WEBVTT - Bloomberg Daybreak: April 1, 2022 - Hour 2 (Radio) 0:00:03.440 --> 0:00:06.720 Live from the Bloomberg Interactor Brooker Studios. This is Bloomberg 0:00:06.800 --> 0:00:11.000 Daybreak for Friday, April one. Coming up this sour peace 0:00:11.080 --> 0:00:13.960 talks are set to resume between Russia and Ukraine. The 0:00:14.040 --> 0:00:17.000 second quarter kicks off after an historically bad one for 0:00:17.079 --> 0:00:21.080 stocks and bonds. Talks of a recession threatened confidence for investors, 0:00:21.320 --> 0:00:23.759 and Wall Street looks to the March jobser four for 0:00:23.800 --> 0:00:26.880 the latest reading on the economy. A Jodge orders New 0:00:26.960 --> 0:00:30.880 York's Democrat controlled legislature to redraw the states in congressional districts. 0:00:30.880 --> 0:00:33.960 Plus New Jersey Governor Murphy has covid. I'm Michael bar 0:00:34.200 --> 0:00:37.879 More ahead, I'm John stashtoward sports over time in Brooklyn, 0:00:37.920 --> 0:00:40.600 the Bucks, Beef, the Nets, and yet another injury concern 0:00:40.720 --> 0:00:45.440 for metsdays. Jacob de Grand. That's all straight ahead on 0:00:45.640 --> 0:00:49.120 Bloomberg day Break on Bloomberg Even Free on New York 0:00:49.240 --> 0:00:54.000 Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 0:00:54.160 --> 0:00:58.639 Bloomberg nine six, San Francisco, Sirius x M one nineteen 0:00:59.040 --> 0:01:01.720 and around the world. Go on Bloomberg Radio dot Com 0:01:01.840 --> 0:01:08.639 and via The Bloomberg Business. Good Morning. I'm Nathan Hagar. 0:01:09.040 --> 0:01:11.720 And I'm Karen Moscow in Ustock. Index Future is on 0:01:11.760 --> 0:01:13.840 the rise this morning. We're coming up to six o 0:01:13.959 --> 0:01:15.720 one on Wall Street. I mean check the markets every 0:01:15.720 --> 0:01:18.720 fifteen minutes throughout the trading day. On Bloomberg Guess and 0:01:18.760 --> 0:01:21.240 P Future is up twenty three points down. Futures have 0:01:21.280 --> 0:01:23.600 a hundred seventy eight and nasday Future is up eighty 0:01:23.720 --> 0:01:27.040 one Tenure Treasury down eighteen thirties seconds two point for 0:01:27.280 --> 0:01:29.520 zero percent, and they yield on the two year two 0:01:29.520 --> 0:01:32.520 point three eight percent. Nine X Screwed oil is little 0:01:32.600 --> 0:01:35.280 change at a hundred dollars one cents and barrel. Nathan 0:01:35.440 --> 0:01:37.120 Karen will have more on the markets in a minute, 0:01:37.120 --> 0:01:40.000 but first we start in Ukraine. Peace talks with Russia 0:01:40.040 --> 0:01:42.800 are set to resume today. Those negotiations will be by 0:01:42.880 --> 0:01:46.800 video meantime. Russia says to Ukrainian military helicopters made a 0:01:46.840 --> 0:01:49.880 strike across the border and hit a Russian oil tank facility. 0:01:50.200 --> 0:01:54.200 Amy Morris has the latest from our Bloomberg newsroom in Washington. 0:01:54.560 --> 0:01:57.320 Kiva is not confirmed the strike in Russia, but did 0:01:57.320 --> 0:02:00.200 say its forces retook several villages in the cur uson 0:02:00.280 --> 0:02:03.400 reach into the south. This as President Biden says Vladimir 0:02:03.440 --> 0:02:06.280 Putin may have detained some of his own advisors. He 0:02:06.400 --> 0:02:09.960 seems to be self vice slaved, and there's some indication 0:02:10.080 --> 0:02:13.679 that he has um fired or put in the house 0:02:13.760 --> 0:02:17.080 arrest some of his advisers. Meanwhile, the United Nations says 0:02:17.120 --> 0:02:20.360 relief convoys are unable so far to reach Mariopol, but 0:02:20.400 --> 0:02:23.480 Russia says it will open a humanitarian corridor there. Today 0:02:23.800 --> 0:02:27.079 in Washington, I maybe Morris Bloomberg Daybreak right, Amy, thank 0:02:27.080 --> 0:02:30.080 you China also and focus this morning. European leaders are 0:02:30.120 --> 0:02:32.560 warning Beijing about involvement in the war. And we go 0:02:32.720 --> 0:02:35.320 live to Lindon and get the latest with Bloomberry's un parts. 