This could be the most expensive meal in history. Hello from sydney, im paul allen, this is daybreak australia. We are one hour away from the open of asia. Good morning to you, its past 6 00 p. M. In new york 5 00 p. M p. M. In new york. Over the next hour, we look at how the asiapacific trading day is shaping up. We have to look back at what happened on friday, there was both hope and fear just in the ups and downs of the trading day. You can see how it close in the red, down two point. 201 . It was lower because of what happened with mike flynn, saying he would plead guilty to at least one count of felony about lying to fbi officials, then we did see those pair of losses. We got the good that the tax plan passed through the senate. We are going to be looking ahead to what happened in mondays trading. I want to show you whats happening in terms of the Corporate Tax plan. The highest tax companies. Is the highest tax rate. You can see the fall when we saw the flynn headlines across. Saw the pair of those losses. We are going to head to monday to see if there is more risk offset. Paul we are underway in asia to a degree. New zealand has been trading for an hour. Off by a few points, down by five points at the moment. The kiwi dollar might be weaker against the greenback. Futures in australia of by a 10th of 1 . While the aussie dollar is holding firm, . 76 u. S. We saw a big surge in oil prices. Iron ore traded. From delivery to tend our above 70 per pound. Maybe we will see it put wind under the materials sector today. Lets get the first news now. Mining sector veteran Simon Thompson has been named as the new german chairman. Replace. Will an earlier plan to install make davis was scrapped after top object hisre sent to record on acquisitions and deficit pay. Honda and ford disproved the rule that black friday and cyber monday dont drive traffic to brick and mortar outlets. They both reported sales ahead of expectations month as big discounts and cutrate financing lord drivers into the showroom. Total deliveries fell as gm and chrysler, but both said retail demand was strong. The Auto Industry is facing its first year of shrinking since the financial crisis. U. K. Promises theresa may its fighting fires at home i had of crucial brexit talks in brussels. Deadlineset out new for the meeting with the european commission. The governments own social advice, saying may has done nothing to improve peoples lives and the debt he is the deputy is facing calls to resign amid sexual misconduct. National creditors have agre ed new reforms must take place as it bells out to amend. The accord came after two sides reached Common Ground and energy. Public administration. The Financial System and social programs. A conclusion would not only release brush loads, but should also help athens regain the trust. Lawmakers face a deadline to declare possible dual citizenship after the weekend by election. The deputy promised the retired parliament. Helped theingly reason citizenship. Citizen mpr dual facing a by election in two weeks. Global news 24 hours a day powered by over 2700 journalists and analysts in over 120 countries. This is bloomberg. Back to our top story and the Top Democrats on the Senate Judiciary committee. Diane feinstein said the potential case of obstruction of justice is developing against President Trump after his former National Security adviser pleaded guilty to lying to the fbi. Sayingefended flynn, there was nothing to hide. With us is ross krasny in washington. Deeply . A go are there other dominoes is this a guilty plea . A lot of people think there are. We dont know for sure. More will be revealed over the next few days and weeks. s decision to plead guilty to a minor charge of lying to the fbi could suggest that he cut a deal with special Counsel Robert Mueller and he could make a trail closer to President Trumps inner circle. People have mentioned jared kushner, and wonder whether he in theg to be tied up Mueller Investigation before too long. Paul what about senator feinsteins suggestion about the obstruction of justice case. She sees one building. Is that something that is brewing . Senatorn only take feinstein at her word. She is the top democrat on the committee. She said she sees a buildup. Indictmentse four against the people who have been in his inner circle. That includes former campaign managers, as well as flynn and others. She also cited a pattern of trumps tweets. Leading back to when he dismissed fbi director james comey in may. The judiciaryhen committee would act and when, on what, and exactly what they would use to say obstruction of justice. She seems to say the dominoes are falling in that direction. Paul over the weekend, its interesting, donald trump made this comment after the Senate Passed its own version of the tax bill. He could talk about 22 for the Corporate Tax rate, really when both versions agreed to 20 . What do you say to this . Thats an interesting point. The president made the comment in an offhand way as he was boarding marine one yesterday. To some extent, President Trump likes to keep suspense around his actions. Wanted people he to keep tuning in to the house and senates talks on the tax bill. Really there hadnt been any talks about a 22 number recently, if at all. It suggests that possibly there could be some kind of negotiations that will pop up in the committee. Giving them a chance to upset a property tax rate with some other giveaways. I think we will just have to wait and see. Ramy always waiting in seeing. You talked about the teasing ahead, we have to wait until his next comments. Ross presley for us from washington, d. C. The fed may be on course for a december rate hike. Backed by signs of strengthened u. S. Economy. Those bond bulls are roaring back as Michael Flynns guilty plea sent them back to the safety of government debt. Kathleen hays is here. Risk off as we can see is returning, and bonds are up. It really hit like a kind of bricks. That werestocks looking at the isn manufacturing numbers, waiting on the latest of the tax plan. Then the headline hit the tape. A wild week indeed as events in washington, the development of the tax bill and more. The bond yield low at the beginning of the week, 2. 