you're watching daybreak asia -- you're watching "daybreak asia." jenna degen heart. jenna: a bloomberg survey sees china stepping in to support the yuan when it approaches 6.7 u.s. dollars. that's 1% for low current levels. while the dramatic descent has traders on edge, they are not panicking yet. that's the take away from the paris risk reversal, positioning and sentiment. isomberg has been told china slowing approvals of offshore bonds and whether or not to ban shorted issuance. the move would reduce financing options for debt laden property developers selling bonds at 364 because become popular it did not require ndrc approval. the u.s. and russian presidents will meet in helsinki on july 16, days after what could be a tense nato meeting involving donald trump and america's closest european allies. he has accused nato of irrelevance, and called for russia to be reinstated into the g7. twice met with putin before on the sidelines of international meetings, but this will be their first formal summit. the wall street journal says white house chief

kathleen: this is daybreak asia. am kathleen hays in new york. yvonne: am yvonne man in hong kong. harley davidson shares slumped after it said it is shifting workers from the u.s.. harley had already announced plans to close the factory in missouri and build one in thailand. kathleen: another iconic american brand is in the firing line. jack daniels bourbon says they will have to raise prices in europe once the 25% tariff is imposed. says that retaliatory tariffs will cut earnings for the company 45% this year and next. pain in europes where car stocks fell to the lowest in nine months as proposed u.s. tariffs prompt downgrades. president trump has threatened cars ifffs on european the eu does not take down trade barriers of its own. warning ofhere is a a pullback from the u.k. -- the german automaker has plans for the u.k. and says the ongoing uncertainty over negotiations is not helpful. of comments echo those airbus. we are counting down to the open in japan and korea. let's go to japan. we are expecting to fly a

yvonne: -- julie: "daybreak asia this is "daybreak asia." i am julie hyman in new york.nne: i am yvonne man in hong kong. last week, the online marketplace became the first japanese start up to eval -- devalued at over $1 billion. david ingles is at the tokyo stock exchange is morning for us. good to see you. we talked about the background of this company, more like a app.e sale-type of it's interesting. why do you companies ipo has been so successful -- company's ipo has been so successful? david: not to take anything away from management, who have seen that gap in the market and executed the plan beautifully, it is an untapped part of the market. you walk around japan, the neighborhood, there is a lot of junk lying around. what the company has done essentially is given people and avenue through which they can be clutter their life -- declutter their lives. it is useful stuff. reason is part of the why it has been successful. the other part is they have executed this beautifully, and you look at where revenues are in japan. they are making money here. it is really outsi

that is it for "daybreak asia." rishaad: positivity for asia-pacific markets, getting message from the u.s. payrolls. the fed will be hiking interest rates this month. oil folding losses. she'll rising to the highest production since 2015, hedge cutting bullish bets. all trade grants are off -- trade bets are off to push off the tariffs in hong kong. haidi: i am haidi lun. clouds on the horizon, airlines meeting for their annual meeting. profit forecasts, and the good times are about to come to an

ramy: you are watching "daybreak asia."coming out of singapore right now. nonoil oil exports. 15.5% growth rate again, 15 point 5% growth for may, 2018. april's 11.8ding number. looking at that through the actual survey. estimates blowing get out of the water. the estimate for the survey was 3%. 15.5% for singapore's non-oil domestic exports. good news beating estimates as well as extending april's rise. yvonne: just got some news saying that noble has requested for a trading halt pending some announcements. is before singapore open spirit take a look at my market board when it comes to gmm functions. trade tensions circulated over the weekend with u.s. and china throwing punches into the mix. we are seeing it right across the board with the nikkei 225 headed lower by 7/10 of 1%. as well.be -- kospi korean won continuing to see weakness. let me move this when it comes to the closed markets. we are seeing stronger u.s. dollar on the backdrop here. also, crude we need to watch. continuing to extend those watch -- those watche

more ahead on "daybreak asia." this is bloomberg. ♪ ramy: this is "daybreak asia." encio in new york. yvonne: i am yvonne man in hong kong. less than four minutes to go until the market open in asia. korea closed for memorial day. this is how we are set up when it comes to futures. tokluster when it comes japan. stabilization in dollar-yen. still not able to break above the one hundred 10 of course. aussie futures point to solid gains ahead of that gdp number coming through in the next couple of hours. take a look at the g7 in quebec. we will get more clarity perhaps some the president when it comes to the global trade front. we are looking ahead to the fed and ecb meetings, particularly when it comes to europe and whether mario draghi is going to talk a little bit more about stopping qe. mike mccarthy joining us the next hour to talk us through all things markets, where the dollar goes from here. distress, andin that in particular, and it comes to asia and italy. talking a little bit more about that ahead of that market open, coming up next as well. plenty more to c

