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Speaker 1: Live from the Bloomberg Interactor Brooker Studios. This is Bloomberg

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Speaker 1: Daybreak for Monday, February two. Coming up this hour, talks

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Speaker 1: between Ukraine and Russia set for this morning. Global team

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Speaker 1: coverage on the conflict. Straight ahead, Equity sell off, Treasury

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Speaker 1: yields fall, and the dollar strengthens as the West isolates

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Speaker 1: Russia and oil soars. Has more sanctions caused fears of

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Speaker 1: an energy crisis. It's a milestone for coronavirus mandates in

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Speaker 1: New York State, plus North Korea's ramping up tension while

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Speaker 1: the world is focused on Ukraine. I'm Michael Larer. More Ahead,

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Speaker 1: I'm John stash Our and sports the Nixon Rangers. Both

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Speaker 1: walk games with the Gardener shoutout win for the Islanders,

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Speaker 1: a Biggis loss for st. John. That's all straight ahead

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Speaker 1: on Bloomberg day Break on Bloomberg eleven, Tree on New York,

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Speaker 1: Bloomberg nine one, Washington, d C, Bloomberg one oh six one, Boston,

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Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nine

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Speaker 1: Team and around the world Old on Bloomberg Radio dot

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Speaker 1: Com and via the Bloomberg Business Set. Good morning, I'm

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Speaker 1: Nathan Hager and I'm Karen Moscow. Global stocks are tumbling

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Speaker 1: and Haven's are rising this morning. We're coming up to

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Speaker 1: five oh one on Wall Street, and we check the

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Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg

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Speaker 1: S and P futures lower down a sixties seven points down,

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Speaker 1: futures down four hundred thirty five and ASDAK futures down

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Speaker 1: one hundred ninety four. Ten year treasury at fourteen thirty seconds,

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Speaker 1: he had one point nine one per cent and they

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Speaker 1: yield on the two year one point for nine percent. Nathan, Karen,

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Speaker 1: we begin with the latest out of Eastern Europe this morning.

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Speaker 1: There is word Ukrainian officials planned to meet with Russia

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Speaker 1: and Belarus is preparing to send troops into Ukraine. Amy

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Speaker 1: Morris kicks off our global team coverage from our Bloomberg

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Speaker 1: newsroom in Washington. Hours after Vladimir Putin put his country's

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Speaker 1: nuclear forces on higher alert. Ukrainian officials planted negotiations near

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Speaker 1: the border with Belarus, but the wash Rington Post is

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Speaker 1: quoting an unnamed US official that Belarus is preparing to

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Speaker 1: send troops into Ukraine as soon as today to help

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Speaker 1: Russia Senator Mark Warner on the Senate Intelligence Committee tells

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Speaker 1: NBC's Meet the Press, Vladimir Putin may have miscalculated. And

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Speaker 1: when you are an authoritarian leader and you have less

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Speaker 1: and less inputs and you're only hearing from people that

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Speaker 1: want to say to the boss, heye, you're right, I

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Speaker 1: think that leads to miscmpulation. I think that is what

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Speaker 1: has happened in the case of his invasion in Ukraine.

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Speaker 1: The US is now advising its citizens to consider leaving

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Speaker 1: Russia immediately, with President Biden set to speak with allies

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Speaker 1: on the crisis later today in Washington. I maybe Morris

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Speaker 1: Bloomberg Daybreak, All right, Amy, thank you now. More on

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Speaker 1: that meeting between Russia and Ukraine. Ukrainian leader of Vladimir's

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Speaker 1: Lenski as questioning whether much may come of the talks.

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Speaker 1: I'll say, frankly, like always, I don't believe that much

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Speaker 1: in the result of this meeting. But let them try

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Speaker 1: so that not a single citizen of Ukraine has any

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Speaker 1: doubt left that I, as president used every chance to

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Speaker 1: top the war, even a small one. Ukrainian President vladimir's

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Speaker 1: Lenski is asking foreigners to join his forces and response

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Speaker 1: Lafia will allow citizens to voluntarily travel to Ukraine to

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Speaker 1: fight Russia. Meantime, caring, the United Nations Security Council has

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Speaker 1: voted to hold a rare General Assembly meeting today over

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Speaker 1: the crisis in Ukraine. Bloomberg said. Baxter has the story.

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Speaker 1: This is an attempt by the Nations to further isolate Russia.

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Speaker 1: US Ambassador to the U n Lynda Thomas Greenfield says

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Speaker 1: the urgent response came as Vladimir Putin put his nuclear

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Speaker 1: program on high alert, even though he is invading a

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Speaker 1: country with no nuclear weapons and is under no threat

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Speaker 1: from NATO, a defensive alliance that will not fight in Ukraine.

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Speaker 1: The only vote against holding the assembly was Russia, but

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Speaker 1: it does not count as a veto because it's considered

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Speaker 1: a procedural meeting. In San Francisco, I'm at Baxter Bloomberg daybreak.

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Speaker 1: All right, and thank you. Western Nations have agreed to

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Speaker 1: unleash new sanctions to further isolate Russia's economy and bloomberge.

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Speaker 1: John Tucker continues our global team coverage live in New York.

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Speaker 1: Jungle Morning, Karen. Some Russian banks will be excluded from

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Speaker 1: the Swift messaging system, which is used to conduct trillions

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Speaker 1: of dollars worth of transactions. The European Commission President or

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Speaker 1: s Lavander Land, made the announcement over the weekend. Cutting

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Speaker 1: banks off will stop them from conducting most of their

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Speaker 1: financial transactions worldwide and effectively block Russian exports and imports.

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Speaker 1: Lee decision to cut all banks from Swift marks a

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Speaker 1: rapid escalation for the US and its allies, who had

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Speaker 1: said such a move was a nuclear option, and Russia's

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Speaker 1: Central Bank will now also be prevented from deploying its

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Speaker 1: international reserves. The decision to hit the central bank is

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Speaker 1: a first for an economy the size of Russia's. It

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Speaker 1: could lead to massive bank runs and shake Russia's financial

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Speaker 1: system to the core. Live in New York on John

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Speaker 1: Tucker Bloomberg Daybreak and John, we are seeing the conflict

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Speaker 1: in Ukraine have a major impact on equities and the

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Speaker 1: Russian rouble. This morning, Bloomberg's You Parts continues our global

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Speaker 1: team coverage live from London. Good morning You, and good

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Speaker 1: morning Nathan and Karen. Yeah, Europeans stocks selling off, today's

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Speaker 1: sovereign bonds rallying, and commodities including oil surging. The banking

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Speaker 1: sector down five point five percents, with energy and carmakers

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Speaker 1: also near the bottom of the table. Starties hundred down

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Speaker 1: one point three percent. Shares an oil giant, BP dropping

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Speaker 1: lost in three months after its decisions offload its steak

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Speaker 1: in Russia's ross left was getting given a little chance

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Speaker 1: of attracting a bill on the base company warning it

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Speaker 1: could take a financial hits of as much as twenty

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Speaker 1: five billion dollars. BB shares down more than six and

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Speaker 1: a half percent today, Live in London, I'm in pots

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Speaker 1: been big day break all right, do you and thank

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Speaker 1: you all. Oil is staring as energy markets are thrown

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Speaker 1: into a state of disarray and checking prices right now

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Speaker 1: and I'm excrete oil is up five and a quarter percent,

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Speaker 1: it said nine dollars forty one cents a barrel, and

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Speaker 1: Brent is that more than five percent as well at

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Speaker 1: a hundred and two dollars eighty nine cents. Plumbers RNEDA

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Speaker 1: young joins us live with more, good more Grandada, Good

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Speaker 1: morning care in Brent crew jumped more than seven percent

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Speaker 1: overnight before pulling back to trade around one three dollars

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Speaker 1: of barrel. The oil supply was already struggling to meet

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Speaker 1: demand from rebounding economies, and any disruptions from Russia, which

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Speaker 1: is the world's number three producer, could exacerbate conditions. Meantime,

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Speaker 1: China and other buyers have paused purchases of Russia's flagship

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Speaker 1: oil Grade, and some Asian customers are frantically trying to

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Speaker 1: secure more Middle Eastern crude. Live in New York, I'm

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Speaker 1: reneed a young bloomberth day break all right, rened to thanks,

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Speaker 1: And there's even more fault out this morning from the

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Speaker 1: Russian invasion of Ukraine. The Bank of Russia just said

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Speaker 1: there will be no stock trading today on the Moscow Exchange.

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Speaker 1: The Russian Central Bank more than doubled its key interest

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Speaker 1: rate overnight to the highest almost two decades. The interest

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Speaker 1: rate will increase from nine and a half to twenty percent.

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Speaker 1: Well back here in the US, and Nathan fetch Er J.

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Speaker 1: Powell must strike a delicate balance before Congress this week.

