annmarie: will you be the first?don't know who will be the first but we are working with the chinese and discussing among ourselves what the appropriate sequencing and spirit annmarie: in a phone call yet with fong are you waiting to see him in person? janet: no phone call yet. annmarie: you are staying on for the remainder of the biden administration but president biden announced he is running for 2024. would you consider another four years at treasury? janet: i was thrilled to be asked to serve. i have really enjoyed the position i have. i have a lot of work to do and that is a topic have not yet given any thought to, but i would like to stay until the end of his first term and continue on the important agenda of work that we have at the treasury. annmarie: may be between four and beyond. janet yellen, u.s. treasury secretary. think you so much for your time. we are here at the g7 meeting and it is overshadowing all the work that she and her peers are talking about which is what is emanating out of washington. that

annmarie: she will be next week. said next week she plans to meet with senior banking leaders but what she said is that she hasn't spoken to them recently. the last time she spoke to bank executives regarding the debt ceiling -- there was a mini regional banking crisis on our hands the last two months for regarding the debt ceiling, she says she's not really spoken to them since you put out that first letter to congress in january that treasury would have to use these extraordinary measures unless the debt ceiling was lifted. next week is really going to be the first time she is once again engaging with senior banking leadership about the debt ceiling. she wants to get a sense of how they view this and i imagine the administration wants the business community to call republican representatives. by and large, the business community has been culling both sides of the aisle but they definitely want a deal before june 1 or whatever the treasury secretary tells us is the precise date. alix: wall street played a role back

annmarie: don't ruin it for me. the word hope here what does he hope for? annmarie: this meeting today will be important. if you look at the month-long debt negotiations, this is a biden and speaker mccarthy. they are the ones who will be able to get the deal done. what is interesting about the phone call that took place was the president was heading back to the united states from japan on air force one and it broke the impasse for the negotiators to get back in the room on the capitol for a few hours. we will wait and see the communication that comes out of this meeting and if there is going to be a deal and then how difficult whatever deal these two men cut is going to be for them to also get through congress because kevin mccarthy has a slim majority in the house but the democrats have a very slim majority in the senate and both wings of both parties are not going to like a lot getting done if it will be a proper negotiation. tom: an unfair question but i'm going to go there, how much is this to mccarthy right no

and annmarie hordern. trying to answer this question for me.he politicians don't care, nothing is expected from this meeting this afternoon. they are clearly not at the point where they feel they have to do something. arc its don't care. they expect politicians will ultimately get this sorted out. are we too early to get freaked out by the debt ceiling? it's all i'm reading about at the moment. annmarie: the thing is that in washington, when it comes to debt ceiling negotiations, they are done at the 11th hour. but there is a cadence to all of this. this is the first real meeting, if there is potentially going to be a negotiation on this. what we saw going into it was the battle lines harden on the republican side. speaker mccarthy got that letter from 43 senate republicans saying it is not going to be us that are going to be able to move through a clean debt ceiling bill. you have to negotiate with the speaker. senate minority leader mitch mcconnell reordered yesterday, saying there is no magic plan. i don't have anything hiding in my pocket.

annmarie: it depends what you ask. secretary alan is -- yellen is trying to move this along. her concern is that by june 15 they will not have enough money to pay their bills. she is considering june 1 as this hard deadline. her coming out and talking about this and the fact that president biden has canceled the remainder of his foreign trip, he is back in washington and will be sitting down with speaker mccarthy and punch bowl news says that will take place at 4:30 p.m. eastern. there is a fresh impetus. that is what we heard from a mccarthy aid talking about the fact that last night's call between joe biden and mccarthy would he was on his way back from japan, that was productive and got negotiators back in the room. negotiators are back in the room again today on capitol hill before mccarthy and joe biden sit down. it looks like this is moving in the right direction but difficult in terms of where they are going to cut spending. president biden is willing their specific is willing to cut yesterday but he wants revenue increases. that is something the gop is not going to ge

