Speaker 1: Live from the Bloomberg Interacted Brooker Studios is Bloomberg day
Speaker 1: Break for Monday, June six. Coming up, the shower stocks
Speaker 1: rise around the world as we begin a new trading week.
Speaker 1: Oil gains is Saudi Arabia, Racist prices in Asia more
Speaker 1: than expected. President Biden takes executive action to boost the
Speaker 1: U S. Solar industry, and UK Prime Minister Boris Johnson
Speaker 1: faces that key leadership vote. It was a deadly weekend
Speaker 1: of shootings as U S Senators work on gun reform.
Speaker 1: Plus primary elections take place in seven states tomorrow, including
Speaker 1: New Jersey. I'm Michael barr More an I'm John stash
Speaker 1: Owen sports a late goal live to Tampa Bay over
Speaker 1: the Rangers. The Warriors beat the Celtics, wins for the
Speaker 1: Mets and Yankees. That's all trading ahead on Bloomberg Daybreak
Speaker 1: on Bloomberg eleven, Free on New York, Bloomberg one, Washington,
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Speaker 1: and US futures are higher this morning. It is five
Speaker 1: oh one on Wall Street and we check the markets
Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg, S
Speaker 1: and P futures have about forty seven points now. Futures
Speaker 1: have two D eighty one. NAZAC futures have one hundred
Speaker 1: and nine ten year treasury down seven thirty seconds, yield
Speaker 1: two point nine five percent, and a yield on the
Speaker 1: two year two point six eight percent. Nine X Screwed
Speaker 1: oil is up three tenths of a percent. Nathan, Wellkaren,
Speaker 1: we are seeing a lift in markets as we begin
Speaker 1: a new trading week, helping to boost a sentiment in
Speaker 1: Asia Beijing reopening further from its COVID restrictions. Let's get
Speaker 1: the recap from Bloomberg's Juliette Sally in Singapore. Good morning, Juliette,
Speaker 1: Good morning, Nathan and Koura and Japanese equities are raised
Speaker 1: earlier losses, and Texas rose in Hong Kong following the
Speaker 1: long weekend, this after a gauge of Chinese companies traded
Speaker 1: in the US had risen two percent of the two
Speaker 1: trading sessions that Hong Kong had been closed. Stocks in
Speaker 1: Maitland China advanced as Beijing eased back COVID nineteen restrictions,
Speaker 1: also lifting the on Choi one. Australian stocks fell, bucking
Speaker 1: the trend ahead of an expected second consecutive interest rate
Speaker 1: increased Tuesday, while Swiss Bank UBS said buying the Ozzie
Speaker 1: Dolla is a phenomenal trade in Singapore. Juliette Sally Bloomberg Daybreak,
Speaker 1: All right, Juliet, thank you all. Oil is also on
Speaker 1: the rise this morning, approaching a hundred twenty dollars of
Speaker 1: barrel Saudi Arabia signaling confidence and demand for oil. The
Speaker 1: Kingdom raised prices more than expected for Asian customers and
Speaker 1: again more from Bloomberg Markets Live editor Heather Burke, so
Speaker 1: Do Arabia signaled confidence with the demand um with the
Speaker 1: bigger than expected price increases, It's screwed for Asia and
Speaker 1: overall we're seeing improve in demand picture. Um, we're heading
Speaker 1: into peak summer driving season, and also in China, which
Speaker 1: is the top crude buyer. They um they continue to
Speaker 1: eat COVID restrictions. We should also help the demand side
Speaker 1: of oil and Bluebird Markets Live editor heatherir Burke says
Speaker 1: oil is rallied almost six this year. Checking prices right
Speaker 1: now and not make screwded oil at three tenths per
Speaker 1: center thirty three cents and a hundred nineteen twenty one
Speaker 1: cents of barrel Brent is up to tenths percent is
Speaker 1: in a hundred nineteen two cents. Well, oil has certainly
Speaker 1: been a major factor in the rise of inflation. Karen
Speaker 1: and now President Biden's Commerce chief Gina Romando says it
Speaker 1: may make sense to lift tariffs on some imported products
Speaker 1: to help ease higher prices steel and aluminum. We've decided
Speaker 1: to keep some of those tariffs because we need to
Speaker 1: protect American workers and we need to protect our our
Speaker 1: steel industry. That's a matter of national security. There are
Speaker 1: other products, um, you know, household goods, bicycles, et cetera. Uh,
Speaker 1: and it may make sense. Commerce Secretary Gena Mondo made
Speaker 1: the comments on CNN. Over the weekend, ball Street is
Speaker 1: racing for a key report on inflation. We get the
Speaker 1: story from Bloomberg's Vinnie Down Judas. The Labor Department will
Speaker 1: the shoe May's consumer price index on Friday. Economists say
Speaker 1: that you over your inflation rate will continue near historic
Speaker 1: levels topping eight percent. A major driver in May record
Speaker 1: petroleum costs in addition to the sustained run up another
Speaker 1: household stables. Also on this week's date agenda, University of
Speaker 1: Michigan figures and consumer sentiment. Sentiment has been running low
Speaker 1: as the quest of living runs high. Judas Bloomberg day break.
