If overnight was any guide, it could provide a little bit of a stop here. Guess just to show you how uneventful things are, if you look at the 10year yield, 1. 5 . Little change. Not a lot. Moving sideways across. Equity space, as rishaad pointed out, is mixed. Put it together, it is as flat as you can get. Now. E at zero right regional benchmark volumes light, especially in chinese markets. Hong kong, chinese mainland, down 7 10 of 1 . In the epic space, movement. Currencies. At kiwi dollar, lower. 70 70 1 chance overnight swap. Moves to cut rate in august so that is being priced in. Have a look at the aussie dollar, 1. 2 drop. Basically, flat. Other where we have a little bit of movement strengthening here. Following the fixing from the pboc. Not the Biggest Surprise but i mentioned a strong dollar earlier, a strong dollar story overnight. Level judging7 by this move that surprised some people. Isething you want to watch how do the Central Banks and policymakers control Property Market to prevent it from overheating as they prepare to further. Es down 70 70 1 chance. Move nexter 50 month. Should be interesting to watch. Macro totals. That is a lot of things i just said for what rishaad i guess said was an uneventful day across market shares. Rishaad britains station shouldnt to leave the European Union likely to drive down growth not just in britain but around the world. Looking at the new figures, what does it have to say about japan and the ends strength. The yens strength . Down from 0. 5. Downplayed the need for a week or yen saying intervention was not necessary. You have seen some currency but said itecently would be challenging to reach the inflation target and japan needs to use its available tools. To achieve higher growth. Interestingly, they pointed out wages and said attention to the wagesetting growth or income policy might be useful. The chief economist talks about helicopter money. Metaphor butlorful i think it obscures the real problem, which is that conventional Monetary Policy has been bearing pretty much the entire burden of maintaining Price Expectations and supporting economic activity. Othert enough help from government policies, for example structural policies or fiscal policies. Overall globally, the local caused in there because of ofxit creates in overlay risk in the world economy. 2. 1 down from 2. 2 , next is slightly better 2. 4 from 2. 5 . To 2. 8 rowth could fall so it is important to maintain confidence of the situation could worsen of the confidence level falters. Before brexit, planning more but because of the recession in brazil and russia not coming out is badly, of course china also performing better as a expect it. Better china performing than anticipated right here. And howely did the imf closely are the imf monitoring ae bad loans that represent terrific thread . The imf did mention it. It does need to step up its efforts on credit issues. Bloomberg spoke to the imf what ere and this is Deputy Director of this is what he said. You have a big balancing task ahead and the growth is in a. Ense punting on this score it is a. M. Issue that will have to be addressed in the future, we may have to tolerate somewhat Slower Growth to ensure credit growth becomes more sustainable. China isf also said supporting Stateowned Enterprises at the expense of five at firms but nonetheless they said stimulus measures have improved chinas outlook and revised up chinas growth forecast for the year by 0. 1 Percentage Points up to 6. 6 Percentage Points overall. The brexit is seen as rooted on two largest economies. 2. 2 for the United States. Rishaad thinking about cleveland, ohio, donald trump juniors speaking. His youngest daughter as well as Tiffany Trump on the virtues of the father. Expecting that. Junior will continue the same thing. Donald trump junior to be able to put him over the top earlier today. Unrelenting determination is why he is going to become our next president and why i know that when my father said he can he means it. Ry, you want to know what kind of president he will be . Let me tell you how he ran his businesses and i know because i was there with him, by his side, on job sites, and Conference Rooms only time i could. He did not hide behind a desk in the in executive suite, he spent his career with regular americans. He hung out with the guys on construction sites boring sheetrock and hanging pouring concrete and hanging sheetrock. Handstened to them a valued their opinions as much and often more than the guys from harvard and wortham walked away from the real work. He has recognized the talent and drive all americans have. People used on their character, streetsmarts. Rishaad donald trump junior there, product being able to help to get his father over the top. To secure the republican president ial nomination. Whether the delegate votes from across that line. Speaking to the Party Convention in cleveland. That was of course trump junior, but donald trump senior did a video saying this is just the beginning. Haverump together we achieved historic results with the largest voter turnout in the history of the Republican Party. This is a movement. That we have to go all the way. Rishaad were going to return to cleveland now. The gop convention. We have had Tiffany Trump, a stallingp junior, their fathers virtues. How is it being seen . It is an emotional, dramatic night tonight on the second night of the Republican Convention. This was supposed to be a night focused on american employment, make america look again. But it is nothing like that, with heard nothing about economy and and employment. They are operating on two fronts. The convention did formally