♪ >> lawmakers meet on capitol hill in a bid to end the shutdown. it could -- a companies could come. >> the standoff may hit president trump's davos plan. they will make a travel decision day by day. world's top oil producers hint at extended upward curves. saudi arabia and russia say their strategy is working. up.witter earns a thumbs falling better than expected results. where it ism sydney

just passed and then :00 a.m.. this is "daybreak australia." >> just past 5:00 p.m. here in new york. day here in new york. that is for the weather. in terms of the feeling here, the sentiment, we are all focusing on what is happening with this partial government shutdown. it is interesting because over the first 24-40 eight hours, not so much is happening. you could look at what is happening on friday, investors were -- we hit records for the s&p 500, as well as the dow -- excuse me, the nasdaq. the dow getting close to its record. it seems that people are thinking that it will -- it will not make much of a difference. when u.s. markets open here on monday it might be a different

story. let's check at the dollar. we have been seeing the fall over the past few days. earlier in falling terms of its relativity to the euro, especially with german chancellor angela merkel seeing that step towards a new graham coalition between the social democrats as well as cdu. it will be interesting to see as those talks continue, where the dollar goes. we have been talking about the dollar potentially following -- falling over the course of next year. been astounding is the resilience, the sense of durability to the rally. largelyarkets really flagged as we got closer and closer to the deadline at the end of last week. it is worth pointing out the morning note saying, the last three shutdowns in 1995, 1996 and 2013, we thought games for the entire period for the s&p.

it being thet sentiment. when itook at the setup comes to the monday morning session. new zealand with trading underway, wellington has a public holiday. stocks up by 3/10 of 1%. kiwi dollar trading at 70 to 84. -- 7284. the sydney open, we are looking up positivity if you take a look at the future session, about four about 5%. pretty light when it comes to the data calendar. keep in mind that the aussie has been pushing these highs. it was up by over 1% last week and also a sixth straight week of gains for the aussie dollar. take a look at gold. we have had the bout of u.s. dollar weakness to support

precious metal. gold up by 4/10 of 1%. crude at 6337. russia and saudi arabia, the two oil ministers telling bloomberg that they will preserve these cuts until the end of the year to clear the global what. global -- to stable prices is what we are getting for opec. a quick look at iron or is up by 1.5%. let's get with tom mackenzie in hong kong. he: opec and russia save will maintain oil production curves through 2018. they hint that they are ready to cooperate beyond that. the minister told bloomberg that were structured and's would stay until the market rebalances. neither he nor his saudi council will confirm the curve what extent into 2019. the international energy agency expects strong crude next year. we assume that corporation

between our countries is long-term. regardless of whether it is in terms of the markets, market stabilization or other areas. our corporation is based on the agreements we have in china. years, we will.5 have implemented this. we have shown a very successful run. afghan security forces have ended the siege intercontinental hotel, killing the last of the six militants involved. at least 18 people died in the attack, including 14 foreigners. the taliban carried out the attack at the heavily guarded building that is popular among tourists and afghan officials. a new bloomberg survey suggests bank of japan governor is an increasingly strong favorite to win a second term of the bank. the economist we spoke to said they are likely to see the yen

rise and stocks fall. the governor has been in charge since 2013, implementing a unprecedented stimulus program and kickstarting the japanese economy. the euro gained as social democrats open talks with chancellor merkel. they paid its way for the fourth term for the chancellor per to welcome the vote before meeting her own party leaders to plan strategy. coalition talks are expected to start as soon as tuesday, ending for month a political film and. global news, 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. a group of u.s. senators are working on a compromise to get the u.s. government funded for three more weeks, even as the immigration debate continues. the federal government shutdown on friday for the first time since 2013.

all out ofowing it washington. is there a realistic chance that we pull back from the abyss before monday and people start to notice the impact of the shutdown? not know that we can say that for a fact. we do know that there will probably be a vote at 1:00 a.m. eastern time tonight held by majority leader mitch mcconnell. we know that about 20 senators have been conferring privately today. senators have been talking and they plan to talk to chuck schumer, the democratic leader, and mitch mcconnell to bring a plan that they really want to see the shutdown ended they could get a commitment to bring up elements that democrats are so keen to see. specifically, dealing with the daca program after the

