1 00:00:02,200 --> 00:00:05,480 Speaker 1: By from the Bloomberg Interactive Burger Studios. This is Bloomberg 2 00:00:05,519 --> 00:00:09,160 Speaker 1: Daybreak for Wednesday, April six two. Coming up to sour, 3 00:00:09,440 --> 00:00:12,600 Speaker 1: the US and its allies prepared to impose more sanctions 4 00:00:12,600 --> 00:00:15,120 Speaker 1: on Russia. The global bond sell off deep ends as 5 00:00:15,160 --> 00:00:18,119 Speaker 1: the FED steps up tightening talk. Janet Yellen warns the 6 00:00:18,120 --> 00:00:22,040 Speaker 1: war threatens massive economic repercussions, and Bank of America pushes 7 00:00:22,079 --> 00:00:24,360 Speaker 1: for all the workers to get back in the office. 8 00:00:24,640 --> 00:00:27,880 Speaker 1: The m t a's incoming subway and bus chief focuses 9 00:00:27,920 --> 00:00:31,680 Speaker 1: on improving rider, ship and service plus Avanca. Trump testifies 10 00:00:31,720 --> 00:00:34,920 Speaker 1: before the January six Committee. I'm Michael Barr. More ahead, 11 00:00:35,120 --> 00:00:37,440 Speaker 1: I've done stas Daron sports the next beat the Rockets, 12 00:00:37,440 --> 00:00:40,040 Speaker 1: the Rangers, beat the Devils, and Tiger Woods says he's 13 00:00:40,080 --> 00:00:46,280 Speaker 1: coming back to play the baster. That's whole straight ahead 14 00:00:46,360 --> 00:00:52,400 Speaker 1: on Bloomberg Daybreak on Bloomberg Eliven Treo, New York, Bloomberg one, Washington, 15 00:00:52,520 --> 00:00:57,480 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine Sixties, Francisco, 16 00:00:57,840 --> 00:01:01,120 Speaker 1: Sirius x M one nineteen and around the world on 17 00:01:01,280 --> 00:01:04,680 Speaker 1: Bloomberg Radio dot Com and via The Bloomberg Business at 18 00:01:07,280 --> 00:01:10,280 Speaker 1: Good Morning I'm Nathan Hagar and I'm Karen Moscow. US 19 00:01:10,360 --> 00:01:12,920 Speaker 1: DOT index Future is moving lower this morning, adding to 20 00:01:13,080 --> 00:01:15,240 Speaker 1: yesterday's losses. We're coming up to six oh one on 21 00:01:15,280 --> 00:01:17,400 Speaker 1: Wall Street, and we check the markets every fifteen minutes 22 00:01:17,400 --> 00:01:20,760 Speaker 1: throughout the trading day. On Bloomberg, SNP Future is down 23 00:01:20,760 --> 00:01:23,360 Speaker 1: about twenty five points down. Futures down a Hubbard fifties 24 00:01:23,360 --> 00:01:26,920 Speaker 1: seven and NASDAK futures down one. Two ten year Treasury 25 00:01:26,959 --> 00:01:29,679 Speaker 1: down twenty thirty seconds, held two point six two percent, 26 00:01:29,760 --> 00:01:31,720 Speaker 1: and they yield on the two year two point five. 27 00:01:32,840 --> 00:01:35,160 Speaker 1: Nim X screwed oil is up one point six percent 28 00:01:35,200 --> 00:01:38,080 Speaker 1: and a hundred three dollars sixty two cents a barrel. Nathan, 29 00:01:38,160 --> 00:01:39,959 Speaker 1: all right, Karen, thank you. We begin this morning with 30 00:01:40,000 --> 00:01:43,039 Speaker 1: the latest on the war in Ukraine. NATO foreign ministers 31 00:01:43,040 --> 00:01:45,600 Speaker 1: are meeting in Brussels, while the US and its allies 32 00:01:45,640 --> 00:01:49,160 Speaker 1: are working on new sanctions against Russia. Amy Morris joins 33 00:01:49,200 --> 00:01:53,320 Speaker 1: us with details from our Bloomberg newsroom in Washington. Ukrainian 34 00:01:53,320 --> 00:01:56,720 Speaker 1: officials say Russian forces continue to strike infrastructure targets like 35 00:01:56,800 --> 00:02:00,200 Speaker 1: fuel storage and grain silos, and Ukrainian president flooding. Here's 36 00:02:00,200 --> 00:02:02,680 Speaker 1: a Lyinsky made a plea for peace before the UN 37 00:02:02,760 --> 00:02:05,440 Speaker 1: Security Council, urging the UN to do more to stop 38 00:02:05,520 --> 00:02:10,080 Speaker 1: Moscow's aggression, sagging through a translator that Russia doesn't deserve 39 00:02:10,080 --> 00:02:12,600 Speaker 1: a seat at that table. We are dealing with a 40 00:02:12,720 --> 00:02:16,320 Speaker 1: state that is turning the veto into the UN Security 41 00:02:16,320 --> 00:02:20,440 Speaker 1: Council into the right to die. This undermines the whole 42 00:02:20,639 --> 00:02:24,440 Speaker 1: architecture of global security at China express dismay at the 43 00:02:24,520 --> 00:02:28,720 Speaker 1: killing of unarmed civilians without condemning Vladimir Putin. Russia continues 44 00:02:28,760 --> 00:02:31,760 Speaker 1: to deny the accusations. In Washington, I'm Amy Moore as 45 00:02:31,760 --> 00:02:34,720 Speaker 1: Bloomberg Daybreak, All right, Amy, thank you. Meantime, Secretary of 46 00:02:34,800 --> 00:02:38,720 Speaker 1: State Anthony Blincoln is weighing in on civilian deaths in Ukraine. 47 00:02:38,760 --> 00:02:42,760 Speaker 1: He says the atrocities in Buscha are not isolated incidents. 48 00:02:42,960 --> 00:02:46,600 Speaker 1: Bloomberg said, Bachelor has the story. Secretary Blincoln says the 49 00:02:46,680 --> 00:02:49,839 Speaker 1: US is helping in a thorough investigation and says there 50 00:02:49,919 --> 00:02:53,000 Speaker 1: must be accountability from the top down. What we've seen 51 00:02:53,440 --> 00:02:57,080 Speaker 1: in is not the random act of a rogue unit. 52 00:02:58,040 --> 00:03:03,839 Speaker 1: It's a deliberate campaign uh to kill, the torture, to rape, 53 00:03:05,080 --> 00:03:09,080 Speaker 1: to commit atrocities, and Blincoln says it will all be 54 00:03:09,520 --> 00:03:14,600 Speaker 1: documented and reported in San Francisco. I'm at Baxter Bloomberg Daybreak, Okay, 55 00:03:14,600 --> 00:03:16,840 Speaker 1: and thanks. On the economic front, the war has had 56 00:03:16,880 --> 00:03:20,000 Speaker 1: a major impact on oil and gas prices. Later today, 57 00:03:20,040 --> 00:03:23,200 Speaker 1: oil executives head to Capitol Hill to answer questions about 58 00:03:23,200 --> 00:03:26,120 Speaker 1: price hikes. We get the story from Bloomberg's Charlie Pellet. 59 00:03:26,520 --> 00:03:31,400 Speaker 1: Chief executives of BP America, Chevron, Devon Energy, x On Mobile, 60 00:03:31,440 --> 00:03:35,600 Speaker 1: Pioneer Natural Resources, and Shell USA are set to testify 61 00:03:35,680 --> 00:03:38,680 Speaker 1: before the House Energy and Commerce Committee. The hearing will 62 00:03:38,720 --> 00:03:42,680 Speaker 1: include both in person and remote attendees. It comes amid 63 00:03:42,800 --> 00:03:47,160 Speaker 1: intensifying scrutiny of oil companies whose stock values have climbed 64 00:03:47,160 --> 00:03:51,000 Speaker 1: along with the price of crude, stoking new congressional proposals 65 00:03:51,080 --> 00:03:55,080 Speaker 1: for a windfall profits tax in New York. Charlie Pellet 66 00:03:55,240 --> 00:03:59,000 Speaker 1: Bloomberg Daybreak, Charlie, thank you all. Treasury Secretary Johnny Yellen 67 00:03:59,040 --> 00:04:01,720 Speaker 1: will also be testif before Congress today on how the 68 00:04:01,720 --> 00:04:04,560 Speaker 1: war in Ukraine could impact the global economy, and Bloomberg's 69 00:04:04,600 --> 00:04:06,960 Speaker 1: Rned Young joins us Live with the details. Good morning, 70 00:04:06,960 --> 00:04:10,040 Speaker 1: Ready to Good morning care and Treasury Secretary Janet Yelling 71 00:04:10,080 --> 00:04:12,960 Speaker 1: will warn that the war in Ukraine threatens to inflict 72 00:04:13,200 --> 00:04:17,160 Speaker 1: enormous economic repercussions. That's according to a copy of prepared 73 00:04:17,200 --> 00:04:20,400 Speaker 1: remarks that she'll give to the House Financial Services Committee. 74 00:04:20,600 --> 00:04:23,240 Speaker 1: Her testimony comes as the I m F is preparing 75 00:04:23,279 --> 00:04:26,599 Speaker 1: to cut its forecasts for global growth. In Deutsche Bank, 76 00:04:26,640 --> 00:04:30,480 Speaker 1: economists say that they should now expect the US recession 77 00:04:30,720 --> 00:04:33,480 Speaker 1: in the next two years. Live in New York, I'm 78 00:04:33,520 --> 00:04:36,240 Speaker 1: Renita Young, Bloomberg Daybreak. All right, thanks for Nita. Turning 79 00:04:36,279 --> 00:04:38,840 Speaker 1: to markets now, we're seeing the global bond sell off 80 00:04:38,880 --> 00:04:41,200 Speaker 1: deepened this morning. Let's get the latest on that Live 81 00:04:41,279 --> 00:04:44,640 Speaker 1: with Bloomberg's John Tucker, John Nathan. The bond route worsen 82 00:04:44,720 --> 00:04:47,520 Speaker 1: day after Federal Reserve Governor Leo Brainard said the Central 83 00:04:47,560 --> 00:04:51,400 Speaker 1: Bank will likely step up policy tightening given that the 84 00:04:51,440 --> 00:04:54,479 Speaker 1: recovery has been considerably stronger and faster than in the 85 00:04:54,520 --> 00:04:57,440 Speaker 1: previous cycle. I expect the balance sheet to shrink considerably 86 00:04:57,480 --> 00:05:01,200 Speaker 1: more rapidly than in the previous recovery. Aspect of aggressive 87 00:05:01,240 --> 00:05:03,720 Speaker 1: FED action drove the yield on the benchmark ten year 88 00:05:03,760 --> 00:05:07,920 Speaker 1: treasury of five basis points to to sixty. Investors are 89 00:05:07,960 --> 00:05:11,600 Speaker 1: dumping fixed income securities as policymakers move to raise rates 90 00:05:11,600 --> 00:05:15,400 Speaker 1: in the face of surging global inflation. Global bonds extending 91 00:05:15,440 --> 00:05:18,680 Speaker 1: losses this week, and we're completing an eight month losing 92 00:05:18,760 --> 00:05:21,919 Speaker 1: streak that is the longest on record. Strategists say the 93 00:05:21,920 --> 00:05:24,719 Speaker 1: whole fit typing narrative is being moved up in time. 94 00:05:25,080 --> 00:05:28,360 Speaker 1: At Magnitude Live in New York, I'm John Tucker Bloomberg Daybreak. 