global news, powered by more than 2700 journalists and analysts in more than 120 countries. i am lisa mateo. this is bloomberg. >> any time you have a bank failure like this, bank management clearly failed, supervisors failed, and the regulatory system failed red a tearing approach make some sense . it doesn't need to be the same role for all banks. but we do need stronger rules for firms of this size. stronger rules for capital and liquidity. it will be important. >> the federal reserve over the last couple of days testified on capitol hill. you heard a line. bank management clearly failed. super vials failed. the regular tray system failed. take management failed. they lost the job. supervisors failed, and what will happen to them? specially because a lot of people question whether -- you've asked this question. is it a regulatory issue or enforcement issue? it is a failure to act under provisions where you have the capacity to act and the information to act. how do you solve this problem? >> you've mentioned this. he's probably not the right guy to be on capitol hill over

jp morgan's lawyers had previously fought efforts to have him deposed, arguing he -- global news global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. yvonne: alibaba's historic restructuring may provide a shot in the arm for this year's lackluster ipo market. more analysis on that maybe -- major revamp later on in the show. rishaad: we rev up on earnings, wages automotive industry. that is just ahead. ♪ go. go lights. go big city lights. go spotlights. go stadium lights. emerson software helps clean energy become reliable electricity. go “good night." go boldly. emerson. was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com >> this is a textbook case of bank mismanagement. >> we were seeing serious stress at other institutions. >> we have used important tools to act quickly to vent contagion. >> we will mo

if water on al jazeera, there are some of the media stories a critical look at the global news media spread. on al jazeera government shut off access to social media. from the al jazeera london broadcast center to people in thoughtful conversation, art cannot be easily erased by by the superpower with no host and no limitation. what mattered in all was to be radical. how can the thing that's radical be for say, part one of the highway and denise kiff hall is not about wanting to sell a lot about the messaging studio b unscripted on outs is iraq. ah, chinese president. she ging arrives in russia to discuss beijing's plans of peace in ukraine with president vladimir putin. ah, plugs rama georgia and they were like my headquarters here in doha. also coming up a climate change red alert. a major un report warns the world time is running out to curb emissions. so it's banking, john, u. b. s. rescues. it's troubled, rival credit suisse and a $3000000000.00 takeover backed by the government and south african opposition party says it's protest against the president and rolling pockets have b

global news 24 hours a day on air and on bloomberg quick take powered by more than 2700 journalists and anaylsts in over 120 countries. haidi: australia's centerleft labor party takes power in new south wales. first, why traditional defensive stocks are not of that -- are now dead. our conversation with hilary kramer is next. this is bloomberg. >> policy response has been swift and appropriate. i think it will contain the stress. meanwhile, the real economy has been stronger than expected during the first quarter of 20 23. inflation remains too high. kathleen: st. louis fed president james bullard on the central banks fight against inflation. we are watching u.s. core pce inflation data friday. that is see indicator the fed plays the most attention to and rose zero point 4% in february. i -- on wednesday australia's february cpi report is expected to show inflation easing which could support a case for the rba deposit hikes at the april board meeting. chinese data friday will offer insight into the countries come back after covid restrictions were dropped. bloomberg expects mild acceler

he is expected to leave the hospital saturday after tests global news powered by more than . he has been hospitalized since global news powered by more than 2700 journalists and analysts in wednesday. 2700 journalists and analysts in over 120 countries. i'm john hyland this is bloomberg. >> welcome aboard markets. >> the s&p is up by .8%. institutional investors have been coming into the market and retail has been coming out so watch that. leading the way is the nasdaq one hundred up by 1%. what a quick check on the bond market. the two-year yield down three basis points. >> in terms of the sector stories that are played out over the last few weeks, they are also playing out today. tesla is higher right now by 5% heading into the weekend. we will be watching out for key deliveries data from the ev maker. macron is moving in the other direction and it's interesting in a week when the outlook encouraged investors, the reality of tensions with china are taking a bite out of the stock today. financials are mixed. a willingness on the part of investors to buy-in on some regionals.

