17 Burst results for "Juliet Sali"

"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:57 min | Last week

"juliet sali" Discussed on Bloomberg Radio New York

"Lower by a 114 points, the ten year treasury is down 8 30 seconds the yield on the benchmark 3.74% Amy. Nathan, it is all about the markets this morning, the S&P 500 on track for a second straight weekly loss. Yesterday it closed at the lowest level since June, ten year treasury yields are trading near its highest level in a decade. The two year rate is climbing for 11 straight Sessions now, Ryan Dietrich is chief market strategist at the Carson group. September is the worst month of the year when your week heading into it like down 15% for the year like we were this year, September is a really, really rough and can be dicey. So sure, the fed matters. We're not ignoring that. But the stage was set, honestly, for some person who potential weakness, cars and group chief market strategist Ryan Dietrich says the S&P 500 is just two and a half percent above the low set in June. And there could be even more pain ahead Amy one Wall Street firm says the selling is still not over. Let's get the story from Bloomberg's Lisa Matteo. Goldman Sachs is slashing its yearend target for the S&P 500 Index to 3600 from 4300 that implies a 4.2% drop from yesterday's close. Goldman says a dramatic shift in the outlook for interest rates moving higher will weigh on valuations for equities, the higher interest rate scenario in Goldman's valuation model supports a price earnings multiple of 15 times compared with 18 times previously. Goldman said the risks to its latest forecast are still skewed to the downside because of the rising odds of recession, a scenario that would reduce corporate earnings and widen the yield gap. However, the bank's strategists say a yearend rally to 4300 is possible if inflation shows clear signs of easing. In New York, Lisa Matteo, Bloomberg daybreak. Thank you, Lisa, meantime, cash is king Bank of America strategists say investors are flogging to cash and shunning almost every other asset class, as they turn the most pessimistic since the global financial crisis. The bank says cash had inflows of $30 billion this week while global equity funds saw outflows of $7.8 billion. We saw more equity losses in Asia overnight, Amy, stocks in Hong Kong led the declines. Let's get the details from Bloomberg's Juliet Sally in Singapore. The MSCI Asia Pacific index posted its 6 weekly decline the longer streak since May, equities were down Friday in Hong Kong, China, Australia, and South Korea, Japan, was closed for a holiday. Aussie bond yield spiked the two year up by as much as 28 basis points the highest since April 2012, and the offshore yuan continued to hold past 7 to the dollar despite the PBOC setting a stronger one fix for a record 22nd day. In Singapore, Juliet sali, Bloomberg daybreak. The sell off is also continuing in Europe where the region is poised for another weekly loss for stocks. Let's get the details with Bloomberg's view and pots in London, good morning Ewan. European stocks declining today at the end of a week that made very clear that central banks are not done yet. You have 6000 now down one percentage points with energy shares leading losses. Adding to that decline, not for the first time, Credit Suisse shares slumping to a record low today. That's after the troubled Swiss bank was forced to deny a report that it's considering exiting the U.S. market and banking also in focus in the UK government's mini budget today. The cap on bankers bonuses inherited from the European Union is to be scrapped. A planned increase in corporation tax also to be scrapped and the top rate of income tax that is going as well in London and mu and pots Bloomberg daybreak. You and thanks higher interest rates around the world have oil on track for a fourth weekly decline, crude is poised for its first quarterly loss in more than two years as concerns about a global economic slowdown way on demand, checking prices down, nymex crews down 2.2% or a dollar 85 at 81 64 cents a barrel, Brent is down 2% at $88 65 cents. But Nathan, those losses for oil may be short lived, some of the Wall Street's biggest banks see crude rebounding in the fourth quarter JPMorgan Chase forecasting Brent crude at $101 a barrel, the final three months of the year. Goldman Sachs is targeting $125. Brent trading around $90 today analysts say low inventory and sustained demand will keep prices elevated despite concerns of a global slowdown. We have COVID news out of Asia this morning, Amy Hong Kong is announcing plans to cut pandemic prescription restrictions, sorry, scrapping hotel quarantines for inbound travelers starting Monday. Those flying to the city will no longer need to take a PCR test before departing, instead they can take a rapid test. They will still need to take PCR tests upon arrival though. Let's turn to corporate news now, Boeing is in focus. The company agreeing to settle an SEC investigation into safety issues on its 7 37 max planes. We get details from Bloomberg's Jeff Bellinger. Boeing has agreed to pay $200 million to settle SEC allegations that the company and former CEO Dennis mullenberg failed to disclose issues with the 7 37 max jetliner. Mullenburg will pay $1 million as part of the agreement, regulators say Boeing and mullenburg did not reveal safety problems with the 7 37 max, which was involved in two crashes that killed 346 people. The twin tragedies prompted one of the longest groundings in aviation history. Boeing previously paid a $243 million fine as part of a two and a half $1 billion settlement with the U.S. Justice Department to end a criminal investigation. That was in January of 2021. Jeff Bellinger, Bloomberg daybreak. Jeff, thanks, FedEx is cutting costs and increasing rates the giant package carriers looking for as much as $2.7 billion in savings to deal with slowing demand and a tight labor market. Last week, FedEx shares suffered their worst day in 40 years after the company pointed out worsening economic conditions. S&P futures are down 31 points down futures down 229 NASDAQ futures down a 113. Local headlines said a check of sports next. This is Bloomberg

Ryan Dietrich Goldman Lisa Matteo Bloomberg Carson group Wall Street firm king Bank of America Amy Juliet Sally Juliet sali Nathan S Hong Kong
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:11 min | 2 weeks ago

