>> swiss prosecutors launch an investigation into video. >> former u.s. president donald trump set to plead not guilty in manhattan court this week to face criminal charges. u.s. futures online in the asian session to the downside after we had the s&p 500 gaining ground, the best week since november. but, right now going to wti prices. the first reaction when it comes to that surprise announcement of opec-plus in order to cut oil output. we are seeing this jump after a 9% gain already last week.

we were expecting perhaps supplies to get tighter by the end of the year already. this is really sending the markets, reacting to their shock decision of cutting production by a combined more than one million barrels per day. saudi arabia, the bulk of the cuts, 500,000. riyadh is saying that is really needed for the stability of the oil market, but it's not sitting well with the white house that has already said it was ill-advised given current market environments. they will actually be looking at gasoline prices for americans. we are seeing reaction in currency. look at the fx space. we are seeing currency markets really leaning towards commodities gaining ground. we are talking about the norwegian krone leading the gains. the aussie dollar spiked earlier. it is slightly steadier at the 66 u.s. cents level. japanese the -- the japanese yen

is losing ground given boj policy. the fact that japan is a big oil importer it's not sitting well when it comes to the oil price gains we are seeing globally with that surprise cut from opec-plus. haidi: yes, that will be front and center. we imagine risk assets will get off to a pretty shaky start when it comes to the new trading month on account of the shock from opec-plus in sydney. we will be watching with reaction when it comes to oil majors, woodside and santos will be in heavy focus today. sydney futures up by .6%. fair valley suggesting an earlier gain of about .5%. really extending on those gains. we had a full week of the winning streak when it comes to sydney stocks. it looks set to continue. the aussie dollar is trading a little softer at just under 67 u.s. cents at the moment. kiwi stocks pretty flat. brent crude jumping. just 7% after we saw opec-plus'

surprise output cut. heading into a historically strong month for global stocks. i will be very keen to see how the calculus of risk changes with the opec move. shery: let's discuss what the surprise moved by opec-plus was. let's bring in su keenan. markets, analyst, traders, even the white house was caught off guard. su: opec-plus pledge repeatedly to hold output steady and as recently as friday to look at dedicated privately there would be no change. so, the announcement sunday, it is unprecedented that it comes before tomorrow's monitoring committee meeting. that really knocked a lot of people back on their feet. it is a one million barrel per day production cut to take effect in may. the saudi's lead the cartel with their own 500 euro per day -- 500,000 arrow per day supply

reduction. but members are contributing. look at the price charts. as you said, wti closed above the $75.5 mark since friday. it had been on an upswing. but as soon as asian trading it shot up some 8%. that's an indication of the surprise move here and the upward trend that has now put oil, in the wake of all the bank turmoil, we saw oil prices swoon to a 15 month low. as a stocks in the market have come back from bank concerns we have seen oil on the rebound. nevertheless, this is really a shot in the arm. the price action. there are analysts who say opec-plus clearly wants a higher oil price. one veteran analyst said the group is following through on being proactive and ahead of the curve, trying to rip oil prices from the grip of growth sentiment. which is about -- of macro

sentiment about a demand being flat. that will keep prices lower while they push everything into high gear here. haidi: we have seen political reaction so far? su: the white house is out saying this was ill-advised. of course, the thinking of many analysts and market watchers is tensions between the saudi's and the biden which were already very uneasy, are early probably going to ratchet up higher here. the white house is believing this is ill-advised given the uncertainty of the market. there is real concern by the biden administration on inflation. it feeds right into that. the white house said the new cuts will cause the biden administration to continue to work with oil producers and consumers with a focus on gas prices. note, the initial impact of the cuts would start next month. that would add up to just over one million barrels per day, 1.1 million per day.

and from july on, through the extension of the existing russian supply reduction there would be 1.6 billion barrels per day less of crude on the market that many were expecting. this is an event traders, analysts, and others will be reacting to in days to come. haidi: let's bring in chief rates correspondent for asia garfield reynolds. how are you processing the implications for risk assets for broader markets and policymakers if it creates an inflationary push, as expected? garfield: i think it is definitely adding to some of the concerns that markets have gotten ahead of themselves in pricing for policymakers, particularly,, the federal reserve, to switch rapidly to rate cuts. this in some ways, brings forward some expectations for both supply and also for price.

