WEBVTT - Bloomberg Daybreak: March 18, 2022 - Hour 2 (Radio) 0:00:01.240 --> 0:00:04.320 Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 0:00:04.400 --> 0:00:08.000 Daybreak for Friday, March eighteen two. Coming up this shower, 0:00:08.200 --> 0:00:10.840 President vite And speaks with China's shi Jin King in 0:00:10.880 --> 0:00:13.640 an effort to help end the war in Ukraine. Pendergon 0:00:13.720 --> 0:00:16.400 Morris that Russia may threaten to use nuclear weapons if 0:00:16.400 --> 0:00:19.440 it's invasion of Ukraine is stalled. Investors brace for more 0:00:19.520 --> 0:00:22.119 volatility as the trading week comes to a close and 0:00:22.200 --> 0:00:25.760 the DIRNA requests FDA approval for a fourth COVID shot. 0:00:25.880 --> 0:00:28.800 Former New York Governor Clomo says he's opened to running 0:00:28.840 --> 0:00:31.400 for his old job. Plus, Sarah Palin is appealing or 0:00:31.440 --> 0:00:34.160 loss in the defamation suit against The New York Times' 0:00:34.240 --> 0:00:37.320 Michael Laaren. More ahead, I'm John stag Daron sports Islanders, 0:00:37.320 --> 0:00:40.120 stopped the Rangers at the Garden and St. Peter's stunned 0:00:40.240 --> 0:00:44.640 Kentucky in the n C Double Day Tournament. That's all 0:00:44.680 --> 0:00:48.199 straight ahead on Bloomberg day Break on Bloomberg. You live 0:00:48.280 --> 0:00:52.880 in Trio, New York, Bloomberg one, Washington, d C, Bloomberg 0:00:52.880 --> 0:00:56.640 one O six one, Boston, Bloomberg nine sixties, San Francisco. 0:00:57.000 --> 0:01:00.200 Sirius x M one nineteen and around the world old 0:01:00.240 --> 0:01:03.960 on Bloomberg Radio dot com and via the Bloomberg Business. 0:01:07.400 --> 0:01:10.680 Good morning. I'm Nathan Hager and I'm Karen Moscow, and 0:01:10.760 --> 0:01:13.200 we are coming up to six oh one on Wall Street. 0:01:13.240 --> 0:01:15.800 Futures are lower this morning, and we checked the markets 0:01:15.840 --> 0:01:19.039 every fifteen minutes throughout the trading day. On Bloomberg. Right now, 0:01:19.160 --> 0:01:21.880 SNP futures are down twenty five points down, futures down 0:01:21.920 --> 0:01:25.480 one sixty seven and NAS day features down to the 0:01:25.480 --> 0:01:28.479 tenure Treasury at five thirty seconds yield two point one 0:01:28.520 --> 0:01:30.679 five percent, the yield down the two year one point 0:01:30.760 --> 0:01:33.920 nine zero percent. Nine next screwed oil of one point 0:01:33.959 --> 0:01:36.240 two percent of a dollar twenty nine and a hundred 0:01:36.240 --> 0:01:39.280 four dollars twenty seven cents of barrel Comic school is 0:01:39.280 --> 0:01:41.399 down a half percent or ten dollars twenty cents at 0:01:41.480 --> 0:01:44.800 ninety eight announced and the euro one point one zero 0:01:44.880 --> 0:01:47.400 five eight against the dollar. Nathan, all right, Karen, we'll 0:01:47.480 --> 0:01:49.160 have more of the markets in a minute. But this 0:01:49.240 --> 0:01:52.320 could be a pivotal day in Russia's war with Ukraine. 0:01:52.640 --> 0:01:55.200 In just a few hours, President Biden holds his first 0:01:55.240 --> 0:01:58.280 call in months with one of Vladimir Putin's closest allies, 0:01:58.600 --> 0:02:01.840 Chinese president she j in Ping. It comes as Russia's 0:02:01.880 --> 0:02:05.720 forces appear bogged down outside Ukraine's capital city, Kiev. We 0:02:05.800 --> 0:02:09.680 get more from Bloomberg's Amy Morris in our newsroom in Washington. 0:02:10.080 --> 0:02:13.480 While the UK Ministry of Defense believes Russia's invasion has 0:02:13.480 --> 0:02:16.400 stalled on all fronts, that has not stopped the intense 0:02:16.440 --> 0:02:20.640 battles and shelling around schools, hospitals, and residential areas, leading 0:02:20.720 --> 0:02:23.880 US officials to believe war crimes have been committed. Now, 0:02:23.919 --> 0:02:27.840 President Biden meets today with China President shi Jinping. Secretary 0:02:27.840 --> 0:02:30.440 of State Anthony B. Lincoln says Biden will issue a 0:02:30.480 --> 0:02:34.400 warning to Beijing that helping Russia will have consequences. We 0:02:34.440 --> 0:02:36.920 believe China in particular has a responsibility to use its 0:02:36.919 --> 0:02:40.360 influence with President Putin and to defend the international rules 0:02:40.360 --> 0:02:44.840 and principles that it professes to support. Instead, it appears 0:02:44.840 --> 0:02:47.160 that China is moving in the opposite direction. This as 0:02:47.200 --> 0:02:50.440 the Pentagon warns Russia may threaten to use nuclear weapons 0:02:50.440 --> 0:02:53.760 if their invasion of Ukraine is stalled. In Washington, I'm 0:02:53.760 --> 0:02:57.040 Mayne Morris, Bloomberg Daybreak Right, Amy thank you, stiff defense 0:02:57.080 --> 0:03:00.000 from Ukraine and economic sanctions race, speculation of a new 0:03:00.080 --> 0:03:03.840 clear threats from Russia. Former Secretary of Defense and CIA 0:03:03.960 --> 0:03:07.400 Director of Leon Panetta says diplomatic talks won't be enough 0:03:07.440 --> 0:03:10.280 to deter Putin. Panetta said the U s should continue 0:03:10.280 --> 0:03:13.120 to arm Ukraine as Putin doubles down. This is a 0:03:13.160 --> 0:03:18.720 power game. Putin understands power. He really doesn't understand diplomacy 0:03:18.800 --> 0:03:21.600 very much. He understands power. And the only way to 0:03:21.720 --> 0:03:25.160 convince Putin that this is not going anywhere and that 0:03:25.240 --> 0:03:27.480 he should take some kind of off ramp is to 0:03:27.520 --> 0:03:30.560 continue to beat him on the battlefield. Former Defense Secretary 0:03:30.680 --> 0:03:33.600 Leon Panetta at the comments on Bloomberg's Balance of Power 0:03:33.639 --> 0:03:36.280 with David Weston. Catch the program weekdays at noon Wall 0:03:36.320 --> 0:03:39.360 Street Time on both Bloomberg Radio and television. The cost 0:03:39.400 --> 0:03:42.200 of ensuring Russian debt against default has dropped. This morning, 0:03:42.280 --> 0:03:45.080 Karen Bloomberg, Noose has learned that funds earmarks for interest 0:03:45.080 --> 0:03:48.080 payments on the Russian government's dollar notes were sent to 0:03:48.120 --> 0:03:51.520 the payment agent. Sources say JP Morgan Chase process the 0:03:51.520 --> 0:03:53.560 funds and sent the money on the city group that 0:03:53.680 --> 0:03:57.240 is Spring Optimism. The bonds may be settled in dollars. Well, Nathan, 0:03:57.240 --> 0:03:59.280 if the war and a FED right hike we're not 0:03:59.400 --> 0:04:02.560 enough for stairs to handle, there could be more volatility 0:04:02.600 --> 0:04:05.000 than usual today and we get the latest live with 0:04:05.040 --> 0:04:08.400 Bloomberge John Tucker, John Karen is the quarterly event known 0:04:08.400 --> 0:04:11.560 as triple witching. Single stock and index level options are 0:04:11.600 --> 0:04:14.600 set to expire today. At the same time, more near 0:04:14.640 --> 0:04:17.160 the money options are maturing than at any time since. 0:04:18.560 --> 0:04:21.919 If that's not enough, there's a rebalancing of benchmark indexes, 0:04:22.240 --> 0:04:24.720 a combination that tends to spark single day volumes that 0:04:24.800 --> 0:04:28.080 rank among the highest of the year. Lorie Camvassin ahead 0:04:28.080 --> 0:04:30.880 of US Equity Strategy at RBC Capital Markets is the 0:04:30.920 --> 0:04:34.320 wild swings won't end here. I think that volatility is 0:04:34.360 --> 0:04:36.560 likely to stay elevated for quite some time. We like 0:04:36.720 --> 0:04:40.040 balanced portfolios between growth and value. We do think that 0:04:40.080 --> 0:04:42.000 growth stocks are ultimately going to recover, but we think 0:04:42.000 --> 0:04:43.760 that's going to be because markets are going to continue 0:04:43.760 --> 0:04:46.760 to price in nervousness and what high quality exposure. That's 0:04:46.800 --> 0:04:50.480 Lori Calvasina at RBC. The rebalance of the index alone 0:04:50.760 --> 0:04:53.800 could lead to thirty three billion dollars of stock trades 0:04:53.839 --> 0:04:56.479 in today's session Live to New York. I'm John Tucker, 0:04:56.520 --> 0:04:59.440 Boomberg Daybreak. All right John, thanks. This is also another 0:04:59.520 --> 0:05:02.960 day of all utility in nickel trading in London. Let's 0:05:03.000 --> 0:05:05.719 go there live and get the latest from Bloomberg's You 0:05:05.720 --> 0:05:08.360 Win Parts. Good morning you, Good morning Athan and Karen. 0:05:08.480 --> 0:05:11.800 Yet another glitchy open for the nickel market today as 0:05:11.839 --> 0:05:15.160 the price continues it's to treat from an unprecedented short squeeze. 