The pristine shores of this b. G. An island this. Is truly this is not your lead. Me. But isnt this. A chinese developer is building a large resort and casino basically tell me you know were taking your land. Feel like im living next door along. With no respect for anyone else except for money locals say the company is breaking the law and destroying their home. To this is. One of just this one i want to investigate what price the g. Is paying for its tourism development. The Crystal Clear waters of malone no island feature. Were going to design to fijis biggest resort development a development thats caused serious environmental damage last year we heard that China Developers sort of bought the land next to us and moved in Australian Navy and folks in fiji and jonah just named another see things and own the land along the Chinese Development you know when when we rocked up we went really ready john to read feel this in a little bit but along the way here at home i taught right now but
Interest rate at 5. 5 . Of course, dave, it is widely expected all 20 economists we surveyed expected as much. But the question is really whether or not governor adrian orr will sound hawkish, given that inflation is still far from where he wants it to be, which is one, two, 3 right now. We had headline inflation in the Second Quarter at about 6 . So rbnz staying pat for a second time in a row at 5. 5 . Remember, this is the central bank that has done 525 basis point hike. It has been pretty aggressive ahead of the curve, way ahead of the fed. And now it is keeping its rate standing pat at 5. 5 for a second time in a row. Dave. Yep. Yeah. So were looking at, to your point there where there is some commentary on inflation and how restrictive rates are and theyre saying already restrictive and that should be enough to return inflation to target. Were just going through some of the phrasing here on the statement because that i guess in some ways, short of hearing from the governor himself
There is the nonevent on your screen visually if that is even possible. U. S. Futures slightly higher about four points as we approach the midmorning parts of the session. Still tracking developments across Country Garden, or the lack of it, and the payments that we believe have yet to arrive on this coupon payment. Down about four. Guys, were looking after the three year bond option it is a 10 year yield coming up next. I believe it is thursday or Early Morning our time, but that is relative because we are all over the place. Yvonne overnight it was well received but when you take a look at where yields went, actually went lower despite all these auctions taking place. It is an indication of how there is trepidation in the markets. Given the china slowdown. The trade numbers yesterday was what triggered a lot of the selloff in stocks. Then you have this inflation picture. Yes it is better than expected in terms of cpi prices but overall both and contraction for the First Time Since la
11 basis points higher for your aussie 10year and we are ever so closer to hitting 5 for the u. S. Dollar yield. You are seeing a lot of the pain, the malaysian ring in the lowest since 1998. The south korean won, despite the bank saying they have to stay restrictive for some time. We are watching thailand and watching india, too. Rishaad absolutely. Having a look at what is going on in bangkok. That market just opening and having a look at what is actually happening. The index falling about. 9 at the start of the session. Looking at also the rupee in particular. Just off the day before yesterdays record low, so edging toward that as the dollar is marginally stronger. An fte futures indicating what is going on in the region and reflecting that. Not Much Movement for the but the bhat. Yvonne weaker home prices out of china. The middle east conflict weighing on markets this morning. President biden signaled his backing for israel as a vows to crush hamas, and during that 7. 5hour trip to
Claims pointing to a cooler labor Market Making a case for the reserve to cut rates this year. The asian stocks were buoyant starting the day on the front foot. What we need to keep an eye on is the u. S. China tensions looming large the markets today. Equities paring some of the surge earlier on in the session though we are seeing bonds continue their recovery. The hang seng leading the pack but even it has been paring the gains from earlier in the session and the csi 300 sinking in to negative territory. Take a look at the movers and what is behind the moves and they hong kong benchmark. We saw the dividend asia shares, your chinese construction banks, those are the ones seeking big gains against the backdrop of report that regulators are considering proposals for dividend tax waivers. A real drag in the asian side is coming through from the ev makers amid the bloomberg scoop that we could see the Biden Administration imposing fresh tariffs on chinas evs, solar equipment as well as b