vonnie: this is bloomberg markets. ♪ vonnie: let's take a quick look at the markets.e have a modest rally with the s&p 500 up a quarter of 1% but the nasdaq is up most 22% from its december 28 lows so it's firmly into bull market territory. jd.com is up almost 9% after going to ipo and splitting. other things going on this market -- the two year yield is off its highs but still at 409. a massive repricing and treasuries. fx is a little weight on the dollar index. the kbw banking index is up but the rest are all lower. we will keep an eye on the regional banks. we earlier spoke with vince reinhardt on whether it was appropriate for the federal reserve to err on the side of over tightening were under tightening. >> i wouldn't characterizing it work -- as under or over. i think it's appropriate now, they move gradually and be willing to stop if some of that incremental evidence suggests the economy is turning. that's what they seem to be willing to do. vonnie: we are hearing from boston fed president susan collins who is giving a speech at the national association for bu

vonnie: thank you for that. u.s.ee the extradition on fraud charges of do kwon after his arrest in montenegro. he helped create a terra stablecoin which cause a cryptocurrency implosion. i reporter as been following the story from the very beginning. it has been a long hunt. we are is kwon now, and what is to come? >> just a few hours ago kwon behind the crypto currency collapse of $40 billion was found and arrested in montenegro , and he is now being detained there with his close aide. he has been caught while trying to fly to dubai using falsified costa rican documents and he was also carrying documents from belgium and south korean traveling documents. enforcement agencies seized some of his laptops and cell phones, so they are going to see for evidence as well. he has been on the run basically, nt has said that he is not, but he has been on the run for the last 11 months or so ever since his cryptocurrency collapsed in may of last year. haidi: there is a bit of confusion ongoing in terms of who requested his requ

vonnie: thank you.brian armstrong says he welcomes the sec's plan to take enforcement action or to at least notify the coinbase exchange that it plans to take enforcement action. let's get more from annabelle droulers. what are the details? annabelle: it is the latest in a long-standing dispute between coinbase and the sec. to give some context around what it means, it is a letter from the sec that it sends to people or firms at the conclusion of investigations, and those can include notice of intent to bring about enforcement action. what going voice -- what coinbase has received his intent to sue from the sec. coinbase has filed its own form to the sec, because it is compulsory to notify shareholders of major events that can affect the stock price. it says potential enforcement actions could cover parts of his -- its exchange as well as coinbase prime and coinbase wallet. what is at issue is whether these are securities. coinbase has maintained the tokens listed on its exchange are not securities and

vonnie: thank you.ll street traders bracing for the unusually unnerving fed decision and they got a double dose of stress. it's quite the round-trip today. how are markets sizing up the ongoing bank turmoil plus another interest rate increase? >> it was another volatile day and janet yellen's comments did not help the stock market. around 3 p.m. when jay powell was talking and i think most traders were watching jay powell's speech, janet yellen said they are not going to be increasing deposit insurance and that's when you saw the s&p 500 fall further. it had rallied a little bit after the initial 25 basis point decision. and we also saw bank stocks, the s&p regional bank etf falling 6% after the janet yellen comments. then throughout jay powell's meaning, he was talking about how they are not planning a rate cut. a lot of traders i spoke to said it was both janet yellen and jay powell. bonds are in their own world pricing more cuts, years -- yields falling even though jay powell said we are not going to

i am vonnie quinn. this is bloomberg. >> up next, saira ann malik shares her expectations. this is bloomberg. ♪ go. go air that runs factory. go sensors and software. go find leaks. go fix-em. emerson technology detects compressed air leaks to save manufacturers, like colgate, over 20% in energy costs. go brush your teeth. go boldly. emerson. >> our next guest says she is playing offense when it comes to emerging markets. joining us now is saira ann malik, ceo at nuveen. good to have you with us. we have seen uncertainty about where emerging markets are going. >> we like emerging markets for earnings estimates, valuations. earnings estimates much more realistic. monetary policy, in many of these markets they are far more ahead of the curve. china is easing, korea is. we also have indonesia, another country with stable growth. india have benefited when china was struggling. >> a lot of these economies you mentioned are trade reliant and we saw exports slump when it came to south korea, especially in the

