tv Bloomberg Daybreak Asia Bloomberg November 22, 2017 7:00pm-8:00pm EST
♪ are live from bloomberg's asian headquarters. welcome to "daybreak asia." the fred admitted policymakers remain concern about stubbornly low inflation. fomc is divided on strategy for the coming years. welcome to bloomberg's global headquarters. just after 7:00 p.m. on wednesday. jamie dimon cannot wait to return to china and said they will take more taxes in the u.s. if necessary. is the pboc a poison challenge? they face a string of headaches, not least of which china's
ballooning pile of debt. >> go straight in a breaking news and data out of singapore releasing their gdp numbers. let's go to haslinda allman. numbers. sean the strongest quarter in about three years. gdp coming in a 5.2%. at a 5% estimate. 2.9% the quarter before. quarter and quarter we have 8.8% before manufacturing going game busters up 18%. the government has revised gdp andthe year between three three point 5% between one to 1.5 to three and a half percent.
this is like the optimism express. remember, he said gross for the year may exceed 3%. that is coming through. some economists have already raise their own estimates for the year. looking at about 3.2%, its previous estimate was 2.8%. as you know, singapore, highly intertwined with a global economy. it is benefiting from the recovery in global trade. byufacturing is lifted demands. trade rose 12% year on year, building on the 9% increase for the last quarter. other industries, like services, are also showing improvement. just singapore, we are seeing solid gdp numbers across southeast asia. malaysia, thailand have all reported the strongest growth in years. all beating estimates, all amid
the fed. caution is the word. it has to push through with economic restructuring if it wants to keep growth sustainable. let's talk about inflation data. what is expected that is due out later today? haslinda: about 1:00 p.m. in singapore, it is expected to come in at 1.5% year on year. it has been well below historical averages. likely to change anytime soon, but, if the economy picks up stronger than expected, then there will be some pressures. when we spoke to the authority of singapore last month, he sounded a note of caution. he said inflation will climb at some point. under those circumstances, they need to be forward-looking. timesore eased three between january 2015 and april of last year.
kept a neutral currency bias. a zero depreciation given subdued installation. it would tie in next year by seeking a slight depreciation and the exchange rate or that is one thing to watch. on those breaking singapore gdp numbers on what to expect later today. let's go to the first word news. uber is up, over is -- facing three investigation a broad and called to testify between congress and reaction to its covered up data breach. italy, the netherlands and the u.k. are looking into what they lack ofobvious security. while the federal trade commission in washington is urged to step in. hackers toen paying keep silent about last year's attack. the chances of a new brand coalition in germany seems to be
rising, with senior members of the social democrats thinking they can name their price for rejoining chancellor merkel's team. others are adamantly opposed to the idea and are prepared to face a new election. the chancellor has ruled out trying to form a minority government, and indicated she would prefer to go back to the voters. boss is calling for a competitive tax system in the u.s., and says if he has to pay more, so be it. comments at the economic club of chicago, he said he felt bitter about the banks treatment following the financial crisis and said he would never trust the government again. he also commented on china's decision to relax the rules on foreign ownership and said jpmorgan is raring to go. >> they tied my hands. the american government -- to compete with them, and the chinese too. now it is time to let me go. i want to compete there. billionaire investor, mark
cuban, has a question for president trump, asking if you knows how big an impact alibaba has had on the stock market. by percent of the increase in stock market value, two hundred 50 billion dollars and seven point five times our trade deficit with china has gone to one chinese company. alibaba shares have almost tripled to that $190 since its 2014 ipo. there has been no response from the white house. 24 hours a day powered by more than 27 hundred journalists and analysts in more than 120 countries. this is bloomberg. let's take a look at how the market open. cannot quite call it a market open here today. korea, an hour later when they start treating. what are we looking at? >> a little lowly start to her it we have stocks and wellington
and sydney on the move. we are expecting a light day of trading, especially after the tepid handoff from wall street. shares in australia are taking a breather with most groups losing ground. oil holds near it two-year high and metals rose. old is now giving up some games sparked by -- as the fed made its view to the dovish and. other g10'sng with under pressure. the kiwi falling the most against the dollar this morning. below 112, treating your, a nine week high. check out the ringgit up one third of a percent trading below for 10. this is a hawkish central bank. we do have strategist saying that with election booming, that may provide speed bumps for the rally for the malaysian ringgit. let's get a check on the seeing dollar. -- for the dollar.
