shery: i'm shery ahn in new york.ht unfolding in nevada last night as democratic presidential candidates took to the debate stage, often unleashing fierce criticism on each other. risk ifrats take a huge we just substitute one arrogant billionaire for another. in democratic socialism for working people, not billionaires. health care for all. the best-known socialist in the country happens to be a millionaire with three houses. what did i miss? >> i am less concerned about the lack of transparency on santa's personal health and the lack of transparency on his home care plan. >> 149 million americans that will lose their current health and servants under senator sanders bill. >> i'm the only one on this stage it has got anything done on health care. >> we shouldn't have to choose between one candidate who wants to burn this party down, and another candidate who wants to buy this party out. is maybee are saying it is the time for the working class of this country to have a little bit of power in washington, rather than y

shery: thank you to you both.e sure to keep up-to-date on this developing virus story by running the function the are u.s. go on your bloomberg. it's the latest global figures from the cdc, headlines from the bloomberg newsroom, and how specific companies may be exposed. take a look at the korean won right now. strengthening against the u.s. dollar. this would be the most in about a month. it is paring back from gains against the u.s. dollar. this strength coming on the back of an fx selloff we saw in emerging markets in asia in the previous session. more concerns over the coronavirus. lookout fors on the any sort of intervention from the korean authorities. also, keeping in mind that the bank of korea may be more reluctant to act on this coronavirus outbreak than they did back in 2015. let's get more market analysis from bloomberg mliv strategist mark cranfield. we are seeing strength again across asian markets. this on the back of another record session in the u.s.. we are seeing the korean won jumping. when wil

shery: i'm shery ahn in new york.resident trump is speaking at --nt base andrews he is also talking about roger stone sentencing as well. we will get you more headlines as we get them as president trump speaks live at joint is andrews. let's turn to walmart. shares are gaining ground after the big outs retailer posted lackluster holiday sales, suffering the same fate as a rival's target and five below. investors remain confident in walmart forecast. how long will optimism last? let's bring in that boil. it seems they had a resilient outlook but weakness during the holidays. what happened? >> as whip target we saw a week holiday from walmart, some issues were their own fault. they admitted they carried the wrong mix of merchandise and apparel, too much holiday stuff. too much red and green in the aisles. others they were planning on the markets, like toys and electronics, said there was not a must-have product that really got people out there shopping. so a mix of issues. because they echoed some of what target had to

shery: i'm shery ahn in new york.ay on wall street from jpmorgan making its pitches on investor day, to barclays chairman being pressed by one of its shareholders. sonali basak, plenty to talk about. let's start with jamie dimon, given the 10-year is at record lows. he thinks growth will be top in the next decade. >> especially for one of america's biggest banks. that interest income will be pressured this year, will recover next year. the on the issues we are seeing in terms of headwinds for interest rates, jamie dimon says they are seeing competition in the investment banking and lending industries everywhere, from traditional banks as well as technology companies and private equity firms. he was not shy about saying he was ready to tackle that. amanda: changes at the top of citi. focusinglike banks are on that high-margin business in the investment banking side. what do you make of the executive shuffle? usually number four or five on our mergers and acquisitions table. the short answer to all of this change is the

. ♪ shery: i'm shery ahn. amanda: i'm amanda lang.e are joined by our bloomberg and pnm bloomberg audiences. here are our top stories. shery: markets are whipsawed on the back of their biggest today lost since 2015. investors are looking for any sign of stability as treasury yields hover near all-time lows. concerns linger about the spread of the coronavirus. health officials are saying americans should prepare for the virus to hit the u.s. donald has announced plans to brief the public. signs the chinese economy is struggling to get back to work as the virus outbreak it continues. we will walk through the numbers that could point to a contraction. we saw u.s. stocks fluctuating between gains and losses. managing to hold onto those gains. .2%.&p 500 gaining energy the only sector that's under pressure right now as we see oil prices at the lowest level since december of 2018. we continue to see concerns over oil demand globally as we continue to see infections of coronavirus rising across the world. secretary of health alec cesar confi

shery: i'm shery ahn in new york. now to an exclusive.omberg was forced to reveal the details of hsbc's impending overhaul. they are planning their third turnaround in a decade, eyeing job cuts, mergers, and write-downs. the bank'sn comes as biggest market, asia, suffers through crises. for more, let's bring in michael moore, who leads the coverage of finance for bloomberg. what will this mean? this is the third overhaul in the past decade. will it just be trying to squeeze more out of asia, when asia itself is suffering michael: that seems to be the already 90%asia is of hsbc's profit, and they will try to double down in the region. growing as not quickly, they see more opportunity. they may scale back on some of the businesses that they are not as dominant in, perhaps in equity trading. you have seen them over the course of the last few years, especially since the crisis. some countries have been selling businesses. you may see more of that. we have seen this from citigroup. these banks want to be global but not in every single country

