i will focus on relations east but not the aipac meeting itself. there are six months left in office. after 4 1/2 years in office, on economic you have a bit of a true track strain. the most pro- investment minister we have seen from india. you have seen a dramatic rise. domestic reforms to make it easier to do business there. that varies quite a bit with trade policy. as reluctant as india has been on trade liberalization over the years, they are even less interested in trade. you see an increase in customs duties. you have seen india walking away from pending trade agreements. any agreement that has china at the table, they will be reluctant to conclude. india has a massive trade deficit with china. i don't see an agreement that includes both india and china. take that however you want. ultimately india gets expelled, ultimately they agreed to have a watered-down deal that everyone can agree to. big differences in terms of how they are approaching trade and investment. on security continuing and augmenting some rhetoric on engagement with east as

it really came to a head at aipac. it followed quickly on the heels mike pence, really shaping different visions of how the economic trade order should be playing out in asia. we heard xi jinping saying the trade war is shortsighted and doomed to failure. wto soed for a stronger very different opinions coming from mike pence and xi jinping. at the end of the day, they did not come up with a communique because u.s. officials told bloomberg that the chinese rejected a reference to all unfair trade practices. other aipac nations agreed to that language and the chinese did not. let's hear from the players. mankind has once again reached a crossroads. which direction should we choose? cooperation or confrontation? open is or closing the door -- openness or closing the door? >> the u.s. will not change course until china changes its way. >> let me make this clear. it is an open platform corporation -- for cooperation. it is not to serve any hidden geopolitical agenda or targeted against anyone. >> the u.s. offers a better op

aipac -- apec summit roundup without a joint communique for the first time since 1993.aid china balked at the wording of the wording on trade where it they would declare any unfair trade practices. the trade war overshadowed the talks. people treated back and forth. >> mankind has once again reached a crossroads. which direction should we choose, corporation or confrontation, openness or closing one's door? the interests of all countries in the future of mankind hinges on the choices we make. rosalind: the trump administration will issue its jamal into the murder of khashoggi on tuesday, indicating the killing was ordered at the highest level. the cia said the crown prince approved of the murder although president trump said that could never be proved. the president also said a cia report is for mature. -- premature. mr. trump: will anybody really know? he had people recently close to him that were probably involved. on aaw heavy sanctions large group of people from saudi arabia, but at the same time we have an ally. i want to stick with an ally that has been very good.

aipac ended last week with the optimism over trade. these japan trade numbers certainly not enough to suit any supplys we are seeing chain worries play out. guest: it is actually a very strange morning. it has been rather quiet. the aussie and the kiwi sold off a bit. but nothing to really scale us back down from the strong optimism that came through at the end of last week. i think we are in a situation risk assets have it sold down so much that getting to levels that are potentially extremely attractive , so people are reluctant to sell further. just at the moment no one wants to buy, etiher. maybe we need to wait until the end of november, once we get to the fed meeting, once we get the xi/trump meeting and a definitive answer how bad it is. i think we have the tariffs being raised to 25% already, so the question becomes how much worse can it get on trade. and we need to see real data come through. the japanese numbers could be part of it. shery: no surprise people are skittish given remarks we saw the last week talking about policy

aipac is doing this is good. if they can get agreement to put it up publicly that would be even better. there's a long way from that to actually accomplish something in terms of eliminating some of these practices, but i think what apec has been good at over the years is successions of small steps that eventually to something,ly lead to and i think this would be a good example of that. you'll also see the standard rhetoric that comes out of every one of these things about regional integration as importance of the free trade agreement for the asia-pacific. this has been a goal for 20 years at least. i suspect, i rather think we're not much closer now than we were in the beginning. i think it's useful that they continue to restate it and continued to maintain a commitment to it. even though the steps towards actually achieving it remain fairly far away and even though the main focus now in the trade area is elsewhere, the of the -- via the negotiation of our stuff, as amy mentioned, and that question of turning the

