let's get the first word news with vonnie quinn in new york. vonnie: janet yellen has taken to the u.s. capitol to down wrist -- downplay inflation risk despite the relief program. she told abc it was manageable with temporary movement in prices. a survey of economists sees the fed hiking rates in 2023, though they don't expect that reflected this week. australia is pulling grain demand in china by targeting saudi arabia. australian exports have broken into the saudi market and orders will rise for several months. australian grain suppliers seem likely to provide the bulk of the 660 thousand tons of orders this year, pushing out regular clients from the eu and the black sea region. astrazeneca insists its vaccine is safe despite more countries banning the shot on fears of blood clotting and adverse reactions. the company says careful review of the data shows no evidence of increased risk of pulmonary embolism or clotting, but at least 13 countries have halted vaccinations. 17 million people have been given the astro jab in europe. sydney is repo

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

let's have a look at what might be happening in 2024 as we get over to new york and join vonnie quinn for the latest first word news. vonnie: former president trump has been teasing the idea of a white house run in 2024, but is rooting out starting a new party. he told the third party was just fake news and it would simply mean dividing right-leaning voters. trump repeated that he won last november's election and hinted at another run. >> i am not starting a new party. that was fake news. fake news. no. wouldn't that be brilliant? let's start a new party. let's divide our vote so that you can never win. vonnie: top russian critic alexei navalny has been moved from moscow to a penal camp that is said to be feared by even its own inmates. he was detained last month, accused of violating parole in 2014, and is now reported to be in a prison about 100 kilometers east of the russian capital. former inmates say prisoners are subject to constant intimidation and isolation. chinese super league champion is being -- owners say they want to focus on their core retail business. they won the club

let's get you to vonnie quinn for first word headlines. vonnie: chancellor angela merkel is threatening to exert federal control over pandemic measures after a surge in infections. she -- she says tighter contact restrictions are needed after more than 20,000 new cases were reported on saturday. trying to free a massive container ship are digging up parts of the suez canal bank to loosen it. the next 24 hours will be crucial. an advisor says by tuesday, they may start offloading containers. more than 450 ships have backed up as the economic told grows. more than 100 10 protesters killed in myanmar in the deadliest clashes with the military since february. armed forces day in the capital was marked with a parade. the dead include several children. sparse condemnation from -- has sparked condemnation around the world. 14 people were killed after a suspected suicide bombing at a catholic church in indonesia. it happened on sunday morning just as palm sunday mass finish. two people attempted to enter the churchyard but were stopped by security.

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

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

that story and the rest of the first word news now with vonnie quinn in new york. vonnie: the european union escalating the spat with the over vaccine exports. sources in brussels say the bloc has -- and will probably reject astrazeneca until they have fulfilled its obligations to the eu. the u.k. has demanded the eu honor its vaccine contracts with the two sides accusing each other of export curbs and nationalism. scientists tracing the origin of the pandemic believe they have identified a possible source. china's wildlife trade. the findings of experts convened by the w.h.o. and the chinese government are set to be released this week and they are set to show parallels of the 2002 spawning of sars, a coronavirus spread by cats. the report is likely to be far from conclusive and more studies are planned, including outside china. the tokyo olympic games will officially take place without overseas spectators. the decision was announced by the overnighting committee after a meeting saturday that included the ioc and the tokyo government. tickets purchased by foreigners

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

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

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

let's find out the reasons why as we get over to new york and joint vonnie quinn for the first word news. vonnie: yes, that would be saudi arabia saying its export terminal has come under attack, but production appears to be unaffected after a barrage of missiles and drones were intercepted. the energy ministry says there were no injuries or property damage. it is the most serious attack against them since september of 2019. myanmar is plunging further into chaos as protesters defy the army and stage new rallies across the country. security forces fired tear gas and stun grenades, as authorities warned of up to 20 years in prison for dissidents. the u.n. says at least 55 people are known to have been killed in protest since the february 1 coup. the u.s. has reported a full week with fewer than 70,000 daily virus cases, the first time since mid-october. although top disease expert dr. anthony fauci says the number remains high. several states are using restrictions, with restaurants outside new york city to open for outside capacity. there are fears of a new wave of cases. china's leaders

shery: let's now get to vonnie quinn with the first word headlines. vonnie: janet yellen expressing fears that the $1.9 trillion relief package will stoke inflation. treasury yields have soared in recent weeks as investors -- yellen spoke ahead of the house vote on the relief bill. protesters in myanmar defied curfew despite the military's increasingly tough response. u.n. and u.s. have called for security forces to free a group of protesters surrounded in a suburb. unrest continued across the country despite the army warning of jail terms of up to 20 years, shutting down media outlets and denying the right to work. the brazilian riau closed at its lowest in nine months after the former was cleared of corruption in the long-running carwash investigation. the supreme court verdict erases the decision for bribery, property deals and other alleged crimes. he remains the darling of the left and the poor but many on the right say he's a symbol of brazil's economic mismanagement. a court in thailand has denied bail to three pro-democracy leaders accused of d

