For you and not a lot of time. This hour is going to fly by. Toms book is really a fantastic read and but i do think folks especially in the United States are going to find the book controversial, thats a great thing about about because if a book doesnt generate conversation, then it may not be worth reading. This is a Glass Half Full story of chinas economy and the management of the Financial System. Box offered at a time when u. S. China relations are declining and attacks from all different corners in the United States of chinas system are going. There is this argument that chinas economy, how it manages that economy is incompatible with the International System and as a result of the u. S. And others need to reduce their exposure to chinas unique risk. The book tries to answer the question, how did china managed to do it, how they managed to continue to grow without a major financial crisis. And can they keep it up . Im going to turn the floor over to tom in just a minute, he will
After pelotons 20 drop since another we look at company with its eyes on connected fitness. C. E. O. Of mirror joins the program. But first, to our top story. Ts all about the continuing escalation of the u. S. China trade war. U. S. Markets closed lower on tuesday, this is as bloomberg learned that the Trump Administration is discussing restrictions on port polio flows into china. That includes a particular focus on investments made by u. S. Government retirement funds. Joining me to discuss bloombergs stocks editor dave wilson in new york. Dave, start with just talking to that we saw selloff a little bit today. How much did china play a role in this . Dave well, they certainly played a role to the extent that if you look at Chinese Companies here in the form of american deposits and receipts, they took a hit. I mean were talking about retailer Alibaba Holding down 4 . J. D. Com down 4 . The other Search Engine 2 and we started to see how the back and forth between up u. S. And china
After pelotons 20 drop since its ipo, we look at another company with its eyes on connected fitness. The c. E. O. Of mirror joins the program. But first, to our top story. Its all about the continuing escalation of the u. S. China trade war. U. S. Markets closed lower on tuesday. This, as bloomberg learned that the Trump Administration is discussing possible restrictions on portfolio flows into china. That includes a particular focus on investments made by u. S. Government retirement funds. Joining me to discuss is bloombergs stocks editor dave wilson in new york. Dave, start with just talking to me about the selloff that we saw a little bit today. How much did china play a role in this . Dave well, they certainly played a role to the extent that if you look at Chinese Companies that trade here in the form of american depositary receipts, they took a hit. I mean were talking about online retailer Alibaba Holding down 4 . Their rival j. D. Com down 4 . The Search Engine by do, baidu, of
Tencent or alibaba to list at home in hong kong. Engle ini am stephen tokyo. Shinzo abe wins the upper house vote but failed to secure a super majority. We will have results and reaction. Kathleen Market Action into asian trading, we have to take a look at u. S. Trading first. The stock market was on its way to a modest gain, mixed results on earnings reports, microsoft with a great report, netflix not so great looking over the course of the week. Friday it was news late in the day irans revolutionary guard seized a British Oil Tanker in the strait of hormuz. As you can see at the close we had the dow jones down a quarterpoint, 68 point decline. At. 75 percent loss. It is just after 6 00 in the u. S. , so futures are looking to decline on the s p 500. Also wondering about the fed friday, the president of the st. Louis fed repeated he is in favor of a 25 basis point cut a day after John Williams seemed to be saying he was on board for a 50 basis point cut. New york had to clarify he was
Checking with equities on the cpi print really playing out in some senses. Its a bit of a core reaction to it by equities, but tech dragging the Hong Kong Market down, in particular. That is the yuan at the bottom of the screen. Trading the onshore yuan. Theres a look at chinese or should i say, Hong Kong Markets and tech as well. Yvonne its not just the yen against the dollar, we are watching most of these majors, especially when it comes to the euro. The end this weakest than stew thousand eight against the common currency. We are eyeing 145 for dollaryen right now. Joining us now is our effects and rates strategist, michael wilson, with more. We are getting close to those intervention levels now. Are we really focusing on this now . Are we likely to see anything . Michael good morning. Just above this 145 level, i would think not. I think we have to Venture North of 146, 146, 148. It would have to be done in quick fashion to get the ministry of finance hot and bothered. The way that