24 Burst results for "BOJ"

Fresh update on "boj" discussed on Bloomberg Daybreak Europe

Bloomberg Daybreak Europe

01:44 min | 15 hrs ago

Fresh update on "boj" discussed on Bloomberg Daybreak Europe

"Now it's 9 40 a.m. here in London. I'm Caroline hep can we take the market throughout the day on Bloomberg European stocks slipping this morning down 8 tenths of 1% after they closed in. Bull market on Friday 3100 also hit a record high on Friday, but actually it's currently down by 8 tenths of 1%. Pulled lower by the concerns around the hot jobs report we had out of the U.S. and the Federal Reserve staying hawkish also there are these tensions building between the U.S. and China, not just about the air balloon that the or the balloon that the U.S. shot down, but also perhaps around further retaliation, further measures by president Joe Biden, Chinese stock saw some big declines this morning on the hang seng, for example, dropping more than 2% in the CSI 300 also lower Adani group shares have also been falling again on Monday, at some P 500 evening futures this morning are down by 7 tenths of 1% NASDAQ features down by 8 tenths, but some big moves in the bond market certainly for Italian BTP soaring 11 basis points on the tenure at four 13, a UK guilt yield up ten basis points and 5 basis point jump for ten year U.S. yields at three 57 in the FX markets Bloomberg dollar spot index is now stronger three tenths of 1% and the Japanese yen which has well been quite kind of pummeled this morning in both directions is now down by half of 1% this morning speculation around who will take over as a BOJ governor after haruhiko Corona leaves in April. That is a look at your markets, your Bloomberg radio business flash. Now let's get over to Louise moon who has a global news briefing for us good morning. Good morning, one of the most powerful earthquakes to hit the Middle East in years had killed scores of people in turkey and Syria and trapped hundreds more. The quake struck before dawn with a magnitude of 7.7 and an epicenter near the Turkish city of ghazali 'cause an antique. Authorities have said 284 people were killed in turkey and 237 in Syria. Destruction was concentrated in border areas that house millions of refugees. Now the G 7 and EU's $100 a barrel price cap on Russian diesel has taken effect It aims to limit Moscow's revenues. A G 7 statement says the cap applies to petroleum products trading at a premium to crude. The western groups also back a limit of $45 for those that sell at a discount such as fuel oil. They were also delay reviewing a $60 cap on Russian crude until March. And Beyoncé has won four Grammy Awards to total 32 so far across her career and breaking a record for the most wins of any artist in history. The pop mega star won best dance electronic album for renaissance. But despite her success, she was once again locked out of the coveted album of the year award. That went to Harry Styles. Global news powered by more than 2700 journalists and analysts in over 120 countries. I'm Louise moon. This is Bloomberg, Caroline. Thank you so much. Luis for that roundup of world news stories. Right, let's move on and talk about the markets then this morning. Jeffrey, who is senior emir market strategist at the Bank of New York Mellon joins us in the studio. Great to have you with us. Jeffrey, let's start just thinking about the beginning of this year. There was such a kind of rally in everything. That seems to have slowed a little bit now. Surely that is not the pace of the rest of the year. Well, I think it's actually too early to tell. If we look at the pain trade and the amount of cash on the sidelines in a right now we look at our own flow data, look at the investment company data, the investment company institute data. So there's a lot of cash waiting to be deployed. So I think one kind of adjustment markets will need to make right now and you're rightly or wrongly is good news good news because we're Fridays and payrolls number in the U.S. economy is actually doing quite well. We've got China reopening. Eurozone also in a better place. Something that the ECB has signaled. So shouldn't this be positive for earnings, especially wage growth doesn't go through the roof and it would be positive for margins as well. So why is that a reason to still consider good news as bad news? So I think that adjustment is still needed. Because it seems too good, Jeffrey. I mean, to some degree, it's like, why can this labor market continue to hold up? I mean, do we just throw out every model we have? Are we somewhere different on the Phillips curve that we never have been before? I mean, how do you buy the narrative of immaculate disinflation? Well, I think after the great moderation of ten 15 years ago, we really need to be aware of, you know, those kind of supposed to be secular trends. But going back to the structure of the labor market, I think one thing, for example, the UK in the U.S. has in common is a labor supply seems to have fallen. On a cyclical level or a structural level, it's too early to tell, but right now there's a shortage of workers for services and driven economies and let's be clear now these shortages are not going to go away. Anytime soon, I gave the example of say Thailand, for example. So this is an economy that is well tuned to scale up their tourism up and down. But you've gone from maybe expecting several dozen, a 100,000 Chinese tourist a year to several million. So even for a country with such strong infrastructure, for tourism as Thailand will need to adjust that. Let alone for, I would say more rigid structures in a developed way where you have no more I would say a hoops don't actually jump through to get that kind of flexibility. But overall, this is something that central banks have warned about. It's not going to go away anytime in the future, which also means high real rates. They are less than not going to go anywhere in the near future as well, and maybe that's the negative side of things. Okay, so then are you pricing in interest rate cuts from the fed later this year? Absolutely not. So this is a view that we have held, so when we're pushing them are a year ahead outlook towards the end of last year, we weren't gunning for very, very high terminal rates or anything like that. 5% in a 5 and a quarter, something we were comfortable with that our view was the fed is not going to be in a position to cut rates anytime the near future. And I think just based on the latest data, we're very comfortable with that view. I wonder just to get back to sort of the positioning conversation with a lot of cash on the sidelines. If we look at, for example, last year, a lot of these macro funds did so well shorting bonds. Shorting everything essentially. Does that mean that the pain trade is still equities up bond prices up? So for equities up that clearly is a pain trade level. Now, for bond prices, I think there's need to be some degree of differentiation. So say for the U.S., so for example, you go back to you pass through the labor report at least wage growth isn't going sky high. So I think in that sense, if you can get positive real rates and that's the only positive for bond prices, that helps in the longer end as well. It really attracts investors of all sorts, especially for the international flow, which in the matters for treasury markets. That certainly is something to look at some other economies. I think the UK in particular, that

Louise Moon U.S. Caroline Hep President Joe Biden Adani Group Haruhiko Corona Ghazali Bloomberg Beyoncé Jeffrey Syria Turkey BOJ FED Harry Styles
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:16 min | 22 hrs ago

