>> it's>> almost 11:00 in shanghai. here are the top stories. asian stocks mirrored declines on wall street due to rising bond yields. the yen falling through a level that prompted the last round of suspected intervention. votes are counted in south africa's most closely fought election since the african national congress came to power 30 years ago. we have the latest from the ground. plus, temperatures in india's capital hitting a record 52 degrees celsius, stoking demand for electricity. we speak to one of the country's biggest guest distributors about whether the heatwave will affect

prices. let's get you to markets. you know what, global route continuing. stocks, bonds falling. it's about time for a correction. avril we are seeing that coming through today. the stocks are coming under pressure along with bonds and currencies. this is against the backdrop of higher than average u.s. yields after a soft treasury option. as one of our colleagues has been pointing out, a bit of a triple whammy for the asia. the weak japanese currency and the weak chinese currency. the korean won leading declines in the region. the nikkei has been under pressure, the biggest decline in the asia-pacific today. those higher yields in japan sapping the appetite for those growth names but higher yields in japan not having the -- helping the japanese currency.

it breached that earlier on. 1577. dollar china also in focus. the onshore rate have her -- hovering at 725. we are seeing the onshore rate hovering closer to the upper limit of the trading band, the 2% limit. it's approaching this level. expectation that we could see a stronger fix today. that's not what we got. second straight day where we got the fix, the weakest since january. the pboc letting the currency weaken. it's not that the pboc is letting the currency go. it's mobile -- more about accounting for greater to demand -- greater demand of foreign fx. yvonne: let's bring in steven chu and mark cudmore. the overall sentiment in the

market is in the negative. that's due to the disappointing seven your auction. you can't help but feel that these auctions are having greater sway in markets nowadays. >> that's fair. i was saying, there's a massive auction scheduled this week. most of our team are like, not a big issue. nonfarm payrolls next week. the fed coming up. the new projections. those are the bigger issues. it was interesting. we dismissed it because the backdrop picture is yields continuing to go higher. global yields and u.s. years have -- yields have more to go. the idea that there is still rate ties -- cuts doesn't make sense. the base case should be no move either way. until we get more into the narrative, yields have hired to go. haslinda: rates, yields tend to go higher. how high can they go? it's not just in the u.s., it's elsewhere in the world as well. >> it's a global theme.

we haven't had the recessions around the world to control the inflation we let get out of control. services inflation will say sticky. volatile goods component also re-inflating via commodities, shipping dynamics. central banks can either tolerate higher inflation which is more dangerous down the line or they can get better. in reality, they will try to ignore inflation until they are forced to get serious. yields need to keep on going higher. haslinda: it's about fx, the yen, the yuan. when will intervention come in? they say 160 is the level we are looking at right now. >> i mean like, interestingly or boringly, similar to a year ago, it is still about how your u.s.

yields for longer. even if you get one cut or to cuts in the second half of the year, it doesn't mean the fed will keep cutting. higher for longer would stay for longer if that makes sense. that's why the broad dollar resilience is going to stay. hence asian currencies, everything a one of them except singapore and hong kong, will remain under pressure. the market has calm the little bit after the suspected boj intervention. the rate differential is still huge. that's why you see dollar-yen slowly crawling back towards 160. if the june fomc doesn't provide any hint of a fast cut early on in the second half of the year, probably that could be a trigger back to 160. it will be interesting to see what the bank of japan will do. >> i'm curious about your views on the idea that, let's take out the dollar component. the you think in the world where the fed turns lower, how does

yen do? will it continue to suffer on the crosses against other asian currencies in a world where the fed is cutting rates? >> it is still a rate differential story. if you look at yen cross asset, japanese yields versus the rest of the world. yes, japan has stopped hiking rates. they might hike another 40 pips. in this world, it's basically so little. it depends on whether the other major currencies cut fast enough relative to the yen. if the ecb cuts in june and cuts further, probably the young perform better. they say the dollar, of course it is still going to be under pressure. haslinda: we keep waiting for the boj to do something about the yen. the thing is, it's getting more

