enda curran wrapping up the very latest moves from capitol hill. first word news with annabelle droulers from hong kong. annabelle: thanks, mama spirit world leaders face mounting pressure to end the use of fossil fuels after a you and backed climate change report warned time is running out to stop global warming from exceeding 1.5 degrees from preindustrial levels. coal is a major sticking point with india facing out of use of the u.k. says it will ease quarantine and travel rules to allow tens of thousands of officials to attend october's top 26 summit in glasgow. in the u.s., the delta waves that started in low vaccination dates in the south have engulfed the country with cases and hospitalizations at their highest since february. 38 states have transmission levels considered higher by the cdc, meaning they are posting at least 100 cases per 100,000 residents. we will have positivity rates of at least 10%. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries

enda curran joins us now. wondering about the longer-term structural dislocations, but now, it's really the immediate fear of the delta variant that is causing all the problems. enda: indeed, haidi. we spoke to a lot of manufacturers in recent weeks and asked them what is their outlook now as we head towards the end of the year and as dr. spreads like you mentioned? and the answer from all of these manufacturers is that they are preparing for the long-haul. they don't see these problems with shipping containers being resolved anytime soon and they continue to complain about shortages of key input materials for their products and there's ongoing disruption as they try and get their products around the world. we are going into the all important holidays for christmas shopping season so this is bumper time for consumers, manufacturers, and shippers. both of them are saying that there is a long jam and that will continue to have an upward pressure affect on inflation and it will have a downward effect on the global

enda curran has been tracking the data. mess, but is it surprised by the scale of the missed? is that the takeaway? enda: i think it is a hefty mess across the board. we know china has been hit by both flooding and the virus outbreak, but the question is going to be just how steep a slow down will be from here? we had some figures out of china earlier saying the virus has dropped dramatically to the low teens. obviously give or take whether the figures are right on the money suggests authorities are getting the spread under control. if that happens, you would assume they would start lifting these restrictions and that would flow back into the consumer story. the big takeaway, be it retail spending, is weakness on the consumer side. that is hinging on the virus control story. manus: good to know the consumer is the global force in america, in china. it all comes down to what we buy and what do we spend our money on? there's a lot of articles written about the pboc, pushed or cajoled into a rate cut. but i look at what they d

yet officials in the country have flagged attractive recoveries looking likely enda curran gap -- and the current gap looks to weigh on currency. flipping the board, a boj official warned of a longer than expected delay in japan due to the delta spread, which is more than 70% of the population under a state of emergency. the boj is maintaining stimulus it optimism over the pace of vaccinations. trading at around 110 pro this morning. -- early this morning. financials weighed the most in asia. tech bounced. shares sinking on the back of reporting its annual net income fell by 79%. flipping the board, australia earnings, some names, including qantas, which joined the rally we saw on wednesday on the back of the pfizer biontech vaccine getting the nod from u.s. regulators. shery: soph, u.s. companies following through on president biden's push for vaccine mandates. some of the biggest institutions have already announced tougher rules within the day of the fda's approval. let's bring in carol wes are -- could these be the game changer in bringing all these unvaccinated people in the u.s.

haidi: our chief asia economics correspondent, enda curran.e regulatory risks in china. investors searching for clues about which industries might be next in president xi shipping's crackdown -- xi jinping's crackdowns. another question, why now? here to help us answer the question is john new. what exactly is driving the crackdown now instead of five or 10 years ago? >> there's a number of factors. one, the tension between the u.s. and china. there's much more divergence between ideologies. the democratic ideals, capitalism that we see in the u.s.. and here in china, which is run by a government that is communist by name, but very marxist in its beliefs. i think that is part of it. the other part is xi jinping has consolidated his grasp on power. we are headed toward a party congress, where we think it is very likely xi jinping will get another tenure as president. so we think he has an ability to move forward this agenda. in the last couple of years, beijing has been busy. a trade war with the trump administration, then the pandemic. they ma

yvonne: enda curran with a wrap up of our data. let's bring in our guest.ke on these numbers so far? haslinda: go ahead, hans. yvonne: go ahead, your take on these numbers. guest: it is not a surprise. we know the covid situation. china obviously is slowing. i think there is no room on policy easing, especially in light of the fact that the deleveraging cycle in china has improved stability. especially for small businesses. yvonne: you continue to see a u.s. 10 year yield that looks closer to getting to 1% than 2%. what do you think markets are pricing in and what do we need for things to reverse now? guest: we have been bullish for u.s. treasuries, and we remain bullish. we look at the interest rate differential between the u.s. and the rest of the world, i think there is more room for u.s. rates to rebound, especially in the fact that the economy in the u.s. is slow into the fourth quarter. we have personal incomes down, exports down. i think also the rise in dollar will lead to a bit of headwind. i think come november, we will see that the fed's tapering

haidi: enda curran, our bloomberg chief asian correspondent.have the division director of macquarie health management, martin lockers. a lot of headwinds when it comes to china. how attractive is this market to you? martin: certainly, looking at the market, on the tech side we have regulatory issues. for investors it will be very much trying to gauge how long these changes are going to take place. that impacts sentiment, in terms of investors jumping in. . but valuations are starting to look more attractive now. don't forget also through july, not only do we have the additional flareups of the delta variant within china, but we have also had the 100th anniversary of the communist party, and the typhoon. that may have some disruptive impact on manufacturing, albeit short-lived. so those numbers will probably be mixed. it is much likely that the pboc will take action more through the money markets, providing additional liquidity, against moving the interest rate at this point in time. haidi: on the policy front the resulting drop we have seen in