juliette saly's in singapore. you tell the world about elon musk showing that a viable deal at a lower price for twitter is out of the question. laura wright, what has elon musk done to take the wind out of the twitter bid? what has elon done overnight? laura: keeping up with elon musk is a full-time job these days. he believes that 20% on account of the social media platform, there are big issues on the platform. yesterday twice the -- tesla and twitter trading down. there is continued convictions in the world's most valuable electric vehicle maker. this deal was thrown into jeopardy on friday after his team said that they disagreed on a statement of less than 5%. the spread between that bid price and twitter share price reached a new record yesterday, just shy of $17. you can see the social media platform has given up all of its gains which we first learned that elon musk has become the platform's largest shareholder back on april 4. the next thing we talk about is this argument on twitter between elon musk and

juliette saly in singapore. president biden urged the election of more lawmakers who support abortion rights and will seek to enshrine protections into law. this with a 6-3 majority supreme court looking to overturn roe v. wade. democrats lack the votes to pass that sort of legislation even by a simple majority. joining us is bruce einhorn. this comes as midterms in the u.s. are underway. we are getting results from the gop in ohio. how does this change the political landscape? bruce: it could change things a lot because until now, the assumption has been the republicans had a huge advantage going into the midterms. voters were motivated to go to the polls, republicans seemed on track to regain control of the house and the senate. suddenly, you have a lot of democrats who might not have paid that much attention to the possibility that roe v. wade was under threat to are now paying attention. but we will see from democrats efforts to get people to the polls. that could mean a major change in the battle for contro

the latest moves in more perspective, we go to juliette saly. what stood out to you? juliette: this reopening theme and optimism that we will see looser restrictions in china giving a boost to asian equities. the regional benchmark index at a one month high. it is on track for a monthly high with one day left. that would be its first monthly gain for the year. there are some indicators there could be upside coming through from the sci 300. we had a guest last week saying they think it is risky to be underweight equities. they are turning bullish on the china story though they are cautious on the tech picture. the hang seng getting a boost. the offshore you want outperforming the dollar, partly to do with the loosening restrictions in china. a little bit of month end bond and, lifting the currency. we still have the global growth concerns, and that is overseas funds. we saw the most outflows since 2008 with around $63 million of shares this year. the biggest exodus in taiwan is very tech heavy with around $28 billion of funds leaving the market since the beginning of th

thank you, juliette saly. the kansas city fed president said she expects the central bank to raise rates to 2% by august. and with 50 basis point hikes expected in the next two meetings. we are joined by enda curran. was bostick talking about a pause? he said something like that before, but giving more detail, talking about september. is this a tone change, a shift to have the fed or nonvoting member say it might be worthy for us to put on the brakes this year? enda: i think it is a pretty hawkish message, but they're also acknowledging way minute, at some point they have to see how things are playing out. we had comments overnight from fail bostick, esther george, the hike is clearly there to curb inflation, but when they start seeing evidence inflation is coming up, they will see what pace of rate hikes to go from there often. -- thereafter. the san francisco fed president also made the comment that she didn't see sign of recession so she is not in the camp to keep hiking rates. i think the bigger takeaway i

juliette saly is qualified on the story from singapore. juliette: manus, this is the deal on crackdown. we are seeing tencent closing its long revenue growth. you have most of shanghai and a tech along debt -- lockdown. we heard from the president saying that they really need to see the policy report that has come through. that will be a bit of a lag until it comes through. tencent pledged -- plunge the most in two months. when it comes to the price tack -- price tag, you will see it rally that she will need to see a rally to get up to that price tag. a lot of bullish momentum is on the stocks. jefferies and city will have a by on the stock. we could see some positive momentum coming through particularly of we see these new gains. dani: thank you. juliette saly in singapore. $7.8 million hedge fund is shutting down. giving us more is charlie. it was not that long ago that there were talking about trying to raise fees, now they are throwing in the towel, why the sudden change? >> is manus and oracle? [laughter] on this very show he was askin

juliette saly is standing by in singapore.tte: russia is planning a bond payment mechanism despite u.s. sanctions and potential default. it would allow foreign investors to open accounts in russian banks in rubles and hard currency. russia is back in default countdown. effectively triggering a 30 day grace. business confidence in the u.k. rose for the first time in three months in may. the business barometer rose to 38%, the highest reading since february. it suggests more companies plan to increase prices. a strong economic recovery could strengthen the bank of england's conviction to aggressively tackle inflation. china's factory activity continued to shrink in may but at a slower pace, as many of the tightest covid restrictions began lifting gradually in some areas. official manufacturing pmi rose to 49.6 from 47.4 in april. that compares with the median estimate of 49 in a bloomberg survey of economists. the nonmanufacturing gauge increased. china's virus cases fell below 100 since early march. 97 new cases for monday. som