morgan's aipac head of investment bank joins us next. asia. this is daybreak i am shery ahn in new york. haidi: i haidi stroud-watts in sydney. day two of the jp morgan conference in hong kong which rings together investors and tech players to discuss the pressing issues. rishaad is there for us. thank you. let's get a look at what we have been losing. the key participants we have been talking to include our next guest, the cohead of aipac investment banking. how would you describe the mood? >> very upbeat. people are focused on the fundamentals which are strong. companies continue to scale, people raise capital, improving monetization and margins. they are optimistic. rishaad: what has been the buzz in terms of what you cover with gmt? >> the buzz is around a number of sectors people are optimistic for, and ai -- ai is a huge theme. chinese ai companies have commercialized more effectively than any other in the world, more so than the u.s. were they have good technology but not been commercializing to the same extent. shared economy is a big

comfortable with him missing out but aipac is a big mistake? >> yeah. south china sea, there is no reason for him to be in asean especially because xi jinping will not be there. and seeing how much he gave away -- i could see him not wanting to revisit the scene of the crime but png is different because xi jinping will be there and papua new guinea is ground zero in battle for influence against beijing in the western pacific. look where it is near micro -- micronesia, the cook islands, this is the next war of influence between china and the u.s. it shows we care less about them that china does. that is a big miss. pence isice president the best in the administration to articulate policy against china ever since his landmark hudson institute speech. without trump it looks like less than china's offering. haidi: we heard from the government saying this area is our patch. it is a strong match to be -- message to be sending to beijing. do you think we will see the middle economies and regional significant ones like australia forced to take a position choosi

haidi: this week is the start of inmit season, asean singapore, then the aipac.dent trump will be absent. is this a message that suggests the u.s. is pivoting away from asia? reporter: it does suggest president trump is not interested in attending these two important summits that he typically attends. he is sending mike pence. it speaks to the issue of isolation and kind of doubling down on america first, even after the midterm elections. it really does raise the question as to whether there are going to be if there are opportunities for discussions of things like trade policies, and as the u.s. takes on china in trade, whether there might have been opportunities to talk to other countries about trade, certainly the u.s. is missing out on those. that will be a question for the future, whether there are repercussions. domestically not so much. internationally perhaps. thank you so much, our senior international editor. looking at geopolitics in the world, those asian summits. the annual shopping holiday topping $30 billion to set a massive record. this is bloomber

and china dominated aipac or the summer for asia-pacific economic cooperation.story to leaders were unable to come to a joint closing statement and the divisions over trade and security issues between the u.s. and beijing. foreign correspondent now with more. hey, trey. reporter: eric, normally on the last day of the asia-pacific economic cooperation summit among leaders present a written written declaration of written declaration agreed upon ideas, but this year amid tension between china and the united states, the government ended with no consensus. according to reports the issue of the world trade organization was a major sticking point vice president mike pence on behalf of united dates are good leader should denounce the organization and call for its reform. prime minister peter o'neil of papua new guinea where the event was being held pushback against the idea saying it was an issue that should be addressed at the world trade organization. pence and chinese president xi jinping exchange jobs and remarks saturday criticizing the trump administration america

we have geopolitics front and center with the aipac economic leaders and leaders make -- meeting takinglace in new guinea this week. sydney futures come on the back foot. 6/10 of 1%. oil looking like the indicator 1%.side close to new zealand, we are seeing the downside of 3/10 of 1%. as well as weakness across the aussie and kiwi currencies can let's get you to first word news with ramy inocencio. ramy: good morning. president emmanuel macron called for greater international corporation is a world marked 100 years since the end of world war i. occasion to criticize the protectionist policies embraced by america under president trump saying patriotism is the opposite of nationalism. nationalism is a guitar -- visit the trail of patriotism. angela merkel warned the world is regressing on human rights. opec and its highlights have become laying the groundwork for a pert curves next year with saudi arabia announcing reduction in crude shipments from next month. after the meeting in abu dhabi, the minister said the group was responsible and would work hard to balance the market. the kingdom

