Feeding Market Information to a swarm of japanese traders. Can you get more exuberance into this market . This fomo trade when it comes to equities in the u. S. And global, 24 billion flowing global sixth largest for inflows. ,hen it comes to u. S. Stocks 11 higher than its 200 day moving average, the whitest cap since 2013 idest gap since 2013. We do have a Public Holiday when it comes to u. S. Stocks on monday, so a wellearned rest when it comes to some of these u. S. Stocks and the recent rally we have seen. We have some breaking news when it comes to xiaomi. Considering chinese banks when it comes to their ipo, but sent to have chosen Goldman Sachs and deutsche bank, as well as Credit Suisse and Morgan Stanley, so more color on that story. Fromhotly anticipated ipo xiaomi, once a top contender when it comes to the smartphone space, a real disruptor for that space. 30 minutes away from the open. Singapore, taiwan, and malaysia coming online. Sophie taking a look at market action. Broadly speaking, asian equity markets are tracking gains in the United States, which saw u. S. Equities rise to fresh records, helped by the optimism around this Economic Growth story. In tokyo, bank and tech stocks giving the biggest boost, and softbank jumping after considering listing a mobile unit. Other shares are extending fridays gains. Waiting on ,re will postsday tmc results. Climbingnese dollar with other regional currencies, gaining. 2 against the dollar, which is extending losses after capping a fifth week of declines, so the dollar index languishing. The Malaysian Ringgit rising for a fourth day, trading at a july 2016 high. Jim rogers chiming in with saying Political Uncertainty clouds the Malaysian Ringgit outlook. The korean won and the yen gaining traction. Taking a look at the yen moves on this chart. The trend for the dollaryen is pointing lower. It should breach the november , then it could test the 110 handle. Bulls honing in on governor kuroda does language tweet, leaving out words powerful and aggressive, but the euro could also be propping up the yen. The korean won testing to 1060 handle, seen as intervention point for korean authorities. The korean won has rogan through has rogan through the averages and now a hot has broken through the averages and now at a high. 2. 1 inrices fell december. Taking a look at cryptocurrency stocks in korea as the government updates its position. Bill will be decided after a full discussion. The korean government is supportive of investment in blockchain. Some stocks have stakes in cryptocurrencies in seoul, korea. Some relief this morning on the back of that. Haidi interesting. We will continue to monitor that story. Thank you for that. Lets get you the first word news. The iranian tanker that burned for a week after a collision off shanghai has exploded and sunk. It went down the sunday afternoon leaving a 10 square kilometer oil spill. All 32 crew members are presumed dead. It collided with the carrier on january 6 and was carrying almost one Million Barrels of condensate. Republicans are holding out hope on young immigrants despite President Trump declaring a bipartisan agreement probably dead. That heightens the risk of a Government Shutdown by the end of the week, prospects of a deal were damaged by the president s disparaging comments about african nations and haiti. The pounds a rally may come. Nder pressure this week sterling jumped to a high friday after spanish and dutch finance ministers agreed to push for a deal to keep the u. K. As close to the eu as possible but germany made pour cold water on the idea. We are still going full steam ahead on our plans. This will look after the market, from the eu euros ofbillion yea business for us. We are going. Full steam ahead. Hashe philippine president rejected calls from allies to expand his sixyear term and cancel elections next year, while supporting moves to shift to a federal system of governance. He told the website he wants a federal government with the Leadership Structure similar to frances Leadership Structure. He also said he does not want to stay in power beyond global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. 2022. Beyond the 2022. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Beyond 2022. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Thanks. Chinas credit growth grew faster showing the attempt to cut risk is starting to bite, demand for exports has soften the impact. Tom mackenzie joins us from beijing for more. It seems policymakers have managed to time this nicely. It is a window of opportunity for china. Inna has played a big role stimulating the economy with its own domestic stimulus and now with this external demand picture being supportive, particularly for chinese exports , it has given them a comfort blanket when it comes to pursuing this derisking. In terms of credit flows, it did slow significantly, particularly the m2 money supply, where we saw eight point 2 growth versus the forecast of 9. 2 , the slowest on record, so it points to potential risks as they pursue this derisking campaign. Those export numbers picking up 10. 9 in december and over all the trade picture between the u. S. And china looking strong come up the chinese perspective at least. Come increasing 13 . If this external environment remains supportive, you would see more rollout of these regulations we have seen from policy makers here because it will give them that added confidence. Looking towards the end of this week, thursday, fourthquarter gdp number. The forecast 6. 7 from 6. 8 in the third quarter. Overall, the world bank and imf seeing six point 8 growth in total for 2017. We did have the premier saying it could hit as much as 6. 9 . That is the gdp number expected in the Fourth Quarter. Going forward, economists expect 6. 