i think the u.s. has had a policy of accepting any outcome that is agreed-upon peacefully between the two sides of the strait, but we have yet to hear a biden administration official make that statement. in the absence of that statement, i believe the description did raise concern among many people that the u.s. sees taiwan as such an important strategic asset that it would under no circumstances allow it ever to be integrated into the people's republic of china. i think that the danger of that conclusion, if that judgment is made by beijing, is increasingly , this is potentially part of a chinese assessment that the u.s. has walked away from all of the components of its one china policy. we have heard many chinese officials expressed doubt that even president biden statements directly to xi jinping are not credible. i have heard that in various conversations, the president says the u.s. does not support taiwan independence, but the chinese claim our actions do not match our words. my view is we need

and a slightly more positive tone from the u.s. president on u.s.-china relations.er that can be sustained is a valid question. the dax down 0.2%, but brighter in the, thanks to health care gaining. natwest within the banking space, buyback of shares from the u.k. government. let's see how things are breaking down on a sector basis. oil under pressure once again, third straight day of losses, particularly pronounced on wti. consumers, leading the charge, 5%. health care near the top as well. basic resources under pressure. zero point 8%. let's get the geopolitics that we heard around china. china delivering his latest salvo in the semiconductor with the u.s., barring the buying of micron semiconductor after they failed a security review. the foreign minister reiterated the review is necessary for national security and accuses the u.s. of lacking sincerity in asking for talks. let's bring in marc champion, what else has beijing been saying about the rationale for banning these chips? >> essentially, as you said, that there is a security issue. in the broader context,

u.s. citizens and non-u.s. citizens alike come at a time when digital authoritarianism is on the rise, the framework and safeguards established by the united states can serve as a model for how to conduct legitimate intelligence activities in a manner consistent with privacy, civil liberties and transparency imperatives. looking ahead i am confident working with congress we will find a way to preserve these vital authorities while addressing legitimate privacy and oversight concerns. as the director of national intelligence and the attorney general had said, the administration is committed to working with an engaging congress on potential improvements to the authority that fully preserve its efficacy. for inr and state department, and indispensable part of that efficacy is the advantage that 702 information provides for american diplomacy. from advancing human rights and climate security to counting authoritarianism, american diplomats are on the frontlines of every major threat and opportunity that we face in

typically when you see a u.s.ession hit, the fed tends to cut rates by 300 basis points in the year thereafter from when the recession started. only about 125 basis points of cuts are priced in today, which signals interest rates have more room to fall. from that perspective, i see more price appreciation for bonds, but nonetheless, markets have moved a lot so for a tactical investor, you might get a better entry point in the coming weeks. tom: not enough cuts being priced in for these markets next year, but perhaps an opportunity for those looking to add bonds to their portfolio. thank you for joining us in the studio this morning. madison faller, global investment strategist at jp morgan private bank. coming up, we will take a look at your stocks on the move including stellantis. a jump in sales not helping to lift the carmaker this morning. more on that next. this is bloomberg. ♪ tom: welcome back to the open. 23 minutes into european trading day. expectations that the fed will raise rates by 25 basis points la

the u.s. futures coming online. we have had a public holiday on monday. holidays are seeing trading but we see futures pointing higher at the outset. it really is down to that optimism around the debt deal of the u.s. we are seeing the bloomberg dollar gauge holding onto its losses that came in on friday. this had been the haven currency that investors had been retreating to. oil coming in online. again, thinner trading volumes across the last couple of sessions. in terms of what we are watching, when we do see trade coming underway. the big question is whether nasdaq futures can hold onto the momentum. you can see they are outpacing the gains for the s&p 500 futures, and that comes down that we heard from the nvidia ceo. he has been in taipei. outlining it in a two hour presentation on monday, his vision for the company that seeking to capitalize on ai and they have unveiled products. that ai frenzy played out in the session. we saw japanese stocks really rallying with the news chip in the ga

the u.s.one, it has not fulfilled its promises. it has walked away from treaties, whether it is kyoto or paris or the j.c.p.o.a. not the kind of stuff that would make people feel that the u.s. is going to honor its commitments. i think they are saying, we have to do this ourselves. i'm not in favor of it. i don't think anyone else is. if south korea gets it, it'll only be a matter of time before japan and perhaps countries in southeast asia decide that they also need to have a nuclear weapon. nastasya: so we are talking about a potential arms race. before we go down that path, i want to focus on little on south korea at the moment, because watching president yoon saying "american pie" there, it seemed like a full-throated embrace of america, even after the recent revelations that the u.s. has been spying on some of its allies. we thought it might be awkward, but they seem to have moved on from that. is there the political appetite in south korea to try and start an indigenous program within th