it's good to vonnie quinn. -- let's get to vonnie quinn. vonnie: the peg on says a russian fighter jet collided with a u.s. drone. the kremlin denies the claims are the state department says the collision was a brazen violation of international law. meta is planning to cut 10,000 jobs. the facebook parent has been marking 2023 as a year of efficiency. a slowdown in advertising revenue led to its first sales decline in 2022. it already laid off 11,000 workers in november. credit suisse ceo is pleading for patients as he tries to turn the bank around with a radical overhaul. he is telling bloomberg exclusively -- he says they are also seeing an overall slowdown in outflows but that progress will take years and not months. >> they have significantly moderated. we gave an update on february 9 in terms of where we are. we'll give the next update with the first quarter results. this is also very clear. we talked about what has happened in the fourth quarter. we are fully focused on it. turn it around but that takes longer than two months. vonnie:

let's get to vonnie quinn. vonnie: the biden administration acerta be close to competing an executive order. sources tell us restrictions include advanced technologies that could enhance china's military and intelligence capabilities. we learned president biden is preparing to request funding for it in his fiscal 2024 budget. japan is reportedly planning to lift restrictions on experts of -- on exports of electronic components to south korea. what needs to process the move is part of a deal to withdraw a complaint for the w.t.o. over a trade dispute. the wto agreed in 2022 mediator the two countries' spats over japanese curbs on chemicals used to manufacture smartphone displays, tv screens, and semiconductors. saudi arabia has raised prices for crude shipments to asia and europe as it anticipates demand picking up. state-controlled saudi aramco increased more prices for asia in april, with its main arab brand at $2.50 a barrel above the original benchmark. those for northwest europe and the mediterranean jumped

i am vonnie quinn.dimir putin has welcomed china's xi jinping to moscow for three days of talks aimed at boosting the relationship and allowing the chinese president to present his ukraine peace plan. a reporter is in hong kong. what are we hearing so far? + they have had their first round of talks. there will be a couple of more days obviously. he has really been about pleasantries among the two gentlemen, saying there goals are in alignment. you can have a little bit of a take away from xi jinping's comments. he did not double down on his no limits partnership. but again, no relationship has no limits. the two gentlemen in the face of increased united states pressure and from the allies. and a word that has been going on for more than a year or trying to show some kind of solidarity. but xi jinping trying to portray himself as a global statesman in trying to broker a peace deal or perhaps a cease-fire in ukraine. in the comments before the cameras, president xi did not even mention the war. state medi

i am vonnie quinn. this is bloomberg.aidi: still ahead, as the dust settles on the mixed earnings season in australia, the results show signs of a downturn. we will give some key takeaways later this hour. but first, more analysis on the national people's congress, from year loss school -- from yield law school. this is bloomberg. haidi: you're watching "daybreak: australia." taking a look at the week ahead. boj governor haruhiko kuroda will oversee his last policy meeting on friday the. bank is expected to keep its stance unchanged. but before that on tuesday, fed chair jay powell gives his semiannual report to congress. is expected to highlight progress in slowing inflation without a huge job losses were laying the groundwork for higher interest rates. on thursday, president biden will release his 2024 budget request, outlining his top spending priorities, including --. in the rbi is a cricketer race interest rates a tent -- and the rba is expected to raise interest rates attempt time on tuesday. . we will also be watch

i'm vonnie quinn. this is bloomberg. david. david: just ahead, we will get more on the bank of japan with the former member of its policy, joining us, takahide kiuchi, coming through in 22 minutes. also coming up, we are joined by the dean of the wharton school of business, erika hayes james. we get her thoughts on global economic prospects. keep it here. you're watching bloomberg. ♪ the first time you connected your website and your store was also the first time you realized... we can do anything. cheesecake cookies? [together] the chookie! manage all your sales from one place with a partner that always puts you first. godaddy. tools and support for every small business first. david: index projections out of morgan stanley. various equity benchmarks, still with us on set, jonathan gardner, chief strategist at morgan stanley. we were talking through the break, underweight u.s., overweight part of the world. help us understand the broad thinking. jonathan: it is diversion economic parts, particularly out of china, but als

let's get to vonnie quinn with first word headlines. vonnie: the u.s.'greed to deposit $30 billion in an effort to stem the turmoil that sent depositors fleeing. jp morgan, bank of america, citigroup and wells fargo each contributing $5 billion of uninsured deposits. goldman sachs and morgan stanley will chip in $2.5 billion apiece. of the will also deposit smaller amounts. -- other banks will also deposit smaller amounts. bloomberg sources say ubs is reluctant to take on the risks related to its smaller rival and that credit suisse executives are focusing on turning the bank around. jp morgan analysts say the crisis at credit suisse will most likely end in a takeover. the ecb has gone ahead with a plan for a half-point rate hike. officials lifted the rate to 3% is expected, though there was no language in the statement about where borrowing costs are headed. it comes days after the market turmoil that rattled credit suisse, which raised questions about the health of the wider banking industry. >> the elevated level of uncertainty reinforces the importan

