i'm vonnie quinn. this is bloomberg.s, the chairman of dalton investments with expertise in asian equities. how is the week that was been for you? >> it has been a great week. we don't trade bonds, so not such a terrible thing for us and we are not invested in highflying u.s. stocks, so it has not been bad. here? it was a bit of a wobble certainly and perhaps showed some of the fragility if we get the liquidity removed from the system. >> it is interesting, we've talked to a number of clients who are pension funds and increasing the 10 year rate and long-term interest rates has allowed them to sell off some of their equity portfolios because they are able to release liabilities because the interest rates are higher. higher interest rates affect equities through other means because it provides an alternative investment behind -- besides equities but we invest primarily in asia and the asian growth story is still intact, and as we are value investors looking for companies to buy that are good companies that we can buy the

vonnie: the u.s.enting a law that could see chinese companies removed from stock exchanges. the trump-era law would require chinese companies to submit to regulations. news on air and on quicktake powered by 2700 journalists in more than 120 countries. haidi: sticking with that scrutiny from beijing, leaders playing down the scrutiny. some impressive numbers from tencent, really striking this note of confidence that it will do fine even with regulatory restrictions. do you expect any kind of regulatory over start really affect the main part of how tencent makes money? >> i think that is in the conference call, they made it clear that the regulations, but given that they have always been cautious, i think the impact will be limited. i think the other thing a lot of people are quite interested in is if we chat -- wecheck will open up to former competitors. i think some analysts are raising the question because tencent -- in history, some of tencent's competitors are in a more difficult situation of goin

vonnie: u.s. law enforcement officials are warning another group maybe plotting to attack the capitol on thursday. capitol police say they have received intelligence about a plan to attack an area. march 4 is seen by some extremists as the true inauguration day. new york governor andrew cuomo has brushed aside sexual harassment claims, but he sought to contain growing damage and said he now realizes his past comments and treatment of two employees and another woman made them uncomfortable. spacex has successfully landed a rocket in its third test flight. unfortunately, the craft did explode in a fireball afterward. the rocket appeared to be leaning and blew up. despite that, this signals progress for the program that elon musk hopes will one day take humans to mars. global news 24 hours a day on air and on bloombergquinttake, powered by 2700 journalists and analysts in more than 120 countries. >> not looking pretty in asian markets. asian yields are also surging. traders assessing data pointing to

i am vonnie quinn. this is bloomberg. >> still ahead, the stalled vaccine rollout in hong kong and how it will impact the prevalence of vaccine hesitancy. the professor joins us later. up next, the imf is raising its world growth forecast but only two countries are driving that positive outlook. this is bloomberg. ♪ >> is the global growth glass getting more than half full? it now looks stronger than it did two months ago. our bloomberg economics and policy editor kathleen hays is here with what the drivers of this optimism are. it also comes with a caveat. kathleen: this is a curtain raiser for the imf world bank spring meetings, which start next week where she was talking about what she sees, what the imf sees in the global economy, and very interesting, caught a lot of attention. she sees the forecasts that were made as recently as january, getting upgraded to go to the far right hand. he can see the imf was looking for global growth, going from an estimated 3.5% down in 2020 to 5.5% this year and ab

i'm vonnie quinn.rg. haidi: still ahead, we have more interviews from the credit suisse asian investment conference. sophie kamaruddin is on the ground. sophie: we keep the focus on financial services players disrupting the game. we will sit down with the ceo and founder of australian unicorn air wallets which is valued at $2.6 billion. later this morning, we will check in with the ceo of hong kong first virtual lender to go live. we will talk about competition for customers and drivers. plenty my head. this is bloomberg. ♪ -- plenty more ahead. this is bloomberg. ♪ sophie: good morning. i'm sophie kamaruddin in hong kong for the asian investment conference. among the companies attending today is air while experience i will be sitting down with the ceo and cofounder of the company which raised $100 million in its latest funding round, pushing the valuation to $2.6 billion for the australian payment unicorn. good morning to you. ceo of aurwallex. congratulations on that. the rapid global adoption of dig

i'm vonnie quinn. this is bloomberg. haslinda: still ahead on bloomberg markets asia, in today's equality segment, we hear from linda bernie, the first indigenous woman elected to australia's lower house of parliament, and how the black lives matter movement inspired her to push for more change. rishaad: next, cebu air's vice president joins us to talk about how the vaccine rollout is raising hopes for a revival for the philippine's largest budget carrier. this is bloomberg. ♪ this is bloomberg. ♪ haslinda: they see no meaningful recovery in the global airlines sector for at least three to four years. the outgoing ceo says the market will emerge much smaller, as some carriers simply will not survive the pandemic. he spoke to bloomberg about the industry. >> we ask for all passengers to be tested. now we have a vaccination policy almost everywhere. we should ask government to set a reopening plan, a roadmap for reopening air travel which is consistent with their testing and vaccination strategy. the only state which has s

