Carrying hefty price. Are ready to pay, you might not get it for weeks. Hello from sydney, it is just past 9 00 a. M. , this is daybreak australia. What about an hour away from the open of the major markets. Im going to wait a few months for the iphone x. I am in new york. Friday, no waiting for the bulls, we saw tech stocks, roaring back and pushing the market back to record level on the s p and the nasdaq. Lets pull up the markets guide to show you where we ended on friday. Well above the s p 1 . Take a look at the nasdaq, up 2. 2 . We know that the search in amazon shares have made jeff bezos of amazon the richest man in the world. By by bill gates. He kicked him to the curb. Haidi [laughter] extraordinary stories. The earnings, the biggest tech earnings, they continued this weekend. In particular, u. S. Investors. We have the fed leadership announcement from President Trump before he kicks off the 11 day trip to asia. We have all sorts of central banker meetings. The set has taken a backseat. The fed has taken a backseat. In asia, lots of key things we are watching. Where setting up for a positive session. We have yet more record highs in the s p. New zealand think the upside, 2 10 of 1 , kiwi dollar, 58 point 57. It could result in lower interest rates, they could be targeting employment as amended, as well. Sydney, very strong upside, about 34 points when it opens for the session. Point72 76 point72 for the aussie dollar. President trump point out a video sing he will announce on the fed this week. We are keenly watching this latest episode of intrigue, President Trump. What did he say . Drumroll, please. Hisut in Instagram Video to 41 million twitter followers, that the said decision is coming this week. Decision is coming this week. I will be announcing this coming week. It will hopefully be someone who will do a fantastic job. I think everybody will be impressed. Kathleen terrific reporting by our White House Team over the weekend. He is leaning toward jay powell. Three people are telling bloomberg news. He continues to be in the lead come at a former banking executive at the fed since 2012, we have janet yellen, the current fed chair, trump found her polished in his meeting with him. Taylor, theohn Stanford University economist, creator of the taylor rule, also impressed the president. Also keep in mind, steve mnuchin, the treasury secretary, told reporters that the president is unlikely to nominate the vice chair of the fed at the same time he announces the fed chair pick. This seems like the town, he leaves for asia on the third. Trump has made it clear, fasten seatbelts. You are in tokyo to cover the boj policy meeting, that is today and tomorrow. What do we expect . The boj is held in one place by one thing, low inflation, so low it is under 1 when it needs to be over 2 . Thats a look at 7942. Lets look at 2942. Will they lower their core cpi forecast . Of 1. 1 to it an increase percent. That is one of the key things that could change. Mobile phone prices are dropping. A tailwind would be less like in the labor market, a weaker yen. Yield curvej keep policy study. And retail for september, supposed to be up 3. 2 percent yearoveryear, they are up 1. 8 in august. That should give them more confident their head in the right direction. Betty we also have the fed holding a policy meeting. No move is expected. Are we going to learn anything new . Particularly as they lean toward a rate hike in december. Kathleen the november meeting, no press conference, thats one of the reasons why there is 0 chance the futures market, they will move in. Move comes ine december. Very important, the u. S. Gdp never came in stronger than forecast despite the hurricanes, 3 , 2. 6 was the forecast. Look at 3101 with me. You will see a line at the far right hand side of the screen. 3. 1 insee the figure, the previous quarter, 3 in the score, the best backtoback quarters in spite of the hurricane, since early 2015. Weaker spending on oil and gas, home construction, but people bought a lot of cars. On the fed is watching docket today, on monday in the u. S. , the core pce inflator will be released along with personal income spending, and supposed to stay at 1. 2 yearoveryear. There also watching the jobs numbers, jobs expected to write some 300,000 30,000 after falling 40,000. We will see if all of this comes together in a couple of months. This week, we will watch the policy statement for more clues of where theyre heading next. Kathleen hays in tokyo. But get the first word news. Pro spain demonstrators gathered in barcelona as lawmakers rejected catalan control. The parliament is putting the administration and the hands of deputies. The next test comes later on monday when Catalan Government gokers decide whether to forward with independent spirit independence. A u. S. Watchdog is calling on go forward with independentall parl parts of the iran accord. Its been revealed the iranian on therejected silence of the you in general a simile. President trump has released a flurry of tweets attacking Hillary Clinton and democrats as news comes that a grand jury has made charges. The first arrests in the investigation could come monday. He called it phony collusion and accused democrats of a witchhunt. A new poll for nbc news and wall street journal but trumps approval middle at 38 , the lowest in modern times for the stage of administration. Amongrvey showed support republicans at 78 , republicans it just 8 . Lowest for the iran nuclear deal, health care and puerto rico. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am rosalind chin. This is bloomberg. Betty thank you so much. We are going to focus on fed the fed and trumps push for tax reform. Changes in the tax code could only happen in 2018. And the challenges ahead for the aussie Prime Minister. This is bloomberg. Im in sydney. Betty and i am in new york. You are watching daybreak australia, investors are waiting for announcements from the fed, and boj this week. We have a jobs report on friday, also President Trump and his trip to asia, before which we will expect to know who the next fed chair will be. It will be a week for the markets. Strap your seatbelt on. Lets get more analysis from washington with peterson. Nstitute for international thank you for joining us. It will be a busy week this week. Lets first tackle tax reform. The house ways and Means Committee will be putting out some of the details on tax reform on their budget this week. What do you expect out of the committee, and do you think it will give any cut of momentum to getting tax reform done by december 31 . About how lowdea do they want to take the Corporate Tax rate, and more importantly, what are the deductions they will reduce . We haveind of details been missing so far, and quite frankly, why until now this debate to me has been almost surreal. It has been so devoid of any detail that we dont know who is going to be hit and who will be the winner from this. Until we know that, we can have a proper debate. Hopefully, we will have this starting this week, but still, if you look at all of the other things that the house and senate have to pass on the fiscal side before december 31, we have to have a budget, a debt ceiling past, etc. , i find it hard to believe they can make it. Betty what you make of the gridlock even on the property tax reduction, right, and some of the states where republican lawmakers like new jersey, new york, they have the most trouble with. I no caps on brady is trying to find a middle ground. What you make of even down to the wire, there is gridlock on even one of those credits . Jacob it is indicative of where we are. The reality is that the a a slim majority in the house and a very slim one in the senate. They cannot afford to lose many votes. But they will have to find money somewhere, they have to step on somebodys toes, or they are going to vote against it. I think they will pass something in the new year, but i dont think it will be a very big tax cut, and not a conference of tax reform. Is thisthey will passbetty ams whole race on who is going to lead and be the next chair of the fed. Now fromlike right these reports, and they go back and forth, it will now from these reports, and they go back and forth, it will be jay powell , at least today. Does that mean the fed will stay on track to where it is now . Jacob yes, i think representative jayapal of the republican picks, hes probably the most middleoftheroad candidate. To me, the interesting question howill get an idea of just close the Trump Administration is to the stock market. I think if he surprises people and real points janet yellen, appoints janet re yellen, that will mean there is virtually no uncertainty about where Monetary Policy is going. It will be good for stocks. Otherwise, Jerome Powell is probably the closest alternative to janet yellen. Haidi you can see on the predictive side, powells also gone up to 80 . Is this assumption that President Trump, despite yellens credentials and arguments to keep her in place, he will want to make his own mark by choosing someone different . Jacob yes, fundamentally donald trump, i think part of this is part of the problem that of the many people he could pick, he likes to take people that are personally loyal to him. That of course means that he has to pick his own person. In this case, the indicators point to powell. Haidi were just sort of moving our way through this actionpacked agenda week. Trump in asia, 11 days, he is visiting China Company by rex tillerson. How will this contrast with the maralago meeting . Especially coming off his high with the Chinese PartyCongress Last week . Jacob in some ways i think it will be a bit of a continuation of maralago. It is my belief that the basic and trumps struck at maralago, which is that the chinese would be more helpful on north korea and the Trump Administration would hold off on at least the more aggressive trade war antics on the trade front visavis china, i think that modus operandi will hold also from this meeting, this bitt, and therefore it is a of a status quo continuation visit, and my opinion. Haidi when we go on the whole global vacuum argument . It looked like china was ready to step in, but after the rhetoric of the congress over the last couple of weeks, it doesnt seem like the government model for china is going to change adequately for the presidency to step into that role. Jacob no, lets be clear. North korea is an indication of just how weak china is geopolitically. This is a country that claims to have global aspirations for its power, but it is unable, quite frankly, to keep a small country on its own borders and check. That is not the foundation for building a true rival to the United States, or indeed the west. Unfortunately, i think the reality is that we are going to remain in this sort of g0 world where the United States has a , a lot donald trump, vacated Global Leadership and the rest of the west is not Strong Enough to lead, it neither are any of the economies like china. It makes more dangerous, as weve seen in the last few weeks or so, it makes more dangerous situations like we are seeing in north korea, right . Or in catalonia. World, youave a g7 dont have a g10 world, you have an increasingly g0 world. Jacob there is no doubt that in this world, there is an increased risk of miscalculation. There is