0:02:35.360 --> 0:02:38.040 Good morning, Uen, Good morning Karen and Nathan. The European 0:02:38.040 --> 0:02:42.400 Commission's president says China has a special responsibility to demand 0:02:42.560 --> 0:02:47.280 Russia respects international law and to defend Ukraine's sovereignty. That's 0:02:47.280 --> 0:02:49.760 the message that Arson of Vonderli will deliver to Beijing 0:02:49.760 --> 0:02:52.840 today at a virtual summit expected to be dominated by 0:02:52.919 --> 0:02:56.160 Russia's war. Europeans are expected to tell China that any 0:02:56.160 --> 0:02:59.440 help to Moscow to avoid sanctions or to supply weapons 0:02:59.440 --> 0:03:03.120 will result in severe consequences. Live in London. I'mu and 0:03:03.160 --> 0:03:05.880 pults day break. Okay, you and thanks. Turning back to markets, 0:03:05.919 --> 0:03:08.440 now Oils heading for its biggest weekly loss in almost 0:03:08.480 --> 0:03:12.280 two years after falling seven percent yesterday. It's little change 0:03:12.320 --> 0:03:14.720 now with NIME ex scruded a hundred dollars thirty three 0:03:14.720 --> 0:03:17.760 cents and brented a d eighty four. That's after the 0:03:17.800 --> 0:03:22.320 White House ordered an unprecedented release of strategic reserves. Democratic 0:03:22.400 --> 0:03:25.480 Michigan Congressman Damn Killed He says it's a good first step. 0:03:25.720 --> 0:03:28.200 I don't think by itself it solves the problem, but 0:03:28.240 --> 0:03:30.160 it's a step. I'd like to see us do a 0:03:30.200 --> 0:03:32.880 couple other things, but this is a step in the 0:03:32.960 --> 0:03:36.120 right direction. People need relief at the pump, and this 0:03:36.160 --> 0:03:38.080 will make a difference in terms of the prices they're 0:03:38.120 --> 0:03:41.960 seeing for everything. Congressman Dan Kildy also supports the temporary 0:03:41.960 --> 0:03:44.000 lift on the federal and state gas tax. He spoke 0:03:44.000 --> 0:03:47.120 with our Washington correspondent Joe Matthew on Bloomberg Sound On 0:03:47.400 --> 0:03:50.800 Catch the program weekdays at five pm Eastern on Bloomberg Radio. 0:03:51.280 --> 0:03:53.680 All Right, Nathan wore Inflation and the lingering impact of 0:03:53.720 --> 0:03:56.720 the pandemic made the first quarter, a historically rough one 0:03:56.760 --> 0:04:00.000 for investors. More than three trillion dollars were erased from 0:04:00.000 --> 0:04:03.920 on iniquity values in the period. Megan Hornman, chief investment 0:04:03.960 --> 0:04:08.040 officer at Verdense Capital Advisor, sees the current situation as 0:04:08.040 --> 0:04:10.680 a buying opportunity. We are also looking at some of 0:04:10.680 --> 0:04:13.080 the areas that are getting beaten down the most, you know, 0:04:13.160 --> 0:04:15.360 some of the growth areas that got hit really bad 0:04:15.360 --> 0:04:17.760 in January and February. We did put some money to 0:04:17.800 --> 0:04:20.120 work there, thinking that over the long run that they 0:04:20.120 --> 0:04:23.400 had been unfairly pushed lower because of what's going on 0:04:23.440 --> 0:04:25.640 with interest rates as well as the war with Rush 0:04:25.720 --> 0:04:29.280 in Ukraine. Megan horn Men with Verdense Capital Advisor says 0:04:29.279 --> 0:04:32.640 earning season will be key for future market action. Well. 0:04:32.720 --> 0:04:35.440 Questions are swirling about what earnings will look like, Karen, 0:04:35.480 --> 0:04:38.920 and also whether recessions coming. City Group Global Chief Economist 0:04:39.000 --> 0:04:42.520 Nathan Sheet says the odds of that are significant. Globally, 0:04:43.240 --> 0:04:47.560 uh it's around a third the geo political situation, the 0:04:47.680 --> 0:04:52.040 energy situation is very severe. I think in the United 0:04:52.080 --> 0:04:55.480 States we are insulated an notch when I think about 0:04:55.600 --> 0:04:59.360 kind of the global situation coupled with the federal reserve 0:04:59.560 --> 0:05:03.160 potential se hiking very rapidly, maybe one in four over 0:05:03.200 --> 0:05:06.119 the next eighteen months. It is it is significant. City 0:05:06.120 --> 0:05:08.880 Group Global Chief Economist Nathan Sheets made the comments on 0:05:08.920 --> 0:05:11.800 Bloomberg's Balance of Power. Catch that program weekdays at noon 0:05:11.839 --> 0:05:14.720 Eastern on Bloomberg Radio and Television. Well Nathan mc game 0:05:14.760 --> 0:05:16.960 more clues about the economy later this morning with the 0:05:17.000 --> 0:05:19.239 release of the March jobs are poor at the median 0:05:19.320 --> 