this is borderless, global and a shared new financial infrastructure.er ways to push this industry forward. it does not have to come to the u.s.. let's get you back to new york with bonnie quinn. >> president biden is seeking to reassure markets that the u.s. financial system is on solid footing. he promised to all those responsible behind the collapse of signature bank responsible. >> americans can rest assured that our banking system is safe. your deposits are safe. let me also assure you we will not stop at this. we will do whatever is needed. i will ask congress to strengthen the banks to make it less likely this would happen again. according to bloomberg sources, voters will argue the economic environment has shifted and more caution is needed. a half-point increase is in her words very likely as the central bank seeks to tame inflation. the european union may not get a check plan from taiwanese companies if it refuses to engage trade talks. taiwan's semiconductor manufacturing industry is setting up a plant to germany. the department of justice ha

global news powered by more than 2,700 journalists and analysts in over 120 countries. i am lisa mateo and this is bloomberg. ♪ factory. go sensors and software. go find leaks. go fix-em. emerson technology detects compressed air leaks to save manufacturers, like colgate, over 20% in energy costs. go brush your teeth. go boldly. emerson. and move the energy that our world needs. ♪♪ welcome to a new era of energy. >> i called on the prescription drug companies to bring down the price of insulin to $35 to everyone, not just seniors. today, eli lilly, the largest manufacturer of insulin in the united states of america, agreed to do that. $35. guess what that means? every other company making insulin is going to have to lower their prices to early five dollars because they cannot compete. jonathan: a win for the president of the united states. the policy effort in washington, the latest. and esg showdown between the white house and senate. u.s. senate passed the was they were department from enforcing its new esg retirement investing will. if you are not familiar, this is wh

global news -- global news, 24 hours a day, on air and on bloomberg origionals, powered by more thants and analysts in more than 120 countries. i am vonnie quinn, this is bloomberg. haidi: china is expected to hand xi jinping a third term as president, 3000 members of the legislative vote on the key -- on friday, david ingle joins us from hong kong. we know that this is procedural. he has the mandate. guest: that is right, this is election friday in beijing, xi jinping, the only big question is if the vote will be unanimous in the national people's congress later today on friday. back in 2018 there were 2970 votes cast for his second term, he got every single one of them. the question is if you will also get that. in that same year in 2018, lived that year he got the constitutional changes to allow him to essentially rule in perpetuity. he will likely be voted in for president busting third consecutive term in there could be further terms down the road we do not know right now because he has not named his successor. the biggest question today is a do a number of other votes. i can br

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we meet with global news makers and talk about the stories that madam on al jazeera, the normalization of israel's annexation of the west bank and the extremist elements behind it all. $1000.00 cases and counting post earthquake turkish courts are busy policing content online. and the precarious state of journalism in crisis written pakistan. ah, hello richard gilbert in europe, the new home of the listening post where we don't cover the news, we cover the way the news is covered. when hundreds of his railey settlers rampaged on the occupied west bank last week, murdering a palestinian and burning large parts of a village to the ground. that story made headlights as did the killing of 2 israeli settlers just hours before that which triggered the revenge attack. what was absent from most international news coverage was a larger development 3 days earlier. when the israeli government handed control of the west bank from the military over to a civilian, a right wing minister, a settler, that's a little smart, rich human rights activists, including israeli. once say that amounts to a deser

global news powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: still ahead ceo joins us to discuss a deal and some of the other investment opportunities he sees in asia. was apple's into be reshuffling management of its international businesses with a bigger focus on india. we have the details coming up. this is bloomberg. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh ♪ >> we are not on a preset path we have not made any decision about the march meeting we will not do that until we see the additional data. we will be guided by the upcoming data. we're going to be looking at the totality of the data the data we have seen so far this year suggest that the ultimate level of rates will need to be higher. the cost of failure to restore price stability will be extremely high. it would be a bad thing for the country. haidi: jay powell speaking before the house financial services committee. looking to soften a little bit

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. i am vonnie quinn. this is bloomberg. >> up next, saira ann malik shares her expectations. this is bloomberg. ♪ go. go air that runs factory. go sensors and software. go find leaks. go fix-em. emerson technology detects compressed air leaks to save manufacturers, like colgate, over 20% in energy costs. go brush your teeth. go boldly. emerson. >> our next guest says she is playing offense when it comes to emerging markets. joining us now is saira ann malik, ceo at nuveen. good to have you with us. we have seen uncertainty about where emerging markets are going. >> we like emerging markets for earnings estimates, valuations. earnings estimates much more realistic. monetary policy, in many of these markets they are far more ahead of the curve. china is easing, korea is. we also have indonesia, another country with stable growth. india have benefited when china was struggling. >> a lot of these economies you mentioned are trade reliant and we saw e

