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Bank of Japan is expected to raise interest rates next year, marking the end of an era and leading to higher interest rates across the curve. When the recession hits, spreads will widen further, and the global economy may be heading toward a downturn. There is a possibility of a rolling recession or a full-blown one. This is discussed on Bloomberg Surveillance with Tom Keene, Jonathan Ferro, and Lisa Abramowicz. Equity futures are up, and company earnings for FedEx, Nike, and IBEX are being discussed. Additionally, there is a focus on Japan's future path.