0:05:22.160 forecast colls for four nine thousand new jobs at an 0:05:22.200 --> 0:05:25.280 employment rate of three point seven percent. Became more from 0:05:25.279 --> 0:05:28.960 Bloombergy's Michael McKee. Analysts expect March was another strong month 0:05:29.000 --> 0:05:32.440 of job growth, although borrowing a major surprise, the numbers 0:05:32.480 --> 0:05:34.359 may not make a whole lot of difference to the 0:05:34.400 --> 0:05:37.240 Fed policymakers have all but said there in line to 0:05:37.320 --> 0:05:40.160 raise the nation's benchmark lending rate by half a percentage 0:05:40.200 --> 0:05:43.400 point on May fourth. Nevertheless, they will feel better if 0:05:43.440 --> 0:05:45.880 they see a lot of Americans going back into the 0:05:45.960 --> 0:05:49.680 labor force. That would ease pressure on wages and therefore 0:05:50.000 --> 0:05:54.680 on inflation. That's particularly true for manufacturing companies have struggled 0:05:54.680 --> 0:05:57.760 to find factory workers, leading some to turn away business. 0:05:58.080 --> 0:06:01.279 Michael McKee Bloomberg Daybreak, Mike. Thanks, Let's send the corporate 0:06:01.279 --> 0:06:04.279 news now with a focus on the world's largest retail site. 0:06:04.320 --> 0:06:07.920 The push to unionize that Amazon is growing. Let's get 0:06:07.920 --> 0:06:10.040 the latest life from Bloomberg's You need a young Good morning, 0:06:10.480 --> 0:06:13.760 Good morning, Nathan. The upstart Amazon labor union in Staten 0:06:13.800 --> 0:06:17.160 Island is closer to forming. Workers who want to organize 0:06:17.160 --> 0:06:20.039 are leading by more than three hundred and fifty votes 0:06:20.279 --> 0:06:25.039 out of about dred tallied. That count will continue today. Meantime, 0:06:25.080 --> 0:06:28.440 Amazon workers in Alabama voted to reject a union in 0:06:28.480 --> 0:06:31.800 a tight race yesterday, but the National Labor Relations Board 0:06:31.800 --> 0:06:34.039 says about a quarter of the votes are challenged and 0:06:34.080 --> 0:06:37.600 will need to be reviewed. Those could potentially change the outcome. 0:06:38.040 --> 0:06:40.560 Live in New York, I'm gonna need a young Bloomberg Debriak. 0:06:40.880 --> 0:06:42.880 We need to thank you. And in early trading this morning, 0:06:42.920 --> 0:06:45.960 we're seeing shares of Game Stomp up about fifteen per cent. 0:06:46.040 --> 0:06:49.120 The video game retailer plans to ask shareholders for approval 0:06:49.120 --> 0:06:51.080 of a stock split in the form of a dividend, 0:06:51.400 --> 0:06:54.359 and that mayre's recent moves from Amazon, Alphabet, and Tesla, 0:06:54.680 --> 0:06:57.120 and right now, futures are higher with SMP futures up 0:06:57.120 --> 0:06:59.680 twenty two point, staff futures up a D seventy fives 0:06:59.720 --> 0:07:02.160 that teachers up eighty one points. The tenure treasury is 0:07:02.200 --> 0:07:05.159 down eighteen thirty seconds. The yield two point four zero 0:07:05.160 --> 0:07:08.280 percent yield on the two year two point three nine, 0:07:08.920 --> 0:07:10.920 nim Ex screwed up two tenths percent or twenty cents 0:07:10.960 --> 0:07:12.760 and a hundred dollars forty eight cents a barrel, and 0:07:12.800 --> 0:07:16.840 comics gold is down to nine eight announced local headlines 0:07:16.840 --> 0:07:19.800 and the check of Sports. Up next to this is Bloomberg. 0:07:22.840 --> 0:07:25.000 It sounds six o seven on Wall Street. Clouds fifty 0:07:25.040 --> 0:07:27.440 five degrees in Central Park. We've got an accident in 0:07:27.440 --> 0:07:30.200 Staten Island that's at the lower level of Arizona Bridge. 0:07:30.320 --> 0:07:32.840 The tails coming up in traffic. First. Michael Barr with 0:07:32.880 --> 0:07:34.520 more on what's going on in New York and around 0:07:34.560 --> 0:07:36.920 the world. Michael, thank you very much. Nathan to Judges 0:07:37.000 --> 0:07:40.960 ordered New York's Democratic controlled legislature to redraw the state's 0:07:41.000 --> 0:07:45.760 congressional and legislative districts after finding they were unconstitutional. Judge 0:07:45.760 --> 0:07:48.520 Patrick McAllister said in the ruling that maps redrawing the 0:07:48.560 --> 0:07:53.800 states congressional district were Jerrymander to benefit Democrats. Judge McAllister 0:07:53.920 --> 0:07:57.320 gave lawmakers until April eleventh to try again, and if 0:07:57.360 --> 0:07:59.920 their new maps fail to pass muster in the courts, 0:08:00.520 --> 0:08:03.200 the judge said he would order the state to pay 0:08:03.440 --> 0:08:07.080 for a court approved expert to redraw the maps. The 0:08:07.200 --> 0:08:09.560 NYPD says a twelve year old boy was killed by 0:08:09.600 --> 0:08:12.800 gunfires he was eating in a parked car in Brooklyn 0:08:13.080 --> 0:08:15.720 with two family members, one of whom was shot and wounded. 