1 00:00:02,560 --> 00:00:05,880 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:05,960 --> 00:00:09,760 Speaker 1: day Break for Wednesday, March two. Coming up this hour, 3 00:00:10,039 --> 00:00:13,000 Speaker 1: questions this morning over RUSSI has promised to scale back 4 00:00:13,080 --> 00:00:17,360 Speaker 1: military operations. The January six Committee discovers big gaps and 5 00:00:17,440 --> 00:00:21,239 Speaker 1: former President Trump's phone logs US future slump after four 6 00:00:21,320 --> 00:00:23,919 Speaker 1: straight days of games, and hackers pull off one of 7 00:00:23,920 --> 00:00:27,840 Speaker 1: the biggest crypto heist ever. Three Buffalo police officers were shot, 8 00:00:27,880 --> 00:00:30,480 Speaker 1: plus the White House wam block President Trump's daughter and 9 00:00:30,600 --> 00:00:34,240 Speaker 1: son in law from testifying before House Committee. Michael barn 10 00:00:34,360 --> 00:00:37,720 Speaker 1: More and John stashdown Sports Kevin Durant led the Nets 11 00:00:37,760 --> 00:00:40,440 Speaker 1: to victory over the Pistons, Chris Cryder and the Rangers 12 00:00:40,520 --> 00:00:45,320 Speaker 1: with a road win at Pittsburgh. That's all straight ahead 13 00:00:45,400 --> 00:00:49,120 Speaker 1: on Bloomberg day Break on Bloomberg Element Tree on New York, 14 00:00:49,280 --> 00:00:54,000 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, 15 00:00:54,160 --> 00:00:58,680 Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen 16 00:00:59,040 --> 00:01:01,760 Speaker 1: and around the world. Go on Bloomberg Radio dot Com 17 00:01:01,880 --> 00:01:08,440 Speaker 1: and via the Bloomberg Business Set. Good morning, I'm Nathan 18 00:01:08,440 --> 00:01:11,880 Speaker 1: Hagar and I'm kmeron Moscow and US futures are lower 19 00:01:11,880 --> 00:01:13,800 Speaker 1: this morning. We're coming up to five o one on 20 00:01:13,800 --> 00:01:16,040 Speaker 1: Wall Street, and we check the markets every fifteen minutes 21 00:01:16,080 --> 00:01:19,240 Speaker 1: throughout the trading day on Bloomberg. Right now, SNP futures 22 00:01:19,280 --> 00:01:23,360 Speaker 1: are down seventeen points, DAL futures down one seven and 23 00:01:23,480 --> 00:01:27,319 Speaker 1: NASDAG futures down the seventy two. The ten year treasury 24 00:01:27,360 --> 00:01:30,080 Speaker 1: is up to thirty seconds l two point three eight 25 00:01:30,120 --> 00:01:33,880 Speaker 1: percent yield on the two year two point three zero percent. 26 00:01:34,319 --> 00:01:36,920 Speaker 1: NI back screwed oil is up two point four percent, 27 00:01:37,000 --> 00:01:39,160 Speaker 1: up two dollars fifty two cents and a hundred six 28 00:01:39,160 --> 00:01:42,080 Speaker 1: dollars seventy four cents of barrel. The euro one point 29 00:01:42,160 --> 00:01:45,360 Speaker 1: one three against the dollar. Nathan, Well, Karen, we'll have 30 00:01:45,400 --> 00:01:47,280 Speaker 1: more on markets in a minute, but first let's get 31 00:01:47,280 --> 00:01:49,560 Speaker 1: to the latest on the war in Ukraine. Russia is 32 00:01:49,600 --> 00:01:52,840 Speaker 1: promising to scale back military operations near the capital city 33 00:01:52,840 --> 00:01:55,080 Speaker 1: of Kiev and the city of churning of but there's 34 00:01:55,120 --> 00:01:58,800 Speaker 1: still reports of showing near both cities. President Biden was 35 00:01:58,840 --> 00:02:01,240 Speaker 1: asked whether he thinks the war resending or Rush is 36 00:02:01,440 --> 00:02:05,240 Speaker 1: just buying time. We'll see. I don't read anything into 37 00:02:05,360 --> 00:02:08,160 Speaker 1: until I see what their actions are. We'll see if 38 00:02:08,160 --> 00:02:10,640 Speaker 1: they follow through and with their suggesting, the President Biden 39 00:02:10,680 --> 00:02:13,040 Speaker 1: spoke at the news conference with the Prime Minister Singapore. 40 00:02:13,120 --> 00:02:16,920 Speaker 1: Ukrainian President Vladimir Zelenski also has his doubts. Got more. 41 00:02:18,000 --> 00:02:19,880 Speaker 1: We can say that the signals we hear from the 42 00:02:19,919 --> 00:02:23,520 Speaker 1: talks are positive, but these signals can't silence the explosions 43 00:02:23,520 --> 00:02:26,680 Speaker 1: of Russian shells. President Zelensky says their grounds not to 44 00:02:26,760 --> 00:02:29,639 Speaker 1: trust Russia. A regional governor says the city of Churnhead 45 00:02:29,680 --> 00:02:33,160 Speaker 1: was shelled all night despite Russia's promises, and the United 46 00:02:33,240 --> 00:02:36,200 Speaker 1: Nations now says more than four million refugees have fled 47 00:02:36,280 --> 00:02:40,200 Speaker 1: Ukraine Back in the US, Nathan new revelations tied to 48 00:02:40,280 --> 00:02:42,760 Speaker 1: last year's attack on the Capitol. There are more than 49 00:02:42,960 --> 00:02:46,400 Speaker 1: seven hours of gaps in White House telephone logs from 50 00:02:46,440 --> 00:02:49,960 Speaker 1: the afternoon of January six, and those gaps coinside at 51 00:02:49,960 --> 00:02:53,440 Speaker 1: the same time protesters swarm the US capital. Amy Morris 52 00:02:53,440 --> 00:02:57,639 Speaker 1: has details from our Bloomberg newsroom in Washington. The committee 53 00:02:57,680 --> 00:03:00,680 Speaker 1: investigating the insurrection found a big gap from a little 54 00:03:00,720 --> 00:03:04,000 Speaker 1: after eleven am to about seven pm in the logs 55 00:03:04,080 --> 00:03:07,560 Speaker 1: provided by the National Archives, but there is evidence that 56 00:03:07,600 --> 00:03:10,800 Speaker 1: the president did talk with people inside the Capitol that day, 57 00:03:11,000 --> 00:03:15,000 Speaker 1: including Kevin McCarthy, Jim Jordan's, and Mike Pence calls that 58 00:03:15,080 --> 00:03:17,720 Speaker 1: don't show up on the White House logs. Now, the 59 00:03:17,720 --> 00:03:20,720 Speaker 1: committee is trying to determine if the President bypassed the 60 00:03:20,720 --> 00:03:24,040 Speaker 1: White House system by using a burner phone or his 61 00:03:24,160 --> 00:03:28,200 Speaker 1: AIDS cell phones in Washington. I maybe more as Bloomberg daybreak. 62 00:03:28,280 --> 00:03:30,720 Speaker 1: Okay me, thank you. Let's take a look at markets now. 63 00:03:30,760 --> 00:03:34,880 Speaker 1: Beginning with treasuries, the tenure yield briefly dropped below it's 64 00:03:34,920 --> 00:03:39,600 Speaker 1: two year equivalent yesterday for the first time since that inversions, 65 00:03:39,680 --> 00:03:42,600 Speaker 1: leading to growing calls about the likelihood of a recession 66 00:03:42,680 --> 00:03:45,480 Speaker 1: in the US, but Aaron Brown at Pimco says those 67 00:03:45,480 --> 00:03:49,680 Speaker 1: concerns may be premature. It has been a good predictor 68 00:03:49,720 --> 00:03:52,440 Speaker 1: in the past that recession is coming, but I don't 69 00:03:52,480 --> 00:03:55,360 Speaker 1: think that really tells you anything new. We knew that 70 00:03:55,440 --> 00:03:59,000 Speaker 1: we're relate cycle, and typically the yield curban birds and 71 00:03:59,040 --> 00:04:01,720 Speaker 1: then it takes anywhere from eighteen twenty four months to 72 00:04:01,760 --> 00:04:05,040 Speaker 1: actually move into a recession. So we're still quite a 73 00:04:05,080 --> 00:04:08,960 Speaker 1: ways out until potentially we're going to enter into a recession. 74 00:04:09,240 --> 00:04:12,600 Speaker 1: Pimco fund manager Aaron Brown says, it is more critical 75 00:04:12,640 --> 00:04:15,480 Speaker 1: to look at why the yield curve is inverting. Meantime, 76 00:04:15,520 --> 00:04:17,320 Speaker 1: all eyes are on the Fed. We will hear more 77 00:04:17,360 --> 00:04:19,640 Speaker 1: from the Central Bank later today. Tune in for an 78 00:04:19,680 --> 00:04:23,480 Speaker 1: exclusive interview with Richmond Fed President Tom Barkin. That's coming 79 00:04:23,520 --> 00:04:25,839 Speaker 1: up at ten thirty am All Street Time today on 80 00:04:25,880 --> 00:04:28,560 Speaker 1: Bloomberg Radio and Television. Well, Nathan, when it comes to 81 00:04:28,680 --> 00:04:31,360 Speaker 1: stocks who are coming out four straight days of games, 82 00:04:31,400 --> 00:04:34,040 Speaker 1: the S and P five Hybread closed above the hundred 83 00:04:34,120 --> 00:04:37,040 Speaker 1: level for the first time since mid January. Right now, 84 00:04:37,080 --> 00:04:39,600 Speaker 1: it's down just three percent from an all time high. 85 00:04:39,880 --> 00:04:43,240 Speaker 1: Luca Paolini, as chief strategist at Picked and Asset Management, 86 00:04:43,600 --> 00:04:46,720 Speaker 1: Marcus were significantly were sold for the number of reasons, 87 00:04:46,760 --> 00:04:50,719 Speaker 1: of course, the wor in Ukraine, the federal reserves, weekend data, 88 00:04:51,160 --> 00:04:53,880 Speaker 1: and now everything seems to be not as bad as 89 00:04:54,240 --> 00:04:56,080 Speaker 1: it was, and so I think that there is this 90 00:04:56,200 --> 00:04:59,960 Speaker 1: kind of sort of really friendly LOOKA Paolini at Pick 91 00:05:00,040 --> 00:05:03,599 Speaker 1: Ted Asset Management says despite the rally, he remains conscious. 92 00:05:03,920 --> 00:05:07,200 Speaker 1: Bank of America is also staying cautious. Karenet's analysts worn 93 00:05:07,200 --> 00:05:10,200 Speaker 1: in eleven percent Surgeon stocks over the past two weeks. 