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Speaker 1: Powell delivers send the annual testimony on Wednesday. I'm a

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Speaker 1: likely endorsed recent signals from his college that the federal

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Speaker 1: race interest rates in March. At the same time, Russia's

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Speaker 1: invasion has injected a dose of uncertainty again. Futures are

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Speaker 1: falling with S and P futures down sixties seven points

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Speaker 1: this morning and a straight aheadge your latest local headlines,

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Speaker 1: plus a check of sports. And this is Bloomberg. Thanks Caring.

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Speaker 1: It's five oh seven on Wall Street, twenty nine degrees

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Speaker 1: in Central Park. Accident investigations on the southbound cross Brox Express,

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Speaker 1: frights at the Henry Hudson off ranted tail's coming up

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Speaker 1: in traffic. First Michael Barr with more on what's going

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Speaker 1: on in New York into around the world. Good morning, Michael,

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Speaker 1: Good morning Nathan. New York's COVID nineteen restrictions in the

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Speaker 1: city and around the state will be scaled back in

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Speaker 1: the coming days, ending indoor school mask mandates. Governor Kathy

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Speaker 1: Oracle cited recent CDC guidance that classified New York as

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Speaker 1: low risk for COVID infection. There are some states, some

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Speaker 1: counties in the standard they have a higher rate of transmission.

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Speaker 1: We will allow them the flexibility to determine what's best

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Speaker 1: for their county. We would encourage them to take a

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Speaker 1: look at this and follow the CDC, but this will

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Speaker 1: no longer be a mandate. Governor Hunkel also says New

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Speaker 1: York will also cut back requirements to show proof of

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Speaker 1: vaccination in city restaurants, gyms, and other venues. Some governors

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Speaker 1: are banning the sale of Russian vodka in response to

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Speaker 1: the invasion of Ukraine. It comes as New York is

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Speaker 1: among states pledging to welcome Ukrainian refugees. Governor pathy Ocal

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Speaker 1: sign and executive order that will result in a review

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Speaker 1: of New York's business ties, purchases, and investments possibly connected

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Speaker 1: to Russian entities. Because we have the Statue of Liberty

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Speaker 1: in our harbor, this is a point of pride for

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Speaker 1: us to welcome all of them, Vocal says. New York

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Speaker 1: is the home to the largest Ukrainian population in America.

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Speaker 1: North Korea says it tested cameras to be installed on

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Speaker 1: a spy satellite. Today's announcement comes a day after North

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Speaker 1: Korea's neighbors detected a ballistic missile launch. The u N

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Speaker 1: and others view a settle I had launched by North

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Speaker 1: Korea as a cover for tests of missile technology. President

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Speaker 1: Joe Biden's approval rating fell to a record low. A

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Speaker 1: New Washington Post ABC News poll shows only thirty seven

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Speaker 1: approve of the job He's doing in fifty say that

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Speaker 1: the disapprove. Ahead of his first State of the Union

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Speaker 1: address tomorrow, Judge Ktanji Brown Jackson will start paying courtesy

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Speaker 1: visits the U. S. Senators this week ahead of her

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Speaker 1: confirmation hearing. If approved, she would be the first black

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Speaker 1: woman seated on the U. S. Supreme Court. Senate Majority

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Speaker 1: Leader Chuck Schumer of New York reacted to President Biden

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Speaker 1: Supreme Court nominee. She is just such an outstanding nominee.

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Speaker 1: It's amazed me that no one in her past who

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Speaker 1: has worked with her both when she was on the

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Speaker 1: private side and then as a judge, has anything bad

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Speaker 1: to say about or whether the Democrat, Republican, liberal or conservative.

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Speaker 1: Senator Schumer. Global News twenty four hours a day on

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Speaker 1: air and on Bloomberg Quittake, powered by more than twenty

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Speaker 1: seven hundred journalists and analysts more than a hundred twenty countries.

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Speaker 1: Michael barn this is Bloomberg native. Thank you ankle him.

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Speaker 1: Don't have to five ten on Wall Street time for

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Speaker 1: the Bloomberg Sports up Daycod morning, John Stanshower, Good morning.

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Speaker 1: They did seven days in a row. The two sides

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Speaker 1: of the baseball lockout have met the one yesterday lasted

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Speaker 1: six hours, but after each one the story is always

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Speaker 1: the same, no real progress on the key economic issues.

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Speaker 1: They'll be back for more today, but according to MLB,

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Speaker 1: if they don't emerge today with a lockout any labor

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Speaker 1: deal this season will not start on time and will

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Speaker 1: not be one and sixty two games at the Garden

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Speaker 1: next meeting by Philadelphia. Once one on night, Joe l

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Speaker 1: m being thirty seven points. He went to the free

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Speaker 1: throw line twenty seven times, two Knick centers fouled out

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Speaker 1: trying to defend him, and be made twenty three of

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Speaker 1: those foul shots. And the new sixer James Harden, who

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Speaker 1: engineered a trade out of Brooklyn, scored twenty nine at

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Speaker 1: a triple double and is feeling good with Philly. Isn't

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Speaker 1: my second game and don there a month, but just

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Speaker 1: my body feels great, man, it feels great. I don't

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Speaker 1: haven't took his way honestly and really really a long time.

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Speaker 1: So just my pop my find me into the room

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Speaker 1: by extra step um, which was really great. And Nick's

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Speaker 1: not feeling so hot. They've lost fifteen their last eighteen.

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Speaker 1: That's the worst of the NBA over that time. Lakers

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Speaker 1: not much better, lost at home to New Orleans by

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Speaker 1: Dallas came from nineteen down in the second half to

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Speaker 1: win It's Golden State. Rangers were also at the Garden,

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Speaker 1: Quiet night for the Blue Shirts lost to Vancouver five

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Speaker 1: to two. Islanders of for Nothing win at Anahei bad

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Speaker 1: lost for St. John's. With the Big East tournament coming

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Speaker 1: next week. The Red Storm fell at De Paulo Javon

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Speaker 1: Freeman Liberties for thirty nine points to the Blue Demons.

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Speaker 1: Manhattan lost to Fairfield I ownA beat rider. The Gales

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Speaker 1: have dominated the MAC but will need to win the

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Speaker 1: upcoming tournament to gain entry to the n C Double.

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Speaker 1: As in Austriaan step Straka came from five shots down

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Speaker 1: to win the Honda Dolphin Pompy John Stash Bloomberg Sports

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Speaker 1: Thank you John SMP Futures now down seventy three points down,

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Speaker 1: futures down four hundred seventy one. Nast at future is

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Speaker 1: lower by two hundred sixteen points. The tenure treasury of

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Speaker 1: fifteen thirty seconds the yield one point nine zero percent.

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Speaker 1: Analysis of the market reaction to the sanctions on Russia

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Speaker 1: next with former Gartment letter publisher Dennis Gartman Bloomberg eleven

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Speaker 1: three oh weather sunny, breezy, cold today. Highs in the

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Speaker 1: mid thirties, will be back in the mid forties tomorrow

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Speaker 1: under a partly sunny sky. By Wednesday will be near

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Speaker 1: fifty degrees. Right now, it's twenty nine in Central Park. Markets,

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Speaker 1: headlines and breaking news twenty four hours a day at

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Speaker 1: Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quicktap's

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Speaker 1: a Bloomberg Business Flash. And I'm Karen Moscow Equities following

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Speaker 1: sovereign bonds rallying and commodities surging, and that heightened uncertainty

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Speaker 1: after Western Nations escalates sanctions on Russia for the invasion

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Speaker 1: of Ukraine banks leading declines in your up stock six

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Speaker 1: under an index. US futures are sliding, while utilities and

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Speaker 1: defense stocks gain. We checked the markets every fifteen minutes

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Speaker 1: throughout the trading day on Bloomberg s and P futures

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Speaker 1: down seventy points, down, features down four hundred sixty nine,

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Speaker 1: nasdack futures down two hundred five. The decks in Germany

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Speaker 1: is down two and a half percent. The ten year

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Speaker 1: treasury of fifteen thirty seconds, the yield one point nine

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Speaker 1: zero percent yield on the two year one point four

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Speaker 1: and nine percent. Nine x Screwed oil up five at

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Speaker 1: a quarter percent of four dollars eighty three cents at

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Speaker 1: ninety six dollars, forty two cents of barrel. Brent is

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Speaker 1: at a hundred three dollars a barrel. Comics gold is

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Speaker 1: up nine tenths per cent or seventeen dollars thirty cents

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Speaker 1: at nineteen o four and ninety announced. The euro one

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Speaker 1: point seven against the dollar, British found one point three

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Speaker 1: eight eight, the yen at one fifteen point five eight

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Speaker 1: and checking bitcoin this morning moving higher at thirty eight thousand,

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Speaker 1: two hundred eighty dollars, sets up two and at quarter percent.

