Lets go straight to japan, where we are adjusting the rep up between the meeting of shinzo abe and the boj governor. This is the third meeting ever since we had the brexit vote. The yen went crazy, touching 99 usually volatile session. This is what we are getting so far between the Prime Minister and the bank of japan. The bank of japan can provide liquidity if needed. They can add funds to the market if necessary. Trying to, reassure saying that japanese banks have known problems with funding at the moment. Corona explaining the funding process at the meeting. Abe coming out earlier, saying that the finance minister must continue to pay careful attention to the market. They have been discussing the brexit, what potential issues may arise. He also says he sees no problem with raising funds, keeping liquidity ample in this market. Not just in japan, but since the vote happened on friday. It has been a paramount concern for officials. We are looking at reaction when it comes to the yen. It has strengthened a bit, although it has been Holding Steady as markets digest these comments. A bit of a reaction coming from other regional currencies. The kiwi dollar, the ozzie racing after comments from shinzo abe. Were hearing that global banks have made a statement on markup corporations. Abe said this has helped to comfort market and boost sentiment. To continue management as he already said before, he has declined to comment on Emergency Bank of japan meetings. The markets have been rallying over the past day, largely on expectations that we will get something substantial from japan on the back of that stimulus package. To try and stem the bleeding from the markets. There is real economic fallout that the brexit decision will have. Do you have a lot of encouraging words, kuroda saying he will work with banks to ensure liquidity. They will continue to work with the g7, take any necessary action, but will be watching these Market Conditions closely. Shinzo abe ultimately saying that all measures will be mobilized after the brexit vote. That is what we have. In terms of a substantial ongoing information intervention, nothing has been announced. Whether the market will be disappointed, work they might wait and see. Lets get the market reactions on those comments. Markets have just opened. David, how is it looking . David we will look at the yen in a moment. When you have equities overall of 2 and copper and oil on the way up, gold on the way down. Yields are slightly mixed. Chances are you get Something Like this. You look at the price action, the volumes we are getting in asia. Still early days obviously, but japan up by 1. 4 . You can be technical about it, the nikkei is on a threeday run. It dropped 8 since then, but it has been on the way up. We talked about dollar yen. Lets get an update on the today chart to put this into context. We are obviously at a much weaker levels. That being said, it has strengthened a bit since it caught up. We talked about a lot of this coming out of that meeting. It is the same thing. It is a g7 effort. It is basically a list of what they can do, not what they plan to do. Energy has remained potential, and not kinetic, if you can use a physics analogy. These lines will continue to come. If they come, we will bring a development. Dollar much weaker compared to the yen. This speaks to the larger figure we see in the markets, where the yen and swiss is weaker. The dollar is slightly stronger against most. This is adding to the signs that today could be a very risk on session. The bond markets, this has is located somewhat with has dislocated somewhat with this relationship. It depends on the relationship between equities and bonds. All bc equities rally, while we see equities rally, they see yields continue to fall forward. In japan, they are trading at crazy low levels. Everything from the three months to the 40 year, under 1. 1 . And at the start of the session, some of the green that you see on australias 10 year bonds. Josh depend still in the negative. Japan still in the negative. See if the trio can call markets today. David cameron has endured what could be his final eu meeting, facing sentiment over the brexit vote that he initiated. European administrators want them to continue the exit initially. Eu chiefs are frustrated, saying that they are held hostage. That is what the applet Prime Minister said. Sayingmerkel gensler that is not a time for wishful thinking, you have to press forward. Some of these frustrations stemming from what seems like a lack of a plan on the u. K. Side. This is the ecb president s comment on it. What i dont understand is that those who wanted to leave are totally unable to tell us what they want. All those having campaigned for leave, they tell us that we need some time. I thought that if he wants to leave, you have a plan. You have a global picture. Europeanlaude, the Commission President speaking about his frustrations as to why there was no plan made. Maybe some concerns behind closed doors about foot dragging about the whole situation. I saw some lines about the Swedish Krona minister uncertainty is not good for anyone, certainly not market. How damaging is the state of limbo . Looking at the economy for the euro area, the ecb president has, from that. Mario draghi saying it could fall by half a percentage point by the next five years keep relatively. Everyone wants to move on from this. So some of the pressure can be taken off issues with growth, economy, and markets. On that front, David Cameron says this is a matter for my successor, they are the ones that will pull the trigger on official processes of leading the european union. Leaving the european union. On that side of things, the ukip party said a new Prime Minister should be announced on september 9. That is still a few weeks away. In som David Cameron said he fot hard to remain, and that he had close ties between the u. K. In europe that should remain. More uncertainty for the next couple of weeks. A lot still on the plate. In the u. S. , stocks rallied for the First Time Since the brexit vote. Sue, give us a wrapup of the days action. Was this a real rally or a break . Sue that is what remains to be seen. Certainly it was a relief rally and sentiment was changed, but whether this was a dead cat bounce, which is what americans refer to, which will be determined later in the day as trading resumes. But check out the major benchmarks pretty much across the board, in green. The dow is up 260 point, and most importantly and they hung on to those gains in the final hour of trading. Leading the gains, we have banks, technology, and energy. Citigroup up 5 . Facebook was one of the gainers, exxon. Citigroup showing the strongest rally for the Banking Group in six weeks after the biggest selloff in private in five years. In commodities, you see a tale of two movements as david mentioned. Gold heading lower, oil heading higher. Gold easing off its 5. 