let's get to vonnie quinn with the first word headlines. vonnie: the u.s. cdc reclassified its travel advisory for singapore, telling americans to avoid traveling to the city because covid levels are unknown. singapore joins the same classification category as afghanistan, north korea, and syria. weekly infection growth rate has increased. they have faced nearly two months with over 800 cases reported tuesday. japan will bring forward booster shots for elderly people and maintain tight border controls to slow the spread of the omicron coronavirus variant. the prime minister told the new year news conference that million vaccine doses are available across the country. 1% of the japanese population has received their third shot. >> in order to guard against a rampant spread of community infections, our omicron measures will shift to domestic focus while maintaining the current border measures. we will further strengthen the framework for protection and treatment. as for vaccines, we will work forward a third doses for healthy workers and elderly. vonnie: gold

let's get the first word news with vonnie quinn. vonnie: thank you. the u.s.na's drive for, prosperity us. the founder of bridgewater is urging the states to narrow the wealth gap. speaking at investment conference dalio praised atreides push to redistribute its money and opportunities equally among the population. -- he praised china's redistribution of its money. jerome powell will tell the senate banking that the federal -- higher inflation is becoming entrenched. he's prepared opening remarks for his confirmation hearing, cautioned that the post pandemic economy might look different than the previous one. president biden picked powell for a second four year term. top u.s. and russian diplomats continued to agree -- agreed to keep talking. the two sides held the first discussions in geneva. it did not lead to a breakthrough. as nato may expand further east however, the u.s. and russia signal interest in further negotiations. >> some of the issues that might be basis for future exchanges. and hopefully also some progress. vonnie: meanwhile president putin vo

vonnie: a covid wave may peak. however, president biden's chief medical advisor anthony fauci says the turnaround will not be uniform with states in the south and west still seeing rising cases. fauci did say they should soon ease. he warns the worst case scenario as covid enters year three is a deadlier variant. chinese officials have ordered all 2 million residents of beijing to be screened for covid after workers at a storage plant tested positive. the cluster in the chinese capital shows early signs of the virus spreading to neighboring regions adding pressures to -- on authorities to contain outbreaks two weeks before the start of the winter olympics. hong kong has recorded the highly state -- the highest daily numbers of covid in a year. with three quarters linked to an outbreak at a high rise. it's unearthing hong kong authorities who haven't reported any local transmissions for seven months to late december. the city is under a limited lockdown. -- the finance ministry is said to see the inflation rate peak

i am vonnie quinn.ming up, the largest company in asia, a bellwether for the global chip industry, tsmc, reports earnings. credit suisse tells us what to expect. this is bloomberg. ♪ s is bloomberg. ♪ >> breaking news, affinity is considering the sale of a hong kong-based garment label maker. they have received interest from potential buyers. the sale could value it at $1 billion and would likely attract other private equity firms. it makes garment labels and radio tags. it is considering the sale. let's turn to tsmc. they are reporting today. it is the biggest foundry in the world. it just announced a sixth quarter of record sales. investors are waiting on details. at their are earmarking billions to ramp up production capability and aiming to close the gap with tsmc's technological advantage. tsmc is ramping up its capacity around the world. >> yes. let's get more when it comes to the strong outlook with our next guest. he is the head of taiwan equities research at credit suisse. great to have you wit

let's get you to vonnie quinn with headlines. vonnie: u.s.st in four decades when data is released wednesday. that will underscore the shift in the federal reserve approach to monetary policy. economists seeing cpi raising 7% through december and up 4.4% from a month earlier. labor department data may show producer prices surge nearly 10% last year. new york reported almost 80,000 new covid cases sunday as the state passed 4 million total infections since the start up in the. u.s. daily cases doubled over the past week with hospitalizations rising rapidly and fatalities trending upward. nancy pelosi says there is opportunity to add coronavirus relief aid to a package of federal legislation if the white house asks. china has launched a mass testing blitz in tengion. that is after confirming two locally transmitted omicron cases. hong kong's financial secretary warns the city's economy will take a hit as the variant takes hold. morgan stanley and bloomberg? not -- bloomberg economics have already made their forecasts for hong kong. global news,

i am vonnie quinn.berg. >> still to come, the inflation print just outside the target bad is expected out of australia. we get immediate reaction from bill evans. up next, u.s. forces on alert. the pentagon says russia is not showing signs of de-escalating. we will have the latest. this is bloomberg. >> today, we discussed russia's continued military buildup around ukraine. the risk of conflict remains real. we continue to call on russia to de-escalate and to choose the path of diplomacy. >> be faced a very serious crisis. everybody is very much worried here about the risks of this crisis in the heart of europe. we must deter him by clearly indicating that -- would have as a consequence, very serious consequence. pres. biden: i had a very good meeting with european leaders. >> tensions. ukraine. the impact of the crisis playing out across markets. we did see oil weaken a little today but eu energy prices have been spiking with the potential cut off of supply and russia. natural gas is where we saw the a

