THIS IS "THE ASIA TRADE --
ASIAN MARKETS SET TO REBOUND AS
EARNINGS.
FOLLOWING PRESIDENT TRUMP'S
COOK.
FIGHT AFTER COOK SUGGESTED SHE
SOURCES SAY THE ADMINISTRATION
INFLUENCE OVER THE FED'S
AND THINK OF EARNINGS SEASON IN
MAY 20 SET TO REPORT EARLIER.
MARKET VOLATILITY -- MITCH ONE
-- ME ITUAN SET TO REPORT.
BACKGROUND ABOUT THIS, WE ARE
AND ON THE NIKKEI.
THE DOLLAR UNDERPERFORMING
STRENGTH FOLLOWING THE NEWS
LISA COOK.
FROM YESTERDAY.
SEE ON U.S.
TO SEE SOME FURTHER DEVELOPMENT
OF COURSE, THE LONG END IS WHAT
WE SAW THEM EXTENDING THE SLIDE
WITH THE INFLATIONARY BACKDROP
REALLY IN SCRUTINY HERE. PAUL:
READY FOR A LEGAL FIGHT WITH
MOVED TO OUST HER FROM THE
ALLEGATIONS THAT SHE FALSIFIED
MORTGAGE DOCUMENTS.
INFRACTION, AND SHE CANNOT HAVE
ACTION BECAUSE SHE IS IN CHARGE
MORTGAGES, AND WE NEED PEOPLE
IT DOES NOT SEEM LIKE SHE WAS.
WE HAVE MORE FROM NEW YORK.
LEGAL BATTLE COULD EVENTUALLY
IMPLICATIONS. JOHN:
SUPREME COURT LISA COOK IS AS
IT IS DIFFICULT TO SAY HOW THAT
THERE ARE PRETTY GOOD ARGUMENTS
REALLY RISES TO THE LEVEL OF
FED GOVERNOR.
THE PRESIDENT DOES HAVE THE
THOUGH THERE IS NO PRECEDENT
THIS COULD DRAG ON FOR A MATTER
SUPREME COURT SUPREME COURT.
LONGER-TERM, OBVIOUSLY, THE
FED'S INDEPENDENCE IS AN
ELSEWHERE, THE PRESIDENT
WE ARE GOING TO HAVE A MAJORITY
WOULD BE A GREAT THING THAT
THAT IS OBVIOUSLY A SIGNIFICANT
POLITICIZATION OF THE FEDERAL
YOU COULD ARGUE, GIVEN THAT THE
IN THE LAST FEW YEARS, THIS
THE FACT THAT IT IS BEING DONE
FINDING WAYS TO TAKE A
THE INSTITUTION AS IT IS RATHER
POLITICAL PROCESS TO REFORM THE
ALARMING.
MAKE THE MARKETS FEEL ANY
WE ARE ALSO HEARING HOW TRUMP
WAYS TO APPOINT THE FIVE
WELL.
SOMETHING IN THAT DIRECTION?
JOHN: I THINK VERY.
THERE ARE FIVE GOVERNORS --
GOVERNORS, AND THEN THERE ARE
REGIONAL BRANCHES OF THE FED.
GETS A VOTE EVERY TIME ON THE
PREJUDICE -- REGIONAL
FIVE AT ANY ONE TIME GET A VOTE.
PRESIDENTS GET REAPPOINTED, AND
COMPLETELY NON-POLITICAL
THEIR RESPECTIVE BRANCHES, THE
VETO, SO IF THEY GET CANDIDATES
PALATABLE, ONE CAN ASSUME AT
THEM AND WE WOULD GET A
CANDIDATE THEY WERE COMFORTABLE
DESIRE. THAT IS THE INTENTION.
PRESIDENTS TEND TO BE MORE
OLD-FASHIONED ABOUT WANTING TO
FIGHT INFLATION AND LESS
THE GOVERNORS WHO SIT IN D.C.,
THE NEXT FRONT, BUT NEXT YEAR,
OPPORTUNITY FOR THE
THAT IT IS COMFORTABLE WITH.
FED INDEPENDENCE REALLY COMING
THANK YOU FOR YOUR ANALYSIS.
THIS IS COMING AFTER THE U.S.
PRESSURE ON THE FED,
ATTEMPTING TO REMOVE GOVERNOR
THE MOVES OF RISK DRIVING UP
POTENTIALLY WEIGHING ON
LET'S BRING IN MARK CRANFIELD
WE ARE ALREADY SEEING THAT PLAY
IN THE U.S.
HERE?
STEEP AT THE MOMENT, BUT IF WE
DECADES, IT COULD GO MUCH
MOMENT.
GO.
PARTLY WITH WHAT JOHN WAS
AND MONETARY POLICY OR CENTRAL
POLICY, THAT MAKES IT TOUGHER
INDEPENDENT DECISION ABOUT
USUALLY, CENTRAL BANK POLICY
USUALLY, THEY ARE LOOKING AT
THINK OF THE DATA, AND YOU KNOW
INVESTMENTS, AND IT USUALLY
PRICING FOR THE DURATION YOU
AS SOON AS FISCAL POLICY STARTS
POLITICAL SKEW TO THAT, AND IT
READ.
TRYING TO DO FOR THEIR BENEFIT
BENEFIT, AND THAT IS WHEN YOU
FROM A BOND MARKET POINT OF
VALUE YOU EXPECT, SO YOU WANT A
THE FURTHER YOU GO UP THE
COMPENSATED FOR THE RISKS YOU
WHAT YOU SEE NOW.
IN SIGHT BECAUSE THE GOVERNMENT
WANTING TO DO MORE IN TERMS OF
DO WHAT THEY WANT RATHER THAN
DATA THEY SEEK.
FOR INVESTORS.
IN TERMS OF THE DATA THEY SEE.
IN THE SHORT, DOES THE MARKET
GETS POLITICALLY PRESSURE TO
EQUITY MARKET DEFINITELY ENJOYS
INTEREST RATES COULD GET LOWER
GOING INTO NEXT YEAR.
BECAUSE IF YOU ARE AN EQUITY
ARE COMPARING IS THE POTENTIAL
YOU ARE HOLDING COMPARED TO
CLEARLY, IT IS STARTING TO WORK
PLUS, YOU HAVE THIS TREMENDOUS
NOT JUST IN THE U.S.
INVESTORS ARE STILL WILLING TO
COMPANIES -- WE HAVE NVIDIA
PRIME EXAMPLE -- COMPANIES THAT
AI TECH STORY AS IT DOES NOT
END OF THAT GAME, AND PEOPLE
INVESTED IN THAT SPACE.
WELL. THERE'S NO REASON AMERICAN
MAKE DECENT MONEY.
SHAPE AS WELL, SO THE EQUITY
SLIGHTLY BETTER PLACE AND IS
GOING ON.
BOND MARKETS, THE KIND OF THING
A FEW YEARS AGO WITH LIZ TRUSS,
BUT THAT DOES NOT SEEM TO BE A
THREAT AT THE MOMENT.
FLIPSIDE OF THIS, R EQUITY
COMPLACENT?
FUNDS ARE SHORTING THE VIX AT
2022. WHAT IS THE RISK HERE?
TREMENDOUS AMOUNT OF
WHEN THE CHANGE COMES, IT WILL
OF PEOPLE.
FIXED DOWN IS THAT INVESTORS IN
MARKET WILL GRIND SLIGHTLY
VOLATILITY THINKING NOTHING CAN
IT IS A SLIGHTLY DISTORTED
MEANS THAT SOMEWHERE, PEOPLE
BASIS THAT THEY EXPECT THE
CONTINUE TO GO A LITTLE BIT
BECAUSE WHEN YOU HAVE REVERSED
THOSE OPTIONS WILL GET MORE
SCRAMBLE, AND THAT WILL
COMING OUT OF THE MARKET.
HAPPEN IS THE TRICKY PART, AND
RELATIVELY SHORT-TERM HORIZON.
SEPTEMBER.