0:08:16.120 --> 0:08:19.520 Assistant Chief Michael Kemper's said the boy was shot multiple 0:08:19.560 --> 0:08:23.480 times and pronounced dead at the scene. A preliminary investigation 0:08:23.520 --> 0:08:27.040 reveals that the three pulled over in the car to 0:08:27.120 --> 0:08:31.400 eat some food when shots were fired that penetrated their vehicle. 0:08:31.760 --> 0:08:34.240 Kempers said a twenty year old woman and the driver's 0:08:34.280 --> 0:08:37.000 seat was taken to the hospital and is expected to recover. 0:08:37.360 --> 0:08:39.920 An eight year old girl in the back seat was unhurt. 0:08:40.320 --> 0:08:43.240 New York City Mayor Eric Adams, also at the news conference, 0:08:43.240 --> 0:08:46.360 stressed the importance of getting guns off the streets. The 0:08:46.480 --> 0:08:49.160 question I can see to ask, what about the innocent people? 0:08:49.559 --> 0:08:51.760 What about people that sending their cause and the shot 0:08:51.760 --> 0:08:56.560 and kill? We have so much about those who are fighting. 0:08:57.240 --> 0:08:59.120 But when are we going to stop fighting for the 0:08:59.120 --> 0:09:02.200 innocent people at this city. Mayor Adam says, we need 0:09:02.280 --> 0:09:05.240 everyone to help us in this sense lens violence. New 0:09:05.320 --> 0:09:08.600 Jersey Governor Phil Murphy has tested positive for COVID nineteen 0:09:08.600 --> 0:09:11.760 and will isolate for five days. A spokesperson says Murphy 0:09:11.880 --> 0:09:15.559 is asymptomatic and feeling well, but will cancel all events. 0:09:16.240 --> 0:09:19.679 Most New Yorkers who worked from home during the pandemic 0:09:19.880 --> 0:09:22.120 planned to cut their time in the office by nearly 0:09:22.160 --> 0:09:25.440 half and spend less money in the city annually. According 0:09:25.480 --> 0:09:29.200 to Stanford economics professor Nicholas bloom the average New York 0:09:29.240 --> 0:09:32.040 City office worker would slash annuals spending in the city 0:09:32.080 --> 0:09:35.080 by more than sixty seven hundred dollars. That's down from 0:09:35.080 --> 0:09:39.160 an estimated twelve thousand, five hundred before the pandemic. At 0:09:39.160 --> 0:09:42.000 a news conference at the Federal Reserve Bank of New York, 0:09:42.000 --> 0:09:45.480 Blooms said the remote work push could cost New York 0:09:45.480 --> 0:09:48.920 between five and ten percent of its city center population. 0:09:49.280 --> 0:09:51.800 Global News twenty four hours a day on air and 0:09:52.000 --> 0:09:55.240 on Bloomberg Quicktake, powered by more than twenty seven hundred 0:09:55.280 --> 0:09:57.880 journalists and analysts. More than a hundred twenty countries. Michael 0:09:57.880 --> 0:10:05.400 bar this is Bloomberg. Nathan. Okay, Michael, thank you. Almost 0:10:05.400 --> 0:10:07.280 six ten on Wall Street. Time for the Bloomberg Sports 0:10:07.320 --> 0:10:10.000 Update with John eight And Originally the plan was for 0:10:10.080 --> 0:10:12.040 Jacob the Grounder spend the last day of March on 0:10:12.080 --> 0:10:14.360 the Mountain City Field pitched opening day for the Mets. Courts. 0:10:14.360 --> 0:10:16.480 Opening day pushed back a week after the lockout, so 0:10:16.559 --> 0:10:19.240 de Grohm instead was doing some long tossing in Port St. 0:10:19.280 --> 0:10:22.040 Lucy and he felt some tightness in his shoulder, and 0:10:22.080 --> 0:10:25.240 every Mets fan had the same thought, here we go again. 0:10:25.240 --> 0:10:27.840 When de Grom pitches, he's the best there is, but 0:10:28.000 --> 0:10:30.560 so often he doesn't pitch. Missed the second half of 0:10:30.640 --> 0:10:32.800 last season with an elbow injury, is likely headed now 0:10:32.840 --> 0:10:35.679 for an m r I over time in Brooklyn Milwaukee. 