95 00:05:28,480 --> 00:05:30,600 Speaker 1: All right, John, thank you. We me get more clues 96 00:05:30,640 --> 00:05:33,120 Speaker 1: about the future of interest racers afternoon, my minutes of 97 00:05:33,200 --> 00:05:36,160 Speaker 1: the FEDS March policy meeting are released. We are also 98 00:05:36,279 --> 00:05:38,440 Speaker 1: likely to get details of the Feeds plans to shrink 99 00:05:38,480 --> 00:05:41,880 Speaker 1: its massive balance sheet. Today. Let's turn to corporate news now, Karen, 100 00:05:41,880 --> 00:05:44,760 Speaker 1: we have a takeover bid in the airline industry. Jet 101 00:05:44,800 --> 00:05:47,599 Speaker 1: Blue has offered to buy rival Spirit Airlines for three 102 00:05:47,600 --> 00:05:50,840 Speaker 1: point six billion dollars. The move could potentially spoil an 103 00:05:50,839 --> 00:05:54,440 Speaker 1: earlier agreement for Frontier Group to buy Spirit. The unsolicited 104 00:05:54,440 --> 00:05:57,160 Speaker 1: proposal from Jet Blue has the potential to reshape the 105 00:05:57,240 --> 00:05:59,839 Speaker 1: landscape for ultra low cost air travel in the US. 106 00:06:00,120 --> 00:06:02,120 Speaker 1: We'll turning to the pandemic now, Nathan. The push to 107 00:06:02,120 --> 00:06:04,480 Speaker 1: gain workers back in the office is picking up now. 108 00:06:04,520 --> 00:06:07,240 Speaker 1: Bank of America plans to bring all its US employees 109 00:06:07,320 --> 00:06:10,240 Speaker 1: back by June one. To get the story from Bloomberg's 110 00:06:10,240 --> 00:06:13,760 Speaker 1: Lisa Mateo, the return to office includes those who haven't 111 00:06:13,800 --> 00:06:18,119 Speaker 1: been vaccinated against the coronavirus. Sources say employees will still 112 00:06:18,200 --> 00:06:21,040 Speaker 1: have some flexibility to work from home, but they are 113 00:06:21,120 --> 00:06:25,120 Speaker 1: being strongly encouraged to collaborate with colleagues in person. Bank 114 00:06:25,200 --> 00:06:28,719 Speaker 1: executives on Wall Street have voice concerned that junior bankers 115 00:06:28,720 --> 00:06:31,359 Speaker 1: and traders can't get the same kind of training and 116 00:06:31,400 --> 00:06:34,159 Speaker 1: mentorship over Zoom that they can from being in the 117 00:06:34,240 --> 00:06:38,600 Speaker 1: office alongside more senior colleagues in New York. Lisa Mateo, 118 00:06:38,760 --> 00:06:41,520 Speaker 1: Bloomberg Daybreak, All right, Lisa, thank you. And this could 119 00:06:41,520 --> 00:06:44,000 Speaker 1: be a boon for Fightser. Bloomberg News has learned the 120 00:06:44,000 --> 00:06:46,320 Speaker 1: White House is on the hook to pay Finser nearly 121 00:06:46,400 --> 00:06:50,520 Speaker 1: five billion dollars for pills it's already ordered to treat COVID. 122 00:06:50,960 --> 00:06:53,640 Speaker 1: That means the Fightser treatment could eat up about half 123 00:06:53,680 --> 00:06:56,440 Speaker 1: of a scaled back pandemic funding bill that the Senate 124 00:06:56,520 --> 00:06:59,200 Speaker 1: is debating right now. S and P futures are down 125 00:06:59,240 --> 00:07:01,840 Speaker 1: twenty four point staff futures down a hundred fifty four 126 00:07:01,920 --> 00:07:04,680 Speaker 1: nastic futures are lower by a hundred twenty points, the 127 00:07:04,720 --> 00:07:07,599 Speaker 1: tenure treasury is down twenty thirty seconds, the yield two 128 00:07:07,600 --> 00:07:10,960 Speaker 1: point yield on the two year two point five five, 129 00:07:11,000 --> 00:07:13,520 Speaker 1: and nieme X screwed up one point seven a hundred 130 00:07:13,520 --> 00:07:16,000 Speaker 1: three dollar sixty four cents of barrel. Straight ahead, your 131 00:07:16,040 --> 00:07:19,360 Speaker 1: latest local headlines and the check of sports. This is Bloomberg. 132 00:07:22,400 --> 00:07:24,560 Speaker 1: It's sounds six oh seven on Wall Street, still reigning 133 00:07:24,680 --> 00:07:28,600 Speaker 1: sixty five degrees. I'm sorry, forty five degrees in Central Park. 134 00:07:28,640 --> 00:07:31,000 Speaker 1: It's not nearly that warm. Here's Michael Barr with more 135 00:07:31,040 --> 00:07:33,400 Speaker 1: on what's going on in New York and around the world. Michael, 136 00:07:33,400 --> 00:07:35,520 Speaker 1: good morning, Good morning. Don't get me happy like that. 137 00:07:35,640 --> 00:07:39,160 Speaker 1: Weekday subway ridership in New York City is nearly six 138 00:07:40,760 --> 00:07:44,440 Speaker 1: levels now. The incoming subway and bus chief wants to 139 00:07:44,480 --> 00:07:47,720 Speaker 1: boost that. Richard Davies says he will focus on how 140 00:07:47,720 --> 00:07:51,680 Speaker 1: to improve service to bring more riders back. Safety is 141 00:07:51,680 --> 00:07:54,720 Speaker 1: absolutely the top priority on the security of our system. 142 00:07:54,760 --> 00:07:58,040 Speaker 1: I think that's job one. Davey plans to work with 143 00:07:58,120 --> 00:08:00,920 Speaker 1: the New York City Police Department and mental health outreach 144 00:08:00,960 --> 00:08:03,720 Speaker 1: workers to produce crime I did observe writers you know, 145 00:08:03,800 --> 00:08:07,600 Speaker 1: standing against wallace, for example, or situating themselves near posts 146 00:08:07,680 --> 00:08:10,000 Speaker 1: or other immovable objects to make sure that someone didn't 147 00:08:10,040 --> 00:08:14,360 Speaker 1: approach him from behind. Richard Davy, a former Massachusetts Secretary 148 00:08:14,400 --> 00:08:17,760 Speaker 1: of Transportation who also ran Boston's mass transit system, will 149 00:08:17,760 --> 00:08:20,840 Speaker 1: begin his ten year on May second as president of 150 00:08:20,920 --> 00:08:23,920 Speaker 1: New York City Transit. At the m t A. Ivanka 151 00:08:23,920 --> 00:08:27,800 Speaker 1: Trump is testified before the House January sixth Committee. She 152 00:08:27,920 --> 00:08:31,920 Speaker 1: answered the questions remotely. Chairman Manny Thompson says Ivanka Trump 153 00:08:31,960 --> 00:08:35,760 Speaker 1: cooperated voluntarily answering what she knew about the hours with 154 00:08:35,840 --> 00:08:39,160 Speaker 1: her father, former President Trump, before, during, and after the 155 00:08:39,200 --> 00:08:43,280 Speaker 1: Capitol riot. Earlier, Avanka's husband Jared Kushner spent nearly six 156 00:08:43,320 --> 00:08:46,520 Speaker 1: hours talking to the committee. President Joe Biden is ordering 157 00:08:46,520 --> 00:08:50,680 Speaker 1: a new national research push on long COVID. The President 158 00:08:50,800 --> 00:08:54,440 Speaker 1: is also directing federal agencies to support patients dealing with 159 00:08:54,480 --> 00:09:00,400 Speaker 1: a mysterious and debilitating condition that includes fatigue and brain fog. Meanwhile, 160 00:09:00,480 --> 00:09:03,959 Speaker 1: there are more reported cases of diabetes after COVID. Nineteen 161 00:09:04,280 --> 00:09:09,080 Speaker 1: CDC director Dr Rochelle Wilenski, the science is definitely starting 162 00:09:09,120 --> 00:09:12,480 Speaker 1: to demonstrate this link between people who previously had COVID 163 00:09:12,640 --> 00:09:17,360 Speaker 1: and increasing rates of new diabetes diagnoses. Dr Wilensky also 164 00:09:17,440 --> 00:09:20,439 Speaker 1: says the seven day average of new COVID hospitalizations is 165 00:09:20,480 --> 00:09:24,240 Speaker 1: about fourteen hundred per day, a decrease of about seventeen 166 00:09:24,280 --> 00:09:27,320 Speaker 1: percent over the previous week. Severe weather killed at least 167 00:09:27,320 --> 00:09:30,920 Speaker 1: two people, one in Georgia and another in Texas. Yesterday, hail, 168 00:09:31,040 --> 00:09:35,400 Speaker 1: strong winds and tornadoes tour across the south. In Crawford County, Georgia. 169 00:09:35,440 --> 00:09:38,439 Speaker 1: This allmowner describes the moment the storm hit. I heard, 170 00:09:39,080 --> 00:09:42,320 Speaker 1: you know the noise. Everybody says there's a train noise. 171 00:09:42,720 --> 00:09:47,320 Speaker 1: So it didn't last, but about like seconds more severe 172 00:09:47,360 --> 00:09:50,520 Speaker 1: weather is forecast in the Southeast Today. Global News twenty 173 00:09:50,520 --> 00:09:52,959 Speaker 1: four hours a day on air and on Bloomberg Quickday, 174 00:09:53,040 --> 00:09:56,600 Speaker 1: powered by more than journalists analysts more than twenty countries. 175 00:09:56,880 --> 00:10:04,680 Speaker 1: Michael bar this is Bloomberg. Nathan. Thanks Michael. Coming up 176 00:10:04,720 --> 00:10:06,640 Speaker 1: to six ten on Wall Street time for the Bloomberg 177 00:10:06,640 --> 00:10:09,520 Speaker 1: Sports Update with John Stashi. Thanks Nathan. Tagger Woods won 178 00:10:09,559 --> 00:10:12,880 Speaker 1: the Masters in twenty nineteen, finished thirty eight when the 179 00:10:12,880 --> 00:10:16,240 Speaker 1: Masters was postponed until November. He hasn't played a tournament 180 00:10:16,320 --> 00:10:18,760 Speaker 1: since then. He didn't play last year's Masters because last 181 00:10:18,840 --> 00:10:20,920 Speaker 1: year at this time he couldn't get out of bed. 182 00:10:21,000 --> 00:10:23,880 Speaker 1: But fourteen months after the life threatening injuries suffer in 183 00:10:23,920 --> 00:10:26,880 Speaker 1: the car accident, Tigers set to tee off tomorrow morning 184 00:10:26,920 --> 00:10:29,640 Speaker 1: around ten thirty. He's been playing practice rounds in Augusta 185 00:10:29,960 --> 00:10:33,680 Speaker 1: and was asked how he's playing. It just fun and 186 00:10:34,320 --> 00:10:37,520 Speaker 1: I don't have any qualms about what I can do 187 00:10:37,679 --> 00:10:41,480 Speaker 1: physically from a golf standpoint. It style walking as the 188 00:10:41,520 --> 00:10:44,319 Speaker 1: hard part, and this is normally not a easy walk 189 00:10:44,400 --> 00:10:46,600 Speaker 1: to begin with. He'll play with the South African Louis 190 00:10:46,640 --> 00:10:50,400 Speaker 1: Eustasen and the young Chilean Joaukee Nieman, who is half 191 00:10:50,720 --> 00:10:54,120 Speaker 1: Tiger's age. Hourly Masters updates here on Bloomberg Radio on 192 00:10:54,120 --> 00:10:56,319 Speaker 1: a wrap up show each night at eleven. Kyrie Irving 193 00:10:56,440 --> 00:10:59,160 Speaker 1: enjoyed being allowed to play in Brooklyn. Scored forty two points, 194 00:10:59,160 --> 00:11:01,120 Speaker 1: made eight three point is the next Sweet Houston one 195 00:11:01,160 --> 00:11:03,079 Speaker 1: eight team to one oh five. Needed a big game 196 00:11:03,080 --> 00:11:06,040 Speaker 1: from Kyrie because Kevin Durant, coming off a fifty five 197 00:11:06,080 --> 00:11:08,640 Speaker 1: point game, shot just four of thirteen Rangers in New 198 00:11:08,720 --> 00:11:11,880 Speaker 1: Jersey one three to one. Forty seventh goal for Chris Ryder. 