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Speaker 1: That's a Bloomberg business flash. Now here's Michael Barrow with

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Speaker 1: more on what's going on around the world. Michael, good morning,

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Speaker 1: Good morning, Karen. President Vladimir Putin dramatically escalated East West

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Speaker 1: tensions by ordering Russian nuclear forces on high alerts. Follows

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Speaker 1: new crippling Western sanctus that forced his central bank to

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Speaker 1: sharply raise its key rate. To save the ruble from collapse.

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Speaker 1: The Russian military offered to allow residents to leave Kiev

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Speaker 1: via a safe corridor today while it beefed up for

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Speaker 1: an onslaught on the capitol. Meanwhile, Ukraine has agreed to

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Speaker 1: talks with Moscow near the Belarus border. In the NBA,

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Speaker 1: the Nick Celtics and Warriors lost. In the NHL, the

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Speaker 1: Islanders won, the Rangers lost. Global News twenty four hours

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Speaker 1: a day on air and on Bloomberg Quick Take, powered

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Speaker 1: by more than twenty seven hundred journalist analysts in more

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Speaker 1: than a hundred twenty countries. How Michael Barr and this

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Speaker 1: is Bloomberg. Nathan all right, Michael, thank you. It's five

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Speaker 1: nineteen on Wall Street Life from the Bloomberg Interactive Broker Studios.

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Speaker 1: This is Bloomberg Daybreak. We've just gotten this headline from

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Speaker 1: the Interfects News Service, Russia's news agency that those talks

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Speaker 1: between Russia and Ukraine have begun in Belarus. Will continue

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Speaker 1: monitoring those developments, of course, for you here on Bloomberg Daybreak.

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Speaker 1: In the meantime, we're joined by Dennis Gartman, chairman of

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Speaker 1: the University of Akron Endowment Investment Committee, former publisher of

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Speaker 1: the Gartment Letter, as we monitor this risk off Monday. Dennis,

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Speaker 1: good morning, How far do you see this going, this

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Speaker 1: sell off in equities and rush to safety. I've been

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Speaker 1: very bariss since January five, after the release of the

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Speaker 1: December FOMC minute minutes that which indicated it was going

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Speaker 1: to begin to tighten monetary policy. And the circumstances prevailing

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Speaker 1: in Russia obviously have made or i should say in

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Speaker 1: Ukraine obviously have made the market a lot more barished

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Speaker 1: than even I had thought we would get in as

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Speaker 1: short as span of time. But I have to tell you,

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Speaker 1: given the change that has occurred over the course of

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Speaker 1: the past several weeks, given the put call ratio now

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Speaker 1: in favor of puts, which is extremely unusual, given the

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Speaker 1: which the CNN Fair and Green Index had fallen, given

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Speaker 1: the massive decline in stock prices, I am demonstrably less

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Speaker 1: barished than I was. I don't think that I shall

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Speaker 1: turn bullish yet. Uh the old saw you buy on

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Speaker 1: the sound of excuse me by'm by on the sound

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Speaker 1: of the guns. All right, But at this point I

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Speaker 1: had been barished for the for the past thirteen weeks,

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Speaker 1: and I'm demonstrably less barished than I was. I think

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Speaker 1: we probably exhausted most of the downside. Let us hope

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Speaker 1: that it's true, but I think that the the amount

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Speaker 1: of panic that has occurred has taken the prices about

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Speaker 1: as far as they're going to take them, at least

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Speaker 1: in the near terms. I was bearish, I was very bearish.

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Speaker 1: I am demonstrably less so this morning than I was.

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Speaker 1: And we bounced almost two hundred down points in the

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Speaker 1: course of the last two hours, and gold has come

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Speaker 1: off almost thirty dollars, and it's high that we saw

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Speaker 1: early in the trading session. So I've been bearished, but

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Speaker 1: I'm demonstibly less so than I was. Man, we are

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Speaker 1: seeing a bit of a pullback, I think it's safe

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Speaker 1: to say from the lows on the session in the overnight,

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Speaker 1: as futures had fallen much further than we're seeing right now.

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Speaker 1: And at the same time, though, Dennis, we are continuing

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Speaker 1: to see this big spike in crude oil prices with

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Speaker 1: the pot stability perhaps of further sanctions. Could we see

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Speaker 1: more volatility in the energy market. It is possible to

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Speaker 1: see more volatility, But as you've heard me say before

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Speaker 1: and I'll say again, and I'll say into the future,

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Speaker 1: pay attention to what the term structure is doing. And

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Speaker 1: it was interesting to me that last week, as we

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Speaker 1: soared to the ups crude oil and we took Brent

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Speaker 1: almost we took Brent will past two hundred dollars a barrel,

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Speaker 1: and we took w t I very very nearly to

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Speaker 1: a hundred dollars of barrel. The term structure began actually

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Speaker 1: two week and the front months actually began to lose

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Speaker 1: relative to the back months. And as I've always told people,

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Speaker 1: watched the term structure in any storable commodity, the term

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Speaker 1: structure is probably the best leading indicator. And the fact

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Speaker 1: that the term structure in fact that the backwardation and

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Speaker 1: crude oil did not widen demonstrably and in fact narrow

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Speaker 1: last week told me at least that I think we've

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Speaker 1: seen the high and crude for a while. Do you

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Speaker 1: think the developments that we're seeing in Ukraine will shake

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Speaker 1: the FED in terms of its rate path for the

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Speaker 1: rest of this year? Yes, that thing. It's probably slowed

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Speaker 1: down the propensity that the Fed to raise the the

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Speaker 1: overnight said funds raised just points at the March meeting.

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Speaker 1: It's probably reduced that they're gonna they're gonna raise the

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Speaker 1: over and I've said funds right, but instead of the

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Speaker 1: fifty basis point increase, it will probably be twenty five

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Speaker 1: basis points, And instead of taking it up at every meeting,

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Speaker 1: they'll probably take the overnight said funds rate higher every

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Speaker 1: other meeting. So yes, I think there's no question. The

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Speaker 1: political circumstances of the geopolitical circumstances prevailing have without questions,

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Speaker 1: slowed the Fed's propensity to tighten monetary policy. Will they continue,

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Speaker 1: Will they begin the process of quantitative tightening and the

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Speaker 1: end of quantitative easing at the March meeting? No question?

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Speaker 1: But what are they going to be as aggressive as

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Speaker 1: I thought there would have been two or three weeks ago, No,

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Speaker 1: they will not. Do you see any contagion risk from

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Speaker 1: what the action we're seeing in the ruble with the

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Speaker 1: ruble thinking as much as it has by as much

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Speaker 1: astent and we're seeing all these bank runs in Russia

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Speaker 1: as well as their contagion risk, there's always contagion risk,

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Speaker 1: but I think that the monetary authorities are probably on

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Speaker 1: top of it. There's always the possibility that they can

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Speaker 1: get out of hand. There's always the possibility of severe blowback,

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Speaker 1: But I think, quite honestly, I would guess that the ECB,

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Speaker 1: in the FED, the Bank ac Canada, the Bank of

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Speaker 1: England at all have had probably discussions concerning these matters

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Speaker 1: and are on top of the situation. I'm not fearful

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Speaker 1: of of demonstrable material untoward blowback, but there's always that possibility.

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Speaker 1: Thanks as always, Dennis for your insights. Dennis Gartman is

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Speaker 1: the former publisher of the Gartment Letter, now chairman of

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Speaker 1: the University of Akron Endowment Investment Committee. As we continue

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Speaker 1: to watch the sell off in equities this morning, SMP

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Speaker 1: futures are now down seventy points, STUFF futures down four

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Speaker 1: eight one, NASTAC futures lower by a hundred ninety seven points.

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Speaker 1: The ruble is down more than sixteen percent right now,

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Speaker 1: and the ten your treasury is up fourteen thirty seconds,

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Speaker 1: the yield one point nine one percent. Passing along this

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Speaker 1: red headline that just crossed the Bloomberg terminal from the

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Speaker 1: Nick News service in Japan, Toyota suspending its plants in

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Speaker 1: Japan on a supplier cyber attack. Much more to com

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Speaker 1: as Bloomberg day break continues. This is Bloomberg Bloomberg eleven

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Speaker 1: three oh weather, sunny, breezy, mid thirties. That's all we'll

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Speaker 1: get to today. By tomorrow will be in the mid forties.

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Speaker 1: Enderberg expecting a high near fifty by Wednesday. Currently twenty

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Speaker 1: nine degrees in Central Park. Broadcasting live from the Bloomberg

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Speaker 1: Interactive Broker Studio in New York, Bloomberg E Living Freedom

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Speaker 1: to Washington, d C, Bloomberg nine to Boston, Bloomberg one,

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Speaker 1: O six one to San Francisco Bloomberg and M sixty

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Speaker 1: to the country Sirius XM chto one nineteen and around

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Speaker 1: the globe the Bloomberg Business and Bloomberg Radio dot Com.

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Speaker 1: This is Bloomberg Daybreak. It's five thirty on Wall Street.

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Speaker 1: Good morning. I'm Nathan Hagar and I'm Karen Moscow or

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Speaker 1: just about four hours away from the open of US trading.

