Hang seng is flat. Taiwan is the leader on the board. We will talk about tsmc. They are gaining on the back of the apple news. We continue to watch dollar renminbi. 16 month high for the yen. We could be set for the best performance ever for the renminbi. Look at whats going on the rest of g10. Still seeing a strong yen. Pound is gaining for a third day at 129. The dollar falling to the twoweek low ahead of the fed decision. Take a look at bond yields ahead, not much movement. Its pretty quiet before the fed. Six the seven basis points for u. S. 10 year. Bondsl off in government the fall off in government bonds may have run its course. Saw the biggest cash injects and since 2018. Crude jumping on the back of that Better Chinese data we got yesterday. Back to our top story. A big win on paper, but not much in the real world. Says that Donald Trumps tariffs on chinese goods violated International Regulations, but its unlikely to make much of a material difference. Lets get more from our Senior International editor jodi schneider. What are the implications of the wtos warning ruling on u. S. Tariffs . Jodi it really does mean very little. Hence china a victory on paper, which china is happy to have, but the u. S. Has hobbled the wto by dismantling the pound that oversees the appeals process. Basically going to ignore this. We heard that from robert lighthizer, who is the u. S. Trade representative. He said that this shows that the wto provides no remedy in intellectual property disputes. Show, this report does chinas response that they hope that the american side will fully respect the rulings. There is little chance of that happening. Is there any chance of this impacting the phase one trade deal . Will it shift things between the u. S. And china . Interestingly, the u. S. Seems to want to continue with that phase one trade deal that had been negotiated late last year, and announced in january before these tensions really had started. The u. S. Is saying they still want to go ahead with that. Robert lighthizer said it would have no effect on the trade deal. And that in that deal the u. S. And china struck greater protection for intellectual Property Rights and removed impediments to American Companies in the Financial Services and agricultural sectors in china. The seem to want to continue to preserve that trade deal, despite this ruling and despite the other tensions that have increased between the two countries in recent months. When it comes to the oracletiktok story, we are waiting for more clarity from the trump administration. Nextcan we expect in the 2448 hours . Jodi it looks like we will get a decision from the u. S. National security panel. They were reviewing the bid. They met all yesterday and are expected to recommend to President Trump very soon whether to approve or reject the deal, according to people familiar with the matter who spoke to bloomberg. President trump himself has said that they are very close to a , sounding optimistic, and spoke highly of oracles chairman, larry ellison. Which is part of what makes people think this deal could go through, because oracle has a Good Relationship with the u. S. It looks like the chinese site is going to ok this deal. Its going to allow it. The proposal does not call for oracle to pay any kind of money into the treasury. Which is something President Trump said he wanted, which would have been unprecedented. But it is structured in a way. Hat could pass muster it does not call for oracle to buy the business outright, it would invest in a newly restructured global tiktok, with operations in the u. S. Jodi schneider, our Senior International editor. That security review in the u. S. Could be happening at any moment. We will wait for updates. As get you caught up with the first word news. U. S. Is exploring blocking all cotton from china in a move to penalize beijing over its treatment of the removal of muslims. 85 of the cotton production comes from here. They would expand on apparel, cotton and computer parts from prices in theer u. S. The uae and bahrain have found agreements towards normalizing ties with israel. The ceremony signals a intentionally historic shift in mideast politics, including an exchange of embassies, tourism, trade, health care and security. The eu and bahrain join egypt and jordan as the four countries in the middle east that now recognize israel. And the troubled economy has been given a boost with 3. 1 billion in new virus relief stimulus. Some restrictions that are being lifted, the money will be sent to help affected industries on virus prevention. Hong kong will extend dying in services at restaurants by two hours until midnight and reopen bars, swimming pools and theme parks on friday. Thailand has moved closer to welcoming back Foreign Tourists as a looks to revive its biggest industry following a fivemonth ban. These is have been approved for tourists planning to stay between 90 and 280 days, but they have to undergo a mandatory quarantine on arrival. Thailands economy is expected to contract by a. 5 this year. Day,l news, 20 for hours a and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Tom still ahead on Bloomberg Markets asia. Havens first transgender net member tells us about inclusion and diversity in the workplace. The minister also tells us about the risks of chinas 5g equipment and taiwans pandemic response. Miss thatnt want to conversation. Thats later this hour. Then guards chief asiapacific economist helps us look ahead to the fed policy decision, and why she expects rates to stay on hold until the end of 2023. This is bloomberg. Tom welcome back. Here with the latest business flash, the u. K. Government is considering positions for the proposed nvidia takeover. The countrys most valuable tech company. Sources say officials are focused on maintaining arms 3000 employees in the u. K. , and keeping the companys headquarters in cambridge. Similar made commitments after it bought the Semiconductor Giant in 2016 to 32 billion. s director says investors are focusing too much on the past and not enough on the future in Hydrogen Fuel. Shares of nikola have been on a roller coaster this year, based on its prospects as a budding auto company. They were in early investor and he regrets pushing nikola and its founder to go public before it was ready. Eto is delivery giants looking to raise as much as 1. 5 billion u. S. Dollars in the hong kong second listing. They are selling 45 million shares, with the maximum price set at around 268 hong kong dollars a piece. Which represents a 10 premium to tuesdays Closing Price in the u. S. The share sales come hot on the and jd. Com,ng china among other Chinese Companies, to hold secondary listings in hong kong. Move nearlyit will 300 Youtube Channels in july as part of an Ongoing Investigation into coordinated influence operations linked to china. The company says the channels mostly uploaded spam content in chinese about music, entertainment and lifestyle. The small suspect uploaded content in chinese about covid19 and Current Events in hong kong. Chair jay powell will be the center of attention when the Federal Reserve wraps up its twoday meeting tomorrow. The market is expecting no change in rates. They will be closely watching for the new policy framework. Fromng us for an analysis San Francisco is the managing director and asia chief pacific director. You are fed could do, saying this could be a nonevent. The what changes might the fed make . Ian there is expectation this could be opportunity for fed to put action under the new policy framework. Some people are expecting they may refine their guidance to the inflation outcome base, but recent federal Communications Says there is no urgency to do things like that. So i would say, at this moment its really more of a wait and see mode. But what we probably should have watched more is whats the message in the statement, and also the updated statement of economic projection. That is where they cannot extend their outlook from 2023. Will show there will be no hike in 2023, that could help with the Forward Guidance a little bit. Even so, i dont think that will affect the markets that much. Because the markets are very dovish. The market is not expecting any height for 2025. Yvonne the fed wants to create more