Speaker 1: All right, Vinney, thank you. We're getting a new word
Speaker 1: from Goldman Sachs at the u S economy remains on
Speaker 1: a narrow path to a soft landing. Let's get more
Speaker 1: on that life from Bloomberg's We need a young Good
Speaker 1: Morning Grin Good Morning, Nathan Goldman says improving inflation numbers
Speaker 1: and other factors suggest that the Fed may be able
Speaker 1: to pull off its aggressive rate hike plan without tipping
Speaker 1: the country into a recession. Goldman economists say sequential core
Speaker 1: inflation appears to be slowing, and pressures on the supply
Speaker 1: chain are improving and as signs of softening in the
Speaker 1: job markets emerge. But the econdomists say while the deterioration
Speaker 1: and indicators like the first quarters GDP contraction suggests near
Speaker 1: term recession risk risk has increased, other measures show output
Speaker 1: is still expanding. Live in New York. I'm gonna need
Speaker 1: a Young Bloomberg day break. All right, we need to
Speaker 1: thank you at least I have. Of a dozen central
Speaker 1: banks are expected to raise interest rates this week. Meanwhile,
Speaker 1: the European Central Bank is predicted to finally join the
Speaker 1: global tightening bandwagon, with policymakers on Thursday expected to announce
Speaker 1: an end to bond purchases and formally begin the countdown
Speaker 1: to an increase in borrowing costs in July. In Europe, Karen,
Speaker 1: the future of Boris Johnson is in focus as he
Speaker 1: faces a leadership vote in his ruling Conservative Party. Let's
Speaker 1: go live to London and get the very latest on
Speaker 1: that with Bloomberg's Ein Potts. Good morning, Good morning, Nathan
Speaker 1: and Karen. After months of speculation, at eight am outside
Speaker 1: the British House of Parliament, it was announced that the
Speaker 1: Prime Minister is the face of votes of confidence in
Speaker 1: his leadership. This off the fis of lawmakers from Boris
Speaker 1: Johnson's own Conservative party called for the votes. The pms
Speaker 1: be under five for a series of illegal gatherings at
Speaker 1: Downing Street during the COVID lockdowns. The votes on Johnson's
Speaker 1: future will conclude at eight pm London time, and he
Speaker 1: needs the support of at least half of lawmakers to
Speaker 1: keep his position in London. I'm your part Spoomberg Daybreak,
Speaker 1: Right you and thank you. Back here in the US,
Speaker 1: President Biden will take executive action to boost the U
Speaker 1: s solar industry. Bloomberg's Amy Morris has deta answermer newsroom
Speaker 1: in Washington. Sources tell Bloomberg News the President plans to
Speaker 1: invoke the Defense Production Act to provide support for US
Speaker 1: made solar panels, while announcing a two year hald on
Speaker 1: new solar tariffs now that would allow domestic developers to
Speaker 1: use the foreign equipment while US manufacturing ramps up. The
Speaker 1: White House is also set to use the federal government's
Speaker 1: purchasing power to help support American clean energy manufacturers. The
Speaker 1: announcement could come as early as today. In Washington, I'm
Speaker 1: Amy Morris, Bloomberg Daybreak, All right, Amy. Thanks. And finally,
Speaker 1: Starbucks is looking at external candidates only for its next CEO.
Speaker 1: That's according to interim chief executive Howard Schultz. He tells
Speaker 1: the Wall Street Journal the coffee chain needs to add
Speaker 1: new talented skills to its leadership ranks. Schultz is in
Speaker 1: his third stint running Starbucks, but he says he is
Speaker 1: not a candidate for the full time job. You're listening
Speaker 1: to Bloomberg Daybreak. It's sound five oh seven on Wall
Speaker 1: Street where at sixty four degrees in Central Parks. Still
Speaker 1: got some lingering road construction. He spound two eighty bags
Speaker 1: at seven and West Orange. We'll get the details on
Speaker 1: that for you in traffic shortly. Michael Barr is here
Speaker 1: first with war on what's going on in New York
Speaker 1: and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: A deadly weekend of shootings in the US and several
Speaker 1: states left about a dozen people dead. In Philadelphia, three
Speaker 1: people were killed and eleven wounded into shooting. Philadelphia Police
Speaker 1: Commissioner Danielle Outlaws says they are looking for the shooter
Speaker 1: who fled on foot. We're working with our local, state,
Speaker 1: and federal partners to make sure that no lead is
Speaker 1: lost and that no stone remains unturned. Commissioner outlaws as
Speaker 1: authorities are offering a twenty tho dollar reward for information
Speaker 1: leading to the arrest of the shooter. A shooting near
Speaker 1: a Chattanooga nightclub left three dead. Police say fourteen were
Speaker 1: shot and three others were hit by vehicles. Chattanooga Mayor
Speaker 1: Tim Kelly, I've been an avid hunter and a marksman
Speaker 1: all my life, and I want to say clearly a
Speaker 1: fully responsible I fully support rather responsible gun owner show.
Speaker 1: The Congress needs to do their jobs and past common
Speaker 1: sense regulations that will help stop this nonsense. Mayor Kelly
Speaker 1: implored parents to keep track of their children, especially if
Speaker 1: they are suspect to carrying a gun. Meanwhile, a bipartisan
Speaker 1: group of US Senators say gun talks are inching forward,
Speaker 1: though a deal is far from assured. Officials fear more
Speaker 1: than fifteen people were killed in southwestern Nigeria when gunman
Speaker 1: burst into a Catholic church during mass, opening fire and
Speaker 1: detonating explosives. So far, no one has claimed responsibility. Primary
Speaker 1: elections in New Jersey and six other states will take
Speaker 1: place tomorrow will set the stage for US House and
Speaker 1: send it battles this fall that will play into control
Speaker 1: of Congress. Many contests are being shaped by political divisions
Speaker 1: in both major parties and the shadow of former President
Speaker 1: Donald Trump. In New Jersey's GOP primary, Tom Malinowski one
Speaker 1: by fewer than two percentage points, and his district has
Speaker 1: become slightly more Republican since new congressional district lines were
Speaker 1: set last year. The US and South Korea launched eight
Speaker 1: missiles in response to North Korea. Yesterday at the North
Speaker 1: test fired eight missiles. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Take, powered by
Speaker 1: more than twenty seven hundred journalists antalists more than a
Speaker 1: hundred twenty countries. Michael Barrn this is Bloomberg, Nathan. Michael
Speaker 1: thanks five o nine on Wall Street time for the
Speaker 1: Bloomberg Sports Updated. Morney, John Sesshaw, every Morney. Nathan. Rangers
Speaker 1: fans probably not realistically expect that series sweep of Tampa
Speaker 1: bayl though id likely after their minds when the Rangers
Speaker 1: scored two power play goals in the second period and
Speaker 1: led Game three to not think, but the Lightning came
Speaker 1: back two power play goals of their own and then
Speaker 1: in the final minute, the first and only five on
Speaker 1: five goal of the game, shoot save me if by
Speaker 1: the circuit rebound the turnack right point left point head
Speaker 1: been Class A speed plot FO one w f l
Speaker 1: A and Tampa Lightning won three two. Rangers now lead
Speaker 1: the series to one game four s Game two of
Speaker 1: the NBA Finals, Warriors dominated the third quarter. That was
Speaker 1: the difference. They beat the Celtics one oh seven eighty
Speaker 1: eight type of series and one. Quince Snyder resigned after
Speaker 1: eight years as the coach of the Utah Jazz Mets.
Speaker 1: In l A trail. The early scored three rounds of
Speaker 1: the eighth anywhere one out from victory bottom of the
Speaker 1: ninth with the Dodgers tied the game, Mets still won
Speaker 1: five for and ten, so they gained a split of
Speaker 1: the four game set. After they dropped the first two.
Speaker 1: They played tonight in San Diego. Yankees are off they liked.