what is globally new is admission, and on the basis of nine, on the basis of eleven grades and on theasis of vocational education, on the basis of a competition for the average score, documents on education earlier e. based on eleven classes. should have given centralized testing, and on the basis of sanitary education entrance examinations. now uh hmm let's just say a uniform approach to the competition for secondary vocational education, as far as technical education is concerned. there are no such global innovations here. e admission will continue to be based on e, a competition for the average score of a document of education. the only thing i would like to emphasize is that we have slightly shifted the deadlines. uh, the host company earlier it was from june 15 to august 20 this year. reception will be from june 100 to august 23, that is the company extended in order. let's say, let's put it this way , to attract to the vet level those who will not enter the level of secondary specialized education to the level of higher education. well, or let's say so, do not decide yet by the

global news powered by more than 2700 journalists and analysts in over 120 countries. shery: still ahead, china's new foreign minister advises against a containment policy. plus, the latest from the national people's congress next. this is bloomberg. ♪ >> the latest economic data have come in stronger-than-expected. inflationary pressures are running higher than expected. it suggests we still have more work to do. we are very far from our price stability mandate. ongoing increases for the target rate will be increased. the process of getting inflation back down to 2% has a long way to go and is likely to be bumpy but over time, we can achieve 2% inflation and we will. we will stay the course until the job is done. >> fed chair jerome powell delivering hawkish testimony to a senate banking committee. the fed may raise rates by 50 basis points later this month. it's never a dull moment when it comes to the central bank observations. >> the surprise is to some extent the markets were surprised. >> he's being consistent. >> he and the fed have been consistent. the differen

global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. shery: still ahead, china signaling coal real -- will remain its main state fuel even as the -- more on that later. first an update on the beleaguered crypto industry and fresh headaches for traders. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh >> we could still have a soft landing. a mile recession as possible. a hard recession as possible. there's a good chance inflation will come down, but not enough by the fourth quarter, i think a lot is happening in the world, and the bigger trends are inflationary. paul: jp morgan ceo jamie dimon speaking exclusively to bloomberg. our next guest says the rba has little choice but to increase the cash rates by 25 basis points later today. he is the executive director and head of research at k2 asset management. we be hard-pressed to find anyone who doesn't think the rba is g

new york. it is global.s with credit suisse, stop down by almost 23%, just off session lows and record lows. the record low is 1.68 earlier this morning. top shareholder, and saudi national chairman saying will you provide more assistance? absolutely not. we understand that the regulatory issues across that 10% threshold, that i have sent it repeatedly, to say that out loud when the stuck his them as much as it is and now it is down even more. tom: technical analysis, the stock is well contained and trending down, a straight line pause. moments ago, the stock went lower, 1.70, perhaps a test of 1.68. i do not understand what u.s. regulators of credit suisse and fsa do in cabinet square. what do they do? dial 1-800-sweiss-national-bank? jonathan: is there a solution? do they need a solution? i do not know. this name has taken a major hit in today's session. the monetary policy christian is fascinating. present lagarde pre-committed to 50. next week, chairman powell, i keep saying this, a week is a long time f

global news, 24 hours a day on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. click still head with oil prices higher -- hovering near the 15th month -- 15 month low -- we get more on the banking sector. this is not as severe as in past crises. this is bloomberg. ♪ >> i can reassure the members of the committee that are banking system is sound. and that americans can feel confident that the deposits will be there when they need them. this week's actions demonstrate a resolute commitment to enjoy our financial system remains strong. request the overall health of the banking system is still very strong. they are seeing this come from bigger lenders. quick that was has to be a concern. the rise has been in place for about five or six years. this is a culmination of it. this is what happened last year with the mismanagement of the division of portfolios and the fixed income bonds. the backdrop is when you start looking at the capital ratios of the banks being significantly better than what you had, two to three times, liquidity excess re

global news, 24 hours a day.and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. shery: coming up next, a former advisor to boj governor tells us he thinks the decade changed how banks made money. this is bloomberg. this is bloomberg. ent caretaker and owner. when covid hit, we had some challenges like a lot of businesses did. i heard about the payroll tax refund, it allowed us to keep the amount of people that we needed and the people that have been here taking care of us. see if your business may qualify. go to getrefunds.com. haidi: it is time for japan ahead on bloomberg asia. japan makes it -- singapore makes its return to the nikkei since 2012. we will also be watching life insurance, which according to media reports is under investigation by japan's financial services agency over the sale of certain plants. we are tracking progress when it comes to softbank. the chip design unit arm is looking to raise $8 billion from the

