Controversy, but mark said we believe in Free Expression. We believe in political speech, and ads can be an important part of that. Manus the saudi Energy Manager says mohammad bin salman will determine the timing of aramcos ipo, saying it will be soon at the right time. Yousef it is 9 00 a. M. In the emirates. This is bloomberg daybreak asia least. Im yousef gamal eldin. Manus im manus cranny. The bond market, hoping there will be another rate cut in 2020. December might be a debate. Found by seven basis points yesterday, back at 7. 18 . U. S. Treasuries are a must buy. There is risk to the upside. 2 by the end of the year, it is said. Equity futures taking a little higher in the last hour or so on additional traction on the trade front but now the s p 500 is trading 20 times earnings. Some fanfare around Apple Earnings but caution this rally have beenar and they cutting back on their estimates in terms of what to expect in the coming quarters and you could be seen your end around 3000 according to a bloomberg survey. Lets get the other Market Action. Sophie, what is on your radar . Asian stocks are gaining the hang seng heading toward 27,000 points as we wait on a gdp report that may confirm the economy in a recession. Opix fluctuating after the boj stood pat on rates and drop the timeframe of keeping rates low until at last 2020 spring. The aussie dollar, above 69, set for the best month since january, which may be a headache for the rba and onshore you on rising in the face of dollar weakness, 7. 04 as the pboc brings down the daily fixing. Currency traders are shaking off the soft pmi data for october and china indicating a worsening picture for the sector. To you,ood morning india is up and running. What is the story . Devina the fifth day of gains for the indian equities and more interest on the back of betterthanexpected earnings. The first half of the earnings season has not been a disappointment on the side back of the softer cuts that have boosted the bottom line for most companies will. Theop on the nifty, but sensex is close to alltime 40,312 on june 4 this year. As we continue this move, we could create a new record high on the sensex. Aside from that, most indices are doing well in the session. Ip, Information Technology stocks, one of the bestperforming indices we have seen. Broader markets continue to pitch in. Yousef thank you for that, divina, and sophie kamaruddin. Headlines with annabel. hope seven initial u. S. China trade war are in doubt after ongoing protests to cancel the summit where the leaders were expected to sign an agreement. The white house said it will press to finalize the deal in the coming weeks and event organizers say they have no plans to hold the event elsewhere. They also cancel the Climate Conference for september december. The pentagon released footage of the rate that led to the death of the Islamic State leader. The head of u. S. Central command presented the images of the american attack. He said he couldnt confirm president trumps description of albaghdadi whimpering and crying and screaming when he was cornered. Apple thinks the new iphone will help return to growth in the key holiday period. Projected revenues have beat analyst estimates, signaling solid demand for iphone 11 models and services and wearables. By fallingered revenue in many markets outside the americas and a weaker performance from the Mac Computers division. Twitter is banning all political advertising on its platform starting november 22. Ceo jack dorsey said the move is about stopping campaigns paying for reach, not limiting their Free Expression. Targetss ban political candidates and broadbase lobbies. Two exceptions include allowing ads in support of voter registration. Earlier,to Bloomberg Sheryl Sandberg said the platform she works forward not be doing the same. We are not doing it because of the money. This is less them 1 of our revenue and the revenue is not worth the controversy, but what mark said is we believe in Free Expression and we believe in political speech and ads can be a part of that. News, 24elle global hours a day, on air and on tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. Im annabelle droulers. This is bloomberg. Yousef the fed has cut again, reducing Interest Rates by. 25 for the third time this year but Jerome Powell signaled a pause in further cuts unless the Economic Outlook changes, saying he believes Monetary Policy is in a good place. We see the current stance of Monetary Policy as likely to asain appropriate as long incoming information about the economy remains broadly consistent with our outlook of moderate economic growth, a strong labor market, and inflation near our symmetric 2 objective. Manus the bank of japan has maintained its policy rate and its jgb yield as expected. The timeframe was dropped from for the guidance while cutting growth and inflation forecast. We got a great guest who joins us from riyadh. Martin gilbert, vice chairman of Standard Life aberdeen. Great to have you with us. Thank you for getting up early for school. Lets talk about the fed. A shift in the language, theyve removed act as appropriate to maintain the expansion. Is this the fed trying to regraspsome control some control from the markets in the cycle of cuts . I think so. I think the economy is slightly stronger than they predicted with the last quarters figures. Labor market is strong, so i think they are pausing at the moment. We are unlikely to see another rate cut this year and we are unlikely to see a rate rise, as well. Andink it is just a pause they will hold it at this level the rest of the year. Yousef what does that mean for u. S. 10 year yields . You look at the gtb for additional context. Thatis a story of yields have been