let's get you to vonnie quinn. vonnie: joe biden has unveiled a $6.9 trillion budget proposal setting the stage for high-stakes negotiations with congressional republicans over the debt ceiling and government funding. it includes extending the solvency of medicare, lowering prescription drug costs and cutting the deficit by $3 trillion over the next decade. it is certain to be rejected by the republican-controlled house. the u.s. is stepping up its chips collaboration with india as it seeks a bigger control of the supply chain. gina raimondo has traveled to india. they will discuss ways to avoid over subsidization. india has offered $10 billion in incentives. the only goldman sachs banker tried and convicted in the 1mdb scandal has been sentenced to 10 years in. he was convicted last april of conspiring to violate u.s. antibribery laws and laundering money. global news powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: let's look at the australian t

let's get you to vonnie quinn. vonnie: u.s. officials are reportedly set to loosen covid restrictions on travel from china. authorities have been assured by recent decline in deaths and china. the white house has endorsed a bipartisan bill that could give president biden authority to ban or force the sale of tiktok. you could hasten the bill's and break the deadlock. the bill doesn't specifically mention tiktok, but it would allow the president to force a sale of a tech platform on national security grounds. >> we lack holistic interagency approach. instead of playing whack-a-mole on huawei one day, then tiktok, we need more copperheads of approach to evaluating and mitigating these threats posed by these foreign technologies by adversarial nations. vonnie: bloomberg sources say germany will probably prohibit some components made by huawei. the u.s., u.k., and eu have become increasingly focused on security risks posed by chinese -- chinese firms. global news powered by more than 2700 journalists and analysts in over 120 countr

i'm vonnie quinn. this is bloomberg. haidi: the lithium minor jumping after rejecting the proposal -- we are seeing a rally of about 53%, highest price on record after they rejected the unsolicited offer. that would have valued lion town at a 64% premium to the last close. we did hear lion town responded and said it was and undervalued offer it has received and has been rejected. kathleen: still ahead, japan's prime minister pushes for a baby-boom of almost one third of its population now aged 65 or above. details about his plan later this hour. coming up next, evanson partner tells us why it's time to be cautious with u.s. equities with the opportunity of holding cash a lot lower. analysis in just a moment. this is bloomberg. ♪ >> our view is there's probably going to be more cost in that space because how investment was so egregious and the over earning was even worse. it is going to be a drip, drip, drip. our suspicion is markets tend to figure this out ahead of the actual monday -- actual numbers coming down and beca

that's get to vonnie quinn for the first word headlines. vonnie: top u.s.lining what is likely to be the biggest overhaul in banking regulations in years. the fed vice chair for supervision says the rules will indicate higher capital and liquidity requirements for institutions with assets north of $100 million. prior to the collapse, republican lawmakers had opposed to tougher standards for lenders. seamless fed president jim bullard it's as regular tory policy rather than interest rates can contain fallout from the banking sector turmoil. excuse me. in an essay posted on the banks website, financial stress has been on the rise in the wake of recent bank failures. he says the policy response to these events has been swift and appropriate. goldman sachs is shaking up the leadership ranks at the heart of its capital markets business in this follows an overhaul in october that merged investment banking and trading operations. an internal memo says michael marsh becomes head of the africa financing group. three partners in the investment bank are said to be lea

i am vonnie quinn. this is bloomberg. >> the latest on the feds tough call on this pause as bill dudley joins us and tells us cutesy is likely to continue despite the banking sector turmoil. but first we will be talking market strategy with the financial and market upheaval here. this is bloomberg. his >> we have a self-induced crisis. >> very different than the situation we saw back in 2008. >> we think this is closer to the beginning and the end. >> we need to see some backstops in place in the weeks ahead. >> we are seeing more regulation in banks more -- both midsized and large. >> we need more supervision. not necessarily regulation. twice we are facing big fed meetings. we are still discussing if they are going to do 25 or not. >> there is an opportunity there for the fed to step in and really add a bit of confidence to the situation. jp morgan chase strategists are warning a mix of bank failures, market turmoil and economic uncertainty as central bank continue the fight against inflation have inc