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

let's get to vonnie quinn with the first word headlines. vonnie: pfizer has begun human trials of a new pill to treat coronavirus. it is meant to be taken early to block the virus from replicating before patients get very sick. pfizer could begin much larger phase two and three trials in the second quarter. and apply for emergency use authorization by the end of the year. astrazeneca wants to update results from its study of the vaccine after efficacy data was criticized by an independent panel. on monday, they said the shot was 79% effective at preventing infections. however, that was based on outdated information which gave an incomplete view of its effectiveness. astrazeneca says it will release up-to-date efficacy data and the next 48 hours. level vaccine shipments from the e.u. could be severely disrupted as the block prepares to tighten export rules. under a new plan to be revealed wednesday, the e.u. will have more power to stop manufacturers sending shots abroad to guarantee its own vaccine supplies. it is as collating tensions in th

i am vonnie quinn. bloomberg. >> sticking with the virus, vaccine tensions are boiling over in europe, amid deepening post-brexit spats between the eu and u.k. danny astrazeneca vaccines and ingredients to the u.k. until the drugmaker fulfills delivery obligations. we have seen this escalating tussle over vaccine supplies, over the astra shot, what is the latest that has developed? >> just what you said, and officials told bloomberg today it would not be inclined to permit shipments of the vaccine or vaccine supplied to the u.k., until astrazeneca, which has cut its promises to the eu, basically in half, for the first quarter, you know, makes good on its obligations. this comes against a backdrop of really, you know, pretty serious problems in europe, over vaccinations. i mean germany and france have only vaccinated about 6% of their people. the u.k. and u.s. about 20%. there are far behind, tensions are getting high, people are getting upset, the virus is getting worse, so it is not a great situation r

haidi: let's get you to vonnie quinn with the first word headlines. vonnie: saudi arabia says its oil export terminal has come under attack, but production appears to be under -- unaffected after a barrage of missiles was intercepted. the energy ministry says there is no injuries or property damage. the attack is reported to be the most serious since to oil fields came under fire in september, 2019. the u.s. b-52 bomber is over the middle east and what is seen as the latest warning to iran. accompanied by aircraft from israel and side arabia and qatar with the second deployment under president biden of the force this year. flight tracking data show the bombers flew from north dakota though that has not been confirmed by the pentagon. myanmar is plunging further into chaos, protesters staged new rallies across the country. witnesses say in yangon security forces fired tear gas and stun guns and gave 20 years in prison for dissidents. 52 people of a known to be killed in protest since february. reports from thailand say the government is starting to rela

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

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

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

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

let's get to vonnie quinn with the first world headlines. c efforts continue to try to dislodge a massive container ship stopped in the suez canal. it is causing a lockdown in one of the world's most crucial waterways. the salvage team -- the suez canal at 20 as not educated would it be resume as --. one/12 of global trade goes to the wireless. hedge vending supplies of covid vaccine. a joint statement came as they tighten curbs on investments outside of europe's bloc. if action in vaccination rates lag. it will be discussed on thursday. the german chancellor made a rare public apology after she was forced to abandon a widely criticized five-day art lockdown over easter. she called the proposal a mistake after a hastily arranged video conference. germany remains under restrictions gradually listen earlier. >> the idea of an eastern lockdown was a mistake. it had its good reasons, but in judge -- in such a short space of time it was not possible to implement well enough made -- enough. vonnie: -- mark zuckerberg supports performing a decades o

i am vonnie quinn.> let's take a look at this comes to asian markets this friday's session. >> we are seeing losses him more than 1% in tokyo, as well as sydney with tech stocks of long -- among the biggest lag. the kospi falling below that 3000 level. we have the yen on slightly firmer footing after reaching 108 and the nikkei headed for a second weekly loss this morning. little relief being provided by the boj governor. he said there will be no hesitation to add easing as needed. the jgb 10-year is staying around 15 basis point levels. we have benchmark rates in asia. higher insult the end of january. we are not seeing intervention from the boj or rba just yet. the yields on the up. switching up, this chart on the terminal focusing on oil. pull up the chart, we haven't topping $64 with opec changing supply curves. warning that by than the alliance made zeroed in part to increase appetite of more barrels as economies recover. over at j.p. morgan, they raise their brent forecast by two dollars. they are

