February as it tries to recover from the note 7 debacle. Across theclock a. M. Emirates, 7 00 a. M. In istanbul. Welcome to Bloomberg Markets middle east. Start, it really was all about the fed, but we have moved on to china after exports and imports figures came the market,plined then we saw brett across the screen. This conversation we are having globally is about the fed. How did it impact what you are seeing . Angie, it is about the fed minutes. When he what happened, because it pushed the bloomberg dollar index to a sevenmonth high. I have prepared a chart to show you how the change in sentiment has been reflected in u. S. 10 year treasuries. You are looking at that fall in september now back to the highest level in four months, from below we saw earlier of 1. 54 . Those minutes showing that there are few signs of emerging inflationary pressure. Also showing there is concern on continuing delay and it might cause a further divergence from the policy benchmarks that were the credibility of the central banks. Angie thanks, use of area lets do a quick check in the state of play thanks yousef. Dubai has been trading for 20 minutes. It is showing losses this hour. The msci a asiapacific showing lower on that that speculation, but china exports and imports really weighing in. Wellt turning around as into negative territory, despite a u. S. Dollar helping to weaken the yen. That was not enough today. In the middle east, just under two hours away from the opening of the arab markets. 10 00 a. M. Local time. This is where we last left it in dubai, abu dhabi, and qatar. It was and continues to be the oil story here, and there are some interesting moves as well on some general place in the equity markets. Yousef. Yousef it is oil and banks. Inc. Shares driving the gains in this hour. There are concerns about how they are going to fare in this lowerpriced environment. Will be a process, of course. Now lets check in on the first word headlines. Reporter wells fargo shares jumping in after hours after news that the ceo stepped down. He and the bank have been under pressure after revelations that they created hundreds of thousands of accounts without customer approval. Last month, he was heavily criticized on capitol hill, with lawmakers calling for legal action. Korea says it has taken samsung through its seventh debacle into account. Governor lee said he needed more time to accurately gauge the effect, but he admitted there would be some impact separately. Samsung will launch a new smartphone in february, a month earlier than planned. Caps on shares on the rebound today after word of a threeday in 20 12. Cafe pacific shares falling to their lowest in seven years after a critical review of it is this. Cathay also said that second half results are not expected to be better than the first half. In august, cathay reported an 82 slump in net income. Is calling for a third day on speculation that the opec agreement to cut output will not succeed in reducing the global cut. Saudi remains positively optimistic that a deal will happen soon. Russia has signaled it will follow opecs lead, with the secretarygeneral saying talks with moscow have been very constructive. U. N. President Vladimir Putin have a very Firm Commitment to the highest level of government. You have been with us, working hand by hand, sidebyside, shoulder to shoulder. We are confident. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Minuteshe latest fed show the death of the argument about a rate hike and why three dissenters were calling for action. Got Kathleen Hays in new york with more. What have we learned . Kathleen we have learned that this is a Federal Reserve that is still too excited to make that move towards a rate hike. Certainly we were expecting it by the end of 2016, but we wont we did not get it in september, and heres why. They looked at the labor market. There is a lot of slack, they said. When there is a lot of slack, even higher wages will not rapidly push up inflation. There is no agency to move. Maybe it is more prudent to wait. Brisk avoiding too long, the risk that inflation will start rising, and once you start raising rates, you have to raise them so fast, you will is the economy into a recession. Lets jump into the bloomberg and look at world interestrate projections. What you have been seeing for a 100 on that,3 of the rate hike comes in december. Mohammed al arian, Bloomberg View columnist, said the market is getting it right. I think the market is right about a december hike somewhere between 2 3 and 3 4. Why is it not higher . Because it is a long time until december, and there is a lot of fluidity on the political front, but also internationally. Fluidity on the domestic front, the president ial election. No matter who makes it to the white house, what decisions will they make, particularly on International Decisions like trade . That takes us to the international picture, brexit for one, and in the last few hours, china with weak exports. Chinas stock market was falling. We will see how far this goes. But there is one more thing. Between can happen now and december, and international of forces International Forces can also affect the fed. Yousef what side of the fence as janet yellen been on . Kathleen i see myself in a pastor. We have hawks in one side and doves on the other. Janet yellen is definitely with the doves. What the doves said in a september minutes is something janet yellen talks about a lot, slack in the labor market. The labors slack in market, you dont have to worry about inflation. Lets jump back into the bloomberg and look at a fund chart. It shows four measures of unemployment in the united states, and the bottom line is the percentage of people who are unemployed and looking for work as a percentage of