vonnie: the u.s.sconsin, several people were killed when an suv drove into a christmas parade. more than 20 people were injured when the vehicle broke through barriers. police say a person of interest is in custody and investigations continue. nationwide virus lockdown in austria goes into effect monday. protests in several european countries over covid restrictions. tens of thousands rally peacefully in vienna as the government announced all austrian adults must be vaccinated by monday. dutch police arrested dozens after clashes there. the economy is said to expand as much as 1.2% this year exceeding an earlier forecast of 1%. thailand began reopening this month to vaccinated visitors. more than half the nation's fully inoculated. last week's average daily infection rate went to 6.5 thousand. no decision has been made yet. the chief cabinet secretary says the country's reserves hold enough oil for 242 days. over the weekend, a newspaper reported japan and the u.s. could make an announcement as soon a

i am vonnie quinn. this is bloomberg. sherry: vonnie, thank you. still ahead, of a gust to us about the difficulty of finding alpha the public market, space and how the pandemic has underlined the importance of diversification. and up next, a rate hike by the back of korea in the coming hours is unlikely to be a surprise. we will discuss that with dalton investments' james lim. this is bloomberg. ♪ sherry: a hike by the bank of korea in the next hour will come as little surprise, but the path ahead for the south korean economy will be more interesting and more uncertain. for some analysis of south korea and the wider asian markets, it's bring in dalton investments' senior research analyst james lim. despite the hawkish stance from the bank of korea, you are still positive on the markets there. why? james: mainly because the export momentum hasn't really slowed down significantly. i think it is still staying strong. the valuation has come off quite nicely. so we are actually seeing a very strong earnings growth with less limiting multiples in some o

i am vonnie quinn. this is bloomberg. haidi: still ahead. our guest will join us to discuss houtz sustainability leader counsel would advance the climate change agenda in asia. coming up next, we discussed how advances impacting them get the broader outlook as well. this is bloomberg. ♪ shery: markets closed at a record high. we had strong corporate earnings outweighing disappointing eco-data. our next guest says excess liquidity should feel like there rally in the u.s.. let us bring in this ceo and chief investment strategist at er shares. always great having you with us. let us get you started with this chart on the bloomberg. it shows how we continue to see these record margin expansions despite the fact that we have these supply chain disruptions. going into the year end, do you expect bottlenecks to ease and will that help the rally? how fragile could it get? we see these input costs rising. guest: the disruptions are here tuesday. for the foreseeable future. they might come down a little bit but t

i am vonnie quinn. this is bloomberg. haidi: ahead, we hear from the y lg bully on an future ceo -- gold and bully on -- bullion -- y lg bullion future ceo. haidi: the bank of korea and the reserve bank of new zealand certain to raise interest rates again. let's bring in kateri not. -- katrina. look at where the policy right stands now and what the market is preparing for going into the end of 2021. the market price is at 1.5 hikes. is there a strong reason for them to go harder? katrina: there is a bank of new zealand hike. there were .75% -- 0.75%. given the economic environment we are living in due to covid, i think it is prudent to go with 25 basis points or higher. they want to take the parsed -- path of least regret. that is taking a more cautious approach to monetary tightening giving -- given the economic environment. haidi: when it comes to korea, it looks like according to the latest analysis that it may finish its hiking cycle by the time others are getting ready to start. look at this chart. they might be ahea

get over to vonnie quinn. vonnie: good morning. the by the administration has mandated covid vaccines for all staff at u.s. companies with 100 or more employees. workers must be fully vaccinated by january 4 or submit to weekly testing. employers that don't enforce the rule or deliberately ignore it say fine. a london court has allowed malaysia to continue its pursuit against abu dhabi's fund. malaysia's government challenges the arbitration settlement. the london case is one of a series of legal and regulatory investigations around the world linked to one -- 1mdb. >> two companies withdrew plans for etf's. it seems regulators are not yet ready to greenlight more complex derivative based cryptocurrency funds. >> i have urged us to rethink exchange traded products. i don't know whether that will change, but i -- my guess is that given the chair has signaled that he likes to see these products trade in regulated markets, that may be something that is standing in the way of approval. vonnie: the new york city mayor elect said he would

let's turn to vonnie quinn for the first word headlines. vonnie: the u.s. 50 million barrels of crude oil from its strategic reserves in concert with china, south korea, japan, and united kingdom. it is to coordinated attempt by the world's largest oil consumers to tank prices. it comes after weeks of lobbying from president biden. opec-plus nations warned in response they could cancel plans to boost their own oil output when the cartel meets next week. pres. biden: today i am announcing the largest ever release from the u.s. strategic petroleum reserve to help provide the supply we need as we recover from this pandemic. in addition, i brought together other nations to contribute to the solution, india, japan, the republic of korea, the united kingdom agreed to release additional oil from their reserves. china may do more as well. vonnie: jp morgan ceo jamie dimon says his bank is likely to last china -- to outlast china's communist party. he reiterated his commitment to the country. he said the business community should have taken issues related to china m

