15 Burst results for "Bloomberg Cross Asset Markets"

"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:44 min | 5 months ago

"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

"This. He is Bloomberg Radio. Thistles Bloomberg Daybreak here for this Wednesday, the 24th of February in London coming up this hour statement of confidence. Powell's verdict on rising bond yields. The Fed chair plays down concerns over inflation. 10 year Treasury yields hold around the one year high. AstraZeneca is cutting deliveries of its vaccine to Europe in half in the second quarter. Anglo Merkel warms a third wave of the pandemic in Germany. The government pledges £700 million to help students in the UK catch up after covert and Tiger Woods suffers a leg injuries after a car accident in California. I'm the and Garon's with world News on gender Pay Gap Reporting in Britain is delayed by six months despite concerns about the impact of the pandemic on women. We speak to the head of the qualities and human rights Commission. That's all straight ahead on Bloomberg. They break Europe on B A B digital radio London Bloomberg 11 3 own New York Bloomberg 99. 1 Washington, D. C. Bloomberg 1061. Boston number 9 60, San Francisco, Sirius, XM Channel 1 19 and around the world on Bloomberg radio dot com. Five Bloomberg Business at Good morning from London. I'm Caroline Healthcare. And I brought you hearing and you're listening to daybreak. Europe live on London, D A B digital radio. Not during the past few hours. Caroline. We've seen stocks dropped quite dramatically in Asia a lot going on. They're not least to the with Hong Kong's imposing attacks. There are new taxes, stamp duty on investment, so That's pushing that one. But it could be interesting to see what happens in Europe. Yeah, absolutely. I think the fact that you is now trying to push to vaccinate what 75% of adults by the end of the summer end of August. That big push in the face of concerns in Germany is really important and we also interviewed Roger yesterday, Labor MP, the shadow health secretary in Britain after Boys, Johnson announced the easing of lockdown, so that's something that we're watching the reaction to the lifting of lockdown in the U. K. And it's a big day for equality or least it should be in the sense off where it's going in terms off women's representation on the board of some of the biggest companies on also, the gender pay gap not being reported, as perhaps it should be. We're gonna be talking to the head of the Qualities and Human Rights Commission coming up later in the program now to the markets at the moment, the MSC I. Asia Pacific has some to 1.8% hang saying down as much as 3% because off this proposal to raise stamp duty on stock trading in Hong Kong yesterday, the other big news was around the slump in Bitcoin and Tesla's shares, which were in focus. The NASDAQ dropping 3.5% intraday, but actually, then we saw trending on Twitter. This in the U. S was by the dip in terms off where we are this morning for futures. Though NASDAQ imminent future they're still firmly in the red down almost one full percentage point. Your security futures also dropping 3/10 of 1% of that risk off tone is really there in the markets. As for bond yields after remote Jerome Powell spoke about his optimism of Things getting back to normal in the U. S. 1.33% for US benchmark. He also down by a basis point. The dollar is weak at the pound is significantly stronger up half of 1% lot of mo mentum in the UK because off the easing of lockdown in the speedy rollout of vaccines even bet increasing about a Bank of England interest rate hike watcher. Right. Well, let me bring you some breaking news coming across the turn of the last few moments first. Well, let's go to Lloyd's. Their reporting was banking group, fourth quarter statuary pretax profit £792 million that speak on the estimate of £471 million they, Lloyd's of say's. That charmers is going to be the acting CEO for the 30th of April. The 16th. Of August. Charlie none is going to become the CEO from the August 16 section. Personnel changes there as well, well fascinates you. Meanwhile record Banky's consumer goods company fourth quarter like for like sales up 10.2%. The estimate was for only an increase of 9.64 so that from record Banky's and Vodafone confirming its I P O advantage towers, and that's going to take place in Frankfurt. That's Interesting. So frankfurters managed to get that bit of I P o business. I'm staying in Germany some closely watched data. German fourth quarter GDP down 2.7% Year on year First quarter adjusted GDP revised two down 3.7% on your the first estimates 3.9% down. The German GDP grew 0.3% in the fourth quarter. That's resign, revised up from 0.1% of those lines coming across the terminal in the last few minutes and also just one red headline. Now, of course, in a body bag terminal from record Banky's as I mentioned They ought to sell show the shoal brand to yellow wood partners, so that the red headline coming out from record Banky's on the terminal this morning, right? Those are all the breaking news lines. But I want to bring in Bloomberg's cross asset markets reporter Joanna asking again this morning to talk a bit more about what's moving in the markets, particularly around that budget speech in Hong Kong. Was driving price action. Is that a mention that tax that is emerged Great and that really has been a big concern that just sunk Hong Kong exchanges Group by about as much as 10%, and it's the first hike since 1993 and people are really concerned about the impact it will have on stock trading. On the same time. Of course, there's a big moves going on in Bitcoin just take us through the key issues for investors there. Yeah, sure. Well, Cathy would who of course, is a big name these days just said that she's very positive on Bitcoin and she was happy to see a healthy correction. It went as low as 45,000 yesterday. Back up trading around 50,000. It's really bouncing around quite volatile in the past couple of days of people need to be used to when they're investing in crypto. Yes, indeed, Your Honor. Thank you so much for joining us this morning, giving us a brief update in terms of what's going on on the markets to an awesome you're for real time. Market commentary and analysis. Check out markets live M l I V on your Bloomberg terminal. Right? Well, let's get our top stories. Now we begin in the U. S. Where the Fed is not even close to pulling back its support for the US economy. That's the essence of the message delivered by the chair Jerome Powell. You told Congress the economy is a long way from employment and inflation goals..

