it vonnie quinn with first world news. vonnie: germany and france expelling more than 20 russian diplomat's. the envoys suspected of links to spy agencies or security risks. germany says it will initiate more measures against russia. russia has denied beds forces killed civilians. -- at its killed civilians. germany safeguarding the gas supply. they own energy supplier -- it will come under the national energy regulator. they said on friday that is -- they did not disclose new ownership. sri lankan bonds slumped after soaring inflation led to a cabinet reshuffle. the investors fear that colombo will default. sri lanka is looking to renegotiate payments while dealing with asia's fastest inflation and the collapsing currency. global news 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. on vonnie quinn, this is bloomberg. haslinda: still ahead bloomberg markets: asia, with talk to cba about the global supply of grain. president biden says presiden

i'm vonnie quinn. this is bloomberg. >> still ahead, our guest is particularly focused on the apple sales figures. plus, earnings season could be raising more questions than answers. this is bloomberg. ♪ shery: we continue to see more stock market volatility. this will be the biggest move since 2011. our next guest says this is raising more questions than answers. it's good to have you with us. there seems to be a lack of conviction despite the fact that we have gotten pretty good numbers at least from the previous quarter. where is issue. >> the issue is there are so many variables that could change even the positive numbers in a short time. through the mutual fund lends, are moving short-term. there is some conviction that they could trade on sector movements and earnings, but it's not a long-term phenomenon. the real hope is some degree of stability and the only place that seems to be offering that at the moment is china. >> can you repeat that about china? what is the conviction there? >> the convi

we have vonnie quinn in new york with the first word news. vonnie: boris johnson has become one of the first g7 leaders to meet with his counterparts. this includes a pledge to supply additional military aid and other support. they will provide 120 anti-armored vehicles. russia reported it halted bond options for the remainder of the year. this is due to prohibited borrowing costs. financial borrowers in moscow are holding all foreign bond sales of the year. the russian government debt surged to a signal of 19% of default for the year. pakistani lawmakers are set to vote in their next prime minister after imran con was voted out on a no-confidence vote. plenty of opposition gathered enough votes to remove him opposition leaders showing the front runner to become the next prime minister. the imf is talking with sri lanka about potential loans to overcome a crisis of economic turmoil and protests calling for officials to quit. sri lankan president has been struggling after those in the government cabinet resigned. global news, 24 hours a day, on

haidi: let's get to vonnie quinn. vonnie: than san francisco fed says the rate resignation may not be that rare. the economic letter says historical data shows high levels of workers quitting jobs during all rapid recoveries in the postwar period. four point 4 million americans quit their job in february, keeping the quit rate near 2.9%. new research shows the earth may warm by three degrees celsius, twice the go oil -- the goal in the paris agreement. they warn unchecked emissions of greenhouse gases at record levels must peak before 2025 at the latest to keep climate targets alive. sri lankan bonds slumped after protests against inflation and lengthy power cuts led to the cabinet reshuffle. monday's price hold was the biggest among developing countries, suggesting investors and colombo will default. they are dealing with inflation and the collapsing currency. germany and france are expelling more than 70 russian disk -- diplomats in response to the alleged killing of ukrainian civilians. they are linking them to spy

let's get to vonnie quinn. : the white house says it is preparing a financing package with more details to come. that's after u.s. officials committed an additional $322 million in foreign financing. lloyd austin told reporters the goal is to see russia weakened and the company -- country has lost a lot of military capabilities. the philippines may hike its key rate as the central bank on one's accommodations. they may choose to wait one more cycle before making any moves. they have maintained rate increases are appropriate. >> the next meeting is may 19. hopefully i will show first quarter growth. vonnie: the hong kong foreign correspondents club is suspending an awards show over concerns of the national security law. they are worried about unintentionally breaking laws. they will continue to promote press freedom and hong kong. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. shery

i am vonnie quinn.hery: with over $2 trillion in assets under management, and what -- bny mellon tells us why they are focusing on japan. but also, the sydney australia tells us that equities are undervalued. that is next. this is bloomberg. ♪ l it is probably above 50%. -- it is probably above 50%. but an important point to me, david, is how deep a recession. i think the odds of a really deep recession, you know, some people are raising the shades of paul volcker and the deep recession we had then. i think that is very, very unlikely. extremely unlikely. shery: the former fed vice chair alan blinder, on the possibility of the u.s. recession. , next guest sees a brighter future for fixed income. joining us is mahjabeen zaban from citi australia. good to have you with us. how big a role will fixed income late your portfolio this year? mahjabeen: received fixed income to be a next important element. the fundamentals behind that are really that market losses in fixed income we saw earlier this year. we see

