what have reactions been? >> some of the guys in the street, some of his supporters and others who are opposing him are saying that he did the right thing to call for peace and ask his supporters to remain calm as he addressed it in the supreme court but the guys opposing him, supporters of william ruto were saying they were tired of this rhetoric all the time with odinga losing an election and say that his results have bee

joining us is rbcs head of european energy research. how high do we go? how high do gas prices go in europe? >> i think europe has exhausted the supply-side measures it has. it is switching to coal, switching to oil. prices are as high as they need to go to destroy sufficient demand. kailey: on the subject of demand , europe has had a lot of conversations about rainy demand in and pulling back on consumption. how far does the demand restraint need to go if you have enough supply for those things to match? >> we published around a month ago. -- that is different across the continent. as you move further east you are more exposed to pipelines. germany is hit harder. if you're in spain or the cake we have more access to lng. you might not need to cut as much as 20% to 25%. guy: let's talk about the supply-side a little bit more. do you think lng will be a problem as well? at the moment we are still seeing quite a lot of russian natural gas. what happens if there is a problem there? i wonder what the next shoe to drop could be? >> this is one of the things we

tom: tom porcelli is from rbc capital markets.n absolutely brilliant study of the wage dynamics in the united states of america. i want to talk to you about what we just heard from david blanchflower, a linkage of these tumultuous times into wage growth is unfounded. give us your update on america's wage growth in this 9% inflation we are facing? tom: i completely agree with his assessment. people who are comparing today to the 70's, 80's are doing us a disservice. i think this has much more in common with the 40's than the 70's. i don't think this is some wage price spiral that the fed can impact. i think that effort will bear very little fruit. i think that that is hiking pretty aggressively into an economy that is slowing down. i don't know how that ends well. if their thought process is we have to tamp down on wage pressures, i don't know how much more you want to tamp down on those. in real terms, they are deeply in negative territory. i think very few people appreciate, disposable personal income, in nominal terms, from the

economist of rbc capital, thank you. it is the time factor that has the market having jitters. 500 down 5/10 of 1%. coming up, two of wall streets biggest banks say it is time to come back to the office. this is bloomberg. ♪ kriti: this is "bloomberg markets." i am kriti gupta a luncheon erlichman. -- i am kriti gupta along jon erlichman. sonali basak joins us now. sonlai: the communication was around covert requirements and that is lifting many of them. if you are in new york, there is still a vaccine mandate for most employees. but many restrictions of testing once a week or more, that will be lifted. also restrictions when it comes to isolations if you are a symptomatic. the banks had also previously given tests to employees that will now start to wane into the end of the year. jon: a lot to continue watching on the wall street story. sonali basak joining us. and on the wave of banks returning to work, the fda has cleared the use of covid-19 boosters to take on omicron variants. for more perspective let's bring in rupali limaye from johns hopkins university bloomberg school

rbc initiating it with outperform rating. the brokerage believes the u.s.get will exceed 800 billion next year that could help fuel growth of defense firms. today's "countdown" closer agrees with rbc and is all in on general dynamics. miramar capital senior portfolio manager max wasserman. you managed 125 million and like general dynamics. >> we do. if you look at the defense sector in general, people don't realize regardless in power everybody needs defense and at certain times general dynamics and the defense industry is very solid. marine side is the 30% of their revenue that is the virginia, columbia, nuclear attack submarines. that is ratio of go to one. they've the abrams tank and stryker that has demand in europe and there is a backlog. cheryl: politics play what you're talking about here, whether china, taiwan, ukraine, russia, do you consider those things when you look at a stock like general dynamics? >> we have been owning general dynamics for a while. we look in general it's a constant grower with earnings and dividends. we're a dividend investm

where the market is heading with rbc capital markets head of strategy and china bull ray dahlio sold chinese holdings. we begin as always with three things investors ought to be thinking about, skittish traders push stocks over rates and recession as the market is watching and wearing. economists and banking heavyweights meet at the jackson hole conference next week. walmart earning a new cheapskate economy. which retailers could benefit. $80 billion in new funding after beefing up the irs which should mean more audits and how to avoid red flags that could lead to an audit. on "barron's roundtable," ben levinsohn, carleton and glitch and jack hough. we had a nice bounce off of the markets but recently investors turned skittish, the rally fizzled. what is going on? ben: it has been a solid market, four weeks of gains for the s&p 500 and this friday hit. it didn't seem there was any one thing that caused it to fallen fed governors contradicting the governor and had recent economic data. it all comes down to tech bubbles. people talking about weird things like the 200 day moving average

