let's get to vonnie quinn. vonnie: jamie dimon says he regrets making that with that his bank is likely to outlast china's communist party. in a statement, he said his comments were trying to emphasize the strength of his company. jp morgan has $21 billion of exposure in china and ambition to expand further. china's tech industry regulator has ordered tencent to stop rolling out apps. sources say updates are on hold though current versions can be downloaded. tencent says is working to enhance features and cooperates with government agencies to ensure compliance. the european government is debating new measures. germany may consider vaccine mandates. denmark is seeking to make masks mandatory on public transit. the eu has delayed new guidelines as it waits for data on efficacy of vaccines. opec says the release of oil reserves by assuming nations could massively slow the surplus in global markets. the protections from the advisory body come a week before the group meets to decide whether to increase production.

i am vonnie quinn. japan is planning to release some of the strategic oil reserves at the request of the u.s. the report came shortly after the transport secretary said the government was considering tapping crude stockpiles although he said no decision had yet been made. over the weekend, it was reported that japan and the u.s. could make a joint announcement on oil reserves, as soon as this week. the federal reserve looks on course to consider more rapid drawdown of its massive bond buying program as inflation pressures linger. several policy makers signaled a tapered might be on the table when the fomc meets on december 14 and 15. they are on track to finish the process of qe in may 20 22. >> the rapid recruitment of the liver market have pushed me towards a faster pace of tapering and more rapid removal of accommodation in 2022. vonnie: a chinese competition watchdog has ordered companies including alibaba, tencent, and baidu to pay 3.4 million dollars in fines for antitrust violations. the companie

i'm vonnie quinn. this is bloomberg. haidi: still ahead, bets are rising for a 50 basis point hike from the new zealand central bank. we will be talking to the prospects and the outlook, we will be talking to the prospects and the outlook. the expectations for a hawkish fed as well. more with ubs asset management later. this is bloomberg. ♪ shery: oil markets in focus as wti is under pressure in asian trading, but only after seeing the best day in two weeks in the new york session. investors are awaiting a response from opec-plus on coordinated moves by the u.s. and other countries to tap their stockpiles. david, this release of crude into the markets not having the planned or hoped-for response. david: that is absolutely right. oil had a big jump on tuesday. we have seen and give up some of those gains in early trading in asia this morning, but in general we are seeing a pretty underwhelmed response to those plans from the u.s. and plans from other consuming nations will be looked at later. even though that headline f

let's get to it vonnie quinn. vonnie: attorneys man says his company faces downward pressures and must curb taxes. this will address problems faced by small and medium companies. during a visit to china's top market regular, he said the company needs to curb cyclical adjustments. there is are seated with a more conservative fiscal and monetary approach. advisors to the u.s. and cdc pfizer shot -- to the u.s. cdc it back to be pfizer shot for children ages five to 11. they only need 10 vials incentive -- the cdc director must sign off before vaccinations begin. the biggest class of new managing directors ever. six under 43 members nominated, a 40% increase from two years ago. goldman says part of the reason for the jump is an increase in headcount at the firm. women account for fewer than one in three of promotions and that is roughly in line with recent levels. black and hispanic employees each make up 5% of the incoming class. prosecutors have indicted the former -- and his heir apparent. he owes $2.2 million eig

let's get you to first word news with vonnie quinn. bonnie: power supply has returned to normal across most of the country. electricity is now only being restricted for some industries in selected provinces. it warns it will take a balancing act over the winter. the company supplies power to 1.1 billion people, 88% of chinese territory. china posted a record monthly trade surplus in october. experts -- exports surged 27% from the year earlier to more than $300 billion. that was the 13th street much of table -- 13th straight month of double-digit growth. china's exports through october have surpassed all of 2020. president biden says he will sign off on the biggest u.s. infrastructure plan in decades. the house passed the bill late friday night after voters -- the $550 billion measure includes money for roads and bridges as well as expanded broadband, clean water, power grid upgrades , and pollution cleanups. elon musk social media followers voted that the tesla chief should sell 10% of his stake in the electric carmaker. about 58% of 3

