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Bloomberg


Join Bloomberg Daybreak Asia for business and finance news centered in the Asia-Pacific region, along with insight and analysis on the day's top stories in global markets.




Bloomberg Daybreak: Asia Edition

The dollar dropped and gold gained after President Donald Trump removed Federal Reserve Governor Lisa Cook, raising concerns about the independence of the central bank. A gauge of the dollar retreated 0.3% as Cook will be removed from the position effective immediately, according to a letter Trump posted on his Truth Social account. The yen appreciated. Treasuries flipped after initially gaining on the news, sending yields on the benchmark 10-year higher by one basis point to 4.28%. Gold rose 0.5%. Asian stocks fell along with equity-index futures for US and Europe as Trump also threatened to place export curbs on chips. We get reaction from Peter McGuire, CEO at Trading.com Australia.

Meantime, stocks were already under pressure after initial optimism about the Fed lowering interest rates vanished and US stocks retreated Monday. Stocks rallied on Friday after Federal Reserve Chair Jerome Powell opened the door for a possible interest-rate cut. The sense of euphoria eased as doubts over the pace of those reductions lingered on Wall Street as traders braced for a not-so-friendly price reading later this week. We examine the path ahead for monetary policy and the markets with Mary Ann Bartels, Chief Investment Strategist at Sanctuary Wealth.

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Dollar Drops, Gold Rises as Trump Ousts Fed's Cook

Asian equities gained at the open, tracking Wall Street's rally, after Federal Reserve Chairman Jerome Powell opened the door to resuming interest rate cuts. Shares in Japan and South Korea advanced with MSCI's gauge for the region gaining 0.2%. Australian stocks hit a fresh record. Treasuries opened lower, giving up some of the gains on Friday after Powell's speech. Traders see an 84% chance of a Fed rate cut next month after Powell signaled at Jackson Hole the central bank may ease before inflation fully returns to target amid a softening jobs market. Still, officials remain split on the outlook, warning of lingering price risks from US trade tariffs ahead of this week's key inflation data. We get reaction from Matt Orton, Head of Advisory Solutions and Market Strategy at Raymond James Investment Management.

Plus - Chinese stocks will be in focus with questions mounting over how much further the market can rally with concerns of trade tariffs and a deep-rooted property crisis weighing on the economy. While the market's steady advance may suggest less risk of a sudden correction, some analysts are warning that a bubble is in the making. The Nasdaq Golden Dragon China Index rose 2.7% Friday and futures indicated a stronger open for shares in Hong Kong and mainland China. We examine the week's market outlook with Qian Wang, Chief Asia Pacific Economist at The Vanguard Group. She speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.

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Fed's Jackson Hole Shift Fuels Gains in Asia

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.
 
 • In the US – a look ahead to personal spending data and earnings from Nvidia.
 • In the UK – a look at the upcoming Medef Conference.
 • In Asia – a look at the next Bank of Korea decision and the HK IPO market.
 
 

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Daybreak Weekend: Nvidia Earnings, Medef Conference, BOK Decision

Asian equities traded within a narrow range after US stocks and bonds fell as traders pared back wagers on imminent Federal Reserve interest-rate cuts. Shares in Japan and Australia declined while South Korea advanced. Treasuries were little changed after falling across the curve in the US session, sending yields higher. The yen steadied after Japan's July core inflation came in at 3.1%, against an estimate for 3%. We look at the global inflation picture with Ian Samson, Multi Asset Portfolio Manager at Fidelity International.

Meantime, stronger US economic data and a more hawkish tone from Fed officials have led money markets to price a 70% chance of a September rate cut, down from 90% a week ago. While data showed an increase in jobless claims — adding to signs of a slowing labor market — the solid factory purchasing managers index made traders trim their rate cut bets. A gauge of manufacturing grew at the fastest pace since 2022. Attention now turns to the central bank's annual Jackson Hole symposium, where Chair Jerome Powell is scheduled to speak Friday at 10 a.m. New York time. We hear from Austan Goolsbee, President of the Federal Reserve Bank of Chicago. He speaks with Bloomberg's Michael McKee and Michael Shepard from Jackson Hole, Wyoming.

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Global Inflation in Focus Ahead of Jackson Hole; Chicago Fed's Austan Goolsbee

Asian markets looked set for a cautious open Thursday, as US stocks pulled back and bond prices climbed ahead of a key Fed gathering in Jackson Hole. The Nasdaq and S&P 500 slipped, while Treasuries rallied on tempered inflation concerns. Meanwhile, Chinese shares listed in the US bucked the trend with gains. All eyes now turn to Fed Chair Jerome Powell's upcoming remarks for clues on the September rate path. For more on the markets, we check in with Tim Pagliara, Chairman and Chief Investment Officer at CapWealth.

Plus - Hong Kong Exchanges and Clearing CEO Bonnie Chan is upbeat that the return of international investors will help sustain momentum amid a boom in listings and trading. Hong Kong's stock market has boomed this year, with its benchmark index surging and share sales posting a strong recovery as Chinese firms flock to raise capital. That in turn has boosted trading volumes, one of the main drivers of earnings for the exchange. We bring you part of Chan's conversation with Bloomberg's Yvonne Man.