let's get to vonnie quinn with the first word headlines. vonnie: ukraine's army says russian forces are attacking along the line of contact in the donbass region. ukrainian president volodymyr zelenskyy says moscow launched a new campaign. president biden has vowed to provide more artillery for ukraine. and u.s. and its key allies are continuing to ramp-up sanctions against russia. sri lankan police are said to have killed at least one person and injured several others when they opened fire on protesters, marking the first fatality since demonstrations began over the country's economic crisis. investors say that they fired live rounds in central sri lanka after tear gas failed. pakistan has appointed a new finance minister. he confirmed his appointment via text message. economic aid, among the officials responsible for steering the nation, dwindling reserves and ongoing protests. global news on air and powered by more than 2700 journalists and analysts. this is bloomberg. >> look -- still ahead, we will discuss the yen as a currency. it is f

haidi: let's get you to vonnie quinn in new york. vonnie: china is defending its covid zero policy saying it is based on science and is effective. this after the u.s. allowed consular staff to leave shanghai and urged americans to reconsider travel to the country should shanghai reported a record of 25,000 infections on saturday and the city has been in lockdown for more than a week. next any lawmakers are said to vote in the next prime minister after enron, is ousted after a no-confidence vote. a united opposition gathered the votes necessary to remove him from office. parliament will pick his replacement on monday. the imf will hold talks with sri lanka about a possible loan taupe, and economic crisis that spiraled into up little turmoil and protests calling for the president to quit. on friday, the central bank raised interest rates by 700 inflation -- 700 points. on cbs, -- cited rising energy prices as well as supply chain disruptions. said the u.s. will avoid a recession and inflation will not become embedded in the economy. glo

haidi: let's go to vonnie quinn with the first word headlines. vonnie: germany is temporarily taking control of the gas in that company to take security of the gas supplies. gazprom owns an energy supplier and a gas storage firm and will come under the trusteeship of a national regulator. gazprom said on friday it no longer owned its german subsidiary but did not disclose new ownership. new research shows the earth may warm by three degrees celsius, twice the international goal. reports from the international panel on climate change warns on still unchecked emissions of greenhouse gas pushing to record level. scientists say it such pollution must peak by 2.5 at the latest to keep climate targets alive. a former goldman sachs banker has been accused of helping embezzle from the malaysian estate fund for greed. he's the only goldman banker to go to trial. they told jurors he hoped to make partner by arranging a lucrative series of deals. he is accused of seeking tens of billions of dollars into the bank. global news 24 hours a day on air and on bloo

i'm vonnie quinn. this is bloomberg. >> still ahead on bloomberg markets: asia, we discuss the impact of rising real rates and what it means for metals. traders brace for a more hawkish fed. plus, chinese officials push on a set of proposed punishments for didi. more on that scoop coming up next. this is bloomberg. ♪ yvonne: all right, take a look at your asia tech index we are following for a fourth straight session. you are seeing mostly lower for the most part. on a lot of the delisting concerns with dd after it dropped overnight quite substantially on the bloomberg scoop. the fate of the ride-hailing giant and further limbo when it comes to talking about the penalties involved. bloomberg has learned senior chinese officials have rejected the proposed penalties on the company stemming from a lengthy cybersecurity investigation. let's bring in our asia tech executive editor. peter, what is the situation surrounding it? the top watchdog still thinks the penalties do not go far enough? >> this is anoth

let's get to the first word news grid we have vonnie quinn in new york. vonnie: thank you and good morning. ukrainian presidential advisers as u.s. secretary of state antony blinken and defense secretary lloyd austin have traveled to kyiv is confirmed, it would be the first visit by top american officials to ukraine's capital since russia's invasion began. president volodymyr zelenskyy earlier said he would discuss the need for more u.s. weapons and was waiting for the security situation to allow president biden to visit. air raid sirens meanwhile were heard across much of ukraine early sunday evening crude morning of potential russian airstrikes. earlier russia said it had a large consignment of weapons in odessa. it continued on a steel plant where some 2000 ukrainian fighters are holding on crude kyiv is still pushing for a cease-fire guarantee from moscow to evacuate more than 1000 civilians and injured soldiers. syria closed its -- turkey closed its airspace including civilian flights carrying troops. it seen as solidarity with fellow nato members and

let's get you to vonnie quinn in new york with our first word headlines. vonnie: thank you and good morning. hungarian prime minister viktor orban scored a crushing election victory to clinch a fourth consecutive term despite criticism about democratic backsliding, he is a support for ukraine and close ties between him and russian president vladimir putin. he and his party are on track to maintain their two-thirds parliamentary majority. pakistani prime minister imran khan has thrown the country into chaos, calling for a first election after one of his political allies abruptly canceled a no-confidence vote. the deputy minister who is a member of the prime minister's ruling party cited foreign interference. khan then at the president to dissolve parliament, which was approved shortly afterward, a member of sri lanka's ruling party says the cabinet members have submitted resignations, following protests over soaring costs and the foreign exchange crisis. unclear yet whether the prime minister will accept the resignations. sri lankans inflation has accelerate

