1
00:00:00,040 --> 00:00:07,000
Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

2
00:00:11,200 --> 00:00:14,480
Speaker 2: Welcome to the Daybreak Asia podcast. I'm Doug Chrisner. Oil

3
00:00:14,560 --> 00:00:17,959
Speaker 2: prices are trading higher due to an escalation of military

4
00:00:18,000 --> 00:00:22,800
Speaker 2: activity in the war with Iran. Earlier, Cutter reported extensive

5
00:00:22,880 --> 00:00:27,440
Speaker 2: damage at the complex housing the world's largest LNG export plant.

6
00:00:27,800 --> 00:00:30,920
Speaker 2: It was struck by an Iranian missile, and this strike

7
00:00:31,000 --> 00:00:35,479
Speaker 2: came just hours after Iran threatened energy facilities across the Gulf.

8
00:00:35,960 --> 00:00:39,320
Speaker 2: That threat, incidentally was issued after the US and Israel

9
00:00:39,400 --> 00:00:43,839
Speaker 2: struck the South Pars LNG field. South Pars is jointly

10
00:00:43,880 --> 00:00:46,720
Speaker 2: owned by Iran and Cutter. Cutter called to strike a

11
00:00:46,800 --> 00:00:51,840
Speaker 2: dangerous and irresponsible step, and later Cutter expelled Iran's military

12
00:00:51,920 --> 00:00:55,720
Speaker 2: and security attaches from the country. For a closer look

13
00:00:55,720 --> 00:00:58,160
Speaker 2: at what's happening in the LNG market, I'm joined by

14
00:00:58,200 --> 00:01:02,639
Speaker 2: Bloomberg's sing Yeong Singnique covers Energy. She joins us from

15
00:01:02,640 --> 00:01:05,600
Speaker 2: our studios in Singapore. Thank you for being here. Can

16
00:01:05,640 --> 00:01:07,720
Speaker 2: you describe for me what you're seeing in the LNG

17
00:01:07,920 --> 00:01:08,679
Speaker 2: market right now?

18
00:01:09,440 --> 00:01:12,399
Speaker 1: Thank you for having me well for ller G. Right now,

19
00:01:12,440 --> 00:01:17,320
Speaker 1: we're seeing, you know, prices being really elevated so ever

20
00:01:17,400 --> 00:01:22,080
Speaker 1: since Kata halted its production. We've seen Asian LNG prices

21
00:01:22,520 --> 00:01:26,080
Speaker 1: double and right now they're still at around that level.

22
00:01:26,200 --> 00:01:28,560
Speaker 1: It's pulled back a little bit, but it still remains

23
00:01:28,800 --> 00:01:31,759
Speaker 1: really high, and that is, you know, causing a lot

24
00:01:31,800 --> 00:01:35,039
Speaker 1: of buyers to wait and see. We already see some

25
00:01:35,400 --> 00:01:39,320
Speaker 1: Asian buyers not being able to secure cargos that they

26
00:01:39,400 --> 00:01:40,720
Speaker 1: need for the coming months.

27
00:01:40,920 --> 00:01:43,880
Speaker 2: So much of the conversation around the war has to

28
00:01:43,880 --> 00:01:45,959
Speaker 2: do with the Strait of Horror. Moves and the fact

29
00:01:46,000 --> 00:01:50,160
Speaker 2: that it's been effectively closed, give me a sense of

30
00:01:50,200 --> 00:01:53,440
Speaker 2: the LNG traffic that typically goes through the strait.

31
00:01:55,600 --> 00:01:58,760
Speaker 1: Yeah, so it's it's a really big impact. We're also

32
00:01:58,760 --> 00:02:02,680
Speaker 1: seeing about twenty percent and of LNG shipments go through

33
00:02:02,680 --> 00:02:06,040
Speaker 1: the Strait of Hormones. And of these shipments, actually a

34
00:02:06,040 --> 00:02:09,320
Speaker 1: lot of these shipments are towards Asia, so Asia is

35
00:02:09,320 --> 00:02:11,040
Speaker 1: actually seeing a lot of the impact.

36
00:02:11,320 --> 00:02:14,320
Speaker 2: One of the things that I remember about LNG that

37
00:02:14,400 --> 00:02:19,160
Speaker 2: it has to be cooled, liquefied, and then compressed when

38
00:02:19,320 --> 00:02:22,320
Speaker 2: it is transitd And in my mind, when you talk

39
00:02:22,360 --> 00:02:25,760
Speaker 2: about an environment where war is the central issue here,

40
00:02:26,200 --> 00:02:30,040
Speaker 2: it would be very, very dangerous to transport this kind

41
00:02:30,040 --> 00:02:32,080
Speaker 2: of cargo through a war zone, right.

