that leaves it for us here on "daybreak asia". "bloomberg markets: asia" is coming up next..m. in hong kong and singapore, 9:00 in the evening in york city. i am rishaad salamat. haidi: i am haidi lun in sydney. this is "bloomberg markets: asia" ♪ rishaad: summons of stability, china saying the economy has improved with little danger of a hard landing. haidi: a different story in japan, data showing weakening activity on the factory floor with machine orders not ex

this is daybreak asia, from bloomberg's u.s. and asia headquarters. am betty lou in new york where it is just after 7:00 p.m.. >> and it is just after 7:00 in hong kong, i am yvonne man. , spoke justayor eight hours after the attacks in westminster. they have heightened security in london, the area around the attacks read we did see changes in currencies, like of the yen being caught up after the news broke. but in the equity markets in new york, not a lot of movement. you would have thought there would be a tiny bit of selloff. investors shrugged off this news and continue to buy up shares, closing at almost the high of the session. yvonne: the pound holding steady, u.s. stocks had a rebound. this was fell during the wall street session. let's see how things are in the asian pacific. we see pressure in new zealand, down a 1/5 of 1%. a benchmark rate unchanged at 1.75%. governor saying policy will remain accommodative. but there are external uncertainties in the international outlook. .7046 right 6 -- now. steps down in australia to meet with official

to come on daybreak asia. this is bloomberg. ♪ yvonne: this is daybreak asia. and it translates to nice pay raises for staff. the annual spring wage talks between management and unions has just wrapped up. he will look at the important points with chris cooper joining us live from tokyo. chris, good to see you. i feel like we have been around this block before. companies paying smaller wage hikes this year? chris: the annual wage talks in call ithe shinto as we here. the spring offensive. one thing to remember, it is back with looking. what happened to the currency last year. what happened was, japan had deflation. in all but one month last year. it isn't any inflation to account for here. the wage increases down from last year. but it is still positive. the other thing is the yen last surged close to ¥100 per dollar. and that is all going to be accounted for in this fiscal earnings which and march 31 this month. based on this time. all right, so it could be a bit dated, but how will this affect consumer spending overall? chris: japan a strike to boost its econ

much more ahead on daybreak asia.ileaks says the cia can hack into devices, including iphones and smart tvs. ♪ ask this is "daybreak: asia," i am yvonne in hong kong. >> i am betty liu in hong kong. the cia has the ability to hack into your smart phones and smart televisions to monitor your conversations and messages, according to wikileaks in an online disclosure today. a big data dump. ramy inocencio look set these troubling details. >> a massive detailed -- data dump that has ramifications for everyone that has a smart phone, which is anyone watching bloomberg or anyone in any developed country. cia has not only one tool, but a hacking arsenal at its disposal. even more troubling, the cia has lost those tools and its people out there have potentially stolen that -- these and have them at their disposal. potentially a group has the ability of the cia, to hack other organizations. let's go through the devices that have been targeted and could be targeted. apple phones, iphones, 50% of the market share, according to i

betty: we have the world covered on "daybreak: asia." how the pboc is intervening while smaller banks struggle with debt. why apple pay has struggled to take a bite out of china. in new york, analysis behind biggest dropd the so far in singapore. we await the latest trade data from japan later. this is "daybreak: asia." i am betty liu in new york. yvonne: it is just after 7:00 a.m. in hong kong. i am yvonne man. drama in the sea. this time, -- drama in d.c. betty: it looks that way. i would be surprised if there was not a carry-on effect at all and as we saw, all the indexes, and that isr by 1% setting up for a day of red in asia. yvonne: risk off. treasuries, gold. new zealand, down 7/10 of 1% right now. we did see earnings come through . the stock being dragged down -- the index down, i should say -- after they cut their index for the year. the kiwi at 7043. down .3% on the asx. 680.ie dollar at 7 six-week highs for the dollar-yen. a bit of ground. 120 for your yen -- for euro-yen. this continue to see that knock on effects from what w

more to come with daybreak asia.pan and south korea about to open in a matter of minutes. betty: we will be watching samsung shares at the open. stephen engle a's is going to tell us what is going on there. smartphone, will it be enough to make up for past sins? it will be taller with curves and facial recognition, ironic given south korea is the epicenter of plastic surgery. it looks like we will be down a 3% to 5%. posted at 1400. a lot to talk about. yvonne: does she received losses don't link to almost $9 million. chapterouse files for 11 protection. betty: theresa may says the uk's taking control of its future. yvonne: take up the pace. the boston fed president says there should be faster tightening and for hikes this year. o may go.iql they say they may quit america if president trump insists on local production. yvonne: this is the second hour of "daybreak asia." i am yvonne man in hong kong. betty: it is just after 8:00 in new york. we're watching overall market reaction to brexit. samsung is one stock on our

