tv Bloomberg Daybreak Australia Bloomberg July 29, 2018 6:00pm-7:00pm EDT
haidi: team trump comes out swinging. mnuchin predicts years of economic growth. andow takes up the baton bashes business. he said ceo's are wrong to blame tariffs for disappointing results. haidi: earnings make headlines. caterpillar will show the strength of the system. it is a big week for banks , the r.b.i., the bank of england, bank of japan.
this is daybreak australia, we are two hours away from the first major market open. ramy: i am ramy inocencio. over the next hour we will look at all the action last week on wall street playing into the asia-pacific trading day. you remember on friday we did get the blowout number for second-quarter u.s. gdp, but that was not what was propelling the markets down. the s&p 500 down .7%, the worst in three weeks. it was earnings. you can thank twitter for friday, the share price just tanking because it missed in terms of the subscriber count, down one million. the nasdaq down 1.5%. there could be some respite for this because looking ahead, apple does report and there is a lot of hope that its market cap
might push the one trillion market, which would be the first time ever any company would do that. haidi: much-needed support for the tech sector. bank of america merrill lynch said it stopped buying coal stocks through what happened to facebook is peaking in those stocks. those stocks, go along for emerging markets, that is the recommendation. in asia, we are looking ahead to major market open. this is what we see in terms of an early session. .2%.ealand up .2% -- off sydney futures looking negative into the monday morning, the aussie dollar holding above $.74 u.s.. we had stocks falling in reaction to the low -- the .lowout with gdp japanese assets in focus, the
bank of japan meeting today, the decision expected tuesday, the yen holding at 111. nikkei futures want to keep in mind as well because in addition to the curve control policy, expecting the bank of japan to discuss reducing holdings of nikkei 225 stocks given there has been criticism that they are holding too much of a stake in certain companies. but get to top stories. 4.1% growth in the second quarter. president trump and treasury secretary stephen mnuchin are delivering a rosy outlook. >> we can only project a couple years in the future but we are well on this path for several years. i don't think this is a one or two year phenomenon. we are in a time of 4% or 5% to stay, for five years of sustained growth. five years of sustained growth. haidi: the fed and other economist don't think mnuchin's
forecast is feasible. ros: it is true. i think the trump administration forecast, it looks optimistic compared with most that we know of, the fed, the imf, the world bank and others. say it is understandable mnuchin and kudlow would be on a victory lap after friday's strong gdp number, but a i think it is difficult to forecast the economy more than two years in advance, and mnuchin is saying four to five, which will make people think that is hard to do. ,nd the other headwind structural and policy headwinds in the outlook as well, the baby boomers retiring, the impact of tax cuts fading, the strong u.s. dollar and trade wars. very interesting comment on this afternoon from charles koch, the
billionaire republican donor, having a big conference in colorado. he basically said it is possible protectionist trade policies could ultimately kick the u.s. into recession. he doesn't know when and how severe. basically says the prosperous nations don't engage in trade wars. that is a huge headwind that lots of economists see. being acknowledged by members of the trump administration at this point. ramy: it wasn't just mr. mnuchin making the rounds. larry kudlow, the national economic council director said trump should not be blamed for the damage. >> people say, president trump's tariffs are damaging this, that and the other thing. i say don't blame president trump. he inherited a completely broken
world trading system including a world trade organization, most particularly china but not always china. ramy: who agrees? manyi don't think too agree with everything larry kudlow said. there are many people who there is resignation -- there is recognition with the world trading system and things could even manyut businesses in the u.s. and republican lawmakers, you know, don't is a surly buy into the idea the administration is on the right path. they think there may be ways to address problems without going full on trade war. in the past week, as you know, we had profit warnings from general motors, westinghouse appliance maker talking about unintended consequences of steel and aluminum tariffs. they were happy when the administration put -- not happy
on the tariffs on washing machines. they did not expect to get hit by the knock on steel tariffs. i think people want a different solution, and they are concerned. ramy: bloomberg editor ros krasny from washington, dc with the latest out of the white house. central banks set the agenda with bank of japan and fed wednesday.uesday and that is followed by the reserve bank of india and bank of england. kathleen hays is in tokyo this week for the bank of japan meeting. there has been speculation governor kuroda may tweak policy. what is the likelihood? kathleen: speculation is red-hot. at the very least if the governor of the bank of japan is not ready to fully announce a step towards a small but powerful, potentially important
change in how yield curve control policy is conducted, it will be a surprise because whatever he announces officially he will be just smothered with questions at the press conference from just about every reporter who is there. speculation started a week ago, reports in the press from reuters, bloomberg and others, saying there is something in the works, a small change in yield curve control to let it not be just the 10 year -- not firmly cemented to zero, but something higher, maybe 0.1%. not a big deal on the outside, but if you are a bond trader or investor or the bank of japan who needs steepness in the yield curve, it is important. take a look at the chart. one of the gtv charts, you can see something everyone is watching closely, far right hand side of the screen. the boj has been coming in
