this is "bloomberg." ♪ "daybreak asia are co- asia."ley thinks early performance trends are not reliable predictors or full-year markets. it could look like the year 2000 where things started well but ended badly. joining us now is jonathan gardner. that emerging markets equity strategist. stocks roar these out of the gates. in the developed and developing markets. what are the signals you are seeing where you do see a repeat of history? the parallels are your re-. central banks are tightening. that has begun in the u.s.. theare covering how good china macro has been but inflation is picking up. commodity prices on the rise. that combination, that will eat profits. we have a situation where a valuations are exceptionally high. valuations that are 95th percentile or higher of the long run history. you are describing this, is this just an emerging markets scenario? are we talking about u.s. markets as well? >> there are very few places in the world where we have not targets.our base hang seng, 31,000. we are moving from the central scenar

welcome to "daybreak asia." wednesday, tech back sparking a rally on wall street. across the asia-pacific. bitcoin shows off its new year's hangover. bloomberg's global headquarters, i am betty liu, here in new york. it is just after 7:00 p.m. this tuesday evening. moneygram, a $1 billion deal. it runs out of credit with u.s. regulators. hollywood bombs in 2017. fans of staying at home. but it is a very different story in china. ♪ yvonne: looks like the starting 20 -- story of 2018, hollywood box office. and tech companies in general. we see tech back with a bang for 2018. we have a chart to show how things have performed. g #btv 6742. on the enda backflip of 2017, given how much we have seen these speculations. certainly we are seeing tech well ahead for the year. it looks like this could continue in the short term. betty: that momentum trade continuing. more of a correction in the market makes you wonder what is likely going to lead of the doubt. speaking of the movies, it is too cold here. i could not get myself out the door to go to the movies. i am one of thos

chairman -- turn into daybreak asia.access it by a bloombergradio.com. this is bloomberg. ♪ ♪ yvonne: let's do a quick check of the markets across the region now. in tokyo we are seeing the nikkei 225 up 0.6%. it is still relatively a weaker dollar story, but we have seen the equity market resilient to the yen gains we have seen of late. there was a lot of with saw action with kuroda during demos -- davos when he talked about inflation being close, but this is not really a change in the outlook. plenty to talk about with the crypto hacks and coin check today. there is a lot about the fx as well, the aussie rallying, a lot of bears saying we are heading print0 handle versus 80 in 12 months or so, but the asx seeing gains 0.3%, following wall street overnight. seeing sharesre more than 1% on the kospi. the one also slowing momentum -- won also slowing momentum. take a look at futures in singapore. we see them waiting to higher gains. this is daybreak asia. i am yvonne man in hong kong. betty: i am betty liu. a look at busi

welcome to daybreak asia. the top stories this tuesday -- asia stocks building on wall street records. japan returns for the holidays with the nikkei shooting for 24,000. we are live at the korean border ahead of -- hi stay stocks between the north and south. the first in two years. global bloomberg's headquarters in new york, it is 6 p.m. on monday. bitcoin slapping on monday, worries about demand and regulation dragging down smaller rivals as well. president trump is said to become close to deciding on the fed vice chair. richard clarida is out of the running. ♪ betty: we are watching for the fed news. we continue to watch the gains in the equity markets. i want to pull up a chart that basically everyone can go home, right? what i mean by that is that already with the record rise we have seen in the s&p, a lot of these year-end targets are already being blown out of hsbc, morgan stanley, bank of america. already being reached. everyone can go home, they have made their money, right? [laughter] yvonne: i gues

plenty more to come on daybreak asia. is is bloomberg. -- daybreaktable asia. >> let's do a quick check of markets here in asia. the senate and house agreed to a short-term spending bill. getting a brief rally, but the focus is shifted back to the boj as well. looking a little better when it comes to equities. seeing a little bit of resistance right now, yields -- ing highly flyer futures slightly lower. there will be some indication later on this year. >> thanks so much. a quick check on the latest business headlines. a unit of the aic will buy beijing electric vehicle and become the first state backed manager on the mainland. it will compete with warren buffett and other electric car companies. backing the u.s. in 2015. -- says theport minister --rent standard authors offers no margin oxide -- welcome president male macron to northern france with the announcement of a new $360 million investment. the money will be used to expand and create 800 new jobs by the end of the decade. promotes key to business friendly policies