94 00:05:10,440 --> 00:05:13,279 Speaker 1: Has the hallmarks of a bear market rally, and it 95 00:05:13,360 --> 00:05:15,800 Speaker 1: might give way to deeper losses. We get the details 96 00:05:15,839 --> 00:05:19,680 Speaker 1: from Bloomberg's Charlie Pellett. Those analysts say warning signs are 97 00:05:19,800 --> 00:05:25,080 Speaker 1: flashing for a market that has climbed despite clearly weaker fundamentals, 98 00:05:25,120 --> 00:05:28,520 Speaker 1: including a Federal Reserve bent on raising rates sharply this 99 00:05:28,640 --> 00:05:33,039 Speaker 1: year the battle persistent inflation. The strategists cautioned that the 100 00:05:33,080 --> 00:05:36,480 Speaker 1: sell off that took the SMP five hundred twelve percent 101 00:05:36,560 --> 00:05:40,400 Speaker 1: from its January record is not over, and sharp rallies 102 00:05:40,440 --> 00:05:44,040 Speaker 1: are typical of volatility and bear markets, with some of 103 00:05:44,080 --> 00:05:46,800 Speaker 1: the biggest on record occurring in the throes of the 104 00:05:46,880 --> 00:05:51,320 Speaker 1: dot com meltdown and the global financial crisis in New York. 105 00:05:51,400 --> 00:05:54,280 Speaker 1: Charlie Pellett, Bloomberg day Break. Sorry Charlie, thank you. But 106 00:05:54,360 --> 00:05:56,360 Speaker 1: let's look at some stocks that are moving. Shares A 107 00:05:56,440 --> 00:05:58,920 Speaker 1: Lulu Lemon rose more than eight percent in late trading 108 00:05:58,960 --> 00:06:02,840 Speaker 1: the Athletic, where tailor delivered a sales forecast that beat estimates. 109 00:06:03,160 --> 00:06:05,760 Speaker 1: Micron shares are out more than four and a half percent. 110 00:06:05,839 --> 00:06:09,120 Speaker 1: The largest US memory chipmaker, gave an upbeat forecast, a 111 00:06:09,240 --> 00:06:12,320 Speaker 1: sign that demand remans strong from data center customers and 112 00:06:12,320 --> 00:06:15,000 Speaker 1: on the flip side. Shares of Chewy are down thirteen 113 00:06:15,040 --> 00:06:17,480 Speaker 1: and a half percent. The online retailer of pet care 114 00:06:17,560 --> 00:06:20,520 Speaker 1: products put out of forecast that fell short of estimates. 115 00:06:20,760 --> 00:06:23,600 Speaker 1: We're also keeping an eye on cryptocurrencies this morning, Karen, 116 00:06:23,680 --> 00:06:25,760 Speaker 1: after what is being called one of the biggest crypto 117 00:06:25,800 --> 00:06:29,039 Speaker 1: attacks ever, and it wasn't discovered for almost a week. 118 00:06:29,400 --> 00:06:32,560 Speaker 1: Let's get the details live from Bloomberg's Fernita Young. Good morning, Granita, 119 00:06:32,600 --> 00:06:36,400 Speaker 1: Good morning, Nathan. Hackers stole about six hundred million dollars 120 00:06:36,440 --> 00:06:40,200 Speaker 1: from a blockchain network connected to the popular Axie Infinity 121 00:06:40,320 --> 00:06:43,560 Speaker 1: online game. They drained what's known as the Ronan bridge 122 00:06:43,560 --> 00:06:46,240 Speaker 1: of close to a hundred seventy four thousand ether and 123 00:06:46,360 --> 00:06:50,040 Speaker 1: almost thirty million U s DC tokens. The so called 124 00:06:50,040 --> 00:06:53,159 Speaker 1: bridge lets people convert tokens into ones that can be 125 00:06:53,240 --> 00:06:57,240 Speaker 1: used on another network. The blockchain that supports Axie Infinity 126 00:06:57,480 --> 00:07:00,159 Speaker 1: says the breach happened in March twenty three, but is 127 00:07:00,240 --> 00:07:03,840 Speaker 1: just discovered yesterday. This attack is the latest to show 128 00:07:03,839 --> 00:07:07,719 Speaker 1: how bridge hecks can threaten the ecosystem of decentralized apps. 129 00:07:08,279 --> 00:07:10,560 Speaker 1: Live in New York. I'm re need a Young Bloomberg 130 00:07:10,640 --> 00:07:12,400 Speaker 1: day break, All right, We need to thank you again. 131 00:07:12,480 --> 00:07:15,680 Speaker 1: Future is lower this morning, straight ahead, your latest local headlines, 132 00:07:15,760 --> 00:07:23,560 Speaker 1: plus a check of sports, and this is Bloomberg. Thanks Caring. 133 00:07:23,600 --> 00:07:25,559 Speaker 1: It's five oh seven on Wall Street where thirty degrees 134 00:07:25,600 --> 00:07:28,520 Speaker 1: in Central Park. Big problems on southbound Route one and nine. 135 00:07:28,520 --> 00:07:31,880 Speaker 1: It is closed for an accident investigation at Woodlawn Avenue. 136 00:07:31,920 --> 00:07:34,480 Speaker 1: We'll get the details in traffic First. Michael Barr has 137 00:07:34,520 --> 00:07:36,360 Speaker 1: more on what's going on in New York and around 138 00:07:36,400 --> 00:07:38,720 Speaker 1: the world. Good morning, Michael, Good morning Nathan. It was 139 00:07:38,760 --> 00:07:41,880 Speaker 1: a wild scene up in Buffalo. Three police officers were 140 00:07:41,960 --> 00:07:45,840 Speaker 1: hit by gunfire after a motorist fled a traffic stop 141 00:07:46,080 --> 00:07:48,480 Speaker 1: and led them on a chase through the city streets. 142 00:07:48,880 --> 00:07:51,960 Speaker 1: The suspected gunman was firing at officers from the Vehicle 143 00:07:52,240 --> 00:07:55,000 Speaker 1: Authority Stay. Officers shot and wounded the driver at an 144 00:07:55,040 --> 00:07:58,720 Speaker 1: intersection in front of a police station. Buffalo Mayor Byron 145 00:07:58,800 --> 00:08:05,120 Speaker 1: Brown very very dangerous situation, and we are very thankful 146 00:08:05,880 --> 00:08:10,680 Speaker 1: that two suspects involved in this situation are in police 147 00:08:10,720 --> 00:08:14,800 Speaker 1: custody are Brown says. The officers injuries were not life 148 00:08:14,800 --> 00:08:17,920 Speaker 1: threatening and no civilians on the street were hit by 149 00:08:18,040 --> 00:08:21,120 Speaker 1: the flying bullets. The White House were not block former 150 00:08:21,160 --> 00:08:24,320 Speaker 1: President Donald Trump's daughter and son in law of Aunca 151 00:08:24,400 --> 00:08:27,960 Speaker 1: Trump and Jared Kushner from testifying to the House committee 152 00:08:27,960 --> 00:08:32,160 Speaker 1: investigating the January six Capital riot. White House spokeswoman Kate 153 00:08:32,200 --> 00:08:37,120 Speaker 1: Beddenfield says the constitutional protections of executive privilege should not 154 00:08:37,280 --> 00:08:40,640 Speaker 1: be used to shield from Congress or the public information 155 00:08:40,920 --> 00:08:45,240 Speaker 1: about an attack on the Constitution itself. Kushner is expected 156 00:08:45,280 --> 00:08:48,800 Speaker 1: to appear voluntarily before the committee this week. A team 157 00:08:48,840 --> 00:08:52,599 Speaker 1: of US airplane accident investigators and technical experts could have 158 00:08:52,760 --> 00:08:55,760 Speaker 1: to China as soon as this week to help unravel 159 00:08:55,840 --> 00:08:58,680 Speaker 1: the mysterious crash of a Boeing seven thirty seven jet 160 00:08:58,920 --> 00:09:02,079 Speaker 1: earlier this month. All one thirty two people on board 161 00:09:02,080 --> 00:09:05,480 Speaker 1: the China Eastern jet were killed. President Joe Biden signed 162 00:09:05,480 --> 00:09:08,400 Speaker 1: a law making lynching a federal hate crime. The President 163 00:09:08,480 --> 00:09:11,680 Speaker 1: said racial hate isn't an old problem. It's a persistent one. 164 00:09:11,960 --> 00:09:16,720 Speaker 1: Hate never goes away. It only hides. It hides under 165 00:09:16,720 --> 00:09:21,240 Speaker 1: the rocks. Given just a little bit of oxygen, it 166 00:09:21,320 --> 00:09:26,680 Speaker 1: comes roaring back out, screaming President Biden. An American astronaut 167 00:09:26,720 --> 00:09:29,400 Speaker 1: who spent nearly a year on the International Space Station, 168 00:09:29,520 --> 00:09:31,880 Speaker 1: is coming back to a world that has seen some 169 00:09:31,960 --> 00:09:35,880 Speaker 1: dramatic changes. Mark Vanda High will be returning to Earth 170 00:09:35,960 --> 00:09:38,360 Speaker 1: and for a time it wasn't clear that the Russians 171 00:09:38,360 --> 00:09:40,280 Speaker 1: would give him a ride home because of the war 172 00:09:40,320 --> 00:09:44,800 Speaker 1: in Ukraine. Before departing the I S S, Russian cosmonaut 173 00:09:44,800 --> 00:09:50,480 Speaker 1: Anti Scarpolof talked about continued cooperation in space. People have 174 00:09:50,640 --> 00:09:55,560 Speaker 1: problem on us on orbit. Yeah, like, uh, You'm not 175 00:09:55,640 --> 00:09:59,640 Speaker 1: like one crew Scarpolof and Vanda High or due to 176 00:09:59,720 --> 00:10:02,800 Speaker 1: land in Kazakhstan. This morning Global News twenty four hours 177 00:10:02,840 --> 00:10:04,800 Speaker 1: a day on the air, end on Bloomberg Quick Take 178 00:10:04,840 --> 00:10:07,280 Speaker 1: Forward by more than seven hundred journalists, analysts more than 179 00:10:07,280 --> 00:10:10,080 Speaker 1: a hundred, twenty countries. Michael Barr, This is Bloomberg, Nathan, 180 00:10:10,120 --> 00:10:16,640 Speaker 1: Thanks Michael. Just about five ten on Lall Street, Time 181 00:10:16,679 --> 00:10:19,640 Speaker 1: for the Bloomberg Sports Upday. Good morning, John Stanshown, Good morning, Nathan. 182 00:10:19,720 --> 00:10:23,880 Speaker 1: Regular seasons winding down, playoff positions being jockeyed. Four Rangers 183 00:10:23,920 --> 00:10:26,040 Speaker 1: would love to have home ice advantage of the first rally. 