that the market had for later on in the year two get to more immediate. so, i think once the initial shock fades, you mentioned all of the factors that help add to the shock. i think then you will see oil come back down a bit. i think it's noticeable. at least so far, you have treasury futures. they are only down modestly. about 1/8 this morning. the aussie dollar, commodity currency jumped early. but it's back to flat. so, looking longer-term, the implications might not be that strong. but, short-term, it is hitting a situation where everyone was selling the narrative inflation will come down rapidly. and, therefore, the fed can afford to stop hiking rates and even consider certain cutting. if it proves inflation comes down fast. part of the reason it is coming

down fast is because unemployment is going up and activity is slowing. so, that is a key narrative for risk assets and bonds that was a shock this morning. we will see how serious the ripples are from the shock. as the day and the week goes on. haidi: we have seen the vix volatility index 20 again. we have to watch the bond space so closely because we continue to see wild swings in rate expectations, and rallies in haven assets as well. orfield: yes. treasuries are an on asset class at the moment because they are seen as a safe haven, and they are also the most volatile of the major assets, perhaps, outside oil. when you look at currency volatility and equity volatility on a relative basis, you look at how they are going relative to

their history. those are quite low. but, if you look at both the overall move index for treasuries, expected swings, that is still very high. there is still plenty of concern. if you look at under the service at swaptions, two year yields are still seen gyrating in a way only seen in 2008. relative to the 10 year yield also, the highest since 2008. the 10 year swaptions are also pretty elevated. there is a lot of nervousness in the bond market. in some ways that is to be expected, but it still has to be a concern to all investors really. because, the fed policy, it is the most aggressive fed hike in a generation. the question is, do they stop? how much damage will it end up doing to the economy as a

result? most of that is being directly transmitted by the bond market. the bond market is obviously still very nervous and has the capacity to transmit a lot more turmoil to the rest of global asset classes. haidi: bloomberg's chief rates correspondent for asia and live contributor garfield reynolds there. i mentioned the rally in recent months. it has been a strong month already. emerging market assets saw the first quarterly back to back games since at least a year. april could be even better, especially for global stocks. historically it has been the best month for global stocks. we cannot forget last year. we saw an 8% plunge. but historically speaking usually a gain of an average 2.25%. this is when you look at 30 years of data. so, what it really means, as we

continue to get bond volatility, what it means in the stock market will also be key as we watched risk assets. haidi: what mentions in terms of heart far -- how far ahead the market has already run ahead of fed expectations and pause expectations and now we have this decision from opec-plus. look at april -- in a pack i should say, in this part -- part of the world it is typically the second-best best month historically after december. look at the areas that perform best. the market is clearly the outperformer. the kospi, the jci. southeast asia as a cohort does better than northeast asia if you are looking for, in particular, places that see extreme strength in april. but of course, a lot remains to be seen. it is looking like a testy start with the opec-plus announcement. let's get to vonnie quinn with first word headlines. vonnie: ubs will reportedly cut as much as 30% of staff after

completing its takeover of credit suisse. a swiss newspaper says the move could affect 11,000 workers in switzerland plus 25,000 more worldwide. a separate development, swiss prosecutors opened an investigation into the deal. i want to identify possible crimes leading up to the credit suisse collapse. former u.s. president donald trump is planning to plead not guilty to charges stemming from his hush money payment to a porn star during the 2016 election campaign. his lawyer told cnn the payments were previously investigated by the federal election commission and justice department and they found no violations. trump will be arraigned in new york tuesday. beijing is launching a cybersecurity review of imports from micron, america's largest chip taker. the chinese government wants to ensure the integrity of its information infrastructure supply chain citing national security concerns. the latest offensive in the chipboard between the world top two economies.