welcome to daybreak asia.op stories this tuesday in this -- emergingew year markets heading into the new year with currencies rising for a third straight week. bitcoin though starting 2018 with further -- emerging markets heading into the new year with decline, extending the fall from the record seen in the middle of december. ramy: from bloomberg's global headquarters, i'm in new york where it is just past 6 p.m. on a monday. happy new year. china with three years of critical battles with a robust but cooling economy. -- forecasters see its slowest growth since 1990. kim jong-un tells the world north korea's nuclear weapons are a reality and a button is on his desk. ♪ good morning to haidi and good morning to our viewers across the world. we ended 2017 year to date for equities on a high note but we are seeing some volatility possibly happening coming out of north asia with kim jong-un. taking a look at what happened in the last day of trading here, down by half a percent. if you were totally in from 1 throug

this is bloomberg. ♪ ♪ this is "daybreak: asia ." betty: a list -- a u.s. it polices cryptocurrency. southeast asia correspondent is standing by with more on that coin and crypto currency, still a hot topic for 2018. still a hot topic. regulating the crypto space is good, but to what extent should be done? a ceo of a vc is that invest in blockchain startups. controltrying to cryptocurrencies will be difficult to do. good to have you with us. it is good to regulate, but you can't quite control it, why? alex: there's no point in trying to control or ban these things, the technology will move from one area to another, we have seen this in different jurisdictions. in china, a ban on exchanges and later on ipos, we saw a lot of innovations moving to different areas like korea and japan. regulation is not a bad thing, controlling and banning something you don't fully understand is a bad thing. i think the best approach is to examine each of these new technologies on the facts. the facts are the blockchain the second error of the internet, it will change every indu

for us here ont "bloomberg daybreak: asia." what's coming up next. >> yen rise, take a look at back is a truell correction or chance to buy the dips. ♪ i'm haidi lun and this is bloomberg markets, asia. ♪ haidi: following wall street now are pulling back from records that the yen strengthens to a four-month high. tensions also resurfacing. trump calling to complain about the growing deficit. in 18 alien dollar quarterly lost. workers at a

lot is going on in the two hours. >> that is it from daybreak asia. markets, this is bloomberg. ♪ ♪ it is 12:00 p.m. in sydney, 9:00 a.m. in hong kong. this is "bloomberg markets: asia." i am haidi lun. ♪ asdi: the yen at a high governor kuroda moves away from describing easing efforts as aggressive. asia extending on global growth optimism. softbank one of the winners after confirming it may list its japanese mobile unit. a

this is bloomberg. ♪ ♪ david: this is "daybreak: asia."oller coaster continued over the weekend, fluctuating between 11000 and $12,000, down more than 40% since its $19,000 high, just about a month ago. our next guest says the cryptocurrency could fall to as much as $5,000 for finding support. with us to dig into the volatile cryptocurrency is g-v a research ceo david garrity. who has not been covering this on and off again? $5,000 is a big fall. david: if you look at the second half of 2017, after china came out and announced they were going to effectively for bid -- forbid ico's, bitcoin fell but then it came back up. from $5,000 going up to $20,000 of the end of the year. at that point, we had the creation of futures trading by the cme and cboe. one would argue that something is not a real market intel you can actually short it. with futures, you might not be able to short out right but you are moving more in that direction. from a technical standpoint, we can say this move from $5,000 to $20,000 created a huge gap. typically what would

yvonne: welcome to "daybreak: asia". meet for the last time under janet yellen keeping rates on hold. stocks held onto late gains. the s&p running on its best start since 1997. treasury yields in for your high. liu in new betty york and it is after 6 p.m. and wednesday evening and facebook recovering after our losses. asy are shrugging news people are spending less time and facebook, and china h and a on a looming cash crunch. the level of debt in china. ♪ yvonne: some breaking news right now, south korea inflation in january looking soft, we see a 1% year on year estimate -- month-to-month numbers edging lower at 4/10 of 1%, it seems the inflation looking to be getting more soft. inething we do get to see the fourth quarter because we start to see the base effect starting to unwind and the stock currency weakness -- it is certainly playing into that inflation picture and it is essentially -- confirms the analysis that that be ok should bok.on hold -- in the meantime, inflation here looks like it may be picking up pace.