is the reality check for four -- four and asset as part of the new global pension market? is a commission of an this opportunity but also roadblocks, regulatory roadblocks and competition. we keep hearing how the pension market will grow to $1.7 trillion, the reality is the global asset managers are off to a slow start and that is the reason -- for a combination of reasons including rent recognition but also dissolution channels. if you look at the ne-yo pension trial we are seeing for the third pillar, 23 banks that have been included that allow local citizens to open those accounts are all domestic banks, and the lack of convenience for foreign asset managers can distribute their products directly to the chinese buyers, and that is a great challenge for these banks to have a larger share of the pie. >> why is china pushing ahead with these reforms? >> long-term, it is a thing that needs to happen, china's pension program, the savings program run by the government for urban employees, could likely run out by 2032 according to analysts. if you look by the aging population

global news 24 hours a day on air and on bloomgerg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. i'm lisa mateo and this is bloomberg. ♪ go. go brain. no, not that one. go this one. go optimizing data. go efficiency. go results. emerson's plantweb digital ecosystem is the brain for smarter, safer and more sustainable performance. go plant go. go boldly. emerson. get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can help get you there. j.p. morgan wealth management. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. >> the fed's goal is to slow inflation if you hit your projections do you know how many people who are currently working >> >> will lose their jobs? inflation is extremely high. it's hurting e

that's global news powered by analysts in over 120 countries.om: the leadership of china's central bank is currently in focus, as the governor nears retirement age. for a deeper dive on the candidates, here is bloomberg's chief north asia correspondent stephen engle. >> and unexpected overhaul of china's financial regulatory over regime would put key if not might policies in fewer hands and centralize it under xi jinping. unlike past lineups, academic or international credentials won't be preferred. a close confident of xi will be central to this reshuffle. he is expected to be chief of the central bank, as well as successor to the economic czar. the last premier took a top position had a to form style in the mid 90's that combated inflation. the next pboc governor could be a better in banker, and most recently the chairman of a state owned financial conglomerate. unlike the current governor, and the party chief, neither of them have reputations as academics or economic theorists. analysts feel the moves to install them could usher more pragmati

news. . vonnie: the goldman sacs banker has been sentenced to prison. he was accused of launderingoldn $2.9 billion to u.s. authorities and more than $5 billion globallye in the scam. the fed is assembling a new crypto focused team to ensure it is on top of developments in the asset class. the vice chair for supervision says the group will help bolster the oversight abilities as the central bank works on additional crypto guidance. u.s. officials have taken a more aggressive stance on crypto regulation. norfolk southern is accused of lacking transparency after the spill in ohio. their ceo's faced a tough grilling after one of its trains derailed in alabama. shaw faced a heated amount of questions to the railroad's policy on sick leave and staffing. >> i want to begin by expressing how deeply sorry i am for the impact this derailment has had on the residence of east palestine and the surrounding communities. i am determined to make this right. vonnie: a new york judge has ordered jp morgan to turn over more records from ceo jamie dimon to the u.s. virgin islands. the order is related to a lawsuit accusing the bank's private banking had of protecting je

global news 24 hours a day on air and on quicktake. journalists and analysts in over 120 countries. i'm leigh-ann gerrans and this is bloomberg. ♪ >> the banking system is pretty sound and we are talking about a few banks. we heard it from chairman powell today this is not something spread across the entire banking system. this is not the credit crisis. this is a situation where it is a few banks. tom: very important to note the leader of citigroup, jane frazier in conversation with david rubenstein look for that important for conversation. tonight at 9:00 p.m. for those opening in asia it's a big -- lisette really extraordinary to see jane frazier speaking there versus the conversation with david westin. it seems a million miles away. lisa: there needs to be some sense of confidence not just in the banking system but a question around the role of the big banks in supporting smaller ones and that is something that came to the floor over the past few weeks. tom: david rubenstein joining us. it's a happy david rubenstein as he joins us t

global news powered by more than , 2700 journalists and analysts in more than 120 countries.. haidi. haidi: coming up next, sanford joins us with their outlook for oil this year as demand from china drives growth. this is bloomberg. ♪ ever better. it's when disruption hits your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. >> seeing some moves when it comes to aussie assets after inflation came in softer than expected, that easing bolstering support for the case for a rate pond from the reserve bank. we saw that 6.8% advancement in the consumer price indicator from a year earlier, down from 7.4% and also weaker than the 7.2% across consensus expectations. looking like a tepid session when it comes to trading on the asx today. the aussie getting further weakness as we really saw that inflation print coming in softer than expected. this even as we had broad-based dollar weakness as well over the past few sessions. weakness when it comes to the three year yield at