inflation, quian wang. What are the chances, how are they intending to do so, what can they communicate to make this seem like more than just Wishful Thinking . Quian we look at the new Monetary Policy framework and they changed their goal. It was at the average 2 . There is a difference between Central Banks goal, their action. I think the new policy framework issue withess the the goal. They did not tell us what they were going to do and what additional two they were going to have. At this moment we still face the same old issue. That is the central bank toolkit is very limited. I think that would be a key challenge for the fed because, essentially its all about credibility. Its all about expectation. That the fed is trying to change peoples expectations, but there is still a lot of doubt that, hey, that fed has not explained that inflation has been under this percentage for the last decade. Why would the market believe they are able to bring the inflation over 2 . I think they have to do something extra 2 . I think they have to do something extra. There could be money for policy, working with the fiscal policy. In this statement or in the chairsonference, the fed property was up again. In addition to that, mentally, in japan they tell us you cannot rely on macro policy. Structural reform is very important to push out the productivity growth. So that money will be more powerful. You bring us to our next question on japan. In terms of the potential new premier it will be super focused. We hear on the structural reforms, particularly around thinking and telecoms. Are those the right priorities . Quian there are many ways that japan can work on i think digitalization of the japanese economy could be the right direction. I would say that could help to andt up the productivity efficiency of japans private sector, especially in the service sector. That could be something. Banksidating the regional , looking up the competitiveness of small media enterprises. Those could be in the right direction. But ultimately i think, forge a japan, what we need to be given is the outlook. The sharp decline in the working population. If you have no people there is no demand in the future. Ultimately we still need a lot of scale in the policy with japan. There has always seemed pretty unlikely. Does that change . Quian they will probably take gradual steps towards that direction. If you look at japan, to a certain extent, japan has reached their limit to easing. You probably dont have that much option for bank of japan. Either you say we officially get and this best monetization coordination between fiscal and Monetary Policy, but i think that is something they could do down the road to provide loan and risk capital for japanese corporates, especially small and medium enterprises. Is on theoption reform site. Otherwise i dont see hope. That from therom private sector and investment, its not because of credibility. Its not because of the interest high, but because people have no confidence about the Economic Growth outlook. Feeltil you make people more confident, there is a future for the economy, otherwise you will end up with demand. That will result in inflation for a prolonged period. Tom wonderful insights. Quian wang, thank you for joining us. Coming up, its been a bad year os hedge fund. It racks up a big loss. We hear from the man himself in our exclusive interview. This is bloomberg. Tom welcome back. The Worlds Largest hedge fund is having a very bad year amid the pandemic and geopolitical tensions. Os has run of hefty losses with a 19 fall in august. Earlier he told bloomberg he is concerned with the ongoing brinksmanship between the u. S. And china. Y there are five kinds of four of thosee in wars and we could be in a fit. There is a trade war, theres a technology war, theres a geopolitical war, there is a beginning of a capital war, and then theres the question of a military war. Having watched these things over a period of time and having close contact with the situation, we dont internationally have a so that theretem, is a testing of each others powers. Which is done in public. And when leaders watch one leader win and another leader back off on that brinksmanship testing, that is a highstakes, dangerous game. Issue, and it will be a big issue for the rest of our lives. Graham allison wrote a wonderful book. Eric we have talked about it before. I would be remiss not to ask you about your firm, bridgewater. No firm no secret to many people it has had a challenging year. Are you confident that the firm can put all of this stuff passed it . Whether its external and internal . And most importantly to your clients return . Ray i dont have a problem with my clients because we have Something Like one hundred 40 billion of clients that have faith in us, otherwise they would not have us the money. We were the Largest Hedge Fund for a particular region reason. It were a lot of people not knowledge knowledgeable about that. Our weather portfolio is up a couple of percent and the pure out for fun is down about 15 . Years, wehe last 20 have never had any significant downturn. Nothing. We knew that there will come a day. We missed the pandemic and going down. Thats the reality. I want to say that there is a problem sometimes in the media weve had a particular problem with one correspondent in the wall street journal, rob copeland. If you look at the particulars on the case that we went to in terms of misrepresenting what the situation is, thats an issue. That happened. Settle, we are transparent, these things come about. I am not worried about any of that. We are just operating in the same way we have always operated. We have, so far a that year so far, a bad year. Yvonne that was the bridgewater cofound to founder and cocio ray dalio. We saw this fund manager survey for september. The consensus is paranoia tech. It seems like unanimously they aresaying u. S. Tech stocks the worlds most crowded trades, they are decreasing now occasion to big tech in favor of cyclical stocks. Interestingly enough, no rotation from the u. S. To em. Pe, u. K. Or the energy are under loved as well. The cyclical move is moving at a slow pace according to the survey. They have an indication in terms of that crowded trade on technology there. Lets check in on some of the movers. We are looking at the chip space on the back of the apple announcement. Softbank is still in focus. Plenty more ahead. This is bloomberg. Give you my world how can i, when you wont take it from me you can go your own way go your own way your wireless. Your rules. Only with xfinity mobile. It is 10 29 a. M. In hong kong and shanghai. The Karina Mitchell with first word headlines. The wto says the u. S. Violated International Rules when imposed tariffs on chinese goods in 2018. While the ruling bolsters beijings claims President Trumps trade war skirted rules, veto it bycan lodging an appeal in the next 60 days. The ruling relates to tariffs 234 billion worthu of chinese imports. A committee has reviewed the oracle tiktok deal and made no recommendations. Times said financial oracle would become a minority holder in the Global Business with bytedance retain the majority. Other u. S. Investors made have stakes including walmart. The federal trade commission is said to be preparing a possible antitrust lawsuit against facebook that it could file by the end of the year. Source says the ftc has spent a year investigating concerns that facebook has been using his powerful market position to harm competition. The case could be filed by the end of the year, although no final decisions has been made. Researchers monitoring pfizers experimental covid19 vaccine trial have reported no safety issues after more than 12,000 people received their second of two doses. 