vonnie quinn is in new york. vonnie: yes, we have been waiting a few days. theranos founder elizabeth holmes has been found guilty over the collapse of her lead testing company. a federal jury convicted her on four of 11 counts she now faces up to 20 years in prison. during the trial, holmes accused her former boyfriend in business partner of abuse. he'd united those claims and he faces his own fraud trial next month. opec and its allies are poised to revive oil production when they meet on tuesday after getting a tighter outlook from markets. the alliance is on track for a modest out revival of 400,000 barrels a day. on monday estimates were cut, predicting weaker growth from rivals. apple's market value ruefully rose above the $3 trillion mark before paring gains. the stock has more than tripled since covid sent to the world into lockdown in early 2020. apple is trading at a premium. 5% above the average analyst rice target. tesla is drawing criticism for opening a new sharon room -- showroom in the xinjiang region in china. . the opening comes just a week

i am vonnie quinn. this is bloomberg.aidi: still ahead, we take a look at the u-turn in bearish and currency calls as fed hike straw nearer. agricole's eddie cheung. it will be a stock pickers market this year. we get her outlook just ahead. this is bloomberg. ♪ ♪ haidi: we are seeing that recovery rally play out when it comes to the early part of the sydney session. take a look at the movers we are watching. watching the big -- bhp after we continue to see new -- when it comes an upgrade. s&p upgraded the bhp if the unification is approved. where lodging after pay as well, saying that block, formerly known as square, has received approval from the bank of spain in regards to its acquisition of lanai. finally, watching cba, the commonwealth bank of a straley a, trading just downside of .1%. resolution could potentially impact cba. u.s. listed chinese stocks surging after beijing pledged to civilize trade and financial institutions to boost credit. let's bring on our guest remains long own convictions. pooja malik, partner

i am vonnie quinn.sident says the central bank would raise rates by a half point in march if needed. in an interview with the financial times, refiled bostick said that three-point hike starting in march is the most likely scenario. he said all options are on the table.. . and stubbornly high consumer prices may justify a more robust increase china's manufacturing sector expanded. covid outbreaks, and housing markets dropped down activity at small firms. pmi declined to 50.1. both readings followed consensus forecasts. factories also closed as people head home for the lunar new year holiday. the former you see the head mario draghi as prime minister. he was initially seen as top contender for president, but lawmakers feared a return to political chaos without his leadership. mattarella was reelected as president. exit polls in portugal so that the socialist prime minister won the parliamentary elections. it would be the third term with his party projector to take up to 116 of the 230 seats in parliament

let's get over to vonnie quinn in new york for the first word news. vonnie: thanks. the world bank cut its global growth forecast as covid cases surge. expanding by 4.1% this year versus 4.3% previously. goldman sachs lowered its gdp growth for china to 4.3% this year, given the difficulty of containing the omicron variant. european union regulators are warning that frequent covid-19 booster shots could adversely affect the immune system and may not be feasible. they said repeat doses could eventually weaken people's immune systems. they want more time between boosters. israel had already begun a fourth those program with about 400,000 people getting the job. novak djokovic is back training as he competes for his when he first grand slam victory. he faces possible deportations by the trillion government for a second time. the world men's number one was released from detention after a judge overturned the cancellation of his visa. the immigration minister is still considering whether to repeal it again. global news 24 hours a day on air and at bloomberg quicktake, pow

vonnie: u.s. are nearing agreement on a bill that could include entities even if moscow does not send troops into ukraine. the foreign relations committee chair it says restrictions could be applied based on what the kremlin has already done. the u.k. is reportedly looking for ways to target the wealth of a russian oligarch in the london property markets. atlantic president said the federal bank could raise rates by half a point in march if needed. in an interview he stuck to his prediction of three quarter-point hikes starting in march is the most likely scenario. he added that all options are on the table and consumer supplies may start a more robust increase. china's property sector slowed in january. the housing market dragged down activity at small firms. the official gauge climbed to 50.1 while the known manufacturing index fell to 51.1. both readings were marginally above consensus forecast. workers had home for the lunar new year holiday. global news 24 hours a day, on air and on quicktake

let's get the first word news from vonnie quinn in new york. vonnie: north korea confirmed it tested a hypersonic missile on wednesday. state media says the missile could likely hit a target 700 kilometers away. this came days after kim jong-un indicated new there talks with the u.s. were a low priority. taiwan will set up a $200 million fund as tensions escalate. they say the fund will be used for developing a tech sector and a chip industry. they allow taiwan to set up a representative office in the capital. singapore will require booster shots for people to maintain full vaccination status. this is needed to enter shopping malls and offices. they will lean on home recovery and testing to manage the virus. they will share covid statistics with the u.s.. australia has revoked the visa of tennis star novak djokovic. he has not made his vaccination status publicly known. federal officials say he failed to provide appropriate evidence and will be deported. >> rules are rules. there are no special cases. rules are rules. that is the policy of the

