Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm John Tucker and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today, and.
Speaker 3: Carol, We're gonna bring you the latest on Terrence and
Speaker 3: the markets in a moment. But first let's begin with history.
Speaker 3: At Augusta, Rory McElroy is one of the Masters to
Speaker 3: complete a career Grand Slam. Get the very latest with
Speaker 3: Bloomberg Sports reporter John's statshera this morning. And John wasn't
Speaker 3: easy for Rory.
Speaker 4: Yeah, certainly not John. It was one of the most
Speaker 4: memorable Sundays at the Masters. Perhaps no champion endured such
Speaker 4: a roller coaster of emotions on the final day. But
Speaker 4: on the first hole of the playoff with Justin Rose,
Speaker 4: Rory McElroy stood over a three foot birdie putt.
Speaker 5: How's his masterpiece?
Speaker 4: That's on CBS. That putt came shortly after McElroy missed
Speaker 4: a five foot are on the same eighteenth hole that
Speaker 4: would have won it in regulation. He had earlier blown
Speaker 4: what was briefly a five shot lead on the back nine.
Speaker 4: But the green jacket is his, and so is that
Speaker 4: career Grand Slam. Only the six who have won all
Speaker 4: four majors. Who was McElroy's first major victory in eleven years.
Speaker 4: Be back a little later in sports with reaction John Staneshaware,
Speaker 4: Bloomberg Radio.
Speaker 2: All right, sounds good, thanks John, Well. Turning out to
Speaker 2: the markets and tariffs. The lift in stocks comes after
Speaker 2: President Trump announced that popular consumer electronics, including phones and laptops,
Speaker 2: would be exempt from the planned one hundred and twenty
Speaker 2: five percent tariffs on Chinese goods and ten percent global levies. However,
Speaker 2: yesterday the President said it's a temporary measure and that
Speaker 2: a different tariff will be applied to the sector soon.
Speaker 2: He spoke to reporters on board Air Force One.
Speaker 6: The tariffs will be in place in the non distant future, because,
Speaker 6: as you.
Speaker 7: Know, like we did with steel, like we did with.
Speaker 6: Automobiles, like we did with aluminum, which are now fully on,
Speaker 6: we'll be doing that with semiconductors, with chips and numerous
Speaker 6: other things that take place in the very near future.
Speaker 3: We rate the good semiconductor.
Speaker 8: I'm going to be.
Speaker 6: Announcing it over the next week.
Speaker 2: Any exemptions are a temporary reprieve for companies like Apple.
Speaker 2: Antstock is at more than five percent this morning, and
Speaker 2: video broad common inteller at more than two percent. Stick
Speaker 2: with Bloomberg for the latest on tariffs. We have an
Speaker 2: exclusive interview at Treasury Secretary Scott Bessant that's at four
Speaker 2: forty five Wall Street time on Bloomberg Radio, Bloomberg Television,
Speaker 2: and the Bloomberg Podcast page on YouTube and Karen.
Speaker 3: The latest terror posts from the US come as new
Speaker 3: data shows China's exports search last month. Exports this is
Speaker 3: in dollar terms far exceeded all for a chasterize twelve
Speaker 3: point four percent, with a near nine percent rise in
Speaker 3: goods being sent to the US. So these figures suggest
Speaker 3: that a lot of companies were front loading orders in
Speaker 3: March to get ahead of the looming tariffs. The data
Speaker 3: also reveals that Chinese exports to Southeast Asia reached their
Speaker 3: second highest level on record.
Speaker 2: Well John JP Morgan Asset Management's Bob Michael believes treasuries
Speaker 2: may have hit their price low and yelled high. He
Speaker 2: did a robust forign demand and expected fed support. He
Speaker 2: spoke at Bloomberg yesterday on a special edition of Bloomberg Surveillance.
Speaker 7: I think we've seen three soft policy responses. The first
Speaker 7: came from the administration. You already went through. They gave
Speaker 7: us a ninety day reprieve. That's fine, and they took
Speaker 7: some of the tariffs off of electronics for the time being.
Speaker 7: That's okay. That's backing up. The second came from Congress
Speaker 7: where the House passed the Senate Budget Resolution, So Congress
Speaker 7: in a way gave us something. And then I'm going
Speaker 7: to say the third is Susan Collins finally sending us
Speaker 7: home over the weekend saying, yeah, the Fed's watching this.
Speaker 7: We got this.