THEY THINK IT IS PLAIN SAILING
WE ARE ALSO WATCHING
THE GOVERNMENT ANOTHER RISK
MARK:
JAPAN. AVRIL:
FRIDAY, WE HAVE THOSE PPI
NUMBERS. MARK: WE DO.
INCLUDING THE 40-YEAR IS GOING
ALREADY, THERE'S NERVOUSNESS IN
WE HAVE A GOOD STORY ON THE
INVESTORS ARE ALREADY SELLING
BECAUSE THEY WANT TO CLEAR
CALENDAR COMING UP IN SEPTEMBER.
THEY ARE CONCERNED THE BANK OF
CLEARLY JAPANESE INVESTORS ARE
CURVE.
GETTING IN FRONT OF INFLATION.
DISCOUNT PEOPLE WILL SEE IN THE
INVESTORS WANT TO GET PLENTY OF
WILL GO HIGHER, AND THERE A LOT
OF BONDS TO BE SOLD IN
HAS ASKED FOR A BIGGER BUDGET
HIGHER FINANCING COSTS.
THE BANK OF JAPAN MAJOR STEP IN
HELP THE MARKET IN A WAY. PAUL:
FED'S INDEPENDENCE. J.P.
HIGHLIGHTS OPPORTUNITIES IN
ALSO, WE UNPACKED THE OUTLOOK
TRADE TIES WITH A FORMER KOREAN
NEGOTIATOR.
THIS CRITICAL TEST LAUNCH FOR
SPACEX. THIRD TIME'S THE CHARM.
BRINGING YOU LIVE PICTURES OF
WE HAVE MORE AHEAD.
THIS IS BLOOMBERG.
♪
EARNINGS REPORT WEDNESDAY, AND
HOW THE U.S.-CHINA RIVALRY IS
THIS CHART SHOWS THE STOCK'S
DOWN AHEAD OF RESULTS.
FRANCISCO.
FOCUS FOR INVESTORS? IAN:
REALLY CARE ABOUT IS THIS
HAVE SEEN IN AI.
THAT MASSIVE GROWTH NVIDIA HAS
YEARS?
CONCERNED ABOUT. AVRIL:
THE CHINA BUSINESS?
QUESTION MARKS ABOUT ITS
THE:
THE WATERS, IT WILL BE CHINA.
A LOT OF GOVERNMENT ACTION IF
THAT HAS HAD A SIGNIFICANT
TO DO BUSINESS IN WHAT IS THE
SEMICONDUCTORS, AND YOU HAVE
WE DON'T KNOW HOW TO PUT ANY
WE NEED THE COMPANY TO HELP US
OUT. WHAT WE HAVE SEEN FROM THE
STRUGGLING AS WELL BECAUSE AS
AND THEY CAN BE IN A MATTER OF
GOVERNMENT, YOU ARE LOOKING AT
MONTHS TO MAKE A TRIP, TO RAMP
A LOT OF MISMATCHES GOING ON
AND A LOT OF CONFUSION. PAUL:
THERE'S ALWAYS SKY HIGH
HOW DOES NVIDIA DO WITH ITS
MEETING THOSE NUMBERS? IAN:
INFORMATION FROM INVESTORS IS
THEM TO BEAT.
BLOWING PAST THESE NUMBERS.
THAT IN A COURT OR LEVEL, THEY
YEARS AGO.
NUMERICAL LEVEL THIS IS
WHERE INVESTORS ARE AND THEY
BY 1% OR 2%.
WANT THEM TO BEAT BY MILLIONS
OF DOLLARS ABOVE EXPECTATIONS.
WEIGH IN ON NVIDIA'S SUPPLIERS.
IN YOUR AREA OF THE WORLD, TSMC
TO NVIDIA.
TSMC IS A CHEAP OUTSOURCED
WE SAW TSMC SAY EVERYTHING IS
NOW WE WANT NVIDIA TO CONFIRM
THAT WILL KEEP THINGS ROLLING
THANK YOU SO MUCH.
FRONT AND CENTER WHEN IT COMES
GEOPOLITICAL BACKDROP.
HEARING ON THE TARIFF FRONT,
IS SET TO IMPLEMENT A 50%
WEDNESDAY, A MOVE NEW DELHI HAS
MARK ANOTHER DEVELOPMENT IN
RECALIBRATE DOUBLE TRADE.
WE HAVE INDIA POTENTIALLY
TARIFFS.
VISIT WITH A POSITIVE TONE AND
THEN WE HAVE THE CHINESE TRADE
POTENTIALLY.
STATE OF PLAY AS THINGS STAND?
HUGE AMOUNT GOING ON IN U.S.
TRADE NEGOTIATIONS.
INDIA GETTING WHACKED WITH 50%
AWAY FROM THE SUMMIT MEETING
PURCHASES FROM THE U.S.
I THINK SOME IMPORTANT
COUNTRIES -- CHINA VIEWS ITSELF
UNITED STATES.
GREAT POWER.
TO BE PUSHED AROUND, AND BOTH
CONSIDERABLY HIGHER TARIFFS
FACE.
FIRSTLY, THE ECONOMY HUGELY
SECONDLY, NATIONAL SECURITY
MILITARY PRESENCE TO STAVE OFF
SEOUL VERY MUCH TAKING THE PATH
OF LEAST RESISTANCE.
ACROSS KOREA, INDIA, CHINA, AND
ARE SEEING, THE U.S., WHICH FOR
MARKET, OPEN FOR BUSINESS
PAY FOR PLAY ECONOMY.
U.S., YOU ARE PAYING TARIFFS,
AGREEING TO BILLION-DOLLAR
THAT IS A BIG SHIFT IN THE U.S.
OF THE GLOBAL ECONOMY. PAUL:
TENSION EMERGING BETWEEN THE EU
AS WELL AROUND TECH REGULATION.
WHAT IS DRIVING? TOM:
HAVE DIFFERENT INCENTIVES AND
THE U.S.
IS HOME TO THE WORLD'S TECH
META.
FREE MARKET PRINCIPLES.
EVERYONE WILL BE BETTER OFF.
CREATE ANY OF ITS OWN TECH
PERHAPS NOT UNRELATED TO THAT,
THE DEBATE, SO THE FOCUS IN
OF THE HARMS WE SEE COMING FROM
FROM THE MONOPOLY POSITION SOME
WHAT HAS CHANGED UNDER THE
GREATER WILLINGNESS FROM THE
WHAT WE ARE HEARING IS
SAYING, SURE, YOU GO AHEAD AND
COMPANIES -- U.S.
THAT, YOU CAN EXPECT
YOU CAN EXPECT TO BE FACING
COMPANIES WHEN THEY SELL INTO
AMONG U.S.
IN THE SPOTLIGHT RECENTLY,
TO TAKE A STAKE.
COMMERCE SECRETARY HAS HINTED
DEFENSE FIRMS. HOW BIG SHIFT
WOULD THIS BE? TOM:
DIFFERENCE BETWEEN THE KIND OF
POLICY POSITION AND THE OFFHAND
WE WILL SEE HOW THIS PLAYS OUT.
HAS TAKEN A 10% STAKE IN INTEL,
SECRETARY LUTNICK PRINTING
THE CARDS FOR DEFENSE COMPANIES.
CASE FOR A GOVERNMENT STATE IN
COMPANIES LIKE LOCKHEED MARTIN,
A HUGE SHARE OF THEIR REVENUE
YOU CAN MAKE A CASE THAT THE
THAT IT IS BEING SPENT
OF COURSE, NATIONAL SECURITY IS
TRANSCENDS COMMERCIAL INTERESTS.
CASE FOR A GOVERNMENT OWNERSHIP
AT THE SAME TIME, I THINK IT
THAT ON INTEL AND ON DEFENSE
THINGS GO, THIS WILL BE A
U.S.
MILTON FRIEDMAN TO KARL MARX AS
ECONOMIC POLICY?
GOVERNMENT OWNERSHIP STAKES IN
IMPORTANT PART YOUR. PAUL:
ECONOMICS.