0:05:15.240 --> 0:05:18.440 Last week, Nickel dropped by the maximum allowed for a 0:05:18.600 --> 0:05:22.520 third straight day, Nickel tumbling twelve percent to the daily limits, 0:05:22.520 --> 0:05:24.680 a limit which has only just been increased from eight 0:05:24.680 --> 0:05:29.040 percent in the previous session. Frustrating Friday, after a frustrating 0:05:29.080 --> 0:05:31.799 week for the London Metal Exchange. They'll be very pleased 0:05:31.839 --> 0:05:34.600 that tomorrow is Saturday, Live in London. I'm you and 0:05:34.640 --> 0:05:37.080 Portsmoon mid daybreak. Alright you and thank you all. Beck 0:05:37.120 --> 0:05:39.920 you're in the US. And Corporate News General Electric Slash 0:05:40.000 --> 0:05:43.320 CEO Larry Cops pay package by ten million dollars a year. 0:05:43.520 --> 0:05:46.080 It's a surprise move in response to last year's rebuked 0:05:46.160 --> 0:05:50.120 by shareholders. Cops total target compensation went from about twenty 0:05:50.160 --> 0:05:52.800 one million to eleven million dollars. All right, let's take 0:05:52.800 --> 0:05:55.320 a look at some stocks moving in early trading. Carreen 0:05:55.400 --> 0:05:58.039 shares a fed extra, down about four percent this morning. 0:05:58.040 --> 0:06:02.760 The delivery company posted quarterly profit below analyst estimates. Rising 0:06:02.800 --> 0:06:05.520 costs related to a US labor shortage and lower than 0:06:05.520 --> 0:06:10.160 expected package volume, dragged on gains from pricing increases. Shares 0:06:10.200 --> 0:06:12.640 of Game stopp are down now more than seven percent. 0:06:12.760 --> 0:06:16.640 That company reported a surprise loss during the holiday quarter. Well, 0:06:16.720 --> 0:06:19.279 turning to the pandemic now, Nathan Madonna is asking for 0:06:19.400 --> 0:06:22.719 US government approval for a fourth COVID shot for adults, 0:06:22.720 --> 0:06:24.479 so we get the latest Live or a Bloomberg's real 0:06:24.520 --> 0:06:26.559 need a young good morning, Ready down, Good morning Karen. 0:06:26.680 --> 0:06:30.240 This would cover significantly more people than Fiser's earlier request 0:06:30.320 --> 0:06:33.799 for emergency authorization for fourth shot, which was for those 0:06:33.839 --> 0:06:36.880 over sixty five years old. And right now there's a 0:06:36.880 --> 0:06:40.760 heated debate over how long vaccines protect from infection and 0:06:40.800 --> 0:06:45.799 whether repeated shots are necessary to prevent severe disease and death. Meantime, 0:06:45.880 --> 0:06:49.279 Dr Anthony Fauci says the US could see COVID nineteen 0:06:49.360 --> 0:06:53.200 cases rise again and vulnerable people would likely need a 0:06:53.279 --> 0:06:56.280 fourth dose. Live in New York I'm really need a 0:06:56.360 --> 0:06:59.279 young Bloomberg daybreak. I ren need a thanks right now 0:06:59.360 --> 0:07:01.400 as some p few cheers are down twenty two point. 0:07:01.400 --> 0:07:04.200 Staff futures down a hundred fifty six, and nastac futures 0:07:04.520 --> 0:07:07.720 they're lower by seventy one points. The tenure treasury right 0:07:07.720 --> 0:07:11.239 now is up six thirty seconds, the yield two point 0:07:11.320 --> 0:07:14.400 one four per cent. Straight ahead, we have your latest 0:07:14.480 --> 0:07:19.040 local headlines, plus a check of sports. This is Bloomberg 0:07:23.240 --> 0:07:25.320 that brings us to six oh seven on Wall Street, 0:07:25.320 --> 0:07:27.760 fifty one degrees in Central Park. Pretty bad accident on 0:07:27.800 --> 0:07:30.920 northbound FDR Drive at seventy street. Tails coming up in traffic. 0:07:31.000 --> 0:07:33.320 First Michael Barr with more on what's going on in 0:07:33.320 --> 0:07:35.880 New York and around the world. Morning Michael, Good morning, Nathan. 0:07:35.880 --> 0:07:38.960 New York Governor Kathy Oakel says that state agencies and 0:07:39.040 --> 0:07:42.960 public authorities will stop doing business with companies that have 0:07:43.040 --> 0:07:46.840 continued to do business with Russia. Hocal previously signed and 0:07:46.960 --> 0:07:50.720 executive order banning state agencies from doing business with Russian companies. 