i have brent crude going down to a new low. global oil, 72.77.gin to the a 60 handle. the markets are reacting and that changes the political dialogue. jonathan: lisa mentioned some of those single names. credit suisse is down by almost 13%, that is just about a two market handle. more than 40 basis points on a two-year. the market at the moment, not my view, it is streaming to the fed, but have you think you have done. >> the two-year bringing down below one from 50 will be a new test. lisa: he things that markets are once again under -- and how long they will stay there. e. lisa: the market has apprised about a percentage point below that. tom: george bush, over the past few weeks many americans have felt anxiety about their finances in their future. i understand they are worried in frustrated. joining us, anne-marie. simply, you have been listening, reporting on this, listening to white house people. what is the -- at the white house that the president will speak to the nation? >> a massive lack of sleep at the white house this weekend. the in

global news, powered by more than 2700 journalists and analysts in more than 120 countries. d this is bloomberg. ♪ the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours. >> the bond market is somewhat dismissing of the dot plot because it reprice itself overnight. we think the risk for the market is elevated now more than it's been for the last 6-12 months. tom: that is mike wilson of morgan stanley, sharp yesterday on the back and forth. i think it's important in the models of the last 10 days, spx 4004, down 32,600. the nasdaq somewhere near 13,000. the vix was around 3

global news powered by more than 2700 journalists and analysts in over 120 countries. and this is bloomberg. ♪ ever better. it's when disruption hits your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. >> i think it will be someone not named donald trump. we know we lost the house and 18, we lost the house and senate in 2022. we didn't win is nearly many as we should in 2022. our voters know this. the fact we want to win we know we need to nominate someone not named trump. and i think will win the white house. >> the speaker from a number of years ago. good morning. the conversation he had when he was in the house it looks like we will have those conversations again later this year. >> it will be tinged with ryan gop tone or trumpian gop tone. that's a huge challenge for the speaker of the house. >> they weren't just the trump tax cuts, they were the ryan tax cuts he wanted for a long time. >> they were the everybody else wanted them tax cuts as well. i'm

he goes to east palestine and it's a global news event and you don't cover it live? is there that much happening on fox news at two in the afternoon that you can't cover him live? he has not been on fox news since he announced his presidency. any guy that brought peace to the world for four years until the chinese let off a bioweapon, wouldn't you think to have respect for the audience? think you would have them back up here? if you had respect for people, what you do that? they don't respect it. read the deposition. they have a fear, loathing and contempt for you. you are the ones that can make changes. if you want your share prices to stay up, the shareholders need to take action. the first thing you need to do is get rid of paul ryan as the independent director. [applause] if paul ryan is saying if trump wins he is not going to go, then you have to get rid of him. the murdoch immediately has two start covering president trump. no special deals discover the man. asking the tough questions. we need to hear the voice of donald j. trump. [cheering] hey. old man murdoch

global news powered by more than 2700 journalists and analysts.hleen: fears of contagion the banking sector have eased somewhat. let's bring in annabel. is this coming from jp morgan? annabelle: this is indeed. it is the team led by marco glenna veg. he says this level of uncertainty we have had in the banking crisis is going to play out for a time to come. it's going to be noticeable in two ways. first, you will see upward pressure on risk premium and off that, we will see investors increasing their need for precautionary savings. and we will have economic forecasts that have a long way to go to catch up with the downshift to economic markets. he emphasized in a note that he's staying cautious around bank stocks and cyclicals in general and has reiterated his view that the first quarter will mark the high points of equity prices over the course of 2023. so it is about staying defensive but the question is where? if you change on what he is still lacking is tech stocks. in the nasdaq versus the s&p 500 over the course of this year, the nasdaq has

global news 24-hours a day, powered by more than 2700 journalists and analysts in over 120 countries. i am vonnie quinn and this is bloomberg. >> still ahead, we get more into xi's bid to play peacemaker as white america who welcomes him to moscow. we get insight from the university of new south wales. coming up next, we meet with mainstreet asset management as the market upheaval circles warnings of a minsky moment. this is bloomberg. ♪ will you make something better? create something new? our dell technologies advisors can provide you with the tools and expertise you need to bring out the innovator in you. what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone

global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. yvonne: still ahead, we will take a closer look at japan after fresh data shows inflation easing further. our interview with the ims chief in japan. rishaad: the latest on donald trump's legal woes, the first former u.s. president to face criminal charges in a case he calls political persecution. more on that. this is bloomberg. ♪ and it's easier than ever to■ get your projects done right. inside, outside, big or small, angi helps you find the right so for whatever you need done. with angi, you can connect with and see ratings and reviews. just search or scroll to see upf on hundreds of projects. and when you book and pay throug you're covered by our happiness it's easy to make your home an a check out angi.com today. angi... and done. rishaad: czechia in with u.s. futures, the end of the quarter windowdressing. gains in tech, futures up, looking at to what is happening in regards to the bond market. we have 10 year yielding 3.56%, th

global news powered by more than 2700 journalists and analysts.cb goes with a 50 point hike. u.s. banks pledge a $30 billion rescue for first republic, but escalated borrowing from a fed back stock may show continuing funding strains. we take a deep dive into the banking breakdown next. this is bloomberg. ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh every day, millions of things need to get to where they're going. and at chevron, we're working to help reduce the carbon intensity of the fuels that keep things moving. today, we're producing renewable diesel that can be used in existing diesel tanks. and we're committed to increasing our renewable fuels production. because as we work toward a lower carbon futur

haidi: over global central banks correspondent, kathleen hays in new york.hinese markets may come under pressure again, following the unveiling of a conservative growth target. traders are also watching fed chair jay powell's congress testimony on tuesday. let's get more from our mliv contributor garfield reynolds. one of the reactions, as steve mentioned, is that it will be a fall. how are markets going to interpret that report? garfield: the biggest problem for markets is the upside of growth later on. that does not help them right now. there were strong expectations going in that there would be a more aggressive approach, what might be seen as a more markets-friendly approach. instead you have got this measured set up. you don't have much in the way of stimulus coming. you also have the increase in defense spending that emphasizes both how strongly everything is being placed on the control of the current regime. it also emphasizes the potential for tensions with the u.s.. so none of that looks particularly promising for market that had gotten very excited

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. i am vonnie quinn. this is bloomberg. >> still ahead, more on the growing geopolitical tensions over it the taiwanese president's visit to the u.s. we will speak with the austrian former ambassador to china to talk about what is at stake in what we could see from beijing in response. first, baltic capital markets -- bullock capital markets tells us why in just a moment. this is bloomberg. ♪ >> take a look at the first 15 minutes or so of trading in sydney. set for a pretty robust day with future stuff like this and a strong return of risk sentiment in the u.s. session, watching protects tax in particular -- tech stocks in particular. the asx up 0.90%. every segment in the green. it is information technology leading, up 1.3%. materials performing strongly. energy out of financials as well. this, as we anticipate a pause from the rba after the softer than expected inflation print. we are watching for, pale and jobless numbers -- for retail and jobles

we meet with global news makers. i'm talk about the store restock matter on al jazeera or a big unplugged to bangladesh, looking for safety after facing military crackdown in man. but this is what she's dealing with now, are make shift home at this refugee campaign. cox's bizarre, went up in flames on sunday. and the fire has swung the spotlight back on the struggles that charmers and tragedy is based on daily basis by everyone here. this fire, as a reminder of the many challenges facing their rominger refugees there caught between the increasingly dangerous situation in bangladesh and a new political reality off a homeland now led by the same military hunter responsible for the crackdown that forced them to flee in the 1st place ah, trading blame over a drug crash, russia, coals.

global news 24 hours a day on air and on bloomgerg quicktake.sa mateo and this is bloomberg. ♪ if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more. ♪♪ talk of a potential recession often leads to cost-cutting. how can the tax function of firms be mindful of this but also drive value? the challenge that many of them have is building a sustainable long-term plan around data and technology. we often see our clients turn to third-party providers and outsourcing arrangements where they look to them to accelerate that process, which can be a good outcome for many of our clients. what we find that the ones who are most successful are ones that enter that with the right partnership mindset, where they find a strategic partner that understands their values. that builds flexibility

global news, 24 hours a day on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am su keenan, this is bloomberg. >> still ahead, they do little to calm u.s. lawmakers as we saw. seeking to ban the viral video sharing service. we take a look at what really happens from the cyber risk management firm later in the hour. first, a place to hide out as markets face both potential possession and further rate prices. we get more on that strategy next, this is bloomberg. ♪ get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can help get you there. j.p. morgan wealth management. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh >> we have increased the regulation of the banking system from then. reque

