ueda is more cautious about prices.ed that the inflation rate may go down below 2% in the second half of this fiscal year. but today's boj release of the quarterly report including the price forecasts, it may revise up a little bit the forecast for 2023 and 2024. the newly released numbers i think are important. the inflation rate could be 1.522%. that could undermine market speculation that the boj will change policy soon. kathleen: so in terms of messaging -- he will get asked a lot of questions about yield curve control and the possibility that it hurts market functioning. what do you think he could say? he have to say it is too early to tell, will he acknowledge that maybe it will change? takahide: i think today he may delay the possibility. but i think you -- he might exchange in the second half of this year. it is not undermining financial markets' action. the best argument could be that the boj has to -- government bonds to prevent the yield from exceeding the upper limit. so i think the boj have to change the yc

we expect kazuo ueda to change everything. dani: they said they are doing a policy year and it will take 1-1.5 years but why that timeline if they are going to do it sooner? martin: that is a red herring. the review is what have we done in the last decade? japan has used all equipment and they are not scrapping them. we expect the peg would be change from zero to 1% and we expect the band to change to plus or -100. the new 10 year yield after july can flip between zero and two and that means a boj can actually control their balance sheet and control more of the money supply and these academic issues are what governor ueda will be considering. dani: they have a public debt load of 264% of the value of gdp. we have a government who is planning to spend more to encourage more kids. they are increasing spending on defense. can they handle higher yields? martin: they have no choice. the central banks job is the inflation target and the inflation dynamics in japan we cannot overemphasize enough. they have dramatically changed. one w

so when might ueda change policy?ormer boj policymaker who used to work with ueda says there are two points that might be telling at the coming meeting. the first is whether ueda will signal a change in its yield curve control policy. known as ycc it's one of the ways the boj is keeping long-term interest rates low. >> translator: ycc had side effects such as des torsions in the bond market. however, if that happens and long-term interest rates rise it's likely to increase borrowing rates for housing and smaller size prices. i think the boj will find that difficult to tolerate in the current economic climate of uncertainty. >> for these reasons he says we won't be seeing any revision of yield curve control at this meeting. that's why his second focus this meeting is how the boj forecasts prices in its new outlook report. japan's key inflation gauge surpassed the bank's 2% target last year and remains high. however, the boj projected in its january report that it would dip back down in fiscal 2023 as the impacts of hig

this is the first meeting for governor ueda.or kuroda, who had to change the monetary policy stance of the boj drastically, governor ueda has to maintain the continuity from governor kuroda's policy steps. in that sense, he has to be very careful about changing anything of the boj's monetary policy cents. given the prospects for inflation have not yet changed to governor ueda's time, i don't expect any chance to change it sooner. kathleen: i want to ask a couple more quick questions. your view on governor ueda, what is his boj going to look like compared with governor kuroda? will he move it ahead? >> i guess two things. one, now there are overwhelming cases for keeping the current policy. he's going to have to sort of commit himself. governor ueda has to commit himself to this commitment of achieving a 2% inflation target. after a while, i think governor ueda is a different person from governor kuroda. circumstances are different. the boj with higher than, then you know he has another job to counter inflation. which had not yet

mark: if you read between the lines of what he is saying, ueda is encouraged by wage increases.been hints that they are going to change their cpi targets much closer to 2% for the longer term. we are also getting a sense of this traction to the inflation situation in japan. there is no longer talk of deflation. certainly the moves are small but incremental towards the idea that the current policy is out of date. there needs to be a change. whether that happens at the first or second bank of japan meeting is also what traders will want to know. he looks like he wants to build consensus and it is unlikely he will make a big jump at his first bank of japan meeting, but he can tell from him speaking today in parliament, he is watching a lot of indicators and willing to go back on all grounds, which the bank of japan was not keen to do recently, so he is taking a new approach to traders can expect there will be changes in the future. yvonne: you are watching all things fx and i wonder what that means if we get a softer cpi printout of australia this week. what does that mean for the