0:07:50.920 --> 0:07:54.640 Locals spoken Younger's where now, We're going to prohibit any 0:07:54.680 --> 0:07:58.920 state agencies and authorities from contracted with any entities that 0:07:58.960 --> 0:08:01.880 are still doing business in Russia. Governor Hocal also said 0:08:01.920 --> 0:08:04.560 New York will also send one hundred thousand pounds of 0:08:04.600 --> 0:08:09.600 medical supplies, including masks and gowns, to Ukraine. Andrew Cuomo 0:08:09.680 --> 0:08:12.520 says he's opened to running for New York governor again 0:08:13.000 --> 0:08:16.720 and would consider creating his own political party to do so. Cuomo, 0:08:16.800 --> 0:08:19.080 a Democrat who resigned in August and in a sexual 0:08:19.080 --> 0:08:22.760 harassment scandal, delivered his second public address in as many weeks, 0:08:23.120 --> 0:08:25.200 this time to a group of clergy in the Bronx. 0:08:25.480 --> 0:08:28.000 New details are emerging about the driver of a pickup 0:08:28.000 --> 0:08:31.320 truck that slammed into a college golf team van in 0:08:31.440 --> 0:08:35.200 West Texas, killing nine people. According to the NTSP, it 0:08:35.280 --> 0:08:38.000 was the failure of the left front tire of the pickup. 0:08:38.360 --> 0:08:41.560 In TSB vice chair Bruce Landsburgh says as for the 0:08:41.679 --> 0:08:45.000 driver of the pickup, a thirteen year old child was 0:08:45.040 --> 0:08:47.880 behind the wheel of the pickup truck. The NTSB s 0:08:47.880 --> 0:08:51.000 Bruce Landsburg says the spared tire failed on the pickup 0:08:51.040 --> 0:08:55.000 at seventy five that resulted in the truck veering into 0:08:55.080 --> 0:08:57.880 the golf team bus. At least five people died and 0:08:57.920 --> 0:09:01.600 several were injured. In chain reaction crashes involving dozens of 0:09:01.679 --> 0:09:06.160 vehicles on an interstate in southeast Missouri. Police say thick 0:09:06.320 --> 0:09:09.080 fog led to the crash, about one fifty miles south 0:09:09.320 --> 0:09:13.160 of St. Louis. Forecasters say the multi year mega drought 0:09:13.240 --> 0:09:17.720 that's drained western US reservoirs and parched crop lands across 0:09:17.760 --> 0:09:21.160 California show no signs of easing. The National Oceanic and 0:09:21.160 --> 0:09:25.000 Atmosphereic Administration says the region faces another spring and summer 0:09:25.000 --> 0:09:29.120 of dwindling water resources and rising temperatures. Sarah Palin is 0:09:29.160 --> 0:09:32.000 appealing her loss and the defamation suit she filed against 0:09:32.040 --> 0:09:34.599 The New York Times. Palin says she was denied a 0:09:34.640 --> 0:09:38.000 fair trial the former Alaska governor suit over an opinion 0:09:38.000 --> 0:09:40.960 piece that linked her to a deadly shooting. Global News 0:09:41.040 --> 0:09:44.559 twenty four hours a day on air and on Bloomberg Quicktake, 0:09:44.840 --> 0:09:47.559 powered by more than twenty seven hundred journalists and analysts 0:09:47.640 --> 0:09:50.360 more than one d twenty countries. Michael Barr and this 0:09:50.679 --> 0:09:57.760 is Bloomberg, Nathan. Thanks Michael six O nine on Wall 0:09:57.760 --> 0:10:00.480 Street Time for the Bloomberg Sports Update. Here's John's Stann shower. 0:10:00.559 --> 0:10:03.480 Thanks Nathan. They're celebrating in Jersey City. A couple of 0:10:03.559 --> 0:10:07.280 months ago. St. Peter's record was three and six losses 0:10:07.400 --> 0:10:09.600 to l i U and Stony Brook lost in St. 0:10:09.679 --> 0:10:12.160 John's by twenty one. And yet the Peacocks able to 0:10:12.200 --> 0:10:14.120 win their conference Turney gain entry to the n c 0:10:14.200 --> 0:10:16.760 Double A Tournament, where they pulled off a huge first 0:10:16.880 --> 0:10:20.880 round stunner, beating might In Kentucky eighty five seventy nine 0:10:20.880 --> 0:10:23.400 in overtime, only the tenth time ever a fifteen seed 0:10:23.440 --> 0:10:26.520 has beaten a two Darrow Banks to twenty seven points. 0:10:27.520 --> 0:10:30.000 You know, uh playing basketball and you grow up watching 0:10:30.520 --> 0:10:33.400 college basketball and college basketball in the Marsh Madness Tournament. 