let's get you to vonnie quinn. >> new york city's covid-19 infections may have reached a peak one month after the first case of the omicron variant was identified. the seven-day average has dipped significantly since the end of december. the cdc has raised its travel alert for canada to the highest possible, recommending against travel. the cdc urges citizens to avoid plans. novavax says it has shipped its first dose of its covid vaccine to europe. the novavax jab is already used in several countries in asia and the country expects feedback from u.s. regulators sometimes -- sometime next month. the shock can protect from covid and the flu in one shot -- vax can protect from covid and the flu in one shot. both the u.s. and russia signal interest in further negotiations. >> on some of the issues, there might be basis for future exchanges. hopefully also some progress. >> china's governor says the country will speed up investments in key projects and boost domestic consumption. a state council meeting urged faster, li

let's get the first word news with vonnie quinn. vonnie: the u.s. surgeon general says the covid outbreak could worsen in the short-term. speaking to abc's this week, he called on health officials to close the gap in the severe shortage of testing. he says it is still not enough, adding that the country faces a tough few weeks ahead. a new poll finds that north americans find defaults in president biden's handling of inflation in the economy. price pressures are the biggest challenge. u.s. headline inflation is the highest since 1982. a separate poll indicates that biden's popularity among black voters has plummeted. he carried 87% of the black vote in the last election. a u.k. labour party leader says prime minister boris johnson broke the law and allied regarding parties held during national coronavirus lockdowns. the controversy stoking rage among the party, with some members calling for him to step down. the conservative party chairman said now is not the time for leadership battle. president biden's national security advisor says it will not be

i am vonnie quinn. this is bloomberg. rishaad: still to come, going against the consensus for an increase in hong kong prices. haslinda: and we will dive into goldman sachs results which reveal how expensive it can be to retain talent. keep it here with us. this is bloomberg. ♪ haslinda: it is a risk off day here in asia, after all sectors on the s&p closed the day in the negative. the nasdaq dropped 2.5%, investors selling high growth as well as high valuations stocks. jonathan is with us, you say singapore is a defensive play. we don't talk much about it and it's time to look at singapore stocks. jonathan: yes, we were bullish on it last year, turned it over to strong overweight for this year. the s&p 500 goes to 4400, but it also had a lot more than that. it's got a very strong value component and very strong banks in the index. it has a rocksolid external position with substantial current accounts. i would characterize it as a creative approach to managing covid, which is going to see it well over the medium to long-t

i am vonnie quinn. this is bloomberg. shery: still ahead, and australian fund is targeting the retirement wealth gap for women. a ceo joins us for our special segment. omicron's bread and threat of a stronger dollar is clouding. we break it down. this is bloomberg. ♪ >> powell said during the press conference clearly they were going to go. >> is this a meaningful shift to the place with the federal reserve is going to raise interest rates so rapidly? >> what has changed in terms of the reaction function? >> of this is the early facings -- phase of a tightening cycle. >> the only surprise was the view on the balance sheet runoff. >> we should expect volatility to return to markets when we get unexpected results of the central bank. >> the fed has signaled pretty significantly about their tapering plans. shery: our guest reacting to the fed's december minutes. our next guest is guarded on the outlook for fed rate hikes and is forecasting two rate increases this year. let's discuss the potential impact with gary schlossberg.

i am vonnie quinn, this is bloomberg. rishaad: coming up on bloomberg markets, we are taking a look at what could be in store with cryptocurrencies. >> with the fed forced to begin tightening, where our treasuries headed? the outlook is next. this is bloomberg. ♪ >> the global bond market rally continues as we await that statement from the fed on wednesday. we are waiting to see when and by how much the fed rates will be enlarged and what normalization of the balance sheet will look like and when that will happen. so my questions. the markets grappling with all of that. rishaad: right. let's get over to dividend glass. -- david ingles. david: currently worth 1.8%. we will throw up a chart. let's have a look at the partial breakdown of the forecast. we will ever size the word partial. the question people have been asking is how early the fed will move. the other question is how far they can actually go. >> normally looking at u.s. inflation, the inflation at that level given that it has promised to contain consumer prices.

vonnie: the u.s.s russia must abide after a second round of talks concluded without a clear path forward. washington says moscow gave no commitment to de-escalation during wednesday's meeting. little progress was made in monday's denise -- geneva talks. on thursday, discussions continue, this time with the 57 nations. the international agency says global oil demand has proven resilient. the executive director says strong crew demand is mainly due to milder omicron expectations. he says russia is to blame for europe's energy crunch. saudi arabia's sovereign wealth fund is planning to invest about $10 billion more into stocks this year. sources say the goal is to more than double assets by 2025. we are told the fund is looking to buy global stocks based on a thematic strategy that focuses on areas like e-commerce and renewables. 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 bloomber

