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>> good morning. welcome today daybreak australia. i'm heidi rob what's in australia. shery: from new york, i am shery ahn. investors are bracing for a big week for central banks including a potentially hawkish pause by the fed. ma carrots -- markets are on watch for what chair powell could say. the ecb may keep hiking while the doj is on hold. the pboc could cut its key rate in days. goldman sachs cuts the forecast for brent. look at how u.s. futures are coming online in the asian session after the s&p 500 inched further into the bull market territory. a gain of more than 20 percent from october. we are talking about the august peak of last year, around the 4300 level. technology resuming the climb

further up, seeing upside from that sector as well. with mega cap giants. we have been talking about what might happen today for the fomc rate decision and perhaps expectations that the fed could pause tightening. treasury yields gaining ground across the board. the 10 year around 373 after we had unexpected rate hikes from canada and australia last week. now, we are looking ahead to this week's fomc meeting at a time when the dollar has also been under pressure, down for a second consecutive week. it has not necessarily helped oil prices, at least. haidi:s it is uncertainty of the global outlook and the plethora of central bank decisions on tap this week causing continued jitters in oil. it has been a continuation of the flip-flop of oil trading continuing.

futures up after advancing by pretty much the same amount, the constant struggle for sustained momentum there. new york crude a little softer at the moment. brent crude just under $75 per barrel. goldman slashing their crude outlook seeing brent trading below $90 by the end of the year. these shocks from surprise production cuts from both opec-plus and saudi arabia are not affecting futures trading that much. we have seen futures down about 13% this year. it's really the ongoing concern about broader macroeconomic weakness, slowness out of the next leg of the rebound from china. certainly it's a big week for oil markets. we have monthly reports coming up as well. let's get you caught up with the rest of the first world -- first word headlines. body: the former scottish minister nicola sturgeon released without charge after being arrested in a party finance investigation. she was questioned by detectives

for several hours sunday. an inquiry into the scottish national party finances are looking at whether donations for the scottish independence campaign were used for other purposes. the white house acknowledged china has spy bases in cuba. the facilities have been in place for years and were expanded during the trump administration. the bases would allow china to eavesdrop on electronic communications at throughout the southeastern united states. malaysia woos investment from microsoft and alphabet in a drive to be a data hub. the trade minister says his country can be a neutral supply chain base as the region deals with u.s. china tensions. already this year malaysia attracted investments from tesla and amazon. >> we are attracting as many as we can. alphabet, microsoft. we are slowly establishing ourselves as the center, the

data center hub. many are here. amazon and others as well. we have announced they are coming here in a big way. >> guest: --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. haidi: bloomberg opinion conference mohamed el-erian expects a skip this month followed by a rate hike in july. he says the expectation on unemployment has been mystic. >> --mohamed: they have been too pessimistic on the unemployment rate and i think they will correct that because i do not see us getting to where they think we will get by the end of the year. i think the unemployment rate will be lower. i think with the inflation forecast they will take them up late -- yet again. keep an eye out for wages.

wage growth, depending on what you look at, is getting -- is steady around 5%. that's too high for 2% inflation targets. john: do you expect to the median. to come up in the dot plot wednesday? mohammed: i do. i think they will go there. but i think the press conference will be absolutely the most interesting element of next wednesday. jon: what about the presser is interesting? mohammed build and see where we start from. they have guided the market. atopic fed official guided us to expect a skip. that will make sense if tuesday's inflation data comes in well below forecast. why? because, this is a highly data-dependent sector. having said that, they have not dealt with the larger framing issue. you will not get me to front run my article again. but, there is a larger framing issue that's not being looked

at. so, how they describe that skip that the market expects will be critical. now, if they don't get favorable inflation numbers, they are in a really hard situation. because, they will have to suppress market. so, next week will be absolutely fascinating. tuesday, wednesday will be, probably some of the most interesting 24 hours, little more, 36 hours we have seen for a long time. jon: you said 25 they will hike. i have played fair based on the information so far with cpi still to come. where are you now? mohammed: the market has a probability of a hike next wednesday down around 20%. used to be 70% before they guided us to the skin. the fed has now got to deliver that. it's big hope, everybody's hope, is the inflation data comes in well below the consensus forecast. jon: is that yes to a hike?