no doubt about that. Firstly, i think fortunately, that risk is quite low in north korea, because i think you do have adults looking at this in the white house, not necessarily including the president. Betty who . You mean mattis . Jacob yes, lets be clear, there are a bunch come in my a bunch of credible generals for better or worse, who are on top of the situation. That, theinto secretary of state, tillerson, i dont think therefore that north korea is going to spin out of control. But that does not mean it will be sold. That does not even mean it will be put on a better path, for that matter, but that it will be contained. Betty so it wont spin out of control, it might not get better, it might be contained. What does that mean . What itn the long run, looks like, what it means is that there will be a time, in my willon, where north korea have an Intercontinental Nuclear armed missile that can hit the mainland of the United States. As such, the United States is going to have to live with that is there is no military solution to make it otherwise. That just means the United States will find itself in the same situation as japan, south korea and many other countries that are currently within the range of north Korean Nuclear weapons. That is the unstable Nuclear Balance of terror, if you like, that we will have in northeast asia at the end of this. Haidi the recent events of the last few days over catalonia, the you see this as something where defiance prevails or pragmatism . Jacob so far, it is definitely defiance, that i think at the same time, finally, this weekend we got some sensible policies from the spanish government. I dont think they had a choice other than to dismiss the m government dismissed the Catalan Government, but then they will have new elections in december in catalonia. And governmenta participates in these elections, they will basically admit their independence was a sham and the declaration was meaningless, but on the other hand, if they boycott the elections, they will lose any credit legitimacy they may have had any democratic legitimacy they may have had. Ultimately, i think we are headed for a quebeccanada scenario, where you have a powerful Secessionist Movement that ultimately will fail. I dont believe catalonia will become independent from spain, but the process will inflict significant damage on the catalan economy in the long run, just like what happened to quebec. Haidi you think theres a Systemic Risk to the overall european economy . Jacob no, i dont. I think there is a shortterm risk in spain, because we will have to see what the outcome of these elections will be. , not that it is something that will spill over to the rest of the euro area. Haidi jacob, a pleasure. We covered a lot of ground. The Peterson Institute for economics. Getting your we started on we have anelevision, executive at half past 11 on monday night. We will be talking about donald trump is for the fed tonight on bloomberg markets. Also, we will talk with jack night or the Early Morning of tuesday. This is bloomberg. Good morning, i am betty liu in new york. Haidi im haidi lun in sydney. Apologize for lying uncertified inspectors to conduct quality inspections. Are expected to recall more than a quarter of a million vehicles. More than a million domestically made cars had similarly unauthorized tests. The inspection has been complicated and of a high standard, but it is to the unauthorized inspectors were involved in the quality process for more than 30 years. What is most important is that whenever questioned our system for three decades. It is time for us to rethink what is most appropriate and clarify our future inspection policies. Betty another hit on japan, inc. Bond risk is at a new low. Todit default swaps dropped 226 basis points on friday, the lowest since october 12, after rising as high as 385 at one point this month. The levels it below of toshiba, which is dealing with a corporate scandal of its own. Haidi National Australia bank says the impact of its over break ath delegation spirit the regulators the cost andg donate 20 million to a Consumer Protection fund. The bank admitted breaching regulations on the Bank Bill Swap rate 10 times between 2011 and 2010 and 2011. Betty investors and analysts are looking in resilience in revenue after share buybacks in capital. Cost energy should reach the banks size goal. Live coverageyou of hsbcs results announcement, plus Market Reaction and analysis at and i midday hong in london. 5 00 a. M. Up next, President Trump going after Hillary Clinton and the democrats on twitter. Yes, it was a fire again this weekend. This is ahead of potential charges over alleged russian involvement in the u. S. Elections. The latest on the drama in d. C. , what is at stake straight ahead. This is bloomberg. Who knew that phones would start doing everything . Entertaining us, getting us back on track, and finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing xfinity mobile. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit or go to xfinitymobile. Com. Is 9 30 a. M. Here in sydney. We have some positive features when it comes to asia broadly. We will take a look at citicorp and sydneys futures ahead of what is turning out to be a sunny, hot day in sydney. I am haidi lun. Betty i am jealous. It is measurable in new york, rain all day. I am betty lou in new york, it is 6 30 p. M. , youre watching daybreak australia. Of get the first word news. President trump estills the fire speculation about the next fed chair by publishing a video saying his decision will come within days. Towarddly, he is leaning Jerome Powell to replace yellen. The president has said he will make his decision known before heelys huishan friday. Before he leaves for asia on friday. The u. S. Should reassure north korea there is no plans to force kim jongun out. Theh korea and trade are on u. S. Agenda for when the president visits asia. The heat is being turned up on caps on. On qatar. This comes more than four months into the crisis that has seen qatar sealed off from neighbors. Rex tillerson has attempted to mediate, but says one cannot force negotiations on people who are not prepared talk. And japans two Biggest Airlines are announcing results with operating profits said to be topping 1 billion. The figure comes from the nikkei news, which says that rival Japan Airlines will be 880 million in the same period. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am rosalind chin. This is bloomberg. Haidi thank you so much. In quick update on the markets this week, a brandnew trading week, lots of the agenda as weve been going through a lot of centralbank decisions, earnings, apple, and geopolitics in the mix. Donald trump kicking off the 11 day trip to asia. Early days when it comes to the asian session, new zealand with early gains, just of 1 10 of 1 , the kiwi dollar at 68. 63. That is down since the election in late september. We have some suggestions that the Monetary Policy mandate, it could result in lower interest rates. Figures in australia, were seeing up about 6 10 of 1 . 76. 71 aheadollar, of the pmi, a big data point for the china proxy. Get more on what we should be watching as trading gets underway in asia, we have our local markets editor here with us. Equities looking to get a strong start to we have a good tailwind coming off the u. S. The best u. S. Gdp in three years. Lots to be digesting this week. Is, but ultimately it comes down to earnings and optimism is strong going into, and the next wave of earnings we will see in the next week or two. The question is, whether they are big enough or Strong Enough to deliver. , ahave petrochina, sinopec lot of different sectors, not just oil, we have chinese banks coming out today, we have tech. There is a lot riding on those earnings. Before, thesaying context of the Global Environment is shaping up and why investors are continuing to invest in the market. , theselook on the gdp , they are significant weves, with the pmi heard from places like europe, japan, the u. S. For october, it continues to paint broadening Global Growth story, which is potentially leave room for further upside for equities. Later thisna pmi it week. Apart from earnings, that really is the key economic number we will be watching for this week. Adam, Bond Investors are basically quaking in their boots this week, right . If you are atter bear or bull, you have a lot to be nervous about this week. Sense it do, but in a does feel like it is a pivotal moment, doesnt it, with decisions on the future fed chair, maybe some more detail coming out on tax reform. Certainly from a position of u. S. Bonds and the treasury market as it pertains to the tenure, it seems like we have fallen into this new range is particularly important that traders have been watching, around the 2. 4 level. Lets take a look on the turf, 7997. I can show you how key this pivotal 2. 4 number has been. As you said, a lot going on this week, on top of the u. S. Tech support issues that we make it more detail on, we have the fed Rate Decision on wednesday, we have the crucial jobs data out of the u. S. On friday, and with trump deciding on his nominee for the fed chair, there is a lot to sway either way. Friday session, we had a big move in the 10 year, we had a seven or eight basis point move. We have seen that pare back as we have seen rumors around powell and his appointment as fed chair. But this could be exaggerated this week. Be it could be indent indeed. Thank you so much, our Global Markets editor with the week ahead. President trump took to twitter this weekend to attack Hillary Clinton and the democrats a day before the first charges in the rush investigation may be announced. He wrote, all of this russia talk right when the republicans are making their big push for tax cuts and perform, is this coincidental . Not. Lets talk about this, charges have been brought but are under court seal right now. We may be learning the details by monday. What do we know so far . Ros we think there could be possibly one or two people charged, and that information may come out as early as early monday morning. We dont know who the people are, we can only guess, there has been a lot of speculation, a lot of talk on the sunday talk shows. Really, both on the republican and democratic side, people are already starting to spin just what the charges might mean. For example, a key Health Republic key House Republicans that on television this morning we have to look and , are they 15yearold charges or 15dayold charges . Look for everybody to hunker. Own and take their positions for President Trump, he seemed pretty angry on twitter today and was looking to deflect attention back to Hillary Clinton, back to the democrats. His attorney thomas his white startedecial counsel putting out a statement saying that trumps tweets today do not have anything to do with the rush investigation and that the white house is still cooperating. A lot to unpack there. Said, we had just that typical Twitter Response on reports that these are coming down. Only expecting to hear more from the white house a president . Ros you know, a lot of people think that if the president was getting very good vice from his counsel good advice from his counsel, that he not say too much at this point, and the former u. S. Attorney for new york said an interesting