scarlet: you are watching daybreak: asia. >> we are counting down to the market opens in tokyo and seoul. haidi: australia has just come online. president biden wants to speak with xi jinping to ease tensions after the u.s. shutdown the suspected spy balloon. two fed officials put 50 basis points hikes back on the table. and another grilling from lawmakers amid criticism over messaging. >> governor lee very much in focus here in australia particularly over the comments he is making in -- what is interesting is he says that he is conscious about the impact this is having on the community. he has faced a lot of harsh

criticism for not properly or openly communicating the path of rate hikes in the months ahead. in terms of the direction for bonds, we are probably are likely to be tracking those moves with two fed officials saying they are open to 50 basis point hikes. we are trading flat for the asx 200. we will see the staggered start comes on nine-month -- nine minutes to get fully underway. when we looked across the currency landscape, but only one trading higher was what we sow with the yen it is now trading steadily. nikkei futures are pointing to a slower start as well. china is one of the markets that was standing out in january into february.

that rally looks to be petering out. the likes of barklay saying if you haven't bought in yet, you probably missed the boat. scarlet: futures are under pressure after a down day in wall street. we have the 10 year yield rising past 380 level. we continue to watch the future space. we have data showing u.s. producer prices rebounded the most since june. jobless claims falling below estimates. this is really being digested as perhaps the fed having to stay higher for longer. even bring in more 50 basis point hikes. take a look at the treasury space because that's where all of the excitement was. i mentioned the 380 level king passed on the 10 year. all of this to say that it is

leading to a flatter curve. let's delve into what led to all of this and that is two fed officials opening the door to a shift in rate hikes as they signal the effort to curb inflation is far from one. >> this is not only because of what two fed bank president said it's also because of what the numbers have been telling us about inflation. the labor market, the economy. let's start with the president of the cleveland fed who said the inflation risks are still to the upside. she is still concerned about the war in ukraine. >> at this juncture the incoming data have not changed my view that we need to bring the fed funds rate above 5% and hold it there for some time. at our meeting two weeks ago setting aside what financial

market participants expected us to do, i saw a compelling economic case for a 50 basis point increase which would have brought the top of the target rate to 5%. >> she spoke thursday morning around 8:30. around 1:30, jim bullard spoke and he said he joined her in his push for 50 basis points at the last meeting. he wants to get the key rate up to 5.4% as soon as possible. he is not ruling out supporting a 50 basis point hike in march. the story from mitch miller today talking about how the amount of hikes that are going to be needed the number will be higher not only that what the market is expected but also what the fed expected. let's talk about the numbers

that might support this idea that maybe the fed will have to go higher and stay there longer. u.s. producer prices the biggest gain since june on the month up 0.7%. expected .4% in the markets. year-over-year 6%. those numbers are moving in the wrong direction. i love this chart showing you that there were some negative months of producer prices. we see goods prices broadly rising again. that must worried the fed because they were coming down. wholesale prices they translate to the cpi. finally jobless claims new claims for unemployment benefits stay very low. they went down to 194,000. anything below 200,000 is well below the average that we saw during the pandemic and even pre-pandemic level was nice and

low like this. this is not look like an economy that is heading toward a recession. scarlet: kathleen hays with the latest on where the fed could go from here given those numbers. let's turn to president biden saying he wants to speak with xi jinping to ease tensions over the shooting down of a suspected chinese spy balloon. >> as i have said since the beginning of the administration, we seek competition not conflict china. we are not looking for a new cold war. but i make no apologies and we will compete. >> let's discuss all of this with jodi schneider in new york. again this line up competition

not conflict, we don't want a new cold war. but there is the sense that president biden wants to reestablish this relationship with beijing. >> this is an important speech for him. he made these remarks before he leaves for poland on monday. he wanted to be very clear that while he was not apologizing for shooting down the alleged spy balloon over the coast of south carolina on february 4, but that he did want to reestablish the relationship with his chinese counterpart and that he didn't want the relationship to deteriorate any further. he also said the other three objects that were shot down, they didn't believe they were related to spying by foreign nations. he seemed to indicate that was not the same thing as the first balloon.

he is trying to proffer an olive branch if you will. scarlet: what does this mean for a possible meeting between secretary blinken and his counterpart? >> that's the real question there had been intended meetings between the secretary of state and his counterpart before this happened a look like they were making progress. there were conversations between president biden and xi jinping on the sidelines of the g20 last fall and looked like things were going to move to even more conversations. it looked like we were going to see janet yellen go to beijing and her counterpart to come to washington. then we had this series of events that seem to derail that. president biden clearly what's to get that on track and is hoping for a phone call between him and xi jinping very soon. >> at the same time, we are

seeing beijing issue new sanctions and penalties against lockheed martin and raytheon. these are seen as largely symbolic and almost immaterial. what does that tell us about the message being sent? >> i think the symbolism is that china is trying to show it is doing something. there is a messaging to the domestic audience which is that china is going to stand up for its rights and sovereignty. at the same time are clearly they are trying to find a way to step back from the situation to temper the tensions with the united states and to set the ground for a meeting between secretary blinken and his counterpart. also a call between president biden and xi jinping. it's trying to have its cake and eat it too. scarlet: what are we expecting china to do next?

>> domestically there will be messaging that what china has done has been enough. that is protected the dignity the prestige of the country. then i think there will be more messaging to the domestic audience about the good things that will come out of strengthening the relationship between the u.s. and china about trying to put a floor on the relationship and how that will benefit the people. scarlet: let's get the vonnie quinn. vonnie: australian and chinese officials will meet in the coming days to discuss a relaxation of trade restrictions. the us trillion told bloomberg the freeze is over and we are moving to a warm spring. he says he is hopeful that breakthroughs to chinese consumers.

state television reports that the standing committee saying the adjustment of covid controls have been totally right. china reported 102 deaths on monday which is down from 4000 january 4. an adani group bond jumped the most with investors saying they will address debt maturities. they are promising a plan by july. the 15 u.s. currency bonds issued by the company's have lost 738 millions dollars. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: ahead we will be speaking with leadership about ongoing equality issues in workplaces. scarlet: plus a ceo says strong

demand for trucks is -- there drive for electric vehicles. that's coming up. this is bloomberg. ♪

>> i think we can lock in this disinflationary trend by continuing to have policy rate increases during 2023 even though the real economy looks like it will continue to grow and the labor market broadly across the country looks like it will remain strong. scarlet: next guest thanks that inflation comeback narrative has driven the recent correction in asian markets but in the broader context, price pressures have rolled over.

