paul: the bloombergnef head of aipac research.o come, fresh signs of stress emerging in koreans shadow banking sector. why it is being seen as a weak link in the $63 trillion chain. that is next. this is bloomberg. ♪ were you worried the wedding would be too much? nahhhh... (inner monologue) another destination wedding?? why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. empower. what's next. annabelle: south korea is emerging as a weak link in the rule shadow banking, with its real estate exposure quadrupling over the past decade to more than 670 billion dollars. for more, let's bring in asia credit editor finbarr flynn. this is spooking a lot of global investors. what is the problem of the stress and korea exactly? finbarr flynn: yes indeed. the root problem goes back to the flesh of cheap cash that was around the globe after the global financial crisis. so in korea, as in many parts of the world, with interest rates near zero or else, -- zero or less, the ca

we've got alicia her era, chief aipac economist.were discussing central-bank action and everyone is sitting on their hands. to what degree do domestic issues take a backseat? alicia: not enough to cut before the fed is the situation in and that is good news because if anyone were desperate, currencies would be hit like never before. nobody wants to be the name to hammer on. closest is the yen because a hike would not be enough if they had not announced a path to reduce the balance sheet. janet yellen said 7 trillion a month. lending conditions will not change. the market did not buy it and there's not much pressure on the yen because intervention will happen. in between the central bank in those trades. other than that, u.s. will have higher inflation, so everyone is waiting for a good reason. currency depreciation. haidi: in a lot of economy is where it has been wait and see, progress toward bringing down inflation has been glacial when i a lot of other indicators including labor market have been robust. are there underlying struct

that is things to big events at the moscone center and the aipac conference, visitors spending $8.8 billion. in a statement, scott beck, san francisco travel president and ceo said san francisco's tourism recovery efforts continue to make steady progress, attracting more conventions and events to the city is a key focus to san francisco travel , even a citywide impact on san francisco's economy. the key driver behind the surgeon tourism is the city's strong convention calendar. >> put traffic on the corridor, especially in spring and summer, we can see it is happening. it is coming back. >> in 2023, the moscone center hosted 34 events and tracked in delegates from around the world. this increased convention activity and that translated into significant gains for san francisco's industry. these two friends reunited at the conference here. one is from l.a. and the other one from vancouver, canada. >> honestly, my entire experience from start to finish has been pretty fantastic. >> i have been here about six hours now but i can't complain. a beautiful day out and great food and drink. i will c

let's bring in our guest, aipac equity and credits at ubs wealth management. let's start with your views on the yen. can you define modest and do you have a number in mind that the finance ministry will be looking to defend? hartmut: on the former, maybe beyond let's say, 144 level, thereabouts. we critically look, as we just heard, i would agree that it matters what happens in the u.s. think in terms of interventions, we heard it a few times in the recent past. it can be that effective, it certainly helps that if they do. i think it remains to be seen whether we can have that effect. the is we see broader -- the key is we see broader weakness happening. only then do we think that the end can outperform the other currencies. paul: if and when it happens, what sort of back to you expect to see on japanese equities, which have had a tremendous run over the past few months? hartmut: i would first and foremost expect some effect on the exporters. therefore, if you look at exposure in japan, where we had a neutral position, to focus a bit more on either value, or i

zionists are putting this pressure on lobbies like aipac.s that this action should be taken, and from the issue of student expulsion , we have had various cases that mr. doctor said, the expulsion of students, the arrest of the daughter of one of the congress representatives, mrs. ilhan omar, and her daughter in one of the student centers in the state. minnesota arresting the various cases that they are now threatening, such as increasing the taxes of these universities that are protesting in some way , cases like this. in particular, we are looking at universities like columbia and harvard, you know, after all, those universities are usually for special interests and the students from that university eventually go out, most of them become officials of this country , and why do you think this protest is so important? its form is completely different, and the objections, for example, are two there are three points in my opinion. the first point is that these are also supposed to be responsible for america, until this process of decline of ame

forced to follow the main stream of governance, which is well known now that we have a very powerful aipac lobby or the american zionist lobby in general, which is trying and working, and in a way, it is the pulse of the media. he controls the political flow and the pulse of the economy , which he has traditionally controlled. i always link these three together, so i disagree. with the zionist regime or not supporting the american policy in before the zionist regime , it is not an easy task for politicians in america, while these politicians accept the general framework in america and are subject to it. in general , see when this power exists and these people are in congress, now in the senate, in the house of representatives. the representatives or the white house and any other apparatus that comes in are forced to accompany this wave because if they don't, this current will start to fight against anyone who opposes. now the first indicator is the cost of collision with these, it has gone up a bit, otherwise, these are also the cost of paying for the same positions. he was usually against

