coming up, carl weinberg joins us. talk about japan and the higher yen as we see risk aversion. this is bloomberg surveillance. ♪ tom: if you are just joining us, markets decidedly on the move, -267.s -30, dow futures let's get to the bloomberg monday business flash. evere: it is the worst start to the year for china's stock market, trading hal after .he cfi 300 fell 7% investors are against selling after chinese manufacturing fell for the straight month -- for the fifth straight month. were mostly higher in asia and beat most expectations. no surprise for the third week in the world, the winner any box office is star wars, the a force -- the winner in the box office is star wars, the force awakens. $20 million behind the box office champ, avatar. tom: we get everybody together for christmas and it was amazing how everybody agreed it was a great movie, i cannot remember the last time that happened. francine: i will go see star wars by friday. it is like mission impossible. star wars, a little bit about what life -- wha

carl weinberg comes out and flat out recant his inflation recall for 2016 and calls it the unthinkableflation in economic slowdown this year and completely reverses where he was four weeks ago. francine: that could be our morning must-read tomorrow. are thrilled to continue our discussion on economics and international relations. adair turner will join us tomorrow. always opinionated, and i dare turner on grexit. we think vonnie quinn in new york. ♪ stephanie: china goes defensive, aggressively buying the you want. oil goes past a 12 year low. the state of the union -- the bloombergs union -- crunched the numbers to find out how we are really doing. stephanie: welcome. you are watching "bloomberg ." it is tuesday morning here in new york city. i am stephanie ruhle. david: we are talking about markets. and we have our colleague -- guy: it is always about markets. whenes not matter president obama is speaking. it is always about markets. matt, it

carl weinberg of high frequency economics came out this morning and to use his words, recanted on hisrch note of three weeks ago. he said i was flat out wrong and the answer is disinflation. jon: what could be the defining theme of 2016, i do not want to get out a crystal ball -- this is, important, you are allowed to have a crystal ball. ,on: my point is that 2016 central banks are not going to deliver the way people thought they would in 2015, 14, 13. you see that at anchor japan, look at the bid on the yen. when we are risk off and china is slowing down, you see strength in the yen. you expect the bank of japan to be pushing back. as i go through research notes, you hear nothing about that they same way you did the previous 2 years. 2016 could be the year when central banks say maybe not this time. in terms of a flight to quality, matt was saying a trade to uncertainty. the dollar had a monster run since 2011. gold versus the dollar, it is not like gold is safety anymore. jon: that is the point tom brings up, in the last couple weeks, finally a balance of uncertainty and people act