♪ haidi: u.s. stocks finish a listless session in the green with a series of central bank decisions. question your yields rose while the dollar gained and the euro fell. safe haven assets of gold and the yen edged lower. clear elsewhere, at&t is to take over time warner. the 80 $5 billion deal will create a multimedia powerhouse. >> and presided tmp

repeats his believe he can do a deal with kim jong-un. north korea said the pair exchanged some frank opinions. hello from city words just past 8:00 a.m.. this is "bloomberg: daybreak australia." here just past 6:00 p.m. in new york. good morning to you. taking a look at where the markets are, it's interesting to see the shift from what has already been a very busy week and we are only halfway through. we are now shifting into central-bank mode. can see some of the listlessness in the u.s. market close right there. the dow jumps a hair -- just a hair be old -- below the flatlined. not much of again, .2%. we did see a rally in the nasdaq, up .6%. on the whole, we're looking

ahead to what happens at the fed in washington. haidi: very much. you've got to wonder, if investors are concerned at allat of this week. bankfecta of central decisions were getting from the most influential central race in the world. take a look at the set up in asia, mixed hello when it comes to trading set to begin in this part of the world. we have the u.s. dollar surging the most in just over a week and the u.s. inflation numbers coming through much stronger than expected as well. expecting a bit of pain when it comes to the dollar strength, risk currency weakness going intohe end of the week. just a reminder, were not getting any trading in south korea this week. maybe they just needed a break after all the ehat summit earlier in the week. indonesian markets are also close for next republic holiday after they were closed for two

days. let's get to the first word news with jessica. jessica: apple has changed the rules of the app store. it's where developers harvest and share news. the move is a practice that sees - think market, share, or sell the information without permission from the people listed on the address book. sharing that it is what tripped up facebook earlier this year. may faceker zte new punishment after president trump through sharp criticism on capitol hill from dust for helping them arrive their business. includes maintaining buying american tech. last week the company agreed to pay a record find a check of its management to be allowed back in busine.

u.k. prime minister theresa may avoided a revolt by conservative. she dodged what could have been a major political crisis. that been pushing for an amendment to give parliament unprecedented powers over the government's brexit strategy. the prime minister offered a compromise. it's not yet clear what the deal includes. invented -- who invented brexit referred to th fastest-growing emerging economy. he said the group of seven is increasingly irrelevant as it excludes emerging powers but includes basket cases like italy. he concludes the g7 can no longer claim the legitimate see required to that's legitimacy. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries.

i'm jessica summers. this is bloomberg. very much.s that to the u.s. market close where stocks finished virtually unchanged, as investors wait for that confirmation of another fed rate hike. ,e also saw pink slips at tesla blues for bitcoin, and a green light for two companies in a megamerger. su keenan has more. i love this diversity of colors. we are in wait and see mode. we are at below average volume. everyone is looking ahead away from all these international meetings to what the head is owing to do, in the new has boj behind that. thdollar bouncing back,in treasury yields rising, and let's go into one of the big stories of the day which is tesla. if you look at the way they -- they're hiring has increased,

you can find this in the library of charts. a huge rise in the workforce with all the momentum that was going up. let's go into some of the market movers because tesla announced a 9% workforce cut and increase productivity, and up goes the stock. twitter also on a tear, as it's valued its advertising in a ch higher rate. ceos for twitter, google, and the social media universe being called to testify about anti-conservative bias. time warner and at&t trading water ahead of the big tuesday decision which was after the veil there -- after the bell. they got a green light to go ahead with the merger, time warner was up and at&t was down as much as 4%. at&t the acquirer, typically would decline on this type of multibillion-dollar move.

it took almost two years to get the green light that has now gone through. haidi: let's talk about the bitcoin blues, the cryptocurrency now at its lowest since february, down about 50% so far this year. what is the latest downward driver? grexit bitcoins skeptics can say i told you so, and let's go back to the bloomberg. what were going to see is the fact tt we've seen bitcoin , a bad here son far could be an understatement. these are all the berries cryptocurrencies, they have all come down in a big way from the beginning of the year. let's go right to some of the reasons, the scrutiny on these trading venues has only increased and it has increased worldwide. worldwide it fell as much as 4.6% in the last session alone.