that is thanks to big events at the moscone center like the aipac conference, visitors spending $8.8san francisco. the manager on the embarcadero says the influx of tourists has played a pivotal role in their success and recovery from the pandemic. >> much more foot traffic, especially in the spring and summer. we can see that it is happening. >> when we don't have the foot traffic, the vacancies, it is boring. we need the lively environment from the moment we open till the moment we close at night. >> we are really excited and very hopeful that it will ramp up. >>> one key driver behind the surge in tourism is san francisco's convention calendar. in 2023, the moscone center hosted 24 events and with events like dream force and the apex summit, bringing people in from around the world. another effort to spur economic growth is san francisco mayor london breed's upcoming trip to china. her office says she hopes to expand tourism, grow diplomatic and cultural ties between china and san francisco. the mayor also plans to meet with the mayor to promote san francisco's 45 year sister city

. >> it's a story we've been following since the conclusion of aipac mayor london breed signed a deal during her visit to china this week to bring a pair of giant pandas to the san francisco zoo. the pandas are expected to arrive next year, but it's going to take a lot of money to host them. abc seven news reporter luz pena has a look at what happens next. >> it's official. pandas are coming to san francisco. what do you think about pandas coming to san francisco? >> good. are you excited in accomplishment over a decade in the making that involved mayor london breed formally asking the chinese president on the tarmac last november, after san francisco hosted the apec summit. >> and panda. experts are from china checking the zoo this year. and now it's finally happening. >> san francisco is absolutely thrilled to be welcoming giant pandas to the san francisco zoo. >> the san francisco zoo will receive the giant pandas as part of china's panda diplomacy program. when the city hosted the pandas for a three month period in 1984 and 1985, the zoo had over 1 million visitors. >> we are so t

guest: i have not received aipac funding. caller: does genocide -- guest: i think many of us are concerned with the people of the palestinian people. i have repeatedly said we have got to continue to bring humanitarian aid and support a two state solution. i have been to the region multiple times and met with organizers and leaders of the palestinian liberation organization as well as individuals living in palestine. in my own district i have a large palestinian and jordanian community and have stood with them and their cries for support for the temporary cease-fire to allow humanitarian aid to come in and i will continue to speak on that. one of the things i remind people is i understand the displacement of people and what that feels like. my family has been in the virgin islands for over 300 years. they did not come here and are not part of the united states because they were displaced and removed from their own homeland. so i empathize with what is happening in palestine. i stand with the palestinian people while at the sa

israel's power has to do with political support in the united states from groups like aipac and also individuals. there is a strong lobby for israel but it is structured differently. like uae and saudi arabia would do things like employ former u.s. military officials to work for them after they leave the government. i think the two models are somewhat different. there is a level of political support for israel among the american public that does not exist for some of these other countries that are using these lobbying methods. host: the council for foreign relations has a chart that looks at aid to israel from 1946 to 2023. a good deal of it in military aid but also to egypt, afghanistan and south vietnam is topping the lists. talk about the other countries that get military aid aside from israel and ukraine and what is surprising about those countries that we are giving that to. guest: the aid program, over the years the big recipients have been israel, egypt, turkey for a while. about 25 countries get some of that money. a vast majority goes to the middle east. israel, egypt and jo

they have got about 50 investment banking jobs in the aipac region. starting this week. at least 80% of the reductions are likely to be in hong kong and mainland china. what do we know about the job cuts about china's ongoing struggles? >> at the moment, what we do know is we expect i 50 world will go in the investment banking across the investment banking department. this will be a major focus on hong kong and china. 50% of the cost coming from those two locations and clearly this is a sign that morgan stanley still has more adjustments to be made in the asia-pacific region as it reallocate some of its resources given what is happening in china. they are very well flagged and well understood in the story of china and the decrease in the activity we have seen there. the sluggish nature of the ipo market there. but also the debt market there that has been struggling as well. this is clearly another sign of them needing to bring back some of the resources there to cut costs in certain areas there but we've seen it at some other peers in the region. a lot of the u.s. invest

