haidi: good to have you with us.nk you. 20 more ahead on china's policy -- plenty more ahead on china's policy easing. as i was telling our guests, the u.s. is now a boycotting the beijing winter olympics in february -- is now boycotting the beijing winter olympics in february. that is opening a new flashpoint between the world's biggest economies. >> the biden administration will not send any representation to the beijing 2022 winter olympics and paralympic games given that there is ongoing genocide and crimes against humanity and other human rights abuses. shery: more with our political news director, not going as far as what we have seen it in the past with a full four at -- with a full boycott. >> this is a diplomatic boycott, no administration official or u.s. officials will be attending. we are hearing from the chinese that they were not invited anyway. it is symbolic and as the press secretary said, this is over what the u.s. administration is determining as human rights abuses. against the weaker muslims -- u

haidi: haidi: let's take a listen to what president mester had to say. ms.ter: the data have come in supportive of the case, so i'm very open to considering a faster pace of tapering. haidi: when it comes to the outlook for 2022, that big risk remains, inflation. >> it is almost a relief for asia if the fed is going to tighten. you know, there is the potential for some disruptions if they are tightening faster than the fed. i think a key point for asia so far has been an issue created by the omicron variant. the u.s. has lost a lot of its mojo. at the end of november, the fix in london saw a very strong dollar move up, which was almost immediately unwound, but traders are wary of holding on dollar positions. that again is good for asia because a strong dollar has usually led to week equities. if that mix of omicron and powell uncertainty continues to undermine the u.s. dollar, that is something that could change if payrolls come in really strongly. until we get that strong dollar move, we might well get a relative sweet spot for equities globally when it com

haidi: it is fascinating and somewhat alarming.oes that tell us about the modeling we can use on what future variants might look like? mary-louise sometimes -- mary-louise: sometimes the modeling includes just pure science, but they ought to include behavior. one thing i have learned from my first pandemic, which was hiv, and of course sars and flu, it's not just about the virus, it's also about behavior as well. with this particular virus and its strain and to the way it has changed, there are 32 mutations of the spike alone. most of them would indicate it is a highly capable of binding and fusing into ourselves. -- our cells. we don't know if we need less of the virus to get infected, we don't know that, we don't know if it hangs in the air longer, as i mentioned, but it is no less contagious than delta. and england and south africa shared at the who meeting that it looks as if it is more likely to cause reinfection. i sometimes think that assumption of it can get around our immune system may be it is getting around our lowering

haidi: we are counting down to asia's major market open. >> welcome to daybreak asia. haidi: dr. fauci says he does not expect locked out in the u.s. to cause a spike in covid cases. asia-pacific airlines director general. president biden's economic agenda takes a blow as a key senator rejects his $2 trillion spending bill. >> fairly busy knows flow -- news flow. we are coming off of steep losses in friday, we are stabilizing and that is a good thing. everything coming in the next few days have sure we are ok in australia. peters are coming online. we have our mixed futures and tenure futures, we will get that up if we can on the back of this report is -- of this repricing. pricing is coming in march of 2022. it is very quick, let us have a check on the fx market. keep in mind we are coming off of what, seven straight weeks? against the turkish currency as we can see at the moment. we are continuing to see the trade is one-sided. haidi: as we get closer to the holidays this is the unwanted risk from the virus omicron. also, delta cases are starting to spike. new york is getting c

haidi: next, the u.s.eople to a list of those considered to be undermining hong kong's autonomy. the latest just ahead. this is bloomberg. ♪ haidi: one of china's top economic influences has been fined for tax evasion. let's get the story from our consumer reporter. what does this show regarding china's regulation and the attention on the livestreaming industry? >> in the past few years, the industry has grown to a really big size with little regulation. the government bureau has started to issue notices they will look at the industries tax behavior. in the past several months they have caught several people evading tax. this is significant in terms of the scale they are looking for. the case now will spook other celebrities to pay their taxes and comply with the law and we will see others come into the industry to standardize it. david: there is another name that comes to mind. what does this mean in terms of who we should look at in terms of potential companies that might next be under scrutiny? >> in te