44,000al is expanding to subjects. Teenagers and people with certain medical conditions including hiv will be allowed to participate. Expects to get inconclusive data on the vaccine by the end of october. Global news 24 hours a day on air and on quicktake by bloomberg powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Take a look at markets right now. It is pretty much study as she goes ahead of the fed meeting. Waiting for any kind of clues from jay powell later on today. We are pretty much drifting higher here. Nasdaq futures at least are turning positive now. Take a look at what we are seeing in terms of movers. Chinese airlines go from strength to strength. Citigroup once again saying these airlines can add to this rally. They are looking ahead to the National Holiday in october after capacity improvement last months. They said that they are looking at some of these China Tourism related stocks that could get a boost from that golden week as well. Take a look in terms of the renminbi. We reached the 2020 highs. Now it looks like we are on course for the best quarter on record. , 4 gain fornbi the september quarter. You got a wonder house how much strength policymakers are willing to tolerate. That is why they have been quiet. You see why. Because of not just what it is against the dollar. You have to look at it against the basket. We have not seen as much appreciations against the currencies in that basket. Policymakercup the is more comfortable with where it is right now. Tom perhaps the lack of concern from the pboc shifting focus to japan now and japan, the country is getting ready for a new era under suga. We asked our guess how they expect the next Prime Minister could impact the economy if he does become Prime Minister expected. Here is what they had to say. He is a big proponent of deke regulation. He is willing to test new ideas, and that could be a potential positive for japans productivity. Muchople underestimate how suga is likely to push on the third arrow of structural reforms. Business investment expenditure side will be the sort of continued strength in japan over the next couple years. Actually to being true value. So i am very bullish. The rest of the japanese year. A within the much political establishment. Unless you find some way to give himself a different angle on these reform efforts. Any sense of a slightly less invention inflationary policy Going Forward is likely to reinforce upward pressure on dollaryen. I think we are heading towards 100. I wish adjust the overall trajectory for dollaryen is to the downside. That is kind of outside the politics of the expectations for a continuation of abenomics. We need to understand why Warren Buffett put 6 billion to work in this economy. Tom japan will officially install suga wednesday with a parliamentary vote expected to be a formality. Lets get the latest from parliament in tokyo. What happens today the . Is set to win a parliamentary vote at a special session being held right now in the building behind me. That would officially make him the next Prime Minister of japan. s ruling party using his majority. Appointing a new pm will happen early afternoon. Is new cabinet led by suga expected to be announced at 3 30 local time. Followed by a ceremony and the first Cabinet Meeting held this evening. Yvonne tell us more about the new cabinet. What does the lineup look like . Does it suggest to you that perhaps they are willing to embark on some reforms . Has said he wants to align with that thinking regardless of faction. Some of the key changes including the Health Minister who will succeed suga as chief cabinet secretary. The defense minister will now be an ag reform minister. And taking over for him will be should you always younger brother. Desk singeing abe sugar brother. The finance minister are among those who will keep their jobs. And carry out policies focusing pandemic. G this had t only two female lawmakers are set to be appointed to key positions by suga. The Justice Minister yoko and the olympics chief will be appointed in their roles. Yvonne and we have been talking about some chance of a snap election. With an election hanging over, suga, i wonder can the new Prime Minister do much to keep voter and Market Participants happy while trying to re inflate the economy . The general election must be called by october 2021. At the latest. Some lawmakers have them sit at one, including the deputy Prime Minister. He said in early dissolution of parliament should be consider if the Tokyo Olympic games are helping 2020 want he has stressed the timing of when to dissolve the super important. In 2008, he wanted to dissolve but he was noty able to because of the Global Financial crisis. Suga insist that preventing the spread of the virus should take priority over any decision to call a snap election. Yvonne joining us from tokyo. Of course, waiting for that announcement today on suga. Coming up next, our interview with one of the world only transgender ministers. We discussed nonbinary rights and Digital Strategy next. This is bloomberg. Welcome back to Marjorie Chung is taiwans youngest and its first transgender cabinet minister. In this edition of bloomberg equality chief north asia correspondent Stephen Engle spoke with her and discussed nonbinary rights. She is outspoken about the risks of mainland 5g equipments and thailands networks and was instrumental in the government Digital Strategy to handle the pandemic. A couple of years ago, the main answer would be that we have not passed Marriage Equality law but now that we have, past Marriage Equality, the attention is now on nonbinary or the intersect and queer rights. If you arrive to taiwan under the quarantine decoration, there is male and female and nonbinary choices. Our entire changed Household Registration System to reflect that reality. How does that nonbinary thinking on your part, how does that allow you to survive in what is a very polarized political environment in taiwan and anywhere in the world . As i filed my hr form when becoming a digital minister, i see two boxes, one asking about my gender, which i filled in e, and then also asked my Party Affiliation and i also filled in none. In my mind there is no half of the world that is different from me. Having gone through ywo pubertys, itwo can better empathize. Equality, but do other see you as equal and how does your orientation as a trans ffect what may be some discrimination . Do you face discrimination still . Yearsl, back when i was 8 ago, 30 years ago, of course there was certain discrimination. The society had not yet embraced gender mainstreaming but since the past 12 years or so, the entire government has gone to gender mainstreaming so that for each and every of our major budget regulations and laws in assessment is done so that professional and societal leaders lead and coach are civilservice workforce. Toward gender mainstreaming. I am very proud to say there is no discrimination. What do you think needs to be done to bridge the gap between men and women in taiwan . O, no we have a gender Impact Assessment port. And for the past 12 years each and every ever major policies has been done to make sure that there is equal pay an equal opportunity. We do see like an a homemakers role people who are above 40 years old and so on, primarily women, that even that is changing for the twentysomethings and thirtysomethings. We are on the right road and the recent epidemic that placed teleworking and telehealth and telemedicine on the front of everybodys mind also helped equalize the playing field. How have your efforts and open source and accountability and the like helped taiwan really whether the covid19 pandemic better than many, many countries around the world . Well, there is a saying that i tweeted in democratic taiwan, ministers trust you. Basically, instead of asking citizens to trust government, we the Government Trust the citizens with open data. In taiwan, in every pharmacy you can get your National Health insurance card which covers 99. 