Evasion. Big numbers and equally big questions. Critics say the recordbreaking da vinci is too good to be true. Yvonne just when we thought we got over this big hurdle on tax reform in the house, clouds looming in the Trump Administration when it comes to russia. A wall street journal report just breaking special counsel Robert Muellers team last month had issued a subpoena to president Trumps Campaign requesting some of these russia related documents. We are seeing some moves in the market on the news. Betty we are. The subpoena did not compel any officials to testify before a grand jury, but it caught the campaign by surprise, and also noted that bob muellers team is expected to interview current and former white house officials, including the Communications Director hope hicks. There is certainly more to come in this story. Some of the away bullish headlines from the u. S. About tax reform. In the meantime, lets get more on that with first word news with courtney collins. Reporter t
This is daybreak australia. We are still an hour away from the start of asias major market. Betty a brandnew week, but it will be a short week. It is just after 5 00 p. M. In new york. The thanksgiving holiday break already. Last week we saw a second decline in u. S. Stock. We ended on a red note. The s p and dow off by about one or two points as well. Decline, twoek of an a row since august. It continues to dog investors. Where is the fed going to go next year . Beheadedl tax reform and will we get it done by the end of this year . These Research Notes coming through last week. You have this market, nothing seems to bother it. You have something skittish starting to build, it seems like every headline might comes to that tax reform seems to be hurting the markets as well. We get this brandnew trading week started, lets take a look at new zealand where trading is underway. At about 1 10 of 1 . Australia, coupled members speaking early this morning about financial stability. Cindy futur
The United States designates north korea a state sponsor of terrorism. Yvonne geopolitics with north korea. All Political Risk and uncertainty in germany. Markets quite resilient in the last 12 hours or so. It seems to be the case of that this will not derail the global synchronized growth. Sophie you saw the muted reaction even though it was a whipsaw in europe. Europegiant or hard in given those headlines coming out from germany. Here in the u. S. And there is uncertainty over taxes for the markets continue to rise. Aheade several more weeks until the end of the year. Lets get to the first word news with emma. Confirmedt yellen has she believed the fed once her successor is sworn in. Governor doese not end until 2024. She was said to be vice chair fore that he was chair of the San Francisco fed and chair of president clintons council of economic advisers. Yelle merkel said she would face another election rather than form a coalition. Merkel said she would rather go back to the electo
What does that mean . Hello and welcome to bloomberg daybreak asia. Im haidi lun. Betty i am betty liu at the mobile headquarters in new york. Weve got one i clearly watching what is happening in the korean peninsula. In the meantime, we are watching what is happening here in tax reform and u. S. Markets. It looks like tax or formal possibly passed by the end of the year and markets will move higher,. I want to pull up a chart that shows perhaps a little bit of a warning sign. It just shows you the valuation of snp stock versus the euro stoxx 600uro companies. You can see how the valuation so muchinues to widen, so that it has some investors saying even if stocks rally, maybe there is better value in other parts of the world, particularly europe. Maybe it is europes time to shine next year. Haidi absolutely. It is interesting, this idea of momentum and sentiment driven rally we have seen. Haveore record highs we seen overnight as we get closer to closing out the year. Usuallyet period
I am paul allen in sydney. We have some breaking news right now on south korea. We are awaiting the bok decision. Industrial output for october, down 1. 1 in industrial output month on month. Year for october, down 5. 9 . Expectations were for a continued rebound in industrial output. Not great on year, so news at all for the south korean economy, industrial output had been on the rise of wing to the export of electronics and other items. Have a bit of the damper may be countering some of the opinions that the bank will raise Interest Rates this morning. We will introduce more uncertainty in that decision. Markets seem to have priced it in. We will wait and see what happens when we do get the results of the bank of korea Board Meeting later on. Running ints up and the asiapacific. Lets take a look at new zealand. Off. 3 . The kiwi dollar little changed against the greenback. Trading just getting underway and australia. Not too many stocks online at the moment. We are seeing a little bi