184 00:10:26,080 --> 00:10:28,760 Speaker 1: Only lost six regulation home games all season. They're battling 185 00:10:28,840 --> 00:10:31,280 Speaker 1: with Pittsburgh and they beat the Penguins three to two 186 00:10:31,360 --> 00:10:33,720 Speaker 1: to move one point ahead. Frank Petronto and Raynge Schneider 187 00:10:33,800 --> 00:10:37,240 Speaker 1: scored second period Chris Cryder early in the third fifth 188 00:10:37,320 --> 00:10:39,600 Speaker 1: goal of the season for Crider. Islanders won four three 189 00:10:39,600 --> 00:10:42,480 Speaker 1: at Columbus, the Nets had to come from behind. In Brooklyn, 190 00:10:42,480 --> 00:10:46,000 Speaker 1: they meet Detroit one thirty three. Kevin Durant scored forty 191 00:10:46,080 --> 00:10:48,360 Speaker 1: one point at the Garden. N I T semi frontal 192 00:10:48,400 --> 00:10:50,600 Speaker 1: wins from Xavier in Texas, A and M. They'll play 193 00:10:50,640 --> 00:10:53,160 Speaker 1: tomorrow for the championship. Could be the last n I 194 00:10:53,280 --> 00:10:54,959 Speaker 1: T game in New York, at least for a while. 195 00:10:55,040 --> 00:10:58,440 Speaker 1: Until last year, the tournament always ended at MSG. Now 196 00:10:58,480 --> 00:11:00,960 Speaker 1: they're gonna move it to other cities and Florida could 197 00:11:01,040 --> 00:11:02,800 Speaker 1: not be win for the met over the Marlins. Other 198 00:11:02,840 --> 00:11:06,160 Speaker 1: home run for Francisco Lindor disappointment in his first season 199 00:11:06,160 --> 00:11:08,920 Speaker 1: as the Mattie's had four home runs in twenties spring 200 00:11:08,920 --> 00:11:12,240 Speaker 1: training at bats Yankees fourteen to two over the Phillies. 201 00:11:12,240 --> 00:11:15,680 Speaker 1: Fourth homer for Kyle Agashayoka. NFL Commissioner Roger get El 202 00:11:15,720 --> 00:11:18,040 Speaker 1: met the media at the owners meetings in Palm Beach. 203 00:11:18,040 --> 00:11:22,040 Speaker 1: Asked about the league possibly suspending quarterback des Shaun Watson 204 00:11:22,200 --> 00:11:25,880 Speaker 1: is still facing twenty two civil lasses for sexual misconduct. 205 00:11:25,920 --> 00:11:29,040 Speaker 1: Are people were working on it. Obviously, you know these 206 00:11:29,040 --> 00:11:33,560 Speaker 1: are serious chargets, so we're looking at this seriously. UM. 207 00:11:33,640 --> 00:11:37,079 Speaker 1: We now have obviously at least resolution from the criminal 208 00:11:37,120 --> 00:11:40,680 Speaker 1: side of it. Obviously there's still civil charges that are 209 00:11:40,720 --> 00:11:44,000 Speaker 1: going on, so our investigators hopefully will have access to 210 00:11:44,040 --> 00:11:46,959 Speaker 1: more information. Watson was recently traded to Cleveland. Whead have 211 00:11:47,000 --> 00:11:50,120 Speaker 1: got a massive new contract. John stash Allard Bloomberg Sports 212 00:11:50,200 --> 00:11:53,360 Speaker 1: Nathan Okay, John, Thanks SMP Future is now down fifteen points. 213 00:11:53,360 --> 00:11:56,280 Speaker 1: SA futures down a hundred nastact futures are by seventy 214 00:11:56,280 --> 00:11:58,360 Speaker 1: one point send your treasury or two point three eight 215 00:11:58,360 --> 00:12:01,680 Speaker 1: percent the two year at two points read zero spread 216 00:12:01,679 --> 00:12:08,439 Speaker 1: of seven basis points. This is Bloomberg Bloomberg eleven three O. 217 00:12:08,480 --> 00:12:11,080 Speaker 1: Weather cloudy. Today's showers possible this afternoon, a high near 218 00:12:11,120 --> 00:12:13,680 Speaker 1: fifty degrees. We could get up near seventy tomorrow with 219 00:12:13,720 --> 00:12:17,640 Speaker 1: more afternoon showers, upper fifties, partly sunny and breezy by Friday. 220 00:12:17,720 --> 00:12:23,360 Speaker 1: Right now thirty degrees in Central Park markets. Headlines and 221 00:12:23,480 --> 00:12:26,440 Speaker 1: breaking news twenty four hours a day at Bloomberg dot 222 00:12:26,520 --> 00:12:29,680 Speaker 1: com for the Bloomberg Business out and at Bloomberg Quick Tape. 223 00:12:29,920 --> 00:12:39,160 Speaker 1: This is a Bloomberg Business Lash and I'm Karen. Moscow 224 00:12:39,200 --> 00:12:42,640 Speaker 1: stocks are falling, energy prices are rising. Is optimism about 225 00:12:42,640 --> 00:12:45,840 Speaker 1: a de escalation of the war in Ukraine fades. Europe 226 00:12:45,880 --> 00:12:48,680 Speaker 1: stock six hundred, snapping a three day winning streak after 227 00:12:48,720 --> 00:12:51,840 Speaker 1: surging to the highest level in five weeks. Yesterday, US 228 00:12:51,880 --> 00:12:54,839 Speaker 1: stock index futures are slipping amid warnings that gains of 229 00:12:54,880 --> 00:12:57,360 Speaker 1: the past two weeks have the hallmarks of a bear 230 00:12:57,440 --> 00:12:59,920 Speaker 1: market rally. We checked the markets every fifteen minutes throughout 231 00:12:59,920 --> 00:13:02,480 Speaker 1: the trading day. On Bloomberg, Guess and p Future is 232 00:13:02,520 --> 00:13:05,719 Speaker 1: down fourteen points down, futures down eighty nine, vast deck 233 00:13:05,760 --> 00:13:08,480 Speaker 1: features down sixty five. The decks in Germany's down one 234 00:13:08,520 --> 00:13:11,559 Speaker 1: point three percent ten Your treasury up one thirty second 235 00:13:11,640 --> 00:13:14,199 Speaker 1: yeld two point three nine percent, yield on the two 236 00:13:14,280 --> 00:13:17,439 Speaker 1: year two point three one percent. NIMEX screwed to oil 237 00:13:17,600 --> 00:13:20,040 Speaker 1: is up two point seven percent of two dollars eighty 238 00:13:20,040 --> 00:13:22,440 Speaker 1: two cents at a hundred seven dollars six cents of barrel. 239 00:13:22,679 --> 00:13:25,280 Speaker 1: Comax school is up three tens percent or six dollars 240 00:13:25,320 --> 00:13:28,560 Speaker 1: ten cents. At nineteen twenty four twenty announced the euro 241 00:13:28,679 --> 00:13:31,440 Speaker 1: one point one eight against the dollar, British bound one 242 00:13:31,440 --> 00:13:33,760 Speaker 1: point three one four or five, the yen at one 243 00:13:33,800 --> 00:13:37,480 Speaker 1: twenty one point six eight, and bitcoin this morning is 244 00:13:37,559 --> 00:13:40,080 Speaker 1: down about a third of a percent at forty seven thousand, 245 00:13:40,160 --> 00:13:43,360 Speaker 1: three hundred ten dollars, and confidence in the Euro Area 246 00:13:43,360 --> 00:13:45,679 Speaker 1: economy fell to the weakest level in a year as 247 00:13:45,760 --> 00:13:49,400 Speaker 1: Russia's invasion of Ukraine fan fears of rising prices. A 248 00:13:49,480 --> 00:13:52,280 Speaker 1: sentiment engaged by the European Commission declined to a hundred 249 00:13:52,280 --> 00:13:54,880 Speaker 1: eight point five in March from one hundred fourteen point 250 00:13:54,920 --> 00:13:58,040 Speaker 1: one the previous month, and inflation expectations jumped to the 251 00:13:58,120 --> 00:14:02,640 Speaker 1: Hyacinths records began. And that's a bloomberg business flash. Now 252 00:14:02,720 --> 00:14:05,000 Speaker 1: here's Michael Barr with more on what's going on around 253 00:14:05,000 --> 00:14:08,439 Speaker 1: the world. Michael, good morning, Good morning, Karen. Russia's pledged 254 00:14:08,480 --> 00:14:12,400 Speaker 1: to scale back some military operations in Ukraine is drawing skepticism. 255 00:14:12,840 --> 00:14:16,319 Speaker 1: Ukrainian President volodimir's Lensky said there was no reason to 256 00:14:16,360 --> 00:14:20,360 Speaker 1: believe Russia's announcement that it would reduce military activity near 257 00:14:20,400 --> 00:14:23,280 Speaker 1: the capital of Kiev given what's happening on the ground. 258 00:14:23,720 --> 00:14:27,120 Speaker 1: Thousands have died, and the UN Refugee Agency says more 259 00:14:27,160 --> 00:14:30,760 Speaker 1: than four million Ukrainians have fled the country. A green 260 00:14:30,840 --> 00:14:33,520 Speaker 1: light has been given to a second Boosters shot of 261 00:14:33,600 --> 00:14:37,560 Speaker 1: the MODERNA and Fiser vaccines where Americans over fifty and 262 00:14:37,600 --> 00:14:41,520 Speaker 1: the immune compromised. The decision comes as there's concern over 263 00:14:41,520 --> 00:14:44,720 Speaker 1: a new COVID nineteen variant. In the NBA, the Nets one, 264 00:14:44,800 --> 00:14:48,040 Speaker 1: the Wizards lost. In the NHL, the Rangers and Islanders won, 265 00:14:48,280 --> 00:14:51,280 Speaker 1: the Bruins lost. Global News twenty four hours a day 266 00:14:51,360 --> 00:14:54,240 Speaker 1: on air and on Bloomberg Quick Take, powered by more 267 00:14:54,280 --> 00:14:56,960 Speaker 1: than twenty hundred journalists and analysts in more than a 268 00:14:57,000 --> 00:15:00,000 Speaker 1: hundred twenty countries. Now, Michael Barr and this is Bloomberg. 269 00:15:00,360 --> 00:15:02,320 Speaker 1: All right, Michael, thank you, Just about five twenty on 270 00:15:02,360 --> 00:15:05,480 Speaker 1: Wall Street Live from the Bloomberg Interactive Broker Studios. This 271 00:15:05,600 --> 00:15:08,400 Speaker 1: is Bloomberg Daybreak and Mark Champion is back with us 272 00:15:08,400 --> 00:15:11,360 Speaker 1: this morning, Bloomberg News senior reporter for International Affairs, as 273 00:15:11,360 --> 00:15:14,680 Speaker 1: we follow the latest on the war in Ukraine. Market morning. 