vonnie: i'm vonnie quinn with the first word headlines. fbi see is investigating the conduct of managers at svb and signature bank to determine what led to those banks collapse. martin bloomberg told the senate committee parties will be held accountable. the fed vice chair called the failure a result of a textbook case of mismanagement. the cftc has accused bytedance and its ceo of thinking derivatives rules as the firm grew to be though largest crypto trading platform. their own emails and chat messages show its compliance efforts have been a sham. the suit filed in federal court in chicago is the most forceful u.s. move yet to crack down on the crypto exchange. the chairman of barclays has described the recent allegations of jes staley with his relationship with jeffrey obscene serious and new. it's the first update since ceo left the bank in 2021. he quit after regulars found he underplayed his relationship with the pedophile financier. he's challenging those findings. global news powered by more than 2700 journalists and analysts. kath

vonnie quinn has a first word news. vonnie: thank you.me minister kishida has made his first visit to kyiv since russia's invasion. he offered support to ukraine and invited linsky --zelinski to join the summit in may. kishida made a trip to new delhi to pressure the prime minister to join other leaders in shunning russia over its invasion. japan is set to host the g7 summit in hiroshima. the imf has reached a level agreement for $15.6 billion loan for ukraine, to promote the economic recovery and pave the way ford's entry into the european union -- for entry into the european union. the executive board is set to tackle the matter in the coming weeks. the biden administration set to unveil tight restrictions on the chinese operations of chipmakers that get federal funding. sources tell bloomberg the commerce department will outline the new curves as it disburses funds under the $50 billion chips and signs act. they include a one hundred thousand dollars spending cap on investments in advanced -- cap on investments in advanced capacity. si

let's get to vonnie quinn. vonnie: thank you.l of readings has been more accurate at predicting price pressures during the pandemic than the various alternatives. the fed cast estimates of inflation measures updated each business days including projections for headline and core measures for the cpi and price index for personal consumption's managers. xi jinping is rallying china's private sector to overcome economic challenges by the u.s. xi spoke with suppression, of western countries led by the u.s. he went on to urge local companies to strengthen innovation and play a bigger role in establishing technology independence. the world's biggest provider of liquefied natural gas says china may take flows away from europe as the economy reopens. its chief commercial officer told bloomberg china will no longer act as a relief well sending out supplies to europe. they say the company engages with partners of the world's second-largest economy. >> we. are always talking to chinawe have a number of long-term transactions with the chinese

i'm vonnie quinn. this is bloomberg. the australian premise minister is in san diego ahead of the landmark announcement on the supply of nuclear submarines. more details about these nuclear submarines have been detailed ahead of the announcement. this was hugely contentious. we have gotten some more details. >> at this rate, there will be nothing left for them to announce by the time this is announced tomorrow. i truly is likely to get to the five second hand virginia class a brains from the united states. the u.s. is assuring they will not be clunkers. the prices yet to be determined. that is a stopgap to fill the capability gap from retiring australia's old submarines. after that, us trillion will get new virginia class a brains as the new class being designed with britain gets worked out and those will arrive in 2040. questions around this which we might hear more about tomorrow. u.s. shipyards already struggling to keep up with the current amounts. in terms of manufacturing infrastructure, how they are going to make

i am vonnie quinn. this is bloomberg. >> still ahead, more on the growing geopolitical tensions over it the taiwanese president's visit to the u.s. we will speak with the austrian former ambassador to china to talk about what is at stake in what we could see from beijing in response. first, baltic capital markets -- bullock capital markets tells us why in just a moment. this is bloomberg. ♪ >> take a look at the first 15 minutes or so of trading in sydney. set for a pretty robust day with future stuff like this and a strong return of risk sentiment in the u.s. session, watching protects tax in particular -- tech stocks in particular. the asx up 0.90%. every segment in the green. it is information technology leading, up 1.3%. materials performing strongly. energy out of financials as well. this, as we anticipate a pause from the rba after the softer than expected inflation print. we are watching for, pale and jobless numbers -- for retail and jobless numbers today to give us a better idea of how we are s

let's get you to vonnie quinn with the first word headlines. vonnie: the u.s. will sell up to five nuclear powered some rings to australia at a deal aimed at limiting china's power in the sea. they met in san diego. australia and the u.k. will build a next generation some rain together. the project is expected to take two decades. ed: australia -- >> us truly is a proud state. these boats will not have nuclear weapons of any kind. each of us standing here today are present in the united states, australia and great britain is deeply committed to strengthening the nuclear nonproliferation regime. vonnie: chinese president xi jinping and valletta mayors linsky are planning a video call and what would be their first conversation since russia's invasion of ukraine. no date has been set for the meeting. wall street journal says it could come after xi jinping visits moscow. meanwhile, president ayden plans a phone call with xi jinping once the government returns to work following the nbc. jake sullivan declined to give an exact data. china's annual meeting of lawmaker