11% of micron sales come from mainland china. finish prime minister lost a close parliamentary election to a pro-business opposition. official figures show that the social democrats felt third place behind the far right fence party. --finn's party. the party leader declared -- the party leader orpo declared victory but will have to work with one other block. >> i think that the finnish people watch chain -- change. i will open negotiation with all parties. i have one crucial issue and it's the economy. we have to fix the economy. we have to do reforms to boost our economy. vonnie: global news 24 hours a day on air and on bloomberg quick take . >> taiwan's president has just arrived.

it is coming, she was going on a tour of central america at the moment, especially with the last two remaining allies that recognize taiwanese sovereignty trying to shore up ties during the trip. she framed the trip as a chance to show taiwanese commitment to democratic values. this city is on the eastern coast of central america. tsai ing-wen coming from a visit to matamela special -- to guatemala expected to pass through los angeles later this week where she is set to meet house speaker kevin mccarthy. haidi: geopolitics is continuing to be in focus with this trip. ahead, we get a view from a former u.s. prosecutor on how donald trump's indictment in new york could impact other legal cases he is facing. first, zuma wealth joins us on where to find the best value in

the u.s. and international markets. this is bloomberg. ♪

shery: you are watching daybreak australia. in the week ahead french president emmanuel macron is expected to travel to china with european commission president ursula von der leyen to help push beijing to end russia's war in ukraine. charlie: and on friday we get a

u.s. jobs report. economists expect u.s. hiring to slow. in a week before the annual spring ims meetings we get new cpi pranced from several asia pacific economies. inflation is showing signs of cooling in thailand, indonesia, and the philippines. watching for other eco-releases. japanese marked pmi numbers as well as the boj survey. that is your week ahead. shery: oil prices surging after a surprise announcement by

opec-plus when it comes to cutting oil production by more than one billion barrels per day on top of a weekly gain of 9% last week because we already had disruptions to exports from iraq. there is pressure on u.s. futures has markets digest all this. haidi: let's look at how investors are finding themselves positioned given the shock announcement from opec-plus. zuma wealth founder and ceo terri spath joins us. how much does this change the calculations when it comes to the markets perhaps having gotten ahead of themselves, expecting the fed and other central banks to either pause or pivot? terri: sure. i think that is the question we are all weighing now after this surprise announcement. we were out surprised as you were, haidi and shery about this announcement out of opec. what are the implications? there are a few. first it will push oil prices

higher. it will be inflationary. we think this means more pressure on the dollar. it also means that as we continue to be constructive on the energy sector broadly, this has been one of our calls for 2023. it has not worked out so far this year. but, it continues to be, for a number of reasons, one of our top calls. i think this is one of the reasons and we will stand by that one going forward. her are some other implications too of this. it will impact, what does it mean for the u.s. stock market? for international stocks? for inflation? we have some opinions on that too that we would be happy to talk about. haidi: look at the price options. we have already reached consensus on analyst price assumption for this year. it's looking a little conservative. look at this chart. 2023 consistent cash consensus forecast is $80 a barrel.

goldman raised their forecast to $95 for 2025. does the bullishness in oil prices make you reassess opportunities in the energy sector? terri: sure it does. before the announcement, oil prices had dipped to about a five month low. obviously, this will push oil prices higher. this is obviously good for energy names. it does not change from marv -- from -- some of our other cc. theses. we are constructive on the u.s. stock market and even more constructive on international stocks as a value play. despite the inflationary pressures when you raise oil prices, when you cut demand, it raises prices, it increases inflation. that is not great from the fed's point of view. they have been very focused on inflation. but, we stand by our view that

the fed will actually have to cut interest rates this year because they have been so aggressive until as recently as their most recent meeting. and, that will have unknown consequences on the economy as well as known consequences. so, i guess, in conclusion what we are seeing is that the rise in oil prices is yes, inflationary. yes, it suggests the fed will keep raising rates. but we think that pressures on the economy from the rate increases will have a flip effect towards the end of the year. >> the expectation that the fed will blink has sent markets to a frenzy. we have seen a rally. a lot of it is forcing a rotation into defensive's and growth stocks given what has happened with the banking sector, given this very narrow focused rally, how important is it for you to keep investing in the market, to see more sectors participating in the gains? terri: right. i do think that you always want