let's get to the first word news with vonnie quinn in new york. vonnie: thank you. the biden administration is excited to announce another $800 million in weapons and support or ukraine. forces say the money will come from the president's drawdown authority. foreign allies in emergency. this is what the imf calls on donations to fill it financing need for ukraine after russia's invasion. >> the first priority is to make sure that there is support to fill this financial financing gap in ukraine over the next few months. let me stress the 5 billion is to keep the economy functioning. it is not to meet the construction needs of ukraine that are going to be huge. vonnie: u.n. treasury secretary janet yellen and other central bankers have walked out of the g20 meeting after russian officials began speaking. head trader -- head chair from powell and boe governor enter bailey and ukrainian finance minister were among those who left or turned off their cameras when russian officials joined virtually. russia is on course for its first extort all and more than a century. the

shery: let's get you to vonnie quinn with the first word headlines. vonnie: the united states is sending ukraine $800 million worth of new military hardware. president biden announced this on wednesday after a phone call with president zelenskyy. it includes heavy artillery systems. it signals a more intense military commitment after most -- previous assistance was mostly defensive weapons. tuesday's shooting attestation that injured more than two dozen people. he faces a federal terrorism charge and could face up to life in prison if convicted. u.s. cap the dramatic manhunt that stretch 30 hours. jerzy has frozen more than $7 billion of assets linked to --. that's equivalent to half of his wealth. they rated -- sanctioned by the eu and u.k. last month. representatives didn't immediately respond to request for comment. finland has started a process expected to lead russia's neighbor into nato. the bid to join the organization could be decided in the coming weeks after the release of a white paper that sayed -- cited security guaranteeing's -- guarantee

for now let's get the first word news with vonnie quinn in new york. vonnie: but white house says it is preparing a longer-term financing package for ukraine, with more details to come later this week. that is after u.s. officials visiting kyiv committed an additional $322 million in foreign military financing. the flints -- the defense secretary said the goal is to see russia weakened and the country has already lost a lot of military cap ability. china is expanding its covid-19 testing to most of beijing, raising fears of an unprecedented lockdown. officials say they will be tested in another 11 districts. most infections so far have been detected -- shut down fears are stoking panic. the philippines may consider hiking its key rate in june as the central bank against unwind some pandemic-era accommodation. the governor told bloomberg policymakers will review growth data at the next meeting in may, and may choose to wait one more cycle before making any moves. >> next meeting is on may 19, and so we will look at the new data, and hopefully it will sho

let's get to vonnie quinn. kistani prime minister has thrown the country into chaos, calling for a special election after one of his political allies canceled a no-confidence vote. he was a member of the ruling party and cited foreign interference for dropping the motion brought by the opposition. he then asked the president to resolve parliament shortly afterward. and sri lanka's ruling party says the cabinet is calling for resignation. it's unclear if the prime minister will accept the resignations. inflation has accelerated at almost 19%. daily power cuts as long as 13 hours. china added more than 30,000 near covid-19 cases and nearly all of shanghai's residents are under some form of lockdown. the financial hub has emerged as the epicenter of the country's worst virus outbreak since the early days of the pandemic. state media also reported a subtype of the omicron variant, patients with mild symptoms. and a decade long rule has been removed for sharing data, opening up room for u.s. companies. according to c

here is the first word news with vonnie quinn in new york. vonnie: a couple of fed exclusives today. saying the central bank will raise interest rates steadily while starting balance sheet reduction as soon as next month. in a virtual's beast -- virtual speech, she said it was paramount for the fed. she did not make it clear whether she supports a have a point hike in may. however, she said she is open to stronger action if needed. in kansas city fed president esther george said a half point hike is an option to tackle inflation and she is regarded as one of the more hawkish fed leaders, though in recent months she has called for steady and deliberate rather than aggressive actions. an exclusive interview with bloomberg she said the size of the increase will need -- plans for tricking the balance sheet. sri lanka's president has revoked emergency rule within days of imposing it. the order had given them sweeping powers to seize people and property. he also faces mounting calls from lawmakers to resign. the governments majority in a tree lock i

let's get to vonnie quinn who has the first word news. funny: -- and vonnie: it does not specify the size of the fund. sources told bloomberg the previous he is leading an effort to raise several hundred billion you want to shore up confidence in the 60 trillion financial system. the new fund could indirectly help other sectors including distressed property developers. hong kong's number two official has announced his plan to run for the city's top job. he oversaw a crackdown on the pro-democracy opposition and the introduction of the national security law. global media reported he will be the only candidate to receive backing from beijing. hong kong's next leader takes office july 1. u.s. allies and international energy agency plan to contribute an extra 60 million barrels to the stock. it is intended to soften the blow from the surge in energy prices since the invasion of ukraine to the iea sees oil production slumping by a quarter this month leaving a gap of 3 million barrels a day. global news, 24 hours a day, on air and on quicktake b

i'm vonnie quinn. bloomberg. ♪ haidi: china has signaled it would loosen monetary policy at an appropriate time as the country ties to combat and excavating covid-19 outbreak, something that is hurting commodity prices. the pboc is planning to set up a stability fund to rescue troubled financial firms. our coanchor yvonne man joins us. what do we know about the sanctions? yvonne cold in the state council meeting came out yesterday, you mentioned an appropriate time. some are saying we could see concrete steps next week, with the mlf, can we see a cut in that front? they are also seeking ways to boost consumption. this came out hours after we saw that ugly, ugly pmi services number. in march, it came down to 42, lowest since february 2020. look at tourism revenue for the last three-day holiday and we have seen those levels go back to 40% of what it was in 2019. shanghai is still in total lockdown. so, that is putting the government's ambitious growth target of 5.5% in doubt. you mentioned the pboc comin

