yvonne: 7:00 a.m. here in hong kong, live from bloomberg's asian headquarters. i'm yvonne man. david: our top stories, off-again, on-again. president trump says the kim summit should go ahead next month. yvonne: his comments following a second meeting between kim and president moon jae-in. all sides say they are preparing for singapore. david: the white house plans for a dte. facebook pushback from congress. marco rubio says there is widespread opposition. yvonne: jay powell make the declaration of central bank independence. he says policymakers are under growing government pressure. david: a very good morning to all our viewers if you are watching out of the u.s. yvonne, lots of positive news on the weekend. hopefully gets us out of this rut. ourre going to get where starting point is for equity markets in asia pacific. it takes you back 12 months. we talked about it three weeks ago, a stake out and break out towards the upside, then we meandered back into the range. that is our starting point. if nothing goes to plan, we are going for a third straight week of losses across eq

yvonne: i am yvonne man in hong kong.ualcomm said to give up developing chips, yielding the market to rival intel. let's get more on this breaking story with mark gurman, joining us from san francisco. tell us how we came to this point. it seemed they were going to be .eveloping with arm there was interest in the beginning, but we did not hear much about it from qualcomm. what went wrong? mark: this was a significant colleaguetory from my on the terminal. what the story says is qualcomm is looking to either shutter or sell, spinning off its is this. what these chips are are the processors that power the server farms used by companies like facebook to power the facebook website or apple in order to allow cloud services to work or serverin the fronts. it had the slimmest of market shares. with intel absolutely dominating the market over every other provider with 99% market share. as we have been reporting here on bloomberg for the past several months, qualcomm has been looking at ways to save money and slim down its busines

yvonne: i am yvonne man, welcome to "daybreak asia." top stories this friday, positive after wall street's rally to a seven-week high. see you in singapore, president trump confirms the summit with kim jong-un will happen in the lion city on june 12. in newi am betty liu york, after 7:00 p.m. thursday. focus on the economy, mahathir mohamad promising a business-friendly malaysian government. many heads roll after the 1mdb scandal. many rate hikes are likely after slowing growth and inflation. very different day today here in the markets, yvonne. we had tepid inflation data coming out. suddenly investors were thinking the fed would not be so aggressive in its rate hike path. i am not sure why the inflation data was so surprising. take a look at this gtv. it shows the core measure of u.s. inflation has stabilized. you can see just above that 2% level. just above the 2% inflation target. we have seen that for a while, of course noting the wage data won't budge. inflation is pretty mild in the u.s. why so many think the fed will be even mor

yvonne: i'm yvonne man in hong kong. when it comes to equities, raleigh hitting lower today.y within about a 10th of 1%. australia seems to be the outlier. dollar strength seems to be trickling, but we are on the back foot. hong kong also coming in, not a good open, according to futures this morning. ocbc bank wealth manager and senior investment strategist joins us. it seems like geopolitical risk is back into the markets. president trump saying it may shouldpen, how worried we be about these types of headlines, or is it all noise? >> i think it is a lot of noise. if you look at history, geopolitics repels markets in the short-term. they may not have a big impact in the medium to long-term, as long as it doesn't have an economic and earnings feedback. in the case of north korea, we have had so much rhetoric and few yearsthe last from the north koreans, the markets have gotten used to it. the situation is much better than it was one year ago, when president trump and kim were exchanging bouts. we have a better situation now. there is a good likelihood that the summit could st

yvonne: i am yvonne man in hong kong. you are watching "daybreak asia ." to first word news with jessica summers. jessica: north korea canceling -- threatening to cancel the plan summit with the u.s. the southe talks with have been canceled because of a drill. kim jong-un is a scheduled to meet president trump on june 12. washington says preparations are going ahead despite the latest twist. >> we are operating under the idea and the notion that the president's meeting is going forward with chairman kim next month. jessica: china's holdings of treasuring -- treasuries rose to almost 1.2 trillion. underscoring the lower of u.s. government debt, despite trade tensions. china remains the largest creditor to the u.s., followed by japan. it is at the lowest since october 2011. u.k. prime minister theresa may will publish a detailed plan for the e.u., forcing her warring cabinet to agree on an approach. it should give the clearest vision of what the u.k. wants post-brexit. they are deeply spit -- deeply split over europe. as expected, there was no breakthrough.