annmarie: it is very emotional day.t is a powerful statement to have president biden alongside other g7 leaders go toward this gravesite -- tour this gravesite and the museum, a very chilling effect, and you have the prime minister of japan wanted to use this moment, this is his home town, and he wants to talk about the future. he must make sure nuclear nonproliferation is on the agenda. i have been to the hiroshima museum before and i've been to it again recently on this trip. what stands out to me is the very end there an exhibition about nuclear atomic weapons around the world and it ends in 2010 signing the new treaty. what we have today? russia suspending the new treaty in february. you can see how far the world has come for so much more we have to do. the symbolism is going to become more important when vladimir putin will be coming to the g7 summit in person to address world leaders at a time when vladimir putin is using threats of atomic war and nuclear weapon as he to invade ukraine. tom: that will be a key mom

tom: annmarie hordern with us right now.ad and running out of money in washington. -- on debt and running out of money in washington. this is our last world war ii president and he attends specific room and all of this -- pacific rim now this is a back drop eight years ago. what is the widen strategy before we talk about the biden deficit strategy? annmarie: today they are almost linked because a part of the strategy of this foreign trip is not just to be here at the g7 but also to go to papua new guinea. this is a country that u.s. is courting but also beijing is courting. and to go to australia to meet with the quad. he had to cancel this because the domestic issues back home because he wants to be home by sunday to make sure next week he can be there to get this over the finish line. i see these stories together. but a birds eye view of what united states is trying to do in asia-pacific is what they would now call de-risking not de coupling. making sure they are building these alliances in asia-pacific. they want to talk

annmarie: he cannot hide. president and he will have to pick up more events. i know he is going to new york as well. he will be meeting with donors and the democratic party on top of the normal everyday items that the president of the united states have to have, including foreign travel. it is not a referendum on the former president. they would like it to be, but it will be a referendum on the current administration. jonathan: before you run, squeeze this in. give us the timeline for next week or so. there is a meeting tomorrow between congressional leaders in the president. what should we be looking for? annmarie: tomorrow is a huge meeting. what matters is when they walk outside in go to the cameras on the north lawn, what do congressional leaders say? most notably speaker mccarthy. does he say there is a path forward or do the battle lines, the redlines, delay hard and after tomorrow's meeting? it is a critical meeting. that timeline is getting shorter and shorter. we are less than a month away from with t

annmarie: that remains to be seen.t the moment, wall street is waiting to see what happens out of washington with more clarity and when things will get more challenging for the u.s. government and the treasury nest because secretary yellen yesterday said as soon as june 1, they could be exhausting these measures they've taken since january to pay the bill. what that did was push the envelope for the white house and they are now asking congressional leadership, most notably speaker mccarthy and biden called him yesterday to come to the white house next week to talk about this and have negotiations. at the moment, both sides have very hard red lines and have not seen any movement. guy: this gets very circular but bear with me. does washington wait for wall street to wake up to the problem and have a crisis before what happens in d.c. changes? do we need to see a market meltdown or fears about a recession growing before we start to see some of those red lines being broken? annmarie: what many analysts say is that until wa

annmarie is living at every moment in washington.id, there -- heaven forbid, there is a process for international audiences. there's a ballet here that is in place. we have to go through it. down the road is the senate after the house and the potential of a filibuster, which is its own conversation. jonathan: and they have to get moving. we talked about the treasury cash balance. that number has come in from north of $140 billion a few weeks back. tom: the equity market banner will look great. june is busting out all over. with the jobs report as well. it was a cold spring and it's been beautiful in the york the last couple of days. jonathan: everyone just walking around sneezing. wiping their noses. the dogs, too. they have hayfever. ed al-hussainy of columbiathreadneedle. the dogs are sneezing. we will catch up with ed on the people issuance we may get in the next few months. ♪ [inaudible] [applause] [laughter] when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over a