9 of citizens and residents in every two weeks you can collect for an adult and child that instead of trusting the numbers of the governments publication, people trust each other because they can check on their phone that the availability decreased by nine or 10 and the person queuing after you can see it reflected in real on their phone using more than 100 different chatbots and things like that. This accountability and instead of saying the government knows the best and can collect statistics every day and so on, we trust the people who then take this trust to trust each other in the pharmacies. Nt was in there a crowdsourcing hack to track social media input the availability of masks and where their availability was using google maps . That was done among a months declared awho pandemic. Taiwan was way ahead of the curve. The crowd sourced mask was indeedy map launched in january, which is way before pretty much everybody else. In early february, i looked at his work and talk to our premier a civilthis person from society does a better job of prevent presenting the mask rationing policy than we would ever do. Maybe we do a reverse procurement and make sure we fulfill whatever they need, that he needs. After that, many other people across taiwan may different versions of the app so people with color blindness and hearing difficulties all can use the kind of inclusive access so they can access information. The civillso show society if they have a better analysis on the distribution, inequality, and so on, they can 22st do an inquiry on the 19 toll free number and the next day we change our algorithm. Are youre afraid the world is becoming too isolated, there andoo much bunker entelechy not enough sharing of information and a bifurcation of the tech world between china and the United States . Even taiwan recently has banned the video streaming sites like e tv frombaidu w tencent. Is that bunkering going to stifle investment in taiwan . I do not think so because back in 2014 when we occupied the parliament for three weeks in the Sunflower Movement there was already substantial deliberation with half a Million People and many more online on this very topic. Conductivityour 4g was still being built and we deliberated whether there are private sector Market Players in useprc regime that we can for 4g. The consensus both in the street and the National Communications system was no because there was no private Sector Companies because at any given time there are Party Branches can swap leadership. In those fenders and therefore the proposal concept ownership of reassessing each upgrade will be much higher than this 1 and so, we built entire 4g system and now we are talking to my 5g connection with no prc component. Taiwan is doing just fine in the past six year with no prc component in our communication structure. And that was taiwan stacia minister. Speaking with our chief north asia correspondent Stephen Engle. We are getting these live coming from chinas Taiwan Affairs office. A spokesperson in this briefing and talking more about this straits form that will be happening this weekend and shaman. An annual meeting between the two to talk about unification with china. There has been a lot of controversy surrounding all this but acyclic the Spokesperson Party isat the jpp using it as an excuse for the u. S. Side in the party is obstructing people from joining straits form this weekend. We are hearing some of the more beijing friendly allies are not attending this. Have come out and said clearly for the First Time Since 2009 we are not going to be attending this straits form on the mainland because they said there were some coverage from cctv, the state media, that accuse them of coming to the form to beg for peace with the mainland and that was basically too much for them to stomach. Even they are not going to be at the form. That is a party that has traditionally had ties with the mainland. Of course, in terms of taiwan and the u. S. , and the u. S. Is trying to push for a trade deal with the island. And you have the Health Secretary visiting in august. And in terms of military activity youre seeing a tick up activity andla airspace claimed by taiwan. Tensions across the board there. Yvonne and certainly taiwan being put in the middle of the u. S. China debate. Coming up we talk about apple doubling down on a pivot toward services as it debuts subscription bundles. Details of the new apple watches and ipads. This is bloomberg. Apple updated the ipad and unveil a new apple watch during its annual product. But apples major revealed during the event was not a product. But rather a much awaited subscription bundles for services. Lets get details with our Global Business editor. Joining us with the latest. Tell us the timing of this move. Apple wanted to have its tv establish its streaming service before it can offer a bundle. In the works and on its way to success. That is one of the pillars of vhis bundle will be that t Service Driving users to subscribe as a way to save money. Massiveeady have a interface, both of their hardware of their software offerings. And this is a way to combine those and try to monetize some more and get users locked into an ecosystem. Apple has been very good at this in the past and this is just a natural progression of that. Productsgether as its start to take the leap. There is also a bit of a respite coming in the fall. They will be rolling out the new iphone 12th that is expected to be good big announcement. Theye timing of this, wanted to get it in place before the new phone comes out. Tom right. What are the expectations around revenue from these bundled services . Analyst we have got one [no audio] yvonne it looks like we may have tom we seem to have technical issues with our Global Business editor. Just going through what we saw from apple unveiling this bundle of services, that is a new direction for the company in terms of hardware. It was the upgrade to the ipad that was really in focus. It is a story that we will continue to focus on and will have an impact on some of those Taiwanese Semiconductor chipmakers. Which has risen today. A quick check of the latest business flash headlines. Jpmorgan sent some of its workers home after a trader tested positive for coronavirus. News of the infection in the madison avenue building was communicated to employees days after the bank told senior traders to be back in the office by september 21. Onie dimon also weighing in that debate, saying prolonged work from home will cause economic and social damage. Snowflake is said to have priced its ipo at 120 a share, above the range. The californiabased Company Plans to sell 28 million shares billionet to raise 3. 3 dollars. Snowflake is a rare challenger to amazon as a provider of Cloud Storage and services. Shares are set to begin trading wednesday in new york under the symbol sno. Auto home, a chinese cars side willar sales website begin a second listing in hong kong that could raise 1 billion. The new york listed company is said to be targeting next year for the listing. At 11me is valued billion. At thatported revenue top estimates as the pandemic trove robust demand for the Software Makers cloudbased services. To 3. 2 billion for the third quarter. Adobe has been benefiting from products that help workers do their jobs remotely. Shares were up in extended trading. They have risen 50 this year. All right, take a look at markets right now. Pretty much slightly higher here leading up to the fed meeting, of course. Pretty quiet until we hear some kind of details from jay powell on Forward Guidance. What they will do with the average inflation targeting framework now. And so, youre seeing the likes of the asiapacific up. 4 . Nasdaq futures are in the green. Pretty much flat. Nifty futures in singapore pointing to a lower opening in india. Thailand markets also coming up in the next hour. Malaysia is closed today. Lets look more on the currencies. Therenminbi is the talk of town. The strongest we have seen for the currencies since may of 2019. 677. 15 for your offshore renminbi. We could be seeing further appreciation of the renminbi. That is likely to anchor a lot of resilience in the Asia Ex Japan currencies. They are looking at the korean won, seeing dollar and malaysian ringgit. And of course we are looking up bonds and commodities up to the fed. Looking at the chinese 10year bound rout. That seems to have stabilized. Around 310. And we are continuing to watch crude as well, up 1. 2 . And plenty more in the next hour of Bloomberg Markets asia. We are counting down, of course, to the fed decision and any commentary from chairman jay powell. This is bloomberg. It is almost 11 a. M. In singapore in in hong kong. Welcome to Bloomberg Markets asia. Here are the top stories bit President Trump says he is close to determine whether to approve or both tiktok bid. Juliet the u. S. Remains defiant despite the wto ruling against his trade war with china. The representative calling the organization inadequate. Rishaad and markets on fed watch. Investors are waiting for a decision the central bank support for the economic recovery. We certainly are on fed watch. Stocks tracking higher for a fifth session. Their longest streak since june. Seeing a gain of 1. 