aipac, seemed like after seemed like the vice president -- >> c-span's washington journal, live everyday. with news of policy that impact you. freedomp this morning, partners mark holden discusses bipartisan criminal justice reform legislation. and author chris whipple talks about presidents trumps post-midterms shakeup. then, share our strengths lisa davis on the hungry campaign to combat childhood hunger. be sure to watch c-span's washington journal, live at 7 a.m. eastern. join the discussion. >> coming up this morning, it is prime minister's question in the british house of commons. theresa may takes questions from members of parliament with brexit and the prime minister's tentative agreement with the eu. that is live, beginning at 7 a.m. eastern on c-span two. >> who was martin van buren? >> good question. a lot of people probably need to ask the question. martin van buren was the eighth president of the united states. .e is often forgotten his presidency was only four years on -- long. >> sunday at q&a, the biography of martin van buren. >> he spent a lot of time with ehrenberg, an

vicehad been lowered by president pence's tough talk, among other things at aipac last week.age, very report. it really shows that the u.s. is continuing. intellectual property and innovation and it has taken further unreasonable actions in recent months. nothing has changed, is what they are saying. >> right. but also, they are accusing china of stepping up cyberattacks in the u.s., that this is actually a growing threat. also, that it is increasingly focused on these technology companies that the u.s. is in terms of the theft of intellectual property. david: we will be watching one of the. onl us about this ban high-tech exports in china. they are in the process of reviewing it. reduce thesecally high-tech exports, not just in china, but in other countries as well. the u.s. congress is saying this is something we need to deal with. the u.s. congress has been back and forth on whether it is a good idea. interesting amid all of this. we still have larry kudlow saying the president has hope for that meeting with his chinese counterpart. that he knows that china wants to make a

and aipac is all about the picture.it's about that picture with all the leaders and the whatever funny garb they are wearing and the number of people in the room have been to these things and based on protocol, the vice president is goingto be at the end in the back somewhere . while shinzo abe xi will be standing next to the house or something. i've been part of the administrations where they haven't shown up to so i think amy is right . he will be there and there are small things they will be doing but the overall message is going to be this disinterest is not a priority . that's not good given the broader context of what's happening in asia. >> can i follow up one question? on president obama we saw pitted to asia which got a lot of attention. how confusing must it be for some of these asian countries to see president trump not even showing up after the proclaimed he was going to make a visit? >> it is fair to point out that president obama did miss one of these summits in 2013 in bern i and in asia but that was in t

jacinda ardern in singapore as she prepares to step up for the meeting in singapore and heading to aipacn new guinea. we will be live in singapore up next. this is "daybreak: asia." you are watching bloomberg. ♪ haidi: this is "daybreak: asia." i'm haidi stroud-watts in sydney. shery: i'm shery ahn in new york. global leaders are in singapore for a series of regional summits this week. among them is new zealand's prime minister jacinda ardern who will be renewing her country's keith to be exempted from u.s. tariffs on steel and aluminum. wherehead to singapore haslinda amin is joined by the prime minister herself. haslinda: great morning. good to have you with a spirit you talk about trade being front and center. of course, the issue right now is president trump himself did not turn up at a time when trade is front and center. one is looking for commitment from him. what do you make of his absence? was it a mistake? pm ardern: ultimately, leaders make a call around the presence at the various in different anyms that are available at given time. having the presence of the vice president a

never you have a grouping that like aipace u.s., not be able to reach an agreement, and when you havetending that event, it underlines the narrative that may be the u.s. is not actually part of this part of the world. it is not a player here. that i think is the risk. that is where the change could happen if this continues. john there. executive editor joining us out of beijing. let's get a look at what markets are doing at the moment. a little bit of what we have been seeing since the early part of the session. a look to be one of the worst days of the year for u.s. equities. we are seeing a little bit better framework here in asia. take a look at what we are seeing. u.s. futures actually looking positive and gaining more steam. asia-pacific down 6/10 of a percent. we are looking at treasuries to and 10. oil is a big story. six 7% drop. a low in case you missed it for 52 .77. crude was we are moving a little bit above that. brent at 63.41. 280 one on your two year and 307 on your 10 year. we just had an option. onshore looks like if you're in china, there is your yield on the 3.25. o