0.11 to push the yield down. you recall on friday they did not come in in the morning. in the afternoon they did but that got everyone's attention. also wasenda inflation, the key measure less than 1%, 0.8%, 0.9%. they will reduce for something in the mid-, around 1.5% according to reporters over the weekend. a lot of focus on the boj. it is the one that could move the bond markets this week. moving on to the reserve bank of india, they are expected to hike their key rate. i should point out that bloomberg economics thinks it is down pat. kathleen: bloomberg economics is on the minority. they have been looking at the reserve bank of india to be more conservative. they think inflation increased
has been temporary and the r.b.i. realizes this, they will stand pat. it is not a complete majority saying they will raise, but that is what everybody is looking at. 6.5%. they have a lot of stuff they are looking for because they had a cash crunch, raising borrowing cost, bond yields have been, bond prices have been crushed. yields have risen sharply, so the r.b.i. have to deal with that. the rupiah has been weakening. they are having chart does trouble with the bond market. a hold would be a bit of a surprise, but that is something to keep in mind as well. maybe they will be more cautious at this meeting instead of the last one where they went up 25 basis points. haidi: we will be hearing more from you this week, rather busy, aroundbal policy editor
these bank decision this week. let's show you to first word news with haslinda amin in singapore. haslinda: social media sites are said to be facing tough new content loss in europe as brussels cracks down on terraced messages. t messages.- terroris germany has passed laws that threaten social media platforms, find them up to $60 million to tackle the content. thinking ofump is the idea of shutting down the federal government if he doesn't get his way on immigration and the border wall. he is willing to bring washington to a halt. republicans say they doubt the shutdown will happen and action on the border wall can wait until after the midterm elections. australia's finance minister has rejected suggestions corporate
tax cuts should be reviewed byer the government defeat elections. the opposition labor party retained the seats it was contesting after a campaign that painted the turnbull government have a friend of big business. australia must compete with lower tax rates in other parts of the world. the world's biggest copper mine is facing strike action after union leaders rejected a pay offer. are voting in chile whether to accept what the company says is its final offer. support for the election is overwhelming. talks last year failed and triggered a strike with no agreement. it has led to a global copper deficit and higher price. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am haslinda amin. this is bloomberg. ♪ komatsutill ahead, reeves rising profits despite
i am haidi stroud-watts in sydney. ramy: i am ramy inocencio in new york. you are watching daybreak australia. this is turning out for a central bank week with policy meetings in the u.s., japan, the u.k. and elsewhere. the markets are expecting a possible surprise. the week takes off with the bank of japan tuesday, followed by the fed, the reserve bank of india, wednesday, then the bank of england let's bring in a senior fellow, carl smith, who is also a bloomberg opinion
columnist coming to us from washington, dc. looking at what happened with the gdp read, with the fed here, it seems like two more hikes are in the cards. carl: i think that is probably right. if anything we are looking at the possibility of another hike being moved up. the numbers came in pretty strong. everybody thought they would be, but to me the underlying demand looks at the top of what anyone would have thought. you would exclude some of the boom we got in exports, but still it is strong. ramy: critics are saying this blip or this pop is temporary. what you think? karl: i don't think so. one of the reasons people think it is temporary is the tariffs coming on, agricultural, soybeans, and a lot of farmers trying to move products overseas early very many that is
contributing to high export readings. these are the numbers where it was counterbalanced by reduction in inventories, sold-out of inventories, exports ad inventory subtracts. it is about a watch. how much american consumers are spending, how much businesses are investing, it is about 4% growth rate. that is high. i think it will continue throughout the year. ramy: we also did have folks from the white house talk about fed independence. i want to play this and get your thoughts. >> he absolutely respect the independence of the fed, and the issue is the market expects interest rates to keep going up, so the old question is -- the only question is how long and how far and we think the fed will be careful managing the economy. ramy: steve mnuchin talking about that. walking back what has been happening from donald trump himself the last week or so, do
you think there is any impact or it is posturing? karl: i think it is posturing. it makes it harder for the fed to be easy with the president putting pressure on them. they don't want to look like they are bound to political pressure, but the data supporting them being as tight as they were planning on being, so i don't think it will have a lot of long-term impacts. the president is known for making extreme statements, so i doubt anyone inside the fed takes it seriously. haidi: looking more to the medium and longer-term, if you assume these tariffs are here to stay, even to be worsened if the tit-for-tat gets worse as time goes on, -- most people think it will be short-term inflation, but does the fed have the policy tools to do anything about that? karl: i think they do.