to buy cheap. you always want to buy value. i think some of the rotation we have seen during march, march madness here is a huge basketball thing in the u.s. that is dominating the headlines and sports pages recently. there has been march madness in the markets. the first half of the month was terrible. the second half was great. a couple weeks does not make a trend, in our view. as far as the u.s. stock market, we remain somewhat cautious. it's the international markets where we urge your viewers to make sure they are not underweight. that is an area that has been underweight in morse -- most portfolios. it is a deeper value, a safer play, it is higher income and for all those reasons, we want to emphasize that international exposure, not just u.s. exposure, is where you can have a safer gain in 2023.

shery: we have seen international. you continue to talk about international stocks. where would you invest? european stocks really outperformed the past quarter. terri: they have and we think that will continue. not necessarily emerging markets. not domestic u.s.. but international developed stocks. why is that? a couple reasons. we are expecting the dollar to be weaker. more importantly, that is an asset class that has been hit so much harder, that was hit so much harder in 2022 valuations got to levels that were too cheap to ignore for many investors. this is why you started seeing people sniffing around and those started to move up area there is -- up. there is plenty of room for that to move in 2023. haidi: terri spath zuma wealth

founder and ceo. good to have you back. this is bloomberg.

haidi: a look at reaction across crude prices in asia. the first chance to react after the shock of the one million barrel cut announcement from opec-plus. it's being repriced now as a new inflation risk leaving the cartel with its own 500,000 supply reduction. the white house said the move is ill-advised. brent crude over 57 percent higher. new york traded crude up by about 7.25%. more is to come on daybreak australia. when i was his age, we had to be inside to watch live sports. but with xfinity, we get the fastest mobile service and can stream down the street or around the block! hey, can you be less sister, more car? all right, let's get this over with. switch to xfinity mobile and get the best price for 2 lines of unlimited.

just $30 a line per month. i should get paid more for this. you get paid when you win. from xfinity. home of the 10g network.

>> people are rushing to judgment without facts. this is looked at by the country

at large as politicized justice. >> this is just the appetizer. biggest of is to come. >> this plays into the victim already plates from the bottom of every debt. >> trump is brilliant at playing the martyr. he loves publicity and he has the mother load now. >> it causes more trump fatigue in the country generally and helps desantis. that's part of his pitch. >> from has a better chance of winning the nomination. >> the markets will have to contend with the fact the guy could be president again. >> i think he wins the nomination but loses the general election. >> weighing in on the criminal case against former u.s. president donald trump area president trump is playing to plead not guilty to charges stemming from his hush money payment to a star during his 2020 -- 2016 election campaign. even if he beats charges, the fact he is facing charges makes it more difficult for him to defend himself in criminal cases

elsewhere. the former federal prosecutor joins us now from chicago. you have defended clients in the past that face challenges in multiple jurisdictions at the same time. walk us through how that could not bode well for the president. >> it is very challenging to face multiple criminal charges at once. you know, when you are facing one criminal case, you can focus on doing whatever it takes to win that case. just as the prosecutors are doing. they will be focused like a laser in manhattan on convicting the former president, donald trump. donald trump's lawyers will have to not only focus on what arguments will best help them in that case, what evidence they need down in that case, but every decision they make will impact other cases. there is a case coming in fulton county georgia he will face.

there are multiple department of justice investigations, both for january 6 and mar-a-lago classified documents. ultimately, his lawyers have to think about what will help his defense most in all those cases that the same time. there are ways in which, for example, his testimony in one case can be used against him in another. and arguments, the defenses he uses in one case could be used in another. it's a very challenging path forward for his legal team. what sort of strategy could his legal team employ in this situation? what's usually what i try to do when my clients are facing a battle on multiple fronts is to try to pick the weakest case and speed it up yet we know the former president likes to delay legal proceedings. many are predicting he will do that in manhattan. one danger for him is this is the weakest of the cases, so what might happen is some of the other cases to go first. usually what you want to do is

