welcome to "daybreak asia."d along with treasury yields as investors reassess the reaction to gridlock in italy. set toacific markets extend wall street's advance. all signaling gains. global bloomberg's headquarters, i am ramy inocencio in new york. wilbur ross attacks what he calls slow and rigid institutions. he says the wto causes the u.s. great concern. beijing trade flows

that is it from "daybreak: australia." asia." "daybreak: this is bloomberg. ♪ >> 7:00 a.m.g. we are live from bloomberg's asian headquarters. i am yvonne man. welcome to "bloomberg daybreak: asia." stocks off to a mixed start after wall street sputters out. investors weighing u.s. job numbers. watching day two of trade talks in beijing. the white house sees a positive start to negotiations. from bloomberg's global headquarters, i am a betty liu. president trump changing his story on stormy daniels, admitting he did repay hush money but saying it was legal. why a spending spree

that's about it for daybreak australia this morning. yvonne and betty up next with daybreak asia.h, right? we are continuing to unpack this latest twist and turn. betty: we are going through the stages of a breakup when it comes to these talks between president trump and kim jong-un. it seems like right now, it's not the right call for president the definition of denuclearization. sean hayes.g what does this mean for north korea now? it seems they are willing to talk anytime. how does china play into all this? does this make them less willing to put pressure on pyongyang? betty: we will stay on that fame with gordon chang, the author of nuclear showdown. north korea takes on the world. he thinks the president just had no choice but to cancel the meeting. although he would come back to the north koreans with a different type of question. his question would be, do you want to meet or not? but it looks like it makes tough talk from the president has gotten the north koreans back to the table. fori: even some accolades the president, saying this is the right thing. we are going to loo

that does it for "daybreak australia" this morning, but i than men betty liu are up next with "daybreakoring as the fed meeting was supposed to be, we have interesting lines from the fed statement with no changes in policy and talk about the inflation outlook and the fed suggesting it will let inflation over should a little bit. at what special is the key question, and a professor from the harvard institute joining us the next hour or so. paul: that is conducted on daybreak asia. stay tuned. ♪ betty: 7:00 a.m. in hong kong we bloomberg's asian headquarters. welcome to "bloomberg daybreak: asia." asian stocks headed for a mixed start as the fed delivers a bloomberg's asian hawkish hold. signaling inflation rising above 2%, remaining on track for gradual hikes this year. york, wherein new it is just after 7:00 p.m. this wednesday. ing not to submit to u.s. threats. elon musk says tesla should generate

this is "daybreak: asia."bout 11 days we have more than 200 chinese you shares joining the market index -- chinese shares joining the market index. open.esult of that small joining us to talk more about this is mark austin. thank you for coming on the program. there is a lot to be excited over. misguidedt be some excitement or optimism. there is a huge amount of excitement because this is the first that of creating a huge amount of momentum equities. ofs really brings in a lot passes money. you mentioned what we are seeing at the beginning. starts only about 5% to with. ultimately, china will go up to 100% inclusion in that index area and that will bring a huge amount of money in. challenge will be over the years to come to take the necessary reforms around stock suspension, to be able to allow that money to come in. i think you are seeing a big shift. was do not position invest in china around the world three years ago. there are still reforms that need to be taken. now the default position is shifting. wheth

"daybreak: australia that is it fo -- that is it for "daybreak: australia." bloomberg. ♪ yvonne: it is 7:00 a.m. here in hong kong. i am yvonne man and welcome to "daybreak asia." asian-pacific markets set for declines amid rising trade tensions. the s&p fell for the fourth time in five days. tariffs are to blame. trump has metal penalties against america's closest allies. they say they will fight back. ramy: i am ramy inocencio in new york. the u.s. and north korea move ever closer to that summit after high-level talks right here in new york.

you're watching "bloomberg daybreak: australia."'s get to the first word news with courtney collins. the malaysian prime minister has been sworn in promising to lead a business friendly administration. the 92-year-old says his focus will be on growing the economy and reducing debt and there is no case for devaluing the ringgit. he also said much of the money missing from 1mdb can be recovered and those responsible must be punished. [indiscernible] [laughter] [cheering] [indiscernible] courtney: a dam bursting kenya and killed at least 44 people with dozens more missing. water is rushing from the dam and swept away hundreds of nearby homes. kenyan authorities say the flooding is just the start of the rainy season in march and andkilled 170 people displaced more than 220,000. almost three quarters of the 47 countries have been affected. a 100 for your old australian scientist died after traveling to switzerland for an assisted suicide. david did not have a terminal illness but said his quality of life had worsened over the past year.