at least for right now they have a little bit of room. the underlying demand, especially because the tax cuts gave extra boost in demand, not necessarily the supply side -- the traditional sort of demand-side boom. that allowed the fed if they need to tighten up a bit to control inflation, that allowed them to do that, even without risking outright recession. i think they had the tools to deal with it. to keep going for years and years, and we don't know how bad it will get, it could be a little more of a problem. at least we have seen so far, i think the fed has more tools -- more than enough to handle. what about the strange, some people would say, counterintuitive strength of the dollar, this return to safety stemming from really most say a trade crisis or confident crisis
that began in the u.s.? karl: we saw that during the financial crisis, saw that years ago in the.com crisis although everett -- the dotcom crisis even though everything moves to the dollar. most held in reserve, the liquid. we get this effect over and over again. united states causes problems, but it strengthens the dollar. uncertainty is global and a trade were create global uncertainty. it is not clear who will be hurt the most, if there might be any winners in the short-term. nobody wins in a long trade war, but you never know how it will sort off. the level of uncertainty will bring us back to the dollar. even when the united states is absent on the prices. haidi: i want to end with the last word on the boj. market speculation has run
rampant if they may or may not. do you think they will stray much from the monetary policy they have found themselves in? karl: i don't. they are under pressure mostly from banks who need yield, but i don't think they have any intention of moving away from essentially a long run zero policy. 10 basis points, even 20, something that will allow banks to make profit, macroeconomics, it is no different from the very long-term zero policy they have had. if anything they will counterbalance, doing more stuff with etf. i don't think it will change. it will have no room to change. inflation is well below what it should be and there is no expectation it will go up. i think we will see the boj continue with the policy as far as we can see. haidi: appreciate your thoughts with us. senior fellow who is also a
ramy: a quick check of business flash headlines, softbank owned arm holdings is said to be buying analytics firm treasure data. that is a deal worth $600 million. this is part of their push into the internet of things. they acquired stream technologies, a scottish company that improves connectivity. they -- softbank bought arm two years ago for robotics and driverless cars. haidi: chinese biotech company biogen aims to raise $190 million u.s. for a secondary
listing in hong kong. raised $20this has billion globally over the past 12 months. this compares with the previous time. listing onthought of nasdaq. ramy: u.s. oversight until the end of the year, compliance measures still insufficient as of the end of the decade. the prosecution was to have expired at the end of the weekend but it has been extended to december 31. they have made significant progress but have not reached the level required by the deal. haidi: australia's opposition labor party emerged as a winner for elections. we are joined with more. is this a setback for the prime minister? paul: the opposition labor party are happy with the result.
it was a suggestion from the government it stood a hope of picking up seats in queensland, tasmania, but there was swing to the opposition and all of the seats, the other one that was held by the alliance -- no success at all for the government on super saturday. malcolm turnbull brushing it off, said the opposition has nothing to crow about. meantime is saying -- bill in the meantime is saying he is happy. is shores up his job and is something the opposition was campaigning on was the man has as weakness in the prime minister. interesting thing is talk of early election but after this, what is the status? paul: that talk has gone quiet. there was a feeling we might have an election, now looks like the government will go full term
until may 2019 because there is not a great deal of political momentum here. another thing up for grabs is the corporate tax cuts. this is not a ridiculous popular policy with the people but the government will pursue it. the government says it will push for them, but we could see corporate tax cuts going on ice as we build up to the next general election probably 2019. ramy: paul allen, thank you. central banks are back in the bond market, driving seat. we will preview the week of policymakers. we have the fed, no expectations. that will be live, but concern about tariffs with the bank of japan. there is possibilities there might be a yield curve tweak or talk. the bank of england looks the most live of all, possible 25 basis hike. this is bloomberg. ♪
sydneyit is 8:30 a.m. in where markets are opening in 90 minutes time. futures looking negative on the first trading session of the day. i am haidi stroud-watts. ramy: i am ramy inocencioramy: in new york. you are watching daybreak australia. let's get to first word news. haslinda: treasury secretary steven mnuchin has said optimistic forecast for the u.s. economy, one at odds with many including the fed. he said he expects for five years of sustained -- four or five sustained years of growth.