. >>> rbc is downgrading two names. first up coupa software. moving to underperform and a $55 price target they called the stock disproportionately recession prone. docusign also falling, down 4% the turn-around path will be long and not helped by the lack of a ceo at the helm at the bottom rishi joins us now on the software calls talk to us about how you're trying to draw distinctions between companies that have taken the pain and downgraded their outlook and ones that seem like they might be more resilient. >> look, my approach is first we have our own frame for how we think about companies in a recessionary environment what's interesting across the board is companies haven't taken the lumps yet. we've advised all our management teams to do that but remember software is on a model and there's a long lag time between actual business and new business and when it shows up in your revenue numbers i think there is a lot of room for downward revisions i think the other thing is we talk to these management teams and try to think about how are they a

rbc capital markets perceived declining inflation? tom p.: we do. slope and you start to see slowing around the turn of the year at the core level. headlight is a different animal. we will see what happens with energy prices. our house call is they will be on the rise. we think they will wind up slowing down before the end of the year. you have to go through one more month of unfavorable comp. we think there is price pressure that we are starting to see the downward price pressure. it is not going to be a notable way but you will start to see things slow even as early as the end of the year, and as we roll into next year, i think it is reasonable to think for inflation could surprise people to the downside. there's a lot of price pressure in the pipeline. is downward price pressure in the pipeline and we think that will hold up. lisa: others say we will look at wages and how much they are increasing, look at some of these secure elements, look at food, look at gas. how do you factor those things in and when you start to think i am wrong in the fed d

there's some calls here by rbc that maybe they could speed up production of both natural gas and oil,need, and that would, i guess, weigh against profits. >> you've got those coming from both ends. it's not often you see 5% drop on oil prices. maybe you have some saying we'll increase supply. that could give you, especially on a monday morning in august when a lot of people around around, that's why you could be seeing that. >> there's another element a third element, maybe this is peak oil profits how much better do you get than 90%. >> what was it $44 billion? >> up from 25. >> up from $25.5 billion if you look at exxonmobil, they were under 18 and change by the way, apple made more money than exxon mobile did. they made $19 million, but this eclipses that as well. >> what are they going to do with that money? where does it go does i got back into energy production when i was a reporter in the 1990s and i followed the oil production, they got into computers and printers they went in and got rid of businesses and reyoorienting business there's a lot of extra money out there. what do

where the market is heading with rbc capital markets head of strategy and china bull ray dahlio

he gave an interview to rbc-ukraine.al serhiy kryvonos, the former first deputy commander of the special operations forces of the armed forces of ukraine, who commented on current events on the fronts for radio nv well, the same marchenko said that ukraine plans to de-occupy kherson and must complete the active phase of the war by the end of the year if we have the amount of weapons that we were promised and that we need, according to marchenka, now western aid to ukraine is coming in small batches and this makes it somewhat difficult to carry out a counteroffensive kryvonos , in turn, spoke harshly about the loss of half in the first days of the war and which must be returned now in blood and about the influence of political power on the military sphere in ukraine actually neither general marchenko nor general kryvonos said anything new, however it is believed that they said something superfluous, and this incomprehensible, as in my opinion, unexpected attention to the interview of the generals, which of them specifical

rbc-ukraine was told by the ambassador of ukraine to turkey, vasyl bodnar, who says: a week ago, theent approved a bilateral agreement on the construction of the plant and sent it to the parliament for ratification at the same time, the owner of the baikar company has already created a company in ukraine, she purchased a plot of land on which the company will be built, its project has already been developed at this plant, vasyl bodnar added , several models of drones will be produced at once, the largest part of them will consist of ukrainian components, in particular engines, and before the war and now the field of defense technologies is one of the drivers of our relations, despite the war, our companies continue to fulfill their obligations, perhaps not in such volumes as it was planned but they do not abandon this work. and this also shows how responsible a partner we are, which not only leaves the turkish side alone with its problems, primarily the supply of those things that are needed for their defense. from the most effective weapons in the first weeks of hostilities, they ar