Speaker 1: The Mets also won five four tennantings after Detroit tied
Speaker 1: the game of the eighth of John Donaldson Zack flying
Speaker 1: the tenth, and the Yanks sweep the x game homestand
Speaker 1: a third of the way through the season. Yankees are
Speaker 1: thirty nine and fifteen. It's the best record any MLB
Speaker 1: team has had at this point in the last twenty
Speaker 1: one years. Make it fourteen French Open titles. Paraphi on
Speaker 1: the Douts went the two Grand Slams. That's two more
Speaker 1: than Roger Federer and go Back Tokovich. Billy Orsol won
Speaker 1: the Memorial Galpin Ohio by four shots. John Stashoward Bloomberg
Speaker 1: Sport okay, John, thanks so. After ending last week with losses,
Speaker 1: futures are pointing two gains as we kick off a
Speaker 1: new trading week dominated by inflation ratings. Right now, SMP
Speaker 1: futures are up forty five point, Stown futures up two
Speaker 1: hundred seventy two, NASTACK futures are higher by a hundred
Speaker 1: eighty five points. The tenure treasury is down six thirty seconds.
Speaker 1: The yield two point nine five percent. You'ld on the
Speaker 1: two year two point six eight nime X Scrude is
Speaker 1: hired by three tenths per cent, forty two cents hired
Speaker 1: a hundred nineteen dollars twenty six cents a barrel, and
Speaker 1: come X gold is up two tenths percent At eighteen
Speaker 1: fifty four. Ten announced we'll get you set for the
Speaker 1: new trading week. Next Dennis Gartman, the former publisher of
Speaker 1: the Gartman Letter, is with us in just a few minutes.
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather. Lots of
Speaker 1: sunshine today with a high near eighty degrees upper seventies
Speaker 1: and partly sunny Tomorrow. Showers and storms likely Wednesday with
Speaker 1: highs in the upper seventies. Right now sixty four degrees
Speaker 1: in Central Park. Markets. Headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot com, the Bloomberg Business
Speaker 1: at and at Bloomberg Quick Tape. She's a Bloomberg business
Speaker 1: flash and I'm pared. Moscow Stocks in Europe are gaining
Speaker 1: along with US stock index futures as Beijing further eases
Speaker 1: COVID restrictions, helping to soothe a fragile mood of bit
Speaker 1: inflation and rate high concerns, treasuries and the dollars slipping.
Speaker 1: We checked the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg S and P futures of forty five
Speaker 1: points to death features of two hundred seventy five nast
Speaker 1: day features of one hundred seventies seven the decks in
Speaker 1: Germany's of one percent ten year treasury down seven thirty
Speaker 1: seconds held two point nine five percent. They yield on
Speaker 1: the two year two point six eight percent. Nimex screwed
Speaker 1: oils at three ten percent or forty one cents and
Speaker 1: a hundred nineteen dollars twenty nine cents a barrel. Comics
Speaker 1: goold of a quarter percent or four dollars seventy cents
Speaker 1: at eighteen fifty four and ninety announce the euro one
Speaker 1: point oh seven for eight against the dollar, British pound
Speaker 1: one point to five seven one and the yen one
Speaker 1: thirty point seven three and Bitcoin this morning of five
Speaker 1: percent at thirty one thou four hundred dollars. That's a
Speaker 1: Bloomberg business flash. Now here's Michael Barr with Moore on
Speaker 1: what's going on around the world. Buncle, good morning, Good morning, Cameron.
Speaker 1: Boris Johnson could be housked it as Britain's Prime Minister.
Speaker 1: He's facing an old confidence vote in his Conservative party
Speaker 1: after he had rule breaking parties during the COVID lockdown.
Speaker 1: Lawmakers in Washington say they're more hopeful than ever that
Speaker 1: bipartisan negotiations on gun reform will finally get somewhere. Meanwhile,
Speaker 1: there were several mash shootings over the weekend. The Warriors
Speaker 1: even the NBA Finals in a game of peace after
Speaker 1: beating the Celtics in Game three of the NHL East Final.
Speaker 1: The Rangers lost to the Lightning three too. In baseball,
Speaker 1: the Yankees and Mets one, the Red Sox beat the A's,
Speaker 1: the Orioles lost the Nationals and Giants. One. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven hundred journalists
Speaker 1: and analysts, are more than a hundred twenty countries. Michael
Speaker 1: Barr And this is Bloomberg. Nathan, Okay, Michael. Thanks, It's
Speaker 1: five nineteen on Wall Street Live from the Bloomberg Interactive
Speaker 1: Brokers Studios. This is Bloomberg Daybreak. As we get ready
Speaker 1: to kick off another trading week. We are joined this
Speaker 1: morning for the hour by Dennis Gartman, chairman of the
Speaker 1: University of acron Endowman Investment Committee, former publisher of the
Speaker 1: Gartment Letter. Dennis, it's always great to speak with you.
Speaker 1: We are seeing a rally for equities around the world
Speaker 1: on China, dialing back some of its COVID restrictions. Does
Speaker 1: that give you confidence in this market? Not particularly. I mean,
Speaker 1: we are seeing some strength this morning. It's it's it's
Speaker 1: the surprising to me, to be quite honest, and for
Speaker 1: the first time in quite some period of time for
Speaker 1: my own account, I actually went marginally and I mean
Speaker 1: marginally net short on Friday. We'll see if that works
Speaker 1: right now. I'm behind just a tad and I mean
Speaker 1: just a tad and predicated upon the fact that China
Speaker 1: is in fact, uh, reducing its restrictions, which is long overdue.
Speaker 1: They should have done this quite some period of time ago.
Speaker 1: So you're you're getting a rebound in stock prices around
Speaker 1: the world predicated upon Chinese easing their restrictions. I think
Speaker 1: it's a little overdone. We'll see right now. As I said,
Speaker 1: I'm marginally net short, and I mean marginally, so so
Speaker 1: let's let's see how that works. What makes you think
Speaker 1: that it's overdone at this point? I mean, isn't that
Speaker 1: the idea that China could be dialing back restrictions could
Speaker 1: have some implications for the supply chain down the road. Well,
Speaker 1: let's hope, uh, And obviously if I'm wrong that that
Speaker 1: will be the reason why I'm wrong, Uh, there's clearly
Speaker 1: the supply chain is doing a little bit better. To
Speaker 1: look at the number of tankers that are in ships
Speaker 1: that are outside the long Beach here in southern Regina,
Speaker 1: the number of ships that are outside our our harbor
Speaker 1: have been reduced. So the supply chain is. The problems
Speaker 1: in coming in the supply chain that have been so
Speaker 1: pervasive over the course of the past six seven, eight, nine,
Speaker 1: ten months, a year and a half or so are
Speaker 1: are being alleviated. And let us hope that and I
Speaker 1: would hope that the lifting of restrictions in China would
Speaker 1: be uh long term amenable to economic activity. We'll see.
