I am tom mackenzie. Japan lead stocks higher in asia as the boj headlines have big we of centralbank decisions. Its negative Interest Rate policy likely to end tomorrow. Chinas factory output and investment grow more than expected showing stimulus measures are helping, but consumers remain cautious. A defiant Vladimir Putin warns russia will not be stopped from pursuing its goals after sweeping to victory in a tightly controlled president ial election. Lets check in on these markets, a solid session in asia bolstered by the gains in japan. The nikkei rallying on convictions that the yen will not strengthen that much even if a rate hike comes through. The first hike since 2007 ending the negative Interest Rate policies. The expectation from boj watchers is it is likely to happen on tuesday. European futures pointed to. 2 of 1 . S p futures pointing higher by. 5 of 1 . The number of cuts for the fed just under three. Nasdaq futures up. 5 of 1 . We are watching the apple story with bloomb
There are a lot of Different Things and the messaging we get in the presser later this afternoon is it a one and done scenario or changing of the back and setting a new course for the direction of rates . The strength of the wage negotiation has been heralded by the government and economists and caught a lot of people by surprise and the question is if it trickles down to the Smaller Enterprises but today this is what we see the japanese yen Holding Steady and we expect it to stay like that ahead of the boj decision but equities a notch under pressure so far, they were benefiting from a weaker yen and we will see if that trend continues but lots of different areas and parts of the market that could benefit from the policy shift, banks, brokerages, smallcap stocks some of the things we are tracking here. Korea is coming online. The focus a bit of weakness coming through but we will be tracking tech stocks because we had tech news overnight, tesla saying they will raise the prices of som
Dani good morning and happy friday edition of bloomberg daybreak europe. Im dani burger in london. U. S. Inflation reading, but San Francisco fed president mary daly says the bank has more work to do to combat rising prices. Country garden a penny stock after the largest Property Developer expects multi billion dollar loss for the first half of the year. Ubs has repaid the Credit Suisse liquidity assistance in full, and is voluntarily ending the 9 billion swiss franc government protection. Ubs confirming not only that they are not going to use the backstop, they are not using the safety net given to them by the swiss government. They are saving saying, take away the safety net. The first part was they have terminated the 9 billion swiss franc loss protection agreement. This was the backstop they needed to guarantee that they would acquire Credit Suisse. Second, they have terminated the public with quiddity backstop by smb, that was up to 100 billion swiss francs. The third point is the
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
Im kriti gupta in london. Tensions in the middle east ratcheting higher after hundreds are killed in a gaza City Hospital blast. Hamas and israel trade blame. President joe biden is set to arrive in the region but will no longer meet with the leaders of jordan, egypt, and the Palestinian Authority after they all pull out a vase of it. A summit. Country garden on the brink of its first default and says it is unlikely to honor offshore payments on time which will feed into concerns over chinas Economic Outlook despite betterthanexpected data. The idea that markets see different crosscurrents and china at the core of it. You are seeing the chinese trade of low volume. A quick check on futures. Risk sentiment is decidedly lower against something that will be coming off the asia session. Your stoxx 50 futures down 0. 3 . Euro stocks 50 futures down 0. 3 . You are not necessarily saying a defensive bid. Nasdaq 100 futures down 0. 2 . Asia is setting the tone for this mornings grade. Trade. T