for the 23rd year and it will be extremely tough, the minister of finance said in an interview with rbc-ukraineerhiy marchenko, let me remind you that according to the ministry of finance, the monthly deficit of this year's state budget reaches five billion dollars. we will try to explain what this amount is in a simple and accessible way. so, the ministry of finance says that ukraine lacks 5 billion us dollars every month, or at the rate of the national bank, it is 183 billion uah if it is in 100 dollar bills. 50 tons of money will be obtained, this is a little less than two completely filled containers of bills 5 billion dollars is a pension for more than 3.5 months for all pensioners of ukraine 5 billion us dollars is a million 800,000 tons of buckwheat 5 billion dollars is more 73,000 medium-sized city buses how to overcome such a huge budget deficit and what will happen to prices in general, let's talk about it further with the people's deputies danylo hetmantsev faction servant of the people and yaroslav kresniak faction voice gentlemen glad to see you on the air so, uh, we have very high

ensuring social payments, talk about it in an interview minister of finance serhii marchenko told the rbc-ukraineews agency that, according to him, the key task is to find funds for priority needs, in particular, the state budget will include assistance from partner countries, it will come in handy when financing the budget deficit. in danger, the verkhovna rada appealed to international organizations, parliaments and governments of member countries of the international atomic energy agency say it is necessary to condemn acts of nuclear terrorism in russia at the zaporizhzhia nuclear power plant, deputies call for the introduction of sanctions against the state corporation rosatom and its management, as well as the sending of a un security mission and megate to the power plant with further demilitarization of the facility and the withdrawal of russian troops . and neighboring states, fuel prices with the return of excise taxes will not change much, minister of infrastructure oleksandr kubrakov assured the tax it is planned to partially renew it, not to the same extent as before the full-scale war

was the day before major general of the armed forces of ukraine dmytro marchenko in an interview with rbc said that ukraine will liberate crimea by military means and the destruction of the crimean bridge is necessary for this measure well, even before that we discussed the interview of general kryvonos, he criticized the personnel policy of the president's office and said that they affect the military and, in particular, with regard to special operations forces. nothing can be said, is there really a construct here and where to find a balance, the logic is, of course, that, well , we must clearly know that there was something extra, so it is impossible, that is, we are not a civilian photo, even they understand that it is impossible to photograph arrivals, i am clearly military i know that uh, i can name the military units that , well, the brigade, the subdivision that are located somewhere, only those that have already declared themselves. that is, there are several very serious units in bakhmut that you are holding right now . but only 58 infantry brigades have declared themselves and

shery: still ahead, reporting season in australia and rbc capital market says they see margin reservationa huge team in the face of surging and elation. the discussion is next. this is bloomberg. ♪ haidi: australia and new zealand not likely to get a lot of upside trading. the job some -- the jobs report from the u.s. and the release of australia's -- new zealand's two-year inflation. sydney opening their doors to vips and we are watching oz minerals that rejected a takeover proposal from php, who says -- php, who responds saying they are disappointed. investors are looking to see the threatening of corporate profits. karen joins us in sydney. you're talking about margin degradation being one to look out for as a result of rising cost pressures. >> it has been front of mind. input cost, wage inflation, and price increases coming through. i think the problem we will have now is how to withstand them. there has to be acknowledge that there will be margin pullback. haidi: when it comes to sectors in particular, earnings per share at the moment is sitting at a record in mining. head and shoul

implementation, the head of the ministry of finance , serhii marchenko, said in an interview with the rbc-ukraine agency that the model is still being discussed. certain risks - risks are noted by the government official, at the same time it is necessary to return to the pre-war level some of the previously abolished taxes and benefits, in particular, marchenko supports the return of fuel taxation, we already talked about the excise tax on fuel, it is going to be partially returned well, it is clear that the expert environment is already predicting several hryvnias per liter gasoline can add $4,000 for 1,000 cubic meters gas can cost like this in europe already this winter such forecasts were announced in the russian gas industry according to international analysts underground gas storages of the eu filled by two-thirds, the need for fuel drives up prices on world exchanges already today for 1,000 cubic meters , the market is asking for more than 2.5 thousand dollars, this figure was observed in early march, after the full-scale invasion of moscow in ukraine , there were fears of a complete stopp