TRADE." THIS IS BLOOMBERG.
YOU ARE WATCHING "THE ASIA
THE FRENCH PRIME MINISTER IS
PARTIES UNITE AGAINST HIM.
LEFTIST, AND SOCIALIST PARTY
HIM, POTENTIALLY FORCING HIS
MARKETS ARE ALREADY REACTING
BOND SPREADS WIDENING,
THE COUNTRY'S RISING DEBT.
EXPELLED IRAN'S AMBASSADOR
TO ANTI-SEMITIC ATTACKS.
ACTS DANGEROUS AGGRESSION BY
THE ENVOY HAS SEVEN DAYS TO
SUSPENDED OPERATIONS IN TEHRAN.
BASELESS AND HAS VOWED TO
PRESIDENT SAYS CHINA'S XI
DAY GREETINGS, THE FIRST KNOWN
YEARS .
BEFORE VLADIMIR PUTIN TRAVELS
TO BEIJING FOR A MAJOR SUMMIT.
STARBASE IN BOCA CHICA, TEXAS.
FLYING MACHINE EVER BUILT.
LINEUP FOR ITS 10TH TEST FLIGHT
ATTEMPT AFTER TWO EARLIER
ATTEMPTS THIS WEEK.
CHARM FOR THE LAUNCH OF THE
IT IS HARD TO UNDERSTATE THE
THIS THING.
THAT IS 403 FEET BIGGER AND
THAT TOOK ASTRONAUTS TO THE
WE ARE COUNTING DOWN.
HARD TO OVERSTATE AS WELL THE
SPACEX'S AMBITIONS,
POTENTIALLY ONE DAY SOMEHOW
WORTH NOTING THAT EARLIER IN
LIQUID OXYGEN LEAK THAT NEEDED
AS YOU SAY, POTENTIALLY THIRD
THIS IS THE 10TH TEST FLIGHT.
FLIGHTS THIS YEAR THAT BLEW UP
ACTUALLY SPUN OUT OF CONTROL,
THE WEATHER LOOKS PRETTY FINE.
LIFTOFF. TAKE A LISTEN.
>> 3, 2, 1. WE HAVE LIFTOFF.
NOMINAL.
OVER 40 SECONDS INTO FLIGHT.
SYSTEMS ON THE BOOSTER AS THE
STARS TO PITCH OVER AT THE GULF.
IMAGES.
SUCCESSFULLY CLEARING THE PATH
THAT ROCKET HAS TWICE THE
ROCKET THAT TOOK ASTRONAUTS TO
1960'S AND EARLY 1970'S.
ENGINES LIT, SO EVERYTHING
MOMENT, BUT THERE WERE A FEW
FLIGHTS, WHICH ALL ENDED IN
THE FLIGHTS BEFORE DID SHOW
WITH THE GIANT ROOSTER BEING
THOSE GIANT MECHANICAL ARMS
WE ARE NOT GOING TO SEE THAT
THE PLAN TODAY IS TO RUN A
AFTER THAT SEPARATES, AND THAT
WILL SPLASHDOWN IN THE OCEAN.
SATELLITES THROUGH WHAT IS
DOOR, AND THEN ANOTHER NUMBER
WELL BEFORE THAT SECTION, TOO,
SPLASHES DOWN IN THE OCEAN.
THE TECHNICAL ASPECTS OF THE
ROCKET.
STARSHIP'S UPPER PORTION AND
CENTERPIECE OF SPACEX'S
AMBITIONS TO PUT HUGE NUMBERS
SATELLITES INTO EARTH'S ORBIT
HUMANS TO THE MOON AND
NOW THAT WE HAVE NOT, THIS
JUST OVER AN HOUR, AND IT IS
SPACECRAFT PERFORMING A
INDIAN OCEAN, AND OF COURSE, WE
COMPANY HAS REALLY USED THESE
OPPORTUNITIES THAT IT CAN APPLY
WE ALSO SAW HOW ELON MUSK TOOK
ENGINEERS FROM THE FALCON 9
PROJECT THAT WE ARE SEEING, A
THE MOMENT. PAUL:
EVERYTHING GOING TO PLAN AT THE
THERE, SO THE LOWER SECTION
EARTH, BUT AS I MENTIONED,
CATCH ATTEMPT TODAY.
A SERIES OF TESTS.
ON ITS WAY FOR SOME TIME.
HAS RESPONDED TO THOSE RECENT
OFTEN ELON MUSK'S SOLUTION TO
PEOPLE AT IT.
THAT HAVE BEEN WORKING ON
STARSHIP FOR SIX MONTHS AFTER
SOME OF THE PROBLEMS. PEOPLE
SPACEX SAY THEY MAY SEE SOME
9 ROCKET PUSHED.
MOST OF THOSE STARLINK
FOR GETTING ASTRONAUTS TO AND
STATION, SO THERE MIGHT A BIT
FALCON 9 LAUNCHERS, BUT SPACEX
CAPACITY -- OVER ITS
DOES HAD THE CAPACITY TO DO
TO COME, BUT IN TERMS OF
ROLES. RAPID ITERATION AND RAPID
FAILURE.
AFRAID TO MAKE MISTAKES. AVRIL:
MUSK'S SOLUTION TO THE PROBLEM
RESOURCES INTO THIS, IT IS
OF THE WORLD'S MOST VALUABLE
AS WELL AT HOW THE ENGINES
SEPARATION, AND THE SUPER HEAVY
SPLASHDOWN.
STARSHIP WILL ATTEMPT TO DEPLOY
SIMILAR IN SIZE AND WEIGHT TO
SATELLITES THAT THE COMPANY
MAYBE WE SEE ONCE AGAIN IT
PERFORMING SOME EXPERIMENTS
TILES.
SPACECRAFT FROM OVERHEATING
ATMOSPHERE, SO WE WILL BE
SPLASHDOWN THAT IS HUGELY
ANTICIPATED. PAUL:
BOOSTER MAKING ITS WAY BACK
A NUMBER OF THOSE RAPTOR
THIS WILL BE A CONTROLLED
OCEAN.
SETBACKS, YOU SEE THE HEADLINE
EVERYTHING LOOKING GOOD TODAY
IT SLOWS DESCENT.
WHEN SOMETHING EXPLODES OR
YOU CAN SEE THE OCEAN NOW.
BUT THIS IS VERY MUCH HOW
I HAVE, OF COURSE, THE FACTORY
IS CRANKING OUT ENGINES AND
THIS IS VERSION TWO OF THE
VERSION THREE IS ALREADY IN THE
THE RAPTOR THREE ENGINE HAS NOT
THAT WILL HAVE EVEN MORE THRUST
RAPTOR TWO.
WATCH THE PROGRESS OF THE UPPER
MORE AHEAD ON "THE ASIA TRADE."
LET'S LOOK AT HOW GLOBAL BONDS
THE PRESSURE WAS NOT JUST ON
30-YEAR'S OVERNIGHT EXTENDED
WE ARE ALSO SEEING CONCERNS
FROM PLACES SUCH AS FRANCE AND
WE ARE SEEING THE 10-YEAR IN
HIGHER, BUT AS ANALYSTS HAVE
TO WATCH OUT FOR.
THE END OF THE WEEK.
THE BACKDROP OF CONCERNS ABOUT
THE TRUMP ADMINISTRATION HAS
GREATER INFLUENCE OVER THE
POTENTIALLY EXTENDING BEYOND
WASHINGTON.
ECONOMIST AT ROBINSON STEPHENS.
FEDERAL RESERVE POLITICALLY,
RISK THAT ALL THIS MAY STOKE
HIGHER, LONGER END RATES?
PIECE OF DATA AT THE END OF THE
THIS IS THE PERSONAL
FROM JULY -- IF THOSE NUMBERS
TRACKING, WHICH IS ABOUT 2.70
FED WILL BE ABLE TO CONTINUE TO
PROTECTING EMPLOYMENT GROWTH IN
MAKE SOME OF THIS INTERESTING
GO A BIT AWAY.