mohammed: no. they will skip now and hike after that. jon: july for a hike. haidi: let's bring in our global economics and policy editor kathleen hays. kathleen, a busy week for central banks but let's start with the fed. we are not just talking about a potential hike or pause. talking about the skip. kathleen: the skip. maybe it is just you need a third category when it is so hard to decide after the fed has hyped rates meet -- month after month meeting after meeting for 15 months now. on may 19, this was one of the first -- he did not say skip, but he said very clearly it is time for the fed to pause. he did not say pause though. it can afford to look at the data, make careful assessments. of course, that is after they have done 525 basis points of rate hikes.

the market had been pricing in a hike. so after powell spoke and chris waller the fed governors spoke may 24 and said he thought the fed could take time to assess the data, patrick harker from the philadelphia fed has been arguing ardently for this. raphael bostic says they could definitely pause but if there is another move it will be a hike. he seems to be in that count -- cap as well and tom barker from the richmond fed similarly says he is open to watching the data. the up -- employment report was stronger than what was forecast and now we wait for the cpi report tuesday. they are all open to a pause. now, the hikes are the people that want to go ahead. jim bullard from the st. louis fed, loretta mester from the cleveland fed, neel kashkari from minneapolis, lori logan from dallas. they are concerned more needs to be done. that is why some think there

could be a policy to center two. that is not what fed chair's want to see. we will look at what is in focus, the dot plot, every three months, the summary of economic projections it's revised. from their outlook on gdp, employment, unemployment, and inflation. then they say, this is what we will think rick -- we think rates will do. here the idea is simple. they thought that by the end of this year, the core pce deflator would be down about 3.2%. well, it's a long way from that. gp will probably -- gdp will probably be stronger than expected. inflation higher. there are a lot of things they have to catch up with. so, basically, the guidance at this point will be very important as well. haidi: it is a busy week. ecb, boj, pboc all meeting. kathleen: it is the bank of japan's second meeting.

the first meeting in april there was speculation zero would do a tweak. inflation was higher than forecast. now, our reporting team in tokyo finding out that the boj does not think there is much needed, if any, to tweak yield curve control now. that is the policy that keeps the japanese government bond anchored around 0%. so, throwing cold water on any big policy change, even a minor one. they will probably have to recognize inflation is stronger. they know that as well. so, could they rates their inflation outlook? that's important because they could be taking a step towards a step to eventually doing a tweak. the european central bank. christine lagarde, the president, has been signaling more rate hikes are needed. that is pretty much a done deal. at this meeting, people are saying gardens on further rate

hikes is what they are watching. that's important. the people's bank of china. the economy and the recovery seems to have slowed down, not as strong as expected. so yi gang is expected to reiterate what was said by the government, a stable policy stance. rrr rate not in the boards yet. haidi: kathleen hays there with a preview of all the central bank decisions we are waiting for this week. there is a lot more to come on daybreak australia this morning. this is bloomberg.

♪ haidi: former u.s. president donald trump appears to be holding onto his political base as he heads to court to face federal charges. around 75% of republican voters

view the charges as politically motivated. more details from washington. we have seen this pattern play out when it comes to the previous woes the former president has faced. he has used it in the past, and again now, even in the last few days since the indictment was unsealed in miami he has used it to fund raise. donald trump's brand is basically, as he says at every rally and every turn, i am here to protect you from what he says is the deep state. which is also kind of a synonym for the democrats. and that's what i'm doing here and will keep doing. it is that talk about everybody being out to get him. then it feeds the support he gets from his based. that his base.

it was reflected in the two poles that came out sunday. one of which set only 48% of americans generally, if you take the ball face value think that the -- poll at face value think the indictment was warranted. >> how significant is it his former attorney general thanks the indictment is very damming? tony: william barr has broken with trump over this and other issues over trump's conduct since he was the attorney general. and, a defender of trump including in the probe of his ties to russia. as a long time jurist i think you can say far -- barr has

taken a different view them trump and said the things trump has done with these classified highly sensitive documents were absolutely beyond the pale and donald trump's claims of being victimized for it are absolutely false. shery: it is surprising even president trump's own attorneys might face some challenges in the eyes of the law. we are hearing prosecutors are alleging trump used lawyers in his obstruction effort. tony: that's true and it will surely play out as case moves forward. it also involves an indictment for one of his close aides. an aide at mar-a-lago that was charged with helping this, what is being alleged to be, the obstruction of documents.