. >> this is the second hour of daybreak asia from bloomberg's u.s. d asia headquarters. >> it is just after 7:00 p.m. here in new york. i am betty liu. we are marching ever closer to the friday jobs report here in the u.s.. some see it as the last data points before we get the fed decision next week. it could swing either way. ifit is bad, i do not know that 100% chance holds. >> i know the correlations are not strong. but that adp report was a blowout figure. all but solidified this was 100% when it comes to the fed it next week to read also watching oil very closely. at $50, that hid the energy players in australia. with check out the market sophie. >> oil producers in focus given that 5% drop in wti overnight. we have the nikkei and the kospi coming online. the nikkei 225 snapping a four-day drop, up 4/10 of 1%. a lot of focus given what is happening. toshiba has concerns about chip sales. asahi reporting it may not meet its earnings update by march 14. over on the kospi, up 1/10 of 1%, extending its gains for a fourth day. geopolitical risks for c

a high.s looking at this is the second hour of daybreak asia coming to you live from bloomberg asia headquartersand it is morning here in hong kong. betty: we have had quite a bit of news in the last 24 hours that has propelled equity markets in the u.s. higher carrying over into asia. we just have that breaking news out of japan. the jobless rate, household spending looking much weaker but then factory output and industrial production coming and quite strong. managing editor for japan joining us here in tokyo. what kind of pitcher does this give us about japan. i think we got it right at the start of this segment. mixed messages is exactly what it is. the numbers are germanic and they highlight the split between external demand and domestic demand. external demand, we have seen export growth accelerating led by a rise in shipments into china and the eu especially. that having herds factories to you there -- to keep their capacity utilization rates high. that leads to growth in industrial output. the domestic side is not looking good. household spending is very weak. we had retail sales data las

are covering them all on daybreak asia.nuing talks between chancellor merkel and shinzo abe. they are calling for the strong defense of free trade, and we will see more details when they address the media and go over to germany. i am watching japan trade happening on wednesday. we are expecting the latest official data to show improvement overall. we did see a bit of a blip when it came to the surprising deficit in january. look at the charts. i turned this by 40 years, because we have been on the surplus trend for many decades in japan, and with the exception of these four years after the 2011 tsunami that trigger deficits for four years. we are seeing a rebound, a trend developing, the global demand story is starting to pick up. we are seeing this across the board when it comes to exports as well as imports. we saw the demand for auto parts , ships as well, helping that picture for february. the weaker yen also helping. a bit of a slowdown in oil prices, so that could reduce the import bill. what are you looking at? polit

you are watching "daybreak asia ."get to the first word news with rosalind chin. >> south korea's former leader arrived at the prosecutor's office in seoul to answer questions about the undue influence scandal that ended her presidency. park geun-hye apologized again and said she will cooperate. charges if embezzlement amount to around 1/4 of $1 billion. the fbi has confirmed its investigation into links between president trump in russia during the election campaign. there is no evidence to support the claim that his phone was hacked. an australian from spotless has .eceived a bid they are offering $974 million as it moves away from resources. spotless began as a single dry-cleaning store in 1946 and now employs or to 6000 people in australia and new zealand. shares are up today. a plane has crashed landed in south sudan with all 49 passengers and crew surviving. the flight was operated by a local carrier, self supreme airlines, and was flying from the capital to the northwest when it came down in that area. it's not e

world coverage on daybreak asia. will be live in tokyo with rex tillerson's tour of asia and beijing. movedl analyze the pboc's to raise rates. >> plus, we will be breaking down president trump's first budget. republicans and not happy about it, either. this is "bloomberg daybreak: asia," i am betty liu in new york. it is just after 7:00 p.m. >> it is just after 7:00 a.m. here in hong kong. i am in a man. what a week. at the central bank meetings, budget proposals, and a wild ride in oil. it is looking to be calm, so to speak. betty: calm or even a little bit of a dud right now in the u.s. it has people wondering, what is next? where do we go next in the markets? a little indication, stocks are slightly slower in asia. how are we shaping up? yvonne: post said it is a risk on, risk off feel two things. let's see how things are starting off. yields in the 10 year, the u.s. leading declines. index, more positivity, up 1/5 of 1%. we did get those pmi numbers out that were showing a rebound. we are seeing the kiwi dollar