global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. haidi: get more for exclusive with south korea's chief financial watchdog. he explains what risks he is watching in credit and property markets. with the current banking turmoil is not as bad as 2008. it is not affecting all companies equally. this is bloomberg. ♪ ever better. it's when disruption hits your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. was also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what you make. start saving today at godaddy.com oh booking.com, ♪ i'm going to somewhere, anywhere. ♪ ♪ a beach house, a treehouse, ♪ ♪ honestly i don't care ♪ find the perfect vacation rental for you booking.com, booking. yeah. >> this the textbook case of dank mismanagement. >> we saw serious stress. >> we have used tools to

global news 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. annabelle: still ahead, the imf says fed chairman jerome powell wouldn't do well to recognize how the fed's monetary policy is leading to a banking crisis. executive director joins us later in the hour. and up first, a look at bond markets as the fed doubles down on its hawkish path in the u.s. prepares his actions to protect banks potentially. we will speak with giovanna from bond blocks. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh ever better. it's when disruption hits your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. the new chase ink business premier card is made for people like sa

global shares. but, this is the state of play as we open for australia now. newealand has likewise turned positive. it earlier opened in the red. now we are seeing a move back into those haven plays. the bond market in particular is really pricing for the risk of recession. also, the odds that the fed will be forced to cut rates. swap saying we will see a 100 basis point reduction by the end of this year. you can still see those moves really led by the front end of the curve here. kathleen: annabelle, friday the treasury bonds had a nice rally. we saw the two-year note coming down six basis points to 3.77%. and the 10 year also coming down about six basis points to 3.37%. the curve is still steep but the sense with rate hikes is the fed can't do it anymore. they will have to start cutting rates soon because the banking crisis will feed into a loss of bank lending. stocks, coming into the beginning of the trading week with green on the screen because after seeing the s&p 500 dropped a full percentage point friday morning my regulators meeting in washington coming

global news powered by 2700 journalists and analysts and 120 countries. i'm lisa teo. is meant -- this is bloomberg. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. (upbeat music) there's more to business than the business you're in. (robot whirring) want smarter factories? that's the internet of things business. accelerating r and d? data science business. hey. have a look. managing global supply chains? shrink our carbon footprint business. thank you. (in foreign language) that's where deloitte comes in. with a potent blend of acumen and technology to help advance and connect all that it takes to excel in business ... to the business i'm in. deloitte. every day, millions of things need to get to where they're going. and at chevron, we're working to help reduce the carbon intensity of the fuels that keep things moving. today, we're producing renewable diesel that can be used in existing diesel tanks. and we're committed to increasing our renewable fuels production. because as we work toward a lower carbon future, it's o

global news powered by more than 2,700 journalists and analysts in over 120 countries. is is bloomberg. ♪ this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. >> there has been quite a hawkish tone on the federal reserve. you will hear more about that in due time and from the ecb. one of the things about changing the target is, it is a challenge when you are below it. it is a bigger challenge when you change the target when you are above it. jonathan: catherine mann of the bank of england, the monetary policy committee member catching up with bloomberg earlier this morning. we have known catherine mann a long time from city back to the days of the oecd. it has been amazing to see her transform into a real hawk on the mpc bank of england. tom: people who know dr. mann know the rigor from massachusetts institute of technology. what is great about her, excellent in

global news 24 hours a day on air and on quicktake.nalysts in over 120 countries.i'm lisa mateo this is bloomberg. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. with changes in everything from crypto to blockchain, audit plays a critical role in building confidence in capital markets. how is the audit sector helping companies manage and assess this risk? yeah well, 90% of the data that's really been collected and used today has been developed in the last two years, which is astounding. and that amount of data brings great opportunities for better insights to our clients using data analytics, but also bring additional risks. another example is really the innovative technologies that are being used at our clients today. and if you think of blockchain and crypto, having the technologies available to basically assess those risks and make sure that we're covering them is integral. and ultimately, if you think of one of the too

