welcome to daybreak australia. i'm haidi stroud-watts in sydney. annabelle: i'm annabelle droulers in hong kong. asian stocks may get a boost from wall street's record close but strong u.s. hiring is testing bond traders faith that fed rate cuts are on the way. shery: china is pledging officials no specifics on ending the selloff. annabelle: middle east tensions hit new highs after a wave of u.s. led struts in iraq, syria, and yemen. we are kicking off with that story with wind crude and wti both coming online with very muted gains at the start of trade in the context of the friday close where we saw both contracts falling into the red. what is driving that is a gentle

recalibration of supply versus demand concerns. from the supply side it is down to middle eastern tensions. those really ratcheted up over the weekend. we had the latest u.s. and u.k. forces striking dozens of sites in yemen against iran back houthi militants. we got a valid to respond. separately there were earlier starts against iran linked militias in around and -- iran and syria as well. let's look at u.s. futures coming online this morning. we had a friday close that was a very strong but for wall street. not too much movement yet. levels for the s&p 500 contract approaching the 5000 mark. it is already trading at a record high. we had a strong u.s. job spread. that tells us the u.s. economy is so strong and powering along. haidi: it's really the

geopolitical overlay we are watching that potentially complicates the broader picture when it comes to a focus on central banks. there is a focus on central banks this week with the start of trading in australia. the first meeting for the reserve bank of australia. it will probably maintain a hawkish stance. there is a lot of focus and screw 2d on the revamped communications regime. what we hear from the rba when it comes to expectations, michelle bullock is expected to maintain a hawkish position. stocks are coming online with the downside of about .4% as we see australian stocks trading close to the highs of june 1992. we have been pretty range bound when it comes to the market, extending record highs. the aussie dollar at 60 502.

the u.s. dollar mixed tight ranges within the g10 space after posting the best today in about a fortnight the fifth weekly advance for the bloomberg dollar index. a little bit of pressure coming from that side with law the dollar. the aussie dollar closing down for a fifth weekly decline. we will see if there is any comeback back this week. kiwi stocks up by .25%. we could see more upside. chicago nikkei futures up about .1%. dollar-yen holding steady at 148. we continue to look for what is next for this round of sentiment in china see a 50 china futures looking lower down .7% as the chinese regulator continues to jaw on normal more -- market fluctuations. in the middle east around back houthi militants promised to

respond after u.k. and u.s. led forces struck dozens of sites in yemen. airstrikes won't deter the group from expressing support for palestinians in gaza. 36 houthi sites were targeted including deeply buried weapons storage facilities and missile systems. the u.s. conducted airstrikes against enron linked militia in iraq and syria over the weekend in response to a deadly drone attack on u.s. troops in jordan. u.s. officials struck 85 targets at seven locations linked to the iranian revolutionary guard. iraq warned of potentially disastrous consequences following the attacks. william whistler is the senior director of middle east programs at the atlantic council and now joins us. the latest move from the biden administration, does this deter, heighten tensions? do neither? where do you see it going from here? i know you think it will be an

extended conflict. william: the conflict will grow on for some time. the goal is to reestablished deterrents that were unfortunately lost in recent months. whether it is successful will depend on actions by around, iraq -- iran come arounds proxy. they have already made a lot of rhetorical noise that one would expect. we will see in the weeks and months ahead if the level of violence declines. haidi: what do you expect with diplomatic overtures? we would still expect channels open to tehran. iran signaled his perhaps wants to de-escalate. william: yes. iran does not want a regional war because it would lose. the u.s. does not want a regional war because it would be devastating for the region and put a lot of u.s. interest at risk.

so there's a mutual commonality of avoiding that most negative outcome. that said, once the bombs start dropping, there was always the potential for misunderstanding, miss escalation. in the past we have seen iran and it's proxy steadily marching up the escalation letter waiting to be pushed back, then going down. that is what one would most likely expect from the outcome here. annabelle: how do you think relations between the u.s. don't iran -- the u.s. and iran will shift as we count down to the u.s. election? william: i think iran sees 2024 as a great opportunity for them to achieve their long-standing objective of pushing the u.s. out of the region. they saw discussions from the u.s. government about removing troops from syria. they know there are public discussions with the government of iraq about withdrawing troops

and the overall context of this is the war in gaza that has made public sentiment towards the u.s. go down and public sentiment towards iran go way up . they thought they could -- increase the level of violence to achieve their end. i expect today made a mistake here. and what will happen is that there will be a more firm commitment to p -- keeping u.s. troops in the region from the rest of the area. annabelle: how do you think the white house and democrats and republicans are likely to shape rhetoric in response to this? william: rhetoric will be tough on both sides. both sides in an election year will compete to see who can be tougher. the most important thing going on now is the diplomatic concessions. we have secretary blinken in the region i believe for the fifth time since the october 7 terrorist attack by hamas.