274 00:15:14,720 --> 00:15:17,000 Speaker 1: As you know, there was a lot of market optimism 275 00:15:17,160 --> 00:15:20,720 Speaker 1: yesterday when Russian negotiators said that they would scale back 276 00:15:20,760 --> 00:15:24,120 Speaker 1: military operations near two key cities in Ukraine. But it 277 00:15:24,200 --> 00:15:27,240 Speaker 1: seems like the reaction from just about everyone around the 278 00:15:27,280 --> 00:15:29,880 Speaker 1: world is we'll believe it when we see it. What 279 00:15:30,080 --> 00:15:34,280 Speaker 1: are we seeing at this point? Uh? Well, there was 280 00:15:34,440 --> 00:15:38,920 Speaker 1: fighting as usual overnight, with shelling in different areas around 281 00:15:39,000 --> 00:15:42,160 Speaker 1: Kief and around Chenehof, which is the other city that 282 00:15:42,520 --> 00:15:44,360 Speaker 1: the Russian said they were gonna pull back from, So 283 00:15:44,720 --> 00:15:46,520 Speaker 1: not much sign of any change of a night. That 284 00:15:46,560 --> 00:15:49,000 Speaker 1: wouldn't necessarily mean that the Russians aren't gonna do what 285 00:15:49,040 --> 00:15:52,800 Speaker 1: they said. But more broadly, we know for already about 286 00:15:52,840 --> 00:15:57,040 Speaker 1: two weeks now the Russians have been uh digging in 287 00:15:57,160 --> 00:16:01,640 Speaker 1: around Kief uh and around Chenehoff to kind of more 288 00:16:01,680 --> 00:16:05,880 Speaker 1: defensive positions UM, and that is likely to continue. They've 289 00:16:05,920 --> 00:16:11,200 Speaker 1: been moving units over into Bulous, either to regroup or 290 00:16:11,240 --> 00:16:16,880 Speaker 1: to replenish losses UH. And the question really is uh, 291 00:16:17,080 --> 00:16:19,000 Speaker 1: you know. At the same time, the Russians have said 292 00:16:19,040 --> 00:16:22,280 Speaker 1: that they are going to refocus their efforts on the east, 293 00:16:22,320 --> 00:16:25,880 Speaker 1: in the Donbass region around Mariopo, which is under siege UM, 294 00:16:25,920 --> 00:16:28,080 Speaker 1: and they've been doing that. And the question is whether 295 00:16:28,240 --> 00:16:34,000 Speaker 1: any units that retreat UM out of uh the northern areas, 296 00:16:34,080 --> 00:16:36,640 Speaker 1: whether those are then sent around to the other side 297 00:16:36,680 --> 00:16:38,880 Speaker 1: of the country in the east. So is there any 298 00:16:38,880 --> 00:16:42,280 Speaker 1: reason then to believe that when Russia says that it's 299 00:16:42,280 --> 00:16:45,360 Speaker 1: going to scale back, that that could be a first 300 00:16:45,360 --> 00:16:49,280 Speaker 1: step towards ending this war. I think the senses that 301 00:16:49,920 --> 00:16:53,880 Speaker 1: Russia's It's been very difficult to believe what Russia's said 302 00:16:54,280 --> 00:16:56,520 Speaker 1: up to this point, even before the invasion, when they 303 00:16:56,520 --> 00:16:59,160 Speaker 1: said that they weren't going to evade, and and here 304 00:16:59,160 --> 00:17:03,720 Speaker 1: we are, Uh, that's absolutely right. The Russian defense deputy 305 00:17:03,720 --> 00:17:05,800 Speaker 1: Defense minister who made the announcement, he said this was 306 00:17:05,840 --> 00:17:09,200 Speaker 1: about building trust. Um. That's going to be very hard 307 00:17:09,240 --> 00:17:13,160 Speaker 1: to do, and it will have to be uh trust 308 00:17:13,240 --> 00:17:16,040 Speaker 1: but verify as round the Reagan used to say, um. 309 00:17:16,119 --> 00:17:20,560 Speaker 1: And that is not clear yet. And unfortunately, because the 310 00:17:20,640 --> 00:17:24,000 Speaker 1: Russians at the same time said that they have new 311 00:17:24,240 --> 00:17:26,800 Speaker 1: goals in terms of just where they're going to focus 312 00:17:26,800 --> 00:17:30,240 Speaker 1: their effort. Um, there's there's a lot of skeptical skepticism 313 00:17:30,280 --> 00:17:32,679 Speaker 1: and rightly so. Do we have a sense of from 314 00:17:32,720 --> 00:17:36,080 Speaker 1: the Ukrainian side, what it would take for them to 315 00:17:36,200 --> 00:17:38,320 Speaker 1: trust Russia, what they would need to see on the 316 00:17:38,400 --> 00:17:42,399 Speaker 1: Russian side, Well, essentially they need to see a cease fire. 317 00:17:42,520 --> 00:17:46,359 Speaker 1: They need to see an agreement that Russian troops will leave, 318 00:17:47,520 --> 00:17:51,480 Speaker 1: basically going back to the position where we were before 319 00:17:51,480 --> 00:17:55,320 Speaker 1: the war started on February three. Um, and uh, you 320 00:17:55,359 --> 00:17:58,439 Speaker 1: know that there's no sign that the Russians are willing 321 00:17:58,480 --> 00:18:03,720 Speaker 1: to do that. They goals their stated goals and are 322 00:18:03,840 --> 00:18:07,720 Speaker 1: considerably larger. Um. And if they were to agree to 323 00:18:07,800 --> 00:18:10,960 Speaker 1: do so, it would be essentially it would amount to 324 00:18:11,000 --> 00:18:14,360 Speaker 1: a defeat, which President m put in Is is highly 325 00:18:14,440 --> 00:18:17,720 Speaker 1: unlikely to acknowledge. So um, there is still a pretty 326 00:18:17,760 --> 00:18:22,920 Speaker 1: big divide to to cross. Um, these things get sequenced. 327 00:18:23,000 --> 00:18:25,240 Speaker 1: So what the Ukraine's are trying to do is to 328 00:18:25,280 --> 00:18:29,360 Speaker 1: build some kind of ceasefire humanitarian corridors now and then 329 00:18:29,720 --> 00:18:32,480 Speaker 1: try and leave the really difficult issues for a bit later. 330 00:18:32,560 --> 00:18:35,359 Speaker 1: But it's it's very hard to organize that because some 331 00:18:35,800 --> 00:18:38,160 Speaker 1: each side has to give up some of the leverage 332 00:18:38,200 --> 00:18:41,800 Speaker 1: that they have, uh you know, in order to to 333 00:18:41,920 --> 00:18:44,920 Speaker 1: to do one thing without doing the other. So um, 334 00:18:44,960 --> 00:18:48,480 Speaker 1: that's what we saw yesterday in istan Bull where initially 335 00:18:48,480 --> 00:18:50,520 Speaker 1: there had been hoped there might be a limited cease 336 00:18:50,560 --> 00:18:53,120 Speaker 1: fire and it was was not realized. Only have about 337 00:18:53,160 --> 00:18:55,080 Speaker 1: thirty seconds left here mark where we heard from the 338 00:18:55,200 --> 00:18:57,520 Speaker 1: u N this morning that now more than four million 339 00:18:57,600 --> 00:19:01,399 Speaker 1: refugees have fled Ukraine is Europe able to handle that 340 00:19:01,480 --> 00:19:04,800 Speaker 1: kind of flow. Well, you know we know from the 341 00:19:04,840 --> 00:19:08,520 Speaker 1: pot and it's it's extremely politically difficult. Um and at 342 00:19:08,520 --> 00:19:11,679 Speaker 1: the moment economically Europe is you know, in a difficult place. 343 00:19:12,359 --> 00:19:15,399 Speaker 1: But yes, this is a block of some five hundred 344 00:19:15,400 --> 00:19:18,720 Speaker 1: million people. Um, they can absorb it. It's just going 345 00:19:18,760 --> 00:19:21,760 Speaker 1: to be hot. Thanks for this, as always, Mark Champion 346 00:19:22,160 --> 00:19:24,879 Speaker 1: with us this morning. Mark Champion is senior reporter for 347 00:19:24,920 --> 00:19:29,120 Speaker 1: International Affairs for Bloomberg News. Checking the markets this morning 348 00:19:29,160 --> 00:19:31,879 Speaker 1: ahead of the Wednesday morning open, futures are pulling back, 349 00:19:31,920 --> 00:19:35,160 Speaker 1: with SMP futures now down eleven points, STOW futures down 350 00:19:35,200 --> 00:19:38,280 Speaker 1: seventy two, NASTAD future is down fifty nine points. The 351 00:19:38,320 --> 00:19:40,920 Speaker 1: tenure treasury is down to thirty seconds, the yield two 352 00:19:40,960 --> 00:19:43,639 Speaker 1: point four zero percent. Yield on the two year right 353 00:19:43,680 --> 00:19:46,760 Speaker 1: now two point three one percent. After the brief inversion 354 00:19:46,840 --> 00:19:49,960 Speaker 1: for the two's tens curve yesterday, nime x screwed up 355 00:19:50,000 --> 00:19:51,960 Speaker 1: two and a half percent, or two dollars fifty seven 356 00:19:51,960 --> 00:19:54,399 Speaker 1: cents at a hundred six dollars eighty one cents. The 357 00:19:54,440 --> 00:19:57,800 Speaker 1: barrel just ahead. More on the trust, but verify stance 358 00:19:58,200 --> 00:20:00,880 Speaker 1: when it comes to Russia and seven and the hour 359 00:20:01,080 --> 00:20:03,440 Speaker 1: as seven and a half hour gap in White House 360 00:20:03,440 --> 00:20:08,840 Speaker 1: phone logs. This is Bloomberg Bloomberg eleven three oh weather 361 00:20:08,880 --> 00:20:12,000 Speaker 1: cloudy today, showers possible this afternoon, upper forties for highs. 362 00:20:12,040 --> 00:20:15,200 Speaker 1: We'll get near seventy tomorrow with more afternoon showers possible. 363 00:20:15,320 --> 00:20:18,320 Speaker 1: It'll be partly sunny, breezy, and upper fifties by Friday. 364 00:20:18,400 --> 00:20:25,119 Speaker 1: Right now thirty degrees broadcasting live from the Bloomberg Interactive 365 00:20:25,200 --> 00:20:29,040 Speaker 1: Broker Studio in New York. Bloomberg E Living freo to Washington, 366 00:20:29,119 --> 00:20:33,240 Speaker 1: d C, Bloomberg to Boston, Bloomberg one O six one 367 00:20:33,359 --> 00:20:36,800 Speaker 1: to San Francisco, Bloomberg nun sixteen to the Country, Sirius 368 00:20:36,960 --> 00:20:40,119 Speaker 1: XM to one nineteen and around the globe the Bloomberg 369 00:20:40,160 --> 00:20:45,640 Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak. 370 00:20:50,480 --> 00:20:52,680 Speaker 1: It's five thirty on Wall Street. Good morning. I'm Nathan 371 00:20:52,720 --> 00:20:55,720 Speaker 1: Hagar and I'm Teren Moscow, where just about four hours 372 00:20:55,760 --> 00:20:57,840 Speaker 1: away from the open of US trading. Let's get you 373 00:20:57,840 --> 00:20:59,119 Speaker 1: have to date of the news you need to know 374 00:20:59,200 --> 00:21:02,119 Speaker 1: at this hour. Russia is promising to cut back military 375 00:21:02,160 --> 00:21:06,480 Speaker 1: operations near two key cities in Ukraine, including the capital Kiev. 376 00:21:06,840 --> 00:21:10,000 Speaker 1: The pledge comes after the latest round of negotiations, but 377 00:21:10,040 --> 00:21:12,800 Speaker 1: the US and NATO have their doubts. We're still seeing 378 00:21:12,880 --> 00:21:15,280 Speaker 1: fighting to the north and west of Kiev. And here's 379 00:21:15,280 --> 00:21:18,520 Speaker 1: Pentagon's spokesman John Kirby. We're not prepared to call us 380 00:21:18,560 --> 00:21:21,159 Speaker 1: a retreat or even a withdrawal. We think that that 381 00:21:21,280 --> 00:21:23,399 Speaker 1: what they probably have in mind is a repositioning to 382 00:21:23,440 --> 00:21:27,040 Speaker 1: prioritize elsewhere. John Kirby at the Pentagon says air strikes 383 00:21:27,080 --> 00:21:31,640 Speaker 1: on Kiev are still happening, so the threat hasn't radically diminished. Meantime, 384 00:21:31,640 --> 00:21:35,600 Speaker 1: in Ukraine, Karen President Vladimir Zelinski also has his doubts. 