let's get to vonnie quinn with the first word headlines. vonnie: u.s.ors have moved to protect depositors' fans following the collapse of silicon valley bank. janet yellen says the new financial backstop will protect all depositors and they will have access to their money starting monday. and the fed is creating a new program that offers loans to banks under easier terms than. . typically provided the biden administration is said to be preparing more restrictions on exports of chipmaking gear to china. the administration has briefed local companies that new rules may be announced next month. the plan may double the amount of machines that need licenses before shipment, is part of an ongoing effort by washington to hamper beijing's development of an advanced semiconductor industry. india's government has proposed legalization of same-sex marriage. in its court filing, the more the administration has said marriage is expected only between a man and woman, and that any deviation can only be voted on by lawmakers, not ruled by courts. the outcome of the cas

let's get to vonnie quinn with the first word headlines. vonnie: thank you.es is talking to allies about possible new sanctions on china. if beijing provides military support to the war in ukraine. writers saying the early-stage consultations are seeking support from a range of countries including those in the g7. the biden administration has sanctioned several chinese companies it accuses of aiding the russian military. antony blinken says he has no plans to meet with diplomats from russia and china at the gathering of g20 foreign ministers. vladimir putin shows no interest in negotiations over ukraine. lincoln added that beijing's support undermines the legitimacy of its recent proposal to end the war. a major rebound underway at bridgewater associates. five months after dalio stepped down, it's capping the size of its flagship funds, pouring money into an -- artificial intelligence and machine learning. the ceo told bloomberg the $138 billion hedge fund must evolve or die. a chinese banker has been detained since february. the wall street journal says they

i am vonnie quinn this is bloomberg. yvonne: still ahead of "bloomberg markets: asia," our next guest will discuss the impact of recent market turmoil on hong kong's etf markets. david: there she is. and ahead of that, a breakdown of the most striking claims in the u.s. government's lawsuit against binance. these allegations sending fresh shockwaves across the global crypto space command cole comstock. this is bloomberg. -- all coming up. this is bloomberg. go. go green. go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed, to technology that makes clean energy reliable, emerson innovation helps make the world healthier, safer, smarter and more sustainable. go boldly. emerson. yvonne: here is how hong kong and china are looking. pretty slow going. quiet day in the markets. know bad news is good news for these markets. we are taking a breat

i am vonnie quinn.bloomberg. >> let's look at the crypto movers so far. >> yeah, taking a look at these given the headlines that dropped around silver gate earlier, winding down and the quit dating its banking, bank rather, by that is significant is because this seen as a key conduit between the fiat world and crypto players so it will have ramifications for crypto exchange is. let's look at some of the biggest crypto-blanked stocks in asia. next at the start of the trading social. the msci index moving to the upper side -- upside. silver gate slumping in after hours trade. another sector were focusing on is shares of asian construction and mining equipment maker's. -- equipment makers. caterpillar saint strong demand is assigned -- saying strong demand is assigned that the u.s. can avert a recession and that north america is one of its best markets for heavy machinery, excavators, according to its cfo. komatsu generating 40% of revenue from the americas and 20% for hitachi construction. >> a look at so

not in vonnie quinn. this is bloomberg. -- i am vonnie quinn. this is bloomberg. haslinda: china warns of damage to relations as the taiwanese president arrives in new york. we will get more on the potential follow-up later this hour. rishaad: plus, agreeing to a second stent at ubs, following the emergency takeover credit suisse. we will have the challenges heat is facing and that he is facing and -- that he is facing and we will go to the boao forum. we heard from the singaporean prime minister earlier. that was after the new premier of china it gave his opening speech there as well. this is bloomberg. ♪ the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a br