i am vonnie quinn.s is bloomberg. >> democrats received a harsh warning about their hopes for keeping control of congress in 2022. voters in virginia, new jersey, and across the country flocked to republican candidates, less than a year after joe biden took office. joining us for the latest is our reporter. perhaps a sigh of relief with governor phil murphy getting reelected in new jersey? >> free democrats, yes. -- free democrats, yes. new jersey is a state that president biden won 16 points, and for the race to be that close is concerning for democrats. in virginia, biden won by 20 points in 2020 now glenn young kin sophie: -- won it. democrats say they have a lot of soul-searching to do. they say they need to make sure they pass the two key pieces of president biden's agenda, the bipartisan infrastructure bill, roads, bridges, traditional infrastructure, and the crucial welfare and tax package, like childcare, eldercare, health-care, employment change. democrats have been working on these bills for m

in vonnie quinn. this is bloomberg -- i'm vonnie quinn. this is bloomberg.: still ahead, more countries report cases of the omicron variant. the latest on the global response next. this is bloomberg. ♪ >> it is not to the same level of downside we have seen. there have been restrictions introduced. what will happen is it will take some three or four or five days. >> i think investors should count to 10 before moving again. >> in the new term, a resurgence would be larger than the reflationary ones. >> if there is going to be a repeat of the winter lockdowns or lack of ability, it would be a surprise if central banks continued on course. more likely, they will delay pace of the start of their tightening process. shery: some of our guests weighing in on the omicron impact appeared more asian governments tightening their border controls as the new variant spreads further around the world. let's bring in our chief north asian correspondent. to the latest measures we are seeing out of asia? -- what are the latest measures we are seeing out of asia? dark as we get

in the meantime, vonnie quinn is in new york and she has your first word news. vonnie: u.s. interference in its internal affairs with legislation and sanctions has disrupted normal exchanges between the two nations. they were speaking in a meeting with antony blinken. they offered to establish regular contacts with antony blinken and pursue a true one china policy with taiwan. leaders of the 20 nations agreed on a climate goal but falls short of what they were approaching four. their final communique offers little in concrete action and just pledges made in 2015 the first accord. the key speaking point was cold. some wanted to and its use but they can only agree to phase out new investments. china will release their reserves of diesel and gasoline in an effort to ease the energy crunch that is threatening economic growth. these reserves did not say how much of the fuel would be released to boost domestic supply. or did it provide a schedule p or china has been long accused of selling stations after they restricted diesel sales. shanghai disneyland will close on monday after

let's get to vonnie quinn. vonnie: the u.s. secretary of state antony blinken says allied nations are prepared to react if janet uses force against taiwan. it is unclear whether a buying lead response would involve the military. speaking in a new york times conference someone added they do not want an interruption to the status quo. chinese president xi jinping is set to deliver the first resolution on communist party history, giving them the mandate to rule for life. the party wrapped up a four day meeting. only two others have altered historic resolutions and both used their works to dominate party politics until they died. the european union is said to put on a temporary waiver letting has so many managers to play trade in the united kingdom. europe has been pushing for more financial activity to move into the bloc. officials decided the existing timeframe was too short. the length of the proposed extension is still unclear by that is expected to be revealed early 2022. wall street is warning of major job cuts ahead. almost

let's get to vonnie quinn. vonnie: we do know there is going to be a virtual meeting next week. sources say president biden and xi jinping are scheduled to hold one next week. it comes as the two nations spar over taiwan and alarm grows in washington over beijing's expanding nuclear arsenal. we are told the session will not address the issues -- a group is likely to further inflame tensions over the status of the self-governing island of taiwan to the government confirmed the delegation arrived via military aircraft. bloomberg has learned a court in myanmar will deliver a verdict against a detained civilian leader. it will be the first ruling on charges leveled against her in the aftermath of a belt -- of a military coup. she was detained as the armed forces seized control of the government. 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. rishaad: tencent earnings preview. sales of china's regulatory crackdown clouds in the tech giant. yvonne: a look

let's get to vonnie quinn with the first word headlines. vonnie: the u.s. department has issued a level four travel warning to germany advising america to avoid traveling. germany grapples with its worst surge of kobe cases so far. angela merkel says the nation's hospitals could soon be overwhelmed and is calling for tighter restrictions with vaccination rates remaining so -- remaining below 70%. >> probably by the end of winter, almost everyone in germany, it might be cynical to say, why there be vaccinated, cured or dead. that really is the case. this is very possible with the extremely infectious delta variant. vonnie: america's latest covid-19 wave is taking its toll on some states and tense of care units. some parts of the country seeing outbreaks as bad as ever. government data shows any 15 states, patients with confirmed or suspended cases are taking up more icu beds than a year earlier. colorado, minnesota and michigan have more than a third of icu beds occupied by covid patients. china has warned it will punish businesses and political boehner -- p