385 00:21:36,960 --> 00:21:39,040 Speaker 1: We are seeing all of the risks. Of course, we 386 00:21:39,080 --> 00:21:41,400 Speaker 1: are not seeing grounds to trust the words coming from 387 00:21:41,440 --> 00:21:44,520 Speaker 1: representatives of the country that continues fighting to destroy US. 388 00:21:44,640 --> 00:21:47,240 Speaker 1: President Zelinski says there are grounds not to trust Russia, 389 00:21:47,280 --> 00:21:50,080 Speaker 1: and the regional governor says the city of Chernihiv was 390 00:21:50,119 --> 00:21:53,800 Speaker 1: shelled all night despite Russia's promises. The u N says 391 00:21:53,840 --> 00:21:56,560 Speaker 1: more than four million refugees have now fled Ukraine. That's 392 00:21:56,600 --> 00:21:59,760 Speaker 1: nearly ten percent of the population. Well, nakan Becky, where 393 00:21:59,760 --> 00:22:02,159 Speaker 1: the U West we have new revelations tied to the 394 00:22:02,240 --> 00:22:04,640 Speaker 1: January a six attack on the Capitol, and the House 395 00:22:04,640 --> 00:22:08,800 Speaker 1: committee investigating the insurrection has questions about former President Trump's 396 00:22:08,840 --> 00:22:12,159 Speaker 1: calls that day. They've uncovered a seven hour gap in 397 00:22:12,200 --> 00:22:15,280 Speaker 1: the president's phone logs. The gap covers a period when 398 00:22:15,400 --> 00:22:18,000 Speaker 1: lawmakers were trying to get him to stop the mob. 399 00:22:18,280 --> 00:22:20,800 Speaker 1: Cryptos in focus this morning as well, caring after what's 400 00:22:20,800 --> 00:22:23,800 Speaker 1: being called one of the biggest cryptocurrency attacks ever and 401 00:22:23,800 --> 00:22:26,280 Speaker 1: it wasn't discovered for almost a week. Let's get the 402 00:22:26,280 --> 00:22:28,440 Speaker 1: details live from Bloomberg's or need a young good morning, 403 00:22:28,480 --> 00:22:31,919 Speaker 1: greda Good morning, Nathan. Hackers stole about six hundred million 404 00:22:32,000 --> 00:22:35,240 Speaker 1: dollars from a blockchain network connected to the popular Axie 405 00:22:35,280 --> 00:22:38,760 Speaker 1: Infinity online game. They drained what's known as the Ronan 406 00:22:38,840 --> 00:22:42,200 Speaker 1: Bridge of close to one seventy four thousand ether in 407 00:22:42,280 --> 00:22:46,200 Speaker 1: almost thirty million US DC tokens. The so called bridge 408 00:22:46,280 --> 00:22:48,880 Speaker 1: lets people convert tokens into one that can be used 409 00:22:48,880 --> 00:22:52,680 Speaker 1: on another network. The blockchain that supports exi Infinity says 410 00:22:52,720 --> 00:22:55,760 Speaker 1: the breach happened on March twenty three, but was just 411 00:22:56,000 --> 00:22:59,439 Speaker 1: discovered yesterday Live in New York. I'm renned a young 412 00:22:59,440 --> 00:23:02,080 Speaker 1: Bloombergday right, ready to thank you and turning to the 413 00:23:02,080 --> 00:23:05,520 Speaker 1: stock market. Now, futures are lower after four straight days 414 00:23:05,560 --> 00:23:08,840 Speaker 1: of gains. Oil is rising as optimism about a d 415 00:23:09,080 --> 00:23:11,880 Speaker 1: escalation in the war in Ukraine phades and checking crewed 416 00:23:12,040 --> 00:23:14,359 Speaker 1: right now, non ex screwed oil is up two and 417 00:23:14,359 --> 00:23:16,679 Speaker 1: a quarter percent, up two dollars thirty four cents at 418 00:23:16,680 --> 00:23:19,520 Speaker 1: a hundred six dollars fifty five cents of barrel. Brent 419 00:23:19,680 --> 00:23:22,040 Speaker 1: is up to percent. It's at a hundred twelve dollars 420 00:23:22,160 --> 00:23:25,439 Speaker 1: forty five cents. And again, SMP futures are down thirteen 421 00:23:25,480 --> 00:23:29,280 Speaker 1: points down, futures down eighty NASDACK futures down sixty five. 422 00:23:29,560 --> 00:23:32,520 Speaker 1: Straight ahead your latest local headlines plus a check of sports, 423 00:23:32,560 --> 00:23:39,600 Speaker 1: and this is Bloomberg. Thanks Caring. It's five thirty three 424 00:23:39,600 --> 00:23:42,160 Speaker 1: on Wall Street, thirty degrees in Central Park and there's 425 00:23:42,160 --> 00:23:44,719 Speaker 1: an accident on the upper level of Arizono Bridge. Tails 426 00:23:44,720 --> 00:23:47,159 Speaker 1: coming up in traffic. First Michael Barr with more on 427 00:23:47,280 --> 00:23:49,439 Speaker 1: what's going on in New York and around the world. Michael, 428 00:23:49,480 --> 00:23:52,199 Speaker 1: thank you very much. Nathan. Three police officers are wounded 429 00:23:52,200 --> 00:23:55,440 Speaker 1: in Buffalo after someone fled a traffic stop and let 430 00:23:55,520 --> 00:23:58,760 Speaker 1: officers on a long chase through the city and shot 431 00:23:58,800 --> 00:24:02,520 Speaker 1: at them. Buffalo Police Commissioner Joseph Bramaglia one of the 432 00:24:02,560 --> 00:24:06,120 Speaker 1: police vehicles being shot at. An officer was struck. Um 433 00:24:06,240 --> 00:24:10,479 Speaker 1: was hit through the police vehicle windshield was struck multiple times. 434 00:24:10,960 --> 00:24:14,840 Speaker 1: Um pursued continued on with the suspect vehicle continuing to shoot. 435 00:24:15,080 --> 00:24:18,920 Speaker 1: Buffalo Mayor Byron Brown says two suspects are in custody. 436 00:24:18,960 --> 00:24:25,000 Speaker 1: This was a very brazen situation with a suspect shooting 437 00:24:25,840 --> 00:24:30,560 Speaker 1: from a vehicle at police officers. Mayor Brown says the 438 00:24:30,600 --> 00:24:33,199 Speaker 1: wild chase ended at an intersection in front of a 439 00:24:33,240 --> 00:24:36,879 Speaker 1: police station, where officers shot and wounded the driver. The 440 00:24:36,920 --> 00:24:40,159 Speaker 1: White House says it will not block former President Donald 441 00:24:40,160 --> 00:24:43,800 Speaker 1: Trump's daughter and son in law, Ivanka Trump and Jared Kushner, 442 00:24:44,080 --> 00:24:48,720 Speaker 1: from testifying to the House committee investigating the January sixth insurrection. 443 00:24:49,200 --> 00:24:53,760 Speaker 1: White House spokesperson Kate Bddenfield says the constitutional protections of 444 00:24:53,800 --> 00:24:57,600 Speaker 1: executive privilege should not be used a shield from Congress 445 00:24:57,760 --> 00:25:00,520 Speaker 1: or the public information about an attem act on the 446 00:25:00,560 --> 00:25:05,440 Speaker 1: Constitution itself. Kushnier will reportedly appear voluntarily before the committee 447 00:25:05,440 --> 00:25:08,719 Speaker 1: this week. ABC is also reporting Ivanka Trump is in 448 00:25:08,760 --> 00:25:12,960 Speaker 1: talks with the panel over delivering testimony. President Biden signed 449 00:25:13,000 --> 00:25:16,600 Speaker 1: into law the Emmett Till Anti Lynching Act, which makes 450 00:25:16,760 --> 00:25:20,040 Speaker 1: lynching a federal hate crime. During remarks at the bill 451 00:25:20,160 --> 00:25:23,600 Speaker 1: signing ceremony at the White House Rose Garden, the President said, Hey, 452 00:25:23,640 --> 00:25:26,720 Speaker 1: it never goes away. It just hides Gracia. He isn't 453 00:25:26,720 --> 00:25:30,520 Speaker 1: an old problem, It's a persistent problem. Till, who was 454 00:25:30,560 --> 00:25:33,679 Speaker 1: fourteen years old from Chicago, was lynched while on a 455 00:25:33,720 --> 00:25:38,320 Speaker 1: trip to Mississippi in nineteen. Global News twenty four hours 456 00:25:38,320 --> 00:25:41,640 Speaker 1: a day on air and on Bloomberg Quittake, powered by 457 00:25:41,680 --> 00:25:44,880 Speaker 1: more than twenty seven hundred journalists and analysts in more 458 00:25:44,880 --> 00:25:49,879 Speaker 1: than one hundred twenty countries. Michael Barr and this is Bloomberg. Nathan. Okay, Michael, 459 00:25:49,920 --> 00:25:57,720 Speaker 1: thank you. On Wall Street. Time for the Bloomberg Sports update. 460 00:25:57,760 --> 00:26:00,840 Speaker 1: Here's John Stash fact, Nathan. Only three Angers have scored 461 00:26:00,880 --> 00:26:03,840 Speaker 1: fifty goals in the season. Vic Hatfield nineteen seventy two, 462 00:26:03,840 --> 00:26:06,600 Speaker 1: Adam Grays and the Stanley kept winning four season, and 463 00:26:06,720 --> 00:26:09,200 Speaker 1: Yarmor Yager two thousand six. He's got the club record 464 00:26:09,200 --> 00:26:11,640 Speaker 1: of fifty four. Chris Crider scored last night. He's got 465 00:26:11,680 --> 00:26:15,160 Speaker 1: forty five goals. There are still fifteen games left. Big 466 00:26:15,160 --> 00:26:17,199 Speaker 1: win for the Blue Shirts three two in Pittsburgh. They 467 00:26:17,200 --> 00:26:19,879 Speaker 1: moved ahead of the Penguins into second place in the division. 