relatively resilient in the last couple of weeks but Going Forward, given the indications we got from the fed, would you agree with folks at Janice Henderson investors saying 2 by the end of the year . Martin 2 , i think so. Im not sure why youd want to invest in the 10 year bond at case, the, in any platform is better than european sovereigns, but i would agree with that level. Manus ok, martin. If 10 year paper doesnt wet your appetite, emerging markets. Emerging market currency flow and it is clear the fed is on board, it sets up p. M. On one side for a good bid, but you got the china slowdown to contend with. What are you seeing in terms of the flow into some of the em space you look after at the moment in the company . I think the fund that is getting the most flows is the China Asia Fund at the moment. We are fortunate enough that one , ande biggest in the world we are seeing a large percentage of the flows into that he fund that fund. As i said to you before, i think the china asian market is very interesting. There are Good Companies, good quality businesses and we like a re, so the companies the we are seeing flows into that fund at the moment. I think as for china, we dont really foresee a huge slowdown there. I think the domestic market is holding up growth there. Merits of shows the having switched the economy more towards internal growth rather than export led growth. Thatf let me follow up on because we had a china pmi that came out a few hours ago, and it showed a surprise to the downside. Is the pressure now higher on both china and the u. S. To make this phase one deal happen and how confident are you that will actually come through . Im not convinced we are going to see any big movement in the trade war. I just think it is more deeprooted in the u. S. Than people perceive it to be, and i think it is going to take some time if at all in the shortterm, for any big movement. I think there will be some tokenism, some small movement, but i dont really see it improving in the shortterm. As i say, i think it is deeprooted in the u. S. And popular on both sides of the political divide. Manus martin, can we just take that forward a little bit . An interim phase one tokenism deal, do you think that will push the chinese side to respond more with nuanced stimulus . Im thinking more the low crime rate . Prime rate . What is the response mechanism from the china side . Martin again, i dont think they will panic to much, and the perception is china will make longterm decisions. Extremeit would show an sign of weakness if they did situation,is trade so i dont really see a huge amount there, either on that side of the table. You always have an interesting view when it comes to the Bigger Picture theme seen the World Economy is facing. Europe, asia, or the United States, a general push toward easing. How sustainable is that given how quickly that is piling up and growth is not picking up . Worrying. Mean, it is i dont foresee a recession but i definitely see a slowdown in the World Economy, and that is why it is so difficult for cios, the asset allocators in the big asset owners of the world at the moment, because they just cant work out where the best place to put their money is. They can work out were not to put it, but finding summer to put it is very, very difficult for them. Manus martin, we had a couple cohences, jones and talking about the risk of a warren victory. Accordinguld drop to a survey. Is there enough consideration to a political change in the United States in 2020 . Martin what i found most surprising over the last five how the market has shrugged off geopolitical events around the world. It just seems to carry on regardless of risks in the middle east, risks in hong kong, risks everywhere, and sort of goes on. They are either discounting it or for seeing the future better than we are. Yousef hold that thought. We have a lot to get through. That is martin gilbert. But get a preview of what is coming up next. At ameren joins us to discuss the theater chaind pushing to saudi arabia. Manus the election by line has been drawn and Boris Johnson squared off against Jeremy Corbyn in the first parliamentary clash of the campaigns. This is bloomberg. Yousef more lines coming through in averted berdych busy earning season. Dubai investments hold everything from dairy farms to publishers to real estate. A revenue on the Third Quarter of 691. 3 million. Stock has been range bound since june. Other Market Action in this part of the world, lets the Guitar Center qatar center. For on the earnings action in a second but broadly in the gulf, indices higher, led by abu dhabi. That main index up 1. 9 . The saudi will rise 1. 3 and in qatar and dubai, the main indices rising about. 6 . Lets flip the board because i promised some earnings news and the big mover we have seen in days, shares up 14 in the past two days after positive earnings earlier this week. The emirates, missing estimates and dragging the buy index almost 2 dubai index almost 2 . Reporting profits that almost fell 50 from last year. Finally, watching lebanon because the situation, the crisis is deepening. Banks are set to start back operations today and reopen friday. Yields rising past 39 yesterday. We will have to keep watching that as banks reopen. Ththat. Thank you for squared off at Opposition LeaderJeremy Corbyn in their first parliamentary clash on the election campaign. He choose johnson of cutting funds for the National Health service and planning to privatize it. Wouldn said Jeremy Corbyn delivering economic catastrophe for britain and a second brexit referendum would ruin what should be a glorious year in 2020. Still with us from riata, martin gilbert, Standard Life aberdeen vicechairman. Cable has been