you're watching "daybreak asia." paul allen joining us live from sydney. f tillerson arrives in japan wednesday for a three nation tour of asia that will offer clues to the trump administration's policy agenda. his trip comes as tensions rise over north korea and with concern about potential u.s. protectionism. onlerson moves on to seoul friday and beijing and the weekend, where he is likely to discuss a presidential summit. the early front-runner of mexico's next presidential election has blasted donald trump's plans for a border wall and negotiated nafta. he told bloomberg trump is waging a campaign of hatred against exiting immigrants. he says mexico should have rocked a u.n. complaint as soon as the wall was announced, and oust to take legal action himself if he wins next year's election. hate againstt only , he is veryers authoritarian. also conversational. that policy is not good for the united states, and not good for the world. ,nd is not good for him because if he continues like this, he will lose the next election. reporter: higher food prices mor

this is "daybreak asia". is in talks to buy aberdeen assess management -- asset management. have shareholders owning two thirds of the combined group. aberdeen has had three years of redemptions, leaving the ceo to cut costs. the world's biggest pension fund posted its biggest court again on record. if return to billion dollars in the three months to january, stocks surging, and a fall in the yen boosting overseas investment. has 80% of stock investments and strategies that track indexes so it benefits when broader markets are rising. yvonne: china's second-biggest copper refiner expects prices to fall this year because of interest rates and risks in your. speculation of president trump's infrastructure project. a senior eu official says president trump's protectionist stance may push other countries into working with the european block. interview, the european commission vice president said the eu wants a trade relationship with the u.s. as soon as possible and awaits details of trump's policies. know thewe

this is daybreak asia coming live from bloomberg, u.s. and asian headquarters. i am betty liu in new york, it is just after 7:00 p.m. after 7:00s just a.m. in hong kong. i am shery ahn. it is not over. so much coming out, janet yellen and others. it was a factor. not to mention, the chinese premier's visit in australia. betty: that is right. more clarity on what he meant by taking trade to the next level. what are we talking about? clarity is really what we need when it comes to that meeting. but also clarity about where we are headed in the u.s. with the health care reform bill after the delay that happened just hours ago. we are expecting to see something on that front. the asian markets anxiously awaiting if there will be changed or vote happening. right now we could see positioning ahead of the weekend. look at the markets in play. it new zealand, unchanged at the moment with the kiwi dollar not doing much. this afternoon it new zealand posted its largest annual trade deficit in eight years. take a look at australia. because it rose in the last session, the

yvonne: this is daybreak asia. betty: i am betty lou here in your. you are watching daybreak asia.o the first word news with paul allen. paul. early factory data from china shows the economy strengthening further. of view shared by smaller the mistake businesses and global finance. the confidence of small and medium-sized companies jumped higher for the first time in two years. the gauge of manufacturing activity remains equally robust. agrees, not everyone that the economy is improving. showserg intelligence players that china will -- sparking fears that china will overcome the progress. >> they have china debt that is unsustainable. the money supply in china is 23 million. in banks, 13 trillion. have another $10 trillion. so, thing, $2 trillion in the last year. paul: president trump is being urged to bring of experts when he meets china's leader for the first time. the national cattle and beef association once him to persuade the china leader to resume imports from the u.s. yearng lifted a ban last but the two sides have yet to agree to terms. some of the world's top miners have

this is bloomberg. ♪ >> this is daybreak asia. i'm betty liu in new york. ne: i'm yvonne man in hong kong p are one of our top stories and is a pacific -- in hong kong. our top stories today in the asia-pacific. what are you going to be watching out for? sayeah, very psyched to that. the u.s. fed has been telegraphing an increase as the rates in the u.s., rba has been telegraphing they are not going to do much. we are on the was watch to see any commentary on the dollar were around unemployment or wages growth and more particularly, household debt and house prices. this is one of the things causing the rba to hold off. the governor saying he does not think the risks to the economy in terms of household tde and house prices are worthb it for just what he calls a bit more growth. debt and house prices are worth it for just what he calls a bit more growth. do not see any change for much of 2017. bank -- tell me about the questions he is being asked and some of his answers. paul: it is pretty similar to what we had from the national australia bank ceo when he ga

