WEBVTT - Inflation In Focus and A Shake Up at the Fed

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<v Speaker 1>From the Bloomberg Interactive Brokers Studios. This is Bloomberg Day

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<v Speaker 1>Bright for Tuesday, February four. Team Coming up today, Wall

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<v Speaker 1>Street races for the latest reading on inflation. President Joe

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<v Speaker 1>Biden is set to Dame of Fed Vice chair lyon

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<v Speaker 1>brainerd as his top economic adviser. The U S And

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<v Speaker 1>China consider meeting in the coming days over the balloon incidents,

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<v Speaker 1>and the White House plans to sell more crude from

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<v Speaker 1>the Strategic Petroleum Reserve. Shooting on the Michigan State University

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<v Speaker 1>campus has left three dead, plus the NYPD arrest of

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<v Speaker 1>the suspected driver in yesterday's deadly you hauled truck attempt

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<v Speaker 1>Michael Barr. More ahead, I'm John Stadtower and sorts Jail

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<v Speaker 1>and Brunson's forty points led the next to their first

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<v Speaker 1>win over the Nets in more than three years. That's

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<v Speaker 1>all straight ahead on Bloomberg day Break, the Business news

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<v Speaker 1>you need to sturn your day, and just one fifteen

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<v Speaker 1>minute podcast each pointing on Apple, Spotify, The Bloomberg Business

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<v Speaker 1>Appen everywhere you get your podcasts. Good morning, I'm Nathan

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<v Speaker 1>Hagar and I'm kerin Moscow. Here are the stories we're

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<v Speaker 1>following Today, we begin with the key inflation report that

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<v Speaker 1>markets have been waiting for. January's Consumer Price Index is

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<v Speaker 1>due out at eight thirty am Wall Street Time. We

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<v Speaker 1>get a preview from Bloomberg's Michael McKee, starting with the

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<v Speaker 1>good news headline, Inflation is forecast to have fallen again

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<v Speaker 1>in January, but that's because of base effects, the fact

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<v Speaker 1>that it was higher last year at this time. The

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<v Speaker 1>bad news is on a month to month basis, January

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<v Speaker 1>price is likely rose at a faster pace. Some things

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<v Speaker 1>like gasoline and used cars rose in price, but the

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<v Speaker 1>government is also rejiggering its seasonal adjustments of the weight

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<v Speaker 1>it puts on various sectors that will give the CPI

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<v Speaker 1>a statistical boost. Bottom Line, markets and the Fed will

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<v Speaker 1>likely look through the report anticipating some reversion this month.

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<v Speaker 1>The Fed doesn't meet again until March. Michael McKee, Bloomberg

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<v Speaker 1>Daybreak Right, Mike, Thanks well. We turned to the White

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<v Speaker 1>House now, and it looks like President Biden is to

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<v Speaker 1>pick a new top economic advisor. We get the latest

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<v Speaker 1>live with Bloomberg Steve Rappaport, Steve, good morning, Good morning, Karen,

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<v Speaker 1>and Nathan. President Biden is tapping federal Reserve Vice chair

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<v Speaker 1>Lyle Brainerd for the job, with an announcement coming as

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<v Speaker 1>soon as today, according to people with familiar with the matter.

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<v Speaker 1>As Director of the National Economic Council, Brainerd will have

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<v Speaker 1>a prominent role as the administration shifts focus to the

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<v Speaker 1>implementation of laws such as the Inflation Reduction Act. Her

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<v Speaker 1>appointment to succeed ANYC director Brian Ds creates an opening

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<v Speaker 1>on the Federal Reserves Board of Governors as the Central

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<v Speaker 1>Bank continue continues its campaign of pursuing aggressive interest rate hikes.

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<v Speaker 1>Live in New York, I'm Steve Rappaport, Bloomberg Daybreak. Okay, Steve, Thanks.

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<v Speaker 1>Turning to Europe, we're seeing wages in the UK rise

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<v Speaker 1>more than expected. Let's go live to London and get

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<v Speaker 1>the very latest with Bloomberg's You and Potts. Good morning,

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<v Speaker 1>Good morning, Nathan and Karen. Average earnings in the UK

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<v Speaker 1>executive bonuses rose six point seven percent in the three

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<v Speaker 1>months to December from the previous year, ignoring the pandemic.

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<v Speaker 1>That's the fastest place since records began in two thousands.

