1 00:00:01,880 --> 00:00:05,080 Speaker 1: Live from the Bloomberg Interactive Burger Studios is It's Bloomberg 2 00:00:05,160 --> 00:00:09,320 Speaker 1: day Break for Monday, February fourteenth two. Coming up this hour, 3 00:00:09,600 --> 00:00:13,920 Speaker 1: stock slide as geopolitical risks over Ukraine ripple through global markets. 4 00:00:14,040 --> 00:00:16,120 Speaker 1: We take you to Europe and Asia for the latest 5 00:00:16,160 --> 00:00:18,640 Speaker 1: market moves. The Fed takes a measured town with one 6 00:00:18,680 --> 00:00:21,200 Speaker 1: official saying great hikes should be data dependent. And the 7 00:00:21,280 --> 00:00:24,040 Speaker 1: latest reasons why white faller workers do not want to 8 00:00:24,040 --> 00:00:27,160 Speaker 1: return to the office full time. New York subway ridership 9 00:00:27,200 --> 00:00:29,960 Speaker 1: is rebounding after a drop from Omicron. Plus, a Bible 10 00:00:30,040 --> 00:00:33,519 Speaker 1: classing between the US and Canada has reopened. I'm Michael 11 00:00:33,520 --> 00:00:37,120 Speaker 1: barr more a. I'm do Stataron's fourth Super Bowl fifty 12 00:00:37,159 --> 00:00:39,200 Speaker 1: six in l A. The Rams with a fourth quarter 13 00:00:39,320 --> 00:00:45,440 Speaker 1: touchdown drive they beat the Benguals. That's all straight ahead 14 00:00:45,520 --> 00:00:49,240 Speaker 1: on Bloomberg day Break on Bloomberg Element Trio, New York, 15 00:00:49,400 --> 00:00:54,120 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, 16 00:00:54,280 --> 00:00:58,800 Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen 17 00:00:59,160 --> 00:01:01,840 Speaker 1: and around the world Old on Bloomberg Radio dot Com 18 00:01:02,000 --> 00:01:09,240 Speaker 1: and via the Bloomberg Business Set. Good Morning, I'm Nathan 19 00:01:09,280 --> 00:01:12,600 Speaker 1: Haggart and I'm Karen. Moscow and global stocks are tumbling 20 00:01:12,640 --> 00:01:14,440 Speaker 1: this morning. We're coming up to five oh one on 21 00:01:14,440 --> 00:01:16,600 Speaker 1: Wall Street, and we checked the markets every fifteen minutes 22 00:01:16,640 --> 00:01:19,760 Speaker 1: throughout the trading day. On Bloomberg, S and P Future 23 00:01:19,800 --> 00:01:23,240 Speaker 1: is down forty seven, boints down, futures down three dwight 24 00:01:23,560 --> 00:01:26,520 Speaker 1: nowsday futures down one hundred seventy seven. The decks in 25 00:01:26,600 --> 00:01:30,400 Speaker 1: Germany is down three point six per cent. The tenure 26 00:01:30,440 --> 00:01:33,520 Speaker 1: treasury of nine thirty seconds held one point nine zero percent. 27 00:01:33,560 --> 00:01:36,480 Speaker 1: They yield on the two year one point five zero percent, 28 00:01:36,920 --> 00:01:39,560 Speaker 1: and the euro one point one three one zero against 29 00:01:39,560 --> 00:01:42,400 Speaker 1: the dollar. Nathan, Well, Karen. These dramatic moves and markets 30 00:01:42,440 --> 00:01:46,360 Speaker 1: come as tensions build between Russia and Ukraine. Moscow's military 31 00:01:46,400 --> 00:01:48,480 Speaker 1: build up near the border means this could be a 32 00:01:48,560 --> 00:01:51,760 Speaker 1: decisive week in the conflict. Amy Morris has the latest 33 00:01:51,800 --> 00:01:55,880 Speaker 1: from our Bloomberg newsroom in Washington. Vladimir Putin says the 34 00:01:55,960 --> 00:01:58,480 Speaker 1: US has failed to meet his demands. The U s 35 00:01:58,520 --> 00:02:02,080 Speaker 1: warrens and invasion is m it. National Security advisor Jake 36 00:02:02,080 --> 00:02:05,240 Speaker 1: Sullivan told CBS is faced the nation. There's a possibility 37 00:02:05,280 --> 00:02:08,320 Speaker 1: there will be a major military action very soon. They 38 00:02:08,320 --> 00:02:12,120 Speaker 1: could launch a military action essentially at any time. They 39 00:02:12,120 --> 00:02:15,560 Speaker 1: could do so this coming week, but of course it 40 00:02:15,680 --> 00:02:18,880 Speaker 1: still awaits the go order. Sullivan says Putin could move 41 00:02:18,960 --> 00:02:23,520 Speaker 1: before the Winter Olympics and February. President Biden spoke with 42 00:02:23,520 --> 00:02:26,000 Speaker 1: Putin for a little more than an hour on Saturday, 43 00:02:26,000 --> 00:02:29,840 Speaker 1: with no real progress. Russia repeatedly denies any intention of 44 00:02:29,880 --> 00:02:33,640 Speaker 1: invading Ukraine. In Washington, I'm Amy Moore as Bloomberg Daybreak. 45 00:02:33,720 --> 00:02:36,440 Speaker 1: All right, Amy, thank your reaction pouring into the potential 46 00:02:36,480 --> 00:02:39,680 Speaker 1: conflict over Ukraine. Ariel Cohen, a senior fellow at the 47 00:02:39,680 --> 00:02:43,640 Speaker 1: Atlantic Council, says an invasion looks imminent. We do not 48 00:02:43,960 --> 00:02:45,880 Speaker 1: give put In what he wants. I think he will 49 00:02:45,919 --> 00:02:51,560 Speaker 1: invade Ukraine. He hasn't excused his demands are impossible to fulfill, 50 00:02:51,960 --> 00:02:56,280 Speaker 1: such as rolling back native to the lines of and 51 00:02:56,360 --> 00:03:01,440 Speaker 1: I think he deliberately demanded such hord demands in order 52 00:03:01,480 --> 00:03:05,760 Speaker 1: to have a pretext to CASA's belly to invade you crazy. 53 00:03:05,919 --> 00:03:08,760 Speaker 1: Harry L. Cohen with the Atlantic Council says Russia has 54 00:03:08,760 --> 00:03:11,840 Speaker 1: denied plans to attack. The White House is threatening sweeping 55 00:03:11,960 --> 00:03:15,360 Speaker 1: sanctions in response to any incursion well caring these tensions 56 00:03:15,360 --> 00:03:18,800 Speaker 1: over Ukraine have stock selling off this morning. Overnight stocks 57 00:03:18,800 --> 00:03:21,440 Speaker 1: in Asia slid for a second session. Let's get the 58 00:03:21,440 --> 00:03:24,880 Speaker 1: recap from Bloomberg's Juliette Sally in Singapore. Good morning, Juliet, 59 00:03:25,000 --> 00:03:27,280 Speaker 1: Good morning, Nathan and Karen. The ms CI Asia Pacific 60 00:03:27,280 --> 00:03:30,359 Speaker 1: Index fell over one percent. Japanese stocks among the worst 61 00:03:30,400 --> 00:03:33,320 Speaker 1: performers as they played catch up following a three day weekend. 62 00:03:33,560 --> 00:03:35,240 Speaker 1: Then at K to to five was down by two 63 00:03:35,240 --> 00:03:37,480 Speaker 1: point three percent in Tokyo, John A c s I 64 00:03:37,560 --> 00:03:39,760 Speaker 1: three hundred, and the equity market in Hong Kong, which 65 00:03:39,800 --> 00:03:42,920 Speaker 1: is also facing a COVID outbreak, traded in the red 66 00:03:43,240 --> 00:03:45,880 Speaker 1: energy stocks so but the trend across the region climbing 67 00:03:45,920 --> 00:03:48,600 Speaker 1: as oil added to an eight week winning run, and 68 00:03:48,680 --> 00:03:50,960 Speaker 1: the Bank of Japan intervened in the bond market to 69 00:03:51,000 --> 00:03:53,120 Speaker 1: put a cap on ten year yields, which had risen 70 00:03:53,160 --> 00:03:55,640 Speaker 1: to a six year high, by offering to buy an 71 00:03:55,680 --> 00:03:59,880 Speaker 1: unlimited amount of five to ten years. In Singapore, Juliet's 72 00:04:00,080 --> 00:04:03,160 Speaker 1: La Bloomberg Daybreak, Julia, thank you. Starks in Europe this 73 00:04:03,200 --> 00:04:05,880 Speaker 1: morning or under even more pressure. Let's go live to 74 00:04:05,960 --> 00:04:08,000 Speaker 1: London and get the latest for the Bloomberg's You and 75 00:04:08,080 --> 00:04:10,920 Speaker 1: Part's good morning You and good morning Condon, Nathan. Europe 76 00:04:10,920 --> 00:04:13,840 Speaker 1: stocks under plunging to a three week low today, currently 77 00:04:13,840 --> 00:04:17,000 Speaker 1: trading down two point eight percent. Every single sector in 78 00:04:17,040 --> 00:04:19,240 Speaker 1: the red this morning, with travel on, leisure stocks and 79 00:04:19,360 --> 00:04:23,120 Speaker 1: banks among the worst performers. Company's exposure to Russia and 80 00:04:23,240 --> 00:04:27,760 Speaker 1: Eastern Europe under pressure and Clarion slumping today. That's after 81 00:04:27,800 --> 00:04:30,440 Speaker 1: these Swiss chemicals maker said it's launching a probe into 82 00:04:30,440 --> 00:04:35,240 Speaker 1: possible accounting irregularities. It's also delayed publishing its follier earnings. 83 00:04:35,400 --> 00:04:38,800 Speaker 1: Clariance shares down eighteen percent. Live in London, I'm you 84 00:04:38,880 --> 00:04:40,880 Speaker 1: and pot Spinboo daybreak. All right, you and thanks for 85 00:04:40,920 --> 00:04:44,160 Speaker 1: also seeing. Geopolitical tensions have an impact on energy markets. 86 00:04:44,160 --> 00:04:46,680 Speaker 1: At one point this morning, crewede rallied more than one 87 00:04:46,760 --> 00:04:49,680 Speaker 1: percent to hit its highest level in eight years. Checking 88 00:04:49,720 --> 00:04:53,160 Speaker 1: prices now, West Texas Centermedia Crude is little changed, up 89 00:04:53,160 --> 00:04:55,760 Speaker 1: a penny at ninety three seven cents of barrel. Brent 90 00:04:56,240 --> 00:05:00,280 Speaker 1: is little changed as well, at ninety four dollars forty cents. Nathan. 