supportfew economists that, saying the u.s. economy will barely obtain president trump's goal of 3%. >> we can only project a couple years in the future but i think we are on this path for several years. i don't think this is one or two years. we are in a time of four or five years of sustained 3% growth at least. president trump's top economic adviser is accusing companies of failing to tell the truth about sometimes disappointing earnings. seeingudlow said he is firms reporting weaker than expected results and blaming them on tariffs and the simmering mobile trade war's. he said it is poor execution and management although he declined to give any examples. >> people say, president trump's tariffs are damaging is, that and the other. i say don't blame him.
he inherited a completely broken world trading system including a wto most particularly china but not only china. the cambodian leader has extended his three decades in power, winning an election that featured no meaningful critics after he disbanded the opposition. his ruling party got 70% of the vote, but the victory was never in doubt. he file its political dissent, following an election in 2013 where the opposition national rescue party nearly one. -- won. bold -- mission and possible topped the box office. $51 million in the u.s. and canada and $150 million worldwide. in chinese film also cashed $130 million take on its opening
weekend. the film tells the story of a retired football player who finds unexpected fortune. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. amin.aslinda this is bloomberg. ramy: thank you. let's get more on what we should be watching us trading gets underway in asia with the global market editor adam haigh here there is a warning from bank of america saying facebook hammering last week has had a deeper significance. could this be a sign the market is peaking? adam: this is the thoughts of michael partner. he is a strategist at bank of america. he says it is time to put on the andt think -- faang trade see declines. that has been a fool's errand over the past few years area there have been a number of
opportunities where people have said is over, valuation getting too stretched. the leaders thomas their time has come, now you want to short these things. michael think now is the time -- thanks now is the time. is theael thinks now time. it was very significant because of the size and magnitude of the record one-day decline in facebook, but it is part of a bigger trend. he is talking about the way stocks performed going into the late cycle when the fed continues to tighten monetary policy and some air comes out of the balloon keeping these stocks running. it is tough to call at this stage whether it is a good trade to put on. he thinks it is. there has been a number of times in the past where people have called this trade and have been hammered hard in the short squeeze. we will keep a close eye on this. haidi: we had continued slide in the yuan, the markets equity
.ise got a rally questions whether that is convincing or not. pmi as well. what are you looking for? adam: there is a bit going on. the ultimate thing is the level of currency relative to the dollar. we look at it relative to a basket as well, but it is clearly at the weakest level in a year. what is interesting in the forwards market in the difference between the fx market and spot work it is we are trading at a reasonable level which shows people are not betting on -- it is a great church here in the gtv library that shows the gap between forward currency markets and the spot market. there is ample liquidity with what policymakers are doing in china and there is not that fear weng the fx community that go on a sustained prolonged decline in the currency. that is the set up this week, but of course we did have
stabilization last week, bit of uptick in equities but still sentiment is fragile and being driven by incremental additions to policy support we are seeing from the authorities from day-to-day. people need to continue to watch every little tweak and fine-tuning from the pboc. thei: adam haigh setting up trading week. don't forget to check out our library for the shards adam showed. -- charts adam showed. from melbourne is the soldier brothers asset manager and atlas c i/o george burress. i want to talk about trade and start up with this chart from the library. we had optimism kind of shining through when it comes to progress being made on the european front between u.s. and e.u. trade relations.