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Speaker 1: Let's get you up to date on the news you

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Speaker 1: need to know at this hour. Beginning with the latest

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Speaker 1: developments in Eastern Europe. Inter Facts is reporting that talks

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Speaker 1: have started between Russia and Ukraine. Pleasant President Vladimir's a

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Speaker 1: Lenski questions whether much will come of it, but he

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Speaker 1: feels bound to make an attempt if it means a

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Speaker 1: chance at peace. Meantime, and Western nations have a great

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Speaker 1: to impose more sanctions aimed at isolating Russia's economy. Penalties

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Speaker 1: have yet to include the energy industry. Here's White House

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Speaker 1: spokesperson Jen Saki, energy sanctions are certainly on the table.

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Speaker 1: We have not taken those off, but we also want

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Speaker 1: to do that and make sure we're minimizing the impact

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Speaker 1: on the global marketplace. White how spokesperson Jen Saki made

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Speaker 1: the comments on ABC's This Week Heard Sundays on Bloomberg Radio,

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Speaker 1: Well fears of an energy crisis, Karen, have oil surging

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Speaker 1: this morning? Checking prices now, Nimex crews up five percent

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Speaker 1: or four dollars fifty three cents at ninety six dollars

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Speaker 1: thirteen cents of barrel. Brent is up four point nine

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Speaker 1: percent a hundred two dollars seventy five cents. Bloomberg's Rnda

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Speaker 1: Young joins us Live with more Ranina Nathan. Brent crew

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Speaker 1: jump more than seven percent overnight before pulling back to

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Speaker 1: trade a round a hundred and two dollars of barrel.

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Speaker 1: The oil supply was already struggling to meet demand from

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Speaker 1: rebounding economies and any disruptions from Russia, which is the

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Speaker 1: world number three producer could exacerbate conditions. Meantime, China and

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Speaker 1: other buyers have paused purchases of Russia's flagship oil Grade,

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Speaker 1: and some Asian customers are frantically trying to secure more

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Speaker 1: Middle Eastern crude. Live in New York. I'm really need

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Speaker 1: a young Bloomberg daybreak, all right, Reny to thank you.

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Speaker 1: While oili ists, Viking equities are selling off, and sovereign

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Speaker 1: bonds are rallying. SMP Future as you draw down almost

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Speaker 1: three percent earlier this morning, are now down one point

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Speaker 1: seven percent. The yield on the tenure treasury is at

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Speaker 1: one point nine one percent. Of course, it's all tided

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Speaker 1: to moves this weekend to isolate Moscow's financial system, Karen,

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Speaker 1: Let's get the latest on that live from Bloomberg's John

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Speaker 1: Tucker John Nathan. Fresh Western sanctions seek to prevent Russia's

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Speaker 1: Central Bank from using the foreign reserves to blunt the penalties. Now.

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Speaker 1: The added sanctions also exclude some Russian lenders from the

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Speaker 1: Swift messaging system that underpins billions of dollars worth of transactions.

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Speaker 1: As a result of these moves, doubts are now growing

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Speaker 1: about the Bank of Russia's ability to backstop that country's

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Speaker 1: financial system. That has the ruble essentially turning to rubble

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Speaker 1: this morning and now takes one hundred ruble to buy

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00:23:14,480 --> 00:23:17,760
Speaker 1: one dollar. Live in New York, I'm John Tucker Bloomberg Daybreak.

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00:23:18,000 --> 00:23:20,560
Speaker 1: All right, John, thank you, And SMP futures are down

431
00:23:20,640 --> 00:23:23,120
Speaker 1: seventy four points this morning. Down Future is down four

432
00:23:23,200 --> 00:23:26,119
Speaker 1: hundred ninety five and as DAG futures down two hundred

433
00:23:26,400 --> 00:23:29,320
Speaker 1: seventeen again, a ten year treasury up thirteen thirty seconds.

434
00:23:29,400 --> 00:23:31,800
Speaker 1: He at one point one percent. Sure to head your

435
00:23:31,840 --> 00:23:34,359
Speaker 1: latest local headlines plus a check of sports. This is

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00:23:34,400 --> 00:23:41,720
Speaker 1: Bloomberge on Wall streety degrees in Central Park. There's a

437
00:23:41,760 --> 00:23:43,840
Speaker 1: car on the I AM tracked tracks, you know, the

438
00:23:43,840 --> 00:23:46,840
Speaker 1: Henry Hudson and the Cross Bronx. Details coming up in

439
00:23:46,880 --> 00:23:49,480
Speaker 1: traffic first Michael Barr with more on what's going on

440
00:23:49,520 --> 00:23:51,280
Speaker 1: in New York and around the world. Michael, thank you

441
00:23:51,359 --> 00:23:54,960
Speaker 1: very much. Nathan. It is a new coronavirus mandate milestone

442
00:23:54,960 --> 00:23:58,040
Speaker 1: for New York State Governor Kathy hucle Is lifting mask

443
00:23:58,200 --> 00:24:01,240
Speaker 1: requirements and all of the state's pulled schools starting Wednesday,

444
00:24:01,440 --> 00:24:05,120
Speaker 1: giving parents and students the option. Individual parents have their

445
00:24:05,160 --> 00:24:08,720
Speaker 1: own knowledge of their children. They know their own children's health,

446
00:24:08,760 --> 00:24:11,000
Speaker 1: They know their tolerance for the mask, they know whether

447
00:24:11,119 --> 00:24:13,840
Speaker 1: for them if they've got an underlying health condition. She

448
00:24:13,960 --> 00:24:17,159
Speaker 1: says the move follows new c d C guidelines. Governor

449
00:24:17,240 --> 00:24:21,560
Speaker 1: Uncle also condemned any bullying or harassment against those who

450
00:24:21,680 --> 00:24:24,960
Speaker 1: choose to keep their masks on. Governor Howkell also says

451
00:24:25,040 --> 00:24:28,760
Speaker 1: New York is among states pledging to welcome Ukrainian refugees.

452
00:24:29,160 --> 00:24:32,400
Speaker 1: These are fellow brothers and sisters. We worship with them,

453
00:24:32,440 --> 00:24:35,080
Speaker 1: We go to restaurants, then we celebrate their cultural festivals.

454
00:24:35,080 --> 00:24:38,560
Speaker 1: They're an important part of the fabric of New York States,

455
00:24:38,560 --> 00:24:41,639
Speaker 1: so an attack on their country is truly an attack

456
00:24:41,680 --> 00:24:44,560
Speaker 1: on all of US. Hoc Will also signed an executive

457
00:24:44,680 --> 00:24:47,119
Speaker 1: order that will result in a review of New York's

458
00:24:47,160 --> 00:24:52,240
Speaker 1: business ties, purchases and investments possibly connected to Russian entities.

459
00:24:52,560 --> 00:24:56,240
Speaker 1: North Korea followed up January's record barrage of missile jests

460
00:24:56,240 --> 00:24:59,359
Speaker 1: with the firing of a suspected mid range ballistic rocket,

461
00:25:00,040 --> 00:25:04,280
Speaker 1: think up tensions as global attention is focused on Ukraine. Meanwhile,

462
00:25:04,480 --> 00:25:07,640
Speaker 1: Young Yang says it tested cameras to be installed on

463
00:25:07,760 --> 00:25:11,560
Speaker 1: a spy satellite move on from former President Trump. That's

464
00:25:11,560 --> 00:25:15,760
Speaker 1: the advice for Republicans from Trump's former Attorney General William

465
00:25:15,800 --> 00:25:18,800
Speaker 1: Barr and his new book called One Damn Thing after Another.

466
00:25:19,240 --> 00:25:22,160
Speaker 1: Bar rights that the former president has shown he has

467
00:25:22,240 --> 00:25:26,320
Speaker 1: neither the temperament nor persuasive powers to provide the kind

468
00:25:26,320 --> 00:25:29,520
Speaker 1: of positive leadership that's needed, and that Republicans need to

469
00:25:29,520 --> 00:25:32,680
Speaker 1: focus on fresh faces. As to whether the election was stolen,

470
00:25:32,720 --> 00:25:36,119
Speaker 1: Bar says no, Trump lost it in an upset. The

471
00:25:36,160 --> 00:25:39,080
Speaker 1: Deaf family drama Coda has one top honor is that

472
00:25:39,200 --> 00:25:42,600
Speaker 1: a very unpredictable Screen Actors Guild Awards that also saw

473
00:25:42,680 --> 00:25:45,479
Speaker 1: wins for the leads of Squid Game, the cast of

474
00:25:45,480 --> 00:25:48,720
Speaker 1: Ted Lasso and Will Smith. Global News twenty four hours

475
00:25:48,760 --> 00:25:51,800
Speaker 1: a day on air and on Bloomberg Quicktake, powered by

476
00:25:51,840 --> 00:25:54,480
Speaker 1: more than twenty seven hundred journalist and analysts more than

477
00:25:54,480 --> 00:25:57,359
Speaker 1: a hundred twenty countries. Michael Barr, This is Bloomberg, Nathan

478
00:25:57,480 --> 00:26:05,240
Speaker 1: Show goes on, Thank You, Michael, five on Wall Street.