THE OTHER ISSUE IS ALL EYES ON
BOND MARKET WILL SAY ABOUT THIS
IT IS A LITTLE TOO SOON, I
THERE'S PROBABLY SOME
IS A LOT OF RHETORIC AT THIS
ACTUALLY IS PROPOSED TO HAPPEN.
THE LAST WEEK OF SUMMER
A LOT OF PEOPLE ARE AWAY, SO IT
THINK THINGS WILL HEAT UP AS WE
WEEKEND THIS ONGOING DISCUSSION
THE FED AND THE WHITE HOUSE
PLAYS OUT. AVRIL:
HIGHER LONGER-TERM RATES COULD
BECAUSE OF WHAT THIS MEANS FOR
THERE ARE SO MANY IMPLICATIONS
HERE.
IMPLICATIONS.
FOCUSED ON OTHER THINGS,
ESPECIALLY DOMESTICALLY IN THE
EMPLOYMENT TRENDS.
WEEK EMPLOYMENT NUMBERS FOR
LOOKING AT THAT AND LOOKING AT
RECENTLY, THE STOCK MARKET HAS
MOSTLY FINE, REFLECTING THE
WITH SOME SLOWDOWN IN SOME
2%, 2.5% FOR THE THIRD QUARTER,
BE GOOD, BUT THE BOND MARKET IS
ABOUT WHAT IS HAPPENING WITH
SOME OF THE HEAT HAS BEEN TAKEN
FROM THE CONGRESSIONAL BUDGET
REVENUES OVER THE NEXT 10 YEARS
IMPACT ON THE NATIONAL DEBT AND
THAT WAS ABSORBED AS GOOD NEWS
BY BOND MARKETS.
INDEPENDENCE WORKING THE OTHER
IT IS A LITTLE TOO SOON TO TELL
AS WE KNOW, BOND MARKETS CAN GO
SURPRISINGLY. PAUL:
BACKDOWN FROM PRESIDENT TRUMP
IN THE PAST, MOST RECENTLY OVER
THIS HAPPENING AGAIN WHEN IT
AS YOU SAY, IT SEEMS TO BE
THE MOMENT.
THE PHRASE BACKDOWN IS NOT IN
THEY ARE VERY SENSITIVE ABOUT
OF THOUGHT PLAYS THROUGH, I
TO DIG IN THEIR HEELS.
ARE VERY WISE VOICES IN THE
ADVISE, YOU HAVE TO PAY
CAREFUL.
CRITICAL TO THE ONGOING HEALTH
WE HAVE A BIG PIECE OF DATA
THE FED'S PREFERRED INFLATION
LITTLE BIT.
INDEPENDENCE, WHAT IS THE STORY
WHAT DO YOU EXPECT FROM THAT
THE NEXT DECISION?
OF PICKUP IN CERTAIN SECTORS.
AGAINST THOSE INCREASES,
OUT OF THE HOUSING MARKET IN
WAY THEY COME INTO THE
OTHER WAY.
KEEP IT AT 2.75%, SOMEWHERE IN
NUMBER.
EVEN THOUGH THAT IS A LONG WAYS
BE A GOOD NUMBER FOR THE FED
GOING INTO ITS MEETINGS IN
IF IT COMES IN MUCH HIGHER THAN
THAT, IT WILL BE A VERY WILD
BE FED TO?
ARE GETTING RIGHT NOW ON
WE WILL SEE IF THAT PLAYS OUT
WHAT IS YOUR SENSE OF THE
STILL TRYING TO GET INFLATION
THE NEUTRAL READ IN ALL THIS?
MY SENSE OF WHAT THE FED FEELS
FED TELLS ME THEY FEEL ABOUT 2%.
THEY HAVE NOT WAVERED FROM
ACTIONS THEY TAKE IN SEPTEMBER
THEY COULD CUT RATES IN
MAINTAINING WHAT WOULD BE
RESTRICTIVE POLICY.
RATE , THIS IS POSSIBLY THE
BECAUSE NOBODY DIRECTLY
AS CHAIRMAN POWELL HAS SAID,
MAYBE WE ARE VERY CLOSE TO THE
THAT THE ECONOMY HAS STILL BEEN
IT IS THE JOBS NUMBERS THAT
RECENTLY, AND THAT IS WHY
AT THE END OF THIS WEEK WILL BE
EMPLOYMENT IN AUGUST THAT COME
REALLY THE BIG NUMBERS BECAUSE
THEN THE FED WILL HAVE MAYBE A
IF THEY CONTINUE TO SHOW A
WILL PROBABLY HAVE TO ACT.
THANKS SO MUCH FOR JOINING US
COUNT DOWN TO THAT PCE DEFLATED
LET'S GET YOU BACK TO OUTER
YOU ARE SEEING THE INTERIOR OF
WHICH IS ALSO CONFUSINGLY KNOWN
WHAT YOU SEE IS A PAYLOAD OF
ONE OF THE KEY MILESTONES FOR
PREVIOUS TEST, WE HAVE SEEN
PAYLOAD DOOR, BUT THE LAST
DOOR EITHER JAMMED OR FAILED TO
MILESTONE.
KNOWN COLLOQUIALLY AS THE PEZ
SATELLITES.
POTENTIALLY A GAME CHANGER FOR
AT THE MOMENT, SPACEX RELIES ON
DEPLOYMENT.
VERSION TWO SATELLITES, A
THE VERSION THREE SATELLITES
LARGER AND HEAVIER, BUT THIS
CAPABILITY.
POTENTIALLY LAUNCH UP TO 60 OF
SATELLITES PER FLIGHT, WHICH
WOULD GREATLY INCREASE THE
TO DEPLOY. AVRIL:
DEPLOY DEMO BEING COMPLETED, OF
A CHOPPY FEED OUT OF THE
ALLUDING TO, IN ITS MOST RECENT
STARSHIP'S PAYLOAD BAY DOOR
TRAPPED THE DUMMY SATELLITES IT
VEHICLE, SO WE DO SEEM TO SEE
PERHAPS SOME FORESHADOWING OF A
THIS DOOR BEING ABLE TO BE
THAT IS WHAT IS HAPPENING.
DUMMY SATELLITES ARE BEING
WE SAW A CUTAWAY SHOT A MOMENT
SPACEX CELEBRATING, SO A MAJOR
MILESTONE TICKED OFF HERE.
THOSE DUMMY SATELLITES, SO
SATELLITES HAVE BEEN
LET'S LISTEN IN.
REHEARSAL FOR WHEN WE WILL BE
AND THESE ARE A MASSIVE
INCREASE TO STARLINK'S
PER SECOND OF CAPACITY THAT
PER LAUNCH.
WE ARE ADDING WITH EVERY SINGLE
STEP INCREASE IN CAPABILITY.
[CHEERS AND APPLAUSE]
HAVE EIGHT TOTAL THAT WE ARE
IT IS ABOUT A MINUTE FOR EACH
ONE. [CHEERS AND APPLAUSE]
>> STARLINK! STARLINK! STARLINK!
HQ IN BOCA CHICA.
BEING TICKED OFF, THE
SATELLITES FROM STARSHIP.
THIS COULD BE A GAME CHANGER
IT WILL MASSIVELY INCREASE BOTH
THE STARLINK SATELLITES THAT
SO FAR, TEST LIKE 10 LOOKED
LIKE A MAJOR SUCCESS. AVRIL:
SPACEX AND I THINK SPACE
AMBITIONS IN GENERAL OUT OF THE
DEVELOPMENTS IN THE CORPORATE
BLOOMBERG HAS LEARNED THAT THE
EXPLORING A POTENTIAL DEAL TO
AROUND 20%.
BLOOMBERG'S TEXT EDITOR.
BREAK THIS DOWN FOR US.
BEYOND GLASSES.
PARTNER IN EYEWEAR COME BUT
OPTICAL TECHNOLOGY THAT IS
BUT FOR CAMERAS.