42
00:02:32,760 --> 00:02:35,480
Speaker 1: Yeah, exactly, So that's why we're seeing that, you know,

43
00:02:35,600 --> 00:02:38,440
Speaker 1: a lot of these cargoes there right now, they're stuck

44
00:02:38,480 --> 00:02:41,760
Speaker 1: in the Strait of hormones. We don't see any shipments

45
00:02:41,800 --> 00:02:45,160
Speaker 1: carrying energy passing through the strait at the moment, but

46
00:02:45,400 --> 00:02:47,160
Speaker 1: that's something that we're keenly watching up for.

47
00:02:48,000 --> 00:02:51,640
Speaker 2: I'm curious seeing you are other LNG producers stepping up

48
00:02:51,720 --> 00:02:54,600
Speaker 2: to compensate for the interruption of LNG out of the

49
00:02:54,600 --> 00:02:55,120
Speaker 2: Middle East.

50
00:02:55,639 --> 00:02:58,200
Speaker 1: Okay, so right now we're actually seeing like a lot

51
00:02:58,240 --> 00:03:01,600
Speaker 1: of the other major producers that includes some Australia and

52
00:03:01,639 --> 00:03:05,400
Speaker 1: the US, they're actually already running at almost full capacity.

53
00:03:05,840 --> 00:03:08,800
Speaker 1: So in that sense, it's really hard for them to

54
00:03:09,040 --> 00:03:13,480
Speaker 1: increase their production and to export more. And one big

55
00:03:13,600 --> 00:03:16,680
Speaker 1: impact that we're seeing right now is that in Asia,

56
00:03:17,240 --> 00:03:20,359
Speaker 1: parts of Asia, like South Asia and Southeast Asia, they

57
00:03:20,360 --> 00:03:23,880
Speaker 1: are seeing you know, hot weather and that might increase

58
00:03:24,080 --> 00:03:27,320
Speaker 1: gas consumption in the coming months. And then if we

59
00:03:27,360 --> 00:03:29,960
Speaker 1: look a little bit further ahead from May onwards, we

60
00:03:30,040 --> 00:03:34,239
Speaker 1: have countries like Japan, like Korea, they're gonna experience really

61
00:03:34,240 --> 00:03:36,440
Speaker 1: hot weather because of the summer, and that is also

62
00:03:36,520 --> 00:03:39,720
Speaker 1: gonna further strain the market because that will live guests

63
00:03:39,800 --> 00:03:44,440
Speaker 1: demand basically for like air conditioning, electricity, power demand, and yeah,

64
00:03:44,480 --> 00:03:46,680
Speaker 1: that we see like a real pain point there.

65
00:03:47,160 --> 00:03:50,560
Speaker 2: And European countries, I know, how heavily reliant on lerg

66
00:03:50,720 --> 00:03:51,160
Speaker 2: as well.

67
00:03:51,680 --> 00:03:56,440
Speaker 1: Yeah, exactly. And for Europe, we see that their stockpiling

68
00:03:56,480 --> 00:03:58,640
Speaker 1: season is coming up right in a few weeks, and

69
00:03:58,720 --> 00:04:01,760
Speaker 1: so that will sort of use the competition with Asia

70
00:04:01,960 --> 00:04:03,800
Speaker 1: for this limited poor supplies.

71
00:04:04,440 --> 00:04:07,240
Speaker 2: In terms of the actual price, can you talk to

72
00:04:07,280 --> 00:04:10,000
Speaker 2: me about how much we have seen a price appreciation

73
00:04:10,120 --> 00:04:13,640
Speaker 2: over the period where the war has been kind of prosecuted.

74
00:04:14,280 --> 00:04:18,760
Speaker 1: So for Asian energy prices, before the world broke out,

75
00:04:18,800 --> 00:04:22,279
Speaker 1: we saw spot prices treating it about ten dollars or

76
00:04:22,320 --> 00:04:26,640
Speaker 1: ten dollars plus, but right now they are above twenty dollars.