91 00:05:00,400 --> 00:05:03,280 Speaker 1: Ukraine tensions are dealing another blow to markets that are 92 00:05:03,320 --> 00:05:07,000 Speaker 1: already skittish about inflation. And interest rates forecast call for 93 00:05:07,040 --> 00:05:09,520 Speaker 1: as many as seven rate highs from the Fed this year. 94 00:05:09,800 --> 00:05:12,839 Speaker 1: San Francisco FED President Mary Daily says the Central Bank 95 00:05:12,920 --> 00:05:15,960 Speaker 1: needs to be measured in its approach. What I would 96 00:05:15,960 --> 00:05:20,520 Speaker 1: favor is moving in March and then watching, measuring, being 97 00:05:20,640 --> 00:05:23,160 Speaker 1: very careful about what we see ahead of us, and 98 00:05:23,200 --> 00:05:26,160 Speaker 1: then taking the next interest rate increase when it seems 99 00:05:26,440 --> 00:05:28,479 Speaker 1: the best place to do that, and that could be 100 00:05:28,720 --> 00:05:30,920 Speaker 1: in the next meeting or could be a meeting away. 101 00:05:31,320 --> 00:05:33,919 Speaker 1: And San Francisco FED President Mary Daily met the comments 102 00:05:33,920 --> 00:05:36,200 Speaker 1: on Face the Nation from CBS. You can hear the 103 00:05:36,240 --> 00:05:39,800 Speaker 1: program every Sunday right here on Bloomberg Radio. Meantime, look 104 00:05:39,880 --> 00:05:42,200 Speaker 1: for more inflation data this week, Karen, and that could 105 00:05:42,240 --> 00:05:45,520 Speaker 1: mean more unsettling numbers for the US economy. Bloomberg's in 106 00:05:45,600 --> 00:05:49,599 Speaker 1: he del Judas reports economist say February producer price and 107 00:05:49,680 --> 00:05:53,760 Speaker 1: dex will remain elevated after January's increase at nine point. 108 00:05:54,960 --> 00:06:00,520 Speaker 1: The second hyacin the supply chain is slowly untangling post pandemic. 109 00:06:01,040 --> 00:06:05,400 Speaker 1: Higher labor course reflection of workers shortages are also at play. 110 00:06:05,839 --> 00:06:10,080 Speaker 1: Data and January import prices are also forecast to remain elevated, 111 00:06:10,400 --> 00:06:15,440 Speaker 1: keeping pressure on consumer prices, the heat, Bloomberg Daybreak, and 112 00:06:15,600 --> 00:06:18,520 Speaker 1: he thank you well. As COVID cases ease across the country. 113 00:06:18,600 --> 00:06:20,960 Speaker 1: Back to the office plans are coming back, As it 114 00:06:21,000 --> 00:06:23,640 Speaker 1: turns out, a growing number of white collar workers do 115 00:06:23,720 --> 00:06:26,040 Speaker 1: not want to return to the office full time. To 116 00:06:26,160 --> 00:06:28,480 Speaker 1: get the details live from Bloomberg's Real Need a Young 117 00:06:28,520 --> 00:06:31,200 Speaker 1: Good Morning Radio, Good Morning Karen. Just three percent of 118 00:06:31,240 --> 00:06:33,920 Speaker 1: white collar workers want to return to the office five 119 00:06:34,000 --> 00:06:36,800 Speaker 1: days a week. That's according to a poll by management 120 00:06:36,839 --> 00:06:42,120 Speaker 1: consultancy Advanced Workplace Associates, which warns employees will quit if 121 00:06:42,160 --> 00:06:45,800 Speaker 1: companies force them back full time. Six percent of the 122 00:06:45,839 --> 00:06:48,960 Speaker 1: ten thousand employees polled globally want to work from home 123 00:06:49,040 --> 00:06:51,680 Speaker 1: at least two days a week. People from all age 124 00:06:51,680 --> 00:06:53,600 Speaker 1: groups at a broad range of industry is felt the 125 00:06:53,640 --> 00:06:57,880 Speaker 1: same way. An Advanced Workplace Associates managing director Andrew Mawson 126 00:06:57,960 --> 00:07:01,080 Speaker 1: says bosses who are not sent citive to their employees 127 00:07:01,200 --> 00:07:05,400 Speaker 1: needs will suffer. Accordingly, Live in New York, I'm gonned 128 00:07:05,440 --> 00:07:08,040 Speaker 1: a young Bloomberg Daybreak. Okay, we need a thanks right now. 129 00:07:08,160 --> 00:07:10,960 Speaker 1: SMP futures are down forty three points down. Futures down 130 00:07:11,000 --> 00:07:13,960 Speaker 1: three hundred six. Nasdaq futures lower by a hundred sixty 131 00:07:13,960 --> 00:07:16,920 Speaker 1: seven points. Straight ahead, your latest local headlines, and a 132 00:07:17,000 --> 00:07:20,120 Speaker 1: check of sports, including the Super Bowl. This is Bloomberg 133 00:07:23,840 --> 00:07:26,440 Speaker 1: now five oh seven on Wall Street, eighteen degrees in 134 00:07:26,480 --> 00:07:28,520 Speaker 1: Central Park, and we got an accent on the westbound 135 00:07:28,640 --> 00:07:30,840 Speaker 1: l I A heading toward clear View. Details coming up 136 00:07:30,840 --> 00:07:33,080 Speaker 1: in traffic First, Michael Barr is here with what else 137 00:07:33,160 --> 00:07:34,800 Speaker 1: is going on in New York and around the world. 138 00:07:34,800 --> 00:07:37,320 Speaker 1: Good morning, my call, Good morning, Nathan. Transit officials in 139 00:07:37,360 --> 00:07:40,080 Speaker 1: New York are hoping a recent uptick and subway ridership 140 00:07:40,160 --> 00:07:42,760 Speaker 1: is a sign that the city is bouncing back from 141 00:07:42,760 --> 00:07:47,360 Speaker 1: the omicron surge. The mt A reported subway ridership topped 142 00:07:47,360 --> 00:07:51,400 Speaker 1: three million in three days for the last time last week, 143 00:07:51,880 --> 00:07:54,360 Speaker 1: and that hadn't happened since the o Macron wave hit 144 00:07:54,440 --> 00:07:58,600 Speaker 1: New York in mid December. Weekday ridership regularly topped five 145 00:07:58,600 --> 00:08:02,600 Speaker 1: point five million before a nineteam. A vital commerce crossing 146 00:08:02,640 --> 00:08:07,120 Speaker 1: between Detroit to Windsor, Ontario has reopened. A truck blockade 147 00:08:07,240 --> 00:08:10,119 Speaker 1: had closed the Ambassador Bridge were about a week wins 148 00:08:10,200 --> 00:08:13,440 Speaker 1: Or police arrested about a dozen people wins Their police chief, 149 00:08:13,520 --> 00:08:16,760 Speaker 1: Kamala Mazzoo, Any unlawful activity in the area will not 150 00:08:16,840 --> 00:08:19,800 Speaker 1: be tolerated, and officers will take the necessary action to 151 00:08:19,920 --> 00:08:23,000 Speaker 1: keep the peace and traffic flowing. There will be criminal 152 00:08:23,040 --> 00:08:26,280 Speaker 1: consequences for those who interfere with or entrupt traffic flow. 153 00:08:26,800 --> 00:08:30,680 Speaker 1: Chief Maszoo also says they seized five vehicles and towed 154 00:08:30,720 --> 00:08:35,880 Speaker 1: seven more. Protesters were demonstrating over vaccine rules. Albuquerque police 155 00:08:35,920 --> 00:08:38,800 Speaker 1: say they've arrested a man suspected of stabbing eleven people 156 00:08:38,840 --> 00:08:42,080 Speaker 1: in the city. The apparent random incidents were reported at 157 00:08:42,120 --> 00:08:45,480 Speaker 1: multiple locations. Police say the suspect wrote a bike and 158 00:08:45,559 --> 00:08:49,040 Speaker 1: was armed with a large knife. Senator Lindsey Graham says 159 00:08:49,080 --> 00:08:51,800 Speaker 1: that he is moving forward from the January six Capital 160 00:08:51,920 --> 00:08:56,400 Speaker 1: riot and the elections. Graham is instead focusing on the 161 00:08:56,440 --> 00:09:00,880 Speaker 1: twenty two mid terms. I am not contesting the twenty election. 162 00:09:01,200 --> 00:09:04,000 Speaker 1: I'd like to reform the system. The problems we found 163 00:09:04,000 --> 00:09:07,880 Speaker 1: in need to be addressed, but the election is over 164 00:09:07,960 --> 00:09:11,280 Speaker 1: for me. Graham spoke on a d c S this week, 165 00:09:11,320 --> 00:09:14,760 Speaker 1: which can be heard Sundays on Bloomberg. Many on social 166 00:09:14,760 --> 00:09:18,199 Speaker 1: media say the Super Bowl halftime show was a huge success. 167 00:09:18,520 --> 00:09:21,200 Speaker 1: The show on NBC had Dr Dre and Snoop dogg 168 00:09:21,280 --> 00:09:25,120 Speaker 1: kick and get off Mary J. Blige wearing tight high 169 00:09:25,280 --> 00:09:29,720 Speaker 1: mirrored boots and now a surprise performance from fifty cents 170 00:09:29,760 --> 00:09:38,120 Speaker 1: and Movi Super High Proud shared on eminem as He 171 00:09:38,160 --> 00:09:41,120 Speaker 1: took a knee global twenty four hours a day on 172 00:09:41,280 --> 00:09:44,600 Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty 173 00:09:44,640 --> 00:09:47,360 Speaker 1: seven hundred journalists and analysts more than a hundred twenty countries. 174 00:09:47,520 --> 00:09:50,320 Speaker 1: Him Michael Barb this is Bloomberg, Nathan. Okay, Michael, Thanks 175 00:09:54,840 --> 00:09:57,240 Speaker 1: five oh nine on Wall Street Time from Bloomberg Sports Update. 176 00:09:57,240 --> 00:10:00,760 Speaker 1: As for the game, Who's John Stashery Nathan? It was 177 00:10:00,800 --> 00:10:03,520 Speaker 1: a game where the Rams had a lot to overcome 178 00:10:03,600 --> 00:10:06,520 Speaker 1: and early injury to white out. Odell Beckham would score 179 00:10:06,559 --> 00:10:09,280 Speaker 1: the games first touchdown, a dropped hold on extra point 180 00:10:09,280 --> 00:10:11,400 Speaker 1: that would proved to be a factor, and a blown 181 00:10:11,480 --> 00:10:14,480 Speaker 1: call with the officials not seen an offensive face mask 182 00:10:14,559 --> 00:10:17,520 Speaker 1: on a Cincinnati seventy five yard touchdown pass that gave 183 00:10:17,559 --> 00:10:19,080 Speaker 1: them the league early in the third quarter, But after 184 00:10:19,120 --> 00:10:22,000 Speaker 1: both teams were not doing much offensively in the fourth, 185 00:10:22,400 --> 00:10:24,960 Speaker 1: the Rams went on a long drive seventy nine yards. 