let's get to vonnie quinn with the first word headlines. l reserve chair powell says a hike of 50 basis points is in play at the next meeting in may. he also signaled support for more aggressive tightening to curb inflation, adding that he sees front end loading policy moves. he spoke at a panel on thursday, with the fed about to enter its traditional blackout period ahead of next month's meeting. >> at also think there is something in the idea of front-end loading, whatever accommodation when things is appropriate. so that point in the direction of 50 basis points being on the table. when we make these, decisions at the meeting and we will make them meeting by meeting i will say that 50 basis points will be on the table. vonnie: leaders from germany, spain, and article, have asked french voters not to back far-right candidate marine le pen. in a tweet, published on thursday, their leaders described le pen as a candidate who openly sides with those who attack freedom and democracy. australian opposition leader's election campaign has been in

get you over to vonnie quinn. vonnie: thank you and good morning. russia has barred entry to mark zuckerberg and others in retaliation for u.s. sanctions against top officials and business figures. it says the list also includes kamala harris as well as white house and state department officials. moscow band facebook and instagram last month calling them extremist. leaders from germany have asked french voters not to back marine le pen. all of schultz and others described her as a candidate who openly sides with those who attack freedom and democracy. they say the outcome would be a choice for all of europe. opposition leader's election campaign has been interrupted after he tested positive for covid-19. he will be isolating at home effectively putting him out of action less than two weeks into the campaign. the election is set for may 21. senior chinese officials have pushed back on a set of recommendations for didi global. didi has been in communication about penalties. we understand the agency had aimed to punish the results in april but the gove

let's get you to vonnie quinn who has our first word headlines. ie: the world bank has lowered its forecast for the year to 3.2% from 4.1%. it's president says the 170 billion funding dollar package is being discussed and will be bigger than the covid-19 response. he expects the debt crisis for some countries to worsen this year. u.s. treasury secretary will attend some meetings of the g20 finance meetings after u.s. officials threatened to boycott the meeting if russian officials attend. a senior treasury official said yellen will take part in the discussion focused on the economic fallout from russia's war on ukraine. china's central bank has pledged more for individuals facing headwinds from covid lockdowns. the pboc announced when he three matter -- 23 measures expected to used spending by billions of dollars. long return cheaper loans to enterprises. hong kong's government has confirmed the city's former number two official is the only candidate nominated for chief executive. that clears the way for the former police officer to take power afte

let's get you over to vonnie quinn with the first word headlines. vonnie: ukraine's army says russian forces are attacking along the line of combat in the donbass region. lotta ms. linsky says moscow has launched a new campaign focused on conquering -- volodymyr zelenskyy says moscow has lost a new campaign focused on conquering the area. allies have continued to ramp up sanctions against russia. sri lankan police say one person was killed and others were injured when police opened fire on protesters. officials say they fired live rounds in central sri lanka after teargas failed to disperse crowds. pakistan has appointed a new finance minister after key talks with the imf. the appointment was confirmed via text message after cabinet members were sworn in. economic aid to the three-time premier, ismail will be responsible to steering the nation to the second-fastest inflation, dwindling reserves, and ongoing covid. global news 24 hours a day on air and on bluebird quicktake powered by 2700 journalists and analysts in more than 120 countries. on vonnie

let's get to vonnie quinn who has more of the european gas news. russia will cut off gas to poland and bulgaria on wednesday, making good on its threats to hold supplies to countries that refuse vladimir putin's demand to be in rubles. it is seen as an escalation of that standoff between europe and russia over energy supplies and the were in ukraine. bloomberg has learned the kremlin is considering a plan to suspend its regional elections for september amid concerns about growing central tensions on the war. the talks are an indication of moscow's worry about raising political and economic costs, as fighting continues, and living standards decline. securities and exchange commission chair gary gensler has floated an idea aimed at increasing transparency. he wants to slash the amount of time traders have to report transactions from 15 minutes to one minute. he says disclosures have failed to keep up with technology. vice president, harris tested positive for covid-19, making her the highest ranking biden administration official to report being infect

let's get the vonnie quinn with headlines. vonnie: the u.s.conomy unexpectedly shrank in the first quarter. g to be declined at 1.4% following a 6.9% basis growth at the end of last year. economists had called for a 1% increase. contraction was due to a ballooning trade deficit and less robust consumer spending than anticipated. gina said the figure is not a trend for the economy. >> you look at small business starts, they are higher than ever. talk with ceos, the economy is resilient and growing. obviously, you don't want to see this. it is disappointing. but, we were not surprised. i do not think it is a trend. vonnie: president biden asked congress for $33 billion in aid for ukraine. white house officials say the funding would cover ukraine's costs through september 30, the end of the current fiscal year. the proposal would also get the u.s. new authority to seize and sell the assets of wealthy russians, allowing the government to use the proceeds to help ukraine. -- agreement with the imf within two months. in a speech to business leaders,