always great to have you with us. does this mean you are still buying the debt? -- buying dips? >> yes, the short answer is we are buying dips particularly in china and australia. some of the recent correction has been interest-rate led and some seem to be priced for perfection. there were record highs and earnings, a big jump in the dividend and good guidance. to us, that suggests we want to be buyers. on the australian market you have resource shares trading on single-digit pes that's really attractive with china reopening. we are still in the market for

shares in australia and china. scarlet: we were hearing from a governor today talking about how inflation is still high and we have seen the labor market also type although we did get weaker numbers for the month of january. if we do continue to get those higher rates in australia, those earnings priced for perfection, how long can they last? >> the household savings buffer in australia is huge and that's what he was alluding to in his presentations this week. that should help underpin consumption. another was saying the same thing that we should see a soft landing. to be sure there are eruptions in the fixed income market. i think if you step back a little bit and expect nothing is going to move in a straight line, there will be some

month-to-month disruptions, these are the things you want to be buying for the rest of the forecast somewhere between six month to one year i think these are still going to be good levels to be buying in australia and china. >> i know you have some background when it comes to central banks particularly in this part of the world. i'm curious to get your thoughts about the debate over to much communication, not enough communication, the wrong type of communication and whether he is right about this narrow path he has to stay on to fight inflation? >> it's a challenge. i think he acquitted himself very well in front of parliament this week particularly by pointing out this is a collective decision not a singular decision. going forward i think the rba actions the last time i was on i said i think they're threading the needle and i haven't changed

my opinion on that. i think that is the case. the pressures that he is under play more as political theater they in anything he should be materially worried about because the economy looks like it's in enviable shape. >> howdy potentially trade around the volatility around china at the moment? do you prefer to get the direct exposure is a commodities, is that overdone? if you are directing -- directly investing into the china rally you may have missed the boat at this stage. >> i don't think so. i think this move is only getting started. nothing is going to move in a straight line. we look at different indicators for different countries and some matter more than others. as it pertains to china, it's mostly about liquidity. we are seeing liquidity pickup.

you talked about the total social finance numbers growing in double digits and while it isn't a confirmed recovery yet, i get that there are still plenty of green shoots that need to blossom. this move in china could now be multiple years back up as it was back down because so many of the policy decisions are robust. we need to give it some time and by the dips. >> what about geopolitics between the china and u.s. and the defragmentation we have seen in the world? >> a challenge but as you highlighted, there seems to be an acceptance that you need to have a more conciliatory tone. from our side, we would love to see some of the globalization forces return because when you look at those forces, china has

really been punished over the last few years and asia as well. trade as a percent of gdp post global financial crisis was 70%. it's down in the mid 50's now. if you look at it in the rest of the world it stuck at the same 55% level. asia has been the one that has had costings there. if we revert to more conciliatory relationships and trade picks up as a percent of ddp in asia, or folio flows are coming back as well and that fuels part of the narrative. >> great to have you with us. we're talking about trade. we are getting singapore trade numbers later today. plenty more to come. this is bloomberg. ♪

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general motors says strong demand for trucks has spurned an

increase in its electric vehicle offerings. >> our internal combustion engine business is doing quite well and i think we have the best lineup of product that we have had in a very long time. we keep making it better and better. we just did a major refresh on our full-size trucks. we have a brand-new heavy-duty sierra and silverado coming out. we also have brand-new midsize trucks coming out, that's the colorado and gmc canyon. that's just the truck portfolio. we have a chevrolet -- this is an and true -- entry-level vehicle. affordable with great safety and conductivity and it's around $20,000. it's a lot of fun to drive, great fuel efficiency.

when i look at our portfolio of internal can -- combustion engines, i'm very excited. we have very strong demand for our trucks. our full-sized suvs, we can't build enough of them. i'm excited about the demand, the customers are responding and that kind of response is really what is giving us the ability to generate the profitability. we had strong profitability last year and that allows us to continue to invest from an eb perspective. -- from an ev perspective. >> you talked about the high-level more expensive once. how important is it for you to fill in the price point so you can reach the full range of potential consumers? >> it's critically important if we want to achieve goals to get

to a percentage of all vehicles to be electric vehicles. i'm so proud of the chevrolet equinox and blazer both logic vehicles coming out this year. the equinox will be around $30,000 and blazer will be in the $40,000 or $45,000 range. they have safety technology, conductivity and the performance of those vehicles are going to surprise and delight our customers. because it's in the sweet spot of the market, we think there's going to be a huge opportunity to sell a lot of them. >> you are in investment mode. you have pledged your going to maintain margins to the best of your ability. you have to do that in part by costs. i wonder in any business i've ever seen, you're always spending too much in some places and to little and others. as you look to the future, where

do you need to spend more and less? >> any part of the business can be made more efficient. even when you're growing, you can look at how do i grow efficiently? i tell the team i want you to be scrappy. pretend it's your own money and your last dollar, how are you going to spend it and getting that kind of creativity, that's where people do their best work. we are optimizing our internal combustion business but making sure we are giving the customer everything they want and more. but we found we can do that with a lot less complexity. i mentioned the chevrolet track that will have one engine. we can still meet the customer needs. we also found that through covid we could take out costs, reduce bureaucracy and now we have to continue to get at that. that's why we announced with earnings that we committed to take $2 billion out of

structural costs between 2023 and 2024 and i think -- i believe the team can do it. scarlet: coming up next, and adani group bond jumps the most on record as it continues to reassure investors. 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.