186 00:10:25,000 --> 00:10:28,680 Speaker 1: This is the fifteenth play seven step back froze the 187 00:10:28,720 --> 00:10:35,640 Speaker 1: faith fact shoulder Cooper clubscot It Cooper Cup brigid in touchdown, touchdown, 188 00:10:36,559 --> 00:10:40,800 Speaker 1: touchdown Radio that was tough. Second touchdown the Rams sack 189 00:10:40,920 --> 00:10:43,840 Speaker 1: Joe Burrow seven times, nearly an eighth on a fourth 190 00:10:43,880 --> 00:10:47,200 Speaker 1: and one incompletion that gave the Rams Superbowl fifty six, 191 00:10:47,600 --> 00:10:50,079 Speaker 1: twenty three to twenty Cup the m v P just 192 00:10:50,160 --> 00:10:52,400 Speaker 1: a second championship and franchise history. The other came in 193 00:10:52,400 --> 00:10:55,920 Speaker 1: they played in St. Louis, Tampa Bay last year. LA 194 00:10:56,040 --> 00:10:57,920 Speaker 1: this season only two teams to win a Super Bowl 195 00:10:58,000 --> 00:11:01,320 Speaker 1: in their home stadium. The Olds lost to Pittsburgh three 196 00:11:01,320 --> 00:11:04,400 Speaker 1: to St. John's lost in Yukon sixty three sixty the 197 00:11:04,440 --> 00:11:06,880 Speaker 1: Red Storms just one and four well point at the Garden, 198 00:11:07,200 --> 00:11:09,959 Speaker 1: twenty one of the season for Iona. At the Olympics, 199 00:11:10,400 --> 00:11:13,080 Speaker 1: US won gold and silver in the new event of 200 00:11:13,120 --> 00:11:16,720 Speaker 1: women's singles Bob Sled known as Moto Bob the gold, 201 00:11:16,760 --> 00:11:19,559 Speaker 1: the Callie Humphreys, who used to compete for Canada, the 202 00:11:19,760 --> 00:11:23,080 Speaker 1: silver to thirty seven year old mother Leda Myers Taylor, 203 00:11:23,120 --> 00:11:26,400 Speaker 1: the fifteen year old the Russian figure skating pinon Camilla 204 00:11:26,480 --> 00:11:29,600 Speaker 1: Valieva will be allowed to compete as quite a recent 205 00:11:29,679 --> 00:11:33,560 Speaker 1: failed drug test. John Stash atward Bloomberg sportsneaker Okay, John, 206 00:11:33,600 --> 00:11:36,120 Speaker 1: thanks right now. SMP futures are down forty one point. 207 00:11:36,200 --> 00:11:40,120 Speaker 1: Staff futures down, Trinity six, Nastack futures leading declines this morning, 208 00:11:40,120 --> 00:11:43,000 Speaker 1: down a hundred fifty two points or one point one percent. 209 00:11:43,400 --> 00:11:46,080 Speaker 1: Major selling in Europe this morning, with the Dacks in 210 00:11:46,080 --> 00:11:48,760 Speaker 1: Germany and the Cat in Paris both down three point 211 00:11:48,800 --> 00:11:51,640 Speaker 1: two percent. The tenure treasury up eight thirty seconds, the 212 00:11:51,679 --> 00:11:53,840 Speaker 1: yield one point nine zero percent yield on the two 213 00:11:53,920 --> 00:11:58,000 Speaker 1: year one point five one. Geo politics Front and Center 214 00:11:58,040 --> 00:12:02,280 Speaker 1: for markets will get analysis next from Dennis Gartman, former 215 00:12:02,280 --> 00:12:08,880 Speaker 1: publisher of the Gartman Letter Number eleven three oh weather 216 00:12:08,960 --> 00:12:11,840 Speaker 1: cold today, upper twenties for highs well me in the 217 00:12:11,880 --> 00:12:16,360 Speaker 1: mid thirties tomorrow and then hit fifty by Wednesday. Bundle 218 00:12:16,440 --> 00:12:24,040 Speaker 1: up for now eighteen degrees in Central Park Markets, headlines 219 00:12:24,080 --> 00:12:27,079 Speaker 1: and breaking news twenty four hours a day at Bloomberg 220 00:12:27,120 --> 00:12:30,520 Speaker 1: dot Com, a Bloomberg Business at and at Bloomberg Quick Tape. 221 00:12:31,040 --> 00:12:40,240 Speaker 1: He's a Bloomberg Business lash and I'm Karen. Moscow's docks 222 00:12:40,280 --> 00:12:43,360 Speaker 1: are falling as geo political risks over Ukraine ripple through 223 00:12:43,360 --> 00:12:46,040 Speaker 1: global markets, and we check the markets every fifteen minutes. 224 00:12:46,080 --> 00:12:49,120 Speaker 1: Throughout the trading day on Bloomberg, Guess and P Future 225 00:12:49,200 --> 00:12:51,559 Speaker 1: is down at thirty nine points down, futures down two 226 00:12:51,760 --> 00:12:56,200 Speaker 1: d seven, nasdack futures down one fifty three. The decks 227 00:12:56,200 --> 00:12:59,480 Speaker 1: in Germany's down three point one per cent ten. Your 228 00:12:59,520 --> 00:13:02,560 Speaker 1: treasury up eight thirty seconds, held one point nine percent. 229 00:13:02,679 --> 00:13:04,880 Speaker 1: They yield on the two year one point five one 230 00:13:05,200 --> 00:13:08,079 Speaker 1: cent nimex Screwed oil is up to tens per cent 231 00:13:08,160 --> 00:13:10,320 Speaker 1: or twenty two cents and ninety three dollars thirty two 232 00:13:10,360 --> 00:13:13,040 Speaker 1: cents of barrel comes. Gold is up nine tenths per 233 00:13:13,080 --> 00:13:16,000 Speaker 1: cent or sixteen dollars at eighteen fifty eight. Ten announced 234 00:13:16,440 --> 00:13:19,320 Speaker 1: the euro one point one three oh seven against the dollar, 235 00:13:19,400 --> 00:13:22,120 Speaker 1: British fand one point three five one three. The n 236 00:13:22,280 --> 00:13:25,080 Speaker 1: is at one fifteen point oh eight. Bitcoin is this 237 00:13:25,200 --> 00:13:28,320 Speaker 1: morning moving lower at forty two thousand, one hundred sixty 238 00:13:28,360 --> 00:13:31,600 Speaker 1: dollars as a Bloomberg Business flash. How here's Michael Barrow 239 00:13:31,600 --> 00:13:33,800 Speaker 1: with Moore on what's going on around the world. Muchael, 240 00:13:33,800 --> 00:13:37,200 Speaker 1: Good morning, Good morning, Karen. Some airlines have canceled flights 241 00:13:37,280 --> 00:13:40,960 Speaker 1: to the capital of Ukraine, and troops there have unloaded 242 00:13:41,000 --> 00:13:45,040 Speaker 1: fresh shipments of weapons from NATO members. The US has 243 00:13:45,080 --> 00:13:48,080 Speaker 1: been warning of a possible invasion within days by a 244 00:13:48,120 --> 00:13:51,959 Speaker 1: growing number of Russian forces aids. The President Volodamir z 245 00:13:51,960 --> 00:13:55,440 Speaker 1: Olinsky and President Joe Biden say. The two leaders spoke 246 00:13:55,480 --> 00:13:59,800 Speaker 1: for about an hour yesterday. Russian teenager Camilla Value of 247 00:13:59,840 --> 00:14:03,280 Speaker 1: a Uh has been cleared to compete in the women's 248 00:14:03,320 --> 00:14:07,600 Speaker 1: figure skating competition at the Beijing Winter Olympics, Spike failing 249 00:14:07,640 --> 00:14:10,920 Speaker 1: a pregames drug test. Super Bowl fifty six is in 250 00:14:10,960 --> 00:14:14,120 Speaker 1: the books. The Los Angeles Rams beat the Cincinnati Bengals 251 00:14:14,120 --> 00:14:17,800 Speaker 1: twenty in the NBA, of the Celtics lost in the NHL. 252 00:14:17,920 --> 00:14:21,080 Speaker 1: The Devil's Lost. Global news twenty four hours a day 253 00:14:21,120 --> 00:14:24,200 Speaker 1: on here and on Bloomberg Quittake, powered by more than 254 00:14:24,280 --> 00:14:28,000 Speaker 1: twenty seven under journalist analyist more than twenty countries. Michael 255 00:14:28,000 --> 00:14:30,880 Speaker 1: bar This is Bloomberg. Nathan Okay, Michael. Thanks, It's five 256 00:14:30,960 --> 00:14:34,480 Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. 257 00:14:34,520 --> 00:14:37,520 Speaker 1: This is Bloomberg Daybreak, and Dennis Gartman is with us, 258 00:14:37,520 --> 00:14:40,640 Speaker 1: now chairman of the University of Akron Endowment Investment Committee, 259 00:14:40,880 --> 00:14:43,360 Speaker 1: former publisher of the Gartment Letter. As we watch this 260 00:14:43,480 --> 00:14:47,120 Speaker 1: broad equity sell off on the prospect of a Russian 261 00:14:47,160 --> 00:14:50,360 Speaker 1: invasion Ukraine of Ukraine, Dennis, I'm curious what you think 262 00:14:50,400 --> 00:14:53,480 Speaker 1: the market reaction would be if there actually is an 263 00:14:53,480 --> 00:14:57,760 Speaker 1: invasion of Ukraine. Probably would bounce for the better. But 264 00:14:58,080 --> 00:15:00,400 Speaker 1: this is a bear market, Nagan. We have to under standard. 265 00:15:00,440 --> 00:15:03,280 Speaker 1: That's there's more going on here than just Russia. There's 266 00:15:03,320 --> 00:15:05,520 Speaker 1: the prospect of the FED taking away the fuel that 267 00:15:05,560 --> 00:15:08,240 Speaker 1: has fired this bowl market for such a long time. 268 00:15:08,880 --> 00:15:11,480 Speaker 1: And for twelve weeks I've been relentlessly saying that this 269 00:15:11,560 --> 00:15:13,720 Speaker 1: is a bear market and we need to be very careful. 270 00:15:14,160 --> 00:15:15,960 Speaker 1: He or she who loses the least in the bear 271 00:15:16,080 --> 00:15:18,760 Speaker 1: market will become the winner. And that's the reality that 272 00:15:18,800 --> 00:15:21,080 Speaker 1: nobody wants to understand and nobody wants to deal with. 273 00:15:21,160 --> 00:15:24,800 Speaker 1: But clearly this morning, the the concerns are over what's 274 00:15:24,880 --> 00:15:27,480 Speaker 1: what Russian tends to do. I have my doubts as 275 00:15:27,480 --> 00:15:29,760 Speaker 1: to whether Russian tends to invade. It doesn't serve its 276 00:15:29,880 --> 00:15:33,080 Speaker 1: purposes very well sending Russian body bags back home, and 277 00:15:33,160 --> 00:15:35,760 Speaker 1: it will not play well with the Russian population. And 278 00:15:35,800 --> 00:15:38,480 Speaker 1: I think that by the time this is done, we'll 279 00:15:38,480 --> 00:15:41,680 Speaker 1: probably see nothing from the Russians at this point. But nonetheless, 280 00:15:41,720 --> 00:15:44,920 Speaker 1: the markets are anti the markets are uncomfortable, and the 281 00:15:45,160 --> 00:15:48,560 Speaker 1: Russian certain circumstances just adding fuel to a to a 282 00:15:48,600 --> 00:15:51,680 Speaker 1: fire where the fuel of monetary expansion has been taken away. 283 00:15:51,720 --> 00:15:54,520 Speaker 1: So this is a bear market. Be very careful out there. 