i am vonnie quinn. haslinda: still ahead on bloomberg markets: asia, shareholder of toshiba gather today for an unprecedented vote that could test the country's commitment to better corporate governance. we will discuss what is at stake with our guest. rishaad: chinese telecoms companies ahead of talks with alaska. this is bloomberg. ♪ ♪ rishaad: toshiba on absolute terror at the moment. active hedge fund manager is questioning the two's proposals as they back to motion for april. this is backing this probe into 2020 results and that means that we will be having an investigation into what some describe as dark arts and what happened at that agn. -- agm. we have more details on this and indeed will be talking to kilc hiro kobayashi, and that's coming up later this hour. let's have a look at what else we have out there. the u.s. and china making headlines. right? haslinda: the u.s. setting a low bar on expectations for the biden administration, but face-to-face meeting with china's officials this week. th

vonnie: the u.s.orea have reached a tentative deal that will cease all raise funding for american forces stationed there. there are about 29,000 u.s. troops in south korea and the issue of funding had been appointed under president trump. talks began soon after joe biden took office, and the pact now heads to ratification by lawmakers in seoul. reports from thailand said the government is planning to relax quarantine rules for foreign visitors from next month. it is to boost the vital tourism sector after a year of restrictions. the bangkok post says talks later monday will discuss letting foreigners leave their hotel rooms after just three days of mandatory isolation, all they will still have to stay on the hotel grounds. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. haslinda: looking at markets asia looking pretty tentative. gains and losses after a steady start. the

vonnie: the u.s. secretary of state antony blinken criticized north korea for human rights abuses at the start of his visit to seoul. ahead of the meeting of his south korean counterpart, he says pyongyang continues to commit abusive citizens. >> continues to commit systemic abuses against the people. we must stand against them. vonnie: global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: coming up next, washington moves to ban more chinese telcos. we will be asking huawei's u.s. chief security officer what it means. this is bloomberg. ♪ haidi: u.s. regulators have taken a step toward buying unicom and calm that. let's get the latest from beijing. tom mackenzie is there. what is driving the latest escalation? tom: what it comes down to is security and control. controlled by beijing, controlled by china. that is the assessment of the u.s. security agencies. they say china

vonnie: the u.s.tions to block the construction of a nearly completed russian natural gas pipeline, fearing that it will give kremlin more leverage in the region. they could target the project's parent companies. global news, 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. haidi: let's take a look at the play when it comes to markets. what you saying? sophie: risk off friday with stocks falling, bonds rising. currency little changed and the dollar holding onto its overnight. getting derailed with the u.s. 10 year rate touching 175 in the new york session, and the aussie benchmark yield on 84, this as we see banking stocks mixed in sydney. and off by 7/10 of 1% and energy also a big drag. this is wti extending losses for six straight days, falling for 60 bucks per barrel. we see asia adding to the pressures. rbc capital saying do not fight the constructive correction in oil seeing that

i am vonnie quinn. bloomberg. >> it is time now for morning calls ahead of the asia trading day. goldman now flagging caution over continued volatility in rates, and what are the implications for emerging markets? >> to navigate what goldman is calling this, they are saying that you should protect against rate shocks from the u.s. goldman reaffirming encyclical and grow space in the em space. so they are favoring bank stocks, and they are sticking with low yield there yash -- low yielders. goldman saying this confirms that em policymakers are less likely to look through inflation pressures, so they expect a hawkish shift by central banks which could be supported for em currencies. goldman pointing out that last and equities, they have lagged, but the real rate moves down. heidi: what is rbc capital seeing when it comes to where we go from here? >> the team over at rbc, they are saying the current soft patch is largely close driven rather than fundamental distress. taking out the momentum for the scene o

i'm vonnie quinn. this is bloomberg. haidi: scott morrison is expected to announce a cabinet reshuffle. michelle bratton joins us for a look at what to expect. canada is the latest country to be hit by chinese sanction over the treatment over the ethnic uighur minority. this is bloomberg. ♪ shery: i downside of about 2% -- we know the ministry of commerce dumping tariffs on australian wine imports. china will impose the tariffs of more than 200%. treasury wine is the biggest winemaker known for its 10 folds brand. treasury wine coming up, acknowledging that termination, saying they will be going ahead with a detailed response plan to retain long-term growth and strength in its business model. there is talk from the wto from some of these winemakers. beijing is imposing sanctions on individuals in the u.s. and canada. the fallout is also intensifying. tom mackenzie is in beijing. with the current tally, we talk about the business impact as well. tom: we saw beijing ramping up its response to what was acorn aided push by t

vonnie: prime minister boris johnson says the u.k. track to live pandemic restrictions by late june, and is cautiously optimistic it would not be a need to impose more lockdown measures again adding the country infection rates are the lowest in six months. however johnson warned against becoming complacent. >> i am hopeful and i do not see anything in the data now that would cause us to deviate from the roadmap but we have to remain humble in the face of nature and be prepared to do whatever it takes to protect the british public, or approach throughout. vonnie: in japan the vaccine chief says the country rollout will be slow and will not wrap up until lease made to ensure systems are working properly. eligibility is currently limited to health workers with vaccinations for those over 65 to begin in two weeks. a portion of the population is received one dose and the slow pace is under scrutiny as the tokyo olympics draw closer. global news 24 hours a day on air and at bloomberg quicktake. powered by more than 2700 journalists and anal