nominate donald trump and his running mate mike pence. They dispensed the nominee by two of his children and on the other hand, a robust takingdown of Hillary Clinton by governor Chris Christie of new jersey who once wanted to be the president ial nominee himself with then had hoped to be Donald TrumpsVice President ial nominee and got none of the above but it is a major speech the crowd, a former prosecutor, attorney, led the crowd in a chant of guilty, guilty, over and over again as he even a serrated or foreignpolicy record and big crowd shouted, lock her up lock her up. Tremendouslyl a divisive candidate going after Hillary Clinton and having his children speak on his half in a way his wife was not able to in her brief remarks. She certainly praised him and said he was a good man but his children offered much more personal detail about their experience with him, softening and humanizing his image for the crowd tonight. Rishaad his wife was talking and of course allegations of plagiarism. Called controversy. It has courted controversy. How is that played out . How is that the affected sentiments . It is a huge distraction on the final closing hours of the Opening Night and throughout the day. The convention did not gather until late in the day, so hours time feeding a hand feeding and feeding the controversy. Who of was it a film on the part of the campaign was remarkable was the Campaign Thinking . A they professional enough . Beyond the language, the idea of Melania Trump wrapping herself in Michelle Obamas words seemed to run counter to the obama to the trump message. They dont want this to follow them for the rest of the week, they are hoping that you are hearing now well over take that controversy in the final days of the convention. Rishaad we know who mr. s running partner is, what about Hillary Clinton . We should know in a few days, but i do not expect we will hear until the Republican Convention is over, she is likely to use the coming weekend before her own convention in philadelphia kicks off to make that announcement to get all of the excitement and narrative moving in that direction in to take her running mate into that convention together with her next week so we will know in a matter of days. We believe she has narrowed down the list. We do not know she was made a final decision and although we have an idea of who it will be, on campaign is being very their choice. Rishaad thank you, Margaret Barrett in cleveland, ohio, at the gop convention. Lets have a look at some of the other stories. Largest miner. Island of ourrter production fell 7 amid its real program and has forecast flat production. Climbing as with much as 17 while prices of top earning materials remain on the tile. Capital spending on oil assets billiono about 1. 4 dollars this fiscal year in and that is after petroleum output slumped 11 to 56 Million Barrels of oil a in the trade month and of june. According to bloomberg, prices remain 50 lower than 2011 week. Sure is falling in sydney during when state trade. Underperforming in and up market. Central bank, today says should add more stimulus to policymaking next week and scrap references to unlimited policy space and achieving 2 inflation target in two years. He says markets will lose trust in central bank if it continues to remain bullish. Commenthas declined to on the remarks. The governor said as early as last month having inflation target is important to prove the bojs commitment to the price will. And a meeting ahead of thursdays agm to discuss rolling investment pressure for higher cash bid from a be invest. Fund managers have complained the 100 billion offer is less attractive following the plunge in pound. Againstency plunge shareholders, Columbia Center domingo family could get a sweeter deal the another and investors. It is understood among those upset with the terms, the childrens investment fund. The complex to put a deal was deliberately designed to soften the tax hit that would be taken from an allcash deal. Rishaad later in the program, former pakistani Prime Minister joining us to discuss everything from security aunt politics to finance and banking. After the imf got the global growth, we take a look at the asian outlook for the rest of the year. This is bloomberg. Rishaad the International Monetary fund has scrapped its plan. Growth may be slow but it has not a good. Cohead of economic researcher with us now. Reporters saying it is another points on the strength. How does the imf verdict on the Global Economy and asia bid into that scenario youre playing out . The imf still has growth risks of their. They have cut a growth forecasts of this year in next, highlighting risks around brexit. Not dramatic but a drag on the world economy. What do asian policymakers do to offset the blow . Wait thats is the most likely scenario for most economies in asia but wont do much because they are pushing on the string. Rishaad so why do it . Is a little but at the margin. Rishaad Glenn Stevens has been talking about the efficacy of monetary rates and policy decisions saying it is not like the old days. The economy, economic structure, how has it changed the we have to be more fiscally orientated now . Monetary policy is lost its punch. Much. Ro does not help other countries have a lot of dead so cut Interest Rates it does not mean credit will accelerate. The option left is fiscal policy. Very few countries are determined to do so. You might be one of the first ones expected to unveil a big Fiscal Stimulus Program but we need more of that. Policy. More fiscal rishaad you describe growth as , 6 withentially chinas pretty good isnt it . It is, but remember we bought 6. 