that --annmarie: that is how it goes.n the primary and you go to the general, you try to be as smart as you can. some of the issues -- is when you -- he bashes the debt ceiling bill, he was a member of congress at one point and voted to increase the debt ceiling without the deep spending cuts that he is now talking about. this could also hurt them but this also makes sense. they are all trying to play to a base. the former president has 30% of the republican party and anyone else -- trying to challenge him is trying to knock at that 30% and trying to be someone they think the rest of the republican party can coalesce around. abigail: we are hearing about new entrants into the republican party including chris christie getting into the game. what does this tell you, not necessarily about chris christie potentially winning but respect to the field? annmarie: i think axios reports that he plans to announce as early as next week. there was reporting about a super pac building behind him. we are a long way off from the new -- t

annmarie: that is exactly right.there needs to be votes on either side of the aisle, which is why if you look at the contours of the details coming through, you can see where there are wins for the left and right. the issue though, and joe and i have been speaking to lawmakers every evening on balance of power. last night, what are you hearing, what is the agreement? he said, i do not know. they have been keeping this very much so in a small circle in terms of hammering out the negotiations and under cloak and dagger's before they release this text. then, they are going to start whipping the boats. if they get through the house, the issue could be the senate because one senator has a ton of power to gum up the works and make this long, difficult and cumbersome. that could be difficult if we are approaching less than a week the june 1 deadline, where the treasury secretary says they could run out of cash as soon that date. what we saw from senator mike lee of utah yesterday, he says if there is non-substantial spendin

nvidia, also kathy would -- annmarie: -- annmarie: --cathie wood joins us. let's start with the macro picture. you know what is weighing over this, the debt ceiling debacle. there is hope. volume thinner of the memorial weekend. the two year yield seeing a reversal, eight basis points. macro data coming in showing the federal reserve needs to tamp down on the pce data they look at. bitcoin managing to get a bid. let's get the latest on the debt ceiling negotiations. is it going to be a busy weekend for you? joe: it will be a working weekend for someone. staffers will have to work the weekend to write registration. we are talking top line appoints going into a potential deal and that would start the clock ticking. folks i talked to over the course of the week on capitol hill were hoping democrats and republicans would have something done before the weekend so investors wouldn't have fear going into the long weekend and it is unclear if that is going to happen. it is interesting, some of the more significant budget cuts that have been demanded by republicans a

it was not a flimsy question because it was asked by our colleague, annmarie hordern, who was there at the china-u.s. relationship is getting better or not, i agree with mark cranfield that you need to see more concrete evidence they are having dialogue and moving this thing fired -- moving this thing forward. but it is not getting better overnight because of this micron issue. essentially that several months long cybersecurity review, beijing has ruled there were security risks, cybersecurity risks, and they will bar and keep infrastructure companies in china from purchasing these memory chips from micron. 11% of micron's revenue comes from china, so it is a blow. it is not as big as qualcomm or others that get a much bigger chunk from china, but still it is an opening salvo as china retaliates. not saying it is a tit-for-tat retaliation. it looks like it, it could be, but it might not. there could be veracity in these charges, but as the congress -- commerce department says, there is no truth to this and they will work with china on this potential review. it is no coincidence at all

tom: some brief questions for annmarie hordern.cretary of treasury. look for that early friday morning, 3:30 new york time, 8:30 in london, deep into the afternoon in hong kong. markets on the move after the inflation report. stay with us. this is bloomberg. ♪ lisa: shares popping after possible optimism. lisa abramowicz in forte jonathan ferro. nasdaq leading the pack as we prepare for what could be a disinflationary relief. countdown to the open starts now. >> everything you need for the start of u.s. trading, this is bloomberg: the open with jonathan ferro. lisa: coming