we have this chart that shows the said at play when i comes to the deficit trump has been with the e.u. e.u. and china. in asia that remains more fraught than ever, but this narrative, trajectory of starting off somewhere extreme, getting negative sentiment going on in the markets, then coming reasonablech negotiations, is that something you expect or hope will be the -- will be replicated with other nations? just, it is some form of replication. from the market perspective we have to absorb what is going on and its applications for global growth, synchronization of global growth and synchronization of global growth as a result of trade wars that increasing towards
the end of next year. forwarda platform going that donald trump has started with robust efforts in his own way. the trade talks have started in a way that have to be completed or take time. it is piecemeal and from a market perspective, quite messy. it, theimplify synchronization of global growth and of the mature stage of earnings in developed markets, that is in early 2018 calendar or last year story this time next year to reinforce the trade confusion and trade wars don't really lead to fluidity and expanding conditions across the globe. it does benefit the u.s. in the short-term. the d synchronization of growth would be the thing -- same this time next year.
haidi: do you see resilience in some parts of the world continuing to accelerate? how do you capitalize on that and i guess hedge against the trade uncertainties? obviously needs to be much more active. for example it is piecemeal. u.s. trade wars, the mid-cap, small-cap u.s. protectionism, protecting the earnings momentum in that segment is a reasonable place to be. you take the listed profit and -- off the table. having said that as well, in the and ir term the 90 day think some market participants would say the steepness -- the recent steepness in the past 10 days was overdue given we thought it was over correction or the inversion was overdone. you cannot see that given the momentum with the u.s. that would suggest you can
extend duration which was quite risky with u.s. treasury's, but the high-yield -- in the short-term, the inversion was overdone and people can see value extending with the u.s. 10 year. for example if they get to the 3.10, 3.20. commodity volatility will pick up, not energy but regular volatility. people will start to talk about decent cries asian and the impact of -- desy nchronization. ramy: there is a big party in --y major parties here countries here. the bank of japan, yield curve, possible tweaking, talk, action? what do you expect? george: expecting the bare minimum. we had exuberance and excitement
last week but are expecting commentary around the weaker inflation data from the boj, and that would be all i am looking for. anything else would be a nervousness of the market one way or the other. to reinforce, the bank of japan, to reinforce weaker inflation numbers, have to identify those but not expecting much more this week. i know the markets, talking about other narratives around it, but i cannot see why, the benefit of them doing anymore than that. analysts say yield curve control is losing its affect. what would you say? george: i agree in the broader sense. but centralgic, banks should be actively trying to engage in different parts of the yield curve reflecting policy decisions. because it does it all the time
doesn't mean you should not be doing it. topi: what is the conviction trade? there is a pivot in belgium rose? the belt and road, we -- theconcerned that contrary and schematic would be, is there a way they can pivot in a way -- this is a long shot accord, but to reach out with the developed world and make everyone more comfortable because the decent cries asian of global growth -- the desynch ronization will be disturbing and will not help emerging economies. looking at what is out there to stop, and the belt and road initiative is rolling out regardless. is there a way they can do it in butnner -- longshot again
[indiscernible] in this part of the world, the belt and road initiative is everywhere in a solid fashion, very persistent. africa, it is there and other parts of the world. the belt and road is not slowing down. i think the market has got to price that in. haidi: always appreciate your views for us, soldier brothers asset management and the capital asset management. clouding the outlook for the industrial sector, looking at komatsu's earnings and it there earning rival caterpillar. this is bloomberg. ♪ s bloomberg. ♪
in sydney. a look at the business flash headlines, an unexpected loss and setting up five more money to cover debt. the mumbai best -- based lender had an $18 million loss compared with a $213 million profit for .een by economists but they were the lowest in 11 -- nearby loans were the lowest in 11 quarters. they are looking at corporate governance practices. ramy: petrochemicals business, the weaker rupee boosted earnings. jumpinglion, but sales 36%. the billionaire upstart telecom business alliance geo reported a third straight order of profit. zte revised their first quarter profit to a loss of $700 million after more than $1
billion in u.s. fines. the telecom equipment maker had already flagged losses from the penalties in the first half alone. they are getting back up to full speed on resolving the ban on purchases of critical american technology that shuttered its factory. reported bumper quarterly earnings even as the trade war threatens to derail global growth and crimp demand. net income of the heavy equipment maker was $567 million, double the figure from a year ago. komatsu affirmed a view of full-year profit at $2 billion. one of the big names reporting earnings in the u.s. monday ,ession is a competitor caterpillar. it is viewed as a key bellwether for the strength of the industrial sector. su keenan joins us. caterpillar really has taken a hit because of the trade
tensions. su: the stoxx are beaten up -- stocks are beaten up. take a look at how we have wins.med in a quarterly that is the story, some analysts warning this could be the quarter where the street it snapped -- streak gets snapped. analysts have said an all-time high of six point -- could be that net income posted as they expand economies. there is robust demand for the manufacturers, bulldozers, they are the dominant player for this time of this type of equipment. but the shares had their worst half since 2009, slows rebound, get more than half their sales outside the u.s., so this trade war is a big risk. revenue forecast to arrive at $14 billion in the second quarter and net income to rise to $2.59 a share. take a look at the big picture
before we go back. they will be reporting before the opening bell, so that will be setting the tone for monday trading. watching the bellwether. we had big earnings friday that could play into this week. catch us up on what happened with exxon and twitter. su: big oil has been a big focus because of the oil pits. exxon had a big disappointment, stock dropped 4% intraday on friday. they fell short of estimates and cut production targets from 4 million barrels. they announced they would spend $200 billion on projects up to 2025. analysts said this may not be the time to make that kind of announcement. income 3.95, expecting three point -- the stoxx reflecting this disappointment -- stocks reflecting this disappointment.