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>> over 2020 you added a more

explicit calendar to the forward guidance. my question is about the process leading up to that change between august 2019 and october 2020. was there -- that went to this issue? >> there were extensive board deliberations and this would have been covered in one of those rations. the august 19 paper was largely off the back of the work i had done at the bank for national settlements i chair the committee on the global financial system and we had done a review of unconventional policies and i chair that group and we discussed with the board the results of that. >> that was the rba governor

responding to questions from the house. let's bring in our economics reporter who has been watching all of this. he has recently been talking about the intersection of fiscal and monetary policy but what has been the tone and take away so far? >> for me, the biggest take away was that he is talking about two risks. going too far or not doing enough. that also explains why they want to go 25 basis points. they are slowly and consistently. he said this a couple of times that in an uncertain world it's better to do that than to go into big moves. so you are constantly reassessing. some of the markets felt like he is indicating they could pause a couple of times in this hiking

cycle. so they are not hiking every single month. they pause a month or so then hike. that's one interesting thing. another is that in spite of yesterday's week labor market data, he still thinks the market is tight, demand is strong. there was the hawkish message and he reiterated the point that rates need to go higher. scarlet: what are your projections right now also from economists when it comes to the economic strength of australia this year? it seems people are mostly expecting some week this but not necessarily a recession. >> that is right. in the past couple of days, some economists including two of the biggest banks in australia there economists have come out to say that the cash rate can go up to

4.1%. that is in line with market pricing although the median of economists point to 3.85%. a lot of economists are moving in that hawkish direction and they think economy can withstand that amount of interest rate hike in spite of the fact that australian economy is very much dependent on the housing market which is in a downturn. kind of like a reason why we can't avoid a recession is population growth is forecast to be very strong. we are seeing early than expected reopening of china which is positive and terms of trade are likely to stay strong as well as the relationship with our biggest trading partner is improving. haidi: is there an outsized risk of inflationary pressures of australia even the exposure to the china reopening? >> yes that is one of the things that might be blamed on policymakers mind.

so far in this session the question of china has not come up. we are not sure what they are thinking on that. definitely it is a big x factor for china's economy and for global inflation as well. haidi: we will continue to watch all of that for you and you can get the latest on our bloomberg blog as well. let's get to vonnie quinn. vonnie: president biden says he plans to speak with xi jinping over the downing of an alleged chinese spy balloon. he says intelligence agencies don't have -- evidence that three other objects shot down were surveillance craft. he also vowed to manage competition with china. >> as i have said since the beginning, we seek competition not conflict with china. we are not looking for a new cold war. but i make no apologies in we

will compete. vonnie: china is imposing fines and sanctions against lockheed martin and raytheon over weapon sales. the move is the latest sign of escalating tensions between the world's two largest economies. talk of bigger rate hikes in the u.s. saw the saw stocks sink. federal officials both signaled they would be open to a 50 basis point increase. the warnings come after u.s. producer prices rebounded in january by the most since june and jobless claims came in below expectations. one of china's most high-profile tech dealmakers has gone missing. china renaissance has been unable to contact the chairman and ceo.

in china, the term out of contact may mean the person is under investigation by authorities. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. scarlet: adani is pledging to tackle its debt load. a number of the groups bonds are in junk territory following a report from hindenburg. what are we hearing? annabelle: this has been a big issue for investors over the past few weeks since the shortselling report because we had the report earlier this week adani group saying its total debt stood somewhere around $27 billion. the question coming through is how is the group going to be managing that debt? now we hear executives have held another meeting with investors to try to reassure them. this one focused on adani green

energy and the bonds due in 2024. we understood it could come up with a plan to refinance those by the end of june this year and that sponsored huge rally. that is the biggest daily rise since september 2021. where adani is looking to tap its financing from, we understand it could come from private placements instead. so note with a potential maturity of 15 years. essentially the issue adani group is trying to do for adani group energy is to cut the ratio of net debt to earnings before interest taxes and other discounts to below three times next year the current level is around 3.2 times. haidi: they will also have to manage higher funding costs. annabelle: this is going to be a thorny issue. we have seen a number of adani

notes falling into junk territory. you have other issues as well because we have generally issues with yields spiking then access to overseas financing because investors are turning wary. this has made it really vulnerable especially because the group has been on a huge borrowing blitz over the last number of years taking around $8 billion from international bond buyers. you can see here how much it has become reliant on global bank financing. a huge increase coming from global banks. that is also going to have an issue when you have adani group not able to absorb the high interest rates coming through globally. adani group is going to have to be working for quite amount of time to restore investor confidence.

we understand that adani is setting up meetings to try to reassure fixed income investors. we heard those are supposed to start from thursday so perhaps already underway. haidi: coming up next we will be talking about how workplace economy is driving business performance among some of the world biggest companies. this is bloomberg. ♪ welcome to ameriprise. i'm sam morrison. my brother max recommended you. so my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcias, love working with you. because the advice we give is personalized,

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worldpride begins in sydney. with the streets and rush of corporate sponsor shot mark -- show -- the founder and ceo tells us he is here in sydney after having just flown in for worldpride. the weather is perfect, the decorations are on and we are looking ahead to the next few days and coming weeks of great celebrations but also reflections on how much work there is still to do. >> thank you for having me it's wonderful to be here back in

sydney. you're exactly right, there is so much work to do and i want to start with the positive. if you think about the progress we have seen around lgbtqia rights around the world, the business community has been the single largest driver of that. with my work without leadership we have 98 companies, 900 ceos, 30,000 business leaders around the world to use their economic power to fight for equality. haidi: i hate to be a downer, but rainbow washing. is there a sense that any drive to increase and highlight these issues even if it is on the side of corporate cynicism is a good thing? >> my philosophy has been that there is an economic opportunity from lgbtqia inclusion. we know companies that are

friendly outperform their peers in the stock market. there is a difference in pink washing and i draw the distinction between what companies do year-round and what they do internally. it's not just enough to have a rainbow flag once a year in pride, companies have to use their platform and we have seen and helped companies do that around the world. we have been getting companies to change their board diversity policies to be more inclusive including here in australia. helped the nasdaq increase their diversity. there is a huge momentum that is happening but there are companies that still just want to slash on a rainbow and say they are being supportive and i draw that distinction. scarlet: inner 13 years, how much progress have you seen from the business community understanding this rationale? >> it's exciting. i self describe as a recovering banker.

in 2001, i was at merrill lynch and i started the first team on wall street to focus on lgbtqia clients which had never happened and we brought in $200 billion in assets from the community. i got merrill lynch to support the rights because i tied it to business. we have gotten so many companies to do the exact same thing. there's huge momentum and i think the exciting part about our model is it's about soft power. saying to singapore that 19% of their gdp was financial services and that 19% said lgbtq people should not be illegal. that's the global challenge we still have. in 67 countries it is still illegal to be lgbtqia. i'm trying to connect the dots for our leaders so they see the economic opportunity and they are doing it. scarlet: when it comes to core

business practices, how do you embed that lgbtq equality mentality into them? >> a couple of different ways. i look at the internal and external opportunity. the company has to have all the right policies internally and almost 98% of them do now thanks to the work of a lot of other organizations in the community. measuring that is important. but the policies don't equal culture so it has to be implemented and enforced globally and that's one key piece that we help them understand. externally how can they tie it to their business? it's not just about the community, it's about allies. almost 90% of allies will support companies. what we have tied to these companies is that what they do for an invisible minority cents a huge message to all other

diverse leaders in their organizations and their clients. haidi: there is one statistic in our latest story that talks about the existing issues that stands out to me. or than 60% of lgbtq workers hide their sexuality to some extent. that is staggering to me. privacy is something that everyone is entitled to, but what is driving that and is it policy or culture that needs to be better to improve that? >> i think it's the culture. that is not just australia, it's globally. 60% of young leaders coming out of college go back in the closet. that is in companies that have all of these great policies. there is a policy called covering where you hide an aspect of your identity in the workplace and many still cover an aspect of their identity. we are still hiding in the workplace even though we are quote unquote out.