let's get the first word news with vonnie quinn. vonnie: thank you.discussed the u.s. banking crisis with the biden administration. they talked about buffett possibly investing in the sector. the berkshire hathaway ceo gave advice and guidance on the issue. buffett has a history of helping troublesome banks. the fdic is said to be moving towards breaking up silicon valley bank after failing to find a buyer. they want to sell the failed lender in two parts. the fdic is taking bids until friday for the bridge bank it set up to take on svb's assets and liabilities. colony capital founder tom barrack is taking a lead role in saving first republic bank. barrack will be working closely with executive chairman jim herbert to orchestrate a potential deal. a $30 billion package last week failed to assuage investor consents. the subsidiary new york bancorp has agreed to acquire the failed u.s. lender signature bank. the fdic says the buying will take over old deposits uncertain loan deposits from signature. u.s. prosecutors were investigating signature bank's w

i am vonnie quinn and this is bloomberg.ing back to over top story, svb and its stunning collapse. also looking at the joint venture in china as it is distancing itself from the collapse, saying that it operates separately from its parent. our guest joins us no. how much of a risk is there for asian banks given the followed, because they had customers globally? guest: banks in the region, especially in the region we are covering, as far as what we have known from the latest quarterly results, very minimal market losses from treasury holdings either from the domestic market or the u.s. treasury. honestly all of these banks are complying with the global standards in terms of liquidity, coverage, stable funding. much of their deposit base has been emerging from the domestic market either from domestic corporate, and retail customers. for the chance of the bank filing, and don't see it -- haslinda: what metrics should invest as much four, francis? francis: a few things investors can look out for, liquidity coverage ratio, stable

avalarahhh ahhh ahhh ahhh vonnie: this is daybreak: asia.mf has reached a staff level agreement for a $15.6 billion loan for ukraine. it is aimed at helping promote ukraine's long-term economic recovery and pave the way for its entry into the european union. the loan is still subject to approval by the executive board. the swiss government is temporarily suspending certain forms of bonus pay for credit suisse employees. authorities said they are invoking the swiss banking act which allows it to impose pay related measures if a systemically important bank is granted state aid credit suisse had already decided not to award bonuses to executive board members for 2022. the u.s. is reviewing whether the impact of silicon valley bank's collapse on chinese startups may have been greater than publicly disclosed. the bite in the is pulling data on chinese companies that may have had accounts with the u.s. banks. the u.s. wants to know if there is a risk of butter contagion in china. washer has decided to keep its oil production at a reduced level thr

i am vonnie quinn. this bloomberg. haslinda: vonnie, let's talk crude.back after touching three-month lows as the collapse of svb bank ripples across markets. for more on the demand outlook, let's bring in a reporter. elizabeth, what is moving oil today? >> so let me start off by saying oil markets have been very choppy this year. it has been months of sanctions on version crude, and from what we can see, russian crude flows into the market, alleviating some of the biggest fears last year which was a major disruption of oil supplies because of the russia-ukraine more. since then, oil markets have been searching for direction since what we saw quite a dip from the svb bank precious today and oil, but markets are backup -- in oil, but markets are back appeared the key themes dominating markets or concerns over aggressive monetary policy from the fed, as well as optimism over china's demand recovery, and oil has been hanging in the tension between sectors with brent moving conservatively, less than $10 a barrel this year, which is a different scenario from

this is vonnie quinn.th korea's financial watchdog says the slope and property market may lead to defaults on project financing loans. he told us exclusively that authorities have assessed some 5000 projects relying on these loans after developer defaults last year triggered an unexpected credit crunch. >> we reviewed all project finance, 5000 of them. some of them might fail eventually, but we are trying to spread out all of these events. i do not think we will see any severe damage on the macroeconomic side. rishaad: we had central banks around the world lifting up interest rates trying to fight inflation as well. what is the state of korea's credit markets? >> we survived the legoland event starting from october. we executed this market stabilization measures and succeeded in stabilizing the bond market out of it. after experiencing a bat incident, myself and my colleagues, including the finance minister, the head of the bank of korea, we are quite certain we are back out of the previous event. i do not

i am vonnie quinn.>> india's latest in gdp numbers showing economic growth slower than expected. the executive director joins us to outline the challenges ahead. >> government sex executives hinting at further dismantling of the troubled consumer business. all of that is coming up just ahead. music we all have a purpose in life - a “why.” no matter your purpose, at pnc private bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? >> i think of the new government coming in because both of them work in the local government. they did not work in the central government side. they may need some time to figure out how to run this. crux we are having a look at that mpc. stephen egle is the chief north asian correspondent. you can argue they made a couple in the past few years. that is a recovery story opening up from covid zero. those of the crackdowns i talked about, restoring confidence. he has consolidated his mandate. there is n

