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

let's get to vonnie quinn with the first word headlines. says interest rate increases may need to persist beyond a planned half-point move in two weeks time. the ecb chief described march's hike as necessary and likely same policymakers will do everything to return inflation to the 2% target. investors see the deposit rate being lifted to a peak of 4%. u.s. secretary of state antony blinken has spoken with russia's foreign minister at the g20 meeting in india urging him to push for peace in ukraine. moscow says sergey lavrov disregarded weblike and said in their brief and unexpected encounter. china's foreign minister also met with lavrov in new delhi. clicking says washington may sanction beijing if it gives russia military aid. >> were china to engage in material legal support for barges aggression -- for russia's aggression or to engage in the systematic evasion of sanctions to help russia that would be a serious problem for our countries. vonnie: china is investing $1.9 billion in a chipmaker to boost local production. it suggests beiji

haidi: let's get you to vonnie quinn. : sources say first citizens bancshares are still working on a deal for silicon valley bank. the lender submitted an offer on sunday and may participate in auctions this week. the fbi see says it is extending the bidding process through friday after getting substantial interest from multiple potential buyers. pakistan is closer to unlocking a crucial bailout from the imf. leaders say pakistan has made substantial progress to meeting policy commitments as it seeks to unlock loans. the cash-strapped nation needs to repay about $3 billion in debt by june. ecb president says there is no conflict between the targeting mission and its responsibility to stave off financial system threats. he told you long -- she told eu lawmakers that she ensures the banking sector remain strong. >> we are very confident that the capital and liquidity positions of the euro area bank are very satisfactory with significant capital ratio and liquidity coverage ratio way in excess of requirements. vonnie: fenlon

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

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

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

let's go to vonnie quinn with a first word headlines. nnie: the biden administration is so close to computing an executive order that will restrict u.s. companies' investments in parts of the chinese economy. the restrictions include advanced technologies that could enhance china's military and intelligence capabilities. president biden is preparing to request funding for it in his fiscal 2024 budget. japan is reportedly planning to lift restrictions on experts of key electronic components to south korean. newspaper says it is part of a deal to withdraw complaints to w.t.o. over a trade dispute. . the wto agreed in 2022 mediator the two countries' spats over japanese curbs on chemicals used to manufacture smartphone displays, tv screens, and semiconductors. saudi arabia has raised prices for crude shipments to asia and europe, as it anticipates, picking up saudi aramco increased more prices, with its main arab at $2.50 a barrel above the original benchmark. those for northwest europe and the mediterranean jumped by as much as $1.30 a barr

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

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

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

let's get to vonnie quinn. ie: jerome powell says the central bank will likely lift interest rates higher and possibly faster than previously anticipated. he said inflation remains well above the target. traders are now betting on a 50 basis point hike later this month. french unions have pledged to keep up their fight against the pension plan. turnout for the nationwide protest has surged to 1.2 8 million people. the movement has disrupted energy infrastructure. getting the french to work longer and retire later is part of the plan to make the economy more attractive for business. a ceo says returning chinese demand is already exerting a poll on some resources. he told us the second-biggest economy is set to surpass the growth target of 5% set this week. he also says it's a good thing that russian oil continues to flow despite the g7 price cap although shipping costs remain a headwind for some markets. >> barrels are flowing, but because of the high freight rate , i'm concerned about the longer distance markets

kathleen: let's get to vonnie quinn now with first word headlines. vonnie: tennessee police say the suspect in a national school shooting had drawn a detailed map of the building, including potential entry points. 39-year-old children and three adults were shot and killed at the christian elementary school. police shot dead the attacker, i didn't fight as a 28-year-old former student. president biden has again called on congress to ban assault weapons. the israeli prime minister says he will delay a controversial plan to weaken the judiciary following it a of unprecedented strikes and protests. he is seeking a compromise with opponents of the bill. his push to give politicians more power over the selection of judges has triggered one of the most sustained times of civil unrest in the country's history. >> when there is an opportunity to avoid a civil war through dialogue, i as prime minister i am taking a timeout for dialogue and give real opportunity for dialogue. the system needs to bring about the necessary corrections in the legal system and we ar

let's get you to vonnie quinn. h korea is expected it approve a bill that offers tax breaks to the country's semiconductor industry. the k chips act will increase from 8% to 15% for companies that invest in manufacturing festivities. small to medium firms was to get a rise to 25%. the act is intended to spur domestic investment for tech companies including samsung and sk hynix. regulators in singapore are describing the lengthy outage that hit banking services on wednesday is unacceptable. the monetary authority has asked southeast asia's biggest bank to conduct a thorough investigation following the outage, which lasted 10 hours. the dbs ceo says the company will review what happened following a similar incident in november 2021. ai experts and industry leaders are calling on developers to halt the training of powerful ai models. a petition calling for a six month break from training ai systems was signed by more than 1000 people in the industry, including elon musk and steve wozniak. at the tech leaders say ai sys