yvonne: thank you. to another top story, the trump administration's top officials are set for another day of talks in beijing after what the white house called a positive start to negotiations. but go to beijing. tom mackenzie is joining us for more. it seems agree of avoided some of these nasty headlines in day one. how do you think these stocks have been progressing so far? tom: so far we have avoided the nasty headlines but that is largely because we've not heard from u.s. delegates or their chinese counterparts. economistard from the for vice president mike pence who said that they feel the talks will start off fairly positively. they say the u.s. delegations came over with a list of asks, among them were demands to reduce tariffs, to be on equal footing with levies imposed by the u.s. so china would be pulling in the more u.s. imports. we know the u.s. delegation, we've heard from mnuchin, they and concerneded on the forced tech transfer that they say is happening here. potentially china may talk a

yvonne: i am yvonne man in hong kong. you are watching "daybreak australia."us is bad loans to the country's five biggest eight-run banks are $7 billion more than the lenders assessed. for the yearts ended march 20 17 and showed discrepancies triggered large losses as the banks increased provisions. haidi: volkswagen is opening three new factories in china with its local partner sow group as it seeks to step up ownership. there will be focused on suvs and electric vehicles, the fastest-growing segments of china's auto market. yvonne: the japanese owner of chinese soy sauce maker is said to be considering a sale. he is talking to advisors about the level of potential interest in the 100-year-old amoy, which began producing soy sauce in 1908. we are told deliberations are at to early stage and ajinomo might decide against a sale. that is a lot of soy sauce. a look at how markets are faring here for memorial day. for theof that holiday u.s., let's take a look at how u.s. futures are pointing, a little bit firmer, up about 1/5 of 1%. 1.1625,see the euro at leaders

yvonne: i'm yvonne man., sf holdings, is setting up a fund to invest in drone technology to bolster its position in online shopping delivery. let's go back to morgan stanley's china summit in beijing. tom mackenzie joining us from their. take it away. i am joined by grace ng, the chief financial officer of sf holdings. the group's cfo, thank you for your time. the logistics business is undergoing fundamental changes. you are investing heavily, you are a major player. how much value do we expect to see generated in this sector? >> maybe i can speak about what is happening. it has been growing at a rate of 40% or 50% each year. that is the e-commerce. we see a turning point that industry growth rate has been slowed to around 24%. we see the reason is customer needs turn more high-end. driven by the middle class or higher spending. onthink sf has been focusing a premium. we think we are at a very good turning point that we can capture the growth going forward. the first quarter of our business growth is around

yvonne: i'm yvonne man in asia.edged fed inflation is close to target without indicating any intention to veer from the path of gradual tightening. growth in the first quarter, removing and reference in the first statement that the economic outlook has strengthened in recent months. they balance that out by noting solid growth in business investment. starbucks has settled with two blackman wrongfully arrested -- two black men wrongfully arrested and promised to pay for their college education. they settled with the city for a symbolic one dollar each, and the promise of a $200,000 program for young entrepreneurs. starbucks has called the arrest reprehensible and closed thousands of stores for staff training. trump's lawyers says they are still open to him giving an interview to robert mueller, despite a key departure of an advocate. rudy giuliani spoke as the president's legal team challenges unfolded. ty cobb is being represented -- is being replaced by a lawyer who represented bill clinton during his impeachment h

yvonne: i am yvonne man.king a dramatic about turn on china, ordering the commerce department to help wireless company zte stay afloat in america. kathleen hays has the story for us. bywas a very dramatic sweep the president. why is he saying this now, and what is the rationale? kathleen: we would have to get donald trump onset, but it is interesting because this is right smack in the middle of the trade talks that just occurred in beijing, on getting ready for another round of trade talks in washington with xi jinping's number one economic advisor. and the zte has a dramatic story. back in april trump ordered the congress department to cut them off from u.s. suppliers because they violated the sanctions against north korea and iran by selling them telecommunications equipment. as that has happened, this has had a very big effect on zte, choking the revenue. they suspended operations. they are saying the next two weeks are crucial, and administration officials told bloomberg that the chinese expected a revers

yvonne: i'm yvonne man in hong kong.earnings expected for the ceo. at 1:25 p.m. tokyo time we have to look out for the earnings, earlier than we are used to. there will be key questions analysts will be asking during the call, in particular when it comes to competition in the u.s. take a look at the function on the bloomberg. put in the ticker for toyor, and you can -- toyota. you can see in the orange bar, the u.s. is the largest market, north america one of the biggest for toyota. we have seen intense competition, they rely heavily in this market. the key question is if you continue to spend to boost incentives or preserve your margins, given the fact that all of these other japanese carmakers are slowing transition into china, toyota has not followed suit. the u.s. is a pivotal market and one to watch out for. yvonne: those incentives enabled bad behavior among consumers. they get used to it than you can get yourself out of offering these incentives. it seems like to go to is getting hit on many fronts. in particular,