we will see if ueda can be less volatile than his predecessor. we had those meetings straddling the year end period last year. tweak your control and reimpose it. there is a lot at stake there. a lot of people have been betting that they will be forced to tweak. overall the expectation is that they will leave settings as they are. what do they say going forward? what do they say about what would be the way in which it would look at unwinding some of the extreme easing they have got going? what would be the timetable? how will that fit in with everything going on internationally? vonnie: in the u.s. we have the two year at 418 with a lot of data this week. first quarter gdp reading, core expectations. will there be volatility in the bond market? >> the bond market is in this uneasy calm at the moment. the fed is in its quiet period leading into next week's fed meeting, and fed speakers at the end of last week were very clear to basically go away leaving love, here sitting on the table when we get back is the 25 basis point height. with potentially

that is exactly why ueda sticks to the current policy.the near future, there is great opportunity that we will have a big change in the balance of that. manus: if i look at the movement in dollar-yen from 1.50 to 1.33, the trajectory of the currency has had moments of existential angst. how important is yen strength in the ueda regime at the bank of japan? kazuo: currency is always an important factor when it comes to monetary policy setting. it is special because at the start of last year, the yen was -- and at some point last year, it went up to 150. we had a 30% increase in a matter of months. that was too much, so that is exactly why the boj's monetary policy is more counteracting the anxiety and criticism from the boj last year. now, the extent of it is much more stable, so the stability of the exchange rate will still be an important element surrounding the boj. what happened last year might happen again this year, and the boj will become under pressure to make changes in the market policies. dani: we have got later this month to se

it is ued'as first as governor --ueda's first as governor.e have tokyo inflation after he saw the national level continuing to come in pretty hot. the expectation for when that is going to change any catalyst for the boj not quite yet. we are seeing traders pricing in the exit of negative rates by as soon july. shery: for more on the boj let's go to global politics and economic editor kathleen hays at the boj in tokyo. the data dependency with those numbers expected today, not worse than expected from ueda in his first month's meeting. kathleen: glad you mentioned data dependence because you're thinking he is known for watching the data. he wants to see the numbers. in 2002 when he dissented against a rate hike by the bank of japan which they had to reverse, he said he wanted to see numbers. he was going to move slowly. he's watching numbers closely and in the big picture, what kind of pressure is there on the bank of japan to make any kind of change? most people would say nine. bond yields not pushing too fast or hard against the upper range

ueda era has now started. we are working to see what he says in his inaugural press event later today, but so far, he has said that he wants monetary easing to continue. his stance is that everything should be data-dependent. right now, we are not expecting major surprises of the sort that kuroda had dealt. from u we are expecting a cautious start. -- from ueda. >> not a huge amount of trading. is there anything he could say today that would surprise the market? >> one thing that could happen is a meeting between ueda and the prime minister. that is something that happens quite often between a new boj governor. and it is something that we're watching. whether there could be any comment about the joint statement between the government and the boj. if there is any sort of comment that is surprising, that could potentially be market moving or have implications for policy down the line. >> we are watching closely and the first boj meeting is not till the end of the month, so he has a little time to settle in. and

the boj meeting was a first under new governor ueda kazuo.or this week's featured biz pick we take a look at expectations for his monetary policies. ueda has repeatedly said that the central bank's easing measures are needed until there is a sustainable 2% inflation as well as wage hikes. and keeping the monetary policy is exactly what he's done. the chief economist at -- research believes, however, that the bank of japan's inflation forecast is conspicuously low, which takes off some of the pressure to change policy. >> translator: the bank of japan seems to be remaining cautious and keeping its inflationary forecast low to show that it is not in a hurry to change its monetary policies. tokyo's consumer inflation for april was just announced. prices in general are rising including several service sectors. the bank of japan's forecast this time doesn't sit too well, and the inflation forecast on fiscal 2025, which was presented for the first time, doesn't reach the 2% target. so it is a message there is no need to ru to change the policy. >>