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<v Speaker 1>One the reading another sign of Britain's tight labor market

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<v Speaker 1>will provide I'm edition to bankiving the policymakers too high

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<v Speaker 1>rates again next month. The latest inflation data comes tomorrow

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<v Speaker 1>in London. I'm your port spoon boo, day break you

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<v Speaker 1>and thank you and Asia. Today, the yen is rising

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<v Speaker 1>as Kazooheta is officially nominated to helm the Bank of Japan.

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<v Speaker 1>Analysts say the move will likely pay the way for

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<v Speaker 1>a gradual pairing back of the central bank stimulus program

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<v Speaker 1>and checking. The yen now is at one thirty two

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<v Speaker 1>point oh nine against the dollar. Now, let's get to

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<v Speaker 1>the latest developments on the China balloon incident. Washington and

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<v Speaker 1>Beijing are wang whether to hold a diplomatic meeting on

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<v Speaker 1>the suspected spying device in the coming days. Amy Morris

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<v Speaker 1>has details from our Bloomberg newsroom in Washington. Sources tell

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<v Speaker 1>Bloomberg News that Secretary of State Anthony Lincoln is considering

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<v Speaker 1>a meeting with wangy, China's top diplomat, at a security

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<v Speaker 1>conference later this week. This would be their first face

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<v Speaker 1>to face talks since the balloon uproar that led to

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<v Speaker 1>a new spike intentions. Senior officials say they have nothing

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<v Speaker 1>official to anounces b Lincoln had called off his trip

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<v Speaker 1>to Beijing last week. After the US identified the alleged

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<v Speaker 1>Chinese spy balloon hovering over US airspace. The U says

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<v Speaker 1>that balloon, which was shot down off the coast of

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<v Speaker 1>South Carolina, was part of a global surveillance system. Since then,

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<v Speaker 1>three more objects have been shot down. In Washington, I

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<v Speaker 1>maybe Morris Bloomberg Daybreak, Amy, thank You. The U s

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<v Speaker 1>military says it's recovered significant debrief from that suspected spy balloon,

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<v Speaker 1>but there's still a lot we don't know about the

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<v Speaker 1>other objects taken down over the US and Canada. That's

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<v Speaker 1>according to Republican Congressman Dusty Johnson of South Dakota, who

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<v Speaker 1>sits on the House China Select Committee. He wants to

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<v Speaker 1>know more about China's motivations. Are they trying to probe

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<v Speaker 1>our defenses? And is this the kind of traffic that's

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<v Speaker 1>always been there and we're just doing a better job

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<v Speaker 1>of catching it now, or is this a new and

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<v Speaker 1>perhaps more nefarious stage in the relationship between US and

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<v Speaker 1>and whoever is sending them in. Republican Congressman Dusty Johnson

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<v Speaker 1>spoke at our Washington correspondent Joe Matthew on Bloomberg Sound

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<v Speaker 1>on Catch the Show. We days at five pm Eastern

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<v Speaker 1>on Bloomberg Radio, or listen anytime on demand wherever you

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<v Speaker 1>get your podcast. Let's take a look at the oil

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<v Speaker 1>market this morning. Karen Crude is trading lower on news

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<v Speaker 1>at the White House plans to sell more oil from

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<v Speaker 1>the Strategic Petroleum Reserve. We get the story from Bloomberg's

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<v Speaker 1>Charlie Pellett. Delivery is ar estimated to happen between April

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<v Speaker 1>and June's sources say the non emergency sale will amount

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<v Speaker 1>to twenty six million barrels of crude, and as part

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<v Speaker 1>of the congressionally mandated sale the lawmakers approved years ago.

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<v Speaker 1>For the current fiscal year, the Energy Department has sought

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<v Speaker 1>to stop some of the sales required by twenty fifteen

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<v Speaker 1>legislation so it can refill the emergency reserve, which currently

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<v Speaker 1>has about three hundred seventy one million barrels. After this

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<v Speaker 1>latest release, the reserve will dip to about three hundred

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<v Speaker 1>forty five million barrels in New York. Charlie Pellett, Bloomberg Daybreak. Okay, Charlie,

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<v Speaker 1>thanks checking all prices right now. Nimex crudes down one

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<v Speaker 1>point three per cent, or a dollar six at seventy

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<v Speaker 1>barrel Brent is down nine tenths percent at eighty five

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<v Speaker 1>dollars eighty cents. Well. In corporate news this morning, Navan,

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<v Speaker 1>we have more job cuts coming at four The automakers

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<v Speaker 1>said it will eliminate about thirty eight hundred positions across Europe.

