This is a relief that iran is not escalating further after the retaliatory strike from israel on friday. We see the focus shifting back to the fundamental spirit corporate earnings and u. S. Data due this week on growth as well as the feds preferred gauge of inflation. The hang seng is leading the charge to percent higher. We see the nikkei bouncing back today in japan. Bonds under pressure. Amid all this, the boj is set to hold rates on friday but given how the week yen is affecting the outlook for inflation, there are some bracing for the Japanese Central bank to perhaps start announcing quantitative tightening. We are also seeing among Asset Classes the stocks in the chips as well as the tech sector. Those are the ones bearing the brunt of the selling. Infotech down extending declines from last friday. Look at some of the movers. This is against the backdrop of nvidia that tumbled 10 on friday. The steepest drop in four years. Begging the question whether they will live up to the High Expectations regarding the ai theme. Haslinda it is still among the best performers yet year to date. Markets will focus on u. S. Big tech earnings. Tesla, microsoft, meta, and alphabet are all do. We are hearing it is all big tech. Big tech has great Balance Sheets with a lot of cash and little debt. Companies generating extraordinary amounts of cash flow are still doing well. Tech is a big part of the quality story. Looking out 1, 2, three quarters, it will start running out. You cannot just have tech doing well. It will be a good distraction for the market, to have a look at what is going on to see whether the valuations are supported by the fundamentals. Haslinda big tech, big expectations. Lets get analysis with our mliv strategist in singapore. Mark the postsurvey focused on the risks coming from treasury yields may be reaching 5 as the biggest factor which may weigh on earnings in the earnings season. Slightly less worried about the ai impact. So companies would not come through on these wonderful promises of where ai is going in terms of her earnings. Most of the survey was done before and video dropped 10 . As we go into the period where most of the magnificent seven reporting this week, people will be concerned especially as that particular stock has become the favorite of the retail crowd. It used to be tesla but it has switched to nvidia. Turnover is dominated by what retail pundits are doing. The investor crowd should be wary because they are seeing what happens when the regional crowd turns against the stock. The relative news coming from tesla is not great but the regional crowd has turned its back on it. Nvidia needs to fulfill a lot promise for the whole sector. Otherwise, if Retail Investors turned against it, could be bad for the broader markets. Haslinda earnings are one issue and the other is the yields, whether it gets to 5 . The fed how will it play out with more key economic u. S. Data, pce, case in point. Mark our bloomberg economists expect the numbers to take up slightly which will be a problem for the fed. Look at december. They were putting a lot of weight on the fact that the pce number was going to come in below 2 and give them the reason for starting on lowering Interest Rates. That is not happening. Some disappointing cpi reports. If they get another one into the mix, people will have to think seriously about whether we see any rate cuts in the Third Quarter or are we talking Fourth Quarter. The fed speaker is saying they only see one cut are starting to look like the bright guys in the room. That is putting more weight on where the next dot plots are going to be. In june, it looks like it will be difficult for the fed to maintain an outlook where there are three Interest Rate cuts this year. Time will have run out unless we get soft data between now and then. And we also have a lot of treasury issuance this week. The bond market will be extra volatile because it has to absorb a lot of issue wins on top of what the expectations are in terms of the pce data. Haslinda mark cranfield, thank you for your insights. The feds preferred measure of inflation, the pc, the numbers are due the pce, the numbers are due this week. Our next guest says bonds are attractive with hi carrie. Lets bring in our guest as founder and cio of silverdale bond funds. Where are you putting your money right now . Sanjay we still see a lot of in the 35. Even with there are no further rate cuts, it gives a fantastic carrie and even if god for bid there are two hikes, it still gives you a positive return for the next three months. Haslinda what makes you think we have reached peak rates . Sanjay if you look in terms of the real Interest Rate, they are close to 2 . Real Interest Rate at 2 is rarely sustainable. The other thing is the broad prospect of the economy itself. The economy is robust. If you look in terms of the parameters, i think we are seeing cracks in the economy. For example, we talk about the consumers being robust. And they are indeed. What we would tend to overlook is if you look in terms of auto loans, they key point to notice is when you look at the bottom quarter, we are close to 2008. Likewise if you look at corporate bankruptcies in 2023, they are almost equal to the previous two years. In terms of quantum, they are nowhere near the average. From that point of view, we dont see a strong reason for the fed to go for further rate hikes. Haslinda we saw 2 year