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

let's get you to vonnie quinn. vonnie: joe biden has unveiled a $6.9 trillion budget proposal setting the stage for high-stakes negotiations with congressional republicans over the debt ceiling and government funding. it includes extending the solvency of medicare, lowering prescription drug costs and cutting the deficit by $3 trillion over the next decade. it is certain to be rejected by the republican-controlled house. the u.s. is stepping up its chips collaboration with india as it seeks a bigger control of the supply chain. gina raimondo has traveled to india. they will discuss ways to avoid over subsidization. india has offered $10 billion in incentives. the only goldman sachs banker tried and convicted in the 1mdb scandal has been sentenced to 10 years in. he was convicted last april of conspiring to violate u.s. antibribery laws and laundering money. global news powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: let's look at the australian tr

i am vonnie quinn. this is bloomberg.e what the corporate restructuring could mean for mounting breakup pressures. more just ahead. top u.s. financial officials tell congress there should be stronger regulation of regional banks following the collapse of spv. the highlights, coming up next. this is bloomberg. ♪ the new chase ink business premier card is made for people like sam who make...? ...evey products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours. go. go air that runs factory. go sensors and software. go find leaks. go fix-em. emerson technology detects compressed air leaks to save manufacturers, like co

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

yvonne: meantime, let's get you caught up with the first word news of the vonnie quinn in new york. vonnie: that biden's administration is such and available restrictions of the chinese operations of chip makers that get federal funding. . the commerce department will outline the new curbs as it disburses funds. they include a 100 thousand other spending cap on investment in advanced capacity in china, and restrictions on expanding output. the u.s. is reviewing whether the impact on chinese startups on the -- the u.s. is reviewing whether the impact on chinese startups from the fall of silicon valley bank was broader than expected. japanese prime minister fumio kishida made his first visit to ukraine since russia's invasion. he offered strong support to ukraine, and invited president zelenskyy to group the -- to join the group of seven in may. he made the trip after stopping in india to pressure prime minister modi to join others in shunning russia for the invasion. russia has decided to keep its oil production at a reduced level through june, according to the deputy prime minister.

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

let's get to vonnie quinn in new york. vonnie: police say the suspect in the nashville school shooting had drawn a detailed map of the building, before killing six people including three children. police shot dead the attacker, who they named as a 28-year-old former student who identified as transgender. following the tragedy, president but called on congress to ban assault weapons, saying gun violence is ripping at the soul of the nation. israeli prime minister benjamin netanyahu says he will delay a controversial plan to weakened the judiciary following a day of unprecedented strikes and protest. he is seeking compromise with the opponents of the bill. 's pushed to give politicians more power over the selection of high court judges has triggered one of the most sustained periods of civil unrest in the country. >> there is an opportunity to avoid civil war through dialogue. i as prime minister i'm taking a timeout for dialogue. i gave a real opportunity for real dialogue. we insist on the need to bring about the necessary

let's get you back to new york with vonnie quinn in the first word headlines. vonnie: the biden edmond's ration is said to be pairing more on exports to china. the new rules may be announced next month. the plan which made up of the number of machines that need special licenses before shipment could create fresh obstacles for equipment makers. it's part of an ongoing effort to hamper beijing's development of advanced semiconductor industry. an influence the outbreak in china has intensified with infections right is -- rising for a sixth week. the northern city is preparing to enforce pandemic style lockdowns with schools and business closures to curb the surgeon infections. positivity rate for flu jumped to about 42% last week from 25% the week before. adani is taking more steps to bring back investor confidence. it has completed the full prepayment of share backed funding worth 2.15 billion dollars weeks before its deadline. it also repaid a loan facility which financed the acquisition. they have been prepaying are owing since a short seller accused of fraud in