he has said there's all kinds of legal jeopardy. trump has been teflon, if you like, in many of these cases and for a long time. but this does increase his legal jeopardy. these are very serious charges against him. the first court appearance is due tuesday. where trump is expected in a federal courthouse in miami. haidi: what are the implications? as you say, this is probably the most serious situation the former president found himself in. what are the implications for the leadership race going into the election? tony: well, it is early days, isn't it? in terms of this particular twist. on the other hand, that indictment over the mar-a-lago

documents has been building up for a wild. so, people have had a chance to form their opinions. which is i think what has come out in the polls released over the weekend. which is, he still can, you know, hope to fight his way through that. and, turn it it to his vantage with his very supportive base. you have to see that he leaves all the other republican primary rivals including ron desantis, the governor of florida by double digits. what are the risks for donald trump going forward as this plays out? it's very hard to calculate at this point. but it gets back to the point they are very serious charges. and, it is sort of incalculable at this point because we also have to see how it plays out in the courts and how, you know, a

group of voters, or those groups of voters that are not as committed to trump as his mega base, how they react to the unfolding of this case. haidi: tony czuczka joining us from washington with the latest. if you missed any part of the conversation go to today's edition of daybreak. dayb is your function for terminal subscribers. you can customize your settings so you only get the news on the industries and assets you care about. this is bloomberg. ♪

>> our view is you will see substantial physical will inventory drops because of opec production cuts during the third

and fourth quarter. this will push us into the low 90's. >> we are seeing softness across crude markets continuing into monday morning here in asia. look at we are seeing when it comes to wti and crude trading just above $70 per barrel for new york crude and rent off the $75 level. goldman sachs slashing their brent outlook to below $90 i the beginning of the year. an interesting phenomenon is playing out when it comes to oil traders. a lack of responsiveness when it comes to arguably the most important player in the area, the market mover, saudi arabia. the last round of production cuts and the flexibility to extend those cuts saw a muted reaction in the markets. does that mean the focus has shifted more to the demand side, the china slowdown meeting will see -- we will see a resurgence of supply there -- demand there

rather than supply-side cuts? haidi: there might be relief for big energy importers. china, over the years its foreign oil dependency expanded exponentially. the biggest oil importer now getting more than 70% of supplies from overseas. no wonder china is trying to spearhead offshore drilling efforts with its own state owned giants. we are seeing the deep water drilling push as china's aging hor wells are providing pressure to the economy. now let's turn to malaysia. it is trying to lure some of silicon valley's biggest names, selling itself as a neutral supply chain link in a region dealing with u.s./china tensions. the trade minister told us how they are planning to build on investments already secured from the likes of amazon and tesla. >> when it comes to

semiconductor emd especially tesla, the semi side, we have contributed about 25% of u.s. needs. we recently signed the semiconductor framework of supply to the u.s.. more importantly, i think going forward what is important is everything we see today, every product we see today, be it cars, medical devices, pharmaceutical, they all require the critical component, the chips, right? we are in the semiconductor industry. >> you have managed to attract big companies like amazon as well as tesla. are you intending to attract all the others? >> yes, of course. we are attracting as many as we can. microsoft, we are in talks with them. we are slowly establishing ourselves as the data center

hub. amazon and others as well have already announced they are coming here in a big way. we are seeing a lot of realignment of the life -- of supply chains looking at the resiliency and security of the region. >> talk to me about 2023 versus 2022? >> investments coming up are important. investment is one of the key engines of growth and gdp. we are focusing gdp around 4%-5% this year for malaysia. this is based around recent visits. of course, china, japan, korea, singapore. we can see the flows are coming in. the commitments are coming in. now we have to make sure the investments are realized like what we have seen in the first quarter. i think malaysia also stands to benefit because of the sector we are in.

malaysia is very mature. it started 50 years ago. in terms of assembly and tests of semiconductors. we control about 30% of the market share of the world. our emd runs 7% of the global market share. it is important that we be opportunistic in the way we leverage the strength we have in those sectors. that is key today. >> where is tesla in its commitments and operations in malaysia? have you started hiring key personnel, what are the investment plans? how much do you expect tesla to commit to innovation? >> of course, tesla, the amount is confidential. >> but a ballpark figure? >> on the employment side i can say they are starting to recruit. >> how big? >> 100 people. what is important is why they

are here. of course, they said they would roll out the infrastructure first. charging stations, superfast charging stations, etc.. and it bringing the cars in. that is important. but, here what we found out was malaysian companies actually supply a lot of parts for tesla. i think they want to be close to the supply of tesla. the semiconductor and chips our the production of tesla cars. that was the malaysian trade minister.