you are watching daybreak asia.u mentioned earlier the headlines, this still company seeking a $1.2 billion a share hong kong listing. it looks as though cornerstone investors, dodging international asset managers. 84a fixed offer price of $15 for each share -- $15.84 for each share, how significant is this for the ipo market? yvonne: looking at the size of the deal, possibly one of the biggest we could see coming in from hong kong so far, interesting on securities, the , thet company international company may made headlines. the chairman was missing, confusion with stock prices, so interesting to see how this will perform. this is looking to be like a big ipo for the city. we will continue to watch those from longtime do not -- paul allen. says the pboc governor china is preparing to further open its financial sector but that will allow investigations on how other places treat china. areas of potential liberalization including banking, insurance and payment systems. chinese investors must be to reading better in ov

that is almost it for us on "daybreak asia." sh is joining me now.tinghouse. westinghouse filing for bankruptcy, that has been so reported on now. bank of china, we should see them reacting to their earnings. that is a look at some of the broad themes. betty: tell us what guests you have coming up. a lot, right? ch aad: we have mark talking about brexit at 10:10 hong kong time. take a look at the pound. we have seen a rebound from sterling. also, from the credit suisse conference, talking about consumer confidence, china's consumers are buoyant, but india's consumers are the most buoyant. ♪ ♪ it is 9:00 in hong kong, midday in sydney, 9:00 p.m. in new york. i am haidi lun. rishaad: i am rishaad salamat coming to you from bloomberg's asian headquarters in hong kong. this is "bloomberg markets: asia." ♪ haidi: toshiba faces another is nucleareports unit is about to file for bankruptcy. rishaad: it is "b" day for britain. theresa may will trigger the br

second -- of here, daybreak asia. i am in hong kong, where it is just pack -- past 8:00.vonne, it was an extraordinary market day here in the u.s.. thead it records, 21,004 dow. and it was the busiest day of the year thus far in terms of volume. heavy trading volume. here in the u.s., or i should say million a shares trading in the u.s.. a big day as folks were buying. certainly were buying. especially the dow, more than 300 points up on the board. this bike calls for analyst before donald trump's speech. outlook, if we are not getting details of this address and this speech, we will see a pullback. but it is the opposite now. in asia, as well. the followthrough in the region. let's get to the market opening with sophie. >> to focus more on the fed following what boehner had to say. janet yellen speaking on friday. we did see the dollar-yen rising to a two-week high of about 14.4. say widening rate differentials between the u.s. and japan are helping underpin the stronger dollar-yen. pb to be she does expect j track treasuries lower. we do have a bond reduction that could

this is bloomberg. ♪ yvonne: this is "daybreak asia."e noario draghi change in policy as widely expected at the central bank meeting on thursday. the economy is getting stronger and there is an inflation rise he doubts can last. but we didn the ecb, see the euro strengthened. >> we certainly did. this has much more to do with the subtle shift in the wording of things mario draghi said about the economy, about inflation, about where the ecb is headed next. better balance of risk is a good, positive sign, but there is still downside risk, he said, factors.om global nevertheless, no change is one of the key policy towards -- tools. the central bank said it is going to keep quantitative easing until at least the end of 2017, if not longer. the ecb kept its low interest guidance, rates are going to stay low at least until it turns around its position on quantitative easing. draghi also said there is a wording change because there is no longer a sense of urgency about the economy. we are no longer in a financial crisis, a great recession. the

the second hour of daybreak asia live from bloomberg's u.s. and asia headquarters.e man in hong kong, just after 8:00 a.m. betty: just after 8:00 p.m. in new york. i am betty liu. it feels like deja vu waiting for the snowstorm. we are also waiting for a lot of news events to happen, in particular the fed meeting on wednesday, which we were talking ad nauseam about. we want to get this rate hike out of the way, which seems almost like a near certainty, and find out what is the fed thinking about future rate hikes? that is what is going to dominate the conversation going forward. yvonne: in the meantime, the only thing we can watch that is not trading in a tight range is the treasury yield on the 10 year up to 2.6%. let's take a look at how the market is taking it, pretty upbeat so far. look at the market open in tokyo and seoul with sophie. sophie: upbeat could be one way to describe what is happening in asia. we do have the kospi coming online about .5% higher. we are seeing a marginal drop for japanese shares. we are anticipating the fed meeting with the boj also

you are watching "daybreak asia."y: japan's core inflation rose in january for the first time in 14 months, offering some hope that price gains may the inching towards the boj's 2% target. household spending fell 1.2% from a year earlier, three times the forecast drop. higher inflation is at the heart of japan's economic revival efforts with the hopes of a turnaround pinning on higher oil prices and a weaker yen. shares in snapchat's parent surged on debut, closing 44% higher. snap sold 200 million shares at $17 each. that valuation makes it twice as expensive as facebook and four times more costly than twitter. far,ree analyst reports so to our cell, one is a hold. evan spiegel and bobby murphy are $1.7 billion richer. >> i think it's a reflection of two things. one is how popular the product is and how well the company has executed, and the second is friendly there haven't been a lot of tech ipos, and there is investor demand to invest in companies like snap. slumpedpillar's shares taxmost in months as officials sea