479
00:26:05,280 --> 00:26:07,480
Speaker 1: So to Sports, It's gonna Bloomberg Sports Update Now with

480
00:26:07,560 --> 00:26:10,200
Speaker 1: John Stenshowers, Faith and Doubleheader at the Garden and to

481
00:26:10,480 --> 00:26:13,280
Speaker 1: New York Losses. Up. First, the Knicks, who were over

482
00:26:13,400 --> 00:26:17,360
Speaker 1: five hundred in mid January three and fifteen, since that's

483
00:26:17,359 --> 00:26:20,600
Speaker 1: the worst of any NBA team. Philadelphia one one on nine.

484
00:26:20,600 --> 00:26:23,160
Speaker 1: The Knicks kept fouling Joe l MB and he took

485
00:26:23,200 --> 00:26:27,040
Speaker 1: twenty seven free throws made scored thirty seven. Nicks cook

486
00:26:27,080 --> 00:26:30,639
Speaker 1: Tom Thibodeau asked, why all the foul They're generating speed

487
00:26:30,680 --> 00:26:34,240
Speaker 1: and there's contact, there's there's gonna be, you know, and

488
00:26:34,400 --> 00:26:37,640
Speaker 1: it's you know, some some games it's marginal contact. It's

489
00:26:37,680 --> 00:26:41,000
Speaker 1: not a foul, some other games it is. And so

490
00:26:41,840 --> 00:26:44,119
Speaker 1: that's where you have to jumpt and you know, you

491
00:26:44,160 --> 00:26:46,679
Speaker 1: have to be in early and get out early, and

492
00:26:47,560 --> 00:26:49,240
Speaker 1: you have to pull your hands back, and you got

493
00:26:49,320 --> 00:26:51,800
Speaker 1: to stay down on shot fakes and and that sort

494
00:26:51,840 --> 00:26:53,399
Speaker 1: of thing. He's hard. In the second game with the

495
00:26:53,440 --> 00:26:56,240
Speaker 1: Sixers twenty nine points of the triple double leven four R. J.

496
00:26:56,320 --> 00:26:59,359
Speaker 1: Barrett both but twenty four but Julius Randolin two games.

497
00:26:59,359 --> 00:27:01,919
Speaker 1: It's the All Star. Rake has shot six of twenty

498
00:27:02,000 --> 00:27:03,480
Speaker 1: eight and now the next go on the road for

499
00:27:03,520 --> 00:27:06,560
Speaker 1: a seventy game trip, all but one against teams currently

500
00:27:06,560 --> 00:27:08,679
Speaker 1: in the playoffs. After the Hopes, they put down the

501
00:27:08,720 --> 00:27:10,680
Speaker 1: ice for the Rangers and can Ups Blue Shorts fell

502
00:27:10,760 --> 00:27:12,960
Speaker 1: forward up in the third period. A couple of goals

503
00:27:12,960 --> 00:27:15,280
Speaker 1: made it interesting in Vancouver went five to two. Islanders

504
00:27:15,280 --> 00:27:17,480
Speaker 1: of Ford. Nothing to win at Anaheim. Pitch shot out

505
00:27:17,480 --> 00:27:20,159
Speaker 1: of the year for Ilius Opie St John's lost him

506
00:27:20,200 --> 00:27:24,840
Speaker 1: de Paul, you can beat Georgetown. The Joyas are Owen's

507
00:27:24,920 --> 00:27:27,800
Speaker 1: seventeen and the Big East. Patrick Ewing says he's hopeful

508
00:27:28,119 --> 00:27:31,280
Speaker 1: he gets to keep his job. Baseball walkout continues. If

509
00:27:31,280 --> 00:27:34,200
Speaker 1: no labor deal by today, the season will be shortened.

510
00:27:34,200 --> 00:27:36,919
Speaker 1: The Mets of Higher twenty five year old Elizabeth ben

511
00:27:37,200 --> 00:27:39,679
Speaker 1: to be the director of Major League Operations. She had

512
00:27:39,680 --> 00:27:42,680
Speaker 1: been working in the MLB office. John stash Ellard Bloomberg

513
00:27:42,720 --> 00:27:45,960
Speaker 1: Sports thanks John seven on Wall Street Time for the

514
00:27:45,960 --> 00:27:49,200
Speaker 1: Tri State Business Report. Here's Bloomberg's ed Corey. New York

515
00:27:49,280 --> 00:27:52,399
Speaker 1: City neighborhood stores are struggling to confront crimes that have

516
00:27:52,520 --> 00:27:56,600
Speaker 1: cascaded from the disruptions of the pandemic. The Times reports

517
00:27:56,720 --> 00:27:59,879
Speaker 1: last year, complaints of retail theft were about sixteen per

518
00:28:00,040 --> 00:28:04,200
Speaker 1: sen higher than in but arrest rates have dropped. New

519
00:28:04,280 --> 00:28:07,840
Speaker 1: Yorkers are barred from buying or selling a cryptocurrency created

520
00:28:07,960 --> 00:28:12,440
Speaker 1: just for them, city Coins, created NYC coin in November,

521
00:28:12,720 --> 00:28:16,080
Speaker 1: but there is a problem. New Yorkers can create coins

522
00:28:16,119 --> 00:28:18,919
Speaker 1: through the mining process, but they can trade them on

523
00:28:18,960 --> 00:28:22,680
Speaker 1: an exchange because the state requires any crypto trading platform

524
00:28:22,760 --> 00:28:25,840
Speaker 1: to have a bit license to operate. There hundreds of

525
00:28:25,880 --> 00:28:29,240
Speaker 1: thousands of electric and natural gas customers in New Jersey

526
00:28:29,280 --> 00:28:32,480
Speaker 1: who are behind on the utility bills will soon face

527
00:28:32,520 --> 00:28:35,640
Speaker 1: the prospect of having their service cut off unless they

528
00:28:35,720 --> 00:28:39,480
Speaker 1: sign up for help or make payment arrangements. Winter moratorium

529
00:28:39,520 --> 00:28:43,520
Speaker 1: against shutoffs expires on March fifteen. That your Bloomberg Tri

530
00:28:43,680 --> 00:28:46,640
Speaker 1: State Business Report. I'm Ed Corey. Thanks that it's five

531
00:28:46,720 --> 00:28:48,720
Speaker 1: thirty eight on Wall Street. Bloomberg Radio is on the

532
00:28:48,720 --> 00:28:51,480
Speaker 1: air from San Francisco to New York, London to Hong Kong.

533
00:28:51,600 --> 00:28:53,479
Speaker 1: Let's check in with our global news team for some

534
00:28:53,520 --> 00:28:55,760
Speaker 1: of the top stories heard on our three hundred affiliate

535
00:28:55,840 --> 00:29:01,840
Speaker 1: radio stations around the world. I'm Steve Polas got on

536
00:29:02,000 --> 00:29:04,360
Speaker 1: ten ten Wins in New York. We're talking about New

537
00:29:04,400 --> 00:29:08,520
Speaker 1: York City's pension system, weighing the vestiture of Russian assets.

538
00:29:09,080 --> 00:29:12,280
Speaker 1: Um Corney's anahoean katr h in Houston. With the crisis

539
00:29:12,280 --> 00:29:15,360
Speaker 1: in Ukraine has offended the cost of shipping oil by sea.

540
00:29:15,800 --> 00:29:19,040
Speaker 1: I'm Ginas Starretti and for k CBS in San Francisco.

541
00:29:19,200 --> 00:29:22,360
Speaker 1: I'm reporting that Airbnb is offering housing for up to

542
00:29:22,360 --> 00:29:26,400
Speaker 1: a hundred thousand Ukrainian refugees who are fleeing the Russian invasion.

543
00:29:26,920 --> 00:29:30,360
Speaker 1: I'm Caroline Hepfield, dupeg dab Dishowado land at WI reporting

544
00:29:30,400 --> 00:29:33,320
Speaker 1: on the uk pe edging any transactions with Russia's Central

545
00:29:33,360 --> 00:29:36,920
Speaker 1: Bank as Western sanctions bikes. I'm in Corey on w

546
00:29:37,200 --> 00:29:39,920
Speaker 1: T A M in Cleveland. I'm reporting the Banish law

547
00:29:40,040 --> 00:29:42,760
Speaker 1: firm and moving into eight floors at Key Tower, the

548
00:29:42,800 --> 00:29:46,400
Speaker 1: biggest new lease in Cleveland Central Business District in years.