let's get the first word news with vonnie quinn in new york. vonnie: the u.s.'eed to deposit $30 billion to first republic bank in an effort to stem the turmoil that sent depositors fleeing. jp morgan, bank of america, and citigroup, and wells fargo are each contributing $5 billion of uninsured deposits. goldman sachs and morgan stanley will chip in $2.5 billion a piece and other banks will also deposit smaller amounts. the ecb has gone ahead with a planned half-point rate hike but offered few clues on its next move. officials lifted the move to 3% as expected, though there were no language changes in their statement about where borrowing costs are headed. this comes a day after the market turmoil over credit suisse. >> the elevated level of uncertainty reinforces the importance of a data-dependent approach to our policy rate decisions, which will be determined by our assessment of the inflation outlook in light of the incoming economic and financial data. the dynamics of underlying inflation. and the strength of monetary policy transmission. vonnie: ubs and cre

i'm vonnie quinn. this is bloomberg. haidi: coming up, pimco joins us to review the inflation numbers. the fed gets squeezed between price pressures and the banking sector. this is bloomberg. ♪ >> the data still pointing towards inflationary pressures. >> inflation data is strong enough to have a hike next week. >> they will have to pivot towards maintaining financial stability. >> financial stability trumps inflation in the short run. >> maximum stability ensures it will not be 50 for sure. >> they wanted to 25. >> for them to not to 25 will be construed as tempting. >> if they had a pause in march, they could do that. >> if the markets are in distress, pausing is ok. >> it would not be an indictment of the tools they put in place. >> the ring fencing works. the fed goes back to hiking interest rates. >> this is a fed that will keep raising interest rates, until you see signs that inflation is slowing. shery: tv guests on the inflation data coming out of the u.s. our next guest says the turmoil around silicon valley ban

i'm vonnie quinn. this is bloomberg. shery: next, amp says while bank failures so far do not look like a rerun of the global financial crisis, they do reflect contagion risks. ahead of investment strategy shane oliver joins us next. this is bloomberg. ♪ >> the liquidity outflows, market volatility, shows that it was no longer possible to restore the necessary confidence, and the swift and stabilizing solution was absolutely necessary. this solution is a takeover of credit suisse by ubs. >> ubs intends to downsize credit suisse's investment banking business aligned with our conservative risk culture. >> this was not the best solution but it dominated the other two, trying to wind down the bank. but it is full of contradictions. haidi: some commentary from bloomberg tv guests on the ubs credit suisse takeover. let's bring in shane oliver, head of investment strategy at amp. just want to get your initial reaction to this news as asian markets wake up. does this fix things from a crisis of confidence, from a market sentiment

i am vonnie quinn. this is bloomberg. still ahead, mahendra holidays at a resource will be sharing his latest on tourism recovery and the outlook for the hospitality business. our exclusive interview with the ceo later this hour. adani has deployed more than $1 billion of creative debt refinancing, but they cannot make sense of the math. keep it here with us. this is bloomberg. ♪ ever to■ get your projects done right. inside, outside, big or small, angi helps you find the right so for whatever you need done. with angi, you can connect with and see ratings and reviews. just search or scroll to see upf on hundreds of projects. and when you book and pay throug you're covered by our happiness it's easy to make your home an a check out angi.com today. angi... and done. haslinda: the bloomberg dollar index just had lower. -- tad lower. looking at the aussie dollar pretty much unchanged. the yen coming up tad lower than its american counterparts. the yen strengthening against other asian currencies. modest growth targets in chin

i'm vonnie quinn. this is bloomberg.ahead we will have immediate reaction to the rba's expected rate hike do at the bottom of the hour. rishaad: plus we get w on what investors will be waiting for when jerome powell speaks before committees in washington this week. this is bloomberg. ♪ >> a mild recession as possible. a harder recession as possible. there is a good chance inflation will come down, but not enough by the fourth quarter and the fed will have to do more. bigger trends are inflationary. haslinda: that was jp morgan ceo jamie dimon speaking exclusively to bloomberg. let's bring in our guest robert hoffman, head of investment counsel for south asia at citi private bank. that was your old boss, i believe. all eyes on powell and what he says. i think he is unlikely to say anything. the messaging has been the same time and time again, higher for longer. robert: this week he will speak but before the jobs released friday so it is unlikely he will go out on a limb to say anything that would change markets. could be