it was expected given definitely which out of ueda. on the treasurers front, a lack of direction ahead of a heavy week of data later in the week. european earnings will be continuing. we will get numbers from the world's biggest food group. nestle, they report in a few minutes. this is bloomberg. ♪ dani: happy earnings season. we are getting nestle numbers right now. it is a story of stronger pricing power. revenue beat, more than 9%, the estimate was 7.25%. there pricing was up nearly 10%, when the estimate was 9.5%. it has been a relatively strong earnings season for the start. let's get into all of it with the cio of coutts & co.. alan, we have a very consumer-facing company, we had been concerned about the consumer but nestle is still able to raise prices. >> very interesting, isn't it? we have seen similar from procter & gamble in the states, also strong numbers and able to raise prices. we have seen it on a micro level amid all the politics of higher food prices. it is not just your food, i know. but it is an incredibly strong co

just ahead, we have the boj's first policy decision under ueda-san.that might mean for the currency. we will break that down for you next. the decision is imminent. this is bloomberg. ♪ conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights and boundless curiosity. we dissect the market from every angle. helping to build portfolios that redefine what's possible. because investing isn't one size fits all. allspring. purposefully divergent. david: dollar-yen, low of the session is about 133.62. we were as high as 134.29. it was supposed to be a quiet approach to the boj decision, and then the nikkei happened. yvonne: the outflows were roiled, based on what our colleague said. although things have -- we are back to those sort of levels, but there was a lot of anticipation that may be this surprise we saw is going to lead to a lot of potential changes. let's bring in steven chu. it is surprising we had this report moments away from this announcement. >> not really. everybody is waitin

what is the main concern here for ueda? too quickly, the bank of japan moves stimulus a little bit, this could cause inflation to actually fall more than they already expect it to fall. if you didn't get the message on monday, on tuesday he seemed to say it with a more definite tone. he said this could have negative consequences. when we spoke to tatsuo yamasaki, he said he thinks what is going on is that yes, they have to move very carefully. negotiations have gone well so far. but they are not completely over and he doesn't want to stop the momentum. let's listen to the various things he said. >> he mentions that condition -- that the condition is a strong forecast. inflation closer to 2% with high probability ahead. that to me seems that he becomes more cautious about tweaking. it is not a regular negotiation. it is still underway. this is mainly b companies. not all companies were medium size companies. that is quite important. for sustainable inflation. so i guess maybe wants to keep the current momentum. >> if we get

no shock and awe expected from ueda. no, this is not governor kuroda taking over when the economy was still deflating, prices were going down in japan. prime minister abe had said, "we need somebody to get going and hit this hard." it's a different situation because now inflation is about 2% on ground and is expected to fall back below the target of 2% and slow down the boj from doing anything drastic right out of the gate. nevertheless that sets the stage here, a very different situation for governor ueda. he has to go about dealing with it in different ways. let's start by saying, no one has completely ruled out a surprise on the yield curve control this week, it's not their baseline, but let's keep that in our back pocket. our guest yesterday, former chief economist at the bank of japan, not ruling it out, thinking this will start later. and of course, mr. ueda spit into parliament on monday, said it is too early -- speaking to the parliament on monday, said it is too early to normalize the ycc framework. normalizatio

haidi: the new boj chief ueda will eat his first policy meeting later this week. we will be discussing the outlook with the former chief economist at the boj. bed, bath & beyond searches for a buyer after filing for bankruptcy with plans to shut down. we will get details ahead. this is bloomberg. ♪ vonnie: you were watching "bloomberg daybreak: asia." we had the look out for cpi bring threat asia on the industry rba expects a 1.8% quarter on quarter rise in cpi. a weaker reading could push the bank to keep its rates unchanged again. we will also get inflation data from tokyo and singapore. on thursday, gdp figures are expected to confirm the u.s. economy is showing resilience at least in the first quarter of the year, even in the face of rate hikes and bank shots. we get first quarter growth figures from south korea. on friday, new boj governor ueda will deliver his first policy meeting as investors watch for any signs of tweaking or scrapping of the bank's yield control stimulus. other economic data to note our ppi numbers from japan, china was industrial profits

kathleen: ueda has helped guide boj policy in the past.de his mark in 2002 when as a member of the boj policy board, he voted against a majority decision to raise rates, saying he needed to see more data. now, he is facing the real possibility that in the near future, japanese inflation will reach 2% in a sustainable matter that boj policy decisions require and bracing for the large adjustments the economy and markets will have to make and the turbulence that could result. >> i think we have to make an appropriate judgment in advance so that such a thing does not happen. kathleen: investors in japan and around the world are waiting to see if ueda can thread the policy needle starting this week as he begins his first policy meeting as boj governor. kathleen hays, bloomberg, tokyo. rishaad: and we can get over to tokyo itself and get over to kathleen hays. that landmark boj meeting beginning on thursday. what are you looking at? kathleen: look at the fact that there seems to have been a strong messaging from governor ueda. certainly his two

ueda seeing he is taking account of the balance sheet, and the side effects of using. global policy editor kathleen hays in tokyo. to talk more about central bank policy, we are joined by the director of model portfolio services at invesco. when you look at the bank of japan, a lot of the focus on policy change still possible under the review. but they are keeping policy as is, with disclosures bit by bit on what they could change going forward, how does this fit the wider narrative for central banks? ben: the bank of japan isn't necessarily isolationist. it has had a history of different inflationary challenges, and likes to keep us all on our toes. on the instruction from yield curve control, it is difficult. if you do it gradually, the market anticipates and sells more bonds, and the bank of japan does not buy as much is it wants to. we have to learn to be surprised. that is not the case for other central banks you want to be more explicit, about their interest-rate path and policy. slightly different dynamics, but certainly more of a hawkish threat relative to deve

>> the important point is how ueda is going to deliver his forward guidance.ccess policy guy which translates to for guidance. if he is going to guide the markets that the boj will not move for a long time, that will change the minds of investors. he sees now june or july. so banks are cautious in moving until then. if he sends out a strong message that he will keep this policy for a long time, i think banks and other investors will have to move after that. kathleen: so you are saying banks and life insurance companies, everyone has been waiting for this tweak or something dramatic. and now potentially everyone is saying because ueda has talked about a policy review that is not just for 10 years. it is 25 years. that not -- that is now seen as a key element of what would allow the boj to start normalizing or not. >> i think there are two thoughts on that. on the one hand i think people can -- the boj can use that as an excuse to change policy. for him, it might be a good chance to look back and say look, it didn't work, so now they have to move. but i think th

we had softer dollar but also the first public comments from ueda since taking over the boj. peters in the u.s. pointing to gains of .1%. and 3.41 on the benchmark 10-year, as we look ahead to the cpi print out of the u.s. on wednesday. and then earnings season kicking off friday with banks like j.p. morgan and citi, to what extent will we see margin pressure in this first quarter of earnings? and is that more significant for investors than inflation. traders are looking ahead to the u.s. cpi report tomorrow. a forecast of a 0.4% increase in march. markets pricing a stronger likelihood of a 25 basis point fed hike. in terms of topline cpi, expectations of 5.1% in march, down from 6% in february, those are the estimates. let's bring in jp morgan's emea head of strategy, grace peters, what is more important, the inflation print wednesday or q1 earnings starting friday? grace: both to some extent. the inflation print will be important. we have several fed meetings may, june and july. every single one of those meetings is in play. the fed will be data-dependent. in our mind we wi

ueda searches -- meta-searches post market. amazon reports today. sentiment roiled, the first republic slump deepens as the troubled bank could face federal borrowing curbs. concerns about regional lenders driving the s&p 500 lower for the second straight day. escalating the standoff with president biden over averting a u.s. default. deutsche bank reporting earnings now. trading revenue down 17%, a miss, the estimate had been just over 2.5 billion euros, that will be a big disappointment as its u.s. and european years so far have had strong, thick -- ficc results. the ceo says they are on track to meet 2025 targets. they have increased the incremental savings target by 500 million euros, something they have shined at doing that is cutting costs. they have imposed hiring limits for non-client facing roles. they are engaged in trying to cut down costs, but the real issue for them will be these trading figures. there appears in the u.s., even citi, credit suisse and ubs to some degree had stronger trading numbers, but for deutsche bank it is a miss on