the labor force. It is at 5 . If you look at this chart, there are two thing things to notice. One, the unemployment decline has flattened out in all those measures since the great recession. It is still relatively low, but add in the blinds. The very top line includes workers who are discouraged, so they are not well working. Workers who are working parttime because they cannot find fulltime jobs. A point of slack. There are a lot of workers who can come into the labor force so you dont have to worry of unemployment falls and jobs grow about it asian. About inflation. That is the point of the argument. A lot of people are looking at the dynamics now, the fact that some doves have become hawks and say janet yellen may not have the same control that she did. The forces are changing just a bit. Yousef thanks, kathleen. Lets pick up on the china data. China exports fell the most since february last month as Global Demands remain tepid. Look at the numbers on the bloomberg. It is pressure on the yuan, now and its sixyear low. You are looking at imports that came in below expectations in september. Our china correspondent has the numbers. Give us more details. the headline numbers are this. The trade surplus for september came in at 42 billion, 11 billion below expectations. , importsere down 10 down almost 2 . Bloombergl is telling about the numbers are consistent with a global slowdown in trade volume, saying that china is running out of options. Other analysts saying that export audience may pick up as early as october, possibly as christmas orders come through. Tom, werent exporters meant to benefit from the weaker yuan . Again, analysts showing that data shows the diminishing impact of the yuan on exports. We have seen the yuan depreciation against that trade weighted basket. Year to date. N 7 it seems like consumers primarily in the u. S. Rt and not chinese products in big numbers as they were before. It looks like a concerning picture for the Overall Economic picture here. Gdp expected to come through at around 6. 7 . That might be revised down. Look tomorrow for inflation data. Later this week, we will get money supply data as well to add context. Angie lets see how much pboc spent to control the currency. Our china correspondent tom mackenzie. Lets get the latest from the markets, because we definitely saw that swing to the downside after china. Heres david ingles. David that one really just catching markets off guard. There is a possibility it was much more disappointing than we thought there was a possibility it was disappointing. It was much more disappointing than we thought. Look at this. This is the highest since march. When the data came out, everything went south. We are pulling back on the dollar index. Yields were on the way up. In fact, we came within tenths of 1. 8 on the u. S. 10 year. Look at where we are now, 1. 74 . A lot of this beats the expectations of the that may move, perhaps getting dialed down right now because of the china data. This is a charge of what happened today, the u. S. 10 year yield, 1. 74 . We started our closer to 1. 8 . How is that playing out in the equity markets . It was not the best situation to begin with. Moment i at the think the main difference is when you look at what is happening with the nikkei 225, which was up 8 10 or 9 10 of 1 before. The data came out, the yen strengthened. Nikkei is down for tenths of 1 . At what is, look happening in thailand, 9 10 of 1 . Seeing pressure on the bond markets as well, and credit basis points 18 into this morning. Something to watch, thailand. The market has lost 14 billion 40 billion u. S. Dollars in market cap in the last cointreau days, about 78 of the entire index. Thanks, david. Still to come, we will take a closer look at what is happening in thailand. The governor is asking its citizens to avoid social media. Angie also, still showing patients. The fed decided against a hike last month, but how much longer can it hold out . What a cautious approach means for markets. This is bloomberg. Angie welcome back. Im angie lau in hong kong. Yousef and im yousef gamal eldin in istanbul. Oil is falling for a third day on concerns that the ongoing talks with opec and nonopec are not going to yield any tangible agreements. With the Energy Minister of the United Arab Emirates just after the meetings ended here in istanbul, and asked him what the road ahead would look like. Looking at the market itself, we are seeing a positive , whicht in price indicates that the market was not responsive to the fact that our side to doon something. Opec. Not going to be only it will be more than opec. We are encouraged as we see a response from different major , and we are expecting more and more recoveries to join us in the end that. Indiana. In vienna. Alsoearly there were absentees this time around and iran. Is that something you are worried about . This was a formal meeting, first of all. This is a meeting where whoever is here can come. It was more meant for the secretarygeneral and the chairman to talk to opec and try to update them on what happened in nigeria. I think we agreed that we need and contact more countries and invite them to come to that unofficial opec nonopec meeting. Earlier, it was said that opec is not targeting a specific price. They are trying to reduce the overall supply in the market, inventory specifically. You said that 40 a barrel is enough for the industry. What price is a healthier range . You people sometimes take part of what i say. What i said is, if it goes to 50, comes back to 40, then goes back to 50 and comes back to 40, this will not encourage investors to put more money in what we need for the exploration and development of new projects, and that means that market stability is very important, more important