0:10:33.720 --> 0:10:36.680 So just letting that sink in, knowing that the game 0:10:36.760 --> 0:10:38.600 is over. We got it. Just a really good first 0:10:38.679 --> 0:10:40.679 n c A win in school history and the third 0:10:40.720 --> 0:10:43.599 ever for the Metro Atlantic Conference. Biggest upset today not 0:10:43.720 --> 0:10:46.280 the only one. Twelfth seeded New Mexico State knocked off 0:10:46.360 --> 0:10:50.240 Yukon and Richmond upset Iowa. Since seeding began in nineteen 0:10:50.360 --> 0:10:53.160 seventy nine, Richmond has won nine times as a twelve 0:10:53.200 --> 0:10:55.000 seeder lower. No other school has done up more than 0:10:55.080 --> 0:10:58.240 four times. At the Garden Islanders on a Kyle Palmary 0:10:58.320 --> 0:10:59.920 goal beat the Rangers to the one, the Ranger go 0:11:00.000 --> 0:11:02.360 all the forty the year for Chris Crider or twenty 0:11:02.400 --> 0:11:04.320 one of those have been on the power Play. Giants 0:11:04.360 --> 0:11:07.599 have released veteran safety Logan Ryan Big NFL trade that 0:11:07.800 --> 0:11:10.680 made Last Night Green Day since Star Wives and seeber 0:11:10.760 --> 0:11:13.679 Davante Adams to Las Vegas for first and second round 0:11:13.720 --> 0:11:15.360 draft picks, and Adams has agreed to a new five 0:11:15.440 --> 0:11:18.840 year contact with the Raiders. Brown's quarterback Baker Mayfield has 0:11:18.880 --> 0:11:22.640 requested a trade upset that Cleveland showed interest in acquiring 0:11:22.679 --> 0:11:25.559 to Shaun Watson, who is expected to be dealt by Houston, 0:11:25.640 --> 0:11:28.439 but to either Atlanta or New Orleans. Nixon Nets have 0:11:28.559 --> 0:11:31.080 home games tonight and the Yankees play this afternoon. They 0:11:31.160 --> 0:11:33.959 take on the Pirates and Breton team John Dash Dower 0:11:34.000 --> 0:11:37.800 Bloomberg Sports Nathan all Right, John thanks SMP futures now 0:11:37.960 --> 0:11:40.480 down twenty one point Stole futures down a hundred forty 0:11:40.520 --> 0:11:43.520 four Nance A futures are lower by seventy three points. 0:11:43.600 --> 0:11:46.079 The ten year treasury is up six thirty seconds. The 0:11:46.160 --> 0:11:49.840 yield two point two year yield one point nine zero. 0:11:50.400 --> 0:11:52.920 Niam X screwed up one pot up a dollar twenty 0:11:52.960 --> 0:11:55.600 two at a hundred four dollars twenty cents of barrel, 0:11:55.840 --> 0:11:58.760 Awaiting the call between Presidents Biden and she on the 0:11:58.800 --> 0:12:02.079 war in Ukraine. Will check again with Bloomberg's Maria Sadeo 0:12:02.520 --> 0:12:08.680 to the European perspective out of Brussels and Bloomberg. Daybreak 0:12:08.760 --> 0:12:10.719 is brought to you by the Jewish Communal Fund j 0:12:10.800 --> 0:12:12.839 c f's Down Advice Fund is the smart choice to 0:12:12.880 --> 0:12:15.960 manage a philanthropy, especially in times of crisis. Make your 0:12:16.000 --> 0:12:19.160 giving impactful. Visit j c F n Y dot org. 0:12:21.960 --> 0:12:25.319 Markets headlines and breaking news twenty four hours a day 0:12:25.480 --> 0:12:28.440 at Bloomberg dot com, the Bloomberg Business at and at 0:12:28.480 --> 0:12:39.200 Bloomberg Quicktape's a Bloomberg Business Flash and I'm Karen Moscow. 0:12:39.360 --> 0:12:43.199 Usock Index futures lower this morning along with European shares 0:12:43.280 --> 0:12:45.760 as traders way mixed signals from the peace dogs between 0:12:45.840 --> 0:12:49.520 Russia and Ukraine, embrace revolatility from expiring options, and we 0:12:49.600 --> 0:12:52.000 check the markets every fifteen minutes throughout the trading day 0:12:52.320 --> 0:12:55.240 on Bloomberg S and P futures down twenty eight points down. 0:12:55.280 --> 0:12:58.400 Futures down a hundred eighty six nasdack futures down ninety 0:12:58.440 --> 0:13:01.480 four the decks in Germany's down one percent. Ten year 0:13:01.520 --> 0:13:04.200 treasury up six thirty seconds, held two point one four 0:13:04.280 --> 0:13:07.600 percent yield on the two year one point eight nine percent. 