34 . As word spread that this is going to work and they will probably get the tax cuts 2. 43d, the selloff of over percent. This is where the headline hit on friday, december 1, that Michael Flynn was pleading guilty. You see the drop down to about 2. 31 , it is still rate trading around 2. 36 . That shows you how dramatic it was. Lets talk about the manufacturing numbers. Heres something feeling a big rally. You saw bonds were selling off a bit more. Heres one of the reasons why. Survey,manufacturing purchasing managers survey. The number went from a little line,tter, the blue 58. 2 . It did improve. Well above 58, thats the point. We had this big jump in new orders. Looks like manufacturing has shrugged off the hurricane fred jim bullard, the flattening yield curve is a red flag for the fed. He says if it continues to keep hiking rates, that will flatten even more. Over at j. P. Morgan asset management, they are saying if the tax plan goes through, we could see four rate hikes. Theres a lot of things that hit bonds bear sleep. Michael flynn on friday, we will see. Ramy thank you very much on what to expect. More on the developments in washington next. We will be talking tax with jerod siebert, managing director of the Washington Research group. Paul later, First Contact between the u. S. And u. K. On a potential postbrexit trade deal. We hear from ambassador Woody Johnson later. This is bloomberg. Paul im paul allen in sydney. Ramy i am remy in new york, you are watching daybreak australia. It has been a weekend of fiery developments in washington. Rum Michael Flynns guilty plea to the Senate Passing its version of the gop tax plan. To help sift through this is cal in washington, managing director at research group. Jerod sieber, Kathleen Hays with us in new york. Thank you for joining us jerod. Looking at the tax plan, your initial reaction is partyline vote at the 149, 1. 5 trillion added to the deficit. I think what you are seeing is a lyrical fear at work. Republicans are eyeing the fact that democrats might actually win in alabama, which is almost unheard of. They are looking at polling numbers across the country. They are just afraid. They believe they need to do a tax bill. Measures that normally could never unite the fiscal conservatives with the tax suddenly all of those differences have disappeared and they are plowing forward with a bill. They are not worried about the details. Even if you dont get into the minute details, just the general from of this tax form of this tax plan has people you bewont be popular at all. Chris rent ski here in new york says the economy doesnt need it. Second of all, its not going to increase wages of workers. Corporations are going to buy back stock. It will fund the federal government, hard washing support for state and local government, Tax Collections in the future will be less. It willthat can only mean one t, mandatory entitlement spending of the federal government will have to be last. I have been seeing this commentary. Is that valid, or people not understanding the magic of the tax cuts . Thats absolutely valid. It doesnt mean they shouldnt try to do something. If you are a republican, there are few legislative options available through the end of the year. You have a white house that is one giant distraction after another. A political process in the house, where there are a number of divisions. The only thing they really have in reach is this tax bill. Our view is this bill will keep getting simpler. Reform,rted out as tax changing the code, trying to make the economy more productive, favorite Domestic Production. Now its spending 1. 5 trillion to cut taxes and use the deficit to pay for it. Thes there any way that stock market optimism lets assume its going through, the optimism in stocks has been buy them now, because there will be a huge rally. Maybe this could be why they buy back share prices instead of implant equipment for example. Will it be justified . You are going to take certain in thees that tax rate low 30s and high 20s, and reduce it to 20 . That will be a benefit. Banks have among the highest effective tax rates. If you take their rate from around 30 and bring it down to 20 , thats good for those companies. Point, i a great thought the most telling point about this bill came when gary cohn asked the roomful of executives whether any of them planned to hire more people because of the tax cut. Nobody raised their hand. Bill, problem with this what these companies are incentivized to do is put that capital to the best use possible. In a lot of cases, that means buying your stock if you believe it is undervalued. Paul you mentioned this tax bill is getting simpler, but is it really . Pages, democrats want to go to swamp onetoone saying theres handwritten provisions being written as it goes. If you look at the last time the tax court code was rewritten, that took months. This was done in 11 days. Was it both rushed and complex . What we mean by simplification is the original idea for tax reform was we were going to have this border adjustment tax. The whole idea was to try to favor Domestic Production and shift the tax code around in that manner. On the individual side, everybody was going to file their taxes on a postcard. Concept that was the of reform. What they are doing instead is bringing down rates. Yes there are a lot of provisions in there. In effect, its a cut in the corporate rate, and a reduction in individual rates, a doubling of the standard deduction. They are trying to find offsets because that costs more than 1. 