. >> the rbc was the first major central bank -- rbz was the first major central bank to cut rates., you are getting a lot of pushback, a lot of questioning, a lot of criticism. how do you respond to them? are central banks being expected to do more question mark people taking this as an exact science rather than something you have to try to do in steps? what do you think about this after surging inflation? >> central banks need to be very open and willing to show all of their workings of how they get to where they are and what they are trying to achieve. the hardest thing for a central bank is to explain to the public what you cannot achieve. we cannot expand your labor force, we can't print people. we can't make your health kit -- we can make your health system better. we can educate your children but a lot of the public says you are part of the government, you should be achieving those things. we are victims of our own position of being out there in the public as a regular feature on economic news and announcements. we are targeting consumer processes. people think you have targe

question from rbc about whether the june low was the ultimate low for the selloff. tom: equities are up this morning but it's about fed speak. 14 speakers yesterday, 12 today. what are they saying about september? jonathan: we have more work to do seems to be the bottom line. we heard that from mary daly yesterday. it unlocked a big move on the front end of the curve. right now we are super focused on the opec speak. started about 15 minutes ago, according to a delegate. they are going to boost output by 100,000 barrels a day. that will come down like a lead balloon in washington. tom: brent crude breaching out, 101.70. jonathan: we have gone from losses to gains. tom: lisa, with a bond volatility, we are talking about what have we seen in ig and high-yield? lisa: one thing that is fascinating, companies have enjoyed the rally, have been selling bonds at the fastest pace that anyone would have expected. investment great have already sold all of the bonds for the entire month of august in two days. is that how people feel based on this put back from fed officials? we

the reliance on coal is bitter but necessary joining us now is the associate director of research at rbc capital marnkets b biraj borkhataria, you talked about the shutdown and demand hit. you talked about a potential 20% demand destruction that would be necessary to have the supplies needed for winter. talk to us about what that would mean that is one out of five power days effectively going offline in germany >> europe has exhausted all measures it has. you are taking as much lng as you can get. you have fuel switching and so on it comes down to demand reduction. that 20% figure we highlighted is realistic i think actually the worst case could be higher than that. you will see industry likely to take the brunt of that also consumers and businesses will naturally see demand come down because pricing will be so high and that forces the demand destruction. >> okay. i want to focus on a little bit of good news and then the not so good news. the good news, biraj, the storage levels in germany are 80% of where they normally are that is pretty good. storage is fine. as i understand it and cor

rbc capital markets joins us later for more. next, wealth enhancement group says with every rate hike the excitation for recession increases, even if unemployment remains relatively low. we discussed that outlook next. this is bloomberg. ♪ >> the notion of a coming fed pivot. >> the pivot everyone is talking about. >> central to this is the view that there will be this immaculate disinflation. >> we still see core inflation accelerating. >> this was not a pivot from the fed. >> inflation is still what we need to be focused on. >> the fed is pivoting here. >> we don't see it. >> chair powell and his unscripted remark said we are at neutral. >> i am not sure why powell stated that we are near it. >> the market is looking for a pivot. >> the market is trying to force the fed's hand. >> financial markets seem to be pivoting prematurely. >> this is a market trying to always get ahead of the fed. shery: bloomberg tv guests talking about the outlook for a fed pivot. let's bring in our next guest who says the timing of potential cuts co

rbc notes the cash flow from operations was incredible $59 billion. saudi oil giant wants to raise j output to 13 million barrels a day five years from now. that is oil and gas. let's talk about clean energy. inflation reduction act looking to benefit those who invest in renewables rooftop solar panels and energy efficient appliances all this is part of the effort to quickly transition america to a cleaner future for energy. let's talk about what this energy landscape means with dan pickering. cio of pickering energy partners dan, i don't know if you just got up or stayed up. we appreciate it it is a big topic. we need to hear your views how much does this law, not a bill, it's a law, change the game for renewable investors >> brian, good morning it's a big deal. talking about $370 billion to clean energy power gets most of it. $260 billion to the power sector which we need. you jump start the economics with solar and wind and battery storage. this creates a lot of investment and makes clean energy technology better. if we are going to hit net zero by