me: former u.s. president donald trump appears to be broadly holding onto his political base as he heads to court to face federal charges. a national poll suggests around 75% of republican voters view the charges as politically motivated. trump faces 37 counts for allegedly's handling classified documents after leaving the white house and will face court in miami tuesday. air quality in new york city and washington were sent sunday to unhealthy levels for sensitive groups as a smoke and haze from canadian wildfires lingers over the northeast u.s.. after a brief reprieve saturday the air quality started to deteriorate falling to moderate in many regions of the northeast by sunday. the smog is forecast to linger until monday when rain showers will help lens the area. nigeria's central bank governor was suspended by the president to better pursue his promise of resetting monetary policy. the government was suspended after markets closed friday and

detained a day later for investigative reasons. the governor was seen as working in lockstep with the president's predecessor. at least 10 people killed and several others were injured in a bus crash in the australian state of new south wales. the vehicle was returning from a wedding in a hunter region when it crashed into a roundabout and rolled. the death toll could rise further. the driver was taken to the hospital to assess. global news --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. haidi: let's look at crypto. not a great weekend when it comes to confidence. we saw a slug compounding -- a slump compounding the jitters of investors already on edge from the regulatory usec suing binance and coinbase. we see some tokens flagged as unregistered securities.

the weakening selloff led by a slump in smaller digital tokens like salon, polygon, avalanche as well. but going down about 3%. we are seeing a bit of weakness when it comes to bitcoin. ether also about .6%. solana one of the worst, down by 11%. weekends tended to be the times we see the biggest swings across crypto markets historically. let's get more from our next guest that says first u.s. regulators failed to provide clear rules on how u.s. assets should be treated. let's discuss that with kate lawrence in washington. kate, can you expand on that? we find ourselves in a position where regulators are now tightening the ability for some

of these crypto related assets and businesses to be able to trade. where do we go from here in terms of improvement in the regulatory outlook? and, more definitive this when it comes to the rules. kate: what we have seen in the last week is an example of what many call regulation by enforcement. you pointed out the rules have not been set for digital assets and now cities are -- where we go from here it is a pivotal moment for the crypto industry. the outcome of this case will likely determine the future of crypto in the u.s.. clearly, if they win, this is opening a floodgate of crypto innovation in the u.s.. if they lose, the innovation will likely leave and go elsewhere. what do you think is the best outcome from here? kate: the best outcome would be

twofold. one, we get consumer protection because, clearly, the crypto companies do not want to do anything that would hurt consumers. two, we have clarity. clarity for centralized entities to follow and issuers to follow without breaking rules. if we can achieve both, we have a win. shery: what have you seen in terms of global venture capital for crypto this year given all these challenges? kate: the crypto industry has been seeing major darren towns -- a major downturn for the last 12 months. fortunately for bloccerlerate vc we closed most of our investments last year so we were not quite affected. but a lot of our peers have been sitting out on the sidelines frankly because of the challenging fundraising environment and the crackdown from the sec. i think the silver lining of the sec versus coinbase lawsuit is we will actually get some clarity.

that will pave the way for more venture to get into the space erefore more funding of innovation. haidi: what does that mean for the passive cryptocurrencies? kate: the path is twofold. one path is the unfortunate path. that cryptocurrency companies would have to leave the u.s. and go to jurisdictions like europe that have been very good at setting frameworks. or, the path that is good for the u.s. and innovation for the land of opportunity this country has always been, where the government does not tell the market which technology is allowed and not allowed to exist. haidi: do you think we are through the crypto winter? where do we go from here when it comes to bitcoin prices? kate: i think we are in the very beginnings of the bull market out -- at the end of the low.

we will likely not move much farther next save -- for the next six months until november. i would not expect significant movements past 35,000 for bitcoin until november. what happens in november is important because we will be six months away from bitcoin how thing happening in april 2024. that has historically been an inflection point for the following cycle. i think that november will be a critical month for low the market movements in bitcoin in the rest of the market. shery: good to have you with us kate laurence the bloccerlerate vc ceo and founder. we are broadcasting live from hong kong. listen through the app bloomberg radio plus or bloombergradio.com. there is plenty more ahead. stay with us. ♪