"boj" Discussed on Bloomberg Radio New York

"Dinwiddie and unprotected 2029 first round draft pick, as well as second round picks in 2027 and 29. I'm Dan Schwartzman that your Bloomberg world sports update Doug. All right, Danny, thank you. Here we are going to take a closer look at this story coming out of Japan reported by the nikkei that the Japanese government has identified a candidate to become the next governor succeeding Hari hiku kuroda as the main governor of the BOJ. There are two deputies. One reported by the nikkei has been approached by the Japanese government. He is masayoshi, amamiya. Let's bring in Bloomberg's global news economics and policy editor Kathleen Hayes. I guess you were in Tokyo what about two weeks ago to cover the BOJ story and I'm sure this this subject of Succession came up during your conversations there. It's been coming up for a while now. Yeah, yeah. What do you make of the story? Well, he is considered by many the leading contender. The second in line for being leading is Hiroshi nakaso. What do they hold in common? Well, they've both been deputy governors. Was deputy governor in governor Crozier. First term, he's the one who's stepping down as governor and I'm a Mia. Has been in his job deputy governor for the last four and a half years. His term is ending as well. Now, in a Bloomberg survey, mister amamiya got 25 out of 43 votes for being the person who's mostly going to get selected. And what's special about him is he's a BOJ lifer. He's been there since 1979. And he has had his hand in all of the easing steps taken even before Corona got in place. But in this quote a term, he has been he's apparently been the architect pretty much of all the big steps, negative rates, quantitative and qualitative easing, keeping boosting that and yield curve control. This is the lead man on those steps. So that's one of the I think we'll put that all together. You're worried about making a transition when and if the BOJ has to make it, I guess you'd say, why not have the guy who invented a lot of this stuff and who's been there so long be the person to guide you ahead? The markets had some thoughts to express on. This is the year weakening significantly one 32 13 right now. Does this mean the BOJ is Davis forever? When might we expect to see a pivot? When inflation is sustainably above 2% and that's what they made after doing the tweak in December to widen that YCC ban to .5 from .25 on either side of zero, come January meeting. Oh, no, that was technical. We're just trying to keep the bond market functioning. And it's way too early to think about removing stimulus because we don't know what's going to happen to inflation and we do it. We don't even expect it to average or in the year at 2%, even though it's 4% now. There's four now, yeah, we were talking earlier with the guest about the impact of the China reopening one example of China essentially exporting inflation to Japan Vis-à-vis a lot of the tourists and also as our David finity pointed out, we still have negotiations wage contracts that are going to be. The springwater negotiations, yes. And so that could be if there are much more in the way of wage increases that are the outcome of that, boost inflation above the 4% now. But Bloomberg is also reporting that some reporters ask suniti Suzuki, the finance minister of who wrote anything about the nomination of Amaya. He said, no, he had not. This is kind of tricky because this is coming out of the new K and I guess they're not pushing back on that a little bit. This story from the nikkei saying that yes, he was the Mamma Mia! has been approached by the ruling Democratic Party leaders to about taking the job. And now the deputy chief of staff in the kishi da team is saying that's not true that he was approached. Now Doug, and Paul, I think there may be some semantics here. Is it like formal? Well, yeah. Formally approached or what is it approach? Did we just call him and talk to him or maybe and finally, there's no stories about has anybody else been approached? This is my question, just because could you approach amamiya and approach mister nakaso and maybe even somebody else? So but the nikkei as we all know, very, very respected news organization. So this happened so if you're a journalist, you know this can happen. Very quickly, Kathleen, what happens next in the process here? Well, by the middle of the month easily, we should know, we'll get the announcement who the nominee for governor and the two deputy governors, then probably by just after that, if it's middle of the month and feb 2021 ish, we'll have the hearings before the diet, the parliament. That's what's expected now. If things go as they usually do. All right, and we've got a yen weaker against the greenback by around 7 tenths of 1%. We had been as weak as one 32 50 early in Asian trading, so we've gained a little bit of strength

BOJ Japanese government Bloomberg amamiya Dan Schwartzman Hari hiku kuroda masayoshi Kathleen Hayes Hiroshi nakaso governor Crozier mister amamiya Dinwiddie Doug Japan David finity Danny Tokyo suniti Suzuki
Fresh update on "boj" discussed on Bloomberg Daybreak Europe

Bloomberg Daybreak Europe

00:55 min | 18 hrs ago

Fresh update on "boj" discussed on Bloomberg Daybreak Europe

"Daybreak Europe time to check the markets for you. So the yen tumbles, thanks to rumors about a new BOJ governor and there's a lot more pain for adani stocks this morning, so in terms of the Japanese yen is down half of 1% 131 85. This as the potentially the depths you governor of the BOJ, it is in pole position to take over from haruhiko kuroda. The Nic 82 5 is up by 7 tenths of 1% this morning, having said that most of the rest of the Asian markets in terms of equities are selling off the hang sengs down by 2.2% MSCI Asia Pacific index drops one and a half percent and the CSI 300 down one and a half percent, and this is tensions between the U.S. and China over a suspected spy balloon ramp up tensions with the possibility thought that president Joe Biden may retaliate in a bigger way against China. In terms of the other markets then all ten adani group stocks falling in early trading this Monday morning, looking at futures for Europe despite the record high for the FTSE 100 futures are down three attempts to your stock 50 features also dropping 7 tenths of 1% and benchmark U.S. yields

BOJ Adani Haruhiko Kuroda Europe President Joe Biden Asia Pacific Adani Group China U.S.
"boj" Discussed on Bitcoin Magazine Podcast

Bitcoin Magazine Podcast

03:42 min | 6 d ago

"boj" Discussed on Bitcoin Magazine Podcast

"They're like, oh, Japan is so different. It's an export economy where the U.S. is import economy and all this stuff. Well, their machine orders fell 8% month over month. That is unbelievably bad. They expected 1% and it fell 8% year over year. It's almost 4% declined on their machine orders. This is very, very bad news for Japan. So it's not only they're dealing with their highest CPI in a long time, which I think their CPI hit like, I think it finally hit 2%, but they're also dealing with collapsing economy. So that is that. And any comments on that, CK before we go into a broader article on this. I would just give a little additional context from what I see on the streets I have a friend. He runs a bunch of different dealerships in the Bay Area and the cheap Asian cars. They're not moving because interest rates are higher here. And the type of person that would get those cars would typically get financing. And now that it's a worse deal. So and this is happening in a big way. So I'm not shocked that it's affecting the exports of Japan because that automobiles are one of the biggest there. Absolutely. Absolutely. Yeah, so I have article for Bloomberg on the next slide is just a screenshot of the headline here. BOJ record suggests high hopes for expanded fund operations. And I just wanted to read through a little bit of this article. So, quote, it is expected that continuing with nimble conduct of market operations while making use of the funds supplying operations against pooled collateral will improve market functioning one member of the BOJ committee set. Corona and his board pushed back against intensified speculation for policy adjustments at the January gathering. By keeping its main policy levers unchanged and doubling down on its defense of the yield curve control program. The BOJ's ten year yield target has come down below its ceiling of 0.5% following the decision. And if you go to the next slide, Chris, I do have a chart of the ten year government bond over there in Japan, and you can see the new higher red line horizontal line is the new ceiling. They've been having a lot of trouble at the end of last year to keep it below that, but after this January meeting, just last week, the rate did come down quite dramatically so back down to 40 basis points. It is approaching back up to 50 basis points again, but at least, like I said, they won the battle, but they haven't won the war. All right, continuing with this article CK jumping in. Okay, I was just gonna say that that chart that makes that comment make a lot of sense when you look at that chart that, yeah, sure they brought it down, but you know, it's not the end. It's not over yet, for sure. Absolutely. And the Japanese have been the most creative when it comes to monetary policy. A lot of people say like, oh, I mean, I have been known to say this that, oh, you want to know what is going to go on with the fed in 5 years, just look at what Japan is doing today, because they are constantly at the forefront of this monetary policy stuff. So okay, let's continue with this article. It hopes for the fund operation shifts impact suggests the BOJ may not be seeking any major changes to improve market functioning soon as indicated by Corona at a post meeting press conference. This month the bank decided to expand the funding program by allowing itself to determine lending rates for each operation.

BOJ Japan Bay Area Bloomberg U.S. Corona Chris fed
Fresh update on "boj" discussed on BTV Simulcast