difficult for the boj to take action. yellen saying, that shouldn't be the first call in terms of supporting the currency. g7 finance ministers also saying they are not tinkering with the fx movement. so where does it leave the boj? >> is very interesting. if you look at the call notes from boj officials, they've been admitting explicitly that a weaker yen is causing problems for inflation. in terms of monetary policy, it's possible that they want to hike earlier and slightly faster. even if they can hike earlier and faster, it's not going to be really fast. first, they may help billion a little bit upon the announcement. at the end of the day when the market looks at the broad rate differentials against the u.s. and other major central banks, still talking about half a percentage point policy rate in

japan even if they hike. that's not going to be enough for the bank of japan to support the yen. if that continues, intervention may have to come back again. haslinda: you raised your eyebrow when i said that it's time for a correction in the market. look, 23 of the past 30 weeks have seen an increase in the s&p going straight out. it's time for a correction, isn't it? mark: you are right. i'm disappointed by this tv had today. i agree with everything stephen says which is no fun. i want to have a bloody argument. he's right but that's one part of the fun. the other part is, my most since inked markets view today, i'm stealing from you. in the break when you said, we've had five weeks. we are doing consolidation. you are right. the bull market will go on. it will take a couple weeks for

the consolidation but it's nothing dramatic. haslinda: isn't there a key event to be looking for? nvidia stocks split. that may move markets. mark: why is that going to change the overall narrative? it's going to cause short-term volatility. haslinda: this has been driving market sentiment. mark: you are right. maybe that will be the catalyst. i don't see that changing the narrative. nvidia's earnings were not only good but the forecasts were good. from the micro level, the ai bubble, and i do think it's a bubble, is not ready to implode yet. that will be challenged at some point in the future. we have at least another few months to challenge it again. i think overall, the bull market has another few months. does that mean the consolidation can't last a couple of weeks? but the backdrop is still good and dips will be bumped in this. haslinda: just your thoughts on asian currencies. we talked about higher yields.

how might that impact the rest of the asian currencies? >> it's pretty much the same as over the last year. in asia, the higher yields are's may be more resilient against the dollar. philippines, indonesia, india. especially in the case of the philippines and india. it's interesting because their currencies against the dollar are approaching record lows again. you can see more forceful wordings from the r.b.i.. these high yield or's will support this currency. for the rest of asia, the low yield could be hurt more if the higher yield u.s. dollar strength start to continues. haslinda: same old same old. still ahead this hour, our extrusive interview with --

we discussed their bid -- business outlook and a new ev adoption policy. we will tell you who is leading, coming right up.

>> welcome back. ballot counts are underway in south africa after contentious national elections. the national congress is at risk of losing its parliamentary majority for the first time since taking power in 1994. for the latest, let's get to our senia -- senior african reporter in johannesburg. it's too early to make a call but what do we know so far? how is counting going right now? anthony: very very slowly. 0.8% of the votes announced. the opposition party with 22%.

everybody else below that. so there's a very long way to go. haslinda: what do we know about the turnout for this election? going into it, apathy was one of the concerns out there. they say that the higher the turnout, the more the anc will benefit. anthony: well, we don't have any exact figures yet. the electric commission has forecast that we will probably be about 56% which is a lot higher than last time. we were just under half. so it's reversing a long-term trend. more people have gone out to vote this time. haslinda: talk to us about how the voters likely voted. we know unemployment was a huge issue. disillusionment about the lack of opportunities in the country also an issue. anthony: there are a host of

issues. there's a high unemployment rate . one third of people are jobless. there's an issue. also service delivery. basically there have been power cuts, water supply is not what it used to be. they can be erratic. passenger chain -- trains don't work well. the same for freight trains. it's all very inefficient. been run into the ground over the last 10 years. while the government has come up with a lot of long-term plans to improve those, it will take a long time to see any kind of real difference. people are very frustrated. i think that may have been quite a big impetus to get people out to the voting stations to cast their ballots. haslinda: thank you for the update. of course, you can turn to your bloomberg for more on this. go to tliv to get

commentary and analysis from bloomberg's expert editors. here are more geopolitical stories we are tracking for you. israel's national security advisor says the defeat of hamas won't happen before the end of the year. his comments come as the u.s. says a fresh cease-fire deal has been offered in hopes of prompting additional negotiations between the two sides. health officials say more than 35,000 palestinians have been killed since the war began. china is sending a new pandas to washington's national zoo, reversing course after having taken back all the animals on loan to the u.s.. the zoos as the pandas will stay through april 2034, in keeping with prior agreements. the bears and any offspring will remain chinese property. previous set left washington in november after a disagreement on their stay. the u.s. worn beijing it will