this is daybreak asia.etty: we are watching live, iss is where premier li holding a news conference with prime minister turnbull. lots of in-depth, candid discussions, saying they both agree that they need to curtail north korea, cooperate to curtail north korea. they also did make some agreements on meat boards -- exports to china. shery: north korea is such an important issue, given china's influence over the country. those ballistic missile tests happening in the last few weeks. now we are hearing china's prime year that for me are held in-depth and candid talks with prime minister turnbull. turnbull now saying they will open a new consulate general in china, so they are trying to call for cooperation and those ties -- trying to boost to those ties. betty: and there is a quick line exportthis chilled meat is going to certainly help some of the companies that make this product. certainly watch that in the markets. stay with us on daybreak asia. singapore, half an hour from the start of the trading day. it

you can get your day going with the daily edition of daybreak: asia. "daybreak: asia." he pound, it lights up bloomberg daybreak. this is "bloomberg." yvonne: donald trump's budget proposal has had a frosty reception from wall street analysts and key republicans. cutting the key domestic programs, but a increase in budget spending. my: it is being seen as a reversal of lyndon b. johnson's -- greatiety." society." let's look at the biggest boosts and cuts on a dollar basis. these bubbles are what i wanted to show you. they represent u.s. government programs. the ones in blue get a boost in funding, but the ones in orange, all of these back here, get a cut. defense could the biggest boost -- gets the biggest boost by $52 billion. that is a 10% jump. veterans affairs and homeland security get the next biggest for the ba and 10% but a lotnd security, of other programs would lose a lot of money, about 80 in fact. health and human services would you -- lose about $80 billion in fact. on 2016'sut 25% based budget. and the state department back here would lose about $10 billion,

. >> this is the second hour of daybreak asia. 7:00 p.m. andpast i am kathleen hays. is discussingne the trump speech. yvonne: absolutely. breaking news coming in through south korea with those trade numbers and it was a beat on all fronts. surging 20 point 2%. the estimate was for 13.6% rise. anotheras well, riding estimate. early indications of this, kathleen, when we had the first numbers in the first 28 days of the month, which did stir some 20 some percent. really showing how resilient it is in the face of this political scandal that we do see rockingham south korea. that coming in at 7.2 billion won, and it is a big beat there. kathleen: of course we have seen bright as one of the lights for korea's economy. consumer confidence took a big tumble in january, as you know, and there is a concern that people are not immune to what is going on in their country, and there is a scandal that rocked samsung, the biggest, most powerful company in korea, and the presidency. almagro and on. yvonne: you have to add -- a lot going on. yvonne: you have to add household debt. s

asia. that is almost yet for daybreak australia, but yvonne and betty are up next with daybreak asia.what is coming up. we have an interesting few words coming through from the pboc on opening up, but it does not sound like it will be a one-way street. absolutely, there was a caveat. china is ready to further open its financial chapter, but it depends on how other nations treat chinese investors and how the treatment year overseas in how things will look in the future. there are talks with europe, japan and other aussie on nations -- asean nations. how china can push through these will be key for investors. and this is all amid the backdrop of chinese premier in australia last week. he is now in new zealand with trade at the top of the agenda on this trip. we will be seeing the bank, we will talk to her about how china will step up in this world where we have seen more and more protectionist policies coming out of trump. a lot of questions given the health care fallout, will he be able to be strong about this as he was a few weeks ago ? betty: that is -- haidi: that is what his main f

he joined daybreak asia to dig deeper into the upcoming decision. >> you say the fed is running out of. excuses not to raise rates. is there any left? creative at been times, coming up for reasons why they cannot raise rates. they have run the gamut of those. given the signal they have doeady sent, they would their credibility damage if they did not do it now. the other important part of this two-day meeting, march 14 and 15, the fed comes out with plots. fore was a narrow consensus increases in 2017. do you think that consensus might get bigger or moved to four rate hikes? what would you be voting for? >> my dot was on the high end. i think there would be more consensus closer to three. i think they will still because this. what we have seen it since the election in the markets and performance of the economy is, in fact, the market has gone up. the forecast looks better. but there is more uncertainty around it. policieswords, what the trump administration will deliver, what it will look like, how effective it will be. no one knows for sure. what the fed sees, there is a lot of uncerta

