>> a very good morning and welcome to "bloomberg daybreak: australia."

we are counting down to asia's major market opens. shery: the top stories. the yen slides on news that the boj governor may have been tapped to become the central banks next chief. haidi: beijing threatens retaliation as the u.s. blasted a chinese high-tech balloon out of the sky. shery: the terminal surrounding adani's empire enters its third week. this was the close on wall street on the friday session. on a weekly basis we ended higher. we are talking about the highest levels since august. it was not nervous about where the fed will go from here especially as they may have to stay with rates higher longer. that is what hit market sentiment. we are talking about employers hiring more than 500,000 people.

we are talking about the unemployment rate falling to the lowest level since may 1969 which took treasury yields for a ride. we continue to see pressure on oil prices. around 73 u.s. dollars a barrel. and we are watching the eu ban when it comes to imports, we are hearing more caution coming from the saudi energy minister as well. haidi: and we are watching the geopolitical situation as we saw tensions rising with beijing threatening retaliation as the u.s. shot down an alleged chinese surveillance balloon on saturday. secretary of state antony blinken postponed his visit to china calling the incident in aerospace violation. >> any country that has its airspace violated in this way would respond similarly. i can only imagine what the reaction would be in china if

they were on the other end. haidi: let's bring in tony. we had heard leading up to this that it was too dangerous to shoot down the balloon. how has this escalated the situation? >> the from beijing swung from initially expressing regret while saying this was a civilian balloon all the time to threatening retaliation against the u.s., on specified measures that china reserves the right to take in response to this globally televised image of its balloon being shot down by a u.s. fighter jet. all in all that adds up to more attention over the last 24 hours in the u.s.-china relations at a

time when, as you mentioned, secretary blinken's trip to beijing may have been a signal that things were getting back a more even keel. shery: what an awkwardly timed incident and the global images and what it does to the american psyche and the international psyche about china's potential surveillance. where do relations go from here? >> as some of my colleagues wrote in one article on the saga, from the u.s. point of view, it could actually be a plus if you like because it focuses attention in the u.s. on the encroachment by china and

also the challenge from china. there has been a lot of bipartisan outrage in washington especially about the fact that the balloon flew across the entire united states including areas where there are intercontinental ballistic missiles. for biden this is not an absolute negative though republicans have pilloried him for not shooting the balloon down immediately once it was detected. haidi: the optics literally end in terms of the diplomatic issues are so wide-ranging. we continue to watch to see reaction as we get the asian market trading day underway. this is how we are setting up when it comes to markets. take a look at australian

futures. .2% higher, rise for a fourth straight session suggesting -- the unexpectedly optimistic jobs report -- we are also expecting the central bank and australia all but certain to raise rates at the first meeting of the year this week set to push rates to a 10 year high as inflation continues to spiral. we are watching a jump of about 1% on the speculation over the leadership race. shery: very interesting given we also had strength of the u.s. dollar but let's delve into the race because the wait to see that kuroda may be coming to the end. a deputy governor has been approached by japan's government

by taking the job. kathleen hays is here with the latest and we are hearing from the finance minister that he has not heard anything on the boj nomination as of yet but how significant is this report? >> it underscores the expectation that he will get the job. he has long been the front runner. he is very close to governor kuroda. you see this footage of them going into the bank of japan building at the last meeting in january where they did not do anything, they did not make any more tweaks to yield curve control as they did in december. the governor made it clear that is what he expects as has one of the deputy governors you saw also going into the building. you don't know if inflation well stay that high.

in our latest poll it shows that amamiya is the most logical choice. another is the next closest. he has a lifer at the boj. he started their in 1979 and has held many positions before he took the post of deputy governor about 4.5 years ago. he is called mr. boj. he is expected to be in favor of keeping policy flexible for now. but he was one of the architects of some the major moves made under the governor coming yield curve control in 2016, moved to negative rates at the beginning of that year and he is one that is also considered as someone

that could steer them through the markets. and a former deputy boj governor has been more concerned the last several years about keeping the extraordinary stimulus in place for so long will create financial instability. that is one of his calling cards. but the closeness that amamiya has with the governor is a factor. in terms of where he stands we have a chart showing he is in the dovish camp. that is something that would keep him in this let's keep things going as we figure out how quickly we will have to exit yield curve control. let me add that a couple weeks ago reuters reported that the new governor nominee will likely be presented to the parliament on february 10 according to their sources and we will get to see their testimonies in the middle of february.