make your first case your weakest case and then hope to get a resolution with the other cases. one of the hard things in his situation is he has to run the table. if he gets convicted anywhere, you have to believe that will have some impact on whether his political ambitions for his financial situation. it is a challenge to be facing a war on multiple fronts, like r. kelly was, harvey weinstein, michael evan already --avena tti, many before him. haidi: some of the staunchest critics of the president have criticized the flimsy nature of the indictment. are you waiting to see details before you pass judgment here? >> right. i am one of the people that has raised questions about the indictment. but i have not seen it yet. so i encourage everyone watching, if you are making, that say, investment decisions based on this, i would be very

careful and take with a grain of salt anyone who has very strong opinions about an indictment they have not yet read. but i have questions about it. on its face it seems like the weakest case. of the ones i have outlined. if it is a campaign-finance case i think that would be very challenging. that poses a lot of questions. a tax case might be easier. further government, it might be stronger. nonetheless, i think there are legal hurdles, unsettled questions i had for the manhattan das office. they are relying on at least one witness, michael cohen, a convicted fraudster and lawyer. but we don't know the evidence that the government has and that is why i am taking a measured approach. haidi: we know that charges or conviction does not prevent the former president from running in 2024.

it might not prevent him from serving another term of presidency. we know that donald trump tends to thrive in these grievance driven narratives and environment. -- environments. look at the fundraising going on now. strategically as a legal counsel or prosecutor, was there a stronger way to go about this? was there a stronger case than the plethora he is actually facing here? >> i think the strongest case for prosecutors is of the mar-a-lago documents case. one of the challenges of white-collar fraud cases is you have to prove the defendant's state of mind. donald trump has a rather complicated state of mind. but with the documents cases, a narcotic case, for example, if somebody has cocaine or heroin and they are pretty much guilty. in the documents case, the former president possessed count -- classified documents and there is no real question he knew the government wanted the documents back.

the federal government sent him letters. they sent him a grand jury subpoena. they personally visited him in mar-a-lago. he held onto the documents anyway. it really looks like there may have been obstruction of justice there. there is a very intense investigation of obstruction of justice in that probe. i think that is the strongest case for prosecutors. in the united states, i have all of the prosecutors meet and make a decision about which case goes first or which cases can proceed or not proceed. the federal government really has no control over what, for example, the manhattan district attorney does. so the former president has to face all these at the same time. that's why i am mentioning other cases. i think everybody making decisions based on this has to be cautious. this is just the first case, but it may very well not be the last. >> with all the other criminal proceedings, and perhaps, other charges that could be stronger,

what happens for 2024? a former president running again for reelection. does that bar him from running? are there any implications if he were to be elected for his presidency? >> great questions. as a legal matter, the criminal actions do not bar him from running. i think it is safe to say that if he wants to come and he will be able to delay the trials in these cases until after 2024. i am not an expert on how voters will respond to this, but i will say that it would generate unprecedented legal issues if the president of the united states was facing criminal charges here. that would be very problematic. to have another level of state government trying to imprison him. another branch of government commits the judiciary trying to punish them. very problematic. i don't know how voters would react to multiple criminal cases.

i think if somebody is trying to forecast ahead i think it is safe to say the former president will face at least two indictments. i do not think the fulton county score person played their cards very close to the vest. it looks like she and her colleagues recommended charges and i would expect charges in fulton county. it would not be surprising if there were charges from the doj. i think those charges will be pending during the course of the 2024 campaign. haidi: with the complication of multiple cases at the moment, i am wondering how mr. trump's counsel will be dealing with this. are they looking at it in its totality? and the various legal counsels on the prosecution's side, are they communicating with each other, or, being mindful of how each case will impact all of the others? >> great question. the prosecutors are certainly coordinating with each other. they are not telling each other