468 00:26:19,880 --> 00:26:22,359 Speaker 1: The Islanders won four three at Columbus the next first 469 00:26:22,359 --> 00:26:24,480 Speaker 1: home win that included Kyrie Irving, and they came from 470 00:26:24,480 --> 00:26:28,719 Speaker 1: behind Pete Detroit one thirty Cabina and scored forty one. 471 00:26:29,320 --> 00:26:32,720 Speaker 1: The record is good, but I still got pros over there, 472 00:26:32,960 --> 00:26:34,800 Speaker 1: and tonight they may shots. You know. They started off 473 00:26:34,840 --> 00:26:37,359 Speaker 1: the game again six threes in the first quarters. They 474 00:26:37,400 --> 00:26:39,679 Speaker 1: give you a lot of confidence as a team, you know, 475 00:26:39,800 --> 00:26:41,720 Speaker 1: So we had to, uh, it's good first to go 476 00:26:41,800 --> 00:26:43,800 Speaker 1: through periods like that because it's gonna be times when 477 00:26:43,800 --> 00:26:46,960 Speaker 1: the playoffs with teams get hot unexpectedly and see how 478 00:26:46,960 --> 00:26:48,720 Speaker 1: the weather storm like the Nets will be in the 479 00:26:48,760 --> 00:26:50,760 Speaker 1: play in for the right to be in the playoffs. 480 00:26:50,800 --> 00:26:52,880 Speaker 1: Next tonight host Charlotte next going for a fifth grade 481 00:26:52,920 --> 00:26:55,000 Speaker 1: win at the Garden. At i T semifinal wins for 482 00:26:55,119 --> 00:26:57,480 Speaker 1: Texas A and M and Xavier, who fired its coach 483 00:26:57,880 --> 00:27:00,000 Speaker 1: during the n i T two teams will play tomorrow 484 00:27:00,040 --> 00:27:03,080 Speaker 1: the championship. The NFL and an effort to downplay the 485 00:27:03,119 --> 00:27:06,200 Speaker 1: importance of winning the coin flip that starts overtime, changing 486 00:27:06,200 --> 00:27:08,679 Speaker 1: its overtime rules at least to the playoffs, no longer 487 00:27:09,000 --> 00:27:11,000 Speaker 1: will have touchdown win you the game. Both teams will 488 00:27:11,040 --> 00:27:13,520 Speaker 1: now be a stirt of a possession. Safety of real 489 00:27:13,600 --> 00:27:16,360 Speaker 1: Peppers leaving the Giants he signed with the Patriots. He's 490 00:27:16,359 --> 00:27:18,879 Speaker 1: coming off of torn a c l Will Tiger Woods 491 00:27:18,880 --> 00:27:22,280 Speaker 1: play the upcoming Masters? Fourteen months after the car accident, 492 00:27:22,320 --> 00:27:25,240 Speaker 1: Tiger has played in eighteen whole practice round at Augusta 493 00:27:25,359 --> 00:27:31,320 Speaker 1: National with Justin Thomas and Tiger's son John Stashar Bloomberg Sports. Okay, John, 494 00:27:31,359 --> 00:27:33,760 Speaker 1: thank you, you're coming up to seven on Wall Street 495 00:27:34,000 --> 00:27:37,520 Speaker 1: time for the Tri State Business Report. Here's Bloomberg's ed Corey. 496 00:27:37,680 --> 00:27:40,679 Speaker 1: A new lease at Lower Manhattan's one World Trade Center 497 00:27:40,720 --> 00:27:46,720 Speaker 1: bumped ocupancy up to existing tenant. German data processing firm 498 00:27:46,800 --> 00:27:50,560 Speaker 1: Salonas expanded its space at the tower, taking the entire 499 00:27:50,640 --> 00:27:54,520 Speaker 1: seventy floor. According to Landlord's Durst Organization and the Port 500 00:27:54,560 --> 00:27:58,040 Speaker 1: Authority of New York and New Jersey. Subnby's is accused 501 00:27:58,040 --> 00:28:00,800 Speaker 1: of resisting the New York Attorney General Earl's efforts to 502 00:28:00,800 --> 00:28:04,000 Speaker 1: see sales records for some of the auction houses biggest 503 00:28:04,080 --> 00:28:09,040 Speaker 1: clients claimed stems from a lawsuit New York Attorney General 504 00:28:09,119 --> 00:28:13,959 Speaker 1: Natitia James accused Southbes of helping a wealthy shipping executive 505 00:28:14,000 --> 00:28:17,560 Speaker 1: avoid paying taxes on artwork you purchased. New York State 506 00:28:17,720 --> 00:28:20,200 Speaker 1: residents could be getting a two hundred fifty dollar check 507 00:28:20,240 --> 00:28:22,720 Speaker 1: to help pay for increasing prices at the gas pump. 508 00:28:22,960 --> 00:28:26,119 Speaker 1: Senator Elijah Rinklin has proposed giving the money the current 509 00:28:26,119 --> 00:28:29,160 Speaker 1: state residents who have registered a vehicle to New York 510 00:28:29,200 --> 00:28:32,040 Speaker 1: State over the past two years. That's your Bloomberg Trying 511 00:28:32,000 --> 00:28:35,320 Speaker 1: State Business Report. I'm Ed Corey. Thanks. Just about five 512 00:28:35,400 --> 00:28:37,639 Speaker 1: thirty eight on Wall Street. Bloomberg Radio is on the 513 00:28:37,640 --> 00:28:40,520 Speaker 1: air from San Francisco to New York, London to Hong Kong. 514 00:28:40,800 --> 00:28:42,720 Speaker 1: Let's check in with our global news team for some 515 00:28:42,800 --> 00:28:45,080 Speaker 1: of the top stories heard on our three hundred affiliate 516 00:28:45,160 --> 00:28:51,160 Speaker 1: radio stations around the world. I'm Steve's potas got on 517 00:28:51,280 --> 00:28:54,320 Speaker 1: Chim ten Wins in New York. We're talking about surging 518 00:28:54,480 --> 00:28:58,800 Speaker 1: prices for the incredible edible egg. I'm Joan Donager telling 519 00:28:58,800 --> 00:29:03,040 Speaker 1: Hey why w listeners Philadelphia about Philly Fed President Patrick 520 00:29:03,120 --> 00:29:07,560 Speaker 1: Harker's golf advice. H'm Gina Servetti and for w BBM 521 00:29:07,600 --> 00:29:10,600 Speaker 1: in Chicago. I'm reporting that Boeing is basing a lawsuit 522 00:29:10,680 --> 00:29:14,000 Speaker 1: accusing it of misleading a subcontractor to win a contract 523 00:29:14,080 --> 00:29:17,360 Speaker 1: for customized plane interiors. I'm caline Head called bloom l 524 00:29:17,440 --> 00:29:19,480 Speaker 1: d a B Digital radio in Lundon. We were putting 525 00:29:19,520 --> 00:29:22,240 Speaker 1: on a major power failure in East London, which means 526 00:29:22,240 --> 00:29:25,400 Speaker 1: city greet workers are staying home. I'm ed Corey on 527 00:29:25,640 --> 00:29:28,959 Speaker 1: ww J and Detroit, and I'm re bording General Motors 528 00:29:29,040 --> 00:29:32,400 Speaker 1: is beating up Hummer EV production after getting more than 529 00:29:32,560 --> 00:29:36,160 Speaker 1: sixty five pounder preservations. Those are some of the stories 530 00:29:36,160 --> 00:29:39,680 Speaker 1: our hundred Bloomberg journalists and analysts are working on this morning. 531 00:29:39,720 --> 00:29:42,200 Speaker 1: Around the world. It's five thirty nine on Wall Street. 532 00:29:42,600 --> 00:29:46,920 Speaker 1: The following is an editorial from Bloomberg Opinion. This editorial 533 00:29:47,120 --> 00:29:51,400 Speaker 1: was written by the Bloomberg Editorial Board. The International Criminal 534 00:29:51,480 --> 00:29:56,320 Speaker 1: Court is investigating potential war crimes committed during Russia's invasion 535 00:29:56,440 --> 00:29:59,560 Speaker 1: of Ukraine. But even if the court amasses proof of 536 00:29:59,600 --> 00:30:03,200 Speaker 1: a tro to, these high ranking Russian officials won't face 537 00:30:03,280 --> 00:30:08,600 Speaker 1: prosecution anytime soon. That's because Russia, like the US, does 538 00:30:08,640 --> 00:30:12,920 Speaker 1: not accept the court's jurisdiction over its citizens. Even so, 539 00:30:13,120 --> 00:30:17,520 Speaker 1: an impartial war crimes inquiry has value. Collecting evidence that 540 00:30:17,600 --> 00:30:22,760 Speaker 1: Russia knowingly targeted civilians would counter President Vladimir Putin's attempts 541 00:30:22,800 --> 00:30:26,280 Speaker 1: to cast the war as a legitimate military operation. It 542 00:30:26,320 --> 00:30:29,640 Speaker 1: would make midd level officials think twice about carrying out 543 00:30:29,720 --> 00:30:33,440 Speaker 1: criminal orders, and it would demonstrate the world's commitment to 544 00:30:33,640 --> 00:30:38,400 Speaker 1: defending human rights and the rule of law. Russia's aggression 545 00:30:38,400 --> 00:30:43,080 Speaker 1: in Ukraine has shocked the international community. Imposing accountability for 546 00:30:43,160 --> 00:30:47,240 Speaker 1: such appalling acts is the first step toward ensuring they 547 00:30:47,280 --> 00:30:51,280 Speaker 1: are not repeated. This editorial was written by the Bloomberg 548 00:30:51,400 --> 00:30:54,760 Speaker 1: Editorial Board. For more Bloomberg opinion, please go to Bloomberg 549 00:30:54,800 --> 00:30:57,960 Speaker 1: dot com, slash opinion or ope I n go on 550 00:30:58,080 --> 00:31:01,760 Speaker 1: the Bloomberg Terminal. These has been Bloomberg opinion and you 551 00:31:01,800 --> 00:31:05,080 Speaker 1: can hear Bloomberg opinion editorials every weekday. At this time, 552 00:31:05,200 --> 00:31:07,560 Speaker 1: terminal customers can always read more at O P I 553 00:31:07,720 --> 00:31:11,400 Speaker 1: n GO. SMP futures are down thirteen point, Staff futures 554 00:31:11,400 --> 00:31:14,360 Speaker 1: down ninety Nasdaq futures lower by sixty two points. The 555 00:31:14,360 --> 00:31:18,520 Speaker 1: tenure treasury yield two point three nine percent. This is 556 00:31:18,600 --> 00:31:25,200 Speaker 1: Bloomberg Bloomberg eleventh, three oh weather clouds. Today's showers possible 557 00:31:25,200 --> 00:31:27,959 Speaker 1: this afternoon with a high near fifty. More afternoon showers 558 00:31:27,960 --> 00:31:30,920 Speaker 1: in a high close to seventy. Tomorrow will turn partly sunny, 559 00:31:30,960 --> 00:31:37,640 Speaker 1: breezy and cooler. Friday highs near sixty right now thirty markets, 560 00:31:37,760 --> 00:31:40,840 Speaker 1: headlines and breaking news twenty four hours a day at 561 00:31:40,840 --> 00:31:44,760 Speaker 1: Bloomberg dot Com, The Bloomberg Business and at Bloomberg Quicktake, 562 00:31:45,040 --> 00:31:54,120 Speaker 1: this is a Bloomberg business lash, and I'm teren Moscow 563 00:31:54,240 --> 00:31:58,120 Speaker 1: stocks are falling, energy prices rising as skepticism about Russia's 564 00:31:58,160 --> 00:32:00,640 Speaker 1: promised or de escalate the war, and you praying renews 565 00:32:00,680 --> 00:32:04,840 Speaker 1: concerns about higher raw material prices and commodity disruption. US 566 00:32:04,920 --> 00:32:08,120 Speaker 1: Dot index futures are slipping, and we checked the markets 567 00:32:08,120 --> 00:32:10,920 Speaker 1: every fifteen minutes throughout the trading day on Bloomberg s 568 00:32:10,960 --> 00:32:14,240 Speaker 1: and P futures down twelve points down, futures down seventy eight, 569 00:32:14,600 --> 00:32:17,920 Speaker 1: NASDAC futures down fifty eight. The decks in Germany's down 570 00:32:17,920 --> 00:32:20,480 Speaker 1: one point to percent. The ten year treasury at little 571 00:32:20,560 --> 00:32:23,240 Speaker 1: change yield two point three nine percent yield on the 572 00:32:23,320 --> 00:32:26,360 Speaker 1: two year two point three one percent, nine back Scrude 573 00:32:26,400 --> 00:32:29,040 Speaker 1: oil is up two percent or two dollars thirteen cents 574 00:32:29,080 --> 00:32:31,240 Speaker 1: at a hundred six dollars thirty eight cents of barrel. 