over to new york as we get to vonnie quinn who has the first word news. vonnie: good morning. with respect to the enormous story, is social media followers voted that he should sell 10% of his stake in the electronic carmaker worth 21 billion dollars. about 58% of 3.5 million twitter users say they saw what the move. the world's richest person proposed it in netsuite, citing recent discussions about the ultra-wealthy hoarding gains to avoid paying taxes. this company says it has responded to the u.s. request for information. the commerce department had asked cheap companies to fill out questionnaires by november 8 -- chip companies to fill out questionnaires by november 8. south korea said it will provide data after negotiations on the extent of information to be submitted. flights from european hubs to the u.s. resume monday, reviving some of the world's most lucrative routes for airlines. before the pandemic, british airways regenerated $1 billion of revenue each year linking london's heathrow and jfk with new york. flights effectively will be limited to the fully vaccinated

here's vonnie quinn.nie: samsung electronics reportedly building a $17 billion chip making plant in the city of taylor, texas. there are unindent five sources saying confirmation should come soon. governor greg abbott is set to make an announcement tuesday at 5:00 p.m. local time. the facility should create about 1800 jobs with chip output expected to start at the end of 2024. china is said to be tightening approvals after rapid expansion in trading. recently they closed a soft track of channels. it also rejected applications that use token amounts to launch two offerings. . chinese fund assets have soared almost fivefold in the past two years to over $220 billion. . the u.s. says trade with china -- the u.s. says trade with india is falling short of significant potential. washington's envoy made the comment on her first visit to india as the two countries seeing -- seek to reach trade talks before president biden reached office. talks will focus on growing trade in digital economies, services, health and

let's get to first word news with vonnie quinn in new york. vonnie: good morning. china announced efforts to phase out coal. china is struggling to meet its power needs and is now ramping up whole -- cold -- coal to record levels. bloomberg has been told top white house officials do not believe that fed chair jay powell's sale of shares in a stock index last year disqualify him for a second term. he sold stock worth between $1 million and $5 million last october. some within the administration still have concerns about that trade. mexico's central bank has raised interest rates by a quarter-point for a fourth consecutive meeting. policymakers are sticking to a steady adjustment space even at -- steady adjustment pace even as inflation accelerates. a chinese developer has reported -- reportedly told investors it may miss interest payment deadlines. the company had a $15.5 million coupon do thursday and a near $30 million one due friday. it reports that kaisa is still sorting through the matter and that nothing is set in stone yet. i'm vonnie quinn. this is bloomberg

vonnie: 10:29, new york. i'm vonnie quinn.ion is different from any other advanced economies with consumer price gains in the picture. the ministers at the central bank's november meeting sages disabuse universe to the inflation forecast have widened. and how wages responded to very low unemployment. twoo forme -- two former fed president says that they will have to change their rate to 3% to keep inflation in check. they tell bloomberg it is possible the fed funds rate will go as high as 4%. former new york fed chief said markets are underestimating the pace and scope of hikes. think of england governor andrew bailey has hit back at critics accusing them of misleading markets before this month's rate decision. he told lawmakers on the treasury committee that investors took a conditional statement on the direction of interest rates and turn them into unconditional views of the world. the boe has rates unchanged at its november 4th meeting. it is said to have missed bond payments. the developer had coupon payments worth about $

i'm vonnie quinn. this is bloomberg.shery: still ahead, softbank announces a big buyback after record loss at its vision fund. we get reaction from atul goyal. next, broader market moves with christopher smart, as investors anticipate the inflations report in the u.s. this is bloomberg. ♪ . this is bloomberg. ♪ haidi: take a look at crypto assets. shery: bitcoin hitting a record high and surpassing the mid-october high we saw, $66 ,539. above that $65,000 level. this coming at a time where we see the crypto industry hit $3 trillion in value. this, as we hear more warnings across the board, including from the fed's financial stability report, that perhaps this industry could pose emerging threats, especially in the form of stable coins. but the rally continues. the bloomberg crypto index, around levels that could reverse all of its losses from the may to july correction, and above that $3700 level as well. of course the rally in crypto assets coming with broader u.s. market rally as well. this of course thanks to a series

let's get it to vonnie quinn in new york. says his country's economy faces new downward pressure and must cut taxes and fees. state tv reported these comments during a visitto china's top. market regulator he also says the economy needs cyclical adjustments, a phrase associate with a more fiscal monetary approach. the billionaire founder of bytedance is reportedly resigning as chairman. zhang had already stepped down as chief executive officer in may. bloomberg learns the new ceo will replace zhang on the five-member company board. a source tells us zhang will still be involved in formulating longer-term strategy at the chinese tech firm. bytedance and tiktok declined to comment. the u.s. cdc ok'd pfizer shots for children age five to 11. the agency supported the decision unanimously for it was signed off on by the director. the decision widens access to vaccines to some 28 million people. pfizer is working with regulators on the distribution of these pediatric doses. they can only be sent in smaller packs. swiss prosecutors

