stance when his policies are bad for americans. we will get the reality check americans paid 50% more for their thanksgiving turkeys. and joe? all right, all right listen. aoc a message. alright, alright all right, listen, listen, okay. the clips from this week we think should be used as a big reminder. but first, president biden is arresting a possible reelection bid in 2024. his delayed response has everyone and i mean everyone talking about the real truth behind his answer, watch. the region i am not making about judgment formally running or not running the reason i make that judgment a whole series of regulations kick in. i have to treat myself as a candidate from that moment on. i have not made that formal decision but it is my intention. my intention to run again. we have time to make that decision. doctor biden is for? mr. president? or doctor biden my wife thanks that that i that we are doing coming very important. and i should not walk away from
To see any sort of intervention in the session today . Did just get more jawboning, across from the japanese finance minister and even he seems to recognize that his comments at ba you, because he has put out a statement saying he is watching fx moves with a high sense of urgency as usual. Something he has said in the past but we will watch for a more concrete action coming through the end, holding above that 150 mark. It is really a function of the yield gap between the fed and the boj. You can see the 10 year yield just coming online fairly steady but at that level you are around six times higher than the counterpart in japan. The ggp 10year at yields. A stocks wise traders are focusing in on those bond market moves. And corporate earnings. You just mentioned meta but shares sliding and you can see that after hours move their down around 4 . The warning amongst others and on the economic outlook, so not a great lead into the session today. It is not just earnings in the u. S. There a
And butter, focusing on what the Central Banks are saying. The fed minutes bringing some of the air out of the recent rally we have seen in the u. S. , higherforlonger has been the narrative from Central Banks there as well. New zealand yesterday. The bank of korea today. Take a look at some of the data processing, gdp numbers from singapore. The 2025 growth estimates being maintained between 1 and 3 permit First Quarter gdp rising hotter than expectations. The final firstquarter gdp on a quarter or quarter basis seeing a rise of 0. 1 . The estimate was for a small degree of contraction, 0. 3 . So a bit betterthanexpected numbers. As we get the cash trading session underway. Thats right, markets are just coming online this morning for japan, korea and australia. Lets look at how japan and korea are getting underway. Its a mix of what were seeing in the numbers. Broadly, we have some upside coming through. Its a few different themes we are tracking. You have a bit of Dollar Strength, th
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
Among those saying 160 is in the sand you want to be watching out for. We look for jawboning at this type time of the day but no lines yet on that. We know japanese government officials are watching these levels closely and we heard from the finance ministers of south korea and japan saying they are seeing sharing serious concerns about the weakening of their local currencies. Weaker yen is a dynamic we know have been aiding japanese exporters in particular. Today we are seeing Japanese Equities a little higher to the open. A bit of a standout because perhaps most ever most other markets could trade in the had given what we had in the u. S. Session overnight. Today we are seeing japan move higher. We just had march exports data. The numbers from japan a little better than expected. A rise of 7. 3 percent on the year better than what economists had been expecting. Lets switch on and look at what is happening in korea so far as we come online. Korea is a little bit higher. It is interest