very exciting after a two-day rise. it has been about 6% against the greenback in the past 12 months, which has made pressures and may take into account what the siding if they will pull the trigger on tightening in the first half of next year or in the back end. i am showing you stock movers in sydney this morning. online travel pair falling to a january low. creditdowngraded to sweep. automotive holdings is on the refrigerated logistics to hna. a pretty lowly start to this -- lonely start to this day. with the start to the markets in asia. janet yellen is not the only official saying doubts about inflation moving higher. the member -- the moment of the
meeting shows a deeper than ever divide between policymakers betting inflation on the verge of accelerating and those who say rates should not move higher. bloomberg global economic policy maker here with a testing -- with digesting these minutes. >> there are worries about week inflation's getting stronger and it is not surprising. the longer inflation has fallen and stayed low and not moved up, even with unemployment, just hovering above 4%, it would seem logical that people with the carter. including janet yellen, who just spoke in new york and warned more emphatically than she has in the past about the dangers of inflation. even though she still says there are reasons why inflation can and will move higher next year. fomc minutes were interesting. even though many officials were in favor of hiking rates in the
near terms, specifically december, they showed a deeper divide over inflation. , that probably means more than half, that is the consensus, they were ready to hike the key rate in the near term. the march rate hike seems to be in question and the rapidity of hikes in 2018 as well. also, a few at the fed saying inflation must arise before they agree to vote for another rate hike. that is pretty important as well. they all agreed they will monitor inflation developments closely. there was a lot of talks about -- tax reform as it goes through, tax overhaul, tax cuts that help boost that. there is a concern about a growing asset double. it is not like it was all on the week side. of agreement about growth, less about inflation. the dollar fell and the bonds rallied after minutes were released. is this market doubting the fed's rate path in 2018?
kathleen: they are certainly wondering. let's go to your bloomberg. there was such a strong consensus for rate hikes in 2017 , probably why everyone is on board for another year. there is a consensus, but which way will it go if inflation stays weak? few inflation security could grow to many. there is a dovish tilt to this minutes. maccarthy sees hot this graduates who are looking at a stronger economy who do not want to fall behind the curve. called versus what he perpetual pessimist. he said we should be glad for the hawkish gradualist. that is a mouthful. david buckle was very clear on bloomberg television. of the investment solutions group. he thinks it will be much harder
for the head fed to do those three rate hikes next year. but listen. >> it is all about inflation. the december rate rise will happen. having read the minutes, it would not surprise me if it is not unanimous. i think the big question is, what happens in 2018? will see enough inflation for the three rate rises that they are suggesting for 2018. yes the fed will probably raise the rates, but they will also have their economic projections. it will be interesting to see if the dots pull away from three rate hikes. see a consensus around the lower number. certainly, very interesting for jay powell, who will be the next fed chair, as he is approved by the senate to take over at the time when this whole conundrum seems to be a lot more trouble for the fed in 2018. heelan his tour before
starts. our global economics and policy editor. shoppers around the world maybe going online in record numbers, but british retailers say there is still room to grow in bricks and mortar. later, we are joined by that managing director. just ahead we talk risk and geopolitics of a global macro hedge fund that says a threat from pyongyang is taking it away from south korean markets. this is bloomberg. ♪
singapore's global macro is enjoying a 47% gain. the funds 2017 surged through october has been the world's best performer a lot -- among macro funds. joining us now is the macro's deputy fund manager who joins us live from the lion city. thank you for joining us, and congratulation on the performance this year so far. what you have to say for those that say macro is dead? or you woulday -- probably disagree with that -- but why do think it has been a tough year for macro funds out there? you.ank i think many macro funds adopted very different philosophies compared to us. they are very concentrated while we seek to diversify and optimize and use leverage in
order to maximize. it is a different philosophy that has carried us this far. >> you have already dialed back risks in your fund. you have delegated one third of risks to equities, one third to bonds, as well as currencies. do you think you can generate that same return in 2018 with this type of investment strategy? august: yes. we are not betting on a single event. i think diversification is the key to our performance. yes, we do dialback because we think that the markets are not very volatile. there ise that potential for surprises to come in the horizon. it is betty here in new york. we heard so much about macro hedge funds failing and underperforming.