yvonne: right.eeing the likes of what we are seeing in the bond market when it comes to italy, spain, portugal. we are seeing the rush to havens such as treasuries as well. classic risk off. take a look how we fared in the u.s. after that memorial day holiday. we did see that risk off session. risk sentiment improved a little bit towards the end of the close. the dow closing more than 1.5%. down. the 10 year yields is what we are watching as well. take a look at what we are seeing from the bond market. there is that rush to the u.s. dollar as well as treasury yields. u.s. 10 year. we have not seen a move like that since the likes of the brexit vote. the euro dollar also at 1.15 now. the italian two-year yield, the from anything we have seen over 20 years. 186 basis points at 2.77. just a couple of weeks ago, 15 days ago, these yields were in negative186 basis points at ter. haidi: a huge jump there. not to forget that corporate italy also bearing the brunt of this selloff as well. you are seeing the

yvonne: i'm if on. -- yvonne man.lson, in kevin riverfront investment chief market strategist. he joins us from richmond, virginia. taking a look at the development we've seen overnight with italy, our last guest saying, this feels a little bit different. perhaps the things could be a turn for the worse. does this have a whiff of what we saw in 2011 and 2012 of a sovereign debt crisis in europe? >> i don't think that it is going to be a sovereign debt crisis, per se. 2011, you saw greece and you were worried about the peripherals, for right now, it is concentrated in italy. most of italy's debt is held domestically. i think it can be something that can be contained to just italy itself. --e: what should i make these might just be short-term when i seeuld i make bond yields in portugal and spain? i see portugal, greece, yields up overnight. is that simply a transit factor of repricing, or do you see this spreading? right now, i think i see it as being range-bound at the moment. markets tend to overreact a lot of times

yvonne: 7:00 a.m. here in hong ong. i'm yvonne man. welcome. rkets face a mix start after wall street closed little change. treasury yield topping 3% again. 200 mainland mpanies selected to join industries. just app after 7:00 p.m. in new york on this monday. betty liu. china looks again at qualcomm's .id for . louis's jim bull lard is worried about the economy. betty: eon -- yvonne, it was central banks that pushed the rkets today and starting out with the comment coming out on francis ville roadway, who was talking about the effort c.b. and the end of bond-buying program and noted to market par 'tis pants hikes were going to follow in months, quarters, ertainly not in years and that kind of speek spooked the narkts. -- markets a bit. show a chart of synchronized arraignment rises. yields on pretty much all the developed markets, government debt is on the rise. see the -- with the s., germ any, as well as the u.k. it's per septemberable now and we're in this synchronization when it copts remains. yvonne: right. surprise given that we were hear

yvonne: d.c. that this italy do youon could derail -- see that this italy situation could derail purchases? ed: i will say not yet. in part, the asset purchase program is not the right tool to deal with the situation. the ecb could pull out extraordinary measures, something called the omt program. the threshold for that is quite high. we need to see a higher degree of dislocation and markets and we need to see agreement between the sitting government in italy to move that forward. it has a relatively low impact on the market, $30 billion a month. phasing that down to zero will not be material, in my mind. what is important is that first hike. as that first hike comes onto the horizon, we will see repricing and that is what we are looking for. yvonne: we will leave it there, ed, joining us from new york this morning. how a company plans to keep shareholders smiling. first, new infighting at the white house over whether the china trade war is on hold or not. we get the latest from washington. this i

yvonne: i am yvonne man in new york -- in hong kong.losest up, america's allies will impose tit-for-tat penalties after the u.s. confirmed tariffs against them. commerce secretary wilbur ross issued duties on steel and aluminum to the european union, canada and mexico, on grounds of national security. the e.u. says it will retaliate immediately. mexico said it will impose tariffs on a number of goods, and canada says washington's decision is baffling. >> there were other scenarios. it is unfortunately the worst case scenario, imposing tariffs on your allies. mexico had already consider this scenario. we announced today we would take action. canada could be considered a national security threat to that -- the united states is inconceivable. house says it expects a north korean delegation to visit washington on friday to deliver a letter from kim jong-un. talks trip would follow spymaster,'s veteran kim young chol, and mike pompeo in new york. both sides are preparing for a historic summit in singapore june 12. >> this is a difficult chal