it had been a record of almost 19,000. , thean see the extreme wild rise but the last two days it has fallen about $1000. that's a tough pill to swallow for bitcoin. back to you. haidi: quite a bit of momentum going there in the cello. ofkeenan with a wrapup market action. president trump has repeated his belief that he can do a deal with north korea, saying he is certain kim jong-un is on board. it's the most concrete development from the summit. steve engle is in singapore. this will send a shockwave through america's long military relationship with soul. steve: absolutely it will. by donaldhat was drop trump and the press conference,

the 75 minute long press conference, after the joint statement was signed by the two leaders. no mention of this possible suspension or cancellation of e wargames with south korea in the statement, but donald trump did mention it, and he said in the press conference, he talked about it with kim jong-un. it's quite significant and probably caught south korea off guard. the blue house saying they were looking at the ramifications of such a move. keep in mind there is an 32,000 u.s.0,000 -- soldiers in south korea. they have just completed a major humphreysdown at camp , 11 billion u.s. dollar expansion paid largely by the south koreans. with the capability of housing some 45,000 u.s. soldiers. this is a major move or concession him if you will, by the united states. that's what the north koreans

have long said, they want the u.s.-south korean wargames to stop. they found it to be provocative, an is a word that even donald trump used yesterday. the wargames are provocative, and the north koreans have long said this is a recursor for invasion, etc. there's another 50,000 u.s. soldiers in japan. japan must be also wondering what this move but donald trump, or at least displayed by donald trump, means for them and the states provides.that the united ramy: yesterday when we were trying to analyze everything that's happening, who wins the biggest? north korea or the united states? it turns outlly that it could be china. that freeze for freeze program, that they were trying to do, it turns out that basically we have come full circle.

>> i think china must be ecstatic after this summit. what did the north koreans give up? they got the legitimacy, and they got the u.s. president in that press conference to say that they are going to stop the war games on the border. this is what china wants. china once a de-escalation of tension. china does not necessarily want a nuclear power on their border, but they do not want u.s. soldiers as well on the border as well, or near the border in their region. ant the status quo on that, and they got that. they called it a new history, maybe a new future. steve engle, thank you very much from singapore with latest. joining us now from washington is thomas hubbard, chairman of the korea society and former u.s. ambassador to south korea. he was the principal negotiator of the 1994 agreed framework and he headed the first senior level

u.s. government delegation to north korea. ambassador, thank you joining us. let me get your topline reaction to what is been happening here. there have been a lot of critics who have been saying that donald ceded a lot and has not got much in return. say first it is a success for the united states and for the world. i think the agreements that we reached, the process that was set forth by that meeting will lead to an ongoing reduction of tensions and reduce the potential of war in the korean peninsula, which we all saw as a concrete danger just a few months ago. first and foremost, thinking can look ahead in the short to medium term and expect reduced tensions. however, the agreement itself was, to me, disappointing.

one of the lead negotiators of the framework was much more specific than this agreement in terms of the commitments made by the north koreans to abandon their nuclear programs. this is a very vague statement that is full of aspirations for a new relationship, talks about denuclearization, talks about security assurances in rather , but the details have yet to be filled in. i think the good news is that the two leaders support the process which will be led on the u.s. side by secretary of state pompeo to try to turn these aspirations into morte commitments. ramy: really, though, when you boil it down, what did the u.s. allies get? with the suspension of military drills, this is something that

really caught south korea and its government off guard. that was a surprise to me, too. most government experts that we should not trade are legitimate exercises with an ally for commitments from the north , ieans to denuclearization was surprised at that. i think it is a mtake to make such a move without consultation with our allies. we will have to see how that works out. president trump used is somewhat , i don't know whether he means all joint military exercises or just certain exercises that involve the movement of great deals of equipment. i think this is something that needs to be worked out and certainly requires consultation with south korea and with japan. i'm glad that pompeo has gone off to consult with our allies

immediately after the meeting in singapore. haidi: the president in his press conference was very defensive about this notion that he gave up everything to come to the table and he was very much in disagreement with that view. you look at the facts, it's a very vague statement, as you say. cbid,was no ion of essentially ducked any conversation about human rights. he agreed to some extent to secure north korean security and to remove the wargames. does the president come away from this summit looking pretty much like a dove when it comes to north korea policy? thomas: it is somewhat strange to see the u.s. president accepting commitments that are as they as the ones that are in this declaration. i know he has a vision of a better relationship with north to peace andg