government is reopened. we know that there has been some progress made tonight, we don't know how it is playing with leadership. and also playing with the white house. -- whathat is the sent has the centrist group and working on, and does her activity suggest that party leadership on both sides are out of the mainstream ?r? ros: we have strong comments from lindsey graham. is a republican from south carolina. they both went to the white house 10 days ago with their middle of the road immigration plan and that was knocked down hardliners.se graham had some tough comments about every time the immigration isate and the budget debate scared back to the center, hardline is at the white house and in congress. the white house really steered

right, hardline position. he called out steven miller, who is a senior aide to president trump. he called him out today as someone who is helping to derail the talks. toler was not elected anything and might not be a popular figure among senators is feel like they -- he undermining their efforts. on the democratic side there may be some senators and congressmen who feel like they do not need dock at thismap on point. they think it would be better for them to just get the government open. on each side of the debate there may be some lawmakers who are deeply entrenched with their pitches -- with their positions. topicshen you take the to the polls, it is interesting to see the dichotomies. latest poll said people

do support dock it in terms of three out of four. the issuemes to using for immigration to shut down the government, that falls to something like one out of two. who is to blame for that shutdown, republicans, democrats? on: a lot of messaging either side. and the support daca dreamers and young people who are being brought to the u.s. as children. it is very popular in opinion polls, but it is not seen as an issue to hold up a budget bill to close the government down over. republicans are trying to make made message -- they have it the military versus immigrants. president trump had a very stern tweet about this. we do not know who will emerge as the winner and the loser and this, but to some extent, both

sides are probably seen to blame. of winners andnk losers, you could think of political parties in power, but there is the american public in its entirety to look at. that is bloomberg editor ros. itntime, let's talk about right here in new york. we will bring in the ecr i cofounder and chief operations officer. is interesting because, taking a look at the s&p 500 and the nasdaq from friday, we did not get reaction from there. we are waiting for the pain, when will that happen. the would not look to markets for that. they are loving the momentum and looking ahead to a further boost for tax cuts and to profit, maybe for the economy. the draw we are seeing over the shutdown, and a big it is really registering. it may not a must this seems

like it is going to drag on for weeks. in which case it could start to impact the economy on the margin. remember, this year we will see people get some after-tax boost to their paycheck. a third of the government is shut down, some people will not get their checks. it starts to take the shine off if it lasts a longer time. i am not clear that it is going to. ramy: they said they been impacted the economy by 0.5% in the fourth quarter of that year. that was 13 days. some people might say we have not started it just yet here. let's say it went a week. what are your thoughts in terms of gdp? gets a little complicated because q4 can be seasonally strong and q1 can be

seasonably week. q1 mayassuredly disappoint a little bit and the blame game that is already starting can continue. the economy is probably starting i don't thinkck really changes the directed -- direction unless a goes on for weeks and weeks. then i think we would change our tune. i think it is of the order of what moody's was saying, a pretty small number right now. the greater concern that is over the conversation over the debt ceiling, or is that separate issues as far as market goes right now? lakshman: there are a lot of things going on in the fixed income markets. in the u.s. and around the world, certain technical levels andstarting to get hit

longer rates are edging up. anything around the debt ceiling lothe debt markets gets a of attention, may be oversized attention. i think on that score, it it is a little hard to say what will grab someone's attention, but everybody is focused like a laser beam on those long-term interest rates. haidi: in fact, if you are looking for the pain, you are looking at the treasury's mark with that tenure pushing above 2.64 for the first time since 2014. we will see more reaction as opposed to the equities run that has so much momentum behind it? that is a little bit difficult to understand because the equities and some of their valuations may be related to low interest rates. haidi: exactly. lakshman: exactly.

we are starting to have tension build in the markets, and it will be interesting to see what happened. last time he ran around 265, we were not able to break through and then it came back down. we have to see what happens here . i think that is just another ingredient in this drama we are the longer it goes on, the more tense it will get up. i think that is obvious, but people will feel that with fixed income markets. haidi: the shutdown is one thing, but if you look at it from the perspective as -- of water dysfunction when it comes to the administration and the president's ability to get his legislative agenda done, that does not bode well for the rest of the year. legislatorn the frank, yes. sometimes the markets you can argue like the gridlock. .here has been that case made it is hard to know exactly how the markets will react to what

is going on in washington, but they are very sensitive to that 2.650 right around the tenure and what is going on with longer rates around the world. ramy: looking at the policies here that are in play from daca to the wall, looking back through the course of history, we talk about who is to blame, who do you think it might be? the republicans have every single branch of power, but the democrats, as the republicans say, they are stonewalling and holding the government hostage. lakshman: there is definitely a blame game between now and november. this is all positioning for november. that will certainly go on. it is hard for me to say who is to blame. on the immigration front -- when you talk about economics and the economy, that is kind of important for economic growth. there are issues about the demographic growth in big