5 trillion. Ramy paul mentioned the speed of this happening. What struck me as eyepopping was there were these handwritten notes done in the last few hours. How are we supposed to have confidence or trust that that has been well formulated . Should we even have that . Notes. Ve the handwritten senator john custer did a great video with a handwritten note. Unusual thats not that for big pieces of legislation as they are moving forward. Amendments get written in hand, then it gets distributed. I go back on this to the early 90s, late 80s. We have seen that on other bills. I dont want to get too caught up in the fact that it was handwritten, but it tells us the idea that the house is going to take this bill and approve it, and it will suddenly become law, that is very low probability. We will get a conferencing, in that conference they are going to have to fix the mistakes that have been made. Paul you have been seeing the handwritten notes, i will take your reports that that is something we can go on. You lead me to my next question about reconciliation. Moving ahead, what is the top Sticking Point for you out there that you think will be the biggest hurdle . I think they are going to raise the corporate rate in order to drop more controversial provisions out of this bill. You have a lot of Interest Groups that are making the argument that this was unfairly targeting them. A lot of complaints today about the research and Development Tax credit that will lose its value with the reintroduction of the corporate amt. You are going to have to find a way to offset keeping that allies. The Real Estate Industry alive. The Real Estate Industry wants to get rid of provisions that will make a punitive if you buy a house and your job moves to somewhere else. You have to move, you could get hit by a new tax. Theres a lot of stuff like that that they want to pay for. The easiest way is to raise the corporate rate. Deficit is the percentage of gdp. You will see it came down a lot now, it is at a point where it doesnt look too bad. It could be getting worse again. My question is will donald trump be able to sidestep the fact that he is a republican president when the Republican House and senate push through a bill that may increase a budget deficit if it doesnt boost the economy and grow the way something it will . Do you think it will hurt him . Firstly, will he even run in 2020 . I understand he keeps saying he will, i dont think we will know the answer until 2020. Many republican president s that have left the deficit or the debt much higher. Reagan certainly did, bush with Medicare Part b. He joins a fine list of his joined deficit spending. Paul thank you for joining us, jerod siebert. Whats going on with all the tax of aces in the u. S. Dont forget to check out the interactive tv function. You can find it at tv. You will be able to see previous interviews and dive into any of the securities or bloomberg functions that we talk about. You can become part of the conversation by sending us instant messages during our shows. This is for bloomberg subscribers only. Check it out at tv. A quick check of the latest business flash headlines. Chrysler is in talks with hyundai about developing hydrogen engines. The news comes as electric cars established themselves as the post also feel fossil till technology. They have fallen behind toyota in terms of sales. Toyota backed away from hydrogen but says there is potential for the technology. Ae is buying at the tna. Are told cbs will pay a share. Ut 207 per that is an increase from the share price before negotiations. And negotiations are being electricity dey france. An announcement is expected by the end of the year by jera. Last year, it bought a cold trading coal trading business. Names a newio cento chairman. Why he has earned the job. That is next. This is bloomberg. Is this a phone . Or a little internet machine . [ phone rings ] it makes you wonder. Shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. Choose by the gig or unlimited. And ask how to get a 200 prepaid card when you buy any new samsung device with Xfinity Mobile. A new kind of network designed to save you money. Click, call or visit today. It is 9 30 a. M. In sydney, the markets are opening in about 30 minutes, futures looking weaker, off 1 10 of 1 as we get underway with a damp start. In new york, it is just past 5 30 p. M. On sunday. You are watching daybreak australia. Lets get the first word news. Haslinda the top democrat on the Senate JudiciaryCommittee Says the investigation into the alleged links between the Trump Campaign in russia suggests a potential case of obstructing justice is developing against the president. Senator Dianne Feinstein told talking about the indictments involving former company aims including National Security adviser Michael Flynn. President trump has celebrated the tax vote in the senate i saying it makes him unbeatable for reelection in 2020. He also says the Corporate Tax rate could be 22 in the end, having previously said 20 was the level he would support the proposal. Percentage point change in the corporate rate equals about 100 billion in revenue over 10 years. A first visit to the internet conference in china, fused with privacy, security and humanity. Tim cook spoke there. Apple has been criticized for their act in china. A group is fundraising in the local bond market and stoking concern about the debt burden. Sold a 270 day you want bond to an 8. 