"juliet sali" Discussed on Bloomberg Radio New York

"31 year high ahead of the bank of Japan meeting. Ford falls on higher than expected supply costs. And Shaun is real estate woes take a new turn as bad loan ratio search. A Russian made missile explodes near a Ukrainian power plant, Ukraine is urging western nations to supply more weapons and hurricane Fiona creates destruction in Puerto Rico and the Dominican Republic. I'm Doug prisoner with global news. Barcelona's finances are back on track after staggering losses due to COVID. I'm Dan Schwartzman. I'll have that story more coming up in Bloomberg sports. That's all straight ahead on Bloomberg daybreak Asia on Bloomberg 11 three O New York. Bloomberg 99 one Washington D.C., Bloomberg one O 6 one Boston, Bloomberg 9 60 San Francisco, Syria's XM one 19 and around the world on Bloomberg radio dot com and via the Bloomberg business app. Hi everybody, every benchmark in Asia is higher at the moment, and in fact, every sector in the Australian stock market is in the green. What's going on? Well, you have to stay with us. We'll try to explain good morning to you. I'm Brian Curtis and Hong Kong. And I'm Juliet sali in Singapore Bloomberg Debra kasia presented by interactive brokers at charges margin loan rates from 2.83 to 3.83% their clients can also earn extra income by lending their fully paid shares of stock rates of subject to change learn more at IBKR dot com slash compare will your turn this quarter out Brian to tell us why markets are. Did I oversell that? It's probably a little bit of a calm before this storm, Juliet with the fed meeting coming up. There's so many central banks meeting this week. But you know, it finished on Wall Street, pretty solidly in the last hour and it did provide a little bit of momentum to the extent that we do to a certain degree follow Wall Street. Today you've got rallies here, pretty solid ones too, the nikkei is now up 7 tenths of 1%. I highlighted the SX 200 because it's up 1%, 67 points up and every sector is higher. The strongest sector at the moment would appear to be energy up 1.8% utilities up 1.7%. Looking at the nikkei with that gain of a 197 points, we also have dollar yen here one 43 20, so pretty steady. The Bloomberg dollar spot index is flat now. It had been lower for much of the morning. We did get a pretty hot inflation read in Japan. Well, I say that. It was only a tenth of a percent above what the estimate was, but still in all, with consumer prices excluding fresh food rising 2.8% in August. It was enough to be a 31 year high. Analysts had forecast to 2.7% gain. And despite the numbers here, nobody's expecting the bank of Japan to change policy tomorrow. That's because governor haruhiko kuroda has repeatedly said that the bank will keep interest rates at these low levels until inflation becomes sustainable. And I wanted to mention again that the state backed newspaper securities daily in China says investors should be confident in the long-term prospects for growth in China and in the stock market. The CSI 300, though, is down about 28% year to date. Yield on the two year 3.94% steady the ten year three 48, WTI, now down two tenths of a percent. 85 58 a barrel. Juliet. Well, the second largest USC port getting fewer inbound container arrivals from Asia, that is a sign of weaker U.S. demand. Imports to the port of Long Beach, California have fallen for two months, and the neighboring port of Los Angeles has seen its biggest decline in inband cargo since the early days of the pandemic. Together these twin operations handle about 40% of containerized shipments from Asia, here's port of Long Beach executive director Mario kadero. As predicted, the temper of the American consumer has diminished with regard to the consumer demand a bit. But have you said all that for the prolonged beach for the first 8 months, our growth is 4.6% in terms of container movement, plus what it was last year. So we're doing well. Long Beach is also among 29 ports on the West Coast awaiting the outcome of labor talks and both sides have vowed to report a void or a repeat of the 2014 negotiations. That's when the U.S. faced 9 months of cargo disruptions. It's some rig numbers out of China, the property bad loan ratio has surged to about 30%, and according to city analysts even state back developers are now at risk of surging defaults. Bad debt rose to 29.1% of total property loans in the first half of the year. That was up from 24.3% at the end of 2021. The increase is largely due to developers controlled by the government itself. Chinese lenders exposure to real estate, Trump stat of other industry at $7.6 trillion. And the after effects of a mortgage boycott this year could leave banks with losses of some $350 billion. Coming up, we're going to talk to max mondaire founder and CEO of SG MC capital, but for now it is 5 minutes past the hour and time for global news

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"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:41 min | 3 weeks ago

"juliet sali" Discussed on Bloomberg Radio New York

"This is Bloomberg daybreak Asia for this Monday, September 12th in Hong Kong, Sunday, September 11th in New York, and coming up this hour. Treasury secretary Janet Yellen says the U.S. can't have a strong labor market if inflation runs high. The Biden administration reportedly plans to broaden curbs on U.S. shipments of semiconductors to China. And Japan warns again if possible intervention to prevent a further drop in the yen. Ukraine's leader says the war is at a turning point as Russia withdraws from dozens of cities. President Biden vows the U.S. will stand firm against any new terror threats and China apologizes over lockdown shortages in Xinjiang. I'm Denise Pellegrini with global news. Carlos sacres winning his first Grand Slam taking the U.S. open over Casper rude. That's all straight ahead on Bloomberg daybreak Asia on Bloomberg 11 three zero New York. Bloomberg 99 one Washington D.C., Bloomberg one O 6 one Boston, Bloomberg 9 60 San Francisco, Syria's exam one 19 and around the world on Bloomberg radio dot com and via the Bloomberg business app. Hi everybody, good Monday morning to you if you're tuning in from the Asia Pacific good day if you're listening elsewhere, I'm Brian Curtis sin Hong Kong. And I'm Juliet sali in Sydney where we do have markets trading here and Singapore where I normally am coming online Brian sings some pretty good green shoots today. Yeah, especially in Taiwan with the Thai eggs they're jumping 1.6% in the early going. Other markets such as Hong Kong China and South Korea closed for the mid autumn festival, but the markets that are up and running plenty of green here, the nikkei rallying 1.2%. That's 345 points, the ASX up about 8 tenths of 1%. And in Singapore, the streets times index moving up about four tenths of a percent. It's not only dollar weakness and perhaps slightly oversold conditions. I think we have to say that investors may be digesting the impact of Ukraine's counter offensive against Russian forces and pushing them back, making strong advances in the kharkiv region, something to keep an eye on. And right now we see the Ural hire, the yen higher, dollar yen, one 40 to 79, the Euro trading at 1.0072 against the green back in the Aussie dollar, 68.43 U.S. cents, yields preset, not racing to the upside, so that's all well and good. Yield on the ten year at 3.31% and oil is down, oil WTI trading off 1.3% at 85 66. So it's a little bit early to say it's an early Monday morning here in trading across the region, but solid gains so far, Juliet. All right, well, we will get a fresh read on inflation Tuesday with the release of the consumer price index for August, Bloomberg's Susanna Palmer takes a look. Economists surveyed by Bloomberg say U.S. inflation likely slowed for a second month in August down to 8% from 8 and a half percent year over year. But that probably won't be enough to stop the Federal Reserve from delivering another jumbo rate hike later this month. Investors are still betting the Federal Reserve will lift rates by 75 basis points for the third time in a row at the meeting on September 21st. Last week, fed chair Jerome Powell said that policymakers won't back down and some other officials voiced their support for another large hike. Susanna Palmer Bloomberg daybreak Asia. In the meantime, the US Treasury secretary Janet Yellen says she's hopeful that the U.S. economy can avoid recession. Yellen told CNN State of the Union that Americans understand the urgent need for the fed to fight inflation. The fed is going to need great skill and also some good look to achieve what we sometimes call a soft landing, which is bringing inflation down while maintaining the strength of the labor market and my hope I believe there is a path to accomplishing that and my hope is that we will achieve a soft landing, but Americans know that it's essential to bring inflation down and over the longer run we can't have a strong labor market without inflation under control. Yellen says the Biden administration would leave monetary policy to the fed saying that both of their interests are aligned and coming up. We'll have George Barbara with us executive director and head of research at K two asset management. George always with a little twinkle in his eye, Jules. Yeah, he's in the Singapore studio. We've done it. We've done a location switch, all right, coming up to 5 minutes for the hour time for global news

Bloomberg Janet Yellen U.S. Biden administration Hong Kong President Biden Denise Pellegrini Carlos sacres Washington D.C. Brian Curtis China Juliet sali Asia Brian sings Susanna Palmer Ukraine fed
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:45 min | Last month