199 00:11:11,960 --> 00:11:14,360 Speaker 1: He's third in the league to assist for our Timmy 200 00:11:14,360 --> 00:11:16,880 Speaker 1: Panari's got sixty five, which is tied for second in 201 00:11:16,880 --> 00:11:19,720 Speaker 1: the NHL fifth grade winning goal for Alex Gordy. Have 202 00:11:19,760 --> 00:11:21,920 Speaker 1: Islanders lost in Dallas three to two. The end of 203 00:11:21,960 --> 00:11:25,160 Speaker 1: the grape Fruit League, the Mets lost to Washington fourteen 204 00:11:25,240 --> 00:11:27,480 Speaker 1: to nothing Taiwan and Walker got roughed up. The two 205 00:11:27,520 --> 00:11:30,320 Speaker 1: teams play the opener tomorrow in d C. The Yankees 206 00:11:30,600 --> 00:11:32,839 Speaker 1: lost to the Tigers and then came home opening the 207 00:11:32,880 --> 00:11:35,840 Speaker 1: day with the Red Sox scheduled for tomorrow with the stadium, 208 00:11:35,880 --> 00:11:40,520 Speaker 1: but rain is in the forecast. Johns Dashward Bloomberg Sports Okay, John, 209 00:11:40,559 --> 00:11:43,400 Speaker 1: thank you right now. SMP futures are down twenty four point, 210 00:11:43,440 --> 00:11:46,080 Speaker 1: staff features down a hundred fifty five. Nest Act futures 211 00:11:46,080 --> 00:11:48,840 Speaker 1: are lower by a hundred twenty three points. The tenure 212 00:11:48,880 --> 00:11:51,160 Speaker 1: treasury is down down twenty one thirty seconds. With the 213 00:11:51,240 --> 00:11:53,880 Speaker 1: yield two point six two percent, yield on the two 214 00:11:53,960 --> 00:11:57,520 Speaker 1: year two point five five percent. Latest on the war 215 00:11:57,559 --> 00:12:00,600 Speaker 1: in Ukraine. Next with Bloomberg's Mark Champ be and stay 216 00:12:00,679 --> 00:12:08,199 Speaker 1: with us. This is Bloomberg Bloomberg Day Break, brought to 217 00:12:08,240 --> 00:12:11,040 Speaker 1: you by ancient accountants and advisors challenging times call for 218 00:12:11,040 --> 00:12:14,120 Speaker 1: proactive advisors who helped minimize taxes, increased cash flow and 219 00:12:14,120 --> 00:12:17,120 Speaker 1: create opportunities for the future of your business. Visit ancient 220 00:12:17,240 --> 00:12:27,160 Speaker 1: dot com markets, headlines and breaking news twenty four hours 221 00:12:27,160 --> 00:12:30,120 Speaker 1: a day at Bloomberg dot Com. The Bloomberg Business at 222 00:12:30,160 --> 00:12:40,000 Speaker 1: Land at Bloomberg Quicktape is a Bloomberg Business lash and 223 00:12:40,120 --> 00:12:42,720 Speaker 1: I'm Karen Moscow and a global bond sell off. Deepening 224 00:12:42,840 --> 00:12:45,920 Speaker 1: and stock slumping is investors position for a swift reduction 225 00:12:45,920 --> 00:12:47,920 Speaker 1: in the feder reserves debt holdings as part of a 226 00:12:47,920 --> 00:12:50,960 Speaker 1: stepped up campaign of monetary tightening to tackle high inflation. 227 00:12:51,280 --> 00:12:53,680 Speaker 1: We checked the markets every fifteen minutes throughout the trading 228 00:12:53,760 --> 00:12:56,520 Speaker 1: day on Bloomberg, s and P futures are down thirty 229 00:12:56,559 --> 00:13:00,160 Speaker 1: one points down, futures down one four NASDAG futures on 230 00:13:00,160 --> 00:13:04,720 Speaker 1: one hundred tenure treasury down thirty seconds two point six 231 00:13:04,760 --> 00:13:06,960 Speaker 1: three percent. They yield on the two year two point 232 00:13:06,960 --> 00:13:09,800 Speaker 1: five six percent. Nim Max Screwed oil is up one 233 00:13:09,800 --> 00:13:11,800 Speaker 1: point six percent of a dollar sixty six and a 234 00:13:11,840 --> 00:13:14,640 Speaker 1: hundred three dollars sixty cents of Barrel Comic School is 235 00:13:14,720 --> 00:13:16,760 Speaker 1: up three ten per cent or five dollars fifty cents 236 00:13:16,760 --> 00:13:19,840 Speaker 1: At nineteen thirty two eighty announced the euro one point 237 00:13:20,000 --> 00:13:22,079 Speaker 1: nine O eight against the dollar British round one point 238 00:13:22,120 --> 00:13:24,920 Speaker 1: three zero eight six. They end at one three point 239 00:13:25,000 --> 00:13:28,280 Speaker 1: nine one and Bitcoin is lower down one and a 240 00:13:28,320 --> 00:13:31,760 Speaker 1: half percent at forty one hundred fifty dollars. As a 241 00:13:31,800 --> 00:13:34,319 Speaker 1: Bloomberg Business flash, now here's Michael Barr with more on 242 00:13:34,400 --> 00:13:37,400 Speaker 1: what's going on around the world. Michael Karen, thank you 243 00:13:37,480 --> 00:13:40,440 Speaker 1: very much. The US, European Union and Group of Seven 244 00:13:40,559 --> 00:13:43,360 Speaker 1: are coordinating on a fresh round of sanctions on Russia, 245 00:13:43,440 --> 00:13:47,000 Speaker 1: including the US ban on investment in the country and 246 00:13:47,000 --> 00:13:50,840 Speaker 1: an EU ban on coal imports. It comes after the 247 00:13:50,880 --> 00:13:55,120 Speaker 1: discovery of civilian murders and other atrocities in Ukrainian towns 248 00:13:55,559 --> 00:13:59,520 Speaker 1: left open by retreating Russian forces. In golf Tiger Woods 249 00:13:59,520 --> 00:14:02,360 Speaker 1: Hays for now, well, he'll probably Tall had the Master's 250 00:14:02,440 --> 00:14:05,840 Speaker 1: golf tournament in Augusta, Georgia tomorrow, following a fourteen month 251 00:14:05,880 --> 00:14:09,040 Speaker 1: recovery from a near fatal car crash that almost cost 252 00:14:09,080 --> 00:14:11,920 Speaker 1: him his leg. Stay tuned for updates every hour on 253 00:14:12,040 --> 00:14:16,080 Speaker 1: Bloomberg Radio and a special edition of Masters Tonight coming 254 00:14:16,160 --> 00:14:18,680 Speaker 1: up at eleven pm Eastern time. In the NBA, the 255 00:14:18,720 --> 00:14:21,600 Speaker 1: Nets and Wizards. One in the NHL, The Rangers Meet 256 00:14:21,640 --> 00:14:24,960 Speaker 1: the Devil three one the Islanders and Bruins lost. Global 257 00:14:25,000 --> 00:14:27,520 Speaker 1: News twenty four hours a day on air and on 258 00:14:27,560 --> 00:14:30,640 Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred 259 00:14:30,680 --> 00:14:33,720 Speaker 1: journalists analysts more than a hundred twenty countries. Michael Barr 260 00:14:33,760 --> 00:14:37,160 Speaker 1: and this is Bloomberg. Nathan Okay, Michael. Thanks at six 261 00:14:37,240 --> 00:14:40,840 Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. 262 00:14:40,880 --> 00:14:43,840 Speaker 1: This is Bloomberg Daybreak in our global team. Coverage of 263 00:14:43,840 --> 00:14:47,040 Speaker 1: the war in Ukraine continues now with Mark Champion joining 264 00:14:47,120 --> 00:14:51,040 Speaker 1: us Bloomberg News Senior reporter for International Affairs Market Morning. 265 00:14:51,040 --> 00:14:52,760 Speaker 1: I want to start off with the latest on what 266 00:14:52,800 --> 00:14:55,560 Speaker 1: we're seeing on the ground in Ukraine. We've gotten these 267 00:14:55,600 --> 00:14:58,920 Speaker 1: reports that rush some Russian forces have pulled away from 268 00:14:58,920 --> 00:15:01,720 Speaker 1: near Kiev, where the was a horrific images have been 269 00:15:01,800 --> 00:15:04,520 Speaker 1: left behind and are now focusing on the east. Is 270 00:15:04,760 --> 00:15:08,440 Speaker 1: that what we're seeing at this point. Yes. In the 271 00:15:08,520 --> 00:15:12,600 Speaker 1: first part, so essentially, the Russians announced that they would 272 00:15:12,600 --> 00:15:16,080 Speaker 1: withdraw from the north um. The Ukrainians sort of took 273 00:15:16,080 --> 00:15:20,040 Speaker 1: advantage of that and and have been harassing them and 274 00:15:20,080 --> 00:15:24,120 Speaker 1: they have largely left from around Kiev um and in 275 00:15:24,240 --> 00:15:29,080 Speaker 1: some other areas in the north. UM. The expectation, largely 276 00:15:29,120 --> 00:15:31,200 Speaker 1: because the Russians have said that this is what they 277 00:15:31,240 --> 00:15:33,600 Speaker 1: want to do, to focus on the east and the 278 00:15:33,640 --> 00:15:37,720 Speaker 1: don Bass region instead, is that those forces will eventually 279 00:15:37,760 --> 00:15:40,080 Speaker 1: be moved around to the other side of the country 280 00:15:40,400 --> 00:15:44,360 Speaker 1: and join the the war effort, the Russian war effort 281 00:15:44,680 --> 00:15:48,200 Speaker 1: in through the east. UM. That's where Mariupo has also 282 00:15:48,280 --> 00:15:51,400 Speaker 1: been under siege for several weeks now. UM, So that 283 00:15:51,480 --> 00:15:55,480 Speaker 1: hasn't actually happened yet. There haven't been actual sightings of 284 00:15:55,560 --> 00:15:58,440 Speaker 1: those troops that left the north moving to the east. 285 00:15:58,680 --> 00:16:02,480 Speaker 1: It's expected that could take a couple of weeks. And 286 00:16:02,520 --> 00:16:06,240 Speaker 1: we also heard this morning from Ukrainian President Voladimir Zolinski 287 00:16:06,400 --> 00:16:09,240 Speaker 1: once again giving