shery: here are the top stories.irus claims more victims as scientists rush to find a vaccine. china criticizes other countries for travel bands and panic. haslinda: from energy to iron ore. has widespread implications for the global economy. shery: asian central banks try to get on the front foot as the virus spreads. will address the policy options still left on the table. this is "bloomberg markets: asia." ♪ shery: asian stocks falling for the fourth time in four days. sarah: markets are taking a breather after the wrist rally we've seen over the past couple of days. japan announcing they found 41 new coronavirus cases on cruise ships. it serves as a reminder that this is not yet contained, it is not yet solved. as you can see, they nikkei down about .10%. 1%,csi 300 down more than extending chinese stock losses for the week, particularly after that stumble we saw on monday when we return from the lunar new year holiday. .8% and s&pg all by 500 futures taking a breather as well, moving to the downside. investors i

shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. here are the top stories that we are falling from around the world. withstanding the virus on that. u.s. stocks are extending their rebounds as investors pin their hopes on response to the right. the technical snafu at the heart of the iowa caucus meltdown. the new app that was made to make easier reporting was maybe not ready for prime time. disney set to give investors their first real look at how their new streaming service is faring. get you started with a quick look at where the markets are trading. it is a risk on rally. stocks gaining, treasuries rallying. almost every sector in the s&p 500 is in the green, which is seeing its best day since august. industrials and technology firms are leading the gains. the dow is up 1.6%. the nasdaq composite also touching a record intraday high. in thers taking comfort fact that we have seen numbers coming from beijing on containing the virus. take a look at what commodi

shery: i am shery ahn. welcome to "bloomberg markets: asia." friday, a decisive point. the world health organization says it is time to take aggressive action against the coronavirus epidemic as the number of confirmed cases in china -- again. the s&p forced more than 10% -- falls more than 10% as the bank of america warns of the worst shakedown since the global financial crisis. more: south korea records new cases. korea comingth online. let's get straight to the market action with sarah ponczek. feeding through to japan. the nikkei 225 and the topix are both down near 2%, falling for a fifth straight day. both benchmarks well below their 200 day moving averages, and with that, we have seen a bit of a return to the safe haven. the yen on track versus the u.s. dollar for its best week since august. at the same time, we see a decline in yields for 10 year jgb use, yielding -12 basis points. let's switch up the board. south korea coming online, trading at the lowest level since at least october. the kospi down 1.5%. see the asx 200 falling for a

shery: i am shery ahn in new york.es continue to rise outside mainland china with hong kong investigating six more overnight. bloomberg markets anchor yvonne man has the latest. thene, so get us through numbers and what is happening in hong kong. yvonne: that brings the total to 42 in the city, and early this morning, we learned that more than 100 residents in a public estate were evacuated out of the building after two people inside contracted the coronavirus disease, and the latest we heard woman whoear-old lived in the third floor and lived directly below a man who had contracted the disease earlier. he was hong kong's 12th case. there is now a concern that perhaps this virus could be airborne. medical experts and authorities saying they are not ruling out any possibilities, but there is a consideration here that this was transmitted through a transmission via feces. they found out a ventilation pipe of this building that connected to the discharge pipe in the bathroom was not properly sealed so that could have carr

shery ahn: what do you make of this?y finally decided this is a real asset class and they should come around to it and get in the game. traditional asset management firms are looking for growth. the private market has really been that place. and concernsstions about the ability to absorb the money. but the returns have been there. vanguard is acknowledging that. >> one of the things interesting about this deal is the investors. will they be happy with the returns they are getting? >> that is the question. none of us have seen the details. what are they selling? who is getting paid what? what does the return profile look like for the investor? can they be assured that they are getting the best stuff they have? fees will be one side of the equation. another thing raised by the big players are pension fund heads like liquidity. what happens to the private side? you are seeing two pieces of that. the secondary market in the private world continues to grow. you are seeing more and more liquidity. the second part that is more

shery: what a remarkable comeback for the chinese market. we're talking about the shanghai composite recouping 2% of losses at the open. this after policymakers set the yuan 6 at much stronger level than the 7 against the u.s. dollar. asia stocks gaining ground for the first time in nine days. the same not quite story for commodities. we know that there is a lot of concern out there the virus would cause harm to the economy. and that could impact them on for iron ore. we have seen how iron or is continue to weaken after that smackdown for the, the commodity yesterday not looking good for the commodity space. as we speak we know that carrie lam, the chief executive of hong kong, is speaking at this point in time in a conference. she's saying that some headlines to tell you about. saying that the border closures don't affect good, transportation. lam, also says she's saying that in response to panic buying. additional pressure on the economy which is already reeling from a recession there. you are seeing live pictures from the press conference

