once again thank you, mr. president, for $45 billion, because this is a big assistance and i hope the congress will approve this financial assistance for our country. this is almost $45 billion. thank you very much for the support. every dollar of this investment for the united states is going to be strengthening of global security. i know that the american leadership will be strong and will play an important role in the the global scope and the united states will help us to defend our values, values, and independence. regardless of changes in the congress, i believe that there will be bipartisan and bicameral support, and i know that everybody works for this, and of course during all of my meetings today, we discussed issues of

standoff against terror of russia, their destruction of our energy infrastructure. we need to survive this winter. we need to protect our people. we need to be very specific in this area. this is a key humanitarian issue for us right now. this is the survival issue. we are discussing sanctions and legal pressure on the terrorist country of russia. russia needs to be hold held accountable for everything it does against us, our people, europe, and the free world, and it is very important that we have peace formula, and for that we offer very specific steps what america can do to help us to implement them. we propose global formula for peace summit. i am in full for american counterparts that they feel us

and understand how important it is to continue and stay on course and work on integrity of the country and international rule of law. we will also meet as soon our defense capabilities will be strengthened in the next few months. i do not want to discuss it in details right now. i believe you understand why, but i am very grateful to president biden. thank you for your attention to all of these issues. glory to ukraine! president biden thank you very much, mr. president. we will start with alex from yahoo! news. journalist: thank you, mr. president. you presided over a bipartisan international coalition to support ukraine in 2022. how will you keep that coalition from fraying in 2023.

in president zelenskyy, welcome to washington on this beautiful winter day. what is your message to the american people? pres. biden: to answer your question first. i'm not at all worried about holding the alliance together, nato, the eu, as well as other nations. i assume this simultaneous. all right. ok. i have never seen nato or the eu more united about anything at all and i see no sign of any change. we all know what is stake here. our european partners all the more so. they fully understand it. this is about, we have never seen a major invasion of european country since world war ii, and they see no signs that putin is going to do anything to change that unless we resist and

help the ukrainians resist. we all know what is at stake, the very idea of sovereignty, the united nations charter. putin thought he would weaken nato, but instead strengthen nato. i once said that he wanted to see, you know, europe end up being divided and instead what did he do? he produced a more united europe with sweden and finland joining the so i do not see any reason to believe there will be any lessening of support, and as we reach out to our nato allies, secretary of defense, secretary of state, we get continued support, not only their number but from around the world, japan and many other countries as well, so i feel good about the solitary and support for ukraine. pres. volodymyr zelenskyy: thank you for your question. you asked me about -- i think i

would tell you very simple things which are important for me. and i think so we have the same values in the same understanding , the sense of it. my message. i wish you peace. i think that is the main thing, and you understand only when the war is in your country, when somebody like these terrorists from russia come to your houses. and i wish you to see your children alive and adults. and i wish you to see your children when they will go to universities and to see their children. i think this is the main thing what i can wish you, and of course to be together with us, because we really fight for outcome and victory against this

tyranny. that is real life, and we will win, and i really want us to win together. thank you so much. not want, i am sure. [laughter] pres. biden: do you want to call on a member of your press? pres. volodymyr zelenskyy: yes. journalist: i got a question to both of you, but firstly as ukrainian, and i mean it, i want to thank the united states for supporting my country. my family is in ukraine and i understand they would not be alive if the united states did not do this, so thank you. and my question, as we enter a new phase of this war, and you discussed today which path to

choose, how the war could come to an end and what is next, a new counteroffensive or peace talks. so good you share your vision, what is the fair way to end this war and how do you understand this war and peace. thank you. pres. volodymyr zelenskyy: my view? pres. biden: your guide. [laughter] -- a guy. although i like him very much already. [laughter] pres. volodymyr zelenskyy: started this question -- i am sorry, sometimes i switch on my native language. translator: you started by stating that your family is in kyiv and without the assistance of the united states, this is absolutely true. the u.s. leadership in the