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<v Speaker 1>The company's also trimming jobs. In the US, CEO Jim

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<v Speaker 1>Farley targets three billion dollars in savings to help finance

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<v Speaker 1>a shift to electric vehicles. And in India, billionaire Katama

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<v Speaker 1>Donnie's flagship firm reported a profit in the latest quarter

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<v Speaker 1>on the back of improved revenues, even as the company

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<v Speaker 1>grapples with the fallout from a short seller report, which

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<v Speaker 1>has triggered to sell off that's swiped out a hundred

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<v Speaker 1>twenty seven billion dollars in a Donnie's market value. This

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<v Speaker 1>is Bloomberg. It's forty three degrees in New York. We're

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<v Speaker 1>going to get into the fifties today, a high near

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<v Speaker 1>fifty under mostly sunny, breezy sky. Clouds roll in tonight.

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<v Speaker 1>We'll get down to the low forties. Time now to

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<v Speaker 1>take a look at some of the other stories making

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<v Speaker 1>news in New York and around the World with Bloomberg's

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<v Speaker 1>Michael bar Good morning, Michael, Good morning Nathan. Three people

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<v Speaker 1>are dead and five others are wounded after a mass

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<v Speaker 1>shooting on the campus of Michigan State University be An

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<v Speaker 1>East Lansing late last night. Ms U Department of Public

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<v Speaker 1>Safety into ram. Deputy Chief Chris Rosamond says the suspect

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<v Speaker 1>died of a self inflicted gunshot wound. Our hearts are

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<v Speaker 1>with those who have been affected by this senseless act

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<v Speaker 1>of violence. Giving an update like this is never easy.

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<v Speaker 1>As a father, I can only imagine how parents are

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<v Speaker 1>feeling right now. Deputy Chief rosman says. The forty three

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<v Speaker 1>year old suspect has not yet been identified and was

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<v Speaker 1>not a student or employee of the university. New York

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<v Speaker 1>City police are trying to learn more about the sixty

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<v Speaker 1>two year old man who authorities say drove a U

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<v Speaker 1>haul truck, swerved onto sidewalks, and plowed into people in

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<v Speaker 1>a Brooklyn Bay Ridge neighborhood yesterday. One person was killed

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<v Speaker 1>and eight others were injured. Police eventually arrested the driver

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<v Speaker 1>after a chase. His son identified him as Wings Sorp,

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<v Speaker 1>a troubled man with a history of harmful behavior and

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<v Speaker 1>stints behind barns in my d Commissioner keeaching Seoul. At

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<v Speaker 1>this time, we have no indication that there is any

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<v Speaker 1>terrorism involvement in this incident. So Or was living in

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<v Speaker 1>Las Vegas, where he was convicted of stabbing his own

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<v Speaker 1>brother in Yesterday's attack. Comes as a prosecutor told New

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<v Speaker 1>York jurors that the man convicted of killing eight people

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<v Speaker 1>when he drove a van onto a busy Manhattan bike

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<v Speaker 1>path in seventeen should be executed. It would be the

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<v Speaker 1>state's first in six decades for the federal crime. The

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<v Speaker 1>same jury that convicted Cipulo Sipop will hear testimony from

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<v Speaker 1>the relatives of victims throughout the week. Around thirty six

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<v Speaker 1>thousand people are confirmed dead in the earthquake that devastated

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<v Speaker 1>Turkey and Syria, and aid workers fear the final death

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<v Speaker 1>soul could double that any rescue teams have abandoned the

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<v Speaker 1>search for survivors. However, humanitarian aid continues. New York City's

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<v Speaker 1>third legal cannabis dispensary open yesterday near Union Square. The

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<v Speaker 1>Union Square Travel Agency is an effort involving the nonprofit

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<v Speaker 1>Dove Fund. More than fifty percent of the profits will

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<v Speaker 1>go to the Doe Fund, which provides housing and jobs

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<v Speaker 1>to formally incarcerated or homeless people Global Needs twenty four

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<v Speaker 1>hours a day, powered by more than twenty seven hundred

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<v Speaker 1>journalists and analysts and over a hundred twenty countries. I'm

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<v Speaker 1>Michael bar This is Bloomberg NA. Thank you, Michael our

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<v Speaker 1>Bloomberg Sports Update Now it's brought to you if I

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<v Speaker 1>try stayed out. Good morning, John Stash, Morning Nathan. But

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<v Speaker 1>a long time since the Knicks beat the Nets. Got

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<v Speaker 1>to go back to January of pre COVID was after

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<v Speaker 1>the day Kobe Bryant passed away. Since then, nine straight

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<v Speaker 1>wins by Brooklyn, all but two were in single digits

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<v Speaker 1>at the Guard and Knicks finally beat the Nets one

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<v Speaker 1>oh six. Jalen Brunson again led the way forty points.