they are trying to do a massive restructuring of the geopolitical sentiments in the region by ending, or at least, pausing the war in gaza, creating a new relationship between the u.s. and saudi arabia and creating a new relationship between saudi arabia and israel. that's the worst case scenario for iran. the prospect of that is one of the reasons marcelino: probably did the attack in the first place -- marcelino: probably did the attack in the first place. it is still a biden administration. haidi: president biden came into office vowing to end america's forever war. does this increasingly look like an issue of bandwidth? we already have ukraine as an issue and the ongoing war in gaza. is this heightening potential expectations or risk it will be a broader regionalization of a third front? william: it is raising the

threat of a third front for a wider regional war, something both the u.s. and iran don't want. i believe the u.s. and its allies have the ability to both walk and chew gum at the same time. they can support the ukrainians with a significant amount of weaponry for them to fight with. they can support israel with what it needs to deal with hamas and protect long-standing u.s. national security interests like protection of freedom of navigation and the protection of people in the region from iran and its proxies. they can do all these at the same time. haidi: biden officials are headed to the region for fifth visit to broker a cease-fire. are you optimistic at this point given the humanitarian toll being taken that evening -- any temporary or more significant cease-fire can be negotiated? william: there is by all reports a very significant deal on the

table right now. the party to the conflict that has not yet accepted the deal is marcelino:. -- hamas. there is division between the leaders of hamas and political leaders living in doha are between whether or not they should take the deal. but the all is clearly in their court. they could have a very extensive humanitarian pause of the fighting tomorrow if they wanted to. haidi: that was william wechsler director of middle east programs at the atlantic council. coming up, a survey shows most japanese firms don't see china's economy improving this year. the japanese chamber of commerce and energy in china tells us more about their findings later this hour. first, china pledges to stabilize markets after local

shows sink to a five-year low friday. we have more details on that ahead. this is bloomberg.

annabelle: chinese authorities are again promising support for the nation's stocks after friday's market round led to an outpouring of frustration on social media. let's bring in our chief north asian correspondent stephen engle in hong kong. another pledge end another time we don't get many details on it. stephen: i think authorities have to stay something. a statement coming from the csrc sunday essentially trying to put a band-aid or some cream on the wound, if you will, friday's stockmarket route. essentially all of the jawboning

we heard earlier in the week. out by friday and the csi 300 same 3.4%. there was an outpouring of frustration on social media. that is a very narrow area to voice discontent in china because it is heavily scrutinized, obviously. and, basically -- what is the word i am looking for? annabelle: policed? stephen: that's a good one, thank you. it's a monday morning and i'm struggling with my words. i think a lot of frustrated investors went to the u.s. embassy website to voice their frustration. i'm not sure why. i don't know if the u.s. i'd anything to do with this. again, it is showing the potential for social instability with a stock market now losing $6 trillion in the route. this is the sixth consecutive week of losses.

this is what the seersucker csrc came out and vowed yesterday, to prevent abnormal fluctuations. how is the big question. how will you forget that prevent that? they say they will get medium to long-term funds into the market. so, they will get some funds into the market. we don't know how much. there has been a lot of talk about a market stabilization fund. still no details on that. and they also want to crackdown on what they call illegal activities like malicious shortselling and insider trading. there is no details on who is doing that and how it is affecting the market now. annabelle: i don't think anyone can blame you for being a bit speechless. at this point, what else can we say? what can we say? what can authority say or do to actually being change sentiment? -- meaningfully change sentiment? stephen: there is the chinese academy of social sciences. i am sure you have heard of them and worked with them on stories. they are a government think tank

and an advisory body to the communist party but how much sway they have is yet to be determined. they are coming out saying authorities should set up a stabilization fund as soon as possible. given the market sentiment now. this academic says up to 10 trillion yuan should be the sum they should target for the stabilization fund, 1.4 trillion u.s. dollars including between $300-$500 of funding. the market stabilization is being essentially led by the national team. that means the state owned enterprises and directives from the central government to prop up the market. we had earlier last week directives coming down to further limit malicious shortselling. so, they are trying to do what they can to boost sentiment. but the bottom line, as you

