President Trump, Senate, Bloomberg discussed on Bloomberg Daybreak: Asia


You every quarter hour on Bloomberg. Daybreak Asia, But we mentioned that Bitcoin pulled back a little after soaring up to 28,000 yesterday. Yeah, the crypto currency is trading now. Right around 26,880. So just a little bit of a modest pullback there, and also that Alabama stabilized in the U. S session. Eight ers, they're traded up 2/10 of 1%. And we'll be looking at the Asian markets because we had a pretty torrid sell off in tech yesterday, it was ah, very interesting day they hang sang Tech index down for a quarter percent, whereas the Hang Seng Index was just down 3/10 of 1% and most of the rest of the region was down. So this morning, the major inputs the House voting to replace the $600 stimulus payments in the new pandemic legislation with $2000 checks and also the House voting to override President Trump's veto of Defense policy bill, probably neither of those really affecting markets all that much because of the implications for markets and also that the Senate will will likely not make that same movement of 600 up to 2000. We'll keep a close eye on it for you. What we do. See this morning is the Nikkei up 9/10 of 1%, Theus, Sex and Sydney is rallied about 8/10 of a percent as well on the Cosby Has picked up about 3/10 of 1%. The dollar is little weaker here down 2/10 of a percent. That's bullish for assets here, Dolly in 103 73, and we've got the euro trading a dollar 20 to 31. Couple of other quick notes Goldman Sachs, raising its predictions for first quarter GDP because of this boost in stimulus, and the DAX in Germany also sort of a record. We have Treasuries dipping little right now. The yield on the 10 year 93 basis points 19 minutes past the hour, and Baxter has news in San Francisco. It Yeah, it looks like you're right, Brian about the markets, figuring out that the Senate's not going to go for the The boost to $2000. Politically, though that and especially the House override of the veto of his defense policy bill have pull a vast political implications. This is a large defeat for Mr Trump. House Republicans had to turn against him on this and you don't know what's going to happen in the Senate. Because the Senate on this the vote was overwhelmingly in favor of it, and Mr Trump just went right up in the face of Republicans, including Mitch McConnell. So the veto override something to really watch politically. The House giving bipartisan support to boosting the relief checks to 2000 House Republicans voted against leadership. There is well so that has this is really an interesting day politically on day, Senator David Perdue had called Mr Trump on Christmas Day to plead with him to sign the bill, saying it was hurting his chances to win the Senate. Special runoff in Georgia. So Mr Trump is not going quietly. President Elect Joe Biden says his teams they're flat out being blocked from getting transition information from the Department of Defense and up on the Bloomberg terminal. A very interesting story that, says Kim Jong UN Is much more dangerous now heading out of the Trump administration that he was going in. Even after all the sanctions in San Francisco I met Baxter. This is Bloomberg. Julia. Thanks so much and let's get back to David Ivan. See Io of Copernic Global investors on the line for us from Tampa, Florida. We've got their careers cost be trading at record's Fidelity yesterday, saying Very positive on select tech stocks, particularly in South Korea and Taiwan. On I noticed one of your top picks as well is careers version of Arise on, Tell us about that. Certainly as interesting how six months ago Correa was very, very cheap. Now it's started to run, but it's still we like to look at what is a Their value for a phone company. And you could look it on earnings or look at the value per customer of the fire. You name it. If we look at Korea Telecom versus Verizon and both cases we see good, Cos we c try up, Elise. We see world class technology. We see an industry was the last thing that people are gonna let go their cell phone service, and yet we could buy Korea Telecom and a big discount the book value versus no tangible book for Verizon. A single digit P versus double digit for arise and nice dividend for both, So we like the fact that we can get equivalent company for a much, much cheaper price by being willing to invest in in Korea. Are you looking at all as well in Taiwan as well, for some of these, you know, building blocks for processing, power and storage. We don't have a lot in Taiwan right now that we are always looking across the whole world. And so we've been Finding a lot of things in Korea, Of course, but in Brazil and Russia and amnesia way look a good companies and look for whichever place in the world, maybe still in the middle discount to what they're worth. All right. We're talking gold earlier. The commodity itself. But let's talk about some of your picks in this space as well Sent. Terror is gold producing company that operates in a number of Countries that's on your list. You want mass gold. There's a lot of reasons to lie, but gold in the ground is valued even cheaper. Where is gold's about where it was back in 2011. Gold stocks are a lot cheaper. We turned elect Cos legs and terror that have lots of reserves. People have not been finding much gold for the last few decades, and so owning a lot of gold, we think is a big advantage. The company's been pretty smart. They've got a good mind in Kurdistan for a long time, and that continues to do pretty well for them that they've been pretty opportunistic about buying properties in Canada while back they have properties in Turkey. They're for interesting. So we have a lot of companies like that. One that have lots of gold in the ground and should be producing for many years. Producing for many years is important because there's good reason to think the price ago could go higher. And so long live reserves gives you a lot of optionality for free. It's not a question that we ask a lot, but it's sort of coming up a lot recently. And that is whether or not people are looking at Bitcoin because there's some pretty bold calls out there. Are you looking at the crypto space, it'll It's a very interesting space when you have Keeley Infinity here, and people are printing Fiat currencies across the world. We understand why people are looking for more reliable stores of value. So there's a lot to like Bitcoin, however, were Bitcoins got.

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