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

let's get the first word news with vonnie quinn. vonnie: u.s.ry of state antony blinken called the country's dealings with china at the defining test of the century. he laid out a broad policy agenda in his first speech. it is a contrast to the policy under president trump. bblinken cited the importance of re-engaging with the rest of the world. he says the u.s. will compete and confront china as needed. sec. blinken: china is the only country with the power to seriously challenge the stable and open international system. vonnie: united kingdom plans to keep big to help the economy through the pandemic. $90 billion worth of aid to help companies and citizens coat. that takes the full fiscal support to about $570 billion. as to who will foot the bill, the plan to hike taxes on individuals and businesses. >> freezing tax thresholds is fair. asking more of those on higher incomes, and we are going to ask large businesses who have made a profit to contribute as well. vonnie: federal reserve said the u.s. economy expanded modestly in the first two mo

let's get over to vonnie quinn. vonnie: the european countries including germany and france will restart using the astrazeneca vaccine after the e.u. drug regulator endorsed as safe. several countries paused inoculations, adding to the hurdles the region phases. the regulator recommends adding a warning over rare places -- rare cases a blood clotting. president joe biden says the u.s. will clinch his goal of administering 100 million covered shots by friday. the u.s. hit the 100 million mark last week with 66 million receiving at least one dose. biden's goal is based on jabs since taking office. >> keep the faith. keep wear your mask. keep washing your hands. and keep socially distancing. we are going to beat this. we are way ahead of schedule. what we have a long way to go. -- but we have a long way to go. vonnie: tokyo's state of emergency is set to end sunday after more than two months. the prime minister's said targets for relieving the strain on the health care system were met. easing restrictions is seen as a g

let's get the first word news with vonnie quinn in new york. vonnie: the world health organization says that astrazeneca vaccine should continue to be administered as benefits outweigh the risks. more than a dozen eu countries paused immunization, but officials say that does not show a connection between blood clots and the vaccine. the european union has threatened to withhold a that -- vaccine exports and less the uk's start shipping shots to the bloc. european union president said she will consider holding supplies to countries that are not reciprocating or already have high vaccination rates. singling out the u.k. as number one importer of the eu shelf. >> all options are on the table. we are in the crisis of the century. i am not ruling out anything for now because we have to make sure that europeans are vaccinated as soon as possible. human lives, civil liberties, and also the prosperity of our economy are dependent on the speed of vaccination on moving forward. vonnie: u.s. secretary of state has criticized north korea for human rights ab

let's get the first word news with vonnie quinn. -- vonnie: a source tells bloomberg chinese authorities are concerned about a tech giants influence over public opinion in china, particularly upset about alibaba's cloud on social media. the u.s. secretary of state and the defense secretary will meet with their japanese counterparts later tuesday as the biden administration works to revitalize relations with key allies in asia. the discussions will center on ways to counter security threats from china and north korea. blinken will head to south korea for similar talks later in the week. president biden has reached out to north korea about the nuclear program, but have not gotten a response. kim jong-un is known to not response for months -- to not respond for months at a time. the u.n. says at least 138 people have been killed in myanmar during the military crackdown on pro-democracy protesters. security forces have extended full martial law to areas after the bloodiest weekend since the february 1 coup. the china embassies were aske

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

i'm vonnie quinn. this is bloomberg. haidi: still ahead, a look at how vaccines are exacerbating inequality in the u.s.. we will speak to the chicago community trust president and ceo for that conversation. we will talk ♪ haidi: see a little right now with our best -- our guest -- our next guest remains constructive on shock -- on stocks. the mainstay capital management founder and chief investment strategist is here. david, always good having you here with us. is this a calculation of we might see steady rises in yields , the chart showing we are already seeing the massive 100. mostly correlated to the 10 year yield in over four years. why would you stay with tech? >> we are not. shery: is at the logic? why would you move to cyclical values and so forth? >> what we have seen is, as the 10 year been rising, especially on the days where the 10 year rises quite a bit, or we have had these spikes of up to 1.7 or higher in the 10 year on those days when we even see it move five or six basis points, we see it in the nasdaq as

for now, let's get over to vonnie quinn. vonnie: brazil has begun an aggressive hiking cycle, raising its key interest rate by 75 basis points to 2.75 percent in its first rate increase since 2015. policy makers to pass the shaky economic recovery. the central bank also signaled another 75 basis point hike in the next meeting. the move makes brazil the first g20 country to tighten policy this year. the world health organization says the astrazeneca vaccine should continue to be administered. reports of blood clots prompted more than a dozen e.u. countries to pause immunization. who officials say preliminary data does not show an association between blood clots in the vaccine. italy and france indicated they will lift suspensions if it is deemed safe. the european union has threatened to withhold vaccine exports to britain unless the u.k. starts shipping shots to the block. the european commission president says she will consider holding supplies to countries that are not reciprocating or already have high vaccination rates, s