i am vonnie quinn. this is bloomberg. haidi: still ahead. our guest will join us to discuss houtz sustainability leader counsel would advance the climate change agenda in asia. coming up next, we discussed how advances impacting them get the broader outlook as well. this is bloomberg. ♪ shery: markets closed at a record high. we had strong corporate earnings outweighing disappointing eco-data. our next guest says excess liquidity should feel like there rally in the u.s.. let us bring in this ceo and chief investment strategist at er shares. always great having you with us. let us get you started with this chart on the bloomberg. it shows how we continue to see these record margin expansions despite the fact that we have these supply chain disruptions. going into the year end, do you expect bottlenecks to ease and will that help the rally? how fragile could it get? we see these input costs rising. guest: the disruptions are here tuesday. for the foreseeable future. they might come down a little bit but

vonnie quinn is in new york. vonnie: china's economy showing signs of further weakness with pmi coming in below forecast. manufacturing pmi 49.2. the nonmanufacturing gauge with that 52.4. both manufacturing and services took a hit, strip over controls. the japanese prime minister preserved his hold on power despite losing some seats, the ldp appears poised to keep its outright majority. avoiding the worst case scenario. the results leave the ldp with the slimmest of majorities. emmanuel macron says australia lied. he was asked about the canceled deal to sell from submarines to australia. the prime minister later said he was clear in telling france its submarine would not meet australia's strategic needs. elon musk says he is willing to sell stock holdings to fight world hunger if the um -- u.n. -- he tweeted the statement in response to an official who specifically called for actions from the tesla founder and jeff bezos saying $6 billion could keep 42 million people from dying. global news 24 hours a day, on ai

i am vonnie quinn. this is bloomberg. haidi: ahead, we hear from the y lg bully on an future ceo -- gold and bully on -- bullion -- y lg bullion future ceo. haidi: the bank of korea and the reserve bank of new zealand certain to raise interest rates again. let's bring in kateri not. -- katrina. look at where the policy right stands now and what the market is preparing for going into the end of 2021. the market price is at 1.5 hikes. is there a strong reason for them to go harder? katrina: there is a bank of new zealand hike. there were .75% -- 0.75%. given the economic environment we are living in due to covid, i think it is prudent to go with 25 basis points or higher. they want to take the parsed -- path of least regret. that is taking a more cautious approach to monetary tightening giving -- given the economic environment. haidi: when it comes to korea, it looks like according to the latest analysis that it may finish its hiking cycle by the time others are getting ready to start. look at this chart. they might be ahea

i'm vonnie quinn. this is bloomberg. rishaad: tencent earnings preview. sales of china's regulatory crackdown clouds in the tech giant. yvonne: a look at same-sex relationship rights in japan. our guest helped found the organization that promotes lgbtq plus inclusion in offices. this is bloomberg. ♪ >> i think that regulation and a lot of the things that are bad for the economy, need to be solved. for tencent, there is some internal issues. for example, the lack of data integration and the low converging of the traffic. the lack of the video app. internal issues are more difficult to be solved. >> short-term, there many regulations to work through. impact will take some time to get digested. we have to see estimates and expectations. longer-term, i think the structural demographic growth of china, the world's largest digital economy,. -- digital economy. rishaad: giving their views on tencent. yvonne: tencent said to report slowing sales growth for the sixth straight quarter. results will shed light on how china's tech

vonnie: 10:29, new york. i'm vonnie quinn. the rba says inflation is different from any other advanced economies with consumer price gains in the picture. the ministers at the central bank's november meeting sages disabuse universe to the inflation forecast have widened. and how wages responded to very low unemployment. twoo forme -- two former fed president says that they will have to change their rate to 3% to keep inflation in check. they tell bloomberg it is possible the fed funds rate will go as high as 4%. former new york fed chief said markets are underestimating the pace and scope of hikes. think of england governor andrew bailey has hit back at critics accusing them of misleading markets before this month's rate decision. he told lawmakers on the treasury committee that investors took a conditional statement on the direction of interest rates and turn them into unconditional views of the world. the boe has rates unchanged at its november 4th meeting. it is said to have missed bond payments. the developer had coupon pa

i am vonnie quinn. this is bloomberg. >> democrats received a harsh warning about their hopes for keeping control of congress in 2022. voters in virginia, new jersey, and across the country flocked to republican candidates, less than a year after joe biden took office. joining us for the latest is our reporter. perhaps a sigh of relief with governor phil murphy getting reelected in new jersey? >> free democrats, yes. -- free democrats, yes. new jersey is a state that president biden won 16 points, and for the race to be that close is concerning for democrats. in virginia, biden won by 20 points in 2020 now glenn young kin sophie: -- won it. democrats say they have a lot of soul-searching to do. they say they need to make sure they pass the two key pieces of president biden's agenda, the bipartisan infrastructure bill, roads, bridges, traditional infrastructure, and the crucial welfare and tax package, like childcare, eldercare, health-care, employment change. democrats have been working on these bills f