shery: breaking news at the moment.from city that they have cut their first to $54.oil forecast they are saying the virus outbreak has drastically shifted the chinese in global economic outlook. this is coming as lubricant has also learned that chinese oil demand is set to plunged 20% on this walk down. we are talking about a 3 million barrel a day being widened out in demand from china. citigroup also saying that iron sing to $70 per ton on the impact of this corona virus outbreak. they are saying that the iron priceice and also the oil could see a big hit from the outbreak that continues around the world. brent crude down 8/10 of 1%. 5619. still to come, will india follow china's lead when markets open? economists have serious doubts about india's ability to kickstart growth after the modi governments latest budget. details are just ahead. this is bloomberg. ♪ shery: take a look at the commodities markets as we get more headlines from citigroup with their latest forecast saying that the impact on commodities from the

shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. the top stories we are following from around the world. uncertainty returns as china reports more cases of the wuhan coronavirus. the death toll topping 1300. u.s. stocks rebounding off session lows, looking to extend the three-day winning streak after opening well in the red. a rising debate over canada's relations with china. justin trudeau facing calls to take a harder line amid growing signs of beijing's long reach. aanda: of course, there is chinese impact on the markets today of a different nature. taking a look at the different averages, it is a new count on the coronavirus that seem to rattle stocks today. the north american markets following asian markets weaker. the who saying the new method of counting, which sent the count higher, doesn't necessarily indicate a more serious spread of the disease. but we are watching energy weak, industrials across the s&p. have, coming we out of the white house, we can

shery: our top story, the coronavirus. no proven treatment insight as watchath toll climbs where disinfectant and containment efforts are imposed including a quarantine requirement in hong kong. selina, let me start with you. we have seen chinese researchers applying patents on a drug that could cure or help with the coronavirus. what do we know? selina: they applied for a national patent on an experimental drug. it is not licensed to anywhere in the world, but rushed to trial in china. there is evidence it could be effective and will go into clinical trials in china as early as next week to read even though investors are extremely bullish, could take years to research and develop a novel drug. the world health organization cautioned against any expectations of an imminent breakthrough, saying there are no effective therapies. the death toll and rate contagion shows no sign of slowing down. the number of cases is 28,000. more than 1000 people have been cured. more scenes of chaos are emerging. occurrede deaths there. they

shery: i am shery ahn in asia.gures from hubei showing 411 new cases of the coronavirus and 115 fatalities, slightly up from the day before but down from the peak. the world health organization says the outbreak is manageable. it is calling for more funds, saying donations so far have been disappointing. core inflation claims for a fourth month in japan. next up, manufacturing pmi figures are due within the hour. we also have eco-data out of south korea for the first 20 days of this month. exports rising 12.4% year on year. imports also for the first 20 days of february, rising 4.7 year on year, and now, interesting that the daily exports for the first 20 days have fallen 9.3% year on year. of course, the 20 day number being boosted by the first 10 days of february already as we now are starting to hear the coronavirus headlines impacting the markets and the economy. there have been 82 confirmed cases already in south korea. so for how long these export members will continue to recover is the big question. of expor

shery: i am shery ahn.tlined in the annual stress test as the coronavirus spreads. last year's exercise imaged annual growth slowing as much as 4.1%. biggest banks would rise fivefold. china financial regulations reporter lucy joins us now. analysts saying the upgrade could force fourth-quarter growth to as little as 3.8%. how at risk are chinese banks? >> that is right. the pboc put out this financial ability report last year and outlined a worst-case scenario. we are edging quite close to that. what is significant is the $800 billion that analysts are estimating is twice as, more than twice as much of the current nonperforming loans. analysts told us what is different this time from the 2018 financial crisis, even the 2003 outbreak of sars, is the lack of bank financing to prevent this. it is a tough time for banks but also a pressing time for these smaller firms who are in desperate need of funding where the virus hits the economy. haidi: it is interesting because the pboc in all of its measures have con

shery: thank you.ow the fallout from the coronavirus is just one of the things the fed will be watching in the coming months. it releases its minutes at the top of the hour. it seems to be the balance sheet that has investors talking. ian lyngen here. there is expectation that we will get a meaningful debate on the virus, but i guess the key question is how bad does the virus have to turn out to be in order for the fed to jump into action? ian: i think one of the key questions is, you're not going to know how bad the virus is until after the fact. my concern is this. of uncertainty in terms of what the virus is doing, as well as the impact on the economy. other this for -- through the multinationals, uncertainty, hasn't really run its course. it is the point where that gets extreme enough to prompt the fed into action is what the market is waiting for. shery: we have seen the impact on multinationals. which is prompted central banks to act in the past, right? ian: it is consistent with what we saw duri

shery: thank you very much for that story., barclays ceo faces scrutiny over his relationship with convicted sex offender, jeffrey epstein. more on that next. this is bloomberg. ♪ haidi: barclays shares took a tumble as the lender announces the probing relationship between the ceo and convicted sex criminal jeffrey epstein. we spoke exclusively to the ceo as the company announced. press well-known in the that i have had a long-standing professional -- or had a long-standing professional relationship with jeffrey epstein. it began in 2000, when i was asked to run jp morgan's private bank. and he was already a client of the bank at that time. the investigation is actually focused on transparency, whether i was transparent with, and open with the bank and the board with respect to my relationship with jeffrey epstein.. and indeed, to clear my own mind, going all the way back to 2015, when i joined barclays, i have been very transparent with the bank and very open and willing to discuss the relationship that i had with him. and if