system is strong and again i would like to remind you that your family will be danger without the armed forces of ukraine, which is very important. that concerns your questions per se, what would you like to hear? just peace? i don't know. i don't know what just peace is. it is a very philosophical description. if there is a just war, i don't know. well, for all of us, peace, just peace, as a president, just peace is no compromises as to the sovereignty, freedom, integrity of my territory, my

country. the payback for all these damages inflicted by russian aggression. i i am sorry, i'm talking about children a lot today but as a father i would like to emphasize, you know, how many, how many parents lost their sons and daughters on the front lines, so what is just peace for them? it is nothing and no compensations or reparations of no consequence? they live by revenge. i think this is a tremendous tragedy and the longer the war lasts, the longer this aggression lasts will be more parents who live for the sake of

vengeance or revenge, and i know a lot of people like that, so there cannot be any just peace in the war that was imposed on us by these, i do not know how to describe that, because we are in the white house, cannot find the proper language, so these in humans, i would say. pres. biden: let me respond. i think we share the exact same vision that a free independent and prosperous ukraine is the vision. we both want this war to end. we want it to end. as i said, it could end today if putin had any dignity at all and did the right thing. and just said pull out, but that will not happen not going to happen, not going to happen now, so what comes next? what we talked about today is we

will help ukraine succeed on the battlefield. it can succeed on the battlefield with our help in the help of our european allies and others, so that if and when president zelenskyy is ready to talk with the russians, he will be able to succeed as well, because he will have won on the battlefield. and you know, i don't think we should underestimate the impact this war is having on russia and the losses they are suffering, and you saw, i think it was two days ago, putin saying this is much tougher than he thought. he thought he could break nato, the west, the alliance, but he was wrong, wrong, and wrong, and continues to be wrong. the sooner he makes clear he cannot possibly win this war, that is when we have to put this president in a position to

decide how he wants the war to end. my turn, huh? pres. volodymyr zelenskyy: yeah. pres. biden: phil mattingly of cnn. journalist: thank you, mr. president. mr. president, your advisors talk about how critically you view face-to-face interaction. i wonder after spending two plus hours with president zelenskyy what you learned and what you took from the meeting that you couldn't learn in the phone calls and other conferences? was there any discussion related to the fact that russians would take escalatory action now that the patriot batteries being delivered. pres. biden: you know i get kitted pursing all politics is personal -- kidded about all

politics is personal. i don't think there is any substitute for sitting down face-to-face with a friend or foe and booking him in the eye, and that is exactly what is happening at this point. we have done that more than once and we will continue to do that. winter is setting in an putin is increasingly going after civilian targets, women and children, orphanages. this guy is, well, but he is going to fail, and he will fail and he has already failed, because he now knows that there is no way he will ever occupy all of ukraine, there is no way in which he will be accepted by the ukrainian people, and so he has failed in the past, and it is very important for him and everyone else to see the president zelenskyy and i are united, two countries together, to make sure he cannot succeed. i may be mistaken, but i know i

judge every leader by the way, what they say to me, their consistency, and looking me in the eye, this guy, his soul is who he says he is pure he is willing to give his life for his country, and all the folks who came with him today, so i think it is important for him to know that we would do everything in our power to see that he succeeds. pres. volodymyr zelenskyy: thanks. pres. biden: what was the second part of your question? journalist: has the u.s. calculated the escalatory effect of sending a patriot missile battery to ukraine? pres. biden: i did not discuss that with the president. this is a defensive weapon system. it is not escalatory. it is defensive. it is easy to not move would love to not have them use it. just stop the attacks. journalist: again, welcome, you

mentioned earlier that you wanted to make this trip for a while now. why now? also, can you tell me what you think the message you are sending to president putin's, given that you were on the ground on the front lines 24 hours ago with artillery behind you and now you stand next to the u.s. president? pres. volodymyr zelenskyy: translator: thank you for your question as to -- question. as to what is the message for putin? i am standing here in the united states with president biden on the same podium because i respect him as a person, as a president, as a human being for his position. and for me, this is a historic moment.