have begun this aipac summit. enter thomas i thank you. so ahead on al-jazeera the death toll continues to rise in california as a grapples with the worst wildfire the state has seen. and once prompting motorists across france to stage blockades and demonstrations. out of there has been some pretty heavy rain in western iran in the last twenty four hours this is the clouds picked up by satellite in fact the whole system is active dancer kuwait and saudi arabia the head of it is joined by something else of a turkey in the hokus is a nice weather cold air is coming in from north of the caucasus and down through eastern europe which means the time being is not as cold as it was in tashkent an hour marty but the rain in the forecast has gone to dry looking picture at least on saturday from iran back through to the east and met the give us the action area get increasingly cloudy come sunday property still drive all the end of the day and it remains that way fine and sunny all to be on marty's a plus for to say winter is going into eastern europ

sell the baskets to anyone in the world crystal queue developed an app to help and at this weekend's aipac summit has been awarded a price for innovation i'm so happy that i'm doing this i have a chance to utilize digital technology to bring harm and development to. in a very simple people even losing his appeal to. the ambition of the asia pacific economic cooperation group is to foster better relations and smooth the trade. in the twenty one biggest economies of the pacific region combined they're worth more than hoff the world's total but papua new guinea's economy is the smallest of those in the apec group and there's obvious poverty in port moresby a city right now where security is tight most years the leaders of all apec countries attend its annual summit the u.s. president as leader of the biggest economy in the world is the star attraction but donald trump is skipping this year's event leaving china's president xi jinping as the leader in the spotlight and in his opening speech were clear criticisms of trump's trade policies so paul resorting to old practices such as protectionism

commission and the italian government continue to but heads over the spending bill for 2019 which includes aipacnd public spending. they want them to submit a new version of the plan and i spoke above head that said anything else, italy needs to show it is credible. >> credibility is the word. we need credibility in the numbers and strategy. we need credibility into the future. >> in italy, the company's finance minister insists the budget will remain unchanged. he said this after meeting with the euro group's president. >> the government intends to confirm the main pillars of the budget plan. >> it's clear at this point they cannot make any serious changes. it won't make any changes and that is mainly a political reason. they have to keep their voters happy and this is a populist government. making those changes is basically imperiling the government. what do you do? for political reasons, they have no options. >> the big shorts, steve eisman has earmarked to bank banks as targets. he says the u.k. is the biggest threat will not say the bi banks here shorting. -- he is shorting. he has a list a

anna: he spoke exclusively with bloomberg at the aipac ceo's summit. joining us now, the ceo of msci. good to have you with us. as you look at the politics in westminster and the drama of yesterday, give us the context of what difference it makes for your business. how are your plans looking for brexit? nofor our business, there is substantive change from brexit at the moment. our clients are the largest investment institutions throughout the world, but also in europe, the u.k., and the continent of europe and therefore, there will be significant effects for our clients. we will have to be watching that and following them, whether they are investment banks or hedge funds, or clearly asset managers. when you look at the moving markets and see increased volatility, how difficult is it to keep the indexes up to date amid sharp moves? henry: it is not a problem at all. we have been doing this for almost 50 years now. we have real-time indexes, futures and options. futures and options trading and many indices around the world. it has not been a problem at a

in the same area for the msci aipac is a long way higher. see strong sustained gains in asia before you can start to relax in any way. shery: garfield, thank you so much. garfield reynolds. you can find all of those charts ont garfield just showed you the gtv library. that would be gtv go on the bloomberg. the world is witnessing a new global arms race. it does not involve traditional weapons. but it could be a major factor in determining which country -- --ntries become dominic dominant superpowers we are talking about artificial intelligence and data is the key. head of digital industry claire curry joining us now. claire, when you take a look at who has the most data and who has the most to gain when you are developing ai, who is winning? china isight now, certainly ahead. it has very lax data restriction on collecting personal data. and a very powerful tech company, namely tencent, which has so much personal data. china is ahead. if we believe the data is the key to unlocking the potential. shery: it would not be that hard for china. the