0:13:08.040 --> 0:13:10.640 NIMEX screwed oil is at one point six percent, up 0:13:10.640 --> 0:13:13.120 a dollar sixty at a hundred four dollars fifty seven 0:13:13.240 --> 0:13:15.960 cents a barrel. Comic school there's down four ten percent 0:13:16.080 --> 0:13:18.679 or eight dollars sixty cents at nineteen thirty nine sixty 0:13:18.720 --> 0:13:21.480 and ounce. The euro on point one zero five six 0:13:21.559 --> 0:13:24.640 against the dollar, and bitcoin is at forty thou five 0:13:24.720 --> 0:13:27.520 hundred eighty five dollars. As a Bloomberg business flash. Now 0:13:27.559 --> 0:13:29.800 here's Michael bar with more on what's going on around 0:13:29.800 --> 0:13:33.280 the world. Michael, thank you very much. Karen. World leaders 0:13:33.360 --> 0:13:37.040 called for an investigation of Russia's repeat attacks on civilian 0:13:37.080 --> 0:13:40.920 targets in Ukraine. Meanwhile, rescue workers search for survivors and 0:13:40.920 --> 0:13:43.439 the ruins of a theater that was serving as a 0:13:43.480 --> 0:13:47.080 shelter in Meruple. Today, President Bye will meet with Chinese 0:13:47.120 --> 0:13:51.360 President shi Jing Ping. Top seeds Gonzaga Baylor in Kansas 0:13:51.440 --> 0:13:53.360 have advanced in the second round of the n C 0:13:53.480 --> 0:13:56.400 Double A men's basketball tournament on a day a number 0:13:56.480 --> 0:14:01.040 two seed was dispatched fifteen seed at st Eaters Peacocks. 0:14:01.120 --> 0:14:05.599 See US now beat Kentucky seventy nine in overtime. In 0:14:05.679 --> 0:14:08.040 the NHL, the Islanders beat the Rangers, who won the 0:14:08.120 --> 0:14:11.400 Capitol's one Global News twenty four hours a day on 0:14:11.679 --> 0:14:14.360 air and on Bloomberg Quick Take Power by more than 0:14:14.760 --> 0:14:17.520 seven hundred journalists analysts more than a d twenty countries. 0:14:17.840 --> 0:14:20.600 Michael Barr, This is Bloomberg Na. Okay, Michael, Thanks at 0:14:20.640 --> 0:14:23.600 six nineteen on Wall Street Live from the Bloomberg Interactive 0:14:23.600 --> 0:14:27.320 Broker Studios. This is Bloomberg Daybreak and Maria today, ol 0:14:27.360 --> 0:14:30.560 Bloomberg correspondent is back with us from Brussels this morning 0:14:30.600 --> 0:14:33.080 as we await this call in just a few hours 0:14:33.400 --> 0:14:37.480 between Presidents Biden and She of China. Obviously Maria, the 0:14:37.840 --> 0:14:41.240 US president is trying to pressure China to use its 0:14:41.360 --> 0:14:46.080 influence on Russia as this grinding war with Ukraine continues 0:14:46.480 --> 0:14:50.880 from the European perspective. How important is this call scene Well, 0:14:51.480 --> 0:14:54.240 and it's very important because at this point of course, 0:14:54.400 --> 0:14:57.360 China is one of the big geo political agents UH 0:14:57.480 --> 0:15:00.240 in the world, and we've talked about four years now 0:15:00.400 --> 0:15:04.480 about this new access the dragon bear. This is Russia 0:15:04.640 --> 0:15:09.560 and China foreign policy coming together to potentially pose a 0:15:09.720 --> 0:15:12.600 threat and be a arrival to the Western almost rules 0:15:12.640 --> 0:15:16.320 based values uh democracies. When you look at Ukraine at 0:15:16.400 --> 0:15:20.280 this point, this is exacerbated by the conflict. So to 0:15:20.400 --> 0:15:23.120 me is very clear that both the United States but 0:15:23.200 --> 0:15:27.200 also the European Union want to know what China's position 0:15:27.280 --> 0:15:30.120 in this. Are they going to be helping Russia in 0:15:30.280 --> 0:15:33.280 in any way and of course I mean financially, but 0:15:33.400 --> 0:15:37.960 potentially even with military weapons and gear. And then three, 0:15:38.440 --> 0:15:40.360 if they get an indication that that is going to 0:15:40.480 --> 0:15:43.840 be the case, well I would argue we're probably entering 0:15:44.000 --> 0:15:47.600 into a new phase of sanctions between the two sides. 0:15:47.960 --> 0:15:50.560 Meaning the United States has made it clear if there 0:15:50.800 --> 0:15:54.440 is an indication that anyone or any country tries to 0:15:54.680 --> 0:15:58.440 bypass Western sanctions on Russia, they will also pay a penalty. 0:15:58.520 --> 0:16:00.720 When you speak to the Europeans, they say the same thing. 0:16:00.880 --> 0:16:04.240 If you try to do something that derails everything that 0:16:04.280 --> 0:16:07.360 we've put in place to end this war machine by 0:16:07.440 --> 0:16:10.960 Vladimir Putting or help him get a lifeline to continue 0:16:11.000 --> 0:16:12.760 his invasion, that you're going to have to pay a 0:16:12.800 --> 0:16:15.720 price too. Even as the war has been going on, 0:16:15.840 --> 0:16:21.400 there've been nearly daily discussions negotiations between Ukrainian and Russian diplomats. 