77
00:04:26,960 --> 00:04:30,960
Speaker 1: So in terms of Asian energy prices, that has you know, doubled,

78
00:04:31,640 --> 00:04:34,200
Speaker 1: and that is actually causing a lot of pain as

79
00:04:34,200 --> 00:04:36,160
Speaker 1: well for countries that are more price sensitive.

80
00:04:36,440 --> 00:04:39,520
Speaker 2: I'm wondering whether power producers have been able to switch

81
00:04:39,560 --> 00:04:43,200
Speaker 2: to an alternative fuel that they would use to create electricity.

82
00:04:43,880 --> 00:04:47,400
Speaker 1: Yeah, so that's something really interesting that we're seeing. I mean,

83
00:04:47,640 --> 00:04:49,880
Speaker 1: like for Europe, they can depend a lot more on

84
00:04:49,920 --> 00:04:53,440
Speaker 1: renewables because they have a really huge share of wind power.

85
00:04:53,640 --> 00:04:57,440
Speaker 1: But for Asia, you know, the grid it's small, accustomed

86
00:04:57,440 --> 00:05:01,920
Speaker 1: to call. So we see actually a lot of countries

87
00:05:02,480 --> 00:05:05,960
Speaker 1: looking at coal as an option. So for example, we're

88
00:05:05,960 --> 00:05:09,159
Speaker 1: seeing Bangladesh has already you know, increased its coal fired

89
00:05:09,200 --> 00:05:12,640
Speaker 1: power generation, and then we have countries like Taiwan that

90
00:05:12,800 --> 00:05:16,560
Speaker 1: has mentioned it is looking at increasing that as well.

91
00:05:16,720 --> 00:05:20,240
Speaker 2: So the Lergy story is quickly becoming an inflation story,

92
00:05:20,279 --> 00:05:20,640
Speaker 2: is it not.

93
00:05:21,480 --> 00:05:25,080
Speaker 1: Well, what's the most important is that energy is central

94
00:05:25,200 --> 00:05:28,680
Speaker 1: to consumers because you know, we use power, we use

95
00:05:28,960 --> 00:05:34,159
Speaker 1: electricity everywhere. So this problem where Llergy is stuck in

96
00:05:34,160 --> 00:05:37,760
Speaker 1: the strait of hormones and where Qatar has effectively halted production,

97
00:05:38,120 --> 00:05:40,479
Speaker 1: it's going to affect the world in a sense that

98
00:05:40,520 --> 00:05:44,280
Speaker 1: consumers are going to see rising prices for electricity, and

99
00:05:44,640 --> 00:05:48,920
Speaker 1: you know, especially industries that use large amounts of electricity,

100
00:05:49,000 --> 00:05:52,400
Speaker 1: like for example, the semiconductor industry, they will see prices

101
00:05:52,400 --> 00:05:53,880
Speaker 1: increase quite a bit as well.

102
00:05:54,040 --> 00:05:56,000
Speaker 2: SINGI thank you so very much. We'll leave it there.

103
00:05:56,040 --> 00:05:59,839
Speaker 2: Bloomberg singing on Energy Reporter from Singapore. Joining here on

104
00:06:00,120 --> 00:06:10,040
Speaker 2: Daybreak Asia podcast. Welcome back to the Daybreak Asia Podcast.

105
00:06:10,080 --> 00:06:13,599
Speaker 2: I'm Doug Krisner. We turn next to the FED. Policymakers

106
00:06:13,680 --> 00:06:16,760
Speaker 2: left the FED funds rate unchanged and they continue to

107
00:06:16,839 --> 00:06:19,960
Speaker 2: expect just one rate cut this year. The Fed also

108
00:06:20,080 --> 00:06:23,479
Speaker 2: acknowledged increased uncertainty due to war in the Middle East.

109
00:06:23,839 --> 00:06:24,160
Speaker 3: Chair J.

110
00:06:24,320 --> 00:06:26,960
Speaker 2: Powell said it's simply too soon to know the scope

111
00:06:27,000 --> 00:06:30,839
Speaker 2: and duration of the potential effects on the economy. For

112
00:06:30,880 --> 00:06:33,839
Speaker 2: a closer look, I'm joined by Bloomberg strategist David Finnerty.

