betty: adam haigh, thank you for that.p administration targets china -- global economics editor kathleen hays is with us with more. we are waiting for this white house this of products that will throw tariffs on. ishleen: we sure are, it supposed to be over a thousand, and there is a lot of products to put on your radar screen. navarro, his point man on trading at this point says that in order to preserve our lead in high-tech industries, the u.s. that is -- growth productivity -- navarro says that is why when these tariffs come out they are going to be squarely focused on china's made in 2025 strategy. let's us into what peter navarro told bloomberg earlier. tariffs are on the on the china 2025 industries. brazenly hasview, 2025 planhis china and pulled the rest of the world we are to dominate every single emerging industry of the future. therefore, your economies are not going to have a future. strategy wass announced in 2015 and i want to show you the industries that china said we are going to grow and what one -- what

adam haigh is here with us.have been talking about this tech selloff in the u.s., but is it to home, it's a much different picture. taken au have kind of little bit of a longer-term look at tech performance in australia, so this is not really about the overnight this is a longer-term picture that i reported. quite anhows is interesting phenomenon because technology is a very small component of the australian stock market, 2% of the index. the likes of the s&p 500 is in the region of 25%. tech struggled in australia as being an avenue of where you can get exposure if he wanted to be invested in equities. it's all about banks and raw materials companies, but as this chart shows on the bloomberg terminal, 62 07, tech has been the standout outperform a in the turquoise line over the last 12 months, and that has largely been down to the likes of some of these local tech firms that are seeing a lot of inflows into those names of late and have outperformed the likes of the banks and some of the more steady sectors that

haidi: thank you so much adam haigh.co is cutting investments in australian that as risks escalate. the is spooking one of world's biggest managers? >> corporate bonds have been going gangbusters over the past 10 years and aussie bonds have done very well. bonds areaying these getting incredibly expensive and it is time to unwind some of their oppositions and these investments. this comes at a time when australians are highly leveraged thanks to a very expensive housing market and there is little buffer for volatility. betty: are other fund managers doing the same thing this out aussie corporate bonds? ruth: some definitely are. that therenager said will be isolated blowup in the market and they are actively hunting right now for shorting opportunities. particularly for highly leveraged real estate companies and investment trusts. that is definitely a pocket they are looking to short. when is an opportunity to buy are at to these long positions in the aussie bond market? ruth: there are definitely opportunities and it is

we have adam haigh here with what is going into the asian trading day, given the turbulence and pronounced: it is really that selloff into the backend of friday trading that is a bit of a worry and overhang in the sense of that kind of disappointment in asia. it does look like it will open up slightly lower but the fact the s&p futures are kind of flat, they were a little bit up when i left my seat a few moments ago. there was a sense some calm is starting to build in. what larry summers was saying when he speaks to the heart of the problem is, how do you make an assessment on how this affects profit growth at the moment given so many uncertainties and questions around the chinese response and the u.s. response to that? also the other u.s. allies in other parts of the world? still difficult of course, and coming off the back of a terrible week for sentiment, i think this chart is great. 6450. it shows you the magnitude of that selloff we experienced in u.s. equities here and the global equity story. is hit sentiment that that hard, you get levels of momentum and trading indicators that is

adam haigh, our editor.mpanyiggest weighing in on a mounting trade tension, saying it would need bad for all sides of agricultural products use as targeting chips. tom mackenzie joining us from beijing. does this suggest china is no longer looking at restricting imports of american soybeans? be the keyould question as trade tensions between the u.s. and china continue to rise. plans to retaliate. of course, we have been reporting that china was indeed looking potentially at reducing the imports of soybeans and sorghum from the u.s., but when reporter sat down with the president of cosco, he made it clear that so far, there has been no notice from the chinese government for his company, the largest food company in china, to restrict their imports of u.s. soybeans. take a listen. >> for china right now, i think the china government very much buyurages commercials to u.s. soybeans. i don't see that they do normalg to affect the u.s. and china agricultural trade. u.s. soybeans are seen as a potential pressure po