0:16:21.560 --> 0:16:25.320 Is this call between President Biden and President she seen 0:16:25.360 --> 0:16:28.960 as having any influence on the discussions going on at 0:16:29.000 --> 0:16:31.960 the diplomatic level between Russian and Ukraine. No. I think 0:16:32.000 --> 0:16:34.240 we have to look at them as separate things and 0:16:34.360 --> 0:16:38.080 and different units here. One of course, is the conversations 0:16:38.120 --> 0:16:40.960 between Russia and Ukraine. This is very much about the 0:16:41.080 --> 0:16:43.760 future and and it's about the peace deal, and it's 0:16:43.840 --> 0:16:47.200 potentially a diplomatic way forward. Now, if you ask me today, 0:16:47.360 --> 0:16:50.960 is there a diplomatic way forward between Russia and Ukraine. 0:16:51.080 --> 0:16:54.640 I've really struggled to see one. When I speak to Ukrainians, Uh, 0:16:54.720 --> 0:16:57.880 they almost present this as an existential question for them. 0:16:58.000 --> 0:17:01.720 They really struggled to see how after twenty three days 0:17:01.800 --> 0:17:04.600 of heavy bombing and selling, they can go back to 0:17:04.640 --> 0:17:07.320 anything that looks like a normal relationship with Russia. And 0:17:07.520 --> 0:17:10.280 and they really struggle to see how they can coexist 0:17:10.440 --> 0:17:14.040 with Vladimir Putin still in power. When you look at China, 0:17:14.400 --> 0:17:17.160 what they fear is that at a time in which 0:17:17.320 --> 0:17:21.040 Ukraine continues to defend its territory and it's major cities. 0:17:21.080 --> 0:17:23.280 And remember the Russians have not been able to capture 0:17:23.600 --> 0:17:25.919 any of the big goals. This is day twenty three 0:17:25.960 --> 0:17:27.720 of the war. Is costing a lot of money for 0:17:27.760 --> 0:17:30.520 the Russian Federation, but they haven't been able to get 0:17:30.560 --> 0:17:33.240 to the military goals that they wanted. We see big 0:17:33.400 --> 0:17:36.880 fights in keep the capital, we see big fights in Mariupo. 0:17:37.000 --> 0:17:39.399 This is in the south. It cannots Crimea to the 0:17:39.480 --> 0:17:42.919 dom Bass. But Russia has not made this quick, easy 0:17:43.080 --> 0:17:45.760 grade glory invasion that they promised. Remember they said three 0:17:45.800 --> 0:17:47.639 or four days, we're gonna get this done. Now it's 0:17:47.680 --> 0:17:50.240 turning into almost a month long invasion. So with the Ukrainians, 0:17:50.280 --> 0:17:52.680 worry is that at a time in which they feel 0:17:52.760 --> 0:17:55.960 they can inflict damage on the Russians, the China is 0:17:55.960 --> 0:17:59.000 gonna come in to help them with financial means and 0:17:59.160 --> 0:18:02.040 military means and military weapons, and that's when it could 0:18:02.080 --> 0:18:04.640 get complicated for Ukrainians. Of course, they have a big 0:18:04.720 --> 0:18:08.280 interest and that not happening. We've gotten reports as well 0:18:08.440 --> 0:18:12.639 that Russian President Putin has been speaking today with German 0:18:12.760 --> 0:18:14.760 Chancellor all Off Shultz. Can you get us up to 0:18:14.800 --> 0:18:17.240 speed on what we know about those conversations. Look, what 0:18:17.359 --> 0:18:20.159 we know is that Vladimir Putin has said the talks 0:18:20.240 --> 0:18:23.720 are stalled now and they're not moving ahead quickly because 0:18:23.760 --> 0:18:26.920 the Ukrainians are delaying the whole thing. They need to 0:18:27.000 --> 0:18:29.040 get real, they need a reality check and know that 0:18:29.200 --> 0:18:31.119 some of the conditions that they put on the table 0:18:31.400 --> 0:18:33.600 are simply not acceptable. If they don't do that, we're 0:18:33.600 --> 0:18:35.359 not going to move forward. But you also have to 0:18:35.400 --> 0:18:38.080 see this from the Ukrainian psyche and their mentality, and 0:18:38.160 --> 0:18:40.920 what they argue is we don't trust Russia and we 0:18:41.000 --> 0:18:43.240 don't ust Vladimir Pudding. And if you look at everything 0:18:43.280 --> 0:18:46.000 that Russia has said until now, it's been proven false. 0:18:46.119 --> 0:18:48.560 They said there would be no invasion, there was an invasion. 