i am vonnie quinn. this is bloomberg. ♪ rishaad: all right. still ahead, bloomberg markets, investors are on high alert. the chinese communist party is beginning a platinum that could usher in -- a plenum that could usher in a long-term rule. yvonne: plus, how long can china maintain this commitment to covid zero question mark consider that with a university school of public health professor, benjamin john cowling trends as soon. this is bloomberg. ♪ ♪ david: welcome back to the show. it is a big week. i know that we say that every monday, that this monday is different. every five years you have this big meeting that rumbles around the world, largest economy, china. the communist party has its sixth plenary session that sets the tone for long-term common prosperity. prospects for the country's five-year plan. david: we have xi jinping going for -- it is unprecedented in recent times, third term. of course the two other presidents had, i suppose, a lifetime residency. he has secured power for himself. but maintaining

let's get to vonnie quinn. vonnie: the u.s. secretary of state antony blinken says allied nations are prepared to react if janet uses force against taiwan. it is unclear whether a buying lead response would involve the military. speaking in a new york times conference someone added they do not want an interruption to the status quo. chinese president xi jinping is set to deliver the first resolution on communist party history, giving them the mandate to rule for life. the party wrapped up a four day meeting. only two others have altered historic resolutions and both used their works to dominate party politics until they died. the european union is said to put on a temporary waiver letting has so many managers to play trade in the united kingdom. europe has been pushing for more financial activity to move into the bloc. officials decided the existing timeframe was too short. the length of the proposed extension is still unclear by that is expected to be revealed early 2022. wall street is warning of major job cuts ahead. almost

here's vonnie quinn. vonnie: samsung electronics reportedly building a $17 billion chip making plant in the city of taylor, texas. there are unindent five sources saying confirmation should come soon. governor greg abbott is set to make an announcement tuesday at 5:00 p.m. local time. the facility should create about 1800 jobs with chip output expected to start at the end of 2024. china is said to be tightening approvals after rapid expansion in trading. recently they closed a soft track of channels. it also rejected applications that use token amounts to launch two offerings. . chinese fund assets have soared almost fivefold in the past two years to over $220 billion. . the u.s. says trade with china -- the u.s. says trade with india is falling short of significant potential. washington's envoy made the comment on her first visit to india as the two countries seeing -- seek to reach trade talks before president biden reached office. talks will focus on growing trade in digital economies, services, health

let's get it to vonnie quinn in new york. vonnie:5 keqiang says his country's economy faces new downward pressure and must cut taxes and fees. state tv reported these comments during a visitto china's top. market regulator he also says the economy needs cyclical adjustments, a phrase associate with a more fiscal monetary approach. the billionaire founder of bytedance is reportedly resigning as chairman. zhang had already stepped down as chief executive officer in may. bloomberg learns the new ceo will replace zhang on the five-member company board. a source tells us zhang will still be involved in formulating longer-term strategy at the chinese tech firm. bytedance and tiktok declined to comment. the u.s. cdc ok'd pfizer shots for children age five to 11. the agency supported the decision unanimously for it was signed off on by the director. the decision widens access to vaccines to some 28 million people. pfizer is working with regulators on the distribution of these pediatric doses. they can only be sent in smaller packs. s

get over to vonnie quinn. vonnie: good morning. the by the administration has mandated covid vaccines for all staff at u.s. companies with 100 or more employees. workers must be fully vaccinated by january 4 or submit to weekly testing. employers that don't enforce the rule or deliberately ignore it say fine. a london court has allowed malaysia to continue its pursuit against abu dhabi's fund. malaysia's government challenges the arbitration settlement. the london case is one of a series of legal and regulatory investigations around the world linked to one -- 1mdb. >> two companies withdrew plans for etf's. it seems regulators are not yet ready to greenlight more complex derivative based cryptocurrency funds. >> i have urged us to rethink exchange traded products. i don't know whether that will change, but i -- my guess is that given the chair has signaled that he likes to see these products trade in regulated markets, that may be something that is standing in the way of approval. vonnie: the new york city mayor elect said he would