know, is the overall macro condition in china. week growth is any in many parts of china. you have simmering u.s. china problems. the big elephant in the room is the property sector. many investors want more concrete measures coming down the pipe to support the property market and even potentially a rate cut with the medium term lending facility, something to really tangibly impact market sentiment. haidi: tangible is a good word to keep in our back pocket. stephen engle with the latest when it comes to efforts to try and change the trajectory for chinese markets. oil is very closely in focus stephen -- given that geopolitical tension overlay we watch this morning with houthi rebels vowing new attacks after the latest u.s. and u.k. led airstrikes. we are watching that closely. we are seeing upside in brent crude holding steady at just under $78. new york crude trading just shy

of $73. another big earnings. period from big oil at a focus. the latest geopolitical uncertainties. su keenan joined us in new york. a lot for crude traders to be contending with at the start of the week. su: it is the last time we have seen both oil investors and traders reacted to the significant events like last week. that is a significant bid we are seeing given oil fell by the most for the week since october. on a number of different factors that i will get into. when we look at just last friday. what could have been waiting for the promised response? it had taken a moment. the u.s. military said it would choose its own momentum and timing on this. u.s. and allies targeted houthi sites, 13 locations in yemen. it's the biggest barrage since initial attacks january 11.

you can see in the bloomberg chart that oil had started to decline even as the response was being awaited. the attacks by the houthis began in the red sea in november prompting the biden devout retaliation -- to val retaliation along with allies. the results so far have been mixed and attacks in the red sea have continued. we know that the houthis have vowed to pay back the u.s. and the u.k. for its latest airstrikes. there were a number of bearish factors that pushed west texas intermediate and brent to some extent downward from 7% last week. there were reports of a potential cease-fire that you might remember late last week that had a bearish effect. there were indications world markets were adequately supplied. that is the bigger overarching fundamental story on prude.

wti's spread is the difference between his two nearest contracts. put into a bearish structure in the -- known as contango and then the breach of two key signals triggered algorithmic selling. it is a significant turn into the green as a result. annabelle: i guess what is clear out of this is the way oil is being moved is changing. su: yeah. at first many dissipated this would be a temporary disruption that would not really impact oil. at this point we are starting to see major shifts in the way that global oil buyers are making purchases. bottom line, local cargoes have become much more attractive. one ship trucking firm has come out with pretty compelling statistics. we know herne -- there has been higher prices and a slump in traffic through the suez and a

lot of ships are having to go around the tip of africa. across europe refiners have skipped purchases of iraqi crude in favor of other types. we know that crude from the u.s. to asia plunged one third last month from december. the same firm tells us oil tanker traffic from the suez is down some 23% last month when compared to november. so, these attacks and the mixed we have -- mixed response we have seem to the u.s. and u.k. countermeasures have continued to impact the oil shipping market. back to you. annabelle: that was su keenan. we will have moredayak australthis is bloomberg.

annabelle: chevron fourth-quarter earnings beat the

average estimate with annual production hitting a record. the chair and ceo mike werth told us more about the results and his acquisition strategy. mike: it was a year of records. we had record oil and gas production of 3.1 million barrels per day. record u.s. production read in the fourth quarter we had record permian production of over 870,000 barrels per day. really strong performance in our business across the board allowed us to return a record $26 billion to her -- to shareholders, almost 20% of market cap. our dividend was raised 8% earlier this year. strong performance around the world. permian certainly showing very strong growth and momentum. as we move towards one billion barrels per day in 2025. haidi: what is your confidence level in maintaining and improving productivity and efficiency gains? mike: capital discipline always

matters in our business. for years, we have been very committed to it -- a tight capital budget and focusing on execution. what we have done in the permian is grown to a point where our capex is guided at about $5 billion this year and will see continued growth this year and next year. as we get to next year and one million barrels per day we will talk about holding a plateau that allows us to invest even less capital to do that. so we are very committed to capital discipline through the cycle. it matters in this industry. it is an industry that at times has not exhibited that and i think it is important that our companies and other companies remember the lessons of commodity markets. romaine: what does that mean going forward here? once the acquisition of this closes it later this year what changes need to be made? mike: we closed a deal with hess