we are getting close. we don't know. no one is going to say yet what is happening but it does reinforce the expectation that has been building for a while that he will succeed mr. kuroda. haidi: kathleen hays with the latest on that. the other big market story we continue to watch going into the third week the ongoing crisis surrounding the indian conglomerate adani. officials trying to calm investor nerves. the high-stakes of a potential contagion or spillover effects seen over the weekend as we saw these moves to try to quiet the markets. >> aquatic coordinator response trying to stem the rally because it is quite significant in terms of what we have heard so far. the indian government has largely stayed quiet on the

issue but over the weekend we heard from the countries finance minister and she tried to distance what is going on with adani to any broader market implications. she says this is a company specific issue. the other place we heard from was the country's market watch dog. they said india's financial markets are stable and continue to function in a transparent and of patient manner. there has been a lot of credit stress around this company. look at the terminal charge. it shows some of the bonds for the adani group has already fallen into the stress group yielding 30% higher in the secondary market. there is the continued pushback we are seeing from within the government because the main opposition party in congress are planning demonstrations to take place on monday to try to highlight the risks seen for smaller investments. they could see their wealth eroded.

you have to take into consideration what we are hearing from the ratings agencies because those views have been mixed but a more positive one came from fitch. they said the ratings are still in tact. the s&p did a downgrade. the big question is how the markets will start trade today because we saw the selloff start to stabilize on friday. the market cap, 50% has been eroded so far. shery: we do have a couple earnings coming from adani group companies including adani green energy and adani power. can we expect more buzz -- can we expect more volatility this week? >> key energy earnings coming this week. a lot of companies in the spotlight. the big question is how well it manages its debt obligations. that could be highlighted in the earnings calls. there have been a lot of questions about this. last week they showed the share

sale. other big story will be around a bond sale that was supposed to be worth 122 million dollars that has been shelved. this is the timeline of the debt repayments. they honor those obligations around adani ports. the issues that could come that would reduce the groups ability to raise cash around. or refinance its ongoing debt obligations. moody's says that could be the case and local media has reported similarly saying adani could moderate its capex plans. shery: the latest on adani and what to expect this week. let's get over to vonnie quinn. vonnie: the head of the international energy agency says

china's economy could be poised for a stronger than anticipated rebound creating a demand boost for oil and natural gas. the executive director says he expects china to deliver around half of the forecast increase in oil demand of almost 2 million barrels a day this year. >> if we say moderate rebound of china's economy we expect this year that half of the growth in global oil demand will come from china only. and maybe some institutions claim that china's economy may be stronger than expected putting higher upward pressure on the demand side. vonnie: new zealand's prime minister has antagonized a party on including a stance on including indigenous people. chris hamptons says the government may slow work on coke government work.

she says she is shocked and disappointed by the remarks. since taking over the new state leader has been attempting to win back it'll ground voters. lowy institute has china standing in the asia-pacific has been damaged by its decision to stick with covid zero. this is -- global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am vonnie quinn. this is bloomberg. haidi: lowy institute will share mode details about the survey showing china's standing having taken the greatest hits. and we will be previewing --. this is bloomberg. ♪

haidi: you are watching daybreak australia. australia is set to release inflation data later today. the imf is anticipating a gradual decline. we are also getting inflation

data from china. on tuesday bloomberg economist predicting the last rate in the cycle with a 15 basis point hike and india is set to release its monetary policy decision. president biden will deliver the state of the union address before congress on tuesday. he is expected to highlight key priorities and legislative goals as a new republican-controlled house settles in. china ppi and foreign reserve numbers and data out of japan. and filling out the labor market . shery: corporate governance will be a main focus for asia earnings with adani's empire spiraling. adani green energy expected to report third-quarter earnings amid a stock selloff. we will also watch earnings from softbank and nintendo and tata steel. india is set to make some bold

announcements during its three-day india energy week forum. the u.s. and brazil, two of the world's largest biofuel markets are joining the india lead initiative boosting demand for the lower emissions energy source. that is your week ahead. our next guest says she is trimming equities across her portfolios but she sees some compelling long-term opportunities in non-u.s. stocks. experience's -- aspiriant's sandi bragar join us. a red-hot labor market. sandi: we think the stock market particularly in the u.s. is too focused on the inflation story and is not paying enough attention to what could be happening with recession. the stock market here is up about 15% since the end of the third quarter of 2022. to us that was a great opportunity to trim our stocks.