284 00:15:54,560 --> 00:15:56,760 Speaker 1: We still have a ways to go on the downside, 285 00:15:57,040 --> 00:16:00,040 Speaker 1: and what bothers me greatly. On rallies the volume have 286 00:16:00,120 --> 00:16:03,160 Speaker 1: been diminishing, and on breaks the volume increases. That's how 287 00:16:03,200 --> 00:16:05,840 Speaker 1: bear markets function. This is a bear market. Be careful. 288 00:16:06,280 --> 00:16:07,960 Speaker 1: What makes you say that this is something that the 289 00:16:08,000 --> 00:16:10,800 Speaker 1: market doesn't understand that we're in a bear market. I mean, 290 00:16:10,840 --> 00:16:13,240 Speaker 1: there is a lot of pricing in the market for 291 00:16:13,520 --> 00:16:16,680 Speaker 1: the Fed to start taking away support as soon as 292 00:16:16,920 --> 00:16:19,880 Speaker 1: the next few weeks. You would think that people would 293 00:16:19,920 --> 00:16:22,640 Speaker 1: understand that more. But we have been trained, or the 294 00:16:22,680 --> 00:16:25,080 Speaker 1: market has trained the public to be to be a 295 00:16:25,080 --> 00:16:28,280 Speaker 1: believer that you buy a weakness. And it's been a 296 00:16:28,280 --> 00:16:30,720 Speaker 1: bull market for what a decade or more, and people 297 00:16:30,760 --> 00:16:34,320 Speaker 1: get trained to believe in the validity and the excellency 298 00:16:34,440 --> 00:16:36,800 Speaker 1: of a bull market, and that takes a while for 299 00:16:36,840 --> 00:16:41,160 Speaker 1: people to be to be cured of that of that habit. 300 00:16:41,280 --> 00:16:43,160 Speaker 1: So that's I think that's what's going on. It bothered 301 00:16:43,160 --> 00:16:46,880 Speaker 1: me greatly that we saw an expansion of options trading, 302 00:16:46,880 --> 00:16:48,960 Speaker 1: we saw an expansion of SPACs trading, We saw an 303 00:16:49,000 --> 00:16:52,400 Speaker 1: expansion of n f T trading, expansion of of a 304 00:16:52,400 --> 00:16:56,000 Speaker 1: bitcoin and cryptocurrency trading. Those were all examples of the 305 00:16:56,000 --> 00:16:59,200 Speaker 1: public being brought into the market late in the afternoon 306 00:16:59,240 --> 00:17:01,800 Speaker 1: of a long day at the at the bull market, 307 00:17:01,800 --> 00:17:05,120 Speaker 1: and I think that people have have to be admonished 308 00:17:05,119 --> 00:17:07,080 Speaker 1: of the fact that the bull market had probably run 309 00:17:07,119 --> 00:17:09,280 Speaker 1: its course and that a bear market is upon us. 310 00:17:09,359 --> 00:17:13,280 Speaker 1: The only good sign is that historically bear markets tend 311 00:17:13,320 --> 00:17:15,840 Speaker 1: to go fifteen and seventeen percent down if there's not 312 00:17:16,280 --> 00:17:19,639 Speaker 1: a recession. They tend to go thirty lower if there 313 00:17:19,680 --> 00:17:21,960 Speaker 1: is a recession. I have my doubts as to whether 314 00:17:22,000 --> 00:17:24,360 Speaker 1: there's a recession on the horizon, and we're getting close. 315 00:17:24,400 --> 00:17:27,320 Speaker 1: So I think we're now down in the nastact from 316 00:17:27,320 --> 00:17:30,520 Speaker 1: its from its peak of what the three or four 317 00:17:30,560 --> 00:17:33,439 Speaker 1: months ago. So maybe we're getting closer to the end 318 00:17:33,440 --> 00:17:35,040 Speaker 1: of the bear market. But I have my doubts. So 319 00:17:35,040 --> 00:17:37,479 Speaker 1: I think people need to be careful and rallies are 320 00:17:37,520 --> 00:17:40,520 Speaker 1: still to be sold into what what's behind your view 321 00:17:40,520 --> 00:17:43,520 Speaker 1: that we might not be at risk of a recession. 322 00:17:43,560 --> 00:17:46,720 Speaker 1: We got a note this morning from Morgan Stanley's Michael 323 00:17:46,760 --> 00:17:50,680 Speaker 1: Wilson that the possibility of a Russian invasion of Ukraine 324 00:17:50,960 --> 00:17:54,680 Speaker 1: raises the risk that we could headed toward a recession. Here. Oh, 325 00:17:54,840 --> 00:17:57,120 Speaker 1: there's no question that does raise the risk. The only 326 00:17:57,280 --> 00:18:01,200 Speaker 1: the one, the one been an optimist circumstances, the fact 327 00:18:01,200 --> 00:18:05,240 Speaker 1: that that corporate and and and personal balance sheets are 328 00:18:05,359 --> 00:18:08,359 Speaker 1: as liquid as they've been in decades, and people have 329 00:18:08,440 --> 00:18:09,880 Speaker 1: saved a lot of money. There's a lot of money 330 00:18:09,920 --> 00:18:14,040 Speaker 1: on the sidelines. And perhaps there is a hope, a wish, 331 00:18:14,160 --> 00:18:17,320 Speaker 1: a desire that we don't go into a recessionary circumstances. 332 00:18:17,359 --> 00:18:19,840 Speaker 1: But I really do have my doubts that we can, 333 00:18:20,280 --> 00:18:22,960 Speaker 1: that we will stay out. I'm fearful that the recession 334 00:18:23,000 --> 00:18:26,320 Speaker 1: will start. I'm fearful that the monetary authorities, having become 335 00:18:26,359 --> 00:18:30,400 Speaker 1: as expansionary as they have been, will become contractionary over 336 00:18:30,440 --> 00:18:32,320 Speaker 1: the course of the next year or two. That clearly 337 00:18:32,400 --> 00:18:35,440 Speaker 1: they're stopping the quantitative easy and clearly we're on the 338 00:18:35,680 --> 00:18:38,520 Speaker 1: vanguard of monetary tightening. Let us just hope that the 339 00:18:38,560 --> 00:18:41,880 Speaker 1: Fed does not sell bonds from its its balance sheet, 340 00:18:41,920 --> 00:18:44,440 Speaker 1: that it only lets them mature off. If they start 341 00:18:44,480 --> 00:18:47,880 Speaker 1: selling bonds because they're so fearful of inflation, then then 342 00:18:47,920 --> 00:18:49,720 Speaker 1: the yield curve goes to an inversion. Then you have 343 00:18:49,760 --> 00:18:51,919 Speaker 1: a recession. But let us hope that we don't have 344 00:18:51,920 --> 00:18:54,120 Speaker 1: a recession. It's it's not something i'd like to say. 345 00:18:54,160 --> 00:18:57,399 Speaker 1: It's it's tough enough to be barish of stocks, to 346 00:18:57,480 --> 00:19:00,880 Speaker 1: be barish in both recessionary is uh is a sinful 347 00:19:00,920 --> 00:19:03,320 Speaker 1: so hack of a better term. We only have about 348 00:19:03,320 --> 00:19:06,000 Speaker 1: thirty seconds left here, Dennis, Where do you see bond 349 00:19:06,080 --> 00:19:10,320 Speaker 1: yields going in the medium term? The tenure probably will 350 00:19:10,359 --> 00:19:13,080 Speaker 1: be three percent before the end of the before the 351 00:19:13,119 --> 00:19:15,080 Speaker 1: end of this year, maybe maybe early next year. I 352 00:19:15,080 --> 00:19:16,760 Speaker 1: think we take the ten year above ten percent. But 353 00:19:16,800 --> 00:19:18,800 Speaker 1: do you have to remember when I first started trading 354 00:19:18,840 --> 00:19:21,000 Speaker 1: the long bond in in in the late nineteen seventies 355 00:19:21,000 --> 00:19:24,040 Speaker 1: and early nineteen eighties. I can remember the long bond, 356 00:19:24,119 --> 00:19:26,640 Speaker 1: the thirty year having a fourteen and a quarter percent coupon, 357 00:19:27,119 --> 00:19:28,919 Speaker 1: and you couldn't give them away at the time. And 358 00:19:30,200 --> 00:19:32,840 Speaker 1: I bring a bad history to the bond market remembering 359 00:19:32,840 --> 00:19:35,879 Speaker 1: how how high yields can actually go. All right, Dennis, 360 00:19:35,880 --> 00:19:38,120 Speaker 1: as always great to get your thoughts. Thanks so much. 361 00:19:38,119 --> 00:19:41,520 Speaker 1: Dennis Gartman, former publisher of The Gartman Letter and now 362 00:19:41,960 --> 00:19:45,680 Speaker 1: Chairman of the University of Akron Endowment Investment Committee. As 363 00:19:45,720 --> 00:19:49,000 Speaker 1: we continue to watch the equity sell off around the world, 364 00:19:49,080 --> 00:19:51,680 Speaker 1: SMP futures down thirty six points, down Town futures down 365 00:19:51,680 --> 00:19:54,320 Speaker 1: two fifty one, NASTAC futures are lower by a hundred 366 00:19:54,359 --> 00:19:58,000 Speaker 1: thirty eight points. The Docks and the Cack in Europe 367 00:19:58,160 --> 00:20:02,360 Speaker 1: both down three per scent. You're listening to Bloomberg Daybreak, 368 00:20:07,320 --> 00:20:09,719 Speaker 1: Bloomberg eleven three oh weather, upper twenties. That's all we'll 369 00:20:09,760 --> 00:20:11,560 Speaker 1: get to today. By tomorrow we'll be in the mid 370 00:20:11,600 --> 00:20:15,359 Speaker 1: thirties and could see fifty degrees by Wednesday. Right now, 371 00:20:15,480 --> 00:20:25,240 Speaker 1: only eighteen in Central Park, broadcasting live from the Bloomberg 372 00:20:25,280 --> 00:20:28,800 Speaker 1: Interactive Broker Studio in New York. Bloomberg E Living Free 373 00:20:28,880 --> 00:20:33,200 Speaker 1: on to Washington, d C. Bloomberg to Boston, Bloomberg one 374 00:20:33,480 --> 00:20:36,960 Speaker 1: six one to San Francisco, Bloomberg sixty to the country, 375 00:20:37,040 --> 00:20:39,679 Speaker 1: Sirius XM to the one nine team, and around the 376 00:20:39,680 --> 00:20:43,720 Speaker 1: globe the Bloomberg Business and Bloomberg Radio dot Com. This 377 00:20:44,080 --> 00:20:52,880 Speaker 1: is Bloomberg Daybreak. It's five thirty on Wall Street. Good morning. 