that is expected midyear. we have a fairly involved ftc information request we are in the midst of now. we will have a company with even stronger production growth further into the future. it will allow us to underpin not only the dividend, but also a strong balance sheet and can and you'd -- continued share repurpose is not only through this decade but well into the next. it takes a strong portfolio for us today and makes it stronger for longer. romaine: looking at the strength of the stock and the balance sheet i am sure you have heard these questions. you plan any other major acquisitions this year? mike: we completed one acquisition last year and we are in the midst of another one. we are always alert to opportunities. but integrating a company in our industry matters. we operate in challenging environments. the work we do needs to be done with precision to keep people safe and protected the

environment. integrating two companies together and all of the things that go with that is something we take very seriously. so we have our hands full now. we will work hard to close the hess deal and do a great job integrating a great company with arts. and as we go forward if opportunities present themselves we will certainly evaluate them, but we are not feeling a need to do anything. haidi: the chevron ceo mike werth they're speaking to bloomberg's alix steel and romaine bostick. more to come. australian stocks and the first half hour of trade are significantly lower at this moment. almost every sector is in the red with the materials

>> the economy is really strong. >> amazing.

ex a very strong report. a strong labor market. >> and exceptional labor market. >> you have to squint to see cracks in the system. >> it's a bit of a headache for the fed. >> the fed does not have to nominate -- normalize policy as quick. >> marches off the table. >> we never thought the fed would move in march. >> we are more likely to get the three cuts the fed has signaled, three-four, rather than the higher number the markets have been romancing. >> the aggressive market pricing in of a lot of cuts this year is starting to come out. >> june is what i think should happen and what i think is likely to happen. this report just feeds into that. annabelle: some guests on bloomberg tv reject -- reacting to a surprise surge in u.s. jobs data. let's discuss this with our guest spencer founder and ceo at tolu capital management.

the jobs report calls into question a narrative around a soft landing. u.s. equities seem to like the idea that u.s. economy is powering ahead. bond markets are thinking otherwise around the direction for fed rate cuts. how did you read these numbers? spencer: i agree. it was a massive number. more massive was the revisions that came on for the past month. i think that the report solidifies march is highly unlikely for a rate cut. i think eventually the bond futures market and the fed stock clock will meet somewhere in the middle and we will get 3-5 -- 3-4 rate cuts in 2024. i think that a better environment for equities then getting six or seven rate cuts. that's more synonymous with a recession that would not be good for corporate profits in any way.

so we think that it makes sense for the market to like it. especially if eci was a little weak if we get an inflation rate that is manageable or week that's what we want. fed chairs have always said they don't want a recession and it's not a problem if the labor market is strong. this could be a good environment for equities going forward. haidi: it raises the risk that inflation could stay elevated. is that still an environment equities well-liked, if inflation sticks around the series -- the 3% mark? spencer: one of the biggest risks we see on this front is the fact that wages are growing between 4%-5% and that will inherently be difficult to get inflation back down to 2%. especially if goods start to

reinflate. that will be very hard for getting the overall inflation picture to 2%. that is why we would suggest, even within equities, to invest in equities that are less rate sensitive to other sectors, there could still benefit from a strong consumer, but would not be very negatively impacted if the fed had to hold for longer. though that is not our base case, it's definitely still a possibility. haidi: how much consideration are you assigning to geopolitical and domestic risk this year? spencer: absolutely. you can see what is happening in the red sea. that is something we have to monitor closely especially as it relates to commodity prices. this is the biggest election year in global history, or at least western history.

40% of local gdp is going into the election this year. who is at the table will change. it will have an impact one way or the other whether it is through tariffs, through changes in geopolitical effects. there are a variety of ways that can affect things. we will be watching closely of course. annabelle: the outlier of the central bank cycle is the boj. what are your expectations? i know your expectation ends with the yen potentially at 135. how does that impact the equity rally? spencer: i think the boj has seen enough or is close to having seen enough to justify exiting the last negative rate in the whole world. if they do that especially if the federal reserve, the ecb, the bank of england, the pboc

are all cutting, all easing, we think that is very bullish for the yen. we think that's a tailwind. we can see the yen rallying up to 135 here. to relate to japanese equities, we would actually see that as a headwind similar to what you saw in the u.s. in late 2021. as the central bank begins to hike, that's obviously a net negative for companies that are borrowing. it will also make japanese exports more expensive. japan is a pretty big exporter to the world. on the flipside, it would make the imports of commodities cheaper. it could work both ways. but we would be a little cautious on japanese equities. annabelle: are you cautious on chinese equities? over the weekend the big