than the price. Need to encourage investors to put more money into this business. They will not be encouraged if the price jumps from 50 to 40 to lower. This is what we are trying to do as opec, and i think it takes more than opec to stabilize the market. Opec is a responsible organization. The uae is a responsible member of opec. But there are bigger players who need to do their jobs as well. How much would you be willing to cut, or can you cut . Again, lets wait until the committee meets. They will study different scenarios, and then we can decide what will be the best scenario for everyone. Coming up, calling for action. We will take a look at why some are pushing the fed top to hike rates sooner rather than later. This is bloomberg. Angie we have been discussing the latest fed minutes. It is believes the decision will largely be data dependent. The data is pretty good, and even with the kind of pick up in terms of manufacturing activity. All these features are giving indication that society is clearly willing to hike in december. But on the other side, market expectation has been extremely , so that was necessary to give indication. Angie tom murphy is the managing partner of he says politics way this time around. Became to the conclusion that the fed had all that it needed to hike in september and will wait until after the election. That has happened. We know that. Movealmost certainly will in december now, and i think janet yellen will be on the side of that move, in contrast to her position last month. Other analysts say the fed has a lot to consider. The fed does not seem to be looking at just the inflation rates themselves. Looking at only unemployment, participation, but also wage increases. I think those will all be contributing factors. Most likely, it is not going to happen in november, at least from what the fed futures look like. It looks like it will be a december vote for them. Angie cap was the word on the fed. More now on the latest fed minutes yousef angie . Angie go ahead. Yousef lets stick with the fed minutes. Clearly a close call. Direct quote from the minute. Not just that, but they are concerned that if they wait too long, they will cause more damage. One of those sharing that concern has been the former fed governor randy closer. Have a listen. There are aes, number of people who want them to be moving sooner rather than later, and what is very interesting is someone like Eric Rosengren who has been very disposed to keeping rates low for such a long time is now dissenting and saying that we need to move. Are some of the labor market issues you discussed are the pressure points, but there are other points eric has raised that i have concerns about. We dont see a lot of inflation, and we have not seen inflation rear its ugly head in so long that i think a lot of people, not necessarily as sophisticated as Federal Reserve economists, but a lot of Market Participants find it hard to believe that we could see the economy over huge, even if rates were kept lower for longer. For sure. Right now, we are seeing inflation below the feds 2 target. It has been there for a while. Expectations have come down. The best type of centralbank policy is one that is looking through the front window of the car rather than looking to the rearview window of what has happened in e past. They want to be ready, but i some of is not only these inflation pressures, but also some of the Financial Stability considerations, thinking about the consequences of having Interest Rates low for so long. When i was there in 2008, the beginning of 2009, we brought down rates to effectively 0 . Meany got that is going to 2015, 2016, 2017. We talk about looking out the front window instead of we are focusede, a lot on what is going to happen in december, but when we look at the past, what do we know right now . This mean for the past Going Forward for rates . I think it is still going to be a gentle path, and that they have come out with the statement of the dots where each member says rates are going to go. Morehas become more and gentle over time, and i think it is still going to be gentle. One should not mix up the extensive dissent with the deep the extensive decent with the extensive asset of the rates. I do think people want to get started sooner rather than later. How important is it we know there are five governors and the president of the bank of new york that vote, and then four others that rotate through the regional fed president s who do not vote, but how important are their views when they speak at these meetings . I think janet yellen as well to build aanke try broader consensus. It was not a focus just on who is voting and who is not voting. It is really, what are people saying, what kind of analysis are people giving, and where is the broad consensus of the committee . I think it is a little too narrow to focus on the voting members. Formally that is where the decision is made. A broader, it is kennedy kind of decision that is made. And it is the substance of the argument. Angie the former fed governor speaking to bloomberg. Coming up, saudi arabia considers easing checking in on headlines from around the world. Chinas exports fell since february of last month as Global Demand remained tepid. The trade surplus coming in at 42 billion. Data may increase pressure on the yuan, which touched six euros earlier this week. , extending the klein after u. S. Industry data shows stock piles brewing as differences emerge in opec about sharing cuts and output. Russia says it is willing to work with the cartel ahead of next months meeting in vienna, withdrawal which will try to settle how much venezuela and iraq should help. 4 falls after the nikkei reported the delay of a planned merger. The two delayed the two mergers