annmarie: it's just an opening meeting.hetoric we've seen leading up to it, the redlines maintained for the white house and republicans in the senate and the house. this will just be an opening meeting where i imagine the president will tell the republicans they cannot hold the economy hostage which is what secretary yellen said over the weekend and she said this is a gun to the economy's head. speaker mccarthy will say in order to get this through my conference, i will need to tie these two together and i will have to have physical cuts. you guys are touching on the important part. when they come out behind the north lawn outside the oval office, this will be battle for the airwaves, which side will be winning in terms of public opinion. lisa: who is to blame? what are the lines being drawn with how they are framing this spin cycle? annmarie: speaker mccarthy is made it clear that he's been wanting the president to meet on this. the president has said show me a budget and show me a plan and then we can talk. the president

annmarie hordern is our washington correspondent.escribe the pressures brendan boyle faces. he is outside philadelphia, i believe in the second district. he is a democrat and he is fed up because half of america is struggling, even while the elites do well, given fed policy. is jerome powell aware of brendan boyle? annmarie: i think he is very aware of brenna boyle. besides senator warren, he is the individual in the house who led congressman and congresswoman to sign that letter as well. he was one of the signatories to that letter you are talking about, asking the fed to pause and reevaluate the data. he is concerned about is not just potentially what the fed said when they hiked in march, which is that we can see at some point may be a mild recession. they are right about the potential of job losses. but also, there is still concern about the banking crisis. the underlying fact on all these four banks that have failed is the fact that they were dealing with a higher interest rate environment and they were not prepared for it. thes

annmarie: i would say it is a baby step.m jeffries thinks is reasonable. this is what the president was talking about, at what base do you cut from? it gets into other issues because the speaker mccarthy does not want to keep spending flat. he wants to cut spending. the president also said he is willing to cut spending but he wants residue -- revenue raises. he also said he will not raise taxes or pass a clean debt ceiling bill. there is a negotiation and a standoff on the caps of spending for next year. a little more into the details, work requirements are becoming an important issue in the negotiation. the president said before he left for japan, he said he will not be on board for work requirements to access health care. but he did not talk about other programs. but this will pin the white house directly against progressives in their party. work requirements for things like access to food and groceries, items like that. this is becoming another major point. we are not seeing movement yet. lisa: i wonder what you make of s

annmarie hordern will be of the secretary of the treasury tomorrow.ay enough about the bipartisan quality of the congressional budget office. what is interesting is there gdp guesstimate is out 10 years in this full tread back to the bank of england, which is the key headline. they are saved like citigroup the bank of england got it wrong , what a cautious view on a recession in the united kingdom that folds back into what is our gas out one year? three years, 10 years? lisa: how do we understand what debt load is sustainable in terms of a proportion of gdp? how do you game this out and a time of economic uncertainty with projections key to the physical stability of the -- to the physical stability of the nation. tom: i will put it out on twitter. olivia blair chart with the growth analysis. he is heated there are things we do not know about 10 years out. lisa: one things we do know is some of the earnings that are coming through. product first quarter -- prada retail sales rising 23% because of europe and asian sales. how much is this people's bed da

annmarie: this is not actually a debate in washington.taking place at state let's start in iowa. you have critics coming up saying this is bringing us back to a time, this is unsafe. others are saying, this is good for accessibility for individuals and their teens to get access to the labor market and could potentially work until 9:00 p.m. and other provisions. but, i think what you are hinting at, the fact that it is jobs day in that what we are seeing in a lot of states is they are struggling at times with this type labor market for certain jobs, especially as we see more manufacturing plans given what you have with the chipset, the inflation reduction act coming back to america. tom: i'm going to quote this verbatim or get in trouble. this is verbatim to my editors. it bars workers younger than 18 from working in "establishments where nude or topless dancing is performed or co-i have never seen a story like this on labor on this labor day. this is not a washington discussion, this is what is going on in the middle of america. lisa: wha