developed a economies. the u.s. has been marginally better off than other big g7 economies because of relatively open immigration. if that were to change dramatically, it would take a couple tenths of a point off our longer growth potential. the is just the math of how economy grows. part is population growth, working population growth, and part is productivity growth. a lot of other countries are dealing with this. that is white emerging markets grow so well. have the younger populations, germany, japan, these companies -- these countries don't have growth like us and you need outside growth in your population to get there. this over the course of past weekend people have been asking, what is the united states now at heart? the phrase that comes to my mind is bring me your tired, your poor, your week, your restless,

that now people are saying maybe we are beyond that and we need to bring in the rested, the rich and the smart. what are your thoughts on that? lakshman: that is a huge question. it is hard, the idea of competition. having a certain edge up, but having some true competition of ideas and performance. these are all really important things that have surfaced very well, and probably -- serviced very well and will probably service well in the future. i think we have a lot to offer there. ramy: we will stick around with you because we have to get to break. this is cofounder and ceo. you could get a round up of the stories you need to know in today's addition of daybreak. bloomberg subscribers can go to daybgo. you can customize your settings.

it is the only good news on the assets that you care about. this is bloomberg. ♪

will: the white house decide whether president trump and administration officials will attend the forum on davos this week. decisions have not been made decided onesident the 20 fifth and to address the forum the day after. he is expected to reinforce his america first message if he does go to davos. still with us is lakshman, the cofounder and ceo. china is stepping up to the plate as a champion of global liberalization of the new global order. if trump does go, he is a significantly weakened situation where he is dealing with the shutdown, and all sorts of dysfunction as detailed in fire

and fury -- "fire and fury." lakshman: he probably will not bring that up and focus on the upswing that we have had in u.s. growth since mid-2016. we have been in the cyclical upturn, as has the world. global economic growth has also an upswing and i am sure those will be the point that they will fit on, in particular what has happened in the last year. it often does point to the equity markets saying, look at what they are doing. the equity markets, to a degree, are certainly excited -- among other things, synchronized global growth. so much so that at davos, they put out a list of things that they worry about, or what is on the agenda, or the major concerns each year. now we see that the economy has flipped off the list of the top five things that they are

worried about. it is not that there are not other important things to worry about, but the economy has been up there and it is not there yet. now. the great and the good in davos is saying the economy is fine. ramy: want to bring in china. said if donald trump does not bring leadership, i am going to. what do we expect now as xi jinping has consolidated his power? lakshman: he will continue to tried to do that, for sure. you will see different countries, china included, try to take credit for the upswing in global growth. 2017.oming out of what none of them see here in the united states, or in asia, quite frankly, and china, things have already talked out. we are starting to cycle down. i think there are looking in the

wrong direction in 2018. the growth is starting to decelerate. we are not talking about a recession in any of these major economies. slowdownsking about going in different directions. it feels very different. you're bragging rights will be different under the circumstances. china is going to participate in this too. --ther point to keep in mind i know that last year and in the election, trade was a big deal. trade is a big deal between the u.s. and china. here, during the big synchronized global growth upturn, what happened? u.s. imported more goods from abroad than ever before in history, including from china. that is not great for u.s. growth. ramy: we will have to wait and see how that goes. i wish we had more time. thank you for your time on this. ecri cofounderman

and coo. this is bloomberg. ♪

ramy: quick check of the latest business headlines. the group will not default and will pay off all of its foreign debt. they are selling assets in the face of scrutiny over foreign investment strategy. the group sold most of its domestic theme park and hotel assets for more than $9 billion. haidi: they saw profit match expectations in the fourth quarter by refining. they rose more than 5% of $1.3 billion. the billionaire meets strong result as he faces competition

in retail. up next, opec production cuts will stay for the meeting. we hear from the energy themselves. this is bloomberg.