i can send messages to president biden. for example, if it is not serious, you said what will happen after the patriots are installed? after that, we will send another signaled to president biden that we would like to get more patriots. [laughter] we are in war. i am sorry. i am sorry. that is my appreciation. [laughter] translator: mr. president putin, and 2019, we had a normandie meeting. in 2019, i became president of ukraine and at the time we were sending maximum messages to president putin, telling him that there should not be a full-scale invasion to stop aggression to renew our territory -- territorial integrity and find a diplomatic solution.

god forbid we should not have a full-scale war. at that time he said, it will not happen. he was lying. so what kind of message can die send him after he actually -- can i send him after he is destroying our lives? he can even go further. they were a soviet union state before this so he might want to invade those territories too. i believe there is something mortal about his inadequate approach to the war. why we need to send him a message? he needs to be interested in getting attention from the world , because he is not a subject of civilized people. he should be interested in trying to save something of his culture and history of his country, so that is his problem now.

pres. volodymyr zelenskyy: translator: this will be the last question. journalist: when the full-scale invasion started, u.s. officials said ukraine cannot receive patriots, because as you said it might be unnecessary escalation, and now it is happening right now today is happening, and now ukraine desperately needs more capabilities, including long-range missiles. maybe i sound naïve, but can we make a long story short and give ukraine all capabilities it needs and liberate all territories sooner rather than later? thank you. pres. biden: his answer is yes. [laughter] pres. volodymyr zelenskyy: i

agree. [laughter] pres. biden: let me be straightforward with you here. look, the fact is that it is important to remember that before russia invaded we dedicated and anonymous -- an enormous amount of security assistance for ukraine and we have given ukraine what they needed when they needed it to defend themselves. and since the invasion, that has resulted in more than $20 billion in terms of security assistance. just today, i approved another one point $8 billion in additional assistance to ukraine for it to succeed on the battlefield, and we are focused on working with allies and partners to generate capability and -- in four key areas, defense, as we noted today, the patriot is best at that, and secondly, i am looking to do more.

we provided hundreds of advanced artillery systems and dozens -- from dozens of countries. thirdly, we have worked with partners to get ukraine tanks and other armored vehicles. and fourthly, we have announced today another 200,000 rounds of additional ammunition. you say why don't we just give ukraine everything there is to give? two reasons. one, there is an entire alliance that is critical to state with ukraine and the idea that we would give ukraine material that is funnily different than is going there would have the prospect of breaking up nato and the european union and the rest of the world. we will give ukraine what it needs to be able to defend itself, to succeed, and to succeed on the battlefield, and the other piece of this is you might recall the one of the reasons why i have spent, i will not tell you the calculation, but i have spent several hundred hours face-to-face with our

european allies and heads of states of those countries in making the case as to why it is overwhelmingly in their interest that they continue to support ukraine. they understand it fully, but they're not looking to go to war with russia. they are not looking for a third world war, and i think it can be avoided by making sure ukraine is able to succeed on the battlefield, so anyway, there is more to say, but i feel we have already said too much. thank you. well, thank you all very, very much. i appreciate your time and attention, and as i said, mr. president, you do not have to worry. we are staying with ukraine as long as ukraine is there. thank you all. pres. volodymyr zelenskyy: thank you so much. >> ladies and gentlemen, please remain in your seats until the official delegations have departed.

>> you have been watching a joint press conference between president zelenskyy and president biden. this is the first trip of president zelenskyy overseas since the invasion by russia 300 days ago. president zelenskyy thinking the american people and hoping congress will approve the 40 $5 billion in additional military aid. president biden saying that the u.s. will give ukraine what it needs and the patriot missile system is defensive and not escalatory. welcome. let's get a breakdown of today. josh, it is interesting to see this press conference in the very candid atmosphere, warmth, andainection between the two presidents, even president biden wearing a tie, blue and yellow, reflecting ukraine's flag. how much is at stake for president zelenskyy as he comes to the u.s. and addresses congress as well? >> thank you for having me. everything is at stake.