border, u.s.fficials estimate 150,000 migrants are currently camping out in northern mexico just waiting for the policy to officially end in a few hours. now, this is not just an issue that will affect u.s. cities near the southern border. brownsville, texas, official says migrants are requesting transportation to get to chicago and dallas and houston and brooklyn and denver and miami. homeland security secretary alejandro mayorkas this afternoon insisted that the biden administration is prepared for every scenario. >> we are clear-eyed about the challenges we are likely to face in the days and beaks ahead and we are ready to meet them. we prepared for this moment for almost two years and our plan will deliver results. >> cnn has teams on both sides of the u.s./mexico border. david culver is in ciudad juarez after making a grueling journey to the mexico side of the border. starting with nick valencia in brownsville for us, texas. do officials in brownsville think they are prepared for whatever mig

u.s.ongress, white house events, the courts, campaigns and more from the world of politics. all at your finger tips. you can also stay current with the latest episodes of "washington journal" and find scheduling information for c-span's tv networks and c-span radio, plus a variety of compelling podcasts. c-span now is available at the apple store and google play. download it for free today. c-span now, your front row seat to washington, any time, anywhere. we are joined today by george croner, the national security program senior fellow at the foreign policy research institute. we will talk about the reauthorization debate surrounding section 702 of the foreign intelligence surveillance act. good morning. guest: good morning to you and thanks for having me. host: thank you so much for joining us. let's start off -- section 702 is supposed to sunset at the end of the year unless congress votes to extend it. what does it allow u.s. government to do and how is it different from other types of

the u.s.anking sector given the current turmoil. how concerned are you with the regional banks stateside and do you think more collapses are in the pipeline >> it seems this is far from over you know, we apply the savings and loan crisis from the '70s and '80s with small banks. this is serious. you would not like to see this spreading. for the time being, this looks to be a particular part of the banking system whereas the stress test and an regulation and regulations seem to be insulating all of the large names in the u.s. banking system from that point of view, this will be a tedious work process there will be further cheaters there might be some economic clollateral damage there kno not to the extent in 2008where the banking system was taken down it looks like smaller banks and regional u.s. crisis >> okay. great to get your view on what is happening in the u.s. banks can i step back and look more broadly at markets and ask what you think is the optimal portfolio construction here? how do y

the u.s.nches closer to a deal ahead of a june 1st deadline house speaker kevin mccarthy says the debt ceiling can no longer be ignored. >> how much is too much? $32 trillion debt. you will pay more in interest in the next ten years in the last 80 years we can no longer ignore the problem. >>> european stocks echoing gains. >>> and out of passion burberry warns after the rebound in the luxury group revenue. >>> warm welcome to "street signs. the end of the week and we are looking forward to the g7 leaders meeting in hiroshima this morning, leaders are arriving we are looking at canadian prime minister justin trudeau who is arriving a few moments ago, joe biden made his way over. rishi sunak in focus and drawing up an agreement with semiconductors with japan. we will discuss later in the program. we want you to see the look at the prime minister's airplane. we will bring you any further arrivals as they come through on "street signs. >>> as i mentioned, u.s. president joe biden arrived in hiros

a u.s. to carrier near bakhmut. over the following three days, they would take back close to two miles of ukrainian territory from russian troops. their commander explains. dry ground, new u.s. attack vehicles helping reverse months of losses. >> translator: everything was planned and calculated. and we have an advantage case we used armored vehicles. this time the weather gave us a chance to use all our might and show what we are capable of. >> yevgeny prigozhin is saying that the reason you took -- territories because the russian forces ran away. >> translator: prigozhin is a liar. because the first to flee were wagner. it is his that fled. and our success is not due to the fact that they fled, but that we conducted a planned assault by circumventing and cutting them off. actually, the unity is bad-mouthing fought to the end. his wagner's where the first to flee. >> cleaned up and back from the battle, three young troop commanders recall the first moments. -- you are nervous, you feel the

meanwhile the u.s.st bit in the global market and people have been trying to avoid that. . they have been reallocating their money to safer places like japan and europe and away from the debt ceiling situation in the u.s. away from political instability, from the lack of visibility as to where the economy is going. this is now not just the most anticipated global recession but the most prolonged one -- the most postponed one. the earnings season for the u.s. shows will the economy is resilient, the earnings are defiant almost. >> i find it interesting you see that reversal once we see a u.s. debt ceiling resolution for japan. does that mean you don't believe so much in the fundamentals of governance and reform that so many people are seeing drive the long-term rally in this market? is this less of an offer opportunity and more of a be to hedge against what's going on in washington -- beta hedge against was going on in washington? >> beta hedge is more likely right now. the long-term things are always in