you think part of your success has to do with the smaller side of your hedge fund under $1 billion, and the fact that a good amount of that money is and your in-house, versus outside investors? hasst: it certainly positive benefits for us because we have more leeway. however, the philosophy of the strategy is to run at the high fall. it is like driving in f1 car. you diversify, optimize your race. you use leverage prudently. then you expose the entire outside returns. even though we are managing outside money, i think the reason they are coming to us is because the outside return. the way we manage risks has been proven throughout the years. betty: given that and the story that ran on bloomberg that talks
about your performance, are you getting a lot more phone calls? are you seeing a lot more flows? are you accepting more flows into your fund? august: yes. we actually only opened our funds for outside investors since february 2016. a lot more inquire we's since last news and bloomberg -- inquiries since the last news and bloomberg. betty: let's pull up the chart on stocks and how much they have risen. some might say, if you take a look at where stock markets, august, have gone up since 2012, a lot of it has to do with the monetary stimulus. -- they madeture the bet on easy money, they did well -- gimme the picture for 2018, because it is very uncertain, right? how long that stimulus will stay and what each of these banks are going to do.
august: all right. for next year we are basically looking forward to a climate where central banks seek to promote stability. they will go carefully, they will tread carefully and they are very dovish. it is still lower for longer for interest rates. we are watching the political and geopolitical space carefully. this is where the surprises will come from. central banks will basically be very careful not to derail the growth that has been happening so far. political surprises is something that you cannot predict. we will be watching carefully, we will stay diversified between the three risk factors we have. watching outays for black swan. top of your list is north korea? because this is something that will affect the
north asian economies. we have been out from south korean markings -- market since early september -- markets since early september. will pushorth korea its agenda to become a full-fledged nuclear state in the years to come. in order to get to the negotiating table, and a very strong position with the u.s. >> thank you for sharing your views with us. with asia financial services, deputy fund manager. you can find in-depth analysis on bloomberg radio. tune into "daybreak asia" at 7:00 a.m.. it via bloomberg radio.com. this is bloomberg. ♪
>> this is "daybreak asia." i am betty liu here in new york. we have been focusing on business leaders that are helping transform china's greater bay area. the plan is to connect nine cities with hong kong to create this hub of innovation and technology that rivals silicon valley. joining us from beijing. the focus today has been on health care and ai. what are we seeing when it comes
to development around artificial intelligence coming out of this greater bay area? om: we have been speaking to the vice president of a company called i fly, which is little known outside of china, but within china it is probably the leading ai company that has been picked by policy makers here in beijing to be a national champion in terms of driving ford the artificial intelligence agenda, along with the likes of baidu, tencent and alibaba. recognition, voice image recognition, machine learning and robotics work to expand their footprint in sectors like education, high-tech, learning and they have invested in companies like japan and israel. they bought a company around virtual reality, but they are also focusing on health care. that is why we are talking about ai and health care, basing their product and health care being used to closely automate and synchronize from the health care
sector and products. tot is something i talked the vice president about. i also talked about there are in d spending. a lot of their ai is generated by heavy spending on the fund. listen to what she had to say. >> we are extremely confident with ai's industrial prospect in three-five years. we must continue to increase our investment and catch the window to establish daily use of ai technology. on the other side, we have seen 30% to 50% annual growth through -- during the past few years. i were revenue has grown by over 100%. the real profitability stays at a relatively low level. that is the result of in capital important to r&d. the vice was president. there are pushing into the health care sector. they had developed a robot that can take in patient information and make diagnosis. it passed a test and passed a medical licensing test.
