Sep currently up 0. 4 percent, on the back of protests over the weekend. Rishaad 44 minutes to go before we get trading underway in india. Nifty futures coming under pressure, down by 0. 4 . Looking at the crude oil picture, they are sustaining some of the gains we have had. A 10 rise in the last five trading days. It could be on, the march to the 100 level according to some. And a look at what is going on with the yuan, at 6. 76. We see the fiveyear loan prime rate holding study from the previous month. Holding steady from the previous month. Lets have a look at what is going on with the first word news. Lets join karina mitchell. Karina a very good morning to you. New japanese Prime Minister has held his first call as leader with president trump, with the para bowing to strengthen ties. They also agreed to incorporate on a vaccine. He may meet the u. S. Secretary of state soon. Others. Spoke with trump says he will nominate a successor for Supreme CourtJustice Ruth Bader ginsburg this week, and he will likely select a woman. Democrats are fighting republican efforts to push through a replacement justice, with joe biden saying there is too much at stake ahead of the election. Ginsberg died friday. The president told the senate to consider his nomination without delay. President trump i think we are going to start the process extremely soon, and we will have a nominee very soon. I would say most likely it is going to be a woman. I someone were to ask me now, would say that a woman would be in first place, yes. Woman, ie of a certainly would say it is appropriate. Karina in other news, china is dismissing accusation it is targeting america. Welcomes Foreign Investment and will continue to open its economy, and insists the unreliable entity list is not aimed at any particular nation. The minister for commerce is holding a small number of foreign entities that have put chinas interests in danger. Iran is rejecting u. S. Sanctions as American Allies in europe dismissed the plan and vowed to stick to the 2015 nuclear deal. Washington says the original accord does nothing to prevent arms sales to the islamic republic. The other signatories say president trumps abandoning of the deal means washington has no legal standing. Global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I am karina mitchell. This is bloomberg. Rish, back over to you. Rishaad thanks, karina. The oracletiktok deal has been given the goahead. This is the combination of week of talks after washington claimed the video app was a National Security threat. President trump we have a deal worked out. Walmart is going to buy it along with oracle. Larry ellison is going to be an incredible combination. All of the technology will be maintained here. They are going to move probably to the great state of texas. Sorry, we have gotten you a lot of business lately. But they will move into the United States, which is important. They will move it to the United States. Unbelievable company. They have 25,000 jobs if it all goes. I give them the preliminary approval. Joined bye are Stephen Engle with a closer look at the deal. The jury seems to be out on whether this is a good deal for the u. S. Because it does not fully address the National Security concerns, or does it . Stephen it doesnt necessarily meet all the demands that the white house had laid down for this deal to be approved. Peopletrump kept guessing whether he would approve it. Buts not a done deal yet, the fine details have to be sorted out between the parties involved. That being bytedance and oracle and walmart. Then you also have to have Chinese Government approval as well, so that is another possible snag. It looks like it will go ahead, with bytedance seeking a valuation upwards of 60 billion. If oracle and walmart and the others involved agree to that price tag, that means oracle and walmart would be investing about 12 billion, oracle taking a 12. 5 stake and walmart taking a 7. 5 stake for a total of 20 . One of the bigger concerns was that means that bytedance has 80 . If you do the math and look at the current owners of bytedance, you have american ownership, including sequoia and others. The map goes 53 of bytedance, of tiktok, i should say, would be american ownership. According to the statements, four out of five board seats would be american, including the ceo of walmart. But again, it is not done yet. We have to wait to see what the Chinese Government does and whether this stay of execution for a week by the Commerce Department actually leads to a deal, and if Tiktok Global can operate in the United States. Haslinda steve, separately on chinese apps getting some reprieve in the u. S. Stephen it is a separate deal, but also on National Security grounds, and that is wechat, tencents operations there. It is not as large in the United States as tiktok, which has 100 million users plus. We chat has about 19 million users, one billion users worldwide. It is a big deal for tencent and their ambitions in the United States. What we are hearing is that yesterday was supposed to be the deadline for the ban to be opposed on wechat, being kicked off the app stores in the United States. But a San Francisco magistrate judge ruled in favor of a wechat users Group Lawsuit that sued the u. S. On grounds of violations of free speech. Thatagistrate judge agreed this is a virtual public square. Let me read you the comments from the magistrate. While the u. S. Governments National Security interests are significant, it