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<v Speaker 1>He shot fifteen of twenty one made six of nine

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<v Speaker 1>three pointers. Is Former Villanova teammate Josh Hart has already

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<v Speaker 1>making an impact with his new team. Second game as

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<v Speaker 1>a Nick, Hart off the inch for twenty seven point

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<v Speaker 1>Spencer Dinwood. He led Brooklyn with twenty eight. Both the

0:10:04.520 --> 0:10:06.920
<v Speaker 1>Knicks and Nets play tomorrow. It's the final games for

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<v Speaker 1>them before the all Star Break kind of amazing that

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<v Speaker 1>Brunson is as of now not slated to play in

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<v Speaker 1>the All Star Game, but Boston's Jalen Brown is currently

0:10:15.559 --> 0:10:18.760
<v Speaker 1>injured may need a replacement as pictures and catchers get

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<v Speaker 1>ready to report and spring training the Mets tomorrow the Yankees.

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<v Speaker 1>On Thursday, MLB announced the ghost runner staying put. The

0:10:25.559 --> 0:10:28.160
<v Speaker 1>role was put in back in twenty The COVID season

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<v Speaker 1>has remained will now be permanent, although only in the

0:10:31.240 --> 0:10:35.320
<v Speaker 1>regular season extra innings starting with a runner as second base.

0:10:35.679 --> 0:10:37.920
<v Speaker 1>Andy Reid just won a second Super Bowl, was asked

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<v Speaker 1>about retirement. Look in the mirror and I'm old. Um My,

0:10:41.360 --> 0:10:43.160
<v Speaker 1>my heart though was young. I mean, I still enjoy

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<v Speaker 1>doing what I'm doing. I got askt fifty times here

0:10:46.360 --> 0:10:48.720
<v Speaker 1>and finally I just go whatever, man, you know whatever,

0:10:49.160 --> 0:10:51.480
<v Speaker 1>And that's a that's a good friends is a good friend.

0:10:51.520 --> 0:10:53.880
<v Speaker 1>So I mean, he's probably telling me to get my

0:10:53.920 --> 0:10:57.280
<v Speaker 1>tale out. I'm too old, but I'm good with what

0:10:57.320 --> 0:10:59.559
<v Speaker 1>I'm doing right now. Blazer had reported on Fox that

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<v Speaker 1>Read would retire. Super Bowl ratings app the audience averaged

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<v Speaker 1>a hundred and thirteen million third most watch. John Stashower

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<v Speaker 1>Bloomberg Sports Live from coast to coast, from New York

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<v Speaker 1>to San Francisco, Boston to Washington, d C. Nationwide on Sirius, xamp,

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<v Speaker 1>the Bloomberg Business app, and Bloomberg dot Com. This is

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<v Speaker 1>Bloomberg Daybreak. Good morning. I'm Nathan Hagar on a morning

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<v Speaker 1>where investors maybe holding their breath just a bit while

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<v Speaker 1>we wait for the latest reading on inflation. The Consumer

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<v Speaker 1>Price Index for the month of January is due out

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<v Speaker 1>at eight thirty Wall Street time, just a little more

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<v Speaker 1>than three hours from now. Ahead of it, we're joined

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<v Speaker 1>right now by Michael Houston, the chief market analyst at

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<v Speaker 1>CMC Markets. Michael, it's always great to speak with you.

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<v Speaker 1>The consensus when you check the Eco go function on

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<v Speaker 1>the Bloomberg terminal, is calling for another drop in year

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<v Speaker 1>over year inflation, but pretty significant jump when you look

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<v Speaker 1>at the month to month number. What kind of market

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<v Speaker 1>reaction could we see if we hit that consensus this morning?

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<v Speaker 1>I think I think the consensus, Nathan, is pretty much

0:12:03.720 --> 0:12:06.640
<v Speaker 1>priced in. I think what's not priced in is the

0:12:06.679 --> 0:12:10.120
<v Speaker 1>mismatch that we've seen between bond markets, the dollar, and

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<v Speaker 1>stock markets since that payrolls report hit the tape. Cast

0:12:14.640 --> 0:12:17.880
<v Speaker 1>your mind back to the third of February, which is

0:12:17.920 --> 0:12:22.160
<v Speaker 1>obviously when we got that bumper payrolls number. UM two

0:12:22.240 --> 0:12:25.520
<v Speaker 1>year yields have gone from four point zero three percent

0:12:25.600 --> 0:12:28.679
<v Speaker 1>to four point five. The dollar's gone up. So it's

0:12:28.679 --> 0:12:32.120
<v Speaker 1>the NEZTAC and the SMP five, So you know, there

0:12:32.200 --> 0:12:34.320
<v Speaker 1>is a little bit of there's a little bit of

0:12:34.360 --> 0:12:38.880
<v Speaker 1>a divergence there. They both. They can't all be right.