this is bloomberg. ♪ this is bloomberg. ♪ yvonne: this is daybreak asia. man. -- i am yvonne man. kathleen: trade fears still dominated markets with asia suffer a big start after u.s. majors lost ground. we mean stocks, bonds, you name it. joining us from pennsylvania is vanguard group global chief economist joe davis. the basic, then u.s. treasury today. stocks looked like they were going to rise, bonds not doing too much. larry kudlow said trump was not retreating on trade, a rally ignited. why? joe: thank you for having me. we went into a year saying the fed was going to continue to march on a gradual tightening pace. we were hard-pressed to see 10 year treasuries breaching 3%. we were above that for some time, but it is reminder there is global forces at play. there is considerable risk and high valuation in parts of the market, equities. we will retrace. we still live in a world where between 2.5% and 3% on the 10 year is a fair value. kathleen: let's look at a bloomberg charge. we have the 10 year yield showing the rally. over the last few weeks, ano

welcome to daybreak asia. this tuesday, asia-pacific markets signal a as traders but protectionism aside in favor of optimism. that move may not last as g7 leaders prepare to meet in quebec. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york, where it is past 7:00 p.m. on a monday. apple takes a swipe at big tex rivals -- tech rivals saying data privacy is important. howard schultz is stepping down at starbucks and some say he is thinking of running for president. all right, yvonne. good morning to you and our asia-pacific viewers. i have to say that looking at the markets, the word of the day is strength for the u.s. economy outweighing all the fears and concerns that we had over the past few weeks or so. about trade tensions and tariff tensions with allies. where thisstion is is going to go in the future, but at least for now, those markets we have definitely strongly in the green, yvonne. yvonne: the kind of wonder. they do have a short-term memory when it comes to trade spats. righ

this is bloomberg. ♪ yvonne: "daybreak asia this is "daybreak asia."-- this is "daybreak asia." i'm yvonne man in hong kong. kathleen: i am kathleen hays in new york. no surprise the trade wars are iconicmain page with american brands starting to feel the pain a president trump's tariffs. the supreme court decision to uphold trump travel ban is our top story. it ends of the also about that started at the start of his term in office and is being hailed as a "tremendous victory" by the president. bloomberg, one of the trending stories is the possible revival of toys "r" us, which could be brought back to life by a former ceo. you can check out those stories trending on bloomberg, online, or on the terminal. topne: getting back to our story, president has signaled he may take a less confrontational of roach towards curbing chinese investment insensitive europe -- conventional approach towards curbing chinese investment. advisor.e now a senior he joins us from washington. jude, good to have you back on the program. i'm focusing on the market backlash in ch

i'm yvonne man, welcome to daybreak asia. asia pacific markets face a mute start after a listless session in new york. investors switch from the summit to central-bank decisions. ten-year yields rose and the euro well. gold and the yen are edging lower. ramy: i am ramy inocencio. at&t is to take over time warner. this will create a powerhouse to challenge amazon and netflix. president trump repeatedly that he can do a deal with kim jong-un. north korea says the pair exchanged rank opinions. opinions. yvonne: this is the day after that historic handshake. this is the summit in singapore. both sides learn? were spinning this as a win for the u.s. and north korea. we had the joint communique. we saw a commitment to denuclearization but they stand on details. first, let's hear from the epicdent during his hour-long press briefing. he will talk about how he will take this bet to trust kim. >> i think that he will do these things. i could be wrong. i may stand before you in six months. i could say that i am wr i don't know that i w

welcome to "bloomberg daybreak: asia." says thefic market global rally on optimism that an all-out trade war can be avoided. ramy: and i'm in new york where it is just past 7:00 p.m. on wednesday. fears of trade war is racking up . jpmorgan says the tension has cost investors more than $1 trillion. we are on countdown to singapore. five days until the summit. washington keeps the pressure on and says north korea must make the first move. good morning to of on and are asia-pacific viewers. on wall street there seems to be icemism that the trade war is fracturing with give on the u.s. and china sides. we will have to see where that goes, especially as we look ahead to what is happening in singapore and ecb possibly normalizing in europe. yvonne: it will be an interesting summit. this is more of a family quarrel right now. is optimistic. this is a very dysfunctional family, based on what has been happening so far. up can see the s&p 500 was 9/10 of a percent. is above the 25,000 mark and the nasdaq gained a record high for th