. >> it's a story we've been following since the conclusion of aipac mayor london breed signed a deal during her visit to china this week to bring a pair of giant pandas to the san francisco zoo. the pandas are expected to arrive next year, but it's going to take a lot of money to host them. abc seven news reporter luz pena has a look at what happens next. >> it's official. pandas are coming to san francisco. what do you think about pandas coming to san francisco? >> good. are you excited in accomplishment over a decade in the making that involved mayor london breed formally asking the chinese president on the tarmac last november, after san francisco hosted the apec summit. >> and panda. experts are from china checking the zoo this year. and now it's finally happening. >> san francisco is absolutely thrilled to be welcoming giant pandas to the san francisco zoo. >> the san francisco zoo will receive the giant pandas as part of china's panda diplomacy program. when the city hosted the pandas for a three month period in 1984 and 1985, the zoo had over 1 million visitors. >> we are so t

walk us through the ripple effects in the aipac region. david: we are six hours into the session now. just for some context. we did open week across the board. since that point, we've started to reverse some of the earlier weakness. at these levels, we are doing ok which goes to show from an equity market perspective, we might be able to shake off these cobwebs in a couple of hours. now, i can't say the same thing when you look at your other -- the bond markets. all you have to do is look at the bond markets. you will feel much better. these yields we are seeing across the asia-pacific. we can talk about currencies in a moment. that's really where you are feeling the pain right now, across the sovereigns. you don't normally see that. kriti: the global bond volatility story having ripple effects around the world. it has ripple effects into the dollar and what it means for the currency story. the 10 year, not the only one that's higher. talk to us about the yen here. david: that's interesting. we woke up in asia with the yen above 153. as yo

among the aipac semiconductor related stocks, those are the ones driving the region's benchmark lower today. it is crucial for a week where we are seeing big tech earnings coming up, along with u.s. data. i'll get to that but let's flip the board because it is not just that, that we're watching. at the end of the week, we're going to see the boj potentially holds rates, after the historic hike last month. i'll get to what we're seeing on the bonds potentially. let's look at this chart which shows you just how the ai theme might be unwinding. tsmc, this stock has lost more than $100 billion of market value, in the span of about a week. this is a chart that shows you the volume of put options. at the end of last week, it's bite to the highest level since january. our colleague in the newsroom pointed out this is a sign of how options traders are dealing with this bearish wave of tsmc. let's look at japan. bonds if we can. it is about the boj at the end of the week, and how the japanese currency is weaker to an extent, that it could shift the inflation outlook for the country. this could

we discussed their business strategy for the aipac region and their recent acquisition. but first, are exclusive with the argentinian president as he strikes a more pragmatic tone on china after previously calling the country an assassin. that is next. keep it here with us. this is bloomberg. ♪ do you want to close out? should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. ♪ haslinda: welcome back. argentinian president javier milei is striking a more pragmatic tone when it comes to china. just six months ago, he had threatened to curb ties, calling the asian nation an assassin. javier milei spoke exclusively with bloomberg's editor-in-chief. >> as for the chinese government, what we have always said is that we are libertarians. if people want to do business with china, they can carry on, business as usual. what i said was i wouldn't be aligning with communists. and that's precisely one

haidi: head research and chief economor aipac at societe generale, thank you.ching fx, we are seeing a broad-based decline in stocks and the korean won, in line with the political developments, the ruling party suffering a loss in parliamentary elections. it is seen as a blow to the conservatives' agenda. banking stocks and other companies seen as big beneficiaries of the corporate value up program declining. investors concerned that this defeat will slow down reform initiatives for an particular, the value proposition which had driven valuations higher and more enthusiasm for foreign investors into a entities. a discount in korean starts with tax initiatives and the like. it is now being seen as potentially in jeopardy. also seeing weakness in the korean won alongside the declines that we see in the kospi. let's bring in our korea economy and government reporter who joins us now from seoul. help us break down the results from the exit polls, the implication for the president. clearly, there is concern for investors in terms of what they see as this meaning for