if you can't bring your entire self and speak about your friends, family, relationship, you are bringing your entirety to the company. haidi: you spoke about how corporations are driving inclusion. in a lot of these markets where the government isn't necessarily . even here in australia, we saw the withdrawal of the anti-religious discrimination act would have had hugely damaging repercussions. in the u.s., these bills are at the highest we have seen ever. at what point can you connect that and is the external environment still hugely damaging? >> yes this is a u.s. example. our leadership launched the first ever lgbtqia business climate index and we rank all 50 u.s. states on public where identifiable data points. from conversion therapy, hiv criminalization, trance rights.

last year we launched it in usa today and we had five states reach out to ask how they could do better. we are literally tying their policies to talent flight. in florida we know the 26% of lgbtq people have left anti-gay states in the last two years because of these policies. i'm try to make the case that these policies are costing them economic and talent opportunity to solve a problem that doesn't exist. trans people should be able to play sports that match their gender identities. scarlet: it was great to have you with us, thank you so much for your insights. coming up next, a close-up look at plans to go green and big. we will explain why not everyone is happy with the choice to push green hydrogen.

scarlet: with the world still reeling from an energy crisis, chile is hoping to capitalize on its vast potential for renewables. the government hopes to make the company -- country atop exporter of green hydrogen but it faces challenges and some criticism

from environmentalists. i'm an chilean patagonia, it could play a key role in providing the world with clean energy. it has some of the best conditions for renewables. it hasn't been easy capitalizing on this. exporting clean electricity is still challenging and -- enter green hydrogen. it can be stored and shipped and can be burned without releasing harmful gases. it is made using an electrolyzer running on renewable electricity. bloomberg estimates that as global prices of electrolyzer's fall, chiles hydrogen could be a low price in 2030 competitive against some fossil fuels. the plant only uses wind turbine to make green hydrogen but it synthesizes the hydrogen with

captured co2. the eventual product, gasoline. this is a different bet from other green hydrogen producers worldwide. it aims to supply guilt free gas to more than a billion combustion cars on the road today and eventually export synthetic fuels for shipping and aviation. >> i would say the transportation side of things is advantageous in the south because where we are located, we can go to eastern united states, western united states, europe, and asia. because we are using it's a liquid fuel whether it is methanol or gasoline, we using regular ships to be able to move the fuel around. it's not actually that expensive. >> as a pilot facility, it will make 130,000 liters of synthetic gas per year and all of it will be bought by porsche. production will be scaled up to 66 million leaders in 2026.

the stakes are high not only for the owner and its international partners but also for the government of chile. >> because of the prices at which it's going to be produced, it brings a promise of change to communities that really affected by climate change. >> chile now has 41 green hydrogen projects in the south and north of the country. those are regions with high-quality wins and solar radiation and host oil and coal industries that are dying out. some warned that the effort to go green backfired. >> what we don't have is an actual idea about the environmental value of the places where this industry wants to start to work. if we are going to use the massive spaces to create energy, that will mean we will not be able to use the land for other things.

to live, agriculture, so on. >> environmentalists are concerned about windfarms in the path of migratory birds. a much larger facility is already facing challenges getting an environmental permit. at a time when confidence is fragile, the leftist government will need to walk a fine line to achieve its goals and also attract global investments. scarlet: you can read more on the green energy ambitions on bloomberg businessweek on the terminal and bloomberg.com. haidi: tesla is recalling over 362,000 vehicles after authorities said the automated driving technology could increase the risk of a crash. they said the full self-driving

system may allow the vehicle to act unsafe around intersections. they added the errors could increase the risk of a collision if the driver does not intervene. china will scrutinize a recent agreement with ford to ensure the battery technology is not head over desk handed over to the carmaker. ford said the tie up with to the liffey and i am -- with the and i am -- battery produced. we are getting closer to the market opens in seoul and tokyo. this is bloomberg. ♪

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haidi: this is "bloomberg

daybreak: asia." we are counting down to the major market opens, a down day on wall street with more hawkish fed speak more resilient economic data. what that means for the fed is the big question. >> what that means for the rba, -- as an example of why this is a global inflation problem. confronting all central bankers. is messaging is clear for the need of further tightening we will continue to watch that testimony. >> all the focus in the session today. will be on central banks. the rba, the fed and likely -- likewise boj. we have the start of trading for cash treasuries a 10-year yield at the open, we saw it reaching its highest level this year after that harder than expected ppi data that came through. mortgage commentary from fed

officials. japan at the outset today we are getting more perspective coming through on what the boj perspective will be. the first meeting march 10, economist saying no change expected in terms of rate. will be the -- what would be the first to change? we could see a policy review come a lot of economist say scrapping the yield curve control and adjustments for guidance on guidance of interest rates. we are looking risk off the nikkei down .8% on the opening. we change what is coming through with fed officials, to more hawkish policymakers signaling we could see a 50 basis point hikes in the months ahead. the cleveland fed president and also echo by her counterpart at the st. louis fed. both the same policymakers

should be open to bigger rate hikes forward if the economic conditions warranted that. we have the ppi data in a session. off that receipt goldman sachs, bank of america, both of the banks raising the forecast of where they see the terminal rate of the 5.25 to 5.5 level. tech stocks declining and it looks old more risk up -- it looks more risk off. australia and asx 200, likewise in the red down half of a percent. we are watching was happening with the oil markets we are on track for a weekly loss. lots of concerns about rising inventories and prospects of further tightening. offsetting optimism from a recovery and demand from china. haidi: let's turn to our next

guest who thinks salt markets has run a bit too much this year, helen, good to have you with us. especially when it comes to those rate sensitive sectors. she mentioned those tech stocks in korea, how positive are you that we see more downside. given that we are not getting any signs that the fed would go on the other direction in terms of rate cuts? >> i think the market in general has been to sanguine your to date in terms of the prospect of an imminent fed pivot. not just the end of rate hikes but rate cuts by the end of next year. that is priced into the rates market but not perfected in equities. not the deep cyclicals in korea percent but a lot of the long duration have a growth software. retail meme stocks in the u.s. of popped up a lot we do nothing that is necessarily justified. there will not necessarily be a