let's get to it vonnie quinn.e: attorneys man says his company faces downward pressures and must curb taxes. this will address problems faced by small and medium companies. during a visit to china's top market regular, he said the company needs to curb cyclical adjustments. there is are seated with a more conservative fiscal and monetary approach. advisors to the u.s. and cdc pfizer shot -- to the u.s. cdc it back to be pfizer shot for children ages five to 11. they only need 10 vials incentive -- the cdc director must sign off before vaccinations begin. the biggest class of new managing directors ever. six under 43 members nominated, a 40% increase from two years ago. goldman says part of the reason for the jump is an increase in headcount at the firm. women account for fewer than one in three of promotions and that is roughly in line with recent levels. black and hispanic employees each make up 5% of the incoming class. prosecutors have indicted the former -- and his heir apparent. he owes $2.2 million eight yea

haidi: let's get you to vonnie quinn. vonnie: activision employees are calling on the ceo to be removed following reports he mistreated women and ignored claims of sexual misconduct. according to the wall street journal, he was aware of rates that happened in 2016 and 27 in but fails to report them to the board. the journal reports he was involved in several sediments where he himself was accused of mistreatment. activision says the report presents an inaccurate view. hong kong disneyland will be close to ensure staff members can lead covid toes. visitors and staff at the park between 11:00 a.m. and 6:00 p.m. on sunday are required to undergo testing by thursday. pfizer has asked regulators for emergency authorization of its covid-19 pill, the drug cuts hospitalizations in high-risk patients by 89% and can be prescribed for home use. pfizer says it has reached a licensing agreement with a u.n. backed group which will allow generic cheap versions of the bill. global news 24 hours a day, on air and on bloomberg quicktake, p

vonnie: this is daybreak asia. i'm vonnie quinn. a liquidity crisis -- investors are waiting to see if the investor can pay its dollar coupon before it expires on wednesday. san francisco fed president said he expects supply chain constraints to extend into next summer's fashion summer. he held a virtual meeting and said inflation data is eye-popping but did not offer an outlook for rate hikes. bloomberg has learned a court in myanmar will deliver a verdict against aung san suu kyi on december 14. it will be the first ruling on the charges leveled against her since a military coup. she was detained as armed forces seized control of the government in february. she faces charges from corruption to unlicensed to a radio. claims alexander lukashenko is stoking a humanitarian crisis. polish troops used tear grass -- tear gas to prevent migrants from forming a barbed wire fence. thousands of refugees were found in the forest with temperatures dropping below zero. global news 24 hours a day on air and on bloomberg quicktake, powered by mor

i am vonnie quinn. this is bloomberg. shery: ahead we will discuss china's property bond market with cms managing. the chinese communist party against a plenum. live to beijing next. this is bloomberg. ♪ shery: china posted a record monthly trade surplus in october. exports surged to despite global supply chain disruptions. let's bring in stephen engle in hong kong. taken as a whole, what is the overall picture? stephen: clearly, the trade situation is helping offset a lot of domestic headwinds in the chinese economy whether it is real estate, the power problem, sporadic breakouts of the coronavirus, this has dampened consumer spending and sentiment. of course, you still have globally supply chain bottlenecks. but again, exports are really beating expectations in october. it is the 13th consecutive month we have seen double-digit gains. the big spike you saw in february was seasonal distortions. it has been steady gains for exports in china. in fact, exports through october already have surpassed all of 2020. we are alrea

i'm vonnie quin. this is bloomberg. still ahead, we will talk to the digital payment giants backed by and group -- ant group that made a stellar listing until yesterday. rishaad: in the next hour, the chief finance officer of the company readying for india's biggest initial public offering ever. this is bloomberg. ♪ yvonne: covid cases are continuing to rise. about 100 or so more confirmed cases. the country facing the most widespread outbreak since wuhan. this has spread to about 19 of the 31 provinces. take a look at what it means for growth, that will be the key concern. as they continue this zero covid strategy, they are looking at potentially a stagflation scenario. rishaad: this is it. what is the price isolated from having all of these lockdowns at various points of the country? you see the delta variant has emerged in causing a lot of fresh cases in china. the emotional and material loss ultimately. every battle against covid adding another layer of unhappiness. ordinary people depleting their means. arguably, i