Speaker 1: Time shall tell, But as I said, I'm marginally that
Speaker 1: shortened right now. I'm I'm to be quite honest, I'm
Speaker 1: wrong for the day, all right. Well, we also got
Speaker 1: some insight from Goldman Sacks strategist saying that they see
Speaker 1: a narrow path for the FED to avoid a recession,
Speaker 1: but while raising interest rates the narrow path for a
Speaker 1: soft landing. What's your view on the impact of FED
Speaker 1: tightening on this economy going forward. I think that's portant
Speaker 1: to understand that we're gonna have at least three fifty
Speaker 1: basis point increases. Um, the president of the Cleveland FAD,
Speaker 1: who has been one of the most bariosh members of
Speaker 1: the voting members of the f MC, said that she
Speaker 1: expects to see fifty basis points through the September meeting. Uh,
Speaker 1: we're there there. It's clear that they're tightening. But I
Speaker 1: think what's far more raising the overnight said funds rate
Speaker 1: is what they do to the balance sheet. We'll see
Speaker 1: what On Friday. I think we get a report on
Speaker 1: the size of the Fed's balance sheet. Again, we'll see
Speaker 1: if they're allowing the balance sheet to run off. They
Speaker 1: need to. The fact that they've taken the over the
Speaker 1: balance sheet from what nine billion to nine trillion in
Speaker 1: the course of the decade, that's to me, is far
Speaker 1: more important than than than the level of interest rates
Speaker 1: of the overnight said funds rate. We'll see if they're
Speaker 1: allowing the the the balance sheet to run off. Hopefully
Speaker 1: they are. They've got years that they have to accomplish
Speaker 1: this task, and it's going to take a long period
Speaker 1: of time. They're taking money out of the system that
Speaker 1: had been flooding in the system for the past decade.
Speaker 1: I think I think that's the major reason why stock
Speaker 1: prices have been as strong as they have been for
Speaker 1: the past several years. And the fact that they're taking
Speaker 1: that fuel away, to me, is barious in the long
Speaker 1: run for the for the stock market. So we'll see.
Speaker 1: Time shall tell. So where are you looking for bond
Speaker 1: fields to go? As the FED does start to unwind
Speaker 1: the balance sheet, probably marginally higher. We might get the
Speaker 1: ten year, which is what now on the ten year,
Speaker 1: We might go to three fifty over the course of
Speaker 1: the next two years or so. I doubt that we'll
Speaker 1: go much beyond that. I think what's really more important
Speaker 1: is what happens to the to the very short end
Speaker 1: of the curve. We actually have fives above tens for
Speaker 1: the first time. They're basically a parody. But the five
Speaker 1: year for a couple of hours on Friday traded through
Speaker 1: the ten year. We'll see if that inversion continues. Everybody's
Speaker 1: watching twos versus tens. I watched five versus tens, and
Speaker 1: the fact that the curve is inverted the tad is
Speaker 1: to me that's important. Inverted heel curves are never beneficial,
Speaker 1: always detrimental, always harbingers of recession, and I think that
Speaker 1: we're going to get a a modest recession. I think
Speaker 1: we're actually going to be in it by the third
Speaker 1: quarter of this year. So we'll see time she'll tell again,
Speaker 1: all right, Dennis Gartman with us for the full hour
Speaker 1: here on Bloomberg Daybreak. We're gonna get more oots from Dennis,
Speaker 1: especially on the path for inflation, uh as we look
Speaker 1: ahead to the release of the May Consumer Price Index
Speaker 1: coming out later on this week, actually on Friday, and
Speaker 1: what that could mean potentially for federal reserve policy. So
Speaker 1: looking forward to checking back in with Dennis Gartman, former
Speaker 1: publisher of the Gartment Letter, now the chairman of the
Speaker 1: University of Akron Endowment Investment Committee. As Bloomberg Daybreak continues
Speaker 1: here on this Monday morning, where we're seeing futures on
Speaker 1: the rise on China dialing back some of those COVID restrictions.
Speaker 1: We have SMP futures right now up forty four points
Speaker 1: again at one point one percent down futures up two
Speaker 1: seventy one NASDAC futures leading the games this morning. They're
Speaker 1: hired by a hundred seventy eight points. That is a
Speaker 1: gain of one point four percent right now. The tenure.
Speaker 1: Treasury is down seven thirty seconds, the yield two point
Speaker 1: nine six percent and the yield on the two year
Speaker 1: two point six eight percent. Just ahead, the Biden administration
Speaker 1: opens the door to lifting some tariffs and more on
Speaker 1: Goldman Sex idea of a narrow path to a soft landing.
Speaker 1: Top stories of the morning. Just ahead on Bloomberg Daybreak,
Speaker 1: Blomberg eleven three oh weather. Lots of sunshine to start
Speaker 1: off the week with a high near eighty degrees that
Speaker 1: will be partly sunny, upper seventies Tomorrow. Showers and storms
Speaker 1: likely by Wednesday, with highs in the upper seventies. Currently
Speaker 1: sixty four in Central Park. Broadcasting live from the Bloomberg
Speaker 1: Interactive Broker's studio in New York. Bloomberg E living free
Speaker 1: on to Washington, d C, Bloomberg ninety nine one to Boston,
Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine
Speaker 1: six to the Country, Sirius XM too one nine T
Speaker 1: and around the globe the Bloomberg Business Act. In Bloomberg
Speaker 1: Radio dot Com. This is Bloomberg Daybreak is five thirty
Speaker 1: on Wall Street. Good Morning. I'm Nathan Hager, and I'm Karen, Moscow.
Speaker 1: We're just about four hours away from the open of
Speaker 1: view West Trading. Let's get you up to date of
Speaker 1: the news you need to know. At this hour, we're
Speaker 1: seeing a lift in markets to begin a new trading week,
Speaker 1: with a boost from Asia. Beijing is reopening further from
Speaker 1: its COVID restrictions, raising stocks, and China Japanese equities are
Speaker 1: raised earlier losses and tex shares rose in Hong Kong.
Speaker 1: We're also watching oil rise this morning, Karen, Hovering around
Speaker 1: a hundred twenty dollars of barrel as Saudi Arabia signals
Speaker 1: confidence in demand for oil. Checking prices now, West Texas Intermediate,
Speaker 1: it's up four tenths per cent, or fifty one cents
Speaker 1: at a hundred nineteen dollars thirty eight cents of barrel.