summer lee was opposed two years ago very strongly by aipac and other pro-israel groups and defeatedthis is not the biggest test for of their political power, i think that's coming in cori bush's race in st. louis. they basically took a pass on it. she was opposed by a pro-israeli republican, jeff yass, who underwrote a superpac against her, but she dismissed it as a republican trying to take her out. i don't read much into it except to say the democrats have a problem because there is an element of their party which is anti-israel, pro-palestine, and by that i mean endorsing things like from the river to the sea, a slow began calling for the extinction of -- slogan calling for the extinction of the state of israel. stuart: i don't know where jewish voters find a place for themselves in the democratic party. president biden spoke on abortion during his campaign event in florida. roll that tape, please. >> trump goes on to say individual state laws are working, his words, brilliantly. if brilliantly. it's a 6-week ban in florida. it's really brilliant, isn't it? trump is literally tak

they finally have someone governing with them and aipac wants to push back because their power is beingir power is being targeted. they've been in power in my opponent has been hanging out with them and the other very wealthy people in my district for his entire career. they've never had someone like me speaking up and governing with the working class. so now that we won in 2020, won in 2022, they're going topull out all the stops and spend as much as they need to to get me out, but it's not about money. it's about people. and it's not about power. it's about family and community. so we have been doing the work on the ground with the people since we've been in office. we are proud of our record and that record will see us to victory. >> why, though? why is this happening? i don't know of another part of our politics or a policy issue. it does not happen. the gun lobby doesn't do this with your opponent. they don't primary you if you are not -- the climate lobby does not do this. the labor lobby does not do this. why is this happening? >> they don't want any criticism of israel. israel i

and if this candidates are unseated by aipac, we jump people feel the democratic party is not a place for candidates like omar, cori bush? in the secondor thing is going o say was that on some of these down ballot races, so schumer gave this landmark speech and is there a couple of weeks ago about how he had personally turned the page on netanyahu and was calling for new election in israel. he doesn't make that speech unless he talks to the purple state senators who he is most concerned about being reelected. i assume he's hearing from some of them thatt this is becoming n issue interstate. maybe i'm an electoral reason or maybe just from a nuisance perspective that activists are annoying them at town halls that the views have shifted. and so that also gives me a sense that typically when a senate candidate in a purple state is like, you know, standing up to the party, they do it from the right. i don't know if that would end up happeningon in some of happening in some of the states which is quietly pushing for the party privately to change its position or at least have schumer change

of them were actually charged after they were arrested for protesting on the bay bridge during the aipache district attorney here in san francisco, brooke jenkins, took a really strong hand for this. she said, i'm going to charge all of you. and they charged. she charged them with five misdemeanors that was later dropped. and they only have to serve five hours of community service. so many of them say, hey, we're going to keep doing this because we have a message and we want to put it out there. >> and we do want to make a point to say that there have been so many pro-palestinian protests that have happened all across the bay area outside of, you know, pretty much every government building that you could possibly imagine. and, you know, so many of those folks that we have been hearing from today just feel like their messages have not been heard, that they have not been heard by the elected officials. and so they have now escalated, essentially, their tactics to doing something a bit more dramatic. we're talking about it , you know, and so many more people whose commutes were disrupted or

lenny, when the iran deal was reached in the summer of 2015, for instance, aipac announced they were going to spend $40 million to defeat it and they mobilized a lot of infrastructure to pressure democratic members of congress. they could have killed the deal if they had gotten a few democratic votes. one of the things we did is we turned to the broader progressive infrastructure and we said when these members of congress go back, here are the arguments that you can bring to town halls. i actually think one of the things -- obama did not do everything right by any stretch of the imagination, but he did try to enlist young people. that whole campaign was predicated on basically having thousands of young people in their 20's were going to knock on doors and try to convince their balance -- parents. nobody asks young people to do anything in politics other than vote. and young people are onto that. you just cannot ignore me and then show up in the summer and tell me, you better vote for me because this other guy is much worse. that politics does not work anymore. so i think if you truly

particular, 165 of them ultimately supported this rule to going forward, meaning that this bill to overall aipac okay. we'll get a vote on the house for tomorrow and it can be approved along by a majority vote in the united states houses, which is what we expect. so a lot of moving parts here war, but the two main things we're watching here, what ultimately happens in a final vote on this bill, which is expected to pass the house tomorrow. they don't have to go over to the senate. the senate have to give final approval back to the center of the president to sign into law after months and months and months battling to get this across the finish line. and then what happens to the future of the speaker of the house? kenny ward off this revolt on the far right and will democrats come to his defense? all key questions here. but as you saw right now, as marjorie taylor greene was leaving this vote, she did not want to comment about whether today was a de she would have to call for that vote or what our thinking was in trying to kick out the speaker and i just wanted to clarify, amanda, will the vote t

