5 things to start your day

[Bloomberg]( U.S.-China trade talks begin, government shutdown set to continue, and Brexit is back. Talks start The first day of negotiations between the world’s two largest economies on resolving their trade dispute seem to have [got off to a good start](, with Chinese Vice Premier Liu He unexpectedly attending what was meant to be a discussion between lower-ranking officials. While no breakthrough is expected at talks this week, they will lay the ground for [senior-level discussions]( later this month, and a possible meeting between President Donald Trump and China’s Vice President Wang Qishan at the [World Economic Forum in Davos](. Both sides face a resumption of tariffs in March if no deal is reached. Not talking No further meetings between White House officials and Congress are planned after talks over the weekend [produced no breakthrough]( to end the partial government shutdown, with both sides remaining far apart. Costs related to the funding curtailment, now in place since Dec. 22, are rising with businesses losing an estimated [$200 million a day]( in missing or delayed revenue. Trump, who says he is happy for the shutdown to continue, has suggested he may [declare a national emergency]( to allow funding for the border wall to proceed without Congress. Sponsored Content by Masterworks.io Want to own part of a $2,000,000 Warhol, or a $6,300,000 Monet? The art investment platform Masterworks.io lets you buy shares in high-end—and usually inaccessible—art that has consistently outperformed the S&P 500. [Check it out](  Still talking After a holiday break where [not much happened at all](, Brexit is returning today to continue its domination of the U.K. political agenda. With just 12 weeks left until the U.K. leaves the European Union, Prime Minister Theresa May is under pressure to get her deal through parliament, with a vote still [expected next week](. The back and forth ahead of the vote is set to dominate [pound trading]( this week. Markets mixed Overnight, the MSCI Asia Pacific Index added 1.8 percent as optimism over trade negotiations lifted equities in the region, with Japan’s Topix index closing 2.8 percent higher. In Europe, the Stoxx 600 Index was 0.3 percent lower by 5:45 a.m. Eastern Time in a quiet start to the week. S&P 500 futures were [also slightly lower](, the 10-year Treasury yield was at 2.643 percent and gold was higher. Coming up… This preview section is in existential limbo as the government shutdown hits economic reports. Today’s factory orders and durable goods data are postponed, trade figures due this week seem set to meet the same fate, while the WASDE report is also likely to fall victim. As such, there are fairly slim pickings on the data front. At 10:00 a.m., the ISM non-manufacturing index is published, while Fed-watchers may want to keep an eye on a speech from Atlanta Fed President Raphael Bostic at 12:40 p.m. What we've been reading This is what's caught our eye over the weekend. - Odd Lots: What one Bitcoin trader learned from [riding the boom]( all the way up (and back down). - Powell [muddies Fed’s monetary message]( to calm markets for now. - Bridgewater’s Pure Alpha fund returned [14.6 percent]( last year. - It’s America First [in volatility land]( with anomalies galore. - Goldman picked [these U.S. stocks]( for investors craving safety. - China has a dangerous [dollar debt addiction](. - [Catastrophic galactic collision]( could send Solar System flying into space. And finally, here’s what Joe's interested in this morning In an interview with 60 Minutes, incoming House Democrat Alexandria Ocasio-Cortez [called for a top marginal tax rate of 60 percent to 70 percent](. This statement has drawn predictable scorn from mainstream Republicans, looking to use this moment as a chance to argue that Democrats are the party of tax hikes. But her comments have also won praise from some unexpected quarters, such as [Ann Coulter](. In the current political climate and makeup of DC, a major change to the tax code like this seems like a total non-starter. But what's interesting is seeing new political energy for tax hikes, as well as [aggressive spending]( that isn't "paid for" in the way that Washington usually uses that term. Again, nothing policy-wise is likely to change anytime soon... but it's clear that when it comes to fiscal policy, the terms of debate are starting to widen, and more and more politicians are likely to come out for both aggressively higher taxes on the rich, as well as spending plans that unapologetically widen the deficit. It will be fascinating to see how this translates to the Democratic primary and, eventually perhaps, to actual policy. Like Bloomberg's Five Things? [Subscribe for unlimited access]( to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close. Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find. [FOLLOW US [Facebook Share]]( [Twitter Share]( [SEND TO A FRIEND [Share with a friend]]( You received this message because you are subscribed to Bloomberg's Five Things newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022