face consequences of chinese companies continue supplying russia with components for weapons used to attack ukraine. the deputy treasury secretary spoke to us on a visit to kevin, repeating that washington is open to further sanctions. >> the mood in the capital is one of urgency in terms of doing everything they can to defend their country. i've been impressed by the brave men and women here in ukraine and the fact that they are committed to fighting for their freedom and doing everything they can to build an economy and to build a free and democratic country. i'm here because the united states wants to be their partner in doing exactly that. in addition to talking about sanctions, i've been able to talk about economic support and the ways we can make sure the united states and our allies stand with the brave men and women of ukraine. >> you said just yesterday in kyiv that it on acceptable amount of weapons components are still getting into russia.

there's a sentiment that sanctions are simply not working. as the treasury point man, does your trip confirm that? >> my trip confirms that we need to do more to make sure that our sanctions continue to stop russia from being able to get the goods they need to build the weapons they want. the kremlin has charge their intelligence services with getting around our sanctions. we are concerned that russia is getting access to key component parts particularly from china and other countries that are allowing them to build weapons. when i'm here to do is talk to my counterparts about the new tools we are considering to try to go after the ability of the kremlin to do just that. fundamentally, we can't do this alone. we need to do it with our allies and partners. that's why i'm heading from here to germany to speak to my counterparts about the importance of us acting together. >> we are looking forward to that speech in berlin. will you announce secondary

sanctions against those responsible for those components getting into russian weapons? >> i'm not going to preview it or the actions we will take. i'm going to talk about the fact that the united states and our partners are going to be open to sanctioning any company or individuals that provide material support to russia's military industrialized complex. we want to make sure russia doesn't have access to the goods they need to fight a war here in ukraine. haslinda: that was the u.s. deputy treasury secretary speaking to bloomberg's joe mathieu's. plenty more ahead on the show including the deal that fell through to do with bhp. is walking away from its $49 billion bid for anglo american. the ways it could expand its copper business, coming up next. this is bloomberg. ♪

so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment...

...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh

haslinda: here's a look at how bhp is trading. under pressure, down almost 2% after it decided against making a firm offer for engle american, walking away from the biggest mining deal in over a decade. clara ferrera joins us now. this is a deal years in the making. the truth is, it is a complicated deal. clara: that's right. anglo american has been the single most obvious mining pray for the sector. has the prized copper assets but also businesses people don't want including the anglo american itself, to judge by its own plan. bhp tried to work around some of

those complications with this effort to get anglo american to spin out some of its own south african businesses. in the end, he could not provide enough reassurance. it all fell apart just an hour before the deadline last night. haslinda: $49 billion deal. the biggest deal in 10 years. the thing is, how much value would have -- would it have created for shareholders? it's humongous. clara: they have a poor track record when it comes to big deals. they typically come in at the peak of the cycle. lots of the deals were done in cash. just a series of disasters. this time, they are coming at it in a different way. if you look at how bhp has positioned itself, it is very much in shares. they are also backing away as soon as he gets to the concessions. i think shareholders, today you

have seen shares, for bit. that's largely because this is what people were expecting. the mood music was pointing toward this. shareholders say they are happy with how things have gone and the fact that bhp has managed to show restraint. haslinda: there is still some disappointment. this deal would've secured copper supplies for bhp. what happens to that now? clara: that remains the target. bhp has made it very public that that is what they want. that's what the whole mining industry wants. very large copper mines are difficult to find and develop. they take 30 years even when you do find them. anglo american's assets are the jewel, surprise everyone wants. the question now for bhp is, if anglo american stumbles, can they come back in six months and get this more cheaply >> do they simply progress with their own options to try to grow this copper production themselves? are there other targets out there? haslinda: thank you so much for

