bruce einhorn. the debate over inflation is not going away anywhere just yet but janet yellen weighed in during a virtual hearing of the house appropriations subcommittee. take a listen. janet: the recent inflation that we have seen will be temporary. it's not something that's endemic. i expect it to last for several more months and to see high annual rates of inflation to the end of this year. >> joining us is the chief investment strategist for aipac. you heard from the treasury secretary. it is not endemic, but it will last several more months. a little bit of a timeframe on what transitory means for the administration. do you agree with janet yellen? >> yes, we do. we think that is spot on. what we are seeing is a peak in may and a slow decline of inflation at the annual level until the end of the year which means that the overall number will be that until the end of the year but then of ours, we will get 2022 and then we will see where the real inflation level is for the u.s. economy and then w

bruce einhorn on the nord stream 2 pipeline. get a bloomberg business flash. >> weibo is said to be talking to outside investors to raise additional capital. the self-driving car company has discussed plans to eventually list publicly, splitting from its parent alphabet. this comes in the wake of senior departures including it ceo, cfo, and others. a vegan food and drink maker has priced its ipo at the top of the market range, raising more than $1.4 billion. the offering underscores plant-based products' jump into the mainstream as consumers seek alternatives to traditional meat and dairy products. jp morgan set for a bumper payday. it comes from a hedging transaction with global energy partners. it was arranged when a ig invested more than $12 billion in the aramco pipeline. anna: inflation fears gripping the markets again. rafael bostick says now is not the time for the fed to withdraw monetary support. >> we have never had an experience with a pandemic is not a pandemic response chapter in my econ textbooks. we are going to h

joining us now is bloomberg reporter bruce einhorn. bruce, what were the key points blinken raised and the russian s' response of those? >> the secretary of state brought up i prisoned opposition leader and parts of ukraine, that said he also suggested what he -- the state department called enhanced cooperation on issues like afghanistan, the iran nuclear program, north korea. and so lavrov said that we had, quote, constructive talks. so there are signs that the two sides may be getting past some of the most contentious issues they've been facing for a while. manus: the other major issue of this new administration has been how to tackle nord stream, the pipeline controversial for the biden administration. where do we stand right now? >> so the biden administration has essentially taken the seam position as the trump administration which is that the project undermines european security. because it ties european countries more closely to russia. but in a report to congress on wednesday, the state department said that the pipeline and the

yvonne: bruce einhorn joining us. story today with their earnings, revenue did the estimate but the market took it negatively, down 3% hong kong. hong kong and hang seng indexes taking first steps in an overhaul, watching names like hsbc and the configuration. the hong kong exchange down 1%. it announced rules to increase the profit requirement. looking at casinos, citibank saying the slump in macau casino shares unjustified given the fundamentals. they are saying the underperformance has seen a gap between share price and fundamentals and that will narrow, they say, after travel restrictions left. coming up, tencent joining it biggest rivals in a spending binge that will? up competition in china. this is bloomberg. ♪ ♪ yvonne: jd logistics will stop taking investment orders for its hong kong ipo offering a day earlier than planned. david ingles has details. what are we expecting? david: we have what is very near final pricing, the company set to guide the hong kong price $40.36 hong kong, the lower end of the market

haslinda: bruce einhorn, thank you. we have lines out of japan. to seek a virus emergency extension. bloomberg reported it is not just talking about osaka, but also kyoto looking for an extension of the emergency measures. those measures are meant to end may 11. the extension could be until the end of the month. tokyo planning to seek the virus emergency extension. yvonne: market moving lines when it comes to the strain between australia and china. we heard from the national development and reform commission. announcing it is an indefinite suspension when it comes to activities under the china-australia strategic economic dialogue. focusing on the moves in the aussie dollar. seemingly hit the chinese stocks. the chinext has been falling, as well. the ashram renminbi falling after some gains of the china market coming back from the holiday. the aussie dollar, we do see a bit of a drop at 77 usn. the geopolitics front and center as we look at the chinese markets. we will talk more about uber, tying a jump in bookings and a loss, and increasing conce

shery: bruce einhorn there. we might see a cooling of relations, with europe, as well. the eu chamber of commerce in china says the investment deal reached by the block could take seven years to get ratified. >> we have worked seven years on this deal. without being sick -- cynical, it could be another seven years and so is you applied. it is not that in the water, but definitely the sanctions -- the asymmetric, unwise sanctions from china, targeting eu parliamentarians, definitely have caused major problems for the ratification process. china has to list -- lift the sections on the parliamentarians. i do not see this happening anytime soon. we are in the situation of having concluded something and then three much later having to wait again. >> europe is that this will go through, -- your hope this would be ratified quickly, that is not going to happen. this could potentially be years. >> sanctions are easy to impose. very difficult to lift. just look at the west and russia. when he 14 and nothing is really happen. the sanctions from the chinese side being lifted anytim

. >> bloomberg news reporter bruce einhorn. we will be heading to art basel in hong kong.ts doors to the public this weekend. we look at how crypto nft's are playing a part. this is bloomberg. ♪ >> art basel hong kong opens its doors to the public this weekend with a hybrid model. online viewing rooms and virtual walk-throughs. crypto art and nft's are also playing a bigger role. a crypto advisor spoke with bloomberg about how to start collecting nft's. >> when you are taking your first steps, go to a platform which has a wide array of different artists and spend time to look at the art and see what calls to you, see what ideas, really look at the artist's practice and try to understand the ideas behind it. when you are comparing temporary and nft art, there is no magic to it, it is a different medium. once you have something you like, your next step will be to jump in and buy something. don't spend a lot of money, just get your feet wet. spend $100 or whatever is affordable. there are so many nft's available. don't buy what people say is hot. if you are speculating on art