this is bloomberg. ♪ betty: this is daybreak asia.sident she shipping top economic was plans and onel washington, the increment to keep talking and trump has the did to impose tariffs on 150 billion dollars of chinese goods after a public nds there this e month, and we look at china's trade numbers in the focus given these trade tensions. chief chinas economist at citigroup. interesting -- the u.s. approach is all sticks and no carrots. ite? china b >> the talk was too demanding and china what accept the list given, but there are a lot of places both countries can talk more terms of market access and that the protection. more importantly, making china 2025, all of these areas, there is wiggling room for both sides to have some constructive talks. access,ple, market china in november last year had more or less committed to open up its market wider for u.s. firms, especially in terms of airplane purchases, beef, committedand china is to opening up its financial services perform participation. goodis area, everything is , the u.s. should

daybreak asia is next. that is it for daybreak australia.this is bloomberg. ♪ yvonne: 7:00 a.m. here in hong kong, live from bloomberg's asian headquarters. i'm yvonne man. david: our top stories, off-again, on-again. president trump says the kim summit should go ahead next month. yvonne: his comments following a second meeting between kim and president moon jae-in. all sides say they are preparing for singapore. david: the white house plans for a dte. facebook pushback from congress. marco rubio says there is widespread opposition. yvonne: jay powell make the declaration of central bank independence. he says policymakers are under growing government pressure.

this is bloomberg daybreak: europe. apple announces a $100 billion andob -- buyback program boost dividends after shares of top estimates. the decision day. -- fed decision day. how much could america boost its borrowing? brexit brainstorm. a meeting to discuss the customs union. talks resume in brussels. ♪ >> good morning. welcome to "bloomberg daybreak: europe." welcome to our audience across canada. i know with his early. -- it is early. a bit of breaking news in the drug sector and oil sector. we will keep a close eye in the european session. 1% on the by 4/10 of msci, asia pacific right now. a little lackluster. drifting on the asian session. below 2.97% right now -- at 2.97% right now on the 10 year yield. pce looking near the target. what will they say about inflation in the united states? dollar index down by 1/10 of a percent this morning. themes we were focusing on. we had a lot of corporate reporting yesterday. apple in the headlines. a different cash story from tesla. we will talk about that later. pretty fl

you are watching "daybreak australia."'s government is expected to use tuesday's government to win back disaffected voters before trade tensions between the u.s. and china could undermine the economy. paul allen is in canberra and joins us from the lawn of the parliament house. what are the specifics we can expect in this budget? betty, the key thing we have been hearing about in the weeks leading up to this budget is a big boost in revenue for the government. commodity prices have been a lot higher than what forecast in the previous budget. there has been a boost in the tax revenues which have increased because of the losses they have been able to claim in the wake of the global financial crisis and personal tax revenues are up as well. the deficit forecast is likely to be a lot less than it was last year. surplus also forecast earlier than previously expected, coming by 2019, 2020. the books are expected to be back in the black with a narrow surplus. scott morrison has been speaking to reporters as he often does on budge

you are watching daybreak australia.dent trump has ordered the u.s. commerce department to get back into business, weeks after cutting off from the u.s. ,uppliers area a major reversal who have constantly said china is stealing jobs. usbal growth upturn, joining seniortal investor economist. thank you for joining us. we talked about this marathon, not a sprint when it comes to trade. you think investors are putting food on the fire, or are they -- >> i think over april we definitely saw that investors were taking trade as a backseat because there wasn't much news .ut from that side investors were taking comfort in the economic data which is good over april, but the issue is in may we are going to have to see some resolution around with the u.s. is going to do around chinese imports. i think that will create some volatility in markets, and it will be a negative thing for equities, especially in the u.s. haidi: the kind of tendency to take these surprises from trump tweets, i was surprised to hear this turnaround, the abou

you are watching daybreak australia. this morning, but we have daybreak asia next, taking a look at what is coming up over the next hours in week. david: we are going beyond a week, exactly about a month from now, a little over a month from now. june 22, that is when opec meets. the story last week, when you consider that the price inflation expectations, there was a case to be made for opec ,ot to extend production cuts and we are joined from singapore to talk about that. opec might need to rethink the target market. if it is the five-year average on inventory, and we are there already, he thinks we might see opec adjust their target to seven years, and we will see how that plays out. there is the iranian factor to consider. lots of assets to the oil conversation into the new trade week. betty: there isbetty:. a lot of factors undermining oil prices. let's focus more on the equity chiefs, ubs wealth market investment officer come a quite a long title. he is joining us and he will talk about how investors are focused on

this is "bloomberg daybreak: australia." we are two hours away from the open of major markets. >> it's just after 6:00 p.m. in new york. i am betty liu. we will be looking at all the action on wall street and how it will play into the asia-pacific trading day. inh rising yields not just the u.s., but over in europe and elsewhere that caught investors, equity investors, that weighed on stocks has we see here in the equity markets how we closed. still higher, but off of the session highs, the dow up 68, s&p barely closing up, and the nasdaq also a little higher had went 1%. on's get more details breaking news that happen in our ago. msci reporting in the past hour, 234 chinese companies a-shares included in the benchmark from june. su keenan has the latest on the news. >> big news. it takes the china stock market global. ashave known this was coming msci releases a bi-annual report that came out in the last hour and name the names of more than 200 companies that are being added. again, msci emerging market index. let's take a