2 loss last week. Month, another Airline Subsidiary issued similar maturity notes at the highest rates in five years. North korea says mondays aerial drills by u. S. And Southern Forces are a grave provocation that pushes the peninsula even closer to nuclear war. State news says the north would seriously consider countermeasures in response to the exercises and said washington would have to accept responsibility for any outbreak of violence. Last month, they said the u. S. Wants an excuse for war. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im haslinda amin. This is bloomberg. Paul time for a look at the week ahead on wall street. We start with the markets dropping on friday due in part to what happened with flynn, saying he was going to talk with donald trump. We have the flynn drama, will he be diverging more to the authorities, i perhaps things President Trump might not want die. To be harmful to the presidency . There is concern about the tax deal, and a possible government shutdown. ,e also have the auto data which was very strong. Lets get into that. It did not really move the market as perhaps it might have. We saw ford come out as the leader, really shining as automakers crank up spending and inventory. Numbers were up for half of the top six. Honda and forward reporting the biggest sales gains, that had a lot to do with the rebates. Somewhat less than the trend in october and september. That has to do with those sales, we saw a big from hurricane demand. Suv sales surged by about 57 . Explore deliveries dont by about jumped by about 50 . Quickly, the way the market closed on friday. A slight optimism we have on auto sales did not impact the close. This week, what moves the needle, will it be washington or the internals of the market . Ramy looking ahead to monday, it looks like it could be another merger monday. Just hitting the bloomberg na. Minal, cbs and aet su it looks like they will agree, a monster deal. Two stocks those likely move, not major moves on sunday, but they have been telegraphed. The biggestm one of will form one of the , and thatains broadcomotlight on and other companies. There is debate over the mexican wall funding, its part of the issue, theres also fridays jobs data, it is expected to be robust. Options are being used to position for more gains. The s p is heading for its longest streak since 2007. Crankinglish bets are up and indicate a lot of the smart money, as we say, believes there is more to come. We have seen the oil price strengthening a little, as well, and the u. S. Hedge funds boosting the bullish bets. What is ahead . Pretty much say it was not unexpected that opec would come through with the deal, the question is, u. S. Investors tend to say, will they it here and carry through . Thisye bye is the name of chart. Look at this big spike here, a lot of having to do with the opec output, we have more nonoutput members coming in. If you listen to the global head of Commodities Research at citi come he says a lot of factors are at play. The prices being set by a bunch of things, a market in the u. S. Has a much bigger role right now than before. Goes now, the price and i know it is an old adage, the more there will be oil in the market. Su lets look at your today. We closed above in regular trading on friday. It has been a strong climate since the end of the phone the end of the summer. Paul thank you for that. We have breaking news out of rio , optimistic about china, but sees a slowdown over the next six months. Theyre also saying is expected to be less than 4. 5 billion in 2017, offering 5. 5 billion capex in 2018. As i mentioned, they are optimistic about china, as well. Rio tinto also this morning, Mining Sector veteran assignment constant Simon Thompson is his new chair. Here is david stringer and melbourne. Tell us more about Simon Thompson, will will he bring to the job . Is 58 Simon Thompson years old, a veteran with a career with plc and other Mining Companies. Rothchild, has a lot of substantial board experience with the mining chairman of, group among others. He has a lot of credentials and experience, but maybe crucially, and here is where the differences with nick davis, you mentioned investors have rejected to appoint davis. He was seen as a dealmaker, someone who could look to the inquisitive in the market. What we have heard from thompson is capital does a flip will continue to be a priority under his leadership. That is probably the signal the market wants. Investors are wary of what we saw earlier in the past decade, Mining Companies spending big and making big mistakes. I think he will be well received. Davis wasy for rio, cut down by the shareholder revolt. Do you think thompson is more of a consensus candidate . The conversations i have had this morning indicate there is this more conservative candidate