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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today, care.

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Speaker 3: And we begin with the latest sun efforts to end

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Speaker 3: the war in Ukraine. Russian President Vladimir Putin has refused

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Speaker 3: President Trump's request for a thirty day ceasefire. The Kremlin

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Speaker 3: says Putin agreed only to decrease attacks on Ukraine's energy infrastructure,

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Speaker 3: while imposing several conditions, including suspending US arms and intelligence

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Speaker 3: support for Ukraine. However, the White House readout says Trump

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Speaker 3: and Putin agreed to an energy and infrastructure ceasefire.

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Speaker 1: Trump spoke last night with Fox News.

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Speaker 4: Well, you have a situation. We have a lot of

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Speaker 4: guns pointing at each other foolishly because it would have

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Speaker 4: never happened. Ibout, we're president. That was not a war

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Speaker 4: that was supposed to happen, and it did happen. So

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Speaker 4: that's where we are, and right now you have a

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Speaker 4: lot of guns pointing at each other, and the ceasefire

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Speaker 4: without going a little bit for there would have been tough.

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Speaker 1: Although Ukraine was the focus of the call.

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Speaker 3: The White House also says President's Trump and Putin discussed

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Speaker 3: improving bilateral ties, including quote enormous economic deals and geopolitical

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Speaker 3: stability when peace has been achieved.

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Speaker 2: Well, Nathan, there's plenty of reaction around the world to

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Speaker 2: the Trump Putin phone call. Retired Lieutenant General Ben Hodges,

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Speaker 2: the former commanding General of US Army Europe, tells Bloomberg's

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Speaker 2: Balance of Power that he was expecting the worst.

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Speaker 5: I was expecting that we were going to hear that

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Speaker 5: the President had agreed to recognize Russian occupation of Crimea,

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Speaker 5: agree to Russian demands for elections in Ukraine, and things

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Speaker 5: like that. So the fact that we didn't hear those

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Speaker 5: is is better than if.

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Speaker 2: We had and retired to Lieutenant General Ben Hodges. To

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Speaker 2: hear the full conversation, download the Bloomberg Balance of Power

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Speaker 2: podcast or watch it on the Bloomberg podcast page on

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Speaker 2: YouTube and Karen.

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Speaker 3: President Trump is also weighing in on his trade war

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Speaker 3: with Canada, and in his interview with Fox News host

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Speaker 3: Laura Ingram, of.

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Speaker 4: The nastiest countries to deal with this Canada. The people

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Speaker 4: that now this was Trudeau, the people that good old

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Speaker 4: Justin I call him Governor Trudeau. His people were nasty

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Speaker 4: and they weren't telling the truth. They never told the truth.

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Speaker 3: Still, the President says he'd rather deal with Justin Trudeau's

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Speaker 3: Liberal Party and the new Prime Minister Mark Carney to.

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Speaker 1: Resolve his dispute with Canada.

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Speaker 3: Trump also took a job at the Conservative who will

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Speaker 3: be running against Carney in the next election. He says,

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Speaker 3: Pierre Poulievra is quote stupidly no friend of mine.

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Speaker 2: Well, Nathan. President Trump may be facing a new dispute

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Speaker 2: with Supreme Court Chief Justice John Roberts. In an extraordinary statement,

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Speaker 2: Roberts said it's not appropriate to call for impeaching federal

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Speaker 2: judges over their rulings. That's after President Trump posted on

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Speaker 2: truth social that the judge who ruled against him on

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Speaker 2: deporting alleged Venezuelan gang members should be impeached. Bloomberg Law

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Speaker 2: host John Grosso says Judge James Bohasburg is not the

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Speaker 2: only one under this kind of pressure.

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Speaker 6: Impeachment has already been filed against one judge who made

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Speaker 6: a ruling in the Doge case over the Treasury data, and.

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Speaker 1: So with more calls for this, I think he's just.

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Speaker 6: Trying to step out there and say this is not

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Speaker 6: the way to go, and it's not the way to go.

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Speaker 2: As Bloomberg Law host Don Grosso, president Trump is not

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Speaker 2: backing down after Robert's state Many Tollfox News. Many people

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Speaker 2: have called for Judge of boas Burg to be impeached, and.

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Speaker 3: Later today Karen President Trump will meet the chief executives

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Speaker 3: of more than a dozen oil companies. Industry leaders say

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Speaker 3: they have plenty of reasons to give thanks to the President.

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Speaker 3: He's an unabashed champion of US oil and gas production

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Speaker 3: and has vowed to unleash the industry's potential. However, the

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Speaker 3: President's threatened tariffs are stoking industry concerns about potential economic declines.

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Speaker 2: Well Nathan, political turmoil is royaling markets in Turkey, The

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Speaker 2: lira and stocks are sinking. In fact, at one point,

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Speaker 2: the lera plunged more than ten percent. Investors are dumping

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Speaker 2: the nation's assets after the arrest of a key rival

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Speaker 2: to President erdiwan Is Denbul's mayor, akram Ima Moglu, has

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Speaker 2: been detained a day after Turkish authorities revoked his university

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Speaker 2: diploma in a move that could bar him from challenging

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Speaker 2: Air Towan in the next presidential election.

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Speaker 3: Well, you're in the US Karen futures are moving just

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Speaker 3: a bit higher Following another day of losses on Wall Street.

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Speaker 3: The S and P five hundred fell one point one

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Speaker 3: percent the Nasdaq one hundred slid one point seven percent

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Speaker 3: as megacap tech stocks led the market down. Stuart Kaiser,

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Speaker 3: head of US equity trading strategy at City, says there

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Speaker 3: may be more pain ahead.

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Speaker 1: Is there more to come?

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Speaker 7: I mean, I think if you're if you believe that

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Speaker 7: a lot of this was driven by policy out of

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Speaker 7: Washington and the key administrators down there are telling you

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Speaker 7: basically to hedge and that there is more to come,

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Speaker 7: and that they're willing to tolerate some short term pain

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Speaker 7: for these longer term structural reforms, then yeah, it does

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Speaker 7: feel like there's potentially more more behind this. It's hard

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Speaker 7: to think that the headlines that have driven this are finished.

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Speaker 3: City Stuart Kaiser says, options traders are pricing in a

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Speaker 3: one point two percent move in the S and P

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Speaker 3: five hundred either way following today FED decision and.

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Speaker 2: That decision, Nathan, but the backdrop of all of the

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Speaker 2: geopolitical concerns comes. At two pm Walls Street time, we

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Speaker 2: get a preview with Bloomberg's and Michael McKee.

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Speaker 8: Expect an underwhelming FED meeting today. No change in the

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Speaker 8: benchmark interest rate, no change in the dot plot, and

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Speaker 8: no major change in policymakers economic forecasts. It's tariffs, of course.

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Speaker 8: The administration doesn't plan to reveal its import tax program

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Speaker 8: until April second. Once it has details, the Fed can

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Speaker 8: start modeling impacts on the economy. But with inflation sticky

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Speaker 8: and the labor market steady, there's not much officials can

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Speaker 8: or should do right now. Michael McKee, Bloomberg Radio.

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Speaker 2: All right, Mike, thank you for full FED coverage. Be

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Speaker 2: sure to catch Bloomberg surveillance. The Fed decides special It

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Speaker 2: starts this afternoon at one thirty pm Wall Street Time

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Speaker 2: on Bloomberg Radio, Bloomberg Television, and the Bloomberg podcast page

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Speaker 2: on YouTube.

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Speaker 1: Thank Careen, we got a policy decision out of Asia.

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Speaker 3: Overnight, the Bank of Japan kept its rates steady, signaling

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Speaker 3: concern about the impact of trade tension and sun the

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Speaker 3: global economy.

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Speaker 2: Well Nathan, the company involved in the long running litigation

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Speaker 2: over Oxyconton's role in the deadly opioid epidemic, has filed

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Speaker 2: a new bankruptcy case and we get the very latest.

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Speaker 2: It's Bloomberg's John Tucker, John, good morning, Good.

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Speaker 9: Morning, Karen. This is a new bankruptcy plan from the

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Speaker 9: already bankrupt Purdue Pharma. It could be a major step

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Speaker 9: toward finalizing a seven point four billion dollar opioid settlement.

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Speaker 9: It's aimed at, once and for all, settling thousands of

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Speaker 9: lawsuits that claim Purdue Pharmer's pain medication caused the widespread

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Speaker 9: opioid addiction crisis. It comes after the Supreme Court last

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Speaker 9: year next a previous attempt at a settlement that would

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Speaker 9: have given Purdue's owners, the wealthy Sackler family, civil immunity.

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Speaker 9: Under this plan, a new public benefit company will be

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Speaker 9: created after Purdue is dissolved, and the Sackler family will

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Speaker 9: no longer have ownership interest. You know, Yorkome, John Tucker,

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Speaker 9: Bloomberg Radio.

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Speaker 1: All right, John, thank you.

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Speaker 3: Finally, two NASA astronauts who been stuck on the International

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Speaker 3: Space Station for nine months have returned home.

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Speaker 1: And splashdown Crew nine back on Earth. SpaceX.

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Speaker 3: Mission control caught the moment, Butch Wilmore and Sunny Williams

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Speaker 3: landed off the Florida coast and a dragon capsule and

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Speaker 3: remarks heard here on Bloomberg. NASA manager Steve Stitch says

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Speaker 3: the return trip could not have gone better.

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Speaker 1: The cruise to one great.

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Speaker 7: You know, they'll spend a little time on the recovery

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Speaker 7: ship getting checked out, making sure that they're healthy and

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Speaker 7: ready to go, and then eventually they'll make their way

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Speaker 7: back to Houston.

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Speaker 3: The splicetown ends a long saga for Wilmore and Williams.

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Speaker 3: It began last June when the pair were supposed to

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Speaker 3: stay on the ISS about a week. An issue with

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Speaker 3: their Boeing vehicle kept them in orbit till last Sunday night.

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Speaker 2: It is time now for a look at some of

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Speaker 2: the other stories making news in New York and around

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Speaker 2: the world, and for that we're joined by Bloomberg's Michael

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Speaker 2: Barr Michael good Morning.

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Speaker 10: Good Morning care And A federal judge ruled that the

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Speaker 10: dismantling of the US Agency for International Development likely violated

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Speaker 10: the Constitution in an order that blocked Elon Musk's Department

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Speaker 10: of Government Efficiency for making further cuts to the agency.

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Speaker 10: The judge ordered the Trump administration to restore email and

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Speaker 10: computer access to all employees of USAID, including those who

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Speaker 10: were placed on administrative leave. The lawsuits singled out Musk

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Speaker 10: as a defendant covered by the preluminary injunction. Unredacted documents

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Speaker 10: related to the nineteen sixty three assassination of President John F.

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Speaker 10: Kennedy had been released following an order by President Trump

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Speaker 10: shortly after he took office. The documents were posted on

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Speaker 10: the website of the US National Archives and Records Administration

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Speaker 10: last night. University of Virginia Center for Politics Director Larry

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Speaker 10: Sabado says it will take a long time to go

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Speaker 10: through the new material.

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Speaker 3: They're going to be surprises in there, but I just

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Speaker 3: don't think there are going to be that many surprises

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Speaker 3: about JFK's assassination.

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Speaker 10: There are also never before seen memos outlining how the

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Speaker 10: CIA tapped phones in the Mexico City embassies visited it

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Speaker 10: by Lee Harvey Oswall months before the assassination. Senate Minority

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Speaker 10: Leader Chuck Schumer is responding to the criticism from fellow

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Speaker 10: Democrats that he cave to Republicans and voted for a

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Speaker 10: GOP bill that would keep the government open through the

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Speaker 10: end of September. Schumer says if the bill didn't pass,

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Speaker 10: a government shutdown would have given President Trump and the

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Speaker 10: rest of the executive branch unchecked power to slash even

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Speaker 10: more federal jobs and programs. Schumer on ABC's the view,

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Speaker 10: if we ended.

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Speaker 11: Up a shutdown three weeks from now, people would come

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Speaker 11: to me and they'd say, they just cut off my Medicaid,

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Speaker 11: they just got rid of my veterans benefits. Stop it,

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Speaker 11: And I say we can't we in a shutdown, and

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Speaker 11: then they'd say to me, why did you let the

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Speaker 11: shutdown happen.

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Speaker 10: Senator Schumer also says President Trump's acknowledgment of his vote

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Speaker 10: online was trolling. Finally, former Governor Andrew Cuomo raised over

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Speaker 10: one point five million dollars from twenty seven hundred donors

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Speaker 10: for the New York City mayor's primary race. Polls show

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Speaker 10: him leading heading into the June t twenty fourth primary.

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Speaker 10: Global News twenty four hours a day and whenever you

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Speaker 10: want it with Bloomberg News Now. I'm Michael Barr, and

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Speaker 10: this is Bloomberg Karen.

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Speaker 2: All right, Michael Barr, thank you time now for the

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Speaker 2: Bloombergy Sports update, brought to you by try State Oudie.

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Speaker 2: Here's John stash Hour, John, good morning.

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Speaker 10: Good morning, Garon.

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Speaker 12: Over the next three weeks, there'll be sixty seven and

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Speaker 12: CUBAA tournament games.

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Speaker 10: The first was in Dayton, Ohio.

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Speaker 12: It was Alabama State out of the Swack against Saint

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Speaker 12: Francis of Pennsylvania, who won the nec had a sub

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Speaker 12: five hundred record. The game not decided until the final second.

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Speaker 9: They have to go ninety four feet.

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Speaker 3: Simpson will inbound under his own basketball, but Ato.

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Speaker 1: Pressures the ball. He throws a baseball right.

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Speaker 9: Half past, arking to the bar Free provide exclusion to

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Speaker 9: the basket Bucks suber Totos tucking the call.

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Speaker 12: O bar Bucks ca Babama State comer on westban one

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Speaker 12: march Man. This Bama State wins seventy to sixty eight.

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Speaker 12: It's reward a game tomorrow. It's the Attorney's top overall seed Auburn.

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Speaker 12: Many criticized the committee for including North Carolina Tarrios looked awfully,

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Speaker 12: deserving a ninety five sixty eight rout of San Diego State.

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Speaker 12: The White Plains native RJ. Davis scored twenty six. He

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Speaker 12: was six for six on three pointers. Tarriols will play

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Speaker 12: Ole Miss on Friday. Two more games in Dayton Tonight

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Speaker 12: at the Garden Artemi Panarans scored a minute thirteen in

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Speaker 12: his thirtieth goal. The Rangers failed to score again, lost

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Speaker 12: to Calgary two to one, and when Montreal won, the

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Speaker 12: Canadians moved ahead for the last playoff spot in the East.

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Speaker 12: Montreal's played two fewer games. Islanders a four to two

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Speaker 12: win at Pittsburgh. The Capitols beat Detroit four to one.

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Speaker 12: The Celtics gave Jason Tatum and Jalen Brown the night off,

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Speaker 12: still beat the Nets one O four ninety six.

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Speaker 10: That's Boston's fiftieth.

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Speaker 12: When the Warriors gave Steph Curry the night off, they

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Speaker 12: still beat Milwaukee one O four ninety three. Since winning

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Speaker 12: sixteen in a row, back to back losses for Cleveland

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Speaker 12: beaten by the Clippers, the knickser in San Antonio tonight,

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Speaker 12: Dodgers and Cubs getting ready to play again at the

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Speaker 12: Tokyo Dome. LA won yesterday four to one, holding the

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Speaker 12: Cubs to three hits with Garrett Cole out. Max Free

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Speaker 12: the new year nikee eighth in Tampa against the Red Sox,

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Speaker 12: Free through four to third score is Senians. Brandon Graham,

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Speaker 12: retiring after fifteen seasons in Philadelphia, played more games than

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Speaker 12: anyone in Eagles history. John Staishaw or Bloomberg Sports Karen

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Speaker 12: Nathan Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and.

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Speaker 3: Around the world on Bloomberg dot Com and the Bloomberg

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Speaker 3: Business app.

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Speaker 1: This is Bloomberg Daybreak. Good morning. I'm Nathan Hager.

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Speaker 3: President Donald Trump is casting it as a win to

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Speaker 3: have held a phone call with Russian President Vladimir Putin.

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Speaker 3: He did not get the thirty day ceasefire that he'd

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Speaker 3: agreed to with Ukraine, but the President says the concessions

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Speaker 3: Putin did make are a good first step.

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Speaker 4: You have a lot of guns pointing at each other,

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Speaker 4: and the ceasefire without going a little bit further, it

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Speaker 4: would have been tough. Russia has the advantage, as you know,

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Speaker 4: they have encircled about two five hundred soldiers. They're nicely encircled,

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Speaker 4: and that's not good.

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Speaker 3: President Trump speaking with Fox News host Laura Ingram last night.

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Speaker 3: This morning, we're speaking with raw Lind Mathis and Bloomberg's

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Speaker 3: News director for Europe, the Middle East and Africa. Good morning, Roz. So,

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Speaker 3: no thirty day ceasefire from President Putin. Where do things

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Speaker 3: stand now?

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Speaker 13: Well, that's right, So Donald Trump did not get Vladimir

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Speaker 13: Putin to commit to a full thirty day seas far.

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Speaker 13: What he seems to have agreed to is potentially to

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Speaker 13: stop targeting Ukrainian energy infrastructure for thirty days and to

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Speaker 13: say that he would agree to that if Ukraine did

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Speaker 13: the same. But we don't have a lot of details

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Speaker 13: even about that. We know that Russian and US officials

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Speaker 13: are due to meet in Saudi Arabia again starting today

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Speaker 13: and there'll be more conversations around some of those details,

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Speaker 13: but it's a pretty incremental step in the end. I mean,

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Speaker 13: obviously Russia has had a lot of success targeting energy

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Speaker 13: infrastructure in Ukraine that's been very damaging for Ukraine, especially

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Speaker 13: through things like the winter months, but equally it's nowhere

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Speaker 13: near the full far that Donald Trump is looking for.

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Speaker 13: So it seems to be that Putin gave Trump a

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Speaker 13: little bit but didn't give him a lot. And it's

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Speaker 13: very clear that Vladimir Putin has a lot of other

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Speaker 13: demands in all of this and conditions that he's going

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Speaker 13: to what met in terms of agreeing to a full

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Speaker 13: cease fire, and perhaps he would only do that if

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Speaker 13: he had a meeting with Donald Trump face to face.

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Speaker 3: Is there concern among European allies that President Trump could

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Speaker 3: give in two more of President Putin's demands.

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Speaker 13: Well, something that's been the concern for quite a while,

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Speaker 13: and indications from the US in fact that Trump would

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Speaker 13: be willing to do that, just the way that he

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Speaker 13: talks about territory and he refers to things like assets

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Speaker 13: when it comes to Ukraine, including a key nuclear power plan,

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Speaker 13: and indicating that he's not averse to listening to Vladimir

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Speaker 13: Putin and his demands there, So around territory, around the

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Speaker 13: nuclear power plant, perhaps even recognizing Crimea as part of Russia.

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Speaker 13: Of course, Vladimir Putin annexed Crimea well before he went

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Speaker 13: into the rest of Ukraine. So a lot of concern

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Speaker 13: that in order to get a deal, that Donald Trump

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Speaker 13: will be willing to listen to some of Vladimir Putin's demands.

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Speaker 13: And then how can Europe and Ukraine, most importantly of all,

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Speaker 13: get in the conversation on that or is this really

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Speaker 13: the US and Russia agreeing to broad parameters and then

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Speaker 13: essentially presenting them to Ukraine and to Europe as a

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Speaker 13: fate to company. So the question is can they get

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Speaker 13: a set at the table. It just doesn't seem that

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Speaker 13: Donald Trump is interested in Europe having one.

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Speaker 3: So as the negotiations potentially continue between the US, Ukraine

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Speaker 3: and Russia, we have new political turmoil in Turkey. What

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Speaker 3: is happening there this morning?

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Speaker 13: Well, that's right. So there's been a bit of a

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Speaker 13: crackdown on the opposition that's been going on for some weeks,

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Speaker 13: if not months in Turkey, and it's escalating quickly today though,

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Speaker 13: because we see that Turkish authorities have detained President Erduan's

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Speaker 13: dominant rival. This is the mayor of Istanbul ekrem Imamolu,

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Speaker 13: who's really a very popular politician in Turkey and seen

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Speaker 13: as the most likely contender against Duwan in the next election,

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Speaker 13: which is due in twenty twenty eight. And so he's

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Speaker 13: been detained today. That the pretext for that is obviously

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Speaker 13: that he didn't have the qualifications to run for president

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Speaker 13: in the next election in twenty twenty eight, that his

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Speaker 13: qualifications for a high degree void, and there's also part

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Speaker 13: of a broader soup of inappropriate actions inside Turkey, which

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Speaker 13: is something that he denies. But this would all rule

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Speaker 13: him out from being nominated as the opposition candidate. And

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Speaker 13: you can see the impact on the markets in Turkey

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Speaker 13: today as a result.

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