Lizzy good morning. This is bloomberg daybreak europe. Im lizzy burden in london and these are the stories that set your agenda. Rebound in china and hong kong healthstream losses but contagion fears mount over chinas property sector and sluggish economy. Divisions over a decision most fed officials see significant upside risk to u. S. Inflation, but two favored leaving rates unchanged. Plus, the one falls, shrugging off beijings most forceful guidance since october. The yen tumbles through prior intervention levels to near its weakest this year. Welcome to thursday. The two stories of the week have only gathered pace. First the fed looks like it will keep rates higher for longer, that narrative strengthened by the latest fed minutes and strong u. S. Seco data. November pricing picked up slightly and investors are selling treasures. The Market Outlook for 2024 is its most hawkish yet. Twoyear yields hovering around 5 . The 10year at levels last seen in october. Yields continuing the ri
Youre watching daybreak asia coming to you live from new york, sydney and hong kong. Counted up to the major market opens. The top stories this hour, asia set for a risk offer, from the july minutes touching intraday highs not seen since october and the end at its lowest level this year. The Central Bank Policy makers are still seeing significant upside risks to inflation, which could require further Interest Rate hikes, and reports of rare protests in beijing as one of chinas biggest shadow banks skips payments on Retail Investment products. Lets switch look at u. S. Futures, stocks to get on the chin today after the minutes from the feds july meeting shows that the vast majority are resigned to at least considering the possibility that more rate hikes will be needed. Some mixed close, but seven at seven lead to the downdraft with some big tech names like amazon and tesla. You could see again, right on the screen, still there, but i would call this unchanged. Markets, the whole world
Haidi welcome to daybreak australia. I am haidi stroudwatts in sydney where markets have just come online. Annabelle i am Annabelle Droulers in hong kong and we are counting down to asias Major Trading opens. The top stories this hour, asia is set for a week open ahead of key u. S. Inflation numbers. Fed officials empathizing data will drive the pace of Interest Rate cuts. Haidi earnings in focus in late u. S. Trade, paramount still swollen even as streaming subscribers beat the street. Snowflake melting down after its forecast missed estimates. Annabelle plus, bitcoin tiktokking 60,000, as etf driven demand triggers a bull run. Haidi all right, lets get you to the start of trading this thursday session as we get that staggered just creeping online when it comes to sydney stocks. Seeing a bit of a flat start to trading. Looking at the bit of a retreat bringing set up in the asian equity session. Both treasuries and the dollar strengthening ahead of the key inflation metric expert on th
Haidi welcome to daybreak australia. We are counting down to asias major market opens. Annabelle the top stories this hour, asias chip and tech stocks sent to take the spotlight after nvidia delivers a bullish sales forecast, bolstering confidence in the ai frenzy. Haidi Anglo American agrees to talks with bhp, opening the door to what could become the biggest mining deal in over a decade. Annabelle plus, we speak would live with rbnz governor adrian orr about the Central Banks office hold and why he is still worried about sticky inflation. Haidi that is a Big Conversation as we continue to talk about risks when it comes to economies deciding when the first easing move will comp it we have more data coming through across the bloomberg and it australia pmi. The may flash manufacturing pmi coming in unchanged. Still in the contraction territory. The composite number coming in at 52. 6. Also that a bit of weakness from the previous reading of 53. The preliminary Services Number maintainin
across asia pacific, the bank of new zealand held the cash rate steady at 1% as expected, but we saw highs of the session after the benchmark hit a fresh record high, still up by .5 percentage, and at the same time the japanese nikkei is higher by .5% above its 50 day moving average, being helped by very strong gains in softbank. the one moving to the downside is the csi 500 for china mainland stocks, but you have to put it in perspective. remember, this comes after a 7% gain we have seen over the past week or so, after the initial lunar new year holiday losses. to the upside, we are seeing the hong kong hong sang above .4% read let s look at the board for big winners and losers across the asia-pacific region. one of them is softbank, up nearly 13%, the best day in a year for the company, after approval of the company s sale of sprint to t-mobile. on the downside, i-8 a group aida group, a construction company missing the lowest estimate, down more than 10% at the moment, t