could be a more volatile macro environment analysts reaction this morning, a little mixed jeffries and rbc cheering spending cuts. jpmorgan saying, that suggests square is bracing for potentially weaker growth. wedbush pointing out fears of competition with pfizer and talking about exposure to the consumer end small business. analysts have questions still about how those groups will hold up with high inflation finally, guys, crypto. block's pick profit down 24% from a year ago. also took a $36 million loss on bitcoin holdings back to you. >> how difficult was the messaging from block, do you think from paypal? both talked about being conservative, maybe cutting some costs. just sort of in an interesting position with block now on a market cap basis a little less than half where paypal is? >> i say block's messaging, jon, more subtle. paypal really came out with a turnaround strategy, backing of elliott. an inflection point for paypal block, a little more subtle saying slow down on things like discretionary spending wasn't total turnaround plan basically what we're doing is working. here is

after the break we'll talk to rbc's helena croft who says natural gas is the most important to watch energy space. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. ♪good vibes by moa l.m. munoz & ryan t. short♪ ♪♪ ♪bout to get down, living it up♪ ♪never touch ground, never enough♪ ♪bout to get down, living it up♪ ♪never touch ground, never enough♪ ♪got me feeling good♪ ♪vibes♪ ♪♪ ♪got me feeling good♪ ♪vibes♪ ♪♪ ♪everything's everything's alright alright♪ get a free storage upgrade and case when you pre-order. >>> natural gas prices hitting their highest levels since 2008 this week. the move comes as europe deals with soaring prices as a result of russia cutting off flows. for more on the volatility let's bring in helena croft. every single day a

instagram network blocked in our country in which, as deripaska's lawyer tinkov commented on the case to rbcte that oleg vladimirovich is a very bad person. the co-owner of rusal, who also stole the russian economy through his representatives, called tinkov's words an attempt to flirt with western audiences to do this at the expense of others, resorting to outright lies. it is inadmissible to remind you that after the start of events in ukraine, oleg tinkov sold his business in russia and now lives abroad. first session of the court scheduled for tomorrow. in case of satisfaction of the claim, depashka. he promised to give these two billion rubles to charity. marketplace wildberries has become berries a new name appeared on the official website this rebranding, the founder and main owner of the marketplace tatyana bokalchik announced at the beginning of summer in response to the remark of the minister of industry, and the press service of the company does not comment on foreign names in syria yet. for that, shirokov is discussing the changes on the internet to buyers. at this on the official

and are the parks delivering amid inflation concerns let's debate entertainment and media analyst at rbc capital markets and he's got a $150 price target and our sort of bear is michael morris entertainment media analyst at guggenheim and he has a $110 million price target what are your expectations >> yeah. thanks for having me we expect solid ads for disney+ and the momentum that management expects going forward given a fairly robust content slate and continued benefits from the recent market launches that they had last quarter and the introduction of the ad-supported tier and we do expect that the parks will exhibit solid attendance and pricing report like comcast, and ns universal at the parks the messaging will likely be that regardless of the macro pressures that we continue to see, the way that the management has invested in technology and improved the guest experience and monetization and the capacity to restrain limitations and at a cost structure, we think the parks are as well positioned heading into recession as they've ever been. we're pretty bullish heading into the prints.

coca-cola to pepsi, constellation brands, and here to help us trade them, nick modi, managing director at rbcas some best position names for us today. welcome, good to have you with us there are three stocks that we're going to get to in just a moment, and i wonder whether as you look at these e pupurveyorsf beverages and food and things like this, the key at this time is whether they have pricing power, can they pass along price increases to their purchasers? >> yeah, so far what we've seen is absolutely they've had a lot of pricing power we really think about it and go back in history, take carbonated software, soda, for example, there was always a lot of doubt that that industry could take any pricing and what we, i think, have learned over last several years is these categories aren't very price sensitive. the issue is cross elasticity. it's when the competitors don't take pricing and you take pricing, it causes a lot of mayhem, and so far we've seen the industry act very rational and everyone has been taking pricing at the same time even with all the increases today, you can get a can of