Congress Cathy California Roger Vodafone London August 16 3.7% Joanna 2.7% Tesla Jerome Powell 0.1% AstraZeneca 0.3% Frankfurt 3.5% Asia 75% 3.9%
"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:58 min | 5 months ago

"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

"Now, Caroline, if you've been keeping an eye on the Asian markets, very big drop in Hong Kong all down to the announcement of a stamp duty tax on stock trades. Yes, absolutely An increase that we haven't seen for years. And that means that Asian Actually, markets have dropped to the lowest in a couple of weeks now across the board, so we'll bring you an update on the markets in a moment, but also what you were going to be talking today about the chancellor of what he's gonna do The budget next week, lots of discussion about what that might involve. He did hint yesterday at a furlough scheme extension, and then I noticed that the Times is reporting. The stamp duty holiday that the tax on buying or selling homes in the UK may well be extended. And he's also apparently going to delay moving the goal post, as they say in terms, the more general the gent more general rules about how your tax people in this country that's gonna be kicked off, possibly towards the end of the year. But today we've got the CEO of the investment platform interactive investor Richard Wilson. On the program this out, he retail investors should get access to I pose just like institutional investors. That's what he says. And we'll explore all that at 6. 30. Yeah, that's going to be a great interview cannot wait to talk to Richard Wilson this hour. Let me take you to the markets then so the MSC I Asia Pacific Index drops a hefty 1.8% after the hang sang slumped 3.1% this morning. After news of that trading stamp duty increase futures for the U. S. Markets are also very much weaker this morning. Despite the positive news from Jerome Power about how he sees the recovery in America s and P 500 even futures down half of 1% you start. 50 futures also dropped 3/10 of 1%. In terms off the bond markets with trading for us years around close to the one year high, So 1.33% for US benchmark, yells down by a basis point also Bitcoin very much in focus, supportive comments from our investment management's Kathy would. She's a big voice in the industry Bitcoin trading at the moment, just above $50,000 so up by 5% and lots of interest, too. In the pound out performing major FX currencies this morning up by 4/10 of 1% on cable 1 41 65 a lot of bets increasing actually about the Bank of England, potentially raising interest rates at some point real change in the market in the attitude towards the U. K. Roger. Right. Let's have a look at what has been happening on the markets Bring in Bloomberg's cross asset markets. Reporter Joanna Passenger, Joanna, Welcome to bring Good morning Now we've seen a budget speech in Hong Kong and the shares in Hong Kong plunging. What's really driving all this? Well, yes, The government did say it would give the more support to the economy, but people are really worried about this trading tax hike. It's 2.13% from 0.1%. It's the first increase since 1993 and the Hong Kong exchanges in particular is taking it on the chin insist down as much as 12% now down about 10% because people are concerned about what that will mean for stocks. And also that I mean that's a huge story, but so too the moves in Bitcoin what key issues them and we've seen so much volatility in recent days. Right, and it fellas Loew's 45,000 yesterday, which was a key level support. It is now back above 50,000, as you said, and Kathy Woods endorsement did help, She said that there she has confidence and this is just a minor pullback in the scheme of things, but it's still down from the 58,000 records. So one thing to keep in mind for anyone who's looking to put money into crypto is it is going to be volatile. You will have these times where things will just move, you know, tend to 18% in a day or two. Yeah, that's kind of a given. I guess with that, isn't it right now, Let me give you a price. Check 55 9 hours. The moment is moving fast. 55 9 hours where we're seeing it. Thanks very much. Indeed. Joanna passenger there. Bloomberg's cross Asset markets reporter bringing us up to speed on that real time. Market commentary analyses checkout markets life ml ivy on your terminal. Now to our top stories this morning and we begin in the United States where the Fed is not even close to pulling back its support for the American economy. That is the essence of the message delivered by chair Jerome Powell yesterday, he told Congress that the economy is a long way from employment and inflation goals. He also played down concerns, often inflationary outbreak from another big fiscal spending package. Inflation will probably be a bit volatile over the next year or so. Do innocent, significant account amount to particularly things to do with pandemic. I really do not expect that will be in a situation where inflation rises to troubling levels. If it does turn out that on one of inflation pressures arise in their persistent than we have the tools to deal with that, and we will Now join. Powell said that he expected a return to normal activity amid the vaccine rollout, saying that the U. S economy could expand by 6% this year on he'll be testifying again today to lawmakers. Let's turn to Germany are the Chancellor Angela Merkel is warning that the country is facing a third wave of Corona virus infections. Bloomberg's Aggie Cantrell has the latest from Berlin. German Chancellor Angela Merkel urge caution is the country debates out best to reopen its economy. She stressed that any easing of the current restrictions must be tied to expand it testing and the vaccination rollout. Some state leaders have proposed possible strategies for Germany to reopen a national state leaders will meet again on March 3rd to assess the strategies for reopening the economy. In Berlin. Aggie control Bloomberg Daybreak. You're it. Meanwhile, AstraZeneca is said to have told the you that it will deliver less than half of the covert.

Richard Wilson Congress Caroline AstraZeneca 2.13% Joanna Passenger Hong Kong Jerome Powell Kathy Woods 0.1% UK United States 18% 3.1% next week 1.33% 5% Powell March 3rd yesterday
"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:39 min | 8 months ago