aoiffinn: even though u.s. stocks added index level art strong, there has been remarkable dispersion. atrial concentration among life cap tech stocks, even when you take them out, you can see they have been flat even negative year to date to me, that suggest a safety trait going on. large caps tech are seen is that safety. there is that broad-based left in markets. fundamentals suggest there should be something more broad-based. we should see small caps starting to rally. because of consumer demand is strong. the fact that we are not seeing a broad-based rally suggests investors still have something to fear. tom: they make the money on the side as well. it also sounds like you are pushing back on the wilson of morgan stanley view that we face and earnings recession down the pipe and that we need to start pricing it in. do you agree or push back on that? aoiffinn: i pushed back in the loop. it is all about telegraphing and market expectations. even though we did see earnings weakening already in line with expert

we have just entered the u.s. market and now we have a u.s. branch. started to hire employees. >> can you tell us what these robots are going to do and build? i don't think most of us realize that the development of space by so many big companies has to do with a lot more than just going and landing someplace. >> sure. the space industry has been changing rapidly. we decided to bring a balance to robotic technology. that is why we decided to enter the u.s. market. >> your end goal for building testing facilities for robots includes a mockler environment and a vacuum chamber. your goal is to boost the technological readiness levels of any given technology. is this the core of your business? how important is this to institutions like nasa and others around the world? >> yes. we have conducted a lot here. we have increased our readiness. we are going to reach this within this year. we needed to prove our capability. this would affect nasa's missions by using this, we have raised -- we will raise us up to seven. >> so fascinating, you have a wonderful web

u.s. default would be potentially catastrophic. we will hear more from yesterday's interview. francine: if you look at the futures, they are in the green for the moment. investors are looking at it and yields. investors are looking at the cooling u.s. job market. tom: slivers of optimism coming through on the geopolitics in the debt ceiling. on the geopolitics, wang yi and jake sullivan having a meeting. the ftse 100 currently gaining four points in the session. we continue to look at the pressure coming through for commodities and that fuels the energy sector and basic resources. on the inflation front, the spanish ibex currently up .4%. we continue to watch the details in data coming through from the euro zone as the ecb members debate how far to go in terms of the rate hike cycle after adding 25 basis points. the cat getting 6/10 of a percent in france. in the u.k., the ftse 100 up .2%. let's look it over and see how things are working out cross asset. on the data front, last night, see

italy signaled to the u.s. pull out of china's controversial belt and road initiative before the end of the year. the country signed up to the infrastructure packed in 2019, the only g7 nation to do so. for more, let's get to maria tadeo. what is italy's thinking in this? maria: you talk about the changing geopolitics, while here is one. as you say, italy told allies, mainly the united states, that it will not renew the silk and developed road, therefore it could leave before 2024. the implications are many. before you go into the reasons why italy will leave, you have to look at why i joined in the first place. go back to 2019. the prime minister at the time said this would be a good deal economically for the country. that this would be good for exports for luxury and so on. but a lot of things have changed . talk about the tensions and geopolitics, the war in ukraine, but also this idea that in europe, trade and politics do not make a big combination. the fact that italy was the only g7 country added pressure

u.s. reserve relations between washington's former ambassador to the united nations, thomas shannon. he highlights the largest economy to the united states as well as brazil's foreign policy and role of china, who has been the nation's top trading partner for nearly 15 years. show to brookings it research. since the inauguration, and he returned to power in january, a rapid turn of events has taken place and is reshaping the future of relations between the united states and brazil. both countries are contending with internal political and economic challenges of their own, but they are also finding new opportunities for cooperation. a month after the attack on brazil's capital, the federal branches of government that mirror the emerges of january 6, 2021 at the u.s. capitol, president lulu visited president biden here in washington, d.c. to reaffirm the commitment to democracy, climate change, and bilateral cooperation on trade and administration. strengthening the relationship with brazil,

u.s. equities climb on the hopes of a breakthrough in debt talks. president biden saying he is confident negotiators can make a deal. >> i am confident we will get the agreement on the budget and america will not default. haidi: joe biden heads to japan as a standoff and washington continues. shery: tencent earnings missed estimates. u.s. futures unchanged at the open here in the asian session after the s&p 500 gained ground today. we saw a little bit more optimism that perhaps we could see a breakthrough in the debt talk in past. we heard from president biden even kevin mccarthy coming out and saying potentially a deal this week was doable. we continue to watch what's going to happen on that front. in the meantime, we had banks rally because western alliance showed deposits were up. that shored up confidence in the banking sector. we had a little bit of pressure when it came to oil prices, they were slightly higher in the asian session, down again all to do with risk on sentiment being of