more accurately predicted and was able to better diagnose a records orealth illness is better than a human doctor. tot is something they want see rollout in 2018. these robots who can work alongside doctors to help with diagnosis and treatment. tom mackenzie there, our china correspondent from beijing. this get a check of the business headlines. systems rose to a two-year high after a takeover offer. some say could top $10 billion. talks between amsterdam-based axel global. said there is no guarantee a deal would be reach. it is a bigger shareholder for the holding just under 10%. betty: a log and consoled your to do list. a look at the tough task face -- facing the next pboc governor. this is bloomberg. ♪
>> it: 30 in singapore. we just got the gdp numbers that were beating expectations for the third quarter. final numbers coming at 5.2% year on year. the fastest growth we have seen in over three years in the lion city. betty: things looking up there in singapore. you are watching "daybreak asia." let's get to the first word news. morgan has, j.p. welcomed china's decision to relax the rules on foreign ownership. he says he is raring to go. wide raging comments at the economic club of chicago, he said he felt bitter about the
banks treatment following the financial crisis. he said he would never trust the government again. also called for a competitive tax system in the u.s. and says if he has to pay more, so be it. >> we should get rid of deferrals for hedge funds. if you want to raise my rate, so be it. whatever you do, do not have an uncompetitive tax system and a very competitive world. that is not safer america. to confuse the two is a huge error. zimbabwe's interim president flew home from south africa promising "a new unfolding democracy. " he will be sworn in on friday and will be the ruling party's candidate in presidential elections next year. he is a former spy chief and it was his hacking that led to the downfall of the former president. said to be above 90%. the u.n. hedge tribunal has
forced the military commander to life in prison for genocide and crimes against humanity. that includes the massacre of around 8000 muslim men and boys in 1995. europe's worst atrocity since world war ii. the verdict is alas for the tribunal, which has convicted 88 people for war crimes committed in the former yugoslavia. a police operation is underway and papa new guinea to forcibly remove about 400 essilor and seekers from a former australian detention center. leaven have refutes to despite australia cutting off food and water three weeks ago telling the group to move to a new residential facility. they arem seekers say not safe in the communities and the center is unfinished. global news, 24 hours a day powered by more than 27 hundred journalists and analysts in more than 120 countries. this is bloomberg. let's look at the markets.
aussie shares, investors get a bit of a breather today. , anotherhat 6000 mark day. let's go to sophie with what is booming. sophie: inspiration when it comes to the sydney session. the benchmark could halt a two advice. utilities is the biggest drag along with discretionary and real estate stocks. the i.t. sector is bringing gains, that could change the mood a bit. energy producers as well as miners are tracking recent gains in oil and metals. you have gold miner evolution gaining over 2%. energy producers are also on the rise. it is automotive holdings that is leading on the sale over refrigerator logistics. upgraded and the stock is at a fresh record high.
taking a look at this, you have a web jet under pressure. it was downgraded to neutral at credit's week -- credit sweet. this is falling the most since august as the acceleration of an investment plan is seeing weighing on 2020 earnings. health care is the worst performer so far in sydney. been mixed.have checking on tax groups in sydney. it is sliding today. the company has postpone its agm december 12. reasons for granting cap courts four prince of a billion dollar takeover of tax. -- $4.7 billion of takeover attacks. >> a series of worsening headaches, not the least of which china's ballooning debt piles. bloomberg's asia manager has been looking into this.
it is a pretty long checklist of things he needs to tackle. i guess the question is, who would want to take this job? >> it will be a tough one. we should start here with a qualifier. we don't know when this will happen. last month we had a hint from the press briefing. he said he may retire soon. that is about the firm's fact we have ever had on this. there has been speculation in the past that he would retire and we were proved wrong. let's assume that soon as sometime between now and march. let's assume the new chief comes in. that will have a pretty long to do list, top by this huge debt problem that is swelling by the day. bloomberg intelligence economist estimates that by 2022, china's overall debt will be about 327% of gdp. that puts it among the most indebted countries. it is not the area.