what to do. they do not have authority over each other, but there will be communication and coordination. on the defense side you try to pursue this one of two ways. one, to try to reach what i call global resolution. when you try to plead guilty to one place in -- case in the most favorable jurisdiction or with a judge you think would give you the best sentence. essentially you try to convince prosecutors from other jurisdictions to let their cases go. and have all of the conduct considered by one judge. that is often the best route if you have a client that is willing to acknowledge guilt in at least one of the cases. but i do not expect to the former president to do that. another strategy is to deliberately speed up certain cases you think are more favorable and slow down the others. that is very easy to do here on the defense side. i think this would require the former president to consider having a trial before the 2024 election. i think likely his strategy will

just be to delay all them -- all of them until after the election. but he has to win. if he loses the election, either the primary or the general election, he will still have to face these charges. at least some of them are very concerning for him. it's always a challenge to defeat the government in a criminal prosecution. haidi: renato mariotti, a former federal prosecutor there. let's get the first word headlines with vonnie quinn. vonnie: opec-plus announced cutting one million barrels a day from next month, despite previous assurances it would hold supply steady. the price reduction could add to inflationary pressure across the world or think central banks to keep interest rates higher for longer encrypting economic growth. the white house called the new cuts ill-advised. a bipartisan group of u.s. lawmakers are taking concerns

about china to california. a new house panel focused on china is planning to meet with the disney ceo and the apple chief tim cook looking at how the chinese communist party influences different parts of american society. they would meet with taiwan's president as she returns from a trip to central america. china is ready to work with malaysia and other southeast asian nations to speed up a south china sea code of conduct. beijing is prepared to collaborate and jointly maintaining police and stability in the area. china has been working for nearly 20 years to establish a code of conduct for the disputed body of water. pakistan's inflation quickened by a record in march with higher taxes and energy prices. consumer prices rose more than 35% from a year ago. the latest print may bolster the case for the state bank of pakistan to raise its key interest rate tuesday.

they increased at last month to 300 basis points, by 20%. global news 24 hours a day on air and on bloomberg quick take powered by more than 2700 journalists and anaylsts in over 120 countries. shery: oil gaining more than 7% for wti prices after the surprise announcement by opec-plus that they would be cutting production of more than one million barrels per day. this is adding to the weekly gain of 9% already last week after we saw export disruptions from iraq. we already thought supply looked tight for the later half of the year. it does not help the inflationary outlook. u.s. futures continue to be pressured. haidi: we are seeing the opec-plus news play out when it comes to the fx landscape as well. the norwegian krone leading gains across the complex in terms of commodities. fx up by .5% after losing about 6% in the first quarter.

we are watching the aussie dollar pretty flat at the moment. the canadian dollar is also seeing some appreciation on the back of the news. also weakness when it comes to the yen, japan is a major oil importer. falling in response to the opec-plus production cut news. dollar-yen came off the first weekly increase after a four week decline for that last quarter. the dollar is up about 1.3 percent. continue to watch that. there is much more to come on daybreak australia. this is bloomberg.

shery: boston fed president susan collins says the latest fed data has not materially changed her policy outlook. she thinks there is more work to do to keep prices in check. she spoke in an exclusive interview with bloomberg's michael mckee. >> starting with pce inflation, it is about what was expected. so, that is some positive news. at the same time, let me say two things. one, the monthly data is really noisy. we have seen that. one month of a move in a more helpful direction is not something that really indicates sustained change. the other thing i will say is

that if you, recognizing the high, the elevated numbers we saw in december and in january, there is this a bit lower number than expected and it means the three-month average is about what the 12 month average is. that's not a lot of progress. we still have more work to do and more to see to know that inflation is really on a sustained downward path. >> you are on record as saying you favor at least one more moved by the fed. does this log it in for may? that you do it because inflation is still at a high level and you don't pause for a months to see how things are going? >> what i think i am on record as saying is i am highly data dependent. so, my assessment at the last meeting, just last week, with the summary of economic projections, did suggest an additional rate hike. then, pausing and holding over the year. i need to assess all of the data that will come in between now

and our next meeting in early may. and, where i am at the moment. the new data i have seen in the past week has not materially changed how i am thinking about things. i do not make a decision this far in advance about what i think is right to do. >> markets are pricing in four rate cuts this year. our traders crazy? >> -- are traders crazy? >> there is a range of views about these kind of things. inflation is really too high. when we talk about price stability, to me that means a level of low, stable inflation. everybody is thinking about inflation and it really does mean that we have more work to do. history has told us that you need to have conditions sufficiently tight and then really hold of the course to know that you have, in a sustainable way, gotten inflation going back to the target.