haidi: absolutely.ment and it is not at all controversial particularly after sars. we are watching the evergrande story in china. they appeared to be headed toward default. they could be headed for one of the largest ever debt restructuring. we have been circling around what now feels like the inevitable. >> it definitely feels like we are in a different phase of the evergrande crisis, particularly with those statements on friday from authorities and evergrande, acknowledging they will struggle to meet the debt payment. with bondholders yet to receive payment, it seems like this could be the first default on a public bond. it is significant for the offshore bonds because it could trigger across default. for bondholders, although we saw a significant price drop in evergrande yesterday and the day before, but most of the bondholders, this could be good news because an official default would give them more leverage when it comes to negotiating any kind of possible restructure. so in itself it is not necess

haidi: good morning. i'm haidi stroud-watts in sydney. we are counting down to the major market opens. shery: i'm shery ahn in new york. welcome to "daybreak: asia." asian stocks set to follow wall street lower. traders are weighing the economic threat of virus restrictions against vaccine optimism. evergrande in default as a huge restructuring looms. the pboc says the crisis will be dealt with in the market oriented way. the u.s. senate clears the last major hurdle to raise the debt ceiling, the legislation could pass as soon as this hour. haidi: let's get you straight to the start of trading. we are seeing weakness across asian stocks, just following that weakness we saw overnight in the u.s. traders are halting a little bit, given we do still have all of this uncertainty over the new virus variant. also getting key u.s. data inflation numbers. we are seeing traders staying on the sidelines ahead of that. we are looking at weakness as we get that trading here in sydney. new zealand, up .5%. also seeing pretty flat trading at this point

haidi: good morning, i'm haidi stroud-watts and sydney. kathleen: i'm kathleen hays in new york. welcome to daybreak asia. our top stories this hour, a risk off mood sweeps the markets as a hawkish fed and omicron way on sentiment. crypto looks to make a comeback after taking a hard hit. evergrande's long-awaited debt restructuring may finally be at hand, posing a fresh test to president xi. china security watchdog downplays overseas delisting concerns as adr losses since february topped $1 trillion. haidi: let's get you straight to the start of the open and sidney on this monday morning. we are seeing expectations that we will see with volatility and risk aversion sweeping across the asia open. while we are seeing downside at a quarter of 1% when it comes to trading and seek me -- and sydney, we are expecting them to say how they view economic momentum and if they address the gap between market expectations and when the rba thinks they will start that tightening. and it comes to new zealand, we are seeing downside pressures. chicago nikkei futures looking positive. we are hearin

haidi: thank you. another calendar year, let's recap some of the major themes that swept through financial markets and bring in david inglis. among the big questions investors are grappling with, what of these themes will persist into next year? >> that is also the reason we've seen volatility moving into the last week of this year. people grappling with what continues, and how inflation will continue. wrapping things up, the extremes we have seen. stocks, very simple. look at the s&p 500. almost as if we were looking at two different years. asia, msci on the way down. a really extreme dispersion within valuations. let's have a look at that. looking at hong kong, essentially half of the multiples on the s&p 500. let's put that on a chart for you. the biggest premium in 15 years -- or at least in 15 years -- between u.s. stocks over em stocks. does it continue? there is no reason to think it cannot. it is the underlying conditions. let's have a look at credit. also when you look at em's, the discount pu

haidi: i'm haidi stroud-watts in sydney. our top stories this hour.mood on the markets as traders way of thursday of gains. investor concerns over omicron are easing as pfizer says a third vaccine dose neutralizes the variant. a chinese developer inching closer to talks with bondholders on the financing deal. shery: japan and south korea coming online right now. the nikkei and topics under pressure. we've seen the nikkei gain for two consecutive sessions this week. now we are seeing a little bit of pressure as the japanese yen holds steady at that 113 level. it's been range bound in terms of trading against the u.s. dollar. u.s. yields continue their march higher. we are also watching the kospi at the moment which is gaining ground for a seventh consecutive session. this will be the longest winning streak since april of the year. the korean won is now also rising against the u.s. dollar. we continue to see a risk on mood on vaccine optimism. we saw that play out during the new york session as well. haidi: when it comes to the trading action, the asx j