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haidi: a massive a few days with central bank policy, said policymakers signaling intent to skip a rate hike at wednesday's meeting. it will come one day after u.s. cpi prints are expected to show cooling price pressure. on thursday economists expect the ecb to hike again with inflation pressures in the euro area high. the bank of japan expected to keep policy unchanged. fed officials see little need to adjust its yield curve control program. in china maize activity data is likely to provide impetus for more stimulus. pboc may cut its policy rate as soon as this week. we watch rate decisions from the state bank of pakistan and the

bank of taiwan. that's your week ahead. our next guest says the federal reserve tends to talk the market down when they see the mood getting ahead of itself. she suspects that could mean a hike this week. let's welcome hilary kramer from kramer capital research. we have seen the s&p 500 entering bull market territory together with a soft 600, the dax, the south korean kospi. it seems the mood is upbeat when it comes to risk assets. are you expecting a hawkish tone to come from this week's meeting? hilary: it all depends what happens with the cpi number prior anger -- prior to the meeting wednesday. the expectation is 4.4%. we are talking about inflation and whatever thing is costing for everyone. if for some reason we don't see rates increase this month, and no one is expecting it. everybody is thinking we will not have a rate increase, but

it's definitely on the table for next month, it's coming. because we are getting ahead of ourselves. we are frothy again. even with the money not being free, it is still flowing. we are seeing inflated valuations. some of which are justified and others have gotten ahead of themselves such as, i love nvidia. it's gotten ahead of itself. shery: we continue see that -- to seize this rotation back into tech stocks. nvidia and the frenzy around anything related to artificial intelligence. where would you go for value in this sector that seems overheated at the moment? hilary: right now we are looking for companies that still represent value. that is why we are looking at companies like oxley petroleum. warren buffett owns 20 weight percent of the company -- 28% of the company. we believe it's undervalued. it's not just oil, it's natural

gas. in the right direction. we think looking at areas like that, i want to add, even though originally i had not discussed it pre-interview, but u.s. bancorp, usb, there are still some financials, even if the fed raises rates, there are so many shorts on a bank like usb that all we need is good news and we will see usb suddenly get back to where it was. there is also value in some of the electric vehicle companies that have been left behind with everybody crazy about artificial intelligence. shery: are you making an ai bed at this point? hilary: the only ai pet i would make is palantir. palantir's problem is transparency. everybody believes since the minute palantir went public, and first it did well in the $30-$40 range that palantir would be the

next 1000 dollars stock. peter thiel was behind it. but so many of palantir's clients are governments. the secretive side of governments. so there is not a lot of information to go on. but if there was ever a company that has the technology for artificial intelligence and for low understanding data and data analysis and using it it is a company like palantir. with such a depressed stock price now, palantir until a few weeks ago was trading under $10. institutions were not even buying palantir. it looked like it would go below five dollars. but now we are back in the teens with palantir. if that takes off it could be read a really strong one -- be a really strong one. we think palantir would be a really good way to go with artificial intelligence. shery: hilary, are there any other ai adjacent or ai beneficiaries we have for not -- perhaps not been thinking of? what components will you be looking for in these opportunities?

hilary: there are companies like credo technology. the ticker symbol crdo. this is a $16 stock. it is the cisco of networking. ai needs a very strong network behind it. it needs a cloud-based network for all the information to be organized, analyzed, and to come back out at the end user. ai is actually not something that is so new to us. it is just that we have coined it and we are finally finding applications for it. data analysis companies like splunk has been around for many years looking at data and understanding that data can be taken and extrapolated to make its own decisions. that is what we are seeing. every time we get on our iphone

and we are talking to someone and suddenly we see an advertisement come to us, in many ways, that is ai. that is data being collected that in a millisecond is being shipped back to the companies that are deciding, the ai companies that, oh, this person needs information on vaccines, or new cars, or insurance. that is what artificial intelligences. that is why it is so scary to so many. of course, i have to add that on artificial intelligence one of the most important points is one of the reasons it has become such hysteria around it is the concern that so many jobs will be replaced. i think we must all understand, it's not like every journalist it's no longer going to have a job. it will not work that way. every doctor is still going to be working. we will not be letting artificial intelligence decide, you know, what kind of ailment