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

shery: let's now get to vonnie quinn with the first word headlines. ie: some members of the ecb governing counselor set to oppose a large interest rate hike. dovish voters will argue the economic environment has shifted and more caution is needed. the ecb president said last week a half-point increase is very likely as the central bank seeks to tame inflation. the european union may not get a chip plan if it continues to refuse to engage taipei and trade talks according to an editorial column published by the government backed central news agency. they were talking with berlin about setting up a plant in germany but the taiwan central news agency says the european commission has refused to enter trade and investment talks. u.s. department of justice has reportedly opened an investigation into the collapse of the crypt though stablecoin tara usd. the fbi and new york attorneys have questioned former team members of the creator who is currently in hiding. south korea has interest warm and -- arrest warrant against them for fraud. president biden has auth

that's good more with vonnie quinn in new york. den administration is set to be putting more restrictions on the export of chipmaking care to china. the u.s. government has briefed local companies on the new rules that may be a next month. the plans may double the amount of machines that need licensing before shipment, which could create fresh obstacles for chipmakers. it's part of an ongoing effort by washington to hamper beijing's department of its semiconductor industry. an influenza update in china has intensified, infections rising for a six-week. one northwestern city is preparing to enforce pandemic-style love abounds with schools and business closures. the cheney centers for disease control and prevention says the positivity rate for flu jumped about 42% last week from 25% the week before. india's government has opposed giving legal recognition to same-sex marriages, in a landmark hearing on monday. . and its court filing, the administration has said that marriage is expected only between a man and woman, and that any deviat

let's get you to vonnie quinn. vonnie: regulators in china have informed so brokers they can resume contributing bond pricing feeds to data aggregators. according to bloomberg sources. it follows an abrupt suspension of such services for its 21 trillion dollar market. that sent jitters through some corners of the market. has been no official!has been nr the sudden halt in data feeds. the u.s. has released a sort video that shows russian jed's dumping fuel on a u.s. surveillance drone in international airspace, and apparently clipping the aircraft. the chairman of the joint chiefs of staff says he doesn't know if it was intentional, but he says the video suggests that russia's actions were aggressive. tiktok is awarded awarded talksf potential buyers as the u.s. precious it to divest. -- presses it. former president donald trump threaten to ban the app in 2020. rival social media stocks rallied as the u.k. dealt a new blow to the popular video sharing app. it is banning tiktok from government funds, citing security r

with beijing and moscow in the frame come here is vonnie quinn. ese president xi jinping starting a three day vision to rush on his first trips in securing a third term as leader. in an article published in russian and chinese media, xi says is important for lesions between the two nations to remain at a high level. -- for relations between the two nations to remain at a high level. goldman sachs lowers its oil forecast amidst a surge in demand from china. the analysts now see brent reaching $97 a barrel in the second half of 2024. in january, the bank estimated crude could reach $100 in the fourth quarter of this year. the leader of south korea's main opposition party could possibly face persecution in the next few days. he could be indicted on charges related to an alleged scandal. the case is related to -- lee says he is the victim of a witchhunt. former president donald trump's claimed that he has faced imminent arrest has jolted the republican field. party leaders have offered support but most of trump's potential rivals remain silent. polls s

let's get you to vonnie quinn with the first word headlines now. will bring you those first word headlines. the boe governor -- over the pace of further interest rate rises. some further increase in rates may turn out to be appropriate but nothing is decided. they led the advance with the yield on two yield notes falling as much as 11 basis points. bloomberg's been told top chinese officials are surprised by how quickly the economy is recovering suggesting that the government may be restrained when it comes to blowing out new stimulus measures this year. also says the infection following the abrupt end of covid is more swiftly than senior officials expected, allowing the economy to rebound faster. australia has quietly blocked a big by the chinese company to increase ownership and rare supply and minerals. singapore base applied last august to increase its ownership to 19.9 percent, almost doubling at stake. they issued an order last month, blocking the move and a possible test of warning diplomatic ties. the greek prime minister said human error pr

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

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

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

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

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

let's get first word news with vonnie quinn. mply discover president mary daly says interest rates will probably need to stay higher or longer. she pointed out inflation remains high end goods, housing kind of the services despite aggressive tightening. she supports raising rates to somewhere between 5% to 5.5%. the biden administration is said to be close to completing an executive order that was a restrictive is companies's -- company's investments in front positive technology. we have learned president biden is preparing to request funding for it in his fiscal 2024 budget. saudi arabia as a raise prices for crude shipments to asia and europe as it anticipates demand picking up. state-controlled saudi aramco increase most prices for asia in april with its main era but like rate at $2.50 a barrel above the regional benchmark. those for the mediterranean jumped by as much as $1.30 a barrel. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i