we have been doing rebalancing and in some of our portfolios we have been moving some allocations in stocks arc into bonds which we had lightened up on ahead of 2022. we think investors should be looking ahead. we think the story is really about a possible recession. inflation is coming down and that is great. a lot of folks are making predictions about what is going to happen with the fed in terms of backing off further rate increases later in the year. that could happen. to us, it does not make sense to make any strong calls with the fed, inflation or even recession because it is hard to get the calls correct and get them time to write. we are telling our clients that are corporate executives and entrepreneurs to stay diversified. shery: does that mean advanced or emerging markets? sandi: both. we are favoring emerging markets

. with china opening back up after the pandemic, we see opportunities there. there is less macro risk in emerging market currencies then we see in developed market currencies. valuations are more attractive. over the long term we are looking out 10 years versus 10 months we think emerging markets are the place to be but we also like europe and japan so we are broadly diversified overseas. haidi: when you look at emerging markets and what is going on with adani, what are the elements of caution you might be exercising because this is not an uncommon theme given we have seen similar episodes with other chinese conglomerates. sandi: diversification is key not just across broad equity classes but within them as well. we are making investments in emerging markets and looking at

a broad diversification of countries and companies. we are focused on companies with relatively low valuations and good fundamentals. we think being broadly diversified will help. so far the adani situation seems to be contained. the diversification will continue to help us out if it does get -- if it unravels more. haidi: do you find value in tech right now or in the ongoing months if we see more of a moderation? sandi: the tech stocks have sold off quite a bit. we are looking for deeper value. we like some of the tech names, microsoft, apple are a few quality companies. and we do like those but we are looking for deeper value and more into consumer products and also financials and materials as well. shery: is that also considering

the trajectory of the bond yields from here? sandi: it is. the stock market is signaling a soft landing in the u.s. and the bond markets is signaling a recession. despite all of that, we are more aligned with the bond market right now. our concerns about recession are real. right now the 10 year yield is below the three-month yield and that has happened eight times before and all of those times before it is ended in recession. we do like bonds. in 2020 three coming up there double-digit declines in 2022 we expect them to deliver attractive returns and bolster volatility in the overall portfolio. we are not backing off but we are keeping 30% or 40% of our allocations in bonds. haidi: always great to check with you.

sandi bragar. you can also get a round about the stories to your day going in today's edition of daybreak. terminal subscribers can find it at dayb and you can customize your settings so you can get the information that matters to you. this is bloomberg. ♪

shery: here's a quick check of the latest headlines. elon musk says twitter is trending to break even after he had to save it from bankruptcy. he said the last three months were extremely tough as he had to juggle the rescue of the social media platform and handle responsibilities of the other companies he oversees. in other company has received another approach to buy the company.

there are possible suitors for australia's biggest gold miner . the company is being advised as to whether the proposal would benefit shareholders. hong kong's chief executive is trying to convince saudi aramco to enlist in the city. they will need to talk to executives about the oil producer as he embarks on his first official visit to the middle east. haidi: china has suffered the greatest decline in the ranking power index. we hear from the lowy 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. 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.

vonnie: i am vonnie quinn with the first word headlines.

the boj deputy has been approached to become the central banks next chief. the nikkei reports that the government and ruling coalition have discussed him succeeding governor kuroda, whose term ends in april. this could extend the boj's current easy policy. a company is shelving a plan to raise money through its first bond sale. the flexure firm was planning a january issuance but work has stopped amid attacks from short seller hindenburg. adani group is also scrubbing fundraising efforts. indian government officials have stepped in to address concerns. ministers say regulators are independent and competent enough to deal with the fallout well the securities and exchange ward says it would ensure market