0:18:48.920 --> 0:18:51.440 They say Belarus is not helping Russia and this war. 0:18:51.560 --> 0:18:54.360 They clearly are. So we're not going to get serious 0:18:54.400 --> 0:18:58.320 about any future deal until and as long there's no ceasefire. 0:18:58.440 --> 0:19:01.320 So for them, the ceasefire is a precondition between the 0:19:01.400 --> 0:19:04.120 real talks begin. So again, going back to the earlier point, 0:19:04.200 --> 0:19:06.919 it's very difficult to see what a diplomatic we forward 0:19:07.000 --> 0:19:11.600 looks like if the war doesn't end on the military front. First, 0:19:11.720 --> 0:19:13.320 and that's why, of course you're seeing that the two 0:19:13.359 --> 0:19:15.520 sides are not looking or speaking. I do I the 0:19:15.560 --> 0:19:17.359 other things, just very briefly, I would know it is 0:19:17.400 --> 0:19:19.439 that to me, this looks like we're at a stage 0:19:19.800 --> 0:19:22.760 in which both sides are trying to almost build up 0:19:22.880 --> 0:19:27.119 leverage for the real talks to begin. Bloomberg's Maria Today. Oh, 0:19:27.320 --> 0:19:29.760 as always, thanks for the perspective area today with us 0:19:29.840 --> 0:19:32.520 this morning from Brussels, as we await that call in 0:19:32.640 --> 0:19:34.600 just a few hours. It's set for nine am Wall 0:19:34.640 --> 0:19:38.520 Street time between President Biden of the US and Chinese 0:19:38.560 --> 0:19:42.400 President shi Jin Pain, looking for more clarity on China's 0:19:42.440 --> 0:19:46.560 position when it comes to this ongoing war in Ukraine. 0:19:46.600 --> 0:19:50.879 Now into day three. Right now, SMP futures down twenty 0:19:50.960 --> 0:19:53.520 seven point, staff futures down a hundred eighty six nanstack 0:19:53.560 --> 0:19:56.159 futures are lowered by eighty seven points. The tenure treasury 0:19:56.240 --> 0:19:58.840 is up six thirty seconds. Right now, the yield two 0:19:58.920 --> 0:20:02.480 point one four ent on the benchmark tenure US Treasury. 0:20:02.720 --> 0:20:09.240 This is Bloomberg Bloomberg eleven three oh. Weather clouds, patchy 0:20:09.320 --> 0:20:10.879 fog will give way to sunshine and the high in 0:20:10.920 --> 0:20:13.720 your seventy today periods of rain to start the weekend. 0:20:13.760 --> 0:20:16.960 Saturday highs in the low sixties, upper fifties, partly sunny 0:20:17.000 --> 0:20:22.680 by Sunday. Right now fifty one in Central Park, broadcasting 0:20:22.760 --> 0:20:26.440 live from the Bloomberg Interacted Broker Studio in New York, 0:20:26.600 --> 0:20:31.240 Bloomberg Living Freedom to Washington, d C. Bloomberg to Boston, 0:20:31.359 --> 0:20:34.760 Bloomberg one A six one to San Francisco, Bloomberg N 0:20:34.880 --> 0:20:37.760 sixty to the Country Sirius XM to the one ninet 0:20:38.040 --> 0:20:40.600 and around the globe to the Bloomberg Business at and 0:20:40.680 --> 0:20:49.959 Bloomberg Radio dot com. This is Bloomberg Daybreak put. It's 0:20:49.960 --> 0:20:52.320 six thirty on Wall Street. Good morning. I'm Nathan Hagar 0:20:52.720 --> 0:20:55.520 and I'm Cameron Moscow, and we're just about three hours 0:20:55.600 --> 0:20:57.720 away from the open of US trading. It's time for 0:20:57.760 --> 0:20:59.760 the five things you need to notice. Start your day. 0:21:00.160 --> 0:21:04.240 To you by Interactive Broker Simple ibk our Global Trader app, 0:21:04.560 --> 0:21:07.280 deposit in your local currency and trade stocks in the US, 0:21:07.359 --> 0:21:10.159 Europe and Asia. Start your free trial and ib gr 0:21:10.240 --> 0:21:14.520 dot com slash Global Trader at first. Russia's invasion continues 0:21:14.600 --> 0:21:17.840 as missiles struck western Ukraine in regions close to the 0:21:17.960 --> 0:21:21.760 border of Poland. According to new Pentagon intelligence, Russian President 0:21:21.840 --> 0:21:25.359 Vladimir Putin may soon levy nuclear threats against the West. 0:21:25.560 --> 0:21:28.200 Well back in Washington, Karen, President Biden a schedule to 0:21:28.240 --> 0:21:31.080 speak with China's President she Jin ping about the war. 0:21:31.240 --> 0:21:34.200 Bloomberg Sad Baxter has the latest. The White House is 0:21:34.240 --> 0:21:37.200 saying it gives President Biden a chance to really assess 0:21:37.320 --> 0:21:40.399 where President She stands and to step up pressure for 0:21:40.480 --> 0:21:43.320