yields breaching 5 and now just below that level. What would it take for 10 year yields to get to 5 and might we see that . Sanjay rather than focusing on key data points from the investor point of view, it is better to focus on the big picture. Look at the forest rather than the trees. You are only talking about bond returns at the highest we have seen in many decades. The key point will be inflation. From the inflation point of view, the key problem in terms of sticky surface inflation 44 of the cpi [indiscernible] we already know that rents have come down. We are not seeing any further reduction in rentals for quite some time and that could be some cushion. In the immediate term, barring we think the inflation is still on the downward trend. Haslinda there is so much conviction that you should be putting your money to work right now. There are trillions of dollars sitting on the sidelines. When do you see it mobilized . How will that play out in the market . Sanjay if you look in terms of a shortterm point of view, we are already seeing money flowing into the fixed income. Specifically, we have already seen more money moving into money Market Regional funds and liquiditys and a fixed income. I agree, [indiscernible] we are seeing a certain rotation for example, the Technology Shock point of view. People are moving away from the and into fixed income here what is interesting is while the numbers dont look very , if you look at the surface, you see clear trends in terms of the fact that the money [indiscernible] specifically Insurance Companies and pension funds. People are willing to lock in the moneys for medium to longterm which is something we have not seen for almost a decade. Haslinda what is the biggest risk to your base case right now . Sanjay in terms of the risk, we define it as a known risk. The lag effect of market policy. The hike we had. It will crack the economy. We see cracks already. We do know that will come. We dont know how fast and how much there will be. It is a known risk. The unknown risk is in terms of the geopolitics. Week that is out of control. Geopolitics is difficult to predict. But it is something to be careful about. Haslinda not to mention that the markets have been wrong when it comes to the fed rates path. Our guest is sticking around. Mobilehealth Network Solutions is this years hottest u. S. Ipo and we keep and we speak with their cochief executive later this hour and we also speak to Hindustan Zinc to talk about that companys earnings. A severe oil shock if tensions in the middle east further escalate is a warning from our guest. Keep it here with us. This is bloomberg. Haslinda welcome back. The imf deputy managing director says the potential for Oil Price Shock from escalating tensions in the middle east would be problematic for the global economy. We also discussed the outlook for u. S. Interest rates and the imf spring meetings. This is a risk we worry about. If there is a serious as collation, which means a much wider regional escalation, then we could have a severe oil shock. We are not there yet. And in terms of oil prices, it went up some but has come back down. We have supply excess capacity in saudi arabia. We have nonopec countries putting more oil on the market. There are other supply sources that can buffer the shocks. If there is a large scale escalation in the middle east, that can be a problem. Is 100 dollars a barrel consistent with a shock . Going from here to 100 a barrel will be difficult for countries dealing with the last inflation fight. The imf has talked about sovereign debt particularly in the u. S. And the overhang there. What is the outcome of that . Is the fear of sluggish growth because the overhang . Is it over is it higher rates . Is there Something Like that that could happen . The u. S. Is running large deficits for a country where demand is strong and there is still the last mile in terms of bringing inflation down having a deficit of 7 of gdp, it has to be lower. That has consequences for debt servicing in the u. S. But the bigger problem is the spill over to the rest of the world. For the rest of the world, when you have so much debt being issued by the u. S. , that can crowd out the borrowing by other countries. The cost of borrowing goes up. I would not say the u. S. Has a debt sustainability issue right now but if the u. S. Is borrowing that heavily, it has implications for the rest of the world and cooperations and households in the u. S. How much higher . That would not be our baseline. We would expect to see rates coming down. Right now it is about getting inflation back to target. We expect it to come down. It will take a little longer. The question is whether it comes back to where we saw haslinda that was the deputy managing director of the imf. Lets bring back our guest who manages over one Million Dollars as founder and cio of silverdale bond funds. It is problematic. We have higher dollar, higher yields. It is problematic for emerging markets. What are you doing with emerging markets . Sanjay it depends on which emerging market you are talking about. In terms of asian emerging markets, india, pakistan, they are importers of oil. If you look in terms of brazil and other countries that produce oil, this is marginally. From the oil point of view, you have to see each emerging market differently. Also keep in mind the fact that the six plus from the beginning of the year to three minus. The