you are watching "daybreak asia ."ep more pressure on the nafta talks when they resume later this week. impact canadall and mexico. the president has repeatedly and hened to dump nafta, will go to the economic forum in davos. >> we are working hard to make sure our neighbor to the south understand how important nafta is and how it has benefited not just our economy, but his economy and the world economy. toare also very much open more trade deals involving more people, as long as it is in the best benefit of all of our citizens. the 11 remaining members of the transpacific partnership have come to a deal, believed to be signed in early march. the accord was reached after days of talks in tokyo, just hours after president trump imposed tariffs on solar panels and washing machines from asia. it would have originally covered 40% of the global economy. the bank of japan quashed speculation tightening is on its agenda, eventually saying, not so fast. governor kuroda says the bank is in no position to consider sinceng curren

much more ahead on daybreak asia. this is bloomberg. ♪ yvonne: this is "daybreak asia." in newi am betty liu york. cryptocurrencies facing scrutiny, now in china. chinese authorities said to be planning to limit electricity use by the use of bitcoin miners, who are starting to look elsewhere now. research, ishinese in beijing. we thought it would be electric cars is sucking up all the electricity. but it is bitcoin miners. how much power do they actually consume? >> we estimate the amount of electricity they consume in china for bitcoin mining is quite minimal. china is the largest power market in the world, you have to keep that in mind. in terms of total consumption, it looks like it is only about 0.2% of the total power used last year. betty: it might be relatively small, but why is there so much mining -- bitcoin mining concentrated in china? the simple reason is because power prices are extremely cheap. there is a lot of cheap, large-scale hydro and pull power in china. but the main reason, since the beginning of 2015, china has been going through a significant peri

this is bloomberg. ♪ ♪ this is "daybreak asia."eck of the latest business flash headlines. alibaba says by the online giant place to open 30 new supermarkets in beijing. it would extend their presence s. the capital to 35 store and their rivals says it will open more fresh food stores. bid fore has been a the u.s. aluminum producer for $2.5 billion. an earlier agreement to sell them to a chinese company was scrapped due to security concerns. one of the oldest names in the retirement industry, the teachers insurance and annuity association manages every $900 billion in assets. strongly believes in denver find portfolios --and diversified portfolios. before we talk about the pension , i would like to ask about the launchedsfit, which this week. huge indications --implications. how does nuveen deal with these changes? passivere seeing investment taking off but now we are differentiating between research and trading and that will impact the industry. it is early days to see how fund managers and staff. absorb theo nuveenh costs, is put

that is it from "daybreak asia." markets covers -- coverage continues. >> it is 9:00 a.m. in hong kong. i am haidi and this is "bloomberg markets: asia". ♪ haidi: asian stocks extending their stellar start. theirthey gives clues on reestablishment plan. goldman sachs finishing out a tough year. running dry, why the world's most

you are watching "daybreak asia appear koke -- daybreak asia." let's get to jessica summers. round of talks in montreal were framed as pivotal with the u.s. ramping up pressure on its partners. the u.s. once more in the coming weeks. new fight is brewing in brexit negotiations with the u.k. pushing back against an october deadline for a deal. davis says nothing is defined until there is clarity. about also shaping up over the terms of the two-year transition. europe says the u.k. must abide by european royals, including the court of justice. the market. in take part in the customs unions. economicto have benefits. apply all rules to the single market. jessica: a top advisor says the minister is likely to stick to a path of fiscal consolidation when the budget is revealed on thursday. it declined to rule out a asitive belt-tightening year before national elections. a hong kong-based blockchain has purchased an exchange following a crackdown. nowcompany says it will sell exclusively on the international market. and anotheroby, exchange. the terms of the deal have not been discl