0:10:35.720 --> 0:10:38.560 Top that that's once one nineteen the honest of the couple. 0:10:38.600 --> 0:10:41.600 I scored forty four, Keevin Duran had twenty six points, 0:10:41.679 --> 0:10:44.560 Kyrie Evering twenty five. Islanders beet Columbus five. Two Devils 0:10:44.600 --> 0:10:47.440 lost in Boston eight to one, the last n I 0:10:47.520 --> 0:10:49.480 T game at the Garden, at least for a while. 0:10:49.520 --> 0:10:51.679 They are now going to move the tournament around to 0:10:51.760 --> 0:10:54.120 other cities Xavier, Top Texas, A and M in the 0:10:54.200 --> 0:10:57.680 Game of seventeen lead changes seventy three seventy two Women's 0:10:57.720 --> 0:11:00.240 Final four starts tonight in Minneapolis and then the ends 0:11:00.440 --> 0:11:03.680 or tomorrow in New Orleans. Four days after coaching St. 0:11:03.720 --> 0:11:05.800 Peter's in the n C Double A E lead A shade, 0:11:05.840 --> 0:11:08.520 and Holloway introduced as a new coach at Seton Hall. 0:11:09.080 --> 0:11:12.200 No shortcuts, no knuckle. I hope you guys right to work. No, 0:11:12.800 --> 0:11:15.760 I'll watch his team so while I don't know what 0:11:15.800 --> 0:11:19.160 you think to do. Oh after his meeting, after his 0:11:19.280 --> 0:11:21.880 brust covers first day, will you meeting to Boston? He staid, 0:11:22.200 --> 0:11:24.640 where's gonna take it? To play? For me? Understand the 0:11:24.679 --> 0:11:27.240 traditions of Seton Hall University. He's a Seton Hall along 0:11:27.360 --> 0:11:29.120 his salary and seeing all me about two and a 0:11:29.080 --> 0:11:31.800 half million, about ten times when he was making at St. Peter's. 0:11:31.880 --> 0:11:35.280 All of Holloway. St. Peter's players attended the pressider in 0:11:35.360 --> 0:11:38.640 South Orange gave their former coach a standing ovation. John 0:11:38.679 --> 0:11:41.959 Stash were Bloomberg Sports Maybe John thanks SMP future is 0:11:41.960 --> 0:11:44.040 now up twenty three point, staff futures up a hundred 0:11:44.080 --> 0:11:47.320 seventy eight, Nastack futures up eight seven tenure treasury yield 0:11:47.320 --> 0:11:49.480 two point four zero percent yield on the two year 0:11:49.559 --> 0:11:51.920 close to two point three nine. That's a spread of 0:11:52.000 --> 0:11:55.040 one basis point and nim X screwed is now up 0:11:55.080 --> 0:11:57.600 three tenths percent at a hundred dollars fifty six cents 0:11:57.640 --> 0:12:08.400 of barrel. You're listening to bloom Burg Daybreak. Bloomberg Daybreak 0:12:08.400 --> 0:12:10.480 brought to you by the Jewish Communal Fund j CFS 0:12:10.480 --> 0:12:13.079 donor Advice Fund is the smart choice to manage your philanthropy, 0:12:13.200 --> 0:12:16.280 especially in times of crisis. Make your giving impactful. Visit 0:12:16.400 --> 0:12:23.079 j c F n y dot org, markets headlines and 0:12:23.240 --> 0:12:26.480 breaking news twenty four hours a day a Bloomberg dot com, 0:12:26.640 --> 0:12:30.240 The Bloomberg Business Outland at Bloomberg quick Tape is a 0:12:30.280 --> 0:12:40.079 Bloomberg Business clash and I'm Karen Moscow. Stocks and futures 0:12:40.120 --> 0:12:43.560 are rising as investors evaluate the economic outlook amid tightening 0:12:43.640 --> 0:12:46.559 monetary policy and Russia's war in Ukraine. We checked the 0:12:46.600 --> 0:12:49.920 markets every fifteen minutes throughout the trading day on Bloomberg. 0:12:50.000 --> 0:12:52.240 Right now, S and P futures are up twenty three points. 0:12:52.520 --> 0:12:55.360 DAL futures up a hundred seventy three and NASTAG futures 0:12:55.400 --> 0:12:58.600 up eighty four. The decks in Germany's up half percent ten. 0:12:58.679 --> 0:13:01.400 Your treasury down seventy in thirty seconds yield two point 0:13:01.480 --> 0:13:03.600 four percent. They yield them at two year two point 0:13:03.640 --> 0:13:06.720 three eight percent. Nimex for oil is up to tens 0:13:06.760 --> 0:13:08.920 per cent or eighteen cents, and a hundred dollars forty 0:13:08.960 --> 0:13:11.760 six cents of barrel comex skull down nine tenths percent 0:13:11.880 --> 0:13:14.680 or seventeen dollars ten cents at nineteen thirty six eighty 0:13:14.720 --> 0:13:17.720 announce the euro one point one zero five three against 0:13:17.760 --> 0:13:20.120 the dollar, British found one point three one three six, 0:13:20.440 --> 0:13:22.959 the UN at one two point three nine and checking 0:13:23.000 --> 0:13:25.839 bitcoin it's down one and a half percent at forty 0:13:25.920 --> 0:13:29.400 five thousand is seventy five dollars. That's a Bloomberg business flash. 