annabelle: thanks for your time, paul dobson from singapore.ou can get a roundup of the stories you need to know in today's edition of daybreak. terminal subscribers, it's also available on mobile. you can customize your settings so you only get news on the industries and apps that you care about. this is bloomberg. ♪ annabelle: microsoft shares have closed with the tree chewing dollar valuation for the first time as optimism over ai fuels and advance. it's now one of only two stocks to top that level along with apple. meanwhile the company has announced job cuts to 1900 positions across its gaming's division, including activision blizzard. chris joins us now. i'm interested because a lot of companies out there have ai offerings, but what is it about microsoft suite that stands out among the big tech landscape? >> their position in openai has been the big news there, you saw the news today about the ftc giving scrutiny of that and other operators. so that is the big story there. we'll games a very different, these cuts are being driven by the h

we talk about the positioning story with paul dobson. talk about what the yen is going to do, we have to talk about whether or not it's in tandem with what you see with the two-year treasury. here's why this matters. this speaks to the positioning within dollar-yen there really is a function of a lot of people waiting in shorting this. you see the big divergence between dollar-yen and two-year treasury which really shows you on the chart just how much of a dislocation it is in the market as we start to see the boj forge their own path. i want to get a little bit more analysis as we bring in one of my favorite markets reporters, avril hong is standing by for me. you have covered this from the region, you are in singapore, you cover the story from different angles. i'm curious about this dislocation. is this something that, if concerning, when the boj as a track record, a very experimental monetary policy, should we be concerned the boj is on a different path than the federal reserve, the ecb and other central banks around the world? avril

joining us for more analysis is bloomberg's executive editor for asian markets paul dobson. you. we've had this lack of seasonal firing driving up initial jobless claims figures yesterday. what are you expecting from the nonfarm payrolls report for december today? paul: that's the concern of everybody. that labor market data is looking stronger than expected. the narrative toward the end of last year in the u.s. was the labor market is starting to weaken starting to roll over. that fueled those bets the federal reserve was going to be able to start cutting interest rates may be as soon as march. when you would need to start cutting interest rates as soon as march depending how bad the data is. we have had the jobs numbers and the adp coming out stronger than expected. that has given the market caution. we have seen that figure back up yields pushing higher. people pairing their bets on when the federal reserve might move. the expectation, consensus for these figures is that we will see lower headline jobs numbers, we will see slower increase in average hourly earnings, sligh

paul: all right. paul dobson there. a new poll suggests donald trump gained most from the exit of ron desantis from the republican presidential race, opening a 22-point lead over nikki haley. voting is underway in new hampshire's primary where nikki haley is the last major challenger between the former president and the publican party's nomination. jodi schneider joins us now from new hampshire. why is it so significant and how unusual is it for this to be effectively a two-person brace at such an early stage? jody: yeah, very unusual to be a two-person race. the last time there were about 10 people in it at this stage, so nikki haley said she wanted a two-person brace and is getting a two-person rate but with the challenger like donald trump it is an uphill fight for her. we heard today that reports of strong turnout, particularly among moderate and independent-minded voters, which will help her, because those of the voters she appeals to. she also appeals to voters who did not want to vote for donald trump. we will se

paul: all right. paul dubs and their -- dobson in singapore. some stocks moving in australia. off, the iron ore fortescue metals with the second order iron ore shipments higher quarter on quarter, but falling 2% on quarter from a year earlier, fortescue sang demand remain strong for iron ore. shares rising 2% at the moment. we heard from santos with its quarterly production numbers, maintaining 2024 outlook between 84 and 90 million barrels of oil equivalent and production 23 .4 million barrels equivalent was slightly higher in the third quarter coming into the fourth. shares rising slightly. materials doing well on the broader asx with the market her by .25%. bloomberg users can interact using gtv to browse recent charts featured on bloomberg tv. you can also catch up on key analysis and save those charts for future reference. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh annabelle: you are watching daybreak asia. taking a look at sk hynix. it is recovering so

annabelle: that was paul dobson joining us from singapore. candidates make their final push for votes ahead of elections this weekend that will set the course for relations with china. we report from a ruling party rally later this hour. first we are back live at the ubs greater china conference in shanghai with the bank's cohead of aipac m&a. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com annabelle: the ubs greater conferenc -- greater china conference is underway bringing together policymakers and investors. let's discuss the m&a landscape after the sectors worst year in a decade which saw global deals missing the $3 trillion mark. joining us exclusively is samson low, cohead of aipac m&a advisory at ubs. thank you for j