HELP THEM INNOVATE AND PUSH THE
EXPERTS MY GLASSES WHILE GIVING
HAS BECOME REALLY CENTRAL TO
THIS IS NOT JUST ABOUT
IT IS ABOUT TRYING TO TAP
STRETCHES FROM CAMERAS TO
REALLY KEY, DEEP TECH. PAUL:
AROUND THE DEAL, ISN'T THERE,
TECHNOLOGY INVOLVED.
CAN YOU TELL US ABOUT THAT?
MOST OF US KNOW NIKON AS A
LITHOGRAPHY MACHINES THAT HELP
ARE IN THE GLOBAL SPOTLIGHT
THE DEFENSE TECHNOLOGY AND
IT IS ONE OF THE THREE
MAKE THESE LITHOGRAPHY
THE LIKES OF INTEL AND TSMC,
ASML IN THIS SECTOR.
INVESTMENT IS GOING TO REQUIRE
AND ECONOMY MINISTERS.
MITSUBISHI CAPITAL GROUP.
THIS IS GOING TO RAISE EYEBROWS.
SENSITIVE POLITICALLY AS WELL.
WE WILL BE TRACKING THE MARKETS
TOKYO NEXT. THIS IS BLOOMBERG.
WE ARE COMING DOWN TO ASIA'S
IT'S REALLY THE SCRUTINY AND
HAS BEEN FACING.
DRAWN OUT LEGAL BATTLE.
THIS COULD CAUSE PRESSURE ON
THE FED GOVERNOR SAYING SHE'S
FIGHT BACK.
A LENGTHY LEGAL BATTLE HERE.
APART FROM THE LONGER END OF
IS NORMAL. AVRIL: YEAH.
THIS DOVISH TILT AND THAT SEEMS
END OF THE TREASURY'S CURVE.
OPEN IN JAPAN.
EARNINGS. AFTER THE U.S.
SEEING FLAT ON THE JAPANESE
WORTH NOTING THAT THE U.S.
WAS FAIRLY MUTED, IT DID
G 10. INTERESTINGLY, AFTER THAT
JUST A DAY AGO, ONCE NEWS HIT
LISA COOK, THAT'S MOVING HIGHER
NOW. THAT REVERSAL IS APPARENT.
JAPAN AS WELL THAT MOVING
UPWARDS.
INFLATION GAUGE THAT THE FED
JAPAN CPI NUMBERS. TAKE A LOOK.
APPETITE.
PRESIDENT MEETING IN THE U.S..
A DEALS BONANZA AS WELL.
INVESTORS , CONCERNS AROUND THE
THAT MEANT SOUTH KOREAN GAUGES
WERE LOWER JUST A DAY AGO.
JUST OPEN FOR TRADE HERE IN
I GUESS, 1/5 OF 1%.
HAMMERED AT THE MOMENT.
OFF BY MORE THAN 10% AT THE
NEVER MIND RESULTS COMING IN
PRETTY MUCH IN LINE WITH
THE OTHER STOP MOVING IS
WAS WORSE A SECOND AGO.
FULL YEAR OF JUST $3.7 MILLION.
YEAR EARLIER.
A BIT STRONGER.
MENTIONING EARLIER ON WHAT'S
WE DID SEE TWO AND FIVE YEAR
SESSION.
AT THE SHORT END OF THE CURVE.
SHORTER DURATION, DIFFERENT
30 YEAR YIELDS LIFTING.
ALL BECAUSE OF THESE CONCERNS
FOR MORE ON THAT, LET'S GET TO
THANK YOU SO MUCH FOR JOINING
IT'S AN INTERESTING PICTURE AT
EQUITIES CONTINUING TO RALLY,
WAS MOVING HIGHER.
YIELDS ARE DROPPING THERE.
IS THE MEDIA MORE WORRIED ABOUT
>> GOOD MORNING.
THE MARKET AT THE MOMENT.
BEING SUPPORTED BY THE EARNINGS
YOU ARE SEEING A ROBUST ECONOMY
AT THE SAME TIME, IT'S HARD TO
THAT'S GOING TO COLLAPSE
TRIGGER. IT'S A TILL RISK.
HOW DO YOU PRICES AND IN TERMS
THERE WILL POTENTIALLY BE A
SO IT'S HARD TO GAUGE WHAT THE
SMALL MOVES IN THE DOLLAR IN
AND ALSO IN THE LONG END OF THE
HERE AND NOW, THE IMPLICATIONS
ECONOMIC POLICY IN TERMS OF
FEDERAL RESERVE.
PAUL: YEAH.
THERE ARE OTHER FISH TO FRY.
MIDDLE OF NEXT MONTH, THE FED
WHAT'S YOUR EXPECTATION AROUND
WHAT'S THE BIGGER CONCERN FOR
INFLATION OR THE JOBS PICTURE?
DEMAND OUT -- DUAL MANDATE THEY
ARE THINKING ABOUT. 4.2%.
THEY HAVE FULL EMPLOYMENT
TICKED OFF.
PCE NUMBER IS GOING TO MOVE
COURSE OF THIS WEEK.
TARGET IS FURTHER FROM THEIR
TARGET THAN UNEMPLOYMENT RATE.
CONCERNED AROUND THE SOFTNESS
SUPPORT GROWTH IN THIS
I DON'T THINK A RATE CUT WILL
OUTLOOK INITIALLY.
A LITTLE BIT MORE INFLATION AS
INDEPENDENCE. HE WILL
HE WILL LIKELY SEE THE MARKETS
FOR MORE INFLATION IN THE
RATE CUTS COMING THROUGH OVER
HOW MUCH FURTHER CURB SICKENING
HOW IS THE BEST WAY TO POSITION?
60 BASIS POINTS BETWEEN THE
QUITE SIGNIFICANTLY STEEPER
WE WOULD BE ARGUING THAT THERE
EASING FROM THE FEDERAL RESERVE.
END OF THE CURVE.
GOING TO HAVE SOME MORE
BUILT IN OR AT LEAST INFLATION
VOLATILITY.
A POPULAR WAY TO PLAY THE
WE DO THINK THAT HAVING A BIT
A BAD THING.
RECESSION HAPPENING.
AVERAGE.
GIVEN THE MOVEMENT IN THE LONG
WE HAVE SEEN.
THINK ABOUT WHERE YOU WANT TO
DURATION.
YIELD CURVE OVER TIME. AVRIL:
TO NVIDIA EARNINGS.
HIGHER AT THE MOMENT.
WE HAVE THE TARIFF BACKDROP AS
THE RATE.
MEETING IN THE U.S.
BONANZA.
KOREAN COMPANIES AND THEIR
HOW ARE YOU PLAYING SOUTH KOREA?
TO TAIWAN.
WE ARE FAVORABLE WITH NORTH
THEY HAVE DONE VERY WELL THIS
PERFORMANCE.
VALUATIONS HAVE MOVED UP A
TO GO.
GO INTO THE U.S.
FROM SOME OF THESE COMPANIES.
PROMINENT.
BENEFICIARIES OF IT, CHINA OR
COUPLE OF COMPANIES THAT ARE
DRIVING THAT DECISION.
THOSE COUNTRIES.
REALLY DRIVING THE DECISION
IN TERMS OF RELATIVE
JUST THINKING ABOUT THE COUNTRY.
WE'VE SEEN A STRONG RUN UP
PRETTY STRONG RALLY IN GENERAL
EQUITIES.
DO YOU FEEL THERE'S A RISK OF
THE FUNDAMENTALS LOOK GOOD TO
ARGUMENT EARLIER IN THE YEAR.
RELATIVELY WELL PRICED.
CHARACTERISTIC TO THE ONSHORE
CORRELATION THEY HAVE TO U.S.
BUILDING A DIVERSIFICATION OF
TAKE -- THINKING ABOUT THE TEXT
THEME.