i'm vonnie quinn. this is bloomberg. rishaad: market action, a look at reaction to the data on chinese markets. from what i've been able to see so far, the shanghai comp has come back and is positive after being negative, the hen saying that hang seng getting a boost nearly .5%. we've got the asx in sydney turning positive and the nikkei, pretty much where it was. a .4% to the upside. other asset, looking at the dollar. oil is about $66 roles -- $66 a barrel wti. volatility surrounding the relief package, and that as we see expectations of growth picking up and these china numbers emphasize that. the yield on the 10 year, 6.126%. a few analysts saying there will not be much arrest for bond traders until we get a 2% handle. bitcoin, five point 7% up and managing to support itself above 60,000. getting figures out of china, looking at air traffic, february volume rising 187 percent year on year according to the civil aviation authority of china and that partly is down to what we saw last year, this time, when the country w

i am vonnie quinn. >> still ahead, the timeline to travel. don't miss our exclusive interview with this travel platform. we speak to john brown about vaccine passports later on this hour. rishaad: next, look for asian economies asking deutsche bank if rich banks could surpass pre-covid trends. stay with us. this is bloomberg. ♪ rishaad: the strength of the economic economy aided by the vaccine rollout is providing more information for investors. we will have chinese pmi numbers and the back of china jobs survey. president joe biden is planning on unveiling a further stimulus program. a lot to get through an ally for investors to chew on. give us a sense of what you are looking for in paticular. >> the message will reinforce the idea that we will see in a stream with strong economy in the u.s. china, korea and taiwan have been moderating. the virus hit this part of the world first and that is partly just the dynamics of the disease. but we were expecting this extremely strong fiscal stimulus in the u.s..

vonnie: that u.k.at with exports, and they will review exports severely and will probably reject them until the drugmaker fulfills obligations to the eu. the two sides accuse each other of nationalism. scientists tracing the origin of the pandemic believe they have identified a possible fourth, china's wildlife trade. the findings of experts convened by the chinese government and the buick show are expected to show parallels to the 2002 spotting of sars, the fast born coronavirus spread by civet cats. more studies are planned including some outside china. the tokyo olympics games will take place without overseas spectators, a decision announced by the organizing committee after a five party meeting saturday that included the ioc and the tokyo government. tickets purchased by foreigners will be refunded. the move is set to lead to millions of dollars of losses with 600,000 from overseas originally expected to attend. hsbc will reopen its main hong kong office after it was close last week in the wake of

now let's get the first word headlines with vonnie quinn. vonnie: the social media battle between facebook, google, and australia is heading to the u.s. lawmakers in washington plan to revise legislation to let news organizations work together to negotiate with platforms overpayment for news content. it has bipartisan support and comes after social media had to compensate australian news publishers for materials. russia says its decision to slow access to twitter is justified, as it has failed to comply with demands to delete some content. moscow says it will put the brakes on until twitter removes more than 3000 pieces of undesirable context. the kremlin also warns of a potential all-out ban if twitter fails to comply. twitter has been used by supporters of jailed kremlin critic alexei navalny. iran's offer of a gradual return to the 2015 nuclear court appears to have softened demand studied the u.s. -- the president says tehran is ready to recommit to the deal as long as washington does likewise. however, is offered drew swift criticism fr

i'm vonnie quinn.♪ haidi: turning to europe, the ecb president says her focus remains on ensuring long-term economic growth even as the vaccination rollout has fallen short of expectations. she spoke in an exclusive interview with bloomberg's francine lacqua on what the ecb can do to aid in the recovery. >> we have an economic situation overall which, in this part of the world, europe, is marred by uncertainty. in that general macro economic situation marred by uncertainty, monetary policy and the ecb have to provide as much certainty as possible. this is really the aim of the most recent monetary policy decisions we have taken, clearly, in the scope of our mandate, which is price stability. but in the very exceptional circumstances that we are encountering, providing a degree of certainty is the best we can do at the moment. francine: given lockdowns and what is going on with vaccines in europe, has the balance of risks shifted since the last policy meeting? christine: well, the balance of risk is sti

let's get to vonnie quinn. vonnie: u.k. government is planning a wide-ranging review of financial markets to defend the city of london post-brexit. the economic secretary told bloomberg changes to strategy will be followed by a consultation with the business on wider market reform. financial services account for 7% of the u.k. economy. myanmar's increasingly violent suppression of protest is drawing more international outrage. the u.n. is drawing -- he is condemning the action of security forces accused of killing 70 people. the u.s. is stepping up sanctions, targeting the children of the leader. washington says they have benefited from his malign influence. judges in thailand are delaying any redrafting of the constitution. the constitutional court says parliament can make changes only if voters decide and overhaul is needed. the decision as a blow to antigovernment protesters who have been demanding change for months. opec is downgrading its outlook for energy demand the next two quarters while maintaining a tight grip on