haidi: i'm haidi stroud-watts in sydney. guy: -- yvonne: i'm sure sh -- shery: i'm shery ahn in new york. omicron is wreaking havoc. for ceo's return to office plans. they tell stuff to stay home. the u.s. senate passed a bill that would ban goods from china's she john region unless companies could prove they weren't made with forced labor. haidi: let's get you straight to the start of trading, this friday's session, ozzie is looking to reverse three days of losses this week, off to a pretty good start, a mildly positive start to this open in sydney. in the meantime, we are seeing a flat session over in new zealand. we spoke with the finance minister earlier about the impacts of omicron and potentially how that affects the reopening and the economic recovery. he was fairly optimistic. futures looking unchanged at this point. we are watching for that final session going into the start of u.s. trading, a very eventful week for not just a fed chair, but global and central bank. shery: so many to discuss, but u.s. futures slight

haidi: good morning and welcome to daybreak: australia. i am haidi stroud-watts in sydney. kathleen: and from new york, i am kathleen hays. they risk move sweeps across the market. crypto is taking hard-hit. haidi: of saudi arabia raises oil prices for asia and the u.s., signaling it sees demand staying strong. kathleen: australia raises pandemic restrictions as it confirms a local transmission of the variant. paul: and evergrande's long-awaited debt restructuring posing a fresh test for president xi jinping. kathleen: let's check the markets. this running from risk. the fact that the jobs market report on friday, even those payrolls fell far short, but did not make one say the fed will slow down. so where do we see one of the most hardest hit places? let's start with bitcoin. now trading at 49175. it started on saturday, trading as low as 42,296. it is not just the move by cryptos, it is the move out of the ipo's. and the 10 year yield was one of the beneficiaries, rallying. the yield is at 1.3 for now. if you look at oil, actually oil has settled for the sixth straight we

haidi: the u.s.e to covid treatments found to reduce hospitalizations in infected people. sources tell bloomberg the fda is poised to sign off on a pill from pfizer and merck which would be the first at-home treatment for coronavirus. the pfizer pill led to an 89% reduction in hospitalization while merck was not quite as effective. a warning to nato, saying he is ready to use of a terry to counter the expansion. putin told senior military officers he's concerned about the presence of nato forces near russia's border. he says he cannot allow the alliance to deploy missiles in the ukraine and threatened what he called an adequate military response. the indian government has proposed new laws seeking to raise the legal age when women can marry to 21 from eight team. it's to bring greater social and educational benefits to women while lowering infant mortality rates. codecs say the bill won't address underage marriage in rural areas and will penalize adult women. those are your first word headlines. vonn

haidi: thank you so much. get to vonnie quinn with the first word headlines. >> thank you. opec-plus will risk -- proceed with the oil production hike. they agreed to add 400,000 barrels per day to global markets in january. nations including the united states are worried about high prices. the cartel left the door open to changing the plan on short notice. that unusual step underscores risk from the pandemic and a u.s. led release of emergency fuel stockpiles. a company failed to win approval for a debt swap to avert dip -- default. the troubled developer has bonds due next week. they are the nation's third-largest issuer of property firms. the u.s. is moving ahead with efforts to remove chinese companies from american stock exchanges for not complying with washington's disclosure requirements. the sec announced its final plan for law, mandating foreign companies open their books. china and hong kong are the only two jurisdictions that refuse to allow inspections despite washington requiring them since 2002.