annmarie hordern of bloomberg. thank you very much. we will continue the conversation with question of the day, should you put your chips on japan. we take it from a market perspective, goldman sachs global head of a asset allocations next. this is bloomberg. ♪ >> i would put my money into would be. the automation sectors, the world is falling short of labor right now and japan is the one that can supply robotics to the rest of the world, so i think that is where my money is going. guy: that is the singapore market strategist speaking on blue brick tv a little earlier this morning. takes us back to the question of the day, should you be putting chips on japan? the left rally rate -- the rally raise and we markets while others have certainly gone strong. christian mueller-glissmann joining us now. should we be chasing this rally, is it time for the chips on japan? christian: i think we have been saying pre-much since the beginning of last year that there is probably going to be more value in non-us equity markets and i think the flavor

annmarie: it has to pass both chambers.hen you look at the house the issue is getting the fringes, the hard-liners on both sides to want to sign up for this. there are items in video, or items not in the deal they were hoping for or expecting. but it does look like they will be able to with enough votes -- with enough votes from either side to make sure this passes. potentially we could see that as soon as wednesday. but then he goes to the senate and the issued -- issue with this and it of course is any one senator has a pretty wide scope of power in terms of how they could make this a very cumbersome process. we already heard from one senator mike lee of utah saying that if he does not see the steep spending cuts, many of which were left on the table, he would make the process very difficult. what you have here is a very tight timeline to make sure the bill gets across both the house and the senate and to joe biden's desk before june 5, what the treasury secretary told us before we went into this long weekend, that it was

. >> yes, i have two siblings, my older sister annmary who is 19 years old, and my younger sister euniceiddle child. ♪ >> my sister is a climate activist, and when we are free, sometimes we go and check out the mangroves we had planted, and we see the growth and development the mangrove has. and sometimes we find mangrove seedlings on the shore. so we pick them up and go to the places where there's small patches and we start planting and filling up the area with more mangroves. ♪ >> i have a younger sister, and i want her future to be much better than what we have now. because we are facing a lot of environmental problems, climate change, and sea level rise. and what i want to see when my sister grows up, i want her to be happy in the environment that she is. ♪ >> most of the time, i play with my small sister. i help my parents and my elder sister with the house chores, and i play with my cousins. sometimes i play rugby or volleyball. ♪ >> and that's all from us at "global 3000" this week! thanks for joining us! drop us a line to global3000@dw.com. and we're on facebook too! see you next

we did here late last night, annmarie hordern, interview john kirby, the u.s. saying biden in a g7 leaders today and tomorrow at the summit will spend a considerable amount of time discussing china. russia and china are not part of the g7, not invited as guests either. the g7 leaders will all speak with one voice about the challenges china poses. some officials, including rahm emanuel, the u.s. investor to japan, he is coming up on bloomberg tv shortly, in a tweet this wiki use that terminology that has been bandied about. china fired back last night saying the u.s. has used diplomatic coercion around the world. shery: our chief asian correspondent, stephen engle, joining us from the g7 summit in hiroshima. the u.s. and taiwan have agreed to improve ties in the face of opposition from beijing. we are in taipei with the details. it is not necessarily an fta or address tariffs, so how much is it expected to support taiwan's economy? >> it says it will boost the economy and trade but we will have to wait and see. what the u.s.-taiwan initiative actually does is it

annmarie: i think everyone tries to say we've been here before and we will always get there.cern is with how fractious you have the republican party in the house. many people point to the 15 rounds it took for the speaker mccarthy to become the speaker of the house. there is many in his party who want such deep spending cuts that no democrat and some centrist republicans will never sign up for. the bill they pass, that's their beginning negotiating salvo. you will always get less, not more but there is concern that this is different and many are talking about 2011 when the u.s. was downgraded even though there was negotiations happening at the time. the u.s. still was downgraded at that moment. that's what everyone is pointing to and that's with the concerns are and i think we will have more clarity may 9. jonathan: there is always something to worry about, appreciate the coverage. we will catch up with you later this morning. hopefully we will get an update from someone in washington. from citigroup, they are looking forward to the federal reserve tomorrow in the communicati