vonnie?al gdp from japan, the economy grew by double digits last year showing resilience despite the virus emergency measures. gdp rose annualized 11.7%, december from the prior quarter, a touch weaker than estimates, while economists had forcing growth of 12.6%. the brazilian real closed at its lowest after the former president was cleared in the carwash -- investigation, erasing decisions against him for bribery and property deals and other alleged crimes. he remains a darling of the poor but many say he is a symbol of brazil's economic mismanagement. protesters in myanmar the fight a curfew monday despite the military's increasingly tough response. the u.n. and u.s. called for security forces to free protesters date surrounded na young gone suburb -- in a yangon, with threats of gel terms of 20 years shutting down media and denying the right to work. -- jail terms. thailand, has seen weeks of antigovernment protests in demand for change. demonstrators call for transparency around the monar

let's get to vonnie quinn. vonnie: the u.s., u.k. european union in sanctioning china over alleged human rights abuses of uighurs in china. the u.s. said -- the move drew an immediate response from beijing who said it will impose restrictions on 10 individuals and four entities on the european side. australian prime minister scott morrison said a staff member involved in what he calls disgusting and sickening behavior has been sacked. it follows allegations that a group of male staffers had shared images of sex acts. more than 18,000 people in new south wales have been ordered to evacuate amid severe flooding across the state. the premier says another 15,000 could be ordered to evacuate tuesday. emergency responders have been making rescues to the tune of 850. anka of america has been sounding the alarm over a surge in energy use. it says the power accounts for a 4% of global energy consumption. that is comparable to many developed countries. emissions from bitcoin mining have grown alongside a spike in its price, rising more than 40

let's get over to vonnie quinn. vonnie: speaking of little progress, the massive container ship locking the suez canal remains firmly stuck for a third day as efforts continue to reflow it. it has forced cargo ship ships to weigh time-consuming trips around africa, threatening to destabilize global trade. analysts say delays to the global supply chain could translate to higher costs for consumers. the u.s. is blacklisting the two largest businesses that the myanmar military controls. sanctions against the two companies led by military officials include sweeping their u.s. -- includes freezing their u.s. assets. a coup on february 1 overthrew the civilian elected government. federal reserve says banks will be allowed to raise their dividends after june 30. restrictions on stock buybacks will be lifted for linger -- for lenders that perform well. three current and former board members of taiwan's central bank wanted overhaul of the central policy. they say efforts to hold back the dollar depreciation has caused long-t

i am vonnie quinn. this is bloomberg. haslinda: still ahead on bloomberg markets: asia, we are looking ahead to the boj decision shortly and we will review a big week of central bank policy with the head of asia economics at oxford economics. rishaad: breaking news, russia's covid vaccine has gotten the fda's approval for use in we are talking about the sputnik vaccine. we will look after the treasury yield spiked, and after the break we will talk to andrew freris. this is bloomberg. ♪ ♪ haslinda: welcome back. treasury yields reach key levels. the federal reserve will allow inflation to overshoot. the benchmark 10-year note climbed as much as 11 basis points to 1.75%. that is the highest in the january 2020. let's bring in andrew freris, and joins us from hong kong. good to have you with us. this is a bond markets coming to terms with inflation, overshooting, how real is inflation overshooting to you? andrew: it is not to because we are looking at two kinds of inflation. we are looking at the cpi inflation which in the u

what's get the first word news with vonnie quinn. vonnie?e government says it is determined to go ahead with the limbic games, despite concerns over the arrival of local fans. international travel began -- means difficult at best. local olympic committee say athletes deserve a chance to deliver a once-in-a-lifetime performance. >> [speaking foreign language] i believe the japanese people will feel more confident in hosting the games if we are able to show concrete plans within the next one month or so. the reason why we have not been able to present our plans yet is of course because no one is sure how this situation with the pandemic will develop in a few months time. >> opec is downgrading its outlook ford energy demand over the next two quarters while maintaining a tight grip on crude supply. they are trimming by an estimate of almost 700,000 barrels per day. rival supplies threaten its position. opec says the pandemic continues to drag activity and current production will remain in place. australia said to be considering co-funding a bil

i'm vonnie quinn. fatal shooting's at three asian-owned businesses in atlanta have put the issue of violence against asian americans in the spotlight and saw and causing banks to take a stand. bloomberg's su keenan it is here with the state from the white house, saying former president trump is partly to blame. su: the white house commented on the killing at three atlanta massage parlors. the president's spokesperson, putting some blame on former president trump read let's listen. >> i think there is no question that some of the damage and rhetoric that we saw, during the prior administration, calling covid wuhan virus or other things that lead to perceptions of the asian-american community that are on accurate, -- that are in accurate, unfair, has elevated threats against asian americans. su: president biden was briefed overnight about the shootings and earlier said u.s. investigators had not yet determined if the incident in atlanta against asian americans was a hate crime, but he called the incident