i'm vonnie quinn. this is bloomberg. shery: coming up next, more big bank earnings. the wage wars are heating up. we break down the results. plus, one of hong kong's few esg focused family offices tells us how they are building long-term wealth through sustainable investment. this is bloomberg. ♪ >> the situation that our business leaders are facing which is a large amount of uncertainty. >> our lives are centered on recovery. >> before the end of this year, we will get to a better place. >> the fed is going to begin to raise rates. >> it's going to be a constant trade-off between whether the market believes that the fed and other central banks have really got this gumption to raise rates aggressively enough. >> the u.s. china situation does create real challenges for any country to find a pathway. >> we see ups and downs because of temporary micro issues. long-term, we will be fine. >> this year should be better than 2021 and 2020. >> industry leaders discussing their outlook for 2022. let's turn to u.s. bank earnings w

vonnie quinn now with the first word headlines. vonnie: thank you. the latest covid wave in the u.s. may soon peak, but however, president biden's chief medical advisor says the turnaround will not be uniform. states in the south and west are still seeing a rise in cases. but dr. fauci said they should soon ease. he says the worst case scenario is a deadlier variant emerging. u.s. secretary of state antony blinken has rejected measures to escalate sanctions on russia over its military buildup around ukraine. he argues it would limit western options in the future. he told nbc that officials are tracking the security situation in the ukrainian capital hour-by-hour. the white house is also said to be weighing, to pull families of diplomats out of ukraine. russia has dismissed allegations by the ukraine for plans to install a pro-moscow leader in the ukraine. many ukrainian politicians are already subject to western sanctions. the ukraine says that a former mp is a potential candidate. russia says nato countries are the ones escalating tensions around uk

we get over to new york and join vonnie quinn. vonnie: we have a lot of inflation data.a begins to be released wednesday. that data will underscore the shifts in the federal reserve monetary policy. cpi, economists see it rising 7% for the year through december. data thursday shows prices surging at nearly 10% last year. new york reported on most 80,000 new covid cases on sunday at the state passed 4 million total infections since the start of the pandemic. u.s. daily cases almost doubled over the last week. fatalities are trending upward. house speaker nancy pelosi says there is an opportunity to add coronavirus aid to a package of legislation if the white house agrees. russian led troops are pushing ahead with operations to restore control after crushing the biggest protest in decades. almost 6000 people have been detained since the demonstrations broke out. officials say 154 peopleglobal n air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. rish? rishaad: alex is bullish on

i am vonnie quinn.his is bloomberg. ♪ shery: still ahead, how a potential russian invasion of ukraine could impact oil and other commodities. our guest joins us from the sidelines of the asia-pacific conference to discuss. up next, a wise time to look beyond interest rates. thornburg investments' jason brady joins us to discuss that and the investment outlook. this is bloomberg. ♪ ♪ >> volatility is back. the vix at 39. >> yesterday was one heck of a selloff. >> paid is not surprising to me to see these dramatic shifts. >> there is a lot for the market to digest. >> a seachange in terms of fed policy. >> risk valuations on some of these stocks. >> we think you should be buying. >> opportunity for the long-term investor. >> can we have more selloff? >> sure we can. >> we all knew volatility would be up. >> that is something to think about now. paul: some recent bloomberg tv guests discussing the volatility we have been seeing in the markets. it was another jittery session in the u.s., the s&p 500 closing

for now let's get to vonnie quinn. vonnie: north korea appears to of fired one of its biggest ballistic missiles in almost five years. early assessments from japan and south korea indicate pyongyang launch the intermediate range missile. the weapon is thought to have reached an altitude of more than 2000 kilometers and was flown for 30 minutes. north korea is fired more ballistic missiles in january than in all of last year. the president in italy has been reelected after a search for an alternative candidate. the former ecb had will remain as prime minister. he was initially seen as a top contender for president. lawmakers fear a return to political chaos without is leadership -- his leadership. exit polls in portugal show the socialist by minister as won the election, is third term -- his third term. -- the fed of japan says investors should not be worried about restrictions on share buybacks. the tokyo stock exchange president says he thinks it is unlikely that prime minister kishida will follow through on talks of

david: funny -- vonnie, thank you. when you look at commodities against the other asset classes, it was the outperformer by and large. i think the purple bar is the commodities one. that goes all boy back to 2009. >> absolutely. if you look at the commodities index, we did see other the bit -- a little bit of change. what a year for oil. we go over to stephen. what is the next move from opec? what is expected? libya has thrown a problem into the works. >> yes. they are going to be meeting opec-plus. they will be meeting to decide whether or not to go through with an increase in supply of 400,000 barrels per day to the market in february. this is part of a planned increase. they took that supply out of the market last year because of the drop of demand during covid. there is a more bullish view. i know that you guys talked a little bit more about omicron. there are some people that are not that worried about omicron. that is opec and saudi arabia. they think the omicron impact will be very small on oil demand . they thi