a virtual address, this time to the 288 00:16:09,280 --> 00:16:13,360 Speaker 1: Irish Parliament, saying that Russia hasn't given up on its 289 00:16:13,400 --> 00:16:16,360 Speaker 1: ambition to take over the entire country. If we do 290 00:16:16,480 --> 00:16:20,320 Speaker 1: have this focus seemingly at the moment on the eastern 291 00:16:20,560 --> 00:16:25,120 Speaker 1: part of Ukraine, how does that square well? In a way? 292 00:16:25,160 --> 00:16:28,800 Speaker 1: It does if you I'm sure that if the Russian 293 00:16:29,120 --> 00:16:32,800 Speaker 1: military command was to do this over they would not 294 00:16:33,280 --> 00:16:38,840 Speaker 1: begin their campaign with their forces stretched across three at 295 00:16:38,920 --> 00:16:42,160 Speaker 1: least three different fronts in the north to the ran 296 00:16:42,280 --> 00:16:46,880 Speaker 1: Kief around hark If down in Odessa, and then across 297 00:16:46,880 --> 00:16:49,440 Speaker 1: in the east as well. UM. So what they would 298 00:16:49,440 --> 00:16:53,640 Speaker 1: probably have done would would be to concentrate forces in 299 00:16:53,680 --> 00:16:57,720 Speaker 1: the east where they already have advantages UH and then 300 00:16:58,000 --> 00:17:00,320 Speaker 1: just force their way in, take the tarret tree that 301 00:17:00,360 --> 00:17:04,159 Speaker 1: they need to consolidate for the logistical purposes, etcetera, and 302 00:17:04,200 --> 00:17:07,720 Speaker 1: then push west. And that may be what happens now. 303 00:17:08,760 --> 00:17:10,920 Speaker 1: And of course, after all the images that we saw 304 00:17:10,960 --> 00:17:14,119 Speaker 1: over the weekend of the atrocities in Busha and potentially 305 00:17:14,119 --> 00:17:18,320 Speaker 1: in other places, we're hearing about more coordinated efforts by 306 00:17:18,359 --> 00:17:23,600 Speaker 1: the US and allies to Titan sanctions. Even further on Russia. 307 00:17:23,720 --> 00:17:28,040 Speaker 1: We heard the ban on coal imports from the European 308 00:17:28,200 --> 00:17:32,840 Speaker 1: Union yesterday. What more is on the table, Mark, Well, 309 00:17:32,880 --> 00:17:36,960 Speaker 1: there there is the sorry, there is the possibility that 310 00:17:37,000 --> 00:17:43,280 Speaker 1: the UH that the European Union could ban imports of 311 00:17:43,359 --> 00:17:47,080 Speaker 1: oil from Russia and imports of national natural gas from Russia. 312 00:17:47,680 --> 00:17:49,960 Speaker 1: This is what the UK and the US have have 313 00:17:50,119 --> 00:17:54,399 Speaker 1: done in part, and it's also what President Zelinsky is 314 00:17:54,440 --> 00:17:58,240 Speaker 1: pressing the EU to do. But these are really difficult 315 00:17:58,359 --> 00:18:01,280 Speaker 1: moves for some countries which are high dependent on Russian 316 00:18:01,359 --> 00:18:04,600 Speaker 1: gas and oil um, and so they're they're taking a 317 00:18:04,680 --> 00:18:11,280 Speaker 1: first bite. Coal is not insignificant of European coal imports 318 00:18:11,320 --> 00:18:13,960 Speaker 1: come from Russia, so there's a lot of substitution to 319 00:18:14,040 --> 00:18:17,840 Speaker 1: do there. But there you know, something that was at 320 00:18:17,880 --> 00:18:22,479 Speaker 1: one point just inconceivable, which is that Europe and in 321 00:18:22,480 --> 00:18:25,719 Speaker 1: particular countries like Germany would cut themselves off from Russian 322 00:18:25,760 --> 00:18:28,680 Speaker 1: oil and gas, is now at least being talked about 323 00:18:29,320 --> 00:18:31,760 Speaker 1: in our last minute here, Mark, is there any sense 324 00:18:32,040 --> 00:18:35,600 Speaker 1: that cutting off Russian oil and gas would actually change 325 00:18:35,720 --> 00:18:38,480 Speaker 1: the way the war is going, perhaps even bring this 326 00:18:38,640 --> 00:18:43,080 Speaker 1: to a conclusion, given that the massive sweeping sanctions that 327 00:18:43,119 --> 00:18:46,240 Speaker 1: have already been imposed on the Russian economy haven't had 328 00:18:46,280 --> 00:18:48,560 Speaker 1: that effect and in fact have led to these horrific 329 00:18:48,600 --> 00:18:53,080 Speaker 1: images that we've seen. Yes, I mean, there's always a 330 00:18:53,200 --> 00:18:57,320 Speaker 1: very difficult sort of translation between sanctions and you know, 331 00:18:57,359 --> 00:19:00,359 Speaker 1: the war efforts on the ground. This is no option, 332 00:19:01,040 --> 00:19:04,080 Speaker 1: but the the oil in particular, if that were banned, 333 00:19:04,119 --> 00:19:08,120 Speaker 1: that would have an absolutely crushing um effect on the 334 00:19:08,200 --> 00:19:11,000 Speaker 1: Russian budget um. And you know, at the moment, because 335 00:19:11,000 --> 00:19:14,840 Speaker 1: of hi old prices, high gas prices. The Russians have 336 00:19:14,880 --> 00:19:17,040 Speaker 1: actually had a bit of a boon which has helped 337 00:19:17,080 --> 00:19:20,600 Speaker 1: them to offset the sanction. So it could have an impact, 338 00:19:20,960 --> 00:19:25,159 Speaker 1: but what impact is very unpredictable. They might escalate instead 339 00:19:25,160 --> 00:19:27,840 Speaker 1: of d escalate for example. All right, we'll leave it 340 00:19:27,880 --> 00:19:30,399 Speaker 1: there for now. Mark, thank you, as always, Mark Champion 341 00:19:30,440 --> 00:19:33,440 Speaker 1: with us this morning, our senior reporter for international affairs 342 00:19:33,920 --> 00:19:37,800 Speaker 1: for Bloomberg News. Looking ahead to the market, open futures 343 00:19:37,840 --> 00:19:40,400 Speaker 1: are moving lower, with S and P futures down down 344 00:19:40,400 --> 00:19:43,760 Speaker 1: twenty nine point, Style futures down a D two, Nasdaq 345 00:19:43,840 --> 00:19:46,399 Speaker 1: futures lower by a hundred forty five points. The tenure 346 00:19:46,440 --> 00:19:48,960 Speaker 1: Treasury is down twenty four thirty seconds now with the 347 00:19:49,040 --> 00:19:53,360 Speaker 1: yield two point six three percent just ahead. Janet Yellin's 348 00:19:53,440 --> 00:19:56,240 Speaker 1: warning about the impact of the war and the deepening 349 00:19:56,240 --> 00:20:00,520 Speaker 1: bond sell off on comments from Lyle Brainerd Checker stories 350 00:20:00,520 --> 00:20:08,240 Speaker 1: of the morning. You're listening to Bloomberg Daybreak. Bloomberg Daybreak 351 00:20:08,280 --> 00:20:10,040 Speaker 1: is brought to you by the Jewish Communal Fund j 352 00:20:10,119 --> 00:20:12,240 Speaker 1: c f's Donor Advice Fund is the smart choice to 353 00:20:12,280 --> 00:20:16,000 Speaker 1: manager philanthropy, especially in times of crisis. Make your giving impactful. 354 00:20:16,119 --> 00:20:23,760 Speaker 1: Visit j c f n Y dot Org broadcasting live 355 00:20:23,920 --> 00:20:27,919 Speaker 1: from the Bloomberg Interactive Broker Studio in New York. Bloomberg 356 00:20:27,920 --> 00:20:32,000 Speaker 1: E Living Freedom to Washington, d C, Bloomberg to Boston, 357 00:20:32,080 --> 00:20:35,359 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg N 358 00:20:35,560 --> 00:20:38,680 Speaker 1: sixteen to the Country, Sirius XM to A one nine team, 359 00:20:38,760 --> 00:20:41,960 Speaker 1: and around the globe the Bloomberg Business at and Bloomberg 360 00:20:42,040 --> 00:20:51,560 Speaker 1: Radio dot Com. This is Bloomberg Daybreak. It's six thirty 361 00:20:51,560 --> 00:20:54,120 Speaker 1: on Wall Street. Good morning. I'm Nathan Hagar and I'm 362 00:20:54,160 --> 00:20:57,400 Speaker 1: Karen Moscow, and we're just about three hours away from 363 00:20:57,440 --> 00:21:00,560 Speaker 1: the open of US trading. It's time the fine things 364 00:21:00,560 --> 00:21:02,320 Speaker 1: you need to know to start your day up. First, 365 00:21:02,359 --> 00:21:05,280 Speaker 1: the US and its allies are coordinating more sanctions against 366 00:21:05,359 --> 00:21:09,119 Speaker 1: Russia announced after the alleged murder of civilians in Ukraine. 367 00:21:09,520 --> 00:21:13,040 Speaker 1: AU commissioned President Ursula vunder Lyon is delivering harsh words 368 00:21:13,080 --> 00:21:17,160 Speaker 1: for the regime in Moscow. Humanity itself was killed in Wucha. 369 00:21:18,000 --> 00:21:22,200 Speaker 1: It was killed in cold blood, executed with his hands 370 00:21:22,320 --> 00:21:25,080 Speaker 1: tight and the bullet in the head. And President of 371 00:21:25,160 --> 00:21:28,280 Speaker 1: under Lyon with those remarksist morning at the European Parliament, 372 00:21:28,359 --> 00:21:31,480 Speaker 1: New sanctions will include a European embargo on Russian coal, 373 00:21:31,560 --> 00:21:34,760 Speaker 1: a US ban on investment in Russia, and tighter penalties 374 00:21:34,760 --> 00:21:38,320 Speaker 1: on officials and state owned enterprises. I meantime, Karen Janet 375 00:21:38,359 --> 00:21:42,000 Speaker 1: Yellen testifies before Congress today on the economic impact of 376 00:21:42,000 --> 00:21:44,719 Speaker 1: the war. Let's get the details lie from Bloomberg's Juanita 377 00:21:44,760 --> 00:21:48,560 Speaker 1: Young Rinita Nathan. Treasury Secretary Janet Yellen will warn that 378 00:21:48,640 --> 00:21:52,879 Speaker 1: the war in Ukraine threatens to inflict enormous economic repercussions. 379 00:21:53,119 --> 00:21:55,680 Speaker 1: That's according to a copy of prepared remarks that she'll 380 00:21:55,720 --> 00:21:59,440 Speaker 1: give to the House Financial Services Committee. Her testimony comes 381 00:21:59,480 --> 00:22:02,200 Speaker 1: as the m f is preparing to cut its forecast 382 00:22:02,320 --> 00:22:05,960 Speaker 1: for global growth, and Deutsche Bank economists said that they 383 00:22:06,040 --> 00:22:09,240 Speaker 1: now expect a US recession in the next two years. 