it has been a lot of expectation of the big move under kazuo ueda .what we have seen from his comments after he took the helm as he is trying to temper expectations. he has been playing a cautious line in the latest bloomberg survey showed 87% of economists expect no change next week at the meeting. but what is continuing to feel expectation is also this idea that if you want to jettison this complicated yield curve -- control framework for this part of the boj stimulus you kind of have to do it by surprise. i think that's always going to keep some people in the market betting on change. rishaad: at 25 basis points we saw in december really, really roiled the markets. paul, it's also the first time he is going to his first meeting here. the thing is, as we had that story yesterday suggesting they are very wary of doing anything right now as well. paul: yeah, i think they are wary. i think those jitters that we saw in the financial sector from the broader failure of silicon valley bank and credit squeeze, the jitters, the ruffles from that, it's too so

. >> ueda said he td the officialshe bank of japan will continue monetary easing toward a sustainable and stable inflation target. >>> italy's data protection authorities have ordered the developer of chatgpt to respond to a set of demands to ensure private data is protected. the italian authorities temporarily banned the use of the ai powered chat bot in the country last month. they said collecting vast arrays of data may be -- the officials made the request on wednesday to open ai, the u.s. startup that developed chatgpt. one requirement is that the company allows users to revise or delete their personal data. the firm must introduce stricter age verification measures to protect children. theuthorities are also demanding open ai run a tv and internet campaign that educates the public on the use of personal data to train ai. the officials plan to lift the temporary ban if the company complies with the instructions by the end of this month. >>> the united states plans to tighten greenhouse gas emission rules for automobiles in a step that is likely to speed up the shift to electric ve

earlier new bank of japan governor ueda kazuo said would continue easing. but the nikkei gained later in the week after u.s. consumer and producer price indices showed slowing inflation. now, let's have a look at what's happening in the week ahead. it's crunch time for the key figures from the world's three major economies. on tuesday we'll have china's january through march gdp. on wednesday the u.s. fed reports on the economy, and on friday we'll be getting japan's consumer price index. now tepid economic signals from china are heightening focus on the gdp numbers. we know china's economy slowed last year as the zero-covid policy crushed business economy. the economy then fell short of the annual growth target of about 5.5%. this year beijing has set a goal of around 5%. the government plans to stimulate domestic demand and raise fiscal spending. but one expert we spoke to expressed skepticism. economists said authorities will struggle to achieve their objective. >> translator: the chinese government spent huge sums on under its zero covid program. this h

it will be closely watched as it's the first one chaired by governor ueda kazuo since he took the helmarlier this month. japan's new central bank chief this week gave the hint to his diet of his view on the exit strategy of the current monetary easing. he said it's appropriate to continue the policy with targets for short and long-term interest rates based on the state of the economy and prices. he also said the boj will move towards monitoring monetary policy once there's a trend in stable inflation. but he said it's too early to setout concrete ways for monetary easing. and forecast for fiscal 2025 on friday following the meeting. those predictions come after the consumer price index excluding fresh food rose 3% in fiscal 2022 from the previous year. it's the largest jump in more than four decades. investors are watching closely to see if the central bank will announce adjustments to its monetary policy under the new governor. >>> representatives of japan's dining industry have been pitching for business in hong kong. it's one of the biggest importers of japanese food. officials from

governor ueda's first meeting as boj governor coming up. aluminum trending lower. yields down.ion of what we saw in treasuries. rishaad: the earnings season continues. we are looking at strong first quarter growth, expecting to pave the way for a solid year. preliminary earnings indicating they will likely beat the targets. we are looking for a strong first quarter set of numbers because of pumped up demand. wh group, the client in the first quarter. -- decline in the first quarter. cgi group also reporting. let's find out what is happening in china. our very own stephen engel. and marvin chen. let's start with steve. stimulus to reform, what are we talking about? >> we are talking about the politburo meeting, led by president xi jinping and ueda is number two. it is a closed-door affair. things have changed economically in china. we have gone from covid zero to living with it and trying to get consumption going. the good and the bad is they did ramp up some stimulus and that is why we saw gdp outperform in the first quarter. a number of banks have increased their gdp forecast