5 . It is that external demand for chinese exports plus the Deleveraging Campaign, how much those to support each other and how much of a balance there is to support that. The derisking continues. We are hearing from chinas thanking regulators saying it is ramping up oversight. Do we have any details as to what this looks like . Came out over the weekend, the China BankingRegulatory Commission saying they would ramp up oversight of the sector. The regulators here have all been under the gun to shopper and up their game. To sharpen up their game. They said they will focus on unhealthy Corporate Governance, shadow banking, and in the credit david numbers friday we sought shadow banking pickup. Regulators say they will pay closer attention to that. Also property loans. This is something we are expecting the property sector to slow down according to economists we have been speaking to as regulators say they will be focused on violations around lending in the property sector and will him up the punishments as well for any people or anyone lending and bar ring who violate some of those rules, also saying they want the banks to ensure there is a greater focus on funding for the real economy, and this is what the focus is for regulators coming weeding out the darker areas to ensure credit continues to go to the real economy. Haidi thank you so much for that. A little despite from those from those respite numbers. In theup, and ipo may be cards for softbanks mobile unit. We will look at how much that could raise. Outlookon bonds, the from bank of america next. This is bloomberg. Haidi lets get you a check of the business flash headlines. Xiaomi has selected Morgan Stanley and Goldman Sachs for its planned additional public offering, which could target as much as 100 billion. A 45i raised money at billion dollars by ua shannon in 2014 and is still considering chinese underwriters and has yet to decide on the timing and location of the sale. Vale to pay 1 billion for its 50 stake in a joint venture in brazil. Thevaluation includes provision that bhp would continue to assume its share of remaining fire abilities remaining share of liabilities. Hedge funds are secondguessing optimism on copper. Money managers have cut their that growing demand may be overwhelmed by new supply. Lastr prices jumped 30 year as the Global Economy improved. Plenty to talk about when it comes to fx. The yen strengthening against the dollar has we heard from the boj governor. It was a focus on what he didnt say, leaving out words like aggressive and powerful, essentially wondering if he is still about whatever it takes. Our next guest joins us now. Lets talk about the dollar side of the story. I want to throw out this quick chart, the bloomberg dollar index, which fell for a fifth week of last week, almost 1 lower friday. It is the longest losing streak for the dollar in a year, but that happened on friday despite retail sales and other data better than expectations, so what is driving this overwhelmingly negative sentiment when it comes to the u. S. Dollar . Right. Are quite it seems and feels like a oneway street. Those cpi numbers only stalled the decline. They did not reverse that heavy selling decline we saw. It last week was policy normalization, the focus on the boj and ecb, where we saw forwards curve, the repricing of european expectations of rate hikes, more aligned to our own view, but we think the deposit rate will be hike in the second and Fourth Quarter, and that provided a lift to the euro, while the yen has been a critical levels with the focus on normalization. We are on the dollar bullish side. Of cant get too far ahead yourself when looking at normalization for japan and europe, and we would be cautious about chasing this one way trend. Upside in theore dollar despite what looks like one way traffic on the dollar. Haidi lets talk about the yen. We are getting lines that the boj buying today came in and is expected. We saw dollaryen falling to the lowest in september on almost what governor kuroda did not say , the lack of saying powerful or aggressive easing. Is this scene in line with the camp that sees stealth tapering in the jgb market as well . I think to some degree. What we would be looking for are the wage numbers from the spring Wage Negotiations to see how that side of the equation is going. Failed twice in terms of normalizing and getting out of its qe programs, and they need to feel fairly confident about sustained inflation, and the only way to get that is to get positive feed through loop with higher wages, demand picking up, and inflation beings to pain. Until that time inflation being sustained. This that time, there is constructive ambiguity, trying to move the markets in directions they want without being explicit and without upsetting the expectations for inflation. The most powerful tool policymakers have is for guidance. Explicit about ford guidance, it does turn expectations. Thats why they will have to be very cautious about turning the corner and normalization. Haidi one of the biggest moves we saw going back to this dollars story, some movements and the yen, some strength in sterling and euro. On that last point, this chart, at the highest level against the greenback since 2014. This is on expectations the economy is going well and the come al pare back buying pullback and rein in stimulus later this year. Do you think it is a oneway bet for the euro . Or is there some concern with the periphery . The ecb tends to be better at trying to find tune its policy communicate communicate relative to the boj. It will be interesting to see if he tries to dial back anything in terms of policy expectations or the way he talks about euro dollar, because the ecb is focused on those levels and trade weighted terms. If it runs ahead of itself and tries to take the frost off the market, that is important. They