welcome to "bloomberg daybreak: asia." asian stocks headed for a mixed start as the fed delivers a bloomberg's asian hawkish hold. signaling inflation rising above 2%, remaining on track for gradual hikes this year. york, wherein new it is just after 7:00 p.m. this wednesday. ing not to submit to u.s. threats. elon musk says tesla should generate cash on profit in the second half as model three production accelerates. ♪ yvonne: shares of tesla falling on a weird conference call that elon musk just held, which we will talk about in a moment. what isn't falling is inflation, it seems. we got some indications in the fed statement they might let inflation run hot. that seemed to spook the markets. i want to pull up this chart that shows where expectations appear to be headed according to the markets. the five year treasury yield, the forward rate even, they are merging with the price of wti crude. expectations are oil prices will perhaps be driving some of those inflation expectations. it looks like the markets might be agreei

fori: that is just about it daybreak this morning, but up next is "daybreak asia." yes, we are talking more about the u.s. and china. there has been a break i guess you could say protect superiority. who has the most unicorns, we've asked that question. robert hillard joining us in a couple minutes time, he has been excited about the private tech companies coming into the public markets. tencent music is one of them. and what excites investors at this stage, because you take a look at the performance of the tech companies in hong kong and bit ago, good doctor, china lit, they have all been well offered. they have had the initial buzz since their listing. is it a sign of exhaustion or what? betty: that is a lot of ipos committed the market, becoming a more credit market. the private banking chief investment strategist has a rasco will be joining us. yvonne: he said his first and favorite place to invest is in asia. quite bullish. inflation there is watching, that is a trend he continues to monitor very closely, as i am sure the fed officials are as well, as we have h

betty: much more ahead on daybreak asia.we use our phones and computers the same way these days. so why do we pay to have a phone connected when we're already paying for internet? shouldn't it all just be one thing? that's why xfinity mobile comes with your internet. you can get up to 5 lines of talk and text included at no extra cost. so all you pay for is data. choose by the gig or unlimited. and see how you could save $400 or more a year. xfinity mobile. it's a new kind of network designed to save you money. click, call, or visit an xfinity store today. i am yvonne man in hong kong. yvonne: first word news with paul allen. betty: paul? paul: a white house economists as described the first day as fairly positive. however, the real test will be china's ability to deliver. it is the first public update on closed door discussions between president trump's economic team and chinese officials. powerful dust and rainstorms have killed more than 100 people as it swept through parts of northern india. the strong storm brought down

that is almost it for daybreak morning. this yvonne and betty are up next with daybreak asia.onne: earnings coming from apple. it seems like for all this doom and gloom and concern about the iphone x, tim cook for now has eased some of those concerns. they raise the earning guidance and looking better for the next quarter. they believe it will gain 2.9% when it comes to unit sales. it is far from that super cycle everybody was projected. we will hear from andy catherine. he says investors are making a big risk on the iphone services revenue, but we did see the 30% growth. still too slow in his eyes. betty: that is right. in a few minutes, we will also be getting south korea inflation data. michael jones is joining us. he will talk about three risks the market, including decelerating global growth. paul: all right. plenty to look forward to in bloomberg daybreak asia. that is all coming up next. this is bloomberg. ♪ we're live from bloomberg's asian headquarters. welcome. the top stories, pacific it equity is set to gain after trade resumes after mayday. treasuries fell. apple

welcome to daybreak asia.hamad leads malaysia to a stunning victory, the biggest powershift since independence. the result will add the nervousness in emerging markets. eps tumbling along with ringgit. >> i am betty liu in new york, it is after 7:00 p.m. wednesday. they are focused on the sprint sale and masayoshi son's

welcome to "daybreak asia." stocks rebound along with treasury yields as investors reassess the reaction to gridlock in italy. set toacific markets extend wall street's advance. all signaling gains. global bloomberg's headquarters, i am ramy inocencio in new york. wilbur ross attacks what he calls slow and rigid institutions. he says the wto causes the u.s. great concern. beijing trade flows with washington, saying their flip-flops are hurting credibility. some breaking eco-data crossing the bloomberg. we are looking at south korea and its industrial production numbers. the actual number that came out, better than expected, 3.4%. the survey we told -- took for bloomberg was 0.9%. this was against the prior month, -2.5%. the fifth out of six down months on a year on year basis. in theseeing a good clip positive relative to the past half year. industrial production year on year came in better than expected, 0.9%. -0.4%.vey was better numbers after the seasonal distortions, the lunar new year. export growth was str