575 00:32:31,480 --> 00:32:33,920 Speaker 1: Comic School that three tens per cent or six dollars 576 00:32:33,920 --> 00:32:37,960 Speaker 1: in ninety nine announced the euro one point one eight 577 00:32:37,960 --> 00:32:40,920 Speaker 1: against the dollar, British bound one point three one four seven. 578 00:32:41,240 --> 00:32:44,160 Speaker 1: The end is at one point eight seven, and Bitcoin 579 00:32:44,280 --> 00:32:47,560 Speaker 1: this morning down about half percent at forty seven thousand, 580 00:32:47,560 --> 00:32:50,920 Speaker 1: two hundred seventy dollars as a Bloomberg business flash. Now 581 00:32:50,920 --> 00:32:53,520 Speaker 1: here's Michael Barr with more unless going on around the world. 582 00:32:53,640 --> 00:32:56,920 Speaker 1: Muchael Karen, thank you very much. As you mentioned, despite 583 00:32:56,920 --> 00:33:00,000 Speaker 1: a pledge from Russia the scale backs of military operation 584 00:33:00,200 --> 00:33:04,200 Speaker 1: in Ukraine, the war rages on just outside of Kiev. Meanwhile, 585 00:33:04,280 --> 00:33:07,480 Speaker 1: negotiators from Ukraine and Russia are a schedule to meet 586 00:33:07,480 --> 00:33:10,600 Speaker 1: again today which could possibly lead to a framework for 587 00:33:10,760 --> 00:33:13,880 Speaker 1: ending the thirty five day war. The southern US is 588 00:33:13,920 --> 00:33:18,280 Speaker 1: facing another powerful storm system expected to impact areas still 589 00:33:18,320 --> 00:33:23,120 Speaker 1: recovering from destructive weather last week. Forecasters stay involves damaging 590 00:33:23,160 --> 00:33:25,720 Speaker 1: winds for hundreds of miles as it moves from west 591 00:33:25,800 --> 00:33:29,560 Speaker 1: to east, and then the potential for destructive tornadoes in 592 00:33:29,600 --> 00:33:33,360 Speaker 1: the NBA, the Nets one, the Wizards lost in the NHL, 593 00:33:33,400 --> 00:33:36,960 Speaker 1: the Rangers and Islanders won, the Bruins lost. Global News 594 00:33:37,000 --> 00:33:39,680 Speaker 1: twenty four hours a day on air and on Bloomberg 595 00:33:39,760 --> 00:33:42,800 Speaker 1: Quick Tank, powered by more than twenty seven hundred journalists 596 00:33:42,800 --> 00:33:45,880 Speaker 1: and analysts more than a hundred twenty countries. Michael Barr, 597 00:33:45,960 --> 00:33:48,480 Speaker 1: this is Bloomberg. Nathan. Okay, Michael, thank you. It's just 598 00:33:48,560 --> 00:33:50,680 Speaker 1: about five forty nine on Wall Street Life from the 599 00:33:50,680 --> 00:33:55,280 Speaker 1: Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak. Let's continue 600 00:33:55,280 --> 00:33:58,000 Speaker 1: our coverage of the war in Ukraine now from well 601 00:33:58,040 --> 00:34:01,880 Speaker 1: Washington perspective. For that, we're joined live from our Bloomberg 602 00:34:02,640 --> 00:34:07,000 Speaker 1: studios in the nation's capital by Bloomberg Government reporter Emily Wilkins. Emily, 603 00:34:07,080 --> 00:34:09,640 Speaker 1: good morning. Of course, we heard in the report from 604 00:34:09,800 --> 00:34:12,960 Speaker 1: Michael Barr there that despite Russia's claims that it's going 605 00:34:13,000 --> 00:34:16,160 Speaker 1: to pull back from two key cities, that fighting continues. 606 00:34:16,440 --> 00:34:21,279 Speaker 1: So how is the US responding to Russia's claims? Well, 607 00:34:21,280 --> 00:34:24,360 Speaker 1: the mood in Washington it's really wait and see right now, Nathan, 608 00:34:24,480 --> 00:34:27,360 Speaker 1: I mean, President Joe Biden said yesterday that he doesn't 609 00:34:27,360 --> 00:34:31,760 Speaker 1: read anything into Russia, saying that it's going to de escalate. 610 00:34:32,120 --> 00:34:34,480 Speaker 1: After a call with European leaders, Biden said there was 611 00:34:34,560 --> 00:34:37,640 Speaker 1: consensus all of among them to serve weight and see 612 00:34:37,960 --> 00:34:40,680 Speaker 1: what Russia winds up doing at this point. I mean, 613 00:34:40,719 --> 00:34:42,959 Speaker 1: we're talking about de escalation, and we're not talking about 614 00:34:42,960 --> 00:34:46,399 Speaker 1: a ceasefire. We're not talking about a complete withdrawal. We're 615 00:34:46,440 --> 00:34:51,160 Speaker 1: talking about potentially a less attacks and attacking around the 616 00:34:51,160 --> 00:34:54,319 Speaker 1: capital city of Keith. But some experts say that that 617 00:34:54,360 --> 00:34:57,600 Speaker 1: could just mean that Russia's regrouping and that they're trying 618 00:34:57,640 --> 00:35:00,400 Speaker 1: to really focus their efforts in the don Bust region. 619 00:35:00,840 --> 00:35:03,799 Speaker 1: I mean, we heard very strong rhetoric yesterday from the 620 00:35:03,800 --> 00:35:07,759 Speaker 1: Pentagon spokesman John Kirby told reporters that nobody should be 621 00:35:07,800 --> 00:35:10,960 Speaker 1: fooling themselves by the Kremlins came. They will claim they 622 00:35:10,960 --> 00:35:14,640 Speaker 1: will reduce attacks. He said it was a repositioning, not 623 00:35:14,760 --> 00:35:18,520 Speaker 1: a will withdraw and the spokesman Kirby also said that 624 00:35:18,560 --> 00:35:21,879 Speaker 1: the threat to keep has not been radically diminished, so 625 00:35:22,160 --> 00:35:25,200 Speaker 1: lots of concern still here in Washington. Obviously, will be 626 00:35:25,280 --> 00:35:28,520 Speaker 1: keeping a close eye on the continued talks today and 627 00:35:28,520 --> 00:35:30,959 Speaker 1: and just an eye on the Russian military to see 628 00:35:31,000 --> 00:35:34,319 Speaker 1: where things are standing. At this point. But as you noted, yes, 629 00:35:34,560 --> 00:35:38,040 Speaker 1: the sholling has continued, the attacks have continued. Uh, it's 630 00:35:38,080 --> 00:35:41,799 Speaker 1: it's definitely the war is still very much continuing. Yeah, 631 00:35:41,880 --> 00:35:45,200 Speaker 1: that's certainly what we're hearing from Ukrainian officials for sure. 632 00:35:45,360 --> 00:35:48,040 Speaker 1: And while there there's is this talk of de escalation 633 00:35:48,320 --> 00:35:52,640 Speaker 1: from Russia, we're hearing talk of escalation from the US 634 00:35:53,120 --> 00:35:55,880 Speaker 1: when it comes to aid to Ukraine. What is this 635 00:35:55,880 --> 00:35:59,840 Speaker 1: about a half billion dollars that the Biden administrations thinking 636 00:35:59,840 --> 00:36:02,640 Speaker 1: of adding on to what it's given to Ukraine. Yes, 637 00:36:02,760 --> 00:36:05,800 Speaker 1: that is something that the Biden administration is considering. And 638 00:36:05,880 --> 00:36:08,719 Speaker 1: now normally a request like that for funding does need 639 00:36:08,760 --> 00:36:11,440 Speaker 1: to originate in Congress, So we keep keeping a close 640 00:36:11,440 --> 00:36:14,400 Speaker 1: eye to see if President Biden comes to Congress with 641 00:36:14,440 --> 00:36:17,640 Speaker 1: that request. Based on lawmakers who I spoke with after 642 00:36:18,360 --> 00:36:22,000 Speaker 1: Ukrainian President of Vladimir's Lensky spoke with lawmakers the other week, 643 00:36:22,520 --> 00:36:25,560 Speaker 1: even among Republicans, there was just a high willingness to 644 00:36:25,640 --> 00:36:28,719 Speaker 1: go ahead and provide a provide whatever type of aid 645 00:36:28,800 --> 00:36:31,839 Speaker 1: is needed. So that's definitely one aspect to keep an 646 00:36:31,840 --> 00:36:33,799 Speaker 1: eye on it, and really kind of signals that the 647 00:36:33,840 --> 00:36:36,799 Speaker 1: Biden administration does not see this conflict is ending soon. 648 00:36:37,239 --> 00:36:39,600 Speaker 1: Lawmakers in both the House and the Senate will get 649 00:36:39,600 --> 00:36:42,960 Speaker 1: a classified briefing today from members of the State Department, 650 00:36:43,080 --> 00:36:46,000 Speaker 1: the Defense Department, and the Joint Chief of Staff on 651 00:36:46,040 --> 00:36:49,080 Speaker 1: the status of the war. Yeah, so we'll continue to 652 00:36:49,080 --> 00:36:52,520 Speaker 1: follow that certainly. Uh see if lawmakers come out with 653 00:36:52,560 --> 00:36:57,239 Speaker 1: any comments following those briefings later on this afternoon. What 654 00:36:57,400 --> 00:37:03,400 Speaker 1: about the legislation that have been considered to remove Russia's 655 00:37:03,719 --> 00:37:08,760 Speaker 1: normal trade status? Where's that gone? So that has wound 656 00:37:08,800 --> 00:37:13,600 Speaker 1: upstalled in the Senate. To