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

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

let's get you to vonnie quinn with the first word headlines. vonnie: the ecb is asking lenders about indirect exposure to credit suisse after finding their balance sheets show few or no holdings of the swiss firm's jr. debt pair the watchdog is said to be widening as approach to ask banks if they face risks from their clients a losing money. the takeover of credit suisse rendered $17 billion worth of at1 that worthless. the biden administration is set to unveil restrictions on the chinese operations of chipmakers that get federal funding paired sources told bloomberg the commerce department while line new curbs as it disburses funds under the chips and sciences act. they include a 100,000 dollars spending cap on investments and advance capacity in china and restricts on the -- restrictions on expanding output. the japanese trimesters made his first visit to kyiv. he invited president zelenskyy to join the group of seven summit 10. he made the trip after stopping in new delhi to pressure indian prime minister modi to join other leaders in shunnin

i am vonnie quinn and this is bloomberg.ure leaders after the svb collapse for the risk perception for the india startup scene even without a direct adverse impact. we have an analysis on this on the way. this is bloomberg. ♪ ever better. it's when disruption hits your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. rishaad: that is mumbai at the moment, a bit of that rain in recent days. the nifty is pointing upwards at the moment premarket. we are also higher. we are looking at i.t. stocks in particular because this whole sector will be in focus after rajesh gopinathan steps down in a big surprise from tata consultancy as it ceo, the resignation coming at a time with the sector faces uncertainty from a slowin

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

. >> let's now get over to vonnie quinn with the first word headlines and a little bit more on china. >> exactly. regulators in china informing some brokers they can resume data aggregators. it follows an abrupt suspension of such services. the move blindsided investors and sent jitters through some corners of the market. the u.s. has released a short video that shows russian jets dumping fuel on a u.s. surveillance drone and apparently clipping the aircraft. the chairman says he does not know if the downing was intentional. he says the video suggests russia's energy was aggressive. the leaders of south korea and japan have pledged the readiness to end a long simmering dispute. tiktok is reportedly in talks with potential buyers as the u.s. prices it's -- when donald trump threatened two the app in 2020. it is been a tiktok from government phones citing security risks. global news, 24 hours a day on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. click still head with oil prices higher -- hovering near the 15th month -- 15 month low

i am vonnie quinn. this is bloomberg. rishaad: thanks.break, i am haidi stroud-watts. telling us why the long-term trajectory in india is positive. we have our exclusive interview with the chairperson next. this is bloomberg. ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. ever better. it's when disruption hits your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh rishaad: indian markets opening in seconds, a down arrow story given premark

evening from bloomberg world headquarters, and vonnie quinn. thanks remain under pressure, even as janet yellen changes town to further the protections. >>, blocks as it is exploring legal action as shares tumble after hindenburg research accuses it of facilitating fraud. let's get a quick check on wall street. we'll see how futures are shaping up. s&p and nasdaq futures are higher. it was an intensely volatile day on wall street. fortunes made and lost several times today. the addition of that, the department would be prepared to take an additional action if wanted on deposits. a chill through the banking sector. we saw banks take a further leg lower. that moderated gains also had people claim to tech as a safe haven. the two year yield at one point was down to 3.73%. a huge -- usually valid today. particularly at the front end. we have more weight on the dollar index, the bloomberg dollar index was down for a sixth straight session. let's have a look at some of those banks because it does look like the contagion is spreading just a little bit

let's get over to a vonnie quinn. >> think you and good morning. the head of south korea's financial watchdog says the property market may lead to default on project financing loans. authorities have amassed and assessed 5000 projects relying on these loans, they are ready to act. measures have been put in place to cope following and on expected credit crunch last year triggered by developers default. >> that incident, myself and my colleague, including finance minister, head of bank of korea and fsc, we are quite certain we vaccinated. >> prosecutor's have filed a new charge of fenced debt against sam bankman-fried. it alleges the ftx co-founder authorized a $40 million payment in 2021 seeking to regain access to the assets. bankman-fried has already pleaded not guilty to several fraud charges be a he is accused of funneling billions of dollars from ftx to alameda for personal expenses. >> french makes including -- face collective finds. as part of investigations into tax fraud and money laundering. relating to a dividend are retries strategy woul

i am vonnie quinn. this is bloomberg.his hour, we get analysis from lgt wealth about how the level banking turmoil is affecting india's financial sector. rishaad: plus, air earlier says it is in talks to file a world record holder for 417 aircraft. chief executive kamber wilson gives us the details later this hour. this is bloomberg. ♪ haslinda: welcome back. it is looking pretty cold in the market. the hang seng app 0.4%, -- looking pretty calm. bank stocks having a revival. hstech is up 0.5 percent. still with us is sailesh jha, chief economist and head of market research at rhb banking group. if you take a longer-term perspective and look beyond the expectations of recession, how should you be positioning? sailesh: our core messages really are, as i mentioned, that the dust will settle by mid-may. so from now until mid-may, there will be plenty of opportunities in investing in risky assets. our topic on a global basis is going along the u.s. banking sector -- going long the u.s. banking sector. if you look at the msci