biden: well, if you don't want to follow up, how about annmarie of bloomberg tv and radio? reporter: thank you, mr. president. you just said, "i'm willing to cut spending." speaker mccarthy says that the u.s. government needs to spend less next year than they did this year. so will you agree to that? and on china, your team has been trying to secure meetings with their chinese counterparts. would you consider easing some sanctions to improve relations, like the sanctions that are currently on china's defense minister? thank you. pres. biden: yes and no. no, i'm not going to ease the sanctions. but, yes, i think we should -- on the front end of your question is that we -- there's a lot that is going on relative to spending. and we have agreed to cut spending. we've cut spending, and we're going to continue to cut spending. but the question is what base do you start from? initially, if you remember, when the republicans introduced their -- when the speaker, by, i guess, a four- or five-vote majority was able to pass what he calls extending the debt with a limitation on what y

joining from japan, annmarie hordern. this meeting was already going to be about russia, ukraine.ow will zelenskyy's arrival change the tone? reporter: what you seen him do in london, berlin, rome, is he's going to come here with a message as ukraine is about to have a counteroffensive, asking for more weapons and support. just making sure he is showing up to these meetings. it's incredible this will be the first time how far he's traveled since the war began, coming here to hiroshima, not very far from the eastern part of russia. japan shares that border, the sea border. he's coming off a meeting to the arab league. he will be sitting down today with middle eastern leaders, notably, saudi arabia, uae. he's trying to have this global push to make sure he has support, as they launch the counteroffensive because the message is clear from ukraine. they need to continue supplies of aid and serious weapons/ ammunition as they want to stop russia and gain back territory russia has been able to hold. alix: at the same time, president biden has to keep one eye on d.c.. how's that going? r

london time with annmarie hordern. dani: definitely looking forward to that one. let's head over to turkiye where voters there are going to the polls sunday for the country's general elections. the race is expected to be tight amid growing economic concerns. let's get over to bloomberg's yousef gamal el-din was in istanbul. what should we look out for this weekend? yousef: the tension is very real. i can feel it and here it when i speak to many people here on the ground. over 60 million algebra voters going to hit the stations on sunday. they open at 8:00 a.m. local time and they will shut off at 5:00 in the afternoon. if we don't get a clear majority, we have a runoff on may 28. the two main contenders. there are three that remain but the two main are erdogan the incumbent who has been in power for over 20 years and known to most people and then the credible threat this time around is kamal kilicdaroglu drawing a dramatic fashion. we saw turkish stocks pop off the back of that by much as a percent. i would not read too much into it but the issues around the econo

concern vocal republicans will not support this deal employs our group, washington correspondents, annmarieorden, kevin walling, charlie hurt, former special assistantant to george w bush, michael allen, thank you for being here. charlie, start with what you heard from the speaker. here is aware there are vocal members of the team who will not vote for this. they have real objections and feel like this is not anything like the bill from a couple weeks ago. >> charlie: families across america are having to make double-digit decreases in spending to deal with inflation. across the board, laying people off in order to deal with the current environment and it is like the federal government and you have one entire party here, you have the if the government gets pay raise no matter what, they get more money no matter what and entire party that is dedicated to ensuring it gets bigger every year, no matter how much hardship that puts on american people. this is a tremendous accomplishment for speaker mccarthy. no one thought he would get this. he is correct about this, no thought he would get the o

annmarie: a long weekend ahead and republicans, the house members will be leaving town.speaker mccarthy said we could potentially see a deal over the weekend come together by this weekend, maybe this is a chance they could get something before the weekend because speaker mccarthy will be giving the house 72 hours to review it and then come back and vote. this would be a positive development in the debt negotiations. fitch put the u.s. on ratings watch maybe that's the final impetus to make sure these individuals are getting in the room and hammering it out but it's starting to look more positive but i am a little bit jaded because last weekend when i was in japan, there was also this hope and the president landed and was with speaker mccarthy and that would be like the final version of this and they would have a deal in principle. a lot has to be wait and seen. it white house source said they would meet every single day so let's see if they me today. let's see what they do before the weekend. tom: the washington post leads with democratic party unrest. they are upset wit