0:13:29.480 --> 0:13:31.400 Now here's Michael Barrow with more on what's going on 0:13:31.480 --> 0:13:35.040 around the world. Michael Darren, thank you very much. Russia 0:13:35.120 --> 0:13:38.520 claims Ukrainian forces have attacked a fuel depot across the 0:13:38.559 --> 0:13:41.280 border inside of Russia. If it's confirmed, it would be 0:13:41.360 --> 0:13:44.120 the first Ukrainian air strike on the Russian soil since 0:13:44.160 --> 0:13:48.120 the War started. Meanwhile, Ukrainian authorities say Russian troops have 0:13:48.400 --> 0:13:51.959 left the heavily contaminated to a Nobyl nuclear site. It 0:13:52.120 --> 0:13:55.199 comes as Russian in firms. Talks will resume today with 0:13:55.440 --> 0:13:59.959 Ukraine via video link. The European Union will seek China's reassuring. 0:14:00.000 --> 0:14:04.160 This is that it will not assist Russia in circumventing 0:14:04.200 --> 0:14:07.320 economic sensions leveled over the invasion of Ukraine at an 0:14:07.400 --> 0:14:10.880 annual summit. Today. In the NBA, the Nets lost in 0:14:10.960 --> 0:14:13.720 the NHL, the Bruins put a pitchfork in the Devil's 0:14:13.840 --> 0:14:18.040 eight on the Islanders won Global News twenty four hours 0:14:18.120 --> 0:14:20.680 a day on air and on Bloomberg Quick Takes, powered 0:14:20.680 --> 0:14:23.160 by more than the seven hundred journalists analysts more than 0:14:23.560 --> 0:14:27.000 twenty countries. Michael Barr, This is Bloomberg. Nathan Okay, Michael, 0:14:27.040 --> 0:14:29.240 Thanks at six nineteen on Wall Street Live from the 0:14:29.280 --> 0:14:32.920 Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak, and we're 0:14:33.000 --> 0:14:35.760 joined once again this morning by Mark Champion, Senior reporter 0:14:35.840 --> 0:14:39.720 for International Affairs for Bloomberg News. As we monitor developments 0:14:39.920 --> 0:14:42.120 in the war in Ukraine, and it does seem as 0:14:42.160 --> 0:14:45.360 though Mark, we are seeing some pretty significant developments. If 0:14:45.480 --> 0:14:49.120 this report pans out from Russia that Ukraine actually crossed 0:14:49.160 --> 0:14:52.760 its border and went on the offensive against an oil 0:14:52.880 --> 0:14:56.760 tank facility in the Russian territory, is this a sign 0:14:56.800 --> 0:15:00.800 that tables are turning well. Not necess necessarily that, but 0:15:00.920 --> 0:15:06.120 it is a sign that the Ukrainians are doubling down 0:15:06.200 --> 0:15:08.680 really on a tactic that's been very successful for them 0:15:08.720 --> 0:15:13.120 so far, which is to attack Russian logistics behind the lines. 0:15:13.720 --> 0:15:16.360 This time it's it's different. Instead of going for fuel 0:15:16.400 --> 0:15:20.080 tankers along the roads, which they've hit a lot, they've 0:15:20.160 --> 0:15:23.120 hit a fuel depot in Bilgorod, which is just on 0:15:23.240 --> 0:15:26.280 the other side of the border, a key supply route 0:15:26.360 --> 0:15:29.440 into the eastern Don Bass territories, which is where Russia 0:15:29.520 --> 0:15:34.080 says it's now going to concentrate it's it's offensives, So 0:15:34.200 --> 0:15:36.480 it's kind of drawing down above Kiev and in the 0:15:36.600 --> 0:15:40.680 north and and pushing in resources into the east. So 0:15:40.760 --> 0:15:44.840 it's a very smart and logical move for the Ukrainians 0:15:44.880 --> 0:15:47.640 to make. Really. Now we're also hearing reports as well 0:15:47.720 --> 0:15:52.000 that Russian forces are pulling away near the Chernobyl facility, 0:15:52.160 --> 0:15:55.360 and Ukraine is saying it's taking more territory and some 0:15:55.640 --> 0:15:59.240 villages as well. Can you catch us up on that. Yes, 0:15:59.560 --> 0:16:01.800 we don't, you know, we don't yet have a lot 0:16:01.880 --> 0:16:05.040 of confirmed data. But it does look like the Russians 0:16:05.160 --> 0:16:09.120 are pulling back towards the yellous uh, and the Ukrainians 0:16:09.160 --> 0:16:12.280 are sort of harassing them as