378 00:20:52,880 --> 00:20:55,879 Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Were just about 379 00:20:55,880 --> 00:20:58,360 Speaker 1: four hours away from the open of US trading. Let's 380 00:20:58,359 --> 00:20:59,719 Speaker 1: get you have to date on the news you need 381 00:20:59,760 --> 00:21:02,280 Speaker 1: to know. At this hour, stocks are tumbling as geo 382 00:21:02,320 --> 00:21:06,439 Speaker 1: political risks over Ukraine ripple through global markets. Russia has 383 00:21:06,480 --> 00:21:09,720 Speaker 1: repeatedly denied intentions to invade Ukraine, but the US is 384 00:21:09,760 --> 00:21:13,960 Speaker 1: warning a conflict maybe imminent. Here's National Security Advisor Jake Sullivan. 385 00:21:14,520 --> 00:21:19,080 Speaker 1: Russia wants to continue engaging diplomatically to find a way 386 00:21:19,119 --> 00:21:22,760 Speaker 1: forward to address their security concerns and our security concerns. 387 00:21:22,760 --> 00:21:25,879 Speaker 1: Were prepared to do that. If Prussia decides instead to 388 00:21:26,000 --> 00:21:29,959 Speaker 1: take major military action against Ukraine, were prepared to respond decisively. 389 00:21:30,359 --> 00:21:33,440 Speaker 1: National Security Advisor Jake Sullivan made the comments on Face 390 00:21:33,480 --> 00:21:37,240 Speaker 1: the Nation from CBS heard Sundays right here on Bloomberg 391 00:21:37,320 --> 00:21:40,320 Speaker 1: Radio and Karen, we're seeing these geopolitical tensions affect the 392 00:21:40,440 --> 00:21:44,120 Speaker 1: energy markets right now. Oil is holding relatively steady after 393 00:21:44,280 --> 00:21:47,560 Speaker 1: rising for eight straight weeks. Some investors predict a hundred 394 00:21:47,640 --> 00:21:51,840 Speaker 1: dollars of barrel right now. Nimex crudes at ninete seventeen cents. 395 00:21:51,920 --> 00:21:53,879 Speaker 1: That's a gain of about a tenth of a percent. 396 00:21:54,200 --> 00:21:57,600 Speaker 1: Brent is little changed at ninety four dollars forty one cents. Well. 397 00:21:57,680 --> 00:22:00,520 Speaker 1: Turning to the economy now, Nathan San Francisco at President 398 00:22:00,560 --> 00:22:03,359 Speaker 1: Mary Daily as weighing in on policy, She says the 399 00:22:03,400 --> 00:22:06,720 Speaker 1: FED needs to be measured and data dependent. Current forecast 400 00:22:06,760 --> 00:22:09,159 Speaker 1: call for as many as seven interest rate hikes this 401 00:22:09,280 --> 00:22:12,639 Speaker 1: year as COVID cases ease across the country. Back to 402 00:22:12,680 --> 00:22:15,159 Speaker 1: the office plans are coming back, but it turns out 403 00:22:15,200 --> 00:22:17,600 Speaker 1: a growing number of white collar workers do not want 404 00:22:17,640 --> 00:22:19,760 Speaker 1: to return to the office full time. Let's get the 405 00:22:19,760 --> 00:22:22,240 Speaker 1: details live from bloombergs Rnit A Young Good morning, Rnita, 406 00:22:22,280 --> 00:22:25,400 Speaker 1: Good morning, Nathan. Just three percent of white collar workers 407 00:22:25,400 --> 00:22:27,639 Speaker 1: want to return to the office five days a week. 408 00:22:28,000 --> 00:22:32,280 Speaker 1: That's according to a poll by management consultancy Advanced Workplace Associates, 409 00:22:32,520 --> 00:22:36,440 Speaker 1: which warns employees will quit if companies forced them back 410 00:22:36,480 --> 00:22:40,200 Speaker 1: full time. Eight six percent of the ten thousand employees 411 00:22:40,240 --> 00:22:42,920 Speaker 1: pulled globally want to work from home at least two 412 00:22:43,000 --> 00:22:45,639 Speaker 1: days a week. People from all age groups and a 413 00:22:45,680 --> 00:22:49,000 Speaker 1: broad range of industries felt the same way, and Advanced 414 00:22:49,000 --> 00:22:53,200 Speaker 1: Workplace Associates managing director Andrew Mawson says bosses who are 415 00:22:53,240 --> 00:22:57,760 Speaker 1: not sensitive to their employees needs will suffer. Accordingly, Live 416 00:22:57,800 --> 00:23:00,719 Speaker 1: in New York, I'm Rnita Young, Bloomberg Day, are all right, 417 00:23:00,760 --> 00:23:02,280 Speaker 1: We need to thank you and the final thing you 418 00:23:02,320 --> 00:23:04,440 Speaker 1: need to know this morning. The rams are Super Bowl 419 00:23:04,480 --> 00:23:06,800 Speaker 1: shampoo and L A B. The Bengals twenty three to 420 00:23:06,880 --> 00:23:11,240 Speaker 1: twenty last night. Details and reaction coming up shortly in sports. 421 00:23:11,680 --> 00:23:14,920 Speaker 1: Futures are following this morning, S and P Futures down 422 00:23:14,920 --> 00:23:17,880 Speaker 1: thirty eight points down, Futures down two hundred sixty one. 423 00:23:18,240 --> 00:23:21,200 Speaker 1: NAS Day Future has done a hundred fifty three tenure 424 00:23:21,240 --> 00:23:23,960 Speaker 1: treasury up six thirty seconds. You had one point nine 425 00:23:24,040 --> 00:23:27,040 Speaker 1: one percent. They yield on the two year one point 426 00:23:27,119 --> 00:23:30,120 Speaker 1: five to per cent. Straight to had your latest local 427 00:23:30,160 --> 00:23:33,560 Speaker 1: headlines and yes, the check a sports and this is 428 00:23:33,600 --> 00:23:41,200 Speaker 1: Bloomberg all right, Karen. Thanks three on Wall Street, eighteen 429 00:23:41,240 --> 00:23:43,520 Speaker 1: degrees in Central Park, still dealing with the accident on 430 00:23:43,560 --> 00:23:46,240 Speaker 1: westbound l I at the career of View Expressway. Details 431 00:23:46,280 --> 00:23:48,600 Speaker 1: coming up in traffic, but first Michael bar is here 432 00:23:48,600 --> 00:23:50,439 Speaker 1: with what else is going on in New York and 433 00:23:50,520 --> 00:23:52,840 Speaker 1: around the world. Michael, thank you very much. Nathan, the 434 00:23:52,840 --> 00:23:57,639 Speaker 1: busiest US Canada border crossing as reopened after protests against 435 00:23:57,640 --> 00:24:01,000 Speaker 1: COVID nineteen restrictions closed it four almost to week. The 436 00:24:01,040 --> 00:24:04,560 Speaker 1: Detroit International Bridge Company sent and the statement late last 437 00:24:04,680 --> 00:24:08,280 Speaker 1: night at the Ambassador Bridge is now fully open. Wins 438 00:24:08,280 --> 00:24:12,360 Speaker 1: A police chief Pamelent Mazzoono, says authorities arrested over two 439 00:24:12,400 --> 00:24:16,040 Speaker 1: dozen people yesterday, sees five vehicles and towed seven more. 440 00:24:16,320 --> 00:24:18,919 Speaker 1: What was achieved today up to this point is a 441 00:24:18,960 --> 00:24:22,240 Speaker 1: huge step in the right direction. Officers today made several 442 00:24:22,320 --> 00:24:25,000 Speaker 1: arrests and we're able to seize vehicles of demonstrators in 443 00:24:25,040 --> 00:24:29,280 Speaker 1: the area. Meanwhile, the protests in Ottawa has paralyzed downtown. 444 00:24:29,680 --> 00:24:32,399 Speaker 1: Across the country and around the globe, renewed debate and 445 00:24:32,480 --> 00:24:36,520 Speaker 1: protests over mask mandates and COVID restrictions. In the US, 446 00:24:37,119 --> 00:24:42,520 Speaker 1: growing list of democratic governors are easing mask requirements, insisting 447 00:24:42,560 --> 00:24:46,400 Speaker 1: that their decision is based on medical data, not political pressure. 448 00:24:46,840 --> 00:24:51,920 Speaker 1: Dr Darien Sutton, an emergency room physician, supports tougher CDC 449 00:24:52,160 --> 00:24:55,320 Speaker 1: guidance on masks. Although the rates are coming down and 450 00:24:55,359 --> 00:24:58,840 Speaker 1: I'm grateful for that, we still have approximately deaths per 451 00:24:59,000 --> 00:25:01,639 Speaker 1: day from this virus, and I think we've sadly normalized that. 452 00:25:01,960 --> 00:25:04,520 Speaker 1: And unfortunately, when you look at those numbers. We've become 453 00:25:04,600 --> 00:25:06,679 Speaker 1: used to them, and I think that people have feel 454 00:25:06,840 --> 00:25:09,680 Speaker 1: feel some sense of security or safety, but unfortunately that's 455 00:25:09,680 --> 00:25:12,359 Speaker 1: just not We're not quite there yet. Dr Sutton spoke 456 00:25:12,440 --> 00:25:16,440 Speaker 1: to ABC New York. Mayor Eric Adams is backing Letitia 457 00:25:16,560 --> 00:25:20,439 Speaker 1: James for re election. James, who as state Attorney General, 458 00:25:20,520 --> 00:25:24,560 Speaker 1: has led investigations into former President Donald Trump and former 459 00:25:24,600 --> 00:25:28,760 Speaker 1: Andrew Cuomo. According to james campaign, Adams sighted her fight 460 00:25:28,840 --> 00:25:32,240 Speaker 1: on behalf of Everyday New Yorkers for his endorsement. Social 461 00:25:32,280 --> 00:25:35,240 Speaker 1: media has been buzzing about the Super Bowl halftime show. 462 00:25:35,600 --> 00:25:44,040 Speaker 1: Many say it's the best one they've seen. W Rappers, 463 00:25:44,080 --> 00:25:47,080 Speaker 1: Snoop Dogg, and Dr Dre opened it up. Eminem was 464 00:25:47,119 --> 00:25:49,960 Speaker 1: part of the show along with Mary J. Blige. Global 465 00:25:50,000 --> 00:25:52,240 Speaker 1: News twenty four hours a day on air and on 466 00:25:52,280 --> 00:25:55,520 Speaker 1: Bloomberg Quickday, powered by more than twenty seven hundred journalists 467 00:25:55,520 --> 00:25:58,640 Speaker 1: and analysts more than a hundred twenty countries. Michael Barr, 468 00:25:58,680 --> 00:26:01,320 Speaker 1: this is Bloomberg. Nath here am bopping in my seat again. 