for more, i want to bring in jodi schneider.hy are cases accelerating even as vaccines are accelerating across the country? >> in one word, it is variants, which are fast spreading, they are hitting some states very hard and michigan is among them. that is why we are seeing the governor take that action, to ask people to voluntarily stop activities. she's not doing a shut down, that would seem politically unpalatable now, but they are having 49,000 new cases, which is a big increase in just the past few weeks. it is the fact spreading variants and they are saying younger people, people in their teens and early 20's, people who have not yet been vaccinated because the vaccination effort started with older people first. we are starting to see this group that had not been affected before get the virus and hospitalizations have gone up as a result as well. emily: governor whitmer asking the biden administration for more support on the vaccine front. in the meantime, you have pfizer and biontech seeking to expand vaccine access to te

thank you for joining us, jodi schneider.e vaccine stories from us -- stories for us from new york. coming up, famed economist and bigbear gary shilling joins us to give his take on inflation and the pace of the recovery. this is bloomberg. ♪ matt: this is bloomberg markets. i am matt miller. inflation concerns remain for most investors as the global economy recovers. recent data shows that u.s. consumer inflation expectations surged in april to the highest level in nine years. gary shilling has been cleat -- has been keeping a close eye on the inflation situation as well as the coming economic room. -- economic boom. gary, you say it will be a mirage. why? gary: what we're seeing so far is that all this stimulus money that's being pumped out is largely being saved. if you look at march a year ago, and this is federal reserve data, people spent 20 -- 27% of what they got and saved the rest, used it to pay down debt. in december, it was 26%, and in march, 25%. people are rebuilding assets, paying down debt. people realize that

. >> jodi schneider with the latest on the virus, and speaking of the vaccine efforts, we are gettingmbers from sinopharm. we are also seeing first quarter other numbers coming through including operating revenue at over 120 billion yuan. it is a pretty big week for sinopharm as well, and the world health organization set to decide whether two vaccines will be approved for global emergency use along with the three western developed vaccines that are being in use at the moment. sinopharm having said they have shipped over 50 million doses of their vaccine overseas, and it has been adopted in a number of developing nations. we have more to come. this is bloomberg. ♪ ♪ >> let's take a look at the day ahead in australia now, and getting our inflation data and just three hours from now. that is expected to show at pickup, with higher fuel prices. value stocks on their longest winning streak since 2009, and also being the news -- big news on the virus front. and with india with the nation's quarantine program under strain. let's get the first word news with vonnie quinn. vonnie: continuing

. >> that was jodi schneider in new york. we have lots more to come on daybreak asia. shares continuing to surge after they hit -- toshiba shares continuing to surge after they hit their limits. growing activists influencing corporate japan as we cross over to our stocks reporter. what are we seeing right now, is this investor optimism about the deal? >> yes. as you just said, shares are continuing to surge after rising by the daily limit of 18%. what we can expect is for a prices to rise to about ¥5,000 apiece which is the approximated offer price, but afterword, analysts are saying that share prices can be subjective to volatile trading because a lot of different things can happen from here and it is it hard to expect what exactly the next step will be and how the deal unfolds. shery: what is this meaning for corporate governance in japan? >> and means a growing influence of shareholder activism. for a long time, it seemed like shareholder activism seemed to be a series of efforts that turned out to be moot, but a lot of different things can turn out from here, but f