WE SEE THAT AS BEING MORE
IT'S DISCONNECTED FROM THE
SOFTNESS IN THE ECONOMIC DATA
FISCAL SUPPORT COMING THROUGH
THERE IS STILL ROOM TO GO INTO
IT BECOMES ACTIVE, GIVEN THE
WE ARE SEEING A SPLIT BETWEEN
WHERE IT'S THE OFFSHORE MARKET
THESE TECH THINGS BEING MORE
THE ENTRE MARKET IS MORE ABOUT
THERE'S DIFFERENT WAYS TO PLAY
LOOKING FOR IN TERMS OF GROWTH
IT'S A MARKET THAT WE CONTINUE
CAN FIND VALUE AROUND THE WORLD
PERFORMANCE. PAUL:
THE MOMENT?
THAT? KERRY:
FRAMING HOW INVESTORS ARE
OF UNCOMFORTABLY TOLERANT OF
MARKETS HAVE RUN PRETTY HARD
APRIL.
SOFTER ECONOMIC DATA THAT'S
THE POLITICAL RISK THAT IS
FUNDAMENTALLY WE SEE A GLOBAL
THAT'S IMPROVING.
SO WE THINK ABOUT DURATION IN
GROWTH SHOCK IN THE PORTFOLIO,
THE CREDIT SPACE IN TERMS OF
ARE GETTING ON THAT.
INFLATION, THAT REALLY DOES
ALTERNATIVES AND REAL ASSET
TO THE ECONOMY AND INBUILT
THINK ABOUT A BROADER
WITHIN A PORTFOLIO TO REALLY
ARE OUT THERE IN THE GLOBAL
ECONOMY. PAUL: ALL RIGHT.
FOR JOINING US WITH YOUR VIEWS.
THAT ARE MOVING HERE IN
EARNINGS CONTINUE TO ROLL IN.
OF THESE.
THEIR AFTER POSTING A FULL-YEAR
A YEAR EARLIER.
BIG GROCERY TRAINS -- CHANGE IN
11% NOW AFTER A PROFIT MS.
THERE. WEISS TECH OFF 14%.
BECAUSE IT LIFTED ITS DIVIDEND.
YET SHARES LOWERED BY 50% AT
WE WILL WAIT FOR MORE
MOVE.
WE ARE SEEING A POSITIVE STORY
ADVANCED 12%, BY THE MOST
PAIRING THOSE GAINS NOW.
QUADRUPLING.
BLOOMBERG THAT EXELON EXOTICA
AS WE'VE HEARD FROM SOME OF OUR
SENSITIVITIES AROUND THESE
WE ARE SEEING THAT GREEN AND
THAT SORT OF OUTPERFORMANCE.
ASIA TRADE. THIS IS BLOOMBERG. ♪
PEOPLE FOR THAT POSITION AND WE
PEOPLE.
MIND, I HAVE SOMEBODY THAT I
I DEAL WITH SCOTT AND HOWARD
OF PEOPLE THAT WILL BE INVOLVED
IT'S A VERY IMPORTANT DECISION.
PRESIDENT TRUMP AFTER HE WAS
REPLACEMENT FOR LISA COOK
FROM THE CENTRAL BANK.
OPTIONS TO EXERT MORE INFLUENCE
JILL THESIS JOINS US NOW WITH
IDEA?
IF IT WERE CARRIED OUT? JILL:
FAMILIAR WITH THE MATTER, WHAT
ESSENTIALLY THAT THE TRUMP
LOOK ARE WAYS THAT THEY CAN
INFLUENCE.
COOK SITUATION HERE ON THE
WHAT TRUMP, IF HE IS SUCCESSFUL
EXPECT THAT TO LEAD TO A
THAT WOULD GIVE HIM FOUR OUT OF
LEVEL.
12 REGIONAL BANK OFFICIALS,
ON A ROTATING BASIS, THE IDEA
AND HOW THE TRUMP
THOSE WAYS THAT IT CAN
OVER THE FEDERAL RESERVE IN ITS
WE SAW THIS BEGIN LAST YEAR.
PRIOR TO THAT EVENT.
FILING -- FIRING POWELL.
THE TRUMP ADMINISTRATION IS
DO IN TERMS OF TRYING TO GET
WITH MAKING INTEREST-RATE
POLICY. AVRIL:
BATTLE POTENTIALLY THAT WE
COOK? JILL:
BOTH TRUMP AND COOK.
INTENDS TO FIGHT THIS.
A LEGAL BATTLE HERE.
SITUATION IN THE GRAND SCHEME
WE DID HEAR FROM THE FED WHICH
COURT DECISION ULTIMATELY MADE.
ESSENTIALLY ARGUING.
TO BE REMOVED FROM OFFICE AND
FROM COOKS SIDE, SHE IS SAYING
AUTHORITY TO DO THAT.
IN COURT.
THAT IT COULD BE COOK EARNS
WHILE THIS IS WORKING THROUGH
ENABLE HER TO CONTINUE SITTING
IN ON POLICY.
SIDES HERE THAT DON'T SEEM TO
FIGHT AND IT IS SOMETHING THAT
A LENGTHY COURT BATTLE AND
PRESIDENT HERE. PAUL:
REMOVE COOK, WHAT ARE THE
POLICY SHIFT?
JILL: THAT'S RIGHT.
GOT OTHER TRUMP APPOINTEES, OR
FAVORED MORE IMMEDIATE CHANGE
CHRISTOPHER WALLER FOR EXAMPLE,
JACKSON HOLE A FEW DAYS AGO
BANKERS WEIGHING IN ON THE
THAT'S THE THRUST OF THIS HERE.
MORE POWER AND INFLUENCE OVER
DOES THAT MEAN SOMETHING
FED INDEPENDENCE?
WITH OTHER APPOINTEES, PEOPLE
YOU CAN'T EXPECT SOMEBODY TO
AND BE A SYCOPHANT.
THAT IDEA OF, WHAT THIS LEVEL
WHAT TRUMP IS ULTIMATELY ABLE
THERE'S A LOT OF UNANSWERED
TO RESOLVE. AVRIL:
THAN ANSWERS. THANK YOU SO MUCH.
HEART SUGGESTS THERE'S A RISK
PRESIDENTS COULD BE REMOVED
SHE VIEWS PRESIDENT TRUMP'S
AS PART OF HIS PRESSURE
CAMPAIGN ON THE CENTRAL BANK.
INDIVIDUAL GOVERNOR.
ATTACK ON THE INDEPENDENCE OF
THE FEDERAL RESERVE AS AN
OPEN MARKETS COMMITTEE, THE
CAN'T BE THINKING, WHAT DOES
THIS MEAN FOR ME?
PRESUMABLY, IS GOING TO WORRY
THIS KIND OF POLITICAL PRESSURE.
THE INSTITUTIONAL INDEPENDENCE
INFLATION POTENTIALLY, LESS
LONG-TERM INTEREST RATES.
BAD FOR THE ECONOMY.
IMPACT HOW MEMBERS ARE THINKING
ABOUT MONETARY POLICY?
IMPLICATION, IF ANY MEMBER OF
KIND OF POLITICAL PRESSURE FROM
THAT KIND OF PRESSURE ON THE
CHAIR EARLIER THIS YEAR.
HIGHER PREMIUM ON WHETHER THEY
MINDS, TO DISSENT ON KEY VOTES
I THINK IT REALLY DOES CREATE
UNPRECEDENTED RISKS.
THIS MORTGAGE FRAUD ALLEGATION
WHAT IF SHE WAS CHARGED OR
CONVICTED?
HERE IS TO PROCESS AND
INVESTIGATION AND HAVING THE
ABILITY FOR HER TO DEFEND
NONE OF THAT HAS TAKEN PLACE
THE WHITE HOUSE HAS PREEMPTED
SO THAT'S WHY IT'S REALLY
IT'S VERY THREATENING TO THE
VERY INDEPENDENCE OF THE
THINK AMONG INVESTORS AND MORE
UNDERPINNING OF OUR STRONG
FINANCIAL MARKETS. PAUL:
TV. LET'S GET YOU BACK NOW TO
STARSHIP RETURNING THROUGH THE
THIS IS THE UPPER SECTION OF
PARTIAL JOURNEY AROUND THE
THIS HAS BEEN UNIMPRESSIVE
AFTER TWO FAILED ATTEMPTS.