the government of the United States has provided scant little evidence that its effective ban of wechat addresses those concerns. Right now, it is an indefinite preliminary injunction, so we will have to see if the government appeals that decision from the San Francisco magistrate judge. Haslinda thats right. Chief correspondent Stephen Engle. Still ahead this hour, the Indian Premier League is set to start after five months delayed, but it will be behind closed doors. We will look at the impact of the pandemic and sentiment with our guest. Rishaad plus, markets awaiting progress on a u. S. Fiscal stimulus package. Our guest joins us with the outlook for global equities. This is bloomberg. Haslinda asian equities are starting the week slightly lower amid a range of headlines. President trump says he has approved oracles bid for tiktok in concept, while tencents wechats ban was put on hold by a judge. Investors are looking for signs of progress on a u. S. Fiscal stimulus package. Withng us is david wong alliancebernstein. Good to have you with us. We have been thinking about this oracletiktok deal. Is it necessarily good news for the markets . Is it a boost for risk asset . Guest thanks very much, haslinda and rish, for having me on the show. I am not sure this is really great news in the big picture. The big picture really being that china and the u. S. Find themselves in what seems to be a cold war with the iron curtain replaced with an information curtain. Will have continued tension regardless of who is in the white house come november or january. Drive whatll will be the theme for the equities markets in the coming weeks . And are you expecting a rotation becoming or about theme in the weeks to come . Guest that is a great question, haslinda. Whether or not we will see the thet rotation away from dominic Growth Stocks that have really outperformed Everything Else in markets across the world by a very wide margin. That growth dominance has been driven by a couple things. It has been driven by growth companies, especially tech, having clarity of earnings when others did not. It came from a record low Interest Rate that have boosted the potential for multiples. Thei think it is because visibility of these companies as longduration Equity Assets that makes them more attractive to investors. What we are seeing in recent weeks is that as this economic recovery broadens and the threat of that recovery actually goes to more sectors, the differential in earnings between tech and the rest of the market is a little less than it used to be. When you have a few issues on the margin like the potential on tech andaxes health care companies, especially if biden becomes president with a democratic congress, we would probably see a little bit of nearterm weight on some of these tech stocks. But we think investors should stick to the longterm potential of Earnings Growth. Given that the Earnings Growth potential of such companies remains very strong, we would not see a need to make wholesale changes at this point to existing portfolios of secular growth companies. Haslinda when you talk about tag, we have seen how chinese tag has outperformed. They are 30 higher than the nasdaq. What are the risks you see . Risks forhink the tech everywhere is simply that have very high valuation multiples and expectations are relatively high, if you miss on those expectations through nearterm execution issues or perhaps or we risk from taxes, have seen in the past blocks to new game launches, for instance. These are always issues investors need to deal with when they invest in technology. Think most of the Tech Companies that investors know well do have very strong longterm earnings outlooks. That earnings trajectory, as long as that visibility remains high, will translate to continued support for multiples. We have seen that in terms of the money flow. When we look at the last week of record there has been high inflows into Technology Funds globally. Wanting to to people buy these steps, so there is support for these types of companies. Rishaad picking up on what youre talking about with monetary policy, has that been the decisive factor in perhaps distorting markets and making people throw out the traditional investing metrics they would have used . Guest i hate to get into the inside baseball or inside cricket of it. But if you think about a companys earnings and cash multiple,ead of as a but you invert that multiple, say it is a 30 times Earnings Company and you look at that in terms of an earnings yield and compare that to a spread of treasury markets, that spread is quite attractive, especially when you assume this company can keep growing cash flows over time. Necessarilys not protect you if, for instance at some point there is fear again of rising rates. When you buy these longduration Equity Assets like big attack, you have to like big tech, you have to recognize the risk you are taking. You are taking execution risk. With credito, spreads where they are, as well as where Interest Rates are, is this a chief reason why you would not be investing in financials, particularly the banks . Guest it is interesting you bring up credit spreads. They are on the tighter side. When you compare most equities regardless of what sector they are in, when you compare them to their comparable credits, they are offering you much more attractive spreads today, which is why many people feel there is no alternative to equities. I think when you speak of financials specifically, we are seeing even where there is rotation into valued companies, it is more into cyclicals than financials per se. You do that is because still have the issues of mpls in the context of the pandemic to deal with. More broadly, you have this very week Interest Rate spread this very weak Interest Rate spread that has no sign of changing soon. Interest rates in the u. S. Will not go up again until 2024 or beyond. Rishaad david, thank you so much. The finance component is the worst performer to date. Military competition in the taiwanese straight is on the rise. We have the latest on that developing story. This is bloomberg. Rishaad you are back with bloomberg markets. A look hong kong, theth borrowed offered rate. Rising three basis points to 0. 