emerging market currencies are having a hitch. It is the reason why we prefer to look and terms of how to work with the emerging markets. Haslinda lets delve deeper into the indian market. Investors seem to be losing the love when it comes to indian debt. Despite pumping in dollars on the back of the expectations of inclusion on the bond index. Sanjay india is interesting because of two reasons. From the fundamental point of view, the stars are aligned for india and they are doing a fantastic job of investing in the future. Including Green Infrastructure and an ecosystem and ensuring that india grows at a considerable pace. It is one of the Fastest Growing economies in the world. And that means more opportunities. Today we are talking about from the currency spaces, it does not look as affective. Talking from the longterm point of view, india will see a huge benefit. There are numerous indian names that look attractive. And even the geopolitical issues , there is an opportunity to pick up those names. Haslinda you have been an early mover in india. I wonder if you are unwinding those positions right now. Sanjay not really. We are when we see the validity volatility, [ indiscernible] if you are talking about indian ig, it is very tight. In terms of india , it gives you a market value. Haslinda before we let you go, it is hard to talk about india without bringing china in comparison. Are there opportunities in china . Sanjay yes. It is interesting when people talk about china not growing. Let me remind people that we are still talking about China Growing at five point 3 for the second largest economy in the world. Especially when you contrast it to the euro zone. The key point is this, people are overly focused and terms of the property sector in china and for the right reasons. It is indeed in shambles. But if you look and terms at the actual breakup of where the china growth is coming from, it is coming from tourism, from evs, from electrical machineries and resources. One example if you look in terms of what the Chinese Government has done in terms of helping people to buy they do vested [indiscernible] wonderful opportunities there. Haslinda silver dare bond fund, the cio, thank you for being here. Plenty more ahead. Keep it here with us. This is bloomberg. Haslinda we are keeping a close eye on big tech on the back of tencent. A new game called dungeon. The game originally released in 2022 is expected to give tencent a boost with its china debut. Tencent surging with 4 gains. Sunny optical up 3 . Our exclusive interview with mobile health Network Solutions. We will hear what is next for the company after a successful u. S. Listing. Keep it her haslinda i live from shanghai. Welcome back. China markets heading to lunch. Csi 300 index reversing gains and now in losses. Down. 2 . Recapping the banks, they kept their lpr unchanged tracking the decision increasing pressure on the chinese yuan. Csi 300 index down. In terms of the yuan, 724. 29. China headed to lunch and japan back from lunch as we check in on how japan is doing. Today we have been seeing japan, part of the relief rally across the asiapacific. A sense of relief coming through because there is further escalation given the middle east tensions from last friday. The nikkei coming back from the lunch break repairing some of the gains from the morning session but it is a rebound. A rebound though that is still about 9 lower from what we saw in the peak in march and that was post doj rate hike for the first time in 17 years. We are on the local we are on the lookout for the boj on friday when it is set to hold on rates. Given the takeup in oil prices affecting the inflation outlook, there are some pockets of the market that think that the boj could announce the start of quantitative tightening and it could do this through the reduction of bond purchases. Bonds under pressure. Also in japan, what we are watching out for are the automakers. Nissan missing on the profit forecast as sales came in weaker. Honda is set to be on the cusp of a deal with canada. A multibilliondollar packed could see the automaker making vehicles and components in ontario province. This comes at a time when the ev industry is at a crossroads. We see perhaps some slow consumer uptick because of the high prices and the lack of charging points. It seems they are making the bids for the longterm. Haslinda teslas move risks triggering a new round in a bruising price were up your discounts and cash rates. The stock is taking a beating. Elon musk is has decided to postpone his trip to india blaming the delay on pressing issues. His visit was supposed to include a meeting with the Prime Minister and a potential announcement on his Investment Plans for the country. Lets get more and dig deeper. What a bummer. That visit was meant to bring some new investments. There was so much excitement prior to that. This is not the first time. He has also promised to visit during a famous platform which happened earlier this year. He promised to, but he did not turn up. This is the second time he has promised and has not been able to make it. This time he had plans to meet the Prime Minister and announce a certain thing about tesla opening show rooms and we also expected an announcement for starlink which could be a rival for another company. He said due to heavy obligations , he was canceling. It does not actually a cancellation but a postponement. He