ukraine cannot afford to have the u.s. drift to the sideline in this conflict and stop providing not only money, but arms come so a pivotal moment as congress considers that omnibus funding bill that includes $45 billion, if it passes. the question is whether this will be the last ever for a while as republicans losing appetite to fund this war. a couple of takeaways from the press conference, the announcement is expected the patriot battery system. this will take time. they are complex. they will have to train ukrainians how to use it. immediately they will ask president zelenskyy for another second, third, another what have you more patriots, president biden shrugging that off. we got to the crux of the matter in the last question, saying,

look, you have been slowly escalating stuff you're sending. so if you would not have thought you would be sending in february you are now sending come so why can't you skip ahead and start sending the stuff ukraine wants, including long-range attack missiles to help the counteroffensive, but things the u.s. feels would be to escalatory. president biden saying it could break up nato, the alliance, the unanimity amongst countries. we cannot go too fast and up in the apple card. that gets to the crux of it. two-fold. number one, will the u.s. news appetite to help ukraine? right now it is clear if this omnibus bill passes, there will be money. it might not get renewed, but they will have runway. number two, the type of equipment the u.s. is willing to send and how far with the u.s. go supporting a counteroffensive, particularly as they and to what had been the

ukrainian border a year ago, and eight years ago? these are the questions hanging in the air, but the topline question is president biden saying the u.s. will be there in one form or another. not wanting to show daylight, even with those thorny questions such as which missile system or weapon system might be a bridge too far. >> domestic support will be key. what do we expect from the addressing congress, given that you have alluded to some republican skeptical of support or outright oppose it. >> it is a funny one. there are probably votes in the house, but the question is whether hard-line conservatives will be pressuring the republican speaker of the house. we expect kevin mccarthy to give him no wiggle room to let that happen, so i think you will see

a message tonight from president zelenskyy, which you heard, that he is confident there will be bipartisan, bicameral support for ukrainian aid. he's probably right that the votes are there, but the question is whether any republican speaker will let those votes happen. that is why use also much momentum to put $45 billion in this omnibus funding bill before they get to these crossroads where maybe or maybe not they can get this funding through. it is tricky. many of us are old enough to remember when republicans unanimously or nearly unanimously rallied around the idea of fighting russia, and that's why providing ukraine funding and military aid is for, but these things are shifting and have been shifting for a while in the republican party, the right flank of it, doesn't, many of them, or a number of high-profile ones do not think this is america's problem or

obligation financially. >> there was a question during this earlier, what a peace plan looks like. what is the eventual end goal when you have president putin coming out, doubling down saying that russia has no limitation on military spending. >> i will rely on our dear friends, colleagues in europe who say president zelenskyy's answer was one he had given before. he did not make news, i am told, but i am not bloomberg's expert on zelinski -- president zelenskyy, but he does push back on this notion of just peace. president biden said prison zelinski is the one who's willing to have a serious conversation about what a peace plan looks like an president biden is saying putin is not willing to have that conversation, so it jumped out the president biden used the phrase just peace, and president zelenskyy mused about what it could be. in his view, he said there is not much chance of it, that there is a sign of tension there

a little bit and it is not giving the impression the peace talks are around the corner. >> we will have special coverage ahead later on the ukrainian president's address to the u.s. congress coming up at 7:30 p.m. eastern time, 8:30 a.m. if you are watching in hong kong. you can turn to bloomberg for more analysis for commentary from a team of expert editors. much more to come here on daybreak. this is bloomberg. ♪

>> we continue to watch the fed and central banks. our next guest says it is a credibility game with difficult choices for the fed in 2023. great to have you with us. the path is difficult, not just the fed, but other major central banks, including the boj. what are you watching next year and how might the psychology set up given that hawkish downshift?