SUCCESSFUL.
RETURNING AND SPLASHING DOWN IN
NOW WE SEE THE UPPER SECTION OF
PUT TO THE TEST TODAY.
BEEN REMOVED.
BEING TRIED.
SECTION SUCCESSFULLY DEPLOYING
HATCH.
FAR APPEARS TO HAVE BEEN A
MORE AHEAD ON THE ASIA TRADE.
♪\
THESE ARE THE GLOBAL HEADLINES
CHINA SENDING THE COMMERCE
A SIGN THAT TRADE TALKS ARE
PRESIDENT TRUMP EXTENDED HIS
LEE IS EXPECTED TO BE IN
FRIDAY AND CAN MEET WITH U.S.
THE EUROPEAN UNION PUSHING BACK
ITS DIGITAL REGULATIONS UNFAIR
HE THREATENED TO IMPOSE TARIFFS
COUNTRIES THAT TAX ONLINE
EU OFFICIALS SAY IT'S A
AND ITS MEMBER STATES TO
ACTIVITIES. PAUL:
THAT'S A POTENTIAL BATTLE OVER
A NUMBER OF HEADWINDS FACING
EUROPE AT THE MOMENT.
PICKING UP RELATIVE TO FRANCE.
THE LARGEST YIELD PREMIUM SINCE
THE RISK OF A NO-CONFIDENCE
COLLAPSE THE GOVERNMENT.
WE ARE KEEPING A CLOSE EYE ON
ENGLAND SHOULD REMAIN UNCHANGED
SHE FEELS POLICY IS NOT TIGHT
U.K.
YEAR HIGH AS WELL.
REIN IN ITS SPENDING.
ONE FOR THE 1%.
STAY WITH US. THIS IS BLOOMBERG.
PICTURES NOW.
ATMOSPHERE, HEADING FOR A
AFTER WHAT'S BEEN A SUCCESSFUL
YOU CAN SEE THE INTENSE HEAT
IF YOU LOOK TO THE CENTER OF
THOSE FLAPS IS STARTING TO MELT
YOU MIGHT THINK THAT'S A
THIS IS PARTLY INTENTIONAL.
WITH DIFFERENT TYPES OF HEAT
ROCKET UNPROTECTED.
VARIOUS TYPES OF TILE THERE.
METHODS OF HEAT SHIELDING'S
AVRIL: YEAH.
THIS ROCKET.
SPLASHDOWN BACK INTO THE INDIAN
IT'S HARD TO OVERSTATE WHAT'S
RESOURCES THAT IS FUEL TOWARD
ENGINEERS.
WEEK. THEN FINALLY WE SAW THAT
IT LOOKS LIKE SO FAR SOME OF
MANAGED TO IRON OUT IN THE PAST
PROVING TO BE TO ADDING TO THE
HOPEFULLY, THE SPLASHDOWN BACK
INTO THE INDIAN OCEAN. PAUL:
FAIRLY SOON.
THAT'S ALWAYS A GOOD SIGN.
WE ARE JOINED BY JULIE JOHNSON
WE WILL GET YOU IN A MOMENT.
THE COMMENTARY FROM SPACEX AS
ATMOSPHERE.
ALL RIGHT.
AUDIO THERAPY.
LET'S GET TO JULIE JOHNSON NOW.
UP TO FLIGHT 10 TODAY.
THINGS DIDN'T GO AS PLANNED FOR
IN FOR A MOMENT.
PRETTY SUCCESSFUL. SO ALL RIGHT.
FROM HITTING TRANSONIC
FORWARD VELOCITY IS GOING TO
CLIFF AND STARSHIP WILL LOOK
AS WE ESSENTIALLY GO INTO OUR
IF YOU WANT SOME OF THY
TEST THAT.
THING ACTUALLY FLY?
WITH THAT SUB-ORBITAL CAMPAIGN.
SHORTLY HERE.
THERE YOU SEE THE STARSHIP
EARTH.
MOMENT HOLDING UP PRETTY WELL.
ON IT.
GET PICTURES OF IN A MOMENT
DAMAGE.
RETURNS TO EARTH.
TICKED OFF ON THIS FLIGHT AFTER
LAST THREE TESTS.
SUCCESSFUL STAGE OPERATION.
THERE WAS A SUCCESSFUL ENGINE
THE BOOSTER SPLASHED DOWN IN
THE OCEAN TODAY.
GOT TICKED OFF.
THAT WILL ALLOW IT TO RAMP UP
ITS DEPLOYMENT OF STARLING
AEROSPACE REPORTER JULIE
THANKS FOR HANGING ON THERE.
BE A RETURN TO FORM TO SPACEX.
FLIGHT?
SPACEX NEEDED A MISSION TO GO
ONE HAS DEFINITELY FIT THE BILL
AS YOU SAID, KEY MILESTONES.
REALLY NO EXPLOSIVE FAILURES.
RECENTLY FOR THIS SPACECRAFT.
MAYBE TALK US THROUGH SOME OF
TEST FLIGHTS.
ENGAGED IN ORDER TO GET TO THIS
STAGE.
STABILITY OF THE VEHICLE, THEY
, FAILING AND BLEEDING TWO
THE LAST GO AROUND, THEY LOST
CONTROL OF THE CRAFT BEFORE
THEY COULD DEPLOY THE DUMMY
TODAY WHEN THOSE SLABS OF METAL
EITHER WAY, THOSE WILL BURN UP
TO EARTH.
TO RAIN DOWN METAL.
THEY ALSO MANAGED TO RELIGHT AN
I GUESS WE WILL KNOW MORE ABOUT
EXPECTATIONS LATER.
DAY THEY ARE TO BRING THE CRAFT
AND SUCCESSFULLY LAND ON EARTH
THE OCEAN IS IN VIEW.
PERFORMING KNOWN -- WHAT'S
ORIENTING ITS OCEANS TOWARD THE
SO THAT APPEARS TO BE A SUCCESS
EVEN THOUGH IT DOESN'T LOOK AT
[APPLAUSE]
>> HEY.
THANK YOU.
SPLASH OUT IN THE INDIAN OCEAN.
THAT WAS PRETTY GOOD.
IT DIDN'T EXPLODE BUT THAT'S TO
IT JUST HIT THE OCEAN.
PRETTY SUCCESSFUL FLIGHT.
FOLLOWING A SERIES OF SETBACKS,
RESOURCES IN THIS PROBLEM.
WHAT DO WE KNOW?
MY COLLEAGUE LAUREN AND KYLE
THIS LAST WEEK.
TAKING A LOOK AT IT IF YOU
HAVEN'T SEEN.
ACROSS SEVERAL ORGANIZATIONS
AND PUT THEM ON STARSHIP TO TRY
PROBLEMS THAT HAD CONTRIBUTED
TO THIS STRING OF FAILURES.
PRESSURE WAS INTENSE ON HIM, ON
DELIVERED.
JULIE, IT'S HARD TO OVERSTATE
FOR FATE -- SPACEX AS A COMPANY.
THEY WERE WATCHING THE LAUNCH
DOWN INTO THE INDIAN OCEAN.
JULIE JOHNSON FOR US.
HAVE GONE STRATOSPHERIC.
PRICES SURGING PAST 20% EARLIER
ON IN THE SESSION.
TO BE RAISING A STATE IN THE
COMPANY.
GAINS.
DISCUSSING, THERE ARE POTENTIAL
DOMESTIC SENSITIVITIES RELATING
OF COURSE, WE ARE IN THE THICK
OF EARNINGS SEASON IN CHINA.
PROFIT DECLINE AMID A DELIVERY
ALIBABA.
OUR CHINA CORRESPONDENT VINDMAN
GIVE US A PREVIEW OF MAY TUAN.