7 in the Second Quarter so we masked the stimulus. Those enormous surge in credit growth in the first of your, a lot of fiscal impulse coming through. Ask yourself, what wouldve happened to chinas growth of the stimulus id not come through . In order to maintain a growth, we need to continue stimulus. The private sector in china is not yet taking up the baton from the public sector. Rishaad it has been crowded out. Hashat worried is not it been increased are deterred, it is about confidence, Structural Reforms. The private sector needs to have some bright aspect they had to start to investigate and and it is lacking at the moment. Rishaad but we talked on china as we are on that subject, we have seen six. 7 or there about, what does i do for the economy . Do think it is the right step . Depreciation does not help. It is fairly marginal in the big scheme of things. It is not as if china lacks competitiveness. China is very competitive. The exports are weak but the currency is not going to fix the export side of the economy, the real issue for china is the domestic construction bubble which they need to keep preventing from deflating to quickly through stimulus. That is really the main policy task at the moment. Rishaad at the same policymakers are juggling a lot of walls. Thet is very tricky, it is western analysts pointing a finger and saying you should do faster reforms or this a. M. Bad, there are some a juggling the ball been on the social side remember when we talk about Structural Reforms and demanding the chinese accelerate that, it would demand higher unemployment and that is a difficult to let to bite. Rishaad lets look at the rest of the asiapacific. A series of countries that might be cutting Interest Rates, we have already to about whether they work or not. Tell us about the ones you think will do better than the others. The one thing likely to do better in the coming years are the countries that are less tradeexposed because local thee is not feeling up and ones with low debt because they can accelerate credit growth. The two that stand out in those terms are the europeans and indonesia. That,rkers are telling us the currency is doing well, the equity markets have rallied. Those are the countries that have the biggest scope for improvement. Rishaad and the biggest of for Infrastructure Improvements on the fiscal side. That is right. In the philippines, the new administration has very aggressive plans on fiscal spending. Thisre looking to double goal Infrastructure Spending over the coming year and that will provide a big boost to growth. Rishaad want to worry about chris mark lyons we worry a little bit about the countries with high debt that our exportexposed. Malaysia for example with debt ratios high. Export dependent. We see growth decelerating. It is one of the reasons why be and am surprisingly cut Interest Rates last week, to cushion that. And korea, highly export dependent. Rishaad thank you so much for joining us. Were going to take a break. Donald trump nomination making headlines. Republican president ial candidate now and it is official. Kicking up quite a bus on social media. Music rishaad donald trump has officially garnered the president ial nomination. Trending on, Trump Twitter and the gop convention. Trump himself has tweeted it is a great honor to be nominated by the republicans and of course he is saying his name quote, america first. Not surprisingly, the democratic candidate Hillary Clinton coming through and she has not been too pleasing for donald trump. Saying the Republican Party that form is so hateful you would think donald trump wrote it himself. Rishaad laterally donald trump, but his wife has been accused of plagiarism. Not get to talk about it last night but my little pony seemingly also entering me controversy. As we are talking about earlier with margaret, we have seen you know, these concerns that her speech was very much lifted i guess from Michelle Obamas speech of the immigrant a convention in 2008. A lot of similarities but one republican said in defense of Melania Trump that these words, i think anybody couldve said these words. In fact, twilight sparkle from my little pony said a number of them. Now a buzzfeed quiz, who said it . Millay now or my little pony. Truckloadsiscellanea came through. One from jesse that said ariannarumpquotes huffington saying, it is not about whether or not it was plagiarism it is because the trunk camp has not come out and admitted it. Rishaad up next, latest production numbers. Looking ahead. In a moment. [hip hop beat] olympics 2016, let me get you on my level. So you never miss a moment, miss a minute, miss a medal. Why settle when you can have it all . Soccer to wrestling. Track and field to basketball. Fencing to cycling. Diving to balance beam. All you have to sa is, show me, and boom its on the screen from the bottom of the mat, to the couch where you at . Show me the latest medal count xfinitys where its at. Welcome to it all. Comcast nbcuniversal is proud to bring you coverage of the rio olympic games. Rishaad top stories. Asiapacific stocks fell after more than a week of gains. Leadings shares are declines with crude holding below 45 a barrel. They are warning that the damage could be worse if confidence falters among investors and companies. Should correctan two big lines. They say the boj should add more stimulus in achieving its 2 inflation target in about two years. He said markets will lose trust in the central bank if it continues to remain bullish. Donald trump has promised to go all the way after officially getting the republican president ial nomination. Announcement as his home state of