you're watching "daybreak asia."courtney collins. >> the dollar gained after december fed minutes showed most policymakers backing continued gradual rate hikes. tax cuts toects boost consumer spending and business investment. members continue to wrestle over the outlook for inflation and noted concerns about a flattening yield curve. futures traders but the chances of a march rate rise at 81%. powerfulof iran's revolutionary guard says the antiestablishment protest across the country are all but over. estate news showed government , saying this edition has ended. they gave no evidence to support the claim at least 20 people have been killed in protests over the last week. and almost 1000 arrested. the malaysian transport minister said an announcement will be made next week on resuming the search. they say they are in final negotiations and media reports say a u.s. company sent a the search area. planelaysian airlines disappeared with 239 people on board. a three-year search led by australia was called off last januar

welcome to "daybreak: asia". steve mnuchin champions a weak dollar. lowest in was at its three years. the asian market is set to open lower as well. -- from new york, i am betty liu. president ping says that the world will be surprised, and another bump in the road for self driving cars. the tesla on auto drive hit a fire truck, sparking an inquiry. ♪ betty: quite a surprise here, aurth quarter gdp showing contraction here of 0.2% quarter on quarter. 1/10stimate was a gain of of 1%, a slight down in the prior year. expectations were that this was not going to be a great number, but contraction is a surprise here. it is the first fourth-quarter contraction for the first time since 2008, also year on year, just up 3%. gain somate was a 3.4% not good news here for south korea. yvonne: it was a banner year when it comes to exports, i guess you could blame to the strengthening of the one that there is also a nationalhow they -- holiday in october. the bank of korea upgraded this growth to 3%, so there is still a lot of good with exports still blooming thos

welcome to daybreak asia.es this friday, davos makes news again today, lifting the dollar. weak currency comments from stephen mnuchin. he also offers a lifeline to the dreamers. according a path to citizenship for 1.8 million people. and for bloomberg's global headquarters, just after 7 p.m. on this thursday evening. japan's price gauge rose at the same pace as in the month before. the inflation target is still a long way off. and more evidence of global growth. more improvement at home. and that roller coaster ride we have seen in the dollar overnight after president trump's comments, but he likes a stronger dollar. does it move the needle here for all the dollar shorts out there. at this point, it seems like not the case. take a look at the options market and you are actually seeing traders are still charging more for protections, hedging more against the dollar weakening versus the yen and it there will be more of a bias here for the yen to strength and further. the white line there, seeing this against th

welcome to daybreak asia.he top stories this wednesday, asian-pacific markets will extend wall street decline. this is the biggest two-day fall since may. as warrencks plunge buffett and jamie dimon try to check things up with jeff bezos for the employees. -- their employees. >> looking to apple, the company falling on signs that it is designing -- also, caution is in the air as president donald trump prepares to address the nation and the world. he will call for unity after a deeply divisive year. yvonne: just starting things off with breaking news out of south korea, industrial production numbers missing by a longshot here, here are your numbers, falling 6% for the month of december. we were expecting that we would see a bit of a rebound here of a contraction of 1.5%. we were expecting in october 6% soe saw that plunge in we have not seen the momentum yet when it comes to these numbers even though export growth still remains quite strong. there is a lot going on with the south korean economy in general. some

welcome to daybreak asia.riday, endings the week on a high after wall street bounced back to record levels. rateare waiting chinese data. a trade surplus is narrowing. betty: from bloomberg's global and -- global headquarters, i am betty liu. oil helping drive the market sentiment topping $70 for the first time in three years. fast retailing's global expansion pays off. outpacing domestic revenue for the first time. ♪ yvonne: it seems like the bond bulls are proving victorious, at least overnight. selloff ines to the bonds, a lot to do with the options we saw in the u.s. the last 48 hours. yearso have japan, a 40 auction coming in at 11:45 hong kong time. it will be interesting to see what the demand is like. betty: that will be very important. these yields -- i know we are watching equity markets -- but yields are dominating trade in equity markets and investor sentiment. not surprised by the uniqlo story. i like them, i get them on fifth avenue. let's get the first word news with courtney collins. up, presid