let's get you over to vonnie quinn with the first word headlines. vonnie: thank you and good morning. china is defending its covid zero policy, saying it is based on science and is effective. this, after the u.s. allowed counselors to leave shanghai and urged americans to reconsider traveling to the country. shanghai reported a record of almost 2500 infections saturday, and the city has been in lockdown for more than a week. pakistani lawmakers are set to vote for their next prime minister after imran khan was ousted. his four-year run ended sunday when united opposition gather the votes necessary to remove him from office. the opposition leader is the front runner to become pakistan's next prime minister. the imf will hold topsail sri lanka about a possible laon == friday, the central bank raised interest rates to cool soaring inflation. sri lanka's president has been struggling to form an interim government after his cabinet resigned. the fed -- she cites supply chain disruptions, partially due to covid restrictions in china. mester however says th

i am vonnie quinn. this as bloomberg. shery: still ahead, we discussed the bear market for bonds as a repricing of expectations creates the worst treasury selloff in more than two decades. up next, alphasimplex says equity markets are in limbo giving mixed signals about where they are headed. we discuss how to navigate that ahead. this is bloomberg. ♪this is bloomberg. ♪ >> it husband -- yields have climbed so quickly. demand for bonds is evaporating quickly. >> a huge selloff in the bond market. >> speed is a problem for equities. >> the job of orchestrating a soft landing. >> it is going to require some fancy footwork from the fed. >> growth is slowing. >> equities and fixed income are struggling. >> the fed's path to the soft landing has narrowed. >> it is unlikely we can avoid a harder landing. shery: some of our guests from bloomberg television. our next guest says equity market is in limbo and there are mixed signals about where they are heading. with us now is katy kaminski. a portfolio manager at alphasimplex grou

let's get over to vonnie quinn with the first word headlines. vonnie: the u.s. trade chief says washington wants to realign its commercial ties with china rather than seek a divorce. she told us exclusively the biden administration's policy has been focused on realignment in the global economy. the aim is to address the lack of visibility, accountability, and diversity in supply chains. >> i would focus really on the kind of changes we are trying to bring, which are really not about stopping trade, or trade divorce. they are really about bringing reform and more strategic approach to new trade. vonnie: pakistan's supreme court deferred a decision on the legality of the prime minister's decision to resolve parliament and call early elections. its chief justice has told lawyers to conclude their arguments by wednesday to a panel can hand down its verdict, although no date has been set for a ruling to be announced. sri lanka's president has revoked emergency rule within days of imposing it. the order had given him sweeping powers to seize people and property, but h

let's get to vonnie quinn for the first word headlines. vonnie: staying with ukraine, volodymyr zelenskyy has urged south korea to supply weapons to the war against russia in a video addressed to parliament, he called the korean war -- cited the korean war as he called on lawmakers to approve the sale of military hardware. earlier, seoul rejected kyiv's request for antiaircraft weaponry because of expressible stance on not providing the hardware. >> we need air systems, aircraft, tanks, and other armored vehicles. and ammunition. it can be indispensable for us. you have antitank, antiship weapons. when it comes to survival in a war and at the complete -- of the people, it is necessary. action must be taken quickly. it is necessary. vonnie: pakistan's new prime minister laid out his vision for the country in his first policy speech. he said he wants to turn the country into a paradise for investments to shore up the economy. he also unveiled a range of populist measures including raising the minimum wage. he was elected prime minister by ove

let's get over to vonnie quinn with the first word headlines. vonnie: the biden administration is expected to announce another $800 million in weapons and support for ukraine. sources say the money will come from the president's authority to arm allies in an emergency. this is the imf calls on nations to provide grants and donations to fill a $5 billion among financing aid to ukraine after russia's invasion. >> priority is to make sure that there is support to fill this financing gap in ukraine over the next three months. let me stress the $5 billion is to keep the economy functioning. it is not to meet the construction needs of ukraine that are going to be huge. vonnie: the u.s. rick perry -- the u.s. treasury secretary have walked out of a g20 meeting after russian officials began speaking. the fed chairman jerome powell, ecb president christine lagarde, boe governor, and the ukrainian finance minister were among those who left or turned off their cameras when russian officials joined virtually. russia is on course for its first expert -- exter

let's now get to vonnie quinn with the first word headlines. vonnie: the u.s. trade chief says washington wants to realign its commercial ties with china rather than seek a divorce. katherine tai oldest exclusively the biden administration's policy has been focused on realignment in the global economy. she says the aim is to address the lack of visibility, accountability, and diversity in supply chains. >> i would focus really on the kinds of changes we are trying to bring, which are really not about stopping trade, or trade divorce. they are really about bringing reform and more strategic approach to trade. vonnie: pakistan's supreme court has deferred a decision on the legality of the prime minister's this vision to dissolve parliament and call early elections. its chief justice has told lawyers to conclude their arguments by wednesday so the panel can hand down its verdict, although no date has been set for a ruling to be announced. sri lanka's president has revoked emergency rule within days of imposing it. the order had given him sweeping powers to seize p