security in northeast asia. so there is a vision there, but i would have looked for more specifics in the agreement and we did get more specifics in our earlier agreement. lower-levelour negotiators, beginning at a higher level with secretary pompeo to try to work out those details and get concrete commitments. haidi: how much domestic opposition do you think this will star for president trump? thomas: we are sort of in a strange situation in which the republican president is taking ,teps that look rather dovish very much like the kind of engagement that democrats arelly want, and democrats sort of saying wait a minute, you didn't get any commitments there. and his cheering squad i think among the republican base is basically saying, good work,

let's build on it. i think we ought to give this a chance, and i think most democrats and most experts are glad that this meeting took place. at thely as i said outset we're at a tter place now, talking about talks, then we work six months ago, talking about war. and makejust go on is sure we get the commitments we need going forward. 30y: quickly, in about seconds, i want to get your reaction to the north korean state-run broadcaster saying, reporting that donald trump has accepted their invitation to visit north korea. do you think this is a wise move on behalf of donald trump? especially was security considerations? thomas: i think he said he would visit pyongyang at an appropriate time. i don't expect an immediate

t, but at some point, i would expect the u.s. president to go there. an american president can count on in north korea is security. i went there with madeleine albright in the year 2000, set up her visit, and the last thing we worried about was security. what we worried about was getting the top of agreement that would make the visit successful. ramy: fair point there, thank you very much, thomas hubbard, chairman of the korea society and former u.s. ambassador u.s. ambassador to south korea. still ahead, plenty of space for bond traders. we will look at why markets are split on whether it is three or four hikes this year. atdi: an apple is limiting developers use of iphone data after recent outcries over privacy. this is bloomberg ♪. ♪

haidi: i'm haidi lun in sydney. ramy: you are watching "bloomberg: daybreak australia." at&t shares are slping in late at&t shares are slipping in late trade after a judge cleared and $85 billion takeover of time warner without conditions. at&t said the deal will fuel its evolution into a media powerhouse that can go head-to-head with the likes of netflix and amazon. ruling reallyy's mean for us? >> this is a stunning victory for at&t. this kind of embarrassing for the government, a really staked its case on the fact that the ,eal it said would rate prices but the judge today absolutely dismissed that saying that governments case wasm

are thin. a huge victory for at&t but an embarrassment for the government. it seems a lot of investors are excited because this could pave the way for other future deals. let's exactly. we are expecting the floodgates to open as early as tomorrow. you'll probably see comcast come out for his bid that disney as already agreed to buy. ifwill also mean that verizon or charter wanted to buy a content company, it would make it easier for them. then you have a couple of deals going health care sector through the regulatory process and you would think this would make it easier for those vertical deals as well. haidi: so what comes next? question or is a deal frenzy next. there's a question about whether the government appeals the decision. saying he'st chief going to think about before he does that. suffered aent has

stinging loss today. what happens with dealmaking in the future terms of how dealercal deals is gog to be the big question investors all want answered. march thenk you so that from new york. for breaking news wherever you are, we teamed up with to -- with twitter to launch tictoc, ofering live video coverage top news reports verified by us. make sure you're following tictoc on twitter. this is bloomberg. ♪

haidi: apple has quietly made changes to the apple store. the app store, i should harvest, use and share information. the comes in the wake of the basement data scandal.

with a report. i guess there's no time like the present for apple to be doing this. sarah: this has been a company that has made so much of its reputation about privacy and caring about users data. apple doesn't track you on your device way that google and facebook do. what they have done is facilitated an environment for developers where developers can grow their businesses off your data. when people share their contacts with the developer, i don't think people quite understand what that means. it's not just your phone number, but it's all the information you have ever stored in your address book about these people, including the thumbnail picture he might have for them, their home address. this is just a wealth of information that developers get. when you toggle to turn off access to contact for developers, that information does not get deleted. they still have it. rule in totting this

prevent developers from creating these databases is a first cap and it's going to be very difficult to enforce. we already have 10 years of developers working with this data. ramy: how are they going to enforce this? they will go through their regular at review process and this will be part of it. if a developer -- if it's found that they been storing and selling this information to third parties, then they could be banned on the app store. ramy: of course there are questions on whether this is related to the facebook privacy issue. a lot of people saying yes. sara, thank you very much. after the smiles as well as the hand-checks, the big question looking ahead is what will actually come out of the t rump-kim summit that owl eyes around the world were on over

the last 24 hours. will get the view of marcus noland, next. this is bloomberg. ♪

haidi: the markets open in sydney in just about 90 minutes. u.s. markets managed close in the green in a listless kind of session. there is listlessness going into the citi open here as well. ramy: it's 6:30 p.m. in new york and you're watching "bloomberg: daybreak australia." the first word news with jessica summers. jessica: president trump has repeated his belief that he could do a deal with north korea and says he is uncertain if kim jong-un is on board.