is 9:30 in sydney, where markets open in just 30 minutes. futures looking a positive, up 30 points ahead of the citi open. i am haidi lun. a beautiful day. ramy: and in new york, it was pretty warm for the middle of january. it is 5:30 p.m. on this sunday, and you are watching "daybreak: australia." let's is the first word news. tom: lawmakers a meeting on capitol hill in an attempt to on thecompromise government shutdown. they are hashing out lands to break the stalemate over funding , with mitchion

mcconnell indicating a vote in the early hours of monday morning. they are discussing options that could include stopgap federal funding through february 8. new research says the catalan independence campaign has hurt the regional economy. a bank says there is weakness across the board from consumer spending and tourism. they have slashed their forecast for spain, although the impact from the catalan campaign has been limited. to sell more states and state owned companies to boost revenue and even its strained budget. however, the government says it expects to exceed growth forecast. the deputy prime minister said the state raised $6 billion in 2017 and will sell almost seven times as many shares this year. the amount has one of the world's fastest-growing economies, but is saddled with high public debt. confident we can reach

our gdp growth target of 6.7% for 2018. to do that, we need to continue focusing on several key areas. we need to continue to strengthen the buying -- the banking and finance sector, lower interest rates and increase spending on the construct in sector, agriculture and service industries like tourism. office set to post the biggest gains in asian cities. pack withleads the the rents surging 25% is growing demand faces moderating supply. rent in hong kong central set tos districts are rise 12% over the period cured saudi arabia claims to have shut down a missile fired by iran backed militants. the target was reportedly a

saudi military base. the civil war has killed thousands of people and left millions displaced. it is part of a border struggle between saudi arabia and iran for regional influence. bitcoin is falling more than 40% 9,500. high of 19.5 -- 1 since has also fallen saturday. other blockchain currencies are down. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am tom mackenzie. this is bloomberg. ♪ haidi: thank you. let's get an update on the markets as we kick off the trading week in new zealand. wellington is in public holiday come of the trading is underway. come on dollar at 72.81

track for its sixth straight weekly gain. futures, seeing sydney up half a percent. the aussie dollar ticking up to the 80 sent handle. of gainsstraight weeks for the aussie dollar. let's look at what we should be watching as trading gets underway in asia with adam haigh. even after the phenomenal start the year, asian stocks are looking cheap when you compare to trading in the u.s.. adam: they're actually getting cheaper. pe,, the part of the equation is increasing faster. let's jump into the terminal and look at the chart, 5545. it shows you the spread on the pacific index and the price-to-book ratio and price-to-earnings ratio spread.

you can see how much that has been coming down to levels relative to the u.s. we have not seen in many years. one interesting observation being made by mark tinker is that a lot of this looks like 1997, but the fundamentals are completely different. comeau --ook weiss . e e-to-book-w he is advocating for bullish positions. ramy: we have to talk about inflation. has been widely flagged as one of the key risks for markets in 2018. i know you have been tracking a top fund is a place to benefit from this. adam: this is really kind of the equities angle as to how you play the inflation scare in 2018.

we've heard a lot about how bond investors can play this, they have been buying up plenty of tips and fixed income securities that could benefit from inflation, but in the equities space, the folks at dmv asset management in scandinavia have made some interesting changes to their allocation. let's look at the performance of the fund we are talking about overtime, this is 6026 on the chart. this has been a very good performing fund. certainly an argument worth listening to. their argument around inflation is that people are not pricing in the chance that prices do pick up faster than markets are expecting at the moment. they say this is entirely the wrong time to be making tax cuts in the u.s. and the economy will overheat as a result. they have dialed back both of their equity exposure and also six income exposure as well -- fixed income exposure as well to play into a scenario where you make it certain shocks during

the year as people adjust to the new environment, that prices bigger faster than expected. it has been a widely flagged problem this year, in many areas of the market, but still clearly many people have not adjusted to the fact that inflation could be the big surprise. ramy: interesting. -- global markets medic or markets editor adam haigh. curbsnd russia say output are to stay as they worked to clear the global glut. the russian energy minister and his saudi counterpart told us the oil market still is not fully rebalanced. >> we need to have enough intervene atdy to the appropriate time to adjust production to deal with fundamentals and market shocks. in the old days, ages to be

opec. opec countries controlled enough of global protection -- global production and export have that influence. size of the the market, we are approaching 100 , opec isarrels per day about 34 or so. we don't think opec alone can do it. that's why we waited until we had enough non-opec companies, led by russia, to come together in late 2016 and announce the declaration of corporation that started in january 2017. it has been very successful, the results speak for themselves. in december 2017 is at a record high. it was unthinkable when we started. thewe think as we approach