that is about it for "daybreak australia." yvonne fortdave and "daybreak asia.", not a great deal of direction given that we had the u.s. markets closed on memorial day. right across asia, we have the public holiday. liquidity is going to be thin on the ground, but of course, watching oil is a major story. this is bloomberg. ♪ yvonne: it is 7:00 a.m. in hong kong. we are live from bloomberg's asian headquarters. i am yvonne man. dave: i'm david man. form, making an attempt to a government. mr. scissors is put forward, but populist parties say they will bring him down. yvonne: trump is to meet shinzo abe ahead of talks with north korea. reignseopolitics supreme. yvonne: the world of social value investing. we discussed the role of business in society with warren buffett's grandson. ♪

this is bloomberg daybreak. $200 billion all of branch. h its trades to slas deficit with the united states. the trade representative wants that nafta nations are nowhere near close to a deal. angela merkel is due to meet with vladimir putin today to talk trade in the iran deal after european leaders present a united front against donald trump. rome on the radar. the central bank is monitoring spiking yields. >> we have to monitor the situation. it is a change from what has been happening recently, the problems of italy are known by everyone. ♪ anna: good morning. it is on 6:00 here in london. this is "bloomberg daybreak: europe." friday morning. let's have a look at these markets. there is an talk around the trade conversation in china. this is in messier asia-pacific ack -- this is the msci sia-pacific index. war? why are trade we not seeing equity markets react more? will the chinese do that? to?would they try a lot to discuss. why does trump remain doubtful? lots to talk about here. , we have seeneld it moving up at 3.12. just checking

this is "daybreak asia."tty liu in new york. david: i am giving less in hong kong. look at these new global shipping regulations, will support the price of oil for two years? $90 in 2020. lower sulfur levels, fuel, of january of that year. triggering the need for more crude. prices are at the highest level since 2014 as global supply continues to tighten. told mitsuiberg well take part in a wind farm. bloomberg says the project is still in the planning stages and u.s. --uire $1.8 billion u.s. dollars. david: an event for online merchants. they aim to connect retailers with hundreds of chinese manufacturers, to sell directly to american and european customers. it is part of the efforts to evolve from an e-commerce platform to a global logistics operation. taking charge of the remaining business after selling most of its assets to disney. the 46-year-old will assume the roles as a ceo and chairman, in the company referred to as new fox. 's younger brother james was not mentioned in the company statement. david:

. >> this is bloomberg daybreak: europe, and these are today's top stories.race.rump's a road he extends an exemption for steel and aluminium tariffs for the eu, mexico and canada until june 1. matt: confidence lay. the u.s. treasury secretary steven mnuchin tells bloomberg that he is not worried about the bond markets. >> wreps just say, it is a very large, robust market the most liquid market in the world, and there was a lot of support for the market that it can handle. anna: heading to the havens? . this millionaire tycoon says half of his net worth is in gold. my net worth is in gold, so it is a very high percentage. ♪ anna: a very good morning. welcome to "daybreak europe" and welcome to our audience across canada. welcome to the viewers in canada. let us talk to men us about what is going on on the markets overnight. not as much as the normal handover from asia to europe, because the markets are close in europe and asia. but we do have an update on the australian market. no change in interest rates, by the rba, that was a big headline there. closed, ma

this is "daybreak asia."ty: after that backlash from some of his supporters, president trump says he is not happy with the result of u.s.-china trade. has more.ays let's start with of the changing of the tune here with zte. what is going on? kathleen: the trade talks the u.s. team goes to china, the chinese team goes to the u.s. alla cuts auto imports, foreign cars into china. beingks like progress is made. president trump says, yes, he is reconsidering those u.s. penalties on telecom giant zte, that shut down the business. violated the iran and north korea sanctions, selling goods to them. that is what it is about. president trump said, president xi asked me to look at it, it is hurting american companies. now what we may demand is that zte get a new board of directors, we put a big fine on them, up to $1.3 billion. meanwhile, republicans and democrats are pushing back on this. inco rubio tweeted out response to a wall street journal story, suggesting this is in the offing. if this is true, the ministration

you are watching daybreak australia.jobless rate we saw plunging to the lowest level in 18 years, but it has yet to speed up the race of wage increase. our policy editor kathleen hays here with the numbers and some fed reaction to this. there has not been that many times we have seen the unemployment rate go down below 4%. kathleen: that is true, and some officials have predicted we could get but low 3.5 for it -- below 3.5%. why it has made some us news is we are not worried about the economy creating jobs. it is a question of wages. we have nothing this level since 2000. the problem is wages are stuck in a low gear. average hourly earnings were up to 2.6%, third month in a row year-over-year basis. want to look at this chart. you can follow along, even when your favorite charts in a library. the yellow line is falling. that is unemployment. you have average hourly earnings like 2.6%, that is the turquoise line. the white line is employment cost index. a broader measure that includes benefits and wages, they are both ki