let's go to vonnie quinn with the first word headlines. vonnie: the wto -- at the latest assessment, the war in ukraine could lead to a war of global commerce. they see a number of headwinds to trade growth and food insecurity. the u.s. sees human rights deteriorating globally as russia continues its war in ukraine. an annual report from the state department for 2021 before moscow's invasion highlights russian actions around the donbass agent of ukraine. the secretary of state antony blinken says more atrocities may come as russia pushes to take more of the country. sri lanka has held payments on foreign debt to reserve its dwindling dollars stockpiles. authorities say they will negotiate with creditors and our warning of a possible default. the announcement follows mounting calls for the president and his brother, the prime minister, to resign. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. haidi: as many as 60

let's get over to vonnie quinn for a check of the first word headlines. vonnie: turkey has closed airspace the russian jets flying to syria including any civilian flights carrying troops. the move is seen as a show of solidarity with fellow nato members and adds pressure on moscow to end the war in ukraine. however, sources say their assertions are unlikely to halt the movement of russian assets to syria, as moscow will likely use a radiant airspace. shanghai reportedly had a record 39 covid-19 deaths saturday, bringing the total number of at how these since 87 cents february. the average age of people was almost 79. and all at underlying diseases. china is sticking with its covid zero policy with strict lockdowns in the city. pakistan is asking the imf to extend its loan program for a year. the nation's finance minister said the request was made during talks with the fund in washington. he said the imf has largely agreed to extend the current program, but details will be worked out next month. the imf suspended sloan to pakistan after political turmoil le

let's get that story from vonnie quinn. vonnie: hungarian parameters are viktor orban on scored -- orban's party is on track to maintain its two thirds parliamentary majority with more than 4/5 of the vote counted. the pakistani prime minister it -- imran khan has thrown that country into chaos, calling for a fresh election after one of his allies abruptly canceled a no-confidence vote. a member of his party cited for an interference for dropping the motion brought by the opposition. khan then asked the president to dissolve, -- parliament. a member of sri lanka's ruling party says the -- a member of the cabinet has resigned. it's unclear yet if the prime minister will accept the resignations. sri lankan inflation has accelerated at the fastest pace in asia at almost 19% with a daily power cuts as long as 13 hours with diesel running out. hong kong's elections have begun after a two-month delay. local media say likely contenders include the current number two official. the current leader carrie lam hinted last week she might

let's get you to vonnie quinn now with the first word headlines. vonnie: the biden administration is expected to announce another 800 million dollars in weapons and support for ukraine. sources say the money will come from the president's job down -- this is the imf called on nations to provide grants and donations to fill a $5 billion a month financing need for ukraine after russia's invasion. u.s. secretary -- janet yellen and others walked out of the g20 meeting after russian officials began speaking. jerome powell, christine lagarde, andrew bailey, and the ukrainian finance minister also among those who left or turned off their cameras when russian officials joined virtually. russia is on course for its first external default in more than a century. the country was judged to have breached the term of two bonds by derivatives panel afterpay did in rubles instead of dollars. goldman set -- after it paid them in rubles instead of dollars. they could still avert a default if they pay in dollars before may 4. the philippines will await the actions of

let's get to your first word headlines with vonnie quinn. vonnie: the u.s. is sending ukraine $800 million worth of new military hardware. president biden announced this on wednesday after a phone call. the package includes heavy artillery systems and armored personnel characters. more intense military command after earlier shipment of defensive weaponry. new york city law enforcement officials arrested frank james in manhattan in connection with tuesday's shooting at a brooklyn subway station that entered more than two dozen people. james faces a federal terrorism charge and could face up to life in prison if convicted. the arrest cap a dramatic manhunt that stretched nearly 30 hours. sri lanka has been downgraded. the nation's decision to suspend payments on foreign debt has complicated the process. sri lanka's long-term currency is one step above default. earlier, they lowered the country to the third lowest level. as wide spread legal and social unrest continues. u.s. treasury secretary janet yellen has called meetings to account for the relationship wit

let's get to vonnie quinn now with the first word headlines. vonnie: a ukrainian presidential adviser says u.s. secretary of state antony blinken defense secretary lloyd austin have traveled to kyiv. if confirmed, it would be the first visit by top american officials to ukraine's capital since russia's invasion began. president volodymyr zelenskyy said earlier he would discuss the need for more u.s. weapons and was waiting for the security situation to allow president biden to visit. air raid sirens were heard across much of ukraine early sunday evening, warning of potential russian airstrikes. earlier, russia said it hit a large consignment of foreign weapons in odessa. strikes also continued on a steel plant in mariupol, where some 2000 fighters are holding on. kyiv is still pushing for a cease-fire guarantee from moscow to evacuate more than 1000 civilians and injured soldiers. shanghai reported a record 39 covid-19 deaths on saturday. this brings the total number of virus-related fatalities to 87 since late february, according to shanghai's