u.s.. the stock story, equity story is all about japan. we will zero in on that poorly. the ftse 100 adding to the optimism with gains of .4%. we continue to work to the earnings picture as well. bt with job slashing going on, bad news for the workers but arguably good news for investors in that stock. the ftse 100 32 points. in france, the cap already up .6%. let's switch the board intention and what has happened in terms of japan. further gains at a 33 year high. the nikkei up 1.6% in the session. exports are stronger adding to optimism and seven straight weeks now a foreign inflows in two japanese equities. the futures flat and range-bound. the two-year at 4.16. a seven basis point move higher yesterday at the front and term of yields. gold is back below 2000 as the risks around the debt ceiling seems to come off at least a little bit scared 1976 on gold. just down .3%. francine: let's dig deeper into the sectors. i and lots of green. there's only one down which is utilities in the red

the u.s.and when you arrive here. >> we have been traveling since october last year. it is really, really hard. we don't know what we will do because going back to our country is not an option. >> we are doing our best in texas to make sure the border is secure but other states are not having as much success. ♪ lewis: hello and welcome to the program. in the u.s., just hours to go until donald trump's controversial immigration era legislation called title 42 expires. the u.s. homeland security says there borders are not open and want tougher consequencesor those who try to cross illegally. a look at what it will mean now with people waiting to cross the u.s.-mexico border. also, the u.k. is to supply ukraine with long-range missiles to help push back russian forces. it will look at exactly what the missiles are. interest rates in the u.k. are up again at the highest level in the u.k. for 15 years. what does this mean for the economy and rovision? the second semifinal is underway right now. we

we have been significantly overweight in the u.s.. we think the u.s.still a safe haven, just because of all the global ramifications you mentioned before. when it comes to the u.s. again, we see rotation out of cyclicals into growth. again, growth with profits, growth at a reasonable price. growth without refinancing risk, which is important, especially with the banking crisis. this is our concentration. we are seeing a lot of risk locally. the safest bet is the u.s. right now. shery: eva ados, here. always great to have you with us. all the stories we have been discussing including the risks eva mentioned you can find in today's edition of daybreak. you can go to dayb , you can customize your settings so you only get the news on the assets you care about. this is bloomberg. ♪ shery: a quick check of the latest business flash headlines. elon musk is transitioning his role at twitter to executive chair and cto, where he will oversee products, software and system operations. he has selected a new ceo and indicated it is a woman, but did not reveal he

we're getting out of it more from that u.s. session. we had u.s.overy as long as some early results -- pretty resilient labor market figures. the key is going to be that core inflation rating. the fed will be watching this week as well as well as a lot of data here in asia as well as china trade. as well as a lot of these other consumer indicators. we are seeing more upside. particularly when it comes to trading in career markets. >> we are watching earnings in the spotlight this week, shifting to japan as tech and auto companies prepared to release the results. felix joined us now for more on this. what is the big earnings theme in asia this week? >> as you mentioned, japan will be the focus this week because again gain some support after the fed meeting. it may be the last interest rate hike in this tightening cycle. the end is set to strengthen and the company may want to revise their earnings guidance. they previously lowered earnings -- there is forecast. toyota has been benefited from the weaker yen. that can support the revenue in the overse

u.s. dollar flat but anticipation is the debt deal takes us higher for the time being, removing uncertainty. but it depends what asset class were talking about. yvonne: they avoided a crisis so you are seeing spreads. we will see how bills lay out when u.s. markets reopen. we will see what the reaction is going to be but you've seen the dollar take a step back and it is muted overall. there are procedural hurdles ahead. they got a deal done but biden mccarthy have to go back to their parties in the say this is not a deal. i know everyone is not happy about it, there were shortcomings, but we need to get this done by the june 5 deadline. rishaad: what will it mean for the t-bills, what about this as well? lots of political wrangling. stocks were having a mixed bag of it, so they were not factoring in a doom and gloom scenario but it did certainly have weight on risk and it was weighing on risks more and more as we approach the x date. janet yellen said it was a first. yvonne: they've all be

u.s. remains in the position to default on its debt as early as june 1 if congress does not act. c-span will be following the debt limit talks as day unfolds and bring you any updates or public statements from those directly involved. >> a healthy democracy doesn't just look like this. it looks like this. where americans can see democracy at work. where citizens are truly informed. our republic thrives get informed straight from the source on c-span. unfiltered, unbiased, word for word. from the nation's capital to wherever you are. the opinion that matters the most is your own. this is what democracy looks like. c-span, powered by cable. >> now and discussion on u.s. relations featuring washington's former ambassador to brazil. he highlighted the importance to latin america's largest economy to the u.s. as well as the role of china, the nation's top trading partner for nearly 15 years. nation's top trading partner for nearly 15 years. show to brookings it research. since the inauguration,