ueda, the first boj governor change in a decade. what do we kno

partially setting the tone as well as governor ueda taking over. i'm vonnie quinn. this is bloomberg. ♪ david: this is my kitchen table, and also my filing system. over much the past three decades, i have been an investor. the highest calling of mankind i have often thought was private equity. and then i started interviewing. i learned how leaders make it to the top. jeff: i asked him how much he wanted. he said 250, i said fine. i did not negotiate with them. i did no due diligence. david: i have something i would like to sell you. [laughter] david: and how they stay there. you don't feel inadequate being the second wealthiest man in the world? a♪ david: currently, there are only two fortune 500 companies that are run by african-american women. one of those women is rosalind brewer, who is running walgreens boots alliance. the well-known pharmacy train. i sat down with rosalind to understand how she is transforming the company to one that offers additional health care services to its customers. i have noticed that walgreens and another company thata™s also in the d

the bank of japan will deliver the first rate decision under the governor kazuo ueda. >> china has approveder plants in the first three months of this year than in all of 2021. according to research by greenpeace, provincial governments gave the green light to more than 20 gigawatts of new coal capacity in the first quarter. that's as beijing continues to ratchet up expansion of fossil fuel generation in an effort to guarantee reliable electricity supplies. nbc universal ceo jeff shell is leaving his role after admitting to an “inappropriate relationship” with an employee. comcast said it mutually agreed with shell that he will depart with immediate effect. shell, who is married, has served as ceo of nbc universal since january of 2020 and worked at its parent company comcast for almost two decades. the firm has not yet named an immediate successor. u.s. retailer bed, bath, & beyond will close all of its stores and liquidate inventory over the next two months after its turnaround failed. it filed for chapter 11 bankruptcy over the weekend, but says it's also searching for a buyer for all or

welcome back to the show the bank of japan has announced review of its monetary policy in governor ueda's first meeting. it kept the yield control unchanged, but tweaked forward guidance to keep the rates at current or lower levels. this comes after core inflation in tokyo rose 3.5% in april ahead of expectations. a bit of reaction in the key japanese financial assets. we have the nikkei up 1.4% no surprise there. more dovishness from the bank of japan. dollar/yen up 1.2% market participants says one crowded in trade is the dollar down side on back of the dovish meeting. >>> this is the picture for asian markets. in addition to the nikkei which is up 1.4%, we are seeing a bounce in the chinese markets. hang seng up .60%. shanghai is up as well broadly risk on with wall street yesterday and in line with some of the earlier price action in the european session today >>> china's largest banks ramped up the yuan with russia in the middle east. that is according to the analysis from the biggest lenders. this as beijing is looking to gain a bigger share of global payments erik nielsen is still

okay the bank of japan has a new governor there ueda and he's going to have one heck of a task. thought it might be very important to take a big macro look at how the yen is shaping up against the dollar, there's the dollar-yen we're well off the october levels of 150. but when you look at a 20-year chart you can see it's a challenge to try to get some strength back in the yen look at the euro-yen over 20 years. and finally, the yuan, the chinese currency on shore versus the yen. no matter how the governor winds up working toward potentially letting japanese rates loose out of their containment, i just suspect it's going to be hard going indeed kelly, back to you >> great point rick santelli. let's turn to the energy markets now closing for the day with oil lower. nat gas trying to show some life, though pippa stevens. >> starting here with oil. it's not doing a whole lot, down just shy of 1% with wti right around that $80 level although it is coming off the third straight week of gains supported in part of course by that surprise cut from opec and its allies but nat gas is the