"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

"Above the AIPO price will bring you the latest As soon as we start to see quotes coming by on Airbnb stocks wavering the S and P swinging between gains and losses. Bottom line, little change, right? Now have been up a moment ago. But right now the S and P is down by half a point. Traders are assessing prospects for fresh stimulus. Amid the most intense negotiations since Election Day. Keep it locked into Bloomberg for the very latest on those stimulus negotiations. Here's where we stand as simply as I mentioned down a point right now, Little changed the Dow down 35 down 1/10 of 1%. That is stacked higher by 33 on track for a record up by 4/10 of 1% 10 Year Old 4 30 seconds 10 Year Yield. 100.92% Gold is down three tents now 18 34 the ounce and west Texas Intermediate Crude up 3.5% 47 10 a barrel Brent the global benchmark trading about 50 and 50 56 up 3.5%. I'm Charlie Public. That is a Bloomberg business Flash. Thanks so much I pellet. This is balance of power on Bloomberg Radio. I'm David Weston. Yesterday It was door Dash, whose initial public offering started out at $182 a share that was 80% more or less over the price initially set today it is Airbnb Stern and not to be outdone, it was priced at $68 a share and his indicated to start trading at $157 about 130% more than expected. We expect that trading to come any minute now. The meantime, we want to welcome critic Gupta. She is Bloomberg Cross Asset Markets. Reporter critic Great to have you with us. So what is going on? These numbers are almost unbelievable. They absolutely are. And you're seeing Airbnb cross a nearly $100 billion evaluation. This chair's just rising and rising and remember the prices here. The idea was price of $60 a share. You're now looking at indicated bid of I believe $150 a share so very interesting dynamic here and like you said, This is really coming. Right on the heels of that door Dash AIPO yesterday. Remember, Airbnb is facing justice. That's trouble as airlines hotels, cruise lines door nationals a little bit different because you already saw door dash have such explosive growth really on simply be pandemic work from home era you saw the food delivery name Really grow Airbnb. On the other hand, they're in a cash crunch through to see that kind of demand For this arguably a cyclical play. It is pretty substantial. And if you actually just look at where you got the most returns in the past month If those same sectors sectors that has been most volatile this year, the travel sector like you mentioned airlines, hotels, cruise lines, so a lot of this demand for Airbnb looks like it's starting to turn into a cyclical play. The question is Until you start to see that revenue matchup. How long will the Airbnb I po really stay at the levels that it Davies up Means makes quite a dramatic story. As you suggest pretty because it was not that long ago. Just a matter of months that it was really an extremist. It was really pushed to the wall. They had to lay off. A lot of people had to borrow money, and it was a question in something's mind whether even survive given what happened the pandemic. And now he's come roaring back. And the biggest possible way. Is this really a better the vaccine? Do you think It kind of seems like it's some extent. I'm glad you mentioned simply. The fact that this was ultimately is a fundraising issue, and when you're looking at simply the amount issue in this year, this is also just a record year for issuing from the business because Stock market is at record highs, although that is part of it. You're seeing a lot of companies try to I P o before that liquidity window closes, But this is also about the need of simply they need cash. You saw this happen in airlines issuing debt issuing equity and that's why you're seeing companies like snowflakes, for example, earlier this year really come out and really try to capitalize on that before we see repositioning happened. In 2021 to the zoom out 60,000 ft view is simply that company's seed money whether they're private or public, and that's where you're really saying the capital markets. Really get a ton of issuance on a one a weekly basis. So let's put in that larger perspective. You just suggested because of what you cover day and Dad, How does this fit into the market? Overall? I mean, looking at the market today, not a lot of big news, one of the other, although NASDAQ is up a little bit. Absolutely well. I mean, I made the argument that this is a cyclical play. Obviously, in the last month or so since the Biden election since the vaccine news you have seen really cyclicals, which have been completely hard hit by the pandemic. Take the lead. Well, remember, we're also in an era where big tech isn't really going away. So a lot of investors are looking at ways to get in on kind of that big tech traced without actively investing in the top five or six names that are considered too expensive that are considered to have lost evaluations and instead trying to find those names or they can get in on the ground level, And that's really where Airbnb the door dash Snowflake. I pose come into play because you're seeing this investor demand on Wall Street and even in the retail space trying to get in on A company that they can actually afford, as opposed to buying, you know, an Amazon share or a Google share, which of course, has rallied nonstop, so finding an entry level until those names Much harder than finding an entry level until let's say Airbnb at $150, and that's really why you're seeing such incredible demand. This does at the end of the day have to do with finding a way to get into that big tech did. Without directly bidding for big tech critic at the same time, some of those huge tech companies, let's talk specifics. What Google and now Facebook are facing some real and a trust circle screaming We had that lawsuit filed yesterday. By the FTC is Wells 48 states As far as I could tell the market's taking the possibility of breaking up Facebook seriously. Just a few months ago, when we're talking about antitrust risk going into the election, you saw the broader benchmarks. Move on this as the whole used to be something that was priced in this part of the blue Wave trade used to see a movie benchmarks move across asset. This time around host election A few months later, you're not singing have the same effect broadly in terms of risk sentiment. Well, you are singing have an effect on is the individual share price. And you really saw this happen in the premarket when he saw the NASDAQ futures underperformed that has kind of flipped on its head now, but earlier, you really saw People hesitant to buy into the index of the whole because of that exposure to big tax thinking that because of that Facebook news, you would see all of the big tech names, trade and sympathy. Now that is a fair assumption, because that's what we've seen for the majority of this year. Now you're starting to see it become an individual stocks story. Even so, it was being an individual Stocks story. Remember, these are companies that have immense waiting these tech companies Facebook in particular, having I believe 2% of the S and P 500 of awaiting other tech companies. Google like you said, was Indicted by the DOJ or not died. I'm sorry, had a case talking up from the DOJ back in October. So you start to see Google shares fall is well on that. Simply this idea that, although it's not a broader story anymore, because of the waiting is turning into a broader benchmark story at the same time, just briefly at the end, it doesn't hurt the market's doing so well. It's looks like it's gonna have a good December after a great November Absolutely not. And this once against a cyclical play that's leading names lately. Thank you so much, Always great to have you here. That's Bloomberg's critic Gupta coming up, employers around the country are working out how to deal with the coronavirus. When it comes to their workforce. We get some advice from Dr Anthony Harris. He's worked here, Chief Innovation Officer, an associate medical director That's next on balance of power on Bloomberg Radio..

Airbnb Bloomberg Facebook Bloomberg Radio Google Gupta Little Texas AIPO Dr Anthony Harris Brent Charlie Public DOJ David Weston Reporter
"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:41 min | 8 months ago

"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

"It was door Dash, whose initial public offering started out at $182 a share that was 80% more or less over the price initially set today it is Airbnb Stern and not to be outdone, it was priced at $68 a share and his indicated to start trading at $157 about 130% more than expected. We expect that trading to come any minute now. The meantime, we want to welcome critic Gupta. She is Bloomberg Cross Asset Markets. Reporter critic Great to have you with us. So what is going on? These numbers are almost unbelievable. They absolutely are. And you're seeing Airbnb cross a nearly $100 billion evaluation. This chair's just rising and rising and remember the prices here. The idea was price of $60 a share. You're now looking at indicated bid of I believe $150 a share so very interesting dynamic here and like you said, This is really coming. Right on the heels of that door Dash AIPO yesterday. Remember, Airbnb is facing justice. That's trouble as airlines hotels, cruise lines door nationals a little bit different because you already saw door dash have such explosive growth really on simply be pandemic work from home era you saw the food delivery name Really grow Airbnb. On the other hand, they're in a cash crunch through to see that kind of demand For this arguably a cyclical play. It is pretty substantial. And if you actually just look at where you got the most returns in the past month If those same sectors sectors that has been most volatile this year, the travel sector like you mentioned airlines, hotels, cruise lines, so a lot of this demand for Airbnb looks like it's starting to turn into a cyclical play. The question is Until you start to see that revenue matchup. How long will the Airbnb I po really stay at the levels that it Davies up