let's get to first word news with vonnie quinn in new york. vonnie: good morning. china announced efforts to phase out coal. china is struggling to meet its power needs and is now ramping up whole -- cold -- coal to record levels. bloomberg has been told top white house officials do not believe that fed chair jay powell's sale of shares in a stock index last year disqualify him for a second term. he sold stock worth between $1 million and $5 million last october. some within the administration still have concerns about that trade. mexico's central bank has raised interest rates by a quarter-point for a fourth consecutive meeting. policymakers are sticking to a steady adjustment space even at -- steady adjustment pace even as inflation accelerates. a chinese developer has reported -- reportedly told investors it may miss interest payment deadlines. the company had a $15.5 million coupon do thursday and a near $30 million one due friday. it reports that kaisa is still sorting through the matter and that nothing is set in stone yet. i'm vonnie quinn. this is bloomberg

this is bloomberg. ♪ vonnie: this is daybreak asia. i'm vonnie quinn. bloomberg opinion columnist is urging the fed to acknowledge that inflation is not transitory. he also told fox news sunday it's time for a change in policy and a new person in charge at the u.s. central bank might have found it easier to alter course. jerome powell has been renominated as fed chair last week and repeatedly said the fed is underestimating inflation risk. japan's retail sales increased for a second straight month, advancing 1.1% in october from the previous month and beating economist forecast. the numbers add to signs that households are resuming spending after a 30's listed an extended state of emergency. japan needs household spending to support the recovery as global supply chain destructions soften momentum from the export oriented industries. hondurans have voted in presidential elections that may upset the national party's 12 year rule and ends the nation's alliance with taiwan. the wife of a former president has been leading the polls. while the scandal hit rul

i am vonnie quinn. this is bloomberg. shery: ahead we will discuss china's property bond market with cms managing. the chinese communist party against a plenum. live to beijing next. this is bloomberg. ♪ shery: china posted a record monthly trade surplus in october. exports surged to despite global supply chain disruptions. let's bring in stephen engle in hong kong. taken as a whole, what is the overall picture? stephen: clearly, the trade situation is helping offset a lot of domestic headwinds in the chinese economy whether it is real estate, the power problem, sporadic breakouts of the coronavirus, this has dampened consumer spending and sentiment. of course, you still have globally supply chain bottlenecks. but again, exports are really beating expectations in october. it is the 13th consecutive month we have seen double-digit gains. the big spike you saw in february was seasonal distortions. it has been steady gains for exports in china. in fact, exports through october already have surpassed all of 2020. we are alr

vonnie quinn. this is bloomberg. haidi: still ahead, prices likely to decline from the fourth quarter of 2021 according to sk kim. we will be speaking with him. next, our exclusive interview with the atlanta fed president raphael bostic. this is bloomberg. ♪ is is bloomberg. ♪ kathleen: we would like to welcome our listeners around the world now. president biden's decision to keep jay powell in place a second term signals continuity with the central bank's policies. it comes as the u.s. economy faces critical challenges including the highest inflation in decades. we're joined exclusively by raphael bostic, president of the federal reserve bank of atlanta. welcome back to bloomberg television. i just have to put on the table a couple things. number one, do you like to be called rafael? i want everyone to know that is why i'm not can you president bostic. i want to start with the reappointment of jay powell. what it means to the fed's ability to execute policy. a lot of people are saying without the cloud of uncert

haidi: let's get you to vonnie quinn. vonnie: activision employees are calling on the ceo to be removed following reports he mistreated women and ignored claims of sexual misconduct. according to the wall street journal, he was aware of rates that happened in 2016 and 27 in but fails to report them to the board. the journal reports he was involved in several sediments where he himself was accused of mistreatment. activision says the report presents an inaccurate view. hong kong disneyland will be close to ensure staff members can lead covid toes. visitors and staff at the park between 11:00 a.m. and 6:00 p.m. on sunday are required to undergo testing by thursday. pfizer has asked regulators for emergency authorization of its covid-19 pill, the drug cuts hospitalizations in high-risk patients by 89% and can be prescribed for home use. pfizer says it has reached a licensing agreement with a u.n. backed group which will allow generic cheap versions of the bill. global news 24 hours a day, on air and on bloomberg quicktake, p

vonnie: this is daybreak asia. i'm vonnie quinn. evergrande signs of a liquidity crisis -- investors are waiting to see if the investor can pay its dollar coupon before it expires on wednesday. san francisco fed president said he expects supply chain constraints to extend into next summer's fashion summer. he held a virtual meeting and said inflation data is eye-popping but did not offer an outlook for rate hikes. bloomberg has learned a court in myanmar will deliver a verdict against aung san suu kyi on december 14. it will be the first ruling on the charges leveled against her since a military coup. she was detained as armed forces seized control of the government in february. she faces charges from corruption to unlicensed to a radio. claims alexander lukashenko is stoking a humanitarian crisis. polish troops used tear grass -- tear gas to prevent migrants from forming a barbed wire fence. thousands of refugees were found in the forest with temperatures dropping below zero. global news 24 hours a day on air and on bloomberg quick