welcome to "daybreak: asia." asian stocks set to extend their worst week in almost three months, as trade trauma returns. behind-the-scenes, some white house and chinese officials are restart talks. amy: just a 7:00 p.m. on thursday in new york. opec decided to boost output by 700 thousand barrels per day. inappropriater in work-release -- workplace relationship. and a happy friday to you yvonne and our asia-pacific viewers across the region. looking at the markets, we are still not out of the woods, not out of the fog, whatever metaphor you want for this trade will. -- this trade war. markets were very noncommittal, despite one reported fact that white house officials were trying to reengage with beijing to try to head off any worsening of the trade spat. 0.6%.0 down the dow down eight days in a row. the bloomberg dollar spot wall just a fraction higher now. it was down, seeing its biggest fall since may, down 1/3 of 1%. italy appointing two eurosceptics to parliament. the eu saga continues, but this time in the

i him yvonne man, welcome to "daybreak asia." toime yvonne man, welcome "daybreak asia."lly delivers, but cannot lift chinese stocks from a two-year low? the lira surging after president erdogan claiming victory. raising hope of economic private is him. -- privatism. haidi: just turned 10:00 a.m. in sydney. the u.s. and china are caught up in a game of chicken as the eu warns of breakdown in global rules. minister, ourme exclusive interview. yvonne: let's go straight to those live pictures out of -- where president erdogan is speaking to supporters in the city after what look like a decisive victory for him when it came to his party, as well as what we saw in parliament as well. erdogan talking more about coup plots, saying they have escaped to america. opposition.r the the big question still remains for investors about where the president will be taking monetary and fiscal policy moving forward after this election win. haidi: you speak about the opposition. the republican people's party had surprising support going into this election, but didg this -- defeat not think th

ramy: this is daybreak asia. sons in new york. -- i aremy innocence you in new york. yvonne: i'm yvonne man in hong kong. now for lookt at we're watching. asia, citibank ceo for intra-asianct on trade frhehreat of tariffs. tariffs in the pipeline they could come into force at any time. looking at that. going on into how the future of banking evolves. m&a as well. that is a look at that and the bank itself. that is francisco are us to get to -- francisco comin ramy: b wndver, let's gea quick look at how markets dog. the nikk i they are at session highs after starting the day. the asx 200 is in the green. we still need to digest that that statement, that rate hike. rate signalsur when it comes to the rest of the year. it could be an ugly day. down 1% right now. this is bloomberg. all mar ♪ david: you get a call from steve jobs appeared tim: there was a sparkle in his eye that i had never seen before. david: did your friends tell you this was not a good idea? tim: they told me i was nuts. david: warren buffett still

this is "daybreak: asia." w to the ecb's curveball plan to end bond buying while keeping interest rates low. it avoided a repeat of the so-called taper temperature -- taper tantrum. in asia, the boj reduced its bond buying for the third time on thursday, keeping its rates unchanged. thomas murphy joining us from sydney. thanks so much for joining us. let's start with the ecb. we saw a mixed picture from mario draghi, dovish when it came to raising rates. would you call this tightening, considering what we have seen in the past year or so? >> a very modest version of tightening. it flags to the market, yes, it is time to taper the qualitative easing. at the same time, letting the market know, don't expect between june and next year any interest rates. it is smart, because what it does is keeping the pressure on the u.s. dollar, thereby enabling exporters in europe to get a little bit of a retreat. this is a positive for europe. it could boost growth slightly at the expense of u.s. growth. yvonne: there is talk f

daybreak asia is next. bloomberg. ♪ yvonne: we are live from bloomberg's asian headquarters. welcome to "daybreak: asia." asian stocks set to extend their worst week in almost three months, as trade trauma returns. behind-the-scenes, some white house and chinese officials are restart talks. amy: just a 7:00 p.m. on thursday in new york. opec decided to boost output by 700 thousand barrels per day. ceo