let's get the vonnie quinn with the first word headlines. vonnie: thank you.oe biden told americans his new infrastructure bill will improve their lives and keep the economy moving forward. the president signed a $550 billion measure at a white house ceremony. he has appointed an official to guide the action. american still pessimistic about the state of the u.s. economy, particularly inflation. president biden: here in washington we have heard countless promises. but today, we are finally getting it done. so my message to the american people is this, america is moving again, in your life is going to change for the better. >> two former fed president say the central bank will probably have to raise the great targets with the 3% to keep inflation in check. jeffrey lacher told bloomberg television it's plausible that the rate will go to the highest 4%. former new york fed chief said markets are underestimating the hikes. >> i think they are probably going to start after june or in little bit later, then they will go faster than what people think, and to ai heigh

i am vonnie quinn. this is bloomberg. ♪ yvonne: still ahead, we kick off our new segment focusing on southeast asia, on asean ahead. look at how the region is faring in its fight against the pandemic, and other challenges, with author and former diplomat kishore mahbubani. rishaad:. rishaad: and this chinese delivery company is posting its biggest loss in three years. . this is the outlook for the region's tech giants, with moody's investors service. that is underway next. this is bloomberg. ♪ this is bloomberg. ♪ yvonne: here is your latest check, mate -- you are seeing meituan after they recur outlook was forecasted for the company after reporting the steepest quarterly loss since 2018. this goes to show right now, the impact of the regulatory crackdowns is still very front and center. rishaad: also when looking at these platform companies, this is a statement from the market regulation, publishing the rebuke of such companies here, saying that they muscle into community group buying, fueling concerns

i am vonnie quin, this is bloomberg. yvonne: the outlook for deals in india as the economy takes upwards. we are joined by bnp paribas. this is bloomberg. ♪ yvonne: let's look at the latest developments when it comes to china's property. kaiser shares are resuming trade after the suspension. a pop of close to 18%. the group offering to exchange at least $380 million in bonds. the bid to ease the cash crunch. rolling out measures to support the industry. evergrande shareholder speaking $86 million share placement. the latest we are getting out of china property. getting some more downgrades from agencies in china. take a look at how junk bonds are dealing. a little bit of rallies. seems things are losing steam once again. with us is niraj. we were talking about with other guests that perhaps we have seen the worst on junk bonds. are you subscribing to that kind of view? >> overall, yes. i would say we are on the path of recovery. i would not ignore either. slight shift for the alternate sources of capital and valuation se

this is bloomberg. ♪ vonnie: this is daybreak asia. i'm vonnie quinn.on columnist is urging the fed to acknowledge that inflation is not transitory. he also told fox news sunday it's time for a change in policy and a new person in charge at the u.s. central bank might have found it easier to alter course. jerome powell has been renominated as fed chair last week and repeatedly said the fed is underestimating inflation risk. japan's retail sales increased for a second straight month, advancing 1.1% in october from the previous month and beating economist forecast. the numbers add to signs that households are resuming spending after a 30's listed an extended state of emergency. japan needs household spending to support the recovery as global supply chain destructions soften momentum from the export oriented industries. hondurans have voted in presidential elections that may upset the national party's 12 year rule and ends the nation's alliance with taiwan. the wife of a former president has been leading the polls. while the scandal hit ruling party has pl

let's get the first word news with vonnie quinn. vonnie: the st. fed president says the central bank should speed up monetary spillovers. the fomc said it would begin tapering the $120 billion a month bond buying program which was put in place in the early days of the pandemic. it's on track to seize purchases by mid-2022. >> the inflation rate is high, the core inflation rate is about 3.6%, the highest it's been in 30 years. i think it behooves the committee to attack and a more hawkish direction. we could move faster, we kept optionality on this, we could speed up the taper if it's appropriate. vonnie: the u.s. says flight restrictions may be needed as air carriers adjust to 5g signals. officials have said it's possible 5g signals could disturb equipment on airliners and helicopters. the faa says it's having productive discussions with the fcc and telecom industry who see no evidence of a problem. china is said to be accelerating plans to replace foreign technology, sources say -- acting as a gatekeeper. we are told 1800 chinese suppliers have be

let's get you to first word news with vonnie quinn.e: power supply has returned to normal across most of the country. electricity is now only being restricted for some industries in selected provinces. it warns it will take a balancing act over the winter. the company supplies power to 1.1 billion people, 88% of chinese territory. china posted a record monthly trade surplus in october. experts -- exports surged 27% from the year earlier to more than $300 billion. that was the 13th street much of table -- 13th straight month of double-digit growth. china's exports through october have surpassed all of 2020. president biden says he will sign off on the biggest u.s. infrastructure plan in decades. the house passed the bill late friday night after voters -- the $550 billion measure includes money for roads and bridges as well as expanded broadband, clean water, power grid upgrades , and pollution cleanups. elon musk social media followers voted that the tesla chief should sell 10% of his stake in the electric carmaker. about 58% of 3.5 mil