William Tong reporter Connecticut Airbnb Attorney
Airbnb stock will start trading at $157 per share, above the $68 initial public offering price

Balance of Power

01:41 min | 8 months ago

Airbnb stock will start trading at $157 per share, above the $68 initial public offering price

"It was door Dash, whose initial public offering started out at $182 a share that was 80% more or less over the price initially set today it is Airbnb Stern and not to be outdone, it was priced at $68 a share and his indicated to start trading at $157 about 130% more than expected. We expect that trading to come any minute now. The meantime, we want to welcome critic Gupta. She is Bloomberg Cross Asset Markets. Reporter critic Great to have you with us. So what is going on? These numbers are almost unbelievable. They absolutely are. And you're seeing Airbnb cross a nearly $100 billion evaluation. This chair's just rising and rising and remember the prices here. The idea was price of $60 a share. You're now looking at indicated bid of I believe $150 a share so very interesting dynamic here and like you said, This is really coming. Right on the heels of that door Dash AIPO yesterday. Remember, Airbnb is facing justice. That's trouble as airlines hotels, cruise lines door nationals a little bit different because you already saw door dash have such explosive growth really on simply be pandemic work from home era you saw the food delivery name Really grow Airbnb. On the other hand, they're in a cash crunch through to see that kind of demand For this arguably a cyclical play. It is pretty substantial. And if you actually just look at where you got the most returns in the past month If those same sectors sectors that has been most volatile this year, the travel sector like you mentioned airlines, hotels, cruise lines, so a lot of this demand for Airbnb looks like it's starting to turn into a cyclical play. The question is Until you start to see that revenue matchup. How long will the Airbnb I po really stay at the levels that it Davies up

Airbnb Airbnb Stern Bloomberg Cross Asset Markets Gupta Davies
"bloomberg cross asset markets" Discussed on WAFS Biz 1190

WAFS Biz 1190

02:16 min | 2 years ago

"bloomberg cross asset markets" Discussed on WAFS Biz 1190

"Scope every day we break down one superlative from our coverage and today's number is twenty one point three billion yen here to explain why it is Bloomberg cross asset markets reporter Eric Eric Clapton I Tracy well the number we're talking about today is bank profits in Japan and twenty one point three billion yen is how much Morgan Stanley earned on it over the past year as of March a very good year for Morgan Stanley that puts them at the top of the list of the ten biggest foreign banks in Japan renting out the top three are Goldman Sachs and be in be para and in the case Morgan Stanley the earnings were helped by Anson this is the man for a foreign bonds Erica what are some of the common themes that emerged from the and your results yeah I mentioned that says it's Morgan Stanley's profits were helped by demand for bonds but on the other hand and for all the other banks and most of the banks and the other one on the list is a sudden weakness in demand on the trading side and this is not surprising given all the turmoil that we've seen in markets over the past year it's less a lot of investors on the sidelines now the one bank that's actually in the red on the list as credit squeeze and they had a lot actual lost some in part because of that trading weakness so it's really a story of how these banks are managing those head winds and some are doing it better than others yeah and I certainly remember the days when Morgan Stanley staff would actually make fun of James Gorman as the consultant and no one is making fun of him now are they that's a Bloomberg cross asset reporter Eric lamb thank you so much for that let's check in on how treasury yields are actually pairing this morning man as we mentioned this earlier but the entire treasury curve between two years and thirty years is now firmly below two percent so that site concern over recession and it's of course the story the global story of central banks pushing for ever lower benchmark interest rates it is indeed entrees if you think what's happening with the cuts three month ten year spread is at a staggering negative forty seven as I get robbers research this morning they said this is not a healthy no no might say that is the understatement of twenty nineteen so far of course the Dudley.

Japan Morgan Stanley Goldman Sachs Anson James Gorman consultant Eric lamb Bloomberg reporter Eric Eric Clapton Erica thirty years three month two percent two years ten year
"bloomberg cross asset markets" Discussed on WAFS Biz 1190

WAFS Biz 1190

03:06 min | 2 years ago

"bloomberg cross asset markets" Discussed on WAFS Biz 1190

"And where they may be heading next senior analyst. Ties in honcho Wall Street acumen with Bloomberg intelligence. Ounces Eli's research, Jon Hansen. Great to have you on the program. Intelligence only on Bloomberg radio. The Bloomberg radio. Nasa funded by dot com. Well, it's time now for Bloomberg size and scope everyday we breakdown one superlative from our coverage and today's number is less than one point eight percent. To explain why is Bloomberg cross asset markets reporter, Eric lamb. Eric we've been talking about this global rally in bonds and you bring us yet. Another example of what's going on? Yeah. It's really kind of drilling down into the rally in bonds. You mentioned globally in Australia. The ten year bond yield has dropped to a record low below one point eight percents is actually continue to take a little lower since earlier this morning. Says you say part of a wave really where we've seen a global bond yields around the world have been dropping. So Eric can we see a rate cut in Australia? What are you hearing? Yeah. The interesting trends, there's some interesting things going on in Australia. We're talking about the bond yields at a record low, obviously, Australia has also had a bit of a housing crisis over the past year. That's really been a drag on the economy. That's really shifted. The stance of Australia's central Bank, governor towards more neutral stance from what they were talking previously of hoping for maybe a rate increase at this point. If we're looking for a rate cuts, one of the interesting subtext there is that while properties housing values of drops property, stocks actually, Australia are up this year, actually, outperforming the benchmark and one of the factors there is that actually with bond yields so low that some of the yield hungry investors have actually been looking towards those property stocks. Well, I mean wagering on a rate cut out of Australia would have been a losing bet for many months now. But when it comes to property stocks. I'm actually really surprised to hear this because everyone thinks housing crisis in Australia housing crisis. And yet we have some people who are bullish on those property stocks. How much further might that go? Well, you're looking at those factors, you know, some of these things are going to separate from the housing situation. There's a lot of demand for office properties in Australia as well. So that's another factor. If we do see a rate cut. So we might see a further drops in the bond yield, which would again make that a yield attractive this for those property stocks even higher. Alright Bloomberg cross asset reporter, Eric lamb. Thank you so much use of your checking in on the markets. Aren't you? Yeah. Yeah. Let's take a closer look here because we have as the pressure in the Asian session really across the board. No accepts and you've got the leading some of the losses down about three percent. US equity futures called clearly lower a lot of concerns after we had those ball and surging on Friday after the data.