i am vonnie quinn. this is bloomberg. haslinda: still to come on bloomberg markets: asia, we will get the outlook for weakness in the yuan and the end spilling over. next, the former boj board member tells us why she does not expect any change in policy. stoking concern. this is bloomberg. ♪ >> as we get closer to that boj many, a bit of a boost here this morning on the back of those inflation numbers. let's talk about japan now. urging the bank of japan to keep working toward the 2% inflation goal. that is after he announced a 40.5 billion dollar aid package to ease the pain of storing prices. that have been amplified by the weaker yen. they have decided to make -- keep their name unchanged as they begin their two day meeting. a look at more analysis here. the former bank of japan military -- monetary policy board member. you had a chance to look at this package, i am sure. how effective do you think it is at boosting consumer spending? >> i think this will be a very interesting measure. this will be a low income househo

for now, we turn to vonnie quinn with a look at first word news. : in a statement from the treasurer, bullock was appointed to a five-year term, joining the rba in 1925 as an analyst and held a number of senior positions at the bank, including her role as subsistence governor since 2010. india says it plans to sell 120 -- $112 billion a fiscal bond starting in april. that is 59% of its full-year target and is largely in line with previous years. a record supply of $190 billion, with local yields already under pressure from higher oil prices and new upgrades. the opec-plus group has refused to deviate from its schedule of gradual production increases, ratifying a hike scheduled for may. opec also offered to exclude national production data, a minor technical change reflecting a deepening rift between institutions. russia plans to keep supplying gas to european customers even as it demands payments be made in rubles. president putin said the country will comply with all contractual obligations and insists on being paid for the fuel in rubles, planning

let's get you the first word headlines with vonnie quinn. vonnie: thank you and good morning.ill hwang has been arrested a year after the collapse of the family office. prosecutors say he was behind a vast criminal scheme to manipulate banks and markets. he has pleaded not guilty to charges of fraud and will be released on bond of $100 million. european commission president ursula von der leyen is warning companies not to give in to demands to pay for gas with rubles. european banks are responding after russia cut off gas to poland and hungary a. >> our guidance here is very clear, to pay in rubles. if this is not forcing in the contract, to pay in rubles is a breach of our sanctions. companies with such contracts should not accede to russian demands. bonnie: the government's tough response has threatened economic growth. it was agreed more forceful policy measures should be taken to boost jobs according to state media. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts from more than 120 countries. shery: still ahe

i'm vonnie quinn. this is bloomberg.linda: the rebranded parent company of budget airline air asia is accelerated plants to become the travel platform in southeast asia. it is tied up with google cloud to advance offering on-demand services. joining us is the ceo, tony fernandez. talk to us about this collaboration. what tech talent, engineering talent are you trying to get from google cloud? what kind of data analytics are you after? >> it has been a big week for us to get this deal from google to kind of see the potential to be one of the best in southeast asia. an important milestone for us. it is all about firstly getting the necessary tech support to make our app as good as any app in terms of user experience in the data analytics is a large part. -- and of the data analytics is a large part. the map technology is a big part. games is something we are looking at. on top of the messaging services. we want much more community driven so our cost of customer acquisition is much longer. a really big day for us to get the

let's get to the first word news with vonnie quinn in new york. vonnie: ukraine says the battle for the donbass region in the country's east has begun. president volodymyr zelenskyy said russian troops are starting and offensive following a long period of migration. moscow has not announced the start of an assault, but it's forces were already shelling the area heavily and sending troops there. >> russian troops begun the battle for the dundas for which they have been preparing for a long time. a significant part of the russian army is concentrated on this offensive. no matter how many russian troops are driven there, we will fight. vonnie: russian president vladimir putin has decorated the army unit ukraine accuses of war crimes. in a signed degree, putin awarded them the honorary title of guards, citing mass terrorism and valor. he made no mention of the invasion. ukrainian police say 350 bodies have so far been collected in blue-chip, with almost -- in bucha, with almost all of them shot. sri lanka's president says he is open to constitutional c

i am vonnie quinn. this is bloomberg.e: coming up in our weekly quality segment look at how labor trends are going how women are taking a limited window of opportunity to reach leadership roles. talking with dan, coming up here, this is bloomberg. ♪ >> welcome back, today we're looking at data from linkedin, it shows how women face a limited women to -- window of opportunity to get leadership roles, and accessibility a work level the playing field? joining us is linkedin, thank you for joining us. talk to us why women can to -- continue to play a minority leadership role and how can that be fixed? >> i think at the years i was early in my career i had two young kids. like it or not when you have two young kids and you have to juggle between work and family detention is real. -- the tension is real. our research shows that in the first 10 years of work women get promoted faster than men. by a year and a year and a half after. after the 10 year period it dips. it is no surprise, women have kids and they have juggle family a