i'm vonnie quinn. this is bloomberg. yvonne: still ahead, india surprises the climate summit with a bold pledge to reach net zero emissions by 2070. we're going to discuss more with senior analysts. rishaad: david wang on what he is expecting from the chinese economy in 2022, and whether there's going to be more policy easing. this is bloomberg. ♪ berg. ♪ >> the need for aggressive easing, obviously if growth continues to slow, pboc will have to act. at the same time we should keep in mind that the fed is going to normalize monetary policy. that will narrow the room for pboc policy action. my expectation is monetary policy will remain flexible and actions will be more structural. yvonne: that was the peking university professor and former pboc advisor speaking to us on the sidelines of the credit suisse conference. as he mentioned, there is not a lot of runway now for the pboc to have any easing given the fact the global outlook you continue to seek global banks turning hawkish and you still have inflation concerns. rish

i am vonnie quinn, this is bloomberg. shery: starting with the rally in u.s.s, morgan stanley says the bullish trend can continue into thanksgiving at the end of the month, but not much longer. the bank notes the fundamental picture is worsening with the fed expected to start tapering and earnings growth slowing further. haidi: we are looking at junk bonds. pension and invents -- investment growth have been flat -- plowing to junk bonds. despite a decline, barclays notes the yield index has resumed to 4.23%. they also note that hedging costs remain reasonable throughout 2021. philip lowe faces major communications challenges today. he will scrap the bond yield target after the central bank allowed market selloff to continue without defending it. let's discuss with -- just by refraining from taking action at a point where the yield was at 1.8 times more than the rba target, it does that implicitly suggest they are comfortable? >> i am not sure they are comfortable but i think it suggests that the point where the yield curve target in april 2024 no longer fits c

this is bloomberg. ♪ vonnie: this is daybreak a shower, i am vonnie quinn with the headlines.won a mandate for potentially link for life. he delivered the first doctrine by attorneys leader in 40 years, joining moshe dong and one other. -- as a dong and one other. -- mao zedong and one other. a hong kong judge has jailed a man nearly six years for attending -- chanting a band protest slogan. the 31-year-old was dutch we did not guilty. he says he does not regret his actions. mexico central bank raising by a quarter point. there's is led by governor alejandra who is seeking -- even as it accelerates faster. in peru also tightening policy after inflation -- ray dalio morning but the effects of inflation on real wealth. he says some people make the mistake of thinking they are getting richer. but they don't see their buying power is being eroded. he added the ones most hurt or those with money in cash. he says there are better assets to hold. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countrie

i am vonnie quinn. this is bloomberg. >> one u.s. assessment by the pentagon says china's nuclear arsenal is expanding more rapidly than believe. report comes after china conducted hypersonic missile tests, in addition to increased tension between beijing and washington over taiwan. let's bring in stephen engle out of hong kong. what do we learn from the report out of the pentagon? >> the annual report to congress is saying the capabilities, the nuclear capabilities are expanding faster than previously forecast by the pentagon. they are saying by 2030 that china should have at least for more than 1000 nuclear-capable warheads in their arsenal. in addition, the report cited three silo fields being constructed that are capable of containing hundreds of new icbms. china has accused the u.s. of overhyping the threat posed by the modernization and says there nuclear buildup is purely defensive in nature. still, america has been ramping up some rhetoric as well. we had the highest ranking uniformed military o

i am vonnie quinn. this is bloomberg. >> coming up, we will get more insight on the week ahead as central bankers and opec assess the impact of the new covid strain. and shane oliver joins us next. this is bloomberg. ♪ >> entering a bit risk off day. >> this unwelcome news -- >> i can quite understand why financial markets are worried. >> on the back of thanksgiving. >> some of the investors will take some risk off the table. >> the time it takes to analyze the virus. >> every major nation should start dealing with this as if it is an issue just for their nation. it is not. >> the delay rather than a fundamental derailment. >> this is not the first covid, this new strain we are seeing -- >> we should not imagine the all is lost. it is not. >> some of our earlier guests commenting as the new variant roiled markets. investors will have an early opportunity to see how policymakers respond to these new variant fears. opec-plus will face the impact of the new variant. the emergency crude reserves after oil's

vonnie quinn is in new york with your first word news. vonnie: president xi jinping says china is open to discussing trade with the united states. he says china will take an open attitude to talks on issues such as the digital economy, trade, and the environment. he also mentioned policies aimed at boosting imports. a london court has allowed malaysia to continue its sovereign wealth fund. malaysia's government challenged the arbitration settlement between the two sides in the u.k. the london case is one of a series of legal and regulatory investigations around the world linked to 1mdb. the biden administration has mandated covid-19 vaccinations for all staff for companies with 100 or more employees. under the federal rule, workers must be fully vaccinated by january 4 or submit to weekly testing. employers that do not enforce the rule face fines. about 18% -- 80% of u.s. adult have received at least one shot. david: let's tell you what is coming up in the show. come on, guys. i did not put my lipstick on today, nor did i brush my teeth.

