tom barkin, bank of richmond fed president. shery: it important conversation. ll also be speaking at the credit suisse asian investment conference this week where we are live from hong kong and singapore. don't miss our exclusive coverage. we'll be hearing from more guests today including oasis management founder seth fisher and former economic adviser to the obama administration -- stevenson. haidi: let's take a look at some of the morning calls ahead of the asian trading day. we are watching the euro yen trading pair. internal measures show the japanese currency weakness is quote, well advanced. noting that the fully managed vaccine rollout as well as the ecb pledging to increase purchases are weighing in. shery: i am looking at the brazilian rial as well. more than expected, bigger than expected rate hike we saw from brazil. natwest markets betting on the currency. also worth noting that there are some political risks for the longer term. brazilian assets, immediate noise will fade with the latest bill being passed. plenty more to come on daybreak australia.

i think it's a promising time. >> tom barkin, thank you very much for coming on and sharing president of the richmond fed. we appreciate it. >> glad to be with you thanks for your time >>> we have 35 minutes left in the session. we are well off the session lows, of course. still in the red for the dow but only down 120. we were down 350 at the low. >>> coming up, facing reality. mark zuckerberg weighing in on the upcoming privacy changes to apple's operating system which could have a major impact on facebook's future. we'll tell you why zuckerberg remains optimistic. >>> as we head to break, check out some of the top search tickers. 10-year yield once again on top, followed by tesla, apple, linde gases and gamestop, we're back in a couple. we see access to fresh food being the global norm, not the exception. at emerson, our cold chain software and technology keep perishable food at proper temperatures, to assure its safety and quality. emerson. consider it solved. when you buy this plant at walmart, they can buy more plants from metrolina greenhouses so abe and art can grow more plant

if let's find out from fomc voting member and richmond federal reserve president tom barkin. thank you very much. a voting member, ap an important voice on that committee. i want to get right into this talking about inflation, cheryl mentioned the growth could spark inflation. the federal reserve chairman said we'll see a modest surge this year, predicting 2.4%. i filled up my car yesterday with gas, it was almost $1 more a gallon than the last fill-up, that's a lot. could you see inflation prompting a move in the federal funds rate by the end of the year? >> our guidance is really clear, we'd need to see us move toward maximum employment. we're 9.5 million jobs short of that. we'd have to see inflation at 2%, that may happen this year, and we'd have to feel it was headed sustainably for an overshoot for some time. the i think we're going to see price pressure, but i want to emphasize one thing. there are what people call base effects. we had three deflationary months in the last year, in the next three months we're going to roll over those, so the reported numbers are going

rishaad: tom barkin speaking to kathleen hays.ts, we are about three minutes to the start of the session. coming up next, we focus on india itself. we have a closer look at india's bond market. this is bloomberg. ♪ haslinda: you're watching bloomberg markets asia. the rbis open market operations have helped keep a lid on the 10 year bond yield in india march higher global yields as well as a record borrowing program. all pointing to more upward pressure. what is the outlook? we're joined by the head of fixed income at idea see asset management. he oversees about a quarter of six going dollars. -- $6 billion. can they continue to put a lid on yield increases when yield increases are surging globally? >> we think it is getting slightly misunderstood. what they're trying to do is try to control the pace of these rises. that is what they mean when they say an orderly illusion of the yield curve. not trying to put a line in the sand. one must understand that control is strictly outside of the domain of emerging-market central bankers.

i thought tom barkin was spot on. the short end is going nowhere.he fed is going to do nothing about interest rates, nor is any central bank. then, you're talking about the yield curve. well, if you look at the yield curve, if you pull up on bloomberg -- for those using the bloomberg terminal, you will see 200 to 250 basis point spread a peak. we could easily get back there. for more, you are talking more like a 2% target for 10 year treasury. then, you put credit spread on top of that and that really starts to compete with equities. then, you are talking about corporate bonds in the 3% area. sometimes it is as simple as that. i would look for somewhat higher yields, which i would expect later this year. what we have seen so far is like an entree. the main course will come when we see how inflation -- higher inflation and really strong growth later this year. manus: jamie dimon talked about gangbusters growth to come. so, if there is gangbusters growth to come, the other note that we've got is bank of america. they say the fed is simultaneously losi

we hear this hour from tom barkin.ong kong at the credit suisse asian investment conference (aic) we will speak with representatives. shery: japan and south korea coming online, a mixed picture. the nikkei and topics down -- topix down since the boj policy framework changes how last week. real estate and materials they declines. the topix down almost 1%. the bank of japan said it will focus stock purchases on etf tracking. the boj set a wider movement range for bond yields. korea is gaining ground, the kospi up .2% after we had news the 20 to exports for march rose for the daily average 16.1% year on year. at sports to china jumping 20%. -- exports to china jumping 20%. the korean won recovery. we are seeing downside pressure on the korean won continue. haidi: the treasury market is when we are watching, into the start of the trading week. an upbeat note for treasuries that could clear the way to push stocks little higher here in asia. we are seeing cindy stocks up .3%, and watching -- sydney stocks up .3% and watching

yields is not the cause for concern, playing down the volatility, tom barkan told bloomberg he's more concerned about the labor market. mr. barkin i've been on the ground talking to manufacturers, you do see this situation. a lot of them shut down for a couple of months last year. when we came back, the amount of excess savings in people's pockets towards the people spending on goods. there has been a lot of demand and they have been behind the curve trying to catch up. when you're in a manufacturing job, it is not as easy as saying one of you just open up another line? that takes a lot of money, a lot of investment and leadtime. people have been working at 110% but demand has been extremely strong for anything related to time at home, outdoor recreation, those kinds of extent yours. people -- expenditures. i hear the same thing you saw in the survey which is that the manufacturing sector is very busy and working hard to keep up. what that does for prices, i do think we will have price pressure in the fall and the spring because i do think we will have pent-up demand as vaccines are rolled out and warmer weather approaches. i do