integrity. the rbi also give assurances banks are within limits to their exposure to the conglomerate. the g7 and eu setting a $100 per barrel price cap on russian diesel in a bid to limit moscow's revenues. the group also backs a limit of $45 for those products that sell at a discount such as fuel oil and others. they are also reviewing a $60 cap on russian crude until march. two chinese postcard ships tilde philippine ship -- tailed a philippine ship last february. admitted china's increased presence in the south china sea, the u.s. and philippines have agreed to resume joint patrols in the area. beijing has shifted from expressing regret to threatening

retaliation over the u.s. shooting down a high-tech chinese balloon out of the sky. they say it was a civilian vehicle that unexpectedly drifted over u.s. territory. beijing has condemned the reaction. secretary of state blinken called the balloon and airspace violation and postponed his trip to beijing. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. haidi: breaking news when it comes to new crest, the australian minor, newmont offered 0.38 shares per one new crest share in a takeover bid, they are considering the proposal. the offer for that is also nonbinding from newmont and we are getting details of the 0.38 shares her one new crest share in the takeover bid. we had heard earlier there was

an approach by a company to buy the company. they've sought legal and financial advice and benefits to shareholders. we are hearing that these talks are underway. advisors have been called in for australia's biggest gold miners and it appears that newmont is the potential buyer, adding this gold miner to its global portfolio. this is $20 billion australian company that could be potentially folded into newmont. we are getting details as to what the offer was. new crest is considering the proposal. the decision to stick with the covid zero plan for most of 2022 has eroded china's standing in the asia-pacific. the asia power index shows china register the greatest decline out of the 26 nations and territories surveyed.

the u.s. was solidified as the leading regional power. my guest joins me. this is a fascinating read, especially in light of the last few days, the shooting down of the chinese weather balloon. and the two and fro from beijing in washington. when you look at a diplomatic incident like this, what is the reaction and handling tell you about where the superpowers set? >> i think it tells us the intense competition and at times confrontation between the two superpowers is here to stay. we saw last year there was some more diplomatic overtures between the two countries and many people might have hoped that might mean the two countries would have closer and more stable relations in only 23 but now we can clearly see with this balloon incident china is not going to be stepping back from its pattern of using its military capability in a much

more assertive way. haidi: do we also assume with the canceling of antony blinken's trip, the friction has intensified, that the guardrails supposedly in place are not that solid? there are clearly domestic priorities taking effect here. susannah: i think the focus was supposed to be putting in place some of those guardrails that were discussed at a higher level when xi jinping and president biden met last year. given the incident with the balloon and the u.s. response of shooting it down, i think the u.s. decision was there was no way the atmosphere could be established for those kind of talks to take place. we will have to wait and see when the time will be right. shery: tell us a little bit about the asia power index and if this could also give an indication of the feelings toward china, given all of these international incidents. susannah: the asia power index

shows that overall the united states remains the most powerful country in the region, more powerful than china. according to the way we measure power, the u.s. leads china on six out of eight measures. it still has very strong, for example, defense networks in the region, its military capability is still higher than what china has been china also has certain advantages, especially in terms of its economic relationships with the region. inking about its trade and investment as a big source of its regional influence. shery: the u.s. has been trying to court india's favor as well to gain more influence in the region. what role is india playing at this point? susannah: i think the assumption that many people have is india will be a key part of the u.s. indo pacific strategy, but the asia power index does call that into question because it shows that india's influence is quite

patchy. it is quite weak on the economic side in terms of regional engagement and its influence is heavily concentrated in south asia. that means it is unclear what role india would be playing in terms of major east asian flashpoints like south china sea or taiwan. haidi: what is it mean for middle powers when there is so much uncertainty between the u.s. and china? you look at australia, which has been burned before by sticking its neck out as a u.s. ally. is there a better strategy? i know the singapore model was always seen as being able to walk the line. susannah: the southeast asian countries for their size perform strongly in the asia power index because they are diplomatically active, outward looking, singapore is the prime example of that. i think what the asia power index suggests is ultimately we will be in a region that will be defined by bipolar bribery

between the two superpowers rather than the multipolar system some might be hoping for. haidi: fascinating. let's stay with china's exit from covid zero and bring in annabelle. you look at how this has impacted oil prices the coming year, it's the biggest inflationary wildcard looking at. annabelle: that's right, a lot of analysts saying as china continues to move away from its covid zero policies, that will be the key driver of oil prices in the coming year, currently around and $80 level. goldman sachs says we are likely to get to $100 per barrel per year off of that and we will have sanctions on russia also reducing exports from that country. the other factor jeff curry spoke to bloomberg about on the sidelines of a conference on the weekend is what happens to production capacity, another major issue. underinvestment means we are not