i'm vonnie quinn. this is bloomberg. shery: why blackrock's woodland, says that rieslings can provide more in portfolios. -- for more resilience. this is bloomberg. ♪ pres. biden: this variant is a cause for concern, not a cause for panic. >> this variant has the ability to escape the protections of our vaccine. i think that that's something that we will know in a couple of weeks. >> fortunately for us, the pcr's that we mostly use would pick up this very unusual variant. pres. biden: my team is working with pfizer and modern and johnson & johnson to develop contingency plans for vaccines and boosters if needed. >> we have a high level of confidence we will have it ready within 100 days. but we can very high level of confidence that we can manufacture it by billions if needed. shery: let's discuss the broader market invocation spirit we are joined from singapore by the head of economics and strategy, vishnu varathan. always great having you with us. in the new york session we saw a commodity related -- gaining against th

i'm vonnie quinn.his is bloomberg. ♪ paul: still to come, we discussed the outlook -- discuss the outlook for commodities. our guest will join us to discuss, martin lakos of macquarie wealth management. -- let's discuss more with martin lakos, division director at macquarie wealth management. his president biden -- is president biden overcooking it a bit or does he have a point? >> he has probably overcooking it a bit. when you look at the statistics, this plan to slowly raise production, there's no doubt the white house wanted to see the fuel pump prices come down for consumers. when you look at the iea's forecast of demand, there's still a gap between demand and supply by about 1.4 million barrels a day, going into next year. that's probably a bit of a swing factor for opec and the opec-plus group. so at this stage, it is a little bit of positioning with regards to the pricing of the end products. from the supplant demand suspected -- from the supply and demand perspective, it is what we were expecti

i am vonnie quinn. this is bloomberg. >> blackstone doubles down with a sweetened offer for crown resorts. we will discuss what that means for the casino operator with steve johnson. up next, we examine the prospects for a faster taper. jason schenker. this is bloomberg. ♪ >> let's take a look at the week ahead. tuesday, key u.s. and eurozone manufacturing data. grappling with rising costs because of supply chain constraints. the rbnz decision this week. and shoppers but where, black friday deals are expected to disappoint. americans should expect weaker seasonal discounts after thanksgiving day. what a shame. >> [laughter] we were looking forward to those discounts and we may not get them. i head of that, the president expected to announce his nominee for the next federal reserve chair. jerome powell remains the favorite though odds for brainerd who markets see as a more dovish option remain. and other vacancies also need to be filled. let's hear what some of our guests think will be the implications o

we have vonnie quinn in new york. kiwi fell after new zealand hiked its encz mark rates -- benchmark the rbn said -- the central bank's latest forecast show it expects to lift the cash trade to 2% by the end of 2022. that is one year sooner than projected. jp morgan's ceo says his bank is likely to outlast china's communist party. he made the comment during a panel in boston where he reiterated his commitment to china. he added jp morgan cannot enter and exit a country every time it has concerns about policy. the business community should have taken issues related to china more seriously a decade ago. >> the communist party celebrated its 100th the are, so has jp morgan. [laughter] vonnie: china has called -- curtis appearance earlier this month after alleging sexual assault caused international outcry. a spokesman told a news conference the case should not be politicized. peng seen in images over the weekend. el salvador's plans for a billion-dollar bitcoin bomb sends debt to an all-time low. closes the door on a dea

let's get you to vonnie quinn. >> good morning.hinese premier says his country's economy faces new downward pressures and -- taxes and fees. the state tb comments -- television comments, he said the economy needs adjustments. president biden says he will soon be announcing his pick for key fed positions. he told the conference in glasgow he is meeting with advisors to decide on the best choices. it remains unclear whether he is leaning toward reappointing jay powell or replacing him. the meta-platform says it will no longer use facial recognition over privacy concerns. it says it needs to weigh the benefits over worries about the technology. facebook has used facial recognition since 2010 to encourage users to tie family, friends, and content. ahead of soccer has been indicted. officials found a payment was made without a legal basis. both men have denied wrongdoing. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. shery: still

i'm vonnie quinn. this is bloomberg.ext on bloomberg markets: asia, we preview the india gdp data with goldman sachs. that's next. this is bloomberg. ♪ juliette: you are watching bloomberg markets: asia. india's gdp rose back to its pre-pandemic level in the july and september time, rebounding from the slump in the previous quarter, which was caused by a massive second wave of covid-19 infections. rishaad: acceleration next year of growth thanks to consumption coming back. goldman sachs seeing india economists. thank you for joining us. spending -- government spending on top of things with the expectation on a .3% growth in the third quarter. what's your view of this and if it's even sustainable. >> we are looking at a .3% growth in q3 of 2021. that is going to be primarily driven by consumption coming back to a trend. if you see horrible consumption, demand has been stronger. air passenger traffic is coming back closer to push pre-covert levels, so his control consumption. the way we track it is through our el i, which