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Stocks Stall on Fed Caution; HKEX CEO Bonnie Chan

Asian markets stumbled midweek as a selloff in heavyweight U.S. tech stocks spilled across global equities. Most major indexes in the region dipped, with Taiwan Semiconductor and SoftBank among the hardest hit. The MSCI Asia Pacific index fell 0.5%, and Nasdaq futures slid after their second-worst loss since April's tariff shock. Treasuries held steady, the dollar climbed for a third straight day, and oil edged higher following a volatile prior session. We examine the broader market landscape with Ritesh Ganeriwal, Head of Investment & Advisory at Syfe.

Meanwhile, attention is turning to Jackson Hole, where Fed Chair Jerome Powell will speak Friday. Traders are nearly certain a September rate cut is coming, but Powell's tone could shape the longer-term policy outlook. With July CPI showing tame goods inflation but sticky services prices, investors are looking for guidance on how aggressively the Fed may ease into 2026. We look at the prospective path of rate policy with Gene Goldman, Chief Investment Officer at Cetera Financial Group.

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Tech-Led Selloff Hits Asia as Fed Watch Intensifies

US President Donald Trump called Vladimir Putin and urged the Russian leader to begin making plans for a summit with Volodymyr Zelenskiy, after meeting the Ukrainian president and European leaders at the White House on Monday. The proposal — which Trump pitched as a one-on-one summit between Ukraine and Russia's leaders that would be followed by a trilateral gathering involving all three — represented the latest turn in the US president's push to broker an end to a conflict that has lasted over three years. We get the latest from Michelle Jamrisko, Bloomberg News White House Editor in Washington.

Oil markets were in focus following Trump and Zelenskiy's meeting in Washington, as traders weighed the potential implications for regional stability and energy flows. Crude oil held steady after Monday's gain. Meantime, Asian stocks may struggle for direction at the open after the S&P 500 closed little changed. We get market perspective from Mark Matthews, Head of Asia Research at Julius Baer. He speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.

Plus - a big week is coming up as the Federal Reserve's annual Economic Policy Symposium kicks off Thursday in Jackson Hole, Wyoming. The event in the Grand Teton mountains has been used by Fed chairs as a venue for making crucial policy announcements. Jerome Powell is expected on Friday to unveil the Fed's new policy framework — the strategy it'll use to achieve its inflation and employment goals. He may also drop some hints about the Fed's thinking ahead of its September policy meeting. We look at the potential impact of Powell's remarks later this week with Michele Martin, President at Prosperity, the wealth management arm of EisnerAmper.

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Russia-Ukraine Talks, Fed Outlook in Focus

In Japan, a stronger yen is set to emerge from this week’s gathering of central bankers in Jackson Hole after verbal intervention last week from US Treasury Secretary Scott Bessent gave the currency traction amid what is widely expected to be a dovish period for the US dollar. Governor Ueda has so far balked at preparing markets for another BOJ hike, wary of political blowback at home. But with the US Treasury Secretary now cast as the external foil, there’s still a month to prime investors for a live September meeting. For more, we speak to Bloomberg's Paul Dobson, Executive Editor for Asia Markets.

Plus - Investors will be looking to Fed Chair Jerome Powell’s remarks at Jackson Hole for confirmation that US rate cuts are coming sooner rather than later. A September move is nearly fully priced, and looser US financial conditions have been a key driver of gains for risk assets across the globe. The suspense ahead of this week’s gathering will likely keep investors cautious. We heard from Skyler Weinand, Founder and Chief Investment Officer at Regan Capital.

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Traders Await Fed Chair Powell's Speech at Jackson Hole

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.
 
 • In the US – a look ahead to housing data and retail earnings.
 • In the UK – a look at challenges facing European banking consolidation ahead of an upcoming shareholder vote in Italy.
 • In Asia – a look at Japan CPI, PMI, and trade.
 
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Daybreak Weekend: Retail Earnings, European Banking, Japan Eco

Asian shares edged higher at the open, led by Japanese equities after the country's gross domestic product beat estimates. MSCI's gauge of Asian shares rose 0.2% as the Topix Index in Japan gained 0.8%. The country's economy expanded faster than expected last quarter, avoiding a recession. Stateside, bonds held their losses after higher inflation data caused traders to pare Federal Reserve interest-rates cuts, sending two-year Treasury yields higher by six basis points to 3.73%. A gauge of the dollar was little changed after gaining 0.4% in the prior session. Risk sentiment had been buoyed in previous days by expectations of monetary easing in the US, with traders fully pricing in a quarter-point reduction. But with US wholesale inflation accelerating in July by the most in three years, traders trimmed the odds of a September rate cut to about 90% from near certainty. We get reaction from Mark Luschini, Chief Investment Strategist at Janney Montgomery Scott.

Plus - traders in Asia will also focus on China's monthly data, which will help gauge the health of the economy as it battles a US trade war and the longest deflation streak since at least the 1990s. Worries of a deepening downturn are mounting, with expectations retail sales growth and industrial production slowed in July from the month prior, according to Bloomberg surveys. We check on the state of consumption in the Asia-Pacific with Matthew Driver, Executive Vice President of Services, APAC at Mastercard.

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US Inflation Picks Up; APAC Consumption in Focus

Kevin Shimota, Author of ‘The First Superapp,’ previewed Tencent earnings. He spoke with Juliette Saly on "Bloomberg Daybreak Asia."
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Kevin Shimota on Tencent earnings (Radio)

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