almost on daybreak asia. here's a look at what is coming next few hours. n it comes to our guest. be speaking to mr. nixon himself. demand for high me -- and how that impacts here in asia. also getting in on big coin -- bitcoin which allows regulation of currency. deputy -- >> haidi, thank you so much. stand by for bloomberg markets. is bloomberg. -- this is bloomberg. asias is bloomberg's a are in this is bloomberg markets asia and -- all is and in an

headquarters, welcome to " daybreak asia." adding to records, making it six out of six for the year. the latest moves to give market forces greater influence. from global headquarters, i'm betty liu. our market for bonds, treasury yields soaring ahead of global offerings. and rest these in 2018 as more make a ships of used global capacity -- boost global capacity. ♪ >> the battle of the bond kings taken the market. we are at the end of this a bond , bull run. we are not quite there yet. equities exist for now, i have do a highlight what he thinks is a line in the sand. he says we have further to go in this melt up in guilds. 10 year when.s. this truly becomes an equity story in peoples have to start worrying. we have seen this multiple times and struggled to hold those levels. the asia central banks as well, the boj also in this bond selloff. wety: as you have mentioned, have seen this before and her those calls at the end of the bull market and bonds. we have been wrong. those folks have been wrong. it is a necessity to see i

welcome to daybreak asia.tuesday in this -- emergingew year markets heading into the new year with currencies rising for a third straight week. bitcoin though starting 2018 with further -- emerging markets heading into the new year with decline, extending the fall from the record seen in the middle of december. ramy: from bloomberg's global headquarters, i'm in new york where it is just past 6 p.m. on a monday. happy new year. china with three years of critical battles with a robust but cooling economy. folk after see

live from bloomberg headquarters, i am yvonne man, welcome to daybreak asia. a breather after the u.s. holiday and the dollar sinks for a fourth straight session, helping the aussie and the kiwi. of onlinetarget platforms and mobile apps. i am betty liu here in hong kong in it it is just after 6 p.m. on this monday evening. the iron or shipments hit a record with automation helping boost productivity. plus the

up next is "daybreak: asia." let's look at what is coming up in the next hours and week.ce, you imagine governor kuroda will be asked what happened to the bond failed earlier this month? guessing he might look for another job come april. obviously they need to rethink the yield curve control policy at the moment. we will be asking experts some questions in the context of the boj. ramy: we will also be looking at what mark tinker thinks. equities for asian his company. he says asian equity is moment of -- momentum in value. we will ask him more about that. haidi: talking about the roller coaster ride of a coin and crypto, we are joined by david garrity, talking about the merits of blockchain voices -- versus bitcoin, we saw the biggest two-day performance for bitcoin in 2018 after it plunged below 10,000 for the first time this year. the roller coaster ride continues. and if the regulatory crunch coming and the implications for crypto? that is it for "daybreak: australia." this is bloomberg. ♪ david: it is 7:00 a.m. in hong kong. welcome to "daybreak: asia." lawmakers at m

this is bloomberg. ♪ ♪ kong, i am0 in hong yvonne man, welcome to "daybreak: asia."arts -- stocks looking at a right start. a fed u.s. they to, firms hike. president trump said an immigration deal is probably dead as tension grows to keep the u.s. government funded past friday. in newi am betty lou york, it is just after 6:00 p.m. on sunday evening. wells fargo flagging a surprise $7 billion windfall from u.s. tax reform.

that is it for us, we will get all of the action in "daybreak: asia.". ♪ ♪ we are live from bloomberg asian headquarters, welcome to "daybreak: asia." america isrump says competitive again and called the world to invest in its future. davos ended on a confident mood. delegates say the stock market has every reason to extend their run. betty: and boy they are, i am in new york, it is just after 6:00 p.m. in nafta talks make progress montreal but there is concern that negotiation's may drag on into 2019. and

welcome to daybreak asia. shutdownn reaches a solution.different to the drama on capitol hill. investors turn to high-profile earnings. headquartersglobal , the not that raising his outlook. issues in the past present a were a threat.