almost out of time, but betty and yvonne are up next in theybreak asia -- next few hours with daybreak asiawe are going to have some data coming out of australia, right on? -- right? >> we are looking for a rebound for the month, because it was not for what we saw in december, the decline of the 10th of 1%. this is what we did see during the holiday shopping season, so we are seeing a turnaround here, as much as 4/10 of 1%. but the breakdown last month seems to be that australia -- they were buying food, clothes, but not hitting the restaurants, cafes, or shopping malls. we are looking for a bit of a turnaround on that front. and regulars coming on at 10 past 8:00. interestinga really contrary in view. this man is saying where is the of we can make money next to her it has not happened over a decade. governments do not want to say it for fear of being politically incorrect. >> well, he should say it. we'll have the vice-chairman of jpmorgan. she is joining us to talk about thetop story, which is target from the npc. ♪ >> china, lowering expectations for growth this year. the emphasis will b

david westin, lawyer, i should f bloomberg o daybreak: asia and former supreme court clerk. tradingalfway into the day. julie hyman joins us with the latest. we have not seen a whole lot of market reaction. there was not really anything in the new, revised order that was unexpected in terms of market impact. we have been seeing a pullback in stocks today, essentially a after the record averages last week. now we are seeing a little bit of a drift. i do want to look at the airlines. they were affected this morning by the fact that delta cut its forecast for a key revenue figure. the company saying there failed to rebound as quickly as it had anticipated. we're also getting theirs me disabilities, new york city included, saying travel visits could be included. foreign visits to this region and others could be affected by the travel ban. that may be contributing to some extent to the downdraft. the dow jones transportation average pulling back by 1%. we are also seeing weakness in retail today. starboard value is no longer interested in a proxy battle with macy's and has been r

we have world coverage on at daybreak asia, live

as for what happens next, they did have the attorney general on bloomberg daybreak: asia who told usxpect. >> it is quite possible that the u.s. government could see an emergency stay of the ruling to appeal with the ninth circuit, and regardless of how the ninth circuit rules, either side would have the option to go to the u.s. supreme court. ramy: he was talking about a u.s. ninth circuit. the ninth circuit, for the first terminal ban, did say it would not go into effect, that it was unconstitutional. it would go to the ninth circuit once more, one more time, puts it into play once again. it could go possibly to the supreme court. shery: this is expected to continue. we have an update on trump's why tappinging -- wire accusations be are they saying? ramy: they say there is no evidence or proof whatsoever so far in this is coming from both the chair of the house intelligence committee as well as the ranking member. at the pressut conference saying there is no evidence for the house nunesigent chair, devin of california. to put this in context, he is a strong supporter of donald trum

he joined daybreak asia to dig deeper into the upcoming decision. >> you say the fed is running out ofraise rates? is there any left? >> well, you know, they have been pretty creative in the last couple of years at times, coming up with reasons why they cannot raise rates. i think they have just about run the gamut of those. at this point, particularly given the signals they have already sent, they would do their credibility a lot of damage if they did not do it now. >> the other very important part of this two-day meeting, march 14 and 15, is that the fed comes out with its summary of economic projections, the famous dot plots. there was a narrow consensus in for three increases in 2017. you thinkmber one, do that consensus might get bigger or even move to four rate hikes? what would you be voting for? what would your dot look like if you were there? of ondot was always kind the high end, but i think there would be more consensus closer to three. i think they will be cautious. what we have seen it since the election in the markets and performance of the economy is, in fact, the market

the dow and eight straight day of ceo will be joining the bloomberg daybreak: asia team in hong kong. new york time. joe: i will be looking at the scottish parliament. they will be expected to vote on whether to demand powers from the british government to hold a referendum. maybe another referendum in the future. scarlet: in the u.s., february retail and wholesale and inventory data comes out at 8:30 a.m. eastern time. joe: don't miss this, we will have live coverage of fed chair janet yellen's remarks in washington at 12 1:50 p.m. attention homeowners age sixty-two and older. one reverse mortgage has a great way for you to live a better retirement... it's called a reverse mortgage. call rfree information kityour with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the ways to receive your money and more. plus, when you call now, you'll get this magnifier with led light absolutely free! when you call the experts at one reverse mortgage today you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your