thing on cnn this morning. Basically, he read the president his miranda rights. Anything he says on twitter could be used against him by the special counsel them a so maybe he should not say anything at all. We had that earlymorning flurry. I think if there are charges announced tomorrow, it is possible the white house wont say anything at all, they might just hold fire. What he saidght was interesting. Is this already clouding the other news we are expecting out of President Trump, which is not only his trip to asia, but the new fed chair . Ros its interesting, isnt it, that it was supposed to be the big reveal this week, that President Trump has been using, apprenticelike, that he will announce before he goes asia. It looks very much like it will be jay powell. But it is another distraction away from the fed announcement, the republican taxcut plan that we are expecting to be released in detail on wednesday. And of course, the trip to asia. It doesnt help that the president s agenda of have to say, it is kind of a constant series of distractions around the white house, and they do try to get things done, but really, criminal charges would be kind of a new development in terms of the Trump Administration. Thanks so much for enlightening us on these developments. Ross krasny in washington. Up next, or had asked Prime Minister with a poor opinion poll hot on the heels of losing his razor thin polymer tory parliamentary advantage. What this means now for the australian government. This is bloomberg. Betty good morning, im betty liu in new york. Haidi im haidi lun in sydney, you are watching daybreak australia. Phillies former deputy Prime Minister hit the campaign trail over the weekend to regain the government slender majority. The High Court Said his dual citizenship made him unable to sit in parliament. Lets look at this extraordinary case. Have correspondents following this remarkable story. It is extraordinary. Jones has a chance of getting back. Only two other candidates have declared, critically the former in p, tony windsor is not going to run. That would be the biggest threat. It is sort of a conservative seat, the labor and green does not perform well there. Is it time for a role change . Barnaby jones did not know he was a citizen of new zealand until it was inconveniently pointed out. At what point, he renounced his citizenship. He was born in australia, but his father was a new zealand citizen. He has been wandering around on the campaign trail, and he says some of his constituents the law is ridiculous. Thats listen to what he had to say. Generally the feeling i get is this, is that if you are born in australia, your australian. If you are born somewhere else, you have to make sure you are destroying. I think it is pretty simple. Paul the change would require a referendum, but the labour party is not particularly keen on doing this. They say, why would we have the public make politicians like easier . Andrew, does this pose a destabilizing threat to the current government . Is a andrew continuation of the instability weve had for several years. Policy stasis, the inability to put through significant reforms. This is another example of the government having trouble moving on with his agenda is of chronic instability. The argument is the government has policy paralysis, but the economy continues to run itself. Andrew we just had inflation data out in australia which shows extraordinarily weak underlying inflation, some of the lowest numbers since this data has been reported. Of low growth, low wages growth, and low inflation, and a lot of our policy instruments are currently looking like they are becoming more and more evident overtime. Had some suggestion that the next step could be potentially challenges to some of the laws and ministerial appointments that Barnaby Joyce and field might have lived in nash mightand fiona have had in cabinet. Could we see a challenge to quarantine laws, for example . Johnny depp, perhaps. [laughter] also already challenges to penalty decisions, we could already we could also see challenges to other decisions when they were sitting in their seats. I think Barnaby Joyces claim that this is ridiculous rule is it has uncertain drive of a National Party theake sure they have systems in place to be consistent with such a clearcut part of australias constitution. Haidi does this in peril Malcolm Turnbulls credibility, or is it just an interesting but . Insisting blip . Andrew it is a blip, but in a series of blips. The impression on the public is distraction on the core policy agenda, which means the government is struggling to get momentum on ning seems of jobs and growth. Betty just as someone observing from the outside in reading the news about this in australia, how does this happen and no one raises a red flag on this for so long . Andrew it is extraordinary. That wasomething discovered by a citizen in western australia, who found one member of parliament was actually, held new zealand citizenship, and that caused that person did excludes from parliament. That set off a chain reaction. We discovered seven trillion parliamentarians with seven parliamentarians with dual citizenship. Betty could this expand beyond right here right now with the deputy and others in parliament, and turnbulls government . Could this have further repercussion . Andrew it already has. We have lost two grand senators, both of the deputy leaders of the australian grand party are out of parliament. Both the leader and deputy the members of coalition, the National Party, out of parliament. It has been an extraordinary time in australian politics, we have lost the leaders of some of our biggest