shery: i am shery ahn. the latest business flash headlines. the sec's latest probe of tesla may be related to the financing arrangements in china, according to analysts. in a recent report, ever course as the $1.6 billion in financing tesla received to pay for a shanghai plant may have helped delay the capital expenditures. the report says the dock also could he slay why tesla spent just $1.3 billion on last year. to liftotential investor returns further after surging iron ore prices, and allow the exporter to burst the dividend to 76 aussie per share. underlying earnings jumped to $2.5 billion. the company immediately offered details of any disruption seen from the coronavirus outbreak. shipment targeted to be at the upper end of the forecast range. fortescue one of the top trading stocks in sydney despite the concern of what the outlook looks like. we have analysts speaking to bloomberg saying the pain when it comes to the slowdown in the chinese steel sector is yet to peak. , harboring the earlier gains.

shery: i am shery ahn.ome to "bloomberg markets: asia." haidi: our top stories this friday, the white house raises doubts over china's virus data as hubei province reports almost 5000 new cases and another 116 deaths. alibaba delivers an economic health warning on the state of china's economy, forecasting a fundamental impact on the countries consumers and companies. hit.: huawei takes another the u.s. adds racketeering to the list of charges against the chinese tech giant. >> japan and south korea coming online. let's get straight to the market action with sarah ponczek. sarah: this seems to be speeding through to the asia-pacific region. you see the nikkei falling for a second straight day. the topix lower for a fifth day. this is the longest losing streak of the year, also falling below its 50 day moving average, both down by more than .5% at the moment. we see a flight to safety with the yen trading higher against the dollar and 10 year jgb yields actually higher by one basis point at negative three bas

i am shery ahn. in the chinese mainland and in hong kong. our top stories is monday, the province of the center of the coronavirus outbreak reports 100 more deaths and nearly 2000 new cases, breaking a downward trend in infections. shery: china struggles to control the a break. their coffers are already looking depleted. haidi: economic from the shock has reverberated across the globe, with singapore pledging financial booster

i'm shery ahn. counting down to the open of trade in the chinese mainland and in hong kong. shery: the coronavirus claims more victims as scientists rush to find a vaccine. china criticizes other countries for travel bans and stoking panic. haidi: commodities real from the latest blow. the virus has widespread implications for the global economy. shery: a death rate decline. we speak to china's ambassador to the european union. ♪

shery: markets are positioning with that.he bloomberg showing that koppers gold ratio falling. we saw at the 10 year yield and the 30 year yield falling to record lows. you mentioned the downside risks that you guys are factoring in in your different scenarios. if, given the uncertain environment right now, do you think the credit rating agencies are doing a good job at following all of these latest developments, or are they falling behind the curve when it comes to assessing these risks for these corporations? say the ratingd indices have a different job. they are intended to rates are the cycle. those ratings are supposed to be somewhat stable. in the context of the shock that many clientsates, we speak with our stepping back, trying to assess the situation and not really taking much action. at least on the credit investor side. i think the bottom line is, if this does result in a material shift in the macroeconomic backdrop and really shift us tomorrow the downside scenario, the rating agencies are behind the curve. i thin

shery: i am shery ahn. let's get more on how markets will adjust pmi numbers. taiwan and south korea. joining us to digest the market is from societe generale. we are going towards the market opened today in china and we are expecting it to play catch-up to the global selloff. how bad could it be? >> it could be bad. we expect some selloff. the taiwanese market, the first sale of the year. area wed of big stance could always see some mitigating and one of them would be the national team, the government institution on the large ato avoid too selloff. we could see indiscriminate selloffs. how unfortunate is it when we have expected a rebound when it comes to the eco-numbers? manufacturing pmi has bottomed out. we have started to see the rebound. we are getting the news of the outbreak of coronavirus. how could that be for the economic recovery not to mention the impact? we have really three dimensions to look at the outbreak from a market point of view. shock.rt-term there is it is something that is going to be felt because of where the chinese economy is today.