they go. Uh. And 0:16:13.000 --> 0:16:16.480 they say that some forty villages around the country have 0:16:16.640 --> 0:16:19.240 been taken, But we don't, you know, we were. That's 0:16:19.480 --> 0:16:22.280 very difficult to confirm, and as always in the war, 0:16:22.440 --> 0:16:25.560 each side tends to exaggerate their successes and under under 0:16:26.320 --> 0:16:30.240 report on their their losses. But nevertheless, it does seem 0:16:30.280 --> 0:16:33.480 like there's some movement now while we continue to try 0:16:33.520 --> 0:16:36.400 to confirm these reports from the ground, how does this 0:16:36.560 --> 0:16:39.440 set us up for the resumption of talks that now 0:16:39.560 --> 0:16:44.840 both sides say is going to happen remotely today. Yes, 0:16:44.920 --> 0:16:48.440 they're gonna have another round according to the Russians of 0:16:48.960 --> 0:16:54.240 UM remote talks today. Uh. They haven't gone very far 0:16:54.440 --> 0:16:58.120 so far. UM. They have come to agreement on some 0:16:58.320 --> 0:17:00.800 of the what are not necessarily agreement, but they've on 0:17:00.880 --> 0:17:05.640 an agreement in principle on some of the more diplomatic areas. 0:17:05.760 --> 0:17:09.520 But territory is the real problem, which remains unaddressed. Uh, 0:17:09.720 --> 0:17:13.920 and that as we can see, Um, it's still if 0:17:14.200 --> 0:17:16.000 you know, we're in a phase of facts being made 0:17:16.080 --> 0:17:19.440 on the ground, as as often in these situations, the 0:17:19.560 --> 0:17:24.680 things continue simultaneously with the each side trying to make 0:17:25.200 --> 0:17:26.720 the facts on the ground that they can use as 0:17:26.800 --> 0:17:29.680 leverage and talks. Are we still facing, or at least 0:17:29.720 --> 0:17:33.359 as Ukraine still facing that trust yap with Russia needing 0:17:33.640 --> 0:17:36.640 UH ceasefire to be agreed to before they can get 0:17:36.680 --> 0:17:40.639 to some of those more thorny issues. Well, ceasefire is 0:17:40.760 --> 0:17:44.000 very likely to be the first stage. The difficulty is 0:17:44.960 --> 0:17:47.720 for Russia to you know, really have a ceasefire and 0:17:47.800 --> 0:17:51.399 start pulling troops out. Uh. You know that loses them 0:17:51.560 --> 0:17:54.520 leverage on the ground. They obviously have the dominant force, 0:17:55.440 --> 0:17:57.920 So you know, it's it's it's a it should be 0:17:58.040 --> 0:18:00.880 a simple issue, but it's actually extreme difficult to get 0:18:00.960 --> 0:18:04.040 to get to agreement as you kind of stage it 0:18:04.119 --> 0:18:06.520 in such a way as neither side thinks they're losing out. 0:18:06.880 --> 0:18:10.439 And you mentioned that the biggest issue for both sides 0:18:10.640 --> 0:18:13.600 is the issue of territory, But what about the neutral 0:18:13.760 --> 0:18:18.480 status idea that Ukraine is at least sounding open to 0:18:18.600 --> 0:18:22.840 the idea of some sort of neutral status is that 0:18:23.080 --> 0:18:26.359 potentially somewhere that both sides can sort of come to 0:18:26.400 --> 0:18:30.080 the middle on Yes, I know that that should be 0:18:30.200 --> 0:18:34.440 relatively easy to do us strangely because it was, you know, 0:18:34.600 --> 0:18:40.119 such a big issue leading into the warm but there 0:18:40.280 --> 0:18:43.960 was always some room for maneuver there. At various times 0:18:44.119 --> 0:18:47.840 Ukraine has had neutrality written into its law. Um, it 0:18:48.160 --> 0:18:51.560 was always possible, but it's you know, there's a lot 0:18:51.640 --> 0:18:54.200 of devil in the detail there as to what that means, 0:18:54.440 --> 0:18:56.639 what kind of you know, Russia also wants to go 0:18:57.119 --> 0:19:00.560 with that. It wants demilitarization. And the flip side to 0:19:00.680 --> 0:19:02.520 that is that the Ukraine is there saying, well, if 0:19:02.560 --> 0:19:05.199 you want us to reduce make commitments about what kind 0:19:05.240 --> 0:19:07.919 of weaponry will have, then we need security guarantees from 0:19:07.960 --> 0:19:11.119 other countries. And then immediately you start getting into what 0:19:11.400 --> 0:19:14.480 is newtralgy in that case. If you have security guarantees 0:19:14.480 --> 0:19:17.640 from other countries, all right, well, of course, continue monitoring 0:19:17.680 --> 0:19:20.879 the talks as they get underway and any readouts that 0:19:21.040 --> 0:19:24.440 come out from either side. Mark Champion, senior reporter for 0:19:24.520 --> 0:19:27.920 international affairs for Bloomberg News. As always, thanks for getting 0:19:28.000 --> 0:19:30.760 us the latest on what's happening in the war in Ukraine. 