ready to meet the demand, given it is not there in place. that is another issue that could emerge into the coming year and into 2024, because right now we are not seeing that from china, it appears we will see precious building and commodity markets. shery: will there be global demand? we are talking about the potential economic downturn coming soon. annabelle: that's right, the big question is what sort of landing we see. there's a little more expectations now building to see that maybe we will get the soft landing in place. still there is the risk that the could be a hard landing and that weighs heavily on oil prices could this is something we spoke to the -- oil prices. this is something we spoke to former treasury secretary larry summers about over the weekend and he was surprised by the jobs numbers that came through on friday. he doesn't say that means it is necessarily a good thing for the economy because basically he

says there's also the risk of that the layoffs we are seeing in the tech sector start to spread to other industries as well. take a listen. larry: is it going to turn out that at some point people realize they've got too much inventory and labor and we are going to see a fairly sudden stop? i think it's as difficult an economy to read as i can remember. shery: next, the asx 200 on its fifth straight week of gains. we will hear from wilson asset management. this is bloomberg. ♪

shery: as we reported earlier, australian gold miner new crest has received a takeover offer from newmont. the nonbinding offer is for 0.38 for each new crest share. paul: .38 share in newmont for everyone share of new crest. this is just six lines here, it just guard -- it describes the

upper as indicative, nonbinding and subject to conditions. a lot of those conditions are what you would expect, shareholder approval, regulatory approval, including the foreign investment review board in australia. newmont is a big player, the biggest player in the north american gold scene with about $57 billion, north america's largest gold miner. it has attempted to acquire newmont before. the earlier officer -- earlier offer was pushed back and it seems for the time being to be detained by the board. it has retained legal advisors to look into this and for now it says shareholders need not do anything while this is examined. new crest had a market cap on friday of about $20 billion so it will be worth watching this at the open. haidi: this is kind of a dream deal for a lot of these global players in terms of looking at new crest. paul: very much so. this was looked at in 2018 one a lot of the acquisition and m&a

was going on in the gold space. several comedies had a look at new crest at the time. this deal would have given any of them, it looks like now newmont, access to impressive australian assets asx listing. papa new guinea, expected to produce about 2 million ounces in the coming year. and the new crest and newmont board are well-known to each other, although the new crest leadership is in a state of flux right now. they have an interim ceo but it is understood a bit of disagreement about whether she will continue in the role or there will be an external applicant. a lot of change and uncertainty at new crest at the moment and as i mentioned, we will keep a close eye on the stock when we get going. haidi: we just had those details in the last few minutes or so. paul allen with some action potentially in the deal space. we are also watching for some of

australia's biggest listed companies reporting resorts. the beginning of the guidance about how they expect the year to pan out. our next guest says she is cautious of anything expected to rally strongly. we know this is largely backward looking. what are you looking for in commentary and guidance that will give you the confidence to move forward? anna: i think companies that eat expectations and those that outperform markets will be different things for that exact reason. if the reported results are really strong, some retail names for example, the outlook is possibly more uncertainty and they might not get rewarded. we think outlook will be few and far between and for those that do report them, they will get rewarded. haidi: when you look at sectors or even technical styles for trading, what is dominant for you, given that i guess the policy outlook where we are at

in the cycle and even inflation, it could look a bit different for australia? anna: the asx 200 is up to hundred percent calendar year to date, extremely strong. we are looking for stocks that haven't rallied. an example might be brambles, they haven't participated in the rally but cash flows will be aided by pallet pricing falling. we think that stock will be strong. some other names, maybe telstra, extremely strong mobile market. the competitor had a recent data breach and they will benefit. the asset monetization program, we should get an update on, and we think the new ceo is doing a great job. there are pockets of value we think but you have to choose carefully given the ramp to these results, it wasn't caused by fundamentals. it is a bond yields driven. it is reason to be cautious. shery: any pockets of value when it comes to minors?