>> just in terms of psychology, it seems we have a lot of buy the dip mentality, equities largely are expecting inflation to get down to 2% year sometime, that the fed has made clear the labor market is not balanced and very tight, so we will have to see weakness in the labor market and core services inflation down anywhere near the target, so we will see inflation come down to 5% quicker than many might expect, but to get from 5% to 2% is a big task. >> how do you position around that landscape? >> yeah. >> we have fund managers who are comfortable sitting on 50% cash. >> we are quite neutral on equities. we have started to add it back in. i think the story of the first

half of the year will be recession and long bonds will perform well in that environment. but you have to watch out for is inflation volatility so if it comes down and there are signs it will become more volatile [indiscernible] if the cute curve control -- yield curve control stop [indiscernible] but we think long bonds of better place. we think we will ultimately add to risk at some time, affecting the central bank pitted, where things like the official cash rate -- >> we have a problem with your microphone. as we get that fixed, let's look at markets at the moment. we have seen a lot of volatility , even that surprise on the tweak and the yield curve

control. look at the japanese yen that level. the aussie dollar also at that level. we continue to watch volatility in the market. we have seen the korean won the highest since june come of the japanese yen falling after a huge rally we saw with the biggest since 1998 on that boj move. right now we are seeing not a lot of movement at this point, but let's get back to nick now that we have your microphone fixed. you mentioned potential moves in the bond market. we have seen what perhaps could be interpreted as a hawkish tilt from the boj. will that pressure the u.s. dollar and what does that mean for the earnings outlook? >> yeah, it is very interesting. initially after the peg of the 10 year jgb yield, you saw it

fall and then caught a bid. we are looking for signs of that repatriation of money home to japan, because we know japan is one of the largest buyers of u.s. treasuries and one of the largest buyers of australian bonds, so if that was to change, that could add to the increase in term premiums for bond, but for now, i think it will be orderly. part of that is the japanese yen , so if the japanese yen was to rise aggressively with the hedging costs for foreign investments actually comes down so that would offset some of the forces about the japanese market being more investable in a higher jgb yield backdrop. one other thing, another thing to watch for later is the yen as a funding currency seems to get a bid in terms of geopolitical

flareups. when you have a negative correlations between shares and bonds it is at its most, so we will have to see how inflation is next year to see how that all dynamic with what is happening in japan in global markets -- affects global markets. that is on the earnings front. we are sanguine about how the market is expecting forward earnings. one of the things we are looking at to add to risk is when those forward earning estimates come down, and when they start to come down, when they start to fall less aggressively with that is a country in pivot point to add to risk. >> what has been interesting in today's market is the optimism around the consumer, whether it is better than expected earnings from nike, fedex, or consumer confidence rising to levels we have not seen in months. how healthy is the consumer in the u.s., and are there other parts of the world where you would build on the consumer as

well? >> yeah, yeah, really good question, so there is a dislocation between sentiment readings and how robust the consumer spending and household spending has been, so i think next year we clearly have to watch what happens with spending. i think those covid savings have been largely drawn down and monetary policy has a lag defect , and that is fitting for the u.s., very relevant for australia, where we have a strong transmission for higher interest rates in the consumer most about mortgages unlike the united states, a floating rate, so again, that's probably why the rba is at peak rates now or perhaps one more in queue one year. >> great to have you with us.

well, presidential asian paying has exchange congratulatory messages with australia on the 50th anniversary of the establishment of diplomatic relations. he was reported to have said a healthy and stable relationship is in the best interest of both nations. joining us now is the executive director for the center of china analysis at asia society. great to have you with us as always. we had a guess a sort of summary you would expect from the minister following that meeting. do you read this in the same way we see between the u.s. and china, essentially this effort for our rivalry, a set of guardrails to be established, but what could potentially still be a difficult relationship? >> i think we could liken his visit to put we saw between and

the summit between president xi jinping and president biden, the presidents agreeing to put in motion a robust, regularized set of discussions on a range of key issues that both sides are concerned about. that is a positive step in the biggest take away, that now, we are back to a somewhat more normal structure for the two sides to restart or commence discussions with one another on the issues that divide them, and that is a big step forward. >> one of the major existential issues is australia's alliance with the u.s., right, and the fact that there has been a sense of being a punching bag by proxy. do you see that dynamic improving as we continue to get the dialogue over the past several years?