yvonne: i am yvonne man in hong kong. the former r.b.i.unded a warning on china's potential dominance of high-tech industries including artificial intelligence. the economist told bloomberg that beijing has greater inch -- ability to intervene in the markets. >> what china has which for example was not as easy in the u.s. is the government can locate losses a lot more than for example he can in the united states. even though the bankruptcy system is not as effective, the ability of the government to say extent this loan and don't demand that it be paid back now, because a lot of the money go through the public sector system, it has some credibility. eventually they want a market system to work also have to move away from the sense that it gets into trouble, they have to let the market do a lot more. but at this point they have the ability and are using some of it . the special-purpose vehicles that local governments have issued, if you were in trouble, that debt has been extended almost by fear. reporter: what about china moving away more

yvonne: i am yvonne man, you are watching daybreak australia.ck of the business flash headlines, qualcomm reporting a meeting of regulators this week in a bid to win clearance for a $44 billion pursuit of an xp. they will talk to authorities in beijing before wilbur ross arrives for trade negotiations next week. qualcomm is cautiously optimistic the merger will gain approval. haidi: some of china's biggest tech names are buying into what promises to be the mainland's biggest ipo this year. tencent is investing in the foxconn industrial internet. they are spending the equivalent 1.8 million shares ahead of that upcoming listing. yvonne: xiaomi said to want a june 7 approval to list in hong kong. they could raise $1 billion u.s., and the smartphone maker hopes to help next month if the application is given green light. but this could slip given the volume of information demanded by the hong kong exchange. the listing could value xiaomi at $70 billion. we will talk more about these next. we are live in beijing for in depth discussion whether more c

yvonne: i am yvonne man in hong kong. the first word news with courtney collins. >> malaysian prime minister mahathir says he hopes to be sworn in thursday after leading the opposition to a historic victory. -- he hasalliance promised to stand down and install jailed former leader as prime minister after anwar is released. >> he will be released in june, i think. pardon.work for his [indiscernible] he will have to stand for election in order to become a member of parliament. at&t andies including korea aerospace are under scrutiny after claims they put money into the account of donald trump's lawyer and longtime fixer michael cohen. this was in a dossier released by the lawyer for foreign actress stormy daniels. firm's paid money to trump for how to address health care matters. senate committee she does not believe torture works and would not carry out any presidential orders she believed were immoral. following the 9/11 acts, gina theyl fran a prison where were water boarded. tonever, ever take cia back an interrogation

yvonne: i'm yvonne man in hong kong.ion has pushed a trade war down the world by delaying a decision on tariffs. the european union is worried about the uncertainty and its effect on business. let's get the latest from kathleen hays, who is watching this out of san francisco. the eu complained so far, it seems like there is a relief, but some frustration. kathleen: there is frustration. i am one of the people who is guilty of making up their mind and changing it. you drive people crazy. imagine if you are the leader of a country trying to figure out if you are going to get an exemption or not. of course, when angela merkel was speaking to the president caseweek, they made the that they were friends of the u.s. donald trump can't make up his mind. late monday night, the white house announced an agreement with argentina, australia, and eu, extending it to enable time for more talks. this does give everybody more breathing room to make their case, to negotiate back and forth. wilbur ross speaking earlier to bloomberg televi

yvonne: i am yvonne man in hong kong.atching "daybreak asia ." >> north korea is preparing to enjoy its main nuclear testing sites, even as president trump raised doubts about the historic summit. selected media have been traveling to the base to witness the event, although independent nuclear inspectors have not been invited. seoul and washington interpret the destruction of the site a sign of good faith. >> we have made zero concessions to chairman kim to date, and we have no intentions of doing so. > >> the latest fed minutes say it warrants another rate hike soon, and they welcome a modest overshoot of the 2% inflation target. the fed is on track to raise interest rates next month, but officials remain reluctant to declare victory on achieving their inflation goal on a sustainable basis. and toyota fell on news the trump administration is considering slapping tariffs on imported vehicles. 25% is reportedly under discussion. the plan is said to be in its early stages and likely to face significant opposition. global ne