headed back home from asia where he represented the united states at what proves to be a very fraught aipacit. we will discuss what it means for the future. i had no idea the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're the baker's and we're usaa members for life. usaa. get your insurance quote today. mauntil i held her.diabetes wasn't my top priority. i found my tresiba® reason. now i'm doing more to lower my a1c. once daily tresiba® controls blood sugar for 24 hours for powerful a1c reduction. tresiba® is a long-acting insulin used to control high blood sugar in adults with diabetes. don't use tresiba® to treat diabetic ketoacidosis, during episodes of low blood sugar, or if you are allergic to any of its ingredients. don't share needles or insulin pens. don't reuse needles. the most common side effect is low blood sugar, which may cause dizziness, sweating, confusion, and headache. c

he attended the aipac summits last year and outlined our intel -pacificstrategy -- indo strategy. announced his strategy over a year ago. the president is where the american people want him to be americand that is an cemetery in paris. amidstr: oil has climbed speculation that opec and its allies will cut output next year. saudi arabia's energy minister said demand for saudi oil is "tapering off," and he sees the need to cut $1 million -- one billion barrels a day from october levels. >> if we see a persistent glut emerging, and quite frankly, we are seeing some signs of it coming out of the u.s. we have not seen the signs globally, nor can we predict 2019. global news 24 hours a day on air and tictoc on twitter, and powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. anna: thanks very much. euro has fallen to a 16 month low on concern about what italy is going to deliver to the european commission tomorrow in terms of its budget. peter chadwell is still with us. is one of your top trades. walk us through it, because i know you are concerned tha

dani: after that meeting in a packed, we had tensions -- aipac, we had tensions cropping up.ure tumbled 19 basis points in two weeks. it's falling around 335. we've also seen weaker economic data that has fed into this. when we look at hours, it gets below 30 -- ours, it dips below 30. last time it has this much of a tumble was in april. after that, traders get a 15 point races rally. while the long-term trend might be down for 10 year yields, we might see a breather. the other market taking a breather from a selloff was oil, gaining today. just a point out how much bearish bets have cropped up , the blue line shows hedge funds. they rise for a seventh consecutive week, the longest streak on record that we've seen short positions rise. if opec needs to step in here, we need a big catalyst for any sort of move to the positive in oil. nejra: dani burger in london, thank you so much. and niroj for us, as well. let's turn back to brexit. we've got prime minister theresa may planning to face business leaders in the u.k. her uphill struggle continues. she will address the confedera

no joint communique coming out of aipac for the first time in many years. saudi arabia and stocks are bouncing back after significant losses yesterday. reflect apretty much lot of the benchmarks across asia. we have seen gains in japan and south korea as well. in the fx space we saw the dollar weaker on friday, down 0.5%. it bounces back today. that is why you are seeing emerging-market currencies weakening against the dollar. here in london we are focused on the cable trade. that is flat after some very muted gains on friday. let's take a look at what is happening elsewhere with fixed income. it is very much a focus on the ten-year treasury yield and two-year. we saw the two-year and 10 year yields drop on friday following comments from fed vice chair richard clarida talking about the neutral rate but also the global economy. we are seeing repricing around those 2019 fed hikes. not even to hikes priced in right now. bond yields do seem to be moving lower across a lot of the asian space. we are keeping an eye on italy as well. taking lithic look at commodit

i know we're never going to match the aipac of federations type of contribution, but my sense is that a commitment of even limited amount of resources will make for a long time. fourth is to allow also activists to take some time off because sometimes you don't need to be 24/7 on the front line, you need to step back and to find ways to continue to grow. i would say for us to think about a curriculum for growth that we can actually bring forth to the various activities and organizations to make possible that people are there for the long-term. i always tell the activists you're not going to be able to change this in one day. we've been at this since the british issued the declarations of 1917. trust me, it's not one day. you need to prepare for multiple marathons. we need to tell people to understand the environment without reducing their energy. sometimes these are used almost as a deflator and you have to give them the sense you have to prepare for a longer engagement with the struggle of palestine. >> i think we have to continue to tell the stories of why we boycott. since march 30