50 basis point rate hike at the next fed meeting. we think the expectations were a lot of cuts in the second half of this year is overdone. inflation stickier than expected especially on the service or -- services front. haidi: are you finding any bargains in asia? >> there are a couple that are interesting, china has pulled back on the global retreat in the last couple of weeks. we still think that is a interesting area. even though it will not be a linear line to the economic recovery story, nonetheless the basis a low, you will see improvements. there will be more policy support as well if those improvements do not come through fairly quickly. we think that is one area that is buy on dips or continue to build to the year. positioning is low and valuations are low. the rest of asia we also like parts of the deep tech cyclicals are not necessarily long-duration, but a lot of the

tech subsectors have come down a lot in terms of asp and earnings expectations. some valuations as well, dram, nand and memory are at the bottom of the cycle. it remains to see if the come back up. areas like that would be quite interesting as well. in terms of interest rate sectors of -- sensitive sectors within china financials in japan financials are interesting. they are the very rare sectors and areas in the world where interest rates are coming off relatively low basis. for them to keep going up over the coming years. valuation is very cheap and positioning is very light as well. >> is this an area you think will have a meaningful impact when it comes to confidence? guest: absolutely.

allow the noise, for example of the balloon, etc. of the last few weeks is one driver for some of the risk off sentiment. this area is very difficult to predict on whether it is the russia ukraine conflict. last year was the intensification of the china issue lester. that -- last year. that will continue, the question is what is expected by the market and what is priced in? in terms of what is priced in, people have a fairly person mystic -- pessimistic expectations on these two issues. if things do not get incrementally worse, think the asset classes this year will be less than last year than some of the ones already digested. >> what is your read of the earnings season so far? guest: the earnings season in the u.s. has been quite mixed. some of the sectors, consumer,

etc., depending on where you are. some of the low end consumer is getting done with the inventory cleanup. even though the demand is not picked up i think the share prices are not overreacting that much. some of the later cycle stuff, high-end names, advertising names attend attract the economy on late cycle side, they are still starting to disappoint. on the other hand, infrastructure and other areas are holding up ok. and asia, in terms of earnings that are coming up people are not going to pay a huge amount of attention to china earnings, particular this result season because of the one-off covid discussion -- disruption of fourth quarter of last year. they will look at for guidance and the degree of confidence manage talks about the pace and sequential recoveries of our. >> was the preferred exposure when it comes to china? energy getting flowing in the tooth, commodities may have, he preferred direct or indirect exposure to the reopening story?

>> a lot of very direct reopening beneficiaries like travel, leisure, hotels etc. have caught up quite a bit. we think the indirect beneficiaries make 11 more cents. 4 -- a little bit more cents. for example, we think it is a secondary derivative beneficiary, the property name the selves, but the asset liquidities themselves, they will pale their suppliers -- pay off their suppliers, more activity invisibility in terms of orders as well. that is an area in a cyclical trough as well. financials is a indirect fishery as people get more confident about the economy -- beneficiary , as people get more confident about the economy. those are probably the more underappreciated and still less well-positioned subsectors that benefit from the reopening story. >> could have your insights.

managing director and cio of nf trinity with her views on the markets. let's get the vonnie quinn with her first word headlines. yvonne: chinese officials will meet in the coming days to discuss the lactation of trade restrictions. australian trade minister said his chinese counterpart says the freeze is over and they're moving to a warm spring. he is hopeful for breakthroughs on the sale of timber, wine, dairy to chinese consumers. china's top leaders says the country has achieved a decisive victory over it covid as death tolls drop sharply. the policies and adjustments of kobe controls since november have been told -- covid control since november has been totally right, they are down from 4000 day on january 4. the death in new zealand could rise as rescuers sifted through the concern -- destruction of the cyclone.

it caused flooding, landslides, destroying infrastructure. some are without power, phone, internet. new zealand's 5 -- finance minister says the event will have a sizable impact on the economy. one of china's high-profile tech dealmakers has gone missing they have been unable to contact him. incorporate china, the phrase out of contact could mean they are under investigation by the authorities or assisting with governmental probes. he is said to be absent for several days. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. haidi. haidi: taking a look at some of the tech movers in the asian session. annmarie: that is right, we did see the nasdaq and philadelphia semiconductor index dropping the lowest level since january after we had to beneficial sling the case possibly for higher rate

hikes in the months ahead, the cleveland fed president and the st. louis fed president, they say possibly 50 basis points could be possible. with high inflation numbers in the latest ppi numbers in the u.s.. these of the tax= -- tech and medic cap's -- megacap's. and other sectors the military stocks, given that we have seen china imposing fines and sanctions against to u.s. defense companies, lockheed martin and a subsidiary of raytheon technologies. in terms of the investor reaction we are seeing a little bit lower at the start of trade. we should note that what bloomberg intelligence says about this. essentially these measures are not expected to disrupt operations given that the subsidiary targeting is the

missile defense sector does not have much at all going into china. still we are looking like a risk off the across the board. haidi: we continue to watch the adani group trying to reassure investors. we have the latest on the company's plans to meet its debt obligations. up next china takes aim at two leading u.s. defense companies as president biden says he was a talk with jinping over skyhigh tensions. this is bloomberg. ♪

haidi: to top fed officials are opening the door to an upshift in rate hikes has more u.s. economic reports signal the battle to curb inflation is far from won. our global economics and policy

editor kathleen hays is here with the latest. 50 basis points back on the table. >> downshift was a big word for an well, 5225. -- 50-25. >> let's take a look at two people who have the ppi growth, that is we have a look at today. coming in much higher than expected on the headline. had something like 6%, the headline was for 5.4 percent year-over-year. this was after he had weakness in the previous months of producer prices. the fact that is moving up again if it does not good. these are wholesale prices. wholesale prices begin to retail prices. that feeds into consumer prices. that is why have to worry about this. we have the jobless claims report showing jobless claims remain very low. this is what apparently, florida