>> the fact that u.s.-australia relations, the closeness, the relationship will always be a matter of concern to china and a thorn in the side of china, and i think they understand there is not a lot they can really do. in fact, the more they tried to drive a wedge in between the relations, the worse it turns out for beijing, so it is a relationship that has to be folded in with all the rest of the conversations because it is unlikely australia will waiver far from the relationship. hopefully beijing has come to terms with that better. the foreign minister has been invited to china to really initiate the strategic dialogue on foreign affairs between the two sides. it seems to me at least a small chance that they are prepared to get things back on the right track. >> so why now?

when we were thinking about potential reset for the relationship, we were booking -- looking back in may when the new government was elected? >> yeah, but i think this is consistent with what were seeing china, beijing doing with the number of bilateral relationships. what was important between june and november or so was the 20th party congress go off without a hitch, that xi jinping be reappointed to this next five-year term as the head of the chinese communist party. with that behind him now and with the season opening up again in asia in november, we see a charm offensive on china's part, an effort to rebuild relationships that have been derailed order degraded over the past two or three years, not just australia, but the u.s., and europe, so i think this is

part of that larger effort on beijing's part to try to get some damaged relationships mended and back on a better path. >> the low hanging fruit it could pick now going forward into 2023, because we still have tariffs on australian goods that have been so hurtful. >> yes, no doubt that was a significant element of the conversation i suppose behind closed doors between the foreign minister wong, but i suspect beijing was not prepared to make any high-profile announcement during the foreign minister's visit to beijing. it could be that behind those closed doors some understandings were reached, that with time, in early 2023, some of these punitive measures on the economic front will be lifted, and i suspect they will, and as you say, it is relatively low

hanging fruit. it is a political decision at this point on beijing's part, and i would think in the wake of the 50th anniversary and the restarting of a more normal conversation between the two countries that that sort of stuff can be taken relatively soon. >> thank you very much for your time. coming up, ftx co-founder sam bankman-fried is about to be flown back to the u.s. after agreeing to be extradited. a live update from the bahamas just ahead. this is bloomberg. ♪ if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more.

>> china's central bank talking of support and pledges of new action. kathleen hays is here with the details. this comes after a meeting chaired by the pboc governor. >> what a tough couple of years for the property sector, so what a great way to end 2022, with a government letting us know what they are going to be today and yes, this came from an announcement from the pboc, the governor chairing a meeting this afternoon, and here is what they

say they would do. they will give support to property sector restructuring. this is so important. there are so many companies in depth on the verge of bankruptcy may be -- dept. and they will help developers improve. they will make sure they help to meet reasonable financing needs. that is too important. you may not get the help, but if you have a chance they will extend you a life raft and implement credential monetary policy, a broader pledge, but significantly they are going to do whatever they can with their monetary policy tools to make sure support is there. this comes after just last week was the vice premier was at a meeting where he talked about the importance of the support

for the economy broadly, calling the property sector a pillar of the economy, another strong sign the government realized they have to help the sector. they cannot just force or sake you must increase your financial conditions to your financial ability to survive without help from us. it looks like that is what they are now extending concrete. >> in the meantime, we are watching the great review from the bank of indonesia, expected to downshift to a 25 basis point hike at today's meeting. one more exception, even as they see inflation coming down. >> well, yes, because they have done 350 base hikes -- three 50 basis point hikes. the reason they are expected to downshift to 25 basis points as you look at our chart is they have had a steep move up, the

blue lined at the end, and they are getting close because inflation they just had a report yesterday from the bank of indonesia would said inflation has peaked at 5.42%, the headline number. excuse me, the target range is 2% to 4%, so it is moving in the right direction, and the governor of the bi said inflation is heading towards its goal. on the other hand, and this is the exception i was referring to our bloomberg economics team think they will do another 50 basis point hike, because inflation remains too high and that is that reason to maintain the aggressive stance, and also the rupiah has been weak, another reason to go for the 50 basis point rate hike. we've had a lot of volatility around the yen, dollar, and perhaps that's another reason to maintain that prudent more aggressive hike, but again, i'd love it when people go out on