shery: at 1:30 p.m. hong kong, the c.e.o.m is joining us after gaining ground following his earnings release. haidi: there'll be lots of conversations about the coronavirus. let's check in on how we're seeing markets performing at the moment. the hang seng up about .3%. this despite concerning news of the second coronavirus death, it was an elderly man admitted to hospital there. elsewhere around the region, seeing a bit of caution. this is bloomberg. ♪ . ery: it's almost 1 11:00 >> i'm paul alen in sydney, we're entering the last hour of the morning in hong kong. here are the top stories. death toll passes 2,000, the number infected worldwide is bf 5,000. mass quarantines help buy the world more time. s linda: the virus outbreak, singapore pledges more than $4 billion to lessen the impact of the slowing world economy. >> and a look at the broader impact it will have on the broader economy. this is "bloomberg markets: asia." haslinda: on that, singapore cash infusion to cushion the economic blow of the cree in a viers, i'll s

shery: more coming up.said bank of was politicized, you were politicized. realized it is political not to act. ♪ ♪ the democratic presidential landscape is changing. senator bernie sanders is now the favorite to win today's new hampshire primary, ahead of joe biden, but the results won't necessarily produce a clear front runner to take on president trump. is bloombergw balance of power anchor david westin. david, great to have you. still a long time to go until november, but how problematic can it be, depending on which bulls and primaries we look at, still not seeing a clear favorite? david: this has been a pattern for the last few months and as you know, there are more candidates clumped together than normally we have at this stage in a presidential race, we have at least five candidates really in the running. bernie sanders is favored tonight, but you have to watch carefully because 42% of these voters are independent and if they break for pete buttigieg, in second place, he could overtake him. the other

this is bloomberg. ♪ shery: the u.s.y says he is confident russia's gas problem does not have -- russia's gas pump does not have the technology to complete the pipe in the baltic sea. i think opec is in a different position than it has been the last four or five decades. with regard to their upcoming meeting, i would expect them to consider cuts. it would be interesting to see if all the members of opec follow the cuts. that is partially the markets expectation. i was looking at some of the oil prices today. we are up about 2% or so on brent. we will seeorward, opec manage its position in the marketplace somewhat aggressively. we will have to see what they decide. >> the demand side of the equation looks to have been weakened substantially by the coronavirus. what is your reaction to the coronavirus on the market? >> we are trying to figure out, what is the virus? do we have a complete picture of the virus? how fast does it spread? what types of populations are most affected? the scientists, the doctors are trying to lea

shery: thank you very much for that update. despite the risk off tone, the outlook for commodities has been a boost from the wave of policy support across asia amid the virus. our next guest says the epidemic delays and expected rebound in base metals and oil. we are joined by dominic schnider, head of commodities and asia fx macro at ubs global wealth management. always great to have you with us. we are seeing a rebound in some commodity prices, including copper, ion or, and aluminum. we have seen this massive decline in iron or imports and this is only the figure for early february. already seeing that plunge. even if we see a slight rebound in prices, how sustainable will this be if we are not seeing a rebound in the chinese economy and the outbreak continues? >> i think we really need to separate what happened in february and what is clearly a write off in terms of economic activity. looking at the second quarter of china growth, first quarter's going to be below 4% year on year. the second half of the year toward 6%. that

shery: great to have you with us. appreciate it.reng up, lawmakers stepping up their efforts to fight climate change and addressing the nation's aging water systems. it will discuss the evolving topic of water safety with kellogg schwab. this is bloomberg. ♪ ♪ this is bloomberg markets. house republicans are unveiling their plan to combat climate change today. in answer to democrats who have dominated on the issue. public health officials are calling for water safety to be prioritized. it is already playing at the -- out of did the state level. state level. >> we are making a huge investment in drinking water infrastructure. settlement money we got from exxon. we are doing a taxpayer free. for more we welcome kellogg schwab. he joins us from baltimore. professor, so interesting to hear the governor stress, no tax dollars. in a way that undermines the importance of the issue. i we missing the importance of water safety? kellogg: water safety is incredibly important. a drink of clean water from the tap is one of the most undervalued a

shery: and i'm shery ahn. china's markets open in less than an hour. expecting a cut. david ingalls joins us. it is that time of the month. the pboc has already laid the groundwork. we have seen the cuts on medium-term lending facilities. banksy have now given the with a 10 basis point cut more directives. they've given the banks a tangible incentive. banks, [indiscernible] it is not as if the pboc actually cuts the rates, but based on guidance, i would imagine -- [indiscernible] isor 15 basis points roughly what we are expecting. the bondrtantly, markets have been pricing this in for several weeks now. think the magnitude is what comes next. , some economists, whether or not this can be frontloaded and how much of that is toward the back half of this year. david, turnover is back. >> yeah, we hit that milestone yesterday. the last time we saw turnover this much was april of last year. we were going to what we thought was the recovery in the chinese economy. then we had tweets from donald trump. it is an interesting milestone in the sense that you are

shery: i am shery ahn. welcome to bloomberg markets: asia.of apple's revenue guidance for the quarter. the company says the coronavirus outbreak has slowed revenue and manned. -- and demand. hsbc reporting full-year results. regulation, billion-dollar write-downs and cuts to trading debts. our cross asset reporter, sarah ponczek. news out of apple. we knew that they would be impacted by the coronavirus but now management squarely saying they will not be meeting first quarter guidance. plenty of suppliers across the asia-pacific region. we will start with a broader check and you can see the nikkei falling 0.6%. the seventhfor straight day. we also see the yen strengthening after that news from apple did come out and we can see the 10 year jgb yields fourng steady at negative basis points. we can see this trading in the 0.25%. we doer by trending afters u.s. markets were closed for the presidents' day holiday. stop holding steady at the moment. i should mention that they both get more than 50% or half of their revenue from apple. we could see a

