6 00 in the morning in london. A lot of the focus today still in tokyo. We will get to what is happening in the Asian Session right now. And tell you what the boj has been doing. No change to the negative Interest Rate policy, 0. 1 . But the reorientation of the policy is moving to target yield curves, away from setting specific monetary stimulus per year. This is the impact on the market, if we can throw the risk radar, you will see the monetary stimulus may now fluctuate in the shortterm, as they seek to control the yield curve. Inflation about 2 . There are the headlines. This is reactionary the 10 year did actually get to zero. If you can call zero positive territory, just got there, falling away since. The japanese yen at 102. 69. Shy of 1 by just against the dollar. Perhaps that would make governor boj, pleased at least in the short term. And a reorientation the policy on buying, to ron the spectrum of the buying. ,inked to the topics outperforming the nikkei. Because we said ear
Thisfficial chinese pmi, is where the distinction is drawn. We can consider it grateful for a little bit of calm. Anna a little bit of stabilization preg20, better than estimates, better than the july number, but not convincing everybody. Manus it has not. Let us take it off. What we have here is the insurance against default. Every single month, every single month for the past five months the market has been adding 2 billion over the past five months, the biggest increase in 59 countries throughout the world. You can say to me , just around 152 basis points, still only 8 probability that china will default. What im trying to say there is momentum. A carriage of travel for default insurance. Anna not the people expecting the Chinese Government to default, but is very few ways to hedge chinese exposure, and if this is on the rise that is of interest to the markets, especially ahead of the g20. The risk radar, positive data that we have had out of china, released the official reading boo
Welcome to countdown. It has gone 6 a. M. In london. Lets talk about the fed and what they did and did not do and with the did two markets. No change in interestrate from the Federal Reserve. That was generally expected although there was that risk it would flag. The dollar index fell and it is still weak. The dollar index down by. 3 of a percent in the trading session. The feds inaction has weighed on the greenback this year, that is the subtitle that goes along with this chart showing how the dollar has fallen and is having trouble making any headway of toward the feds inaction and weighing on the dollar. There was some hawkishness around the shortterm trajectory. Youll see expectations of a hike in december have been pushed up to above 61 . Asian markets have responded to the no change decision from the no change decision. Up shy of 1 . The fed did cut back on its expectations for hikes in 2017. Bringing that down from three to two. That was seen as fairly dovish and equity markets
No word yet on whether she plans to turn herself in. Secretary of state kerry and Russian Foreign minister lavrov will meet in geneva to discuss a possible syria deal. Russia is a key ally of alassad andhar the u. S. Supports rebels trying to overthrow the syrian president. The International Olympic he is promising all cooperation with brazilian authorities a ticket scalping investigation targeting one of its top executives. Irelands Olympic Committee chief is one of 10 people charged. The openingmissed of the paralympics in rio, where police plan to interview him. Global news 24 hours a day powered by more than 2600 journalists and analysts in over 120 countries. I mark crumpton. This is bloomberg. Bloomberg west is next. I am emily chang and this is bloomberg west. Apple unveils the iphone 7 and a revamped watch. Will the operate night sales growth new lineup reignite sales growth . For 4sells to tpg billion as intel sharpens its focus on a leaner data center business. Hp enterprise
It has just gone 6 00 a. M. Let us talk about the big centralbank agenda. Bothoj and the fed starting their deliberations today. We will get the results of those biblical of those deliberations tomorrow. Itremind us if we needed that the yen has shrugged off the bojs stimulus efforts. The yen dollar rates in the white showing the yen strengthening since the january perio. The bank of japan now moving the negative rate in january. And we had the brexit vote. Showing how the japanese currency is over the whole period, gained in value. As toists are still split whether the boj will do more or not. Let us look at how we are trading. The central bank the liberations in focus. Msc i asia is up. Back in play. Topix is up. There is a discrepancy at about speculation that the boj versusurchase more topix nikkei stocks. The dollar index is fairly flat as we head towards the fed decision. The work of function showing 20 probability for september and 56 for december. The december number has edged