u.s. ambassadors patterson and bill taylor. the u.s. invests significantly in security cooperation and security sector assistance. although there are cases where it's worked well, there are many more where it hasn't. u.s. ip study group has been looking at why. over the course of two years the group has met with dozens of security political and humanitarian experts and also with the defense industry, civil society leaders and academics. senior internationally respected researchers have prepared for the case studies one on afghanistan, another on mexico, a third on ukraine and a fourth and uganda and the court interdisciplinary team of experts has compared the experiences of the countries pulling out patterns and commonalities that together paint a concerning picture. around four conceptual blocks and the four case studies i've mentioned. the first section examines the reasons to try to capture security sectors. the second describes the mechanics of the capture, how it actually happens on the ground. the third section analyzes the short,

we have u.s.ob openings surging to more than 10 million giving rise to speculation that the fed may have more room to hike. until july. that is leading to concerns about economic pain so we had treasury yields down for another session. not to mention of course we were watching how traders were trying to digest the debt ceiling deal. at the same time, the dollar strengthened. the best month for may which led to pressure on crewed prices which are falling below $70 a barrel. the chinese pmi numbers did not help. annabelle: that's right and it's worth taking a look at how the bloomberg commodity spot index has performed since the start of the year because that is for a slump of more than 10% at this point. it's a reflection of macroeconomic concerns, the downshift in the chinese economy, the industrial pullback in europe, recession risks at a global level including the u.s., that is playing into sentiment. in australia we have local economic data points in focus. we got the latest pmi reading coming

european and u.s. equity futures edge higher today. the head of key u.s. cpi data that may provide clues on future fed policy decisions. there is little tangible progress during yesterday's debt ceiling talks but president biden and republicans pledged to continue negotiations in an effort to avoid a u.s. default. plus, sources say italy has signaled it will quit china's belt and road investment back by year and -- packed by year end amid escalating geopolitical tensions. futures pointing to gains a .2%. a bit of a holding pattern arguably before the all-important cpi print. the estimates are 5% on the headline rate year on year for the month of april. the asian session has been weak setting up for the biggest losses in about two weeks across the major asian marks. checking in on the ftse 100 at the open. currently down .1%. had the boe coming up in terms of its rate decision following the ecb and the fed. spanish ibex currently gaining .4%. on the earnings front, optimism from abn amro come in with a beat and solid set of results for credit agricole. cont

u.s. military attacks. amy: is henry kissinger turns 100 years old saturday, we will also speak to pulitzer prize-winning historian greg grandin, author of "kissinger's shadow." all that and more, coming up. welcome to democracy now!, democracynow.org, the war and peace report. i'm amy goodman. in south carolina, republican lawmakers have approved legislation banning abortions after just six weeks of pregnancy. the bill now heads to republican governor henry mcmaster, who says he will sign it into law as soon as possible. the measure includes a limited exception for fatal fetal anomalies, the patient's life and health, rape and incest to seek an abortion after up to 12 weeks of pregnancy, but doctors are required to report their procedure to law enforcement. the bill passed after a filibuster led by five women state senators, including three republicans, failed to block it. u.s. surgeon general vivek murthy issued an advisory warning of social media's profound risk of harm for young people

u.s. inflation shows signs of cluing, giving the fed room to's pause, but washington's -- to pause, but washington's debt ceiling impasse is still a problem for traders. >> emerging-market debt and financial stability. >> and disney with a smaller than expected loss on its streaming tv business while subscribers missed estimates. international theme parks, returning to profitability. the asian session had a lot of volatility in the regular session. the s&p finishing with modest gains. the nasdaq 100 managed to finish at the highest level since august. yields were down. tech stocks rallied. the 10 year yield at around the 344 level. the two-year yield falling before the 4% level -- below the 4% level. the inflation number, growing less than 5% year on year for the first time in two years. we are seeing oil gaining ground in the asian session after falling in the new york session. we had data showing a buildup in u.s. stockpiles. after hours, we are following disney. sales and profit coming

the u.s. market gets hit in the final minutes of trading with concerns bankers are still struggling to find common ground and tencent due to report earnings wednesday. it is expected to report its biggest rise in quarterly revenue since 2021. annabelle: i'll be watching this results from tencent closely. baidu and alibaba also do in the coming days. chinese equities have been under pressure with further signs of deterioration coming through for the local economy, and economists deciding to cut expectations for this year. broadly in the session, you can see we are setting up for failure. mixed trading, most o risk tilted to the downside. still waiting for more clarity on those u.s. debt ceiling talks and we will have details in a moment, but japan really standing out. we are seeing nikkei futures in chicago trading fairly flat. not the most liquid contract, but broadly, as we know, it is that optimism around japanese shares, yesterday closing at 33 year high, at a lot of economists saying this