rebalancing by the end of 2018, what do we do beyond? wepersonal belief is that needed to extend the framework but not necessarily the production limits. that we areamework formalizing, hopefully, at a minimum, keeping the context between opec and not opec and finding a way to get together quickly and not have a year of negotiations and deliberations. >> you are on board with his continued cooperation? what mechanisms to think need to be in place for this? we assume that cooperation between our countries is long-term. regardless of whether -- of where it is in terms of the markets. cooperation is based on the agreements we have signed in china back in 2016 in september, and i think over the past 1.5 years, we have been implementing this and we have shown a lot of

success, we had a successful run. joined with 22rs billion barrels per day cannot ignore each other. we believe corporation can meet and help stabilize the market, or in other areas of the economy. once again, i would like to stress the almost two years of success have shown this. we will continue cooperating regardless of whether we need to extend the cost, because that would help the market, consumers and producers. a would like to remind you we have signed a roadmap an agreement to cooperate probably in the economic sense, which is for perspective projects. ramy: that was the russian and saudi energy ministers. we are joined by our energy markets editor. we just heard the big headline

there about opec and russia staying with the supply curbs. what are the other takeaways from this meeting in oman? aaron: i think the big takeaway is clearly opec and russia are on board. they reaffirmed they will continue the cuts through this year, the production cuts that have been in place. a also looked door open for coordinated activity next year. they did not say they would extend the cuts, but i think you're seeing the relationship between saudi arabia and russia, the world's two largest exporters, flores. that's why prices have risen to around $72 per barrel today. are seeing a global inventories fall. they're not to the five-year average levels, but you seen inventories go down. the partnership they have established, russia and opec producers, it is working.

liftinguction cuts are prices and reducing global inventories. compliance with an opec, i guess that is the biggest issue with u.s. shell, the two biggest risks? aaron: they are. we have seen high compliance levels -- complaints with opec members and we will have to continue to monitor that, i think the biggest risk is u.s. shale producers. you have the energy agency come out last week and say you may see explosive growth with shale producers. they will try to increase production. opec is theysk for miss any demand growth in the global oil market this year. oil demand is estimated to grow this year, and u.s. shale producers could grab market share.

haidi: thank you so much, we'll have to watch and see. a resounding commitment to low volatility and stable pricing coming out of the opec meeting in oman over the weekend. our energy market editor there in tokyo. coming up, central-bank meetings dominating the headlines in the coming days. we start out with the bank of japan. we will see what is on the agenda my next. this is bloomberg. ♪

♪ ramy: welcome back. three top central banks me in the coming days with a good japan leading the way. and his teamrnor open the way to lower stimulus? economics editor kathleen hays is here. yes or no? kathleen: we are going to find out, what we? i am here in tokyo come day one

of the bank of japan's policy meeting, and no policy change expected to be announced yet even though policy makers may be thinking harder about what they will say when they are ready to signal a change. why aren't they going to change policy? output is strong, industrial production, a buoyant stock market, tight labor market, these are seen as fueling japan's reflationary efforts. the output gap also adding to inflation. time, 0.9%, this and the key index is him was halfway to the 2% target. two weeks ago, an unexpected cut in bond purchases by the boj led traders to jump the gun as economists are speculating they might announce a move to cut back on those purchases. but boj watchers are saying no way, and "the wall street journal" reporting that at most they might be wondering how to best communicate any changes

they are making. here is what one of our boj watchers said a couple of days ago. >> the biggest challenges for the boj in the next couple of weeks is communication. they need to be very careful about signaling an imminent end, and imminent change to the yield that framework, because would lead to unwanted strengthening in the exchange rate. my guess is next week, they play it straight. reporters will probably be asking questions about the possible reappointment of governor kuroda, the latest bloomberg survey showed on a scale from one-hundred, he gets a score of 97 as the most likely of the -- most likely head of the boj. question, what will happen to the deputy governor positions also up in a couple of months? says the 10oj, ecb year note has breached 2.63% on

friday, a lot riding on the bond market. starting with the boj. haidi: also heading to the fed, as well. we heard from two officials from the fed on friday. was there any signaling going on? know, johnou williams, president of san francisco is repeating that he thinks three rate hikes will be at the right amount this year. let's remember, he has been recently listed as being on the white house list of top contenders to be the fed vice chairman keep that in mind with anything he says. ahead of bank supervision spoke on friday, not about monetary policy but he has a roadmap to deregulate banks, streamline capital rules and overcome the volcker rule, big changes to how stress tests are conducted, tailoring the rules to the size and complexities of banks. maybe smaller banks that did not cause the financial crisis won't have -- will have a low fresh

old -- low threshold. what weliams repeating already knew he thought but signaling where the fed is probably heading next week. haidi: thank you so much for that, kathleen hays. prepping for the boj in tokyo for us this week. danielle spent nine years at the dallas fed and is here. great to have you with us. tell me about what the fed is getting wrong. danielle: the problem is they really should not be conflating what we think of as being discretionary inflation and nondiscretionary inflation. this is before the recent rise in oil prices. we are seeing nondiscretionary purchases on the part of think we mustt buy the food on the table, the gas in the tank, clothing for our children.