that's got to the first word news with vonnie quinn. vonnie: thank you.'s prime minister is monitoring for covid symptoms after a positive case was detected in his sydney. residence scott morrison was advised to be on alert after an infectious person attended a press conference there on wednesday. and at the state's recently revised guidelines, he does not need to isolate. singapore reported more covid-19 infections among travelers from abroad than local patients for the first time in six months. 260 cases were noted by the health authority on the first day of 2022, compared to 187 community infections. singapore has posed ticket sales via its vaccinated travel lanes until february. u.s. travel delays continue as winter storms ripped through the country, as well as staff shortages for the airlines. more than 2000 flights into, out of and within the u.s. were canceled out as of midday sunday, and topple over 5600 delays posted. this is according to the tracking firm flightover.com. this comes as thousands of travelers attempt to return home from the holida

vonnie: a divided u.s.ourt has blocked a key part of president biden's push to get more people vaccinated. it rejected an occupational safety and health administration rule that would have required 18 million workers to get shots or periodic tests. a vaccine requirement for nursing home and hospital workers was approved. the decision is a victory for 26 business groups and 27 republican states that sued. the u.s. is said to be pressuring european allies to agree on sanctions against russia. sources say the white house is worried about slow progress with the going concern president putin concern -- president putin could soon order and invasion of ukraine. washington met this week with moscow. those talks failed to shed light on the kremlin's intentions. the russian defense ministry says its troops are pulling out of kazakhstan. the soldiers were deployed to the x soviet nation. protest over a sharp rise in fuel prices started in early january and quickly became violent. the government requested assistance fr

let's get you to vonnie quinn. vonnie: thank you.o post its weakest economic growth in more than a year when it releases data in the coming hours. a boom break -- bloomberg survey shows that it expanded amid a deepening property market slump and disruptions from virus outbreaks. that will be the slowest pace of growth since the second quarter of 2020, boosting the case for a rate cut. the hong kong budget deficit for this fiscal year could rise to as much as $23 billion. original estimates record $13 billion. the bigger shortfall may happen if factors including debt issuance are taken into account. housing reserves could contribute to a larger figure. hong kong is making a steady economic recovery. bill ackman says the fed is losing its battle against inflation and should raise its key rate by 50 basis points to restore credibility. in a series of tweets, he said the market is anticipating three hikes to four hikes of 25 basis points each. a 50 basis point hike would reduce inflation expectations. the tsunami threat around the pacifi

shery: let's get to vonnie quinn. the new york attorney general subpoenaed ivanka trump and donald trump, jr., looking into their father's business dealings. they wanted to see if the former president's real estate -- president real estate was illegal. newly released documents show the woman suing prince andrew for sexual assault took a monetary deal. virginia giuffre -- her lawsuit is barred. andrew has denied the allegations. u.s. regulators have increased doses and schools reopen. the fda will allow a third stop for children between the ages of five and 11. the u.s. has seen an increase in hospital admissions, rising to more than 500 a day. new york mayor eric says they might expand vaccine mandates for booster shots. health sector employees are required to be fully vaccinated while a private sector mandate went into effect december 27. 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 am vonnie quinn. this is bloomberg. sh

i'm vonnie quinn. this is bloomberg. haslinda: still ahead, we will discuss the outlook for global market growth after apple reported their latest earnings. an expert explains why the world must learn to live with the coronavirus. hong kong and china stick with covid zero strategies. this is bloomberg. ♪ haslinda: all right, chinese property developers down for a third day. proposals being considered to breakup china evergrande. pressure on chinese property developers continues. rishaad: it absolutely does. they are trying to prevent the disorderly collapse of the troubled company. let's have a look at all of this in a bit more detail. the wider economy -- analysts say that is not enough to protect china and the wider economy. why do authorities consider such a way to deal with this distress which is facing evergrande? >> i think the government wants to take an orderly disposal for evergrande. that means to hit a balance between maintaining financial stability and to limit the impact to the economy and on the other hand,

let's get to first word news with vonnie quinn in new york. vonnie: thank you.istration sees the global chip shortage straining businesses from carmakers to consumer-electronics. officials say the private sector is best positioned to address near-term challenges. the u.s. is loaning their team .4 million barrels of crude oil remits strategic reserves. shel and philip 66 are among the largest recipients in what is the second biggest change of oil from the spr ever. nearly 40 million barrels have so far been released from the cache. the biden administration is trying to contain gas prices. dubai's finance minister says general came in at about $3.9 trillion, up .3% from the previous year at the weakest pace since 2003 according to bloomberg calculations. metropolitan police in london have begun a moment best to get in into the rule breaking parties held at number 10 downing street. it was announced hours after prime minister johnson's office confirmed employees had gathered to celebrate his birthday during the first lockdown in 2020. separately, a government repor

