And it's 7 30 a.m. here London very good morning I'm Caroline Hepburn So in markets this morning we've got Chinese economic policy makers shifting towards easing mode that triple R cart That seems to be the thing lifting stocks in Asia so you've got the CSR 300 up by 6 tenths of 1% And broad gains in Japan are in Hong Kong and in Australia the MCI a specific index up by 1.7% This morning also had some strong export input data out of China this morning Futures for the U.S. and European market open also are positive The big debate in markets is around how much to buy the dip whether this is the moment or not Some ETF investors seem to think it's all in others not As for the bond markets we watch evergreen the overdue coupon payments the 30 day grace period is technically expired We'd had one headline on the brink terminal this morning saying that bondholders had not received that payment no comment yet from evergrande but we're watching this developing story This as oil is at 1.9% $70 78 WTI crude features the dollar pulls back down a tenth of 1% this morning and you are benchmark yields at one spot four 5 5 up two basis points as Germany's begin trading in Europe at negative 35 basis points Also up by four close to four basis points for Europe Let's go to our top stories then And an exclusive to Bloomberg sources tell us that the U.S. and European allies are now weighing sanctions targeting Russia's biggest bangs If president Vladimir Putin invades Ukraine the sanctions are among the options that president Joe Biden may spell out when he speaks to Putin in a video call later today here's a preview now from Bloomberg's Nathan Hager in Washington The White House says President Biden will underscore U.S. concerns about Russian military activity near Ukraine's border and reaffirm U.S. support for that country's sovereignty and territorial integrity Last week President Biden said he anticipated a long discussion with Putin about the threat of a Ukraine invasion the Kremlin says the Russian leader will listen with great interest to Biden's proposals but according to Russia's task news agency Kremlin spokesman Dmitry peskov is warning against quote exalted emotional hopes for the video conference In Washington I'm Nathan Hager Bloomberg daybreak Europe So I cast on what happens in Ukraine next Meanwhile here in the UK consumers splash the cash in November as Black Friday boosted sales of clothing toys and jewelry and spending on bars and restaurants also rose total sales in shops and online were 4.1% higher than in the same month for 2019 That's according to the British retail consortium and KPMG separate data from Barkley card also showed overall consumer spending jumped by 16% in the UK And I mentioned ever ground in the data around up this morning it is on the brink of default some of the property developers bondholders say that they have not yet received overdue coupon payments as a month long grace period comes to an end ever grant has made no comment the developer did say in a brief exchange filing on Friday that it plans to actively engage with offshore creditors on a restructuring plan And just lastly a deal in corporate news a group led by BlackRock has agreed to invest 15 and a half $1 billion in Saudi Aramco's and natural gas pipelines The group will buy a 49% stake in a new entity called Aramco gas pipelines which holds a 20 year leasing right for the network So the plan is part of Saudi Arabia's efforts to open up to more foreign investment and then using the funds to diversify its own economy Right those are a few of our headlines That's one of our key interviews that you should listen to the trade talks between the UK and the United States The government here is saying that it's moving forwards on trade engagement but with individual American states in an exclusive interview with remain bostick Taylor Riggs and solely bass act The section of state for international trade in the UK amery trevelyan tob Bloomberg that the government stands ready to resume talks with Washington on a broader federal deal too We have a fantastic bilateral trade relationship with the U.S. over 200 billion a year of trade between our two great nations But of course we want that to be more we want to reduce some of the barriers to trade that still exists And with that we are looking to continue to work on the comprised comprehensive free trade agreement that as you say a lot of the work was begun under the previous administration at the moment and I completely understand why the Biden administration is focused very much on its domestic issues COVID has put pressures on everybody and it's no different here in the U.S. but we stand ready to pick up and continue those negotiations with the team as and when there's a capacity to do So in the meantime I'm here to have a chance to catch up with ambassador and secretary Ramon do to talk about trade and more widely think about the many issues that we're working on together not only by Lashley between us as two nations but thinking about how we provide that global leadership on so many issues When you sit down with your two pairs there and you ask them about these tariffs you ask them about some of the trade barriers that are still in place The legacy of the Trump administration and a legacy for the most part the Biden administration hasn't touched and he's not really made a public statement about being willing to touch them What's the persuasive argument that you make to them So I think in a number of areas we're working very closely together and we want to continue to grow on that particularly in something like green trade where the U.S. has very much come back into the global conversation It was wonderful to have John Kerry really advocating on behalf of the U.S. and for the world at cop 26 in Glasgow with us just a few weeks ago And those relationships are so strong and so important And on the side we want to think about tackling feels like steel transfer We were very pleased that last week the axe put through to remove the remaining issues for lamb Exports from the UK to the U.S. so that's a really exciting 20 years in waiting to be sold So that's one that's my land farmers in Northumberland where my constituency is will be very pleased about I'm really curious about your conversations with secretary raimondo in particular What seems to be her priority in regards to negotiations with you So I'm looking forward to meeting her formula Then you have the chance to be to virtually so far as so many cases so when we're looking forward to having the chance to have a proper conversation with her face to face and we're keen to discuss a broad range of issues in the trade space not only how we might pick up on the FDA in due course but things like female empowerment investment in female businesses and issue that not only in our two countries but globally is something that we want to tackle and we want to really drive forwards on You know you mentioned the FDA And we talked about Gina raimondo and we know her as the former governor of Rhode Island There's been sort of this key shift and I'm curious your thoughts on this and more of a state by state approach to focus on maybe New York or California whether that be agriculture a digital is that a pivot a state by state approach So we are doing that now whilst we wait the opportunity to pick up to carry on the overarching comprehensive conversations One of my ministers honeymoon is presently in California having exactly this conversation since she'll be also visiting Georgia and Tennessee and South Carolina and Oklahoma in the ranch Christmas and maybe doing a bit of Christmas shopping while she's here Enjoying all that the U.S..