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The Bank of Japan is expected to raise interest rates next year, marking the end of an era for investors. Inevitably, when a recession hits, spreads will widen further. The global economy seems to be heading towards a recession, possibly a rolling one. This is discussed on Bloomberg Surveillance with Tom Keene, Jonathan Ferro and Lisa Abramowicz. The video also covers company earnings, including FedEx, Nike, and IBEX, and the future path for Japan.