vonnie: from new york, i am vonnie quinn with the first word news. the u.s.ified travel advisory from singapore, telling americans to avoid traveling to the city because of its corporate infections. the city state infection rate has increased, with more than 800 new cases reported today. japan will bring forward. stress that's for elderly people and maintain tight border controls as it tries to slow the omicron variant. the prime minister told a news conference that 9 million vaccine doses are available now across the country. less than 1% of the population has received a third shot? >> to guard against the rapid spread of community infections, our omicron measures will shift into focus. while maintaining current border measures, we will further strengthen the framework for prevention and treatment. as for vaccines, we will work to bring forward toward doses or essential workers in the elderly. vonnie: the u.s. has agreed to by 10 million dollars of pfizer 's covid pill. it has been shown in clinical trials to sharply reduce hospitalizations and that due to c

i'm vonnie quinn. this is bloomberg.worries about contagion from china's crisis have reached country garden. more financially viable firms -- for the latest, let's bring on david engel it from hong kong. what is going on with country garden now? stephen: warning signals were raised last week when they failed to garner any demand for the $300 million convertible bond. as you rightly said, this was one of the more financially viable developers. this had been the largest developer contractor of sales in china, overtaking evergrande in 2017. they have been number one and like the other developers in this liquidity crunch, they relied heavily on the overseas credit market to fund expansion and what they have done, like evergrande, is expand into third and fourth tier cities. where the risks seem to be mounting at a faster pace than the more developed places like shanghai and beijing, the tier one cities. they have relied on this access to funding to grow exponentially and you have to look at its upcoming liabilities. it has t

i'm vonnie quinn. this is bloomberg. paul: let's have a check on the big gold producer currently our west -- worst performing stock. gold production coming in as a miss. the broader asx better by 1.8%. still to come, we discussed renewed xenophobia in japan. nancy snow joins us for that. we also look at how markets should be concerned with sticky inflation. this is bloomberg ♪ >> who knew that global logistics were this fragile? >> we have to be careful because we all live -- uncertainty is the word of the day. >> supply chains will be here till the end of 2023. >> we have seen shipping container prices increased by a factor of three. >> we will see price hikes from businesses to consumers. >> it's inevitable that some of that will have to be priced through toward the end markets. >> the labor market is very tight so it appears the market has less capacity than we thought that's why we are in a situation where inflation has not faded away quickly. >> the business is coming in supplies, wage inflation etc. of course, the

haidi: let's get to vonnie quinn with the first word headlines. vonnie: the u.s.iewing alibaba's cloud business to see if it poses a risk to national security. the investigation is focusing on how the tech giant plants data. the company is also facing regulatory issues in china where it continues to face good news from beijing over data handling. china's capital is seeing signs of further coronavirus bread with delta and omicron infections. authorities say a person in a different part of the capital tested positive for delta. officials has set up mass testing across the city. the greater tokyo region is set to come under aim -- an emergency from friday. measures are expected to be in place for three weeks as the government tries to wait -- rain and covid cases. the prime minister says the final decision will be made wednesday. local media reports the tokyo plans to raise the virus warning level with more than 5000 cases on tuesday. the u.k. prime minister boris johnson will face angry lawmakers in parliament during weekly q&a session on wednesday. his own party me

i am vonnie quinn.is bloomberg. ♪ >> we are seeing a little bit of upside after those losses we saw in the new york session. treasury yields surged here in new york and in the regular session. it was quit the reversal with equities higher for much of the day but then we had chair powell speaking. ready to raise interest rates in march. a bearish reversal in the afternoon. >> i am here in australia as well as we resume trading. the asx is better by 1% now. beach energy is performing on the asx right now. we saw the oil price surge. futures for the nikkei pointing to honestly -- modestly higher. you see across the bottom of the screen, we are watching yields for the aussie and kiwi bonds very closely. new zealand had blown out cpi numbers. 5.9% year-over-year. this is the fastest rate of inflation since 1990 in new zealand. bond yields rising here in australia when we had a similarly high inflation. >> when it comes to china's industrial profit numbers, out in the coming hours, let's go to the chief econo

let's get over to vonnie quinn. vonnie: the biden administration may slap export controls on russia if it sees more war in ukraine. it is discussing what allies. we are told the new trade rules could apply to shipments from the u.s. to russia and possibly to some foreign made products. some big european powers are said to be concerned about the economic follow of any russia sanctions. there is the risk of a split with the u.s. on how strongly to hit moscow in the event it in bait's ukraine. western allies are entering high stake talks this week aimed at defusing tensions with the kremlin. the eu is still weighing the impact of any trade restrictions. u.s. troops stationed in japan will no longer leave their bases a second -- except for essential reasons. areas close to bases are seeing record virus outbreaks. the problem is being blamed in part on u.s. forces. an emergency is in place across parts of japan including okinawa. sri lanka wants to restructure its debt repayments to china. the country is searching for fu