will hold a conference tuesday after both delayed a deal from april. Japan has been pushing refiners to consolidate. The minutes of last months fed meeting shows that policymakers decision to halt raids was a close call. The fed has preferred rate increases at every meeting this year, but together again this year. They will meet again on the first. Global news 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries. Im haidi lun. This is bloomberg. It is 7 30 a. M. Istanbul. I use of open again. Eldin. Ousef gamal reporter lets talk about the latest on the brexit story. All inn yesterday was the currency market. In the houses of parliament, we undereresa may speaking, pressure to allow parliament more of a say on brexit. It looks like it will get more of an opportunity to have their say on it, but specifically she would not promise lawmakers that they would get to vote on the matter. There were the a lot of debate, not necessarily a vote. Today, tension moves from athens to parliament him up to a london court which will decide whether it is up to theresa may and her team to decide on the timing of the brexit conversation. Failure by her side theresa mays side to defend themselves in this case would force the issue into the house of commons and house of lords, and you have to remove or she has a very small majority in the house of commons and nothing like a majority in the house of torts, so she would be up for a tough struggle against those lawmakers if it has to go in any formal way to those bodies. Thats where we are on this political and legal backdrop. In terms of other news, look out for scotland today, because we snp launching their annual conference, and Nicola Sturgeon will be talking about limiting the damage to the scottish economy as a result of exit. Scotts want it to remain in eu. So far, she is resisting calls for another independent referendum for scotland. Locks to talk about on brexit debate. Yousef we are in full swing when it comes to earning season. What are you watching out for today . Anna we could see the brexit conversation, the pound having an impact. We get key numbers from unilever. They make things like lipton tea, hellmanns mayonnaise. They will be reporting numbers. Estimatehe increase that we see from 18 analysts surveyed by bloomberg. Theuld be much slower than second quarter, when they saw 4. 7 . A slowdown in emerging markets accounts for almost two thirds of the companies sales, something the company has been dealing with. They have been acquiring businesses in male grooming and home care to take care of that. More than 90 of their sales come from outside of the duke a. What will they say of the u. K. What will they say on the currency . Also, sky, the broadcasting business, operates across the they will have to translate all those nonpound earnings back into pounds, and that will boost your business. They will they have been adding products for this company, providing combined tv, internet, and phone services. They have also been dealing with rightses in costs for tv in costs, as the competitive environment for tv rights is increasingly competitive. They have tohat say. Angie. Angie anna, thanks. More pictures have emerged of what is claimed to be a Samsung Smartphone overheating. This was shot in central south korea. It is said to show smoke coming from a note 7. Most of the affected phones were sold in korea and the u. S. Samsung says it is sending Flame Resistant packages to american customers. Despite that, samsung seeing healthy gains today. You can see it smoking hot. Whats going on . Bloomberg managing editor for Asian Technology joining us from tokyo. Samsung has been given a first indication of dropping the note 7. How much are they talking here . Thats right, angie. Yesterday after the market closed, they came out and said they would cut their operating profit prediction for the third 2. 3 billion, which is the first indication we have gotten about what the costs are going to be for this debacle with their phone. Have baked in some of the cost of taking back the phones they have on the market right now, and also getting rid of the phones. That will cost them something. Also, they are forgoing some sales. This is an issue not just for the Electronics Company itself, but also for the component makers that feed into the foam unit. Phone unit. Yousef peter, how does this affect the rest of samsung . The reason it will not have an effect for samsung is because the phone business buys components from many different units within samsung, the display business, the chips business. Other parts of samsung feed into the phone business, and that has been their marquee product over the past few years. It has helped drive their share price to a record high so far. Now they need to dig into what exactly went wrong. They are trying to investigate what happened with this battery, especially because they recalled the phones run recall the phones once come up with the again, and continued to have problems. Reaction are we seeing from investors . Shares are uptodate. Investors are hoping this is the beginning of the end for this crisis, that now the company has put an estimated cost on it. This is just for the third quarter, though. They put out a elementary estimate just a week ago, and they came out and that they would cut it i have dramatic amount. Investors are hoping this is the beginning of the end and that the cost will come down a bit. Manus Peter Ahlstrom yousef Peter Ahlstrom joining us. Thank you. Lets check in whats happening pacific at the moment. Those shares tumbling to a sevenyear low. This is after it abandoned its profit forecast and said it no longer expects secondhalf results to be better than the First Six Months of the year. Lets get more perspective. Rosalind