384 00:22:09,800 --> 00:22:12,120 Speaker 1: Live in New York, I'm re need a Young Bloomberg 385 00:22:12,200 --> 00:22:13,840 Speaker 1: day break. All right, we need to thank you. Turning 386 00:22:13,880 --> 00:22:15,840 Speaker 1: to the market. So now we're seeing the global bonds 387 00:22:15,840 --> 00:22:17,800 Speaker 1: sell off deep in this morning. We get the very 388 00:22:17,840 --> 00:22:21,000 Speaker 1: latest live at the Bloomberg John Tucker, John and Karen. 389 00:22:21,040 --> 00:22:23,520 Speaker 1: FED Governor Leo Brainerd said the US Central Bank will 390 00:22:23,560 --> 00:22:27,560 Speaker 1: likely step up policy tightening that has accelerated the bomb 391 00:22:27,680 --> 00:22:29,840 Speaker 1: round and is driving the yield on the benchmark ten 392 00:22:29,920 --> 00:22:33,679 Speaker 1: ure treasuries up another nine basis points this morning to 393 00:22:33,800 --> 00:22:37,360 Speaker 1: two point six four percent bonds worldwide, I've seen an 394 00:22:37,359 --> 00:22:40,600 Speaker 1: eight month losing streak that is the longest on record, 395 00:22:40,920 --> 00:22:43,800 Speaker 1: lined in New York. I'm John Tucker Bloomberg Radio, and John, 396 00:22:43,840 --> 00:22:45,680 Speaker 1: we could get more close from the Fed Later today, 397 00:22:45,720 --> 00:22:48,240 Speaker 1: the Central Bank releases minutes from its latest policy meeting 398 00:22:48,280 --> 00:22:51,040 Speaker 1: and unveils details of its likely plans to shrink its 399 00:22:51,080 --> 00:22:54,000 Speaker 1: balance sheet. Well, Nathan Bloomberg News has learned Bank of 400 00:22:54,040 --> 00:22:56,879 Speaker 1: America plans to bring all its US employees back to 401 00:22:56,960 --> 00:23:00,320 Speaker 1: the office by June one, and that in cludes to 402 00:23:00,320 --> 00:23:03,880 Speaker 1: those who have not been vaccinated against the coronavirus. Sources 403 00:23:03,960 --> 00:23:06,480 Speaker 1: a b of A staff will still have flexibility to 404 00:23:06,520 --> 00:23:09,439 Speaker 1: work from home, but are strongly encouraged to collaborate with 405 00:23:09,520 --> 00:23:13,240 Speaker 1: colleagues in person. Futures this morning are lower S ANDP 406 00:23:13,400 --> 00:23:16,159 Speaker 1: futures down thirty points, at OL futures down one eight 407 00:23:16,280 --> 00:23:18,840 Speaker 1: and AS day futures down one fifty one. Ten year 408 00:23:18,840 --> 00:23:22,560 Speaker 1: treasury down thirty seconds, L two point six three percent, 409 00:23:22,600 --> 00:23:24,680 Speaker 1: and they yield on the two year two point five 410 00:23:24,760 --> 00:23:29,439 Speaker 1: six percent and straight ahead, your latest local headlines, plus 411 00:23:29,520 --> 00:23:37,119 Speaker 1: a check of sports and this is Bloomberg. Okay, Karen, 412 00:23:37,119 --> 00:23:39,800 Speaker 1: thank you to six thirty three on Wall Street, still ragining, 413 00:23:39,840 --> 00:23:42,320 Speaker 1: still forty five degrees in Central Park. Got an accident 414 00:23:42,320 --> 00:23:44,800 Speaker 1: on the upper level of fifty ninth Street bridge heading 415 00:23:44,800 --> 00:23:47,919 Speaker 1: into the city. Tails coming up in traffic. First Michael 416 00:23:47,920 --> 00:23:50,200 Speaker 1: Barr with more on what's going on in New York 417 00:23:50,240 --> 00:23:52,800 Speaker 1: and around the world. Good morning, Michael, Good morning Nathan. 418 00:23:52,800 --> 00:23:56,680 Speaker 1: New York City's incoming subway and bus chiefs as safety 419 00:23:56,720 --> 00:23:59,879 Speaker 1: will be one of the focuses on how to improve service. 420 00:24:00,320 --> 00:24:05,000 Speaker 1: Richard Davy, a former Massachusetts Secretary of Transportation, will be 421 00:24:05,119 --> 00:24:08,240 Speaker 1: the president of the New York City Transit At the 422 00:24:08,440 --> 00:24:11,359 Speaker 1: m t A. Sitting next to General Lieber M t 423 00:24:11,520 --> 00:24:14,800 Speaker 1: A Chief executive officer, Davy says, the writers deserve a 424 00:24:14,840 --> 00:24:18,080 Speaker 1: better system and want a better system. I also did 425 00:24:18,119 --> 00:24:23,159 Speaker 1: see almost folks sleeping on you know, platforms, um and um, 426 00:24:23,480 --> 00:24:26,200 Speaker 1: you know, I did see a fair leader. Davy begins 427 00:24:26,200 --> 00:24:29,280 Speaker 1: his tenure on me second, the House panel investigating the 428 00:24:29,359 --> 00:24:33,320 Speaker 1: Capitol riot questioned of Anka Trump for eight hours, asking 429 00:24:33,359 --> 00:24:36,520 Speaker 1: about her recollections of that day inside the White House 430 00:24:36,560 --> 00:24:40,200 Speaker 1: with her father. Former President Donald Trump. Ivanka Trump served 431 00:24:40,280 --> 00:24:44,040 Speaker 1: as a senior White House advisor during her father's presidency. 432 00:24:44,080 --> 00:24:48,160 Speaker 1: She testified voluntarily. The siblings of Glenn Maxwell say they 433 00:24:48,160 --> 00:24:51,800 Speaker 1: are profoundly shocked and troubled that a judge has rejected 434 00:24:51,840 --> 00:24:55,080 Speaker 1: a new trial despite revelations that a juror who helped 435 00:24:55,080 --> 00:24:58,400 Speaker 1: to convict her failed to disclose he was sexually abused 436 00:24:58,440 --> 00:25:01,480 Speaker 1: as a child. In this statement, the Maxwell family said 437 00:25:01,520 --> 00:25:04,520 Speaker 1: it remains optimistic about an appeal before a panel of 438 00:25:04,640 --> 00:25:08,520 Speaker 1: three Manhattan Appeals judges. The statement came four days after U. S. 439 00:25:08,560 --> 00:25:12,240 Speaker 1: District Judge Allison Nathan wrote she cannot order a retrial 440 00:25:12,640 --> 00:25:16,240 Speaker 1: in the sex trafficking case after determining the juror did 441 00:25:16,280 --> 00:25:20,960 Speaker 1: not deliberately give wrong answers on a juror questionnaire. Authorities 442 00:25:20,960 --> 00:25:23,480 Speaker 1: say one person is dead in Georgia and another in Texas. 443 00:25:23,560 --> 00:25:27,320 Speaker 1: Amid damaging storms, high winds, and tornadoes around the South, 444 00:25:27,720 --> 00:25:30,920 Speaker 1: more than fifty thousand homes and businesses lost power last 445 00:25:31,040 --> 00:25:35,000 Speaker 1: night from eastern Texas to South Carolina. In Crawford County, Georgia, 446 00:25:35,080 --> 00:25:38,359 Speaker 1: this homeowner describes the moment the storm hit. I was 447 00:25:38,400 --> 00:25:40,840 Speaker 1: just standing at the doorway and then I started hearing 448 00:25:40,840 --> 00:25:43,560 Speaker 1: that noise and started seeing the tree started going to circle, 449 00:25:43,880 --> 00:25:45,480 Speaker 1: and I just headed back in. I got a little 450 00:25:45,480 --> 00:25:46,879 Speaker 1: pool table up on there, and I just kind of 451 00:25:46,960 --> 00:25:50,439 Speaker 1: hunkered down. Forecasters say more damaging weather is expected today. 452 00:25:50,680 --> 00:25:54,399 Speaker 1: Recent studies are showing an increase likelihood of being diagnosed 453 00:25:54,400 --> 00:25:58,040 Speaker 1: with diabetes in the months after contracting COVID. Nineteen CDC 454 00:25:58,200 --> 00:26:02,080 Speaker 1: director Dr Rochelle Wilinski, I think as we consider the 455 00:26:02,200 --> 00:26:05,320 Speaker 1: menu of many things that could incorporate be incorporated into 456 00:26:05,359 --> 00:26:08,520 Speaker 1: post COVID conditions, a diabetes certainly should be one of 457 00:26:08,560 --> 00:26:11,640 Speaker 1: those conditions considered. Dr Scholl will end skip Global Names 458 00:26:11,720 --> 00:26:14,040 Speaker 1: twenty four hours a day on air and on Bloomberg 459 00:26:14,119 --> 00:26:17,199 Speaker 1: Quick Take, powered by more than the journalists, analysts, more 460 00:26:17,200 --> 00:26:21,200 Speaker 1: than countries. I'm Michael Barr. This is Bloomberg neither. Thank you, Michael. 461 00:26:25,760 --> 00:26:27,680 Speaker 1: Almost six thirty six on Wall Street. Time for the 462 00:26:27,680 --> 00:26:30,520 Speaker 1: Bloomberg Sports Update once again. John stash Our, All right, 463 00:26:30,600 --> 00:26:32,840 Speaker 1: Nathan zagger Woods says he's hitting the golf ball well. 464 00:26:32,920 --> 00:26:36,439 Speaker 1: The hard part will be walking between shots, he says, Augusta, Nashville, 465 00:26:36,480 --> 00:26:38,679 Speaker 1: not an easy walked up again with let alone for 466 00:26:38,760 --> 00:26:42,000 Speaker 1: someone fourty six years old who has had multiple back 467 00:26:42,000 --> 00:26:44,560 Speaker 1: in the surgeries and was in a life threatening car 468 00:26:44,600 --> 00:26:47,199 Speaker 1: accident fourteen months ago. But Tiger said to make his 469 00:26:47,280 --> 00:26:49,920 Speaker 1: return at the Masters, he's won it five times. He 470 00:26:50,040 --> 00:26:52,520 Speaker 1: teas off tomorrow morning around ten thirty and hopes to 471 00:26:52,560 --> 00:26:55,280 Speaker 1: play all four rounds. It's the recovery, you know, how 472 00:26:55,359 --> 00:26:57,679 Speaker 1: How am I gonna get all the swelling out and 473 00:26:57,880 --> 00:27:01,120 Speaker 1: recover for the next day? And and uh, my team 474 00:27:01,160 --> 00:27:05,520 Speaker 1: has been fantastic and worked very hard. Um, so I've 475 00:27:05,520 --> 00:27:08,440 Speaker 1: got another day of nine more holes and um then 476 00:27:08,440 --> 00:27:10,919 Speaker 1: come game time. Tanker said he's excited about the challenge, 477 00:27:11,000 --> 00:27:13,560 Speaker 1: has always said he believes he can win. Hourly Masters 478 00:27:13,640 --> 00:27:15,920 Speaker 1: updates here on Bloomberg Radio on a wrap up show 479 00:27:15,920 --> 00:27:18,520 Speaker 1: each night. At eleven Nets in Brooklyn against the Rockets, 480 00:27:18,520 --> 00:27:20,880 Speaker 1: there were twenty and sixty used to hung in the game, 481 00:27:20,920 --> 00:27:23,600 Speaker 1: getting sixty six points from the backcourt of Kevin Porter 482 00:27:23,680 --> 00:27:26,080 Speaker 1: and Jalen Green. Mac Kyrie Irvan scored forty two points 483 00:27:26,080 --> 00:27:28,679 Speaker 1: the Nets one one oh five Rangers beat the Devil's 484 00:27:28,680 --> 00:27:31,840 Speaker 1: three one. Islanders lost in Dallas three one three two. 485 00:27:32,200 --> 00:27:34,680 Speaker 1: Yankees need to bring some extra chairs out to the bullpen. 