yvonne: i'm yvonne man in hong kong. sony is unveiling its three-year plan. the news earlier that sony will buyout emi music publishing. take a look at the stock price. shares are falling, reacting to these three-year plans. let's talk more about raising the targets for their goals such as intellectual property. also when it comes to their chips division, and operating goal of ¥160 billion. a lot of lines coming through here. let's bring in our next guest, asymmetric advisors senior strategist. think you for joining us. looking at the news so far of the three-year plan, what is your initial take? what he think shares are falling at the moment? take is that it is a very conservative number, just like their previous three-year plan, which ended operating profit just over ¥200 billion higher than what they had been targeting. these forecasts are very achievable. operating profit on the gains side to 160 or whatever that number was seems very small. modest as a target. so does the semiconductor business. but that is the way sony operates. they do not really put o

in the past year, yvonne hasn't been able to visit her mum. why? well, because yvonne has been in a detention centre. so, how long were you in yarlswwood for? for eight months. eight months? it was terrible. we are human beings. and when they want to deport anybody, they handcuff you with your hand behind you, sometimes the ladies, they take them in their nighties. yvonne was released from yarl‘s wood just a few days after this statement was published by the home office at the height of the scandal.

yvonne dukie does have quite a bit of experience. i think that jimenez right the government does have to get very deeply involved in these rural areas who which have been ungoverned for many many years land ownership. is in disarray a titles to land criminality and the only solution for all that is to involve the government and i would be surprised given yvonne dougie's history and politics and at the interim merican development bank that he doesn't know that and won't find a a very talented. team of people to begin to work on problems but it's really implementing a and setting a basis for a real economy a safer part of the country colombia is basically in a very messy situation at this point and. decay is is because been campaigning on a platform of a market friendly economics but if you look at the results of the first bands of the election these also some discontent among the. bill who believes that openness to worst mining big companies is undermining the basic tenets of the colombian economy is this something that could pose som

yvonne dukie does have quite a bit of experience. i think that jimenez right the government does have to get very deeply involved in these rural areas who which have been ungoverned for many many years land ownership. is in disarray a titles to land criminality and the only solution for all that is to involve the government and i would be surprised given yvonne duke is history and politics and at the interim merican development bank that the he doesn't know that and won't find a a very talented. team of people to begin to work on the problem but it's really implementing a and setting a basis for a real economy a safer part of the country colombia is basically in a very messy situation at this point and. decay is is big has been campaigning on a platform of a market friendly economics but if you look at the results of the yes first round of the election there is also some discontent among people who believe that openness to worst mining big companies is undermining the basic tenets of the colombian economy isn't this something that co

yvonne: i am yvonne man in hong kong. let's of the business flash headlines. t-mobile and sprint have stated their case for a merger. john ledger and marcelo clarity laid out the tire based on the announcement the company presented on april 29. it needs approval from the fcc and must clear antitrust hurdles at the justice department. the proposed merger four years ago was rejected. goldman sachs to pay about $110 million to resolve claims that foreign trade exchangers improperly shared information about client orders in rooms.nic chat the bank will pay roughly 50 family dollars each to new york's department of financial services and the federal reserve board. they will also provide regulators with a plan to improve internal control and compliance. betty: wednesday sees a big expansion in china's stock connect with hong kong. investors predicting greater volumes through the gateway. this up on quota will instinct to the equivalent of 7 billion

yvonne: our chief asia economics

yvonne: we have seen a mixture of bad news.ere's a chart for a viewers to see, but what i was looking at was the different markets in japan, the eu and the u.s.. we are seeing in japan a kind of rotation into defensive stocks, which is something we have not seen the rest of the world yet. jpmorgan is saying what is going on in tokyo is a harbinger for global stocks. do you think is a turning point for u.s. markets? linda: in the short-term, given heightened and negotiations with china, you can move more defensively. if you think about what drives the markets higher, increase in earnings, the fed will remain patient, interest rates that will not be increasing, that really bodes well for the cyclical sectors of the market. although we believe in a more , i thinkportfolio tilting more toward value cyclical will be the treading force for us in 2018. given how cyclical some of the markets in asia are, do you think they are reacting more sensitively to a possible slowdown in the u.s. economy? is there is still a concern up there that

in the past year, yvonne hasn't been able to visit her mum. why?vonne has been in a detention centre. so, how long were you in yarlswwood for? for eight months. eight months? it was terrible. we are human beings. and when they want to deport anybody, they handcuff you with your hand behind you, sometimes the ladies, they take them in their nighties. yvonne was released from yarl‘s wood just a few days after this statement was published by the home office at the height of the scandal. free citizenship was to be given to the windrush generation and their children. home office statements, though, aren't always what they seem. last week, the government published new guidance caveating that statement. yvonne came to the uk as an adult and so, in fact, is not eligible for citizenship. do you think the government has helped you ? no, i haven't got any help, as yet. the government hasn't helped you at all? no. hasn't contacted you? no. so, what's your current status, now? i'm still illegal. and that means you could still be deported ? yeah. and how does th