549
00:29:46,760 --> 00:29:48,680
Speaker 1: Those are some of the stories our twenty seven hundred

550
00:29:48,680 --> 00:29:51,120
Speaker 1: Bloomberg journalists and analysts are working on this morning around

551
00:29:51,160 --> 00:29:53,600
Speaker 1: the world. It's five thirty nine on Wall Street. The

552
00:29:53,720 --> 00:29:57,520
Speaker 1: following is an editorial from Bloomberg Opinion. For months, the

553
00:29:57,680 --> 00:30:01,360
Speaker 1: US has held on to about seven billion dollars belonging

554
00:30:01,480 --> 00:30:06,680
Speaker 1: to the people of Afghanistan. That money must be administered wisely.

555
00:30:07,240 --> 00:30:11,080
Speaker 1: Some background. After the Taliban swept into power last summer,

556
00:30:11,240 --> 00:30:14,920
Speaker 1: the US blocked Afghanistan's assets held at the Federal Reserve

557
00:30:15,480 --> 00:30:19,080
Speaker 1: President Joe Biden recently issued an order creating the impression

558
00:30:19,160 --> 00:30:21,560
Speaker 1: that half those funds would go to the families of

559
00:30:21,680 --> 00:30:25,600
Speaker 1: victims of the September eleventh terrorist attacks. To be clear,

560
00:30:25,960 --> 00:30:30,480
Speaker 1: Biden's intentions were good. After the US froze the reserves.

561
00:30:30,600 --> 00:30:33,680
Speaker 1: Of Victims group laid claim to all the money as

562
00:30:33,760 --> 00:30:37,480
Speaker 1: part of a judgment one against the Taliban. Biden's order

563
00:30:37,600 --> 00:30:40,160
Speaker 1: cuts the amount they can pursue in half, and the

564
00:30:40,240 --> 00:30:43,440
Speaker 1: plaintiffs must still win their case in court. But the

565
00:30:43,560 --> 00:30:47,840
Speaker 1: reserves rightfully belong to the Afghan people and it should

566
00:30:47,880 --> 00:30:52,600
Speaker 1: be reserved for its intended purpose to stabilize the Afghan economy.

567
00:30:53,080 --> 00:30:56,400
Speaker 1: This editorial was written by the Bloomberg Editorial Board. For

568
00:30:56,600 --> 00:31:00,320
Speaker 1: more Bloomberg opinion, please go to Bloomberg dot COM's slash

569
00:31:00,440 --> 00:31:04,440
Speaker 1: opinion or O P I n go on the Bloomberg terminal.

570
00:31:04,840 --> 00:31:08,720
Speaker 1: This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials

571
00:31:08,760 --> 00:31:12,000
Speaker 1: every weekday. At this time, terminal customers can read more

572
00:31:12,480 --> 00:31:17,000
Speaker 1: at O P I n go. Futures moving lower. You're

573
00:31:17,080 --> 00:31:24,479
Speaker 1: listening to Bloomberg Day Right Bloomberg eleven three oh weather sunny, breezy,

574
00:31:24,520 --> 00:31:26,400
Speaker 1: mid thirties for highest today will be in the mid

575
00:31:26,520 --> 00:31:30,560
Speaker 1: forties by tomorrow. High your fifty mostly sunny for Wednesday.

576
00:31:30,680 --> 00:31:37,920
Speaker 1: Right now, clear skies twenty eight degrees in Central Park Markets.

577
00:31:38,040 --> 00:31:41,120
Speaker 1: Headlines and breaking news twenty four hours a day at

578
00:31:41,160 --> 00:31:44,560
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg

579
00:31:44,640 --> 00:31:53,640
Speaker 1: Quick Tape. This is a Bloomberg Business Flash and I'm

580
00:31:53,680 --> 00:31:56,840
Speaker 1: Karen moscow A. Liquities are falling, sovereign bond's rallying, and

581
00:31:56,920 --> 00:32:01,240
Speaker 1: commodities surging amid heightened uncertainty after Western Sans escalated sanctions

582
00:32:01,280 --> 00:32:03,920
Speaker 1: on Russia for the invasion of Ukraine. We checked the

583
00:32:03,960 --> 00:32:06,920
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg

584
00:32:07,080 --> 00:32:09,600
Speaker 1: s and P Future is down sixty three points down,

585
00:32:09,680 --> 00:32:12,440
Speaker 1: futures down four hundred twenty seven. NASDAG features down a

586
00:32:12,520 --> 00:32:15,440
Speaker 1: hundred eighty four the decks in Germany's down two and

587
00:32:15,520 --> 00:32:18,560
Speaker 1: a half percent. Ten year treasury of twelve thirty seconds,

588
00:32:18,600 --> 00:32:20,560
Speaker 1: he had one point nine two percent, a yield on

589
00:32:20,600 --> 00:32:23,440
Speaker 1: the two year one point four nine percent. Nine max

590
00:32:23,480 --> 00:32:26,480
Speaker 1: screwed oil up five percent or four dollars fifty six

591
00:32:26,560 --> 00:32:29,720
Speaker 1: cents at ninety six dollars seventeen cents of barrel comics.

592
00:32:29,760 --> 00:32:32,440
Speaker 1: Gold is up one percent or nineteen dollars at nineteen

593
00:32:32,480 --> 00:32:35,080
Speaker 1: o six and ounce, the euro one point one one

594
00:32:35,200 --> 00:32:37,520
Speaker 1: eight six against the dollar, British pound one point three

595
00:32:37,600 --> 00:32:40,160
Speaker 1: three eight six, the En one fifteen point six one,

596
00:32:40,600 --> 00:32:43,440
Speaker 1: and Bitcoin moving higher more up more than two and

597
00:32:43,480 --> 00:32:46,680
Speaker 1: a half percent at thirty eight thousand, four hundred dollars.

598
00:32:46,920 --> 00:32:49,360
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with

599
00:32:49,440 --> 00:32:52,600
Speaker 1: more on what's going on around the world. Michael, thank

600
00:32:52,640 --> 00:32:55,240
Speaker 1: you very much. Karen. A Ukrainian delegation led by its

601
00:32:55,280 --> 00:32:58,560
Speaker 1: defense minister arrived at the border with Belarus for songs

602
00:32:58,600 --> 00:33:01,880
Speaker 1: with Russian officials. It comes as Ukraine is still holding

603
00:33:01,960 --> 00:33:05,200
Speaker 1: off Russia's military. Five days after the start of the invasion,

604
00:33:05,600 --> 00:33:09,400
Speaker 1: Hong Kong reported a record high thirty four thousand plus

605
00:33:09,520 --> 00:33:14,200
Speaker 1: infections as deaths continue to climb. Health authorities say that

606
00:33:14,360 --> 00:33:16,600
Speaker 1: the lockdown has not been ruled out, even though the

607
00:33:16,640 --> 00:33:20,680
Speaker 1: city's leader previously said that a citywide lockdown was unrealistic

608
00:33:20,760 --> 00:33:24,360
Speaker 1: for COVID. In the NBA, the Knicks, Celtics and Warriors lost.

609
00:33:24,760 --> 00:33:28,000
Speaker 1: In the NHL, the Islanders won, the Rangers lost. Global

610
00:33:28,080 --> 00:33:30,080
Speaker 1: names twenty four hours a day on air and on

611
00:33:30,160 --> 00:33:33,080
Speaker 1: Bloomberg Quick Take, powered by more than that twenty seven

612
00:33:33,160 --> 00:33:36,360
Speaker 1: hundred journalists analyst more than a hundred twenty countries. Michael Barr,

613
00:33:36,440 --> 00:33:38,880
Speaker 1: this is Bloomberg. Nathan. Okay, Michael, thanks for coming up

614
00:33:38,880 --> 00:33:40,840
Speaker 1: to five forty nine on Wall Street Life from the

615
00:33:40,840 --> 00:33:44,120
Speaker 1: Bloomberg Intractor Broker Studios. This is Bloomberg Daybreaker. As we

616
00:33:44,160 --> 00:33:46,640
Speaker 1: continue following developments in the war in Ukraine, were joined

617
00:33:46,720 --> 00:33:50,520
Speaker 1: live now from Geneva, Switzerland by Bloomberg's Maria Today. Oh, Maria,

618
00:33:50,680 --> 00:33:52,560
Speaker 1: it's good to have you with us this morning. As

619
00:33:52,600 --> 00:33:55,120
Speaker 1: we heard from Michael Barr, the Interfacts news service in

620
00:33:55,160 --> 00:33:58,920
Speaker 1: Russia's reporting that the talks between Ukrainian and Russian delegations

621
00:33:58,960 --> 00:34:02,680
Speaker 1: in Belarus are underway. Now, what are the expectations going

622
00:34:02,760 --> 00:34:07,320
Speaker 1: into these discussions, Well, they are underway. We know the

623
00:34:07,600 --> 00:34:11,600
Speaker 1: Ukrainians have sent a delegation to the border near to

624
00:34:11,840 --> 00:34:15,040
Speaker 1: Belarus and the idea, of course here is to work