486 00:27:34,720 --> 00:27:38,040 Speaker 1: They set their roster headed north with only three reserves 487 00:27:38,160 --> 00:27:42,119 Speaker 1: sixteen pictures. Yanks opener tomorrow at the stadium against the 488 00:27:42,160 --> 00:27:45,159 Speaker 1: Red Sox. Weather permitting the Mets to open tomorrow in Washington. 489 00:27:45,240 --> 00:27:48,240 Speaker 1: Max Ers are unlikely to pitch due to a tight hamstring. 490 00:27:48,240 --> 00:27:49,840 Speaker 1: The Mets hope sure as we can make his Mets 491 00:27:49,840 --> 00:27:53,639 Speaker 1: debut on Friday. MLB has, okay, the use of pitch Calm, 492 00:27:54,080 --> 00:27:56,639 Speaker 1: a device where a catcher can communicate with a picture 493 00:27:56,680 --> 00:27:58,639 Speaker 1: by the use of a will push up a button. 494 00:27:58,720 --> 00:28:01,440 Speaker 1: The hope is it's the end of signs stealing. John 495 00:28:01,480 --> 00:28:05,160 Speaker 1: Stashar Boomberg Sports. Okay, John, thank you. Six thirty seven 496 00:28:05,200 --> 00:28:07,160 Speaker 1: on Wall Street Time. Now to take a look at stock, 497 00:28:07,280 --> 00:28:09,000 Speaker 1: some of the names moving in the pre market with 498 00:28:09,000 --> 00:28:12,720 Speaker 1: Bloomberg Radio and TV Markets correspondent Created Gupta once again 499 00:28:12,760 --> 00:28:17,160 Speaker 1: created seeing moves to the downside, particularly in tech. Yeah, 500 00:28:17,240 --> 00:28:18,879 Speaker 1: a lot of it is going to be a reaction 501 00:28:18,880 --> 00:28:20,400 Speaker 1: to what you're seeing in the bond marketing guy, John 502 00:28:20,400 --> 00:28:23,280 Speaker 1: Tucker just talk about an eight months slide, uh, when 503 00:28:23,280 --> 00:28:25,120 Speaker 1: we're talking about bond selling off. But take a look 504 00:28:25,160 --> 00:28:27,400 Speaker 1: at this, Nathan. It is six thirty seven, Like you said, 505 00:28:27,440 --> 00:28:30,720 Speaker 1: you already have a ten basis point move, or almost 506 00:28:30,760 --> 00:28:33,119 Speaker 1: ten based point move in the tenure yield upwards. That 507 00:28:33,160 --> 00:28:34,960 Speaker 1: of course is going to hit Tech and those are 508 00:28:35,000 --> 00:28:37,000 Speaker 1: gonna be some of your major movers, probably why you're 509 00:28:37,000 --> 00:28:38,320 Speaker 1: starting to see a lot of red on the screen. 510 00:28:38,400 --> 00:28:40,280 Speaker 1: Let me just go through some of them here. Twitter, 511 00:28:40,400 --> 00:28:42,480 Speaker 1: for example, t W t R is going to be 512 00:28:42,560 --> 00:28:44,560 Speaker 1: a very high volume one down one point four percent. 513 00:28:44,640 --> 00:28:47,160 Speaker 1: We'll get to why on more on that one in 514 00:28:47,200 --> 00:28:48,960 Speaker 1: a second, but let's talk about the heavy waiter tier. 515 00:28:49,000 --> 00:28:51,000 Speaker 1: Apple is a big one. A A p L is 516 00:28:51,040 --> 00:28:53,960 Speaker 1: your taker down one percent this morning, and Video is 517 00:28:53,960 --> 00:28:55,720 Speaker 1: going to be another one. The chip maker of course, 518 00:28:55,880 --> 00:28:58,840 Speaker 1: n v d A down two and a half percent. 519 00:28:58,960 --> 00:29:02,400 Speaker 1: Tesla also taking hit t s l A down to percent. 520 00:29:02,440 --> 00:29:05,320 Speaker 1: Remember Tesla has actually been leading a lot of those 521 00:29:05,480 --> 00:29:08,680 Speaker 1: games in the sp the NASTAC for the last two sessions, 522 00:29:08,680 --> 00:29:10,360 Speaker 1: So that's really something you want to keep in mind. 523 00:29:10,760 --> 00:29:13,240 Speaker 1: As you start to see these bond yields get higher 524 00:29:13,240 --> 00:29:15,120 Speaker 1: and higher, it's going to hit tech. Now. Remember we 525 00:29:15,160 --> 00:29:17,800 Speaker 1: talked about this inverse correlation all the time that the 526 00:29:17,840 --> 00:29:19,600 Speaker 1: text is gonna drop every time yields are higher. But 527 00:29:19,600 --> 00:29:21,880 Speaker 1: it's not every time yields are higher. It's every time 528 00:29:21,960 --> 00:29:24,560 Speaker 1: yields are higher. By this much of a margin ten 529 00:29:24,600 --> 00:29:27,000 Speaker 1: basis points, four teen basis points. I think we were 530 00:29:27,080 --> 00:29:29,400 Speaker 1: up seventeen basis points yesterday and you saw the Nastac 531 00:29:29,480 --> 00:29:31,800 Speaker 1: taking an enormous hit. So it really does come down 532 00:29:31,840 --> 00:29:33,920 Speaker 1: to the margin of the move when it comes to 533 00:29:33,960 --> 00:29:35,320 Speaker 1: the bonds based and that of course is going to 534 00:29:35,440 --> 00:29:38,120 Speaker 1: kill tech today. Yeah, we're seeing Nastack futures. Well, we're 535 00:29:38,160 --> 00:29:40,560 Speaker 1: by another one point one percent in the pre market. 536 00:29:40,560 --> 00:29:42,480 Speaker 1: We've been talking as well about this this morning. I 537 00:29:42,480 --> 00:29:45,760 Speaker 1: know you've been watching it createies some takeover drama in 538 00:29:46,000 --> 00:29:49,160 Speaker 1: ultra low cost air travel. You know, it's fascinating, Nathan, 539 00:29:49,200 --> 00:29:51,640 Speaker 1: because there's so much cash in the system right now. 540 00:29:51,640 --> 00:29:52,880 Speaker 1: I think a lot of people are saying, well, if 541 00:29:52,840 --> 00:29:54,800 Speaker 1: we're not going to use buybacks, what are we going 542 00:29:54,840 --> 00:29:56,880 Speaker 1: to use it on? A lot of the question ends 543 00:29:56,920 --> 00:29:59,600 Speaker 1: up becoming mergers and acquisitions, and that's really where Spirit 544 00:29:59,600 --> 00:30:02,680 Speaker 1: Airline comes into focus. This morning, s a V is 545 00:30:02,680 --> 00:30:05,960 Speaker 1: your ticker down two point three percent. This comes after 546 00:30:05,960 --> 00:30:08,880 Speaker 1: the budget carrier received a three point six billion dollar 547 00:30:09,000 --> 00:30:13,560 Speaker 1: takeover offer from Jet Blue. It was unsolicited, and it 548 00:30:13,680 --> 00:30:16,560 Speaker 1: also the offer tops a competing bid by Frontier Group 549 00:30:16,560 --> 00:30:18,400 Speaker 1: A couple of weeks ago we talked about this major 550 00:30:18,440 --> 00:30:22,600 Speaker 1: deal between Frontier and Spirit essentially kind of forming together 551 00:30:23,040 --> 00:30:25,880 Speaker 1: a super budget group, if you will. Essentially, for our 552 00:30:25,920 --> 00:30:30,120 Speaker 1: European listeners, is the equivalent of Ryanair here in the state. UM. 553 00:30:30,160 --> 00:30:32,280 Speaker 1: But nevertheless, they said it was unsolicited, but they are 554 00:30:32,360 --> 00:30:35,600 Speaker 1: going to consider the offer and give a return answer 555 00:30:35,960 --> 00:30:38,320 Speaker 1: in due course. Jet Blue shares j b l U 556 00:30:38,720 --> 00:30:41,800 Speaker 1: also down this morning, down four percent, So it's unclear 557 00:30:41,880 --> 00:30:44,480 Speaker 1: if there's a ton of investor optimism right now. Nathan 558 00:30:44,480 --> 00:30:47,160 Speaker 1: has promises quickly hit Twitter t W t R down 559 00:30:47,240 --> 00:30:49,400 Speaker 1: one point three percent. This of course comes after Elon 560 00:30:49,480 --> 00:30:52,520 Speaker 1: Musk refile the disclosure of a state to classify himself 561 00:30:52,640 --> 00:30:55,320 Speaker 1: as an active investor. May have talked out there, okay. 562 00:30:55,320 --> 00:30:58,240 Speaker 1: Bloomberg Radio and TV Markets correspondent Creedy grouped up with 563 00:30:58,320 --> 00:31:00,360 Speaker 1: us this morning. As we look at stun as a 564 00:31:00,400 --> 00:31:03,240 Speaker 1: whole head of the open, it's pointing to a lower 565 00:31:03,280 --> 00:31:06,120 Speaker 1: open with SMP futures down down thirty one points down, 566 00:31:06,120 --> 00:31:09,600 Speaker 1: futures down a d eighty five, NASDAC futures leading the declines, 567 00:31:09,640 --> 00:31:12,320 Speaker 1: as we mentioned, down a hundred sixty two points, a 568 00:31:12,440 --> 00:31:16,200 Speaker 1: drop of one point one per cent. You're listening to 569 00:31:16,360 --> 00:31:24,480 Speaker 1: Bloomberg Daybreak Bloomberg eleven three Oh weather, it's raining, but 570 00:31:24,520 --> 00:31:26,640 Speaker 1: it'll end by midday. Will be in the high little 571 00:31:26,720 --> 00:31:29,480 Speaker 1: below fifties for highest today, mid fifties tomorrow with scattered 572 00:31:29,480 --> 00:31:32,760 Speaker 1: showers and storms, low sixties by Friday. Right now forty 573 00:31:32,800 --> 00:31:40,760 Speaker 1: five in Central Park Markets, headlines and breaking news twenty 574 00:31:40,760 --> 00:31:43,600 Speaker 1: four hours a day at Bloomberg dot com, the Bloomberg 575 00:31:43,640 --> 00:31:47,200 Speaker 1: Business at and at Bloomberg Quick tape is a Bloomberg 576 00:31:47,280 --> 00:31:56,440 Speaker 1: Business lash and I'm Karin Moscow. US dot Index futures 577 00:31:56,480 --> 00:31:59,760 Speaker 1: are lower treasuries extending their saline. We go to the 578 00:31:59,800 --> 00:32:02,360 Speaker 1: first Sword breaking news desk for today's morning call, and 579 00:32:02,400 --> 00:32:05,440 Speaker 1: here's Bill Maloney. Bill, good morning, and good morning, Karen. 