chin has been across the story. What is driving the sentiment . It is a difficult time for cathay. In the first half, cathay said hopefully the second half will be better, but now they are saying the second half probably will not get better. It indicates how tough things really are. It did say the Business Outlook is deteriorating and it is facing strong pressure from, yields,and pressure on and revenues are coming in lower than forecast. I mention yields because that is. He key metric of profitability the number of passengers carried by cathay and dragon air, one of its units, increased in the first half, but yields slumped 10 . Things are not going well for cathay, and it is part of the increased competition. Engaged insay we are a critical review of our business. Review will include all options for efficiency and relativity. This morning, at least two wreckers cut their ratings after the outlook. The bloomberg, zero buys, seven holds, 11 cells. If you take a look at how the stock has performed, it is slumping 5. 6 during todays session, but check out the bloomberg terminal, just kind of showing you why they are so concerned. This is one of the worstperforming stocks on the hang seng as well. It is the third worstperforming this year. You can see it is dropping. Essentially, yes. We have been seeing issues. Oil has been an issue for cathay in the last few years. If you look at this chart, it shows how they are doing this year. This circle area shows a steep drop in cathays share price. In august, you can see it was one of the biggest twoday losses in seven years for the headline. For the airline. The hang seng is the blue line. Profits for the half fell by 82 , which was a shock for investors. Analysts are not too convinced it will get much better for cathay. Yieldstimated passenger pressures sees losses continuing into 2017. It is said they will have to lower prices to maintain traffic. It is said they have been hurt by the triple whammy of the strongollar, cuts in the Financial Sector, and higher charges. Thank you so much. Saudi arabia is said to be granting more license to foreign banks and easing restrictions on their operations. The move is part of the kings plan to boost growth through the private sector. How significant, matthew, with change the for foreign banks invested interested in getting into saudi . Matthew good morning. This is going to be a very significant move for the Banking Sector in saudi arabia if the central Bank Approves these proposed measures. Hitting a license to operate in saudi arabia has been like gold dust. Been around 13, 14 International Banks which have licenses to operate on the ground and actually take deposits and do. Read and Retail Banking on the ground. Full corporate and Retail Banking on the ground. While losses have dropped recently, it has still been very difficult for the International Banks who want that presence on the ground and want to build International Client relationships. And we have talked a lot in the show before the saudi arabias planning and opening up of the private sector. This will potentially be a very big move for the Banking Sector and economy. Yousef matthew, these licenses are a very scarce commodity. Given that the question becomes more food is not interested rather than who is interested, write . Matthew exactly. I think this will be interesting. If you look at who is on the ground, weve got the likes of Deutsche Bank on the jpmorgan. Those licenses have come through Quick Program arrangements quid pro quo arrangements. Youve got one french bank, one british bank, one u. S. Bank. If the door opens a little more, youve got the likes of citigroup interested in selling to the country. It will be of great interest to them to expand their footprint there. The banks in china and saudi arabia look to boost the trade and financial ties with china and asia. I think we could see a lot more banks are not part of the world expressing a great deal of interest in getting a presence on the ground. Would be the latest in a series of reforms to try to open up saudi arabia to Foreign Investors, but it also comes at a time when saudi arabia is struggling to cover its budget deficit. What is causing this change in terms of policy now . Matthew as you say, the government is under intense physical pressure now and economic pressure from the slump in the oil price. It is trying to embark on a strategy where the government will step back from being the main driver of the economy to try to get the private sector to step up. Obviously, a key part of that will be enabling the Financial Sector to be larger and more liquid thanand more it is right now. I think that is what is driving these measures. The government is looking to boost not only the private sector from around 40 of the economy to around 2 3, but it well. To boost fbi as they want Foreign Investors to come in and start investing. It is a big part of the economic push going on. Yousef matthew, thanks a lot for joining us. Isnas week Economic Data causing concerns about future growth. We will talk through more of the implications. We have that coming up. Stay tuned. Welcome back. You are watching bloomberg. Yousef a quick check on the latest business flash headlines. The majority owner of turkeys biggest Cell Phone Company is said to have missed its payment in september on an almost 5 billion syndicated loan. The missed payment announced a 290 million. Amounted to 290 million. The slumping lire has eroded dividends received in the local currency. Egypt moved a step closer to securing a 12 billion loan to the International Monetary fund after receiving a 2 billion deposit from saudi arabia. Cairo is seeking as much as 6 billion from bilateral world creditors. The central bank declined to say when the cash arrived