ueda will face that test right from the get-go. >> garfield reynolds with the latest on the boj and what expect. staying with japan, rakuten bank makes its debut today as japan's biggest listings in softbank's more than $20 billion launch in 2018. for more on the story, let's go to hong kong. this is a revival of sorts for the local ipo market. >> that's right. we have not seen a share sale exceed ¥50 billion in japan this year, but it will be raising over ¥85 billion or $620 million shares are priced today to sell at ¥1400 apiece. that is the top end of the range, but it is important to note the range was lowered during the offering process so at the outset of this actually the range was 1600 to ¥2000 per share, so it is a little less than what was initially anticipated and could be more like $880 million, but as you say, it is the biggest listing in tokyo in more than four years. >> shares are marketed at a tough time. >> exactly. this is the banking arm of the e-commerce giant rakuten and it went through this process when we were seeing issues with svb bank, credit suisse, so raising

we see governor ueda progressing conservatively going into his first meeting.on is can the boj afford not to tweak for now? >> i think from a fundamental perspective there is an argument to tweak. if you look at japan's core inflation, it has been accelerating every month since last year. the latest number is 3.5, way above the boj inflation target. we saw the trade deficit widening and it could widen further. a stronger yen will help that as well. but of course, it is not just about japan's fundamentals. if you look around the world, there is global banking turmoil that is concerned japan. they did not want japanese banks to face the same issue, so they will take their time to leave the y cc. shery: we have seen the 10 year jgb yield pretty stable at just below the upper limit of .5%, but what are the implications for the bonds? >> last year, remember all of the global yields were surging, and that is part of the reason why that boj 10-year yield as been up to 0.5. that is when boj is facing the largest pressure. now we are seeing global yields coming off. we

there was some anticipation that ueda would list to the side on that, but with those jobs numbers onu.s., setting yields back and traders forcefully pricing with a chance of a fed hike next month. we have cpi coming in a couple of days out of the u.s. that could drive that further. in that overall contacts, a fair bit of yen weakness makes sense. you have drivers from both sides on the monetary -- in them monetary policy area. you have concerns about the fundamentals, the persistent trade deficit these days in japan, the weakness in the economy, there are lots of reasons to push back against what may have become an overly bullish consensus on the yen, that the worst was behind it and that they did not have to worry about it going significantly weaker from here. we had a course correction on that front, the yen is a two-sided play here, it could get stronger if we get haven demand, if we get global consent -- recession concerns. if we get a more hawkish fed than many are expecting and the boj six to the dovish tack take -- tactic that they have been sinking to, you could see the yen g

haslinda: governor ueda in focus. thank you.e first word news with vonnie quinn in new york. vonnie: taiwan has demanded a plan led by kevin mccarthy. china has vowed to take resolute measures in response. sources tell bloomberg they believe china's reaction may be more muted than it was last august when then house speaker nancy pelosi visited taiwan. the u.s. military says the suspected chinese spy balloon shutdown in february had gathered intelligence from military sites. however, the u.s. was able to limit what it collected. nbc news earlier reported that china was able to transmit information from the balloon in real time. but the pentagon says the military took actions to ensure that china gained little value from it. nato allies are being urged to collectively pitch in more than $500 million a year to help provide ukraine with nonlethal aid in its war effort. bloomberg sources say the push by nato chief stoltenberg would include funding for fuel, protective equipment and anti-drone systems. it comes as nato foreign ministe

policy from super accommodative to tighter which is what everybody expected when the new boj governor ueda came in. he gave a pre-conference and stick on the super accommodative policy which helped the nikkei how does that factor >> it is interesting you bring that up. i never heard buffett mention those things i had conversations with him about it it is a fair point he is not somebody who ignores the macro, particularly what any central bank may be doing. that is a factor in the investments he made in the united states in the last decade plus that is watching the central bank i don't know if that factored in here he has never mentioned that to me it has never been at top of mind with these things. it is worth questioning tomorrow if you look at the united states and the federal reserve has been doing, he talked about how when you look at interest rates, they act like gravity when interest rates are low, there's not a lot of gravity pushing down on equity prices. i'm not sure how he factored in the bank of japan. >> so you want to get out more from omaha let's see there are other stops. im