about the dollar not doing a whole lot with the aipac tensions.- apec apple saying they have slashedon on all three of .heir iphone models apple suppliers falling out of favor. basically see tech bearing the brunt of what we see in japan and korea. samsung down 2%. still some green when we see lg display and sharp your asian tech shares have lost quite a bit of pricing and there's risk already this year. this nissan-renault alliance in question. nissan off some of the lows. and fell 6%. -- it fell is percent. -- it fell 6%. overnight, we did see the renault shares down 8.5%. it suggests the end of the carlos ghosn era. 2000% busier today and then this time of the session. this is actual volume. this is where we should be based on all-year averages. 2000% for this time of the session. let's get more on this as investors reacted what has been happening in tokyo. stephen engle is with us. fluid story. what do we know? stephen: there are so many layers to the story. as to what it means to the i alliance best of the allies the carlos ghosn has been building and consolidating into a possib

aipac acrimony.cific summit ends with no -- vice president pence and president xi clash. and ghosn in crisis. carlos ghosn arrested in tokyo for underreporting compensation. nissan looks to report -- to remove him as chairman. and you're looking at a live news conference where we are waiting on nissan executives to join us. we will bring you those headlines as they cross. , carlosow from reports ghosn has been arrested in japan. the arrest a very dramatic few hours that have unfolded for carlos ghosn. nissan looking to remove him from the board. it looks like that might be just a formality. we are looking for nissan to start their briefing in tokyo in a few minutes. we will update you with any headlines as they come out. a dramatic day in terms of headline. welcome to "bloomberg daybreak" on monday. so much for a quiet monday. i'm alix steel. we are looking at more risk off field. the dollar is getting stronger. futures down by about nine points, dragged lower after that nissan news earlier this morn

telling aipac, choose them and with us you will get capitalism and with them you will get religious discrimination and a lot of -- >> a lot of debt they'll ultimately use >> look, i will tell ya, i want to say whether facebook. i think it is a bel-- you searc for something positive my wife says listen i have never seen you so depressed about the eagles it is not everyone tn the eagles >> how about powell and bostic and the dollar at a one week low. you may get what you have been calling for. >> when you look at powell i think powell is trying to think about, i think he's worried about the debt >> the growing overall national debt >> he did not realize how quickly things can defeteriorat in the company the numbers are autos or housing. now you are starting to get hotel numbers that are weak. >> there is always a recession that's another sign. look, give me something positive here >> now, listen are you surprise that there is more of a negative tone given the lack of joint communicate out of pay >> that was a bad meeting. we wanted to be a bad meeting. we'll go into argentina with hope and the dinne

. >> they did not only just trade barbs but what turned out to be sales pitches to the other 19 aipacore said -- this was quite surprising -- he said at some point they will have to choose between china and the united states. mike pence pretty much put a line under the underline, saying that we are not going to change our course until china changes its ways. >> excellent reporting, as always. anderson,g in hannah our market strategist at jpmorgan. she joins us from our hong kong studio. investors were for the most part clamoring. calls were quite a bit lower. investors, instead of any progress, got the possibility of more zero-sum games and asian politics. give us a sense of your initial reaction and what this means. >> so this is perfectly in line with what we've been expecting. the dustup between the u.s. and china at the apec summit is, i think, preview of what's to come at the g20 when president xi and trump have a discussion about trade. we have been anticipating that trade tensions will continue, that there is no easy offramp between the u.s. and china when it comes to this conf

we had the aipac meeting where it didn't go as well as anyone would want it to go. about trade. china was there appeared america's vice president was there. they couldn't agree on a final communiquÉ because the chinese felt they were being bullied so they walked away. no communiquÉ. >> that you shall answer some level of consensus of this is unusual but people also say the g20 meeting is coming up and that is really where you may see more headway on some negotiation for trade. stuart: we shall see. rachel of the stock iraq's. monica, thanks for joining us. appreciate it. apple's chief tim cook says some sort of government regulation for big attack is inevitable. in an interview over the weekend he says the free market has not been working the way it should. apple stock by the way is way down about 3% as we see. 3%. problems with future demand for iphone lacking apparently enough to take in the stock down today. we do have united health care adding an apple watch to its work place wellness plan. the company says people enrolled in the plan will be able to use the wat