on quite a run. Gtv for our clients. It is almost the best monthly performance in 21 months but you cant help but think where the polling companies are going to get it wrong again, thinking of the shock in 2015, but to 16, and the 20 2016, and the 2017 election shock. Think yeah, i mean, i boris has positioned this pretty well. Hes realized the country is andd of this discussion wants it finalized. Hes got what he wanted, which is an election that he thinks he will now get a working majority a, deliver able to brexit and b, have a working termity for the fiveyear or whatever term of the next government is. Manus martin, lets walk forward on the assumption the polls are righthanded there is no shock. Lets assume the victory people suggest he has. A more distant relationship and a harder form of brexit, if that is the scenario . Martin i dont think so. I think he will go along with hes done. Ne i think he will not try to reopen those discussions again. Yousef if you think Boris Johnson is going to be successful and that is your base case scenario, are you recommending to clients or you yourself grabbing more u. K. Assets . Martin look, im not good at predicting it. I think that is what his view is and that is what his advisers will be telling him. He has some very good advisers that have delivered victory for the conservatives before, so if that does come to pass, there is cheap,tion that pound is London Property is cheap, and u. K. Equities are cheap. If you do believe that is going to be the result, i would say equities look as good a place to put your money in globally,s anywhere just because they been under this pressure for the last few years. Manus like myself, under loved and underground, and underappreciated. Lets talk about aramco. You are in riyadh. It is the dzhokhar the hallways over the past two days. Would you buy aramco it comes to market . Is this the proposition that will fly on a global basis . Martin it depends on what price it comes at. The decision to list it in saudi is a wise decision. Think if you are not going to lift it on your home market, what message does it send to the other Good Companies in saudi arabia that want a listing in the future. That has been a good decision. The big asset owners of the world could buy a stock in whatever market it is in, so where it is listed doesnt really matter. The fact it goes into the index and the asset owners will decide, the Fund Managers will decide whether they want to buy it or not based on price. Yousef martin gilbert, Standard Life aberdeen vice chairman, thank you for joining us from riyadh. Dont forget to check out our interactive tv function at tv go. Catch up withand past interviews, and diving to the securities or bloomberg functions we talk about. The best part of all of this is you can join the conversation by sending us instant messages during our show. We love to hear from you. This is for bloomberg subscribers only. This is bloomberg. Manus a snapshot of how Global Markets are faring. 9 26 a. M. In dubai. You got msci asiapacific trading higher. Are we at peak centralbank easing mode . Is that what you read from the federal reserves move last night . Threeway cut this year. Traders are banking on another rate cut in 2020, and the dollar has broken some important levels. September slow was analysts say you could get to 1100 but that depends on rate cuts and recession. Everything will be driven by the headlines on trade. Yousef i want to recap what has been happening. Earlier in the day, we headlines from the chinese new is agency news agency saying topic negotiators will hold the phone call friday. Now some perspective from the global times, saying the cancellation is not going to affect trade talks and the trade talks are progressing smoothly. And ar secondary addition confirmation on direction of the ongoing discussions. That is helping u. S. Equity futures tick higher like the strong voices in the background, echoing the sentiments. Manus hopefully somebody in the Sales Department will pick up the telephone call that has flashed to the entire newsroom. Because we do such a great job making the product shine every day when we are on the roads. Yousef going the extra mile. A snapshot of what is coming up. Central banks in the gulf follow the fed, with to wait joining the party for the First Time Since 2012, but will boosting rates slow economies . This is bloomberg. The game doesnt end after that insane buzzer beater. Because with Nba League Pass on xfinity you can watch the out of market games you want all season long. And with the allnew xfinity sports zone, you get everything nba all in one place even notifications about your favorite teams. Watch the dropped dimes, monster blocks, and showstopping dunks. Plus get instant access to your teams with the power of your voice. Thats simple, easy, awesome. Say Nba League Pass into your voice remote to upgrade for a great low price or go online today. Manus midtown manhattan dressed or spookiness. Be a spookyto halloween day in the market . Sluggish start for bonds. It is tough to get up there. By 25 on a war in victory. Moran ms. Warren comes to power. Boris johnson squared off the firsty corbyn in parliamentary clash of the election campaign. Ofemy corbyn accused johnson attempting to privatize says corbin would deliver an economic catastrophe and that a brexit referendum would ruin what would be a glorious 2020. The time for protest is over. It is time for leadership. Calls are mounting for lebanon to impose capital controls after two weeks of protest. Restrictions on the movement of money would prevent a run on the banks when they reopened. Banks have been getting calls from clients to move money abroad when lenders resume operations. Pg e says it