>> spending was decelerated significantly in february according to this report. do you worry about going too far and tipping the country into recession? that is the standard view of what the fed does. >> it is absolutely a balance. i think it's important to recognize that there are uncertainties. there are risks. in particular, we need to balance the risk that we do not do enough. that we are a sustained and we do not hold the course. and we do not bring inflation down. as i mentioned before, inflation is really costly to businesses and households. so that's important. at the same time you are absolutely right. i do monitor the data looking at when we might see the economy turning. some of the slower data, i think, is helpful in that context. it is what we would hope to see. at the same time, early days in

terms of assessing whether we really have gone as far as we need to go. >> boston fed president susan collins there. tune into bloomberg radio. hear more from the days big newsmakers and get in-depth analysis from the daybreak team broadcasting live from our studio in hong kong. lessing in via dop, radio plus or bloombergradio.com. there is much more ahead. this is bloomberg.

shery: airspace is building south korea's first commercial rocket with an ambitious target, matching spacex in price in the next decade. the company is part of a 71-year-old conglomerate that started out as an explosives maker. the senior executive vp told us their goal is to eventually half launch prices by 2032. >> some people what essay hundreds of tilt -- hundreds of billions of dollars in 10 years or trillions of dollars. you know what percentage of market share we have now? infinitely close to zero. we want that to be much bigger. we have built a solid foundation in key areas of the space sector. like the rocket business,

munication's satellites, antennas, low earth optimization. we intend to grow each business to become a living company in each respective sector. we will keep looking for opportunities. the industry is evolving. at every stage of evolution, there is a new era of space. >> we are looking at five or 10 years. how would you compete with spacex? will that be your big competitor? >> we do not expect to catch up right away, even in 10 years. so, spacex, i believe, that's the main leader for the time being. eventually, they will not keep improving at the current pace. >> you see trends developing.

will you be using reusable boosters perhaps here? how do they figure in? you don't have those yet. >> yes, reusability is a critical component to reducing cost. we are definitely thinking about that. maybe, the next generation may not have the capability. but, the next one after that must have that. so, in conjunction with the korean government program here, developing, or at least considering developing reusable technology. >> we had this recent relatively -- relativity space launch that did not go too well. nearly 90% of it they did with 3d printing. how interested are you in that? >> very much. we are looking closely at the company. >> how much would this technology bring down your cost, the key part of this?

>> editing and manufacturing? >> 3d printing. >> it is a combination of technology and scale. combine the two. 10%-20%. so eventually, we have to bring it down to the spacex level. >> senior executive vp speaking to bloomberg. here is a quick check of the latest business flash headlines. tesla delivered a record 422,875 cars in the first quarter meeting analyst expectations. the automaker slashed prices earlier this year to appeal to consumers affected by rising interest rates and faster inflation. the company produced 440,808 vehicles this year, also exceeding analyst estimates. ever group is nearing a deal to acquire world wrestling entertainment. according to our sources at the

entertainment conglomerate could announce the deal soon. bloomberg reported in february that wwe's executive chairman vince mcmahon was looking to get $9 billion for the company. w w e shares gained 33% this year giving it a value of about $7 billion. that is it for daybreak australia. haidi: but, daybreak asia is next. you are not done with us yet. much more to come including continuing to take a look at the fallout as asia wakes up and reactions we continue to see when it comes to the shock announcement to cut output at opec-plus. this is bloomberg. this is bloomberg.

go. go scientist. go software. go cure. go production. go faster and safer. emerson automation software helps breakthrough medicines get to market at warp speed. go human go. go boldly. emerson.

as a business owner, your bottom line ge is always top of mind.ed. 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 75% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities™. 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. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today.

♪ shery: