Speaker 1: By from the Bloomberg and Directive Burgers studios. This is
Speaker 1: Bloomberg day Break for Tuesday, July twelve two. Coming up
Speaker 1: this hour, The Wall Street stock sell off continues this morning.
Speaker 1: They says the worst of the energy crisis maybe ahead.
Speaker 1: We are tracking the latest developments in the Twitter elon
Speaker 1: musk saga and the January six Committee focuses on far
Speaker 1: right groups and what former President Trump knew about their plans.
Speaker 1: Officials want people in New York City to mask up
Speaker 1: again indoors plus. Funeral services were held today for former
Speaker 1: Japanese per Minister Robert On Michael bar More Ahead, I'm
Speaker 1: John Stashward sports matchers or pitched the Mets to a
Speaker 1: big win in Atlanta, and pet Delonso will be in
Speaker 1: next week's Home One Dirty. That's All's trading ahead on
Speaker 1: Bloomberg Daybreak on Bloomberg eleven, Free on New York, Bloomberg
Speaker 1: nine one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties and Francisco Sirius XM one nine team
Speaker 1: and around the world down Bloomberg Radio dot com and
Speaker 1: via the Bloomberg Business App. Good morning, I'm Nathan Hagar
Speaker 1: and I'm Karen. Moscow and US index futures are lower
Speaker 1: this morning. We're coming up to find the one on
Speaker 1: Wall Street, and we check the markets every fifteen minutes
Speaker 1: throughout the trading day. On Bloomberg and SMP futures are
Speaker 1: down twenty one points down, futures down a hundred sixty eight,
Speaker 1: and NASDAG futures down sixty three. The decks in Germany's
Speaker 1: down six tenths of upper cent. The ten year treasury
Speaker 1: of twenty thirty seconds yield two point nine zero percent,
Speaker 1: and they yield on the two year two point nine
Speaker 1: nine percent, and Bitcoin is at nineteen thousand, seven hundred
Speaker 1: sixty dollars. Nathan Well Karen futures are adding to yesterday's losses,
Speaker 1: which saw all three major indexes fall. Hardest hit was
Speaker 1: the Nasdaq, which fell two into quarter percent. Still, Alan
Speaker 1: zaffron Co, CEO at I e Q Capital says growth
Speaker 1: stocks may be the place to invest. We are looking
Speaker 1: forward at a slower growing economy, given what's happening with
Speaker 1: the ED, given what's happened with a more heightened inflationary environment,
Speaker 1: and so it is a setup for growth stocks to outperform.
Speaker 1: Value stocks looking forward for quite some time. I e
Speaker 1: Q Capital's Alan Zafferan says the upcoming earning season will
Speaker 1: be key for the markets. Well, Nathan, The Wall Street
Speaker 1: sell off spread to Asia overnight, both Japan's and EK
Speaker 1: and Hong Kong's Hang Sang Index strat more than one percent.
Speaker 1: Make at the recap from Bloomberg Daybreak, Asia anchor Brian
Speaker 1: Curtis in Hong Kong, Asian stocks fell on concerns over
Speaker 1: the economic outlook, high inflation, and China's issues with COVID.
Speaker 1: The tech sectors struggled, sparking weakness in Japan, Hong Kong,
Speaker 1: and China. The dollar pushed higher, up near the levels
Speaker 1: that we saw in the panic over COVID. The euro
Speaker 1: has edged closer to parody, with the greenback sapped by
Speaker 1: Europe's energy crisis and fears of recession. Treasuries gained, taking
Speaker 1: the tenure yield well below three percent. Bonds also rallied
Speaker 1: in Australia. You know, Hong Kong, Brian Curtis, Bloomberg Daybreak,
Speaker 1: All right, Brian, thank you well. Oil is lower this
Speaker 1: running down two and a quarter per cent for West
Speaker 1: Texas Intermediate at a hundred one dollar seventy five cents
Speaker 1: of barrel. A COVID resurgence in China is adding to
Speaker 1: concerns about a global economic slowdown. Fatty Barol, executive director
Speaker 1: at the International Energy Agency, says the worst of the
Speaker 1: energy crisis maybe ahead. The world has never witnessed such
Speaker 1: a major energy crisis. It is interwoven by many factors,
Speaker 1: including the geopolitics, and I believe we might not have
Speaker 1: seen the worst of it yet. I e A Executive
Speaker 1: director Fatty Barol says this winter in Europe will be
Speaker 1: quote very, very difficult. Well. Investors are closely watching for
Speaker 1: the release of June's Consumer Price Index tomorrow, Nathan. The
Speaker 1: White House is giving an eye on it too. Press
Speaker 1: Secretary Karine John Pierre says the inflation data will be
Speaker 1: highly elevated, but she also notes it's backward looking. June's
Speaker 1: CPI data is already out of date because energy prices
Speaker 1: have come down substantially this month and are expected to
Speaker 1: fall further. White House Karen John Billerre says food and
Speaker 1: gas prices continue to be impacted by the war in Ukraine.
Speaker 1: Economist surveyed by Bloomberg expect June prices to jump eight
Speaker 1: point eight percent compared to last year, and that would
Speaker 1: be a fresh forty year high. Well, Karen, we continue
Speaker 1: to follow the saga between Elon Musk and Twitter. Shares
Speaker 1: fell more than eleven percent yesterday for the social media company.
Speaker 1: Let's get the latest live from Bloomberg's Rnita Young. Good morning, Rnita,
Speaker 1: Good morning, Nathan. Twitter lawyers are calling Elon Musk's termination
Speaker 1: of his forty four billion dollar deal to buy the
Speaker 1: company invalid and wrongful. They wrote it in a letter
Speaker 1: to his attorneys, and it's a preliminary step in the
Speaker 1: legal battle over the deal. And Musk agreed to buy
Speaker 1: Twitter for fifty four dollars and twenty cents a share
Speaker 1: back in late April, but he terminated the agreement because
Speaker 1: he believes Twitter misrepresented user data, claiming the number of
Speaker 1: spambots on the platform is much higher than the five
Speaker 1: percent the company has disclosed. Bloomberg sources say Twitter aims
Speaker 1: to file suit early this week. The agreement specifies any
Speaker 1: legal dispute over the deal must be heard in Delaware.
Speaker 1: Live in New York. I'm gonna need a Young Bloomberg daybreak,
Speaker 1: all right, We need to thank you well, one other note.
Speaker 1: In the World's Richest Man This Morning, Elon must says
Speaker 1: Donald Trump should quote sail into the sunset and forget
Speaker 1: about running for president again, And a series of tweets
Speaker 1: Must claim to that Florida Governor Rhonda Santis would easily
Speaker 1: defeat President Biden. He also told his one hundred million
Speaker 1: followers that there was too much drama when former President
Speaker 1: Trump was in office. A meantime, Karen testimony on last
Speaker 1: year's attack at the US Capital rolls on in Washington.
Speaker 1: Up next the House January six committee focuses on the
Speaker 1: roll of extremists in the insurrection. Bloomberg said Baxter has
Speaker 1: the story. Committee member Jamie Raskin says it will continue
Speaker 1: building on the case that Donald Trump had a hand
Speaker 1: and trying to overthrow the results of the election and
Speaker 1: led to the advance that day on January six, Raskin says,
Speaker 1: we will focus on what's become known as Team Crazy,
Speaker 1: a group of people around Trump, Sidney Pale, Rudy Giuliani
Speaker 1: among them. Raskin says one of the meetings was unlike
Speaker 1: anything in American history. Now. The committee has also announced
Speaker 1: postponement a Thursday's hearing because it is getting so much
Speaker 1: new information on White House ties in San Francisco. I'm
Speaker 1: at Baxter Bloomberg Daybreak, and thank you. In corporate news
Speaker 1: this morning, San Francisco based Gap has fired at CEO
Speaker 1: Sonia Singal was dismissed after two and a half years
Speaker 1: in the job. And we get the story from Bloomberg's
Speaker 1: Charlie Pellett. The apparel company is struggling to leave operational
Speaker 1: challenges behind it. Chairman Bob Martin is taking over immediately
Speaker 1: as CEO on an interim basis. GAP shares aren't down
Speaker 1: fifty percent this year, compared with a thirty percent dropped
Speaker 1: for the S and P five hundred retailing index. Single
Speaker 1: took over in early twenty right before Covid royaled the
Speaker 1: business and demand. Prior to that, she was in charge
Speaker 1: of the company's old Navy brand in New York. Charlie
Speaker 1: Pellett Bloomberg Daybreak. All right, thank you, Charlie, and job
Speaker 1: cuts are coming at Microsoft. The layoffs effect less than
Speaker 1: one percent of the workforce and span a variety of groups,
Speaker 1: including consulting and customer and partner solutions. Microsoft says the
Speaker 1: cuts were not spurred by economic factors, but in May
Speaker 1: the company slowed hiring in its windows and office groups.
Speaker 1: Straight ahead your latest local headlines in the check of sports.
Speaker 1: This is Bloomberg South five oh seven on Wall Street.
Speaker 1: We are at seventy degrees in central parking looking at
Speaker 1: twenty minute delays on the upper level of George Washington Bridge.
Speaker 1: Use the lower more coming up in traffic First Michael
Speaker 1: Barr with what else is going on in New York
Speaker 1: and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: The Department of Health is continuing to urge New York
Speaker 1: City residents to wear masks in all public indoor settings
Speaker 1: and in crowded areas outdoors because I went uptick in COVID.
Speaker 1: It comes as the latest omicron variant B A point
Speaker 1: five has become the dominant strain in the US. This
Speaker 1: New Yorkers says people got lacks about masking. I think
Speaker 1: the city's the government's gonna have a hard time getting
Speaker 1: people back into mask Meanwhile, about two out of three
Speaker 1: people in the US are fully vaccinated. Harvard Medical School
Speaker 1: professor Dr John Brownstein says the evolution of variance unresponsive
Speaker 1: to immunity from previous infection means we are likely going
Speaker 1: to have to give up on the idea of her immunity.
Speaker 1: You see this virus evolved quicker and quicker, and we'll
Speaker 1: probably see another variant in the fall. So the main
Speaker 1: question really is can we avert really serious outcomes like
Speaker 1: deaths and hospitalizations. But inmiologist Dr John Brownstein is also
Speaker 1: the Chief Innovation Officer at Boston Children's Hospital. Police in
Speaker 1: New York City they're looking for a man they say
Speaker 1: is targeting homeless people in a string of stabbing attacks.
Speaker 1: The latest victim a twenty eight year old woman attacked
Speaker 1: early yesterday. Police say the same man can be seen
Speaker 1: on surveillance cameras in all three locations where homeless people
Speaker 1: have been stabbed in the last week. The first stabbing
Speaker 1: was on jo I Five. Thirty four year old man
Speaker 1: resting on the bench was stabbed and later died from
Speaker 1: his injuries. Three days later, a fifty nine year old
Speaker 1: homeless man was stabbed in the abdomen. Japanese people have
Speaker 1: said goodbye to former Prime Minister Shinzo Abe. A family
Speaker 1: funeral was held at a temple days after his assassination
Speaker 1: that shocked the nation. Abbe the country's longest serving prime minister,
Speaker 1: who remained influential even after he stepped down two years ago,
Speaker 1: was gunned down Friday during a campaign speech. The first
Speaker 1: image from NASA's new Space Telescope is the deepest view
Speaker 1: of the universe ever captured. The image from the James
Speaker 1: Webb Space Telescope was unveiled at the White House President
Speaker 1: Joe Biden. Light from the Oldest Galaxies, the oldest documented
Speaker 1: light in the history of the universe, from over thirteen
Speaker 1: billion Let me say that again, thirteen billion years ago. Today,
Speaker 1: four more galactic shots will be released Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake
Speaker 1: Power about more than twenty seven hundred journalists and antaalists,
Speaker 1: more than a hundred twenty countries. Michael bar this is
Speaker 1: Bloomberg naked alright, Michael, thank you almost five ten on
Speaker 1: All Street time for the Bloomberg Sports up Take. Good morning,
Speaker 1: John Sho, Good morning Nathan. The Mets are paying maxers
Speaker 1: are at forty three million dollars a year. They are
Speaker 1: doing that for games like last night in Atlanta. Mets
Speaker 1: lead over the Braids once ten and a half games
Speaker 1: at dwindled to one and a half thanks to Atlanta's
Speaker 1: twenty nine and eight records since June one, they have
Speaker 1: the best offense in the National League. Shars shut them down,
Speaker 1: allowed only one hit over the first six sitting stuck
Speaker 1: out and nine shows are in. The Mets beat the
Speaker 1: Prey four to one. We want to play good baseball,
Speaker 1: and especially this time of year. Uh. You know, they're
Speaker 1: a great team over there, and you want to come
Speaker 1: out there and play your best baseball. Uh. And you
Speaker 1: know when you you can collect wins against them, and
Speaker 1: you know, that's kind of a measuring stick win and
Speaker 1: you know it's it's a good feeling. So um, you know.
Speaker 1: But like you said, we're in one getting game here
Speaker 1: in July. We gotta go out there and played, you know,
Speaker 1: great months of John got a home run from Luisti
Speaker 1: or may rbi double from Pete Alonso, Pete an ounce
Speaker 1: he'll go for the home run derby three. Pete. He's
Speaker 1: never not won it, the winner in two thousand nineteen
Speaker 1: and last year didn't have it in the Braves. Ronald
Speaker 1: the Kun you will be one of his competitors next
Speaker 1: Monday in Los Angeles. Rest of the field not getting
Speaker 1: off Yankee so Cincinnati Reds tonight at the Reds are swept,
Speaker 1: Tampa Bay the Rays. Last night Pete the Red Stots
Speaker 1: ten to five. As the British Open gets ready to
Speaker 1: tee off Thursday at St. Andrew's. Still much talk about
Speaker 1: the new Live Tour, with word that the Anti Trust
Speaker 1: Division of the Justice Department is investigating whether the PG
Speaker 1: eight Tour used anti competitive practices against the Lift Tour.
Speaker 1: The PGA says it expected this and is confident there
Speaker 1: was no wrongdoing. John stash Award Bloomberg Sports All right,
Speaker 1: John thanks SMP futures down one staff, futures down a
Speaker 1: hundred seventy six, dance at Futures down fifty nine points
Speaker 1: ahead of tomorrow's CPI data that the White House already
Speaker 1: says will be highly elevated. More on what the White
Speaker 1: House has to say about an inflation next, Bloomberg Washington
Speaker 1: correspondent Joe Matthew is coming up. Bloomberg. Gay Break is
Speaker 1: brought to you by the New York Community Trust. Your
Speaker 1: name will live on as a champion of the causes
Speaker 1: you care about for years to come through a charitable
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Speaker 1: philanthropists dot n y C markets headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot com. The
Speaker 1: Bloomberg Business Outland at Bloomberg Quick Tape is a Bloomberg
Speaker 1: Business Flash and I'm Karen Moscow Stocks in u S
Speaker 1: stock index futures are following this morning as the dollar
Speaker 1: and sovereign vaughns rise a pattern highlighting pervasive unease about
Speaker 1: the economic outlook amid high inflation and China struggles with COVID.
Speaker 1: We checked the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg S and P futures down down futures
Speaker 1: and A hundred seventy five and NASDAG futures down fifty seven.
Speaker 1: The decks in Germany's down six tenths of upper sent
Speaker 1: ten year treasury of twenty thirty seconds held two point
Speaker 1: nine one percent yield on the two year two point
Speaker 1: nine eight percent. Ninemex screwed oil is down two point
Speaker 1: eight percent, down two dollars eighty eight cents at a
Speaker 1: hundred one dollars twenty four cents of barrel. Comex school
Speaker 1: is up a tenth of a percent of a dollar
Speaker 1: sixty at seventeen thirty three fifty announced the euro one
Speaker 1: against the dollar, the British pound one point one eight
Speaker 1: to one, and the end is at one thirty seven
Speaker 1: point to zero. Looking at a big coin at this morning,
Speaker 1: down more than three percent at nineteen thousand, seven hundred
Speaker 1: seventy dollars. And today we are watching for a report
Speaker 1: on small business optimism amount at six o'clock Wall Street
Speaker 1: time and PepsiCo. I'm on company schedule to report earnings
Speaker 1: and that's a balloon Berg business flash. Now here's Michael
Speaker 1: Barr with more on what's going on around the world. Muncle,
Speaker 1: Good morning, Good morning care. In another public hearing today
Speaker 1: by the Congressional Committee investigating the deadly January sixth insurrection,
Speaker 1: This hearing will focus on the involvement of white supremacists
Speaker 1: hate wops in the attack on the Capitol and feature
Speaker 1: testimony by former White House Consul Pat Sabloni, whom investigators
Speaker 1: say cooperates former White House aid Cassidy Hutchinson. People in
Speaker 1: Japan to bid their final goodbye to former Prime Minister
Speaker 1: Shinzo Abe. Family funeral was held at the Temple days
Speaker 1: after his assassination that shocked the nation. In baseball, the
Speaker 1: Mets one, red, Sox, A's and Giants lost. Global news
Speaker 1: twenty four hours a day on a or and on
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven hun journalists
Speaker 1: and analysts more than a hundred twenty countries. Michael Barr
Speaker 1: and this is Bloomberg Natham. All right, Michael. Thanks, It's
Speaker 1: five nineteen on Wall Street Live from the Bloomberg Interactive
Speaker 1: Broker Studios. This is Bloomberg Daybreak. Investors are waiting closely
Speaker 1: for the consumer price data that's coming out tomorrow for
Speaker 1: the month of June. The White House is watching for
Speaker 1: it as well, and already warning that it expects June
Speaker 1: consumer prices to be highly elevated. Let's head over to
Speaker 1: the nation's capital. Lots going on there, so we're pleased
Speaker 1: to be joined out by Joe Matthew, Bloomberg, Washington correspondent,
Speaker 1: host of sound On on Bloomberg Radio. Joe, good morning.
Speaker 1: Sounds like the White House is really trying to get
Speaker 1: out in front of tomorrow's inflation data based on what we
Speaker 1: we heard from the White House Press Secretary yesterday, and
Speaker 1: we saw this a month ago as well, and trying
Speaker 1: to say, look, this is gonna be tough. Remember that
Speaker 1: they were trying to delineate the difference for the brief
Speaker 1: the reporters in the briefing room who are not mostly
Speaker 1: financial reporters, and for people in their living rooms, the
Speaker 1: difference between headline and core inflation. It's going over the
Speaker 1: heads of a lot of people to at this time
Speaker 1: around highly elevated to your point. Was the word from
Speaker 1: or the phrase from the Press Secretary Karine Jean Pierre,
Speaker 1: who said the reading as well, was already out of date.
Speaker 1: Now that that's really where the White House is going here. Look, Nathan,
Speaker 1: it's gonna be bad, but guess what, it's already out
Speaker 1: of date. It's a rear view looking indicator. And we
Speaker 1: know that prices have come down a bit since this
Speaker 1: was taken. But of course, if you do this for
Speaker 1: a living, like you do ethan Uh, you note that
Speaker 1: all economic data is right and absolutely and it raises
Speaker 1: the question as we try to look forward here what
Speaker 1: the White House is doing about it. We also heard
Speaker 1: from Karine John Pierre saying that the President has been
Speaker 1: laser focused on getting prices down. That's also a message
Speaker 1: that we've been hearing for the last couple of months. Yeah,
Speaker 1: and we hear it just about every day from from
Speaker 1: most of his surrogates who were out their cabinet secretaries
Speaker 1: and the President himself. You could ask them something about Christmas,
Speaker 1: Nathan whatever, come up with any the the answer will
Speaker 1: be preceded by just a reminder that this president is
Speaker 1: laser focused on inflation. It is his top domestic priority,
Speaker 1: and that's partly why he's getting on an airplane tonight
Speaker 1: to go to the Middle East in an attempt to
Speaker 1: secure more oil resources. But of course energy is only
Speaker 1: part of this inflation story, and we're gonna see that
Speaker 1: come to bear in the CPI report. Is that really
Speaker 1: gonna be the focus of what President Biden is looking
Speaker 1: for when he heads to Saudi Arabia? I mean a
Speaker 1: lot of the critics of the President have been saying
Speaker 1: he's going hat in hand. Well, that's right, more energy,
Speaker 1: and the White House has been careful to try to
Speaker 1: manage the messaging around this. Look, he's clearly going to
Speaker 1: be looking for more oil output, but the White House
Speaker 1: is framing this is more of a security trip. He's
Speaker 1: going to Israel first, it's gonna visit the West Bank.
Speaker 1: Then he gets on an airplane and flies to jetto where,
Speaker 1: and he'll be asking that all OPEC members increased production.
Speaker 1: But look, if you if you read Bloomberg, if you
Speaker 1: have a terminal, you know that Saudi Arabia and the
Speaker 1: U a E are the only members of OPEC with
Speaker 1: any real spare capacity. And there are questions about that,
Speaker 1: not just their ability to pump more, but say we
Speaker 1: get a whole bunch more crude, we gotta gush your Nathan.
Speaker 1: It's only part of the story because US refineries are
Speaker 1: of course already at nine capacity, so it's unclear that
Speaker 1: we'd be able to do a lot with that oil
Speaker 1: to lower gas prices in the time we have left. Joe.
Speaker 1: We have another January sixth hearing coming up later on
Speaker 1: this afternoon. It's gonna be focused on extremist groups. Give
Speaker 1: us a little more of a setup. Extremist groups like
Speaker 1: the Proud Boys, like the oath Keepers. The members of
Speaker 1: this committee, Democrats and Republicans, are hoping to try to
Speaker 1: start connecting the dots, the convergence that Congressman Jamie Raskin
Speaker 1: has talked about. We're just not clear, Nathan, on whether
Speaker 1: this is going to be directly from the White House
Speaker 1: some sort of through some sort of back channels or
Speaker 1: or indirect leaves, a convergence that just happened to take
Speaker 1: place because people were reading the President's tweets. That's what
Speaker 1: we have yet to learn. How much are we expecting
Speaker 1: former White House counsel Hat Sipoloni's closed or testimony from
Speaker 1: last week to factor and they will This woul be
Speaker 1: a big part of the hearing. Of course, they're not
Speaker 1: going to see it in long form, but like we
Speaker 1: have in other interviews other testimony, they'll use clips to
Speaker 1: corroborate what we heard from witnesses like Cassidy Hutchinson, knowing
Speaker 1: that Sippoloni was in the room for a lot of
Speaker 1: those uh, really outrageous events that she described in her
Speaker 1: recent testimony. And we've also gotten word in our last
Speaker 1: thirty seconds here that the next hearing after today has
Speaker 1: been postponed. Is part of that because of the Steve
Speaker 1: Bannon situation. It may well be Look, this was supposed
Speaker 1: to be in prime time on Thursday night. This was
Speaker 1: gonna be the big finale. It has been postponed. We're
Speaker 1: not sure exactly when it's gonna take place, likely in
Speaker 1: the next week. But yes, Donald Trump cleared Bannon to testify,
Speaker 1: giving up executive privilege in this case that could lead
Speaker 1: to some pretty dramatic testimony. Trump wants someone on that panel,
Speaker 1: Nathan or testifying before that committee, to come to his
Speaker 1: defense and thinks Bannon is the one to do it.
Speaker 1: Joe Matthew Bloomberg Washington Correspondent, and of course much more
Speaker 1: to come on sound on every weekday on Bloomberg Radio
Speaker 1: five pm Wall Street Time. We'll be checking back with
Speaker 1: Joe as well later on in this program here on
Speaker 1: Bloomberg and Daybreak. Looking ahead to the market open this morning,
Speaker 1: UH stocks are poised for more losses. Right now, SMP
Speaker 1: futures are down twenty three points down, futures down eight
Speaker 1: NASTAC futures down sixty six. The ten year treasury up
Speaker 1: nineteen thirty seconds, yield two point nine one percent, yield
Speaker 1: on the two year even higher two point nine nine percent.
Speaker 1: The euro point zero zero zero five against the dollar.
Speaker 1: This is Bloomberg Bloomberg eleven three oh Weather chance drafting
Speaker 1: in showers and thunderstorms today. Some of them could be strong,
Speaker 1: as we had a near ninety degrees near ninety again tomorrow.
Speaker 1: Upper eighties by Thursday right now seventy in Central Park,
Speaker 1: broadcasting live from the Bloomberg Interactive Broker Studio in New York,
Speaker 1: Bloomberg E Living Free to Washington, d C. Bloomberg to Boston,
Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg sixty
Speaker 1: to the country, Sirius XM to the one nine team,
Speaker 1: and around the globe the Bloomberg Business and Bloomberg Radio
Speaker 1: dot Com. This is Bloomberg Daybreak. HiT's five thirty on
Speaker 1: Wall Street Coomboarding. I'm Nathan Hager and I'm Karen Moscow.
Speaker 1: We are just about four hours away from the open
Speaker 1: of US trading. Let's get you have to date on
Speaker 1: the news you need to know. At this hour, US
Speaker 1: futures are lower, adding to yesterday's losses, which saw all
Speaker 1: three major indexes slump. Mike vocals Sang, chief investment officer
Speaker 1: at cap Trust, says, at this point, it's unclear how
Speaker 1: markets are pricing in a recession. This recession has been
Speaker 1: so anticipated that it's far to believe the market hasn't
Speaker 1: discounted most of it. Maybe the surprise will be that
Speaker 1: it's that it's really really a negative and difficult and
Speaker 1: deep recession. We don't think so. It also could be
Speaker 1: that we don't really hit a recession. We're like a
Speaker 1: stone skipping off the top of the pond and moving
Speaker 1: on and back up again. That's the question I think,
Speaker 1: and I think we're going to know a lot more
Speaker 1: about that as we had into earning season later this
Speaker 1: week and then the next couple of weeks. Mike vocals
Speaker 1: Sang at Cap Trust as forward guide and from companies
Speaker 1: will be watched closely over the next few weeks. Now,
Speaker 1: the Wall Street Cell Office spreading overseas Karen Japan's NIEK
Speaker 1: and Hong Kong's Hang Sang Index both dropped more than
Speaker 1: one percent overnight over concerns of inflation and COVID in China.
Speaker 1: Oil is moving lower as as well. Checking prices now
Speaker 1: Nimex cruge down two point seven hundred one dollar thirty
Speaker 1: one cents of barrel Brent is down two point four
Speaker 1: percent at a hundred four dollars fifty four cents. Well,
Speaker 1: investors are looking ahead to the release of June's Consumer
Speaker 1: Price indext tomorrow, Nathan, and so is the White House
Speaker 1: Press Secretary Karine Jeanpierre says prices continue to be impacted
Speaker 1: by the war in Ukraine. We got here with the
Speaker 1: with the increase of gas prices and food prices because
Speaker 1: of Mr. Putin's war in Ukraine. White House Smoke showman
Speaker 1: Karine Jeanpierre says the latest inflation data will be elevated,
Speaker 1: but also notes it's backward looking. While we're continuing to
Speaker 1: follow the saga between Elon Musk and Twitter. This morning,
Speaker 1: Karen after it shares a Twitter fell eleven percent yesterday.
Speaker 1: Bloomberg's Rnita Young joins us Live. Good morning, Ranita, Good morning, Nathan.
Speaker 1: Twitter lawyers are calling Elon Musk's termination of his forty
Speaker 1: four billion dollar deal to buy the company invalid and wrongful.
Speaker 1: They wrote it in a letter to his attorneys, and
Speaker 1: it's a preliminary step in the legal battle over the deal.
Speaker 1: And Musk agreed to buy Twitter for fifty four dollars
Speaker 1: in twenty cents a share, but he terminated the agreement,
Speaker 1: claiming the number of spam bots on the platform is
Speaker 1: much higher than the company disclosed. Bloomberg sources say Twitter
Speaker 1: aims to file suit early this week. Live in New York.
Speaker 1: I'm gonna need a Young Bloomberg Daybreak, All right, rened
Speaker 1: to thank you and sticking with corporate news. Job cuts
Speaker 1: are coming at Microsoft. Layoffs are affecting less than one
Speaker 1: percent of its workforce, and the company says cuts were
Speaker 1: not spurred by economic factors. Sure had your latest local
Speaker 1: headlines plus a check of sports. This is Bloomberg. Thanks
Speaker 1: on Wall Street. Seventy degrees in Central Park construction as
Speaker 1: eighth Avenue closed from forty to Columbus Circle. More coming
Speaker 1: up in traffic. First Michael Barr with more on what's
Speaker 1: going on in New York and around the world. Michael,
Speaker 1: thank you very much, Nathan. The January six Committee is
Speaker 1: preparing to highlight how violent extremist groups answered what one
Speaker 1: lawmaker says was Donald Trump's siren call to come to
Speaker 1: Washington and attack the capital. The panel is set to
Speaker 1: convene today. The committee is probing whether extremist groups coordinated
Speaker 1: with White House allies ahead of the violence. Police in
Speaker 1: New York City are looking for a man, they say
Speaker 1: staff the twenty eight year old homeless woman early Monday.
Speaker 1: They say the suspect is behind similar attacks in the
Speaker 1: past week, including one that was fatal. Police say they
Speaker 1: have video and photos of the same man at all
Speaker 1: three locations. The latest omicron variant B A point five
Speaker 1: has become the dominant strain in the U S. As
Speaker 1: COVID cases increase, cities like New York and Los Angeles
Speaker 1: are asking people to mask up indoors and in crowded areas.
Speaker 1: This New Yorker says, though masking is not enough to
Speaker 1: avoid COVID, people should remember even more important as washing
Speaker 1: your hands. That's actually, that's actually as important, if not
Speaker 1: more important, than the masking. Health officials across the nations
Speaker 1: say the US is still averaging about one hundred thousand
Speaker 1: cases a day. The family funeral was held today for
Speaker 1: Japan's former Prime Ministrations Ambe. A motorcade including a hers
Speaker 1: slowly drove by a packed crowd to the funeral. This
Speaker 1: man was among the crowd of mourners. Mrs is one
Speaker 1: of the greatest uh prime minister in the Japanese history,
Speaker 1: and a lot of people look out to a lot
Speaker 1: of people, and we're so sad that we lost him.
Speaker 1: Only Abbe's widow, close family members, and senior party leaders,
Speaker 1: including Prime Minister Fumio Kashita, attended the service. The Chief
Speaker 1: Judge of New York's Court of Appeals says you will
Speaker 1: step down after more than six years presiding at the
Speaker 1: state's highest court. Judge Janet di Fiori, who is sixty six,
Speaker 1: says she will leave at the end of August and
Speaker 1: move on to the next chapter of her professional life.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than a d twenty countries. I'm
Speaker 1: Michael barn This is Bloomberg. Nath It Michael, thank you
Speaker 1: on All Street time for the Bloomberg Sports Upthing with
Speaker 1: John steps Show. Thanks Nathan and Mets went down to
Speaker 1: Atlanta well aware that fifteen of their last seventy six
Speaker 1: games or against the team had stunned the defending World
Speaker 1: Series James, but the hottest team in MLB twenty nine
Speaker 1: and eight since June one, met still in first place,
Speaker 1: but their lead over the on rushing praise that the
Speaker 1: game and a half. That's the smallest since mid April. Thankfully.
Speaker 1: For the series opener, the Mets had Max scherz Are
Speaker 1: on the mound, pitched seven as allowed only one run,
Speaker 1: three had struck out nine Mets beat the Braids four
Speaker 1: to one. So shars or two starts to missing seven
Speaker 1: weeks and its alloud of onnely one run. He was
Speaker 1: asked the advice he gave to his younger teen nine
Speaker 1: when you get a droning playoff bit, you know, don't
Speaker 1: be don't don't be a shy away from it, bringing on,
Speaker 1: this is what you played the game for. It. You
Speaker 1: want to be in these situations. You want to be
Speaker 1: facing the best teams in the league. You want to
Speaker 1: be in a racist you know, you gotta rise to
Speaker 1: the occasion and matching. Um. So they have a uh,
Speaker 1: you know, atmosphere like this tonight. Uh, playing in this
Speaker 1: type of environment, it's only good to you know, continue
Speaker 1: playing this and uh, you know in feet off see,
Speaker 1: Alonso won a four Mets name to play next week's
Speaker 1: All Star Game in l a and Alonso announced he
Speaker 1: will also be in the Home Run Derby next Monday.
Speaker 1: He's won the last two Yankees only wants this season,
Speaker 1: have lost three games in the row off the back
Speaker 1: to back blown leads in Boston. The yanksos home tonight
Speaker 1: to play the Cincinnati Bet. The NBA expected to make
Speaker 1: official today that the play intorney that's been used the
Speaker 1: last two seasons will become a permanent part of the postseason.
Speaker 1: Four teams in each conference vying for the last two
Speaker 1: spots that then goes into the first round. Jnifer Broncos
Speaker 1: have new owners. It was revealed that part of the
Speaker 1: new ownership group former National Security advisor Condoleeza lights John
Speaker 1: Stash award Bloomberg's books. Nathan thanks John seven on Wall
Speaker 1: Street Time for the Tri State Business Report with Bloomberg's
Speaker 1: head Cory. New York City's multifamily developments face an unsettled
Speaker 1: future following the expiration of a tax incentive for affordable housing.
Speaker 1: The fifty one year old program expired in June. When
Speaker 1: lawmakers fail to renew or replace it, dal Jones reports
Speaker 1: developers are scrambling the complete rental projects or build other
Speaker 1: types of property. Thirty nonprofits in New Jersey are expected
Speaker 1: to get grants totally nearly eighteen million dollars. The money
Speaker 1: will support the state's restaurant industry while battling hunger at
Speaker 1: the same time. It's the third phase of its Sustain
Speaker 1: and Serve New Jersey program. Cartena Capital of Connecticut Hedge
Speaker 1: Fund committed eight and a half million dollars to support
Speaker 1: Elon Musk's proposed acquisition of Twitter. The Connecticut Post reports
Speaker 1: the fundest staying quiet after the world's richest man announced
Speaker 1: last week that he would abandon his bid to buy
Speaker 1: the social media platform. That's your Bloomberg Trying State Business Report.
Speaker 1: I'm ed Corey than on Wall Street Bloomberg Radios on
Speaker 1: the air from San Francisco to New York, London to
Speaker 1: Hong Kong. Let's check in with our global news team
Speaker 1: for some of the top stories heard on our three
Speaker 1: hundred affiliate radio stations around the world. I'm Steve Potas
Speaker 1: cat on ten ten Wins in New York. We're talking
Speaker 1: about water Brothers Discovery looking to resume a deal with
Speaker 1: Amazon to get it to distribute the HBO Max streaming
Speaker 1: Sir m Bornitanahwan ktr H in Houston. The International Energy
Speaker 1: Agency says to squeeze on energy supplies may get worse.
Speaker 1: Nice Mateo and on came X and St. Louis, I'll
Speaker 1: be reporting on an electric vehicle maker tightening its belt
Speaker 1: on Kallen had called BlueBag Davy dish Do in London.
Speaker 1: We've been reporting on warnings from the International Energy Agency
Speaker 1: that the worst of the energy crisis maybe yet to come.
Speaker 1: I mid Cory on w w J in Detroit. I'm
Speaker 1: reporting Ribby and Automotive planned hundreds of lay off and
Speaker 1: those are some of the stories our hundred Bloomberg journalist
Speaker 1: and analysts are working on this morning around the world.
Speaker 1: It's five thirty nine on Wall Street. The following is
Speaker 1: an editorial from Bloomberg Opinion. This editorial was written by
Speaker 1: the Bloomberg Editorial Board. Sympathy and outrage over last week's
Speaker 1: shocking assassination of former Japanese Prime Minister Shinzo Abe contributed
Speaker 1: to the sweeping victory of his Liberal Democratic Party in
Speaker 1: recent UPPERA House elections. However much he owes the former
Speaker 1: prime minister, though, Japan's current leader, Fumio Kashita, must now
Speaker 1: find his own path. That will mean, for example, fleshing
Speaker 1: out his own economic vision for Japan. Kashida has called
Speaker 1: for a fairer and more inclusive new form of capitalism
Speaker 1: that can tackle inequality in contrast to Abe's focus on growth. Ultimately,
Speaker 1: Kasheda will need to implement tough reforms that even AB
Speaker 1: couldn't manage, including making changes to Japan's rigid seniority based
Speaker 1: employment system. Japan would not be the country it is
Speaker 1: today had it not been for Abe's vision and drive.
Speaker 1: Kashita can best respect Abe's legacy by forging his own.
Speaker 1: The editorial was written by the Bloomberg Editorial Board. For
Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash
Speaker 1: opinion or ope I n go on the Bloomberg terminal.
Speaker 1: This has been Bloomberg Opinion. Listen for Bloomberg opinion and
Speaker 1: editorials every weekday. At this time, terminal customers can read
Speaker 1: more at O P I n go. SMP futures down
Speaker 1: twenty six points, Stown futures down two eleven, NASAC futures
Speaker 1: down seventy six points ten. Your treasury yield two point
Speaker 1: two year close to three percent. This is Bloomberg Bloomberg
Speaker 1: eleven three oh weather partly sunny today. We could see
Speaker 1: some strong thunderstorms this afternoon on our way near ninety degrees,
Speaker 1: Sunshine near ninety Tomorrow upr eighties and chance for an
Speaker 1: afternoon shower Thursday. Right now seventy in Central Park markets,
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg
Speaker 1: Quick Take, He's a Bloomberg Business Flash and I'm Karen Moscow.
Speaker 1: You must dock. Index future is falling as a dollar
Speaker 1: and sovereign bonnds rise, a pattern highlighting pervation of unease
Speaker 1: about the economic outlook amid high inflation and China's struggles
Speaker 1: with COVID. They checked the markets every fifteen minutes throughout
Speaker 1: the trading day on Bloomberg. Right now, SMP futures are
Speaker 1: done about twenty nine points down, futures down two hundred
Speaker 1: thirty four and NASDAG futures down seventies seven. The decks
Speaker 1: in Germany is down nine tenths of upper cent. The
Speaker 1: ten year treasury of twenty thirty seconds yield two point
Speaker 1: nine one percent. The yield on the two year is
Speaker 1: at three percent. NIMEX screwed oil is down two and
Speaker 1: a half percent on two dollars fifty seven cents at
Speaker 1: a hundred one dollars fifty two cents in barrel comes
Speaker 1: gold is little change at seventeen thirty two twenty announced
Speaker 1: the euro right at one point zero zero zero four
Speaker 1: against the dollar. British found one point one one eight
Speaker 1: and the en one thirty seven point one six Bitcoin
Speaker 1: this morning down more than four percent and nineteen thousand,
Speaker 1: five hundred sixty dollars. That's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more unless going on around the world.
Speaker 1: Michael Karen, thank you very much. The January six Panel
Speaker 1: holds another public hearing today. It is expected to explore
Speaker 1: whether extremist groups worked in coordination with the White House
Speaker 1: allies in an attempt to overthrow the result of the
Speaker 1: presidential election through a political coup and the mobilization of
Speaker 1: an armed, violent mob. President Biden is set to meet
Speaker 1: with Mexico's president at the White House today Later. President
Speaker 1: Biden is looking for cheaper oil prices on his Middle
Speaker 1: East trip this week, which will include a stop in
Speaker 1: Saudi Arabia. In baseball, the Mets one, the Red Sox,
Speaker 1: A's and Giants lost Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Take, powered by
Speaker 1: more than seven hundred journalists and analysts in more than
Speaker 1: one countries. I'm Michael bar and this is Bloomberg. Nathan
Speaker 1: all right, Michael, thank you for coming up to five
Speaker 1: forty nine on Wall Street Live from the Bloomberg Interactive
Speaker 1: Brokers studios. This is Bloomberg Daybreak on what looks like
Speaker 1: a risk off Tuesday morning. We are joined now by
Speaker 1: Ivy Jack, head of equity research at north Star Asset Management. Ivy,
Speaker 1: good morning, Futures continue to fall and we're watching for
Speaker 1: euro dollar parody this morning. What is your read on
Speaker 1: this market? Thank you, Nathan. Um. I think like everyone else,
Speaker 1: we are waiting to see what happens. There are a
Speaker 1: lot of puts and takes going on. I mean, I
Speaker 1: will say first of all, Um, as I'm thinking about
Speaker 1: going into earning season, I'm mindful that pandemic is still
Speaker 1: with us. UM. This will be the first set of
Speaker 1: results where I think we have a lot of the
Speaker 1: bad news that we've been anticipating. We will get a
Speaker 1: chance to really see how it impacts company earnings and
Speaker 1: whether or not margins are really going to come under pressure.
Speaker 1: So UM, I'm looking forward to starting off the week
Speaker 1: with the banks reporting this week to see, you know,
Speaker 1: what they're saying about consumers, what lending looks like. UM.
Speaker 1: But I think this is going to be a very
Speaker 1: telling reporter for all of us is there a concern
Speaker 1: for you that there's more bad news to come. I mean,
Speaker 1: we've heard from the head of the International Energy Agency
Speaker 1: saying the worst the energy crunch isn't over. Well. The
Speaker 1: White House is saying that the inflation data we're gonna
Speaker 1: get tomorrow is backward looking. They're they're hoping for more optimism.
Speaker 1: I think this is the first quarter where we're going
Speaker 1: to begin to see, uh, the full effect of what
Speaker 1: has happened with the war in Ukraine, the impact of
Speaker 1: higher energy prices, how it kind of has worked its
Speaker 1: way through the system. UM. I also think we're now
Speaker 1: beginning to see that demand is cooling as well. Um,
Speaker 1: you know, we have higher mortgage interest rates. So again,
Speaker 1: this is the first quarter where a lot of the
Speaker 1: bad news that we were anticipating we should start to
Speaker 1: actually see, uh in the results of corporate earning. So
Speaker 1: I think that's what really makes this quarter unique compared
Speaker 1: to pass quarters, is we'll get to see the impact
Speaker 1: and also to get to see, if you know, margins
Speaker 1: are impacted. I will say I was really uh surprised
Speaker 1: that companies were still able to pass on a lot
Speaker 1: of higher costs to consumers. I don't know if they're
Speaker 1: going to be able to do that this quarter. So, um,
Speaker 1: there's still a lot for us to learn. Are you
Speaker 1: looking for pretty strong downward revisions to the outlook for
Speaker 1: profit margins? Then I definitely am. And I mean I
Speaker 1: think I've started well, at least for the companies that
Speaker 1: I currently cover and I'm looking at. I've started seeing
Speaker 1: it already that earnings are coming down, and I think
Speaker 1: they're gonna have to come down more than what we're
Speaker 1: already seeing. What kind of catalysts do you think this
Speaker 1: week's inflation data is going to be for markets? Wow? Catalysts.
Speaker 1: I think it's going to give honestly the fan more
Speaker 1: comfort to continue raising interest rates. Um. That's something else
Speaker 1: that I think I'm not really sure that has been
Speaker 1: fully appreciated the impact that that is going to have
Speaker 1: on at the markets. Um. So I really think, like
Speaker 1: I said, terms of catalysts, they're gonna be a lot
Speaker 1: of things that probably come out that we haven't even
Speaker 1: anticipated because there there's so many things that are going
Speaker 1: on and coming together in this particular moment in time.