5 . It is the highest we have seen since june 16. That is the highball rising three basis points that is the hibor raising three basis points. Beijing is seeking to deter taipei with deepening ties with the United States. Lets get over to our Taipei Bureau chief. What is behind the recent ramp up of thiss military activity in the strait . Reporter simply put, this is how china has decided to show its displeasure and anger at the visit of the u. S. Under secretary of state. He is the number three ranking official in the state department and he arrived for a threeday visit for economic talks and for the memorial of the former taiwanese president. Friday and saturday, tyrees military jets taiwanese military jets crossed the strait, and sure enough, there were no more chinese incursions today, as far as we are aware. To give you some idea of how sensitive the median line the median line is, between 1999 and last year, a 20 year stretch, there were no chinese incursions across list median line. Of lastke that in march year, and since then there have been five incursions. That indicates the ratcheting up of tensions in the Taiwan Strait and how china is using this as an additional tool to express its displeasure with taiwan. One particularly concerning point about last weeks incursions was the fact that according to local media when taiwanese jets went out to counter the Chinese Military or military airplanes in order them to cross back to their side of the line, the chinese pilot said, we do not recognize the median line. There is no median line. This is a case that there could be furthe further incursions to come. Haslinda some say that the risk of war is considerably higher. How has the u. S. Responded to this . Has been noere concrete actions from the u. S. Yet, but what the u. S. Has done is it has said for every chinese action intended to pressure or intimidate taiwan, there will be a u. S. Action to counter that. The u. S. Views itself as something of a peacekeeper here. It views itself as its main role maintaining the status quo, this fragile balance between the two sides of the Taiwan Strait. It views china as having unilaterally altered the status quo over the last few years. They have said they will back for every chinese action to pressure taiwan, there will be a u. S. Action to this. This could range from additional u. S. Officials visiting taiwan, it might mean additional arms sales, it might mean the u. S. Transiting a Carrier Group through the Taiwan Strait, or it could mean an acceleration on talks for a bilateral trade agreement. Chiefda Taiwan Bureau samson alice. Group has one approval to list in china. The Shanghai Stock Exchange gave aboutport after meeting transactions with alibaba, and reasons for excluding alibaba as a common shareholder. The Shanghai Exchange has declared to share ants responses to the questions. All flights are being held from hong kong to kuala lumpur after collecting passengers from india were found to be effective with covid19. The passengers all had documents showing they had previously tested negative. Passengers will be refunded their tickets or allowed alternative travel arrangements. Untiln is in effect october 3. Hong kong is also banning air india flights for two weeks after several passengers tested positive for the coronavirus on arrival. The suspension will affect the one flight from new delhi, and passengers have been informed. Air india flights were suspended last month for similar reasons. Cathay pacific is not operating flights to india during the pandemic. Lets take a look at the state of play as we head toward the china lunch break. No trading in japan for a public holiday. Just having a look at the picture. We have stocks mostly lower. The benchmarks across the board are retreating. We have market momentum shifting a little bit after the feds comments about the u. S. Economic outlook being uncertain. A quick look at chinese markets. Csi 300 off by about 0. 6 . Also looking elsewhere at the fiveyear prime rates. No change from august. The yuan at 16 month highs. That is shanghai. So youre a small business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Haslinda live pictures of the lion city, almost 11 00 8 11 30 a. M. , the nti up 0. 