promises to come later this year. We will keep you posted on that. Haslinda of course you will. You have to wonder, what difference elon musk and tesla would make in the ev seen in india. As you rightly pointed out tesla is facing stiff competition. [indiscernible] india is a natural destination. Hoping elon musk could make it into the market. Huge land parcels and a talent pool have been offered to tesla. India and garman feel like india is the right market for tesla. For india, it would be a big win if tesla came to the country and announced a plant. The Prime Minister is contesting elections and vying for the country. Haslinda the latest on the scene in india and the delayed visit of elon musk to india. For a deep dive into tesla, users can read the big take on the terminal at and i big take or on bloomberg. Com. Here is one stock to keep an eye on. Mobilehealth Network Solutions. It is a start that went public on the nasdaq less than two weeks ago and is this years hottest u. S. Ipo. The stock is up almost 600 for more on the expansion strategy, we are joined exclusively by the coceo, rachel. Good to have you with us. 600 can the Company Really justify that kind of upside in its debut . Rachel thank you for inviting me. I am extremely pleased with the strong market valuation. Im not surprised with this strong endorsement. It is all on one platform. And we provide an allinone Affordable Care which is not only ai driven but truly humanized. If you ask me if i am surprised, i am not. And we will continue to work hard to build this. Haslinda how do you build investor value from here . What is the growth plan . Rachel thank you for the question. 45 of the net receipts will go to our development of ai health companion. We will also be investing in our Health Operating system to ensure our doctors have amassed a robust system which is industry specific platform. We will also be looking at geographical expansion. And a 50 of the proceeds will go to strategic acquisitions. Haslinda rachel, we know that you tapped a small, unknown brokerage called network one for your ipo and we know the brokerage has done other boom and bust ipos, the likes of game stop. Im wondering, are you concerned that your company could suffer the seeing fate . Rachel we have looked at the failure. We are pleased with their performance. And so far they are most responsive and professional in handling this. And we have received strong market validation on this. A fair market would recognize what we are doing and the value that we bring to the table. Haslinda you are confident that mobilehealth Network Solutions will overcome those kinds of concerns . Rachel we have consulted our legal counsel. We are very happy with network ones responsiveness and professionalism. Haslinda any plans for a dual listing in singapore . Rachel we are listed for less than two weeks on the nasdaq. We are at hundred percent focused on nasdaq. At the moment we do not have a concrete plan building elsewhere. Haslinda on the longerterm plan, in terms of longerterm strategy, it could a dual listing work for you . Rachel well, look at the current expense. We are 100 focused on nasdaq at the moment. Haslinda talk to us about your expansion plans in the region including australia. Are you planning to add headcount to these markets . Rachel we are looking at expanding regional especially in vietnam, indonesia and malaysia. These countries have a combined population of half a billion and they are one of the fastestgrowing economies in in the region or the world. And they also have a relatively younger population who is more receptive to our Innovative Health care solution. These are a few countries we are looking at at the moment. We are also mindful to the local regulatory framework. We are very experienced doctors. I have more than 20 years of experience. We will be guiding our doctors to uphold a standard of care. Haslinda one follow question before we let you go in terms of profitability, when might that happen . Rachel at the moment we are looking at expansion and the price we are quoting is very affordable. We are talking about in singapore dollars, about eight dollars up to 25. At the moment, we are looking at expansion to increase user growth. We could increase the price by two dollarsthree dollars and we will turn profitable at any time. But that is not what we are working on at the moment because we are currently focused on building our platform and also working on the ai health companion. If you ask me when do i want to turn the company profitable, ok, it can be done at any point but at the moment we still want to make sure that we provide value to our users and patients. We want to ensure that we build a Strong Foundation for the company and enhance the capabilities before we think about profitability. But it will come soon. Haslinda rachel, thank you so much for your time today. Mobilehealth Network Solutions. Earlier we talked about network one and the ipos that it has done. It is not gamestop. It includes laser photo tonics. Among 20 other companies that have gone ipo. Still to come, Hindustan Zinc there ceo joins us with the outlook. Keep it here with us, this is bloomberg. T . Boring. Think about it. Boring is the unsung catalyst for bold. What straps bold to a rocket and hurtles it into space . Boring does. Boring makes vacations happen, early retirements possible, and startups start up. Because its smart, dependable, and steady. All words you want from your bank. For nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled. Which is pretty unboring if you think about it. Haslinda you are watching india focus. Hindustan zinc is the worlds secondlargest zinc producer and the largest silver producer. 