i am vonnie quinn. this is bloomberg. kathleen: up next, president biden is nearing a first legislative victory with his $1.9 trillion relief bill. it will be the second largest aid package in u.s. history. the mining sectors having the lowest proportion of female managers and workers among all industries. one of the most powerful voices in the space tells us what can be done, to change this. we will speak to the fortescue group ceo elizabeth gaines, later this hour. haidi: and plenty more big interviews i had on international women's day. from twitter, fidelity, and others with us over the course of the next few hours. this is bloomberg. ♪ when you switch to xfinity mobile, you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $300 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience. you can shop the latest pho

i'm vonnie quinn. this is bloomberg. haslinda: still ahead, credit suisse's telecoms varun joins me from the conference to discuss opportunities and challenges in the digital economy. rishaad: next, rupal joining us to talk about what they are making of what happens next with asian markets. that and more. this is bloomberg. ♪ this is bloomberg. ♪ rishaad: a mixed bag with asian equities at the moment bifurcated if you like. it is japan against the rest of the region. nikkei 225 down by a whopping 1.8%. in hong kong we have gains of .8%. the shanghai market also buoyed up likely elsewhere we are seeing the same thing. let's look at what rupal is making of it. what's your take as to where we are at the moment with regards to bonds versus equities and emerging-market's versus developed ones? rupal: i think according to us, we do believe equities should continue to move up higher and we should see positive equities at year-end. we can expect some volatility in the short-term. my sense is it should be much more risky. it is n

i'm vonnie quinn. this is bloomberg. haidi: next, australia's job keeper program is put to bed, bring in the nation's largest covid stimulus measure to a close. up to 150,000 more jobs though could be lost. plus, tensions flare. corporate fallout also continues to mount. this is bloomberg. ♪ is bloomberg. ♪ shery: a geopolitical tussle over allegations of china's human rights abuses have continued, with beijing imposing sanctions on individuals in the u.s. and canada. the corporate fall has also spread. for more, let's bring in tom mackenzie in beijing. so what is the tally so far, and how has that impacted business? tom: we saw the action from china from beijing on saturday, targeting a canadian lawmaker and a number of entities there, including a parliamentary committee on human rights. they also sanctioned basing as the u.s. commission on international religious freedom. this after china imposed penalties on the european lawmakers and bodies there, as well as u.k. lawmakers including the former head of the opposition,

let's get to vonnie quinn. vonnie: china is -- china's holdings of u.s. treasuries rose $23 billion in january. that is the most since october of 2019. japan remains the largest holder. total foreign held u.s. debt globally surpassed a $7 trillion. that is the second highest total on record. the chinese government is said to have asked alibaba to sell media holdings including the south china morning post. authorities are concerned about the growing influence over public opinion in china. officials i said to be upset about the company's cloud on social media. alibaba has built up a rolling profile. u.s. secretary of state antony blinken and defense secretary lloyd will meet with japanese counterparts tuesday as the biden administration works to revitalize relations with key allies in asia. blinken and austin will head to korea for talks later under the weight. president biden's administration has reached out to north korea's government. he has not received a response. it is unclear which committee case and channel was used and kim jong-un is no not to resp

vonnie: the u.s.ting four more entities and imposing new export controls in response to the military coup and escalating violence against people protesters. the congress department blacklist advised the ministry of defense and home affairs. two groups that they say is responsible for the coup. . the united nations said it killed 38 protesters wednesday. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. shery: let's head back to the national people's congress and discuss what this means for the equity markets. for broader economic outlook for china, christy tan's head of asia market strategy and research. she joins us again. thank you so much for hanging around. let's discuss what the priorities set at the mpc could mean for investors. because we do have a renewed focus on renewables, energy goals, financial reforms. how do you invest in these themes? christy: i think a large par

i'm vonnie. this is bloomberg.ner ship blocking the suez canal may take weeks to free. that is according to the company working to unblock the waterway. it is a situation that has highlighted the fragility of global supply chains. for more analysis, let's bring in the global head of analytics of ihs markets. if this takes weeks to resolve, what will be the impact of global trade -- impact on global trade flows? >> i can say this is a real event. it is a well oiled machine. we see it highly unlikely the blockage will extend for weeks. best case is for her to be resolved within the next few days. everyone is talking about monday with a high tide. we would expect the shipowners to wait and see more. the widespread divergence is highly unlikely. while we are hearing right now are two container vessels, which are already diverting not much beyond that. the current situation is chaotic but as you say, if it goes into weeks, it would turn catastrophic. the blockage in our view should be resolved by early next week. if you

