UK, Prime Minister, China discussed on BTV Simulcast
Soda Muhammed. The fifth is stepping down. Immediately. Amal a Palestinian gave no reason. It follows media reports of ill health and a race it marriage to a former Russian beauty Queen the position is mostly ceremonial potholed, some discretionary powers Sultan Muhammad and Anwar Ibrahim who is in line to be Malaysia's next prime minister. Global news twenty four hours a day on and a talk on Twitter by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm rule. This is Bloomberg history. At for check on the markets. Annabel investors. Finally, remembering where that by Boston is we are seeing some very solid gains across Asian markets today. It's a confluence of factors. The soothing comments from Jay Powell to the markets over on Friday. I should say the jobs report that we had coming through from the US as well. And then that triple cut coming through from China, mlive strategists also saying it's a little bit of people. Having a fear of missing out on this rally. You can see the Nikkei leading gains in Asia two point seven percent. Although off the early against of the day when it was up by about three point six percent after falling on Friday when it played catch up to that new year, sell you can say a lot of the AM's doing very well astray Elliot's market closing higher by over one percent. And then we know what's happening in the oil market. You're saying some very solid gains coming through in metals today Yousef as well. Caught up by over three percent on by the L A and Shanghai futures. Again, there of about one point two percents. So it's finally looking quite positive for Asian investors. At least for today. Yeah. Julia. We've been talking about how risk appetite is creeping back into a lot of these asset classes, I'm looking at currencies quite a bit of a spike in Asian affects the weakness in the dollar really a reflection of that what what's been a standard for you. Well, the intonation repair is having a very solid session up by one point seven percent. And we've actually saying Indonesia and ten year bonds at their highest level since may last year, China, of course, easing monetary policy giving that boost to risk assets. You've got the ru pay up by six tenths of one percent. The higher oil price helping things out along there. And we are hearing that the governor daas will meet with reporters at one PM daily, Tom. So no doubt we'll hear a little bit more about the central bank's thinking between nineteen. And of course, moves in the brew pain that fem oil price, boosting the ring to Fhimah by six tenths of one percent, and you can say pretty much every Asian currency is high the Japanese yen up by two tenths of one percent is actually the front runner in terms of J ten currencies against the dilemmas. Juliette? Thank you very much. Now, the UK Prime Minister Theresa may has stepped up her battle to persuade the British parliament tobacco Brexit deal. She promised more details of the plan in coming days wanted to UK would be in unchartered territory. Lawmakers reject her plan next week speaking to the BBC the PM once again ruled on calling a snap election. What I've I've been clear with my colleagues. I was came before Christmas with my colleagues the two things one. I'm not going to call a snap election. And Secondly that are not going to be leading the party into the twenty two general election. Let's bring in Michaela lamarcus in. She is the group chief economist that society in general, great to have you with us in the region. Great and uncharted territory. Is what the prime minister is referring to. So where do you stand at the moment in times of economic risk? Is there a recession risk if we have a hard? Rex it in your view. Absolutely. Yes. I think if we look at the economic implications of of Brexit there the the slower moving factors of Brexit, which will do long-term damage to the UK economy, and our estimate is that Brexit will end up costing anywhere from half to full point of trend potential growth for the UK, depending on what sort of future arrangement. The UK receives. Then there's the short-term aspect of the distinction between a hard Brexit, self Brexit, and potentially. No Brexit at all which will make a big difference in the event of a hard Brexit. What will really mattress degree of preparedness that we have seen a step up preparedness both on the UK side and on the European Union side in in in the event of a hard Brexit, but we asked. That if things were to go really wrong, we could see the UK plunge into a recession over the coming quarters on the event of a hard Brexit. But I also think what we have to see in the current situation. As.