i wanted to know why is aipac not a foreign lobby? they normally promote israeli issues. a general rule. if someone wants to promote a russian issue they would have to register that. why is aipac not registered? i need to know that, because this is very good for republicans. they are going to devote 100 million dollars to unseat several democrats. next time it could be someone else doing it to republicans. host: thank you so much, gregory, for your call, and for everyone else who called in this segment. next we will have ray suarez here to discuss his podcast on shifting ground with ray suarez and his book we are home: becoming american in the 21st century an oral history. we will be right back. ♪ >> you say i am over the hill. tom would say that is a man in his prime. >> watch the correspondents dinner with a featured entertainer and president biden to give remarks. coverage begins at 5:00 p.m. eastern on c-span.org and c-span now as journalists and celebrities walk the weighted carpet. then -- walk the red carpet. then, sights and sounds from within the ballroom before

i wanted to know why is aipac not a foreign lobby? they normally promote israeli issues. a general rule. if someone wants to promote a russian issue they would have to register that. why is aipac not registered? i need to know that, because this is very good for republicans. they are going to devote 100 million dollars to unseat several democrats. next time it could be someone else doing it to republicans. host: thank you so much, gregory, for your call, and for everyone else who called in this segment. next we will have ray suarez here to discuss his podcast on shifting ground with ray suarez and his book we are home: becoming american in the 21st century an oral history. we will be right back. ♪ >> you say i am over the hill. tom would say that is a man in his prime. >> watch the correspondents dinner with a featured entertainer and president biden to give remarks. coverage begins at 5:00 p.m. eastern on c-span.org and c-span now as journalists and celebrities walk the weighted carpet. then -- walk the red carpet. then, sights and sounds from within the ballroom before

why are you taking money from aipac? stop taking money from aipac. this is funding genocide. look at these pictures. these are real children. they have lost their limbs by amputation, all without anesthesia, hospitals, schools, mosques, 6000 bombs. in the first month. gaza, the size of philadelphia. >> this meeting will come to order without objection. the chair is authorized to declare a recess at any time. we authorized today's hearing on the special counsel robert mueller. the chair now recognizes the gentleman from the state of wisconsin for the purpose of leading us in the pledge. >> nikki ♪i pledge allegiance to the flag of the united states of america and to the republic for which it stands one nation under god indivisible with liberty and justice for all. >> opening statements of that witness we will each receive witnesses and five minutes to question the witness. the china recognizes themselves for an opening statement. robert hur was appointed special counsel on january 12, 2023. he had a fundamental question to address. did show bryden unlawfully retain classified

the largest manipulator, the largest of these groups would be aipac and israel and almost no one talks about that. even though it's been demonstrated over and over. right. it doesn't fit the and again, this is part of what we talk about about media literacy, understanding frames and understanding narratives and understanding that we have a responsibility to teach each other how to ask the right kinds of questions. we can deconstruct and decode that kind of propaganda. we can seek out the kind of news and information speaks to us and is source of factual information, and we can try to build a better conversation to create better, more just and equitable communities we can. they did it 100 years ago and they didn't have these dumb things smartphones we can do it. we are doing it a little bit at a time. people on a saturday. come out to hear me rant and rave for a minute. but you know, when i'm going to be here for a while. sorry, but you're going to start talking soon, but i got stuff i would love for you to support the avid reader, of course, but i have other resources to give away. the

israel's power has to do with political support in the united states from groups like aipac and alsoividuals. there is a strong lobby for israel but it is structured differently. like uae and saudi arabia would do things like employ former u.s. military officials to work for them after they leave the government. i think the two models are somewhat different. there is a level of political support for israel among the american public that does not exist for some of these other countries that are using these lobbying methods. host: the council for foreign relations has a chart that looks at aid to israel from 1946 to 2023. a good deal of it in military aid but also to egypt, afghanistan and south vietnam is topping the lists. talk about the other countries that get military aid aside from israel and ukraine and what is surprising about those countries that we are giving that to. guest: the aid program, over the years the big recipients have been israel, egypt, turkey for a while. about 25 countries get some of that money. a vast majority goes to the middle east. israel, egypt and jordan