if the u.s. will default, that is what everybody says. in a little more nuanced level robert kaplan telling us that the debt ceiling talks could lead to some changes in the fiscal spending, the fiscal programs that could offset some of the money that is already there. i think what is also interesting what chris waller said today the federal reserve board governor is asked how will this affect your decision, he said i am not letting it. he assumes they will get this done, there won't be a default and that obviously is what many stock investors are thinking because we have not seen a huge selloff in stocks. that does not mean we will not see one but every day goes by we get closer to that point where there won't be enough time left to do what you have to do to get this done. the closer we get the more we are going to see a fed officials, probably investors looking at this and will probably awaiting their reactions. >> kathleen hays with the latest let's take a look at one reason why we have seen fu

to the politics on the u.s., speaker kevin mccarthy left the u.s. capitol late tuesday afternoon saying the two parties had yet to reach a deal to avert a first ever u.s. default. for more, let's bring in bruce einhorn. the clock is ticking. where are we in reaching a resolution? bruce: the good news is that kevin mccarthy's deputies said that there was some progress made in closing the gaps in some areas. he said that they were very close in some areas. that said, they are still far part in some areas and at the moment they never -- they do not have any more talks set up. the areas of disagreement have to do with spending caps. republicans want a reduction in spending and want to have that apply to everything except the military. the democrats want to have a freeze in spending rather than a cut, and they are saying any restrictions in spending should include spending in the pentagon. another area of disagreement has to do with work requirements for things like medicaid and food stamps. those are things that republicans are calling for and democrats

of the u.s. military drills. they need to have the satellite in order to monitor and to. track he has been widely condemn. the u.s., japan have all condemned it. because even though kenya considers this right to have the satellite in space. the technology to use it to get it there is banned by the security council resolution. and that is something that the u.s., south korea and japan of all consistently said before the launch. and today, now it has gone ahead. now the technology has been banned. >> clearly, north korea's belligerent on this point. -- paula hancock, angel -- joining me now from cambra, estrella. a senior analyst and defense strategy and capability of the australian shooting policy institute. good to see you on what was really some terrifying moments there in both south korea and japan. i want to take a look at the launch, though first, what could the game have been and since it failed, there's a learning opportunity for north korea though it failed. >> well look, essentially this

and met with u.s. officials and they asked her about her approach to china and her questions, her answers were not adequate. >> they were not adequate because they were leaked to the media. >> it wasn't only what she said publicly. >> the main message privately was you can trust me but not a lot of details about why. although if she answered in greater detail perhaps the u.s. officials might have been satisfied. so i think this was actually a learning process and so ultimately, yes she was defeated the first time that she ran and when she ran she brought to the position a tremendous amount of experience more so thanie i thik many people who don't know taiwan well don't know that she's on this really sort of unique having somebody to be prepared to be president and the effective politicians whose also been the negotiator in the trade organization and the head of the mainland affairsf council and al these different positions that she had and i think she came to understand how to navigate effective play b

the u.s.lbemarle is a company that inc. a lithium partnership with ford. ford has it an electric vehicle plan and investors are liking albemarle who is tied up with that. in terms of the cybersecurity space, there is our top name of the day, micron. china's cybersecurity regulars said it found relatively serious cybersecurity risks when it comes to the company's chips. whether this is political banter or there are actual risks, we will break that down. for now, investors drove the stock down around 5% and it has. some of the losses but we will get into the details soon. scarlet: let's stay on that because we will go now to san francisco and bring in ian king who has covered semiconductors in asia and the west coast. as alex was setting up, it's curious this ban on micron products. what kind of history does micron have with china specifically? is it significant? >> there are a number of things but the big thing to point out is that micron and its south korean competitors doesn't have a producti

u.s. lifted its covid-era immigration policy, the scene at the southern border remains relatively calm. a breakthrough in bakhmut. russia acknowledges the setbacks in the ukrainian city after months of brutal fighting for every inch of territory. erdogan's toughest test yet after two decades in power. the turkish leader is facing the very real possibility of defeat in this weekend's pivotal election. >>> live from cnn center. this is cnn newsroom. >> good to be back with you. so far at least, it appears to be the surge that wasn't. u.s. cities along the border with mexico report fewer migrant crossings than expected on the first day since title 42 expired. the covid-era policy allowed authorities to swiftly expel most migrants in el paso, texas, the mayor said the city saw a spike in migrants seeking asylum in the days leading up to the policy changing. but he says it's been a smooth transition out of title 42. federal officials say there was no substantial increase overnight or an influx