BTV Simulcast

00:30 min | 20 hrs ago

Fresh update on "boj" discussed on BTV Simulcast

"To the lowest since 1969. What does this mean for the fence fine against inflation? It's got 9 a.m. across the emergency use of humanitarian Dubai. Right back alongside you. FX is going to be a really important use of a track on the lira as volume builds up there. But to dollar yet, I mean, the road to hell is paid by good intentions really for the fed in terms of delivering those rate cuts of spoiler alert from the jobs report. Of course, interrupted everything. That reasserted the musculature of the dollar, but the yen this morning tanks. This is dollar rising. This is the year falling, as we know, understand or sources tell us that my Yoshi amia may be replacing Corona when the announcement comes through. He's the continuity candidate. He was part of the architecture of yield curve control and unorthodox monetary policy. And of course, nor DSA, look, you've got to readjust your expectations here by the abandoning of an ultra loose policy. What does that mean? Have a look at the dollar board overall. JPMorgan say, the jobs data will not change the pro growth currency drive that they have. They want to be long high beta, which is Ozzy, which is cad and indeed Korean wants. You are looking at that hot roll jobs report on Friday reasserting king dollar putting 2% on in three days. The question is, does that continue? To the oil market, I mean, we were jolted on Friday the stronger dollar delivered a lower oil market principle as it's been Salman. We hear more of that from our reporter in just a moment. I believe it when I see it and take action. That is in regards to any change from OPEC plus down when the dying went the oil on Friday. She steadies this morning, but fatty bero will hear more from him as well, talks about a stronger demand and Goldman's talk about the musculature of a $100 oil on the way. I mean, we keep talking about earnings and earnings, but the reality is all that matters is the fed and it is the great stock market disconnect of 2023. That's maybe one way to comment on the S&P 500 mini. We're looking to extend some of the declines on Friday by about two fifths of 1%. Blue book intelligence makes clear that so far what we've seen in terms of guidance cuts in the first quarter, while it's been cut by the most since at least 2010, S&P 500 is now looking at negative profit growth of more than 1% for the year. The market's life deep says the equity market continues to get a whole lot of love, but it is looking increasingly overinflated. I want to flip the board, talk about Bond, to big moves that we saw on late Friday. This surge after the blockbuster January employment growth that we got. You can get the perspective here on your 5 year yield, which jumped 17.1 basis points. You also saw quite a bit of the swap contracts getting repriced. So that extended across the whole Bond space. And we're going to take a look at this board here for additional perspective because you saw the big move in two years. That rose by as much as 21 basis points to 4.315%. I'm looking at some of the events for the week and I'm thinking we're looking at State of the Union in terms of the next potential marker. Are we going to get an update on the budget? Are we going to get a reference to some of the tensions with China? So if you are looking for something to shake up things once again after things were shaking up on the Friday, that event would be at mass. Indeed, well let's see how the rest of those Asian markets are performing. If old man is in Hong Kong, head on. Man, as you mentioned, FX certainly in focus here today, especially as you mentioned, that spike up in dollar yen. Can you trust this dollar rally is a key question here today on the back of that amami and news that you mentioned that impressive job support out of the U.S. and then you add the whole Chinese balloon situation and deterring conditions when it comes to U.S. China relations. So that was the jobs report for Dorian. That was Emma Mia, then you have some of these BOJ members, cabinet members talking down and say, look, we didn't hear anything about a BOJ nomination as of yet. So we are still seeing quite a bit of weakness across our yen or such as a yen here across not just a dollar, but most of its major peers as well. You take a look how Asian markets are doing, at least that weaker young story is lifting the Nike here today and equities are bit up here in Tokyo, but certainly the rest of the region looks pretty dire. Just given what you mentioned here, the dollar strength certainly is weighing on sentiment, banks as well are falling out on the back of that BOJ news. And the hangs that you're seeing a lot of those losses, two and a half percent to the downside, a lot of questions on what is next after that reopening trade. Is this really more of a broader cyclical growth story when it comes to China? But I think investors after becoming so bullish and so optimistic for the last few weeks or so, our starting to kind of pause and be like, wait and see, because we've actually seen overseas funds, net sellers of Chinese stocks for a second day snapping out of 17 straight sessions on Friday. And we are seeing the CSI 300 down about 1.6%. Take a look when it comes to India though, that's still the big corporate story here this week. Starting today, we're starting to see a lot of these adani group companies that are going to start reporting earnings. So that could be the next sort of catalyst here when it comes to where Indian markets are going to go, but you're seeing most, if not all of adani group shares in the red here once again, over the weekend, you had officials trying to calm investor nerves. That seems to be falling on deaf ears after that was a fresh blowback and a fundraising of plan here. They shelved this bond sale according to our reporting. And then S&P downgrading two of the companies with a negative outlook. So you are seeing continued red here as we enter the third week of this crisis with a Donny menace. Yvonne yeah, it certainly is a painful trade that doesn't seem to be dissipating at all. In Hong Kong. A powerful earthquake has struck southern turkey with apartment buildings collapsing in several provinces. Many deaths are feared. Let's get to our reporter for Bloomberg it is 7 damaged and she joins us now from Istanbul on the line. What more do we know the scale and the size of this earthquake? It's quite a high magnitude. We understand that I'm a 110 people so far have lost their lives in turkey, the details. Good day. Man, it's ty. Yeah, 7.4 earthquakes, but epicenter near the town of gaziantep, which is in the southeastern region of turkey near the Syrian border. Now the earthquake was felt as far as Lebanon, Cyprus, Iraq, Egypt, and Israel. And aftershocks are continuing across the region. Now the powerful earthquake struck at 4 a.m. on Monday morning. As you said, so far, hundred people are reported dead in both turkey and Syria. 76 dead here in turkey with more than 400 injured. And

Fatty Bero BOJ FED Jpmorgan Ozzy Emma Mia Salman Opec Dubai China Goldman U.S. Hong Kong Adani
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:15 min | 2 weeks ago

"boj" Discussed on Bloomberg Radio New York

"Now, just a touch on the 70 U.S. cents is indicative by the weakening U.S. dollar, but also the strengthening commodity price complex. And that's definitely a leading indicator for us. But it's certainly something we can't ignore. But let's not get ahead of ourselves as well. This is a very early start to 2023. We are expecting to see some more volatility. In front of us from an equity market perspective. So it's certainly not a hockey stick style chart in terms of the recovery. It's definitely going to be a bumpy road, but maybe the bumps are just going to be shallow. Martin, what are your clients asking you about Japan and how investable are you telling them it is? Well, you know, at the end of the day, we're watching the yen very, very closely. It says key for investing, obviously, going forward. Obviously, we'd like to see the Japanese economy start to pick up and under the under the influence of a global growth slowdown. That's hard to see when you've got Europe and the U.S.. The sign. But we'd certainly do obviously well third largest economy. We do a huge pain very important for investment perspective. And in particular in thematic investing process around the areas of cybersecurity investing in areas such as robotics and AI. So that's to some extent I've been focused for us on Japan on the monitor. In terms of the inflation story in Japan, one of the things we've been tracking closely is whether or not the BOJ kind of abandons yield curve control. Very quickly, 30 seconds or so. Is that a bet that you would make that the BOJ kind of sticks to its guns right now or they begin to adjust things further? Look, it's possible that adjust things further, but I think it's always mistake to be better against central banks. So I think you've got to gauge that they'll go with their current policy and that's how they want to manage the interest rates settings in the Japan. It's very interesting that core consumer inflation in Japan was at a 41 year high in the month of December. You got to wonder whether we've reached a new paradigm there in Japan. Martin, thanks for being with us. Martin Lake cost is division director at Macquarie private bank joining here on daybreak, Asia, as we leave you for this segment. We are looking at a rally in the equity market in Japan with an EK higher

U.S. Japan BOJ hockey Martin Europe Martin Lake Macquarie private bank Asia
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:34 min | 2 weeks ago