yvonne dukie does have quite a bit of experience. i think that jimenez right the government does have to get very deeply involved in these rural areas who which have been ungoverned for many many years land ownership. is in disarray a titles to land criminality and the only solution for all that is to involve the government and i would be surprised given yvonne duke is history and politics and at the interim merican development bank that he doesn't know that and won't find a a very talented. team of people to begin to work on the problem but it's really implementing and setting a basis for a real economy a safer part of the country colombia is basically in a very messy situation at this point and. decay is is big has been campaigning on a platform of a market friendly economics but if you look at the results of the yes first round of the election there is also some discontent among people who believe that openness to worst mining big companies is undermining the basic tenets of the colombian economy isn't this something that could po

is go to yvonne who is looking at the market last let's go to yvonne who is looking at the market.here's a lot for investors to through today. yvonne: especially looking at individual. a rising dollar coupling with yields again. yields a bit lower. standoffnd is the after dovish comments from the new governor, saying we could actually have both ways when it comes to rates. perhaps, we can see rate cuts in the picture. equity markets continuing to be in the green. energy stocks obviously fueling the storm. still however euros 71. that is a barrel for new recruit. -- for new york crude. we see cpi edging lower. prices bouncing back. we feel more momentum here. things have bottomed out in the month of april. it could be a good signal for the shanghai composite. feuded -- pretty muted reactions of our. -- reactions so far. it is about the rupee other we have been seeing. it is hovering around the eight-month low. goldman sachs they could be hiking rates, not in the may meeting, but perhaps june. the risk of the hike is raising given what we see in the currency markets, and with yields

yvonne: to see more consolidation? speak to europe on whether there will be consolidation or not. i think there will definitely be consolidation in the united states. it is driven by how much companies are spending versus much smaller amounts for regional banks. the regions will have to merge. yvonne: when you talk about excessive leverage, is that where we are going to see the root of it now in this time of the cycle? where do you think china is in the cycle at the moment? >> i am not going to comment on china. i do not think it would be appropriate for me to talk about it. yvonne: talk more about the biggest long opportunities right now. you are very positive about the banks, technology is one of the biggest sectors. what do you think is the biggest opportunity for you in 2018? >> i think the biggest opportunity is long-short is making a come back. there are more ways to make money on the long side and the short side. in the past, it is really on the long side. there is more volatility and i think the volatility is h

yvonne: taking a look at the moves that we saw when it came to the lira, we are seeing a little bit of respite when it comes to that depreciation. i have a chart that highlights what we have seen, but it has keyen out from the technicals of where the lira is. when it comes to central banks, are they doing enough?

let's get the first word news with yvonne man. yvonne: interest rates unchanged. inflation is close to target. the fomc also did a weakness and growth for the first quarter, removing a reference in the merchant statement that the economic outlook has strengthened in recent months. they balanced that out by noting solid growth in business investment. the world economy shows signs of stabilizing after a recent moderation with manufacturing activities strengthening for the first time this year. crossed more than 40 countries, raised to 53.5 in april, marches six-month low of 53.3. the numbers reinforce advice not to betan chase against the world economy just yet. president trump's massive fiscal stimulus plan are adding to the u.s. debt overload and forcing the government to drive a bond issuance is the fed shrinks its balance sheet. the u.s. treasury is boosting the amount of long-term debt it sells to $73 billion. it is investigating adding another five-year sale with regular calendar. and planning to issue a new two-month build -- bill in 2018. the political consu

yvonne: we will go back to day two of the jpmorgan global summit in beijing.heard from jamie dimon of the 4% yield as the economy continues, it rallied a lot of -- rattled a lot of analysts. we will talk to the asia chairman exclusively, joining us on the 8:00 hour. he will talk about the rise of the innovative chinese companies over the next decade. that will be a key focus for the next couple of years out of china. also, talk more about the competitive landscape change in the onshore market of the next few years. what could we see as a result of this opening. betty: we will talk more about the impact on the u.s. pulling out of the iran nuclear deal. daniel hynes joining us to talk about his outlook for oil. he sees brent crude at $80 a barrel. wpi not far behind at $79 a barrel. noting the u.s. pulling out of the nuclear deal will reduce output by about 200,000 to 300,000 barrels a day. he will give his take on what that means for not just oil prices, but energy industries as well. haidi: absolutely, our top story today. we are also watching malaysia as the

i am yvonne man and welcome to "daybreak asia."ific markets set for declines amid rising trade tensions. the s&p fell for the fourth time in five days. tariffs are to blame. trump has metal penalties against america's closest allies. they say they will fight back. ramy: i am ramy inocencio in new york. the u.s. and north korea move ever closer to that summit after high-level talks right here in new york.