625
00:34:15,120 --> 00:34:17,120
Speaker 1: out where we go from here. You know, the reality

626
00:34:17,320 --> 00:34:19,640
Speaker 1: is we have these five days of heavy fighting, but

627
00:34:19,760 --> 00:34:23,560
Speaker 1: the Ukrainian army is resisting. We're now seeing the Europeans,

628
00:34:23,640 --> 00:34:27,120
Speaker 1: of course, saying that they will provide weapons and financing

629
00:34:27,200 --> 00:34:30,400
Speaker 1: and Putting of course very heavy sanctions on Russia, so

630
00:34:30,760 --> 00:34:33,480
Speaker 1: they feel like they can still hold on to this

631
00:34:33,719 --> 00:34:38,600
Speaker 1: In terms of UH potential talking points in this meeting today,

632
00:34:39,320 --> 00:34:42,319
Speaker 1: the reality is the Ukrainians say, there's nothing to talk

633
00:34:42,360 --> 00:34:47,680
Speaker 1: about until and unless Russia agrees to a ceasefire and

634
00:34:47,760 --> 00:34:51,040
Speaker 1: they agree to pull back their troops. Otherwise it would

635
00:34:51,040 --> 00:34:53,520
Speaker 1: be very difficult for them to negotiate anything. They would

636
00:34:53,600 --> 00:34:57,040
Speaker 1: not see signs of good faith from Russia, and essentially

637
00:34:57,040 --> 00:35:00,440
Speaker 1: the Ukrainians would feel like they're walking here into trapped

638
00:35:00,440 --> 00:35:03,759
Speaker 1: their resulting capitulation. But as I say, after five days

639
00:35:03,800 --> 00:35:07,040
Speaker 1: of heavy fighting but really huge resistance from the people

640
00:35:07,080 --> 00:35:11,000
Speaker 1: of Ukraine, the Ukrainian government has no incentive to give

641
00:35:11,080 --> 00:35:13,680
Speaker 1: up what they believe have been five very good days

642
00:35:13,719 --> 00:35:17,200
Speaker 1: of resistance and just opitually to whatever Vladimir Putting asks for.

643
00:35:17,840 --> 00:35:20,399
Speaker 1: Of course, on top of the Ukrainian resistance we have seen,

644
00:35:20,440 --> 00:35:23,200
Speaker 1: we've also got these massive sanctions now from Europe on

645
00:35:23,239 --> 00:35:26,920
Speaker 1: the Russian Central Bank, several of private banks being kicked

646
00:35:26,960 --> 00:35:29,520
Speaker 1: off the Swift system, something that had been seen as

647
00:35:29,560 --> 00:35:34,000
Speaker 1: a nuclear option, and apparently in response, Russian President Putin

648
00:35:34,160 --> 00:35:37,279
Speaker 1: is telling his nuclear forces to be on high alert. Now,

649
00:35:37,360 --> 00:35:42,400
Speaker 1: how seriously is the European Alliance taking this threat from

650
00:35:42,480 --> 00:35:47,520
Speaker 1: Russia when it comes to the nuclear threat. Well, just

651
00:35:47,640 --> 00:35:50,280
Speaker 1: to put it in context, of course, yesterday Vladimir Putin

652
00:35:50,640 --> 00:35:54,000
Speaker 1: came out and said there has been some very unfriendly

653
00:35:54,440 --> 00:35:58,040
Speaker 1: economic measures when it comes to the west on Russia,

654
00:35:58,320 --> 00:36:02,120
Speaker 1: and there has been some very an language from NATO

655
00:36:02,200 --> 00:36:05,800
Speaker 1: when it comes to the west on Russia. So given this,

656
00:36:06,000 --> 00:36:09,200
Speaker 1: we're gonna put on high alert our nuclear deterrents. Now,

657
00:36:09,280 --> 00:36:12,239
Speaker 1: when I spoke to European official about this yesterday, well,

658
00:36:12,280 --> 00:36:14,960
Speaker 1: who told me three things. A lot of this does

659
00:36:15,080 --> 00:36:19,000
Speaker 1: sound like a big bluff from a man who expected

660
00:36:19,239 --> 00:36:22,759
Speaker 1: a very quick war, a very in an outivation, who

661
00:36:22,920 --> 00:36:26,680
Speaker 1: expected that in forty eight hours Keith, the capital city

662
00:36:26,719 --> 00:36:28,920
Speaker 1: of Ukraine, would fall, And that's not been the key.

663
00:36:29,040 --> 00:36:31,600
Speaker 1: So he's now a corner. But the two this European

664
00:36:31,640 --> 00:36:34,880
Speaker 1: official who I was speaking with late yesterday said it

665
00:36:35,080 --> 00:36:38,960
Speaker 1: is completely crazy to talk about nuclear weapons is a

666
00:36:39,120 --> 00:36:41,399
Speaker 1: huge responsibility and it does show you, know, it does

667
00:36:41,480 --> 00:36:44,279
Speaker 1: tell you a lot about the personality of quote the man,

668
00:36:44,600 --> 00:36:47,520
Speaker 1: the man of course being Ladimir protein It's interesting that

669
00:36:47,600 --> 00:36:50,040
Speaker 1: when it comes to the United States in Europe, no

670
00:36:50,280 --> 00:36:53,000
Speaker 1: one has kind of matched up the language. No one's

671
00:36:53,000 --> 00:36:55,200
Speaker 1: wanted to say, oh, we're gonna do that too, and

672
00:36:55,239 --> 00:36:57,800
Speaker 1: we're gonna kind of put our nuclear weapons on standby,

673
00:36:57,840 --> 00:36:59,640
Speaker 1: And no one is doing this because they really want

674
00:36:59,680 --> 00:37:02,880
Speaker 1: to tweet this as an incredibly serious thing. Nucle weapons.

675
00:37:02,920 --> 00:37:04,640
Speaker 1: This is not a joke and we should not be

676
00:37:04,800 --> 00:37:07,160
Speaker 1: using them around as if as if there was one.

677
00:37:08,040 --> 00:37:10,440
Speaker 1: And heading into these talks, we've also heard from Ukrainian

678
00:37:10,480 --> 00:37:14,239
Speaker 1: President Zelinski calling for fast track membership into the European

679
00:37:14,480 --> 00:37:17,840
Speaker 1: Union now and a response from the head of the

680
00:37:17,920 --> 00:37:21,640
Speaker 1: European Union that they're differing opinions on enlarging the block.

681
00:37:21,719 --> 00:37:25,719
Speaker 1: They expect that formal requests to join the alliance in

682
00:37:25,800 --> 00:37:30,239
Speaker 1: the coming days. Here, what's the appetite for further diplomatic

683
00:37:30,400 --> 00:37:34,759
Speaker 1: support for Ukraine, even along the lines of bringing them

684
00:37:34,840 --> 00:37:39,400
Speaker 1: into the European Union. Look, I think we we we

685
00:37:39,520 --> 00:37:41,200
Speaker 1: have to be clearer on on a number of things.

686
00:37:41,440 --> 00:37:43,960
Speaker 1: When you look at the way the European Union works,

687
00:37:44,080 --> 00:37:47,200
Speaker 1: you're doing it what sometimes is a various low process

688
00:37:47,320 --> 00:37:51,080
Speaker 1: to agree on things, and any move, of course, takes

689
00:37:51,120 --> 00:37:53,960
Speaker 1: twenty seven countries. The twenty seven countries that form the

690
00:37:54,040 --> 00:37:57,920
Speaker 1: European Union, and it has to be agreed unanimously. Up

691
00:37:58,000 --> 00:38:00,520
Speaker 1: until now, this membership is something that is written in

692
00:38:00,640 --> 00:38:03,240
Speaker 1: the Ukrainian Constitution, by the way, and that they've always

693
00:38:03,239 --> 00:38:06,400
Speaker 1: said they aspired to. There was a clear message yesterday

694
00:38:06,440 --> 00:38:08,680
Speaker 1: from the head of the European Commission which runs this thing,

695
00:38:09,080 --> 00:38:12,320
Speaker 1: singing Ukraine as europe weview them as Europeans and we

696
00:38:12,560 --> 00:38:15,480
Speaker 1: want them in Europe. But I have to be very

697
00:38:15,560 --> 00:38:17,719
Speaker 1: honest here, is it's going to happen overnight? Will my

698
00:38:17,920 --> 00:38:20,560
Speaker 1: take and and based on my understanding on how the

699
00:38:20,640 --> 00:38:24,440
Speaker 1: European Union works, it's naive to say that it will.