on to the u.s. jobs report and friday's numbers came in hotter than expected once again as hiring and workers pay gains continue to accelerate adding to the fed's headaches perhaps. here's how it bloomberg television guest reacted to that data. >> there is definitely a moderation, a cooling in labor market. >> its movie in the direction that they wanted to move finally. >> we are slowing. >> the data do not suggest we are teetering on the brink of a recession. >> it is good news for the economy that is trying to avoid a recession. >> we are far away from of the job market reports need to start to look like. >> it makes the fed's trilemma even harder. >> i do think the next move is probably a cut, but i don't think it's going to come as quickly as the market expects. >> i think the fed still has to keep rates here for a bit of time. >> the fed will not quit into the labor market wits and this is not a quitting labor market. francine: a host of voices there on the labor market. joining us now to at hi

the u.s. is already paying a price for the stalemate. plus, u.k. wage growth accelerates in the first quarter suggesting persistence inflationary pressures. sterling sinks. francine: this is a look at futures. we were up and now we are seeing pressure on the dax it down .1%. the same for other indices around the world. japan boosted higher by optimism in the economy. overall u.s. futures pointing higher but we are not sure why. tom: a number of fed officials suggesting they are comfortable maybe with a pause coming through in terms of decision-making and of course you have debt ceiling talks with republicans and mccarthy coming out saying there has been no progress so far. the two sides are set to meet later today. consequential and we watch to see if the president does flight to the g7. the ftse 100 currently down .2% lining up with futures which put them pointed to a risk off sentiment across markets. the china data from the disappointment across the data spectrum coming out of china but for

the u.s. came in higher than expected. that shifted the short end of the curve by 15 basis points on the two-year paper in the u.s.. meta came in and taint long and with a $.5 billion bond -- $8.5 billion bond. it is dangerous and yields can move higher very quickly. they are cautious about being at short end of the curve. bitcoin is trying to claw back losses. it taint i 5.5% yesterday after a four month run of where was up 75%. a quick snapshot of equities. i went in reverse order. dani burger is out for the day. she should have been the voice of reason on the equity board. trepidation ahead of the ecb and federal reserve. the nasdaq, meta came with a thundering bond offering yesterday of $8.5 billion. the earnings apocalypse has not arrived thus far. francis chan joins me from hong kong on hsbc earnings. garfield reynolds will hit us with a surprise rba decision. we will touch on u.s. debt drama with bruce einhorn. to the hsbc numbers, to billion-dollar buyback -- $2 billion buyback. noel q

key u.s.awmakers blamed former senior managers at silicon valley bank and signature bank for their collapse. svp's ex-ceo drew criticism for selling company stock less than two weeks before the firm disclosed its extensive losses. some lawmakers also questioned u.s. watchdogs for not doing more to prevent the turmoil. >> we know that your banks were fairly mismanaged. the next obvious question is why, why did you let things get this bad, why to ignore admonitions from regulators. the simple answer, the same answer we find in most questions about big bank failures, because the executors were getting rich. vonnie: the international energy agency expects global demand to climb more previously than expected thanks to china's rebound. it says fuel consumption will rise by 2.2 million barrels per day to a record 102 million this year with chinese demand reaching an all-time high. the agency also sees oil markets on track to tighten supply sharply in the second half. india's crucial monsoon season we

the u.s. launched its so-called war on terror in the wake of 9/11. invasions of afghanistan and iraq followed, with huge loss of life. instability spread across many parts of the middle east. so what's been true impact? this is "inside story." ♪ nastasya: hello there and welcome to the program. i'm nastasya tay. after u.s. president george w. bush launched what he labeled the "war on terror" in 2001, for people in countries like afghanistan and iraq, years of violence, death, destruction and political instability were to follow. thousands were also detained and illegally taken to other countries, many tortured or subjected to brutal treatment and held for years without trial. resistance grew and pushed the u.s. and nato out of afghanistan two years ago. a new investigation from a top u.s. university says more than 4.5 million people died directly or indirectly from the so-called "war on terror." we'll be discussing its legacy with the report's author and our guests in just a few moments. but f

perhaps the u.s. officials would have been satisfied so this was a learning process on their part and so ultimately yes she was defeated the first time when she ran. she brought to this position a tremendous amount of experience. more so than i think many people who don't know taiwan well. it's also been the negotiator for the wto the head of the mainland of horse counseling all the different positions that really i think came to understand how to not get effectively the relationship with china and the united states. it's not necessarily what's the instinct that helps you navigate the relations with either one particularly the united states. she understood when she was elected that she needed to try to keep relations with china stable and had a sophisticated plan that initially laid out part of the speech in down the street. some of that was repeated in the inaugural address where she talked about her policies would be based on the constitution, the governing relations with of the taiwan strait acknow