469 00:26:01,359 --> 00:26:08,800 Speaker 1: Thank you, Michael thirty five on Wall Street Time for 470 00:26:08,800 --> 00:26:12,399 Speaker 1: a super Bloomberg Sports update. Quite the game for fans. 471 00:26:12,480 --> 00:26:22,119 Speaker 1: John stash Are Well, maybe we'll hear about it in 472 00:26:22,160 --> 00:26:25,160 Speaker 1: the minutes ahead. Here. We'll check back in with John 473 00:26:25,359 --> 00:26:28,199 Speaker 1: in the minutes ahead. In the meantime, let's get the 474 00:26:28,240 --> 00:26:31,560 Speaker 1: Tri State Business Report at five thirty six on Wall Street. 475 00:26:31,600 --> 00:26:34,920 Speaker 1: Here's Bloomberg's Ed Corey. Transit officials in New York are 476 00:26:34,960 --> 00:26:38,040 Speaker 1: hoping a recent uptick in subway ridership is a sign 477 00:26:38,080 --> 00:26:41,119 Speaker 1: that the city's bouncing back from the omicron surge. The 478 00:26:41,160 --> 00:26:46,000 Speaker 1: Metropolitan Transportation Authority reported subway ridership top three million for 479 00:26:46,080 --> 00:26:48,800 Speaker 1: three days in a row last week. The pandemic has 480 00:26:48,800 --> 00:26:53,080 Speaker 1: been particularly difficult for Connecticut residents in the state's poorest cities. 481 00:26:53,520 --> 00:26:57,640 Speaker 1: The current reports of Connecticut adults say they're worse off 482 00:26:57,680 --> 00:27:00,480 Speaker 1: on angeline than they were two years ago. A recent 483 00:27:00,520 --> 00:27:03,520 Speaker 1: survey says that number was thirty one percent at Hartford, 484 00:27:03,840 --> 00:27:07,159 Speaker 1: twenty nine percent and Bridgeport, twenty percent in New Haven, 485 00:27:07,160 --> 00:27:10,800 Speaker 1: and twenty eight percent in Waterbury. A new law says 486 00:27:10,840 --> 00:27:13,320 Speaker 1: employers in New Jersey will have to give workers written 487 00:27:13,359 --> 00:27:17,480 Speaker 1: notice before using tracking devices on vehicles they operate. It 488 00:27:17,560 --> 00:27:21,000 Speaker 1: takes effect in April. The law defines tracking device is 489 00:27:21,080 --> 00:27:23,199 Speaker 1: something intempted to be used for the sole purpose of 490 00:27:23,240 --> 00:27:26,600 Speaker 1: tracking the movement of a vehicle, person, or device that 491 00:27:26,800 --> 00:27:30,320 Speaker 1: you Bloomberg try and state business report. I'm in Corey, Okay. 492 00:27:30,480 --> 00:27:32,840 Speaker 1: Thanks for coming up to five thirty seven on Wall Street. 493 00:27:33,000 --> 00:27:35,480 Speaker 1: Bloomberg Radio is on the air from San Francisco to 494 00:27:35,480 --> 00:27:38,000 Speaker 1: New York, London to Hong Kong. Let's check in with 495 00:27:38,040 --> 00:27:40,159 Speaker 1: our global news team for some of the top stories 496 00:27:40,200 --> 00:27:43,040 Speaker 1: heard on our three hundred affiliate radio stations around the world. 497 00:27:46,160 --> 00:27:50,000 Speaker 1: Umaho on ptr H in Houston. Conco Phillips is said 498 00:27:50,000 --> 00:27:52,360 Speaker 1: to be looking to sell a billion dollars in permium 499 00:27:52,400 --> 00:27:56,080 Speaker 1: basin assets. I'm John Donneker telling w BDM listeners in 500 00:27:56,160 --> 00:27:59,639 Speaker 1: Chicago Bowling isn't worried about its streamline or customers switching 501 00:27:59,680 --> 00:28:02,560 Speaker 1: to air Bus. I'm John Tucker for ten TED Winds 502 00:28:02,560 --> 00:28:04,760 Speaker 1: of New York. I reported New Jersey based J and 503 00:28:04,880 --> 00:28:08,720 Speaker 1: J depending its use of bankruptcy law to avoid thousands 504 00:28:08,760 --> 00:28:13,320 Speaker 1: of lawsuits. I'm Caroline Head complog DAN Digital Radio in London. 505 00:28:13,320 --> 00:28:16,000 Speaker 1: Were reporting on the search in UK and European energy 506 00:28:16,119 --> 00:28:19,679 Speaker 1: prices as concerned grows over the potential for a Russian 507 00:28:19,720 --> 00:28:23,480 Speaker 1: invasion into UK. I'm in Corey on w w J 508 00:28:23,600 --> 00:28:27,440 Speaker 1: and Detroit. I'm reporting a Sopranos themed Chevy ad last 509 00:28:27,480 --> 00:28:30,280 Speaker 1: night during the Super Bowl marked the first big marketing 510 00:28:30,320 --> 00:28:33,840 Speaker 1: push for the Silverado e V. And those are some 511 00:28:33,880 --> 00:28:36,879 Speaker 1: of the stories our tyred Bloomberg journalists and analysts are 512 00:28:36,880 --> 00:28:39,360 Speaker 1: working on this morning around the world. But of course 513 00:28:39,360 --> 00:28:42,160 Speaker 1: it wasn't just about the ads. We have a game 514 00:28:42,240 --> 00:28:45,400 Speaker 1: to recap. Here's John Stash. Are the Bloomberg sports up 515 00:28:45,400 --> 00:28:49,840 Speaker 1: there all the mornings, right, madepical snaffle all Right? Super 516 00:28:49,880 --> 00:28:52,880 Speaker 1: Bowl fifty six in ol A Rams ten point lane 517 00:28:52,880 --> 00:28:55,440 Speaker 1: and I fell behind trail the Bengals for most of 518 00:28:55,440 --> 00:28:57,600 Speaker 1: the second half of Matthew Stafford led them on a 519 00:28:57,680 --> 00:29:00,280 Speaker 1: super Bowl winning drive seven nine yards fifty as they 520 00:29:00,280 --> 00:29:03,080 Speaker 1: were helped by a couple of Bengals penalties. Stafford's third 521 00:29:03,120 --> 00:29:05,640 Speaker 1: touchdown passed the second they went to Cooper Cup and 522 00:29:05,760 --> 00:29:08,640 Speaker 1: came with a minute a half remaining, and Aaron Donald 523 00:29:08,640 --> 00:29:10,600 Speaker 1: in the l A defense stopped Cincinnati on the fourth. 524 00:29:10,600 --> 00:29:12,920 Speaker 1: Now the Rams had a twenty three to twenty victory. 525 00:29:13,000 --> 00:29:16,160 Speaker 1: Cup was far and away the NFL's top receiver this season, 526 00:29:16,160 --> 00:29:17,800 Speaker 1: and he was the Super Bowl m VP's only even 527 00:29:17,800 --> 00:29:20,320 Speaker 1: stake was when he overthrew Stafford on a wide open 528 00:29:20,480 --> 00:29:23,920 Speaker 1: pass but Donald, longtime defensive star, a big factor, and 529 00:29:23,960 --> 00:29:26,320 Speaker 1: Stafford wins the title in his first season in l 530 00:29:26,360 --> 00:29:29,840 Speaker 1: A after many years languishing on bad teams in Detroit. 531 00:29:31,200 --> 00:29:33,840 Speaker 1: Drive one. I'll never forget just so many great plays 532 00:29:33,880 --> 00:29:37,120 Speaker 1: by so many great players, and uh just I'm just 533 00:29:37,160 --> 00:29:43,880 Speaker 1: so happy to get it done. And Angles had quite 534 00:29:43,920 --> 00:29:47,640 Speaker 1: a postseason run, but an inability to protect Joe Burrow 535 00:29:47,640 --> 00:29:50,000 Speaker 1: caught up with then Burrow sack seven times. The NBA 536 00:29:50,080 --> 00:29:51,800 Speaker 1: eighth straight win for the South, thinks Nicks back home 537 00:29:51,880 --> 00:29:54,360 Speaker 1: tonight for Oclooma City and hl Pittsburgh scored three in 538 00:29:54,360 --> 00:29:56,400 Speaker 1: the third through the Devil's four two with the guarden 539 00:29:56,480 --> 00:29:59,240 Speaker 1: Yukon Pete st John's sixty three sixty US one gold 540 00:29:59,240 --> 00:30:05,680 Speaker 1: and silver in the Bob's leg. John, right, glad we 541 00:30:05,760 --> 00:30:07,880 Speaker 1: got you back, Thank you, John. Let's take a look 542 00:30:07,920 --> 00:30:12,120 Speaker 1: at markets now with a risk certainly off geopolitical risks 543 00:30:12,240 --> 00:30:16,080 Speaker 1: at the four for investors this morning on the possibility 544 00:30:16,120 --> 00:30:19,120 Speaker 1: of a Russian invasion of Ukraine. Right now, SMP futures 545 00:30:19,120 --> 00:30:22,000 Speaker 1: are down thirty four points. Now futures are lower by 546 00:30:22,000 --> 00:30:25,520 Speaker 1: two hundred twenty nine. NASTACK futures on the decline by 547 00:30:25,560 --> 00:30:27,680 Speaker 1: a hundred thirty eight points. That's a drop of about 548 00:30:27,680 --> 00:30:30,360 Speaker 1: one percent. The docks in Germany the cat in Paris 549 00:30:30,360 --> 00:30:34,040 Speaker 1: are both down three percent. We're seeing heavy selling inequities 550 00:30:34,280 --> 00:30:36,800 Speaker 1: in Europe this morning. The ten year treasury right now 551 00:30:36,880 --> 00:30:39,800 Speaker 1: is up five thirty seconds. The yield one point nine 552 00:30:39,800 --> 00:30:42,640 Speaker 1: one percent. Two year yield right now one point five 553 00:30:42,680 --> 00:30:45,000 Speaker 1: two percent. Looking at the thirty it's at two point 554 00:30:45,080 --> 00:30:48,640 Speaker 1: to two percent. Nimex crude moving a touch higher, up 555 00:30:48,680 --> 00:30:50,840 Speaker 1: a quarter percent or twenty three cents now at ninety 556 00:30:50,880 --> 00:30:53,520 Speaker 1: three dollars thirty two cents a barrel. Brent is up 557 00:30:53,560 --> 00:30:56,440 Speaker 1: two tenths percent at fifty nine comes Gold up eight 558 00:30:56,440 --> 00:31:00,000 Speaker 1: tenths percent of fifteen dollars forty cents at eighteen fifty 559 00:31:00,080 --> 00:31:03,000 Speaker 1: seven fifty announced. The euro one point one three one 560 00:31:03,040 --> 00:31:05,520 Speaker 1: two against the dollar the end one fifteen point one 561 00:31:05,560 --> 00:31:10,000 Speaker 1: eight Bitcoin at forty two thousand one dollars up. Next 562 00:31:10,080 --> 00:31:13,520 Speaker 1: to Bloomberg, Big take what COVID has in store for 563 00:31:13,560 --> 00:31:18,640 Speaker 1: the world as the pandemic enters year three. This is 564 00:31:18,680 --> 00:31:25,240 Speaker 1: Bloomberg Bloomberg eleven three oh weather sunny, breezy, cold today, 565 00:31:25,280 --> 00:31:29,360 Speaker 1: only maybe thirty degrees mid thirties tomorrow, upper forties maybe 566 00:31:29,360 --> 00:31:39,280 Speaker 1: fifty by Wednesday. Right now eighteen degrees in Central Park markets, 567 00:31:39,360 --> 00:31:42,440 Speaker 1: headlines and breaking news twenty four hours a day at 568 00:31:42,480 --> 00:31:46,440 Speaker 1: Bloomberg dot Com, the Bloomberg Business and at Bloomberg Quick Tape. 569 00:31:47,000 --> 00:31:56,400 Speaker 1: He's a Bloomberg Business lash and I'm Karen Moscow. And 570 00:31:56,520 --> 00:31:59,400 Speaker 1: futures are falling this morning. We checked the markets every 571 00:31:59,400 --> 00:32:03,200 Speaker 1: fifteen minute throughout the trading day. On Bloomberg SMP futures 572 00:32:03,240 --> 00:32:06,280 Speaker 1: down thirty three points and down futures down two hundred 573 00:32:06,320 --> 00:32:10,000 Speaker 1: twenty four, NASDAC futures down one hundred thirty two. This 574 00:32:10,120 --> 00:32:14,840 Speaker 1: says geo political risks over Ukraine ripple through global markets. 