scarlet: for more on the coronavirus, let's bring in bloomberg's shery ahn.hats keep rising i am paying attention to are the people been caught up in this inadvertently. there is a cruise ship wandering around asia, trying to find a port to embarq. no one will let them. shery: they tried while, awayand, they were turned on concerns that there might be people on board with the coronavirus. february 1.d it was supposed to be a 14 day trip. they still have fuel and supplies. i have seen a ship docked where we have more than 100 people, confirmed cases of the rotavirus. -- the coronavirus. given that it is such a close environment, the concern is, will people just be spreading it around to each other? romaine: there has been some criticism of the way beijing have responded. we are from the prime minister of singapore. shery: he reassured them, something that played out well throughout singapore. videoeased a nine minute on sunday and said the fear viruse more harm than the itself. this wasd people that not as deadly as sars. there were long cubes around -- es aro

shery: no wonder we are seeing stock markets react to that.e saw losses accelerating after we got the cpi number, growth of more than 5%, accelerating the faster since october 2011. we have pork prices gaining 116%, and we saw more pressure across the chinese markets. let's get the latest on the markets with sarah ponczek. sarah: another risk off session but benchmarks are off. down near half a percentage point. if you look at where the benchmark was pre-coronavirus, we're roughly 7.5% of those markets. senger, the hong kong hang down 1% were so, the nikkei lower. the s&p 500 futures climbing their way to trade relatively unchanged. this does come after the hang and s&p 500kkei, last week all had their best week since mid-december. let's look at the board. it's showing us a decidedly more optimistic picture, interestingly enough. if you look at the aussie dollar higher today, the best performing g10 currency at the moment. meanwhile, you look at the safe haven of the yen, for example, dollar-yen, you look at the dollar higher versus the yen, t

shery ahn joins us with the latest.tory of the last several days is that people are not just talking about containment. shery: yet president trump and his top officials keep insisting that it has been contained. yieldve seen the 10 year fall to record lows. there are concerns that this will have a major impact on the u.s. economy. in the meantime, larry kudlow coming out this afternoon and saying that this has largely been contained. the next stepis here? is there any sort of coordinated effort? are people working with beijing and the italians? china we have seen the who team working diligently. but they are saying, outside of china, the world is not ready. saying last week that there was not enough funding out of the money they were asking for globally. the cdc warning that if this comes into the u.s., they are not prepared. we are talking about only some states and regions having the right test kits. this means that because this has such mild symptoms, it could be silently spreading across the united states. joe: we h

shery: thank you.k at the kiwi dollar, surging after the army sent the signal -- after the bank sent a signal that the cash rate would be left at 1%. vanke governor adrian orr is briefing the press on his decision and is saying that ocr at 1% is very stimulatory and is pleased to see inflation expectations around 2%. the kiwi dollar now gaining ground, jumping 1%, government bonds also extending losses with the 10-year yield climbing as the governor expressed his thoughts on the cash rate staying at 1%. this is bloomberg. ♪ ♪ in the u.s., we are watching the results of the new hampshire primary, senator bernie sanders leading the way. our chief washington correspondent kevin cirilli joins us from manchester. is bernie sanders the front runner clearly, or will we see, little -- a mottled result like ddled result like iowa? kevin: senator bernie sanders appears to have a big night, but the other big development is amy klobuchar is apparently in third place, she needed to do that for her campaign to conti

shery ahn joins us. already company commit its china made, it would be really tough., the situation makes it even harder. shery: what is happening in china right now, there is a lot of reason that they would want to start middle of this month. a release point for beijing could be disclosed within the phase one trade deal. or otherr unforeseeable event delays the party from complying with its obligations. basically, horrible things happen in your country, we can talk about it. we have not seen any moves are any confirmation that this will happen. $32 billion of agricultural purposes -- agricultural purchases. oil demand must have been cut from china given what they are facing. romaine: tied into all of this is the idea of economic growth. be, apparently china might considering reducing its 6% target for growth? shery: it didn't mean too much. perhaps people have said, time to give up the target. still, they have held onto the around 6% growth target. perhaps this may be in the works, according to sources in china that are telling us they are seeing a big impact on the

here with the latest is bloomberg's shery ahn.nningory when it came out today and it caused a huge reaction in china as people see this person who is kind of a hero, one of the first to warn about this, has succumbed to it. shery: there was a lot of criticism after this doctor came out with a warning last month in december, that this coronavirus was a new type of virus that could resemble something like sars. then he was actually confronted by police. this came out, there was a lot of criticism that this was a systemic failure from the chinese government. now, we have conflicting reports on what is happening to him. the editor of the global times, after announcing he had passed, came out and said now they are trying to save him at the moment. joe: i believe in the last several minutes they are now saying he has in fact died. what is a very strange day a back-and-forth headlines. romaine: let's talk about some of the travel resections. obviously we know that wuhan and certain sections are kind of on lockdown. we have heard from chi