i am vonnie quinn. this is bloomberg. >> coming up, we will get more insight on the week ahead as central bankers and opec assess the impact of the new covid strain. and shane oliver joins us next. this is bloomberg. ♪ >> entering a bit risk off day. >> this unwelcome news -- >> i can quite understand why financial markets are worried. >> on the back of thanksgiving. >> some of the investors will take some risk off the table. >> the time it takes to analyze the virus. >> every major nation should start dealing with this as if it is an issue just for their nation. it is not. >> the delay rather than a fundamental derailment. >> this is not the first covid, this new strain we are seeing -- >> we should not imagine the all is lost. it is not. >> some of our earlier guests commenting as the new variant roiled markets. investors will have an early opportunity to see how policymakers respond to these new variant fears. opec-plus will face the impact of the new variant. the emergency crude reserves after oil

in vonnie quinn. this is bloomberg -- i'm vonnie quinn. this is bloomberg. shery: still ahead, more countries report cases of the omicron variant. the latest on the global response next. this is bloomberg. ♪ >> it is not to the same level of downside we have seen. there have been restrictions introduced. what will happen is it will take some three or four or five days. >> i think investors should count to 10 before moving again. >> in the new term, a resurgence would be larger than the reflationary ones. >> if there is going to be a repeat of the winter lockdowns or lack of ability, it would be a surprise if central banks continued on course. more likely, they will delay pace of the start of their tightening process. shery: some of our guests weighing in on the omicron impact appeared more asian governments tightening their border controls as the new variant spreads further around the world. let's bring in our chief north asian correspondent. to the latest measures we are seeing out of asia? -- what are the latest measures we are seeing out of asia? dark a

i am vonnie quinn. this is bloomberg. ♪ yvonne: still ahead, we kick off our new segment focusing on southeast asia, on asean ahead. look at how the region is faring in its fight against the pandemic, and other challenges, with author and former diplomat kishore mahbubani. rishaad:. rishaad: and this chinese delivery company is posting its biggest loss in three years. . this is the outlook for the region's tech giants, with moody's investors service. that is underway next. this is bloomberg. ♪ this is bloomberg. ♪ yvonne: here is your latest check, mate -- you are seeing meituan after they recur outlook was forecasted for the company after reporting the steepest quarterly loss since 2018. this goes to show right now, the impact of the regulatory crackdowns is still very front and center. rishaad: also when looking at these platform companies, this is a statement from the market regulation, publishing the rebuke of such companies here, saying that they muscle into community group buying, fueling co

i'm vonnie quinn. this is bloomberg. shery: still ahead, softbank announces a big buyback after record loss at its vision fund. we get reaction from atul goyal. next, broader market moves with christopher smart, as investors anticipate the inflations report in the u.s. this is bloomberg. ♪ . this is bloomberg. ♪ haidi: take a look at crypto assets. shery: bitcoin hitting a record high and surpassing the mid-october high we saw, $66 ,539. above that $65,000 level. this coming at a time where we see the crypto industry hit $3 trillion in value. this, as we hear more warnings across the board, including from the fed's financial stability report, that perhaps this industry could pose emerging threats, especially in the form of stable coins. but the rally continues. the bloomberg crypto index, around levels that could reverse all of its losses from the may to july correction, and above that $3700 level as well. of course the rally in crypto assets coming with broader u.s. market rally as well. this of course thanks to a s

i'm vonnie quinn, this is bloomberg. haidi: oil edging lower. we get the price outlook later. the ceo -- the fed president said the fed should not overreact when it comes to what are probably temporary inflation measures. that conversation is just ahead of us. this is bloomberg. ♪ >> the recovery continues, and it's going to unwind. we can expect the price pressure on the goods and services to normalize actually. as a result, we still see inflation moderating into next year, but it will take longer to decline than we had already expected. >> the interest rate won't supply more gas or it will supply more computer chips. the risk for us is that we also see that, in this recovery, it is approaching being closed and the neighbor market looks tight. that is the big issue at the moment. >> i think they have made a mistake in the sense of things have slowed to it's hard to taper. they basically said we won't start to taper until we made progress towards inflation, now the taper will be completed until june of next year on the