haidi: that is almost it for "daybreak: australia," but next.eak: asia" is were looking at the globalis year. yvonne: we certainly are. we will kickstart with the global china conference in shanghai with the global chief economist paul donovan. he says for 2018 his outlook is nothing will change yet everything will be different. the main engines for global growth we saw in 2017, that will start to sputter this year, in look at china.e slower infrastructure investment, slower and the property market. he thinks chinese growth is going to slow despite we have seen upgrades from the likes of citigroup last week for 2018. he said, developed markets are not going to pick up the slack, so the global trade picture could look much different. betty: we will continue this great, high-level conversations at those conference, this one with a university of chicago professor, renowned economist and nobel laureates. in shanghai for a wide-ranging discussion on all thatose topics outlined, yvonne just outlined. china, the u.s. and global economy. haidi: absolutely. you don't want to miss this one, als

welcome to "bloomberg daybreak: asia." asian stocks facing a mixed start after a choppy u.s.ng and the dollar lower. democrats and conservative republicans say a stopgap bill is under threat. is under threat. a vote is expected soon. from -- ty: just after 6:00 p.m. on this thursday. morgan stanley with more bad news on trading revenue. but optimism about the taxty: jn this thursday. cut. spotify

welcome to daybreak asia. uesday -- asia stocks building on wall street records. japan returns for the holidays with the nikkei shooting for 24,000. we are live at the korean border ahead of -- hi stay stocks between the north and south. the first in two years. global bloomberg's headquarters in new york, it is 6 p.m. on monday. bitcoin slapping on monday, worries about demand and regulation dragging down smaller rivals as well. president trump is said to become

welcome to "daybreak: asia" is. the top stories this thursday.her as optimism over tax cuts. apple promises took off up $38 billion in taxes and files 30 billion into u.s. jobs and manufacturing. and from bloomberg's global headquarters, it is just 6:00 a.m. on thursday. goldman sachs finishing with a new low in that training, and how sneakers are helping kick prices at an all-time high.

welcome to daybreak asia.his wednesday, asian-pacific markets will extend wall street decline. this is the biggest two-day fall since may. as warrencks plunge buffett and jamie dimon try to check things up with jeff bezos for the employees. -- their employees. >> looking to apple, the company falling on signs that it is

the come to daybreak asia, talking trade. yvonne: president trump confirms his stances.efense of globalization. from the global headquarters, i am betty lou in new york. betty: central banks make the headlines, the boj governor quashes speculation about imminent normalization and all change at the fed, jay powell is confirmed in the last

. ♪ what the daybreak asia. the top stories this tuesday. trade headlines today.ss for the u.s. -- the stage is set for trends in the transatlantic trade spat. is angered, and brussels says they are ready to fight back. it is just after 6:00 p.m. on monday, and said to follow wall street lower as equity surge grinds to a halt. the

i am yvonne man, look into daybreak asia.nce, sparking a rally on wall street and signs a similar gain of the last age of three today. bitcoin shrugs off its new your hangover on reports that say it is a founders fund that is aching investor. that was enough to send it so i'm from bloomberg's head were -- global high cordis. it is just after six of p.m. on this tuesday, the white house hinting at new sanctions on iran. why they grow increasingly violent and taking aim, speculation is growing that amazon will

welcome to daybreak asia, the top story since wednesday, a mixed outlook from asian stocks after wallng to all-time highs. the nasdaq is making it six out of six for the year. this is a bear market for bonds as treasury yields soar ahead. i am betty low here in new york, this is after 6:00 p.m. on this tuesday, north and south korea agree to military talks but the north says its nuclear program is not on the table. and is tech trending away from apps and back to get this? we will be

welcome to "daybreak: asia". steve mnuchin champions a weak dollar.t its three years. the asian market is set to open lower as well. -- from new york, i am betty liu. president ping says that the world will be surprised, and another bump in the road for self driving cars. the

yvonne: book into daybreak asia. -- the dollar surges as president drop contradicts his own treasuryationro rose as will pick up for it the currency reaching its highest since 2014. and i am betty lou, and intel jumping after hours as revenue beat estimates. despite a security flaw in its chip. president trump

yvonne: welcome to "daybreak: asia".st time under janet yellen keeping rates on hold. stocks held onto late gains. the s&p running on its best start since 1997. treasury yields in for your high. liu in new betty york and it is after 6 p.m. and wednesday evening and facebook recovering after our losses. they are shrugging news

