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The Bank of Japan is gearing up for higher interest rates next year, marking the end of an era. Investors need to prepare for wider spreads when the recession hits. The global economy may be heading towards a recessionary path, with talks of a rolling recession. Bloomberg Surveillance discusses the economic climate with Tom Keene, Jonathan Ferro, and Lisa Abramowicz. Equities are up, with company earnings from FedEx, Nike, and IBEX being discussed. Focus is also on Japan's future path.