go to tv life go. ♪ yvonne: this is daybreak asia. i'm yvonne man in singapore. in new york. let's get a check of where markets are trading in the asia-pacific. japan's nikkei is giving us gains we saw earlier, down .1%. without those core machine orders for the prior month, definitely beating expectations. the kospi is rising at its highest in the early part of the trading day, up by about .3%. currencies on the region, as well. 109.41 there. not much movement for the aussie dollar. this is bloomberg. ♪ yvonne: 8:30 in singapore, a day away from the summit to train president trump and kim jong-un and minutes away from the singapore open here. plenty of action in the markets here, not just geopolitically, but also central banks meeting this week and plenty of data to sift through. i'm yvonne man in singapore. ramy: i'm ramy inocencio in new york and you are watching daybreak asia. let's get first word news now with haidi lun. haidi: president trump and kim jong-un are in singapore for their historic summit. they flew in amid heavy security and will meet at the cu

this is bloomberg. ♪ haidi: this is "daybreak: asia." the asia-pacific investors cooperation summit kicks off in tokyo today, bringing together investment directors from international tension and trust funds. let's go over to the event, where we are standing by with the joint ceo of the u.k.'s most active investment managaer. > 24 coming on the program -- thank you for coming on the program. let's start with trade tensions. it is unproductive for market sentiment, but it is more than that? are we talking transition into markets? >> it is not surprising that we are going through a bit of a pause. the truth of the matter is he's kind of trade tensions every now and again create an air pocket in the market. it is only if we get a substantial follow-through, and those tensions turned into something that comes a strongly -- that becomes a strongly protectionist policy. have seen this happen before. very often what happens is markets take it into account, they have a pause, and further down the track they recover. >> we heard from daimler, they

still more ahead on daybreak asia. amy: before we head and over to bloomberg markets: asia, let's take a quick look at how markets are trading right now. we can see confusion in the closed -- close of the united states. the nikkei is flat. the cosby is down. all the hope that we could break out of this consolidation seems to be fading right now. taiwan as well as, malaysia. singapore stock looks at a gain of about 1/10 of a percent to tech shares are certainly weighing on the markets this morning. ♪ two, down, back up! our phones are more than just phones. they're pocket-sized personal trainers. last minute gift finders. [phone voice] destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet which could save you $400 or more a year. it's a new kind of network designed to save you money. click, call, or visit a store today. rishaad: regional markets five. -- flat. investors looking ahead to the g7 meeting. it may be the most acrimonio

lcome to "daybreak asia the top story this wednesday, u.s. stocks bounce from session lows despite the threat of a trade war, which struck a blow to chinese equities. six straight losses. treasuries rose with the dollar as traitors hedge risk. ramy: from bloomberg's global headquarters, i'm remy and inocencio -- i am ramy inocencio. also ahead, oil under pressure. potential opec output compromise ahead of friday's meeting in vienna. calls china an mix of opportunity and frustration. here is our interview with the goldman sachs ceo and chairman. a very good morning to you, yvonne. a very good morning to all of our viewers across the asia-pacific. it was not a very good day when you look at the markets because of course the big headline that dropped over the course of these past 24 hours was donald trump pulling the trigger for another $200 billion for tariffs on chinese goods at the rate of 10%. not only that, of course, if china decided to retaliate, they decided markets and investors -- yvonne: it was interesting, the market reaction we saw

avon will take us over -- yvonne will take over as we go to daybreak asia.will hear from mark, wrestle ceo. how are they doing -- viewing the market? they just recently launched their ftse total connect index. and we will look at these licensing deals and how they are viewing the situation. kathleen: i will be looking at trade with larry hathaway. early in the year he wasn't so concerned. about whether the federal reserve will keep to that 4% rate hike and what this will mean for the market. >> we know what we are setting up for. it is looking pretty negative. we will have all the action on daybreak asia up next with kathleen and yvonne. this is bloomberg. ♪ yvonne: we are live from bloomberg's asian headquarters. i am yvonne man man and welcome to daybreak asia. trade tensions rattled markets. trading and its major partners face off. tech shares were hardest hit on wall street. the dow down almost 2% and the dollar also weaker. trump administration officials tried to play down plans to limit chinese tech investment on national security grounds but some amer

