joining us is anne walsh. let me ask you about, it seems like what lee was telling us was that ups as a bellwether, the shipping volumes aren't as bad. it is a margin problem they are having. i know you expect the economy to slow down so what is your view on gdp and growth? anne: thanks for having me here. i am excited for the new format so congratulations. we are more pessimistic i guess would be the right word with regard to where the economy is going. we think it will be slower than most of the peers and industry believe. looking for gdp coming in the second half of the year moving into the 1.6 21.89 level relative to the -- 1.6 to the 1.89 level relative to the 2.0. those with access to capital and with larger businesses and the wealth class relative to the other part of the economy which is small and mid sized businesses which make up 50% of the economy and also income earners in the lower 50% bracket . this is a very different economy between the two. katie: that bifurcated economy work into the markets?

-- anne walsh from guggenheim.the permanent gutter solution that ends clogs for good. they took the time to answer all of our questions. they really put us at ease. end clogged gutters for good. call 833.leaf.filter, or visit leaffilter.com today. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. >> from the heart of where innovation, money, and power collide in silicon valley and beyond, this is "bloomberg technology" with caroline hyde and ed ludlow. ♪ caroline: from bloomberg's london headquarters in san francisco, this is "bloomberg technology." coming up in the next hour, markets entering uncharted territory as president biden drops out and passes the baton to kamala harris. who in tech will pp

paul: guggenheim partners ci and welsh -- cio anne walsh. coming up, india's budgets is up next.is bloomberg. ♪ why do couples choose a sleep number smart bed? i need help with her snoring. sleep number does that. thank you. and now, save 40% on the sleep number limited edition smart bed. plus special financing. shop now at sleepnumber.com (♪♪) (♪♪) sandals rhythm and blues caribbean sale is now on. visit sandals.com or call 1-800-sandals. paul: welcome back to bloomberg markets: asia. you are watching the india focus on here is a look at indian markets ahead of the open. it looks like a little bit of softness in the premarket and it has been a modestly risk off day in the asia-pacific. watching india because they unveiled a budget including massive spending on employment and projects favored by key political allies. richie betty joins us now. what were the key takeaways from the first budget and following perhaps the election setback? >> it looks like prime minister modi listen to the update he was given last month when he lost the majority in the elections and the big key areas