0:19:31.080 --> 0:19:34.200 Looking ahead to the market, Open futures are moving higher 0:19:34.240 --> 0:19:36.280 on this first day of the second quarter and ahead 0:19:36.320 --> 0:19:39.320 of the March jobs report. S and P futures up 0:19:39.400 --> 0:19:42.520 twenty two points. DAL future is up a hundred sixty six. 0:19:42.640 --> 0:19:46.399 NASTAC futures are higher by eighty four points. Looking at 0:19:46.400 --> 0:19:49.200 a flattening yield curve, with the ten year treasury down 0:19:49.480 --> 0:19:52.680 sixteen thirty seconds, the yield of two point three nine percent, 0:19:52.800 --> 0:19:55.399 the yield on the two year two point three seven 0:19:56.400 --> 0:19:58.360 Much more to come, including a look ahead to March 0:19:58.520 --> 0:20:01.880 jobs and Amazon pri ming for a union drive. Five 0:20:01.960 --> 0:20:03.960 things you need to notice start your day on Bloomberg 0:20:04.080 --> 0:20:10.280 day Break. Bloombergday Break brought to you by Ancient Accountants 0:20:10.280 --> 0:20:13.399 and advisers. Challenging times call for proactive advisors who help 0:20:13.440 --> 0:20:16.440 minimize taxes, increase cash flow, and create opportunities for the 0:20:16.560 --> 0:20:23.080 future of your business. Visit Ancient dot Com broadcasting live 0:20:23.280 --> 0:20:27.200 from the Bloomberg Interactive Broker Studio in New York. Bloomberg 0:20:27.240 --> 0:20:31.280 E Living Freedom to Washington, d C. Bloomberg to Boston, 0:20:31.400 --> 0:20:35.320 Bloomberg one oh six one to San Francisco, Bloomberg nine sixteen, 0:20:35.359 --> 0:20:38.560 to the country, Sirius XM Chado one nineteen and around 0:20:38.600 --> 0:20:42.160 the globe, the Bloomberg Business apt and Bloomberg Radio dot com. 0:20:42.560 --> 0:20:50.880 This is Bloomberg day Break six thirty on Wall Street. 0:20:50.880 --> 0:20:53.680 Good morning, I'm Nathan Hagar and I'm Karen Mostow. Just 0:20:53.800 --> 0:20:56.240 about three hours away from the open of US trading 0:20:56.320 --> 0:20:58.080 time for the five things you need to notice start 0:20:58.160 --> 0:21:01.320 your day. Brought to you by Interactive Brokers. Interactive Brokers 0:21:01.440 --> 0:21:04.119 charges margin loan rates from zero point eight three percent 0:21:04.240 --> 0:21:06.400 to one point eight three percent, rates subject to change. 0:21:06.640 --> 0:21:09.760 Learn more at ibk R dot com. Slash compare. First, 0:21:09.840 --> 0:21:12.240 the tables maybe turning in the war in Ukraine. Russia 0:21:12.280 --> 0:21:15.720 says to Ukrainian helicopters hit a Russian oil tank facility, 0:21:15.960 --> 0:21:18.920 and Ukraine said it's retaken territory in the Curson and 0:21:19.040 --> 0:21:22.480 Turnitive regions. President Biden said the war is not going 0:21:22.560 --> 0:21:26.000 well for Vladimir Putin. I'm not saying this with a certainty. 0:21:26.520 --> 0:21:30.240 He seems to be self isolated, and there's some indication 0:21:30.400 --> 0:21:34.240 that he has um fired or put under house arrest 0:21:34.320 --> 0:21:37.000 some of his advisors. Talks between Ukraine and Rush our 0:21:37.080 --> 0:21:39.680 set to resume by video today. Meantime, carring the White 0:21:39.720 --> 0:21:42.919 House decision to release US strategic oil reserves, has crewed 0:21:42.960 --> 0:21:45.720 on track for its biggest weekly loss in almost two years. 0:21:45.760 --> 0:21:49.359 It dropped seven percent yesterday. Right now West Texas Intermediates 0:21:49.400 --> 0:21:51.920 at a hundred dollars seven cents of barrel. It's the 0:21:52.000 --> 0:21:54.280 beginning of their second quarter, Nathan. More than three trillion 0:21:54.359 --> 0:21:56.560 dollars were erased room bond and equity values in the 0:21:56.640 --> 0:21:59.400 first quarter. The SNP five hunrey dropped four point nine 0:21:59.400 --> 0:22:02.040 percent this morning at S and P futures are up 0:22:02.119 --> 0:22:04.560