5 with. 5 with Semiconductor Stocks leading the gains. And the hang seng fairly flat although tencent looking pretty good today. Tencent remains attractive to her. We are consuming to watch is strengthen the on and offshore yuan. Since may soest the reflationary trade in charge it seems again. Tohaad getting straight what is happening in the bank of time market. This is where the said is, up fairly pretty much unchanged. Thailands economy in focus. It could contract for a second Straight Year in 2021. As the tourism reopening continues. Justso have the process prospects of the Indian Trading day starting negative according to the nifty futures contract down. G in singapore,. 3 banking stocks are going to be important causing the indices to end with losses monday. Certainly at the moment looking at those industry groups. Moving along and have a look at a big win on paper but not much in the real world. Donald ruling that trumps tariffs on chinese good violated International Regulations but it is unlikely to make much of a difference. Lets get to our Senior Editor. Walk us through this really because it is a bit of a paper tiger as such. Audio] rishaad we are having a few problems getting a hold of derek. We will try to get back to him. Meanwhile, lets try and make a connection with Derek Wallbank. Lets get to Karina Mitchell in new york. With the first word news. Good morning to you. Have signedbahrain landmarks agreements with israel. The signing ceremony on the white house line signals an historic shift in mideast policy including an exchange of embassies to resume trade and health care and security. And burying join egypt and jordan as for countries in the middle east that recognize israel. Meanwhile, the u. S. As exploring blocking all from the shenzhen province in a move to penalize beijing over his treatment of uighur loselose. 85 of their cotton production comes from the area. Finding some cotton and computer parts from china and could lead to higher prices for cotton related goods in the u. S. And hong kongs troubled economy has been given a boost with 3. 1 billion in new virus release stimulus. Some restrictions are being lifted. Money will be spent to help affected injuries on fires prevention and rent concessions. Hong kong will extended dine in services at restaurants by two hours to midnight and reopen bars and swimming pools and theme parks starting friday. Thailand has moved a step closer to welcoming back tourists as it looks to revise its biggest industry. These is a benefit for tourist planning to stay between 90 and 280 days but they will still need to undergo a 14 day quarantine on arrival. Thailands economy is expected to contract by 8. 5 this year. Global news 24 hours a day on air and on quicktake by bloomberg powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Thanks. Getting back to Derek Wallbank. We have the Senior Editor with us. Rulinglook at this wto which the first looks damaging for donald trump and his sanctions, or shall i say his tariffs on chinese goods, but actually it is a bit of a paper tiger. It completely is. That is a great way to describe it. It is a ruling on paper that goes against the u. S. Interest that says the tariffs, that donald trump launched two years ago were not properly justified. The problem is is that the u. S. Has the right to appeal, and the appellate body is currently neutered. Many might say at the u. S. s the house. Lead tonot going to anything. If anything, actually, on the american side, it reinforces the does not wantwto to try and deal with chinas excesses in the world of trade. Trying to have rules about Market Access or things about Foreign Technology hassfers, things the u. S. Been complaining about for some time, the american side has said forceful he at they laid all of backout in the wto coming as they did does to show that the agency itself is not equipped for the moment. If anything it hardens the positions of the players involved. And does not necessarily change the outcome except for letting people talk about their talking points even more. We are also expecting news on tiktok and the next few hours. What are we expecting here . Thats right. It was meant to meet today. We are told that a meeting happen. But there was not necessarily a recommendation. That winds up essentially being a donald trump stamp of approval or not. So that is really what we are waiting for here, we are waiting for President Trump to say whether or not the oracle tiktok deal meets with his approval. Now, if you are sort of watching signs here for indications, then you are feeling pretty warm about the idea of this getting through. Donald trump said earlier today that, you know, some very nice words about oracle, about larry ellison. In particular. And so, the expectation, i think, on the market side is that this is going to get blessed on the american side, because right now both the president and every impersonates his administration who has commented on this has said very nice things about this happening. Senior editor Derek Wallbank in singapore. This hour on Bloomberg Markets asia, inside indias 6. 6 billion plan to attract manufacturing firms as businesses rethink their china exposure. We speak with an in India Electronics association chairman. Next, morningstars showing her outlook on asian stocks and why she sees enough liquidity to keep supporting equities at least in the near term. This is bloomberg. Juliette investors keenly awaiting the outcome of the fed meeting to gauge the extent of central bank support for the economic recovery. Investors looking for catalysts after the impressive recovery in stocks started in the first half of september. Our next guest says market liquidity will support interest in equities for the near term. Lets bring in lorraine tan, morningstar. On the line from singapore. Lorraine, we know this liquidity from the fed has underpinned the equity rally so far this year. That brings us to the question of the day. Potencycentralbank enough to continue to support equities into the latter half of 2020 . I tend to think so. Because, even though there are certain segments of the market that are relatively expensive, we have also got other segments that are relatively attractive. So the huge gap between certain sectors like energy and materials for industrials or financials that are lagging the tech and health care names of valuation. But having said this, with Interest Rates that are essentially near zero in some investors arehink still going to be flocking to equities for the time being. Juliette what about the threat thehe tech rally as we see lawsuit against facebook. You get the likes of bigname stars saying that they may take a pause from the key big names from Facebook Like instagram. But we are still seeing so much money going into tech or does that play continue . I suspect it could continue. We have seen a little bit of range trading. I wouldnt say that we probably would avoid some of the highflying tech names because mainly because we think they are overvalued. Having said that, there are probably some names that we think are good alternatives. I mean, we continue to still still like tod to tencent for example in asia, because of the fact that we think it has got elements in its business, different elements in his business that will propel it midteenst Revenue Growth for the next several years. Any pullback on tencent forlly talking of example, whatever that comes, there is confidence. It gives us a chance to pickup a solid name like tencent. The other interesting aspect of tencent is following in the likes of alibaba and bytedance and making singapore its asian hub. Is this something that you see continue as we continue to see the tensions occur between the u. S. And china . There are other reasons for picking a hot outside of china. Theynk this marks always have a place for strategically for more than just the past years. So i think this reflects the intention of some of these companies to actually expand beyond china. And into Southeast Asia in particular. I think that is more the reason