bloomberg'sd by shery ahn and drew armstrong.t is sort of the next thing we are looking from your perspective in terms of the official response in mainland china, and uncle, and elsewhere? shery: i would like to see more coordination. ofhave seen the wto complain an international health emergency. yesterday, the u.s. was saying they offered support. saying you didck not really do too much. at this point, we have seen hong tog take its own measures close most of the checkpoints. that has been a great point of contention within the hong kong society. seeing the first death outside of the mainland. this will cause more chaos and unrest inside hong kong. has kind of taken a a lot of impressive measures to try to keep the economy humming. ask the u.s. for a little bit of flexibility on the trade deals. shery: they came out of sort of a mouthpiece for the chinese government, citing a researcher saying, perhaps habits will be delayed in the quarter, they could make up through an increase for the second quarter and later part of the year

shery: researchers saying that we could see the peak this month.he problem is that this is a very contagious disease. the death toll has topped sars now, at least 910 people dead, 40,000 people infected around the world. by the time this in, according calculations, it could be around 500,000 people in wuhan infected. sonali: they are still warning theotspots, but what are dangers here? shery: they have been talking about these new inspection hotspots and some provinces, including ones where we saw confirmed cases arising. the director general coming out and saying that this is concerning because we have seen these infections of people that have no travel history to china and that this could be just the tip of the iceberg. that super spreader event, we have seen a few places linked to a hotel in singapore and a ski resort in the french alps. scarlet: thank you very much for the update. bloomberg's shery ahn. we know the outbreak is starting to reverberate into the global tech space. some companies are currently reopening factories after having close

shery: we are talking about 106 deaths. more than 4500 cases. every day it seems we have more confirmed cases. [ringing]>> we are looking at a rally in u.s. stocks recovering from losses the last two days. if you wanted to look for a catalyst, economic data, goods, manufacturing all on upside. shery: apple came out with results topping market estimates on iphone demand. but ceo tim cook says it has reduced operating hours in factories in china. reducing operating hours for many of the stores. how big is the risk of disruption when it comes to the apple supply chain? >> it is a clear issue and clear overhang over the company's business. from a financial perspective, it seems like they are optimistic about it, given the strong guidance they are providing for the second quarter. >> the fed to release its policy decision later today. economists are not anticipating a change in the key rate decision. >> a nothing burger from the fed. no change in the target range. 1.5% to 1.75%. no word on when the fed will stop to increase its balance sheet. >> we b

. ♪ shery: u.s.utures picking up and accelerating gains at the moment rising 0.7% but still at a time when we see asian stocks getting off to another brutal morning, the rally in bonds has eased. asianxt guest expects fixed income and credit markets to get more support from the monetary and fiscal policy side. joining us now from singapore is neeraj seth, from blackrock. thank you for joining us today. outperformance in the credit market across asia. what is driving this? the key, whenk you think about the credit markets, it is a combination of the fundamentals of the valuation and the drops. valuations in asia have been fairly attractive for the last 18 months after underperforming in 2018 and to some extent in 2019 compared to develop to markets. when we think about the macro backdrop, we have a mix of a meaningful readjustment or recalibration of the global growth and the outbreak of the coronavirus. one thing that has not changed is the demographic backdrop and the need for income. there is some

shery: is this another wall street bank rang to get main street customers?> i think that is what is driving it. right now they cater to the wealthiest u.s. consumers and that will give them access to more retail investors. analysts this morning on the call seemed concerned about the dilution morgan stanley could see, and we will see if those concerns kind of linger, but it seems like morgan stanley feels really good about the move and is excited. you know, gorman himself said he looked at this asset many times over the past 20 years. i think he was excited about something that gives them a bigger presence and wealth management. >> the ceo of unicredit has emerged as one of the main contenders for the top job at hsbc. the 59-year-old french executive is said to have been in talks with europe's biggest banks as well. we have seen a lot of moves at the top of european banks this week. what do we know about this story? >> we know that they are in the final stages of appointing a new ceo of the hsbc. this week they came out with strategy. the share price fell on

shery: we have breaking news at the moment.oised to pay roughly $3 billion to settle federal investigations into consumer abuses that were rampant at the bank for years. this is according to a person with knowledge of the matter, saying the doj and sec may announce penalties as early as friday. the company isn't expected to plead guilty to a crime. this as they very much anticipate a settlement and this marks the largest yet for a series of scandals that has already claimed to ceo's and billions of dollars in operating losses tied to legal costs. fargo to pay roughly $3 billion to settle federal investigations. claudia, let me talk about banking in china. we continue to see these measures to stimulate the economy. will this strain the banking sector as we continue to see perhaps nonperforming loans rise? claudia: interesting question. in china, you have 100 million, which i think is probably the area that could be the most under pressure given the virus. at any given time, there's about 22 million on watch by the banks. that is