i am vonnie quinn. this is bloomberg.nda: taking a look at markets, asia tracking the gains in the u.s., which reached fresh record highs, investors back two optimistic about economic recoveries. focus on the fed, on wednesday we might see fresh projections. china recovering some losses from past sessions but headed for the worst month since january 2016. looking at the bond market, it is interesting to note that chinese holdings in u.s. treasuries rose to the highest levels since 2019, among almost $23 billion. china bonds looking like this. bitcoin currently down by almost 4%. 54,000. a phenomenon can't quite be explained, but the dollar has dropped. alibaba currently up by 2/10 of 1%. china wants alibaba to sell some media assets. another company has a new ev battery plant. xiaomi currently up almost 6%. well, now let's get to our chief north asia correspondent, stephen engle is standing by with a look at hong kong's future. stephen: thank you, i want to bring in our exclusive guest, charles wong. good to see you and t

let's get over to vonnie quinn. vonnie: the european union and united kingdom are working on a win-win situation. the joint statement came as the u.s. tightened curbs on exports. the u.s. government is under pressure as spikes leg -- and vaccinations lag. angela merkel made a rare public apology after she was forced to abandon a widely criticized five-day hard lockdown over east europe. this was after a hastily arranged video conference. the withdrawal means germany remains under restrictions that were gradually loosened earlier. >> the idea of an easter lockdown was a mistake. in such a short time, it was not possible to implement well enough. >> the latest private surveys have found that the services sector only improved marginally in the first quarter. that is despite abroad rebound, indicating consumptions remain week. the growth shows there is still reason to be cautious on china's recovery. more than 3100 firms were surveyed between january and march. the heads of facebook, google and twitter have outlined dif

i am vonnie quinn.his is bloomberg. shery: still ahead, president biden says that they will help boost production of johnson & johnson's coronavirus vaccine. we will assess the challenges to the vaccine rollout with dr. jessica from columbia university later this hour. plus, an interview with finance minister in chile on how their successful vaccination campaign has helped their growth outlook. this is bloomberg. ♪ when you switch to xfinity mobile, you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $300 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience. you can shop the latest phones, bring your own device, or trade in for extra savings. stop in or book an appointment to shop safely with peace of mind at your local xfinity store. ♪ >> president joe biden says merck will help its rival johnson & johnson and

i'm vonnie quinn. this is bloomberg. haidi: still ahead, policymakers will need to maintain for longer to keep the economy back on track. he joins us later this hour. coming up next, traffic has been reopened in the suez canal. we have the details of the rescue next. this is bloomberg. ♪ >> it will be a little bit earlier than what we expected. and she -- it seemed the ship had been stuck and indeed they have been able to move it. it is too early to see when the canal will be cleared. it is one thing to reform the shipments. >> it will take some time for it to balance out. that will affect rates. we have had essentially a week of no trades through the suez. that is adding a week or so onto the journey. this ripple through the supply chain, we will file for some time to come. shery: some of our guests commenting on the fallout from the suez canal blockage. ships and started moving after it was freed following a weeklong operation. it might take another week or more to clear the queue of ships in the waterway. how many ves

i am vonnie quinn. this is bloomberg. haslinda: still ahead on bloomberg markets: asia, dual decline. to 2020 saw a sharp decline in fundraising, but dry powder continues to fill in the reason. rishaad: we also have our coverage in the asian convention conference continuing with another great guest on the way. this is bloomberg. ♪ ♪ haslinda: asian investment conference enters its final day and we are bringing you exclusive coverage and the event brings together global, political, economic, financial leaders as well as institutional investors. let's cross over to sophie kamaruddin in hong kong. sophie: the asian investment conference primarily virtual, but we had the chance to sit down face-to-face with many guests here at the credit offices, and it is timely that we wrap up our coverage of the aic with our guests. thank you for joining us. we went into 2021 with this preference for north asian markets, stay-at-home plays and that has shifted given the -- the sector rotation. you are saying that this could be a time to go

haidi: let's get to vonnie quinn. vonnie: 19% of all u.s.lts will be eligible to get a covid-19 vaccine. he added that his administration will double the number of pharmacies where shots can be administered as it ramps up the pace of inoculations. but he warned against a resurgence of cases. prime minister boris johnson says the u.k. is on track to lift pandemic restrictions entirely by late june. he is cautiously optimistic there will not be a need to impose lockdown measures again, adding that the infection rates are at the lowest in six months. but johnson warned about becoming too complacent. japan's vaccine chief says the country's rollout will be slow and won't ramp up until at least may. they want to major their systems are working properly. it is currently limited to health workers and those over 65 to begin in about two weeks. the slow vaccination pace is under increasing scrutiny as the tokyo olympics draws closer. steps to further reopen an economy, dropping to 14 day quarantine from 21 for people coming from high-risk areas. disc

vonnie: this is daybreak: asia.dent biden's relief bill is a step closer, carrying its final congressional approval and heading back to the white house for approval. the vote comes two months after he first announced his american rescue plan. it is expected the bill will be signed on friday. biden is seeing resistance to his next economic program. china's most important political party has wound up this year's meeting having discussed goals for the next year. events in beijing cell leaders target growth of 6% and plans to shakeup the electoral system in hong kong. the conference has no legislative powers but offers proposals to the ceremonial parliament. the nuclear accord appears to soften previous demands the u.s. must lift all sanctions. president romney says tehran is ready to recommit to the deal as long as washington does likewise. his offer drew swift criticism from iranian state media. just to prove italy does not have a monopoly on dramatic eruptions, -- the volcano burst into life north of korea and japan.