adam haigh is here. looking like a pretty strong start of the week for asian equities. ayrolls report and the earnings upgrades. adam: we have gotten earnings to orextent over the last week so. the market narratives have been driven by the macro events with geopolitics and inflation and growth. it is a useful exercise to go back to the earnings picture and remember where the growth is coming from. one interesting note over the last few days, they have been upgrading their estimates for the remaining market earnings over the next 12 and 24 months. if we have a look at the chart this showsl 62443, how the asian market equities have been lagging behind the rest of the world. one interesting note from the ubs report was have a see thailand, china, taiwan, those markets dominating the revisions they are seeing. it is all premised around the consumer -- the continuation of a weaker dollar here that could be tricky with dollar strength coming back and also a well flagged and telegraphed trajectory for higher rates in the u.s. that certainly plays into their understanding it is

trading gets underway in asia and with adam haigh with us.k at the implications and reaction in asia to a slightly less hawkish jay powell than we were looking for. >> the margin is less hawkish and we did see a pronounced move in the dollar, which we can significantly. the yen and asian currencies will get a kick at that. and the equities market take away for asia is still the goldilocks for them. it is still a story of growth and the fed lifted growth forecasts as well as that inflation story is still not really a problem. ofstill speaks to the idea risk-taking for equity markets and some valuation opportunity and asia that continues to be an alluring factor with global managers wanting to dial back some of that u.s. and moved to this part of the world. and we get back to the china response to the tariffs. if we get an announcement from the u.s. on thursday, there will likely be a response of some kind very quickly. would expect from some of the other partners, in the focus moves to that. and a few other things on the data front today. at p

tent o adam haigh is with us now, asia has been holding up ok. of the moment, can we get further uplift and equities and push on from here? battle back in u.s. equities, and one interesting usrt worth looking at shows the optimism within the growth sector of the equity market. that is the white line there cometh into your member in february extremist turmoil in the s&p 500, these growth equities were doing well and have the best years. these are companies of earnings tightly tied to the cyclicality of the economy. people are happy to pay up for these kind of companies. they are one indication that growth is ok in the economy is still doing well and equity market should continue to perform. another is a flattening of the yield curve which is continuing, and the volatility that is coming down after that initial spike your sink volatility get ink to pre-outbound levels january. we are seeing that in emerging markets and bond market volatility. and we are seeing it in equity volatility. well ford of transport a further uptick higher in equities. bett

. >> global markets there, adam haigh is there.ontinued pressure. >> it is a big debate. it continues to be really front and center for the traders and enter. the yen is entering this environment that you might think would do reasonably well if we around asomething trade war type scenario. you would expect of those kinds of haven assets to do reasonably well. i think if you dive into the bloomberg terminal, look at this chart, this shows us the sense of how the yen has performed in the. periods of the blue and red. back to 94er mind and 95 when clinton ratchets up those trade policies on japan. he had a real change in the landscape for the dollar-yen. at the moment, there has been a bit of pressure on the dollar-yen. ,he yen has been strengthening that is a haven play over the last few weeks given what is happening in equity markets adjust into a new environment where inflation is more present. we had that ramp-up in bond yields over the last few months. it is all playing into that dollar-yen story whether or not it continues this

adam haigh, bloomberg global markets editor.dimir putin winning a landslide and is russia's longest serving leader since stalin. the outlook for the russian economy. this is bloomberg. ♪ haidi: that is the newest addition to the daybreak family in the middle east, starting at 3:00 p.m. sydney time, midnight in new york. betty: always like the show music, different show music they pick for the rest of the world. our exclusive interview with kingdom holdings chairman -- you want to stay tuned for that interview to kick things off. russia, the russian election turned out to be totally predictable with president vladimir putin winning by a landslide. he is the longest serving leader since stalin and will be in power for at least until 2024. the economy is struggling. relations with the west are at their worst since the cold war. ramy inocencio is at the wall with the things we need to know. run us through the numbers. ramy: in this case it is the drama that is in the details here. we knew it was a foregone conclusion mr. putin would