580 00:32:05,440 --> 00:32:07,880 Speaker 1: That's right. US features are under pressure right now at 581 00:32:07,880 --> 00:32:11,040 Speaker 1: DEAF Futures down point says to be strup fifty seven, 582 00:32:11,040 --> 00:32:14,480 Speaker 1: while NAS deck features are down by three. The US 583 00:32:14,560 --> 00:32:16,920 Speaker 1: A ten year old jumps to two point six five percent, 584 00:32:17,080 --> 00:32:19,840 Speaker 1: Gold is up three, oil is climbing, and bitcoin is 585 00:32:19,880 --> 00:32:22,760 Speaker 1: down by one point one percent. Japan fell one point 586 00:32:22,840 --> 00:32:25,080 Speaker 1: six percent overnight, while up and markets are also in 587 00:32:25,120 --> 00:32:27,120 Speaker 1: the red this morning, and back in the US on 588 00:32:27,160 --> 00:32:29,640 Speaker 1: the economic frone at two o'clock minutes from the f 589 00:32:29,720 --> 00:32:32,920 Speaker 1: O m C. After the bells night, Spirit Airlines confirmed 590 00:32:32,920 --> 00:32:35,240 Speaker 1: the proposal from Jet Blue for three three dollars to 591 00:32:35,320 --> 00:32:39,280 Speaker 1: share in cash and regarding earnings. This morning, Greenbrier EPs 592 00:32:39,480 --> 00:32:43,120 Speaker 1: Feed estimates, wrapping things up, Jazz Farm, moos Cuting, Neutral, Bowman, Sax. 593 00:32:43,200 --> 00:32:47,280 Speaker 1: PayPal was rated a new equal weight over at Stevens Live. 594 00:32:47,320 --> 00:32:49,520 Speaker 1: From the first to Breaking News Desk on Bill Maloney. Karen, 595 00:32:49,800 --> 00:32:51,760 Speaker 1: all right, Bill, thank you, and here lie breaking news 596 00:32:51,760 --> 00:32:54,440 Speaker 1: over your Bloomberg tip squawk on your terminal SQ you 597 00:32:54,520 --> 00:32:57,040 Speaker 1: a w K and that's a Bloomberg business flash. Now 598 00:32:57,080 --> 00:32:59,360 Speaker 1: here's Michael Barr with more on what's going on around 599 00:32:59,360 --> 00:33:02,640 Speaker 1: the world. Off, Karen, thank you very much. China says 600 00:33:02,680 --> 00:33:06,040 Speaker 1: the reports and images of civilian deaths in the Ukrainian 601 00:33:06,080 --> 00:33:10,680 Speaker 1: town of Bucha are deeply disturbing as calling for an investigation. 602 00:33:11,080 --> 00:33:14,800 Speaker 1: It comes as Western governments are preparing tougher sanctions against Russia. 603 00:33:15,160 --> 00:33:18,040 Speaker 1: China reported more than twenty thousand new daily COVID cases. 604 00:33:18,440 --> 00:33:22,240 Speaker 1: It's driven by surging infections in Shanghai. In golf, tiger 605 00:33:22,240 --> 00:33:24,920 Speaker 1: Wood says, for now he'll probably tee off at the 606 00:33:24,960 --> 00:33:28,880 Speaker 1: Master's Golf tournament in Augusta, Georgia tomorrow, following a fourteen 607 00:33:28,920 --> 00:33:32,320 Speaker 1: month recovery from a near fatal car crash that almost 608 00:33:32,320 --> 00:33:35,280 Speaker 1: cost him his leg. Stay tuned for updates every hour 609 00:33:35,400 --> 00:33:39,040 Speaker 1: on Bloomberg Radio and a special edition of Masters Tonight 610 00:33:39,280 --> 00:33:42,360 Speaker 1: coming up at eleven pm the Eastern Time. In the NBA, 611 00:33:42,440 --> 00:33:44,840 Speaker 1: the Nets and Wizards one. In the NHL, the Rangers 612 00:33:44,840 --> 00:33:47,920 Speaker 1: beat the Devil's Three one, the Islanders and Bruins lost. 613 00:33:48,200 --> 00:33:50,920 Speaker 1: Global news twenty four hours a day on air and 614 00:33:51,120 --> 00:33:54,400 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred 615 00:33:54,440 --> 00:33:57,000 Speaker 1: journalists and analysts more than a hundred twenty countries. I'm 616 00:33:57,000 --> 00:34:00,080 Speaker 1: Michael barn this is Bloomberg, Karen, alright, Michaels, thank you. 617 00:34:00,240 --> 00:34:02,719 Speaker 1: Sixty nine on Wall Street, we turned to news and 618 00:34:02,760 --> 00:34:05,400 Speaker 1: science and technology Now at the Bloomberg and j I 619 00:34:05,520 --> 00:34:08,520 Speaker 1: T STEM Report Bronzi U buy New Jersey Institute of 620 00:34:08,600 --> 00:34:12,080 Speaker 1: Technology n j I T makes industry ready engineers and 621 00:34:12,160 --> 00:34:14,560 Speaker 1: more than twenty fields. If it's engineering, it's at n 622 00:34:14,640 --> 00:34:16,920 Speaker 1: j I T. Learn more at n j I T 623 00:34:17,160 --> 00:34:19,200 Speaker 1: dot E d U I know, here's just making news 624 00:34:19,200 --> 00:34:23,040 Speaker 1: and science, technology, engineering and math. According to an Israeli study, 625 00:34:23,080 --> 00:34:26,960 Speaker 1: a fourth dose of Fiser's COVID nineteen vaccine improves protection 626 00:34:27,000 --> 00:34:30,480 Speaker 1: against infection and severe illness. The findings, published today in 627 00:34:30,520 --> 00:34:32,840 Speaker 1: New England Journal of Medicine, were based on data for 628 00:34:32,960 --> 00:34:35,840 Speaker 1: one point two million people ages sixty years and older. 629 00:34:36,080 --> 00:34:38,799 Speaker 1: About half of the participants had a fourth jab, while 630 00:34:38,840 --> 00:34:41,240 Speaker 1: the rest had only the third. The rate of severe 631 00:34:41,280 --> 00:34:43,760 Speaker 1: illness among those who received a fourth dose was about 632 00:34:43,800 --> 00:34:46,680 Speaker 1: three times lower than those who had received only a 633 00:34:46,719 --> 00:34:50,359 Speaker 1: third dose. In England, last month, COVID infections reached their 634 00:34:50,440 --> 00:34:53,160 Speaker 1: highest levels since the pandemic began. That's according to a 635 00:34:53,200 --> 00:34:55,640 Speaker 1: new study. It found the search was driven by the 636 00:34:55,680 --> 00:34:59,160 Speaker 1: omicron veryan b h Q and by waning immunity among 637 00:34:59,160 --> 00:35:02,480 Speaker 1: older adults who received their booster shots earlier compared to 638 00:35:02,520 --> 00:35:06,120 Speaker 1: other age groups. Now says Dress rehearsal for its Mega 639 00:35:06,200 --> 00:35:09,360 Speaker 1: Moon rocket is off until at least this weekend because 640 00:35:09,400 --> 00:35:12,640 Speaker 1: of a pair of technical problems that kept stalling a 641 00:35:12,719 --> 00:35:16,759 Speaker 1: fueling test. Launch managers tried twice to load nearly one 642 00:35:16,800 --> 00:35:19,960 Speaker 1: million gallons of fuel into the three two foot rocket 643 00:35:20,000 --> 00:35:23,600 Speaker 1: known as Space Launch System Countdown test is the last 644 00:35:23,680 --> 00:35:27,320 Speaker 1: major milestone before the rockets long awaited launch debut, and 645 00:35:27,400 --> 00:35:31,280 Speaker 1: that's a Bloomberg n j I t Stem report. Nathan Okay, Karen, Thanks. 646 00:35:31,320 --> 00:35:34,000 Speaker 1: We are live from the Bloomberg Interactive Brokers Studios or 647 00:35:34,000 --> 00:35:36,319 Speaker 1: at six fifty on Wall Street Time now to check 648 00:35:36,360 --> 00:35:38,239 Speaker 1: what's going on in d C. Some of the top 649 00:35:38,280 --> 00:35:41,200 Speaker 1: stories in our nation's capital include the US, EU and 650 00:35:41,440 --> 00:35:45,200 Speaker 1: G seven already in new sanctions against Russia, an amendment 651 00:35:45,239 --> 00:35:48,040 Speaker 1: dispute stalling the COVID spending bill in the Senate, and 652 00:35:48,080 --> 00:35:51,880 Speaker 1: Ivanka Trump questioned for eight hours in the capitol. Ryant probe. 653 00:35:52,239 --> 00:35:55,359 Speaker 1: Also making news this morning, an x oligarch who says 654 00:35:55,440 --> 00:35:59,759 Speaker 1: Russian President Vladimir Putenci's war with the West already under 655 00:36:00,360 --> 00:36:02,280 Speaker 1: Let's get more on this now and the other stories 656 00:36:02,320 --> 00:36:05,600 Speaker 1: from Bloomberg. Government reporter Emily Wilkins joining us from the 657 00:36:05,680 --> 00:36:09,880 Speaker 1: nation's capital. Very interesting story Emily on the Bloomberg terminal 658 00:36:09,920 --> 00:36:12,560 Speaker 1: this morning. An interview with the former head of yukos Oil, 659 00:36:12,640 --> 00:36:17,200 Speaker 1: Michail Kordakovski. What's he's saying about what Putin is thinking 660 00:36:17,239 --> 00:36:20,200 Speaker 1: about the war in Ukraine? You think one of the 661 00:36:20,200 --> 00:36:23,319 Speaker 1: really interesting things to emerge from this interview with him. 662 00:36:23,840 --> 00:36:26,320 Speaker 1: You know, you've seen the US try and be so 663 00:36:26,320 --> 00:36:30,360 Speaker 1: so careful about not escalating things with Putin, about saying 664 00:36:30,400 --> 00:36:32,799 Speaker 1: that they don't want the US and Russia to be 665 00:36:32,880 --> 00:36:37,120 Speaker 1: directly engaged in conflict. But according to what we're hearing 666 00:36:37,239 --> 00:36:41,400 Speaker 1: from this former head of Yukos Oil Company, Putin already 667 00:36:41,480 --> 00:36:44,959 Speaker 1: sees that he's at war with the West. Um. That's 668 00:36:45,000 --> 00:36:48,279 Speaker 1: his perspective, even though the currently the fighting is only 669 00:36:48,280 --> 00:36:53,080 Speaker 1: in Ukraine. Uh. He doesn't believe, per the former oligarch, 670 00:36:53,480 --> 00:36:56,600 Speaker 1: that if he invaded the Boltics, that US and NATO 671 00:36:56,600 --> 00:37:00,399 Speaker 1: would do anything. He sees NATO as weak um and 672 00:37:00,640 --> 00:37:03,680 Speaker 1: he and that could mean that, you know, potentially this 673 00:37:03,719 --> 00:37:06,880 Speaker 1: war is going to spread further than Ukraine, that we 674 00:37:07,000 --> 00:37:11,480 Speaker 1: could see a potential escalation if this is indeed Putin thinking, 675 00:37:12,000 --> 00:37:14,480 Speaker 1: And it is interesting insight as we are hearing this 676 00:37:14,560 --> 00:37:18,319 Speaker 1: morning from Ukrainian President