it's a most concrete development from the singapore summit. it has sent a shockwave through america's military relationship with soul. chancellor merkel is turning the tables on donald she said the trade surplus in europe or services are included. her comments are rebuffed to the president's criticism of german exports and she add the topic was discussed at last week's g7 summit with the president threatening tariffs on auto imports. that is hitting german automakers the hardest. quest trade surpluses today are still calculated in a pretty old-fashioned way, based only on goods. ift if you look at services, you include those in the trade balance, the u.s. has a big surplus with europe. to besia is said proposing that opec and its allies be allowed to return oil production to october 2016

levels. rolling back most of the cuts within three months. we are told the plan would see producers sharing an increase of 1.8 million barrels a day from next month. russia and saudi arabia have already suggested boosting output to stop prices going higher and hurting demand. bitcoins tumble to its lowest since february as the meltdown accelerates. it's renewed concern about its long-term viability as an alternative to traditional cash. the price bubble of $6,500 bringing a slide to the year of more than 50%. struggling,cies are with market manipulation and money laundering. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. haidi: thanks for that.

let's get more on what we should be watching is trading gets underway here in asia. a pretty muted reaction if any to theummit. are living on and looking at it to -- central banks now. marcus: it does seem like there is some level of disappointment and there was little that was concrete. it did not give any sort of boost even to korean assets, as far as we can tell. pi opening lower, and part of that because we had strong inflation data. archivea chart from the showing how u.s. inflation numbers are expected, but still the strongest in s years and right on the doorstep of a fed meeting where they are expected to raise rates. that's going to create a lot of fedehension as to what the

will do. in particular it creates apprehension for emerging markets. we had the indonesian central ,r saying please, slow down us. but there is little indication that they will. we have another try to look at, looking at how the emerging markets index is lagging behind the s&p 500. behind for it stayed years and years. marketst emerging should have been above that for at least some of the time, but it has not been. ramy: that title, so emerging markets as opposed to emerging markets. looking ahead to the fed meeting, what are fixed income markets looking for? garfield: there's uple of things. long, grinding concern has been, is the fed going to end up going to fast. now becausehere is plenty of

economic optimism, maybe it is distorted by what is going on at the fed balance sheet, but it's been getting flatter and flatter, as you can see. so that's going to be the will mr.how aggressive powell and his companions be regarding where they see rates going? are we going to get four hikes this year, or three? what are they going to do with the exodus rate on reserves, adjusted by 20 or 25 basis points? a lot of reprising's across the curve and some false readings. it's going to be a little bit difficult to help, but the key video is, are going to get four rate hikes or three in 2018. if it is for, in might be a much flatter curve.

>> as we know come the fed board is evenly's lit that wl change in abohours time. thank you very much. don't forget to check out our library for some of the charts you just saw their. prent trp has tweeted that he got along great with kim jong-un at their meeting in singapore. our next guest says concrete moves are now needed after joint statement that was short and they. they.rt and joining us is marcus noland he north korea's economy and was a senior economist at the council of economic advisers. marcus, thank you for joining us. plethora of different opinions out there, donald trump aying this was a comprehensive agreement, and south korea's national security adviser saying south korea seems to be a major

beneficiary. i understand that you think that basically this is meaningless. well, i don't think it's meaningless. because of the nature of the north korean political process, it had to start with a meeting up the leaders. that way the working level people in north korean government would be empowered to actually get on with negotiating. say you needong-un to get a republican state the goals they are working toward. good, and we have to reserve judgment. there were private meetings, we don't know what happened there. but this doesn't even reach the standards of pre-disagreements we've had with the north koreans. ramy: looking ahead, what really needs to happen next? you could outline the next few months or even through the end of the year. iscus: what needs to happen secretary of state pompeo and a