from the cleveland fed and the st. louis fed are referring to in the remarks today. let's start with president mester, he says inflation still to the upside and she did the last meeting open the door pretty wide to 50 basis point hikes. >> at this juncture the incoming data has not change my view that we will need to bring the fed funds rate above 5%, and hold it there for some time. setting aside what financial market precipitants expected us to our saw a propelling economic casework 50 basis point increase that would have brought the top of the target range to 5%. >> that was florida mester -- lorretta mr.. he joined her in the push for 50 basis point hikes at the last meeting. he wants to get the key rate up

to 5.735. he would not rule out supporting a 50 basis point rate hike at the coming meeting in march. there you have it, two fed officials, in the hawkish camp, you will see if they can convince the doves, keeping at 25, maybe move higher if you need to. maybe it is because they spoke to some to hot inflation reports. this is piling on, making the fed, at least two people that we should not have downshifted to 25 we have to go back up to 50. >> another grilling and australian parliament as we speak, what has been the direction of the questioning and key takeaways so far? pretty clear messaging from the governor. >> on so many fronts the tone got hostile at times yesterday. very academic.

like peers talking to each other, why to do that, we understand, explain it to us. speaking of shifts in rate hikes, with 25's, 75, 50's, a big deal. he was asked to explain why the rba starting back in october was shifting back to 25 basis points -- basis point hikes. we do smaller hikes you can do one big hike, boom it is one amount. hundred basis points or you can do 25, 25, 25, 25. in australia in the news the headlines that headlines look at the hikes themselves, not so much the size. if you do smaller basis point hikes may have the same conclusion, making it the same end point but you keep it in the news. another one of the board member saying in fact that this does have to do with inflation

expectations. if you keep this in the news that they are hiking rates to get inflation down you can affect people's psychology. infect -- effect inflation expectations. she also said, at thought it was interesting, that the research, the academic work on this is very inconclusive. people make a lot of assumptions is not exactly a science. it was an interesting finger talking about today. it shows central bank into a certain extent is not something one country does their way. is more like a science and an art, they're all practicing it in similar ways and they are certainly facing the same kinds of challenges. >> kathleen hays bubble economics and policy editor per the latest on our top central bank news. turning to geopolitics president biden says he wants to speak with chinese president xi jinping de is tensions -- to

ease tension over the shooting down of the balloons. >> like i said from the beginning of my administration we seek competition, not conflict with china. we are not seeking a new cold war. i make no apologies. we will compete. >> discussing this with blue -- bruce joining us out of hong kong. we continue to watch the developments when it comes to this relationship. the competition, not conflict, do not want a new cold war. what does this mean in terms of getting over this balloon saga getting the relationship back on track? guest: i think it is significant that president biden says he does want to speak with president xi about this. he did not say when the conversation would take place. this comes at a time when sinker terry estate antony blinken -- secretary of state antony blinken canceled his trip to china as a result of the

balloon. he was meeting with china's top foreign-policy official in a conference that begins today in munich. our sign is, there is potential for the two sides to try to move beyond this balloon incident. haidi: we are now hearing from beijing that the measures against lockheed martin and raytheon are loan based. they were hit with sanctions on these companies that analysts are viewing as symbolic. what we know? guest: they are largely symbolic, because the two companies, lucky martin -- lockheed martin and raytheon technologies subsidiary, a subsidiary of raytheon neither one of them do very much business in china. they put on this entities list.

it is similar to what the u.s. did just a few days ago also as a result of this incident. the u.s. put several chinese companies on an entities list. largely symbolic because those companies were not doing business in the u.s.. both sides are making moves that , on the one hand show they are doing something, on the other hand show they are not doing all that much to further escalate things. haidi: bloomberg reporter bruce joining us from hong kong. you can get a roundup of all the stories are watching the dow to get your day got -- what you need to know to get your day going. in the app. you can customize your settings to get the news and assets you care about. this is bloomberg. ♪

>> let's get back to where the rba governor is midway through when it comes to his grilling in front of the house of representatives economic committee. 's been talking by the dual risks -- he has been talking about the dual risks when it comes to the economic tightening. not doing enough and balancing that out with the proposition of even less than 25 basis point moves, they could pause from month-to-month that had been embedded into market expectations until this month. he has talked about the need for policy response flexibility as well. is not just the rba, but other global central banks managing the dual risks. at the moment he is questioned on the public munication strategy of the rba.

he says that is something that will be covered in the review of the rba that is due out next month. he is defending the communications in terms of his queen occasions and pushing back against the idea that -- communications and pushing back against the idea that more press conferences should be given by the rba. defending the existence of such meetings with bankers and that private events would allow him to have important conversations that are not possible in a public format. lots of interesting discussions. he is also being pressed on rental increases, that lag effective monetary transmission on the property market that is so key for australians. >> our viewers can continue watching that on tliv four expert commentary.

here is a latest check of the headlines, strong demand for expensive trucks is helping general motors find a blitz in its new electric vehicle offering, kueng to the ceo on an interview -- according to the ceo in an interview with bloomberg television. >> when i look at our portfolio of internal combustion engines i'm excited about it. they are doing well. the customers are expunged -- responding. there is strong demand for our trucks, full side as you -- size suv's, chevrolet, the suburban tahoe. >> tesla is recalling over 362 ,000 vehicles after the u.s. authorities said the automated driving technology could increase the risk of a crash. the full self-driving beta system could allow the vehicle to act unsafe around

intersections. the system errors could increase the risk of a collision at the driver does not intervene. >> they will scrutinize china's recent agreement to ensure that the battery giant's core technology is not headed over to a u.s. carmaker. it is a sign of heightened tensions complicating deals. the lithium ion phosphate battery technology is licensed for use to new plant in southwest michigan. we have more to come on daybreak. this is bloomberg. ♪ these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing.