PROFITS EXPECTED TO FALL BY 33%.
WE ARE TALKING ABOUT REALLY
PRACTICALLY FREE DELIVERY.
THAT'S LIKELY TO HAVE HIT THE
SO INVESTORS WILL LIKELY BE
OF THE PROFIT LOSSES IN THIS
J.D..COM JUST REPORTED EARNINGS
PROFITS HAVING.
J.D..COM.
DOMINANT PLAYER IN THE FOOD
YOU CAN SEE ON THE SCREEN THAT
BEHIND J.D..COM AND ALIBABA
DIVERSIFIED OF THE THREE
DOWN ABOUT 20% YEAR TO DATE.
WANT TO WATCH, WE COULD SEE
THE EARNINGS. J.P.
THE ONES THAT ARE MORE BEARISH
FORECAST FOR EARNINGS-PER-SHARE
CONSENSUS. PAUL:
WHAT WERE THE KEY TAKEAWAYS
THERE?
PETRO CHINA RESULTS ARE NOT
PROFIT OF 48 BILLION YOU WANT.
IT'S NOT QUITE SURPRISING GIVEN
OIL PRICES.
WAS BETTER THAN EXPECTED, THAT
THAN THE DROP IN INTERNATIONAL
THE YEAR.
FOR THE COMPANY IS ITS NATURAL
THAT'S WHERE WE SEE DEMAND
IN FACT, ESTIMATES ARE THAT
THROUGH 2050 AS CHINA IS IN THE
TRYING TO REDUCE RELIANCE ON
ENERGY.
PLAN FOR THE COMPANY TO BUY
FACILITIES IN CHINA FROM CHINA
GREATLY INCREASE THE COMPANY'S
THE COMPANY SAID IT WILL HELP
THE NATURAL GAS SEGMENT HELPING
IN THE DOWNSTREAM OIL SEGMENT.
WE HAVE MORE TO COME ON THE
ASIA TRADE. THIS IS BLOOMBERG.
LET'S TAKE A LOOK AT HOW KOREAN
ASSETS ARE TRACKING AT THE
NVIDIA LATER ON.
WELL COME UP ABOUT 2%.
WILL INVEST 5 MILLION IN ITS
THAT'S PART OF THE DEAL THAT
PRESIDENT LEANNE PRESIDENT
TRUMP THAT VISIT THIS WEEK.
DEALS THAT HAVE BEEN STITCHED
THE FEDERATION OF KOREAN
DOMESTIC FIRMS COULD INVEST 150
AND THAT'S AFTER SOUTH KOREAN
DEALS WITH U.S.
OFFENSIVE FROM PRESIDENT -- IN
JOINING US NOW IS SENIOR
HE PREVIOUSLY SERVED AS THE
U.S. FREE TRADE DEAL.
FIRST OFF, IT LOOKS LIKE THIS
AND SOUTH KOREA COULD PAVE THE
WHAT IS YOUR READ INTO THE
A LOT MORE FROM THAT
OUT AT THE END OF JULY?
BETWEEN KOREA AND THE UNITED
THIS IS A HISTORIC DEFINING
MOMENT FOR BOTH COUNTRIES.
GREAT SUCCESS I THINK.
THE BEGINNING.
LEADERS SEEMS TO BE VERY GOOD.
MODERNIZATION OF ALLIANCE
BETWEEN THE TWO COUNTRIES.
NEGOTIATION ON PANIC AND
OF JULY THIS YEAR.
DETAILS OF THESE KEY ISSUES.
SCHIMMEL ARE RULES ON THE
ALLIANCE.
TRADE AND INVESTMENT.
AMBIGUITIES.
GREAT DEAL OF SUCCESS.
JOINT STATEMENT OR JOINT PRESS
THEREFORE THE AGREEMENT
VERY GOOD.
WHICH CAN BE DISCLOSED SO FAR.
INVESTMENT FUND TO BE MADE IN
ALSO OTHER ISSUES.
FOR EXAMPLE, AGRICULTURE.
HOW MUCH CERTAINTY WOULD YOU
KOREAN GOVERNMENT?
ADVOCATING FOR SOUTH KOREAN
COMPANIES TO INVEST INTO THE
THE SOUTH KOREAN FIRMS AS WELL?
COMMITTED THAT KOREA WILL
INVESTMENT IN THE UNITED STATES.
UPON AT THAT TIME.
JULY, THE U.S.
INVESTMENT IS OWNED AND
THE PROFITS COMING FROM THE
WOULD GO TO 90% OF THE UNITED
DIFFERENT.
STARTED A COUPLE DAYS AGO, U.S.
AMBIGUOUS AGREEMENT INTO THE
THEN THE MOMENT OF TRUTH CAME.
ON THE CONDITIONS OF INVESTMENT.
CONSULTATIONS, NEGOTIATIONS
SUMMIT MEETING. PAUL:
NEGOTIATOR YOURSELF.
WHETHER OR NOT THIS IS UNUSUAL
CAN BE ENCOUNTERED WHEN THINGS
THINGS HAVE -- BOTH SIDES HAVE
WHAT'S BEEN AGREED TO?
NEGOTIATION IS OVER, I THINK
OUT.
IS DIFFERENT.
KOREA. U.S.
EU DEAL ALSO DID NOT PRODUCE A
THE SUMMIT MEETING.
PRESIDENT TRUMP'S NEGOTIATING
WITH OTHER COUNTRIES. PAUL:
UNFORTUNATELY OUT OF TIME BUT
MOREHEAD ON THE ASIA TRADE.
COUNTING DOWN TO THE CHINA
TO KEEP PARADE NEXT OUT -- NEXT
TO SHOWCASE THE COUNTRY'S
BLUMBERG ANALYSIS HAS FOUND
OUSTED A FIFTH OF THE GENERALS
SINCE TAKING POWER IN 2012.
HONG KONG.
GENERALS?
MISSING. THERE DOES SEEM TO BE A
AS YOU SAID, A FIFTH OF THE
14-79, HAVE BEEN INVESTIGATED
THE MOST HIGH-PROFILE WAS THE
PLA. WE ONLY KNEW THAT HE WENT
UP TO THIS ANNUAL TREEPLANTING
THIS SHOWS THE TYPICAL OPACITY
QUESTIONS ABOUT WHAT'S GOING ON
DO IN TERMS OF SHAPING HIS
WHAT ARE PEOPLE WATCHING FOR
IS THIS PURGE OF THE MILITARY
FINISHED YET?
ALWAYS IMPOSSIBLE TO PREDICT.
THAT PEOPLE CAN LOOK FOR WHICH
EXPECT TO SEE ALL THOSE
THE MOST OBVIOUS ONE IS THIS
ANNIVERSARY OF THE VICTORY OVER
THAT WILL TAKE PLACE IN BEIJING
CHINA WATCHES, MIGHT BE
ALSO LOOKING TO SEE WHO HAS
TO SEE IF ANYONE IS MISSING.
NOT LONG AFTER THAT, THERE'S
PARTY OFFICIALS WILL GET
FIVE-YEAR ECONOMIC PLAN AND
DECISIONS THAT MAY ALSO DEVISE
COUNTRY GOING FORWARD. PAUL:
DOES ALL THIS IN SOME WAY
CONFLICT OR WAR?
IT'S IMPORTANT TO NOTE THAT
INVOLVED IN THE MILITARY
A BRIEF SKIRMISH WITH VIETNAM.
VETERANS INVOLVED.
TAKING DOWN GENERALS THAT
SOME SORT OF CHAOTIC APPROACH
TOWARDS WAR READINESS.
MILITARY OFFICIALS, IF THEY
EQUIPMENT, THEY MIGHT TRY TO
THEY WOULD BE NEXT. PAUL: YEAH.
SUBSCRIBERS CAN READ THE STORY
TERMINAL.
I BIG TAKE IS YOUR FUNCTION.
THAT'S IT FROM THE ASIA TRADE.
TRADE IN HONG KONG, SHANGHAI,
AND SHENZHEN.