more ahead on daybreak asia.plenty more ahead in the next hour of "daybreak asia." we returned to the jpmorgan global summit in beijing. that is coming up in 15 minutes from now. betty: plus, the outlook for a start up with a former jpmorgan chairman. 8:40 hong kong time. this is bloomberg. ♪ ♪ ♪ 8:00 a.m. in hong kong, we are live in bloomberg's headquarters. i'm your yvonne man for your welcome to "bloomberg asia." asia's market start to call the run iran nuclear deal. food prices rebound on the decision. the u.s. is giving allies 180 days to get out of the oil deal. betty: from bloomberg's global headquarters, i'm betty liu, it's just after 8:00 p.m.. jay powell says markets gotten the message on the fed' rate hike pasts and there shouldn't be any surprises. asia's -- malaysia's election, we are going to be live. ♪ yvonne: we are watching the oil price after this pullout of the iran deal. also pulling out, the election happening. polls just opening at the top of the hour. we have to think -- he has to think pr

welcome to "bloomberg daybreak: asia." top stories, president trump cancels the north korean summit and says the u.s. military is ready for anything. a moresident used traditional form a message to convey his message, saying he still hopes to meet kim someday. betty: it is just after 7:00 p.m. in new york. gold stock has gained in a month and yen is rallying. as unlikely as it seems, amazon tries to explain how alexa reported a couples words and kept their conversation on. we wake up over there in asia with some new headlines coming out of north korea. but now instead of rattling the cages, it seems to be more muted. and saying they are willing now to talk with the united states, almost like it seems on their terms, saying the trump summit relationship is unexpected and they wished the trump model could resolve issues and that there is no change in north korea's attitudes toward peace. yvonne: there is concern if this would ignite pyongyang to do more missile testing after a six-month pause. it seems like they are taking c

this is "daybreak: asia."de dominated the global market conversation ever since president trump announced tariffs on steel and aluminum imports into the u.s. the world waiting to see if his first rhetoric is more substantial than symbolic. .et's bring in john he joins us in our hong kong studio. good to see you. we are excited to have you. perhaps the darkest cloud looming over markets in asia. how much do you attribute it -- to these trade tensions? >> when you look back the pass-through months, the market went down in march and came back up in april. one story was the interest rate expectation. the fed expected to raise rates two times in 2018 and perhaps three more in 2019. the other factor was the trump trade war against china. this is something that we --itor quite -- quote closely. there are many possibilities and one of them could be a disastrous scenario. i would caution investors not to extrapolate this than area into . -- the scenario that would not be a wise move. yvonne: the demands are so high rig

aidi: daybreak asia.g a look at what's going on. >> we're not whiskey con sources but perhaps you might have more to add on that. >> i dabble in whiskey. but it's quite early. but you know what, just in the contexts of marks you need more liquid investments looking at financial conditions tighting up there. that's a very bad joke. alicia's coming on the show. she'll receive global markets asia. she overseas pan-say sha to talk about tencent. one question for her. how is the street getting tencent wrong every single time? lots of things to talk about, of course, as we unpack the result from tencent. >> we're unpacking tim packet of rising yield on emerging marketings. jaguar growth partner gary aribrand who has made he isier informsing. does he agree with some of the dire scenarios as outlined by carmen reinhart. >> there' a type we can alleviate that somewhat was ea as we look into the implications. he's there today. tomorrow, going into the end of the week. and also why he says cutting china's u.s. treas

yvonne: you are watching "bloomberg daybreak: asia."'s get some first word news with jessica summers. jessica: prices continue to rise on supply constraints and fears of trade tariffs. the factory and a to 57.3. the production measure dropped from 61 to 57 point two. that is the lowest since november of 20 -- of 2016 biggest decline in the year. u.k. manufacturing slowed more per expected in april area performance continues. pmi came in at 53.9. that is worse than economists had forecast. opec continues to overdeliver on production cuts. cartel pumps the 31 point 8 million barrels a day. and prices fell the most in more than three weeks as the dollar strengthened and traders that on another rise in u.s. stockpiles. it has been revealed that the investigation into alleged collection -- corruption in malaysia includes a fish in oil producer petra saudi. two people are suspected of criminal mismanagement, fraud, and money laundering. authorities are looking into allegations that more than $3 billion was diverted from 1mdb. the world health

stays withr duret us here on daybreak europe.up, eight years on from greece's bailout, we will be speaking with the former finance minister at 4:00 p.m. u.k. time. this is bloomberg. ♪ >> this is world class. usually important issues. >> that is a conversation you don't want to miss. manus: 10:21 a.m. in downtown dubai. 7:21 a.m. in london. markets up and running. .2%. up we went into a bear market last week. a nice carry through from some of the u.s. terrell owens coming through into the middle east this morning. oil is rocking it out above $70 per barrel. that's not bad for the region. juliette saly rocks it every day with a business flash. juliette. thank you. nestle has agreed to enter a partnership with starbucks to market the coffee chain's consumer and food service products globally in a first type of major rivals in the java market. this was company will pay starbucks $7.15 billion up front in cash for a business with annual sales of $2 billion. nestle expects the sales to contribute positively towards organic growth from

