Speaker 1: Good morning.
Speaker 2: I'm Brian Curtis and I'm Doug Prisner. Here are the
Speaker 2: stories we're following today.
Speaker 1: All right, now it's time for global needs. US is
Speaker 1: expressing concern on multiple fronts today about potential spread of
Speaker 1: the war in the Middle East, and Baxter is covering
Speaker 1: that as part of the Middle East story and has
Speaker 1: all of this reporting from San Francisco.
Speaker 3: Ed all right, thank you, Brian. Right, US ratcheting up
Speaker 3: efforts to keep the Middle East war from spreading. Secretary
Speaker 3: of State Anthony Blincoln will extend his trip further and
Speaker 3: go back to Israel.
Speaker 4: I've heard from virtually every partner. Was a determination I've
Speaker 4: shared view that we have to do everything possible to
Speaker 4: make sure this doesn't spread other places.
Speaker 3: That says Gaza civilians should not suffer.
Speaker 4: As I said in Tel Aviv, as President Biden has said,
Speaker 4: the way that Israel does this matters, needs to do
Speaker 4: it in a way that affirms the shared values that
Speaker 4: we have for human life and human dignity.
Speaker 3: And meanwhile, the US is confirming at least thirty US
Speaker 3: citizens are confirmed dead in the violence. About a million
Speaker 3: people have been told to evacuate northern Gaza. Meanwhile, ahead
Speaker 3: of an expected Israeli assault on Hamas and AS Ready
Speaker 3: Defense Forces spokesman Lieutenant Colonel Peter Lerner says Hamas is
Speaker 3: trying to prevent the safe evacuation of people.
Speaker 5: They establish checkpoints to try and prevent people. They disseminated
Speaker 5: messaging telling people to ignore that. Ignore that, and it
Speaker 5: just goes to show how Hamas is actually trying to
Speaker 5: put the people of Gaza at more risk.
Speaker 3: And White House National Security Advisor Jake Sullivan on ABC
Speaker 3: has heard on Bloomberg says US is trying to get
Speaker 3: aid into Gaza.
Speaker 6: We are in touch with our Israeli counterparts. We're in
Speaker 6: touch with the United Nations to help secure the necessary
Speaker 6: supplies of food, water, and medicine to the citizens of Gaza,
Speaker 6: those Palestinians who have nothing to do with the barbaric
Speaker 6: terrorists who carried out this attack.
Speaker 3: Meanwhile, Hezbollah has attacked Israeli army positions near the border
Speaker 3: with Lebanon Ran backed Hezbola has fired guided missiles again
Speaker 3: at the post and also destroyed a tank with live ammunition. Meanwhile,
Speaker 3: a bipartisan group of US lawmakers is in Israel, and
Speaker 3: Senate Majority Leader Chuck Schumer says an aid package is
Speaker 3: on the way.
Speaker 7: We're not waiting for the House, plain and simple, that
Speaker 7: would be foolish. But we believe if we put together
Speaker 7: a strong package and pass it with an overwhelming, strong
Speaker 7: bipartisan majority, it will put pressure on the House one.
Speaker 5: Way or another.
Speaker 3: Yes, so nothing. They're not waiting for the House, is
Speaker 3: his bottom line. Meanwhile, the House will attempt to elect
Speaker 3: a speaker on Tuesday. Members notified today the vote will
Speaker 3: occur the Republican caucuses and nominated Jim Jordan for the job.
Speaker 3: Whether or not he has a sport to get it
Speaker 3: done is still a question. Meanwhile, House Minority Leader Hakim
Speaker 3: Jeffrey says he's an informal talks with Republican colleagues about
Speaker 3: a potential solution to finding a speaker. Jeffreys on NBC
Speaker 3: has heard here on Bloomberg's as Democrats are ready willing
Speaker 3: and able to find a solution.
Speaker 5: There are informal conversations that have been underway. When we
Speaker 5: get back to Washington tomorrow, it's important to begin to
Speaker 5: formalize those discussions.
Speaker 3: So then it'll wait for House Republicans and for Chuck
Speaker 3: Schumer to get back Philippines have asked China to stop
Speaker 3: dangerous maneuvers and aggressive actions in the South China Sea.
Speaker 3: It is warning a potential collation of the disputed waters.