i am vonnie quinn. this is bloomberg. haidi: still ahead, more key eco-data is due in a few hours showing activity in january and february. we'll take a look at how the chinese economy is doing. coming up next, not smoking the market just yet. this is bloomberg. ♪ shery: washing the jump in bond yields. ahead of key federal reserve meetings this week. those rising yields is even to preoccupy investors because of the prospect of rising inflation. let's look at what to expect. sandy, great to have you with us. a time when we thought there was some calm back in the bond market and then we have this going on again, despite the fact we had a relatively smooth bond sales last week. what happens next in terms of how you are allocating your portfolio? >> as rates went down in 2020, we reduced bonds to about half their position. we did not want to get rid of them completely. they are helpful from a volatility dampening perspective. it is dry powder if we see shakiness in the equity market. we reduced fixed income. we are not expec

vonnie: this will take a few more days to see all of this play out.y may feel total losses in the range of five or $10 million. -- billion. it also expects to see full closures from other lenders by the end of this week. jp morgan previously estimated losses of two or $5 billion. germany will only recommend the astrazeneca vaccine to people 60 years of age and over. it has worse side effects occurring in only younger recipients. this is another blow to vaccines after a surge in cases. china has finalized plans to ensure it can uphold the outcome of hong kong's legacy elections. requiring future candidates to be vetted by a national security committee. hong kong will hold its own elections in december. the chief executive tells bloomberg the new system will help the government focus on key issues. >> political problems in hong kong, that led to decades of their high and still rising prices. >> also, a 65-year-old asian woman beaten in an anti-asian hate crime. there is still an investigation into the attack. the biden administration and justice departm

i am vonnie quinn. this is bloomberg.ng kong planning to hold postponed legislative council elections in december, to account for electoral changes introduced by china. this according to the seeing child jelly citing unidentified --t jelly citing unidentified peoplesing dao. >> let's talk about, the justice secretary of hong kong. thank you, secretary, for having us, i get. a joint statement coming from both sides of the isle and both houses of congress in the united states again urging president biden to take tougher steps to protect certain freedoms that the united states might feel are lacking in hong kong, because of this new change to the electoral process. what would be your immediate response to the prospect of tougher action from the united states on hong kong? >> well i repeat the point i have previously made, about the u.s. statements, about hong kong. that hong kong is a free and open society. i think that is a very important factor to bear in mind. after the passing of the national security law, the society ha

let's turn to vonnie quinn.e: france and italy say they will resume using the astros and echo vaccine as the european medicine agency advises it is safe. the regulator is reviewing data ahead of thursday. the ema has repeatedly said the benefits of the shot outweigh the risks. e.u. countries have warned that the slow pace of vaccinations could prolong restrictions on activity. hsbc is closing its main office in hong kong after three people tested positive for covid. according to an internal memo, -- to undergo mandatory tests. the closure mean staff and customers will have no access to the biggest branch in the city. hong kong says it will extend virus related social distancing measures until march 31. a ranking american general says russia remains the top threat to the u.s. even as the tension turns to china. the north american chief told the senate that russian leaders continue to assert their dominance through deception, economic coercion and the threat of military force. while the rivalry has intensified, he

i'm vonnie quinn. this is bloomberg. shery: still ahead, we hear from the ceo of the 100 x group which a -- it's hitting the equivalent of a trillion dollars in the past year. up next, johnson & johnson sees vaccine supply constraints easing in the u.s. but the world health organization warns governments not to rely on vaccines alone. this is bloomberg. ♪ shery: the head of jp morgan says it would be hard to make the covid-19 vaccination mandatory, but hopes workers will take it. jamie dimon says work from home measures were not sustainable for all employees and wants to see a return to the office. he also says the u.s. economy is at risk of overheating. jamie: getting through covid is critical. it looks like there's light at the end of the tunnel but by the beginning of the summer, but it is not a binary subject. democrats and republicans are like ships passing in the night. there are legitimate complaints about stuff in this bill it has nothing to do with covid. and there are people suffering that need help and both ar

i'm vonnie quinn. this is bloomberg. haslinda: asian markets are pretty steady despite the losses on wall street overnight. let's get insight. jim mccaffery joins us this morning. jim, good to have you with us. the reflation trade is still front and center. how much more upside -- how much more room to go? jim: quite a bit, simply because markets have dropped quite a bit in this region over the last two or three trading days. if you look at the data and performance year-to-date, taking into account the month of january, february, and a couple days of march, you see markets in the region up 3% or 4%. all the excitement last week has dissipated because of the corruption over the last two days. so quite a bit more upside we think. haslinda: there are some concerns, chinese regulators saying bubbles are forming, especially overseas. saying some of the assets are overblown, valuations are really overstretched. they are concerned. what kind of path, what kind of trajectory can we expect? jim: it comes to the