asia with yvonne and betty. ♪ yvonne: 7:00 a.m. live from bloomberg's asian headquarters. welcome to "daybreak australia." the top stories this tuesday, nuclear options. president trump to announce the decision on tuesday as allies make their final pitches to fix that. stocks also paring gains as investors try to read the president's mind. betty: i am betty liu in new york, where it is just after 7:00 p.m. on this monday. china's top economic advisor to visit washington next week for another round of terror talks.

you with us tens of thousands of protesters have taken to the streets of the armenian capital yet yvonne to join a general strike opposition leader nicol passion yon urged his supporters to bring the country to a standstill after he failed to secure enough votes in parliament to become prime minister passion jaan was the only candidate and had expected a different result. this is not how the vote was expected to go. was full of enthusiasm and high expectations tens of thousands had come to catch the moment of their protest leader became prime minister. then excitement gave way to sorrow. the are good and i'm going to do we have to win we can't go on like this and he will you know not only nationally this is our life they don't have the right to rule as if we don't want them famously all the people out here everyone and they have to trade us . wasn't us on the view they are all mean is ruling republican party of my after a day long session in column and the writing was on the wall eventually the votes were two. of the republicans would not back the opposition leader to take the reins and

of the peace agreement there's just so much undone in the peace agreement my own guess is that in yvonne dukie is going to be more likely to try and begin to manage this in a way that moves the process along that begins to reset on those people that had to flee the violence that begins to deal with the criminality that has crept into areas that were managed by the fark there needs to be a huge infrastructure to begin to create an economy and much of that that region. and then you're going to have the venezuelans who are fleeing from venezuela.

yvonne: talk more about the biggest, long opportunities right now.positive about the banks. technology is one of the biggest sectors. what do you think is the biggest opportunity for you in 2018? >> i think the biggest opportunity is i think long-short is making a come back. there are more ways to make money on the long side and the short side. in the past, it is really on the long side. there is more volatility and i think the volatility is here to stay. and so, running a hedge portfolio makes a lot more sense. yvonne: what do you make of just -- i know you are saying you're not looking in the fixed income space right now. is it because you are seeing how much higher yields can go? >> i think, look, qe is over. rates are going up. i just do not see many opportunities in the bond market. call me in two years and we can talk. [laughter] julia: coming up, we will dive deeper into the week's company news and run through another array of earnings reports, and more exclusive interviews just ahead with policy thoughts from prominent central bankers. >> tha

yvonne and ramy up next on daybreak asia. what are you watching?e watching the gdp numbers from japan in the first quarter in the next hour. we are expecting a soft patch, contraction in the economy for the first time in two years, but a lot of economists saying this is down because of weak household spending and some unusual weather we have seen. we are also going to get a little bit of market reaction from wells fargo asset management global cio kirk hartman. this is bloomberg. ♪ mr. elliot, what's your wifi password? wifi? wifi's ordinary. basic. do i look basic? nope! which is why i have xfinity xfi. it's super fast and you can control every device in the house. hey! let's basement. [ grunting ] and thanks to these xfi pods, the signal reaches down here too. so sophie, i have an xfi password. and it's "daditude". simple. easy. awesome. xfinity. the future of awesome. yvonne: 7:00 a.m. here in hong kong. we are live from bloomberg's asian headquarters. i am yvonne man. wall street's biggest fall in three weeks, said the heard asia. yields at the

i am yvonne mann. david: let's pick up where yvonne left off. at indonesiang down to dollar.e about this later on. we go to the turkish lira. a record low as well. we also heard from the fed chair, jerome powell. he said the central banks plan to gradually raise interest rates. this has been clearly communicated. he is confident emerging markets can deal with it. i do not dismiss the perspective of risks emanating from global policy normalization. and institutions may not be well-positioned for rising interest rates, even one that markets probably anticipate. future economic conditions may surprise, as they often do. david: for more on this market story we are joined by our bloomberg mliv market strategist. we can't say we didn't see this coming. there has been a tightening for the last couple of months. the big change in the last few weeks was the dollar depreciated as well. there is a combination of u.s. yields and dollar that really controlled the overall policy conditions for em. we have conditions for the first time in many years, the dollar and u.s. yields rising simult