Zelinsky saying Russia hasn't given up 677 00:37:18,360 --> 00:37:22,000 Speaker 1: its ambitions to take over all of his country. Given 678 00:37:22,200 --> 00:37:25,960 Speaker 1: what Kodakovski is saying, Emily, what does this mean about 679 00:37:26,000 --> 00:37:29,359 Speaker 1: the impact of sanctions that have already been imposed and 680 00:37:29,440 --> 00:37:33,400 Speaker 1: as the US and allies consider even further ratcheting of 681 00:37:33,440 --> 00:37:38,080 Speaker 1: punishments on the Russian economy. Well, Kodakowski said that economic 682 00:37:38,120 --> 00:37:41,520 Speaker 1: sanctions alone don't scare Putin. Many things, the US needs 683 00:37:41,560 --> 00:37:45,200 Speaker 1: to show Putin a consistent policy of force. Now there 684 00:37:45,239 --> 00:37:48,560 Speaker 1: wasn't a ton of elaboration on that. There's really still 685 00:37:48,640 --> 00:37:53,360 Speaker 1: not the appetite within Washington to actually send American troops 686 00:37:53,440 --> 00:37:56,480 Speaker 1: over to Ukraine or to institute a no fly zone. 687 00:37:56,760 --> 00:38:00,600 Speaker 1: But but Biden has been very adamant that should Putin 688 00:38:00,680 --> 00:38:03,840 Speaker 1: go ahead and attack a NATO nation, that the US 689 00:38:03,920 --> 00:38:06,360 Speaker 1: will respond, that they will live up to their Article 690 00:38:06,480 --> 00:38:10,120 Speaker 1: five duties and defend their allies in that regard. So 691 00:38:10,160 --> 00:38:13,920 Speaker 1: I think at this point it sounds like the concerns 692 00:38:14,000 --> 00:38:17,560 Speaker 1: certainly is what happens if this war spreads to a 693 00:38:17,640 --> 00:38:21,480 Speaker 1: NATO country, And and based on what we're hearing from Kardakovsky, 694 00:38:21,880 --> 00:38:25,480 Speaker 1: Putin's mind is already there. So what's on the table 695 00:38:25,520 --> 00:38:30,040 Speaker 1: now as the US and allies consider even further sanctions 696 00:38:30,080 --> 00:38:32,759 Speaker 1: on Russia? We heard about the cold band from the 697 00:38:32,760 --> 00:38:37,520 Speaker 1: EU yesterday, what more could be coming? So we're definitely 698 00:38:37,640 --> 00:38:39,719 Speaker 1: seeing about the cold band on the EU and the 699 00:38:39,880 --> 00:38:44,000 Speaker 1: US also discussing sanctioning of Putin's daughters. We don't know 700 00:38:44,320 --> 00:38:47,520 Speaker 1: much about his daughter's but the hope is that the 701 00:38:47,560 --> 00:38:52,040 Speaker 1: sanctions continue to ratchet of pressure within his inner circle. Um. 702 00:38:52,080 --> 00:38:55,000 Speaker 1: The US is also looking to ban investments in the country. 703 00:38:55,320 --> 00:38:58,520 Speaker 1: White House Press Secretary Jen Saki said yesterday that government's 704 00:38:58,520 --> 00:39:02,160 Speaker 1: plan to increase penalties on Russian financial institutions and state 705 00:39:02,200 --> 00:39:06,239 Speaker 1: owned enterprises and will sanction other Russian officials and their 706 00:39:06,280 --> 00:39:10,400 Speaker 1: family members. What's the hold up on sanctioning Russian oil 707 00:39:10,440 --> 00:39:14,280 Speaker 1: and gas? It seems like that's been the real sticking 708 00:39:14,320 --> 00:39:18,280 Speaker 1: point here, something that Europe in particular has been very 709 00:39:18,280 --> 00:39:22,520 Speaker 1: reticent of targeting. Why not at this point after particularly 710 00:39:22,560 --> 00:39:26,680 Speaker 1: the atrocities that we've seen allegedly coming out of formally 711 00:39:26,760 --> 00:39:31,360 Speaker 1: Russian occupied territory Northern Ukraine. For Europe, a lot of 712 00:39:31,360 --> 00:39:34,400 Speaker 1: the concern is just that so much of their oil, 713 00:39:34,560 --> 00:39:37,480 Speaker 1: such a large percentage of it is coming from Russia 714 00:39:37,560 --> 00:39:40,000 Speaker 1: at this point, and there's you know, the US is 715 00:39:40,040 --> 00:39:42,680 Speaker 1: trying to figure out ways to make sure that Europe 716 00:39:42,719 --> 00:39:45,560 Speaker 1: is getting more oil and more gas that they don't 717 00:39:45,600 --> 00:39:48,920 Speaker 1: have to be reliant on Russia. You saw that release 718 00:39:49,200 --> 00:39:52,759 Speaker 1: of this from the Strategic Petroleum Reserve announced the other week. 719 00:39:53,400 --> 00:39:55,160 Speaker 1: But I mean, part of it is that it's just 720 00:39:55,280 --> 00:39:58,000 Speaker 1: not as easy as it is for the US, UH 721 00:39:58,200 --> 00:40:01,399 Speaker 1: for some of these European nations to really cut off 722 00:40:01,440 --> 00:40:04,839 Speaker 1: their reliance on on Russian oil. I want to turn 723 00:40:04,960 --> 00:40:08,680 Speaker 1: quickly to some domestic matters as well. Their debate is 724 00:40:08,760 --> 00:40:12,280 Speaker 1: underway in the Senate on COVID funding, but it looks 725 00:40:12,280 --> 00:40:15,279 Speaker 1: like it's hit a snag. Yes, so it's a ten 726 00:40:15,320 --> 00:40:18,440 Speaker 1: billion dollar package. Uh. The idea is that it will 727 00:40:18,480 --> 00:40:21,960 Speaker 1: continue to allow the US to produces vaccines and other 728 00:40:22,080 --> 00:40:25,040 Speaker 1: medicines to sort of prevent and help those have been 729 00:40:25,120 --> 00:40:28,359 Speaker 1: infected with COVID. But I'm tied up in an immigration 730 00:40:28,440 --> 00:40:33,360 Speaker 1: related provision title for you to which basically allowed the 731 00:40:33,360 --> 00:40:37,640 Speaker 1: Trump administration to bar migrants from crossing the border under 732 00:40:37,680 --> 00:40:41,279 Speaker 1: concerns that they would bring the virus into the US. 733 00:40:41,320 --> 00:40:43,839 Speaker 1: That's still in place right now, but the Biden administration 734 00:40:43,880 --> 00:40:46,600 Speaker 1: has announced that they want to repeal it around May 735 00:40:46,680 --> 00:40:51,000 Speaker 1: twenty three. That has a lot of Republican consenators concerned, 736 00:40:51,120 --> 00:40:53,480 Speaker 1: and even more so, it has a number of moderate 737 00:40:53,520 --> 00:40:57,880 Speaker 1: Democrats and Democratic senators facing tough elections in the fall concern. 738 00:40:58,320 --> 00:41:01,560 Speaker 1: And you've seen them join force is with these Republicans 739 00:41:01,840 --> 00:41:04,640 Speaker 1: and say that you know, they want to They're concerned 740 00:41:04,640 --> 00:41:08,040 Speaker 1: about this band being lifted. They're concerned about an influx 741 00:41:08,040 --> 00:41:11,920 Speaker 1: of immigrants crossing at the southern border, and it's unclear 742 00:41:12,000 --> 00:41:14,720 Speaker 1: exactly what the fate of this package is going to be. 743 00:41:15,000 --> 00:41:17,239 Speaker 1: A Republicans say that they want to vote on an 744 00:41:17,239 --> 00:41:20,960 Speaker 1: amendment to stop the repeal of Title forty two to 745 00:41:21,080 --> 00:41:24,400 Speaker 1: keep that in place. Uh. Senator Meant Rodney, who negotiate 746 00:41:24,440 --> 00:41:27,319 Speaker 1: this package, believes that if that happens, that Republicans will 747 00:41:27,360 --> 00:41:30,040 Speaker 1: have the votes to move the package. And now kind 748 00:41:30,080 --> 00:41:32,920 Speaker 1: of things are in Senator Chuck Schumer's lab. They were 749 00:41:32,920 --> 00:41:36,120 Speaker 1: really hoping to pass this legislation before everyone went home 750 00:41:36,640 --> 00:41:39,440 Speaker 1: for the Eastern Recess on Friday. The House was supposed 751 00:41:39,440 --> 00:41:42,239 Speaker 1: to leave on Thursday. But Nathan, that's looking less and 752 00:41:42,280 --> 00:41:46,400 Speaker 1: less likely now. Oh so there's a possibility then, just quickly, 753 00:41:46,440 --> 00:41:49,239 Speaker 1: that they need more time even into the recess to 754 00:41:49,239 --> 00:41:52,720 Speaker 1: get this done. Thirty seconds left, Emily, if they decide 755 00:41:52,760 --> 00:41:56,000 Speaker 1: to go for it, yes, otherwise they could always break 756 00:41:56,040 --> 00:41:58,520 Speaker 1: for recess pick it up when they come back. Um. 757 00:41:58,560 --> 00:42:00,640 Speaker 1: I think right now, really the ball is been Senator 758 00:42:00,719 --> 00:42:02,719 Speaker 1: Chuck Schomer's court as to how they move on that. 759 00:42:03,000 --> 00:42:05,640 Speaker 1: All right, Emily Wilkins of Bloomberg Government. As always, thanks 760 00:42:05,680 --> 00:42:08,440 Speaker 1: for the update from Washington. Read more about these stories 761 00:42:08,480 --> 00:42:11,200 Speaker 1: on Bloomberg dot Com or on the Bloomberg terminal. Listen 762 00:42:11,239 --> 00:42:15,399 Speaker 1: to Bloomberg Radio in the nation's capital, Bloomberg and one 763 00:42:15,400 --> 00:42:18,800 Speaker 1: oh five point seven FM h D two SMP future 764 00:42:18,840 --> 00:42:20,920 Speaker 1: is now down thirty three points, Stown futures down a 765 00:42:20,960 --> 00:42:23,640 Speaker 1: hundred eighty eight Nastack futures are lower by a hundred 766 00:42:23,719 --> 00:42:27,120 Speaker 1: sixty six points, and the bond sell off continues this morning, 767 00:42:27,120 --> 00:42:30,080 Speaker 1: with the tenure Treasury now down twenty five thirty seconds, 768 00:42:30,360 --> 00:42:33,160 Speaker 1: the yield two point six four percent, yield on the 769 00:42:33,200 --> 00:42:36,479 Speaker 1: two year two point five six percent. On a morning 770 00:42:36,480 --> 00:42:39,360 Speaker 1: where we await the minutes from the FEDS March meeting 771 00:42:39,400 --> 00:42:42,600 Speaker 1: and more clues on the rate path and the balance sheet. 772 00:42:42,760 --> 00:42:46,680 Speaker 1: Bloomberg Surveillance up next for Karen Moscow. I'm Nathan Hagar, 773 00:42:46,800 --> 00:42:48,040 Speaker 1: and this is Bloomberg