4 , among the few in the money. One stock in focus is singapore airlines, making headlines again. They agreed for a deeper pay cut to save jobs. First officers and captains will have their salaries cut. The most thoroughly the monthly variable will be cut 10 . In terms of other asian markets, trading in japan, a muted stock to the week. U. S. Futures fluctuating. The focus will be on testimony and speakers. The progress in the u. S. Fiscal stimulus package in focus and covid19 deaths approaching 200,000. Indian futures pointing to a lower open, trading will resume after parliament assumes approves two are great culture ofls despite in terms chinese stocks, losses after fridays gains. China holding the lpr for most of one in five years, suggesting chinas target easing is being done slowly. In hong kong, hsbc falling to the lowest since 1995, losing about half its value this year. In terms of the currencies, the yuan up again, coming off its longest rally in two years, boosted by not just a weaker dollar but chinas recovery gaining momentum. The dollar heading for its weakest quarter in a decade. Weakness may persist as demand for havens drop. Byhaad a new investigation journalists claiming some of the worlds leading banks may have been involved in losing moving trillions of dollars of illicit funds. Hsbc encz and Standard Charter are named. Last seen inlows 1995. Lets get to su keenan. The report shows an explosion in the number of transactions at banks flagged as suspicious. Su the report, getting a lot of attention at this hour. It is expected to be followed through as the u. S. Opens. The consortium of journalists citing these documents reports that about 2 trillion in illicit funds have been transferred by major banks around the world over the last two decades. They say this shows huge fines imposed on banks in recent years really have not made much of a difference. Moneylso say banks moved for people or entities they couldnt identify, and in many cases failed to file the required suspicious activity reports. In fact, these buzzfeed suspicious, 2100 activity reports. While the details of the reports are unclear, the quality of these reports in which the banks put out that they believe some of the transfers they are being presented with our dodgy, indicates there has been an explosion of this activity. In fact, the report shows that Deutsche Bank and j. P. Morgan chase where the two largest banks in reporting federal authorities that they were concerned about the amount of money coming through. They disclosed 1. 3 trillion dollars of suspicious money flows in the files. Deutsche bank and j. P. Morgan billion. Closed 514 the analysis found. Haslinda how does this reflect cracking down on illegal transfers . Su there is concern that the disseminated being to a consortium of journalists, is being reported in the last couple hours by the new york times, by reuters, by nbc news, so it is getting a lot of coverage. It is calling attention to what many critics are saying is deep flaws in the system. Policythe Bank Productions in the industry that represents the banks shows that these banks put out the reports to the federal agencies and only a small percentage of them followed through were followed through on. They say many of the banks are allowed to delay the reports and can report that they were concerned with it transfer after the transfer was made. There is concern this will be yet another blackeye for many of the International Banks that between 2012 and 2015 were given billions of dollars in fines. Hsbc and Standard Charter were two of the banks that got big black eyes in the last seven years and those stocks are falling as this is brought front and center. Back to you. Rishaad lets have a look at the first word headlines. The chinese owner of tiktok seeking to a valuation of 60 billion as oracle and walmart take a stake in the operations. 12. 5 and 7. 5 stake taken, respectively. Pay 12nd walmart would billion if they agreed to the asking price. Chinas we chat is under white house scrutiny and says it will continue to negotiate a u. S. Ban that will take effect sunday. The app may not be allowed to accept new years ors in the u. S. And current members may be negatively affected. The ban was halted by a judge as concerns about restrictions on the freedom of speech. The Australian Government expects a nationwide jobs ounce back as victoria prepares for a cautious postcovid reopening. New infections fell to overnight, the lowest in three months, while the 14 day rolling average declined to 34, below the level authorities set for an easing of restrictions. The government is welcoming the numbers as it prepares for the budget. The European Central bank is reported to be launching a review of virus punted prompted bond buying to see whether the flexibility should be extended to earlier than planned. The review aims to conclude next month but the ecb declined to comment. The program was created at about 890 billion in march was but was extended to calm the market. Breaking news. Be lifting ipoto funding targets to 35 billion which would make it clearly the biggest. Haslinda thats right. They have one approval to list and hang in shanghai. It is clearing a hurdle in the wake of ipo plans. It has been hit by regulations. Jack ma says they are going to to 35e ipo target billion. They want to raise 28 billion dollars, making it the largest ipos it passing saudi aramco. Athaad lets have a look bank of america. They say the economy is 95 bank back but or stimulus more stimulus is needed. Our beliefs, our Research Team says the u. S. Is down 4 for the year and next year we will be up 5 or so but the key is to think about it quarter by quarter. You have a drop in the economy last quarter, you are back up to 95 of the economy back and restored on a quarterly basis, then we will work out from there but behind that was a 1 2 growth economy. The idea of recovering those last five percentage points, it will