113
00:06:34,080 --> 00:06:36,720
Speaker 2: David joins us from our studios in Singapore. Thank you

114
00:06:36,760 --> 00:06:39,240
Speaker 2: for being here. This was not a surprise that the

115
00:06:39,279 --> 00:06:42,479
Speaker 2: FED Fund's rate was left unchanged so far, though, it

116
00:06:42,520 --> 00:06:46,040
Speaker 2: seems like the war has been a dollar positive story

117
00:06:46,080 --> 00:06:49,080
Speaker 2: because of what's been happening with crude oil. What is

118
00:06:49,120 --> 00:06:52,240
Speaker 2: your expectation, David, given everything that you heard from the Fed,

119
00:06:52,720 --> 00:06:55,320
Speaker 2: will the dollar remain strong or do you see some

120
00:06:55,360 --> 00:06:57,719
Speaker 2: sort of risk now that things could falter?

121
00:06:58,400 --> 00:07:02,080
Speaker 3: I think, I mean it's a RISKSU skew towards dollar strength.

122
00:07:02,520 --> 00:07:05,720
Speaker 3: At the moment, we don't see any near term end

123
00:07:06,120 --> 00:07:09,680
Speaker 3: to this warder on and with the escalation on the strikes,

124
00:07:10,040 --> 00:07:13,200
Speaker 3: all prices are pushing higher, which adding to inflation. Expectations,

125
00:07:13,600 --> 00:07:17,440
Speaker 3: and therefore you're seeing the expectations for market expectations for

126
00:07:17,520 --> 00:07:20,640
Speaker 3: FED rate cuts dial back quite severely. If you think

127
00:07:20,680 --> 00:07:23,600
Speaker 3: of before the war started, I think the market was

128
00:07:23,640 --> 00:07:26,520
Speaker 3: priceding sixty one basis points of FED rate cuts this year.

129
00:07:26,680 --> 00:07:30,440
Speaker 3: Now it's down to fourteen, so considerable adjustment being made.

130
00:07:30,560 --> 00:07:32,480
Speaker 3: And I think if you look at the FED dot

131
00:07:32,520 --> 00:07:35,520
Speaker 3: plot yesterday, there are signs in there that even yes,

132
00:07:35,920 --> 00:07:38,040
Speaker 3: one rate cut was predicted this year, which was in

133
00:07:38,080 --> 00:07:42,200
Speaker 3: line of expectations, and the same at the December dot plot,

134
00:07:42,280 --> 00:07:46,000
Speaker 3: there have been subtle adjustments for number of FED governors

135
00:07:46,160 --> 00:07:49,520
Speaker 3: predicting two rate cuts was reduced from eight in December

136
00:07:49,560 --> 00:07:52,760
Speaker 3: down to five. And then the long term or the

137
00:07:52,800 --> 00:07:55,760
Speaker 3: neutral rates we say, basically edged up from in the

138
00:07:55,800 --> 00:07:57,880
Speaker 3: dot plot edged up from three to three point one

139
00:07:58,000 --> 00:08:01,600
Speaker 3: two five percent. So the hawk is sentiment is starting

140
00:08:01,680 --> 00:08:04,720
Speaker 3: to build again. That could change, but you're seeing that.

141
00:08:04,840 --> 00:08:07,040
Speaker 3: So the idea of that that adds this idea of

142
00:08:07,240 --> 00:08:09,960
Speaker 3: dive back the expectations for red fray cuts, which is

143
00:08:10,000 --> 00:08:12,640
Speaker 3: dollars positive. So in the new term, yes, you would

144
00:08:12,680 --> 00:08:16,120
Speaker 3: save anything, not hugely unexpected what it did, but it

145
00:08:16,160 --> 00:08:18,560
Speaker 3: does add to the idea of that it's you know,

146
00:08:18,880 --> 00:08:21,000
Speaker 3: not a tail wind for dollar sentiment.

147
00:08:21,400 --> 00:08:23,720
Speaker 2: So, David, you and I both remember that coming out

148
00:08:23,800 --> 00:08:26,440
Speaker 2: of the pandemic, the FED held to this idea that

149
00:08:26,640 --> 00:08:29,440
Speaker 2: inflation was transitory, and at the end of the day,

150
00:08:29,480 --> 00:08:31,920
Speaker 2: it proved to be a lot stickier than people had imagined.

151
00:08:32,440 --> 00:08:35,000
Speaker 2: I'm wondering whether the risk for the market right now

152
00:08:35,240 --> 00:08:38,280
Speaker 2: is even when the dust on the war settles, there

153
00:08:38,280 --> 00:08:41,440
Speaker 2: are simply too many unknowns on the inflation story.