i am vonnie quinn. this is bloomberg.lushing warnings, even with the market meltdown showing signs of abating. several bank hawks from washington to brussels saying the same thing. inflation and further rate rises. the next -- the latest policy outlooks, next. this is bloomberg. ♪ rishaad: markets are on an upswing in a moment. tech leaving the chinese benchmarks. the tough a look at the guiding factors around the market zeitgeist. they are essentially sending the same message. that is that inflation remains far too hot. more interest rate hikes are needed to still cool it down. kathleen hays is with us. another round of fed speak, higher rates then inspected -- expect did. >> fed officials say they think we might have to do a couple more rate hikes. the taste that way, we might have to do more than that. let's start with the fed reserve governor. he said, if we see these hot numbers cooling off, a couple more rate hikes and we could be ready to call it quit for a while. on the other hand if the policy rates come into hot

i appreciate you raising these points by vonnie. go ahead. well look, i mean end of the day i think we need to be very mindful of what's happening on the ground. the crises such that as you mentioned, the figures are there that people are suffering days or so this warri while the government is now saying yes, d i m f package. i mean the narrative that he's being created that's, that's important. we have to go through this but days a very, very fundamental problem here, when the government is doing everything possible to undermine democratic processes . hutcher is the whole issue of the postponement, our local government election, so that that's a fundamental element in democracy when a government is undermining that in the name off and economic crises that they're bankrupt, that's very, very worried. we need to unpack bed, but the other point i think is very important, is the repression. today we had protests in colombo were seen pretty every day. that's a sign of unhappiness from people. but the force that is being used on people is also ext

i appreciate you raising these points by vonnie. go ahead. well look, i mean end of the day i think we need to be very mindful of what's happening on the ground. the crisis is such that as you mentioned, the figures that, that the people are suffering days. all of these worry while the government is now saying yes, the i m f package, i mean the narrative that is being created that's, that's important. we have to go through this but days of very, very fundamental problem here. when the government, he's doing everything possible to undermine democratic processes, how should raise the whole issue of the postponement or local government in action . so that's the fundamental, eliminating democracy when a govern, mondays, undermining that in the name off, and economy crises that their brand credit. that's very, very worried. we need one pag bed, but the other point i think is really important is the repression. today we had protests in colombo were seen protests every day. that's a sign of unhappiness from people, but the force that is being used o

vonnie: this is bloomberg markets. ♪ vonnie: let's take a quick look at the markets.rally with the s&p 500 up a quarter of 1% but the nasdaq is up most 22% from its december 28 lows so it's firmly into bull market territory. jd.com is up

i'm vonnie quinn. this is bloomberg. ♪ haidi? >> coming up -- more on the aftermath of svb's collapse. ♪ plus more details on the multibillion-dollar plan for austerlitz to get nuclear powered submarines in a bid to blunt china's assertiveness in the pacific. we get the latest, next. this is bloomberg. ♪ was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh >> the market is telling the fed to be done. >> it's too soon to make a call on the fed being done. >> what happens in march, i don't know. >> is not going to be 50 basis points. we are back to 25 basis points. >> we are pricing zero versus 25 basis points. >> what i'm concerned about is whether we

i'm vonnie quinn. this is bloomberg. ♪ >> taiwan's president tsai ing-weng has landed in new york.ls have tried to play down the trip with china saying it would further damage ties between washington and beijing. let's bring in cindy wang, joining us from new york. you are covering this trip. what do you know about tsai's agenda in the u.s.? >> tsai ing-weng landed in the u.s. about an hour ago. tsai will show up in her first public event on u.s. soil, that is a dinner bank with the tony's in new york -- the taiwanese and new york. so far, her office has kept the names, the details very secretive. the reason why tsai's office has to be so low-key about the trip is they don't have official ties in taiwan. this is an official visit of the taiwanese president. china has already warned that if thailand has a meeting with u.s. house speaker kevin mccarthy, that would be a serious provocation and china would definitely take measures to respond to that. that is something we will keep a close eye on in the following days during her trip in the u.s. and central america. >> in terms of busin

i'm vonnie quinn. this is bloomberg.ill have this hour, national payments company of india joins us to shed the latest on contact. developments in digital payment markets. rishaad: plus, more on the fallout silicon valley bank as we take a look at the total exposure of exchange-rate funds to the collapse of the bank that focused on tech. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh rishaad: looking at the benchmark for asia. i can tell you so far this year, the industry the drag is coming from every industry group. asia-pacific real estate is flat. stocks are pulling this index down to raise the gains for 2023. haslinda: negative sentiment in the market. the index has given up gains for the year. the only shelter we see for the bond market. >> panic has over

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