usa and about another 16 billion dollars by the end of the year, this was stated in an interview with rbcance, the country, marchenko ukrainian tv channels do not stop boasting about new highmors, which russian soldiers then have to destroy. here are two armies, infantry, cavalry, flying tanks, heavy long-range artillery, the chief of the general staff and the supreme commander, but for modern warfare. this scheme is no longer suitable. too small a board lacks certain pieces and they can move according to completely different rules. during the game , pieces can disappear from the board, and then suddenly appear in a completely different place and the opponent of this sometimes they don't even see it. themselves in the arsenal of the armed forces of ukraine, kiev is a vigor deputies from the european solidarity party just a clown oleksii goncharenko claims that at the june nato summit he discussed with british defense minister ben wallaces the possibility of a strike on the crimean bridge, for authenticity he attached a photograph where the inscription of the cafe flaunts in the upper righ

earlier we spoke with our guests from rbc capital markets, the chief economist, and she said, yes, thatbig fight for the rba is inflation and there is no pivot insight. let's listen. >> the rba is lagging global central banks. the cash rate at 135 is still little. inflation is way too high and extraordinarily strong labor market. i don't think we will see a pivot from them for some time. kathleen: the rba is expected to signal opening the door to another 50-basis-point rate hike in its september meeting, the key rate expected at 3% by the end of the year. nomura holdings think it will be 3.5% by the end of the year. so it is clear that they are a long way from done, until they see inflation starting to come down sustainably. . this is the big fight for all central banks around the world. annabelle: especially the fed. the debate continues. can it avoid recession and achieve that soft landing? what is the latest we are hearing? kathleen: this is the debate. i have to simplify it because this is high-level economists arguing. larry summers, former treasury secretary, noted harvard economi

interviews and conversations with the rbc governor.omberg. ♪ shery: take a look at how asia is opening up, given the caution we are seeing ahead of jackson hole and the weakness below parity when it comes to euro-dollar and the increasing energy risk from the shortage and the crisis exacerbated over there. we saw that in the open price for natural gas. euro stock futures up by about .10%. msci europe lower by about 1%. dax futures up by about .10%. shery: we saw the benchmark finishing at the record high and taking u.s. gas futures higher. we are talking about the 14 year high as we continue to see energy prices rally, asian gas prices also higher and the rebound in gas prices a little stronger in the recent session wti up .8% haidi: it is not just the euro we are watching, it is also the one. the south korean fx authority saying they are expecting offshore factors will move fx. they will be closely monitoring trading and looking at whether speculative factors will move fx. we have heard from a number of policymakers, including today,

the rba and rbc are following the fed's lead -- rba and rbnz are following the fed's lead.icials to engage in intervention if the yen slides further. gsfm are really bearish on the yen. and we are close to the 140 target now. kathleen: it is like a hive of bees, those bears are stirred up now, so how aggressive do we expect the bank of japan to be? last time we were breaking through lower levels for days if not weeks, the boj got top and beat them back. can they do that again? >> it is a coin toss at this point. 140 is the target people have talked about, the line in the sand where we could see potentially strong intervention from the boj or ministry of finance. we shall have to see is what i would have to say. it is 50-50 on how effective it could be paid the key thing to remember when it comes to intervention is that it is often not a one-way gain. you need central bank years to agree -- central bank peers to agree to central bank intervention in the first place as they wrestle the yen back to normal levels. kathleen: ruth carson. ipo's suffer a slump in the rest of the w

the deputy governor told bloomberg the rbc is waiting to see if it sees a peak of 4% or higher. mostly because the bank has not settled on a new estimate for his control rate. china's biggest covid outbreak may be easing. the southern island is leading a new infections. in hong kong, dedicates his rose to the highest in more than four months on sunday at 6500. japan's government says the prime minister tested positive for covid and is having relatively mild system -- symptoms. he is currently resting and is ecstatic -- expected to resume on monday. singapore is repeating a colonial era law that criminalizes sex between men. removing the legal balance act between jasper of relationships between men is something most singaporeans will accept. these stop short of allowing same-sex unions. they said they will protect the definition of marriage as between a man and a woman. global news, 24 hours a day on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn this is bloomberg. quek still had on bloomberg markets: asia, t