Bloomberg Australia Eric lamb reporter senior analyst Nasa Eli Jon Hansen US eight percent three percent ten year
"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:31 min | 2 years ago

"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

"Here to explain why is Bloomberg cross asset markets reporter, Eric lamb. Eric we've been talking about this global rally in bonds and you bring us yet. Another example of what's going on? Yeah. It's really kind of drilling down into the rally in bonds. You mentioned globally Austrailia the ten year bond yield has dropped to a record low below one point eight percents is actually continue to take a little lower since earlier this morning. It says you say part of a wave really where we've seen a global bond yields around the world have been dropping. So Eric can we see a rate cut in Australia? What are you hearing? Yeah. The interesting trends, there's some interesting things going on in Australia. We're talking about the bond yields at a record low, obviously, Australia has also had a bit of a housing crisis over the past year. That's really been a drag on the economy. That's really shifted. The stance of Australia's central Bank, governor towards more neutral stance from what they were talking previously of hoping for maybe a rate increase at this point. If we're looking for a rate cut, one of the interesting subtext there is that while properties housing values of drops property, stocks actually, Australia are up this year, actually, outperforming the benchmark and one of the factors there is that actually with bond yields so low that some of the yield hungry investors have actually been looking towards those property stocks. Well, I mean wagering on a rate cut out of Australia would have been a losing bet for many months now. But when it comes to property stocks. I'm actually really surprised to hear this because everyone thinks housing crisis in Australia housing crisis. And yet we have some people who are bullish on those properties. Stocks how much further might that go. Well, you're looking at those factors, you know, some of these things are going to separate from the housing situation. There's a lot of demand for office properties in Australia as well. So that's another factor. If we do see a rate cut. So we might see a further drops in the bond yield which would again make that yield attractive this for those property stocks even higher. All right. Bloomberg cross asset reporter, Eric lamb. Thank you so much use of you're checking in on the markets. Aren't you? Yeah. Yeah. Let's take a closer look here because we have the pressure in the Asian session really across the board. No exception. You've got the leading some of the losses down about three percent. US equity futures called clearly lower a lot of concerns after we had those.

Austrailia Eric lamb Bloomberg reporter US three percent ten year
"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:02 min | 2 years ago

"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

"Thirty two billion dollars here to explain why is Bloomberg cross asset markets reporter, Eric lamb, thirty two billion, Eric what does it? So today, we're coming up on the ten year anniversary of the tainted milk scandal in China and thirty billion dollars figure is actually an estimate from Euromonitor for the size of the infant baby formula market in China. It could grow to thirty two billion over the next five years by twenty twenty three which really gives you a sense of the stakes that are involved in that market now at current currently, we're dealing with foreign producers versus domestic producers real battle right now for the hearts and minds of consumers in young parents. So what are foreign producers doing to build market share Howard, domestic producers fighting back? Yeah. The foreign producers certainly have an advantage because they're perceived to have higher quality products that are less risky for parents. And for companies like Nestle, which has seen their market shared quadruple since two thousand and eight in China. They're actually starting now to focus down on lower tier cities. So the smaller cities outside of the main regions, whereas a little more rural? There's a little more opportunity for growth, so looking at ways to for instance, develop ecommerce or better better supply their products to consumers, their meanwhile, the domestic producers are realizing that actually if they have some kind of brand association with foreign cows or production from outside of China that gives them a leg up and makes them a little more competitive. Yeah. So we saw one Chinese producer, for instance, brand itself as American dairy, right? What will it take to change the situation at what point do Chinese consumers come to believe in domestic producers again? The problem is for some memories are still still fairly fairly recent that they're just not to the point where they're willing to accept it. But over time that might change, right. Bloomberg cross asset markets reporter, Eric lamb. Thank you so much for.

China Eric lamb Bloomberg reporter Euromonitor Nestle Howard twenty twenty producer Thirty two billion dollars thirty billion dollars five years ten year milk
"bloomberg cross asset markets" Discussed on WAFS Biz 1190

WAFS Biz 1190

03:18 min | 2 years ago

"bloomberg cross asset markets" Discussed on WAFS Biz 1190

"And today's number is thirty five point two billion dollars here to explain why is Bloomberg cross asset markets reporter, Andrea Pappu who joins us from Sydney. Andrea tell us thirty five point two Bill in what is it? Hey, tracy. Five point two billion dollar. Indeed. And that is the record amount of debt issued by Chinese private companies that is due to mature in the first quarter of next year. Now, the reason that this is noteworthy it's because it comes at a time when defaults on a Chinese private companies have surged this year. Good to see this morning. High is China trying to support the cast cash squeezed five it's sector. They've played a lot of stock and this initiative that is introduced how does it really work. How's it going to work in practice? Hey, man is lived. There is no doubt that the private sector is off of incredible importance to to the Chinese government. They have come out with various measures in recent weeks. They have they've included the twenty two billion dollars to increase the amount that financial institutions can lend the central Bank has also provided funds to professional agencies to help them support bond issuance by private companies, and we have seen in the last twenty four hours China say that it will come out with with more measures that it is committed to to supporting the private sector now whether whether this is going to be of any help. It's probably still very early to say there are a lot of headwinds in China. Will that will impact this week accompanies from the trade war and from the weaker economic data that we've seen this week? Andrea very quickly. I have to ask thirty five point two billion is a big number Chinese companies actually find themselves in this situation. Chinese private companies have really born the brunt of the government's efforts to to deliver age a lot of their traditional sources of funding. Banks were closed down to them. They had to look elsewhere such as shadow banking or to issue bonds. And then the government started coming down on on shadow banking. And as we sold this bond defaults increase investors were less willing to to purchase these bond so demand for bonds started to dry up. Thank you so much. Andrea Pappu fat with the very latest on the superlative of the day. Quick snapshot all the markets, Tracy because it is all about sharing our guest host accuses morning said it's too early to rewrite but look at your data variety. We're up over one eight percent Dominic grabs saying that could be a deal at great progress. Numerous says, you want to reprise I put the Ozzy in there at Tracy because AUSSIE dollar barnstorming higher is that relief on Brexit. I'm not one hundred percent sure and Asian stocks just.