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

i am vonnie quinn.his is bloomberg. >> still ahead, we will be speaking to senior migration specialist about the issue facing migrant workers in asia during the pandemic. you will join us later in the hour. the coming up next, we will hear from an economist and former boj assistant to governor ahead of the central bank's policy review. this is bloomberg. ♪ ♪ >> the bank of japan will unveil the results of its biggest policy review since 2016 and a few hours. kathleen hays is stepping by -- standing by. kathleen: thank you, this person was four decades the bank of japan as assistant governor. he has been with the missoula research institute as their executive economist for the last few years. we are happy to have you back. if it were not for the virus, you and i would be standing on the street outside of the bank of japan, talking about this topic, so thank goodness resume and virtual conversations. what do you think the purpose of this policy review is by the boj? 2016 introduced yield curve control. wh

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

in new york we joined vonnie quinn for first word news. : cdc, the head of cdc issued her strongest plea yet for americans who our masks and stick with covid-19 mitigation measures, as cases and deaths rise again. the cdc director says the u.s. does not have the luxury of an action where the seven day is 50,000 up 10%. >> i'm going to reflect on the feeling i have of impending doom. we have so much to look forward to, so much promise and potential of where we are, and so much reason for hope. but right now i am scared. vonnie: prime minister boris johnson says the u.k. is on track to live pandemic restrictions by late june, and is cautiously optimistic it would not be a need to impose more lockdown measures again adding the country infection rates are the lowest in six months. however johnson warned against becoming complacent. >> i am hopeful and i do not see anything in the data now that would cause us to deviate from the roadmap but we have to remain humble in the face of nature and be prepared to do whatever it takes to protect the brit

let's get the details on that and the rest of the first word news as we join vonnie quinn. vonnie: reports from beijing saying senior chinese and u.s. envoys may actually meet for face-to-face talks. the first obviously since president biden took office. teams may meet in alaska to reset the current strained relationship between beijing and washington. the chinese side may be led by top lip to months -- may led by a top diplomat and the foreign minister. biontech says they could make 3 billion doses of the covid-19 vaccine with pfizer next year, making the shot far more widely available. global demand for the vaccine is rising as governments seek ways to reopen and revive their economies. the u.s. and europe aim to accelerate. >> in principle, we could further increase our manufacturer capacity. i do not see an invitation why we should not be able to produce 3 billion doses in 2022. it really depends on the demand. it depends on sectors, whether additional boost vaccinations are required. vonnie: military rulers of myanmar are cracking down on media and internet outlets in a

let's get you to vonnie quinn in new york with the first word headlines. vonnie: the container ship, digging up part of the suez canal bank to loosen it, saying the next 24 hours away crucial. they managed to move the ship 30 meters on saturday. the president of egypt says if it is not afloat by tuesday, the my -- more than 450 ships are backed up, as the academic toll grows. more than 110 protesters were killed over the weekend in myanmar in the deadliest clashes with the military since february's coup. the hunta marched in the capital. the dead include several children. the use of lethal force sparked condemnation from governments around the world. german chancellor angela merkel is threatening to assert federal control of the country's pandemic measures amid a surge in infections. she expressed exasperation with what she calls broken commitments. kerle -- merkel says tighter restrictions are needed after more than 28,000 new cases were reported saturday. china has picked the uae as is middle east vaccine hub in a deal that will see the country produce up

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

global news 24 hours a day with -- i am vonnie quinn, this is bloomberg. -- >> coming up next, it pickp its expected in both manufacturing and non-mean factoring. >> when it comes to your busine, we will stop at nothing. some of us are not the same. our close shave comes from our five engineered ladies signed to stay sharp. for those of us who do not want just the same, harry's, available in-store and for -- walmart.com. /and find you a new lower rate. >> china's recent recovery is likely toppling the u.s. is the world's biggest economy. we kind of alluded to this, the u.s. not coming from a position of strength. help closest china to overtaking the u.s.? >> some are saying it will be 2028 before china overtakes the u.s. is the world's largest economy. of course, in 2020 china was the only major economy that posted growth. last year used all china overtaking the u.s.. it share of global trade actually increased as people around the world board of masks and ppe. time and trends are on our side. he said not on his watch. the china will not open to make in the world's largest watch. china