juliette saly will tell us about that. let's show you the rest of the market.oil rebounds, wiped out 9% tuesday. it bounced back this morning. a prince in abu dhabi says the side -- saudi oil minister, i have never seen anything like this. dollar-yen, goldman sachs says this is where you go for your recession head. 20% undervalued and you have european gas prices, let's see how the markets react. ukraine won't accept russian gas after 7:00 a.m. today so that is more pressure. let's get to our economics correspondent breaking down the inflation picture in the u.s. and china. stephen engle is in china -- is in hong kong, with the latest on the covid situation. tom: juliette saly is in singapore. we will have a markets roundup including the move-in toyota. mark will have the latest on the war in ukraine. investors are braced for data out today, the cpi is expected to come in at 8.1%. the fed president opened the debate again for your rate hikes at the fed. she told bloomberg she supports percentage hikes for now. >> we don't rule out 75 forever. what i will do is

dani: thanks so much, juliette saly in singapore.'s get the latest on the twitter takeover and it seems like there's a new fold in that story every day. there is uncertainty about his bid to take twitter private. advisors are working behind the scenes to seal the transaction. this is what i come back to, the man signed a contract, i guess he failed to do due diligence but he can't really renege on this, right? so it's twitter just pushing ahead? >> it seems that way and twitter released a statement to bloomberg saying they intend to push on with the deal. an sec filing shows elon musk reneging on that full due diligence process. the social media closing and positive territory yesterday after seven straight days of losses. if either party walks away, there is still a $1 billion exit fee. and there is a specific performance clause. if elon musk has the financing in place, he will still have to go ahead with the merger, lessie can show that something has materially changed. that is just what elon musk is trying to do. yesterday another

dani: juliette saly in singapore, thanks so much. have been talking a lot about the recession risk, about consumers as well. retailers really gripped our attention last week with abysmal results. the results this week i wonder give us nuanced appears to be the word today, a more nuanced view of the consumer. macy's strong earnings thing that more people are buying luxury goods. airliners like jetblue, southwest, they have strong earnings, too. i wonder if it's just a different type of consumer, a consumer spending on different things. manus: the shift to services is what was always predicted. dani: totally. manus: that may well help stem off the inflation narrative or the peak inflation narrative. one chart that i simply love, it is hard to use the word in a completely juxtaposed context, because of course, you can now get yourself 30 year paper in japan for the same right, and this is incredibly important for the biggest buyer of u.s. treasuries. could they be falling out of love with treasuries? i love this. the biggest fans, a imp

now let's get to the first word news with juliette saly in singapore. te: boris johnson is to meet his japanese counterpart in london today. they are expected to discuss a plan to help asian nations diversify away from russian oil and gas. this as the un's has more than 300 civilians have been evacuated from mariupol in a new safe passage operation. chinese travel spending plummeted over the national holiday as the stringent covid restrictions cap people at home. tourist spending was down 43% from 2021. the number of rail trips fell 80%. brazil's central bank has raised its benchmark interest rate to 12.75%. it also signaled another height of a smaller size may come next month as policymakers seek to contain rampant inflation. brazil has raised rates by 10.75 percentage points since last year. booking holdings has reported better revenue, benefiting from pent-up demand for leisure travel. shares jumped in after hours trading as it reported a record quarter for gross bookings. as travel executives say they are expecting a surge in bookings as consumers sp

dani: thanks so much, juliette saly and singapore.ing up's of the ecp expected to hike rates for the first time in a decade. will be june or july? we will discuss governing council members remarks head of the special meeting in salzburg today with maria tadeo. this is bloomberg. ♪ ♪ manus: it's daybreak europe, and manus cranny in dubai, dani burger in london. viktor orban delivering this -- the home group won't back it. the proposal is to not quite russian oil. they are happy to talk about a new proposal in russia, it will take five years and exemption from the eu russian oil according to viktor orban. and to access ecb's funds. maria tadeo with us in salzburg. the very essence of this is that fractionalization of europe in terms of banning russian oil, hungry needs exemption -- hungar y needs exemption. will this skill grow from here? maria: or been a specific, and political to the specific seen in the country. he has lit -- written an open letter to the head of the european commission, saying we cannot afford this by the end of the

first word news, juliette saly is standing by.s ready with first word news. >> we start with 18-year-old gunman that opened fire in a texas school. he allegedly warned about his plans on social media. it attacked killed 19 children. the governor says he posted on facebook that he planned to shoot his grandmother and also to target the elementary school. they say the messages were private and were only discovered after the attacks. russia's defense ministry say they are seven ports after they had criticism. they claim they will operate during an 11 hour window each day. the shipments may take time to resume. scott minerd says bitcoin will plunge to $8,000. a big shift. he predicted it will hit $4000 in late 2020. yes dear it has become a mockup for quotes. a bunch of yahoos. . >> we are probably going to hit 8000. that is until we are totally flush. if i were, i would be short. global news, 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 countries. this is bloo