i'm vonnie quinn. this is bloomberg. shery: i would like to welcome in our radio listeners to daybreak australia. after the e-commerce pioneer thoughts best day in years, in e adr has follow those gains. a $2.2 million stake scale could fund expansion, and finance mobile markets. they give for your time today, great to see you. at least when it comes to your e-commerce business, what prompted you to raise capital now? >> well, we started our mobile service last april. based on something no one has ever done. shery: you have called mobile your keystone of your ecosystem, is that were all of the capital is going? >> well, obviously, we need to do that on our nationwide network. as you know, we had the world's first nationwide network platform. so, the money will go to network buildout and mobile development. as well as building logistics. shery: obviously, when it comes to building it takes a lot of investments but at the same time, your losses tripled in the last fiscal year. do you have a plan for when you plan to breake

i'm vonnie quinn. this is bloomberg. haidi: hit talk she is buying global logic in one of the japanese conglomerate's largest acquisitions ever. we will be speaking to the executive later this hour, but first, david ellison is with us to discuss the biden stimulus plan. this is bloomberg. ♪ >> building back better was the central theme of joe biden's presidential campaign. it is what the country needs. this is all very much on the right track. i'm particularly excited about the infrastructure and investment program, particularly excited about bringing that aspect. haidi: former u.s. treasury secretary larry summers there on president biden's infrastructure plan. dallas fed president robert kaplan says there will likely be trade-offs for president biden's stimulus plan, but it will be worth it for the economy. he spoke exclusively to bloomberg. >> the important thing i look at on infrastructure -- we have had a lot of fiscal spending, which has been necessary to emerge from the pandemic, but a lot of that will fund curren

i'm vonnie quinn.his is bloomberg. shery: intel shares are surging and post-market trade after the company revealed an ambitious plan to regain its manufacturing lead. the chipmaker is earmarking when he billion dollars to build new factories and trade a business that will make chips for other countries -- other companies. the strategy puts intel in direct competition with the world's most advanced chipmaker factors. ed ludlow has more, this is quite a u-turn from abandoning in-house manufacturing altogether. ed: on the idea of outsourcing to manufacturing, wall street expected a move where intel would outsource more than it currently does. but it is doubling down on domestic production. those two new plants in arizona are going to be adjacent to its facility. it is going to see the company manufacture chips for other companies. what people do not understand, we look at all of the chip stocks that we talk about, many of those companies just design and license the design of semiconductors. they outsourc

i'm vonnie quinn. this is bloomberg.aidi: the turkish lira is plunging, its first reaction to the president's decision to outs to the third central bank chief in two years. the early drop erased more than four months of gains. now, in terms of the new governor, he pledged on sunday to deliver permanent flexibility and long-term policy. let's get more from emily. it is a big -- it is a bit of a rotating door situation, not an enviable job to have. what is the situation with emerging markets now? emily: this is a clear blow to the central bank's credibility. l bank governor in less than two years. it is more in line with the president's policies, the question now is about contagion. u.s. bond years -- u.s. bond yields rising under market pressure. shery: we have seen the lira start again despite the fact that we have in the u.s. yields rising, the bloomberg showing that we have more than 800 or 900, that led to lira appreciation. we have investors more confident that we would see more orthodox policies. what happens next?

let's get you to vonnie quinn with the first word headlines. vonnie: sources say the biden administration is considering as much as $3 trillion in measures for the next stimulus bill. that may include up to $400 million for green spending with infrastructure and climate change two of the key pillars in the massive follow-up to the pandemic bill earlier this month. the proposal is expected to be presented to president joe biden this week. fed chairman jerome powell says the u.s. economy is still far from a full recovery but seems to be gathering steam. he told the house financial services committee millions of americans are still hurting. treasury secretary janet yellen will also face the committee this week. the ecb has finally delivered on its promise to increase bond buying to combat yields. policymakers vowed to significantly increase buying earlier this month amid the selloff but data has shown little pickup until now. we will get the redemption figures later tuesday. new zealand has announced measures to increase housing supply in a bid to

i am vonnie quinn. this is bloomberg. >> coming up on "daybreak asia," we take a look ahead at a busy week in american diplomacy. the highest level in person talks with china plus visits to south korea and japan. our guest joins us to discuss geopolitics this hour. we will be speaking to a coo and chief investment strategist for her top picks in the market today. plus the biden administration pumping money into the pandemic relief and the economy. this is bloomberg. ♪ shery: the federal reserve and the bank of japan meet this week. they boosted bond purchases last week. our global economics and policy editor, kathleen hays, is here with a preview. we have concerns about inflation , rising yields, so what are we expecting from the fed? >> they are meeting against a changed backdrop from the last meeting. viruses are coming down in the united states. gdp growth forecast for the year up to about 7% in some cases. inflation expected to start accelerating. top 2%, even if it is temporary, that is what is on