21 drop reported in net income in net income in the Fourth Quarter with revenue falling 12 for the year. A 28 drop due to zinc crisis. What assumptions are you making about zinc prices in the coming quarters . Arun zinc prices are up. My guess earlier was that we would be touching 3000. But it looks like it will be the end of september. Haslinda in terms of demand for zinc to drive prices, what would be some of the reasons . Arun one of them being lmes. Also we see a lot of volatility in the economies in the u. S. , europe. India is leading the pack. And we see in india [ indiscernible] we are highly we are operating in india. Haslinda there are a lot of challenges including geopolitics and tensions in the middle east on the red sea. Might that impact your business . Might it impact your experts . Arun right now our exports are not impacted. 80 is in Southeast Asia and a small percent is in the middle east. Nonetheless, looking at the geopolitical situation, perhaps before the world was more fragmented. We have learned to have one market. Im sure that will be the way to go in the future. Haslinda what are you seeing in terms of the supply of coal this year and in the summer . Arun in general, supply will be affected. [indiscernible] in another couple of years, 90 of the power plants will be closed. Haslinda what assumptions are you making about coal prices in the coming quarters . Arun coal prices are going to move up but not as much as i guess because i dont see any dysfunction in the supply on the coal side. Haslinda we know your board has driven a strategic restructuring of the company. How is that coming along . Arun the ideas are in place. A number of things have to happen so they are working those out. Haslinda talk to us about where talks are right now about the Development Plan and when that may happen. Arun i personally went with government offices and mobile in mumbai. Perhaps they are waiting for the right situation in the markets. [indiscernible] this is the right thing for the government. Haslinda there are some reports that perhaps the government is against the split. Can you provide some confirmation whether that is true or not . Arun it is not for or against an idea. The whole idea was about splitting the company. We understand business. We know how to take risks in business. We also know how the market operates. We believe we can split the company into a silver and into a lead and zinc company. The lead company will have its own set of investors. And that will push up the market cap here that is our belief and we are private businessmen so we have an idea. Haslinda speaking of silver, we are seeing a runup in silver prices recently. What assumptions are you making about prices Going Forward . Arun prices are currently around 29 an ounce and i think it will go up to around 32. The profit is a huge focus. [indiscernible] we believe that the situation is going to continue. Haslinda in terms of shortages for us over, do you see that persisting beyond 2024 . Perhaps we will see the same story in 20 25 or longer . Arun i think even longer. In my calculation, minds have to expand. Mines have to expand. Haslinda talk to us about your Investment Plan for the year and where you will be putting your money. Which sectors in particular are you looking for new mines . Arun our current investments, we are investing to increase so we can produce more. We are on the drawing board for doubling our production in india. We should be able to make a public announcement on that project and lay out the timeline. At the same time, we have listed or not listed but we have a Subsidiary Company dedicated to exploration. The government of india has put [indiscernible] i see another 18months and we will 1820 months and we will move beyond silver. Haslinda we know that the Prime Minister is set to win the elections for a third time. What policies would you like to see from his government that would benefit Companies Like henderson zinc hen distance Hindustan Zinc . Arun we have seen the air force is operated [indiscernible] haslinda it has been a pleasure having you on the show. Thank you so much for your time today. Plenty more ahead. This is bloomberg. Haslinda asian markets in the money. Keeping a close eye on asian chipmakers. Not a good story. Red across having to do with nvidia. It is the steepest plunge since the start of the pandemic in march 2020. Samsung electronics down by 2. 5 . Keeping an eye on korean stocks. Rallying under reform hope. That is it from Bloomberg Markets asia. Daybreak middle east and africa is next. This is blooerg people couldnt see my potential. So i had to show them. Ive run this place for 20 years, but i still need to prove that im more than what you see on paper. Today im the ceo of my own company. Its the way my mind works. I have a very mechanical brain. Why are we not rethinking this . I am more. Im more than who i am on paper. The following is a paid program. The opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. Annnouncer the following program is a paid commercial announcement from great healthworks. Connie welcome. My name is connie craigcarrol