to Kentucky Republican Senator Rand Paul, 657 00:37:14,239 --> 00:37:16,880 Speaker 1: he's concerned over this one section in the bill that 658 00:37:16,920 --> 00:37:20,439 Speaker 1: deals with sanctions on human rights abuses. Senator Paul says 659 00:37:20,480 --> 00:37:23,440 Speaker 1: the legislation really needs to get specific on which type 660 00:37:23,440 --> 00:37:25,920 Speaker 1: of abuses would trigger action. That it can't sort of 661 00:37:25,960 --> 00:37:29,040 Speaker 1: be the broad language that's currently in there, and the 662 00:37:29,400 --> 00:37:32,160 Speaker 1: lawmakers are trying to negotiate with him. The concern is 663 00:37:32,200 --> 00:37:34,680 Speaker 1: that even if the Senate did wind up making the changes, 664 00:37:34,920 --> 00:37:36,920 Speaker 1: it just delays the process. The bill has to go 665 00:37:36,960 --> 00:37:38,879 Speaker 1: back to the House, the House has to schedule vote, 666 00:37:38,920 --> 00:37:40,960 Speaker 1: the vote needs to be taken. They want this to 667 00:37:41,000 --> 00:37:43,440 Speaker 1: get to Biden's task as quickly as possible, and so 668 00:37:43,480 --> 00:37:46,680 Speaker 1: they want to avoid making any additional changes to the 669 00:37:46,760 --> 00:37:50,239 Speaker 1: legislation that the House passed. So um. Democratic Majority Leader 670 00:37:50,280 --> 00:37:54,120 Speaker 1: Chuck Schumer said that negotiations with Paul are ongoing. They're 671 00:37:54,120 --> 00:37:57,200 Speaker 1: hoping to have some sort of breakthrough soon, although certainly 672 00:37:57,560 --> 00:37:59,680 Speaker 1: as at a certain point here, uh, you know, the 673 00:37:59,719 --> 00:38:02,600 Speaker 1: still lay. It would be less time consuming to just 674 00:38:02,640 --> 00:38:05,040 Speaker 1: pass the changes, send it back to the House, and 675 00:38:05,080 --> 00:38:07,000 Speaker 1: then have the House clear it and send it to 676 00:38:07,040 --> 00:38:09,919 Speaker 1: President Biden. A lot of dynamics to keep on top 677 00:38:09,960 --> 00:38:12,360 Speaker 1: of in Washington when it comes to the war in Ukraine. 678 00:38:12,400 --> 00:38:13,880 Speaker 1: Thanks to this, Emily, good to have you with us 679 00:38:13,880 --> 00:38:18,240 Speaker 1: at Bloomberg. Government Reporter Emily Wilkins from Washington. Karen Nathan, 680 00:38:18,239 --> 00:38:20,360 Speaker 1: it is fifty three on Wall Street. It's down for 681 00:38:20,360 --> 00:38:22,880 Speaker 1: the Bloomberg Law Report. Let's get to the legal stories 682 00:38:22,920 --> 00:38:29,200 Speaker 1: where watching this morning from Bloomberg's Jeff Bellinger. A federal 683 00:38:29,280 --> 00:38:32,760 Speaker 1: judge in California approved an eighteen million dollar deal between 684 00:38:32,840 --> 00:38:37,360 Speaker 1: Activision Blizzard and the Equal Employment Opportunity Commission. Agreement subtle 685 00:38:37,440 --> 00:38:42,080 Speaker 1: sexual harassment and discrimination claims against Activision. Federal court filings 686 00:38:42,080 --> 00:38:45,200 Speaker 1: in Texas indicate Toyota reach settlements with more than two 687 00:38:45,200 --> 00:38:48,400 Speaker 1: dozen hybrid owners who sought to represent the class action 688 00:38:48,560 --> 00:38:52,000 Speaker 1: on claims of a dangerous break defect. McDonald's paid nearly 689 00:38:52,040 --> 00:38:55,520 Speaker 1: six point four million dollars to General Council Desiree Rols 690 00:38:55,560 --> 00:38:59,520 Speaker 1: Morrison after hiring her away from Boston Scientific last year. 691 00:38:59,640 --> 00:39:03,520 Speaker 1: Bloom Burg Law everything you need, all on one legal 692 00:39:03,560 --> 00:39:08,840 Speaker 1: research platform, including guidance analysis and Bloomberg Market Intelligence. Find 693 00:39:08,840 --> 00:39:12,040 Speaker 1: out more at Bloomberg Law dot com. All right, Jeff, 694 00:39:12,080 --> 00:39:14,600 Speaker 1: thank you. Now, another legal story we're watching brings us 695 00:39:14,640 --> 00:39:18,600 Speaker 1: to Sunday Nights now infamous slap. The question now is 696 00:39:18,600 --> 00:39:21,759 Speaker 1: whether Will Smith will face any consequences for slapping Chris 697 00:39:21,840 --> 00:39:24,759 Speaker 1: Rock at the Oscars. The Academy Emotion, Pictures, Arts and 698 00:39:24,800 --> 00:39:27,640 Speaker 1: Science is condemned Smith's actions and said it is starting 699 00:39:27,680 --> 00:39:30,839 Speaker 1: a formal review for more in the matter. Bloomberg's June 700 00:39:30,840 --> 00:39:34,200 Speaker 1: Grosso speaks to Rachel Phuzz, managing partner as Dui Back, 701 00:39:34,239 --> 00:39:37,640 Speaker 1: Physe and Coleman, and a former lawyer for the Academy. 702 00:39:37,840 --> 00:39:43,759 Speaker 1: Under California law, was the slap an assault and battery? Yes, absolutely, 703 00:39:43,800 --> 00:39:47,960 Speaker 1: that was a crime. It was a misdemeanor under California law. 704 00:39:48,040 --> 00:39:51,680 Speaker 1: That's an unwanted touching. It doesn't rise, I think, to 705 00:39:51,760 --> 00:39:54,280 Speaker 1: the level of a felony, which is a pretty bad 706 00:39:54,360 --> 00:39:58,200 Speaker 1: beating in that incident, but one he could have been 707 00:39:58,320 --> 00:40:01,200 Speaker 1: arrested and charged with a misdemeanor for that act. The 708 00:40:01,360 --> 00:40:04,040 Speaker 1: l a p D says that Chris Rock refused to 709 00:40:04,120 --> 00:40:08,319 Speaker 1: file a police report. Without a police report, are they 710 00:40:08,360 --> 00:40:11,600 Speaker 1: likely to go ahead with charges? They are not. Not. 711 00:40:11,719 --> 00:40:15,000 Speaker 1: In an incident like this where there's very little damage 712 00:40:15,040 --> 00:40:18,360 Speaker 1: done at the end of the day, the police department, 713 00:40:18,560 --> 00:40:21,719 Speaker 1: the d A. In this incident, where it would be 714 00:40:21,719 --> 00:40:24,799 Speaker 1: a misdemeanor, the city attorney would likely handle it here 715 00:40:24,840 --> 00:40:28,200 Speaker 1: in Los Angeles and they are very unlikely to proceeed 716 00:40:28,840 --> 00:40:34,759 Speaker 1: without the victim cooperation. Does Will Smith's popularity and status 717 00:40:34,880 --> 00:40:38,680 Speaker 1: as a mega star well, that stopped the Academy from 718 00:40:38,719 --> 00:40:42,360 Speaker 1: doing anything drastic, from doing anything more than a slap 719 00:40:42,360 --> 00:40:46,560 Speaker 1: on the wrist. The Academy has been conservative with its 720 00:40:46,600 --> 00:40:52,080 Speaker 1: approach to superstars in the past. I think because it 721 00:40:52,200 --> 00:40:57,600 Speaker 1: is a body made up of writers, directors, and actors 722 00:40:57,680 --> 00:41:03,640 Speaker 1: that punishing others in the industry in drastic ways is 723 00:41:03,760 --> 00:41:07,000 Speaker 1: very difficult for the Academy and they have to be 724 00:41:07,160 --> 00:41:12,960 Speaker 1: very thoughtful about how they go about various types of consequences. 725 00:41:13,000 --> 00:41:17,280 Speaker 1: So I think Will Smith that his status will affect 726 00:41:17,560 --> 00:41:22,360 Speaker 1: how this investigation and the ultimate resolution comes out. What 727 00:41:22,440 --> 00:41:25,840 Speaker 1: are the possible consequences what they could do, Not that 728 00:41:25,880 --> 00:41:28,479 Speaker 1: I'm saying they will do. I think it's everywhere from 729 00:41:28,520 --> 00:41:33,200 Speaker 1: revoking his membership to the academy. They could revoke his OSCER. 730 00:41:33,880 --> 00:41:39,960 Speaker 1: They could ban him from attending the officers for one 731 00:41:40,040 --> 00:41:44,240 Speaker 1: year or in perpetuity. I would think they will also 732 00:41:44,360 --> 00:41:47,080 Speaker 1: look to see if they can find him under their 733 00:41:47,120 --> 00:41:49,560 Speaker 1: by laws. So if you had to take a guess, 734 00:41:50,239 --> 00:41:53,000 Speaker 1: what would you guess would be the consequences for Will 735 00:41:53,040 --> 00:41:57,040 Speaker 1: Smith here? My guess is he gets to keep his oscar. 736 00:41:57,160 --> 00:41:59,360 Speaker 1: They're not going to take his oscar away, which is 737 00:41:59,400 --> 00:42:03,080 Speaker 1: a consequence and they could implement if I were guessing, 738 00:42:03,239 --> 00:42:06,480 Speaker 1: they will either ban him for one year from attending 739 00:42:06,520 --> 00:42:10,680 Speaker 1: the oscars or suspend him for some three to six 740 00:42:10,719 --> 00:42:13,800 Speaker 1: months period of time from the academy. That's Rachel Phose, 741 00:42:13,920 --> 00:42:17,040 Speaker 1: a managing partner at Zwibeck, Physe and Coleman, speaking with 742 00:42:17,080 --> 00:42:19,920 Speaker 1: the Bloomberg student Gross Soo. Catch more of that interview, 743 00:42:19,960 --> 00:42:23,000 Speaker 1: plus analysis of the latest legal news by subscribing to 744 00:42:23,040 --> 00:42:26,320 Speaker 1: the Bloomberg Law podcast or downloading the show at Bloomberg 745 00:42:26,400 --> 00:42:30,400 Speaker 1: dot com slash podcast. Attorneys can find exceptional legal research 746 00:42:30,400 --> 00:42:33,520 Speaker 1: and business development tools at Bloomberg law dot com and 747 00:42:33,560 --> 00:42:36,840 Speaker 1: on the Bloomberg terminal at b Law. Go s and 748 00:42:36,880 --> 00:42:39,960 Speaker 1: P Future is down thirteen points this morning, Dawn Future 749 00:42:40,000 --> 00:42:43,239 Speaker 1: is down eight two, nasdack Futures down sixty one, and 750 00:42:43,239 --> 00:42:46,480 Speaker 1: Bloomberg day Break continues. This is Bloomberg