"boj" Discussed on Bloomberg Radio New York

"Sydney, one minute past 11 Wednesday morning. Here the a 6 looking kind of flat, but is the BOJ center stage today for a closer look at markets. He is a Bloomberg's Brian Curtis Brian. Yes, Paul, that will be coming a little bit later. The market's very unsure what to expect here. We have dollar again pretty stable this morning. The dollar was a little bit weaker. The yen pretty steady. Dolly in at one 28 32, the Bloomberg dollar spot index is essentially flat. The Euro is at a dollar 7 85 and the Aussie dollar getting ever so close to 70 U.S. sent 69 90 here at the moment. I think there's a little bit of a battle playing out in markets right now about whether or not the enthusiasm at the start of the year is cooling. You know, genuinely cooling because of conditions out there or whether this is some profit taking after a pretty good run. We did have some weakness seen in terms of the China economy yesterday and that was only 3% growth last year. However, for many people, it's just something that you have to set aside the rearview mirror type of thing because you've got the reopening sort of on steroids at the moment. So you have to wait and see how the Chinese economy develops and whether or not the U.S. and Europe slips into recession Right now the yield on the ten year treasury at 3.54% and crude oil back up over $80 or $80 and 69 cents a barrel. Dug to you. All right, Brian, thanks, well, Chinese vice premier Leah was making news today at the World Economic Forum in Davos Switzerland. Liu said that China's economy will likely rebound to its pre-pandemic growth trend this year and he said, life in the country has been restored to normal. Now, Lou added, be confections have passed. That, of course, follows the lifting of the pandemic restrictions. He also said the focus this year will be on boosting demand, and that in turn will lead to a notable increase in imports. Now, importantly, Lou did address international concern over Beijing, turning away from globalization to focus on self sufficiency. China's fundamental national reality dictates that opening up to the world is a must. We must open up wider and make it work better. We oppose unilateralism and protectionism. We also hope to strengthen international cooperation jointly maintain the stable development of the world economy and promote economic re globalization. That is Chinese vice premier Aaliyah her through a translator, by the way, Liu also is set to meet with US Treasury secretary Janet Yellen later in the week. Now the Treasury Department said the pair will discuss views on macroeconomic developments and other economic issues. Paul? Well, the bank of Japan, of course, delivers a much away to policy decision today, most economists do expect no major change. Yes, most economists expect a hold. But an unusually high number of observers say they can not rule out changes to yield curve control policies. Last month, the Central Bank widened its target ban on the ten year JGB to 50 basis points, analysts say a further expansion to 75 or even higher as possible even ditching the policy altogether could be considered. It depends on how to be OG reads the economy prices and financial markets will get the decision later today and traders are betting on a possible swing of get this 2% in dollar yen in Hong Kong. I'm David ingles, debris. So stateside we have the disappointing results from Goldman Sachs kind of clouding the market a bit and weighing on sentiment, Goldman posted a bigger than expected increase than analyst expenses are inexpensive I should say than analysts had expected. Fourth quarter compensation cost 3.8 billion 16% higher than the same period last year, obviously it's an indication the bank's leadership was too conservative with what it set aside for pay in the first 9 months of last year. Goldman has also poured billions of dollars into its retail effort. CEO David Solomon says that also contributing to this an industry wide slowdown has his clients worried. Tell me they are cautious, particularly for the near term. Are we thinking business opportunities and would like to see more stability before committing to longer term plans? Many firms have started preparing for tougher times focusing on factors within their control. Today, Goldman shares were down 6 and a half percent Paul. It is 5 minutes past the hour. Let's get a check of global news

Brian Curtis Brian BOJ China Liu Lou US Treasury U.S. Janet Yellen Dolly Bloomberg Paul World Economic Forum Sydney Davos Leah Goldman
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:59 min | 3 weeks ago

"boj" Discussed on Bloomberg Radio New York

"Question I think that the market is asking and that's why we're pricing in cuts in the second half of the year. That's really interesting Valerie, isn't it? So your argument is and one that we've heard from some beneficials as you say is that as inflation falls, the impact of the rate increases we've sort of seen to date, increases on the economy. So that's an interesting one. So we'll continue to watch that because I know not everybody I know mark up more, for example, on the market side. It doesn't see the possibility of rate cuts. We'll watch how that develops interesting for 2023. Also interesting. The BOJ. Now we'll hear from them next week. Yes. Something next week we're going to get an abandonment of the yield curve control policy others think next week's too soon it'll be later in the year. Yes, the city came out actually saying they think they're going to pull the whole YCC yield curve control entirely, which would be a shock. If you think about just a month ago, we didn't even think that this was this was going to be possible. Any hawkish shift from the BOJ was going to be possible until Corona sit down in April. So there has been a huge shift in where we think the BOJ's policies likely to go and how fast. Now, I'm in the camp that I think next week's decision is too soon, but we did get all a lot of noise coming out earlier this week from local press in Japan that they are continuing to evaluate their strategy. And look, the city note said that it's almost saying that the damage to the BOJ as an institution could be smaller under governor kroda. So let's throw Corona under the bus. So that the new BOJ chief when they step in, they have a clean slate, and you think about Japanese culture, maybe that makes an argument. Maybe that's what's happening. I mean, they have shown that they're willing to surprise as well. Haven't they gallery? They certainly did that to us. In the supposedly quiet week for Christmas. Our markets report a Valerie title. Thank you very much. Let's get more in our top stories now from the ongoings. Steven, good morning to you and thank you the UK economy has defied shrinking expectations and grew last November. GDP rose 0.1% in the month of positive beat on The Economist estimate of 0.2% drop. The ONS has spending around the World Cup offset the impact of strikes. Now the Bank of England policymaker Catherine Mann says it may take a significant recession to tame inflation here in Britain when the BOE raised rates by 50 basis points to 3.5% last month, man alone voted for a 75 basis point hike. And finally, the Chinese government has set to take so called golden shares in units of tech giants Alibaba and Tencent, according to a corporate database, Beijing brought 1% of an Alibaba digital media subsidiary and that was last month. Global news 24 hours a day on air and on Bloomberg quicktake. Powered by more than 2700 journalists and analysts in more than 120 countries, I'm Leigh Anne guerin says, is Bloomberg Stephen. Leigh Anne, thank you very much coming up next more details on the latest UK GDP figures. Plus, the latest roundup of corporate news from Charles capel in the London rush stay with us for that. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest edition of the tape podcast, a conversation with Laura Martin of Needham. What's your Disney call here? So my Disney call is I think bob Iger is best in class at managing people. Both down and I think and I think up. So I think that we're gonna get a lot less drama at The Walt Disney Company, which I think is good for a content company. You know, Paul, they don't have a content. Their content, revenue is in other under the under bob shaping. How dismissive of what is the core business there that they build all of their other economic engines around. So I think we get a refocus on content, which I think is deserved. And I think he sells. I think The Walt Disney Company has been very unsuccessful at succession planning. And I think it's a hard job. It's almost an impossible job. Just like running a government in terms of the brand stringency. So I think Apple buys them. I think that is a good home for them. Really? I do. You think Apple? Even saying this for years that Apple should buy Disney. Yes, and he has said, if Steve Jobs had not died, I would, 'cause he was on his board, right? Yep. I would have sold Disney to Apple. That is a good fit. The government will make sure Apple says you can't make your content exclusive. That's smart for ten years. Like I did with NBC. You can't make this content exclusive when Comcast bought MDC. So for ten or 20 years, Apple won't be able to make Disney content exclusive, but at the end of the day, that is a good home. We've got a billion of the wealthiest consumers on earth in the Apple ecosystem. And the brands are completely brand consistent. And I just don't think there's a person out there that can run The Walt Disney Company. Bob Iger's got so many wonderful things on his resume. He's a nonstop. But a huge failure is the lack of Succession. Yeah, I agree. And it hurts his legacy. Yes. Because as a general manager, you need to have a bench and

BOJ Valerie Disney Alibaba Bank of England Catherine Mann Bloomberg Chinese government Leigh Anne guerin Bloomberg Stephen Charles capel Bob Iger Corona Laura Martin Apple Tencent
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:33 min | Last month

"boj" Discussed on Bloomberg Radio New York

"So markets in Japan are back online after a four day break in that period, the yen has strengthened by more than two and a half percent against the dollar and a short while ago, and announcement from the BOJ of unscheduled bond buying this is an operation that was or has been conducted for a fourth session as a way of reducing some of the speculation that has been building in markets that perhaps the BOJ is on the verge of scrapping yield curve control. You'll remember last month a bank of Japan doubled the cap on yields for the ten year JGB from 25 basis points all the way to 50 basis points. Currently, ten year JGB is trading with a yield of 40 basis points. And again, BOJ today with another unscheduled bond buying operation. The end right now flat against the greenback at one 31 spot zero two, but in the equity market, we've got the nikkei slumping by about the 1.2%. Pre market for the hang seng has us higher by about 9 tenths of 1% will get cash trading in about 7 minutes from now in Hong Kong when the market opens. Right now in Sydney, ASX 200 higher by about 1.3%, the cost is up a half of 1%. We'll take another look at markets in about 15 minutes from now. Head Baxter next with a look at global news headlines, Eddie All right, thank you very much, Doug history in the U.S. House of Representatives today, first time since 1923 that the House speaker hasn't been chosen on the first ballot

BOJ Japan Head Baxter Hong Kong Sydney Eddie U.S. House of Representatives Doug House
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:21 min | Last month