i'm vonnie quinn. this is bloomberg. ♪ paul: still to come, we discussed the outlook -- discuss the outlook for commodities. our guest will join us to discuss, martin lakos of macquarie wealth management. -- let's discuss more with martin lakos, division director at macquarie wealth management. his president biden -- is president biden overcooking it a bit or does he have a point? >> he has probably overcooking it a bit. when you look at the statistics, this plan to slowly raise production, there's no doubt the white house wanted to see the fuel pump prices come down for consumers. when you look at the iea's forecast of demand, there's still a gap between demand and supply by about 1.4 million barrels a day, going into next year. that's probably a bit of a swing factor for opec and the opec-plus group. so at this stage, it is a little bit of positioning with regards to the pricing of the end products. from the supplant demand suspected -- from the supply and demand perspective, it is what we were exp

i am vonnie quinn. this is bloomberg. >> blackstone doubles down with a sweetened offer for crown resorts. we will discuss what that means for the casino operator with steve johnson. up next, we examine the prospects for a faster taper. jason schenker. this is bloomberg. ♪ >> let's take a look at the week ahead. tuesday, key u.s. and eurozone manufacturing data. grappling with rising costs because of supply chain constraints. the rbnz decision this week. and shoppers but where, black friday deals are expected to disappoint. americans should expect weaker seasonal discounts after thanksgiving day. what a shame. >> [laughter] we were looking forward to those discounts and we may not get them. i head of that, the president expected to announce his nominee for the next federal reserve chair. jerome powell remains the favorite though odds for brainerd who markets see as a more dovish option remain. and other vacancies also need to be filled. let's hear what some of our guests think will be the implications

i'm vonnie quinn. this is bloomberg. paul: thank you, let us look at what is going on at the international space agency -- i beg your pardon, the international space station. the hatch of the crew three dragon has opened, the crewmembers are making their way on board the international space station thomas carry on luggage. there is plenty of cargo to be unloaded. the nasa astronauts and the european space agency's astronaut, there are three others currently on board for the mission. we will keep an eye on that is the astronauts make their way on board. a successful docking. yvonne: exciting. we have breaking news with the republican challenger in new jersey's governor race. we were waiting for him to concede, it seems like we have confirmed that he has conceded in that race after more than a week since new jersey governor phil murphy won. still ahead, a rise in and quarter revenue on the year, and carry -- kerry mok joins us to discuss airfreight, passenger services and all things aviation logistics. a quieter affair tha

vonnie quinn is in new york with your first word news. vonnie: president xi jinping says china is open to discussing trade with the united states. he says china will take an open attitude to talks on issues such as the digital economy, trade, and the environment. he also mentioned policies aimed at boosting imports. a london court has allowed malaysia to continue its sovereign wealth fund. malaysia's government challenged the arbitration settlement between the two sides in the u.k. the london case is one of a series of legal and regulatory investigations around the world linked to 1mdb. the biden administration has mandated covid-19 vaccinations for all staff for companies with 100 or more employees. under the federal rule, workers must be fully vaccinated by january 4 or submit to weekly testing. employers that do not enforce the rule face fines. about 18% -- 80% of u.s. adult have received at least one shot. david: let's tell you what is coming up in the show. come on, guys. i did not put my lipstick on today, nor did i brush my teeth.

i am vonnie quinn. this is bloomberg. >> one u.s. assessment by the pentagon says china's nuclear arsenal is expanding more rapidly than believe. report comes after china conducted hypersonic missile tests, in addition to increased tension between beijing and washington over taiwan. let's bring in stephen engle out of hong kong. what do we learn from the report out of the pentagon? >> the annual report to congress is saying the capabilities, the nuclear capabilities are expanding faster than previously forecast by the pentagon. they are saying by 2030 that china should have at least for more than 1000 nuclear-capable warheads in their arsenal. in addition, the report cited three silo fields being constructed that are capable of containing hundreds of new icbms. china has accused the u.s. of overhyping the threat posed by the modernization and says there nuclear buildup is purely defensive in nature. still, america has been ramping up some rhetoric as well. we had the highest ranking uniformed military o