parties to this crisis. Paul weve also had a news poll out today which shows the government is continuing to be any powerless position. Winningthe labor party 5646, or 5446. It was because of poor news s. Lls the poll only likely to see more of people more upheaval . The average life of australian Prime Minister has been less than two years since 2007. That is an extraordinary turn of events. Before that, they were typically in for an average of more than seven years. We have had a significant increase in the instability of our politics. You would hope the liberal party is sort of not to repeat that. Haidi what does he need to do now . Andrew when you get back to the agenda of jobs and growth that he has identified. That means putting through stable, longterm reforms, dealing with many of the challenges australia has been holding up over the last several years, energy, budget, health, education. All of these things are more difficult to deal with if there are constant distractions like this constitutional crisis. Haidi thank you so much for joining us. Up of thet around stories you need to know to get you read going, in todays edition of daybreak, subscribers can find it on your terminal, is also available on your mobile. You can tweak your settings for you just get news on the things you care about. This is bloomberg. Betty as iselle, brent crude hitting into your high on friday in hopes that opec will extend production cuts into 2018. Thats ahead of the chinese oil majors reporting on monday. We had the bloomberg chart you need to know. Ramy lets take a look back on today, when u. S. Oil majors report. This is how they ended, exxon mobil up one third of 1 , chevron down 4 . With chevron, this was the lowest since september. With exxon, even though both Production Output for both companies were negative, they were missed estimates, it is still rising, it rose on friday because of the magnitude of the miss. Hop on to the terminal, this is for 64. Direct your attention to the righthand side of the screen, exxon, it came at 2. 7 9 million barrels, it was expected to come at 4 million, but that was not as bad a percentage as it was for chevron. Definitely seeing what both of would basically Oil Companies around the world are trying to do, conserve cash, layoff people, especially when we saw will fall from the 2014 hi to about 40. Were seeing a rebound to 60, when we see q4 numbers, we might see a rebound. Lets look ahead to later today, we have a chinese oil majors coming up, this is the fa function. This is for petrochina. You know how i was talking about the ups and downs of oil . Is very essential to petrochina. We can see that in the blue, emp falls as oil rises and falls. We saw back in 2014, 90, 2016, 40, were seeing a rebound here with expiration here falls as od falls. Exploration here. It is expected to rise a little more. Profit probably rose thanks to the 13 recovery in brent. We will see how that happens later today. Sinopec, 8860with. We saw the fall in brent and the rebound. Finally, quickly, let me take you on a quick read quick recap of where we stand in the last couple of years with the following and rising oil. The market cap on on exxon the biggest. Out of all of the five majors and he was in china, the white line is petrochina, and sinopec is inbred. Is in red. You can see where they were back in 2015, they were quite competitive with exxon. I will leave it at that right now, we will look at the earnings later today. Haidi absolutely, thank you so much for that. He other big news out of this irma ples Iphone X Iphone x. With the release just five days away, customers are putting in preorders. If they are doing it at a chain, they are being charged over 1000 for the base models, and 1249 for the nicer models. It is that this is due to the multiple purchasing options available website. Even if you are willing to pay next hundred dollars or more, you might still have to wait forsix weeks. Betty what is another hundred dollars when you are paying 1000 already . I think it sounds fishy. Were adding 100 just because we want to make it as convenient as possible for customers. They just want their iphone and they wanted early. I think its a way to add more margins there. These retailers like best buy, they are trying to come up with any way to get some margin. Haidi absolutely. When you think about it, this is a clever strategy for apple. Even if you have the reputation issues of having the delay. They still secured the money from the customer, even though they are not getting paid or shipping until it is available. It stops them from buying anything else in the meantime while they are waiting. Betty indeed. I did not get the iphone x, i will have to wait until probably next year. I missed the boat. Haidi [laughter] that is all for daybreak australia. Betty will be joined by ivanka yvonna. It is a huge day for investors. Betty we have the next fed, trump heading to asia, lots of economic numbers, including at the very end, the payrolls. Dont forget the fed policy meeting, as well. That will be on wednesday. No change expected, but you can count on many economists reading the tea leaves on what all this means for this coming the summers meeting. Haidi and lots more with the bank of japan. 7 00 a. M. In hong kong. We are live from bloombergs asia headquarters. Markets set to rise as better than expected u. S. Growth at street optimism in the global economy. A big day for earnings, chinas for big banks reporting, margins and assets improving. It is just after 7 00 p. M. In the york. President trump tweaking that he will announce his preference for the fed and coming days. Sources tell us he is leaning towards