that is almost it for daybreak australia, but we are up with daybreak asia next. session. we have multi-asset strategy lee ferris joining us to talk about more on the trade front. haidi: also the optimizing of opec. talkinglio manager about this. he said opec is transitioning into a new era to deal with the impact of u.s. shale. we will get his thoughts on the 700 million barrels a day addition. that is it. ♪ what's a gig of data? well, it's a whole day's worth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. >> it is 7:00 a.m. here in hong kong. welcome to "daybreak asia." an election mandate as turkey enters an era of one-man rule. it was not a fair race. than $108nleash more billion in liquidity with the pboc confirming a triple archivist for many banks. from australian headquarters i a

haidi: action on daybreakthe -- the action on daybreak asia is next.loomberg. ♪ yvonne: it is 11:00 a.m. here in hong kong. i am yvonne man. welcome to "daybreak asia." the top stories this tuesday, asian stocks face a shaky start. chinese markets set to return later. akenodities weekend on -- we on protectionism. mike pompeo calling beijing's claims of openness and joke. hyman in new york. this hour, oil climbs as opec considers a compromised output plan to head off an iran- led rebellion.

welcome to "daybreak: asia." cb winds up- the e purchases by year's end.th a promise to keep interest rates low. markets shift toward the boj, looking at the tone of corona's exit -- or kurdoa's exit strategy. >> tech is said to be a target of trump's tariffs,

welcome to "daybreak asia." asia-pacific stocks look set for a mixed open. ecb week's meeting may discuss the end of stimulus. the bond through september. i am ramy inocencio in new york, where it is past 7:00 p.m. on tuesday. fight me mixed trade messages coming out of the white house. president trump will not jump nafta. he would prefer bilateral

welcome to "bloomberg daybreak: asia."bal rally on optimism that an all-out trade war can be avoided. ramy: and i'm in new york where it is just past 7:00 p.m. on wednesday. fears of trade war is racking up . jpmorgan says the tension has cost investors more than $1 trillion. we are

a come to "bloomberg daybreak: asia."asian stocks are set to advance as trade tensions are on the back order. -- back burner. slide continues. a bloomberg survey says authorities are perhaps intervening at a key psychological level. kathleen: and i'm kathleen hays in new york. just 7 p.m. on this thursday. the fed forces six u.s. banks to scale back payouts. deutsche bank fa

welcome to daybreak asia. , asia-pacific markets signal a as traders but protectionism aside in favor of optimism. that move may not last as g7 leaders prepare to meet in quebec. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york, where it is past 7:00 p.m. on a monday. apple takes a swipe at big tex rivals -- tech rivals saying data privacy is important.

welcome to daybreak asia. trade angst hangs over global markets once again. u.s.e and treasuries rally on concern about the crackdown on chinese investment. equities jump on president trump's apparent softer line of the race gains as larry kudlow -- but erased gains as larry kudlow chimed in. .ever again the ministers says they will be no return to the spending habits that triggered a financial fordown -- further win

this is bloomberg. ♪ yvonne: this is "daybreak asia." i am yvonne man in singapore. am ramy inocencio in new york. we are counting down to some of the major market opens in the asia-pacific. for more, here is david ingles. we are looking at gains at the open. if nothing changes over the next 15 minutes, have a look at our futures. .6%are looking mainly at gain, closer to 23,000 on the nikkei 225. australia is reopening. we are below 6000. also watching the south korean markets which we will talk about at the open. have a look at majors. want to note,e the story in italy was positive overnight. yields dropped on the two-year. the other thing i want to point out on this board is sterling. they drop following the contraction in manufacturing. a good day for the dollar, and we are continuing to .ee that filter through this is your wrist monitor for today. dollar-yen pushing back towards this. sentiment is quite positive ahead of that summit. the key cross you want to watch is this one. if this starts to head up, things are in trouble. at the moment, that's pointing lower.

up next is daybreak asia. what are you watching over the next two hours?se it's going to about trade. we're waiting for that announcement on friday from the trump administration on chinese -- restrictions on chinese investment. our guest has some strong views presidentxi, saying he sparked a global backlash that transcends the u.s. and we will see a china's going to cave, given soe trade tensions we have seen. 2012 -- china 2025 has failed in that regard. >> trade is the big question, not just what does it mean for the u.s. economy and growth in other nations around the world, but also if market volatility continues in stocks and bonds. haidi: and that inflation question as well. we will be live in shanghai at the mobile world congress, the seventh year running for this event. we'll talk about the possibility are the potential of the internet of things in china and the rollout of five g across china. that's it for "bloomberg: daybreak australia." this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving comp