take a while. Every estimate including the one from chair powell yesterday has gotten better rather than worse. That is because consumer activity stays strong. The fiscal stimulus, the monetary stimulus, the programs thefed had between government and administration congress, what the fed did, they toically filled the whole bring the economy back to level. We have to let it work out from there. They probably need more stimulus for to find places that are still in difficulty, restaurants, state and local governments, schools, performing events venues, airlines and other things. You cant have people do it at the rate we had before. But dentists offices are back, busier than they have ever been. Consumer spending is up yearoveryear. See it good news, so we start to grow finally. It was growing at 10 , it fell and it has worked back to even and we will probably see it grow yearoveryear. That is good news for the economy meaning that amount of activity means our economy is restored. Chair powell said we are better off now than we thought we would be, but he also said there is lots of uncertainty. You mentioned fiscal stimulus. How bad do we need that . We have an election coming up. And we dont really know about a vaccine. This is a Health Care Crisis. I said it in march and i have said it to you a few months ago, people cant forget that. This is a Health Care Crisis so what has happened over the last six months in a Health Care Crisis, you see the potential for a vaccine but more importantly you are seeing better behavior to keep it from spreading. As we see in the northeast, you have seen it crest over and infection rates are different than they were early on. You see the infection rates fall, that is good news. The treatment regimens are different and because of personal behavior, people at high risk being more careful, the impact of the virus is still hugely hurtful to the people who get it but not as bad outcomes. That is good news as we wait for the vaccine, which is some time out there over the next several months. That would be good news. Until that is and everybodys arm, you will have the drag of, will people go back to their behavior before . It is a Health Care Crisis. What we need i think is straightforward. More stimulus for the people. You think about the analogy, we are all on one side of the river and we have to cross the river. We need to abridge. Many people are across the river. Some segments of the economy are better than they were before the crisis. The medical industry is back to normal now because Hospital Capacity needs to be held aside for the virus treatment. The housing industry is strong. The Construction Industry is strong. Those are across the river. You need help with restaurants and things like that. The next round of stimulus should be focused on the areas that need the most help. Ppp, the next round, should there be a second bite of the apple . I think so for Certain Companies because this went on longer than we thought. Bank of america Ceo Brian Moynihan speaking to bloomberg. As thai come, a protest activists demand greater democracy. This is bloomberg. Rishaad you are back with bloomberg markets. Liftmas and group set to its ipo funding target to 35 billion dollars, seeking to raise at least that some in the initial Public Offering after assessing investor interest. This coming from people the mill your with the matters familiar with the matter. Friday saw shanghai approval for the ipo, later this week we should get hong kong approval. Lifting the ipo target based on the valuation of 250 billion dollars up from previous billion, of about 225 it was expecting to raise at so 5 billionion more than anticipated. Haslinda that is right. It may top saudi aramcos 29 billion. In thailand, the biggest antigovernment protests have ended with calls for a general strike as demonstrators challenge longheld taboos on authority and the monarchy. Lets head to our reporter. What do the protesters want . You are on the ground. What was the mood . Wanted changesrs in the constitution that would lead to greater democracy and less power for the monarchy. They wanted the resignation of the Prime Minister and his government. They wanted monarchy reform, including a call for revoking the countrys laws and a separation of the monarchs properties from the Crown Property bureau and aligning the palace budget with economic conditions. It was lively. People braved the light rain on saturday and some stayed overnight for more events on sunday. Idea of thee us an significance of the weekends protests. It is the biggest demonstration since the 2014 military coup. The organizer estimated 50,000 people have joined the gathering. Theseamps overnight, demonstrators are essentially breaking the deeply entrenched taboos in thailand where openly or to sizing the senior members of the royal family could lead to long jail sentences. Over the past few months, we have seen this protest expand with various groups setting and putting out their demands online. , what willandy happen next . What can we expect . Now calledorganizers for another rally this thursday, a general strike next month on october 14. They urge supporters to show solidarity by not spending standing during the royal anthem. They called for a boycott of a commercial bank in which the king is the biggest shareholder. Political Analysts Expect this movement to Gain Momentum in the coming months with more people joining the movement. Randy joining us there from the thai capital. Indian markets, taking a look at the flat open over there in mumbai. Redave the sensex in the but marginally and the nifty marginally in the green. A couple stocks we are watching, Hcl Technologies is going to be acquiring a company in australia. Paying 158 dollars australian, 115 million u. S. To acquire an i. T. Solutions provider. You can see them surging sit surging in the session. 