counterpart on the north korean side mitsui delegations and number working areas on things like ver dismantlement, and see how much progcan make. , it may be acemeal kind of action for action progress, in that they commit to and then wetion make a concession in return. it doesn't have to be a big deal at the same time but we actually calmer see were -- reaction moving forward. haidi: north korea has had a long history of reneging on its amendment and has not really had to commit to anything. complete, universal, and verifiable were not words that made it into the agreement that was signed. have they gotten what they need out of this, which is international legitimacy? the real risk is that

the maximum pressure campaign, which might have had something to do with bringing them to the bargaining table, is off. you cannot put that toothpaste back in the two. if were not able to make progress on a concrete agreement whether it be all at once or trumphe problem for the administration is they are not going to be able to apply economic pressure and that paradoxically will increase the likelihood of military action because they will have a lack of policy tools. so the upside is there now. we have a process going. it's good that they had the meeting and it did not blow now we have to get down to real negotiations over real things. ironically, we may be in a worse situation than we were before this. what do you suppose happens to be sanctions now? think sanctions in the legal sense will probably stay

on the books. it's hard to see china implementing them without any enthusiasm. i thinkhe pressure campaign is off. without the pressure campaign on the economics side, things go badly in terms of negotiation. ironically military options will be pushed higher on the agenda. haidi: thought it was interesting the way trump spoke u.s. military the the region. it ties in nicely with the argument that the u.s. is doing too much of the heavy lifting when it comes to military spending for their allies. marcus: absolutely. many people have been very upset by the apparent concession of suspending the joint military exercises with the south

koreans. that doesn't bother me so much because that is easily reversible. what is more bothersome is the fact that he described them as provocative and as wargames, basically north korean language. and use the argument that he used in his campaign that the united states is spending too much money. that is the kind of disturbing detail coming out of this that makes it relatively hard for people like me to remain optimistic, that really this is still pretty much on track. marcus, thank you so much for joining us. the executive vice president and director of studies there in washington, talking through the aftermath of that summit an agreement. up next, a fed rate hike might be a certainty but we ask an economist what to keep an eye on

for signals about the pace of future moves. this is bloomberg. ♪

haidi: ck infrastructure making ,n aussie $11 per share offer apa getting the takeover andosal indicative nonbinding. directors indicating they're willing to support the proposal. for is a $13 billion bid their strain pipeline company. it's understood this is subject to a number of other conditions, apa expected to give more information on that today. premium for the last close. clearly ck infrastructure assets.ng to pick up

in owns a number assets across australia, energy providers as well. let's shift to central banks now because the fed has launched the first of three important central bank policy meetings with the ecb and bank of japan coming up next. kathleen hays is here with the rundown. the on rate hikes, what are they debating? kathleen: have a lot on their list. let's start with the thing that matters most. hike is priced in the market. the big question is, what happens next? the expectations for future rate hikes, look at this chart with me and look over here, this is 2018. total, six dots, three hikes to. they are evenly split. what is going to determine this?

the fed conundrum is the fact that inflation is rising, unemployment is falling, and wages seem to be stuck in a range. let's take a look at this chart, unemployment versus wage growth. unemployment, the yellow line down 3.8%. is stuckourly earnings in a range, the most recent around 2.8. why is it not moving up? in light of this, people are saying one thing that could come out of the meeting is that fed will change its view of the natural rate of unemployment. the rate the economy can fall to without causing inflation may be lower than they think. sirl they might take a look at the neutral rate at which it is not going to hurt the economy and cause a recession or cause more in asia. that's a statement they can make.

they may jettison forward guidance. the wall street journal talking about adding more press conferences come one at every meeting. that would be changed. balance sheet reductions is complicated. it's technical, but it's a big deal going into this meeting. emerging markets traders and investors might disagree, but that's another issue that may be on the table. he will get asked about that at the press conference after the meeting. and more on emerging markets, the more industrialized nations, is it still relevant? kathleen: as long as we don't bring in china and india to the most important economies in the world, the g7 is not relevant, this is the man who back in 2001 talked about brazil, russia,

india and china, the important emerging markets. here is a quotehat caught everyone's attention. the group of seven is becoming increasingly irrelevant in a row of new emerging powers. an institution still including economic basket cases like italy cannot possibly claim the legitimacy were required to exercise global economic leadership. what jim suggests, in fact, is that china and india should replace a single delegation from the e.u.. excuse me, the three of them, will replace, in his view, canada, france, germany, and italy. it is interesting that a guy from the u.k. did not say that the u.k. should be included in that new delegation from the e.u. i think his point is well taken. if you look at the balance of economic power and wealth around the world, g7 seems a bit maybe