Speaker 1: Brent is up four tenths per cent at a hundred
Speaker 1: one Alterning to Washington Now, President Biden's Commerce chief of
Speaker 1: Gina Ramando says the administration is not willing to lift
Speaker 1: all tariffs on imported steel and aluminum right now. We've
Speaker 1: decided to keep some of those tariffs because we need
Speaker 1: to protect American workers and we need to protect our
Speaker 1: steel industry. That's a matter of national security. Commerce Secretary
Speaker 1: Gina Ramando told CNN over the weekend that lifting tariffs
Speaker 1: on other household goods may make sense to help ease
Speaker 1: rising prices. Was the Fed aims to ease price hikes?
Speaker 1: Karen Goldman Sachs says the US economy remains on a
Speaker 1: narrow path to a soft landing. Let's get more on
Speaker 1: that live from Bloomberg's We Need a Young. Good Morning, Nita,
Speaker 1: Good morning. Nathan. Goldman says improving inflation numbers and other
Speaker 1: factors suggests that the Fed may be able to pull
Speaker 1: off its aggressive rate hike plan without tipping the country
Speaker 1: into a recession. Economists there say sequential core inflation appears
Speaker 1: to be slowing and supply chain pressures are improving. While
Speaker 1: the deterioration and indicators like the first quarters GDP suggests
Speaker 1: near term recession risk has increased, Goldman says other measures
Speaker 1: show output is still expanding. Live in New York. I'm
Speaker 1: Renita Young Bloomberg Daybreak. I re need to thank you
Speaker 1: for at least a half a dozen central banks are
Speaker 1: expected to raise interest rates this week, and the European
Speaker 1: Central Bank is expected to announce an end to bond
Speaker 1: purchases and formally begin the countdown to an increase in
Speaker 1: borrowing costs in July, saying in Europe, Karen Boris Johnson
Speaker 1: faces a leadership vote today and his ruling Conservative party
Speaker 1: that could remove him from office. It's unclear if there
Speaker 1: is enough support though, to unseat the UK's Prime minister,
Speaker 1: and futures are higher this morning. S and P futures
Speaker 1: up forty two points down futures of two hundred fifty
Speaker 1: eight NASDACK futures of one hundred seventy three ten year
Speaker 1: treasury down six thirties seconds yield two point nine five percent.
Speaker 1: They yield on the two year two point six eight percent.
Speaker 1: Nine mag Screwed oil is up four tenths percent at
Speaker 1: a hundred nineteen dollars thirty nine cents a barrel. Sure
Speaker 1: to had your latest local headlines plus a check of
Speaker 1: sports and this is Bloomberg. Thanks three on Wall Street,
Speaker 1: sixty four degrees in Central Park, gotta crash in the
Speaker 1: northbound van wake by Jamaica Avenue and Michael Barr has
Speaker 1: more on what's going on in New York and around
Speaker 1: the world. Michael, thank you very much. Nathan, and has
Speaker 1: been a weekend of shootings in several states that have
Speaker 1: left about a dozen people dead. One shooting in Philadelphia
Speaker 1: left three dead and another elevant injured. Philadelphia Police Commissioner
Speaker 1: Daniel Outlaw he's ensi us have an exponential effect on
Speaker 1: our community, and it not only impacts the individual that's
Speaker 1: been directly victimized, but it victimizes their loved ones, their families,
Speaker 1: and their neighbors neighborhoods all over the world. Commission Or
Speaker 1: outlaws as the suspect fled on foot. Meanwhile, there are
Speaker 1: some reports that US Senators are inching towards some kind
Speaker 1: of compromise and movement on gun safety, Bloomberg said. Baxter
Speaker 1: reports a bipartisan group is working in Republican Pat Toomey
Speaker 1: says background checks are on the table, at least for
Speaker 1: commercial sales of firearms. There ought to be a background check,
Speaker 1: so sales at gun shows, sales that are advertised over
Speaker 1: the internet. To me has been working with Democrat Joe
Speaker 1: Manchin for years on this, and Toomey on CBS has
Speaker 1: heard here on Bloomberg says, the outcome of these talks
Speaker 1: is still uncertain. We are still trying to figure out
Speaker 1: exactly what mechanism is going to enable us to get
Speaker 1: the boats that we would need. But he says closer
Speaker 1: this time in San Francisco. I'm at Baxter Bloomberg Gabrae.
Speaker 1: Primary elections in New Jersey and six other states tomorrow
Speaker 1: will set the stage for US House and Senate battles
Speaker 1: this fall. In New Jersey's GOP primary, Tom Malakowski one
Speaker 1: by fewer than two percentage points in his district, has
Speaker 1: become slightly more Republicans since new congressional district lines were
Speaker 1: said last year. After North Korea test fired eight short
Speaker 1: range ballistic missiles Sunday, the US launched a joint exercise
Speaker 1: with South Korea and Japan to demonstrate their ability to
Speaker 1: quickly respond. Today, the US military conducted what it called
Speaker 1: a ballistic missile defense exercise, also firing eight missiles into
Speaker 1: the Sea of Japan. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Tank, powered by
Speaker 1: more than twenty seven journalists analysts more than twenty countries.
Speaker 1: Michael bar this is Bloomberg, Nathan. Thank you. Michael. On
Speaker 1: Wall Street, Time for the Bloomberg Sports Update with John
Speaker 1: Sasha all Right. Nathan Rangers went to Tampa Bay having
Speaker 1: won their last four playoff games six and the last seven,
Speaker 1: and they had a lead in Game three. He had
Speaker 1: another power play goal from Macon's Avanta Jaen. Shortly after that,
Speaker 1: Chris Kryler, with a man advantage, put in the rebound
Speaker 1: of his advantage as shop. But Tampa Bay got power
Speaker 1: play goals from the Keith to Kudrow second period Stephen
Speaker 1: stamp Coast in the third. The Lightning dominated the third period,
Speaker 1: big edge in shots on goal, and they won three
Speaker 1: to two on an Andre Polott goal of a nifty
Speaker 1: pass from Kuptrop only forty two seconds remaining. Rangers still
Speaker 1: made the series to one game four tomorrow. NBA Finals
Speaker 1: now tied at one. Golden State Pe Boston one oh
Speaker 1: seven to eighty eight outscore the Celtics of the third
Speaker 1: quarter thirty five at four teen. Yankees going for a
Speaker 1: sweep of the home stand back and fourth game with
Speaker 1: the Tigers for four tenth any and swung on their
Speaker 1: goals deep wet field. That's gonna win the game. Harold
Speaker 1: Task go back and he made the catch on the
Speaker 1: warning track, tagging his judge. He's scores full game over.