that. in the markets, we are keeping an eye on china property stocks on the back of news from logan. this is the chinese developer entering a crucial stage in its a billion-dollar offshore restructuring with just three months to pay or refinance a loan or risk losing control of the key luxury home project. we've heard that jp morgan has been engaged to engage in free work -- in refinancing. down almost 3%. sumac china also under a lot of pressure. down more than 5%. we are keeping an eye on china trip stocks as well on the back of chinese memory chip stocks rising. samsung's union plans a strike. it plans to carry out an inaugural strike. china accounts for 10 to 15% of same songs revenue. take a look at where we are in

terms of that. samsung electronics down 1.5%. shanghai currently higher in the opposite direction, by more than 10%. coming up, we are live from the hstech summit here in singapore where industry leaders are gathering along with our very own annabelle droulers. what's in store? >> annabelle: thanks. really big focus not just on ai and its capabilities but also the pressure that tech is increasingly putting on energy grids as well which has had singapore senior minister of state announcing a new green roadmap for the city. more information on that ahead. a lot to discuss. this is bloomberg. ♪ food isn't just fuel to live.

it's fuel to grow. my family relied on public assistance to help provide meals for us. these meals fueled my involvement in theater and the arts as a child, which fostered my love for acting. the feeding america network of food banks helps millions of people put food on the table. when people are fed, futures are nourished. join the movement to end hunger and together we can open endless possibilities for people to thrive. visit feedingamerica.org/actnow

haslinda:eure, down 2/10 of 1%. in line with the rest of the region which has been weighed down by disappointing option which we saw overnight in the u.s.. when it comes to morgan stanley, it says it's less bearish on china. it's been increasing exposure to chinese stocks on cautious optimism that share buybacks bird -- spurred by the government will help boost prices. csi 300 index under pressure along with the other bent marks. chinese yuan trading at 72495, unchanged versus the usd. pboc fixing the currency, weaker than anticipated. suggesting that it is perhaps

quite comfortable in having its currency weakening. perhaps a reflection of the economy. china heading to lunch. japan coming from the lunch break. >> markets after lunch but we still have the hung sing running. i wanted to highlight what we are seeing on chinese tech. tech has been responsible in large part for the april rebound. amid the earnings optimism initially. but we've actually seen since the peak in may, it's down 9% since then. we are on watch for technical corrections. it's quite a swift reversal of sentiment towards these chinese tech names amid concerns about their profitability, potentially taking a hit given the price war among them for ai offerings. the other thing i wanted to highlight, the japanese yen has gone past the level which is thought to have last prompted intervention earlier this month.

our colleagues have been pointing out that 160 is the next level to watch. a bit of a recovery there. even as the slide in the yen against the greenback moves the momentum, they point out that there is still the concerns about how it's faring against the euro or against the pound. it's about the yawning rate gap. even though the boj is sounding hawkish, it's not enough to overcome that gap. as the yen in focus, is the worst performing asia currency this year. the thai baht is second in line. today, pressure among higher u.s. yields. indonesia not doing that much better. the dollar holding steady. haslinda: thank you so much for that. now singapore has launched a green data center roadmap which aims to chart a sustainable pathway for the continued growth of the facilities.

let's cross back to annabelle. annabelle: thanks. we've got singapore's senior minister of state joining us. we can get started with this new roadmap. you are hot off the press announcing that. what exactly is it? >> a series of pathways we hope businesses can get on board, thinking through how they do their hardware efficiency, software efficiently, the kind of partnership that we want to see between the data center operators, their clients, and the energy providers. we want the increasing use of green energy. this is a roadmap to that end. we lay out the 300 megawatt delta and the capacity that we can guarantee. this is resource allocation. then a sense of ambition that we want to do much more.

the industry players have come to us. they've got some ideas of the kind of partnership they can put together with energy providers. if we can do that, great. if we can do more, even better. >> 300 megawatts of additional power in the short term. it is not enough? the world bank was reporting that the amount of energy that's needed for ai tools is doubling every 100 days. that's a lot of extra power capacity that's needed. >> that's why we have to work on the efficiency side as well. we have to reduce the consumption and increase the efficiency. we have to do so in every possible way. whether it's about the software. we have to find ways for the business model and operating model to use software in the most efficient way possible, reduce the energy, then maximize