old-fashioned now. haidi: kathleen, thank you so much for that. let's take a closer look at this , let'he chief economist start off with fed expectations. do you expect much of a change or conversation to be had about that? >> i think it will stay similar to what it has been. what i'm looking for our changes to the forecast. they are going to release the forecast for inflation, gdp, unemployment, and would not be surprised to see a slight uptick in the gdp forecast. , that was it was 2.7% the median, and i expect that to move up to 2.8 or 2.9. haidi: what about the conversation as to when we get to neutral range? >> this is an interesting question. i think it is coming in 2019,

toward the end of the year. now i think the fed hast of a risk in front of it. i'm not sure that the market is quite there yet. there is a risk that wasn't there a ye ago that the fed into being the curve. the u.s. economy is running red hot and while we are not necessarily seen it in the pc inflation, we saw that core cpi at 2.2, perfectly reasonable. but headline creeping up at 2.8. should beget wage inflation here, i think it is possible we could have conveions to start to discuss if the fed is on the curve and does that mean that they need to raise a little faster than they have been to assuage the market from that perception. be a there appears to growing concern, not just about inflation, but the pace of inflation here. i want to show you guys this

the average leveling off, ur own concern, what do investors need to be aware of as we go into tomorrow and possibly another hike later on this year? >> the one thing to look at, and the reason i think this case is important, it takes out some of noise we saw last year things like cell phone prices that would be in the core cpi. starts to accelerate, that's going to concern the fed. remember they look at the pce and they said over and over that they want symmetry. what symmetry means is that they will tolerate and inflation rate above their target for a period of time. ramy: i'm curious about how long they can tolerate that. people say they can overshoot, but for how long?

constants: if her overshooting on inflation, they're going to be able to overshoot longer. if are not seeing the pace picked up, the year-over-year rate that is higher, they are not going to worry. also seeing the near-term pace pick up and that will be more of a concern. you cannot just look at the inflation rate in isolation. report on adding more press conferences, how much of a game changer is it if from now on every meeting is live? >> in the sense that having a press conference, the ecb has press conferences every meeting, it is not changed the ecb. at the concern the fed months are to have should they need to go more frequently is that the market would become surprised that they were going to move at a certain meeting. the other thing is that the fed

has been moving towards greater and greater transparency, certainly having a press conference with every meeting would continue that path to greater transparency. we appreciate your time, constance hunter there in new york. join us tomorrow, will be dissecting that fed decision. bill gross will be on the show and the former fed vice chairman, that's at 4:00 a.m. sydney time for you early birds out there. this is bloomberg. ♪

ramy: remember, bloomberg users can interact with the charts , you can browse recent charts featured and catch up on key analysis and you can say those charts for your future reference. check out our chart library.

haidi: that's almost did for me here on "bloomberg: daybreak australia." next couple of hours of daybreak asia, they are taking a look at dissecting the outcome from this historic summit. >> as we wrap up our special coverage here in singapore, what comes next? to the former u.s. ambassador to singapore and undersecretary of commerce for international trade. he says he's cautiously optimistic in terms of the optics and personal relationship .etween donald trump and kim he remained skeptical about that vagueness of this joint communiqué. and what it means when it comes to the trade relationship the u.s. has with this part of the world. does and that skepticism

continue into the hong kong hour with our guest, shawn king. he says he is underwhelmed after what happened in singapore over the past 24 hours. we will talk about where this goes in terms of possible the lines ties along of suspension of those military drills which was in i razor for many men about how donald trump has adopted rhetoric that has been used by north korea and china. that's coming up in about an hour and 10 minutes time. haidi: we have one guest coming , het 8:30 hong kong time says that she called donald trump a magician and two years ago you could not see him being elected. within those two years, turning around and meeting with the north korean leader. even if donald trump has to share it with the other regional

leaders. a very colorful point being made their. will continue talking about the aftermath of the summit. that is it for "bloomberg: daybreak australia." this is bloomberg. ♪

>> is 7:00 a.m. here in singapore. i'm yvonne man, welcome to daybreak asia. asia pacific markets face a mute start after a listless session in new york. investors switch from the summit to central-bank decisions. ten-year yields rose and the euro well. gold and the yen are edging lower. ramy: i am ramy inocencio. at&t is to take over time warner. this will create a powerhouse to