vonnie: the u.s. has delivered russia a written response rejecting most of its demands over ukraine. moscow once nato to redraw borders and close the door to ukraine. secretary of state antony blinken says the u.s. is still open to talks and he expects to speak with the russian prime minister in the coming days. the e.u. is set to launch a cased against china -- a case against china as the wto. the block will accused china of placing an unofficial embargo on with the way nguyen exports -- on lithuanian exports. china is set to start a nationwide crackdown on money laundering after stepping up revelatory efforts. the pboc says 11 government agencies will carry out the campaign until the end of 2024. china has recently increased efforts to investigate financial wrongdoing. in june, police arrested more than 1000 people in crackdown on the use of crypt currency. 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. von

haslinda: let's get to first word news with vonnie quinn in new york. vonnie: thank you. governor christopher waller says the central bank will have to raise interest rates as many as five times this year if inflation remains stubbornly high, but in an exclusive interview with bloomberg television, waller ruled out hiking in march 50 basis points. >> three hikes is still a good baseline. we will have to wait and see what inflation looks like in the second half of the year. if it continues to be high, the case will be made for four, maybe five hikes. >> rates could rise up to four times this year. analysts say that may change if inflation data falls quickly enough. philadelphia's fed president also sees up to four hikes. tom barton says officials should be ready to normalize by then. the rest of the defense ministry says troops are pulling out of kazakhstan. they were deployed to deal with protests that started in early january over full -- fuel prices and quickly became violent. novak djokovic has been entered into the first tennis grand slam of 2022 despite out over if a

i'm vonnie quinn. this is bloomberg. paul: we're watching james hardy at the moment, falling up to 7% after the ceo was fired. this is after employees complained about his work-related interactions. an inquiry found that while his conduct was not discriminatory, it did breach the james hardy code of conduct, so the ceo is gone. it must be noted that james hardie has upgraded its earnings forecast for the upcoming fiscal year. declining 7.5% in early trade here in australia. still to come, will hear from a researcher whose look at how diversity affects public perceptions of the central bank. why one market my -- market watcher sees opportunities for rebound as covid concerns fade. this is bloomberg. ♪ >> 2021, you saw strong earnings across the board. >> the stock market is saying we're going to have height normal growth, that should be good for earnings and profitability in 2022. >> it shouldn't take much for a little bit more multiple stability and continued strong demand on the top line for companies to deliver a year

i am vonnie quinn. this is bloomberg. paul: still to come, the u.s. secretary of state says it is too early to step up sanctions on russia over ukraine. up next, more market watches. seeing the fed tightening faster than expected. we discuss the implications with directions -- direxion's dave mazza. ♪ paul: time now for your week ahead. jampacked a few days on the economic and earnings front. in europe, italian lawmakers will start voting to elect the next president with mario draghi a top contender. regional pmi's on monday and gdp prints from germany and france. south korea also reports its latest growth figures on tuesday ahead of the debut of its biggest ipo on record. lg energy will list. the main event, the fed's first rate decision of the year on wednesday when we will also hear from chairman jerome powell. shery: the central bank is expected to signal its first rate hike since 2018 and pave the way for a march move. oldman sees a risk of more aggressive tightening until the inflation picture changes. janet yellen things the fed will be able to

i'm vonnie quinn. this is bloomberg. shery: we have pmi numbers across asia right now. improvement for a few economies including taiwan and south korea. south korea now seeing a gain of about 50. 1.9 in instead of the previous 50.9. we are still in expansionary territory and south korea. over the weekend we had export numbers for december pushing those value of shipments. we are also seeing taiwan's pmi numbers improving. they have been in expansion territory since 2020. indonesia, the philippines, malaysia, all pmi numbers above that 50 level. paul: for more on the pmi numbers across asia, let's bring in our bloomberg economic and policy editor kathleen hays. let's start with korea. demand for exports is driving the manufacturing pmi higher. kathleen: i would say to stepped back, these numbers look good. some have improved a lot. some have improved a little. at a time when the world is worried about the omicron variant, it may be throwing a monkey wrench in the works. so far, so good. with korea what we saw over the weekend was exports numbers. yes, they slowed down in

here is vonnie quinn with first word news. bonnie: yes.ay dozens of antigovernment protesters were killed by security forces and hundreds wounded after the president announced what he called an antiterrorist operation. the u.s. and eu have urged kazakhstan to seek a peaceful resolution. the world health organization says while the omicron variant may appear less serious than previous claims, it is not to be considered mild. global casas sword a record 71% during the week of january 2. actual case numbers are expected to be much higher due to underreporting. the u.s. cdc says it is working with singapore's ministry of health to update its travel advisory. officials in singapore blame lack of testing supplies. bank of america is encouraging u.s. employees to continue working remotely through next week due to a moderate surge in covid cases. an internal memo also encourages staff to get fully vaccinated and obtain booster shots. several banking firms are rethinking office plans after the holidays. i'm vonnie quinn and this is bloomberg. hasli