juliette saly in singapore, thank you. hungary says progress has been made in talks on imposing an embargo. this is after a visit to budapest by bonder leiden. what do we know about how close we are to a deal on this russian oil embargo? what does the timeframe look like? maria: we know they want a deal and that is the reason why she went to see viktor orban in good oppression is asking her for more time. we are talking about concessions to a package that has not been approved yet. that is the context. the other big issue is it is not just about the oil. the european oil wanted to -- the european union wanted to band the services involving the oil industry. the greeks are pushing to get an exemption. that would mean greek ships could still continue to transport russian oil. that is another concession in this package. the idea is that this has to get done this week because there is a nato meeting at the end of the week but also g7 finance ministers our meeting next week. if this is not done by then, it is not a good luck. m

juliette saly on the latest move from the pboc. let's go to japan and the yen with the potential to drop you levels not seen since 1990, as the policy divergence with the u.s. defense. he is known as mr. yen, japan's former finance vice minister. >> it will probably go to dollar 1.50, if it goes beyond that it would be [indiscernible] dani: let's now turn to the u.s. don't count on jerome powell to route to the rescue -- ride to the rescue of the stock market. the kansas fed president said the fomc will continue raising interest rates to cool be hottest inflation in a decade. let's go to our chief correspondent for rates, garfield, this is the theme i keep coming back to you. ultimately, does this not reached the fed's goals of tightening financial conditions? >> it would be hard to see how you would tightening financial conditions and yet have the stock market take a percent higher. -- tick 15% higher. which has usually been the expectation. powell has been more circumstance, focusing on the idea that you will hike and hike until

juliette saly in singapore. coming up, the u.k.ncellor speaks to bloomberg on brexit, the cost of. more on "daybreak: europe." ♪ >> no decision has been taken. our preference is to always have a negotiated settlement. they negotiate with counterparts for resolutions on some of the very real challenges the protocol is causing. not least being a barrier to resuming power-sharing in northern ireland, which is what we all want to see. >> when the protocol was signed, it was clear it would happen, there would be this impediment to trade. that is no surprise at all. >> when it comes to the protocol, there is a unique situation in northern ireland. everyone acknowledged that at the time. there was a degree of flexibility and constructive attitude on all sides to recognize -- northern ireland to come up with a solution to work. >> this one doesn't work. >> exactly. what we need to see is a degree of flexibility and constructive attitude to resolve practical problems on the ground. i'm hopeful the continued dialogue and negotiation can resu

juliette saly is in singapore with the latest and asian markets. they are failing to live up to their name in terra. it triggered a flight from many popular digital tokens. let's bring in andrea flock -- andreea papuc. andreea: the market remains -- it is stable to for stability but is not stable as it broke that in the u.s. dollar. once that was broken, it is done. it has undermined confidence in this. this is at a time when assets are being battered by concern about inflation and higher interest rates. this is a volatile class. manus: dialing up a death spiral. coalitions will be mind. april court rose faster than expected. that is keeping pressure on the fed to be aggressive. let's get to our chief asia correspondent on the case of the data. what this is tell us about what they need to do, the direction of travel? enda: plenty to do. very broad-based gains. they are 18%. shelter and cost of new vehicles is also up. prices really hit consumers pockets. there are signs that inflation may be peaking. we will be a long way before gets back to 2%. th

juliette saly is in singapore with the rbnz. and investors fleeing. traders are now dialing back the expected pace of fed hikes is the data cools. let's get a little bit more on that. one of the latest market moves, the two-year paper imploding yesterday -- what does that tell you about the probability of hikes in september? >> what they are telling you is that right now the markets are dialing back those expectations of fed rate hikes. of -- we have seen the expectations come down. you have seen them come down. that is because of this much softer data coming through. the rate hikes that we have seen up to this point, maybe they are starting to work themselves through the economy. of course it is early days, but what the markets are looking for is are we nearing the peak in inflation? is inflation going to come down at a consistent pace? most of the worry is around this slowdown and the minutes from the fed are going to be incredibly important. dani: to that point, we had bostick talking about causing in september. you have bullard switching to the po

let's get the first word news with juliette saly in singapore. ette: britain's northern ireland secretary is set to meet the provinces political parties to encourage them to restore government. the nationalist party came on top of the first time, marking a significant shift in the region's balance of power. sinn fein intends to nominate its northern leader as the region's first minister. hong kong's next chief executive has been named. he bowed to strengthen national security and accelerate the city's integration with mainland china. he said his new job calls for both accountability to beijing and hong kong. 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. this is bloomberg, tom. tom: thank you very much. russian oil exporters are seeing their market diminished. that is as g7 leaders commit to a ban. this is bloomberg. ♪ manus: it's daybreak europe, i'm manus cranny in dubai alongside tom mackenzie in london. g7 leaders have pledged to ban the import of