the limb and put the courage of their economic convictions behind their forecasts, so hats off to our team in asia. we will see what happens. >> kathleen hays with the outlook for central banks and the great decisions. let's bring in an analyst, morgan stanley saying investors are getting involved on the fed. >> that's right. morgan stanley warning on the outlook. officials are telling us they will raise rates above that level next year, but traders are pricing in something lower than that in morgan stanley says this is the big risk for stocks. we actually had an interview with the bank's chief income strategist, and he told us that he believes the hiking cycle is not sufficiently priced in and it would be wise to listen to what central bankers are saying on the outlook for inflation, but if you look at this terminal chart, we can see what else is

coming through for 2023, and this is from the chief equity strategist for morgan stanley, mike wilson, warning about the outlook for corporate profits because this chart looks at the s&p 500 versus the projected earnings per share, and it does show perhaps that stocks are not reflecting the outlook for corporate profits, and they could really be damaged next year as we see pressure voting on margins, more weakness as well, and that slump and earnings morgan stanley says could match what we saw during the 2008 financial crisis. >> what other warnings are coming through with the warnings for equities? >> a lot of investors think the stresses we saw in markets and 2022 basically are not going away as we approach 20 23, so basically that doesn't mean we could see further losses for stocks in 2023. as we spoke about the earnings risk, but also the outlook for inflation, that could be sticky on the way down with recession risks present from central bank

tightening, so a cautious outlook basically. take a look at this terminal chart. we have seen that reflected in u.s. stocks outlook in the given that we're seeing the s&p 500 closed at the 200 day moving average, but it is seen as an indicator of the continuation of a trend in we can see it has bounced off that, so that bearish trend does remain intact. >> in the meantime, let's get the latest on ftx. sam bankman-fried has been cleared for extradition to face charges in the u.s.. we have more now from our journalist in the bahamas. we are hearing that he will be on his way by wednesday evening. >> we can confirm he will leave the bahamas tonight, from a statement issued by the attorney general, and final documentations have been signed.

i am outside the odyssey aviation airport in nassau is preparations are being made in they are boosting security at the entrance of the airport. there are local press teams hoping to catch him arriving in the next couple of hours in the coming at the end of a very long day, perhaps today was the longest route of the hearings he has had in the bahamas thus far, but it was the most important and he declared he formally seeks to be extradited, and the official paperwork was signed allowing that and the judge agreed to it. >> what happens here in the u.s.? >> he is facing a number of counts, but authorities in the bahamas saying they will continue to probe the activities of the company around withdrawals that took place, as well as the values of assets

owned by ftx and a group of companies not regulated by the securities commission here. they are really scrutinizing those properties and make creditors and customers whole with as much of the funds that were lost. >> plenty more to come. this is bloomberg. ♪

>> a quick check of the business flash headlines. elon musk says twitter was on course to bilion dollars of negative cash flow before he stepped in and dismissed staff. he said he'd spent the last five days cutting costs like crazy. his $44 billion deal was partially financed with owns most -- almost 13 b in dollars of debt. micron will cut headcount by 10% in the coming year as it projects are wider than expected loss in the quarter ending in february. the memory chip maker is projecting a loss in the quarter.

indonesia will ban exports from the middle of next year of bauxite. indonesia is the world's sixth largest producer and holds the fifth biggest reserves. present? would dodo says it will boost the welfare of the people of indonesia. >> we will have special coverage later that the ukrainian president's address to the u.s. congress, coming up at 7:30 p.m. eastern, 8:30 a.m. hong kong. that is it for daybreak australia. daybreak: asia is next. this is bloomberg. ♪

as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. it's official, america. xfinity mobile is the fastest mobile service.

and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. get in on the savings and switch today.

>> you're wat