Andrea Pappu tracy China morning Bloomberg reporter Bill Sydney Dominic Ozzy Brexit twenty two billion dollars one hundred percent two billion dollars two billion dollar one eight percent twenty four hours
"bloomberg cross asset markets" Discussed on WAFS Biz 1190

WAFS Biz 1190

03:18 min | 2 years ago

"bloomberg cross asset markets" Discussed on WAFS Biz 1190

"And today's number is thirty five point two billion dollars here to explain why is Bloomberg cross asset markets reporter, Andrea Pappu who joins us from Sydney. Andrea tell us thirty five point two billion. What is it? Hey, Tracy, thirty five point two billion dollar. Indeed. And that is the record amount of date issued by Chinese private companies that is due to mature in the first quarter of next year. Now, the reason that this is noteworthy it's because it comes at a time when defaults a Chinese private companies have surged. Good to see you this morning. High is China trying to support the cast cash squeezed five it's sector. They've played a lot of stock. And this initiative is introduced how does it really work? How's it going to work in practice? Hey, man, Islam. There is no doubt that the private sector as of incredible importance to to the Giannis government. They have come out with with various measures in in recent weeks. You know, they have they've included the twenty two billion dollars to increase the amount that financial institutions can lend the central Bank has also provided funds to professional agencies to help them support bond issuance by private companies, and we have seen in the last twenty four hours. Say that out with with more measures that it is committed to to supporting the private sector now, whether whether this is going to be of any help. It's probably still very early to say there are a lot of headwinds in China that will that will impact this week accompanies you from the trade war and from the weaker economic data that we've seen this week. Andrea very quickly. I have to ask thirty five point two billion is a big number. How did Chinese companies actually find themselves in this situation? Chinese private companies have really born the brunt of the government's efforts to to deliver age, you know, a lot of their traditional sources of funding banks were closed down to them. They had to look elsewhere such as the shadow banking or to issue bonds. And then the government started coming down on on shadow banking. And as we saw this bond defaults increase investors were less willing to to purchase these bond so demand for bonds started to dry up. Thank you so much. Andrea Papu with the very latest on the superlative of the day. Quick. Snapshot all the markets said Tracy because it is all about it's turning our guest host accuses warning said it's too early to rewrite but look at euros starting data of a rally. We're up over one in eight percent. Dominic grabs saying that could be a dealer. Great progress. Numerous says, you want to reprise I put the Ozzy in there at Tracy because AUSSIE dollar barnstorming higher is that relief on Brexit. I'm not one hundred percent sure and Asian stocks just a little bit.

Andrea Giannis government Tracy Andrea Pappu China Andrea Papu Bloomberg reporter Sydney Dominic Ozzy Brexit twenty two billion dollars one hundred percent two billion dollars two billion dollar twenty four hours eight percent
"bloomberg cross asset markets" Discussed on WAFS Biz 1190

WAFS Biz 1190

07:30 min | 2 years ago

"bloomberg cross asset markets" Discussed on WAFS Biz 1190

"Of paradigm toothbrush and arguably justed important you'll concerned with how these technologies work in the real world. Give us a sense of what the company does. And how you make money. Bloomberg radio, the Bloomberg Radio Plus app, and bloombergradio. Dot com. Well, it is time now for Bloomberg size and scope every day we break down one superlative from our coverage. Today's number is four point one percent here to explain why is Bloomberg cross asset markets reporter, Eric lamb. He's joining us in the Hong Kong studio. Eric four point one percent. I'm going to guess, it's some sort of echo figure. Yes. Well, actually, it's the amounts. That's been drops off of the Philippine peso denominated bonds this month. That's actually the biggest drop among thirty four markets that Bloomberg is tracking this month. It's double what's the next worst performer was and that's actually Italy, which is going through a bit of a budget crisis with the European Union right now, and it's bonds are doing twice as well. As Phil as the Philippines. So what's going on there? They've got to they're battling inflation actually where emerging markets kind of been hit all across the board. But in the Philippines, especially they're also fighting inflation and things like rice and oil. So it's kind of an added headwind for them. It's pretty amazing the world's worst performing bonds. And there's some stiff competition recently, not least the Sri Lanka sovereign debt. That's really been dropping over the course of this week. What about the picture for corporate bonds? What does that look like? Yeah. So it's not great. They're either for Philippine corporate bonds. There's about four point nine billion in. Peso dollar-denominated a slash loans. That have come to you or are coming do this year. And that's also a record. So you're dealing with a situation where the peso's also been dropping. So it's costing more for these companies to pay their debt right at a time. When the bonds are also big numbers coming do. So it's really not a great outlook right now on either others front, right? And this is exactly the kind of external vulnerability that we see the IMF and others warning about all the time. So tell me what is the outlook for inflation in the Philippines, because it seems like this is really driving the price. Yeah. So the most recent inflation reading was six point seven percents in September for the Philippines. And that was actually well ahead of what the markets end with the central Bank, we're forecasting, but they've got a number coming up next week, and the hope and the expectation is that that number is Pete's and that we're going to see it maybe come off a little bit week after that the Philippine central Bank is also going to be coming out with their rate decision. And we're expecting a maybe a modest rate hike as. As well. All right, Eric. Thank you very much for stopping by. That's up. Bloomberg's cross asset reporter Eric Blom. Let's get back to this part of the world. Talk about Saudi Arabia's top. Prosecutor. He's visited the kingdom's consulate in Istanbul journalist has not was killed as the investigation continues. Richard Tiber has again insisted that Turkey will not let the Saudi writers murder go. Let's get more on this without actually he Bloomberg's Middle East managing editor clearly than another milestone in what has been an ongoing saga. But the tensions remain on the surface. Quite clearly, yes, look, the prosecutor visited the consulate. He's he's gonna talk to Turkish officials and the key. What do we expect the next skin would be? So last week. He said we've received information that the that the murder. Was premeditated. And we're going to continue our investigation it light of this. So the next big milestone that people are expecting is him confirming or basically talking about whether the murder was indeed premeditated. And if so who ordered it, and how far would that go because right now, we have eighteen people detained fifteen people supposedly members of the team and three others. You know, we heard. Staff members. But there are two profile officials who were relieved won't quit advisor. And a senior intelligence officials were these people be indicted as well or part to be part of the investigation or be under detention that is yet to be cleared. I'm wondering how this whole affair is playing into the geopolitical tensions the sort of chess game that we always see being played out in the region. Who's trying to get what at this moment in time. Well, you know, one big question is what is Turkey trying to get. And we've been trying to get a clear to get clarity on this. Because we've seen a steady drip of leaks information by Turkish officials and more than once president comes and said, we're not gonna let this murder go. But we haven't seen all these reports that they have an audiotape of of the murder. Director listened to the audio tape. We don't know whether they're going to release the audiotape. So that's the Turkey side on the other side. We're seeing ramifications. Yes, no one is suggesting so far that the crown prince will have any problem. Maintaining power in Saudi Arabia. But we're seeing additional pressure from the US to end the war in Yemen to resolve the questions with cutter. So these things that could reverberate across the region and actually have a significant impact on the geopolitical risk. We had the Jamie Donald J P Morgan also way in his first reaction as it were to what happened to the investment conference, which of course, was shrouded around. Controversial. Let's take a list of what he had said nothing. That was the issue is is that if this this event took place, we don't know the facts, I've obviously spoken to government I've gotten conflicting faction that. So it was an investment conference that we couldn't be seen in any way. Condoning that behavior. So the business relationship is going to continue. But you ask the critical question what kind of business are they talking about? Exactly. So what kind of business are we talking about? Are we talking about banks working with the kingdom on on some deals and getting fees? The key question for Saudi Arabia is getting investments and getting foreign investments. And nobody's suggesting that privatization, for example, which hasn't really kicked started yet, but will will stop. But the question becomes will. You get any foreign interest in in these privatization deals. We don't see any sign of Saudi investments domestic investments. The other question is the sovereign wealth fund. You know in this environment before this investigation is settled how easy for the world's fun to go and say to an American company and say, well, I want to buy a stake or to go to European to European company. And these are all questions that need to be answered. Yes, there is a business relationship. But what kind of value to the kingdom great to get some of your views there? That's Bloomberg's Middle East managing editor Shaheen. Let's go straight into these markets, Tracy. We are seeing of course, US equity if you call it a little bit higher off the enthusiasm relatively in Asia. And in the United States quick of what's happening in China. Stocks are up there, we had the Chinese PM. I described as ugly by the markets live team. That's the lowest readings since July twenty sixteen what and with what is going to intervene. Yep. We also have the MCI Asia Pacific index. Also trading up almost three quarters of a percent oil up sixty two cents a barrel. Yussef? That's Brent the international benchmark. I should just mention we have some big earnings coming up here in the region. More Bank earnings from Asia banks got no more at two pm as well as die..