Speaker 3: Philippine military says they had to send warnings to Chinese
Speaker 3: ships to avoid danger. Global newspower by more than twenty
Speaker 3: seven hundred journalists and analysts in over one hundred twenty
Speaker 3: countries in San Francisco, I'med Baxter and this is Bloomberg.
Speaker 1: Thanks very much. This is Bloomberg Daybreak Asia. I'm Brian
Speaker 1: Curtis along with Doug Krisner. Our colleague Paul Allen will
Speaker 1: join us a little later.
Speaker 8: Well.
Speaker 1: Israel is hoping to avoid a debt rating cut as
Speaker 1: investors eye the impact of this war with Hamas we
Speaker 1: get the story from Bloomberg's Denise Pilargreni.
Speaker 9: A top Israeli official in charge of the country's debt
Speaker 9: says Israel might be able to avoid its first ever
Speaker 9: rating down great thanks to sound finances. The senior official
Speaker 9: at the Finance Ministry does say, however, that all bets
Speaker 9: would be off if the country's war drags out for
Speaker 9: a long time. The official also calls a credit downgrade
Speaker 9: an extreme scenario and says it would be more likely
Speaker 9: Israel would be put on credit watch. The cost to
Speaker 9: ensure Israeli bonds against potential default did soar last week
Speaker 9: to the highest point in a decade, but Moody's Investor
Speaker 9: Service Friday postponed a plan review of Israel's rating and
Speaker 9: said it would continue to evaluate instead. Denise Pelgridy Bloomberg Radio.
Speaker 2: The head of the World Trade Organization, is warning that
Speaker 2: war between Israel and Hamas will have a big impact
Speaker 2: on global trade if the conflict were to spread. More
Speaker 2: from Bloomberg Steve Rappaport.
Speaker 10: WTO Director General and Gozi al konjo Awella says the
Speaker 10: war will only further weeken global trade, already crippled by
Speaker 10: high interest rates, China's stressed real estate market, and Russia's
Speaker 10: war with Ukraine. Doctor okonjo Owella says she hopes the
Speaker 10: conflict ends soon and it's contained, adding everybody's on eggshells
Speaker 10: and hoping for the best. The WTO last week cut
Speaker 10: its growth forecast for global goods trade this year. Steve
Speaker 10: Rappaport Bloomberg Radio.
Speaker 1: US Secretary of State Anthony Blincoln has urged China to
Speaker 1: use its influence in the Israel Hamas conflict. Bloomberg's Joan
Speaker 1: Wong has the story from Hong Kong.
Speaker 11: The US State Department says Blincoln had a long conversation
Speaker 11: with Foreign Minister Wanghi before departing from Riat. The Jew
Speaker 11: spoke for about an hour. It was their first call
Speaker 11: since the Hamas attacks on Israel a week ago. B
Speaker 11: Lincoln urged Beijing to help prevent other state or non
Speaker 11: state actors from attacking Israel and widening the war. The
Speaker 11: US has been particularly concerned about Hesbala, the Irun back
Speaker 11: to militia group in Lebanon. The administration is worried about
Speaker 11: an additional front being opened on Israel's northern border. In
Speaker 11: Hong Kong, join Wang Bloomberg Radio.
Speaker 2: We go to China next to where the Central Bank
Speaker 2: is saying now that the domestic economy and the property
Speaker 2: market are showing signs of improvement. We have more from
Speaker 2: Bloomberg's boniau In.
Speaker 12: Central Bank chief Pangong Shuang said indicators including industrial production
Speaker 12: and services showed positive trends in the economy. He spoke
Speaker 12: at the IMF meetings in Morocco. Pen also said China's
Speaker 12: local government debt risk is structural and generally manageable.
Speaker 5: He said.
Speaker 12: China with step up efforts to attract foreign investment and
Speaker 12: stabilized trade, but he was not specific about the details.
Speaker 12: Penn said China would seek more sustainable growth while maintaining
Speaker 12: what he called a reasonable pace of expansion in Hong Kong.
Speaker 12: I'm Bonnie ol Bloomberg Radio.
Speaker 1: Back in the United States. Wall Street will have plenty
Speaker 1: to contend with this week, not only the geopolitics you've
Speaker 1: been talking about, but also a flood of earnings reports coming.
Speaker 1: We get more from Bloomberg's Charlie Pellett.