"boj" Discussed on Bloomberg Radio New York

"Mainly because of the housing channel that they were already reaching the point where they were saying, well, we can't keep being as aggressive as the fed in terms of hiking rates. So if you then start to see maybe a situation where if the market is right and they force the fed pivot doubly, but just at the BOJ start hiking, you could have the U.S. easing and the BOJ hiking, you could have the U.S. fed holding pat, but the BOC and the RBA starting to ease. So I actually think that 2023 is going to be fascinating for central banks and the different stages of the cycle they're at and how their reaction functions could actually vary potentially quite significantly. So how about some of these extraneous items? I'm thinking China. The rapid reopening of China that I'm not sure we thought would be this rapid, how does that fit into kind of your model and the way you guys kind of model out the big factors? Yes, that's in our defense. I would say we're not the only one struggling with this one. I think it doesn't matter if you've got a discretionary process or a systematic process. What's the factor that you can watch that will capture Beijing's political decisions around the speed of reopening and the U turn that they've pulled off is quite amazing. I think if there is a consensus, if it's going to be a bumpy ride, it's probably going to be one of these two steps forward one step back. They may well reopen more aggressively will actually change people's behavior if they're coming out of lockdown, but they see that explosion in case load and fatalities, we need to see fundamental change in behavior from economic agents. So finding a way to capture that is going to be really tough. And one of the things has been notable on our modeling is that for a large chunk of this year, we had low model confidence on all our Chinese equity stuff, whether it was FXI or K web or Shanghai composite, all this stuff wasn't being driven by macro fundamentals is being driven by policy decisions, political policy decisions being made out of Beijing. Now our short term models have started to pick up a little bit and they were pointing to a tactical bounce at the end of last year, but now they're flatlining again. So really for us, the only way we can calibrate this is we have measures like Chinese GDP, which is an independent tracking GDP number rather than official stats. The FX market, I think I know it's a managed currency, but will be a bit of a tell in terms of direction there. And then watching stuff like kind of industrial metals. It's a cliche, but doctor copper and iron ore on these things they do speak to Chinese industrial demand. Away from that, if there are other people, there are now these sites that tell you about pollution levels or congestion on the road on the subways to give you an early steer in terms of economic activity picking up or not. So that would be the kind of more alternative stuff. Okay. All right. Good stuff, lots to focus on lots of keep on in our models per se. Hugh Roberts, quant insight, he's head of analytics over there, they're based in the City of London right near the Bloomberg offices as a matter of fact. Really cool area of town. Right now, with our

BOJ fed U.S. BOC RBA China Beijing Shanghai Hugh Roberts quant insight London
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:37 min | Last month

"boj" Discussed on Bloomberg Radio New York

"Tape. This is a Bloomberg business flash. Hi everybody 20 minutes before the top of the hour we update markets every 15 minutes on Bloomberg radio. I'm Brian Curtis in the Bloomberg interactive broker studio and looking at markets in the Asia Pacific equities are mixed at the moment. We do see some pretty serious losses in Tokyo and we'll give you more on what the BOJ did yesterday in a moment down about 1%, a fall of 256 points. We're tracking a bit lower in Seoul to the Cosby is down about two tenths of 1%, but very handsome gains in Sydney, the ASX 200 is up 1.4%, and New Zealand has rallied as well today with the nzx 50 there up about a half of 1%. The fallout from the BOJ shocker reverberated further today, the BOJ increased the upper bound on ten year JGB yields to a half a percent from a quarter percent. Now, our colleagues on the M live blog ask how long will it be before the Central Bank lifts its policy rate out of negative territory and what will the impact be on global assets? We see lots of comments on the blog like the yen squeeze has more room to run and also that the move is just the start of the BOJ's risky path toward exit. So we've seen an upward push of bond yields the yield on the tenure has essentially gone from about three 50 to three 70 in the past say 36 hours. It's a ginormous move and the yield on the two year here, 4.26%

BOJ Brian Curtis Bloomberg interactive broker Bloomberg Asia Pacific Seoul Tokyo Sydney New Zealand Central Bank
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:56 min | Last month

"boj" Discussed on Bloomberg Radio New York

"Does the fed keep rates elevated for a long time going forward? I think that's exactly the point. So the 5% I need to meet up on the back of the envelope is seems reasonable, but the question is what happens between now and that terminal 5% rate, right? It's not an exact science of when exactly that will happen. And there is also, I mean, hiking interest rates is not just the only way that a Central Bank can control money. They can also do things on the quantitative side. And or they can keep first of all, they can do 75 basis points later this month where I think this week. And then they can keep it there for a while. So that would be, let's say, bad enough until the market gets used. It's not really bad because we need to do that in order to get to a very nice and stable place. Remember, the problem is we came from a world of no interest rates and now we're going to a world with interest rates. And that's actually very normal world. That's how it should be. And the getting from that point a to point B is very messy as we saw this year and are likely to see for some time. But ultimately, ultimately, it's out, it's closer to how things should be. But yeah, I think the time period of tightness, as you say, will be the critical point as we go into next year. Rather than the terminal level of interest rates. So you're long U.S. dollar. The new normal is the old old normal, right? Point being we don't think really that the fed is as done as these market rallies suggest. And we'd rather be on the course side for now, right? That's basically the efforts. Well, you're also long U.S. dollar, which is old fashioned, I guess. Yeah, but with that view. Yeah, but if you're looking at the other side of currency pairings, which currencies do you expect to be selfless going ahead? Well, the yen is one of those. Maybe not as soft as it used to be in the earlier stages of the fed technique. But it will be one of the weaker currencies because even if the BOJ shifts. So this is about relative differences in, let's say, monetary hawkishness, right? So in that sense, even if the BOJ brings in a hawk in Japanese terms, it will be nothing compared to even Europe, which also has to be structurally a lot more hawkish than the U.S. for a variety of reasons, including a war in the neighborhood. So yeah, the bottom line is the yen is one of those. I am reluctant still to see strength in the British pound. I think they have to rebuild a lot of credibility until they reach that point. Even though they do, they are hiking interest rates and it is an undervalued currency and it's certainly the economy is doing below potential, but yeah. So it comes down to all the potential strong currencies that are undervalued on fundamental terms such as Japan or Britain and others that they are likely to stay soft against the dollar with one possible exception being the Swiss franc. I'm going to put you on the spot it will be not necessarily stronger than the U.S., but it won't be soft either. You're pretty opinionated person. I know that. You've been with us over the years on this program. Way in on the crypto space very quickly in about a minute or so in light of the fact that this FTX collapse and ostensibly what may be criminal activity connected with it. I mean, it has a tarnished the asset class overall is there. Are you positive at all on the future of quid pro? Well, I maybe opinionated, as you say, and I appreciate that you have moved on your program, but I do not like to comment on criminal issues. However, I will say that this is also a consequence of higher risk free rates. And in that sense, it's a good thing when you have higher risk free rates when you have people being able to earn a decent nominal return. You can get 4% or more on a three month U.S. dollar deposit these days. The threshold for any one soliciting an investment from you, including a crypto investment, it has a higher bar to convince you to give him

fed BOJ U.S. Central Bank Europe Britain Japan
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:17 min | 2 months ago