vonnie. how y'all? thank you all. i appreciate it, everybody. well, welcome to "family feud," everybody. i'm your man, steve harvey. [loud cheering and applause] and we got a good one for you today. returning for their fourth day, from marietta, georgia, it's the champs. it's the brewer family. [cheering and applause] and from queens, new york, it's the jagrup family. [cheering and applause] steve: everybody's here trying to win theirself some cash. somebody might have a shot driving out of here in that brand-new car. [cheering and applause]

health and that i'm much more aware of things and can take joanne numbers here, wilkins, unless often vonny won't of pointed on choosing not to follow doctor's recommendations, is a risk she to go look, his case is certainly an exception, but it's a hopeful, ah, let's continue with more unusual ways to heal body and soul with a little help from some animals. petto therapy is a kind of physical therapy on horseback. it's used to treat everything from paralysis to p. t. s. d and autism therapy dogs help people suffering from speech disorders or depression. wild camel's assist with burnout and parkinson's disease. and if you thought that sounded strange, how about these little creatures? our next report is all about the healing power of snails. introducing hilda, otto dahlia. and liza latter, when they're giant, african snails and their therapists, and they're also mary m shaggy hoskis pride and joy. she runs an animal assisted therapy farm shackleton had kind of quarter to use. nails aren't very cuddly, smoked, but they're not demanding. and they can be very therapeutic. do yeah, da, zine i,

i live here in matlab shave florida, where i've, you choir a life dream. vonny the small mom and pop motel. my captain. i do what are tours. so water quality is my sustainability. so in 2018, our ground 04 red tide devastation, millions of tons of dead fish. see live dolphins, vanity's marching up on our beaches all summer long. devastating are the mar mcnair economy as those phosphorus products to make their way in the waterway to feed the site, the bacteria feed the red tide. it leads to an ecological disaster of millions of tons of fish, kills this year over $200.00 manatees over $125.00 dolphins over $400.00 sea turtles and tons of miscellaneous fish that were killed this year. behind that was economic meltdown. the fort myers beach was a ghost town. people are lining up at food banks. the city of sanibel was losing $16000000.00 a day. people are not coming here. businesses are closing. people have actually committed suicide because of their business losses related to this. that phosphorus potentially even from the 2016 toxic spill into our sink hole in central florida, where 260

i am vonnie quinn. this is bloomberg. ♪ >> --rishaad: going straight to congress. a seen on the senate floor. a bite and let effort to protect and boating. u.s. senate there is voting to block filibuster changes. another setback therefore the president's legislation be blocked. ♪ rishaad: here is a name you may want to keep an eye on. we are talking about eki energy services. the company made its ipo debut last april. 10,000% gain in the stock. the chairman is joining us exclusively, manish dabkara. thank you for joining us. what a performance. i suppose people betting on the zero carbon, how do you fit in? manish: it was a fantastic journey, the last nine months. after that, the value thing i'm learning -- that is the journey in my head. expedia is irrelevant in terms of others. rishaad: we are expecting a carbon trading system to be introduced. how far are -- how far away rem up are you playing in the upbringing of those targets? what are you doing to get that helping in the absence of perpetrating -- absence of arbiter training at the moment? >> i will redirect.

joining us now to discuss all of this, is the chair of on ciaccio vonnie -- on say giovanni -- ance giovani worry about the next prime minister and what that means for access to the funds? angelica: we are mostly worried about what will happen in the interim if he leaves and a new prime minister is chosen whether it is through election or through another interim prime minister until the next election in 2022. this is a crucial year. and as you know, during a general election from everything grinds to a halt until the new prime minister is in place. there is a lot of fear. francine: we have been on the ground for four days trying to explain the system to americans. the italian political system is sometimes crazy. what do you need from the next prime minister? do you need mario draghi as prime minister? angelica: the business community is clear that mario draghi is our best option. we have seen how well he has managed the very complex issues around getting the recovery funds and planning to spend them and spending that well. from a business standpoint, he is needed and also because we don't k

. ♪ vonnie: 6 p.m. -- the united nations security council holding a public debate on ukraine after reject thing a russian did. antony blinken is meeting by phone with russian foreign minister, sergei lavrov. the u.s. and the eu are pushing to complete a package of sanctions. russia has night it plans to attack ukraine. boris johnson put on notice by his own lawmakers, they

what i think is happening here, vonnie willis, she's been investigating this case for over a year but now she's at a dead end. she has witnesses not willing to testify and the only way to get them to do that is in front of a grand jury. this grand jury won't decide whether to indict them or not. that will be another grand jury after the investigators have completed their work. >> not only is brad raffensperger the secretary of state here, but we know lindsey graham made calls, jr pak who thought he was about to be fired. should we expect they, too, could get called in front of this special grand jury, or is that a different process? >> no, we should, it's the same process, and as page said, it permits kind of a longitudinal way that you have in the system. a lot of people just want the subpoena to be able to show to trump or whomever, hey, i didn't have a choice, i had to go there. i'm actually surprised she hasn't asked for it sooner. the case is clean and discreet, and for that reason i think it's dangerous for trump, particularly so because it all centers around the call, and they