mike talked about trade ties with china in an exclusive conversation with annmarie hordern. >> the presidenteeks now that congress has time to and needs to act to lift the debt ceiling. for the past couple of days, we have seen on display is american leadership. whether that is delivering a tough new sanctions package against russia, whether that is a common approach on china. republicans would put that at risk. that is what is at risk. that is republicans plan the games with the debt ceiling that they are. that is a huge play when it comes to economic war. it wants to de-risk. what is the difference? you saw that in the joint declaration. this comes to the core principles that unify us. this is an underlying approach here. that is something leaders agreed to. what that means is there are a set of places where there are concerned. things like china's market policies and practices. things like their desire to acquire the most advanced technology to advance their military capability. these are places we will take action. that does not mean there isn't still room for a broad economic relationsh

ambassador to japan rahm emanuel and our very own annmarie hordern.ook at the first word news. china is said to be transferring management of its stakes to the sovereign wealth funds. there are a few state firms currently affiliated with chinese regulators and they will also be transferred to that entity. house speaker mccarthy and chuck schumer are making works towards a default agreement. they are lining up a vote in the house. the senate will take up legislation after fast passage. the senators may be called back to washington to vote next week. but officials are increasingly spit -- split over whether to raise or pause interest rates at their next meeting. what -- dallas fed chief lorie logan says she is not ready to pause tightening. she floats skipping the right action next month to return in july. the pakistan government is to search imran khan's home. a provincial government official proposes that khan is sheltering dozens of people involved in last week's unrest. the officials will not arrest him again after the high court deemed it illegal.

treasury secretary they are speaking exclusively to bloomberg's annmarie hordern and we are trackinggo this week. but maybe there is still some reason to be optimistic at least that we could get to something. rishaad: ian samson is still with us. if they get a deal done that is the common narrative here is that we could be taken to the wire. ian: i wish i was a political analyst and could make a good forecast on exactly what happens, but it is positive to see these talks developing. we remain at fidelity multi-asset cautious are a variety of reasons and of course the potential for really bad impact to both financial markets and the real economy if we do plan to go over the edge of the debt ceiling. it's just one of the headwinds that potentially face global markets and the u.s. markets. but of course whenever you do see or if you do get indiscriminate selloff in risk assets as a result of this, that is usually good buying opportunity. we are cautious and watching and optimistic, but if there was discriminate selloff, probably more of a buying opportunity. yvonne: it seems to be almos

it is japan, annmarie hordern will be there, papa new guinea, and australia.placement in and out of china with our allies. can we do that? can we actually control the technology movement of our allies into a nation that we fear? enda: there is no doubt that the u.s. export controls restrictions on investments have been have been part of china's economy, especially the semi conductor sector and some of those caught in the crosshairs. huawei was one of them. u.s. allies have been on board for that story as well. at the same time, others are reporting that there are reports of resilience in high-tech sector and some of those individual companies. the question about whether or not the u.s. can cap china's investment remains an open one. tom: the distinction tends to be a recovering china versus an industrial china. do you buy that? is that the dichotomy we should be looking at? enda: the biggest surprise has been is the rebound of consumers. the western story was pent-up demand after they moved past the point of restrictions. that has not played out in china. mayb

tom: claims tomorrow for all of us and on friday we have annmarie hordern reporting on the presidentormer vice chairman of the federal reserve system richard derrida. this is bloomberg. good morning. ♪ bridgett is here. she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, and once-in-a-lifetime. jonathan: equity future is just starting to turn a higher into the opening. equity futures positive .4%. "the countdown to the open" starts now. >> everything you need to get set for the start of u.s. trading. this is "bloomberg: the open" with jonathan ferro. jonathan: coming up, debt limit talks intensifying as biden heads to japan. deposits rise. fed