Speaker 1: Yankees win an They've been doing a lot of that.
Speaker 1: A Yankee record of thirty night and fifteen a third
Speaker 1: of the way through the season. That's the best in
Speaker 1: baseball since two thousand one. Mets also won five four
Speaker 1: also intendating defter the Dodgers tied the game with two
Speaker 1: in the bottom of the night thought Seth Lugo a J. D.
Speaker 1: Davis double in the Tanta Let's get a split of
Speaker 1: the four game series, and I have moved down to
Speaker 1: San Diego now. When Pete Sampras retired from tennis, not
Speaker 1: that long ago, he had the record for most Grand
Speaker 1: Slams one with fourteen. Raphael and Dallas won fourteen French
Speaker 1: Open twenty two slams straight sets to the final in Paris.
Speaker 1: Billie Orshl won Memorial golfin Ohio by four shots. John
Speaker 1: stash Ellard Bloomberg Sports, Thank you John. It's thirty seven
Speaker 1: on Wall Street time for the tri State Business Report
Speaker 1: with bloombergs ed Cory. According to Triple A, the average
Speaker 1: price for a gallon of gas in New York State
Speaker 1: is currently four dollars and eight cents a gallon. That's
Speaker 1: down five cents from last week thanks to the suspension
Speaker 1: of certain gas taxes. Last Wednesday, Hudson Piers on Yonker's
Speaker 1: Waterfront could see its first residence with in two years.
Speaker 1: Six buildings of four hundred departments in about forty thousands
Speaker 1: of square feet of retail will fill in one of
Speaker 1: the last gaps in the Yonkers skyline along the Hudson.
Speaker 1: Construction began last month and the first two buildings as
Speaker 1: part of Extel's five hundred eighty five million dollar development
Speaker 1: offering list price for a home in some New Jersey communities.
Speaker 1: Isn't enough homes in New Jersey in April, We're selling
Speaker 1: statewide for one hundred four percent of asking price. According
Speaker 1: to the most recent data from New Jersey realtors, in
Speaker 1: April of twenty one, they were selling for one hundred
Speaker 1: one percent of list price. In April twenty it was
Speaker 1: eight percent. At your Bloomberg Try State Business Report, I'm
Speaker 1: in Corey. Thank you edits on Wall Street. Bloomberg Radio
Speaker 1: is on the air from San Francisco to New York,
Speaker 1: London to Hong Kong. Let's check in with our global
Speaker 1: news team for some of the top stories heard on
Speaker 1: our three hundred affiliate radio stations around the world's Steve
Speaker 1: Potas content ten Wins in New York, where about Goldman
Speaker 1: Sachs economists spatting the economy could avoid a recession. On
Speaker 1: the Cornetana how on ktr H in Houston, Americans are
Speaker 1: worse to personnel than they were before the pandemic. Trying
Speaker 1: Jinas Servetti in for double the BBM in Chicago. I'm
Speaker 1: talking about a published report saying that one of grub
Speaker 1: Hub's co founders was looking at buying back the Chicago
Speaker 1: based food delivery company from Just Eat Takeaway. I'm Stephen
Speaker 1: Carol on Bloomberg d a B Digital Radio in London.
Speaker 1: We're reporting on the leadership challenge facing Boris Johnson. Conservative
Speaker 1: vampes will vote Laser in a move which could topple
Speaker 1: the Prime Minister. I'm Ed Corey on t AM in Cleveland.
Speaker 1: I'm reporting signs and lighting for a new Shirtwin Williams
Speaker 1: headquarters in downtown Cleveland have been approved and those are
Speaker 1: some of the stories are twenty seven hundred Bloomberg journalists
Speaker 1: and analysts are working on this morning around the world.
Speaker 1: It's five thirty nine on Wall Street. The following is
Speaker 1: an editorial from Bloomberg Opinion. Euro Area inflation searched to
Speaker 1: eight point one percent in the year to May, once
Speaker 1: again higher than expected. But despite signs that inflation is
Speaker 1: getting entrenched, the European Central Bank has chosen to stand pat.
Speaker 1: It hasn't yet raised its policy interest rate, which stands
Speaker 1: at minus zero point five percent, and its signaling suggests
Speaker 1: the first increase will be just a quarter of a point,
Speaker 1: coming in the latter half of July. With inflation above
Speaker 1: eight percent, a policy rate that's less than zero in
Speaker 1: nominal terms maintains an extraordinarily reckless level of extra demand.
Speaker 1: Too much stimulus applied for too long adds to the
Speaker 1: danger of a violent correction later. The ECB's caution until
Speaker 1: now has been understandable, but the balance of risk has shifted.
Speaker 1: The Central Bank should start a deliberate effort to normalize policy,
Speaker 1: beginning with an increase of fifty basis points this week,
Speaker 1: not next month. This editorial was written by the Bloomberg
Speaker 1: Opinion Editorial Board. I'm David Shipley. For more Bloomberg Opinion,
Speaker 1: please go to Bloomberg dot com, slash Opinion or opang
Speaker 1: on the Bloomberg terminal this has been Bloomberg Opinion. You
Speaker 1: can hear Bloomberg opinion editorials every weekday at this time.
Speaker 1: Terminal customers can read more at O P I N go.
Speaker 1: Right now, SMP futures are higher by thirty eight points.
Speaker 1: Stuff futures up two, NASTACT futures up a hundred fifty
Speaker 1: seven points. Tang your treasury yield two. This is Bloomberg
Speaker 1: Bloomberg eleven three oh weather. Sunshine to start the week.
Speaker 1: High your eighty degrees today, partly sunny, upper seventies Tomorrow,
Speaker 1: some showers and storms for Wednesday, with highs in the
Speaker 1: upper seventies. Currently sixty four degrees in Central Park markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg
Speaker 1: Quick Tape. He's a Bloomberg Business Flash and I'm Karen Moscow.
Speaker 1: This update brought to you by Informatica. In the Cloud,
Speaker 1: your data has the power to do the extraordinary. Managed
Speaker 1: data cross any location in the cloud for accurate and
Speaker 1: actionable insights. More in Informatica dot Com. Stocks in Europe
Speaker 1: are gaining along with US stock index futures as Beijing
Speaker 1: further eases COVID restrictions. Check the markets every fifteen minutes
Speaker 1: throughout the trading day. On Bloomberg s and P Future
Speaker 1: is up thirty nine points. Now Future is up two
Speaker 1: hundred thirty seven and NASDAG futures have a hundred fifty
Speaker 1: seven The decks in Germany's up nine tenths of upper cent.