have change the tone and talking about overall policy stance, but it is a complicated dance when it comes to ecb Monetary Policy in terms of sequencing it, turning the tap off in terms of net purchases of securities, then they want to guide in terms of trying to guide higher in terms of the rate expectations, so we are still early on in that game and they will watch the currency because they dont want to kill in terms of the inflation story or the inflation pick up with appreciation of the currency dampening down in terms of import Price Inflation and feeding back into lower inflation expectations. Week we started off last all terribly concerned about this their market. We heard from bill gross. Abouted the week talking one guest talking about it like a teddy bear market. Is it a bear market . Is it going to be a choppy ride am a but mild one . I would say it is a bear market to the extent the shoe that has not dropped is to some degree the term premia on 10 year yield. It is still around 50, 40 basis points, which is out of place for the market, particularly when we look at the fiscal issuance this year and the amount of supply coming onto the treasury market. That will push up the inflationary premia. Inflationen expectations turn higher, and yet the term premia, the compensation for taking risk, is still negative, and that has to turn positive and at a kicker in terms of the bear market for bonds. Haidi always a pleasure. Plenty more to calm. To come. This is bloomberg. Lets get you caught up with the business flash headlines. Whenwill double spending it comes to electrified vehicles , shelling out 11 billion by 2022. The executive chairman means the company is all in when it comes to dvds evs. The carmaker is shifting production of an electric suv from michigan to mexico, and ford says it does not support major changes to nafta. To do something that drastic is not something we support. Nafta could be modernized. We could get currency certainly in nafta, but nafta has served this industry well. Indonesia centralbank tanking a firm stand against cryptocurrency as it urges all parties from refraining from selling, buying, or trading. The bank of the niche it said they are risky and inherently speculative. They said the potential for terrorism and Money Laundering could affect instability and harm the public. Has accused alibaba of selling fakes online in a sign of increasing trade tensions. The u. S. Trade representatives included alibaba in its list of notorious markets, but alibaba says it is not an accurate representation of the companys efforts and called the u. S. Position on, biased, and politicized. Fiat chrysler ceo said the company can double profit in five years by exploiting the potential of the jeep brand. He said cheap good groep 20 of the global suv market, equivalent to 5 million deliveries per year, and says tax cuts could further boost profit by 1 billion a year. We are counting down to the open of markets in china and hong kong. We are just minutes away, the hang seng up. 9 when it comes to the premarket session,. 8 for hang seng futures there. The china open is up next. This is bloomberg. Haidi it is 9 29 a. M. In hong kong. Shanghai and hong kong markets with the feeling of positivity, picking up from u. S. Stocks. We had u. S. Consumer and retail sales and data beating expectations. Of course that yen trading strongly, dollaryen the lowest since september as we had what governor kuroda did not say in his speech today, the elimination of the words powerful and aggressive when it comes to that journey to 2 inflation. China fourthquarter and fullyear gdp thursday. There are expectations we may get a beat when it comes to headline chinese growth. Lets get it over to sophie. Sophie a mixed picture. Chinese large cap gains. We could be looking at a 12 a of gains. In hong kong, the hang seng at a record high, rallying for a 15th straight day. 8 . Gaining ground we did see the pboc set the yuan fixing the strongest level since may 2015. Taking a closer look at what is moving the dial in hong kong, sands china gaining 4. 5 after sands, supporting the sectors up turn this year. Thestocks, see note on upward momentum, 3 . Energy leading laggards down over 1 this morning. Some stocks have halted trading in hong kong. Chief among them is an aluminum player seeking 800 million in a top off placement. Include viva china. China resources rising for a fourth straight day. Surging in its hong kong trading debut. One laggard falling after a top off placement selling shares at a 6. 8 discount to the last close. , i. T. Stocksnghai falling 1 , but Consumer Staples and financials higher in shanghai. Chinese banking stocks are getting another vote of confidence, this time from Credit Suisse, which sees double digit Earnings Growth this year unless regulations tighten significantly. Tankingave chinas watchdog rampup supervision on Corporate Governance, shadow banking, and policy violations. That is not getting in the way of trader so far today. For that. Nk you lets get you first word news. The fcc said a wise emergency authorities lack safeguards to prevent a false alert that told residents a Ballistic Missile attack was imminent. The fcc said an investigation is underway. Hawaiians were sent into a panic for the false alarm, blamed on an employee pushing the wrong button. I love they took responsibility. They took total responsibility, but we will get involved, their attitude, what they want to do is terrific. They took responsibility. They made a mistake. Saudi arabia Sovereign Wealth Fund is considering borrowing from banks for the first time. Have held talks with local and International Banks to raise about 5 billion this year. Former u. S. Army Intelligence AnalystChelsea Manning is running for the u. S. Senate for the state of maryland. The campaign relea