Speaker 2: And JP Morgan now said Managements Bob Michael's comments come
Speaker 2: after treasury suffered their biggest slump since two thousand and
Speaker 2: one last week. Checking treasuries right now, they yield on
Speaker 2: the ten uere is at four point four six percent,
Speaker 2: the two year yield three point nine two percent, the
Speaker 2: thirty year yeld three point eight seven percent. And here
Speaker 2: the full conversation on the Bloomberg Surveillance podcast feed or
Speaker 2: watch it on the Bloomberg podcast page on YouTube.
Speaker 3: And we're also following the price at gold. Right now,
Speaker 3: the precious metal is trading at thirty two forty five dollars.
Speaker 3: An ounce to Wall Street firms also expected to go higher.
Speaker 3: Goldvin sacks at ubs that you shoued another round of
Speaker 3: bullish falls for gold was stronger than expended. Central bank
Speaker 3: demand of the medals role as a hedge against recession
Speaker 3: and geopolitical risk. Golblan now sees gold rallying to thirty
Speaker 3: seven hundred dollars announced by the end of this year,
Speaker 3: with prices set to hit four thousand dollars announced by
Speaker 3: mid twenty twenty six.
Speaker 2: Well John wall Street also awaits another round of bank earnings.
Speaker 2: This morning we hear from Goldman Sachs and we again more
Speaker 2: with the Bloomberg Intelligence. It's Alison Williams.
Speaker 9: We're expecting to see trading strength at Goldman Sachs, especially
Speaker 9: following the strong results that we got from JP Morgan
Speaker 9: and Morgan Stanley forty five to fifty percent gains at
Speaker 9: equity trading. We expect Goldman is going to share in
Speaker 9: these results. They're typically the trading leader in that business.
Speaker 9: Fees have come in a little bit weaker so far.
Speaker 9: We expect that Goldvinzachs may tell us a little bit
Speaker 9: about CEOs wanting to stay on the sidelines given all
Speaker 9: of this volatility. So volatility helping trading, it's hurting fees
Speaker 9: We're also going to be looking at what the bank
Speaker 9: is doing on its staffing levels. Bloomberg News has reported
Speaker 9: about potential cuts in the investment banking staffing, and we
Speaker 9: think that is going to be the truest look in
Speaker 9: terms of what the bank thinks is going to happen
Speaker 9: with fees in the months ahead.
Speaker 2: And as Allison Williams of Bloomberg Intelligence who says, look
Speaker 2: for Goldman earnings around seven thirty am Wall Street Time and.
Speaker 3: Karen, that brings us to our next story right here
Speaker 3: on Bloomberg Radio. And the Federal Aviation Administration says the
Speaker 3: helicopter Tour company who was sight seeing chopper broke apart
Speaker 3: in flight and crashed in New York, killing the pilot
Speaker 3: at a family of five visitors from Spain, is shutting
Speaker 3: down operations immediately. The FAA, in a statement posted on
Speaker 3: x also said would launch an immediate review of New
Speaker 3: York Helicopter Tour's operating license and safety record. Set up.
Speaker 3: An Arty leader, Schuck Schumer of New York, is calling
Speaker 3: for tighter restrictions on helicopter companies.
Speaker 10: I'm demanding the FAA increased what are called ramp inspections
Speaker 10: at other helicopter tour companies, a ramp inspection is a
Speaker 10: surprise inspection they show up unannounced.
Speaker 3: Schumer also said other regulations should include limits on aircraft age,
Speaker 3: greater pilot experience requirements, and stronger financial standards to prevent
Speaker 3: cost cutting on safety and.
Speaker 2: Finally, John Blue Origin is set to launch a high
Speaker 2: profile all women crew on its flagship space Tourism Rocket
Speaker 2: later today. It'll be bringing crew members including pop star
Speaker 2: Katie Perry and Jeff Bezos's fiance Lawrence Sanchez, to the
Speaker 2: edge of space and back, and Perry preview the flight
Speaker 2: on a post to Instagram.
Speaker 11: I do believe this. I'm not going to say I
Speaker 11: can't believe I'm here. I do believe this because I
Speaker 11: think that believing your dreams and saying that is actually
Speaker 11: how you make your dreams come true.
Speaker 2: And the flight is set to launch a nine thirty
Speaker 2: am New York time from a West Texas and a
Speaker 2: roughly eleven minute trip for a quick experience of witlessness.
Speaker 2: The other members on board our CBS's Gail King, producer,
Speaker 2: carry Ann Flynn, former NASIS scientist Aisha bo and Amanda Wynn,
Speaker 2: a bioastronautics research scientist and advocate for survivors of sexual violence.