nowmberg daybreak: asia streaming live from 7:00 until 9:00 every morning. .ou can catch that at bloomberg twitter.com. we will have special coverage of janet yellen's speech in chicago today. this is bloomberg. ♪ jon: more trouble for francois oflon -- over 60 politicians his own party are disowning him with a claim that they can no longer support and when facing charges for embezzlement. first round election voting on april 21. chief joins usau from paris. great to have you on the program. the situation in the last couple of hours. a new poll showing macron ahead of the pen in the first round. talk to me about that. -- mark: aull is poll is just a pull. symbolically important though. the pen has been i had in the voting intentions for well over a year. here we are, two months away. this is quite a big deal. that symbolically, macron is pulling ahead. is within the margin of error of the pull but it is showing what strong momentum this independent candidate, who did not even have a party a year ago, has. there is a lot to play for in this election. fillon and the other candidate, how do t

daybreak australia. we are one hour away from asia upon first major market for the start of the trading week. after 6:00s just here in new york. for the next hour, we will look on wallll the action street will play into the trading day. it is another countdown. we were counting down to the jobs report and that was a fantastic report on the economy, but left people puzzled. looks like we are going to raise interest rates -- now what. look at what the fed officials are going to say what's coming next. you saw the markets on friday. they were higher but it to a low over the session before climbing back. the s&p closing up .3% in the doubt up 40 point. -- the dow up 40 points. expect a lot of uncertainty when the markets open here. number verypayrolls whateverliminating doubt there was that the fed would be able to go with a hike this week. taking a look globally, there's a lot of stuff for investors and traders to be focused on this week. the bank of japan as well as the indonesia.l as bank article 50 potentially being triggered this week as well. take a look at how we are shaping up in new zeal

daybreak team. ceo robin lee on bloomberg markets: asia.nna: up next, hugo boss earnings in a few minutes. 15% this year, will be run continue? the numbers to do on the closing business. this is bloomberg. manus: you're looking at a shot of the best in tokyo. it is 3:13 the afternoon. dollar-yen stronger than the dollar. up to 100% probability for a rate hike or march. that is the state of play on the dollar-yen. we are waiting for breaking news . as soon as we get that we will bring that to you. either way we will be talking about the hugo boss ceo at 8:00 a.m. u.k. time on bloomberg television. waiting for some numbers in fact. manus: there we go. for a 16. million, 489ms 493 million. largely stable for 2017. back in january they guided the markets. they said the operating profit will drop but 70% as opposed to what the market was concerned about. we are talking about stability in 2017. excluding adjusted items. the dividend model we had run here, 2.65. they had from 2000-2015. he has taken over to -- there will not be a profitable return

asia-pacific index unchanged. anna: the new edition of daybreak is available on your bloomberg and mobile. look at the top stories that have made it into today's edition. the cover story is terror in london. world order -- world leaders offered support after the attack left five people dead including a policeman and the attacker himself and wounded 40. speaking outside her home in downing street, theresa may said today will be business as usual for london. >> tomorrow morning, parliament will meet as normal. we will come together as normal. and londoners and others from around the world with -- will come here to visit this great city will get up and go about their day as normal. they will board their trains, they will leave their hotels, they will walk these streets. they will live their lives. ecb: the next story is the will give tanks a last offer of free long-term cash today that moves toward ending quantitative easing and even a rate hike before after. the refinancing operations will be at 10:30 a.m. london time. the take-up made between -- be between 30 billion euros and 750 billion e

daybreak. we talk about brexit. let's talk about china. him talking about asia. what are your biggest concerns? i was the kathy iron ore price. most people look at this in proximity to the chinese economy. been raised.ave should we be nervous about global growth as it relates to china? commodities have been a hybrid story. it is about supply behavior and short-term stock volatility. a story onvery much global growth through the signals that are sent about emerging market demand and stock indices. china clearly remains a central part of the global trade and financial infrastructure. what is disconcerting is this is an economy, and the aftermath of -- the chinese were off the hook. find a startues to conflict between expanding the economy but dealing with legacy debt and that is not an easy negotiation. we have seen that in the aftermath of 2008. officialis is the nonperforming loans number. the china banking regulatory commission said it is 1.76%. b.i. has run the interest calculations and talk about interest ratio. -- in termswhere is of where the real numbers are. has it stabilized, have they

daybreak: europe. i am and edwards. let's look at how we have performed on markets overnight in the asia session.t the equity market rally because it has been a big week for the ventral -- central-bank scene. fed hiking in a dovish fashion. we have start market, global equities, all on the chart to my right. global equities climbed to fresh records this week. has that been overdone? no acceleration in that fed rate hike path. that was the thing that really ignited a fire on the global equities. into the overnight session, is pretty flat to negative actually. some of the emerging market showing a different pattern. some divergence going on there. touching a new record, malaysia and south korea going higher. japan is weaker and as you see, the asia-pacific broadly negative in the session. u.s. stocks yesterday seemed to run out of steam in the rally post fed decision. stocks around half a percent away from the snp new high. volatility retreating after that dutch election result. let's have a look at a couple of currencies. the pound, pretty flat at 123.55. really raising questions about how long it