this is bloomberg. ♪ yvonne: i am yvonne man, welcome to "daybreak asia."es this friday, positive after wall street's rally to a seven-week high. see you in singapore, president trump confirms the summit with kim jong-un will happen in the lion city on june 12. in newi am betty liu york, after 7:00 p.m. thursday. focus on the economy, mahathir mohamad promising a business-friendly malaysian government. many heads roll after the 1mdb scan

daybreak asia next with yvonne and betty. bloomberg. ♪ yvonne: it is 7:00 here in hong kong. welcome to "bloomberg daybreak: asia." top stories, president trump cancels the north korean summit and says the u.s. military is ready for anything. a moresident used traditional form a message to convey his message, saying he still hopes to meet kim someday. betty: it is just after 7:00 p.m. in new york. gold stock has gained in a month and yen is rallying. as unlikely as it seems, amazon tries to explain how alexa

yvonne: yes, we are talking more about the u.s. and china.as been a break i guess you could say protect superiority. who has the most unicorns, we've asked that question. robert hillard joining us in a couple minutes time, he has been excited about the private tech companies coming into the public markets. tencent music is one of them. and what excites investors at this stage, because you take a look at the performance of the tech companies in hong kong and bit ago, good doctor, china lit, they have all been well offered. they have had the initial buzz since their listing. is it a sign of exhaustion or what? betty: that is a lot of ipos committed the market, becoming a more credit market. the private banking chief investment strategist has a rasco will be joining us. yvonne: he said his first and favorite place to invest is in asia. quite bullish. inflation there is watching, that is a trend he continues to monitor very closely, as i am sure the fed officials are as well, as we have heard from neel kashkari. haidi: and we will get more analys

the tensions here are very high at the moment and this is all related to the concern of israel that yvonne is building up its military capabilities in syria which would bring them very very close borders ok with that in mind just how concerned is the israeli defense establishment and right now about in a rainy and reprisal attack. well there is very much concern we've been hearing that for the past days then that in the tuc might be imminent and that's why you see in this unusual step of ordering that the public shelters in on the israeli controlled part of the golan heights would be should be opened so what we're seeing is a constant you know a build up of tensions on the north and borders so far tony kramer with the latest for us from jerusalem tanya thanks very much. it's over the market now one intention of the reimposing of sanctions on iran is of course to damage that country's economy and that will have a knock on effect on all of its business partners including germany certainly a lot here in europe brian european business leaders are ready to say that they regret washington's deci

i'm yvonne man. this is bloomberg. david: thank you.of returning to surplus, we could see a return to deposits here when it comes to chinese rate which should be out any moment. rebounds,speaking, slightly bigger surplus as well. becauseed to move away of the chinese new year. is here with us. they're nice to see you. qu: -- very nice to see you. qu: a pleasure. david: we have seen a rolling over of several data points not just in china but across the asia-pacific. will this be a weaker set of numbers or are things just ok? qu: i think there are some increasing uncertainties. particularly given that in the recent space we have seen pmi numbers show some kind of weakness in terms of export offers. therefore i think there are some rising uncertainties in terms of the extent of the amount of asia countries. china in particular. we all know on top of rising of the we also have kind u.s. trade tensions. going toably is also lead to uncertainties in terms of china's outlook for chinese export growth's. david: that is a moving target where the

. >> my name is yvonne piper on the nurse practitioner here at sf city clinic. he was the first time i came to city clinic was a little intimidated. the first time i got treated for [inaudible]. i walked up to the redline and was greeted with a warm welcome i'm chad redden and anna client of city clinic >> even has had an std clinic since all the way back to 1911. at that time, the clinic was founded to provide std diagnosis treatment for sex workers. there's been a big increase in std rates after the earthquake and the fire a lot of people were homeless and there were more sex work and were homeless sex workers. there were some public health experts who are pretty progressive for their time thought that by providing std diagnosis and treatmentsex workers that we might be able to get a handle on std rates in san francisco. >> when you're at the clinic you're going to wait with whoever else is able to register at the front desk first. after you register your seat in the waiting room and wait to be seen. after you are called you come to the back and meet with a he