that is why it has been somebody measures recently. more measure since the congress a month ago to try to curb the growth in this leverage. they want to keep going to the real economy, that is crucial, otherwise it will fall over. any to curb excessive growth rates and debts that are swelling in state owned enterprises. also curb some of the financial speculation. >> we have certainly heard the warnings throughout the party congress and developing these minsky moments that china could be facing in the future. he has had the most longest standing of central bankers in the world. what kind of legacy does he leave? he was one of the ones that developed this long array of instruments to guide market rates in china overall? malcolm: there has been around 15 years. been there,inly done that and has been renowned as one of the key proponents right across those various
people. for reform, he is opened up thinking. that is the latest step that he can maybe take credit for. that is just the latest move, but he has removed some financial repression that was so harsh on china's savers. banks have more liberties to set their own deposit and lending rates. he has freed up the yuan and that has maybe gone the other ways to put a lid on those capital outflows. he has been a proponent of china's opening. still remains a very vocal proponent. the one caveat that anyone can point to is the rapid -- rapid debt growth. those are certainly some tough shoes to fill. our asian managing editor for economics. our look at the future of health care. a look at a revolutionary paralyzedthat allows
>> this is "daybreak asia." time now for our weekly look at the future of health care. university of melbourne pioneered the bionic ear and -- forrevolutionize stroke victims. a team of researchers is combining those techniques to develop a brain implant that may one day help paralyzed people walk again. i want to bring in david from the university departments of biomedical engineering, who largely is overseeing this project. exactly what is this in plan, how does this work? implant works by
essentially placing electro thennts onto a stint, placing that within a blood vessel in the brain. the reason we want to do this is because we want to record the brain signal directly so that people will have mobility disorders, moto neuron disease in particular, can use it to control a computer, or control other external device. need to do isy think about it and there limbs will move -- and their limbs will move? how does that could transfer to physical movement? is exactlyen: that it. we want to record their brain signals as they think about moving their legs, then have a computer d code that signal and transfer that through to an exoskeleton. used through a robot arm, or use to control a spelling device for talking and so on. betty: has this been proven to
work in humans? heavy only experimented first with animals? how sure are you that this will work? so far, we are still in what is called the preclinical trial phase. we have been testing the device in sheep. we use them because they have large blood vessels in the head, similar to humans. we find that we can record the asin signals just as well other more invasive technologies that are placed directly on the surface of the brain through the skull. in terms of decoding the signal, we know that we can do that the kos other researchers have been using these other, more invasive devices to do similar things to what we want to do. there has been a lot of activity in the space. just in the past year for narrow rings, the startup was cofounded by elon musk. they had plans to develop these
brain machine interfaces to connect machines and computers. why do you think there is so much activity in this space rayna -- space right now? prof. grayden: there are two reasons. one is that we are understanding more about how the brain works and how we can connect computers to the brain. the other is because the technology is there. the ai technology to be able to decode those signals as improved a lot over the last few years. that is making applications of these devices really feasible. yvette: had he see this evolving in the next five or 10 years? prof. grayden: initially it will help people with disabilities. i think that, people that have motor neuron disease, stroke, paraplegia, especially returned servicemen who have suffered bad injuries, these people will benefit i -- benefit a lot
within the next five years or so. beyond that, maybe people with less severe disabilities could also receive a device like this. maybe, in the future, fairly distant future, after being shown to be completely safe, maybe even normal people could receive these devices of a form of augmentation. up a brave new world. summoning possibilities. i am interested to see why the u.s. military is in support of this. prof. grayden: i think it is largely because of the wounded soldiers. -- in the battlefield, are now receiving major injuries and surviving those injuries. they have a wall life ahead of them. these sorts of devices may really help them to have a more independent life. yvette: david great in, the head of -- david graydon the head of
>> this is "daybreak asia" ." the u.s. is marking thanksgiving on thursday, followed by one of the biggest retail days of the year. that of course is black friday. consumers are getting ready to open their wallets for the holiday season. ramy is at the wall with the bloomberg chart that you need to know. interestings really is his first full-screen i want to show you. in yellow are the people who actually want to shop at stores for this black friday. one of the biggest shopping days of the year. it actually beats the people who plan to shop online. this is according to a retail survey. some 70% of respondents said they want to shop in physical spaces. is actually more interesting, the 47% say they want to shop online. this is falling year on year. 47% versus 55% last year.
with that said, come to the left-hand side of the screen. i want to show you the first bloomberg terminal chart. g #btv 1928. what you are seeing in terms of this white line is mobile ofommerce has a percentage total retail e-commerce. we are looking up something at a high. 22.4% total. deloitte is saying that this is expected to grow in terms of double digits as we move ahead. , thee order of 18% to 21% reasons are, wage growth rising. consumer confidence also rising. employment is also rising. with that said, let's continue where this is going. are, 3932.e we the e-commerce takeover is continuing a pace. the yellow line here is electronic shopping and mail orders. we can see this rising in the
order of 45%. as that grows, of course all the places that we need to store things also needs to grow. that is why we are seeing the white lines that talks about warehouse is rising. we can see the continuous fall department stores falling over the past several years. 7676,he quickly, g #btv compare this to what is happening at chinese e-commerce. rises happening in the u.s. there is a tsunami with chinese e-commerce rising by 34%. yvette: certainly is a tsunami to click to read our next guest thinks the failures we are seeing in global retail are self-inflicted. joining us now in hong kong is harrods managing director. welcome. the retailers are doing this to themselves, what is luxury and global retail are doing wrong? michael: what you see on
e-commerce as an amazing bout of innovation. a lot of departments -- department stores are not sharing the animation. if you go to london and go to harrods you have innovation of what it should be. >> how clean go head-to-head with the far fetches of the world? teaming up with designers to sell directly. the success of this goes to show that consumers are willing to buy online at undiscounted price is right now. michael: you can buy online, but you should go to bricks and mortars. five years ago we had a parade. this year we had all of them team up with culture -- dolce and gabbana. christmas tree and fashion show with over 100 models. making it really relevant to today's customer. i think it is making sure you keep it relevant and that is what we always try to do at
harrods. betty: how much revenue do generate from your website? small part,ine is a but it is important in order to serve customers in hong kong and china to get the same experience. thise: even talking about magazine in southeast asia to try to get shoppers from this part of the world to go to harrods. just wanted to zoom in on the chinese consumer. this is a very big market. what are you doing in terms of tapping into this market right now? is it tough given such an english brand that harrods has to get into the taste of the chinese consumer? michael: they absolutely trust the harrods brand. if you're going to buy the most beautiful product, what better can you have been to have the three ticks. you bought this gorgeous bran, you have been to london but you bought it from harrods.