vonnie quinn. >> the u.s. economy shrank in the first quarter. gdp declined at 1.4% following a 6.9% pace of growth last year. economist had seen a 1% increase. it was due to a ballooning trade deficit and less robust consumer spending. the commerce secretary said it is not a trend. >> you look at small business starts, they are higher than ever. wages are up. i talked with ceos about their businesses. the economy is resilient and growing, so obviously you don't want to see this, you know, it is disappointing and you never want to see it, but we were not surprise and i do not think it is a trend. >> janet yellen is defending the administration's $1.9 trillion budget and spending package criticized for helping fuel the highest inflation in 40 years. his 2021 rescue plan came on the heels of two major packages in 2020 totaling almost $3 trillion. janet yellen says the program played a key role in driving growth throughout last year. turkey could offer funding with a guaranteed 4% return to foreign investors want to park their money for two years. s

i'm vonnie quinn. this is bloomberg. shery: still ahead, president biden vowed sanctions on russia will stifle its economy in that the war could continue for a long time. we will discuss with georgetown university. economic forecasts could be wishful thinking. more on that with aegon asset management. this is bloomberg. ♪ >> big slide from the bond market. >> starting to respond. >> a frothy patch. >> this is market to be adjusting to a faster pace. >> having brainerd reno rate the fact that they want to move quickly. >> they are trying hard to get a soft landing and retain inflation credibility. >> eric investment is being followed. >> moving into that phase. >> the balance sheet is going to be an important tool. >> the fed may not have to raise rates significantly above neutral. >> we are inside the uncharted waters. >> does inflation decelerate? >> this is an extra problem investors are having to grapple with. >> that is causing volatility and volatility in the bond markets means other people cannot hold one markets.

let's get to vonnie quinn. vonnie: rates will be raised to a level that neither stimulates. sheet could come as soon as may which could lead to reduction starting in june. consumer prices rose in march putting more pressure on the fed to ask. president biden is said to be seriously considering a veteran as the chief banking advisor. he was an architect and has emerged for a leading contender. this is a nominee that canopies the progressive wings. boris johnson is the first u.k. prime minister in modern times who becomes guilty of breaking the law. he said he paid a fine for breaching coronavirus lockdown rules. he apologized for the scandal and maintained he knew the gathering british rules. -- breached rules. >> it did not occur to me this might have been a breach of rules. i fully respect the outcome of their investigation. i offer a full apology. vonnie: in february, 36% of candidates said the average pass rate was about 41% and only 19,000 candidates pass the exam in february. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journa

let's get to the first word news with vonnie quinn. vonnie: thank you.zy with $7 billion of assets. he was sentenced by the eu and u.k. last month. representatives did not respond to requests for comment. janet yellen is calling beijing to account for its relationship with moscow. she criticized china for practices that she says unfairly damage the national security and she's worn beijing to help end russia's worn ukraine her face a loss of standing in the world. >> the world's attitude towards china will embrace further economic integration. it will be affected by china's reaction to our call for action in russia. vonnie: chris willard says the u.s. economy can handle aggressive policy tightening. he told cnbc that he prefers to frontload future rate hikes with the aim of getting the key rate above neutral by the second half of the year. the neutral rate lines around 2.4%. china's central bank is expected to take steps to ease policy in the coming days. a survey shows the colonists expect the key policy rate on friday. it's expected to reduce the reserv

let's get to vonnie quinn with the first word headlines. vonnie: archegos capital has been arrested by federal agents a year after the collapse of his family office. prosecutors say he was behind a vast criminal scheme to mislead banks and manipulate markets. he and his former cfo have both been charged with fraud. he pleaded not guilty and will be released on a bond of $100 million. the european commission president is warning companies not to give into russia's demands to pay for gas in rubles. european firms have been scrambled to respond after russia cut off gas to poland and bulgaria. at least four european gas buyers have given into moscow's ultimatum. >> our guidance here is very clear. to pay in rubles, if this is not proceed in the contract, to pay in bulls is a breach of our sanctions. companies with such contracts should not given to russian demands. vonnie: china's government has pledged to stabilize employment. at a meeting, it was agreed more forceful policy measures should be taken to boost jobs. china's surveyed jobless rate

let's go to first word news with vonnie quinn in new york. >> the governor will be raised to a leverneither stimulates nor flows the economy. the decision could come as soon as may, which would lead to reductions in june. u.s. consumer prices rose in march weather now since 1981, putting more pressure on them to act. the wto has cut out a merchandise trade growth to 3% down from 4.7%. in its latest assessment, the governor says the war in ukraine could lead to a broader slowing of commerce. they also see the number of headwinds to trade growth, including food insecurity and a possible resurgence. the u.s. sees human rights deteriorating globally, as russia continues its war in ukraine. an annual report from the state department for 2020 moscow's invasion, allies acting around the dome past region of ukraine. worse may, as russia tries to take more the country. president biden is said to be seriously considering president -- treasury department michael as the fed's chief banking civilize her. farr, who his an architect, has emerged as a meeting contender. he seen as a nominee who coul