Speaker 1: Ten year treasury down six thirties seconds, held two point
Speaker 1: nine five percent yield on the two year two point
Speaker 1: six seven percent. Comex screwed oil is up seven tenths
Speaker 1: per cent or eighty four cents at a hundred nineteen
Speaker 1: dollars seventy two cents a barrel. Comex fold up three
Speaker 1: tenths per cent or five dollars twenty cents at eighteen
Speaker 1: fifty five fifty announced. The euro one point oh seven
Speaker 1: four three against the dollar, British found one point to
Speaker 1: five six one and again one thirty point six nine.
Speaker 1: Bitcoin this morning is higher, up almost five percent at
Speaker 1: thirty one thousand, three hundred ninety dollars as of Bloomberg
Speaker 1: Business Flash. Now Here's Michael Barr with more on what's
Speaker 1: going on around the world. Michael Karen, thank you very
Speaker 1: much it possible to earning point on gun control. After
Speaker 1: a weekend of mass shootings, US lawmakers say they're more
Speaker 1: hopeful than ever that bipartisan negotiations will finally get somewhere.
Speaker 1: Boris Johnson could be housked to deny it. As Britain
Speaker 1: sprime Minister, he's facing an ok confidence vote in his
Speaker 1: Conservative party after revelations he broke COVID lockdown rules. The
Speaker 1: Warriors even the NBA Finals at the Game of Peace.
Speaker 1: After beating the Celtics in Game three of the NHL
Speaker 1: East Final, the Rangeers lost to the Lightning three too.
Speaker 1: In baseball, the Yankees and Mets one. The Red Sox
Speaker 1: beat the A's, the Orioles lost, the Nationals and Giants won.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven
Speaker 1: hundred journalists and analyists more than a hundred twenty countries.
Speaker 1: I'm Michael Bart. This is Bloomberg. Nathan Okay, Michael, thank you.
Speaker 1: It's just about five forty nine on Wall Street Live
Speaker 1: from the Bloomberg Interactor Broker Studios. This is Bloomberg Daybreak
Speaker 1: and Dennis Gartman is back with us now chairman of
Speaker 1: the University of acron Endowment Investment Committee and former publisher
Speaker 1: of the Gartment letter Dennet's. When we spoke the last
Speaker 1: half hour, you said that you feel that the gains
Speaker 1: we're seeing inequities this morning may be overdone for those
Speaker 1: listeners who may have just joined us. Can you explain why. Well,
Speaker 1: I think that we've seen a good from the lows.
Speaker 1: A couple of weeks ago we had I hate to
Speaker 1: bring up a rival, but the CNN Fair and Green
Speaker 1: Index got to six, which historically you get a bounce
Speaker 1: from from the markets. When when you get that egregiously
Speaker 1: oversold and we're just bouncing, I think this is a
Speaker 1: bear market. I think the bear market began January five
Speaker 1: this year. Uh, and I think that market's going to
Speaker 1: last for question a period of time. I think we're
Speaker 1: just getting a nice bear market bounce and nothing more
Speaker 1: than that. Perhaps I'm a bit early. Uh well, we'll see.
Speaker 1: Time shall tell. But as I said earlier this morning,
Speaker 1: I went marginally net short from my own account on Friday,
Speaker 1: and I mean just three or four percent of my position.
Speaker 1: So that's that's a marginal position to be taken at
Speaker 1: this point, but I think it's just a regular come
Speaker 1: as you are bear market bounced, nothing more than then,
Speaker 1: and I don't think it's very long. We'll see. Time
Speaker 1: shall tell. We have more inflation data coming out later
Speaker 1: on this week. The Consumer Price Index for the month
Speaker 1: of May is due out on Friday. What is your
Speaker 1: expectation there? Could we see signs of peak inflation in
Speaker 1: that print? It is very possible. Take a look at
Speaker 1: what's going on in the grain markets. The grains has
Speaker 1: been very bullish going from the lower left to the
Speaker 1: upper right, because of delayed and delayed planting prospects and
Speaker 1: because of the problems incumbent with the inability to get
Speaker 1: the grain out of Ukraine and out of Russia. But
Speaker 1: I think what we're seeing that the grain market has
Speaker 1: turned from being overly bullish to being manifestly barished at
Speaker 1: this point. The crops are getting here, being put on
Speaker 1: the ground relatively quickly here in the United States, and
Speaker 1: are growing very well. Same same circumstance in Canada. So
Speaker 1: I think we're seeing a turnaround in the grain markets.
Speaker 1: Gold doesn't seem to want to rally much anymore. I'm
Speaker 1: still bullish of the gold market, but it does put
Speaker 1: together much of a sustained rally, and we'll see today
Speaker 1: is going to be I think a very important day
Speaker 1: in crude oil because we traded the the nearby futures
Speaker 1: w T I above one twenty were just barely holding
Speaker 1: above one twenty right now, And if crude oil were
Speaker 1: to close lower on the day to day, that would
Speaker 1: be very interesting to me. I think it would be
Speaker 1: a telltale sign that perhaps perhaps the operative word here
Speaker 1: is perhaps inflation. We made the worst numbers in inflation
Speaker 1: for for a period of time. Time shall tell. We'll see,
Speaker 1: but keep them to keep an eye today on what
Speaker 1: goes on in the crude oil market. But the grain
Speaker 1: markets have turned from being manifestly bullish to being I
Speaker 1: think overtly bearish, and even live stock prices have turned down,
Speaker 1: So keep an eye on those things. I think inflation
Speaker 1: inflationary problems are probably let's let's hope our well behind us.
Speaker 1: In our last half hour, you mentioned that you think
Speaker 1: the FED is going to continue with fifty basis point
Speaker 1: great hikes at least the next three meetings. If we
Speaker 1: do start to see some moderation in commodities prices, does
Speaker 1: that affect the Fed's path. In the months to come,
Speaker 1: we'll see they're still gonna there's still a group within
Speaker 1: the FOMC that believes in the transitory nature of inflation.