the benefit out of any capacity we can unlock. so we want to do both. we want to grow the data center space. we want to increase the utilization. we want to make sure that we do so sustainably. >> how do you do that though? how much extra efficiency can be squeezed out? where are you reallocating resources from? who loses out on this scenario? >> we are working with industries. we didn't just start working with the industry today. what we are putting out is on the basis of very strong collaboration with industry partners about what is possible and what is necessary. so the amount that we are talking about, it is something like a 35% increase. it's not small. it's a significant gain and will

create opportunity. from our perspective, the main thing it will do is engage in exploratory and experimental process about greening the space. if we can do as much as that is possible through green energy, actually we student stop there. is that enough? the market will show us. it will show us how far we need to go. >> how are you dealing with increasing emissions? >> any increase will be associated. that's the way it is if you are using fossil fuels. right up front, we have to reduce consumption, increase efficiency, and put that green energy component on the agenda. we are telling the people, the industry players who want more capacity, we are saying, there has to be a green energy component to that proposal. that will inform our way forward. this is what we were worried about. but the increase in the

missions, ai is not all bad. we want to use it for good. we want to deliver social good and public good. we need to be able to engage in the space. that means making the capacity be -- available. >> all of singapore's energy comes from fossil fuels. >> that's why we have to work hard for the green energy transition. >> where does it come from? singapore has limited resources available. >> indeed. we are a resource constrained island. we don't have natural resources. we are going to have to import energy. we already do. that's her situation today. if we do as much solar as we can , it might account for three to 5%. we are going to import green energy.

it's not yet settled. that's the hard part of the energy transition. working out, what are the business auto -- models to get us through? the situation that we face in singapore, we are all going to face eventually. we are facing it earlier because of the situation we are in geographically, in terms of our economic development, and being a small resource constrained island. we have to get started earlier and move faster. >> 300 is the government guarantee. the 200 is coming from green energy. is that the portion that comes from private sector investments? >> all of it will involve private sector investments. 300 is what we are certain about. the 200 is on the basis of, these are the existing industry proposals. this is what they've come to us. here are some ideas that we have

working together with the energy providers and other businesses. we think this demand and disability to support the demand for green energy. that's an indicative sense of how far we can go on the basis of today's thinking. >> that's positive. do data centers get more space? >> they will have to. we do have a fair amount of experience with innovative architecture and engineering in singapore around data centers and compute. so we are land constrained. we find ways to make space available. >> what are you thinking about? >> as in? >> you are planning to give further space to data centers. what's the amount of space? >> we haven't settled on a specific amount. >> could you give us an indication of the vicinity? >> no. not the specific location. it's a 30 to 35% increase from where we are today. it's not just going to happen

because we turn the temperature up in a handful of data centers. it will require the allocation of serious resources and that's what we are going to do. >> we've seen singapore have competition with others in the region. we've seen a lot of investment from the likes of nvidia. there's a bytedance backed data center as well. are you seeing any sort of ground being lost? >> the market is large. there's a lot of opportunity for everybody. we play a regional role and we play a role as a global part. we support businesses throughout the region. so the market is large. there's plenty for everyone. the type of businesses and operations that are located here are not the same as elsewhere. these are decisions that businesses will have to make. most of the businesses that use these large centers and services that we have available in

singapore, they are not serving the singapore market. they are serving a regional market, a global market. they have operations including computer operations in other jurisdictions as well. this type of partnership is not a zero-sum game competition. it's a playbook that's been working well for some time. creating opportunities for the region, the businesses, singapore. >> talking about singapore's new green roadmap, just announced earlier this morning. haslinda: big enough pie for everyone. thank you so much for that coverage. the singapore senior administer of say -- state and information. annabelle droulers helping the summit for us. staying with southeast asia tech. google says it will invest $2 billion in malaysia including building a data center in the state of solano. the investment will support $3 billion in positive economic impact, creating 27,000 jobs by

2030. google says it's to make growing demand for cloud services and ai literacy programs. ahead, a new ev adoption policy could threaten the growth of india's carbon-based energy suppliers. the managing director will be joining us for an exclusive interview. keep it here with us. this is bloomberg. ♪

haslinda: welcome back to bloomberg markets: asia. india starts trading in just under two minutes. we are tracking steel. a lower open for the stock as profit fell 64%. on the back of lower steel prices. surging steel imports hitting steelmakers everywhere. underwater at this point in time. futures pointing to a lower open of 1.3%. we are keeping and i on in of eyes shares dropping 16% in premarket trade on the back of the r.b.i. imposing curbs on to edelweiss companies. temperatures continuing to soar across the country. almost 53 degrees celsius. maximum temperatures varied from