in hong welcome to "daybreak: asia."als a pickup in hikes as jay powell says the economy is doing well. u.s. equities, treasuries, and the dollar retreated. bloberg's global headquarters, it is just past 7:00 p.m. in new york on wednesday. president trump says he is about to confront china "very strongly." comcast outbids disney with an all ca

lcome to "daybreak asia the top story this wednesday, u.s. from session lows despite the threat of a trade war, which struck a blow to chinese equities. six straight losses. treasuries rose with the dollar as traitors hedge risk. ramy: from bloomberg's global headquarters, i'm remy and inocencio -- i am ramy inocencio. also ahead, oil under pressure. potential opec output compromise ahead of fr

i'm yvonne man, welcome to daybreak asia.kets face a mute start after a listless session in new york. investors switch from the summit to central-bank decisions. ten-year yields rose and the euro well. gold and the yen are edging lower. ramy: i am ramy inocencio. at&t is to take over time warner. this will create a powerhouse to

yvonne will be staying on with ramy inocencio for daybreak asia.t of great guests, continuing our top stories. right, d-oneis before that crucial meeting. one before that crucial meeting. what could happen when trump meets with the premise of singapore? it is a courtesy meeting. that starts to happen at noon. some professors joining us. he talked about the potential downside, seeing kim jong-un throw a curveball and reach out to trump perhaps for an impromptu meeting this monday morning. trump has talked about having someone on one time before this delegation actually meets with north korean leaders. something to watch. we have the harvard kennedy school professor joining us to talk more. haidi: that downtime meeting with the leaders, they could crash and cram a bit for the cam meeting tomorrow. that is it for daybreak australia. all the action on daybreak asia next. this is bloomberg. ♪ . this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventor

on "daybreak up asia," i will be hanging around for the next two hours.tedng by david ingles, speaking in tokyo at the apec summit. talking about global markets and trade angst, whether we are seeing an emergence from that at this point. yvonne: a little bit of complacency, given some of these trade tensions. the market open is coming up. this is bloomberg. ♪ this is bloomberg. ♪ yvonne: 7:00 a.m. in hong kong. we are live from bloomberg's asian headquarters. welcome to "daybreak: asia." a mixed start for asian start ahead of a global rally on wall street. broke long losing arabia winsudi status. >> opec moves closer to a new output deal with iran moving away from high production and putting their heads

asia." to "daybreak late declines on wall street indicate a lower open in the asia-pacific, futures pointingng, japan, and australia. in new york.d the 10-year yield tumbled nine basis point in the matter of minutes. >> i'm ramy inocencio in new york where it is just past 7:00 p.m. on a thursday. z te is moving closer to a deal. aitics say it doesn't deserve

welcome to daybreak asia.resident trump faces criticism and the cold shoulder. china issued a blunt warning as well. all deals are off the table is the tariffs go ahead. from bloomberg's global headquarters, it is just past 7:00 p.m. on a sunday. bill gross says it will be the last rate hike for 2018. keeping the pressure on. north korea

bullet, guess bullard explains his concerns during an interview with bloomberg daybreak asia.rom relatively rapid gdp growth and strong isor markets into inflation a factor that used to be important and used to be of empirical relevance, but now you look at it today and over the last decade or more, it really doesn't work that way. i am not sure that faster gdp growth itself is going to indicate that inflation is going to move up any faster than it has in the past. so i'm not sure we are really there yet. if you look at dow's fed trimming, it is about 1.8%. sounds like core pce. we have been doing a lot of normalization even before inflation really back to target, much less got above target and got into a situation where we had to tamp down on inflation. i really think we are in a pretty good position right now where we are with the policy rate and where we are with you normalization policy. we could play it by ear and see how that data coming in here. >> one of your colleagues of the past two years gave a speech today in new york and she said the fed is going to do gradual po

reporter: you can see more of our interview with him later in daybreak asia.iday. it :00 p.m. if you are watching in sydney. -- 8:00 p.m. if you are watching in sydney. worries about government scrutiny and skepticism from global bankers. this scare has cryptocurrency falling to a 2018 low from its record high. global news 24 hours a day, on whatnd twitter, powered by 700 journalists in more than 120 countries. i am debra mao. david: let's look at how markets here on the mainland and in hong kong are faring. effecte, it comes into next thursday. that is before this first round of tariffs. currency has been deepening. look at this in this mulch was trade outlook with the renminbi heading for an eighth day of losses. the dollar has the longest losing streak going back to october. a lot of these are tensions between the two largest economies grappling. the u.s. is considering curbing chinese investments in certain u.s. industry citing economic and national security risks. they walk us through what donald trump, steven mnuchin, and others are thinking. guest: this