will be more warmly received, particularly as hes also had messages saying things like capital discipline and value over volume strategy are things he looked to prioritize. Less likely to face opposition. He has been on the board since 2014, so he is familiar with the company and investors. If there is opposition, as you say, rio are meeting in sydney with investors today, they will certainly have instant feedback on the announcement. Ramy when he takes the reins, what is the biggest challenge he faces as chairman . What does he need to do first . David there are some key areas. One, really cut through regulatory and issues that are ongoing. Rio in the last couple of months, the u. S. Authorities have filed fraud charges against rio and former executives, that relates to a cold deal in mozambique. An issue withe is the project in guinea. China, and what weve heard in the headlines, rio previously have been very confident on the outlook for china both of the into this year and into 2018. Now they are saying, possibly, less optimistic in the latest in the next six months. That will be a key thing for him to wrestle with, shall optimistic can rio be, to what extent can they in can they employ new projects, given that there is potentially slower demand . Ramy looking at the anr function, 18 buys, for cells. Your today, up about 4 . Year to date, up about 4 . Coming up, a busy weekend for Central Banks in asia. We take a look at the challenges for all of those policymakers, next. This is bloomberg. Ramy welcome back, i am remy innocence you in new york. Paul im paul allen in sydney. Youre watching daybreak australia. Adam haigh is here. Eating a money manager the index and taking advantage of fear about china. Tell us more. Your, we heard a lot of what is going on in china in terms of the Economic Growth profile, and a lot of the bears are being fleshed out as the economic numbers and generally the trend and profile of chinas economy has been expectations, if we compare to the start of the year and what we have been expecting. These folks have been wanting to take advantage of the fact that they think people are unfairly rising risk into the chinese economy and equities. That it is unfair. They have been buying up a lot of underpriced stocks may see over there, have a look at this chart, 6071. There should we help performance in their fund, they are up 66 , and over five years they are gain per year. They are seeing the chinese economy is in good stead and continue to see value inequities trade. Its interesting to hear the rio comments this morning, although they are optimistic on china in the long run, they see caution in the next six months or so. Athink thats largely function of expectations of being beaten, and people piling that back. You get into the first half of next year, will be interesting to see how it plays out. The rba decision on tuesday. Things have been moving in the past fuming past few weeks. Think itthe market will stand of the cash target of 1. 5 moving had ahead . We have to start off with thing that australia is very much in a standout plays in the developed world at the moment, were obviously we are well into the hiking cycle in the u. S. , and indeed in canada as well. Mark carney making moves at the boe. Australia is holding rates at 1. 5 . They didnt do as much unprecedented Monetary Policy stimulus as some of the other major development, but at the moment, they are wanting to hold rates low for longer, and indeed investors have brought back their expectations for a rate hike and it is looking like it will be the final quarter of 2018 at the earliest before we. Et a hike from the rba if we have a look at this chart, we are heading basically for 13 straight meetings on hold, assuming we get another hold tomorrow when the rba comes out with a decision. That shows we very rarely had pronounceds of long, rates. It shows a conundrum for the rba. The aussie dollar has come back a little bit of late, and that may help things somewhat, that they are still not happy with the way things are going into the wind Housing Market continues to unfold, they need to keep rates at these very low levels keep the economy ticking over. We are not expecting a huge amount of extra detail in the statement tomorrow, but largely the focus will be around the Housing Market, ongoing developments there, and of course how the economy is responding to the tail end of the mining boom. Ramy good stuff. I like the title, record period of doing nothing. It looks like it will be going on until the Fourth Quarter of next year. Global markets editor, adam haigh. A big week ahead not only for the Central Banks in australia and india, with the debate concerning on whether the r. B. I. Will cut its rate. Kathleen hays is back. A big day is dawning for brexit, day and bigley appeared to top it off, governor kuroda speaks later today. Kathleen he will be a big week for so many things, from the tokyo, london, brussels, where you want to go. There is a lot going on. Lets start with just quickly, i want to touch on something, governor kuroda is speaking at an International Financial form hours from now in tokyo, along with the head of the bank of france. The thing bond traders are waiting on, just a few weeks ago he mentioned something about a reversal rate. In other words, it has to do with, people have said that keeping the euro at zero on the 10, it hurts banks, it could disrupt the market. People are wondering if he will elaborate on that, maybe if there is more leeway for the boj to let the yield rice. Thats what we are waiting for from governor kuroda. Rba is not expected to move the rate, inflation is a little below target, there are a lot of makes things in the wind. But the bank of india, this is interesting. Our Bloomberg Economics team is saying no, they will not hold of key rates or lean toward a rate hike, that is the consensus. There saying there could be a cut. Lets take a look quickly at a chart, 3816. You will understand quickly why the consensus is looking for at least a hold, not a cut. Had a five how gdp quarter slowdown, demonetization in there, the new goods and services tax. Second quarter, gdp came in stronger than people were looking for, 6. 