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i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. treasury outstanding. in 1945 there was more. that was double the prewar gdp if you scale that to 2019. covert expenditure on the scale of what were to that is $40 trillion. >> what we are dealing with this kind of nothing. >> in the context. that is a very difficult problem, who will buy the equivalent of $40 trillion today in debt? >> we have breaking news out of singapore right now.

we are getting the nonoil domestic exports numbers out of singapore. they are a fall of 25% in january from a year earlier. a much bigger contraction then we saw in the month of december that already had contracted more than expected. when it comes to the month to month numbers it is a fall of .9%. the numbers do not paint a real pretty picture when it comes to singapore right now, a trade reliant economy. exports contracted year on year, remember manufacturing globally has taken a hit, perhaps that is what is affecting the numbers from singapore. nonoil domestic exports year on year it a contraction of 25% for the month of january. we are talking about 4 months of contraction for singapore already.

this is really knocking to help the risk off session we are seeing a crossed asia. annabelle: it absolutely is not, that is the problem when you have the deteriorating macro backdrop. lots of signs of that coming through, you still have inflation staying elevated. that was the big story in the u.s. overnight. stronger than expected ppi numbers, that tells us the fed and other central banks will have to stay aggressive. to officials in the u.s. both saying perhaps you need to see 50 basis point hikes back in order. we have had the likes of goldman sachs and bank of america both of those raising those projections of where the fed funds rate and's up -- ends up. in asia we see the repricing come through in the bond market. watching aussie bonds as well. it is not just the fed.

it is the rba, the governor there giving his second testimony this week to parliament and saying there is a need to keep hiking consistently. that is his base case. we came into this year thinking the rba could be ending -- nearing the end of its tightening cycle. inflation is sticky on the way down. we have dollar strength playback in. currencies in this part of the world looking weaker in terms of set up for the equities. u.s. stocks with another drop of the open, and the other ones currently trading likewise in the red right now. the question is how much can china start to question in the months -- cushion in the months? we need to sign -- see signs of recovery back in economic indicators. hsbc is the latest upgrading the gdp forecast. they say growth will come in at

.6% on the year -- 5.6% on the year. haidi: we are monitoring the latest with comes to adani, they said they would address upcoming maturity, there are concerns that the more highly leveraged companies have little capacity to absorb higher interest rates. what is the balance investors are trying to calculate? guest: they are trying to see whether i've done being proactive particularly around these debt levels that were concerning analyst even before the hindenburg report. in many ways the adani group is making the right noises. as we reported they are having a number of investor calls starting from yesterday where they are reaching out to bond investors.

very directly. as we also reported, pledging they will look to refinance and a lot of their debt with private loans with very long terms. that seems to as you say get quite a good response in the market. at least with that adani green bond they made a promise for. >> just as haidi alluded to, how will adani manage the higher funding costs? guest: this is not coming at a good time for a conglomerate that is being in a debt raising spree, unlike any other in india. given the scale of the projects they have been undertaken, both expanding the empire itself and also meeting the ambitions of prime minister modi and the government there. adani has been such a big

promoter of. this is not coming at the right time, it doesn't mean there on -- it means they are on a bit of a next edge -- knife's edge. while it looks positive particularly with the market reaction for now, is definitely something to keep watching. particularly if this crisis, in the sense of, you know, this conglomerate being in trouble continues even longer. after the explosion really that was ignited by the hindenburg report. haidi: managing editor for asia global business. this get the vonnie quinn with the first word headlines vonnie: president joe biden says he plans a secret present xi jinping over the downing of a chinese spy balloon. this is to address some of the public uproar over the flying objects.

the says there was no evidence that three other objects shut down -- shot down were surveillance craft. >> we seek competition, not conflict with china. we are not looking for a new cold war. i make no apologize -- i make no apologies. we will compete. vonnie: china is imposing fines and sanctions against lockheed martin and raytheon technologies over weapons sales to taiwan. is adding the two american defense contractors to a list of unreliable entities. is the latest sign of escalations between the two largest economies. with sanctions not expected to affect the operations of either companies. stocks sink as officials consider had to battle inflation. federal reserve officials signal they are open to a 50 basis point increase. warnings come after u.s. producer prices rebounded in january since the most enduring

and jobless claims came in below excitations. georgia state jury investigating election interference by former u.s. president donald trump and his allies says it believes perjury was committed by one or more witnesses. in its final report they concluded that there was no widespread fraud that would have led to overturning biden's win. they say details as to who should be charged will be remained sealed for now. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn this is bloomberg. >> the sec has accused crypto entrepreneur do quan and his company -- guest: the collapse caused a domino effect for other tokens and led to the bankruptcy of other firms. notably of ftx. for the fcc -- for the sec to

file these claims seems to be an escalation. they allege that they offered and sold registered securities including a stale -- stablecoin and carried out to eight fraudulent scheme that wiped out a -- a fraudulence team that whipped out billions of dollars. if he go to the highlights of this case, the stablecoin was supposed to maintain a one-to-one peg with the u.s. dollar through an experimental algorithm and its sister coin luna. that failed last may and triggered a massive selloff. terra labs wind contacted -- when contacted by bloomberg have claimed not to see the suit. they do have a comment. prosecutors out of manhattan are

investigating terra labs in a potential criminal action. we hear from sources that the cftc is also said to be investigating. >> how does this suit, that we see with crypto being one step further and wider implications for others? guest: it is very important because the sec suit lays the groundwork of establishing a regulatory body, the key overseer of wall street, as having jurisdiction for crypto. they had been struggling with this for months. the domino effect that we saw after the terra luna collapse in really accelerated their efforts. high-profile funds such as three arrows and alameda research and sam bankman-fried's ftx facing criminal fraud charges. all of this ended up in

bankruptcy and raised questions as to where is the enforcement? where is the oversight? this lawsuit goes a long way as putting the sec as a primary regulator in some of the arguments they make over stablecoins in clearly extending into crypto. if we look at the crypto trajectory of the past couple of years, bitcoin the largest traded crypto going. what happened in may really plunged it into crypto winter and has taken into the last month to dig its way out of the hole created. for the first time bitcoin a back above 25,000, pulling back a bit with this news. >> bloomberg's su keenan with the latest. as dollar bonds are rising, adani group saying it would be tackling maturities. bonds jumping the most on record after they said they would be addressing upcoming debt.

the dollar bonds are leading the gains, climbing almost two cents. it has seemed that jump, the green energy bonds jumping. businesses stretching from ports to renewable energy that have tapped traditional bond buyers for more than 8 billion dollars in recent years. there is a lot of skepticism about this empire. bloomberg here's adani has already hired banks to set up meetings with fixed income investors. this is bloomberg. ♪ t lost in investment research. introducing j.p. morgan personal advisors. -hey david connect with an advisor to create your personalized plan. -let's find the right investments for your goals okay, great. j.p. morgan wealth management.