haidi: that is a lot of uncertainty.heard from bill dudley saying that he thought the fed's forecast was a magical forecasts. do you think that perhaps we are not pricing in or not really considering here any elements? >> the easy answer first of all is this is caused by pandemic. the pandemic is not over. we cannot be certain we understand clearly all the implications. we will have to see. secondly, the degree of certainly the cause of the shutdown is not typical recession, as everybody knows, and the policy response has been overwhelming compared to the past. how this will work out obviously is quite uncertain, but today's action by the fed shows that they are back on a path that seems to be consistent with the economic data. they said there framework promised they were going to be late to start. the market agreed they have been late to start, as they promised, but now they are in an action. of course, this is going to create questions about other central banks. the european central bank, the actions of the bank of jap

haidi: good morning. we are counting down to asia's major market open. >> our top stories this hour. optimism the recovery can whether flareups. the fda gives the covid pill the go-ahead. president biden signs a bill -- the move will add to tensions in beijing. haidi: we are on track for four state days -- straight days of gains. we are hearing rapid developments for how the virus is being handled here. we heard in the last hour that shortening of the timeframe. health minister saying you can get your third booster shot -- the third of vaccine just a month after your last shot. strong gains when it comes to materials and energy following the gains overnight in new zealand. one quarter of 1% higher. chicago nikkei futures paving the way as we look for risk sentiment getting into christmas eve. liquidity conditions the last half day of trading for the holiday. it looks like we are on track for the santa claus rally. >> u.s. futures are looking positive but after hitting records in the final days before the

. ♪ haidi: i'm haidi stroud-watts in sydney.nne: i'm sure sh -- shery: i'm shery ahn in new york. omicron is wreaking havoc. for

. ♪ haidi: good morning. i'm haidi stroud-watts in sydney.ting down to the major market opens. shery: i'm shery ahn in new york. welcome to "daybreak: asia." asian stocks set to follow wall street lower. traders are weighing the economic threat of virus restrictions against vaccine optimism. evergrande in default as a huge restructuring looms. the pboc says the crisis will be dealt wi

. ♪ haidi: good morning.ng down to asia's major market open. >> our top stories this hour. optimism the recovery can whether flareups. the fda gives the covid pill the

haidi: we are counting down to asia's major market opens. has its worst two-day selloff in over a year with volatility spiking as the u.s. confirms one case of the omicron virus strain. jay powell warns of the risks of persistent inflation but says the fed's will adapt. we speak

. ♪ haidi: good morning. >> welcome to daybreak asia.bound of stocks may continue in asia as risk of appetite returns to the markets. president biden says he may lift travel restrictions. omicron may result in more breakthrough infections. the u.s. may

. >> i am haidi stroud-watts in sydney, counting down to asia's major market opens.er tech leads wall street to its biggest rally in nine months. haid: omicron optimism is lifting sentimen

haidi: we are counting down to the major market open.ncerns over omicron start to ease, china policy code as there is a downturn in the real estate market. the evergrande

♪ i'm watching it fall ♪ watch the full story at www.xfinity.com/sing2 ♪ haidi: a very good morning. asia's major market opens. shery: welcome to "daybreak asia." the fed's most hawkish pivot in years. >> we are phasing out purchases more rapidly because with elevated inflation pressures and a rapidly

haidi: i am in sydney. welcome to "daybreak asia." despite the tumble in the u.s.lumes i had of the christmas holiday to exacerbate market moves. moderna adds

haidi: good morning. we are counting down to asia's major market opens.ome to daybreak asia. asian stocks set to open off the back of u.s. gains. oil gains with opec-plus adding an escape because to its hikes. a tumble in a new york debut after a record-settinsp

haidi: larry hu it was --shery: larry hu. it was good to have you on. we will have more later.turn to your bloomberg for more on this. go to t live go to get commentary and analysis from bloomberg's expert editors. plenty more to come. this is bloomberg. ♪ paul: safer, more affordable, and more convenient. for a long time, autonomous technology promised all of those benefits, but progress has been slow and hurt by the global pandemic. ed ludlow hosted three of the industry's top executives at the bloomberg technology summit to discuss if we are finally at a tipping point for self driving cars. >> one of the issues is when people are talking about cities, we've been testing in 13 cities globally historically. but we also realized the same issue. it is nice to have a different variety of data. that is helpful. but we need to make it real. for people to really use it in their daily lives, the cars have to be, first, driverless. it has to be driverless. it is not the same if you have a safety driver there and call it commercialization. two, you have to have a large odd, people have