Bloomberg Saudi Arabia murder Philippines Bloomberg radio Eric United States Turkey Middle East reporter Eric lamb Hong Kong Asia managing editor Prosecutor Eric Blom Italy European Union
"bloomberg cross asset markets" Discussed on WAFS Biz 1190

WAFS Biz 1190

07:07 min | 2 years ago

"bloomberg cross asset markets" Discussed on WAFS Biz 1190

"Today's number is four point one percent here to explain why is Bloomberg cross asset markets reporter, Eric lamb. He's joining us in the Hong Kong studio. Eric four point one percent. I'm going to guess, it's some sort of echo figure. Yes. Well, actually, it's the amounts. That's been drops off of the Philippine peso-dominated bonds this month as actually the biggest drop among thirty four markets that Bloomberg is tracking this month. It's double what's the next worst performer was and it's actually Italy which is going through a bit of a budget crisis with the European Union right now, and it's bonds are doing twice as well. As as the Philippines. So what's going on there? They've got to their battling inflation actually where emerging markets kind of been hit all across the board. But in the Philippines, especially they're also fighting inflation and things like rice and oil. So kind of an. An added headwind for them. It's pretty amazing the world's worst performing bonds. And there's some stiff competition recently, not least the Sri Lanka sovereign debt. That's really been dropping over the course of this week. What about the picture for corporate bonds? What does that look like? So it's not great. They're either for Philippine corporate bonds. There's four point nine billion in. Pesos dollar-denominated a slash loans that have come due or are coming do this year. And that's also a record. So you're dealing with a situation where the peso's also been dropping. So it's costing more for these companies to pay their debts right at a time. When the bonds are also big numbers coming do. So it's really not a great outlook right now on either others front, right? And this is exactly the kind of external vulnerability that we see the IMF and others warning about all the time. So tell me what is the outlook for inflation in the Philippines, because it seems like this is really driving the price. Yeah. So the most recent inflation reading was six point seven percents in September for the Philippines. And that was actually well ahead of what the markets end with the central Bank, we're forecasting, but they've got a number coming up next week, and the hope and the expectation is that that number is Pete's and that we're going to see it maybe come off a little bit week after that the Philippine central Bank is also going to be coming out with their rate decision. And we're expecting a modest rate hike as. As well. All right, Eric. Thank you very much for stopping by. That's up. Bloomberg's cross asset reporter Eric Blom. Let's get back to this part of the world. I'm talking about Saudi Arabia's top prosecutor, he's visited the kingdom's concert Instanbul, journalists tobacco. Shop was killed. As the investigation continues. President Richard Tiber has again insisted that Turkey will not let the Saudi writers murder go. Let's get more on this without actually he'd Bloomberg's Middle East managing editor Allah clearly than another milestone in what has been an ongoing saga. But the tensions remain on the surface. Quite clearly, yes, look, the prosecutor visited the consulate. He's there. He's gonna talk to Turkish officials and the key. What do we expect the next skin would be? So last week. He said we've received information that the that the murder. Was premeditated. And we're going to continue our investigation in light of this. So the next big milestone that people are expecting is him confirming or basically talking whether the murder was indeed premeditated. And if so who ordered it and how far with that goal because right now, we have eighteen people detained fifteen people supposedly members of the team and three others. You know, we heard. Staff members. But there are two high profile officials who were relieved I won't quit advisor. And a senior intelligence officials were these people be indicted as well or part to be part of the investigation or be under detention that is yet to be cleared. Allah. I'm wondering how this whole affair is playing into the geopolitical tensions the sort of chess game that we always see being played out in the region. Who's trying to get what at this moment in time. Well, you know, one big question is what is Turkey trying to get. And we've been trying to get a clearer to get clarity on this. Because we've seen a steady drip of leaks and information by Turkish officials and more than once president comes and said, we're not going to let this murder go. But we haven't seen all these reports that they have an audio tape of the murder that the director listen to the audio tape. We don't know whether they're going to release the audiotape. So that's the Turkish side on the other side. We're seeing ramifications. Yes, no one is suggesting so far that the crown prince will have any problem. Maintaining power in Saudi Arabia. But we're seeing additional pressure from the US to end the war in Yemen to resolve the crisis with cutout. So these things that could reverberate across the region and actually have a significant impact on the geopolitical risk. We had Jamie. Morgan also way in his first reaction as it were to what happened to the basement conference, which of course, was shrouded around controversy. Let's take a list of what he had to say. Nothing. That was the issue is is that if this this terrible event took place, we don't know the facts, I've obviously spoken to government I've gotten conflicting factor. So it was an investment conference that we couldn't be seen in any way. Condoning that behavior. So the business relationship is going to continue. But you ask the critical question what kind of business are they talking about? Exactly. So what kind of business are we talking about? Are we talking about banks working with the kingdom on on some deals and getting fees? The key question for Saudi Arabia is getting investments and getting foreign investments. And, you know, nobody's suggesting that privatization, for example, which has really kicked started yet, but will will stop. But the question becomes will. You get any foreign interest in in these privatization deals. We don't see any sign of Saudi investments domestic investments. The other question is this often well fund? You know in this environment before this investigation is settled how easy for the world's fund to go and say an American companies say, well, I want to buy a stake or to go to European to European company. And these are all questions that you know. Needs need to be answered. Yes. There is a business relationship. But what kind of value to the kingdom? They're always great to get some of your views there. That's Bloomberg's Middle East managing editor on Shaheen. Let's get straight into these markets, Tracy. We are seeing of course, US equity futures called it a little bit higher off the enthusiasm relatively in Asia. And in the United States quick note of what's happening in China. Stocks are up there, we had the Chinese PM. I described as ugly by the markets live lowest readings since July twenty sixteen what and with what is going to intervene. Yep. We also have the Asia Pacific index. Also trading up almost three quarters of a percent oil up sixty two cents a barrel. Yussef that's the international benchmark. I should just mentioned we have some big earnings coming up here in the region. More Bank earnings from Asia banks got no more at two pm as well as die wa..