Speaker 2: Time now for a look at some of the other
Speaker 2: stories making news in New York and around the world,
Speaker 2: and for that we're joined by Bloomberg's Michael Barr Michael,
Speaker 2: good Morning.
Speaker 8: Good Morning Careen. A man is facing charges after authority
Speaker 8: say he broke into the Pennsylvania governor's mansion over night Sunday,
Speaker 8: set a fire that left significant damage and forced Governor
Speaker 8: johsh Shapiro and his family and guests to evacuate the house.
Speaker 8: And happened during the Jewish holiday of Passover. No injuries
Speaker 8: were reported, but a significant portion of the mansion was damaged.
Speaker 8: Later Sunday, Governor Shapiro spoke to reporters.
Speaker 12: I'm going to do my best to be your governor
Speaker 12: and right now to be a good husband and father
Speaker 12: to my family. Were obviously traumatized by what occurred here
Speaker 12: last night.
Speaker 8: The authorities have identified the suspect as thirty eight year
Speaker 8: old Cody Bohmer of Harrisburg, and say he was arrested
Speaker 8: later in the day. The NTSB is investigating another aircraft fatality,
Speaker 8: this one in a rural part of upstate New York.
Speaker 8: In Copeke, Columbia County. Over the weekend, a small plane
Speaker 8: departed from Westchester County Airport, but it crashed in a
Speaker 8: wooded area. NTSB investigator Albert Nixon shared the last communication
Speaker 8: the airport had with the pilot before the crash.
Speaker 13: The pilot reported and missed approach. He requested vectors for
Speaker 13: another approach, and as he is being vectored, the radar
Speaker 13: indicated a low altitude alert.
Speaker 8: It is said one of the victims included Corina Groff,
Speaker 8: who recently was named the NCAA Woman of the Year.
Speaker 8: Russian missile attacks struck the heart of the Ukrainian city
Speaker 8: of Sumi as people gathered to celebrate Palm Sunday. Officials
Speaker 8: say the strike killed at least thirty four people. Ukrainian
Speaker 8: President Vladimir Zelenski says he wants President Trump to come
Speaker 8: see how the war has impacted his country before making
Speaker 8: any major decisions. Amid talk of a potential deal to
Speaker 8: end Russia's ongoing war. Come look, and then let's move
Speaker 8: with the plan how to finish the war.
Speaker 13: You will understand with whom you have a deal.
Speaker 8: Zelenski spoke to CBS's sixty Minutes Global news twenty four
Speaker 8: hours a day and whenever you want it with the
Speaker 8: Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Karen.
Speaker 2: All right, Michael Barr, thank you time now for the
Speaker 2: Bloomberg Sports Update. Here's John stash Hour again. John Giburning,
Speaker 2: Good morning, Karen.
Speaker 4: What a Sunday it was that the Masters. Rory mcclroy
Speaker 4: was ahead, and then behind, and then back ahead, even
Speaker 4: at one point by five five shots on the back
Speaker 4: ninety blew that league got it back with a birdie
Speaker 4: and near eagle on fifteen. He missed the putt on
Speaker 4: the last hole that would have won on the Green
Speaker 4: Jackets after winning eleven years to win a major had
Speaker 4: to wait a little longer, but he came back on
Speaker 4: that same eighteen pole in the playoff with Justin Roseen.
Speaker 4: This time the putt went in and McElroy's long major
Speaker 4: draft was over with his first Master's fifty.
Speaker 5: You know, there were points in my career where I
Speaker 5: didn't know if I would have this nice garment over
Speaker 5: my shoulders. But I didn't make it easy today. I
Speaker 5: certainly didn't make it easy. I was nervous. It was
Speaker 5: one of the toughest days I've ever had on the
Speaker 5: golf course.
Speaker 4: Victory completes the career Grand Slam six to have one
Speaker 4: all four. He joins Gene saraz In, Van Hogan, Jack Nicholas,
Speaker 4: Gary Player and Tiger Wood. It's the second Master's playoff
Speaker 4: defeat for Rose, who made a furious charge to get
Speaker 4: in to Fenny Champ. Scottie Scheffer finished fourth. They at
Speaker 4: the Stadium, Yankees let the Giants three one sixth any
Speaker 4: when Jung Whole hit a three line homer. He had
Speaker 4: hit a solo shot earlier. Both came off Carlos Goudan.
Speaker 4: Giants won five to four. Yankees have lost four to
Speaker 4: the last six. Mets beat the A's and Sacramento eight
Speaker 4: to nothing. They scored all eight over the last four innings.
Speaker 4: Gode I Sanga hurld seven score has allowed just four hits.