Speaker 8: Among the financials this week Goldman Sachs, Morgan Stanley, Bank
Speaker 8: of America, Blackstone, Bank of New York, Mellon, American Express,
Speaker 8: and Charles Schwab. We'll also hear from a broad range
Speaker 8: of S and P companies. Sarah Malik is chief investment
Speaker 8: officer at Neuvene.
Speaker 13: Coming into earning seasons, we've seen cutstick and census. I
Speaker 13: think there's upside companies can eat and raise. Also, margins
Speaker 13: are expected to be down, and we're coming off three
Speaker 13: quarters of our earnings are session of negative negative earnings growth.
Speaker 8: Also this week at and T, Johnson and Johnson, Lockheed Martin, Netflix,
Speaker 8: and Tesla, among many others. In New York, Charlie Bloomberg Radio,
Speaker 8: all Right, the time here.
Speaker 1: Is about ten minutes past the hour, and we are
Speaker 1: looking at some of the top stories here with our
Speaker 1: guest Benjamin Antony, co founder and CEO of the Murriam Institute,
Speaker 1: to talk a little bit more about the Israel Hamas war.
Speaker 1: Paul Allen from Sydney joins this for the conversation as well. Benjamin,
Speaker 1: thanks very much. I guess pressing here at the moment
Speaker 1: is these more than half a million gozens that have
Speaker 1: moved to the south of Goze, and yet at the
Speaker 1: same time we don't know yet whether or not the
Speaker 1: border with Egypt will be opened for supplies, so that
Speaker 1: could develop into a humanitarian crisis. So how urgent is
Speaker 1: that and can you flesh out some of the some
Speaker 1: of the behind the scenes actions on that.
Speaker 5: Yes, absolutely, and thank you for having me. The situation
Speaker 5: with the Gazans who are moving southward is the result
Speaker 5: of the IDF's efforts to reduce to its lowest number
Speaker 5: the civilian casualties that will be caught in the crossfire
Speaker 5: in the event of a ground incursion. Now it's important
Speaker 5: to emphasize the ground incursion has not yet taken place.
Speaker 5: We are beyond a week since the attack last Saturday
Speaker 5: upon the civilians of the States of Israel that resulted
Speaker 5: in thirteen hundred members of our society here being massacred
Speaker 5: in the most horrendous and horrific manner, and more than
Speaker 5: one hundred and fifty being taken as hostages. Still being held,
Speaker 5: including our elderly, are infirm, our women, our children, even
Speaker 5: and born children. It's reported to be the case. And
Speaker 5: as a consequence of that, the IDF seeks to now
Speaker 5: clear out northern Gaza of Hamas fighters with a view
Speaker 5: stated view to toppling the Haramas military regime. With that
Speaker 5: in mind, they have called repeatedly and at length for
Speaker 5: Ghazans to move by where the humanitarian corridor signed by
Speaker 5: the Israel Defense Forces down to the south toward the
Speaker 5: Rafia crossing, and they have also called upon the Egyptians
Speaker 5: to open the border if the need arises. Now, with
Speaker 5: that having been said, there is a movement of people
Speaker 5: down toward the south. That is a positive development. Israel
Speaker 5: has turned on the water supply and gas supply in
Speaker 5: southern Gaza as a result of the influx of those
Speaker 5: individuals and of those people. But it's very possible that
Speaker 5: Hamas is cynically holding others and it seems to be
Speaker 5: the case in northern Gaza with a view to causing
Speaker 5: deliberately civilian casualties in the event of what seems to
Speaker 5: be an inevitable ground incursion. But there are still many
Speaker 5: questions to be asked about that.
Speaker 14: We have been hearing some pretty hot greater it come
Speaker 14: from Israeli Prime Minister Benia Bendit in terms of wiping Hamas.
Speaker 8: Off the maps.
Speaker 14: So what does Gaza look like at the end of
Speaker 14: this conflict? And there is there a risk for Israel
Speaker 14: here in terms of the scale of its retaliation.