asia. chinese stocks headed are the worst day in 2017. we will be talking about all these other themes in markets and narratives next on daybreak europe.g up at the top of the hour. this is bloomberg. ♪ . . grexit u.k. gives details of how the eu will be moved into u.k. law. the boston fed president r hikes in 2017 may be needed to protect the economy from overheating. anna: vanishing banking blues. the italy finance minister said banking problems have been solved. >> the problem with the banks is being solved in the sense that there are some critical points but now we're finding the solution within the

daybreak: europe." i'm anna edwards. theerms of where we are on equity markets, let's look at what has happened in the asian session. down 9/10 of a percent on the msci asia if people up there risk radar, how various acids are doing, including the japanese story. we have the japanese market closing up. the u.s. dollar index pretty flat this morning as we saw more fed commentary. wrote that inflation risk moving gradually to the upside. fed commentary this week, is it resetting expectations? 50.1, down by half of a percent. the japanese close on these markets. the topics down by 1%. japan's topix index erasing all of its 2017 games. oft in the broader context the msci asia-pacific down 9/10 of a percent. pretty weak. japanese data with decent core cpi, the first back-to-back year.se in more than a the chinese factory gauge that of the highest in almost five years. if ppi slows and the government takes more action to stem borrowing in the chinese market, that is what we are seeing in the asian equities session overnight. let's have a look at where we are on the futures. we will be weaker across the european equities. when you see the extent of the weakness

daybreak: europe our flagship morning show here in london. i am matt miller. anna: i am anna edwards. we have breaking news on the app or arrival to grab. the largest rival to uber in southeast asia to raise over one and have billion euros. this being led -- backed by softbank. it wasn't clear if the money was coming from softbank or the yet disclosed softbank vision fund. softbank wasn't immediately available to comment. --s according to people with familiar with the matter. center is one and have billion dollars in a new funding round. matt: let's look at where futures are pointing. about an hour from the open of european trading. down.e euro stoxx ftse futures gaining, and cap futures down. very little movement today. the reason is we were expecting health care trump's overhaul yesterday. we didn't get it. congress pushed it forward to today. -- pushed back to today. traders have been essentially sitting on their hands. a lot of people see this as very important as an indicator to the power of donald trump to push through other legislation. more that is why we are fixated on capitol hill than we would normally be. but once we get through this vote, we end up talking about the

daybreak is available on your bloomberg and mobile. let's look at the stories that have made it into this morning's edition. the cover story is the trump trade phase, the stock retreat continues in asiad by japan and hong kong equities after the s&p 500 fell the most since donald trump's election more than 1% for major u.s. indices. his proes among concern growth policies will not go through congress. matt: the next story is the french presidential race. emmanuel macron rose half a point to 26% according to a survey. marine le pen's support slid. so macron is had. anna: daybreak focuses on north korea. the country tested a missile that appears to fail. thisefense ministry gave information according to that defense ministry. laying out the plan to legal process for another scottish referendum. they are expected to give their consent low met -- theresa may has rebuffed the proposal. she prefers to trigger article 50. prelude tomay be a another fight lying ahead and that is the economy. since scotland's referendum the economy and government finances have weakened relative to the rest of the k. grown but moreas slowly than britain's. .et's talk to scott hamilton bt among chairman of many

daybreak. crude is rolling over a bit by one half percent. the headline a little while ago was saudi arabia is cutting its selling price to asia, the u.s.market you raise prices. in an overnight market you lower them. can the dowell hold its gains in the future market with crude rolling over? with us is tom barack, chairman of northstar. wessel.h us is david what is the name of the game. $50 billion when it comes to defense spending. one trillion when it comes to infrastructure. david, where do you cut to get that money? >> that is the big challenge for president trump. he has made clear that he wants to/what we call the nondefense discretionary budget. the annually appropriated spending. of the budget4% and it is not clear how he is going to pay for this increase in defense, let alone the tax cuts. the president seems to be unwilling to tackle what everybody in washington knows is a big part of the problem. of entitlements programs, social security, medicare, medicaid and health programs that are growing up as we have an aging society. the budget director, paul ryan and the speaker of the house have been talking about having to do this