Speaker 4: The Nationals lost in Miami eleven to four. Red Sox
Speaker 4: beat the White Sox three to one. Islanders top the
Speaker 4: Devils won nothing. The next playoff opener will be Saturday
Speaker 4: six o'clock at the Garden against Detroit. The Nicks finished
Speaker 4: fifty one and thirty one. They sat out their starters
Speaker 4: still beat the Nets one thirteen to one oh five.
Speaker 4: The Clippers won at Golden State in overtime. That means
Speaker 4: the Warriors have to play Memphis and the play in
Speaker 4: game tomorrow. John Stashiewart Bloomberg Sports kenon.
Speaker 1: Johnny Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business opp This is Bloomberg Daybreak.
Speaker 3: Hey, good morning, I'm John Tucker. President Trump's applause on
Speaker 3: terras for certain electronics is only temporary, insisting in his words,
Speaker 3: that nobody is getting off the hook. What this comes
Speaker 3: after what sounded like an exemption to the extent we can.
Speaker 3: We're it's going to get some clarity this morning. We're
Speaker 3: joined by Bloomberg News Senior editor Bill Ferries. Trade Policy
Speaker 3: Bill sounds a little ad hot. What do we know
Speaker 3: for sure?
Speaker 14: Well, yeah, I think if you look at what we've
Speaker 14: been all been through over the last week, the administration
Speaker 14: is really pushing back on this idea that they're stepping
Speaker 14: away from this strategy of tariffs, despite having put a
Speaker 14: pause on those ninety day pause on those reciprocal tariffs
Speaker 14: that were briefly in place last week and then over
Speaker 14: the weekend basically saying that they are holding off on
Speaker 14: one hundred and forty five percent tariffs on a lot
Speaker 14: of consumer electronics and other things like that coming in
Speaker 14: from China. President Trump's saying over the weekend that nobody's
Speaker 14: off the hook, that he is simply coming up with
Speaker 14: a different bucket of teriffs that he plants to apply
Speaker 14: to things with semiconductors and chips in them. So there
Speaker 14: is a reprieve for companies like let's say, Apple and
Speaker 14: Samsung and Nvidia that we're bringing in devices with chips,
Speaker 14: but it's not clear how long of a reprieve they
Speaker 14: will ultimately get.
Speaker 3: Here is this reprieve, if you want to call it that,
Speaker 3: in the indication that the products may soon be subject
Speaker 3: to a completely different tarif.
Speaker 14: It is, I mean, the way the administration is talking
Speaker 14: is they're talking about putting this in a different bucket,
Speaker 14: just like you know they've essentially done with steel and
Speaker 14: aluminum tariffs, which steel and aluminum imports which face a
Speaker 14: set tariff coming in automobiles. They've talked about doing something
Speaker 14: like this with a lumber that comes in largely from
Speaker 14: Canada having those set up to a separate a separate
Speaker 14: number basically from the other goods that come in from
Speaker 14: the country. Now, we don't know what that number is
Speaker 14: going to be. Ultimately it would presumably be less than
Speaker 14: one hundred and four five percent. Howard Lutnick over the weekend,
Speaker 14: saying that the administration plans to make an announcement in
Speaker 14: the Federal Register this week essentially, which would essentially lay
Speaker 14: out some of the details that are really lacking right
Speaker 14: now and presumably give a couple months for comments, and
Speaker 14: of course perhaps lobbying from the different sectors and companies
Speaker 14: would be affected by it.
Speaker 3: So the range right now, as I understand it is
Speaker 3: the bottom would be ten percent, the top would be
Speaker 3: one hundred and twenty five percent. So what we're looking
Speaker 3: at is somewhere in between that going forward for.
Speaker 14: This somewhere in between that. But even when you know
Speaker 14: around it, it's a pretty vast range, and it makes
Speaker 14: it very hard for you know, companies to make any
Speaker 14: long term plans. If you're thinking about how many, you know,
Speaker 14: how many cargo containers you're going to need six months
Speaker 14: down the road, that's a that's a very difficult thing.
Speaker 14: To imagine at this point. But even that ten percent tariff,
Speaker 14: the flat rate that President Trump has put on, he
Speaker 14: said that in some cases he may be willing to
Speaker 14: negotiate over that as well, so it could go lower,
Speaker 14: either for some countries or some specific companies or sectors.
Speaker 14: So you know, the clarity has really not increased, although
Speaker 14: I think what we've seen for some companies. You think
Speaker 14: about a company like Apple or Nvidia, for instance, they're
Speaker 14: certainly breathing a little easier than they were perhaps, you know,
Speaker 14: ninety six hours ago.
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