the u.s. illegally. thousands of migrants seeking asylum made their way to the border ahead of the deadline. while things appear quiet right now, one official says that it will get worse. head of homeland security gave this warning to those seeking to enter the country illegally. >> starting tonight, people who arrive at the border without using a lawful pathway will be presumed in-he will i believe for asylum. do not believe the lies of smugglers. people who do not use availabler asylum. do not believe the lies of smugglers. people who do not use available legal pathways now face tougher consequences including a minimum five year ban on reentry. and potential criminal prosecution. >> earlier u.s. customs and border protection said it will comply with the federal court ruling that temporarily blocks the release of migrants without court noticnotices. it says it will result in overcrowding. the biden administration is expected to appeal. >>> u.s. officials estimate about 150,000 migrants are wa

u.s.efault. >> global markets primed for relief rally on a tentative deal after the debt crisis battered risk sentiment in recent weeks. >> turkish prez on seals a reelection victory raising the prospect of more friction with western government and more uncertainty with investors. for more on the debt limit let's go to debt -- joe matthews in washington. joe, this is a deal that a lot of people did not think could be done. what is in place now? what are the key points they have to come together on? >> the most important thing we can tell you is this extends the debt limit until 2025. that's the most important part in terms of avoiding default. it gets the picture out of the way, the issue of the debt ceiling until after the presidential election. that was something joe biden was not likely to move on. it auto -- also flattens spending for fiscal year 2024. it will increase 1% the following year unless lawmakers come to the table to actually pass a budget that will hopefully be incentive fo

the u.s.ould default on its debt, president biden said that the ongoing negotiation between white house officials and house republicans are productive. but at the same time, also very clear that there are still huge gaps between these two sides. and that much was evident even in listening to the president himself. president biden talked about the need for bringing back a revenue raiser like closing tax loopholes, for example, back into the negotiations. now, that's something that the speaker of the house, kevin mccarthy, has made very clear that he is not going to consider. and it's also clear that the white house and house republicans still have yet to agree on that topline spending number. house republicans still pushing for spending cuts while the white house says that they will accept a freeze on spending at this current year's levels for the next two years. but what we are also starting to see is that the financial markets are taking note of the potential, the increased potential, for the

time, james bullard speaks on the u.s. a quantity -- u.s.after a lot of fed speak endorsing upon tomorrow, a host of flash pmi's from around the world. when say, minutes from the fomc march meeting. we will also get u.k. cpi data. thursday, the turkish central bank delivered to the latest policy decision three days before the country's presidential election runoff vote. on friday, more u.s. data. pce and durable goods. u.k. data in there, a lot to watch out for this week the u.k. prime minister just returning from the g7 summit in japan. he is facing a cabinet scandal and conservative party finger-pointing. joining us is our u.k. correspondent. what is rishi sunak facing? lizzy: remember, he wanted to refocus the conversation, talk about the better relationship with the eu, resetting relations with china, how britain is helping ukraine, but instead he's having to talk about the home secretary who the sunday times reports has a speeding fine, which is she asked her civil servants to deal with. that is possibly a breach of ministerial code. ri

in the u.s. pointing to a higher start. when you look at things they are watching out for, we have a packed week in terms of data, the u.s. consumer confidence later today. the u.s. 10-year yield 3.7520. spain one of our top stories after those early election calls, but preliminary may harmonize cpi rising to 2.9 percent. not as much as traders were expecting. euro-dollar 1.0692. we will see the ramifications of what this means for the prime minister that has called for early elections. that preliminary may harmonized pretty much as expected, actually not as high as expected, it has fallen 0.2%. the white house and republican leaders ramped up lobbying campaigns as they look to win support for a deal to raise the debt ceiling and avoid default. for more, we're joined by bruce einhorn. good morning, good afternoon, it seems like things are getting better but how much progress concretely are president biden and leader mccarthy making? bruce: it is too early to give specific numbers, but both presid

adrian: u.s.secutors are reviewing stock trading by some first republic bank employees during the lender's collapse. justice department is looking at whether anyone used insider information as the bank crumbled in what became the second-biggest bank failure in americans history. blackstone says the investment giant is in talks with several regional banks to explore the purchase of assets. steve schwarzman says pressure on the banks will come from regulators as well as from markets. the so-called queen of rock and roll, tina turner, has died aged 83. the grammy wedding singer was known for her hyper energetic dance moves. her fame took off in the 80's. mick jagger paid tribute, calling her warm, funny, generous and an enormous sleep talented performer. global news powered by more than 2700 journalists and analysts in more than 120 countries. dani: adrian, thank you very much. florida governor ron desantis has officially jumped into the u.s. presidential race, giving former president donald trump hi