Speaker 1: We'll see if that. But right now, given us act
Speaker 1: that Miss Smiths are the the the president of the
Speaker 1: Cleveland head announced on Friday that she sees at least
Speaker 1: three more raises of the overnight said funds rate by
Speaker 1: fifty basis points each. I think that that's the telltale
Speaker 1: sign we're going to take the overnight said funds rate
Speaker 1: another hundred fifty points higher before they have a rethink
Speaker 1: of that circumstances. Keep an eye on what goes on
Speaker 1: on the balance sheet. To me, that's more important than
Speaker 1: the overnight said funds rate, and we'll get an idea
Speaker 1: what the what the FED is doing to the balance
Speaker 1: sheet when they report that number on Friday afternoon. Just
Speaker 1: about thirty seconds left here, Dennis, what's your read on
Speaker 1: whether the FED can pull off a soft landing Goldman
Speaker 1: Sachs as it sees a narrow path. I think Golden
Speaker 1: Sacks is wiser than I am. The FED has had
Speaker 1: a problem in the past trying to land an air
Speaker 1: the aircraft carrier, land, the the the the economy on
Speaker 1: the aircraft carrier of economic circumstances, getting a getting a
Speaker 1: soft landing is always difficult. I have my doubts as
Speaker 1: store be accomplished. As always, Dennis grates to have you
Speaker 1: on with us. Thanks for being here. Dennis Gartman, the
Speaker 1: former publisher of the Gartment Letter, now the chairman of
Speaker 1: the University of Acrid Endowment Investment Committee. Karen Ray Nathan,
Speaker 1: thank you at five three on Wall Street time for
Speaker 1: the Bloomberg Law Report, brought to you by American Arbitration Association.
Speaker 1: Business disputes are inevitable, resolve faster with the American Arbitration Association,
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Speaker 1: More at a d R dot org. We get to
Speaker 1: the illegal stories we're watching this morning from Bloomberg's Jeff Bellinger.
Speaker 1: The e p A sent limits on the amount of
Speaker 1: five solvents that workers can inhale before they start facing
Speaker 1: health risks to federal appeals courts rule that irks You're
Speaker 1: half away. Nationwide mutual and Greater New York insurance companies
Speaker 1: do not have to cover businesses pandemic related losses because
Speaker 1: there was no property damage. The Occupational Safety and Health
Speaker 1: Administration is proposing more than half a million dollars in
Speaker 1: combining penalties against Dollar General. OSHA says inspectors found blocked
Speaker 1: exits at stores in Ohio and was Wisconsin. Bloomberg Law
Speaker 1: everything you need, all on one legal research platform, including
Speaker 1: guidance analysis and Bloomberg Market Intelligence. Find out more at
Speaker 1: Bloomberg Law dot com. All right, Jeff, thank you. Now
Speaker 1: another legal story we're watching. The Supreme Court is heading
Speaker 1: into the home stretch of the term with more than
Speaker 1: half of its work incomplete and blockbuster opinions on abortion
Speaker 1: and gun rights coming, as well as decisions on immigration
Speaker 1: and religious rights. This backlog of cases is the biggest
Speaker 1: in percentage term since at least nineteen fifty, according to
Speaker 1: emperiodical Scotus dot com founder Adam Feldman. It comes as
Speaker 1: the justices and their law clerks are dealing with an
Speaker 1: investigation at the leak of a draft opinion over turning
Speaker 1: Roe v. Wade abortion rights ruling. For more, Bloomberg's June
Speaker 1: Grosso speaks to Kimberly Strawbridge Robinson Bloomberg the Law Supreme
Speaker 1: Court reporter Kimberly. At this point, the Justices have thirty
Speaker 1: three decisions outstanding. That's more than they've issued this whole term.
Speaker 1: Is this unusual, Well, it is, and it isn't. So
Speaker 1: it's not unusual for the Court to kind of backload.
Speaker 1: It's worked with opinions, you know, that makes a lot
Speaker 1: of sense. In the beginning of the term, the justices
Speaker 1: are also hearing oral arguments in cases. There's a lot
Speaker 1: of prep for those arguments to happen, and then they
Speaker 1: stopped doing that around April and focused totally on opinions.
Speaker 1: So we do tend to get a lot of the
Speaker 1: opinions in June, specifically as the Court tries to hit
Speaker 1: this kind of informal deadline at the end of June
Speaker 1: to knock out all of its opinions. But it's unusual
Speaker 1: in the sense to have so many. We could see
Speaker 1: the Supreme Court was already working pretty slowly before we
Speaker 1: got that unprecedented leak of an abortion ruling, but since
Speaker 1: then it's been going even more slowly. So it is
Speaker 1: unusual to have thirty three cases left for the Justices
Speaker 1: to get out, and it is a pretty heavy list.
Speaker 1: Maybe we won't be hitting that informal deadline this year.
Speaker 1: Since the majority opinions are sort of spread out evenly
Speaker 1: among the justices, Supreme Court watchers watch which justice has
Speaker 1: written opinions and how many to determine who's left. So
Speaker 1: what have you found out? Right? This is one of
Speaker 1: those things that we're forced to do because you know,
Speaker 1: it's such a secretive institution, the League notwithstanding. But yeah,
Speaker 1: so typically we see justices trying to even out the opinions,
Speaker 1: spread them across each of the argument sittings, and so
Speaker 1: we can kind of get an idea of who we're
Speaker 1: expecting the most opinions from. Right now to Justice Roberts
Speaker 1: and Kagan have written the most opinions. They've written four
Speaker 1: of the six or seven that we expect to see.
Speaker 1: But some of the other justices have a lot more
Speaker 1: work to do. Thomas Alito, Kavanaugh, you know, they've only
Speaker 1: written too so they're not even halfway done with their work.
Speaker 1: Of course, we know Justice Alito from that league is
Speaker 1: probably writing ski majority opinion in that big abortion case.
Speaker 1: But who's writing what else? We'll get a better clue
Speaker 1: as more opinions kind of trickle in and we can
Speaker 1: play this process of elimination and as Kimberly Strawbridge Robinson
Speaker 1: Bloomberg lost Supreme Court reporters speaking at the Bloomberg June Grasso.
Speaker 1: Catch more of that interview, plus analysis of the latest
Speaker 1: legal news, by subscribing to the Bloomberg Law Podcast or
Speaker 1: downloading the show at Bloomberg dot com slash podcast. Attorneys
Speaker 1: can find exceptional legal research and business development tools at
Speaker 1: Bloomberg Law dot com and on the Bloomberg terminal at
Speaker 1: b law Go. Futures this morning are on the rise.
Speaker 1: SNP futures or of forty points down futures of two
Speaker 1: hundred forty six and now as DAK futures have one
Speaker 1: fifties seven ten year treasury down seven thirty seconds, yield
Speaker 1: two point nine six percent, and they yield on the
Speaker 1: two year two point six eight percent. The euro one
Speaker 1: point oh seven four two against the dollar still ahead
Speaker 1: on Bloomberg Daybreak and checked on the business headlines and
Speaker 1: all the news you need to start your day. And
Speaker 1: this is Bloomberg