or chronic disease someone has or pharmacy. so, everyone needs to be mindful and realize ai is a craze right now. haidi: if you are scared for other reasons, about broader macroeconomic insurgencies, you are saying there is nothing wrong with building a value portfolio at the moment? hilary: that's right. that is exactly what you want to do. look for value. one of the companies we have always loved is five or animal health --fibro animal health with a 3.5 percent dividend yield. we love this because it's about taking care of herds and pets. when i say hurts, herd immunity. these are vaccines, antibiotics, medications. nutraceuticals. that's more important than ever before. i think post-covid world, the

interest in making sure that are herds, weather hogs, cows, or goats all have to stay healthy. something like fibro animal health, a small-cap stock, has been yet -- left behind. but you have a dividend yield and a company whose market cap should probably be five times higher than it is when you look at not just the revenue, but the earnings growth. there are companies like that you should be buying. there are other companies. it is really fascinating. we have all been interested in ai for the last four weeks watching this craze with the big tech companies coming back. but we have forgotten some ev companies and companies that help ev. mobile e a spinoff that useye exist as an israeli company. intel owned mobileye. when intel had tax credits to

build its own ship plans it said, i will spin off mobileye and use that money to build chip plants in the u.s.. so that is easily a 100 dollar company because mobileye is not just doing self-driving. the key is its assisted driving. no matter what kind of car you have now, just going to change lanes and having a beat that since you back in your lane is what mobileye does. it's very important. it has wide use across all automotive and trucking capacities. so, please, look at companies like that. where there is still opportunity. there are companies that went public that no one has looked at because the ideal market is completely dead. if i have a minute or 30 seconds to tell you, the next tracker

takes big institutional solar farms and they are able to adjust the solar panels to meet the demands of the light to optimize how much solar power is being brought down into the grid. you have companies like that. i could go on and on with so many areas. where we have growth that we should be looking at. shery: lots of bets on the energy transition. hilary kramer, always good to have you. have led some firms to suggest the threat of recession has eased area but bond managers intruding at fidelity says it imposes investment risk as they stick to forecasts for a downturn. some analysts warn that 10 straight hikes.

a taste of a bigger process to come. >> some of wall street's biggest banks are coming to a consensus on chinese stocks. strategist at goldman sachs, nomura, and morgan stanley have all/china index targets for varying time frames by at least 11%. the latest projections suggest that while the gauge may rebound from current levels, it will struggle to reclaim the high it saw in january when the reopening was at its peak. haidi: tv . this is bloomberg.

haidi: the latest headlines. the credit suisse ceo indicated that the bank takeover by ubs will close monday. in a memo, they said monday brings an end to this chapter in history for the bank and it is the beginning of a new and exciting future. he also said he recognized many questions remain about how the deal will affect credit suisse staff. u.s. agribusiness bungee is

nearing a deal to acquire viterra that may be announced monday. bunge shareholders will hold a significant majority creating an agricultural giant large enough to take on cargill and astra daniels midland. a british hedge fund manager has been ousted from odey asset management. allegations of sexual misconduct investigated his treatment of women over 25 years. he denied the allegations. the hedge fund will be ran by his comanager for the interim. the u.s. expanded a ban on imports from china's hm region. over the forced labor of ethnic minorities. it does not expect washington's move will have major impact on operations.

the a tech conference is taking place in hong kong today. the two day event cover that tech driven trends and spotlights companies creating new value for investors. we will give you live coverage of the event starting with an outlook from the ubs head of apac tech and we will speak about the future of ai in asia and monetization of ai tools. shery: oil prices at the moment, seeing downside pressure for both wti and brent. remember, this is with goldman sachs, one of the most bullish banks on the outlook for oil, once again lowering their price forecast for brent to $86 per barrel down from the previous estimate of $95. it's the third downward revision in the last six months. this is all to do with the outlook for global supplies and waning demand. we have seen a disappointing

china rebound weighing on oil prices. despite the fact the saudi oil minister keeps saying opec-plus is tackling market uncertainties. we continue to see marcus not necessarily listening, especially after the announcement of more supply cuts to come from saudi arabia. we are still seeing downside pressure after already two sessions of losses for oil. that's it. daybreak: asia is next. this is bloomberg.

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