"juliet sali" Discussed on Bloomberg Radio New York

"Hi everybody, our three of the program, thanks for joining us here on Bloomberg daybreak days. You good morning if you're tuning in from the Asia Pacific, good day if you're listening elsewhere, I'm Brian Curtis in Hong Kong. And I'm Juliet sali in Singapore. Let's get over to New York City for a check of how things are shipping out for the Asian trading session. And Doug krisna David and gless made a very interesting point that U.S. stocks haven't had a single day of gains since pal's speech at Jackson hall. Yeah, I think the market is really coming to terms with the fed's new mission of fighting inflation even at the expense of growth. We'll talk more about what we heard today in the U.S. from the head of the Cleveland federal Loretta mester momentarily here on daybreak Asia. I want to begin with what's happening in the foreign exchange, the Japanese yen, weakening quite a bit against the dollar we are down now about three tenths of 1%, a level one 39 35. We got as weak as 139 44 or thereabouts, that's a year to date low for the yen, Vis-à-vis the greenback, the weakest that we have seen since 1998. Now, futures for the Nike had been weak right up until the open and indeed we gapped down right now, trading weaker about 9 tenths of 1% in the nikkei two 25 with the loss of nearly 270 points in Seoul, the Cosby sagging by more than 1.2%. We had a revision to South Korea's second quarter GDP and expansion at a rate quarter on quarter of 7 tenths of 1%. That is exactly what we had in the initial estimate. Also, we're at a short while ago that 3M is planning layoffs to cut cost a given on an economic slowdown that the company is seeing globally. This is a good benchmark or a barometer I should say for the global economy since a 3M has its fingers in so many different pies. The stock finished in the late session down by just a tenth of 1%. In the late U.S. session. Right now in Seoul, I mentioned the Cosby being weak by about 1.2% in Sydney, ASX 200 down, 1% E mini futures for the American market sagging quite a bit. I'll take another look when we check markets again in 15 minutes brain. All right, Doug, thanks very much. Fed officials this week stressing that commitment to beating inflation. Today, Cleveland fed president Loretta mester said that the fed needs to move its benchmark rate above 4% by early next year and then leave it there for some time. But mister said that the fed's next move will depend on a variety of factors. The size of rate increases at any particular FOMC meeting. And the peak fed funds rate will depend on the inflation outlook, which depends on the assessment of how rapidly aggregate demand and supply are coming back into better balance and price pressures are being reduced. Mesh to forecast inflation moving to a range of 5 to 6% by year end, and she said that she doesn't expect the Central Bank to actually cut rates any time next year. Well, meanwhile, Morgan Stanley chief U.S. equity strategist Mike Wilson says investors should brace for more pain. He told us that U.S. stock indexes haven't hit yet bottom for the year as investors have been too preoccupied with fed. Wilson told us an earnings risk is now upon us. We're cutting numbers and we think the numbers are going to come down even further over the next two quarters. So the bottom line for us is the PE multiple is wrong again, not because the fed is going to be hawkish, but because the equity market is being too optimistic about the earnings outlook. Wilson said the market will probably hit bottom between September and December as earnings get cut. Coming up in a few moments we'll have Jeff Schultz with this director and investment strategist at clear bridge investments. The time now four and a half minutes past the hour. It's time for global news. California is under blackout warnings as the new heat wave

Loretta mester Brian Curtis Juliet sali Doug krisna David gless Jackson hall fed U.S. Seoul Asia Pacific Cleveland fed Hong Kong Singapore New York City Cleveland South Korea
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:00 min | 2 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"Minutes away from the opening of the cash market in Hong Kong, if you're joining from the region, good morning, I'm Doug prisoner at the Bloomberg interactive broker studio in New York. And I'm Juliet sali in Singapore where markets are coming online this hour down to the downside of about a tenth of 1%, but let's get a full market check now and head to Hong Kong with Bloomberg's Brian kurtis Brian. I think if we look at the big picture Juliet, it's not really greed or fear that we're being seen expressed in markets today. It's more caution. You have the fed meeting looming, which was just mentioned a moment ago and also now this meeting between President Biden and president Xi Jinping and while that could be a positive, some markets might be a little concerned about a further breakdown between U.S. and China relations. So that's kind of hanging there. Against that, we do have some earnings that ended up being a little bit of a positive for markets. Alphabet sales and profit weren't particularly strong, but investors appeared content that Google did not suffer the same fate as snap did a week ago, snap shares now are down around 90% from its all time high. We saw actually Google's shares are alphabet shares trade up in the after hours session around 3% or so Microsoft raised its full year 2023 sales forecast by a double digit amount and that juiced up those shares. And also Texas Instruments gave a bullish forecast for the current period. So all of that augured well. Also South Korean memory chip maker, SK Hynix out with this earnings. It had a 56% rise in second quarter profit and sales were up 34% from a year ago and the stock did trade slightly higher in the sole session. Right now the cost speed is down a third of 1%, the nikkei's down about a tenth of a percent, the ASX down about two tenths of a percent. So that's why I say not any really huge moves there. China futures are trading, they're down about two tenths of a percent. We'll get Hanks and index futures in about 13 minutes, dug to you. All right, Brian, thanks. Well, let's take a closer look at this Microsoft story. The stock was last quoted in post market trading higher by 4% after the software company said, it's expecting revenue and operating income growth at a double digit pace for fiscal year 2023. That would essentially ease some investor concern about growth. That we have saw real trouble with the fourth quarter that was kind of lackluster. Microsoft also reporting for Q two, its slowest sales growth in or since September 2020. A stronger dollar was one of the culprits here that helped to hurt offshore revenue, quarterly profit missed for Q two. It's an especially troubling sign when you consider the fact that sales for the Azure cloud computing services began to slow, that growth rate fell to around 40%, and I guess it's a reflection of the weakness in the overall economy. Juliet? Indeed, and Google parent Alphabet Doug reporting quarterly revenues slightly below estimate sales about 57 and a half $1 billion that was $500 million below four cars. But Google search and other related businesses posted sales in line with expectations. Alphabet CFO Ruth porat said it reflects elevated consumer online activity and broad based strength in advertiser spending. The numbers reflect alphabet's resilience, unlike ad sales for smaller competitors like snap and Twitter. Angelo zino is a senior equity analyst at CFR. They've got so many levers they can also pull on the cost side of things that they're better able to navigate some of these issues than others out there. But there's a clear distinction between companies like alphabet and apple, which are great compounders great free cash flow generators relative to others out there. And we saw Google shares rise by as much as 4.8% in after hours trade. We're coming up on 5 minutes past the hour good time to update global news. Big story here, we've got a meeting between presidents Biden and Xi at his been set for Thursday. Let's get to Ed Baxter for more Eddie. Yeah, Douglas and the timing

Bloomberg interactive broker s Juliet sali Brian kurtis Brian President Biden president Xi Jinping Hong Kong SK Hynix Google Juliet Microsoft Bloomberg China Doug Texas Instruments
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:52 min | 2 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"Today's game. Sale was making just his second start of the season after missing the first three months due to a stress fracture in his rib cage. I'm Dan Schwartzman that your Bloomberg world sports op day. Markets, headlines, and breaking news, 24 hours a day. At Bloomberg dot com, the Bloomberg business app. And it Bloomberg quick tape. This is a Bloomberg business flash. And I'm Juliet sali in Singapore we check the markets every 15 minutes here on Bloomberg daybreak Asia. We are seeing some quite good gains across the Asia Pacific region, ex Japan, which has closed for a holiday today, and this after a rally on Wall Street Friday led by the banks on earnings optimism. We're seeing Australian stocks advanced by the banks as well and also the mining shares a South Korea's Cosby is a FrontRunner though up by over 1%. And the market here in Singapore also looking quite good up by about 6 tenths of 1% still though a troubling outlook we were talking about the International Monetary Fund cutting its global economic growth outlook substantially in its next update. This is its warned that nations have run out of options to tackle the worsening risks, and China opens later against the backdrop of rising COVID cases, particularly in Shanghai, and also deepening property sector woes the Central Bank governor E gang has said that the monetary authority will step up implementation of prudent monetary policy and another report is flagged possible help for the real estate industry. We've got Goldman Sachs saying that the strong recovery momentum we saw in June may not be sustainable. They are looking though at a sector that could outperform is government led infrastructure investment. Elsewhere we're seeing oil continue to fall $96 97 on the WTI contract this is the market digests that slowing demand and where the supply will be increased after president Joe Biden's visit to Saudi Arabia and a lot of focus on the strong dollar although we are seeing some gains particularly in

Bloomberg Dan Schwartzman Juliet sali Singapore Asia Pacific Cosby South Korea International Monetary Fund Asia Japan Central Bank Shanghai China Goldman Sachs WTI president Joe Biden Saudi Arabia
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:21 min | 3 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"Audience across the Asia Pacific I'm Juliet sali in Singapore. It is a new quarter a new half and it was the worst half for the S&P 500 since 1970, the best quarter for the dollar since 2016, let's get all the market action. With Brian Curtis in Hong Kong Brian. It's interesting. We are expecting to see slightly weaker Asian equities that's not turning out to be the case just here at the moment. And that's the story futures we're telling us that we would be firm today and so it's quite interesting after a lot of weakness on Wall Street. The S&P 500 down 9 tenths of a percent and NASDAQ down 1.3% and as Jules said, the worst first half year in goodness knows since high school days for me, that's going back aways. Anyway, let's take a look at some of the data out in the U.S.. Jobless claims and the PCE deflator data, well, they were more or less in line, but the inflation adjusted personal spending did shrink in May for the first time this year. Gains in the prior four months were all revised down. And so that led to a more fears about inflation when the consumer gets weak in the U.S. that's when people really start to worry about that. You can kind of see that because people bought bonds instead of worrying about higher inflation at the moment. They were trying to get yields in the bond market. And so you have the yield on the tenure, moved all the way down below 3% is trading just a little bit higher than that right now. The first few trades in Tokyo have the yield on the ten year 3.02%, the two year at two 97 and we had oil down to below $106 a barrel for a time it's a little bit above that at the moment. Confidence among Japan's large manufacturers deteriorated more than expected in the second quarter and we had the index of sentiment at 9 in June from 14 three months ago. Right now, dollar yen is at one 35 84. So that's a little bit of strength over the past 24 hours in the end. We'll do more on markets in 15 minutes. Again, no trading in Hong Kong today because of the holiday Juliet. Thank you, Brian. Well, the sell off in stocks deeper and after week consuming spend a dollar fueled worries about a recession, Republican senator and banking committee member pat toomey addressed the debate between inflation versus recession. He said for now recession concerns need to be put on hold. Inflation is a bigger risk because it's here. It's real, and if inflation doesn't come under control quickly, it does enormous long-term damage. Is there a risk that we have a recession? Yes, I think clearly there's a significant risk that within the next 12 months will have a recession. My quarrel with the fed and how it is managed monetary policy and the reason we've gotten in this dilemma is, I think there's a mindset at the fed that sees inflation as a psychological problem rather than a monetary problem. And Jimmy went on to discuss transparency at the fed stating that more scrutiny is needed outside of setting monetary policy. Memory chip maker Micron Technology has given a weak forecast for the current period suggesting tech spending is on the way. Sales will be about $7.2 billion in the company's fiscal fourth quarter. That compares to average analyst estimates of 9.14 billion, according to data compiled by Bloomberg. Micron shares fell by more than 8% in extended trading following the report before recovering to a decline of around 3%. The company shares had already fallen 41% this year through the close. It is four minutes past the hour time

Juliet sali Brian Curtis Hong Kong Asia Pacific Brian U.S. Jules Singapore S pat toomey Tokyo fed Japan Micron Technology Jimmy
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:08 min | 4 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"The Asia Pacific I'm Juliet sali in Singapore And I'm Kathleen Hayes joining you from Bloomberg world headquarters in New York All kinds of things to watch from around the world in the news today Juliet numbers out of China or watching the yen and all of that on top of everybody's look into the ECB European Central Bank to see what they do in the next several hours Yeah absolutely And of course commentary from Christine Lagarde are they going to join that jumbo rate height club potentially in July We are looking at weakness across Asian equity markets though you mentioned the yandere still holding at that two decade low and we're seeing a handle of one 34 spot 19 against the yen to the dollar That is no surprise giving a bit of upside to Japanese equities which are slightly higher but elsewhere it is a day of selling We've got the ASX 200 and Sydney certainly leading those declines down by around 1% and seeing weakness in these chip players too after Intel's warning on demand That's weighing on the Cosby and South Korea down 6 tenths of 1% as is Taiwan's tax which opened lower by 6 tenths of 1% Seeing though our big moves in the bond market we were looking at treasuries at around 3% in the New Zealand ten year yield by almost 9 basis points at 3.9% Australia's ten year yield Kathleen 3.57% Well certainly another story everyone is watching is what's going to happen to the global economy today and the OECD like the World Bank yesterday slashing its outlook for global growth is here They're looking for 3% and that's down sharply from the four and a half percent growth they expected in December OECD chief economist Lawrence Boone explains why The global economy is facing a very hefty price for the war that Russia is leading into Ukraine and yes this is pushing down growth quite a lot to 3% as you say which is just about one of the low rates we have seen and it's pushing inflation even higher We're getting close to 9% or a little more than 6 if we're excluding turkey in the OECD economies In fact OEC doubled its global inflation forecast to 8% for 2022 And Lawrence Boone also warning a potentially much longer lasting damage to supply chains than economists and policymakers thought at first saying this could lead a lasting impact on investment She said central banks will have to conduct a delicate balancing act between keeping inflation under control and maintaining the post pandemic economic rebound Will the Biden administration is looking to reconfigure tariffs imposed on Chinese goods under former president Donald Trump This according to US Treasury secretary Janet Yellen Yellen told lawmakers on Capitol Hill that Trump era tariffs weren't designed to serve strategic interests She said that while the U.S. should be acting to protect its national security interests some of the existing tariffs have hurt American consumers and businesses The treasury chief also acknowledged that tariffs were contributing to goods inflation and reductions could help to bring down high prices Yellen wouldn't give a timeline on potential tariff changes beyond saying they may take place.

Juliet sali Kathleen Hayes Bloomberg world headquarters ECB European Central Bank Lawrence Boone OECD Christine Lagarde China Asia Pacific Juliet Singapore South Korea Intel
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:30 min | 4 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"In Hong Kong the equity market will begin trading at the bottom of the hour and the last check on futures for the hang seng had us up 3% If you're joining from the apac good morning I'm Doug Krishna at the Bloomberg interactive broker studio in New York And I'm Juliet sali in Singapore yet certainly seems to have an upbeat mood so far in the Asian session Doug Yeah it was certainly the case here in the U.S. buyers were firmly in control of the equity market left higher Question is Juliet are we still in a bear market was this merely a bear market rally NASDAQ composite today up about 2.7% in the broader market the S&P was higher by 2% and the Dow picked up 1.6% on the day A lot of the retailers were in focus after Macy's lifted its profit forecast given strong demand for high end goods Macy shares up about 19% Alibaba's revenue figures also beat estimates in those ADRs were up nearly 15% in New York trading Right now in Tokyo we've got the nikkei pushing higher by about 9 tenths of 1% We were a bit off the best level of the day largely because we've seen a strengthening Japanese currency here at on the strong side of one 27 against the greenback We've got a one 26 handle now and if you look at the cost we're up about 9 tenths of 1% in Sydney the ASX 200 better by about 1% U.S. treasuries not seeing a lot of movement tenure yield at two 75 a two year at two 46 The dollar though remains a little weak here with the Bloomberg dollar spot index down about a tenth of 1% We'll take another look at market action in about 15 minutes Juliet Well Broadcom Doug has agreed to buy the cloud computing company VMware for about $61 billion It is one of the largest technology deals in history Importantly it has the support of KVM where shareholders Michael Dell as well as the tech investment firm silver Lake Here's Bloomberg's dinner bass Broadcom is basically saying that VMware is going to become the new name for its software business It's going to become the focus of a software business that they've been building for the last couple of years There is also a go shop provision in here though So VMware can for a limited period of time try to find other bidders So we'll see if that creates additional weight late breaking drama in this deal Broadcom has received $32 billion in commitments from a consortium of banks to help fund the deal It's expected to be completed in Broadcom's fiscal year 2023 If either party were to back out a one and a half $1 billion breakup fee would apply We were talking a moment ago about the sales beat from Alibaba quarterly revenue was up 9% Now Baba is considered to be a barometer for the sentiment on Chinese consumption And particularly so given the fact that it's got a dominant footprint in ecommerce So the beat on sales gives markets perhaps a little bit of assurance in trying to assess the cost of the Chinese lockdowns That said Bloomberg Stephen engel tells us there is a caveat to all of this Alibaba refrain from giving its current fiscal year outlook as it usually does Daniel Jones the CEO He says there have been significantly affected by the COVID wave that began in mid March and considering the risks and uncertainties arising from COVID-19 which we are not able to control It is prudent at this time not to give financial guidance Well uncertainty aside ADRs in Alibaba picked up nearly 15% in the New York session By the way that is the biggest one day gain in about a month Jules All right coming up to 5 minutes past the hour time for global.

Doug Krishna Bloomberg interactive broker Juliet sali Macy Alibaba Broadcom VMware Broadcom Doug Michael Dell silver Lake Here New York U.S.
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:06 min | 4 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"Our audience across the Asia Pacific and Juliet sali in Singapore several markets coming online this hour we saw some gains coming through on Wall Street bonso wobbling in another volatile session as investors digested those 5 minutes let's get all the latest with Bloomberg's Brian Curtis Bryan Yes we're edging higher here It was sort of a flat open but then in the next couple of minutes so we bounced to the upside Nothing too dramatic The nikkei up about a tenth of a percent the ASX 200 up about two tenths of a percent cost is flat but I think make no mistake The tone is reasonably positive Right now we've got you know we had a pretty solid day in Europe with a Dax up 6 tenths of 1% And then on Wall Street after the fed minutes of stocks actually turned around and powered higher the NASDAQ gained one and a half percent the S&P 500 was up one full percentage point Beneficials agreed that they would need to raise interest rates in half point steps in the next couple of meetings but the fed lowered its inflation forecast in 2023 And again in 2024 and if the forecast is accurate it would imply that the next three half point rate hikes would then be just about the end of the current tightening cycle And so investors and traders looking out beyond that we also had some comments from the Atlanta fed president Rafael bostick this week suggesting that a September pause might make sense if price pressure is cooled And even Chinese stocks traded higher in the U.S. up 2% and that's despite the comments from China's premier lika Chung will fill those out for you in a moment but he basically said things are pretty rough in the economy at the moment We had some positive comments from Volkswagen's chief saying that there's improvement in semiconductor supplies and that his firm would be able to get a global production recovering during the rest of the year and retailers soared Nordstrom was up 14% XRT gaining almost 7% Jules to you Thanks Brian Well Elon Musk boosting the equity component of his Twitter bid to 33 and a half $1 billion Bloomberg's edler Lowe telling us why the move is significant Significant.

Juliet sali Brian Curtis Bryan Beneficials Asia Pacific fed Bloomberg Atlanta fed Rafael bostick Singapore lika Chung Europe S Volkswagen China U.S.
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:08 min | 5 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"It is 9 30 a.m. in Hong Kong and here in Singapore I'm Juliet sali And I'm Doug Krishna at the Bloomberg interactive broker studio in New York mostly positive in equity action across the apac after a pretty amazing rally here in the U.S. with the NASDAQ golden or I'm sorry the NASDAQ composite up about 2.8% The NASDAQ golden dragon index today higher by more than 5% Brian Curtis will be by momentarily for a look at all the market action right now A few of the showers top business stories And Twitter's board says it plans to enforce its $44 billion agreement to be bought by Elon Musk the proposal includes a $1 billion breakup fee for each party Musk will have to pay that if he ends the deal or fails to deliver the funding as promised But he might just avoid it if he can show a material change in Twitter situation or the information it's provided Musk said on Tuesday that the deal can not move forward until Twitter proves that indeed less than 5% of their users are fake accounts Well China has stopped reporting Bond trades by foreign investors sources telling us daily trades by overseas investors were last provided a week ago by the China foreign exchange trade system This is a major bond trading platform for offshore investors and typically its data is updated every single day It's not clear why the platform stopped publishing the figure and whether this move was temporary Well JD.com reported better than expected revenue growth sales climbing 18% to nearly $36 billion in the first quarter This comes even as the ecommerce giant grapples with the fallout from China's covered lockdowns JD is heavily reliant on domestic sales it's been expanding brand offerings to tempt shoppers It also reported a net loss of more than $400 million JD shares today the ADRs were up by more than 4% in New York trading 32 past the hours we crossed to LA for a look at markets and Brian Curtis But JD trading down 2.6% in the Hong Kong market today I think there's a sense that what next even though the results were better than expected it's something like an 8 year low in growth It's just that analysts had ratcheted down their expectations So suffering a little bit but it's a day where we're giving back a little in the hang seng tech index in that sphere in Hong Kong Tencent is slightly lower Alibaba's down one and a half percent The next thing tech index is down about 9 tenths of a percent Nothing too serious with the Hangzhou index here off about two tenths of a percent The CSI 300 trading down about a quarter of a percent We have seen the offshore Chinese currency as well as the onshore weakened this morning had been strengthening a bit and just now the Bloomberg donors spot index has turned positive The C and H is at 6 75 42 here Other markets are trading firm in Asia the nikkei is up two thirds of a percent The ASX 200 is up three quarters of 1% rally in New Zealand and in Taiwan up almost 1% there and the cost be is trading up two tenths of a percent So still sort of buoyant market So we've had a little bit of good news in the past 24 hours The economic data in the U.S. and Europe was pretty solid We had a couple of upbeat news coming out of China with the vice premier Liu huh giving his show of support for some of the tech companies particularly the digital platform companies in Shanghai moves a little bit closer to to opening We did see an uptick in cases in Sichuan province and they're also quite a few cases in Beijing that has people worried that Beijing may see some further restrictions But at the moment you know we're trading pretty solidly here in Asia with mainly just the Hong Kong and China markets trading lower 34 minutes past the hour Jules back to you All right Thank you As you say 34 minutes past the hour time for global news Elections in a lot of states including Pennsylvania or North Carolina for a look at why some of these races are so closely watched Let's get to the newsroom and Bloomberg's Denise Pellegrini Denise Thank you Juliet and in.

Brian Curtis Juliet sali Doug Krishna Bloomberg interactive broker Hong Kong Twitter China Elon Musk Musk
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:45 min | 5 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"Shanghai damp and prospects for a reopening investors also appearing to be unimpressed by Premier Li's comments urging officials to use fiscal and monetary policies to stabilize employment and the economy Hong Kong shares came under pressure as the city intervened to defend its currency for the first time since 2019 in Singapore Juliet sali Bloomberg daybreak Julianne thank you Well we're also seeing cryptocurrencies continue their sell off this morning We get the latest on that live from Bloomberg's renita young in New York good morning Renee Good morning Karen Bitcoin is trading at its lowest level since 2020 At one point this morning it touched just over 25,000 And right now it's trading at close to 28,000 It's been falling in conjunction with the regular market but the collapse of the Terra USD stablecoin is triggering a flight from many of the large digital tokens And backers of the coin are trying to raise about $1.5 billion to shore up the token Stablecoins are key elements of the crypto market there were traders park funds as they move them in and out of other tokens The total value of all stablecoins is beyond $100 billion Live in New York I'm Renee young Bloomberg day break All right we need to thank you Let's turn to corporate earnings on Wall Street Now that's what's driving shares of Disney lower down to about 5% in early trading The company reported subscriber gains for its flagship streaming service those beat estimates but Disney's also tempering its outlook for the year We get the details on that from Bloomberg's Charlie pellet Disney said it will trim spending on movies and TV shows on the conference call CEO bob chapek said Disney is lowering its projection for overall film and TV spending by $1 billion to 32 billion this year Disney did report better than expected growth in its flagship Disney+ streaming service while saying half of Disney+ subscribers are adults without kids In New York Charlie pallett Bloomberg daybreak All right Charlie thank you Well on the economic front today we'll get another key reading on inflation the producer price index comes out at 8 30 a.m. Wall Street time and we get a preview from Bloomberg's Michael McKee Inflation isn't going away soon but it may ease a bit Producer prices are forecast to have increased more slowly in April following a stronger than expected gain the previous month while food prices continued to accelerate oil prices retreated in April supply chain snarls could worsen a mid China's COVID lockdowns suggesting wholesale inflation will be slow to recede coming after a firm April CPI the PPI is unlikely to add much to market thinking about inflation or the fed's plans for raising rates Michael the key Bloomberg daybreak All right Mike thanks As the fed fights inflation it's adding another member to its ranks The Senate has confirmed a third nominee of President Biden's to the fed board Lawmakers confirmed economist Philip Jefferson as fed governor yesterday Today Senate Democrats expect to vote on Jerome Powell's bid for a second term as Federal Reserve chair And in the markets this morning Nathan we're seeing the impact of the recent Bond sell off Pimco saw clients pull more than $14 billion from its funds last quarter as investors fled fixed income securities amid a rising interest rates The sell off in equities continues this morning Karen with S&P futures now down 28 points down futures down a 176 NASDAQ futures are lower by a 137 points the ten year treasury is up 23 30 seconds yield on the ten year 2.82% Straight ahead local headlines and a check of sports This is Bloomberg It's now 5 O 7 on Wall Street We're at 60° in Central Park So far so good on the roads Hope I'm not jinxing it Michael Barr.

Disney Premier Li sali Bloomberg renita young Renee Good Karen Bitcoin Bloomberg Renee young Bloomberg Charlie pellet New York bob chapek Julianne Charlie pallett fed Michael McKee Shanghai
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:55 min | 5 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"Across the Emirates and managed cranny in Dubai Do you agree with Bank of America We are in a state of paralysis not panic I'd say yesterday's lethal moves in some of these stock markets had a whiff of panic and indeed implosion about it We studied into the green justified I've been here three hours now We've just bounced back I want to show you the kind of moment The question is how Dennis gartman puts it beautifully He says you need another 5 to 6% dump day before the catharsis takes place and this burr market ends What is a market implosion really look like This is the NASDAQ 1.5 trillion in three days 10% of its value is gone This market is 26% from its highs Firmly in the grip of a burn market Bank of America have done the data 19 burn markets and a 140 years The average decline is 37% 50% of the NASDAQ is dying from 50% down by 50% from the 52 week high To the oil market we plunge by 5% yesterday the EU steps back from banning or stopping tankers moving Russian oil That pushback came from the Greeks we understand and the Brent market relented to Bitcoin If you're a nervous equity trader I can't imagine what kind of a crypto trader feels this morning Below 30,000 for the first time since July of last year We're dying 55% double nickel from the record high last November and Mike novogratz the demo God of cryptocurrency says more damage will be done it will be volatile and difficult In terms of the implosion in the NASDAQ that relationship is critical for Mike novogratz other people are saying it's a slow motion melt on because it's long holders that are liquidating Let's get the context with Juliet sali What a breakfast meltdown we saw in some of the tech embassies in Asia Good day Indeed man let's start there with the hang seng tech index As you can see going in on the lunch break down by some 4.7% after resuming trade following that long weekend with a slump of more than 6% and sending every stock all 30 stocks on that index in the red as we continue to see these growth worries really hit the tech players You can see China CSI 300 did have a little bit of a modest rebound before it went in on the break up slightly You mentioned the BlackRock call there They have now gone neutral on Chinese stocks from modestly overweight after we've seen this slump of around 28% Still seeing these China growth concerns weigh in on the resource heavy Australian market And we've seen the Philippines market slump too following the landslide win from Marcos junior We are waiting to see what his economic policies will be although worth noting it has paired some of its heftier losses of around 3% and you've seen some gains in the peso today Let's have a look at what else we are watching as we continue to look at the risk of barometers you are seeing Aussie bonds rising the Aussie ten year yield has been down by some 9 basis points today We're also continuing to watch the CNY after it pushed past 6.7 yesterday a little bit of strength coming through in the onshore currency today And of course continuing to see the global ramifications hit these commodity prices to Singapore iron ore futures adding to those losses yesterday and we're speaking to Stefan monia from Lombard odia yesterday He was saying with all these risks at the moment Manus that bank that Swiss bank would not be looking at adding exposure to Asia in this environment Yeah it's certainly some pretty big calls coming through Jules thank you very much Julie Sonny Analyzing the markets Let's get to the central banks analytics because we've got our M live contributor Garfield Reynolds our global economics and policy editor Kathleen Hayes standing by good to see you both Garfield to you first of all I love Bank of America Paralysis not panic I'd panic Well to some extent I don't mind it seems like the only thing that's stopping a full blown panic is there's a bit of a pause wondering what that CPI reading that we're getting soon in the U.S. is going to be that it's coming in tomorrow I was looking at that would be the first time since the 1990s that we'd had 12 straight headline CPI ratings of 4% or above So that underscores how much of a regime change there is out there and that that makes everything so much more vulnerable Do you really want to go in and buy the dip in anything when you've got the risk that even just inflation coming in about as expected keeps the fed looking at hiking rights and what on earth do we do if this is a hot inflation print and mister bullard is out there talking about hey we need to get 75 basis points back on the table So I think some of those concerns are uncertainty and you mentioned also what went on with Brent where we had a sudden reversal There are a lot of sudden reversals out there That makes it hard for almost any trend or ball to sustain Well as the gap is the gartman note that really got my we need another 5 to 6% tank before we get through catharsis I'll leave you with that thought Garfield Let's turn to Kathleen Hey she's got the other job Fed officials you'll get no sleep this week Kathleen Hayes fed officials one top one top fed official fields 50 basis points is enough We can all calm down It'll bring inflation lower Who was it And why are they so stoic Why are they so so cool It was roughly a box which is present in the Federal Reserve bank of Atlanta They're having their annual financial conference and now he's echoing what he said before He's seen people talk about more aggressive high C for some time has said 50 basis point rate hikes are probably going to be enough Let's listen what he told liver television in the interview today 50 basis points from over the last 20 years you know is already a pretty aggressive move I don't think we need to be moving even more aggressively I think we can stay at this pace and this cadence and really see how the markets evolve And if it is not done at 50 basis point and rate hike since 1990 and they are suggesting they are going to do one they just did and two more That's three and then maybe 25 basis point rate hikes We'll see bostick told Reuters after he talked to us that he's not taking anything off the table including a 75 basis point rate hike but what he called himself a worried optimist and he noted it's hard to make predictions right now about anything but he does see inflation starting to peak and come down a bit supply chain constraints easing but coming down a bit going down from the peak doesn't mean coming.

Mike novogratz Bank of America Dennis gartman Juliet sali Kathleen Hayes Stefan monia Lombard odia Swiss bank paralysis Julie Sonny
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:24 min | 5 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"And via the Bloomberg business app Well at least in some of the opening trades it kind of feels like it could be a lot worse hi everybody Good morning to you if you're tuning in in the Asia Pacific as markets are starting to open I'm Brian Curtis in Los Angeles And I'm Juliet sali in Singapore Well let's get a check on how things are shaping up for the Asian trading day after a very terrible session on Wall Street a drop of more than 1000 points on the Dow here's Bloomberg's dog prisoner in New York does Yeah terrible if you're long these markets no doubt that they seem to have a fever of a bearish one at that We had cratering inequities long-term interest rates spike and the dollar simply soared with the Bloomberg dollar spot index jumping today in the New York session we were higher by more than 1% Early going in Japan right now with a weaker nikkei down about two tenths of 1% down bear in mind this is the first time that the Japanese equity market will trade since Monday It's been on a three day hiatus Right now in Seoul early going in the equity market we're down about 1.2% in the cost and in Sydney the ASX 200 Weaker by about a half of 1% Yesterday we were going on about this loosening in financial conditions right With a move up in stocks and move lower in rates and a weaker dollar It was just the opposite of that today markets confounded a little bit here I think about what the fed is intending to do to get to inflation under control Yesterday seeming hawkish are rather a dovish pivot when fed chair Jay Powell took that 75 basis point rate hike off the table If you look at trading on U.S. sovereign debt now a ten year treasury at 3.04% and a two year at 2.71% we do have that employment report tomorrow It will be very interesting to see how markets respond We'll take another look at market action for you in 15 minutes Brian All right thanks very much Doug Let's take a look at our top story here the big sell off in equities today particularly in the United States Just yesterday the S&P 500 jumped 3% for its biggest rally in two years but today a reversal of fortune as the benchmark tumbled 3.6% The markets are struggling to navigate the fed's tightening cycle Gargi Chaudhry is head of investment strategy at BlackRock She says unlike the fed the markets are indecisive I think that the market is trying to determine what is the most important factor going forward So for the fed it's very clear They are a single mandate fed right now They are only focused on inflation and they're telling us that Well today's sell off in the end wiped out $1.3 trillion worth of value off of U.S. equities And the big unknown for markets Brian is this degree of fed tightening former vice fed chair Richard Clara saying that short term interest rates will need to rise to at least three and a half percent to rein in inflation This according to his remarks prepared for a Hoover institution conference on Friday He said expeditiously getting to neutral will not be enough this cycle but Clara said the fed might not have to raise rates to three and a half percent If reducing the balance sheet has a substantially bigger impact on financial conditions All right the time here is four minutes past the hour Time now for global news China's top leaders are warning against questioning the COVID zero strategy in the country at Baxter has global news.

Brian Curtis Juliet sali fed Jay Powell Asia Pacific New York Doug Let Bloomberg Gargi Chaudhry Singapore Seoul United States Los Angeles
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:18 min | 9 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"It is 9 30 a.m. in Hong Kong and here in Singapore I'm Juliet sali And I'm Brian Curtis looking at Marcus with gaines in the Hong Kong market The Hank sing index just itching and inching up now about 6 tenths of 1% We did have the banks in China lowering their borrowing costs maybe a little disappointing the one year loan prime rate was cut by ten basis points but only 5 for the 5 year which is what they priced the mortgages off of So we're waiting to see the impact on that The CSI 300 just edging up a little bit too Done Christmas will have all the market action for you in a few moments Juliet Well Morgan Stanley reported a surprising case in equities trading revenue in the fourth quarter This was driven by a one time gain on an investment of $225 million Morgan Stanley also raised its long-term profitability target chairman and CEO James Gorman says the bank fully expects to achieve it We are laser focused on delivering value to our clients as shareholders and our employees and we believe in RoTCE in excess of 20% is achievable As we look to the longer term with the support of our track record behind us writing a new goal a long-term goal to achieve 10 trillion in client assets across wealth and investment management Today's results matched Morgan Stanley's biggest competitors bonus payouts for star traders and bankers though it weighed on expenses Intel's CEO pat gelsinger is urging the U.S. and Europe to push ahead with efforts to bring back chip manufacturing He said government funding is needed to address an over concentration in Asia Gaussian are also said that he's optimistic that government funding plans and laws will pass We've seen strong response to the part of the U.S. government with the chips act which is in Congress as we speak We are hopeful that before the continuing resolution ends in February that that timing is one that I think all the legislators are lining up to get across the line And there's a similar timeline in Europe as well So we're optimistic We think it's a great start Gelsinger said that he would soon announce expansion plans for Intel Bloomberg has reported that the chip maker is planning to build a production base in Germany and other facilities in Italy and France Intel's next domestic factory will be according to local news reports in Columbus Ohio in that area Well by dance is downsized its powerful investment arm where being told the company is dissolving its internal venture capital and investing team The retreat comes as Beijing reportedly gets ready to require China's tech giants to get approval before making investments or raising funds Reuters says new guidelines would require any company with more than 100 million users or over $1.6 billion in revenue to seek approval but that was pushed back from the cyberspace administration of China the regulator issuing a statement saying the report was untrue All right the time is 33 minutes past the hour This is kind of interesting The MSCI Asia Pacific index is up even though in terms of numbers most of the Asian markets are actually lower at the moment Let's get to Doug prisoner With the exception of Hong Kong hang seng is up about 6 tenths of 1% You are talking about the reduction in lone prime rates in China the one year now at 3.7% that's down ten basis points from the prior month The 5 year at 4.6% and that is off about 5 basis points from the prior month It's not really surprising markets were prepared for this especially when earlier this week the PBOC pledged more easing after cutting two key policy rates and at the same time today the PBOC said a stronger fixing for the yuan the strongest that we have seen since May 2018 to talk about threading a needle right You want to adjust rates lower you also don't want to create too much damage where your currency is concerned the offshore yuan right now at 6 34 80 against the greenback so we're strengthening ever so slightly and the PBOC pumped about $15.8 billion into short term liquidity It's likely that as we approach the lunar new year holiday we're going to see more injections of liquidity during that period so we're about ten days out from the new lunar new year holiday In Tokyo right now we've got the nikkei down about a tenth of 1% We had a very strong reading on Japanese exports for the month of December an increase year on year of 17.5% that was above forecast on the Chinese mainland Shanghai composite is essentially flat We've got weakness in the South Korean market with the cost be down about three tenths of 1% We had a pretty hot reading on producer prices for the month of December in South Korea again year on year of 9% And when it comes to Australia strong labor market data with an unemployment rate now at a 13 year low of 4.2% But that's only going to add to the case that the RBA is perhaps going to raise interest rates as soon as this year Right now in the equity trade the ASX 200 down about a tenth of 1% In terms of U.S. sovereign debt the ten year treasury now down a little more than two basis points and yield in the Tokyo session were at one 84 and crude oil off more than 1% as well trading at $86 right on the money will take another look at market action for you in 15 minutes Juliet Thank you 35 minutes past the hour time for global news.

Juliet sali Brian Curtis Marcus with gaines Hong Kong Juliet Well Morgan Stanley James Gorman Morgan Stanley pat gelsinger China Gelsinger Intel Bloomberg PBOC tech giants Intel Europe
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:38 min | 9 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"In Singapore I'm Juliet sali And I'm Brian Curtis I'm in Los Angeles normally based in Hong Kong and looking at the Asia Pacific We do see losses across the board to me these losses feel a bit fragile like they may not last I often argue from the bullish side you probably know that if you listen to the show a lot But looking at TSMC's earnings a pretty solid and also the projections going forward and Jules just told us a few moments ago about fast retailing coming in that stock is up about 6.6% this morning So we'll see it is a Friday and you know we did have a lot of hawkish sounds coming out of the fed Juliet Well more fed officials sounding off on inflation Chicago fed president Charles Evans saying the fed could hike interest rates four times this year That's if inflation data doesn't improve quickly enough We need to get inflation back down in the ballpark of our 2% objective I think it's probably going to be at the end of this year It's going to be elevated I don't think it's going to be 3% at the end of this year And I think it's more likely to be two and a half as measured by the personal consumption expenditure Meanwhile outgoing fed vice chairman Richard clarendon said the Central Bank's plans to raise interest rates this year is justified within its new policy framework He added that once his supply chain problem eases the current inflation will prove to be largely transitory And up next U.S. retail sales numbers for December that'll be coming tomorrow morning at 8 30 Wall Street time Bloomberg's Michael McKee has a preview The Obama crime variant will weigh on the retail sales numbers as many bars and restaurants were forced to close during the holiday season Gasoline prices and auto sales also declined dealers struggling to get cars but it does appear core sales were strong Everything from toys to sporting goods and clothing Americans incomes were bolstered by a government fiscal aid and rising wages particularly at the lower end of the income spectrum the not so necessarily good news is retail sales will also benefit from soaring inflation as sales are reported in dollar figures Michael McKee Bloomberg daybreak Asia China Evan has dodged another bullish the developer avoiding what would have been its first to fall on a public on shore Bond Bloomberg Steven engel tells us more They had requested investors vote yesterday Thursday to a 6 month delay on a early payment schedule That was originally due January 8th Now the majority of those voters of investors yesterday approved it So we're assuming that that means it is a 6 month delay in that payment on the $707 million bond But again it just pushes things down the road further Have a ground has more than $300 billion in liabilities as of mid 2021 it has been prioritizing payments to migrant workers and suppliers based under orders from regulators to fend off any risk of social unrest Let's check in on markets We are seeing weakness across the board in a K two two 5 down by 1.3% We were mentioning uni clothes on a fast retelling though rising the most in March 2020 after its first quarter beat And we've seen the Japan 5 year note yield rise to its highest since January 2016 On Wall Street though it was a story about these tech shares tanking the NASDAQ down two and a half percent led by losses in Microsoft and Tesla and we saw treasuries jump with the ten year yield below 1.7% but it's not 1.71% The fed's Christopher Walla also saying that three 2022 rate hikes are still a good baseline We're looking ahead to the bank of Korea it may leave its benchmark interest rate unchanged at 1% according to Bloomberg economic signing the impact of omicron They think that that rate hike could be pushed out until February the be okay entering 2022 with a focus on reigning in inflation as is the theme across most of the globe of course it ended 2021 will above its 2% target Also just getting some data out of Australia with home loan values up 6.3% in November invest our own occupy loan values up 7.6% When it comes to the equity market in Sydney down 9 tenths of 1% South Korea's cost be off by 8 tenths of 1% WTI oil just under $82 a barrel and Brian the yen at a 114 to the dollar Yeah so we've seen some strength for sure in the Japanese yen All right it is now just about 34 minutes past the hour It's time for global news Well workers vaccine mandates on U.S. government orders have been struck.

Michael McKee Juliet sali Brian Curtis Richard clarendon fed TSMC Charles Evans Bloomberg daybreak Steven engel Asia Pacific Jules Hong Kong Bloomberg Singapore
"juliet sali" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:36 min | 9 months ago

"juliet sali" Discussed on Bloomberg Radio New York

"A.m. in Hong Kong and here in Singapore Ann Juliet sali And I'm Brian Curtis trading is underway throughout most of the region this morning We're seeing some outsized gains in Tokyo and also in Taipei and in Taipei information technology doing the best I mentioned TSMC up about two and a half percent Looking pretty good in the markets this morning they are all positive all the markets the equity markets that are trading We'll get you details with Doug Kristen in a few moments Julia Well Tesla is opening a new showroom in China's Xinjiang region This is where the Chinese government has been accused of human rights abuses against the region's Uighur Muslim population We get more from Bloomberg's Charlie pellet Beijing has denied the allegations calling the camps there vocational education centers Tesla announced the showroom on December 31st with a post on popular Chinese social media platform Weibo the showroom is Tesla's westernmost in China The opening comes just a week after President Biden signed bipartisan bill banning imports from the region unless companies can prove the materials were not made through forced labor The U.S. and other countries have also announced a diplomatic boycott of the Beijing 2022 Olympic Games In New York Charlie pellet Bloomberg daybreak Asia Well we're seeing the developers in the Hong Kong market rebound a little this morning the real estate sub index is up about 8 tenths of 1% but it was an altogether different story yesterday And particularly for China evergrande it came when local media reported that China evergrande had been ordered to tear down apartment blocks in hainan Here's Bloomberg Steven engel We heard that 39 buildings have been ordered to be demolished at a large development off the coast of hainan island in the South China Sea That part about $24 billion project that ever grand is building similar to the Dubai islands you know those artificial islands they're making three islands called ocean flower complex They've been ordered by the government reportedly because of bad permitting process So that just added to the negative sentiment towards evergreen Right And so just looking at that story in a little bit more detail that was Steve engel helping us with the action yesterday in response evergreens said that the order had no impact on the rest of the company's development Julia Well Starbucks says its U.S. employees must be vaccinated against COVID-19 or submit to weekly testing by February 9th for coffee chain is one of the first restaurant operators to come up with a strategy to implement new federal rules It will require workers to pay for their own COVID tests should they choose not to vaccinate The company is asking U.S. workers to disclose their vaccination status by January 10th All right tomorrow we get the ISM manufacturing data out in the United States Bloomberg's Michael McKee has a preview The economy was improving just before omicron hit the ISM report will offer some clues to the impact of the new COVID variant Manufacturing backlogs had been easing and product delivery times shortening investors will watch closely to see if that momentum continues And of course the fed will be paying attention to whether companies are paying more for raw materials and raising prices to customers If the answer is yes expect market rates to bounce higher Michael McKee Bloomberg daybreak Asia Let's head to New York now for a check of market action with Doug krisna Doug It's kind of interesting You look at a lot of the strength that we're seeing across equity markets in Asia and I'm recalling the data that we look at yesterday when many markets were on holiday and I'm speaking here of the latest PMI manufacturing numbers collectively across Asia they seem to show a fair amount of improvement the average from Korea Taiwan Indonesia Malaysia Philippines all edging up strongest rebounds coming from Korea and Taiwan It was only Indonesia that showed a marginal decline So there seems to be a little bit of optimism buildings surrounding these data points Oh by the way speaking of PMI data we're going to get the Tai Chi reading small medium sized businesses for Mainland China that will be out in about ten minutes from now In Tokyo we've got a rally in the nikkei up about one and a half percent Weaker yen certainly helping out here at one 15 40 the dollar was quite a bit weaker during the New York session and that created in turn weakness for the Japanese currency The dollar right now softer ever so slightly after quite the rally in New York We picked up about a half of 1% if you look at the Bloomberg dollar spot index right now we're down by less than a tenth of 1% In Hong Kong we got the hang seng higher by about half of 1% We want to touch on Alibaba very quickly This stock yesterday was a down quite a bit there was a great deal of concern being expressed about the possibility that when investors in Baba are invited to reduce their holdings in the ADRs because of the delisting here in New York they would be inclined to then to swap those holdings for the Hong Kong listed shares that when they go about doing so they may reduce their overall exposure to Baba and the stock was down 3.3% yesterday Right now the gain is about 2% On the Chinese mainland Shanghai composite essentially flat little bit of weakness in Korea with the cost be down about a tenth of 1% and the ASX 200 higher by half of 1% More than 15 minutes Jules All right 35 minutes past the hour time for.

Charlie pellet China Tesla Ann Juliet sali Brian Curtis Taipei Doug Kristen Chinese government Michael McKee President Biden Hong Kong Steven engel coast of hainan island Bloomberg Beijing U.S. Julia