i am vonnie quinn. this is bloomberg. ivanka? yvonne: coming up, our exclusive interview with militias finance minister and how he plans to find the country's record budget. this is bloomberg. ♪ yvonne: checking the southeast asian markets right now. mind you, singapore and malaysia markets are closed for a holiday. jakarta is leading the charge, up 1% in indonesia. pretty flat when it comes to the p comp in melillo. overall a decent day on the backdrop of central banks looking a bit more dovish than expected when it comes to the fed, potentially when it comes to pushing against the pricing of these rate hikes. this is something else we are focusing on, this is the philippines, owned by one of the philippines richest men. they are talking about the debut yesterday, 50% higher. no coming back down. we are seeing massive swings. rishaad: talking about central banks, malaysia kept its interest rate policy on hold. binet inflation perhaps behind all that. these are record lows. what they are hoping is that it supports economic reco

let's get you to vonnie quinn. >> good morning. the chinese premier says his country's economy faces new downward pressures and -- taxes and fees. the state tb comments -- television comments, he said the economy needs adjustments. president biden says he will soon be announcing his pick for key fed positions. he told the conference in glasgow he is meeting with advisors to decide on the best choices. it remains unclear whether he is leaning toward reappointing jay powell or replacing him. the meta-platform says it will no longer use facial recognition over privacy concerns. it says it needs to weigh the benefits over worries about the technology. facebook has used facial recognition since 2010 to encourage users to tie family, friends, and content. ahead of soccer has been indicted. officials found a payment was made without a legal basis. both men have denied wrongdoing. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. shery:

i'm vonnie quinn. this is bloomberg. shery: why blackrock's woodland, says that rieslings can provide more in portfolios. -- for more resilience. this is bloomberg. ♪ pres. biden: this variant is a cause for concern, not a cause for panic. >> this variant has the ability to escape the protections of our vaccine. i think that that's something that we will know in a couple of weeks. >> fortunately for us, the pcr's that we mostly use would pick up this very unusual variant. pres. biden: my team is working with pfizer and modern and johnson & johnson to develop contingency plans for vaccines and boosters if needed. >> we have a high level of confidence we will have it ready within 100 days. but we can very high level of confidence that we can manufacture it by billions if needed. shery: let's discuss the broader market invocation spirit we are joined from singapore by the head of economics and strategy, vishnu varathan. always great having you with us. in the new york session we saw a commodity related -- gaining against

i'm vonnie quinn. this is bloomberg. yvonne: still ahead, india surprises the climate summit with a bold pledge to reach net zero emissions by 2070. we're going to discuss more with senior analysts. rishaad: david wang on what he is expecting from the chinese economy in 2022, and whether there's going to be more policy easing. this is bloomberg. ♪ berg. ♪ >> the need for aggressive easing, obviously if growth continues to slow, pboc will have to act. at the same time we should keep in mind that the fed is going to normalize monetary policy. that will narrow the room for pboc policy action. my expectation is monetary policy will remain flexible and actions will be more structural. yvonne: that was the peking university professor and former pboc advisor speaking to us on the sidelines of the credit suisse conference. as he mentioned, there is not a lot of runway now for the pboc to have any easing given the fact the global outlook you continue to seek global banks turning hawkish and you still have inflation concerns.

i am vonnie quinn. this is bloomberg. yvonne: we are live at the bloomberg new economy forum in singapore. haslinda: is with our next guest, focusing more on vietnam now. haslinda: vietnam, e.v., climate. our next guest is from vin group, whose automobile unit plans to start selling electric vehicles in the u.s. and canada and europe next year. let's bring in laity to tie -- laid the two -- let's bring in le thi thu thuy . so why do you think you can make it in the u.s., europe, and canada? >> we have been planning this for years, from the day when we decided to start an automotive company. we think we can make success in the u.s. because like everywhere else like vietnam, we focus on number one, having a good quality product. we have two models showing at the los angeles auto show, a midsize suv and a full-size suv of electric nichols. and at the ces, we will show more of our folio. we have good quality products topped off with a 10 year warranty. secondly, we price our photos competitively. haslinda: what is the price r

i'm vonnie quinn. this is bloomberg. juliette: coming up next on bloomberg markets: asia, we preview the india gdp data with goldman sachs. that's next. this is bloomberg. ♪ juliette: you are watching bloomberg markets: asia. india's gdp rose back to its pre-pandemic level in the july and september time, rebounding from the slump in the previous quarter, which was caused by a massive second wave of covid-19 infections. rishaad: acceleration next year of growth thanks to consumption coming back. goldman sachs seeing india economists. thank you for joining us. spending -- government spending on top of things with the expectation on a .3% growth in the third quarter. what's your view of this and if it's even sustainable. >> we are looking at a .3% growth in q3 of 2021. that is going to be primarily driven by consumption coming back to a trend. if you see horrible consumption, demand has been stronger. air passenger traffic is coming back closer to push pre-covert levels, so his control consumption. the way we track it is