to being in singapore and have a second hub in that sense. We see u. S. Entities also doing the same where they will have outside spokes to their business, i guess you could say. How to the bristles between beijing and Washington Play into your overall strategy . Well, in the meantime, it really is, creates volatility from here and there. As we try to look into where we nk things are going to there is obviously some of the rhetoric heightened at the moment because we have got upcoming election in the states. But even going through that, there are some issues that will stay. Regardless of who becomes president. And so, looking into where we try to see, which elements are ,ore likely to be impacted building and scenarios like tencent. If elements of other aspects of the business are impacted, like for example, what is the necessary, you know, offset to our fair value in that sense . In the case of tencent we see it as being relatively limited. In the worstcase 6 of their revenue. So we are fairly comfortable in that case with the measures. Other areas are still very, very difficult to access assess accurately. We have to build that into some of the risk in best case scenarios. Rishaad you look at things cyclically at the moment. I think your mantra is to look undervaluedy midcycle. I imagine you can concoct a cycle with what is going on globally. If you can, tell me about what stocks you are looking at . You are you looking for those undervalued companies . Tell us some of the names are looking at. I guess an easy example i can take if you look at banks. Banks are going to go through difficult times the moment. So we could say it is a cyclical issue. Happen areas, seeing valuations of probably at the lower end of the cyclical level at this point in time. So, i think that banks are an example. Chinese, japanese banks or other banks in the region are trading at 0. 3 pricetobook. That implies a low return on equity. We know that even at this stage in what is going on, banks will be able to achieve in the case of chinese banks about 8 rre in japanese bank, maybe 7 roe. It does not justify the pricetobook. Think a lot of the bad news is reflected in that sense, especially for some of the larger and better positioned banks. And that is the reason thought the reason why we like china thetruction bank and financial group. I will say, especially in the case of the chinese economy which probably will recover faster than the rest of the it is a goodk that opportunity to look at some of the chinese banks. Juliette is that also a consumption led story . Bigticket items as well, particularly as we are still waiting for the major mover and that is once we see, we start to see more Consumer Confidence come back . Thats right. I think definitely our best case is a vaccine to be available by the middle of 2021. , gettinghe unwinding the vaccines out to everybody so that it allows life to return to some normalcy will probably take another year after that. That, that is going to help the hospitality industry, the Tourism Industry and that is where i think we are going to get those countries biggere more, you know, slices of their gdp, their economy from these areas are going to see that boost. And so, i think thats true. That is where we are still expecting that to come through in the next 1218 months. To gete always great your insight. Thank you for joining us. Lorraine tan from singapore. Bill gates said the u. S. Fda and cdc have lost credibility. As the world battles the covid19 pandemic. Her more about that and why is worried politics is hindering the development of a vaccine. This is bloomberg. Rishaad you are back with Bloomberg Markets. President trump has made no secret of his desire to see a covid19 vaccine soon. Ideally before the november election. Action at schuurs spoke to bill and Melinda Gates foundation cochair bill gates and asked whether he is worried about the race for the vaccine has been hijacked by politics. That would be a tragedy and any suggestion that, you know, a politician, you know, helped create the vaccine or faster because of the politician is a very dangerous thing. We saw with the completely bungled plasma statements that when you start pressuring people to say optimistic things they go completely off the rails. And so, the fda lost a lot of credibility there. Thank goodness the companies are saying that the fdas openmindedness to be asked for emergency use devices before there is efficacy data they are not going to seek that shortcut. Do you still trust the fda . I think in the fda there is a lot of professionals. The cdcally, just like was viewed as the best in the world, the fda had that same reputation as a topnotch regulator. But, you know, there has been some cracks with some of the things they have said at the commissioner level. Hopefully the staff is not pulled in that direction. Youo, it sounds to me like are harboring perhaps some reservations. What about the cdc . You made reference to the reputational damage done to the cdc. Can you take what the cdc says to the bank any longer . Largely being written out of the picture because you have people at the white house who are not epidemiologists, you know, saying what a great job they have done. A set of is no longer experts. The cdc actually did make some mistakes, the way they thought about testing, the way they had not figured out to bring the commercial providers in. There are number of countries like south korea who got that testing going very well. And we are very clear that if the result takes more than 24 hours, you dont reimburse for that. It has got to be a time the result. One of the big risks in politicization is public confidence. Of americans will refuse to get vaccinated and a majority believe a vaccine is being rushed. Has the damage already been done . I hope not. You know, these companies are very professional. Benefit to the vaccine here are very dramatic. After all, not just on the health front but the economic front, the education front, we need to bring this pandemic to a close. And thank goodness that we have this private sector expertise that we want to shape into a Global Public good that gives to everybody on the planet. Will not be people in the first wave to take the vaccine. They may take away waitandsee attitude but i do think over time we will be able to get to the majority of the population to get to a level where the transmission slows down very dramatically. Americans, and for that matter, bill, citizens of the world have been put in this awkward position where they may find themselves more trusting of the privatear from sector, from the Companies Developing these vaccines, as opposed to what they hear from this government or perhaps other governments. Timeline,accelerated which these vaccines are being developed, how confident are you that they will be not just effective but safe as well . Well, these vaccines are going through this stage three trial, where you look at the efficacy and you look at all the medical records to see if there is any adverse events. The companies have the reputations, many of these companies are doing this on an opera from but they said notforprofit basis. There is not a big profit upside to many of the companies, including the ones that will have the most scalable lowcost vaccines, which is 4 of the leading Six Companies here. So, you know, vaccines are complex. There is often rare side effects even for the vaccines that have to matter and if it. We are all going to be looking a the data, but, you know, safe ask seen think is very likely to come out of this r d work. That was microsoft cofounder bill gates speaking with erik schatzker. A quick check of the latest business flash headlines. Apples new subscription bundles and Online Fitness Services were the stars of its latest launch. Apple one will combine Services Including music and tv plus and icloud at a cheaper bundle price. The work out is set to compete with peloton. Apples annual fall products blitz included new watches and an upgraded ipad air. The company is expected to unveil its new 5g iphone later this year. Nese delivery giant expresses looking to raise as much as 1. 