5 to the ledn, which was which many analysts to say this could be a new boom market for gold, proving that it is an ideal hedge and volatile cases. Reboundedf oil, it toward the end, but closed near 48. s 80 its february low. The weaker dollar was part of the story. Thatrtainly led gold and was out of favor. Volatility is way down from the levels weve seen in the past two days, but still on trackable monthly spikes. An animus whist a analyst withn mtm partners, if you look at the big fix going back to 97, you will see various times weather has been a very strong spike. It has lasted over a couple years. He critics despite we saw in the last two days will set us up for a right for years to come. We saw the gdp figures coming out of the u. S. Fairly strong. But there are areas of concern, right . We came in with a stronger revised gdp, which is positive. But there was household consumption, which women at a pace of 1. 5 . , which came in at 80 piece of 1. 5 . You want to see Consumer Household spending more robust. Certainly it is some decent of the economy. Certainly at 70 of the economy. Growth is adding lackluster pace, but no cigar, as they would say. A second report on Consumer Confidence, the highest in a month. That underscores the next picture we are getting and the data. Joining us from our new york headquarters, thanks sue. Reports from turkey, as many as 50 may have been killed in istanbul airport. 3 suicide bombers were involved, with one opening fire with an Assault Rifle. All flights into and out of istanbul have been stopped until 8 00 a. M. Local time, although turkish airspace will return to normal in the next hour. Donald trump has a Campaign Speech in the swing state of pennsylvania to accused china of stealing u. S. Jobs. The presumptive nominee said that if elected, he would pull america out of the transpacific partnership, labeling china a currency cheat. Trump also promised to renegotiate nafta and use u. S. Steel and aluminum to rebuild infrastructure. , it could happen, economists are saying its time to get ready. How should investors prepare for the possibility of a u. K. Recession . It is a 15 in hong kong. Japans top messaging app will release 35 billion shares, the equivalent of 26 each. It wants to begin trading in new york july 15, and tokyo the next day. Despite going public in the turmoil of the brexit vote, they expect strong interest from retail investors. s sales fell 11 , while Analysts Expect a 13 gain. Were below expectations. Reports from seoul say the uber ceo will appear in court today, 18 months after being indicted after a taxi service being called illegal in korea. People stand trial in south subject to strict court and. By the charges he was accused of breaking the rules on transport services after launching uber partnerships with a korean rental car operator. Day,ocal news, 24 hours a powered by journalists and hundred 20 countries. In 120 countries. Markets trading in the asiapacific. The japan officials wrapping up the meeting between abe tyro, as well as kuroda. Not doing march to markets in turmeric again, but stock getting a lift hundred 60 points on the nikkei. Australia seeing good gains in buying, of 9 10 of 1 . Oil back in his rally today. We will continue to watch that. Joining us from melbourne is. Chris weston is chris weston. Got this rally, has changed much in the last 24 hours that would suggest that it has legs . Chris not a lot, not that will change and radically alter the sentiment. There has been talk that we are going to see this capital injection into the italian banks. That may help a very beaten up subset, sector should we say. There is a lot of focus on when article 50 will be enacted. That relies on the conservative government having some type of leadership involved, and some strength within the party. The shadow party is in all sorts of this at the moment. For them to interact on article 50, they need a government. They need some certainty on what the future might look like before they do that. The fact that they are going to be pushing this back, and the idea of divorce will take quite some time. Trade is saying, lets focus on things in the short term. Nothing has really changed. Markets have fallen quickly and hard. I think people are taking those. Shorts off the table some brave soldiers might be looking to dip their toes back in. But the u. K. Set a precedent for leaving the european union, something that was never supposed to happen. Long and0 is 260 words was vague and never managed. To be used never meant to be used. We have holland, france, germany, all these other companies and it sets up more volatility to come. Maybe there is an upside here. The eu chiefs want a divorce, but the u. K. Cant get their ducks in a row. What does this mean for the pound . Does a fast divorce actually help the pound, or is it going to exacerbate the losses . S the pound has a further downside, in my opinion. Specifically against the yen and the dollar as well, which has a 20 chance of right counsel. We certainly expect further downsides. I will look for any retracements, which might happen in the next 2448 hours. A lot of been saying the fall in stirring has been fall in sterling has helped for the economy. We