Speaker 5: I think that there's always a risk. War is one
Speaker 5: of those things that one only gets a retaliation upon contact,
Speaker 5: right and everybody has a very clear strategy until there
Speaker 5: is engagement with the enemy. The reality of the matter
Speaker 5: is that for years right who, despite the FIY rhetoric,
Speaker 5: has decided upon a cautious approach towards toppling fighting countering
Speaker 5: Hamas operatives inside the Gaza strip. I don't refer to
Speaker 5: the toppling of the Ramas movement because obviously that was
Speaker 5: not achieved, but the targeted killings of leaders of Kamas,
Speaker 5: that's something that net has been very measured with in
Speaker 5: the past. Now, what's interesting about this is he's formed
Speaker 5: a war cabinet which includes members of the opposition, including
Speaker 5: former Defense Minister in chief of Staff Benny Gantz, and
Speaker 5: another former Chief of Staff of the Israel Defense Force
Speaker 5: is Gaddy Eisenkott. Now, fascinatingly, all three of these individuals
Speaker 5: have worked before with regard to the Gaza Front, and
Speaker 5: on all occasions they have adopted a cautious, measured approach.
Speaker 5: So to move from that approach to an approach that
Speaker 5: would match the rhetoric you mentioned of Prime Minister Netanyahu,
Speaker 5: which alludes to the toppling of Karmas, that's going to
Speaker 5: take a dramatic shift in mindset and strategy. We'll wait
Speaker 5: and see whether that occurs. One interesting aspect at play
Speaker 5: there is a new individual, the Defence Minister Joa Gallant,
Speaker 5: a true combat fighter of the Israel Defense Forces, formerly
Speaker 5: the head of our Naval Commando unit in Israeli Navy,
Speaker 5: and he may be able to pound his fist with
Speaker 5: sufficient vigor to move towards a decisive outcome against Kramas.
Speaker 1: Benjamin Israel has said repeatedly it doesn't want occupy guys,
Speaker 1: and I think many people would believe that. But even
Speaker 1: if victory is declared over Hamas, how can Israel be
Speaker 1: sure that another group just doesn't pop up. In fact,
Speaker 1: even in the West Bank, Fatah and a lot of
Speaker 1: supporters there have been saying that they would back Hamas,
Speaker 1: So it seems like just getting rid of Hamas, even
Speaker 1: if that happens, that's not enough.
Speaker 5: I think you're absolutely right. Israel in the past has
Speaker 5: been saying that it does not want to retake the
Speaker 5: Gaza Strip, it does not want to remain inside the
Speaker 5: Gaza Strip. But of course that was prior to the
Speaker 5: events that took place on Saturday morning, October the seventh.
Speaker 5: Those events have shaken is Ready to society to its core.
Speaker 5: It has brought about very real questions that I surely
Speaker 5: will be asked of our entire defense establishment and our
Speaker 5: leadership going all the way up to Prime Minister Netta Yahu.
Speaker 5: Now's not the time to delve into those recruitments. Nations
Speaker 5: that surely await, but the mindset has shifted. The mindset
Speaker 5: is that this is a presence there ramas in the
Speaker 5: Gaza Strip that cannot be permitted to re arm. Now
Speaker 5: how that might turn out, Well, it could be anything
Speaker 5: from a full military reoccupation of the Gaza Strip. That's
Speaker 5: something that certainly is being talked about, but it's not
Speaker 5: something that's met with a very enthusiastic appetite for reasons
Speaker 5: that you well understand. And we could see some sort
Speaker 5: of arrangement whereby the Israelis move in, the IDF moves in,
Speaker 5: disarms tramas and then holds strategic areas to prevent the
Speaker 5: rearming of camas, such as the Rafah crossing, the Rafa
Speaker 5: crossing down there alongside. That's possible.
Speaker 14: Just to quickly, Benjamin, we have a unity government, a
Speaker 14: unity war cabinet in Israel at the moment. How long
Speaker 14: can that survive?
Speaker 5: Well, that's a very interesting question. I don't think that
Speaker 5: that will survive for very long at all. If I
Speaker 5: can be frank about it, I think that you're going
Speaker 5: to see Prime Minister Netan Yahoo and the Chief of
Speaker 5: Staff and the upper echelons of the entire security establishment,
Speaker 5: perhaps fight and fight with regard to combating Hamas as
Speaker 5: though this is indeed their last fight atop the leadership
Speaker 5: of Israel, because quite frankly, I believe it is. When
Speaker 5: you ask me how long the unity government will last,
Speaker 5: I would imagine until the recrimination, the inevitable recrimination starts
Speaker 5: here in Israel and people start moving to have neta
Speaker 5: Yahoo move aside.
Speaker 1: This is Bloomberg Daybreak Asia, your morning brief on the
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