Infection rates low in tokyo but hong kong says the situation is increasingly severe. Jack ma looks to make more headlines. He is aiming for a 200 billion valuation with between listings in hong kong and shanghai. Look at how take a we are setting up when it comes to the asian open. We have a lot of positivity carrying on from that session. Investors are backing that buy the dip trend. The nasdaq hitting the alltime high. The s p hitting positive for the year. S p active futures contracts a little bit lower at the moment but it seems like the positive. Evelopment on vaccines trading sideways if you will. The dollar was broadly weaker in g10 except for the yen. We had Dollar Strength and yen weakness overnight. That is the handle we are looking at ahead of Inflation Numbers out of japan and getting machine tool numbers as well as some Retail Sentiment numbers by way of Department Store sales. Crude and gold were both a little bit lower in the asian start to the session. Some positive de
Smartphone sales. Details about the beijing security law. Shery this is quite a reversal from the deficit we saw in the previous month. We had seen south koreas current account falling to deficit for the first time in about one year but the numbers have recovered and we are seeing a rebound with our current account surplus topping 2 million. When it comes to goods, the trade surplus coming in at 2. 5 billion for the month of may. This is quite a recovery given that we had really fallen to the lowest level since 2008. Good trade surplus numbers. A much better than expected number out of south korea when it comes to the current account surplus and also the goods trade surplus for the month of may. Lets see how markets are trading at the moment. We are seeing now nikkei futures unchanged. Same for u. S. Futures. This after we had stocks here in new york jumping following the holiday weekend. We had seen five sessions of gains for the u. S. Now unchanged at the moment. The japanese yen Hol
Counterparts to push for production curves the on june. 12 welcome to Bloomberg Markets. A caution, not surprising as we talk about the boj. Goe a look at the gmm function, you can see the mckay nikkai is consolidating. Saying,eeing the and Warning Signals on the index. You are seeing chinese equity markets continue to fall. The declines, gdp data showing Economic Growth accelerating in the First Quarter. Being helped by a cheaper one, still on the market there pessimistic. Crude it down. 5 after two days of gains. In vectors weighing expanding crude reduction against easing bloated inventory. We do have treasuries falling animation trading. Markets across asia remain a little bit mixed. It is all to do with President Trump. Expected, not much details when it comes to that tax reform plan. Anchor that is exactly right. The hypothesis worked in this case, he did telegraph he will announce something on taxes. Orchids were disappointed we did not get more details. Did,a look at how the u.
Janet yellen and 3 00, mario draghi will be addressing the group out it jackson hole. As we look forward to those meetings today, the question for the fed is where inflation has gone if it should affect their decision on raising rates. Weve heard different opinions. When i think about inflation, i think about our mandate, which is price stability. The economy is adding. I think we are in a pretty good place. We have Monetary Policy. That tells me we should gradually remove accommodations. As the outlook supports that we are moving in the right. Irection, i think we are isto high inflation dangerous, but too low is dangerous. By mike mckee. Matt. G us is iwe have these two different versions. Is this one of the dominant topics out there . Whetherople are talking the fed owls are broken. There is not a lot of the daylight. She has long been a hawk and wanted to raise Interest Rates. In her interview with me yesterday, she talked about the fact she doesnt understand why inflation hasnt be
Bulls back in their pan . Big enough tot insulate investors from the risk . We are less then 30 minutes away from the european open. Lets take a look at where futures are trading. You can see down across the board, we finished with all green arrows. Speaking atp began the close and even the u. S. Market closed positive. Even as people bought treasuries and sold the dollar. Maybe today is the day of reckoning. We will wait and watch and see what is happening. You can see them bloomberg dollar index is down overnight. The yen is up by nearly a percent. The nikkei is down by 1. 2 . A big off day there. The euro is higher. Youll get accounts from the ecb. Let me walk you over here as well. Gold reasonably well bid. Up by. 7 of 1 fitting in with the narrative surrounding what we got from trump yesterday. Front and index center at the moment. That is the trachea watching very carefully. The treasury market is feeding off that. We will wait to see if today is a day of reckoning. Interesting m