i am vonnie quinn. this is bloomberg.up, this company discusses its strategy for assets as prime minister modi bets on a fifty-year rally in the nation's stocks. rishaad: and just ahead, evergrande is back in the spotlight over a missed coupon payment as the fed flags risks in china's property market. this is bloomberg. ♪ rg. ♪ haslinda: another day. another evergrande-related coupon deadline has passed without payment, leaving bondholders wondering whether the indented developer is heading for default. david: we have stephen engle with us, our chief north asia correspondent. he has been over this. it looks like a death by a thousand cuts, in slow motion. should people be worried now? stephen: about potential default? obviously, when you miss a coupon payment, you get a 30-day grace period. and they got that. this is a unit, scenery journey, of evergrande, that had two dollar bond coupons. that forwards to the first business day for him and, one day. he did not get it, according to a couple of bondholders contacted a bloo

vonnie:

for more on this raging controversy, let's go to our very own now and the care vonny. ah . the cop 26 conference in glasgow world leaders weighed in on the state of the fight against climate change. saying we're we are, how do you say? and small nations chimed in with a know we are. meanwhile, states side, iran must fever, dreams, face sex is frequently turning to fossil fuels. in texas. ilan mosque wants to drill frack, treat pipe, and process an entire vertically integrated oil and gas operation that is required for the proposed star based facility in a wildlife refuge. yes, you la mosque, the electric car salesman and champion of green energy. but that was his day job, his real passion is fracking, must have built enough goodwill to green wash and build a fossil fuel plant pipeline and drilling operation without having to disclose any of it to the relevant government agencies. as tesla's c e o, he builds his brand empire and received a lot of public money for his commitment to green energy. it's not like you're going to come out and say, hey, i did a lot of experimenting

and the party led by how many was he was the turn speaker, parliament, and much it was about as vonny, k d, p will form a majority government with some other alliances with other small parties and vocations to propose the upcoming prime minister seems to be it will either be to continue with the term turned by mister tommy, whose good alignment and operation was. father had a boucher and, but as he or the federalist might propose the subject candidate, which seems so far to be unlikely, in contrast to call the news. right. our report on the ground or per report or on the ground was speaking to some of the professors that remain camp to outside the vicinity of the green zone and who belonged to some of the parties that you were just mentoring. and they were saying this, well, wasn't them? this could be some sort of 3rd power, 3rd party, excuse me, trying to for ment strafe in the country. is that a likely possibility? and it is expected, they call a 3rd party or a 3rd site doing this. that was the same justification they used when they were attacking publicly and open the attacking and

vonnie quinn has our first word headlines.: the ecb's vice president says inflation could slow next year but not as quickly as expected a few months ago. he tells bloomberg that easing price pressures would prove the current bout of inflation is transitory and reaffirm the views of central bankers. he also says that he doesn't expect the ecb to raise rates for at least a year. >> we will see what happens over the next months with the evolution of the economy and inflation. my personal view is that it's going to be quite unlikely to have a lift off of rates in 2022. su: to the european union which is reportedly postponing plans to upgrade trade ties with taiwan. brussels has been expected to announce a new framework to liaise with taipei on trade and economic issues. the south china morning post report those plans have been shelved or may be revisited at a later date. china's ambassador to the eu once the block against developing official relations with taiwan. beijing is further tightening virus restrictions even after china's

vonnie: hey, dani.sland -- introducing some covid restrictions as it gray wells rising hospitalizations. prime minister mikhail martin says people should work from home where possible and cinemas and theaters will now require proof of vaccination. meanwhile, a report says u.s. reck lators could authorize wiesters -- beasts -- boosters for all adults by the ebbed of the -- end of the week. hock could be -- u.k. prime minister boris johnson is proposing amendments to parliament should be banned from taking paid political consultancy work. this as he tries to draw a line in two weeks of damaging headlines for its ruling conservative party. the plan of a dramatic reversal from johnson's position when he entered -- ordered his m.p.'s that blocked the suspension of a fallen minister. the opposition labour party says the proposal waters down its reform plan. china is said to be accelerating plans to replace foreign technology. sources say a secretive government-backed organization is vetting and improving -- a

fox's you, vonnie leisure is joining us from kenosha, where geo. week. good evening, greg. will we could those closing arguments will begin on monday. the case could be hinted to the jury either late monday evening or early tuesday mornin, and law enforcement agencies here in wisconsin are actually planning for possible protests. i was cornered from in front of me with mr tyminski. after a week of shocking testimony. and he did. arguments between the judge and prosecution for the contest. brazen with me, i was astonished. when you began your examination by commenting on the defendant's post arrest silence, both sides of the rittenhouse trail have officially rested their cases. state formally arrested its case and we would rest. but even today with the jury gun if there were more arguments following the prosecution's request for the courts to consider lesser charges if they are agreeing that rittenhouse is facing life in prison if convicted. his mother is now speaking out, my son. it's not a white surprise. it's not a racist. he's a caring young man