this is daybreak asia. i am betty lou in new york.re ing -- ingles hong kong. richard is here for the key things to follow. he talked about oil prices and how the pressures are at the moment. can we sustain our prices? there is also that cap. shell would kick in and we would actually see was applied at some point? oil and moving on to all think straight with the representative from bearings. trade negotiations are taking place there. positive things coming out of beijing in regards to trade with the united states. he will be talking about the significance of how this pending move of china's equities is playing out. concluding with what opportunities they actually see. betty: before we head over to market it asia, to go look at how the markets are trading right now. of course, the focus is on japan after the inflation numbers have come through. the nikkei is up about 3.4%. the cosby is rebounding after the losses that we have heat -- seen here in the united states. market coverage continues next. david: standby for bloomberg markets. t

you are watching "daybreak asia ."et first word news with jessica summers. >> italy may face new elections as soon as july. that is after the prime minister cottarelli left the meeting with the president without an agreement. he will be meeting sergio mattarella later. it could force the president to dissolve parliament and call elections within 60 days. are calling for a new vote as soon as possible. israel has released pictures of air strikes in gaza, following a barrage of mortar shells fired over the border. arming --ry says the bombing was the heaviest since the war of 2014. israel says no one was hurt and most of the mortars were intercepted. they had killed more than 100 palestinian protesters. tony fernandez under investigation in india for allegedly paying bribes. we are told the central bureau of investigation named him and other officials in the inquiry. they say fernandez and others paid officials to gain influence. they denied any wrongdoing and said they are cooperating with authorities. abc has canceled

this is bloomberg. ♪ manus: welcome back to "daybreak."live shot of cigna poor -- a live shot of singapore. you are seeing a drop in asian equities. day.e off the lows of the let's see how the geopolitics plays out. bond yields rising above the 3% level. a post on the eye of the bond market. julia is in singapore for us. lia: the united states is ready to impose sanctions on the european union after there was a ruling that airbus -- after the airbus ruling. this is in addition to president trump's steel and aluminum tariffs. -- elon musk readies a reorganization of the top management team at tesla. bob rudd, who lighted north american commercial and northies sales -- led american commercial and utilities sales have left the company. musk declined to comment further. rudd couldn't be reached for comment. relianced bonds of munication some slumped after an indian tribunal ordered the wireless carrier be placed in insolvency proceedings. a $3.7ision jeopardized billion asset sale. and two of its subsidiary us will decide on the next quarter a

we will keep it here on daybreak australia.is bloomberg. ♪ sitting over the markets in terms of asian stocks, the biggest decline in two months. equities pointing very much lower. early trading showing negatively in the u.s. this is bloomberg. ♪ haidi: a beautiful winter morning in sydney, 8:30 a.m. markets open in about 90 minutes time. futures not looking too poorly. a little bit of negativity. the api asia-pacific falling the most in two months. assets and stocks and currencies as well. i am haidi lun in sydney. ramy: i'm ramy inocencio in new york. it is just past 6:30 p.m. and you are watching daybreak australia. let's get the first word news with jessica summers. jessica: the dallas fed president robert kaplan has caution against beating up the pace of interest rate rises. he says the fed should not knowingly invert the yield curve. san francisco john williams says he is very positive about the economic outlook in the u.s. and abroad. he still sees three to four hikes this year as appropriate. >> the distribution has eith

that is it for "daybreak australia." ♪ >> it is 7:00 a.m.ive from bloomberg's asian headquarters. i am david and glass. -- ingles. a muted session in new york. treasury yields climbing above 3.1%. the longest week of weekly gains and almost three years. round five and counting. betty: from bloomberg's global headquarters i am betty liu in new york. thea said to be offering u.s. a trade surplus sweetener worth

more ahead on daybreak asia. this is bloomberg. ♪ yvonne: this is daybreak asia. i'm yvonne man. the next hour, of course, we continue the conversation on markets, oil specifically. he's not sold on saudi arabia, hinting at raising production. yvonne: interesting call on brent crude. we'll ask him about that here before that currency news, the impact of political uncertainty in europe. strategyave the fx manager coming up in the next few minutes. this is bloomberg. ♪ dave: it is 8 a.m. in hong kong. yvonne: the top stories this tuesday. aia pacific markets of face lower open as risk appetite drains away. oil has the longest run of losses in three months. the latestirssors is to form a government italy. popular say that will bring him down. yvonne: qualcomm -- approval hinges on z.t.e.'s fortunes in america. dave: another day, another summit. trump to meet abe ahead of historic talks with north korea. for the time being, they are still on. the geopolitics and korea looking more favorable. europe is, too. the contagion coming through. the euro faltering once again. basically erasin