that is running a 2% you have to year. the fed already hit target, and that is before gasoline prices rise, which is dragging down the preferred inflation method. discretionary purchases, those prices rising at 1.5% year-over-year and dragging down the overall level. i think what policymaker should be focused on as they continue to increase rates come up with expecting the first in march, is that what really hurts households, those prices are rising at her rate that is rising at aing -- rate that is already hitting their target. you are seeing these massive structural changes contributing to disinflation, not just in the u.s. but all around the world. argument has been very filed since china came onto the global stage was 1.3 million

other workers. i think that has been a huge challenge for policymakers worldwide, because we cap these tremendous deflationary instances going on the past three years. there has been so much more and focus now because you don't have one or two -- you have every major central bank in the world incapable of hitting their inflation targets. and we have not yet seen households say, gee, i was prices would rise faster. all take you back to alan greenspan, one of the few points we agree on, he said that the ideal rate of inflation for the average household is zero. i worry when you care about john williams being a contender for vice chairman because he thinks you should raise the inflation target to 3% or 4%. these things bother me. ramy: if you ask someone if they want to pay more or less, of course they're going to say less. i want clarity on,

he said expectations for consumer spending, in terms of history, this would fall. help me understand more. danielle: if you have to spend ife to fill up the gas tank, we are seeing food inflation, commodity inflation, if you have to spend more to cover day-to-day necessities, by definition you will have less money to spend elsewhere. [indiscernible] ramy: it looks like we may have just lost a danielle, but we thank you for your time. columnist and money strong founder danielle booth. there is much more ahead. this is bloomberg. ♪

♪ a quick check of the

latest business flash headlines. coca-cola has announced an ambitious waste of strategy and to collect and recycle 100% of its global packaging by 2030. the company operates in more than 200 countries and areas and wants to recycle one bottle or can for everyone sold by the end of the next decade. we were also told that global trade deals are helpful and the u.s. should not disrupt them. >> i think it has been good for north america and all the countries in it. perfect,ot mean it is very few trade deals are perfect. can it be better? yes, i think they can make it better. but i don't think we should start deconstructing global trade. it has been a powerful engine for lifting all boats. ramy: john mcgrath will become interim executive chairman of the company he founded after big changes at the top. a loss group has flagged

--50,000 aussie dollar's end leaders willther be leaving. floating its funds management situation and financial advice operations. this comes from the australian financial review but the report does not say where it found the information. it's as an ipo is one of the options eating discussed for nab . that is it for "daybreak: australia." up next is "daybreak: asia." let's look at what is coming up in the next hours and week. in the conference, you imagine governor kuroda will be asked what happened to the bond failed earlier this month? guessing he might look for another job come april.

obviously they need to rethink the yield curve control policy at the moment. we will be asking experts some questions in the context of the boj. ramy: we will also be looking at what mark tinker thinks. equities for asian his company. he says asian equity is moment of -- momentum in value. we will ask him more about that. haidi: talking about the roller coaster ride of a coin and crypto, we are joined by david garrity, talking about the merits of blockchain voices -- versus bitcoin, we saw the biggest two-day performance for bitcoin in 2018 after it plunged below 10,000 for the first time this year. the roller coaster ride continues.

and if the regulatory crunch coming and the implications for crypto? that is it for "daybreak: australia." this is bloomberg. ♪

david: it is 7:00 a.m. in hong kong. welcome to "daybreak: asia." lawmakers at me on capitol hill in a bid to end the shutdown. a compromise vote could come in the next few hours. to impasse is unlikely derail bullish asia, the january jump is already larger than the 12 previous monthly gains. ramy: and from bloomberg's global headquarters, i am in new york where it is just past 6:00 p.m. on sunday. the standoff may hit president trump's davos plans. the white house will make a travel decision day by day. meanwhile, the