575 00:32:15,120 --> 00:32:17,760 Speaker 1: The decks in Germany is down two point nine per 576 00:32:17,840 --> 00:32:20,479 Speaker 1: cent ten your treasury of four thirty seconds, he held 577 00:32:20,520 --> 00:32:22,440 Speaker 1: one point nine two percent, a yield on the two 578 00:32:22,520 --> 00:32:25,400 Speaker 1: year one point five three percent. Nine. Mex scrude oil 579 00:32:25,480 --> 00:32:27,640 Speaker 1: is up two tenths per centred nineteen cents and ninety 580 00:32:27,680 --> 00:32:30,320 Speaker 1: three dollars twenty nine cents of barrel. Comex school is 581 00:32:30,360 --> 00:32:32,600 Speaker 1: up three quarters of a percent of fourteen dollars at 582 00:32:32,600 --> 00:32:35,600 Speaker 1: eighteen fifty six ten and ounce. The euro one point 583 00:32:35,600 --> 00:32:37,800 Speaker 1: one three one eight against the dollar British found one 584 00:32:37,800 --> 00:32:40,120 Speaker 1: point three five two six, the yen is at one 585 00:32:40,160 --> 00:32:43,400 Speaker 1: fifteen point to zero, and bitcoin this morning at forty 586 00:32:43,400 --> 00:32:47,040 Speaker 1: two thousand, one hundred fifty dollars. That's a Bloomberg Business flashdown. 587 00:32:47,040 --> 00:32:49,280 Speaker 1: Here's Michael Barr with more on what's going on around 588 00:32:49,280 --> 00:32:52,400 Speaker 1: the world. Michael Karen, thank you very much. Tensions over 589 00:32:52,480 --> 00:32:56,480 Speaker 1: Russia's military build up near Ukraine are entering potentially decisive 590 00:32:56,560 --> 00:33:00,880 Speaker 1: week the US morning, and evasion maybe imminent. Russian President 591 00:33:00,960 --> 00:33:05,200 Speaker 1: Vladimir Putin is accusing America of failing to meet his demands. Meanwhile, 592 00:33:05,600 --> 00:33:10,000 Speaker 1: President Joe Biden spoke with Ukraine's president yesterday. Russian teenager 593 00:33:10,080 --> 00:33:13,280 Speaker 1: Camilla Valieva has been cleared to compete in the women's 594 00:33:13,280 --> 00:33:17,760 Speaker 1: figure skating competition at the Beijing Winter Olympics despite failing 595 00:33:17,800 --> 00:33:21,479 Speaker 1: a pregames drug test. Super Bowl fifty six is in 596 00:33:21,560 --> 00:33:25,000 Speaker 1: the books. The Los Angeles Rams beat the Cincinnati Bengals 597 00:33:26,280 --> 00:33:28,840 Speaker 1: in the NBA, the Celtics lost in the NHL, The 598 00:33:28,880 --> 00:33:31,840 Speaker 1: Devil's Lost. Global news twenty four hours a day on 599 00:33:31,920 --> 00:33:35,200 Speaker 1: air and on Bloomberg Quittake, powered by more than twenty 600 00:33:35,240 --> 00:33:37,880 Speaker 1: seven hundred journalists and analysts in more than a hundred 601 00:33:37,880 --> 00:33:41,840 Speaker 1: twenty countries. I'm Michael bar This is Bloomberg. This is 602 00:33:41,840 --> 00:33:45,440 Speaker 1: the Big Take, the best of Bloomberg's in depth, original 603 00:33:45,480 --> 00:33:48,360 Speaker 1: reporting from around the globe. We're running on a financial 604 00:33:48,360 --> 00:33:51,960 Speaker 1: system that's running on old technology. We're seeing places reach 605 00:33:52,160 --> 00:33:55,240 Speaker 1: fresh recordized. What unfolds in mid terms, we will no 606 00:33:55,320 --> 00:33:58,600 Speaker 1: doubt see again in the next presidential election. The Big 607 00:33:58,720 --> 00:34:03,160 Speaker 1: Take on bloom Bird Radio. It's five forty nine on 608 00:34:03,200 --> 00:34:06,080 Speaker 1: Wall Street Line from the Bloomberg Interactive Broker Studios. This 609 00:34:06,160 --> 00:34:09,040 Speaker 1: is Bloomberg Daybreak, and our Big Take this morning is 610 00:34:09,040 --> 00:34:11,800 Speaker 1: on the pandemic and what COVID nineteen has in store 611 00:34:11,840 --> 00:34:14,439 Speaker 1: for the world as the virus now heads into its 612 00:34:14,600 --> 00:34:18,120 Speaker 1: third year spreading across the globe. Bloomberg Medical Science and 613 00:34:18,120 --> 00:34:21,880 Speaker 1: Tech reporter Michelle Cortez wrote the latest Big Take. She 614 00:34:21,960 --> 00:34:24,200 Speaker 1: joins us now for more. Michelle, it's good to have 615 00:34:24,239 --> 00:34:27,360 Speaker 1: you with us. Certainly a lot of people, including policymakers, 616 00:34:27,400 --> 00:34:30,000 Speaker 1: as we've been seeing, we're hoping that the oh maicron 617 00:34:30,280 --> 00:34:34,600 Speaker 1: variant would be the last gasp of this pandemic. It's 618 00:34:34,800 --> 00:34:37,120 Speaker 1: coming at a very interesting time when we're seeing a 619 00:34:37,200 --> 00:34:40,719 Speaker 1: lot of countries start to dial back restrictions, even though 620 00:34:40,760 --> 00:34:47,759 Speaker 1: we've seen this dramatic surge in COVID cases. Absolutely, the 621 00:34:47,920 --> 00:34:51,600 Speaker 1: virus is going to actually a virus does and at 622 00:34:51,600 --> 00:34:55,400 Speaker 1: this point, I don't think anybody who actually understands the 623 00:34:55,480 --> 00:34:59,560 Speaker 1: way this science works here expects this to just basically 624 00:35:00,040 --> 00:35:02,680 Speaker 1: you dry up and disappear. So what's going to happen 625 00:35:02,840 --> 00:35:07,160 Speaker 1: is the virus will search for ways to mutate around 626 00:35:07,239 --> 00:35:11,600 Speaker 1: the existing immunity that's in the population, either from pre 627 00:35:11,760 --> 00:35:17,040 Speaker 1: pre existing vaccination or natural infection. The big question is 628 00:35:17,040 --> 00:35:19,560 Speaker 1: going to be what is this next variant going to 629 00:35:19,640 --> 00:35:22,000 Speaker 1: look like? Certainly, as you point out, there are a 630 00:35:22,040 --> 00:35:25,080 Speaker 1: lot of places that are done with wearing masks. People 631 00:35:25,120 --> 00:35:27,279 Speaker 1: don't want to take tests anymore. Before they get on 632 00:35:27,320 --> 00:35:30,239 Speaker 1: an airplane, you don't have to prove your vaccinated. But 633 00:35:30,600 --> 00:35:32,960 Speaker 1: then there are other places in the world where we're 634 00:35:32,960 --> 00:35:37,920 Speaker 1: starting to see additional cases. Creep up depths and severe 635 00:35:37,960 --> 00:35:41,000 Speaker 1: disease are a real thing in many places, and we're 636 00:35:41,080 --> 00:35:43,919 Speaker 1: just really not done with this virus yet. Even though 637 00:35:44,000 --> 00:35:47,600 Speaker 1: we all want to be what do scientists think that 638 00:35:47,719 --> 00:35:51,719 Speaker 1: next variant could look like? There seems to be a 639 00:35:51,840 --> 00:35:55,799 Speaker 1: lot of broad range as to whether it could be 640 00:35:56,080 --> 00:36:01,360 Speaker 1: less infectious, less severe, or could of the other way? 641 00:36:01,400 --> 00:36:05,080 Speaker 1: Is there a consensus at this point? They're really just 642 00:36:05,280 --> 00:36:07,960 Speaker 1: isn't a consensus at this point. Again, the concern was 643 00:36:08,480 --> 00:36:11,560 Speaker 1: that that we were going to see a spinoff of Delta, 644 00:36:12,000 --> 00:36:16,279 Speaker 1: when we actually when Amicron emerged, and it turns out 645 00:36:16,320 --> 00:36:20,360 Speaker 1: that a macron is a milder variant, and it was 646 00:36:20,480 --> 00:36:24,000 Speaker 1: actually breeding already just as we were starting to get 647 00:36:24,080 --> 00:36:28,799 Speaker 1: hit with with Delta. So while Acron was out there 648 00:36:28,960 --> 00:36:31,920 Speaker 1: in the wild really making everyone sick and very very 649 00:36:32,000 --> 00:36:35,840 Speaker 1: high numbers, we could have already been developing the next 650 00:36:36,000 --> 00:36:38,960 Speaker 1: variant that's going to hit. And the concern is, of 651 00:36:39,000 --> 00:36:42,359 Speaker 1: course that it would build on on Delta. There is 652 00:36:42,440 --> 00:36:46,319 Speaker 1: some you know, folk wisdom that usually that viruses will 653 00:36:46,360 --> 00:36:50,560 Speaker 1: become less um deadly as they as they progress, because 654 00:36:50,920 --> 00:36:53,520 Speaker 1: obviously the virus doesn't want to kill off all its toasts, 655 00:36:53,560 --> 00:36:55,759 Speaker 1: because then it would kill off itself. Many of the 656 00:36:55,840 --> 00:36:58,000 Speaker 1: experts that I spoke with said that's in fact not 657 00:36:58,160 --> 00:37:01,880 Speaker 1: necessarily how it always works. So as we've seen throughout 658 00:37:02,000 --> 00:37:06,439 Speaker 1: this particular pandemic, we have gotten more infectious variants, we've 659 00:37:06,480 --> 00:37:10,760 Speaker 1: gotten less infectious