0:12:39.080 --> 0:12:40.920
<v Speaker 1>Try and get my words out. They can't all be right.

0:12:41.000 --> 0:12:43.800
<v Speaker 1>So either the stock market is right and we're heading

0:12:43.840 --> 0:12:47.520
<v Speaker 1>for the soft landing, or the bond market is right

0:12:47.520 --> 0:12:49.880
<v Speaker 1>and the Fed is going to continue to hike by

0:12:49.960 --> 0:12:53.280
<v Speaker 1>much more than the stock markets are pricing in. I'm

0:12:53.320 --> 0:12:55.800
<v Speaker 1>of the opinion that the warm weather or the warmer

0:12:55.920 --> 0:12:59.160
<v Speaker 1>weather that we saw in January is likely to see

0:12:59.280 --> 0:13:02.480
<v Speaker 1>much more resilient and inflation data, much more resilient jobs data,

0:13:03.120 --> 0:13:05.960
<v Speaker 1>and later this week potentially much at more resilient retail

0:13:05.960 --> 0:13:09.760
<v Speaker 1>sales numbers. And that's slightly to mean that the federal

0:13:09.800 --> 0:13:12.520
<v Speaker 1>reserve is likely to hike by at least another fifty

0:13:12.520 --> 0:13:14.760
<v Speaker 1>basis points between now and the summer, and the market

0:13:14.800 --> 0:13:18.680
<v Speaker 1>is not pricing that interesting because we have heard from

0:13:18.679 --> 0:13:22.760
<v Speaker 1>a number of analysts that we could see at least

0:13:22.800 --> 0:13:26.080
<v Speaker 1>two hikes from this Federal reserve before things start to

0:13:26.120 --> 0:13:29.199
<v Speaker 1>pull back, either at the end of this year early next.

0:13:29.240 --> 0:13:32.559
<v Speaker 1>What has you thinking that that the market hasn't fully

0:13:32.600 --> 0:13:36.360
<v Speaker 1>gotten that message just yet, just just the behavior I

0:13:36.400 --> 0:13:40.680
<v Speaker 1>think of the SMP and the nastac um. You're looking

0:13:40.720 --> 0:13:42.520
<v Speaker 1>at a US two year old and four and up

0:13:42.559 --> 0:13:44.840
<v Speaker 1>between four and a half and four and three quarters percent,

0:13:44.920 --> 0:13:47.760
<v Speaker 1>and certainly I think there's potential for yields to go

0:13:47.840 --> 0:13:50.160
<v Speaker 1>up quite a bit. The FED funds rate it's already

0:13:50.160 --> 0:13:51.960
<v Speaker 1>pretty much where the two year yield rate is. So

0:13:52.000 --> 0:13:54.480
<v Speaker 1>if you're working on the basis of a terminal rate

0:13:54.480 --> 0:13:57.880
<v Speaker 1>of around about five point to five, and certainly an

0:13:57.880 --> 0:14:00.680
<v Speaker 1>awful lot of the narrative from a number of FED

0:14:00.720 --> 0:14:06.400
<v Speaker 1>speakers suggests that's the case, then why would you buy um? Uh?

0:14:06.559 --> 0:14:10.040
<v Speaker 1>You know, US US equities? They are already very fairly

0:14:10.160 --> 0:14:14.520
<v Speaker 1>highly valued, and the earnings numbers, profits growth isn't particularly

0:14:14.520 --> 0:14:18.319
<v Speaker 1>great relative to their valuations, So why are we heading

0:14:18.400 --> 0:14:21.720
<v Speaker 1>higher when it comes to US markets? It doesn't compute.