5 billion and is hong kong second listing. It is selling 45 million shares with the maximum price set of 268 hong kong which represent a 10 premium to the Closing Price in the u. S. The share sales, on the heels of young china and jd. Com, a among other Chinese Companies to hold secondary listings in hong kong. Rishaad checking in on chinese markets. As we head towards the lunchtime break there. Pretty much down. There we go. The moment,. 2 . Shanghai composite tw. 2 . Strengthen the yuan by the most in five months. 11 30 a. M. Here in singapore. Where in the middle of the trading day. Heard the , and weve apple launch overnight, apple and the government of singapore have partnered on a twoyear Health Initiative built around tracking and rewarding User Behavior through its apple watch gadget and iphone app. Singapore residents will be able to earn as much as 380 singapore dollars, thats 200 80 u. S. In rewards and vouchers by completing those goals on their apple watch. Lets get the first word headlines. Rishaad no safety issues after more than 12,000 people received their second two doses of the trial, teenagers and people with certain medical conditions like hiv will also be allowed to participate and they expect conclusive data on the vaccine by the end of october. The wall street journal is reporting the committee on Foreign Investment in the u. S. Has reviewed the oracletiktok deal but made no immediate recommendations. According to the financial times, oracle would become a minority holder. Others may be offered stakes, potentially including walmart. The ftc is said to be preparing a possible antitrust lawsuit against facebook, and could file by years in. A source is the ftc has spent more than a year investigating concerns facebook has been using its powerful Market Positioning norma competition. The case could be filed by the end of the year, although no final decision has been made. Meanwhile, Kim Kardashian west says she will be freezing her facebook and Instagram Account based on the spread of hate and misinformation. At holdingis aimed social media content accountable. She has 188 million followers. Just a few short of your followers, rish. , thesci asiapacific index longest winning streak weve seen after regional stocks peaked in june. The nikkei coming out of its lunch break, up by about. 2 . The taiex is looking pretty and the msci holding at its strongest level since it launched in 1995. Watching movement in material , the asx 200tralia up by around 1 . Its all about this movement in the chinese currency, the on and offshore at their highest level since mate last year. Trade in charge once again, both on and offshore. Rishaad the central bank wraps up its two day meeting tomorrow. Herelobal economics with the preview, kathleen hays. Surely theres not going to be that much change their on guidance from the Federal Reserve. Kathleen unless theres a change in the economy, but i think people are wondering if for example when the fed talks about how long its going to be until they would even start thinking about thinking of raising rates. It could be a slightly differently worded link to inflation and how is that going to play out. Speaking of inflation and what the economy is doing, theres widespread agreement that the fed is going to update its assessment of the u. S. Economy and one of the things it will show, basically overall a and payrollsomy, across the top getting better. Employment is down 8. 4 . The Federal Reserve in june was looking for 9. 3 at the end of the year, so already they will have to acknowledge in their forecast that unemployment is weak ashe gdp not as they thought and inflation probably little higher. Will it make any difference in their expectations . Its probably too early right now, but maybe it will filter into some of the discussion. Whats interesting is, we andady knew 2020, 2021, 2022, you see no chance of a rate hike except in 2022, theres two fed officials who think they will be ready to go for rate hikes. Thats the longterm view. We can put that to one side. What we will get hours from now is the first look at 2023. I think it will be interesting to see if theres a slightly stronger economy that shows little more inclination to think about raising rates a little sooner among the dots. Thats what we dont know. Stanley in the new york area said he thinks powell and the fed have been extraordinarily gloomy. He thinks they were wrong about is and will beus looking as well. Without a fiscal stimulus package, it will be interesting to see if it doesnt work into the policy statement, how much that works into the questioning of jay powell at his press conference after the decision is released. A decision that will be the ,hole to hold policy steady if that makes the fed very cautious. Rishaad a lot of it is is about a lot of that the new inflation framework as well. Kathleen a lot of people at want to know, how is it really going to work . How far above 2 . If the fed overshoot on flint on inflation, they will have to under short under shoe because they theyve only been able to go above 2 and stay there in the last eight years. Spoke to himr, earlier today. Of the biggest things thats lacking right now, what are you changing about what you have done to try to get inflation to 2 . What is the fed going to do next . Thats a kind of thing he hopes jay powell will start to discuss next. Others are saying hes being is not aause there consensus on how far to let inflation go above that 2 target, when you would start thinking this is a reason to maybe start pulling in rates. This is something that i think reporters will give him lots of questions on those points. 24 hours from now, the three of us will be discussing this again because will have a better idea of what jay powell and his colleagues are thinking. Juliette we will indeed. Kathleen, thanks so much. Aming up, india unveils stimulus plan to attract tech manufacturers. I phone makers could be among the winners. This is bloomberg. Rishaad your back with Bloomberg Markets. Jp morgan spending sending some of its manhattan workers home this week after testing positive for covid19. Communicated to employees just days after the bank told senior traders to be back in the office on the 21st of september. Jamie dimon also weighing in on that debate, saying it will force economic as well as social damage. And 120 a share above the market range, a californiabased Company Plans to sell 28 billion shares and is set to raise 3. 3 billion from the offering. Amazonrare challenger to. Shares are set to begin trading wednesday in new york under the symbol snow. Auto home, chinese online Car Sales Company could raise as much is 1 billion u. S. The new yorkbased company is said to be targeting next year for the listing of auto home, which is valued at about 11 billion. Juliette were just getting some breaking news, some sad news on the virus front. Surpassing 5 million total virus cases, 5. 0 2 million. This is a country that has been struggling very hard to keep the pandemic under control, even though it has some of the strictest lockdowns in the world. Really hurtingen with those economy, indicators weve been following on bloomberg. 