variants, we've gotten more virulent variants, and less, 660 00:37:10,840 --> 00:37:13,320 Speaker 1: so it is just uncertain as to what's going to 661 00:37:13,400 --> 00:37:16,440 Speaker 1: come next. What do we know about long COVID At 662 00:37:16,480 --> 00:37:18,279 Speaker 1: this point, it seems like we've really just sort of 663 00:37:18,320 --> 00:37:22,480 Speaker 1: scratched the surface as to what the impact of persistent 664 00:37:22,680 --> 00:37:28,160 Speaker 1: symptoms after you lose the initial virus could be and 665 00:37:28,200 --> 00:37:30,959 Speaker 1: what their impact, what the impact of long COVID could 666 00:37:30,960 --> 00:37:35,359 Speaker 1: be on the economy. This is absolutely the thing that's 667 00:37:35,440 --> 00:37:38,480 Speaker 1: keeping many of the experts awake at night. They know 668 00:37:38,680 --> 00:37:41,719 Speaker 1: that there is a not in substantial percentage of the 669 00:37:41,760 --> 00:37:46,000 Speaker 1: population people who didn't even get severely ill, moren't hospitalized, 670 00:37:46,080 --> 00:37:49,600 Speaker 1: not on eventilator, who will be grappling with this for 671 00:37:49,600 --> 00:37:52,440 Speaker 1: for days and weeks and months to come. We also 672 00:37:52,520 --> 00:37:55,480 Speaker 1: know that those risks can be silent, so it's not 673 00:37:55,600 --> 00:37:57,560 Speaker 1: for you know, a year, until you find out that, 674 00:37:57,600 --> 00:38:00,160 Speaker 1: in fact, you've suffered some kind of cardiac damage or 675 00:38:00,280 --> 00:38:02,920 Speaker 1: other organ damage that could be with you for an 676 00:38:02,920 --> 00:38:06,440 Speaker 1: extended period of time. It's interesting because we are learning 677 00:38:06,520 --> 00:38:10,080 Speaker 1: that that these viruses can have laughing immunity, you know, 678 00:38:10,160 --> 00:38:13,200 Speaker 1: chronic the ki syndrome, and other things that were generally 679 00:38:13,280 --> 00:38:15,600 Speaker 1: looked down upon. People didn't really believe it. Now we 680 00:38:15,719 --> 00:38:18,319 Speaker 1: know that there really is an element of this, as 681 00:38:18,360 --> 00:38:21,960 Speaker 1: if we needed more confirmation to your point to hear 682 00:38:22,120 --> 00:38:26,319 Speaker 1: something that that economies and governments and doctors are going 683 00:38:26,360 --> 00:38:28,640 Speaker 1: to have to be dealing with all these people who 684 00:38:28,640 --> 00:38:30,680 Speaker 1: are going to be sick for an extended period of time. 685 00:38:31,000 --> 00:38:33,720 Speaker 1: We don't know the number we have, as you said, 686 00:38:33,760 --> 00:38:36,239 Speaker 1: only scratched the service at this point. But for the 687 00:38:36,239 --> 00:38:39,080 Speaker 1: people who are infected by or affected by this, it 688 00:38:39,239 --> 00:38:41,680 Speaker 1: is a real and laughing problem. Now. There's much more 689 00:38:41,680 --> 00:38:43,480 Speaker 1: on this, obviously in the Big Take story on the 690 00:38:43,560 --> 00:38:46,719 Speaker 1: terminal and a Bloomberg dot Com slash Big Take Bloomberg's 691 00:38:46,719 --> 00:38:49,239 Speaker 1: Michelle Cortez, thanks for being with us this morning. Really 692 00:38:49,280 --> 00:38:51,960 Speaker 1: appreciate it, Karen Nathan. It is f fifty four on 693 00:38:52,000 --> 00:38:54,279 Speaker 1: Walla Street Times at the Bloomberg Law Report, Let's get 694 00:38:54,320 --> 00:38:56,359 Speaker 1: to the legal stories where are watching this morning? From 695 00:38:56,400 --> 00:39:02,799 Speaker 1: Bloomberg's Jeff Bellinger. A federal class lawsuit filed in San 696 00:39:02,840 --> 00:39:07,080 Speaker 1: Francisco charges that are changed to Southwest Airlines attendance discipline 697 00:39:07,120 --> 00:39:11,080 Speaker 1: policy for flight attendance penalizes workers who use family or 698 00:39:11,160 --> 00:39:14,719 Speaker 1: medical lead. A proposed settlement between Activision Lizard and the 699 00:39:14,719 --> 00:39:18,879 Speaker 1: Equal Employment Opportunity Commission over sexual harassment claims is being 700 00:39:18,960 --> 00:39:23,240 Speaker 1: challenged by a union representing company employees. A Swedish company 701 00:39:23,280 --> 00:39:27,120 Speaker 1: is suing Amazon dot Com and Walmart for patent infringement 702 00:39:27,200 --> 00:39:30,120 Speaker 1: over their sales of electrical cords that emit light to 703 00:39:30,200 --> 00:39:35,040 Speaker 1: indicate power consumption. Bloomberg Law everything you need, all on 704 00:39:35,040 --> 00:39:40,520 Speaker 1: one legal research platform, including guidance analysis and Bloomberg market intelligence. 705 00:39:40,719 --> 00:39:44,239 Speaker 1: Find out more at Bloomberg Law dot com. Thanks Jeff. 706 00:39:44,280 --> 00:39:46,600 Speaker 1: Now another legal story we're watching. A jury will be 707 00:39:46,640 --> 00:39:49,080 Speaker 1: seated today in the hate crimes trial of three men 708 00:39:49,160 --> 00:39:52,040 Speaker 1: for the murder of Ahmad Arebury. A state jury has 709 00:39:52,040 --> 00:39:54,319 Speaker 1: already convicted the three Wide men of murder, but now 710 00:39:54,320 --> 00:39:57,200 Speaker 1: a federal jury will decide if they murdered Orebury because 711 00:39:57,200 --> 00:39:59,640 Speaker 1: he was black. For more in the case, Bloomberg, June 712 00:39:59,640 --> 00:40:03,800 Speaker 1: Grass of Species you bail, law professor at Indiana University, 713 00:40:03,920 --> 00:40:06,520 Speaker 1: Let's start with the big question. What is the point 714 00:40:06,719 --> 00:40:09,600 Speaker 1: of a hate crimes trial when these men are going 715 00:40:09,640 --> 00:40:12,719 Speaker 1: to spend the rest of their lives in prison. The 716 00:40:12,840 --> 00:40:17,279 Speaker 1: point of a hate crime trial in such circumstances is 717 00:40:17,640 --> 00:40:22,520 Speaker 1: to show anyone else who might commit such acts of 718 00:40:22,640 --> 00:40:26,280 Speaker 1: violence or similar acts of violence in the future that 719 00:40:26,800 --> 00:40:30,560 Speaker 1: the United States government is going to punish you. It's 720 00:40:30,600 --> 00:40:34,040 Speaker 1: a deterrence effect. And given the number of hate crimes, 721 00:40:34,120 --> 00:40:38,480 Speaker 1: the significant increase in the number of hate crimes reported 722 00:40:38,520 --> 00:40:42,279 Speaker 1: to the FBI by police departments across the country, there's 723 00:40:42,320 --> 00:40:45,760 Speaker 1: a real need for deterrence in this area. There's also 724 00:40:46,560 --> 00:40:52,680 Speaker 1: an acknowledgement to the family that this behavior was raised 725 00:40:52,800 --> 00:40:57,600 Speaker 1: face and you didn't have that with the ordinary criminal charges. 726 00:40:58,400 --> 00:41:00,680 Speaker 1: There was a deal in place, and it would have 727 00:41:00,760 --> 00:41:04,440 Speaker 1: avoided the trial, of course, required the McMichaels to admit 728 00:41:04,480 --> 00:41:08,399 Speaker 1: to racist motives and forfeit their right to appeal their 729 00:41:08,400 --> 00:41:12,880 Speaker 1: federal sentence. It seemed like a good deal for the system. 730 00:41:12,920 --> 00:41:16,800 Speaker 1: Why did the judge reject their plea agreement with the prosecutors. 731 00:41:17,560 --> 00:41:22,439 Speaker 1: News reports suggest that the judge rejected the plea deal 732 00:41:22,840 --> 00:41:27,400 Speaker 1: because the family had a problem with these perpetrators going 733 00:41:27,480 --> 00:41:31,600 Speaker 1: to federal prison as opposed to state prison, and that 734 00:41:31,680 --> 00:41:36,200 Speaker 1: recognizes the pain of the family and the fact that 735 00:41:36,600 --> 00:41:41,960 Speaker 1: this was a racially violent crime, and that the perpetrators 736 00:41:42,000 --> 00:41:45,800 Speaker 1: should do hard time in state prison. In the state's 737 00:41:45,800 --> 00:41:48,680 Speaker 1: case against the man, the key piece of evidence was 738 00:41:48,880 --> 00:41:53,160 Speaker 1: a video showing them chasing are Very through their neighborhood 739 00:41:53,400 --> 00:41:55,360 Speaker 1: will that be a key piece of evidence do you 740 00:41:55,400 --> 00:41:59,080 Speaker 1: think in the federal trial as well? It will if 741 00:41:59,160 --> 00:42:04,040 Speaker 1: the government's theory, it's predicated on the ways in which 742 00:42:04,440 --> 00:42:07,520 Speaker 1: this sort of violence has worked in the past. In 743 00:42:07,560 --> 00:42:13,800 Speaker 1: the past, racist crimes have occurred in white neighborhoods because 744 00:42:14,000 --> 00:42:18,920 Speaker 1: individuals who lived in those neighborhoods rejected the idea that 745 00:42:19,080 --> 00:42:23,520 Speaker 1: African Americans should purchase houses or spend any time in 746 00:42:23,560 --> 00:42:28,000 Speaker 1: the neighborhoods. So that's part of the government theory of 747 00:42:28,040 --> 00:42:33,080 Speaker 1: the case, that this is a time worn reaction to 748 00:42:33,239 --> 00:42:38,360 Speaker 1: African Americans in white neighborhoods. Than the video will be 749 00:42:38,480 --> 00:42:41,640 Speaker 1: quite important to that. And that's Indiana University law professor 750 00:42:41,719 --> 00:42:44,560 Speaker 1: Jeanine Bell staying with Bloomberg's doing Grosso. Catch more of 751 00:42:44,640 --> 00:42:47,120 Speaker 1: that interview, plus analysis of the latest legal news by 752 00:42:47,160 --> 00:42:49,759 Speaker 1: listening to the Bloomberg Law Show. This is Bloomberg