Speaker 1: So when we hear from someone like Kansas City Fed
Speaker 1: President Esther George, who was warning that raising rates too
Speaker 1: fast could force the FED or cause the FED to Oversteerum,
Speaker 1: you're thinking that that doesn't hold much weight with the
Speaker 1: rest of the committee. Oh, I mean I think right now, look,
Speaker 1: we just got the job to report. You know, we
Speaker 1: got three hundred and seventy thousand jobs. That's still pretty strong. Um.
Speaker 1: So I think that in and of itself tells us
Speaker 1: that the labor market is holding up pretty well. And
Speaker 1: I think if you're the FED, you want to try
Speaker 1: to get this done as soon as possible. So you're
Speaker 1: gonna try to raise interest raise as much as you can,
Speaker 1: as fast as you can, so that you can back off.
Speaker 1: So with that being said, Um, and on top of that,
Speaker 1: I'm expecting for inflation to come out ye higher than
Speaker 1: it was last month, and so I think again that
Speaker 1: is going to allow the FIT to get a little
Speaker 1: bit more aggressive. So um, right now, I think, you know,
Speaker 1: we should be bracing ourselves for higher interest rates, perhaps
Speaker 1: higher than we anticipated. And on top of that, I think,
Speaker 1: you know, a labor market that has held up really
Speaker 1: well gives the FIT ammunition to keep moving forward. Thanks
Speaker 1: for this, Ivy, great having gone with us this morning.
Speaker 1: Ivy jack Head of equity research at north Start Asset Management. Karen.
Speaker 1: All right, Nathan, thank you. It is five fifty three
Speaker 1: on Wall Street, and now we go to a story
Speaker 1: we are watching this morning, brought to you by American
Speaker 1: Arbitration Association. Business disputes are inevitable, resolve faster with the
Speaker 1: American Arbitration Association, the global leader in alternative dispute resolution
Speaker 1: for over ninety years. More at a d R dot org.
Speaker 1: Now here's a legal story we're following with Elon Musk
Speaker 1: may have decided he doesn't want to buy Twitter after all,
Speaker 1: but he can't just walk away from the forty four
Speaker 1: billion dollar deal. Twitter said it will take Mustachord to
Speaker 1: compel him to go through with the agreement, and if
Speaker 1: history is a god, the odds are in Twitter's favor.
Speaker 1: For more, Bloomberg scu in Grasso speaks to Eric Tallely,
Speaker 1: a professor at Columbia Law School. Eric, I believe a
Speaker 1: few weeks ago you predicted that Musk would try to
Speaker 1: walk away from the deal. Yeah, he was making sounds
Speaker 1: that he was trying to figure out a way to
Speaker 1: walk away from the deal, and most of the behavior
Speaker 1: that has been publicly observable was completely consistent with it.
Speaker 1: The theory about you know, his concern over spam or
Speaker 1: body accounts set into motion what evidently has been a
Speaker 1: back and forth in which Musk and his representatives had
Speaker 1: made demands for more and more information, and at some
Speaker 1: point Twitter must have said, no, that's enough information, We're
Speaker 1: not going to give you anymore, or not going to
Speaker 1: give you information along certain lines that you've requested, and that,
Speaker 1: in part seems to have precipitated the letter that his
Speaker 1: lawyer filed on Friday. And so that behavior, in some
Speaker 1: ways is what you would expect from someone who is
Speaker 1: trying to figure out a way to walk away from
Speaker 1: a deal. And you know, there was a part of
Speaker 1: the merger agreement that he is quite clearly now trying
Speaker 1: to seize upon that requires Twitter to comply with the
Speaker 1: reasonable requests to give information to Musk and his representatives,
Speaker 1: and if they unreasonably refused to give him access to
Speaker 1: that information, that could constitute a breach of the contract.
Speaker 1: So I think that is effectively the course that most people,
Speaker 1: myself included, thought he was setting himself on, and that
Speaker 1: appears to have been correct. So Musk is claiming that
Speaker 1: Twitter's failure to hand over specifics on the number of
Speaker 1: bots amounts to a material adverse effect under the contract.
Speaker 1: But haven't Delaware courts been reluctant to find that and
Speaker 1: to allow people to walk away from mergers. Neither the
Speaker 1: Delaware courts nor these provisions themselves are incredibly generous about
Speaker 1: giving people the ability to walk away. Until a couple
Speaker 1: of years ago. For example, although many buyers had tried
Speaker 1: to use this language to walk away from a deal,
Speaker 1: none had succeeded. Now one finally succeeded a couple of
Speaker 1: years ago, But even in that case, it was a
Speaker 1: fairly egregious form of fraud. And so the odds just
Speaker 1: from a case law perspective, just don't favor Mosque. And
Speaker 1: based on the language of the deal and what we
Speaker 1: know that's in the factual record thus far, I think
Speaker 1: Twitter would have a very good chance at getting a
Speaker 1: specific performance decree, which is not just in order to
Speaker 1: pay damages, but in order for Elon Musk to close
Speaker 1: the transaction. And that's Eric tale Or, professor at Columbia
Speaker 1: Law School, speaking with the Bloomberg June Grosso. Catch more
Speaker 1: of that interview, plus analysis of the latest legal news
Speaker 1: by subscribing to the Bloomberg Law Podcast or downloading the
Speaker 1: show at Bloomberg dot com slash podcast. Attorneys can find
Speaker 1: exceptional legal research and business development tools at Bloomberg Law
Speaker 1: dot com and on the Bloomberg terminal at b law Go.
Speaker 1: And futures this morning falling with SMP futures down about
Speaker 1: thirty points, now futures down two hundred forty one and
Speaker 1: NASDAG futures down. One ten year Treasury up twenty one
Speaker 1: thirty seconds held two point nine one percent, and they
Speaker 1: yield on the two year two point nine nine percent,
Speaker 1: and nim X screwed oil down two point four percent.
Speaker 1: It's aid one d one dollars fifty five cents of
Speaker 1: barrel to get more on the markets straight ahead on
Speaker 1: Bloomberg Daybreak and check on all the business headlines and
Speaker 1: the news you need to start your day as well.
Speaker 1: This is Bloomberg