. ♪ anna: this is bloomberg daybreak: europe. the msci asiaic up with rallying stocks continuing this week. juliette: ubs is said to be cutting jobs to focus on china and sustainable investing. the division has eliminated at least 100 positions in recent months. about 30 of them in the u.s., leslie in new york. the unit miss for cap -- mostly in new york. the unit missed forecast. deutsche bank says it will probably report another quarter of declining revenue for the period through june as it scales back investment banking operations and cuts of jobs. it is accelerating focus on europe and a retreat from wall street, having already announced positions.ash 7000 warren buffett and jamie dimon are doubling down to stop providing quarterly earnings guidance. dimn editorial, buffett and movingthey are urging away from quarterly earnings, saying guidance stifle long-term investments. china's biggest carmaker says the industry faces a major shakeup in the next four years. beijingrman of the automotive made the comments in the recent interview with bl

this is "bloomberg daybreak: europe." the msci asiaific managing to make it back unchanged from yesterday, even the extent of the selloff we saw yesterday. u.s. stocks down yesterday the april.nce emerging markets continue to be under pressure in the early parts of today's session, the chinese markets still -- the chinese equity market still in negative territory, down .6% right now on the shanghai composite. pressure is coming through on the chinese equity market. risese heard mixed from the trump administration in regards to what the report on friday will say about investments in the u.s. tech sector. we have heard from navarro and mnuchin, and corporate as well, about the impact that trade tensions are having on their facilities, jobs and pricing. thinking of harley davidson, so there is lots of talk about now. the dollar is on the back foot once again, the yen getting a bit of a safe haven bid. 10 year treasury yields, another asset that is pretty unchanged, 2.88%. it shows how far we have fallen on the u.s. 10 year yields in the l

asia. "daybreak: middle eas up next. ♪ >> the following is a paid program.es or its employees. >> the following is a paid presentation for theraworks relief. if you are one of the millions of americans who suffer from muscle cramps in your legs or feet, relief is finally in sight. to share somee news that got me excited when i first heard about it. it is called theraworks relief. tois clinically proven relieve the discom o

daybreak: europe. here are today's top stories. asia stocks climb.ndex poised for the worst first half as trade tensions continue to escalate. a united eu boosts the euro. italy's new prime minister reaches a deal. >> more problems for deutsche bank. its u.s. army fails to pass a stress test. u.s. branch fails to pass a stress test. nejra: let's see how the european equity markets will open. judging by futures we could see a list on the ftse 100, dax, and cac 40, ending the week on a high. also for emerging-market equities, rebounding from a 10 month low today. futures pointing higher across the spectrum in western europe as we are seeing. u.s. futures edged higher. the s&p 500 up 0.4%. anna: that is a positive backdrop. let's talk about where the has come from. this is the picture on the asian equity market. we are higher, by 8/10 of a percent on the msci asia-pacific. this is the first time we have said that this week that we are positive in this stage of the trading day. losing 2% of its value, and we see it down again for a 12 day. traders talkin

daybreak: europe." singapore, 1:18 in the afternoon. a strong rally taking place in asia.et's get a bloomberg business flash. bayer is planning to raise money to help purchase monsanto. investors will be able to buy two new shares for every 23 held. 22%'s a discount of about to bayer's closing price. microsoft has decided to purchase github. they chose to sell the company rather than go public. they were last valued at $2 billion in 2015. a spokesperson declined to comment. unicredit is considering a merger. according to the financial times, the italian lenders ceo has been developing the idea for several months. anyfrench bank denied it and callsunicred were unanswered. airbus's newest aircraft has moved the u.s. borders. that the has learned affiliates of singapore airlines opted for the 787. that's your bloomberg business flash. the latest on the market. the shape of the yield curve in the united states might be the most excittopic and fixed income this week. after a mid-may pause, the flirt -- the curve flattened. the phenomenon that dominated for more than a month has