[applause] >> sheri bader. [applause] >> and coach mark walker. [applause] >> and again, i'd like to invite principal sherry bellisi to come up for a photo. >> the hon. london breed: again, thank you to all the players, the coaches, the managers, the principal, the teachers, the alumni, the parents, the friends, the family. congratulations again, and i think what we're going to do at this time, since that concludes our program, we're going to go probably take a -- go down to the rotunda at the beginning of the stairs and take a picture. in the meantime, stay focused on your grades. make sure you don't give your teachers and parents a hart time this year. walk around like champions because you are champions, and make sure that everybody knows it when you step in the room. thank you, and congratulations.

shery: singapore, hong kong, china. moon jae-in of south korea also hinting that stimulus measures would be coming soon. more measures to support the economy as we continue to see the outbreak. the singapore showing their biggest budget deficit since at least 1997. for the next fiscal year, they are planning to spend $4.6 billion, which also includes $800 million just fighting the virus. they have more than 70 confirmed cases. romaine: there were commitments in the phase one trade deal and people it would be hard for china to meet those commitments given the fallout of the coronavirus. shery: we have seen signs from beijing that they will follow on those commitments. we have seen them lift some of these. we continue to see the signs dot they will continue to the stimulus as well. joe: don't miss this. the fed releasing its minutes tomorrow at 6:00 p.m. eastern romaine: the number for u.s. housing start at 8:30 a.m. eastern time joe: this is bloomberg. ♪ taylor: welcome to "bloomberg markets." i am taylor riggs, with pau

shery: we are seeing more and more businesses affected by this outbreak.ndai motors become the first global automaker to halt production outside of china. what are some of those businesses seeing the brunt of this outbreak? i was planning to go to disneyland in hong kong and now i can't. kidding. but if i wanted to i would not be able to because the park is closed. disney was out with some lines on how this affects their business. you look at what's happening in the casino space. from midnight last night through the next 16 days, i believe your next guest will dissect this for you, everything from casinos, bars, even the churches are closed in macau for the next 16 days. i understand what the business impact is going to be like. are starting to get more tangible numbers to back up these disruptions as well, there is a note out saying the two-week shutdown in macau could result in a decline of 50% in revenue. that goes up 70% in macau for the rest of this quarter. >> thank you so much. we will be talking about macau shortly, but we are getting the latest li

. ♪ ♪ >> live from bloomberg headquarters in new york, i'm shery ahn. >> welcome to bloomberg markets are the top stories we're following from around the world. stocks are off session was after the dow and s&p 500 hit correction territory, plunging 10% in just six days. on yields sank to new record lows in oil prices headed for the worst week since 2014. coronavirus the epidemic in the europe and the middle east with the first case on u.s. soil without a known origin. plus, what it all means for global monetary policy. the reaction from central bankers and how effective easier policies might be in a -- in the face of a growing outbreak. ♪ >> a quick check on the major averages, we had been watching these markets responding to the fear and new forecasts from individual companies and reduced profit outlook numbers big names like j.p. morgan and goldman sachs. markets are well off the lows of the session but still in negative territory, leading declines for the broad s&p 500's real estate, energy, technology and health care is the best performer but it is not exactly performing well. the

>>broward sheri gregory tony attending is difficult. >>to come in and see althese young folks given us applause and sam, thank you for services undetanding that not too long ago we came up short broward schools superintendent robert runcie ao here sharing some of what the district has done. >>since that day we've invested over a $100 million in safety and security measures, including adding thousands of additional video surveillance cameras. >>and we have to continue to safeguard this community. it continued to heal together. >>president trump is officially diverting billions of dollars fr the military to the border wall, i'm alexander le mon at the white house coming up, i'll tell you about the criticism from both democrats and republicans laughed we continue our black history month sers by troducing you to a man who's breaking barry barriers in space and tom steyer: listen, every democrat runni for president is better than the criminal in the white house. we all have progressive plans to address the big challenges facing our country.

sheri's deputies say colin curtis drove thicar into a winey in healdsrg on tuesday and got stuck in a ditch. she was caht on surveillance. breaking to a storage building in damaging the interior whiltrying to access another room, he then stole a car with 2 passengers and 2 handguns inside deputy say the passengers were compliant and were not involved. florence. >>i want to check time and high pressure tting along the west coast. at least most of that rain lots of sunshine to california. goopart of oregon sethe rain though up in the city northwest there get the rain in parts of portland also the seattle just keeps coming there for us we're staying dry for now in out the this evening you see the sun setting on the bay area, the golden gate bridge lile busy out there. but it is cloud-free we may see couplepatches of fog. overnight tonight into early tomorrowmorning temperatures around the bay area a little cooler e coastline you will find some patchy fog there half moon bay, but inside the bay he come the sunshine and those temperatures starting to warm up 66 in redwood city 67 in mount