"boj" Discussed on Bloomberg Radio New York

"A little weakness here on the ASX and another markets as well for closer look is Doug Kristin. Yeah, Paul, we just have the market in Taiwan coming online the Thai X is down about a half of 1%. So the weakness is consistent with what we're seeing across the region particularly in Japan. Now the nikkei is down about one and a half percent. Paul, a moment ago, noted how strong the yen happened to be during the New York session. We rallied about 2% against the greenback. A lot of that had to do yes with dollar weakness, but at the same time we had comments from a BOJ board member will go into that in a minute or two here on daybreak, Asia. So after that 2% rally against the greenback a little bit of weakness in the end here, not by much, though, one 35 45 and again the nikkei is down just now by about one and a half percent using the function on the Bloomberg terminal. You go inside the benchmark and you can see that the weakness is really being led by healthcare energy and real estate. In Seoul, the cost be down 1% and in Sydney, the ASX 200 is a weaker by about 6 tenths of 1%. A little bit of caution in the U.S. when it came to trading in the equity market, we do have to deal with the November jobs report that happens before the next session. The Bloomberg survey looking for non farm payroll growth of around 200,000 and a move up in average hourly earnings by around 4.6%. The Dow was down and the S&P very little changed, but the NASDAQ composite managed to gain about a tenth of 1%. I think the big story was the move in yield lower. We're seeing a bit of a reversal in that right now in the Tokyo session with a ten year treasury now adding about three basis points to three 53, two years also up about three basis points to four 26. I'll take another look at market action for you in about 15 minutes, Brian. All right, Doug, thanks very much. Let's take a closer look at the bank of Japan, the board member there and now key tamura told us that the bank should conduct a policy review at the right time. But he said it's hard to define when the right time is because it depends on inflation, wages, and the economy. Bloomberg's Paul Jackson gives his take on tomorrow's comments. I think this certainly ramps up the expectations that the BOJ is going to review policy next year. I think the idea that they can kick it down the can after the new governor comes in in April to replace Corona. I could say that's out of the window with this. We must be a little cautious of over interpreting the significance of these remarks after all, it's just one BOJ board member saying this. But still for a sitting member of the BOJ brought to call for a review and he's hedged it sooner or later, I think is a significant move. That board member naoki tamura also stressed the need to continue with ultra loose policy for now to support the economy. If the BOJ decides to proceed with unwinding stimulus, well, then the bank might need to be highly attentive to risks from the shift in markets. We hear you as authorities are asking crypto investors and trading firms that worked closely with the FDX to hand over information on the company and its key figures. The SEC's enforcement division is also running a parallel civil probe into FTX collapse. It sent similar requests for information to companies that invested in or traded on the clip crypto platform. Former FDIC chair Sheila bear tells us FTX is downfall as a wake-up call for investors. I think investors were not being not doing their due diligence, not being selective about where they were deploying their capital. And most of the money has investment capital has gone into entities that are making speculative use of this technology. It's a quick profit. It works until it doesn't. U.S. authorities currently examining what FTX and its leaders told investors and customers as the exchange imploded last month. So far, they haven't accused anyone of wrongdoing. And the time now is 5 minutes past the hour coming up is Daniel Morris chief investment strategist at BNP Paribas asset management. And we'll take a closer look at the markets. But now it's time for global news

BOJ Doug Kristin Paul Bloomberg Taiwan Seoul naoki tamura tamura Paul Jackson Japan Asia Sydney FDX New York Tokyo treasury
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:00 min | 2 months ago

"boj" Discussed on Bloomberg Radio New York

"He can now start to refocus on the economy, helping to improve things there. And that will start to show up probably in the first quarters of next year rather than this year. Yeah, you mentioned a minute ago that's going to be a while, perhaps before inflation becomes a topic of conversation in China, but it's forcing its way onto the agenda in Japan, that those October CPI numbers 3.7% were now well beyond what the BOJ was looking for. When are we going to see some policy change coming out of Japan? Well, according to BOJ chief Corona, it's the wrong kind of inflation. He wants to see inflation driven by a rising wages rather than imported costs. So he keeps on going on about his speaking again today and he's retaken the same thing is that he wants to see a significant increase in domestic wages in Japan, which isn't happening yet. And he says that once that is sustainable, then he can consider changing policy. Really, his explanation is a lot of the inflation you're seeing Japan is really a function of the Japanese yen when the yen was so weak, recently got as high as a 152 against the U.S. dollar. That caused so much of the inflation in Japan that you're seeing in the CPI numbers now. And the yen is still relatively weak on the long-term basis. So until he gets what he wants in terms of wages, he doesn't look as though he's going to change his mind. Although of course, bear in mind, he will step down in the first part of next year and there'll be a new BOJ chief. Yeah, that's going to be an interesting moment. Indeed, the EM one 40 against the dollar right now very quickly mark what to hit for the dollar. Bumpy ride. It's going to be a bit choppy. I think it's reasonable that good chance we're seeing the higher for this year. But we've got a lot of speakers. We've got one more third meeting, our CPI. There's lots of things that can move the dollar around quite actively in the next few weeks. Yeah, it's going to be an interesting few weeks as we count down to the end of the 2022 and what a weird year it has been. My cranfield Bloomberg M live

BOJ Japan China U.S.
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:01 min | 4 months ago

"boj" Discussed on Bloomberg Radio New York

"This shot in the arm and it could happen. The yen is inching toward where we had BOJ intervention up in the high one 45 one 45 90 range, right. One 45, 72 this morning. Is that something that the BOJ is quite coy about? Does that target change or what are you hearing? Yeah, I think the one 45 it seems like is the floor that authorities are comfortable with. We already had that one intervention, obviously. But kishi dah, the prime minister has been really pushing for the opening up to really capitalize on this weekend. And relatively low inflation relatively speaking compared to outside countries, whether it's the United States Europeans and others. So get the tourists in on the weekend, the pent up demand is there, and that's what they're going to try to capitalize at one 45 to the dollar. Okay, Steve, we are coming up to the top of the hour, always great to have you in. And do you have any questions for us? No, I'm just joking. Don't even don't even think I want Taiwan's opening up to on Thursday. Yeah, scrapping the three day quarantine. It's very unusual. What happened in Taiwan, the cases just shot up to the moon. They're 35, 40,000 a day. You save for another day. Another day, another morning here live on the radio. I know you'll look forward to it. Stephen engel, Bloomberg's chief north Asia, TV correspondent, with us coming up to the top of the hour get some new markets opening up, and then we'll really be able to give you a full picture of what to expect from this day's trading. This is Bloomberg. This is doctor trudy flair here with the 5G home recovery podcast. Let's discuss a very real existential threat to Internet speed. It's a big one. Ready? T mobile home Internet. It lags. Now what is leg? Is a delay in data being transmitted across the Internet? For example, you're hitting that hot drop, the parachute cuts out, you've got an unsuspecting butt near sight then leg. You are actually eliminated ten seconds ago. Nobody deserves that. So stop letting T mobile home

BOJ kishi dah Taiwan Stephen engel Bloomberg trudy flair north Asia Steve United States
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:43 min | 5 months ago

"boj" Discussed on Bloomberg Radio New York

"Yeah, 75 bps is certainly been priced in by the market. And at this moment in time, if you look at the U.S. ten year yield, it is at three and a half percent. And at this moment, it seems that it is at a resistance level. So 3.5 could be overshooting to 3.7. But this seems to be likely to be anchoring around these levels. So two ideas that we have for our investors. So one of them is DM IG corporate bonds because they're using more than 5% and if you look at how much they've been using over the last 78 years, been like two and a half percent. So this is very attractive yield. You do need some defensive exposure. You do need to have some income carry to be able to combat markets like these. The other idea is high dividend equities globally. Because if you look at times when U.S. CPI is above 3%, global high dividend equities outperformed global equities by about 6%. They actually had an absolute return of about 4% positive versus global equities down 2% in those periods. When do you expect that we could see a fed pivot and what will perform well in such an outcome? Well, given the latest CPI print, that fed pivot has been pushed, I guess, pushed back into the future. So we probably need to see a couple more prints that are below expectations for this pivot narrative to return. If that is the case, that the higher growth stocks will probably do very well in those environments because you expecting that the use would be coming off. And that would help the valuation of those growth stocks. All right, let's talk about Asia. Now we did have that hot inflation read from Japan. Is it hot enough to move the dial though when it comes to the bank of Japan? Probably not. Think Japan has Japan really has a chronic this inflation issue. So they probably need to see a few like this before that bank BOJ consider possibly scaling back on the outer loose policy. So the total yen is probably here to stay. Around these levels. And we saw such big moves in dollar yen and JGB futures last week as well. The three and a half percent treasury rate as well, how much does that kind of potentially have an impact on the BOJ decision when we're looking at this year differential? Well, I think at this moment in time, the Japan economy do need such weakness in the yen. Because it does help the exporters, they are trying to boost up the tourism again. So of course, I think they would let the yen stay around these levels. I think unless they go above one 50, they wouldn't be doing anything concrete. A lot of this, as we know, with what's happening in dollar yen is happening in EM currencies because of the strength of the dollar as well. We mentioned earlier waiting to see what the PBOC fixes today. How much of a guess is a stress that we could see 7.25 now? I'll send 1.25. I think that's certainly a possibility because you do have the property issues looming at the Chinese economy. And there are still a few weeks before the before the Congress at the end of October. So until then, I think big