murder Bloomberg Saudi Arabia Philippines Eric United States Asia Middle East Turkey reporter prosecutor Hong Kong managing editor Eric lamb Philippine peso-dominated European Union Italy Eric Blom Sri Lanka
"bloomberg cross asset markets" Discussed on KBNP AM 1410

KBNP AM 1410

03:18 min | 4 years ago

"bloomberg cross asset markets" Discussed on KBNP AM 1410

"Of more than twenty million euros a year global news 24 hours a day powered by more than twenty seven hundred john let's on on let's say more than one hundred twenty countries i'm alkas calls than this is bloomberg guy like you very much of the market so china's fourth attempts cracking and it's the eyes benchmark shares indices cubs with its best chance of success and well the stake is significant here early on wednesday morning on kong see i will announce whether china's domestic stokes of one inclusion joining us now from beijing bloomberg's cross assets market reporter emirate brian emma full time lucky anyone at the mine at and crime i think the balance that draft pick number considering four hundred four hundred nine all big cat voter pride and ready gained going on com china has come the party what can rain quit hongkong doubted limiting the length of creating brock some big name quoting encouraging medicare rebecca ubs asset management o on board that pro any china what we paul brought into the crowd anyone game at the point how the shares i've been doing a running up to this decision of punters in in there with big bets on the the him market is definitely on game in consideration dyke today we had in the market the benchmark index down their way i put a brain trading april really not knowing what's going to happen and is that correct how whoa i give us the oh i'm sorry excuse me give us the implications of if there is no well can point peres water basic remain that the job mainlandcreated equity from china remain a lot of the global track the index many saying that wire ian advocate seeking point curried kind of capital controls albert pre a couple of months here aimed at keeping the steady but they're big prior now because they can about how you get your price theo out of china trading did they their key saying they were by way of china mainland map at houghton after the round at the beginning of the 2016 in the i had to pick colluding paint halted for more than a day after the pa the the here better creating quirot added obama what else are we expecting msci to decide on i heard used at this morning talking.

china kong reporter brock houghton obama john bloomberg beijing bloomberg brian emma paul peres 24 hours
"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:57 min | 4 years ago

"bloomberg cross asset markets" Discussed on Bloomberg Radio New York

"Likely that drastically reduce the numbered heads they're considering either four hundred about a hundred and pick denied all big can ferrick aparna it gang with hong kong china has opec hamper the party to set up a second link we pound krahn and at doubted limiting the length of creating tension could has been a very p down lang brock in the past so ammos posed the question is whether or not china has done enough at this stage truth to overcome and to gain access to the nse is gauges right i therefore night taipei general thing aren't tank it's going to happen eight point is this preapproval issued china what hip preapproved global investment product ruling clique indicated the big issue to be i either sticking point points quoted china's capital controlled they're aimed at keeping me armed teddy that i all so at raise the rate of our power to find investors get their party out of china connect tactic could eat some of that anger trading huddled prevented another key issue we had the way that china's mainland knock at how at the beginning of cleaning pick gain amid the route dan anna he i did it isn't grading shares there's a vain halted for more than fifty days are here and i thank you so much amount brian their bloomberg's cross asset market reporter and if we stick to china billionaire li kashing has reportedly told associates that he plans to retire by next year as chairman of his flagship c k hutchison holdings according to the wall street journal citing good people familiar with the matter lee hasn't specified a date but is likely to step down by his ninetieth birthday in july next year it said the tycoon plans to remain as senior adviser and keep his office ceca hutchison's headquarters in downtown hong kong we are seeing those shares on a little bit of pressure of this hour of by it tenth of a percent sony a little bit.

china bloomberg reporter li kashing chairman c k hutchison holdings wall street journal lee senior adviser ceca hutchison hong kong hong kong china taipei sony fifty days