Good morning. This is bloomberg daybreak europe. These are the stories that cite your agenda. A selloff in chinese equities deepens as the property sector crisis continues with Country Garden ocean shares plunging. Save the date. Goldman sachs says the fed will start lowering rates by the end of next june with cuts being gradual and quarterly. Plus the yen weakens through a key level against the dollar, triggering speculation authorities may intervene to support the currency. Good morning. Happy monday. Welcome to a new week. The last week ended with stocks scrambling for something to cling onto. The s p 500 closed a month low. The nasdaq notched its longest weekly losing streak this year and the latest mixed Economic Data did not do much to help. If you are a stock or treasury bull, bill gross has a message for you. He says the fair value of the 10 year up and is about 4. 5 . But look at where we are this morning. 4. 17 , up two basis points. A way off to go. In asia, the selloff in c
Welcome to daybreak asia. We are coming down to ages major market opens. Haidi the top stories this hour. The market searching for motivation as a tame u. S. Inflation report the case for a fed rate skip. A weak 30 year option. Alibaba returns to Revenue Growth across all major divisions define chinas define chinas economic woes. Bloomberg learns chinas market regulators will meet developers and financiers on friday seeking solutions to a worsening property crisis. Kathleen we are waiting for the Rate Decision from the banco ce ntral peru central bank. Expected to hold again even though inflation is falling. They did holder key rate at seven and recorders percent exactly as expected. We are going to be looking for messaging because Goldman Sachs had predicted they might cut their key rate today because inflation has had a nice downward trend lately. If not today they will do it at their next meeting. That is the latest from latin america. We will be waiting for any Additional Informati
Australia. I am in sydney where markets have just come online. I am in hong kong counting down to asias trading open and the top stories this hour. U. S. Stocks lose esteem near record highs as traders race for data and fedspeak. Treasury yields rising after options of two and fiveyear notes. Haidi tumbling 37 on lower asset prices and 1. 5 billion in writedowns. Annabelle and china calls on australia to support entry into a transpacific trade block at the wto chief called for reform to revive global commerce. Haidi a cautious session is what we are setting up for this tuesday morning. This is the start of the staggered session coming online. Woodside will be one of the last segments to come online in alphabetical order. Woodside profits sliding on lower prices. We are expect in a bit of pressure on how the stock trades today. We had the 1. 5 billion in charges with earnings falling a cross 2023 as production increased to a record. Taking a look across the rest of the markets, we are s
U. S. Futures down 6 10 of 1 . Normally a price move you do not see in the asia pacific save for events like we are seeing today. The dow futures, a substantial pickup. Coming off highs on vix futures. We dont have japan trading so youre going to get a lot of that in the form of going straight into these contracts. Since japan is closed looking at futures. The fact a dollar is stronger against Everything Else but the yen is stronger tells you the mood is yvonne do you go into a traditional haven plays like treasuries after the week we had or should we be worried maybe with oil prices being elevated there could be this third wave of inflationary pressures coming into the forefront . That is what the market is contending. You certainly are seeing where the trade is. It is oil markets reacting. Rishaad it has the traders looking at possibly a proxy where with iran taking place. Israel produces Something Like 320 million 20,000 three to 20,000 barrels a day. With the consumption of 236,000
Expecting. Tesla had a week quarter but still a good outlook, rising after hours more than 12 , going all in on autonomous vehicles. The bar was high for mega caps stocks. That is the state of play for japan, japanese yen Holding Close to the 155 mark. The yen is a question of how much it is helping versus hindering. Consumer stocks are weaker, a catch22 for the boj, yen week. Boj needs to curb that. Holding steady will give traders incentive to push past 155. Lets change to korea, the kospi online up more than 1. 5 . Small caps are in the green, Texas Instruments is a another name with a solid forecast. Come back in demand so chipmakers, the korean won is weaker against the dollar. Paul in australia, staggered open. Premuch flat in the aussie dollar was showing strength relatively speaking, knocking on the door of . 65 u. S. Were going to get an important cpi prints. Cpi and australia is easing, still outside the target band, but encouraging progress. The trend mean is the metric drop