you cannot have better authority than that. betty: i am curious about talking about online versus bricks and mortar. onlinethink part of the -- sort of the growth of online has been for the mass consumer is a part of the protection and other luxury retailers have is because it is in the luxury offers a little bit of a buffer from those who are just price conscious and go straight online shopping because of prices, mostly? is anl: i think there element of that. for instance, we would do black friday. that is nine our dna. we want to make sure you have brands and products that you can find nowhere else in the world. that is what drives customers to bricks and mortar. it has to be supported by a great e-commerce offer, which we have. it has to be rare in this, uniqueness and something you cannot get anywhere else. betty: do you think black friday
cheapens your brand? michael: absolutely. so none of these promotions, discounts, in your view, you don't want to participate in any of that? absolutely not. we want to have gorgeous products that you cannot find anywhere else, and we want to sell them at full retail. youy: are you worried that might be one of the only few who advocates a strategy like this? michael: last year we did a 27% like for like sales growth. if we were dinosaurs i love to continue being the same dinosaur. betty: and you are not worried about amazon? amazon is more of a technology company than a retail company. but amazon cannot re-create them magic of harrods in london. that is the point that we have to continue to develop and grow
their brand. when you, mind, you have a great experience that is unique to you, that is different. europe a few in months ago and i was tax to buying a wallet from a cousin. she said don't get it in paris she said get in london. top a little bit about the brexit impact that you could be facing. michael: wrecks it has been great from a perspective that anybody who comes to lending gets great hotel deals and london is a great place to be. at the moment, within three months you have an equalization of luxury brands. it is not a price driven thing hotels,oment, but the the restaurants, they are really good values at the moment. ward managingl director. i always like going to london as well. time for a quick check on what's going on for the next hour on "bloomberg markets."
what do you have going on today? we will talk about what's going on asset wise and what will drive is really further. andave times of struggles manages to lift up your what a day yesterday, was in it? up hisanagement, looking company. we will be talking to him in about 45 minutes. joining us to look at the prospects. us toe ceo is joining talk about the intelligence. and brent china is not all this right now. , evengiven the lead though many u.s. companies are ahead of what has been going on in china. chinese companies are catching up with some degree of rapidity. he is the nikkei ceo to talk about the prospects of that. also, a general look at what is going on margaret -- market
wise. betty: thank you. vonne: i am --ou y i am headed off to my thinks giving dinner. surprisinglyic moving quite well in some of the big cities. l.a., i am told is experiencing that nightmare traffic. what is interesting is that so maybe but have been freaked out by the thanksgiving traffic. they have all decided to all leave the day before. now that date seems like the worst traffic day. not tonight. it might be a breeze going home tonight. yvonne: it might be a breeze for you. a lot going on for us and tomorrow as well. what are you going to have for thanksgiving? betty: a lot of people have been asking if i am eating or hosting.
i will be hosting this year. i bought my turkey. it is a fresh kill turkey from a farm in new jersey. it is roasted, yes. it will be for eight people. i am cooking nothing else but the turkey and stuffing. everybody else is bringing something to the table. at this time tomorrow i will be in a food coma. tv to try to turn on the watch you but i might be asleep by then. yvonne: it is ok. happy thanksgiving. asia." it from "daybreak standby for "bloomberg markets" this is bloomberg. ♪