31 higher for dws. Biggestp, trichets spectacle crickets biggest spectacle but no fans in the stadium. Will this season deliver responses . That is next. This is bloomberg. Rishaad the coronavirus has taken a toll on virtually all aspects of life, including sports and the cancellation of wimbledon, the postponement of the olympics. Crickets Indian Premier League kicked off last weekend but it is taking place in the United Arab Emirates and is the first competition played behind closed doors. The brand value could fall by as much as 15 . A Senior Advisor of Valuation Services at a Financial Advisory firm joins us. The brand value falling by 15 , surely could it surely it could be more than that . It may not be that bad. I would say that the fact that the tournament is going through in this time is a positive thing. There have been some i would say negatives, for example the Title Sponsor pulled out. The Title Sponsor pulled out, replaced at half the price. There are a couple negatives. No crowds in the stadiums is a negative, but the fact that the indian cricket board was able to find a sponsor in the last 30 days was amazing in these tough times. From that perspective i say it is all not all negative. There are positives. The viewership is expected to be significantly higher this time. There is not much content out there. A lot of sports tournaments are canceled. People are all at home, no travel, no entertainment options, so more viewership and that would mean more revenue. There are certain positives. It will all not all be negative. Rishaad what impact does a lack of people in the stadiums and the fact that it has been played as of the uae, not even in india itself . To,ay be difficult for you for people to be attracted to advertise there. You have a lot of chinese mobilephone companies that used to sponsor the ipl but because of these frictions between new delhi and beijing, they are not there anymore. What impact do those tensions play onto the bottom line . Stadium iss in the actually, from the numbers perspective, from the value perspective, not such a big negative. The revenue is not very material. From that perspective on the numbers, bottom line it wouldnt have a significant impact. It could have a smaller impact. Some sentimentwise, no crowds means less enthusiasm. Teams need people backing them. Enthusiasmfrom perspective more than commercial aspects that would be a negative about crowds in the stadium. , chinese mobilephone spenders and big it comes to sponsorships. They actually, staying on the sidelines, that is a negative. But there are alternatives. There are other companies, other telecom companies, Consumer Companies which are doing pretty well during the pandemic and they would all come to the fore and they would be a good replacement for these channel chinese mobilephone companies. Haslinda will there be a longterm impact on the pullout from chinese advertisers . We talked about vevo mobile. Mobile. Do you see longterm implications . As we stand today, nobody knows whether it is a pause and they would come back next year, or if that wouldnt happen. Nobody knows. Andverything goes on fine covid is under control, the next season is within six months. There is a possibility that they might not be able to come to, come back next year in six months, but if they come back, nobody knows. It depends on the circumstances at this point. But there are enough Consumer Companies which actually have commercial reasons to actually be associated with a property companies,o large this doesnt mean that things would be bad. There are plenty of Indian Companies and Global Companies outside china which would actually be happy to invest in this property. So nobody knows today whether viva is putting out a temporary one, or if it would have a longlasting impact. Rishaad thank you so much for joining us. Word on what is going on ,arket wise, a bit of drift three weeks of falling u. S. Equities making the negative sentiment felt in this part of the world. Hsbc down over 3 , levels not seen since 1995 for this stock. Right now, seeing what we have, essentially Standard Chartered racing for a renewed assault on chinas sanctions amid concern diplomaticating tensions that did Collateral Damage to the banks. Tencent 1. 2 to the downside. Up 47 . Securities toacquired a bigger rival create an entity worth Something Like 13 billion, the latest bit of consolidation among the 130 brokers in the country. A look at what is going on, 47 ,p and elsewhere, tencent escalating tensions between beijing and washington over tech playing out. Like asia taking a pause this monday. That is it. Daybreak middle east is next. This is bloomberg. The following is a paid program. The opinions and views expressed do not reflect those of bloomberg lp, its affiliates or its employees. The following is a paid presentation brought to you by rare collectibles tv. Our country was founded on life, liberty, and the pursuit of happiness. Representing this idealism is our american eagle. The bald eagle was chosen in 1780 two to represent the United States because of its longif