need to remember that the u. K. Are big net importers as well. They mitigate some of that downside for the u. K. Economy. Politics in disarray at the moment. The idea that this could have a big impact on in the knox on economics, where the u. K. Could grow 3040 basis points. They might have to go down the assets purchased route again, feeling that there is further downside. Rallies are an opportunity to sell, for sure. You talk about politics being in disarray. You could say the same about australia into the National Elections this weekend. Some in australia betting against history, saying this election rally after the event is not going to happen given how high valuations have been. Do you agree . Chris i wouldnt say the australian political situation isnt in disarray certainly not what we are seeing in the u. K. I suspect we will see the status quote being maintained,. This gap is too hard to get states back. We might see a hung parliament, but valuations are pretty lucky, like they are around the world. Pretty lofty, like they are around the world. We know the story about what is happening in fixed income at the moment. The australian 10 year yield trading nicely below 2 . That is making these yields play attractively, especially when you see volatility in the markets down 21 . If that continues in earnest, and volatility, continues to fall driven by central banking actions, the yield in australia could certainly come back in vogue based on the trading mentality rather than a valuation perspective. Thank you so much chris from joining us from another. Takes aim atp china and threatens to break trade relations if he becomes president. We are live to washington next on daybreak asia. Donald trump calling beijing a treat and a thief a cheat and steve, and threatening to route up trade deals. Cheat and aeijinga thief, and threatening to rip of trade deals. A hard line between his America First doctrine, and the republican orthodox going back a generation that trade is good for the u. S. Economy. Key is essentially saying that its hurting workers and benefiting the financial elite, and politicians who get their money. Hes making these payments from an interesting place. He was in pennsylvania making these harsh comments. Pennsylvania will be one of those places that can turn towards him in november. It has traditionally been a democratic leaning state the polls suggest that he is close with democrat Hillary Clinton, resonating well with the middleaged white male, who has seen some tough times. Pennsylvania has lost a lot of jobs in the steel and manufacturing economy. Trump is blaming china in these trade deals, killing workers that is going to fight for the American Worker and use American Steel in u. S. Projects. And get the u. S. Out of the tpp arrangement. Here is what he had to say about china specifically. Mr. Trump im going to instruct my treasury secretary to label china a currency manipulator. [laughter] which should have been done years ago. [applause] any country that devalues their currency in order to take unfair advantage of the United States which is many countries will be met with, sharply. And that includes tariffs and taxes. Yeah, so we hear him there. And from there, he went on to talk about trying to tie Hillary Clinton to chinas entry into the wto. Essentially trying to lay blame at the loss of manufacturing jobs to the clinton doctrine as well. Taking a look at the polls, it seems like clinton seeing a bit more of a lead as of late. That is why we see trump ramping up the language. When it comes to trade, according to our colleague, it seems like his speech recanted 30 speech 30 years of republican thinking. Absolutely. That is been the core of republican thinking, that more trade is good. Thanks so much, joining us live from washington. More coming up next. Fundsexit has hedge bracing for one of the worst quarters in recent memory. Keep it here. We are a halfhour away from the opening of trading in singapore. Youre watching daybreak asia. Asian stocks are rising following the first b postrexit post brexit bounce. Shares in tokyo rose 1 after Prime Minister shinzo abe met boj officials and cabinet ministers for a 30 day, and for a 30 day, promised for a third day. Eu leaders say the u. K. Operators must leave as soon as possible, because it threatens them all. One of the lead campaigners, nigel farage, called on a Bank Official to resign, saying he failed to remain impartial. Suicide bombers killed 36 in istanbuls major airport and killed others. The justice and minister said one of three attackers opened fire with an Assault Rifle before blowing himself up. The explosions happened at security checkpoints at the entrance. The airport remains closed to all flights and traffic. Global news 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries. This is bloomberg. Strong gains in asia. We . D, where are are we seeing signs of this continue throughout the day . David that is a tricky question. If you asked me that 10 minutes ago, i would say yes. A few seconds ago, i would tell you we are starting to see signs that the rally might be coming off a little bit. We were off as much as 10 on the regional benchmark. You look at yen, s p futures. They are off just a few points. It looked like a simple retracement from the cutoff, but its actually more at the moment. We are up half of 1 . You see strong conviction. Volumes are fairly heavy at the moment, a lot of trade going on. As far as buying conviction is concerned, you can still check that box. Dollaryen. We were hearing some lines out of the meeting between the banks of japan at the government. Nothing groundbreaking. In fact, i could take my old script from monday and tuesday and read that to you, and it would make a difference. That said, we are seeing the the yen come off this session. You are looking at a twoday chart, that is 101 all the way to about 10280. See, we are at a session low at the moment. Still above the midpoint, so we are much weaker. The pace at which this is falling, maybe changing event. 2 102 45 that said, look at the other