headline was chinese regulators are pledging to stabilize markets. do you see any investment opportunities here even from a valuation perspective? spencer: from a valuation perspective this -- the shanghai 300 now is that 2700 -- 2007 prices. since 2007 chinese gdp has quadrupled, corporate profits has quadrupled and the 10 year yield in china is at its lowest point in the last 17 years. from a valuation perspective, this is probably the cheapest a chinese risk assets have ever been. but obviously markets are highly highly efficient and things that are cheap tend to be cheap tend to be cheaper a reason. as it relates to china there is a hidden debt problem, especially when you consider state owned enterprises and local government debt that could be close to 250% of gdp by some estimates. china's population declined in

2022 for the first time in 60 years. there is an elephant in the room. that is, any type of conflict regarding taiwan would immediately cause a wave of sanctions for the west end obviously be a negative impact to chinese risk assets. so while it is cheap, we believe there are reasons and we are seeking to get more interested. we would like to see more forceful direct monetary and fiscal stimulus from the pboc and beijing. that is what we will be waiting for on the chinese story. haidi: the highest conviction call is for tentativeness. talk us through that. spencer: right now in the u.s. the yield curve is about -35 basis points inverted. history strongly shows every time the fed cuts, 3, 4, six cuts, as long as the fed is cutting the yield curve tends to normalize. we are starting at -35.

we see pretty good relative value. one step beyond that we spoke about wages earlier. the front end of the curve has a lot let -- must interest-rate premium, turn premium, inflation premium. we think the risk reward at the front into the curve is better than the backend. so, we see that. we see the current normalized potentially 1500 basis points in 2024 and that would lend itself to a nice return on a steepener trade. haidi: spencer hakiman of tolou capital management thank you for being with us. we have more ahead on bloomberg daybreak australia. this is bloomberg.

annabelle: it's time for japan ahead. japanese market set to open 20 minutes from now. so far the outlook for futures today looks like we will see some gains at the open. putting it in the context of the wall street session on friday we saw u.s. stocks powering to all-time highs. we had a strong jobs report. it tells us the u.s. economy is extremely strong. we saw a move higher for the s&p 500 nearing the 5000 mark. nikkei futures looking to follow the lead from the session on friday.

you saw the japanese yen fairly steady. of course, it's getting into quite a significant holiday week for the region as well. haidi: of course. the lunar new year is almost upon us with china facing, as we entered the year of the wood dragon, a series of macro economic challenges featuring the housing some, week rebound over covid, and a loss of market sentiment. foreign companies are becoming less optimistic when it comes to prop -- propositions for the chinese economy. a survey by the japanese chamber of commerce found over 400 companies cut investment in the country last year. the vice chairman of the chamber joins us now. great to have you with us. i am sure that all foreign businesses operating in china are hoping for a better year in the year of the dragon. it looking pretty pessimistic.

masami: the japanese chamber of commerce in the industry received a response. our members continue. there has been a modest improvement. the main reasons international situations with china u.s. china set up a meeting. japanese companies situation in china. haidi: the political side has not helped either.

there have been various government crackdowns and changes to things like accounting and auditing rules for foreign firms. how much has that weighed into the overall picture given we have seen a steep fall in foreign direct investment? >> the japanese company from china, now a struggling investment in china. in addition, the restriction is still unclear. it will be difficult to maintain and. annabelle: i am curious, with the finding that about 80% of respondents to your survey

answered they felt they were treated equally with chinese companies. we spoke to the american chamber of commerce in china last weekend it was a different response. we heard from that body that u.s. companies were feeling increasingly less welcome in the country. what is the difference for japanese firms instead? masami: with the japanese company in china since the 1990's, japanese companies have a good tradition with the local governments in china. local governments in china have shown a lot of care to japanese companies. we have a big effect from the local government.