BOJ Japan U.S. Asia PBOC Congress
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:00 min | 8 months ago

"boj" Discussed on Bloomberg Radio New York

"That together. What's your recession probability number is a heist for Bloomberg? Well, Bloomberg economics monitor, I've pegged it at around 70 odd percent for U.S. recession. Sometime next year, a globally people are starting to talk about it now, maybe a 50 50 chance. I think Citigroup was out this week. They said 50% chance with global recession right now. The big debate comes down to then what kind of conversation will it be either in the U.S. or globally? We know the kind of backstories meant to be consumers have tash, a bank term better order and that this time around the economy should be better placed for a kind of a shallow recession or a shorter live recession at least. That's a big unknown. And that's the big trade off the policy makers are facing, but this language from Jerome pile again he said in the testimony yesterday. He said a recession is not inevitable. He's trying to talk up the economy, but I think most people are aging towards now at the very least, both the U.S. economy and global economy are certainly headed towards a Steve soda and it's not something in the order territory. Okay, and thank you very much. And the car and there were the very latest probability statistical analysis on recession watch. That's what Japan's key inflation gauge has stayed above the BOJ's target level of 2%, a result that will likely keep the speculation alive over a possible policy adjustment at the center of bank. Let's get to our Japan economy editor, Paul Jackson, Paul, the issue is what triggers a response from the BOJ, is it the currency? Is it inflation? What's the latest take after the inflation data? Well, I think you've mentioned some of the key points there already. We're at 2.1%. So this isn't like inflation crisis, digit reaction required mister Corona. No, no. But at the same time, we've got the three factors really, the yen, getting weaker. Pressure on bond yields. And political pressure. They're the three things that I think could move the BOJ to change policy. The moment curta says the inflation is not sustainable and he must keep course, keep the stimulus going, keep interest rates at rock bottom levels to ensure the recovery continues and that inflation feeds through into wages and we get a sustainable loop. Yeah, but the moment relatively contained on the eastern front and Japan at least with the dalliance of a 105 Paul, thank you very much for that Paul Jackson. Japan economy editor. I want to get to another important story in that as Wall Street's biggest bank, stay in east, defense annual stress test, paving the way for billions of dollars in shareholder payouts that set out to Bloomberg zucchini for more. So what details then emerge from the numbers exactly. Who did how well? Well, 30 of the biggest banks here in the U.S. were evaluated 30 past and what the fed says and it's very important is that all of these banks showed they were able to withstand a severe recession and that's very important given the current macro environment were in, specifically, they demonstrated that they were able to stay above the fed's capital minimums when faced with a mock crisis that the fed throughout them. They tested these banks with hypothetical scenarios announced back in February when they seemed a bit far fetched, lucid and see if they don't sound quite as far fetched. Now, widening corporate bonds spread a collapse in asset prices, increase in market volatility, a surge in unemployment in a crash and commercial real estate. That was the scenario. And for major firms, such as JPMorgan, Morgan Stanley and Goldman Sachs, they also faced a made up market shock that tested the resiliency of their trading operations. Again, I'll pass. You're looking at year to date stock performance for the banks

BOJ Bloomberg U.S. Steve soda Japan Paul Jackson center of bank curta Citigroup Jerome Paul fed JPMorgan Morgan Stanley Goldman Sachs
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:09 min | 11 months ago

"boj" Discussed on Bloomberg Radio New York

"GDP numbers monthly figures for last month up 8 tenths of 1% so actually surprising Surprisingly strong growth in January despite the omicron issues in the UK the 3100 at the moment is up by 1% More broadly in Europe we gain 6 tenths of 1% after the ECB meeting so the withdrawal of stimulus is on track despite the impact of the war Italian spreads widened significantly yesterday As for yields this morning Germany yields at 26 basis points Italian B2B one 90 U.S. yield at one 98 U.S. CPI yesterday It is staggering 7.9% Don't forget the next week we have the fed decision the BOJ and the Bank of England with a rates decisions as for the Kochi markets where we've seen surging oil gas wheat and other commodity prices breakthrough actually trading at a $111 now So I'll buy 1.9% but still significantly down for the week That is a good radio business fashion is the sorry not me and it's Hannah George of course with our top stories Hard to replace the wonderful Liam Well Chinese premier liki Chang says he will step down from his post after this year pointing to a coming reshuffle amid questions over the future of president Xi Jinping Lee made the disclosure at his annual news conference in response to a question about his decade as China's number two official The premier leads China's State Council and oversees a range of ministries Russia and Ukraine's latest attempt at diplomacy failed to make any progress In the first high level talks since Vladimir Putin's invasion began top diplomats from both nations met in turkey but made little headway after 90 minutes of negotiations After meeting Ukraine's foreign minister said his Russian counterparts indicated that attacks will continue until Moscow's goals are met And the UK economy bounced back above its pre-pandemic level in January recovering from the slump the month before when the omicron variants knocked activity GDP rose at 0.8% much stronger than the .1 of a percent pace predicted and after falling two tenths of a percent in December all parts of the.

Hannah George liki Chang Xi Jinping Lee BOJ ECB U.S. Bank of England UK Europe Germany fed China Ukraine State Council Vladimir Putin Russia
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:15 min | 1 year ago

"boj" Discussed on Bloomberg Radio New York

"Latest payments on two different 30 day grace periods on coupons that would do this week That's in addition to of course that $400 million matured bond that they've defaulted on declared default The two coupon payments total nearly $90 million both have a 30 day grace period before a default could be declared We're a little bit past 33 past the hour here on daybreak Asia We've got weakness in a technology stocks in Hong Kong I mentioned the hang sank tech index being down by more than 1% in the opening moment And if you look at the overall market yes we are seeing weakness with hang sank down about four tenths of 1% We were talking earlier about Central Bank policy being in focus and this move toward tightening that we have seen not just from the Bank of England but the fed as well and a little bit of inclination now it seems from the ECB Bank of Japan will meet later today but we're not expecting to see any major shift in monetary policy BOJ is expected to stand pat We do have a little bit of weakness right now in the Japanese yen against the U.S. dollar down about a tenth of 1% We're trading one 1370 and then if you look at the equity market in Tokyo the nikkei is a dropping by about 1% no surprise information technology leading the drop the overall group down about 1.4% On the Chinese mainland we have the Shanghai composite off about two tenths of 1% Different story in Seoul where the Cosby is now rising a tenth of 1% and in Sydney after some tough sledding yesterday the ASX 200 is higher by a half of 1% In the bond market we have a U.S. ten year treasury yielding one 42 in the Tokyo session and a two year treasury at around 63 basis points So a move lower overall in the U.S. yield curve and just a little bit of flattening not by much where oil is concerned we had a rally in New York trading with WTI popping more than 2% We've settled back a little bit right now WTI trading 72 15 here in the electron session We'll take another look at market action for you in 15 minutes Hustlin Try and all eyes on the BOJ for now the U.S. Senate has confirmed Nicholas burns as U.S. ambassador to China at Baxter has global news.

ECB Bank of Japan BOJ Bank of England Central Bank Hong Kong Asia Tokyo U.S. fed treasury Seoul Shanghai Sydney New York U.S. Senate
"boj" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:54 min | 1 year ago

"boj" Discussed on Bloomberg Radio New York

"Match on Sunday Night football the 9 and three Green Day packers are hosting the four and 8 Chicago Bears I'm Dan Schwartzman that your Bloomberg world sports op day Markets headlines and breaking news 24 hours a day As Bloomberg dot com the Bloomberg business app and at Bloomberg quick take This is a Bloomberg business lash And I'm Julia Sally in Sydney We check the markets every 15 minutes here on Bloomberg daybreak Asia We are seeing Asian stokes rise to start the trading week alongside U.S. futures the Niko two two 5 up 9 tenths of 1% in Tokyo Australia's a 6 200 is up four tenths of 1% in Sydney and the Cosby high by half of 1% in Seoul a little bit of weakness though in New Zealand market It is a busy busy week for central banks the fed about one of 20 Central Bank meetings this week We know drone pal is expected to kick off tapering and that contrasts with the likes of the BOJ which is expected to remain even more dovish The quarterly BOJ tungan survey meanwhile showing confidence among Japan's large manufacturers remained at the highest level since 2018 this adding to science at the country's recovery was back on track before the omicron COVID variant heightened uncertainty The level of 18 was just a little below forecast of a slight gain to a reading of 19 We've seen oil extend gains after its biggest weekly advance in more than three months this on hopes that omicron won't be as bad as initially feared and also these predictions that China will start adding fiscal stimulus in early 2022 WTI trading at $72 52 iron ore futures in Singapore up by over 2% in the U.S. ten year yield at 1.49% Let's get over to the Bloomberg newsroom now for a check on global news and head over to Denise Pellegrini Denise All right thank you Julia.