3 . The r. B. I. Team says as long as inflation is low and below target, ultimately r. B. I. Will move that in that direction. At the least, we will be looking for language of them that suggest that if they dont cut now, that our team has a correct and they will move down to that cut very soon. Paul brexit is another big story this week. Aere is a monday deadline for detailed proposal. Where we kidding there . It is a fluid situation over the past couple of days, we knew the theresa may this, monday, to have, she is supposed to an irish border plan worked out, they dont have to have a hard border. The irish, some of them were trying to support theresa may and getting a brexit deal. They do not want a hard border. That may iss telling to reach a deal on i was border, the size of the brexit bill, how much this u. K. Have to pay the eu to exit, people are talking about 50 billion euros or 60 billion. That is going on. Meanwhile, there are political fires it home, conservatives saying they are pushing, giving the eu and ultimatum, we have to have something in place by december 14, but she is not made too much progress. The Irish Foreign minister is also saying he is hoping for a exit breakthrough, but they have not gotten it. Perhapsthis lunch will be a disappointment for theresa may at this point, but she will maybe have to propose that are or something on wednesday, because these are very big issues hard to sort out, she is doing her best, but maybe doesnt feel fully supported by the people in the u. K. Behind her. It looks like the eu wants to do it, to0. Too we will be watching that. It is a big day for her. Paul i think it was a former British Foreign minister that that if youre not eating well doing business in europe, you are not doing business. Thank you, Kathleen Hays. You can always find indepth analysis and the days newsmakers on bloomberg radio. Stay tuned for daybreak asia. You can download the radio app or visit our website. This is bloomberg. Im paul allen in cindy in sydney. Ramy and i am Ramy Inocencio in new york. Weekend withe Barnaby Joyce winning a special election after having been forced to step down from parliament some weeks ago, but Malcolm Turnbull faces a biggest test, there could be a much closer election. All of this as turnbull faces his own calls to quit. Its bring in our sydney euro chief. Bureau chief. When one headache stocks, it looks like another one or two are starting. What is the sentiment now . Say, at the weekend, it was a rare reprieve or the Prime Minister, Barnaby Joyce comfortably won his seat. So comfortably he declared victory with only about 30 of the vote counted. As you say, the Government Faces a much tighter by election on the summer 16th, when another government lawmaker must recontest his seat and the contest is likely to be much closer. Paul that would make kim jongun west, 64 , very impressive. Nextll be tighter in the election and the could be more to come. Ed it will be much tighter. They are predicting much closer rates in the sydney suburb of longford. We are expecting potentially more to come, as you say. Just a backtrack slightly, about the citizenship crisis, weve had nine lawmakers in australia caught up. They have run afoul of section 44 of the constitution, which states you cannot be a citizen of another country and sit in parliament. We have had nine lawmakers fall afoul of that. Largely because they have not been on top of their paperwork, or did not big enough into family trees. Has given upister in both houses until tomorrow to provide the paperwork and show they have done Due Diligence on their heritage. If we get more being fleshed out through that process, we can and another clutch of mps senators report to the high court and more by elections, as the prime maker Prime Minister loses some lawmakers, it could make the government even more tenuous. Ramy we have breaking news right now. Looking at what has been ,appening with cbs, cvs confirming the deal to buy aetna for 207 per share. They are just up by 6. 5 . The Additional Details on this willat aenta holders receive 145 per share in cash theyrest will be have confirmed they are buying a 207 per share. Paul that is almost at four daybreak australia, trading is getting what getting underway on the asx in just a moment. Daybreak asia is next. This is bloomberg. Kong, we0 a. M. In hong are live from bloombergs asian headquarters. Buckham to daybreak asia welcome to daybreak asia. Democrats say an instruction case is building against President Trump. The president was celebrating the republican textbook, saying the passage makes him unbeatable in 2020. And from bloombergs global headquarters, i am Ramy Inocencio in new york, just past 6 00 on a sunday evening. Honda and forward led u. S. And ford led u. S. Auto sales last month. And justin trudeau