daybreak: europe." it is 1:19 in the afternoon in singapore. asia-pacific under pressure. see the shanghai composite down by 3.1%. this market playing catch-up because they were closed yesterday. the tradefactoring in talk between trump and china. >> teslas elon musk says a disgruntled employee broken to the company's manufacturing operating system and sent highly sensitive data to unknown third parties. in a memo, he says the worker damaging extensive sabotage. an employee who asked not to be identified claims he got the mount. pick agen the fail to leader for a dowdy unit after a six-hour meeting. it comes after the arrest of longtime ceo rupert stadler. a company spokesman failed to elaborate. his arrest in the scandal is the first among vw group's board members. mercari has a sword on its first day of trading in tokyo. it raised $1.2 billion, japan's biggest for a technology company since lion debuted in 2016. it has become the default market for buying and selling goods on smartphone. downloads of the app has reached 75 million in the five years since its debut. thank

daybreak: europe." it is 6:20 here in london, 1:20 or.ingle stocks are a bit high on the asia-pacific index, -- the ms eicific, 1% higher. let as get the bloomberg flash from singapore, here is juliette sally? >> to new heads for asian operations here in single or and for hong kong to simplify its network and reduce cost. the bank has drawn up. plans to consolidate as many as 10 south east and south asian countries, potentially including indonesia and india. standard chartered said "we continually look at ways to optimize the liquidity structures." international paper has ended its pursuit of cover after the irish packaging manufacturer ripped up two takeover offices and refused to engage in talks. the company confirmed it will not make a formal bid today, confirming an earlier report from bloomberg news. the earlier proposals were rejected as being too low. thisatest episode of show with francine lacqua airs tonight. they discuss the future of green energy and the company's debt on electric vehicles. >> today, we are at the beginn this huge curve. in the next year, we will all laugh and how stupid we we

daybreak europe. the conversation will continue. this is bloomberg. ♪ matt: risk off. stocks in asia and europe gets slammed.s and markets -- rattle sabers and markets. around trade and bearish signals from iron ore, copper, aluminum, getting hit. ofare live in portugal ahead draghi's big speech. from philip lane about policy and what we have heard and what we are going to hear. good morning. this is the european open. i am matt miller at the ecb form alongside guy johnson in london de guyum alongsi johnson in london. guy: you are seeing basic resources trading lower this morning. trade is feeling the pressure today. let's give you an idea of what is going on. there are a few things you can take away from this. morningral theme this in the markets is one that is dominated by trade. in the kind of markets we are in a few moments, -- in at the asml, there is a tech story rolling this morning. you can look at the semiconductor market. the number of small idiosyncratic factors driving these individual names, more broadly, it is definitely a stock market this morning. let's get a first word news update. vowed to

asia and europe. this is bloomberg. ♪ >> this is "bloomberg daybreak." i am emma chandra.up in the next hour, scott sheffield, prior me -- pioneer natural resources chairman. david: we turn now to wall street to beat. wild day.deutsche's a major trading loss adds more fuel to the regulatory fire. guggenheim ways a deal. the boutique firm selling stake in its $250 billion asset management unit to global insurers. the world biggest shipping company appoints a female ceo in its first time in the 100 14 year history. about time now. alix: woohoo. t's talk about deutsche bank for a second because this is the u.s. unit that suffered a one-day loss in the first quarter that was 12 times what internal risk officers estimated for regulatory purposes. end ofote the ceo at the this story, many of you are second tired of bad news -- sick and tired of bad news. this is bad news. this is the kind of thing you just do not want to see. david: it is not just losing money, but knowing how much money you have at risk. the bar was way up there. alix: that is the whole point of doing -- deutsc

daybreak europe." in vienna with manus. he is covering all things opec. the hang seng down by .9%. aboutci asia-pacific down .3%.asdaq futures up by .4%. system divergence there, perhaps. that's get the bloomberg business flash from hong kong. daimler has become the most visible global corporation to cut its profit outlook and blame it on the escalating trade tension. the carmaker says pure chinese customers will buy were sated been suvs because of terrorists beijing is slapping on autos imported from the u.s.. two months after projecting higher profit, it said full-year earnings will be slightly lower than last your. crossovers arend made in alabama. shortly -- sharply cut back its ambitions as it starts taking orders for its ipo in hong kong. with its sights on raising $6.1 billion u.s., it is still on track for the world's biggest ipo in nearly two years. china mobile, the nation's biggest wireless carrier and qualcomm are among firms that have agreed to buy xiaomi stock as cornerstone investors. uts tracking argentinian and saudi arabia and stocks have climbed in they trading after the msci gave two countrie