154
00:08:41,960 --> 00:08:44,560
Speaker 3: Yeah, I mean, there's obviously that's a worry that inflation

155
00:08:44,640 --> 00:08:49,360
Speaker 3: expectations become unanchored again and start to push higher again.

156
00:08:49,600 --> 00:08:51,960
Speaker 3: How it really comes back to again that how high?

157
00:08:51,960 --> 00:08:54,720
Speaker 3: How long? Like you know, if hypothetically the wars end

158
00:08:54,800 --> 00:08:58,839
Speaker 3: in two weeks, and you'd guess that oil prices would

159
00:08:58,960 --> 00:09:01,280
Speaker 3: drop quite quickly, and then so we go back. The

160
00:09:01,320 --> 00:09:05,640
Speaker 3: market moves forward very very quickly. Indeed, So it really

161
00:09:05,679 --> 00:09:08,400
Speaker 3: is this uncertainty of how long, and obviously we don't

162
00:09:08,440 --> 00:09:10,280
Speaker 3: have that answer, you know, too readily. It could go

163
00:09:10,320 --> 00:09:12,520
Speaker 3: on two weeks, it could be two months, it could

164
00:09:12,520 --> 00:09:15,520
Speaker 3: be six months. We just don't know at the moment,

165
00:09:16,280 --> 00:09:18,560
Speaker 3: and that's why I think keeping the market uncertain. But

166
00:09:18,640 --> 00:09:20,720
Speaker 3: what we do know is the longer it goes on,

167
00:09:21,000 --> 00:09:24,680
Speaker 3: that's certainly not good for inflation expectations, which you know

168
00:09:24,760 --> 00:09:27,720
Speaker 3: does put pressure on the FED certainly to leave rates

169
00:09:27,800 --> 00:09:30,079
Speaker 3: unchanged for upcoming meetings.

170
00:09:30,600 --> 00:09:33,280
Speaker 2: I'm wondering, given the level of uncertainty as a result

171
00:09:33,280 --> 00:09:36,679
Speaker 2: of the war, whether there is a risk small as

172
00:09:36,720 --> 00:09:38,880
Speaker 2: it may be, that the next to move on the

173
00:09:38,920 --> 00:09:41,160
Speaker 2: part of the FED is a rate hike. Is that

174
00:09:41,240 --> 00:09:42,000
Speaker 2: too much to say?

175
00:09:42,840 --> 00:09:44,800
Speaker 3: Yeah, I think he can never say never. I think

176
00:09:44,840 --> 00:09:47,520
Speaker 3: Fed chair power is interesting. He certainly said, look, we're

177
00:09:47,559 --> 00:09:51,080
Speaker 3: not at that stage yet, and I think for that

178
00:09:51,200 --> 00:09:54,360
Speaker 3: to come to fruition you would need, you know, oil

179
00:09:54,400 --> 00:09:58,040
Speaker 3: prices to elevated for quite a long while, and that

180
00:09:58,120 --> 00:10:02,120
Speaker 3: really feed into inflation expect INFLA and ex inflation expectations.

181
00:10:02,160 --> 00:10:05,839
Speaker 3: So while you can never say never, I think at

182
00:10:05,880 --> 00:10:08,960
Speaker 3: the moment the sentiment is, look, we need certainly a

183
00:10:08,960 --> 00:10:12,040
Speaker 3: lot more data for that to happen. It will take

184
00:10:12,200 --> 00:10:14,720
Speaker 3: several months for that to feed through to economy. So

185
00:10:14,760 --> 00:10:17,920
Speaker 3: at the moment, the idea of a one rate cut

186
00:10:18,000 --> 00:10:22,000
Speaker 3: is still on the priced in is fair? The Fed

187
00:10:22,240 --> 00:10:24,800
Speaker 3: is saye, but as we know they've always said, look,

188
00:10:24,800 --> 00:10:28,480
Speaker 3: the data dependent. Ironically, now it's state dependent slash war

189
00:10:28,559 --> 00:10:32,240
Speaker 3: dependent how long this goes, And again we have an idea.

190
00:10:32,400 --> 00:10:36,600
Speaker 3: President Trump has indicated we may be nearing an end.

191
00:10:37,320 --> 00:10:39,320
Speaker 3: Whether that comes to fruish or not, we will see.