. ♪ emma: this is bloomberg daybreak: asia and this is the hewlett packard greenroom. health care conference, coming up. ♪ emma: now to your bloomberg business flash. in germany, continental considering a possible breakup. according to people familiar with the matter, the company is in talks with advisers. they say continental could create a holding company, and then lose it shares of more profitable units. british sports after martin seeking a billion-dollar valuation and a potential ipo later this year. according to people from other with the matter, it would put them on par with safari -- with ferreri. they are famous for the connections to the james bond movies. the richest person in the world has only gotten richer in the first three days of this year. according to the bloomberg billionaires index, jeff bezos' net worth is more than $105 billion. shares of amazon up 7% this month. they have risen 57% in the last year. that is your bloomberg business flash. alix: the consumer electronic show gets underway in las vegas where the newest technology will be on display,

bloomberg daybreak: asia coming your ♪ catching a falling knife -- ge reports fourth-quarter earningsthe quarter, but standing by its forecast for 2018. live from davos, we hear from james gorman, ceo of morgan stanley. and the dollar continues to weaken and treasury secretary mnuchin says that is a good thing -- at least when it comes to trade. welcome to bloomberg daybreak on this wednesday, january 24, i'm david westin. theill get you a check on market with taylor riggs. taylor: the biggest story of the day arguably is the weaker dollar. here is the bbdxy index, lower after steve mnuchin said a weaker dollar was good for american trade. bearing the biggest front is the yen, the strongest relative versus the dollar going back four months. futures are upp after poking record gains yesterday. david: thank you, taylor. ge just reported earnings for the fourth quarter with a slight miss on adjusted earnings per shar

this is bloomberg daybreak: europe. the msci asia-pacific is up around .8%.h japan out of action, you need to trick that out of the market. but picking up where the united states left off on fridays trading session, the s&p having its best week since december, 2016. this is what we are watching for you this week. tomorrow, the european commissioner president jean-claude younger meets to discuss the disputed overhaul of poland. we will look at the political fallout. hosts a presse-in conference after his country is due to hold talks with north korea. we have heard rumblings this morning from the south koreans on the strength of their currency. friday, donald trump is said to have his first medical examination by a government dr.. how much detail will we get? we don't know, but it will be fascinating to see. developments following on from that, and we will get interesting inflation data. manus: how does one confirm that one is a genius and stable? let's get to juliette saly, she knows i am stable and the genius. good morning. juliette: [laughter] absolutely. ub

daybreak: europe." this thursday morning here in london and let's start with the overnight session over in asia.e've been going through the day , we were in positive territory just a couple of hours ago and now were down about .4% it would waiting for a did lose your data out of china. the growth story for the fourth quarter. industrial production and retail sales due out as well. a strong session in the united states yesterday, the dow closing at 26,000 for the first time. visit smoke and mirrors or earnings and growth? one of the key questions the market will deal with as we head into tomorrow. the couple of things keeping the markets on edge at this age. -- this stage. we have a story that says some at the bank of japan think that at some point, talk of normalization will be needed. that's about as close as we can get to any change in policy at the boj at the moment that it had that kind of expectation. we put in bitcoin as well. we dipped below 10,000 in yesterday's session and the overng range expands $2600 18 hours. manus: vanguard has a warning sign. we will hear from vanguard shortly. gd

daybreak europe. let's check out the markets. picking up where we left off. the mse i asiaacific eating out further gains. we touched all-time highs in the united states in friday's session. we did have some action to talk about. , a yen is steadier now little bit weaker against the u.s. dollar. we have seen a move higher in the japanese currency. had the bank of japan's governor corona guided the market higher, when he was at demo's, apparently not. he was not changing his stance, changing his forecast. busy one.it will be a we have a dollar a little bit stronger, which makes a change after seven weeks of losses. it will be a busy week. yellen is in her last week of the fed. lots of data including jobs data and a state of the union address i president trump. the metal price for you, this is zinc. we could have shown you others, the zinc is up 2.3%. because of the week's dollar affect, lme inventories coming down and that's something that is focusing on how much higher, how much stronger can these metals get. this in the context of the oil rice which has dollar weakness. ma