700
00:38:24,600 --> 00:38:26,520
Speaker 1: A lot of this have to do with giving hope

701
00:38:26,560 --> 00:38:29,920
Speaker 1: to the people of Ukraine, to given them a perspective

702
00:38:30,120 --> 00:38:33,080
Speaker 1: for the future. But do not expect that this membership

703
00:38:33,160 --> 00:38:35,280
Speaker 1: is going to happen overnight. That's not how the European

704
00:38:35,400 --> 00:38:38,560
Speaker 1: Union works. Great insights, Maria, thanks for this. Good to

705
00:38:38,640 --> 00:38:41,160
Speaker 1: have you with us this morning. Maria today O Bloomberg

706
00:38:41,200 --> 00:38:45,640
Speaker 1: News correspondent joining us from Geneva, Switzerland. Karen all right, Nathan,

707
00:38:45,719 --> 00:38:48,920
Speaker 1: thank you, and it is five fifty three on walls

708
00:38:49,000 --> 00:38:52,239
Speaker 1: straight time now for the Bloomberg's Law Report, brought to

709
00:38:52,360 --> 00:38:57,080
Speaker 1: you by American Arbitration Association, business disputes are inevitable, resolve

710
00:38:57,160 --> 00:39:00,400
Speaker 1: faster with the American Arbitration Association, the global leader in

711
00:39:00,440 --> 00:39:04,080
Speaker 1: alternative dispute resolution for over ninety years. More at a

712
00:39:04,320 --> 00:39:07,960
Speaker 1: d R dot org. Now a legal story we're following

713
00:39:08,000 --> 00:39:10,880
Speaker 1: this morning brings us to the Supreme Court. President Biden

714
00:39:11,000 --> 00:39:15,440
Speaker 1: has nominated Federal Appeals Court judge Katanji Brown Jackson to

715
00:39:15,480 --> 00:39:18,040
Speaker 1: be the first black woman on the High Court. Jackson

716
00:39:18,080 --> 00:39:21,520
Speaker 1: brings an unusual set of professional experiences, including a background

717
00:39:21,560 --> 00:39:24,080
Speaker 1: as a public defender and a record of work on

718
00:39:24,440 --> 00:39:28,280
Speaker 1: disparities and criminal punishment. For more in the nominee Bloomberg,

719
00:39:28,320 --> 00:39:31,600
Speaker 1: student Grosso speaks to Leah Littman, a professor at the

720
00:39:31,680 --> 00:39:35,960
Speaker 1: University of Michigan Law School. What does Katanji Brown Jackson

721
00:39:36,080 --> 00:39:39,279
Speaker 1: bring to the court. Katanji Brown Jackson brings so many

722
00:39:39,400 --> 00:39:41,400
Speaker 1: things to the Supreme Court it would be difficult to

723
00:39:41,480 --> 00:39:44,520
Speaker 1: list them all. First, she has experience as a public disfender.

724
00:39:44,800 --> 00:39:47,520
Speaker 1: That is a perspective that is currently missing on the

725
00:39:47,560 --> 00:39:50,520
Speaker 1: Supreme Court. She is also a former district judge. She's

726
00:39:50,560 --> 00:39:53,960
Speaker 1: also someone with trial experience. Only Justice Soto mayor on

727
00:39:54,080 --> 00:39:57,160
Speaker 1: the Supreme Court previously worked as a district judge, someone

728
00:39:57,239 --> 00:40:01,120
Speaker 1: who actually oversaw trials. Judge Katanji and Jackson also worked

729
00:40:01,160 --> 00:40:04,759
Speaker 1: on the Sentencing Commission that oversees all federal sentencing within

730
00:40:04,840 --> 00:40:07,400
Speaker 1: the Federal Court. That's just some of the expertise she

731
00:40:07,480 --> 00:40:09,360
Speaker 1: brings to the Court. Of course, she also clerks for

732
00:40:09,440 --> 00:40:12,360
Speaker 1: Justice Brier, so she knows the person who she is replacing.

733
00:40:12,800 --> 00:40:15,360
Speaker 1: She's a two time graduate of Harvard, both for college

734
00:40:15,440 --> 00:40:17,640
Speaker 1: and for law school, and she will be the first

735
00:40:17,680 --> 00:40:20,160
Speaker 1: black woman to serve on the Supreme Court. She will

736
00:40:20,160 --> 00:40:23,520
Speaker 1: be an incredible justice and she's eminently qualified for the position.

737
00:40:24,400 --> 00:40:28,040
Speaker 1: She's been seen as the leading contender for quite some time.

738
00:40:28,400 --> 00:40:31,600
Speaker 1: There were two other judges on the short list. What

739
00:40:31,760 --> 00:40:35,440
Speaker 1: does she bring that set her apart? Jackson brings a

740
00:40:35,520 --> 00:40:38,080
Speaker 1: kind of professional diversity to the Supreme Court that is

741
00:40:38,120 --> 00:40:41,920
Speaker 1: really lacking and really important, namely her experience working with

742
00:40:42,400 --> 00:40:45,960
Speaker 1: indigent criminal defendants. Um. There is no public defender on

743
00:40:46,040 --> 00:40:48,600
Speaker 1: the Supreme Court. There is no lawyer who has been

744
00:40:48,640 --> 00:40:51,560
Speaker 1: a civil rights lawyer on the Supreme Court. Judge County

745
00:40:51,640 --> 00:40:54,120
Speaker 1: Brown Jackson will bring those respectives to the Court, and

746
00:40:54,360 --> 00:40:56,880
Speaker 1: the other nominees did not, even though they would have

747
00:40:57,120 --> 00:40:59,600
Speaker 1: brought other forms of professional diversity to the court, and

748
00:40:59,680 --> 00:41:04,600
Speaker 1: President Insiden has really emphasized the importance of bringing public defenders,

749
00:41:04,640 --> 00:41:07,919
Speaker 1: bringing civil rights lawyers into the federal courts. Supreme Court

750
00:41:08,040 --> 00:41:14,120
Speaker 1: confirmation hearings have become very confrontational and sometimes downright nasty.

751
00:41:14,560 --> 00:41:16,759
Speaker 1: Less than a year ago, she was confirmed to the

752
00:41:16,840 --> 00:41:20,120
Speaker 1: d C. Circuit Court of Appeals. But it's different when

753
00:41:20,160 --> 00:41:23,000
Speaker 1: it's the Supreme Court. It is different when it is

754
00:41:23,080 --> 00:41:26,160
Speaker 1: the Supreme Court. I think objectively, we should expect that

755
00:41:26,239 --> 00:41:28,840
Speaker 1: these hearings to be frankly quite easy. You know, she

756
00:41:28,960 --> 00:41:31,760
Speaker 1: sailed through the last round of confirmation hearings for a reason.

757
00:41:32,120 --> 00:41:35,440
Speaker 1: She sailed through with the support of Republican senators. Nothing

758
00:41:35,560 --> 00:41:39,959
Speaker 1: meaningful has changed from then to now except the courts

759
00:41:40,000 --> 00:41:43,560
Speaker 1: to which she is appointed. She has the same superb qualifications,

760
00:41:43,760 --> 00:41:46,920
Speaker 1: She has the same excellent professional background, she has the

761
00:41:47,000 --> 00:41:51,080
Speaker 1: same temperament. This is someone who, by any conventional metrics,

762
00:41:51,160 --> 00:41:53,960
Speaker 1: should sail through the Supreme Court confirmation process. That's not

763
00:41:54,080 --> 00:41:57,400
Speaker 1: to say she will, but this is someone who's qualifications,

764
00:41:57,440 --> 00:42:02,120
Speaker 1: who's temperament, whose professor history all suggest this should be

765
00:42:02,160 --> 00:42:05,600
Speaker 1: a very easy confirmation. And that's University of Michigan law

766
00:42:05,640 --> 00:42:08,839
Speaker 1: professor Lea Littman speaking with the Bloomberg Stone Grosso. Catch

767
00:42:08,920 --> 00:42:11,600
Speaker 1: more of that interview, plus analysis of the latest legal

768
00:42:11,680 --> 00:42:14,160
Speaker 1: news by listening to the Bloomberg Law Show at ten

769
00:42:14,200 --> 00:42:17,239
Speaker 1: pm Eastern Time or subscribing to the Bloomberg Law Podcast,

770
00:42:17,520 --> 00:42:20,680
Speaker 1: and attorneys can find exceptional legal research and business development

771
00:42:20,719 --> 00:42:25,080
Speaker 1: tools at Bloomberg Law dot com. SMP future is down

772
00:42:25,160 --> 00:42:28,680
Speaker 1: the sixty one points as down one point four per cents,

773
00:42:28,760 --> 00:42:31,000
Speaker 1: so off. There are loads of the morning down futures

774
00:42:31,040 --> 00:42:34,440
Speaker 1: down four hundred eleven and NASDAG futures down one hundred

775
00:42:34,520 --> 00:42:37,520
Speaker 1: and ninety three. Ten year treasury of eleven thirty seconds,

776
00:42:37,560 --> 00:42:41,080
Speaker 1: the yelled one point nine and two pers said, and

777
00:42:41,680 --> 00:42:44,480
Speaker 1: straight ahead we have our top stories. As Bloomberg day

778
00:42:44,520 --> 00:42:46,520
Speaker 1: Break continues. This is Bloomberg