annabelle: order the biggest issues with labor costs? how significant is that? masami: a very good big program. china is better as a country. there were companies in china conducting business. haidi: great to have you with us vice chairman of the japanese chamber of commerce and andrea -- industry in china. an agreement has been reached

but hurdles remain. senators have released a bipartisan deal to impose new u.s. immigration restrictions to potentially unlock billions of dollars in ukraine aided that had been held up, a crucial step even as dementia continues to face long odds when it gets to the house. democratic leader chuck schumer and his republican counterpart mitch mcconnell both backing the compromise. if the senate planning the first procedural vote on the measure for wednesday. both the gop presidential front-runner donald trump he merely opposes it and many other conservatives. the bipartisan senate deal is a monumental step and senators must shut out the noise from those that want the deal to fail for their own political agendas. this has taken months of haggling by democrats, republicans command independence as well that have reached the deal. we can see house republicans

could still try to alter the deal more to their liking. we know that a lot of ukraine supporters could seek to attach aided to the upcoming funding bills essential to keeping the government open as well if the border issue continues to head into one -- into another stalemate. annabelle: it is certainly something to track closely, that response and possible implications. the earnings spotlight is moving to auto giants this week with toyota, honda, and nissan reporting. toyota results have been closely watched for any reports from recent scandals and electric vehicle goals. gareth allen joins us from tokyo. i am curious, what are you expecting from japan carmakers in particular? gareth: carmakers will be a big focus. we have toyota tomorrow at honda and nissan later in the week. consensus looks strong.

topline growth is somewhere around 20% or a little under and operating income level, 30%-40% growth year on year according to analyst consensus. generally the numbers will look pretty good. the underlying issue with toyota is a seemingly never ending string of scandals at its subsidiaries. from thy head to two toyota industries. pretty much, still not operating at all. although twitter has already seen quite a lot on the meta, and more detailed tomorrow, but anything we can get on their long-term impact will be interesting. haidi: a potentially interesting week with other earnings. a big focus on tech for japan this week. gareth: yeah. we have nintendo always huge.

things are looking more difficult for nintendo that was with the automakers. consistently showing a decline in profit third quarter. in focus for nintendo is of course the upcoming new console slated to be this year. any hints we can get on what that might be and what it might look like will also be fascinating. haidi: catch japan ahead every monday at 8:40 a.m. in tokyo. 7:40 p.m. from new york. watch us live on the terminal at the tv function. this is bloomberg. this is bloomberg. whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice... i can make this work. that seems to be universal. i can make this work.

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two samsung affiliates merged and a lot of people, prosecutors accused him and executives -- used him and executives to engineer illegal moves to help his succession facilitating succession. he is a third-generation leader of samsung. this has been going on more than three years. there have been more than 100 trials on the case. i think he attended 97 trials himself. this has been a huge shackle on samsung. they have to really clear this uncertainty. in november prosecutors in their final ruling said they were seeking five-year jail time. and a fine. today was a really crucial day

for samsung. the lower central district court is going to make a ruling on the case that has been going on for three years. expectations are varied. if it is cleared it will be great news for samsung. there is a chance the court may have a five year jail term and he will have to go back to jail. another scenario is he may be able to avoid jail time. if it is less than three years he may be able to avoid going to the jail. annabelle: in the scenario of suspended sentence does it mean he could leave the country that company or be in a position -- lead the company or be in a

position of leadership? if you sent back to jail, what is the significance of that? looyim: there is a chance prosecutors may appeal. if the outcome is bad, samsung will obviously appeal again. there is a chance this could go to the next court. if he gets a suspended sentence, he cannot lead samsung at this particular time. he said i don't november 1 the -- he said in november when the prosecutor sought a five-year term he consistently denied wrongdoing and pleaded for the court to give them a chance to leave samsung. these three years of uncertainty have taken a toll on the entire group. sk hynix, a smaller rival, has

used its time to accelerate development of their next stage advanced chips. a lot of analysts we spoke to think that has really affected samsung in a negative way. if he is able to avoid jail time, he will be able to lead and that will be great news for samsung. annabelle: that was our asian technology senior reporter looyim lee there. coming up, more market analysis with city wealth global investment head of aipac global strategy. and credit agricole tells us why they expect a bumpy path ahead for china's growth.

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haidi: this is daybreak: asia counting down to market opens in japan and south korea. what a start to the week. you have u.s. strikes on a rock -- iraq, houthis distinct tensions in the middle east, changes around the fed after the u.s. jobs report, and beijing pledging a sentence -- assistance for its flooded markets. haidi: a busy start of the year certainly. we are continuing to watch the fed, the rba. the first decision of the year to take place this year as well. we are watching as with every central bank this year signaling, the communication that will be key. annabelle: we certainly want to know what they will indicate around fed rate cuts. we have lines just dropping on jay powell. i think you will have more

contacts on