yvonne: this is daybreak asia. betty: i'm betty liu in new york.., surging in the cheering the talks with u.s. and china. despite the recent tension. i want to bring in jose rasco. thank you for joining us. are you trading at all or investing at all, based on are week in a trade war or not with china? scenario best kiss that's best case scenario would be cooler heads prevail. clearly, china is in the middle of this secular boom that will last another 10-20 years before they are back to the level to where they want to be in terms of growth and per capita income, so we will see this or these generations fluctuate, but the key thing is we need each other. it is a very inclusive world today and to have a trade war makes no sense. betty: ok, so when you wake up every morning, what would you say is the top issue on your mind, treasury yields, economic growth, is it earnings, what is it? jose: uncertainty in markets. with the the fundamentals are solid in the u.s., we are comfortable with the u.s. economy, and comfortable with asia, selectively. betty: wh

yvonne: i am yvonne man, welcome to "daybreak asia." top stories this friday, positive after wall street's rally to a seven-week high. see you in singapore, president trump confirms the summit with kim jong-un will happen in the lion city on june 12. in newi am betty liu york, after 7:00 p.m. thursday. focus on the economy, mahathir mohamad promising a business-friendly malaysian government. many heads roll after the 1mdb scandal. many rate hikes are likely after slowing growth and inflation. very different day today here in the markets, yvonne. we had tepid inflation data coming out. suddenly investors were thinking the fed would not be so aggressive in its rate hike path. i am not sure why the inflation data was so surprising. take a look at this gtv. it shows the core measure of u.s. inflation has stabilized. you can see just above that 2% level. just above the 2% inflation target. we have seen that for a while, of course noting the wage data won't budge. inflation is pretty mild in the u.s. why so many think the fed will be even mor

this is "bloomberg daybreak." ♪ : this is "bloomberg daybreak." 6:48 in london.is juliette. : deutsche bank is considering a sweeping restructuring in the united states, and it could be cutting 20% of its staff in the region. the company is nearing a decision. final productions may be lower. a spokesman has denied there are such plans. limiting quarter first-quarter company -- the cable it is in talks with vodafone for the sale of much of its european footprint. an $18 billion deal could be announced today. has raised itsm four-year profit forecast on growth in america. increased itsrier adjustment by 100 million euros, to around 23.3 billion euros. that's announced it added more than one million customers for the 20th consecutive quarter. the $26.5 billion deal to take control of its t-mobile unit remains. this is your bloomberg business flash. emirates has delivered full-year operating durham'sf 5.2 billion -- dirhams. the actual full-year profit comes in at 4.11. and north sure is ready to open a launch into the united kingdom . this is the challenge we are se

that does it for "bloomberg daybreak."berg. ♪ >> from new york city, i am alix steel. this is the countdown to the open. ♪ coming up, the italian routes, two year bond yields of the biggest jump on record. weighingall sentiment on global equities and boosting the demand. crude awakening. oil running for its longest run of losses as opec considers boosting its apply. in the markets -- it's su pply. euro-dollar, 115 is how we trade. do we have the kind of italian situation? the 10 year yield, but crude is rolling over with other risk assets. political upheaval in rome spurring variations across assets, and contemplating with the turmoil in italy.

you are watching "bloomberg daybreak: australia."sident trump now mulling , sayingon imported cars the recently agreed deal with china may be too hard to get done. australia's relationship with china has soured since malcolm turnbull raise concerns about beijing meddling with media, university, and lawmakers. let's get more on this. great to have you with us. ,'m looking at this editorial which is an extreme mouthpiece for beijing. one of the things that says is to punish australia, to teach us a lesson, they should cut imports from australia and import more from the u.s. to replace and improve that relationship instead. is there a concern these punitive moves could translate into policy given the relationship? >> look, none of us get particularly worked up by media, whether in australia or china. elements that hyperventilate about the relationship and put for their two cents worth. what matters are the high level discussions that take place, obviously in china last week, positive and constructive discussions with the mayor of shangh

. ♪ ♪ .vonne: this is "daybreak asia "i am yvonne man in hong kong. in am remy innocence new york. wall street fell the most in three weeks. investors are concerned about a lot of things -- trade tensions, growth, geopolitics, as well as rising interest rates. let's head to los angeles and bring in kirk hartman, global cio at wells fargo. good to have you here. i want to get your initial reaction with regards to what is happening with the yield, 3.09% is as high as it got for the u.s. tenure. insaw a little o -- rout equities. is this a sign of a healthy market course correcting? irk: i am not surprised, called this the year of contradictions and volatility. i expected we would test 3% this year for a couple reasons. one, inflation data is it sticking up somewhat. you also have a tremendous amount of supply in the market. i think what is interesting is that add-on affect of the stronger dollar and what that is going to mean. contradictions and crosscurrents in this market. ramy: one thing i am interested in in your note, your optimistic on the front a