that's global news powered by more than 2700 journalists and analysts in more than 120 countries.muel etienne, and this is bloomberg. tom: coming up, be a we governor andrew bailey signals a slowdown. he says rates will probably remain below the highest seen before the financial crisis. we will get more analysis next. this is bloomberg. ♪ >> we have a strong macro policy regime in this country. the bank is on the case in terms of securing financial stability. this is important for monetary policy because it means the npc is focused on returning inflation to target. tom: the bank of england governor suggesting u.k. rates will not be lifted back to the highs before the financial crisis. let's bring in leanne for more. is this a can't but the boe -- a hint that the boe may be near the end of its hiking cycle? >> a hint is exactly what it is. yesterday we saw bailey giving this speech at the london school of economics. it seemed to be what we could almost describe as upbeat. as he sat in th -- he said this could be the end of the hiking cycle that has been the quickest in three decade

that's global news powered by more than 2700 journalists and analysts in over 120 countries.s is bloomberg. francine: let's check in on some stocks on the move at the open. we start with bmw. a great interview with the chief executive officer saying they expect 2023 margins at around last year's level. the stocky gains 6/10 of a percent. efficiency driving some of the fuel for record cash and profit. a concern about profitability going forward. h&m actually 6% lower. it's unclear some of the resale programs. we will be talking with sandra about the upcoming ecb and federate decisions as well as budget day in the u.k.. this is bloomberg. ♪ the plan we created can withstand uncertainty. lately everybody has opinions about the economy, but i count on personal financial advice. my ameriprise advisor understands the markets and me. she knows my goals and can help me reach them with confidence. the markets may fluctuate but you're still on track. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ever

all on the titanic, but on the deck of this is in the global north, the government's the corporations, sipping cocktails, listening to the orchestra, new york, a sir. so play a player just didn't get into the safety of her and had a hold of the people of the global sites who are already drowning. but normally the draining boy, the trying to escape the find that the hold is bod. sure said that's the story of climate change. it's not that we're all in it together. yes. ultimately we are, but the people with the most impacted in the 1st impacted or in the global. so let's always how it is. so everybody knows we, there's this, scientists report, i pcc report that talked about the importance of keeping temperatures to 1.5, right? and it said the world as to d, carbonized by 2050. that means we have to half emissions by 2030. so rich countries, you need to d carbonized by 2030, right? that's that be the logic because they've consume more and of course rich countries say no, we're going to d carbonized by 2050. no, none of us would get on a bus or a train. if somebody said, i'll listen. there's one in 3 chances. bus or train is going to crash

global news powered by 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. advancing flight for future generations. ♪ welcome to a new era of flight. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. >> i have made clear there is no trade-off between price stability and financial stability. we have plenty of tools to provide liquidity support to the financial support if needed. and to preserve the smooth transmission of our monetary policy. >> hawkish stuff from president lagarde of the ecb. euro-dollar very close to 108 this morning. welcome to the program. euro-dollar looks like this. positiv

global news powered by more than 2700 journalists and analysts in more than 120 countries.his is bloomberg. ♪ hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. get refunds.com powered by innovation refunds can help your business get a payroll tax refund, even if you got ppp and it only takes eight minutes to qualify. i went on their website, uploaded everything, and i was blown away by what they could do. getrefunds.com has helped businesses get over a billion dollars and we can help your business too. qualify your business for a big refund in eight minutes. go to getrefunds.com to get started. powered by innovation refunds. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. >> i hope we are through the wires. i think there are still questions around the world. have t

vonnie: global news powered by 2700 journalists and analysts in over winter 20 countries. -- over 120 countries. shery: more from the cathay pacific ceo who is hopeful the hong kong airline will turn profitable this year. plus tiktok consider splitting from its chinese parent company. the latest on how the social media platform plans to address u.s. national security concerns. this is bloomberg. ♪ get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can help get you there. j.p. morgan wealth management. introducing the new sleep number climate360 smart bed. the only smart bed in the world that actively cools, warms and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. >> the preponderance of data is pointing toward inflationary press

okay he goes the east palestine andoe gets biden administration it's a global news event and you don'ter it that live that much happening on fox news at 2 p.m. he hasn't been on fox news since announced for presidency let me ask you any guy that brought peace to the world for four years until chinese let you have a a boy yo weapon to have respect for the audience you would have him back up here to talk about the ye geopolitical if you want respectre for people would you do f that? >> yes. theypl don't respect you read te depositions. the deposition they have a fear of loathing contempt for you. and you're the ones that can make changes. the shareholders if you want your share price to stay up -- you need to take action. the first thing you need to do is get rid of paul ryan as independent director. if paul ryan saying if trump wins he's not going to go then you've i got to get rid of him. murdoch's immediately have to start covering president trump. no no, special deal just cover man asking tough questions if but we need to hear the voice of donald j. trump. [applause] hey -- old man m