>> as i've said since the beginning of my administration. we seek competition, not conflict with china. we are not looking for a new cold war. i make no apologize -- i make no apologies and we will compete. >> president biden defending the shooting down earlier this month of the suspected chinese spy balloon. saying he wants to speak with president xi directly. earlier we saw them questioning if the u.s. genuinely saw to repair ties. we're joined now from washington, kristen, great to have you with us. sharpening its rhetoric yet we

see the latest sanctions against of the likes of raytheon and lockheed martin. these are sanction companies that are now being put on the restricted entities list. we know that it is almost immaterial when it comes to the business impact. does that tell you it is a nuanced response we are getting from beijing? guest: yes, certainly. this is a signal, chines -- china's means for retaliation a relatively minted. -- limited. it involves diplomatic action such as statements condemning u.s. actions shooting down the balloon. emphasizing beijing is responding to surveillance or broadly. the chinese have complained about for years, beyond these lower-level economic sanctions you might see potential delays of high little -- high level meetings. we saw today, the statement of

warning that a conversation in munich when a happen if the nine states continues to escalate the situation -- united states continues to escalate this duration. this is in response to the resolution condemning china's action for the balloon. haidi: how damaging was this incident? for a while it seemed like a bit of a sideshow, particularly with the subsequent real objects shot down that president biden pointed out there was no indication from intelligence that they have any indication -- connection to foreign surveillance aircraft at all. is this something the two parties can move beyond to be able to establish will keep talking about as a grown rut -- up rivalry with drug rails? -- rails? guest: xi jinping is likely facing a rate deal of domestic

pressure to not look too conciliatory or week when it comes to the u.s.. is also facing a domestic environment in china where there is slower economic growth. that is one of the key pillars of the legitimacy. the economy in china grew by 2% in 2022, far below the government's target. is partially due to the zero covid policy. i do think given this, reviving china's economic growth is one of the primary concerns of xi jinping. to do that beijing needs a stable relationship with the united states. there are also economic opportunities that beijing would likely want to take advantage of. such as the upcoming summit hosted by the united states. that xi jinping would presumably wish to attend. >> what can we expect from the munich conference given what you

are telling us about the domestic side of things with beijing? can we expect any breakthroughs? guest: i think while there might be a conversation between secretary of state lincoln and the minister of foreign affairs, this would not produce major breakthrough relations. it would serve the signal washington remains committed to stabilize the relationship and keeping channels of communication open. maintaining high levels of negation -- communication as present biden stated this afternoon. from the chinese side, objectives would be to reiterate the position on surveillance operations as well as its intent. than to use the dialogue as an opening to potentially pave the way for future high-level engagement to get the u.s. china relationship back on a stable footing. haidi: when will that happen? time continues to go on. we are headed towards the 2024

presidential election and campaigning as well. is the most we can hope for in the u.s. china relationship just to stop escalating tensions? what is a positive here? guest: i think, beyond stopping to escalate tensions there is an opportunity for dialogue and cooperation on things like climate change. the economy, economic relations. i would say this crisis has followed a pattern we sometimes see in u.s. china relationships. there are events we have to let tensions run their course until both sides see an opportunity to thaw and then more opportunity for dialogue and substantive issues. an example is the biden and xi conversation in bali over chinese redlines. several months after the chinese military responded to speaker pelosi visit to taiwan.

there is an opportunity for that engagement and dialogue. haidi: good to have you with us. be sure to turn -- tune into bloomberg radio we get more big newsmakers on that shows. getting analysis from the daybreak team is welcome you can see them broadcasting live from our studio in hong kong. stay with us. ♪ oh booking.com, ♪ i'm going to somewhere, anywhere. ♪ ♪ a beach house, a treehouse, ♪ ♪ honestly i don't care ♪ find the perfect vacation rental for you booking.com, booking. yeah. introducing the new sleep number climate360 smart bed. only smart bed in the world that actively cools, warms, booking. and effortlessly responds to both of you.

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>> a quick check of the latest business headlines. bank of america cutting jobs in the investment bank, one of the last major holdouts in the finance industry to bow to immense pressure. it could affect less than 200 bankers globally. a decline in takeovers of stock and debt, has hit these will inflation raised costs. airbus is back to deliver more planes this year after a report shows projections and 2022. the playmaker will excel a brain -- will accelerate -- the playmaker will accelerate -- handing over 720 aircraft this year. >> we see a strong demand for traffic of passengers around the world. there was a strong demand for cargo during covid. the return to good times is accelerating.

the opening of china contribute into the level -- contribute into the global demand of the sector and it is a market where demand a stronger than supply. >> it may offer a good entry point for investors to see the upcoming national people's congress to recharge the next leg of the reopening rally. we have seen chinese stocks really hitting that stumbling block. is the outlook at least more optimistic? >> good morning. chinese shares have been suffering this month. is only natural for markets after a massive rally from the end of october to the end of january. most people seem to think the big picture has not really changed much. the economy will sell --

accelerate from here, and that will make corporate earnings go up. the upcoming national people's congress is the biggest focus of the moment. if the chinese authorities come up with more stimulus measures as many investors expect that could trigger another rally in chinese shares. >> what kind of stimulus measures are markets expecting at this point? guest: yes, one focus i think is new energy cars. the sales of which has fallen quite sharply in january after the subsidies expired at the end of last year. investors are looking for subsidies to the sectors. people are expecting more subsidies that things like home appliances.

local government finances are in trouble because of the property crisis. investors do expect central government to shore up the transfer of finance to local governments. haidi: how much do investors care about you applicable tensions? is a relationship between the u.s. and china night -- right now the new normal? guest: yes. we have the news of the chinese government impose sanctions. the interesting thing is, the chinese yen did not rely -- react as well. when you look at the shares in new york they did better. it clearly shows that investors took that news in stride. it basically is like, we are starting to live with the new normal. covid.

the markets have come immune to those news. haidi: all the stocks we are watching ahead of markets opening in hong kong and china. they could face pressure after they have been unable to contact her ceo. beijing will be scrutinizing to ensure that data re-technology is not shared. we get software reporting like lenovo, and tech stocks in focus , could be following the overseas lul. fed officials saying they consider 50 basis points hikes back on the table. this is bloomberg. ♪

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so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo and taking release, i've gone from a size 12 to a 4. before golo, i was hungry all the time and constantly thinking about food. after taking release, that stopped. with release, i didn't feel that hunger that comes with dieting. which made the golo plan really easy to stick to. since starting golo and release, i have dropped seven pant sizes and i've kept it off. golo is real, our customers are real, and our success stories are real. why not give it a try? - this is "the more you know" like you've never seen it before. - these are real talks... - real experiences... - used to spark real action. - join me and others... - as we get personal about making an impact.

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