this chart shows twitter. it dropped big-time, one million left -- less than the prior quarter as twitter goes through and cleaning up accounts to get rid of robots and fake users and the rest. it is having the same problems that facebook has had, but if we go into the software you can see it got hit by 21% friday, intraday. it managed to reduce the loss in the middle of trading and closed near the low 20% so that could weigh on the monday open. the market is unwilling to wait and see if things get better apparently because they did beat net income earnings for the third consecutive quarter which helped drive shares 79% higher going into this time. they beat on the numbers, but the user data is what overshadowed. haidi: thank you so much, su keenan. rap of earnings and big week of
earnings still to come. looking closer to home, dividend payout growth expected to cement australia's position as one of the highest yielding developed markets of iron ore. matthew burgess, what is behind these payoffs? reporter: it is commodity prices. when we start looking at bhp and italian demands for high-grade iron or and stocks as well. we are seeing a lot of cash being returned to shareholders of both bhp and rio tinto, expected to pay out a quarter of the expected $27 billion australian out of the earnings season, looking healthy. haidi: reporting earnings later this week. what about companies against the grain? matthew: what is good for bhp is bad for fortescue metals.
cutting over a quarter from this time last year, because the low-quality iron ore has persisted. they are putting -- trying to build a new mine to get up the great ramy them their iron ore, so bad news for the shareholders . toaster as well, cutting their dividend from the same time last year. this was flagged last year. they have a lot of issues. they are building a fourth wireless network, and a management restructure happening from including -- stemming the massive restructure they announced in june with job cuts. ramy: how does australia compared to other markets? -- compare to other markets? matthew: they are income happy. we love cash payouts from companies. australia is the third highest yielding market, developed
market in the world, behind the u.k. that is not because the u.k. like paying a dividends but it is more of their performance. they outperformed the united states, running a little lower. that is because the companies over there are more inclined to return cash to shareholders by way of buybacks rather than dividends. in australia we have a special tax policy good for dividends called a frank in credit, so you get a tax break when companies payout dividends. all the tax has already been paid. ramy: our asian equities reporter, thank you. ear can watch us live and h pass interviews on tv . you can dive into any securities or bloomberg functions we talk become part of the conversation by sending us instant messages during the shows. this is for subscribers only. check it out. this is bloomberg. ♪
haidi: that is almost it for daybreak australia, but yvonne and raby -- ramy will be up next. looking up what is coming. yvonne: we will talk about how it will be a blockbuster week for central banks, the boj certainly in focus but also a lot on the trade front. the e.u. and u.s. detente in trade negotiations last week, what does it mean for japan? it has been punished by the tariffs on steel and aluminum. we will be talking to a professor and former bank of japan foreign ministry trade negotiator. he will be joining kathleen hays in tokyo this week covering the boj. he says there is possibly a chance the u.s. might need a u-turn when it comes to joining the tpp again now we see more of spat.ade
it will be interesting. ramy: when will look at the asian outlook for this week and beyond. that is with the principal global investor executive director curt west. he is saying his preferred region is in emerging markets. it is interesting because this is the backdrop of that hiking and dollar strength. we will take a deeper dive with the rmb decline. he says any corrections if they are inevitable tend to be short-lived as long as they are strong macro fundamentals. to the fxking ahead landscape, we have the head of asia rates for bank of america merrill lynch. talking about the boj, even if they did tweak, it would prove to be insignificant, so watching for any disappointment if you
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