daybreak: europe." ins 1:48 in the morning over new york. s&p futures saying we can be a little firmer, touching new records on the major indexes in the united states and asiang suit the strong rally, thanks to japan coming back to the fray for the new year. that's get to the bloomberg business flash with juliette saly juliette:. pushed backla has to production target for its model three again after shipping few of this offense and expected. the electric carmaker expects to model threes a week by the individual, delaying plans to reach the milestone by another three months. the company did not come close to achieving an earlier forecast that it would manufacture that many sedans a week but in of 2017. spotify plans to begin trading on the new york stock exchange passing up the traditional public offering for what is called a direct listing. record industry sales of increase for three years in a row thanks to the legions of consumers paying to listen on spotify an apple music. blackberry has jumped to a high of four years. they will bundle a new operating system into it's all paulo -- apollo autonomous car design. the partnership includes integrating blackbe

daybreak: europe." let's talk about the asian equities session. another boy in story for stocks. japanese returning to the market. msci asiaacific up .3%. .t is not all positive samsung is one of the negatives over on the seoul market. their earnings report suffering a little bit because of the dollar weakness. that is weighing on the equity's story a little bit in south korea. our focus on south korea and north korea is around geopolitics. more details of that in the samsung story. let's talk about what is going on in fx markets. later our attention will return to fed speakers. today let's focus in on the yen and euro because interesting moves in both of them. the yen, and overnight story. we see the yen gaining this morning as the boj trimmed some of its bond purchasing. a small tweet to the long ticket buying. governor kuroda told us there is nothing to see in terms of expecting to see any big changes in policy. plenty discuss that with of expert analysis. we have the euro that on the move. the euro was down a half of a percent yesterday. that disappointed the markets and had a stalemate and german political talks. data

daybreak: europe." it is a 7:30 in davos. waking up to another day of deliberations on global trade. they wait patiently for president trump's arrival on friday. the global equity rally taking a pause in asia.s. stocks hit records. msci asia trade pretty flat. china is flat. weakness in japan. a bit of strength in australia. it is a mixed picture. the overall benchmark is treading water. if you look at the next chart, what this is showing is hong kong's stock valuations expanding from the rest of the world. by other measures this is looking like a hot market. , theoth the hang seng highest in a decade, but still the bulls have kept piling in. we are seeing the dollar extended its losses, to a fresh three-year low. it may follow as we look at the , some weakness through concerns around protectionism and developments in u.s. politics. the broadbase dollar weakness has been felt most strongly in the dollar-yen. the yen has been bearing the brunt of it. it is being argued that one await is what you should be level that you should be looking at. this pair tried and failed to breach in april and september of 2017. manus: back in japan they may have something to say about that. the euro is seeing

daybreak, i'm alix steel. the global growth rally we are seeing, the s&p closing above 2700 the first time yesterday, and everything closing at record highs that spread to asiaurope, european stocks seeing the biggest gain in two weeks. the dax is up over 1% after really strong pmi across the board for the eurozone. let's take a look at the other asset classes. writinglar higher, up 6/10 of 1%. the euro takes the dominant strength again, and a selloff in the bond market in europe and in the u.s. as well, yields slightly higher by about two basis point. the curve a touchdown or today -- touch deeper today as well. a 14 dayporting winning streak for copper, a big part of that, over 1%. at $61s well, up over 1% a barrel. we got the minutes from the fomc december meeting yesterday, and we learned what we thought we knew already. many members continue to be comfortable with a gradual pace of rate hikes, and thought the tax hike would only lead to moderate increases in spending and investment growth, and they are still puzzled over inflation. joining us now is anastacia amoroso. heare always anxious to what the fed things, because what they think can affect growth