0:14:21.720 --> 0:14:24.920
<v Speaker 1>There's an awful lot going on at the moment in

0:14:24.960 --> 0:14:27.680
<v Speaker 1>these markets that suggest to me that there's a slight

0:14:27.760 --> 0:14:30.840
<v Speaker 1>disconnect and what stock investors are looking at and what

0:14:30.920 --> 0:14:34.200
<v Speaker 1>the bond markets are looking at. What's the possibility Michael,

0:14:34.200 --> 0:14:37.680
<v Speaker 1>that we could see a harder than expected inflation reading

0:14:37.720 --> 0:14:39.560
<v Speaker 1>And if we do, what could that mean from markets?

0:14:40.880 --> 0:14:44.320
<v Speaker 1>I think it's quite high. You're probably going to enend

0:14:44.400 --> 0:14:45.640
<v Speaker 1>up with a little bit of egg on my face.

0:14:45.680 --> 0:14:48.640
<v Speaker 1>But I think that certainly core prices and I think

0:14:48.640 --> 0:14:51.320
<v Speaker 1>it's core prices we need to be focused on yet, Nathan.

0:14:51.760 --> 0:14:55.400
<v Speaker 1>Core prices could come in maybe potentially between five point

0:14:55.440 --> 0:14:57.240
<v Speaker 1>six and five point seven. I don't think we're going

0:14:57.240 --> 0:15:02.160
<v Speaker 1>to get seen much significant softness there. Headline numbers completely

0:15:02.160 --> 0:15:04.480
<v Speaker 1>different story. But we're not looking at headline numbers anymore.

0:15:04.480 --> 0:15:08.240
<v Speaker 1>So we're looking potentially not point five, not point six

0:15:09.240 --> 0:15:12.920
<v Speaker 1>excluding food and energy, potentially an upward revision to December

0:15:13.240 --> 0:15:16.520
<v Speaker 1>and five point six five point seven on the annual basis,

0:15:16.520 --> 0:15:20.440
<v Speaker 1>And I think that could potentially send us higher and

0:15:20.560 --> 0:15:23.840
<v Speaker 1>knock the NASTAC and near some feedback down again. And

0:15:23.880 --> 0:15:27.880
<v Speaker 1>if we were to get that scenario, would that be

0:15:28.080 --> 0:15:31.760
<v Speaker 1>a blip? Do you think in what we're seeing in inflation?

0:15:31.880 --> 0:15:36.120
<v Speaker 1>What's the trajectory that we're looking at for inflation right now?

0:15:36.840 --> 0:15:40.400
<v Speaker 1>The trajectory is still for a slowdown in the pace

0:15:40.440 --> 0:15:44.680
<v Speaker 1>of inflation, but it's really about um the pace of

0:15:44.720 --> 0:15:47.520
<v Speaker 1>that trajectory. I don't think anyone disputes that inflation is

0:15:47.560 --> 0:15:49.920
<v Speaker 1>coming down. It's just that I think markets would like

0:15:50.000 --> 0:15:52.800
<v Speaker 1>to think that it will go it will come down

0:15:52.840 --> 0:15:55.240
<v Speaker 1>as quickly as it went up, and I'm of the

0:15:55.280 --> 0:15:57.800
<v Speaker 1>opinion that that is unlikely to happen. You've only got

0:15:57.800 --> 0:16:01.120
<v Speaker 1>to look at what wage growth has been doing, only

0:16:01.400 --> 0:16:03.160
<v Speaker 1>not only in the U S but here in the UK.

0:16:03.320 --> 0:16:05.440
<v Speaker 1>I mean, average wage growth in the private sector here

0:16:05.440 --> 0:16:09.280
<v Speaker 1>in the UK is at seven point five percent. Oh yeah,

0:16:09.400 --> 0:16:12.800
<v Speaker 1>cp I is over ten. But that is going to

0:16:12.840 --> 0:16:16.160
<v Speaker 1>filter through going forward, and certainly I think as we

0:16:16.240 --> 0:16:19.160
<v Speaker 1>head into the summer, wage growth is going to remain

0:16:19.200 --> 0:16:21.960
<v Speaker 1>sticky and that is going to keep the FED, I

0:16:22.000 --> 0:16:24.600
<v Speaker 1>would suggest, quite hawkish over the course of the next

0:16:24.600 --> 0:16:29.080
<v Speaker 1>three to six mons. This is Bloomberg Daybreak Today, your

0:16:29.120 --> 0:16:31.640
<v Speaker 1>morning brief on the story is making news from Wall

0:16:31.680 --> 0:16:34.640
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0:17:11.680 --> 0:17:15.080
<v Speaker 1>Nathan Hager and I'm Karen Moscow. Join us again tomorrow

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<v Speaker 1>morning for all the news you need to start your

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<v Speaker 1>day right here on Bloomberg Daybreak