i am vonnie quinn. this is bloomberg. haslinda:, up, this company discusses its strategy for assets as prime minister modi bets on a fifty-year rally in the nation's stocks. rishaad: and just ahead, evergrande is back in the spotlight over a missed coupon payment as the fed flags risks in china's property market. this is bloomberg. ♪ rg. ♪ haslinda: another day. another evergrande-related coupon deadline has passed without payment, leaving bondholders wondering whether the indented developer is heading for default. david: we have stephen engle with us, our chief north asia correspondent. he has been over this. it looks like a death by a thousand cuts, in slow motion. should people be worried now? stephen: about potential default? obviously, when you miss a coupon payment, you get a 30-day grace period. and they got that. this is a unit, scenery journey, of evergrande, that had two dollar bond coupons. that forwards to the first business day for him and, one day. he did not get it, according to a couple of bondholders

we have vonnie quinn in new york. vonnie: the kiwi fell after new zealand hiked its encz mark rates -- benchmark the rbn said -- the central bank's latest forecast show it expects to lift the cash trade to 2% by the end of 2022. that is one year sooner than projected. jp morgan's ceo says his bank is likely to outlast china's communist party. he made the comment during a panel in boston where he reiterated his commitment to china. he added jp morgan cannot enter and exit a country every time it has concerns about policy. the business community should have taken issues related to china more seriously a decade ago. >> the communist party celebrated its 100th the are, so has jp morgan. [laughter] vonnie: china has called -- curtis appearance earlier this month after alleging sexual assault caused international outcry. a spokesman told a news conference the case should not be politicized. peng seen in images over the weekend. el salvador's plans for a billion-dollar bitcoin bomb sends debt to an all-time low. closes the d

i'm vonnie quinn. this is bloomberg. yvonne: a lot of things to watch across markets today. my colleague david ingles is here to walk us through all of this. let's start with macau casinos. david: when you measure the move up from nevada, the latest was this note on credit suisse and then pointing to very very cheap valuations. they are upgrading price targets. you can see those on your screen. they're looking at favorable regulations for potential regulations, and suspected border reopening, all of these things when you have cheap valuations. as you can see, the market is doing that as we speak and as you mention, outperform on most, not all. yvonne: we had good news when it comes to chinese property developers as well. >> and what it might mean, and do we see that rolled out, just to emphasize local governments make up their own mind, but it is a major chinese city, and it is the first major one to actually come out with a series of very direct measures to support the market, if that is accelerating these applications for historic sales, credit when it comes to developers,

i am vonnie quinn, this is bloomberg. shery: starting with the rally in u.s. stocks, morgan stanley says the bullish trend can continue into thanksgiving at the end of the month, but not much longer. the bank notes the fundamental picture is worsening with the fed expected to start tapering and earnings growth slowing further. haidi: we are looking at junk bonds. pension and invents -- investment growth have been flat -- plowing to junk bonds. despite a decline, barclays notes the yield index has resumed to 4.23%. they also note that hedging costs remain reasonable throughout 2021. philip lowe faces major communications challenges today. he will scrap the bond yield target after the central bank allowed market selloff to continue without defending it. let's discuss with -- just by refraining from taking action at a point where the yield was at 1.8 times more than the rba target, it does that implicitly suggest they are comfortable? >> i am not sure they are comfortable but i think it suggests that the point where the yield curve target in april 2024 no longer

vonnie quinn has our first word headlines. vonnie: -- su: the ecb's vice president says inflation could slow next year but not as quickly as expected a few months ago. he tells bloomberg that easing price pressures would prove the current bout of inflation is transitory and reaffirm the views of central bankers. he also says that he doesn't expect the ecb to raise rates for at least a year. >> we will see what happens over the next months with the evolution of the economy and inflation. my personal view is that it's going to be quite unlikely to have a lift off of rates in 2022. su: to the european union which is reportedly postponing plans to upgrade trade ties with taiwan. brussels has been expected to announce a new framework to liaise with taipei on trade and economic issues. the south china morning post report those plans have been shelved or may be revisited at a later date. china's ambassador to the eu once the block against developing official relations with taiwan. beijing is further tightening virus restrictions even