192
00:10:39,559 --> 00:10:41,960
Speaker 2: In terms of the currency behavior, I'm looking at a

193
00:10:42,000 --> 00:10:45,959
Speaker 2: euro at a buck fourteen a yen that's just shy

194
00:10:46,200 --> 00:10:49,360
Speaker 2: of one sixty against the greenback. What are the currency

195
00:10:49,400 --> 00:10:51,800
Speaker 2: crosses that you're looking at most closely.

196
00:10:52,480 --> 00:10:56,200
Speaker 3: Against consis So obviously, if you want to take dollar

197
00:10:56,240 --> 00:10:58,480
Speaker 3: out of the equation, which a lot of traders try to,

198
00:10:58,520 --> 00:11:00,600
Speaker 3: because you're basically just if you trained dollar, you're heavily

199
00:11:00,679 --> 00:11:04,920
Speaker 3: just trained headlines at the moment. So ones that certainly

200
00:11:04,920 --> 00:11:08,520
Speaker 3: popular are the Ossie crosses. The ossie given the RBA

201
00:11:08,720 --> 00:11:12,680
Speaker 3: sentiment of hawkish sentiment, so any Ossie costs certainly, Ossie

202
00:11:12,720 --> 00:11:15,559
Speaker 3: Kiwi has been a very popular coss that's been traded

203
00:11:15,800 --> 00:11:20,640
Speaker 3: relatively heavily. I say relatively because Ossie dollar Oussie dollar

204
00:11:20,720 --> 00:11:23,079
Speaker 3: versus the greenback was quite heavy trading because it's a

205
00:11:23,120 --> 00:11:25,480
Speaker 3: bit more liquid. But Ozzie kiwi's been a popular one,

206
00:11:25,520 --> 00:11:27,600
Speaker 3: and that's been just going high and higher. So that's

207
00:11:27,600 --> 00:11:30,240
Speaker 3: a popular trade. As side of that, you know, I

208
00:11:30,240 --> 00:11:32,360
Speaker 3: think you're looking at. You want to keep an eye

209
00:11:32,440 --> 00:11:36,120
Speaker 3: on certain of SMB. Today's your Swiss Frank. It's sort

210
00:11:36,160 --> 00:11:39,480
Speaker 3: of it has picked up from a bottom. But I

211
00:11:39,559 --> 00:11:41,440
Speaker 3: think the question is, you know with s and B

212
00:11:41,559 --> 00:11:44,400
Speaker 3: Swiss National Bank today, is you know they don't like

213
00:11:44,559 --> 00:11:47,320
Speaker 3: this the strong Swiss Frank. They said that several times.

214
00:11:47,600 --> 00:11:50,280
Speaker 3: You know how much you know, how I would alsay

215
00:11:50,320 --> 00:11:52,280
Speaker 3: hawkish because I don't think they're going to raise rates obviously,

216
00:11:52,320 --> 00:11:55,120
Speaker 3: but how much they pushed back are gone, you know,

217
00:11:55,200 --> 00:11:57,760
Speaker 3: on this Swiss Frank strength. I think that's gonna be interesting.

218
00:11:57,840 --> 00:11:59,959
Speaker 3: So that's another cost I'd keep an eye on.

219
00:12:00,320 --> 00:12:02,320
Speaker 2: David, we'll leave it there. It's always a pleasure. Thank

220
00:12:02,360 --> 00:12:05,800
Speaker 2: you so very much, a Bloomberg strategist. David Finnerty joining

221
00:12:05,840 --> 00:12:10,520
Speaker 2: us from Singapore here on the Daybreak Asia podcast. Thanks

222
00:12:10,520 --> 00:12:14,120
Speaker 2: for listening to today's episode of the Bloomberg Daybreak Asia

223
00:12:14,280 --> 00:12:18,760
Speaker 2: Edition podcast. Each weekday, we look at the story shaping markets, finance,

224
00:12:19,080 --> 00:12:22,160
Speaker 2: and geopolitics in the Asia Pacific. You can find us

225
00:12:22,200 --> 00:12:26,440
Speaker 2: on Apple, Spotify, the Bloomberg Podcast YouTube channel, or anywhere

226
00:12:26,440 --> 00:12:29,520
Speaker 2: else you listen. Join us again tomorrow for insight on

227
00:12:29,559 --> 00:12:33,720
Speaker 2: the market moves from Hong Kong to Singapore and Australia.

228
00:12:34,120 --> 00:12:36,600
Speaker 2: I'm Doug Prisner, and this is Bloomberg