john liu is in beijing to touch on global geopolitics. starting with treasuries, yields have declined further. the 10-year yield its lowest level since mid-september. that follows a gauge of service activity that suggested the u.s. economy is headed for downturn. let's bring in chief rates correspondent garfield reynolds in sydney. i would be the worst trader ever at this moment, because i would assume now is the time to be shorting treasuries because of the run-up over the banking sector fears. as it seemed like the impulse to keep buying treasuries will stick around? >> it does seem rather like it will. part of the reason is that we're moving beyond the period where one, or a couple of data points or fed species can make a serious dent in the treasuries market. we already went through powell being extremely hawkish in his march testimony to congress. the bond market said the fed reroute will continue. banking fears hit. that turned the picture completely around. since then, there has been a steady drip of poor data, especially of frontr

paul: bloomberg's greater china senior executive editor john liu.et a run of the stories you need to know. get your day going with today's edition of daybreak on dayb . you can customize your settings so you only get news on the industries and assets you care about. this is bloomberg. ♪ paul:paul: hsbc's senior executives have faced off, pledging to keep up dividend payments and fending off because to -- let's get to our reporter joining us in sydney. that shareholder meeting, 1100 people in attendance. it was not without drama. what were the main points of contentious? >> hsbc is spinning out its asian business. shareholders are saying the rest of underperformance and the company's operations is dragging asia down so they would like that to be split up. asia is at the heart of hsbc's business. hong kong in particular has 28% of profits and one third of shareholders so it is at the core of their business. though shareholders are not -- those shareholders are not happy. the other part of contention is dividends. in the height of covid, regulators

john liu.a look at the first word news headlines and the philippines president says manila and beijing have agreed to establish more lines of communication to resolve conflict in their shared see. qin gang said the two countries should work together to promote peace in asia, a sign that beijing is working to chip away washington's sway in the region. evacuations are underweight and accelerating in war-torn sudan. the world health organization has more than 420 people have died and at least 3007 others are being hurt in the fighting between sudan's army and the militia. and prime minister fumio kishida's party ekes out four local election wins. of the five seats up for election, they picked up a fourth. this fuels speculation that kishida may call for an election after the g7 summit in may. speaker kevin mccarthy says the house will pass his $1.5 trillion debt ceiling plan this week. he refuses to say if he has already secured the 218 republican votes he needs. versus saying he has not lined up

john liu out of beijing for the latest there.et the bloomberg business flash now with saint-etienne in london. samuel: apple personal computer shipments have fallen over 40% in the first quarter, marking the worst drop since 2000. according to international data corporation, shipments of all pc makers combined slumped nearly 30%. it says the demand search for pc's driven by remote work has evaporated. the imf says the outlook for global growth over the next five years is the weakest in three decades. the emergency lender is urging nations to avoid economic fragmentation and take steps to boost productivity. the imf's medium-term gdp forecast of 3% per year compares with 3.8% on average over the past two decades. australia will host its first senior chinese official in six years, in a sign of warming relations. ties deteriorated in 2017 after australia introduced anti-foreign interference laws. china describes the visit by its vice foreign minister as a new ground of consultation. tom: sam, thank you. u.s. president joe biden arri

let's bring in john liu, who leads our coverage across greater china, what do we know that about thebiden's planned executive order? >> this executive order will target technologies that the u.s. thinks could help china's military close the leads that the united states currently has over beijing. what we don't have is the exact details of what these rules will target. as you said, those targets are not going to be difficult to guess. if you look at actions the united states has taken already, it is obvious that semiconductors, ai and supercomputing will be top of that list. we have seen already sanctions and limitations on what u.s. companies can sell to china. now we are seeing the u.s. also target capital flows. tom: the next step in that campaign around national security. meanwhile, john, comments around what taiwanese officials are saying about the u.s. pushback on chips and reliance on taiwanese chips, what are we hearing? >> the taiwanese government is increasingly uncomfortable with the rhetoric coming out of washington, when it comes to how much the u.s. and other countries d

shery: john liu joining us from beijing.u need to know to get your day going in today's edition of every. bloomberg subscribers go to dayb and also available in the bloomberg app. customize your settings so you only get the news on the assets that you care about. this is bloomberg. ♪ the first time you made a sale online with godaddy 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 >> integration of our business is expected to take 3 to 4 years excluding the full why don't of the credit suisse nontobacco portfolio. we expect the transaction to generate annual run rate cost reduction of more than $8 billion u.s. by 2027. haidi: that was the dubious chairman on the complex integration of credit suisse. as that merger unfolds, but this was government is about to cancel or cut outstanding bonuses of top credit suisse executives. that is

can fargo, robin even of marvel star simu liu who played shang-chi. he's in this as well. johna to lot of big name in the cast. >> good to see the reviews. but already it does look funny. i know. yeah. it's set to be released in theaters july 21st and the hype is >> saw welfare yeah. a lot of 56 right now. and coming up are robbers have been following people to their homes in a south bay? we're going to tell you who they're targeting. plus. >> we're g tesgation into a san francisco tech executive who was stabbed to death in san francisco. nurtec is the only medication that can treat and prevent my migraine attacks, all in one. don't take if allergic to nurtec. allergic reactions can occur, even days after using. most common side effects were nausea, indigestion, and stomach pain. talk to your doctor about nurtec today. >> breaking news this morning. the creator of cash app is killed in a stabbing in san francisco. his killer still on the loose. we're live with details on what we know so far. former president donald trump pleading not guilty to 34 felony charges against him. hea