especially in asia because we are expecting rbc rate decision. the philippines by 50 basis points.l us what central banks across asia face and the divergence of piercing with the chinese economy as well. sarah: so, this is for me a very different position of china's economy fundamentally in terms of the recovery piece moving forward through the pandemic. capacity restraints are right now across many asian countries. as you see it with the meeting this week, they are running very hot right now, particularly new zealand, australia, other developed economies throughout the world. they are running really hot. central bankers are battling inflation coming not just from supply-side constraints, but really strong demand, domestic demand. unemployment rates at record lows. the economy is looking like they are operating at full employment. this is an environment where central banks have to be tightening policy and exactly what were seen. i think they will go again today, although perhaps becoming more mindful of where the cycle is going and looking ahead to a time where they will not be rai

amy silverman at rbc capital markets, great to have you back.ond. the stock is down 22%. and even though it's a small compan company, i wonder how you see the activity it has brought to the market and how it's holding up in light of the market volatility that we're seeing >> good morning. just when we think the mime stmeme stocks are over they reappear again. what they are doing is buying call options you saw that peak in may 2020 and january 2021 even with the things we're seeing in bed bath and beyond we're nowhere near those peaks, whatsoever at the absolute highest, you saw call option very, very overbid compared to the puts that's only come down to a handful of names so we're nowhere near the peaks we've seen >> the vix has remained relatively muted even in height of the market volatility, and one would think that we could see that spike and one explanation is that people aren't in the market using the vix to hedge anymore or not as much what are you seeing? >> yeah, i think that's a very valid narrative right now. unfortunately, equity has

rbc, the news is cut to sector perform, also cut the price target by $15 to 65.ssful turn around story in place. stuart: the story, bmw, they charge 18 bucks to turn on the seat, heater in the driver's seat. lauren: not in the u.s. in other countries. stuart: i think, if i'm not mistaken, you got the story, other companies are doing the same kind of thing, charging you to turn on services. lauren: it is crazy there was so much outrage about the bmw move. it doesn't matter, first quarter kelling, diming is threatening to become standard. this is what gm is doing. mandating the buick, gmc, escalade owners pay $1500 for onstar service. you used to opt in. now it is mandatory to pay for it. toyota charging $8 a month remotely starting your car, great in the winter, want the car to heat up. $8 a month. tesla, $10 a month for music and maps. they're charging 200 for the full self-driving, they just increased that cost. stuart: looking anywhere they can to get many some extra revenue. >> they're not getting enough right now. so many vehicles are selling $10,000 over ask

this is a nuclear power plant, where three chernobyl reactors, such as rbc 1.000, are standing and operatingity, responsibility, and so on. they know what they're doing. they know very well what they are doing. they are very well prepared. and you, of course, excuse me, three sabotage in the perimeter, and as with chernobyl-type reactors, but this, of course, i will tell you this, is a very bad call regarding what level of security is there ? a big nuclear war scenario in which 5 billion e people will die, yes, but this is the second scenario that was described in a well-known publication. and there is the first one. the second is really apocalyptic, everyone died, cockroaches remained, and there are some representatives developing countries, there and so on. and now they are competing for a place on the planet. ah, but there is the first scenario. yes, everything is nothing in a stop of 15 cts, 27 million people will die. the main industrial centers of a number of states will be destroyed, primarily in europe there will be no apocalypse. here we are a year, probably a year and a half ago, f

are here, well, well, that you are not cold to threats putin's question today in an interview with rbc all their efforts, but there is fuel. both are russian, including. i think it will be the right decision from the point of view of ukraine to interrupt the lines they are going to connect. i think our armed forces will ready to do it. if there is a need to explain here, then we have already announced this. yes, we want to reconnect. uh-huh , reconnect this same working as to russian ones, so to speak, well, i don’t know the power lines, yes, turning it off, in my opinion, this is the most logical. what can what can be done? yes, ukraine yes, it is, or rather, ukraine from it, turning it off. and what ukrainian then we will fire, by the way, almost again a purely cordial recognition. andrew raised his hand. yes, yes, please, just i wanted to remind you about our game with you, which last year was especially active, when in the same studio you were talking about cities, why not hit looking, looking at the map of ukraine and i began to tediously list the consequences, including, which un