45 to 49 degrees across parts of the city. the heatwave and the serious health risks sending peak electricity demand in the capital to an all-time high. let's discuss that and more with our next guest who runs -- joining us exclusively from new delhi. the heatwave in india, what does it mean for demand for fuel, electricity, gas? >> good morning to you. yes. you are right. the extreme heat has gone a. also fuels that are used. they are also seeing an uptick. energy demand is very high due

to the extreme weather conditions. >> can you quantify that for us? how much higher is demand? >> in energy terms, if you see power demand, that's increase by 10%. big demand. if i talk about cng demand, we are seeing four to 5% increases their. you can see that some of the demand has also been affected. cng is a mixed bag. on the one hand, the demand is there. on the other hand, the schools have been prematurely shut due to the extreme heat wave. >> how are they responding to

the increased demand? >> i think more and more gas based capacities are coming downstream. we are seeing that some of the grants which would -- which were not affordable in normal times, they came on stream on plants that have started picking guests. a few months back, the summer started. the units started consuming gas. in a sense, the oil and gas demand in india has increased by 10 to 12% due to the demand. >> we know that india is making a transition to clean energy. delhi will be converting its buses to electric.

how might that impact you and your earnings? >> yes. actually india has a commitment for net zero. 45 percent reduction by 2030. we always knew that gas was a transition fuel. petrol diesel to gas and then renewable sources. that transition, we see that in delhi laying out perfectly for the last 25 years. we had this city transport running on cng. now they are converting to electric. we believe that electric has a long way to go. electricity today is 75 to 80%. only 20 to 25% is green.

in that sense -- haslinda: at some point though, that electrification effort will hurt gas sales. what are you looking at? what are your own estimates? >> we have already started seeing the effect of that. whatever road we are heading is getting a negative vibe, especially of the public transport systems. we have seen a reduction of around 45%. they were one of our biggest customers. in the lex -- next two years, we see demand going up.

4% demand coming from the city bus of delhi. the daily transport cooperation. that's a timeline they've given us. haslinda: you talk about rising demand for natural gas. you have to secure those supplies. any difficulties, any challenges in securing that in the supply chain for instance. >> it has economic advantage as well as a regular advantage. adding this discount to the existing liquid fuels like petrol diesel.

that's a challenge. in that sense, the smart crisis -- prices are increasing. [inaudible] it's a challenge. not from the supply part but from the pricing part. haslinda: given the assumptions you are making, where do you see natural gas prices ending 2024? >> 10 to $12 as the names that we see in the balance part of the year. haslinda: before we let you go, how are you diversifying your business? what is your growth strategy? >> one of the strategies towards

securing domestic gas. our target is 10% of oversupply over the next five to seven years time. the targeting goes to 0.7. on the one hand, this will provide a stable source of supply. this is the cheapest source. the taxation advantages are there. there's a push and we are sure that that will become key.

second would be the space where we see the midian and heavy commercial segment. when we look at the demarcation journey, that's the option available. haslinda: thank you so much for that. india has been trading for seven minutes now. let's do a check on stocks on the back of r.b.i. imposing curbs on two companies. the ecl finance as well as analyze asset reconstruction. we are seeing pressure on those stocks as well as its unit named by the r.b.i.. plenty more ahead. keep it here with us. this is bloomberg. ♪

haslinda: let's take a look at the bond market in new zealand as well as australia on the back of new zealand's new center-right government delivering on its election promise and that's to cut taxes and its first budget even as the treasury forecasts bigger deficits and delayed return to the surplus.

14.7 billion kiwi dollars. this is the finance ministers first budget. we have new zealand delivering on its election promise to cut taxes. take a look at where we are in terms of u.s. assets as well. stocks and bonds under pressure yesterday. on the back of expectations of rate cuts coming on later. higher yields weighing on asian stocks. as an be futures down about half a percent. horizons middle east and africa is next. keep it here with us. this is bloomberg. ♪

en you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh

her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name!

it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.