02 millionating 5 confirmed virus cases in india. Reid hoffman speaking exclusively to emily chang. I think what seeing here is the first place where were moving into a much more multipolar template, where Tech Companies in china arent only doing services for china. Part of the reason is with itcent and at we chat, hasnt really come over to the u. S. Much other than people who have worked with china and other kinds of exposure. Technology invented with china with global scope that will be contending with other global Tech Companies, which we in the u. S. Have been so lucky for decades to have kind of a free run broadly. The ringing ofw the bell and the competition here, personally i dont think its the right response to go protectionist. And howtheres an issue you bounce it out is important. Building bridges versus walls is generally probusiness kind of approach as well as a pro humanity approach. But thats how i look at it. If weve heard the first ringing of the bell and weve had the first awkward response, what we will see a lot more of is companies from china coming globally connected. Emily so you think Chinese Technology is becoming or her threat to american technology. Willt which platforms establish the platforms of the future . A lot of messaging products, obviously weve had to make those Global Messaging products generally speaking within the west coast of the United States. Here youve got this amazing set of technology from tiktok that someonew do you onboard and find videos that they want being,h, and have them like this is the next generation of television and entertainment. How do you do that . Tiktok figured out before any other company in the world. Rishaad reid hoffman speaking exclusively to emily chang. Just to put things into context, we have aviation stocks very much in focus. Eastern, chinaa eastern up Something Like 5 earlier. This airlines have been continuing their recent climb which could mean even more revenues for them. Remain s valuations investorboost confidence. An eight day National Holiday is coming up in october. Shares have been moving to the upside, and china eastern hitting eight month highs after august traffic data, which again showed remarkable improvements, unlike elsewhere in the world. Chinese airlines certainly at the moment are ones to watch. That domestic pentup demand. Japan will officially install its new Prime Minister later today with the parliamentary vote expected to be a formality. Lets get the latest from the parliament in tokyo. What happens today . He set to win a parliamentary vote at a special session being held at the diet building behind me. That would officially make him the next Prime Minister of japan. It scheduled to happen within a few hours from now. The new cabinet will be announced later today at 3 30 p. M. Local time, followed by a ceremony in the first Cabinet Meeting will be held this evening. So tell me, what does the lineup look like for the new cabinet . Is it the old new cabinet, and what are the issues facing mr. Suga as Prime Minister . Its a mix. He said he wants some of the key changes that include the chief and thesecretary, defense minister will now be reform minister. Oner key ministers will stay , the finance minister, among those who will keep their jobs. Focusing on fighting the pandemic while shoring up the economy. In terms of diversity, only to female lawmakers are set to be appointed key positions in the cabinet by suga. One will continue her role as olympics minister. Economics may not be reflected to well this year. Rishaad just getting to indian markets, we had to open a couple of minutes ago in mumbai. Were seeing some movement here right now, essentially to the upside. , with regard to the sin andand the nifty sensex nifty. The third highest death toll behind the u. S. And brazil, its his secondhighest infected country overall, as many as 95,000 cases being added daily. The real number of infected or dead has been far higher than official numbers, largely due to underreporting as well as inadequate testing. A nationwide serological survey lease last week said that six mean people are were expected with the coronavirus as early as may. Indian markets on the up at the moment,. 10 . Lots more on the way, including a look at the indian handset market for mobile telephony. This is bloomberg. Juliette a quick check of the latest business flash headlines. Google said remove nearly 300 Youtube Channels in july as part of an Ongoing Investigation into coordinated links to china. It said it mostly uploaded spamming content in chinese about music, entertainment, and lifestyles. In hong kong. Ents the u. K. Government is said to be considering attaching conditions to the proposed takeover of the countrys most valuable tech company. Officials are focused on maintaining its 3000 employees in the u. K. And keeping the companys headquarters in cambridge. Softbank had recently made similar commitments after the semiconductor charge. Are investors focusing not enough on Hydrogen Fuel . Shares have been on a roller coaster, based on the prospect of an earlier investor in the company who says he regrets pushing the company to go public before it was ready. The Worlds Largest hedge fund is having a very bad year amid the pandemic. Lossesrun up hefty within your 19 fall in august. Ongoing about brinkmanship between the u. S. And china. There are five kinds of wars and we are in four of these wars and could be in a fifth. Also there is a trade war, a technology war, a geopolitical the beginning of a capital war, and then theres the question of a military war. Having watched these things over a period of time and having close contact with the situation, we dont internationally have a rulebased system, so that there is a testing of each others public,which is done in and when leaders watch one liter win and another leader back off on that brinksmanship testing, thats a highstakes dangerous game. Issue, and it will be a big issue for the rest of our lives. Graham allison wrote a wonderful book. Weve talked about it before. Before we run out of time, i would be remiss not to ask you about your firm, bridgewater. No secret its had a challenging and difficult year. Are you confident, ray, that the firm can put all the stuff passed it, whether its external or internal, and perhaps most importantly to your clients, improve returns in your Flagship Fund . I dont have a problem with my clients come up because we something done Something Like 140 billion for clients that have faith in us, we are the Largest Hedge Fund for a particular reason. People who lot of are not knowledgeable about that. Our pure alpha league fund is down about 15 . Years, we have0 never had a significant, any significant downturn, all positive years. But we know that there will come a day. I want to say theres a problem sometimes in the media, weve had a particular problem with one correspondent with the wall street journal, and if you look at the particulars on the case that we went to in terms of is representing what the situation is, thats an issue. That happens. We dont settle, we are transparent, these things come about. Im not worried about any of that. We are just operating in the same way that weve always operated, and thats right, we have so far a bad year. That was ray dalio speaking to bloombergs erik schatzker. We are on fed watch, weve been seeing a little bit of drifting coming through in asian equities but they are tracking a little higher in the midsession. The msci asiapacific index on track for its fifth session of gains. That will be its longest winning streak weve seen since mid june. No surprise seeing a lot of went coming through in the tech players today. Saying tsmc will benefit from the ipad air. We had the big apple event overnight, saying its positive for ipad units. Also watching some positive momentum in australia, being led by bhp. Also having a look at csl, which was one of the bigger movers in australia. And outperform with a price target of 333. An upward momentum ahead of the fed, but we could see that lag in the afternoon session, as we often do, on the nikkei. And the prognosis for the u. S. Economy, the data has looked a little better. India has been trading for 11 minutes and a premuch unchanged flat start to the session, in line with the sentiment across global markets. Investors looking forward to that commentary from the fed. Sex is flat, and the nifty index opening with gains. Lets move along to the big story as far as the yuan, and you mentioned most important exceeded 5l damage million and as many as 95,000 cases are being added on a daily basis in india. Yuan, breaking all sorts of record at the moment. It strengthen 4. 2 since the end of june. Today was the strongest, biggest move, since april 8. Policymakers seeing the best quarter ever for the chinese currency. This is bloomberg. Look here, its your very own allinone Entertainment Experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. The following is a paid program. The opinions and views expressed do not reflect the opinions of bloomberg lp, affiliates, or employees. The following is a paid presentation brought to you by rare collectibles tv. Announcer the Morgan Silver dollar is without a doubt the most iconic coin in United States numismatics history, designed by United States mint assistant engraver george t. Morgan, this Silver Dollar series was minted from 18781904, then again for one year in 1921. The morgan dollar is nearly an ounce in weight and has a 90