Bloomberg Dan Schwartzman Julia Sally Sydney Chicago Bears packers football BOJ Seoul Tokyo Asia Central Bank U.S. New Zealand Australia Japan
Coronavirus: Stocks fall after global central bank action

Bloomberg Daybreak: Europe

03:39 min | 3 years ago

Coronavirus: Stocks fall after global central bank action

"And what a move from the fed to wakeup to Raja emergency shock and all you could call it but the market reaction shows some disappointment a cot to almost zero on interest rates and seven hundred billion dollars of asset purchases yeah and that was seeing other central bank action as well we've had the bank of Japan making a move that certainly didn't impress the markets we know the bank of Korea's doing something we'll send it to the reserve bank of India is having a press conference seen as well so a lot of action out there but certainly looking at the way it's been going this morning in Asia now because of your nature of people are not impressed no absolutely no I mean what you see from the central banks you mentioned a few that are of course the B. O. J. with a commitment to ETF purchases but stopping short of a rate cut we got a rate cut from the audience adds the all B. H. a potentially pledging more measures as well you start to wonder whether this does actually look like some global coordinated response from central banks but the question is is it too little too late and what is the move from the fed actually achieve of course has already achieved anything to prop up risk assets overnight but does it leave more time and more room for fiscal space what does it actually accelerated the urgency full fiscal measures to take place and of course the big agenda right in today is the G. seven cool between global leaders articles what might well be in their minds that horrendous data out of China I mean a real holiday this data that we've got from January February less than expected written record way that will build Burton I think people thinking about how this crisis is going to work itself out absolutely and last week of course we saw global equity markets tumble into bed market territory the stock six hundred in Europe gain some one percent on Friday right now we open it down at two point six percent so not quite as bad as some of the futures were indicating looking across regional equity benchmarks Roger using the footsie one hundred down two point two percent the ibex unfit see made both in the red just waiting to get an opening price through from the dax and CAC forty of course the swings in the U. S. market at the end of last week was starting Wednesday since nineteen eighty seven on Thursday best day since two thousand and eight on Friday futures are traded limit down and taking a look at where we are now one U. S. futures you're seeing S. and P. Dow and nasdaq futures all in lower by at least four and a half percent and then we get to the bull market the ten year treasury yields tumbling more than thirty basis points at one point in the Asian session went down twenty now to a seventy six handle with C. yields tumble across the U. S. because of the market seems to be debating for more from the fed or elsewhere at the two year yield at thirty two basis points down seventy was seen curve flattening so that tells you something as well about the market's reaction to Jerome Powell whatever it takes the ten year bond yield down three basis points negative fifty seven ten you guilty sixty basis points in FX markets are we see the yen jumped up more than one point three percent against the dollar at the moment so don't again I did fluctuate a little bit on the BOJ's decision but ultimately you'll see this as a reaction to the fed daily and that one percent what a six fifty we've also seen the Ozzy I use even dollars come under pressure from action and signals from those two central banks D. X. Y. Morgan Stanley says that you should be selling the dollar against the euro the Aussie and the loonie because a risk assets and the self that I would actually finding a bottom D. X. Y. at ninety seven Morgan Stanley sees ninety five on further dollar weakness I'm just taking a look at commodity markets you see oil WTI and Brent extend losses off to the worst week since two thousand eight Brent down four point four percent at thirty two thirty four dollars a barrel Raja yeah what a thing for you to return from holiday into your relaxation I'm afraid might dissipate quite

BOJ raises GDP forecast but keeps policy unchanged

BTV Simulcast

00:22 sec | 3 years ago

BOJ raises GDP forecast but keeps policy unchanged

"Ha thought about central banks is the P. B. O. J. can't policy on saints and pay the brighter picture of the economic outlook signaling the prospect of additional stimulus have been reduced the central bank maintained its target for both interest rates and as the purchases in its latest decision focus now turns to the ECB on Thursday along with the key fed and B. O. E. decisions

P. B. O.
Jessica Biel, Bill And Robert F Kennedy JR discussed on Ringer Dish

Ringer Dish

01:08 min | 3 years ago

Jessica Biel, Bill And Robert F Kennedy JR discussed on Ringer Dish

"Bill, quote came out as anti vacs, joined, Robert F Kennedy jR to lobby against California vaccination Bill. So Jessica Biel's idiot. And now we all know also they're alive on Twitter, who were like the fact that they use the term like she comes out as an anti vaccine, the fact that, like, that's how it's being phrase. Yeah. Like, that's what's like, straight white people have to do is like come out like a giant, NASA hit. It makes me mad, how good her arms like in this picture. And that's I maintain just could Bill. You're in idiot. This looks bad for you. Looks bad for doesn't Timberlake. Also look that it is bad for children March, which is kind of shocking, because she had a she still owns the off, which is like a that children, but it closed and I, but I think it's still throws, like parties for kids either all time. It's the measles is what you're saying. Yeah. But the ground for disease. Stupid. Yeah. Just said, because I don't know if you guys have seen BoJ horsemen she plays a parody of herself. And she and I was like, wow, she's really like this one is as bad as she is in that show.

Jessica Biel Bill Robert F Kennedy Jr BOJ Twitter Measles Nasa Timberlake California
BOJ Takes the Fight to Bond Traders With Surprise Purchase

Bloomberg Daybreak: Asia

01:48 min | 4 years ago

BOJ Takes the Fight to Bond Traders With Surprise Purchase

"Fifteen minutes here on Bloomberg daybreak Asia while the Bank of, Japan is over four hundred billion yen of. Five to ten year bonds at its regular operation after yesterday announcing the same amount at an unsheduled operation. The b. o. j. also offering to buy sixty billion yen of JJ maturity's of at twenty five years. Whereas good men to telling us that the. Bureau Jay, could intervention by bonds again on Friday afternoon tikey I time similar to what they. Did, yesterday of course that move yesterday very much, surprised trade as they have, bought in the regular operation again today we are seeing yields on Japanese, bonds fairly steady at the moment having a look at markets doing very well after. That big, selloff yesterday, particularly in the tech space attacks in Taipei up by six tenths of one percent that is of course after we saw apple become that. One trillion dollar company and, we are of course awaiting to see what, China and Hong Kong will do after that big. Selloff yesterday let's get it over to Brian In Beijing Emma Juliette will index futures are pointing to what would be a very welcome update in Chinese equities with mainland stocks which are headed for their worst week in over a month after President Trump ratcheted up. His trade threat looking in the green one bright spot is likely to be China Resources via which is traded in Hong. Kong dot com be a giant Heineken is buying forty percent of China's largest brewer for about. Three billion dollars exposure stocks could also benefits and the. Big anyone. Juliet. All right Emma thank. You so much just having a look at commodities still Shanghai futures up one and. A half percent aluminum also high in Shanghai out by half. Of one percent the yen steadier one hundred, eleven for six nine and we are seeing a little bit of movement coming through in some of. The oil contracts sprint is down by about two tenths, of one percent, seventy three. Dollars thirty two let's get a check now of global news and you Ed Baxter in..

Hong Kong Emma Juliette China China Resources Bloomberg Asia Bureau Jay Taipei Ed Baxter Shanghai Japan Juliet Donald Trump Apple President Trump Brian One Percent Three Billion Dollars One Trillion Dollar Twenty Five Years