on saudi. Aramco is still evaluating whether to lift shares in new york following the passage of a u. S. Law allowing the kingdom to be sued over 9 11. The chief executive officer told Turkish Television that aramco is discussing parallel listings london,ork, hong kong, as well as at home. The ipo is expected to be the biggest in history. The sale of 5 could value the company at trillions of dollars. Angie chinas export fell every last month. News chiefloomberg asia correspondent joining us. What does this tell us really . I think these numbers were quite a surprise. It underscores just how weak that global trade is right now. It shows how fragile the outlook is for the chinese manufacturing sector. Imports are down as well, which does not bode well for futures, because china imports a lot of components from the manufacturing sector. When they are not importing as many components, it suggests they have a big order down the line. All told, a sloppy trade number. Angie what happened to the weaker yuan presumably helping out exporters . Theyu would think so, but are not getting much bang for their buck. Japan a weak currency does not necessarily translate into improved demand for goods. It comes down to demand in corresponding countries rather than the exchange rate. Not as muchrency is as you might think. Yousef what does the data signal for the future you on from Gary Ackerman future yuan from here . He wasr like and saying, you would think the temptation for chinese authorities would be to weaken the yuan Going Forward. We saw the fed minutes last night talking about the potential for a fed rate hike area that would put fed rate hike. That would put pressure on the yuan. Time, just because they are weakening the yuan, it does not mean that exports will improve that much. It is more about underlying demand. This is more of a global trade story than it is about one china can achieve in boosting their competitiveness with the yuan. Until Global Growth and the Global Economy starts moldering again, we are not expecting to see a turnaround in the near term. Thanks. Angie coming up, a call for calm. Chinas military backup telling people to ignore rumors that the second warning came. We will have the latest next. Yousef welcome back. Angie a quick check of the latest is the splash headlines. Snapchat is said to have business flash headlines. Snapchat is said to have chosen bankers as they push ahead with the biggest social media ipo since twitter. The listing may happen as early as march. Other lenders from jpmorgan to credit squeeze will be active book runners area the company known as book runners. The company known as snap inc. Filed its ipo documents. Andtesla motors shareholders will vote next month on their proposed merger. Place at two take special meetings on november 17. The two elon muskled companies did not doerge, but to shareholder unrest and lawsuit. The meeting will get more shareholders updates. And Samsung Smartphone debacle is said to have brought talks with chrysler over its car parts unit to a halt. The two companies are said to not have agreed to an evaluation or the structure of any deal. We are told they are still keen on a tie up, but samsungs need to focus on the note 7 crisis means it is unlikely that an agreement will be reached by the end of the year. Yousef thai stocks are extending declines even after the military backed government has that people should not follow rumors on social media about the kings health. Lets follow over to our south correspondent. Any updates . You said the latest update came last night with the palace saying that the kings condition remains unstable. It is the second update in four days. Away from is breaking its usual practice of being silent. What we also know is that the Prime Minister cut short a provincial visit to return to bangkok. We were told that he was meeting with a crown prince for a on the update government. As we have been reporting, there have been growing rumors about the kings health on social media. It is the crop the top trending story on social media on twitter. The palace released a statement four days ago. Thai assets have really taken a beating. Ang. Rishaad has, give us a sense of the market turmoil. We saw another repeat today. Reporter you said it. It has not been pretty, and that has prompted the thai regulator it will investigate who has been spreading the rumors. Thai stocks have fallen every single day since the palace released the update on the kings health four days ago. Week, of about 7 this the biggest drop in that period. Theou take a look at bottom, it has been weakening, the worst performer in all of asia over five days, down about 2. 5 since the dollar. Pythons, same story. Two theyas the biggest ride in a year. The sense that you get is the market is jittery. The king is seen as a unifying figure, and the country has been in political turmoil by rival political parties. And we continue to trade developments in the coming days. Angie all right. Thats haslinda almond for us right there. I wanted go, a yousef, to bring in a chart on asian equities as we wrap up this asian trading day. We see this equity rally more are, and itwhere we is stalling. Thats what were watching. Thats it for this edition. Yousef angie, it will be interesting to see how investors react to the data later on from the eia in terms of the oil inventories. More guidance there. Thats all we. Coming up next is daybreak europe stay tuned. ,l anna the worst slump in seven weighinghina exports on asia, sending the yuan to a sixyear low. Fomc members listen to janet yellen regarding holding rates, but supporters say it was a close call and hike is needed relatively soon. And wells fargo ceo public outcryto over the fake accounts scandal. A very warm welcome to