let's get to vonnie quinn. nnie: a vale -- a hearing will resume again wednesday afternoon in hong kong. and include some of the city's most prominent activists. most have objected to government requests to keep them in jails with their trials potentially months away. iran's president says the 2015 nuclear deal is not up for negotiation and the only way to restore is for the u.s. to rejoin. in a phone call with french president to macron , macron urged the iranian president to give signs of goodwill. after former u.s. president donald trump abandoned the deal almost three years ago. opec and its allies are poised to agree on a production increased thursday by as much as 1.5 million barrels a day. the cartel looks to cool a rapid rally in food prices -- crude prices. the economy is recovering. brent crude fell in london for a four session tuesday, but still up 20% for the year. the u.k. government is extending the workers furlough through september as the economy continues to be hit by covid-19. it is a key part

let's get you to first word headlines with vonnie quinn. vonnie: hang seng index is posting its biggest overhaul in five decades and it will affect billions of dollars in funds. also limiting waiting to 8%. last year, the hsi lagged global tears and was seen as overly reliant on old world businesses. bitcoin surged back toward $50,000 after cryptocurrency mining was banned in china. inner mongolia has been a crypto favorite because it's cheap power helps electricity hungry mining. china spent years trying to shrink the mining of digital tokens. the former french president, nicolas sarkozy, has been convicted of corruption and given a year in jail. he is found guilty of helping someone land a prestigious job in return for favors. the legal system in france means he's unlikely to spend time in prison. myanmar's de facto leader appeared in court via video link accused of incitement to cause fear. she has no legal team and what was her first appearance since being arrested last month. the army continues to fire on demonstrators. the un's as at l

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

let's get over to vonnie quinn. vonnie: speaking of little progress, the massive container ship locking the suez canal remains firmly stuck for a third day as efforts continue to reflow it. it has forced cargo ship ships to weigh time-consuming trips around africa, threatening to destabilize global trade. analysts say delays to the global supply chain could translate to higher costs for consumers. the u.s. is blacklisting the two largest businesses that the myanmar military controls. sanctions against the two companies led by military officials include sweeping their u.s. -- includes freezing their u.s. assets. a coup on february 1 overthrew the civilian elected government. federal reserve says banks will be allowed to raise their dividends after june 30. restrictions on stock buybacks will be lifted for linger -- for lenders that perform well. three current and former board members of taiwan's central bank wanted overhaul of the central policy. they say efforts to hold back the dollar depreciation has caused long-te

let's get to vonnie quinn with the first word headlines. vonnie: sydney reporting its first local covert case in almost eight weeks after a hotel quarantine worker tested positive. he had received the first of two doses of the pfizer vaccine. new south wales said it's too early to know if it will hinder plans to ease restrictions this week. falling grain demand from china by targeting saudi arabia. for the first time in five years, australian exporters have broken into the saudi market. australian grain suppliers seem likely -- tons of orders this year. the military leaders of myanmar have imposed martial law after security forces killed more protesters across the country. beijing asked for better protection of chinese owned businesses with several outlets coming under attack over the weekend. they can use the army to maintain order. angela merkel has suffered her worst election defeat for two state polls. they say the party fell four points to 23% compared to 2016. they are consolidating their hold on power. voters have been able to express

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

i am vonnie quinn and this is bloomberg. kathleen: still ahead, we discuss the impact of the pandemic among australian clients with rachel ferrell. we will also discuss what needs to be done for women and minorities and the workforce. first, we speak with a top-ranked female fund manager and opportunities in the australian market. fidelity so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. haidi: australia's success in controlling the coronavirus has aided domestic stocks recently. let's look at where the opportunities are. i want to welcome in our guest. it is a pleasure to have you with us on international women's day. take a look at the macr

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

i'm vonnie quinn. this is bloomberg. up, will speak with the founder of tech fx trading. it's on the great bitcoin debate. that is up next. this is bloomberg. ♪ shery: time for morning calls ahead of the asian trading day. the markets are expecting alive fed meeting in terms of rates are qe policy but when forward guidance is key, expectation is so important. what are we expecting in terms of yield? >> it's unclear which way yields will go. over at guggenheim, scott minerd saying it skewed to lower bond yield. bill gross expects a higher yield as well as inflation. deutsche bank, dipping below 2% the first half of next year. they say the fed could announce by december but if it's priced in faster than expected, deutsche bank says 3% on the 10 year. an extreme scenario, up about 6% possible. cautioning that markets need and inflation reality check. as it stands, the consensus for the tenure is that 170. haidi: emerging markets will be looking to the fed as well to ease some of their anxiety about another taper tantrum. >>

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

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

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