"bloomberg daybreak."osition was it was like floating-rate loans and cash certainly. certain pockets of the securitized market, specifically risk transfer securities and shorts. there is still a world where we have $7 trillion of negative securities. you can be sure and earn. definitely keeping liquidity in our portfolios to take a banjo volatility, which will be the defining characteristic of this year. alix: pivoting on to another area of the bond market, mortgages. they felt for tens of 1% last week after falling 2.5% the prior week. joining us now is matt, president and ceo of united wholesale mortgage. seeing reaction to 10 year yield at 3%. matt: we all know and feel rates are going up. less sordability is people are slow to buy maybe when they would be a little faster if rates were different. that's a market we are in with all the things going on. we are seeing that trend. mortgages are low in general and people are buying. david: at what point does an increased mortgage rate hit the housing market?

onnty more to come "bloomberg daybreak: asia."♪ betty: a quick check of the latest headlines. deutsche bank is considering cutting as many as 10,000 jobs in a sweeping overall of the new ceo. they are also said to be retreating from global equities market. we are told they are reducing their presence in the u.s., central europe and africa. being accusedis of deception. allegedly statements from elon musk have made tesla owners believe the car is capable of driving itself. keep the says they have to their eyes on the road and their hands on the wheel at all times. betty: apple is to reimburse users for people who played -- paid full price for battery replacements. the deal applies to work carried and covers iphone 6 and later. eligible customers will receive a mail confirmation by the end of july. this is bloomberg. ♪ yvonne: we are half away -- half an hour away from singapore trading. gdp is growing at a faster pace in the first quarter than anticipated. betty: you are watching "bloomberg daybreak: asia." let's get to the first w

plenty more to come on daybreak asia.his is bloomberg. ♪ yvonne: the latest business flash headlines, qualcomm is reported to be meeting regulators in clearance for its pursuit of an xp. reuters says they will talk to beijing before wilbur ross arise for trade negotiations next weekend. qualcomm says it is cautiously optimistic the merger will gain approval. david: some of china's biggest tech names are buying into what promises to be the mainland biggest ipo of the year so far. we are hearing from affiliates alibaba and tencent investing in the company. it says they are spending the equivalent of $2.15 u.s. a share on 20 million shares ahead of the upcoming shanghai listing. still ahead, central bankers around the world are calling for independence from politics with fed chair jay powell leading the charge. more on what was said, coming up. this is bloomberg. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing room

that is it for "bloomberg daybreak."than: i am jonathan ferro, 30 minutes until the start of trading. this is the countdown to the open. ♪ jonathan: china reportedly did and did not offer to cut the trade surplus by the u.s. one of trade issue that is clear, nafta talks are nowhere near complete, one official for jesting there are massive differences. in italy, we find -- official suggesting there are mastic to francis. in the markets -- suggesting there are massive differences. 1% on the s&pof 500. 1 anddollar back to 117.7 treasuries find a bid to close out, 3.09%. china casting doubt on reports it offer to reduce the annual trade surplus with the united states by 220 --

that is it for daybreak australia this morning.tting up for a little bit of a next open as we had all that volatility in the u.s. session. the market continuing to digest u.s. withdraw from the iran nuclear deal. ♪ eal. ♪ ♪ yvonne: 7:00 a.m. here in hong kong. i am yvonne man. welcome to "daybreak asia." top stories, asian stocks headed for a big open. oil rebounding after president trump pulls the u.s. out of the iran deal. allies regret the decision to reimpose sanctions. betty: from bloomberg's global headquarters i am betty liu in new york. the u.s. and china in a heated wto clash on trade. saying beijing is acting like alice in wan

this is bloomberg. ♪ >> this is "bloomberg daybreak."oeral electric has agreed merge its locomotive business. ge will get $2.9 billion in cash. shareholders will own a little more than 50% of the combined company. blackstone has stepped out of one hotel deal into another. the firm has agreed to buy a luxury hotel owner and an all-cash deal. last week, blackstone sold the last of its hilton worldwide stock. there is a tank over in the banking business today. it is a cash and stock deal valued at $4.7 billion. that is your bloomberg business flash. david: there is a truce and the trade war with china. mnuchin said "we are putting the trade war on hold. we have agreed to put the tariffs on hold while we try to execute the framework." the u.s. dollar is responding this morning. welcome our guest. welcome. the u.s. dollar as shot up. is thee chart shows extent to which there is a negative correlation between the u.s. dollar and emerging-market currencies. up, emdollar goes currencies go down. >> it is pretty significant. we have had a move in