they have already rally but how much is the reopening of china already priced in? anna: it does feel like the reopening of china has been largely priced in, it is positive for the names. just the rally has been so quick that it does feel like the heat will come out of that trade all of the minors have reported early production and results will be focused on dividends. from a dividend perspective, rio is the preferred play. shery: we are looking at potentially the last rate hike of the cycle for the rba this week. with that in mind, is there anything that is attractive at this point? i'm think and perhaps the rates sensitive areas. anna: tomorrow is the first time we hear from the rba this year and given the hot cpi prints that cannot be ignored, it is widely expected there will be a 25 basis point hike. the right market is anticipating

one more hike in the coming months before pausing. all eyes tomorrow will be on the final statement where they talk to future rate and following the data. that will be looked at very closely, but like all central banks, until they are dovish, they have to be hawkish. we are positioned toward the high, extremely defensive but rate sensitive names such as infrastructure. the toll roads. gas pipelines. airports. those of the names we are playing into tomorrow's announcement. haidi: you mentioned you don't think organ rates have been felt yet even though some of the retail numbers have been a little bit patchy. do you think we are over the worst of it? is the path through yet to come and could that be balanced out by the return of chinese spending? anna: i have to say i don't think we are over the worst of it. there is a widely flagged a fixed rate clip that is coming.

even the variable rates still occur with the lack from the rba. mortgage holders notified when it hits their bank account. i think there will probably be more pain in the coming months but markets are forward-looking. as soon as these leading indicators begin to bottom, i think that will be a bottom of and equity markets as well. haidi: what are you watching as far as currency? anna: for australia it is driven by china. i think that will be the absolute driver in the coming year. haidi: when it comes to the geopolitical tensions -- we have seen big headline stocks impacted, a lot of the miners impacted. is that in the back of your mind when it comes to looking at that exposure directly or indirectly to china? anna: definitely. we had a worst case scenario for them, so it's only positive for

that. over the weekend, slightly shakier but it feels like australian and china relations have reached a turning point, hopefully only positive from here. haidi: great to have you with us, anna. tune into bloomberg radio, you can hear more from newsmakers and get in-depth analysis from the daybreak team. you can listen in by the act, radio plus or bloombergradio.com. much more ahead. this is bloomberg. ♪

haidi: a quick check of the business flash headlines. investigators are investigating a data breach of former credit suisse headlines. under probe include corporate espionage, trade secrets and violations of banking secrecy laws after the information on 18,000 accounts was leaked to an international consortium of media. the hackers behind a ransomware attack on iron trading u.k. claims the company has paid the ransom had the attack was -- the attack began last tuesday. security experts say paying the ransom will not automatically restore computer systems and the recovery could drag on for months.

iron trading has declined to comment. shery: these are some of the stocks we are watching, newcrest mining, receiving an approach to buy new mom. -- receiving an approach to buy from newmont. we are also watching argo global among other names. these are some of the earnings we are expecting later today. as we are seeing our earnings season kicking off across australia. haidi: yes. this as we get into a week that brings us what is seen to be the last hike of the cycle for the rba. what's of expectations. bloomberg economics expecting a smaller than expected hike of 15 basis points. also expecting more than 25 basis points, outliers. we are down in fx futures after arise for a fourth straight

session. probably muted start. the aussie dollar under the $.78 level. we had the burst of u.s. dollar strength out of the job surprise, the fear of higher rates after unemployment, the rate fell to a 53 year low on friday data. also the resurgence of consumer demand as well. watching japan keenly in the days of trading session. we had heard officials in the ruling coalition had talks with someone being approach for the next governor. we saw a slide in the end, but the 1% slide at the sydney open was also not just in response of that report but on the back of some dollar strength as well. shery: talking about dollar strength, the most since september. we continue to see geopolitical tensions between the u.s. and china as well as some haven moves toward the greenback. we are going to be watching how

debbie a ti trades at the open in a few minutes because we were seeing downside pressure on a stronger u.s. dollar as well. we are watching that eu band coming into effect when it comes to russian refined fuels. also watching saudi arabia's energy minister being a little more cautious about surging production. haidi: in the next hour, chairman of dalton investments will be joining us, why it is more difficult to invest in china. and: hackworth shares why he bet on japan's aging ski industry.