WEBVTT - Bloomberg Daybreak: March 28, 2022 - Hour 2 (Radio) 0:00:03.000 --> 0:00:05.800 Life from the Bloomberg and directed Burger Studios. This is 0:00:05.800 --> 0:00:10.480 Bloomberg Daybreak for Monday, March two. Coming up this hour, 0:00:10.760 --> 0:00:13.720 another round of peace talks gets under way between Ukraine 0:00:13.760 --> 0:00:16.200 and Russia. The White House tries to walk back President 0:00:16.280 --> 0:00:19.760 Biden's comments on Vladimir Putin, and in markets, the steepest 0:00:19.760 --> 0:00:22.520 global bond route of the modern era shows no signs 0:00:22.520 --> 0:00:26.520 of slowing. The January sixth Panel files contempt cases against 0:00:26.600 --> 0:00:30.200 two former Trump allies. Plus it made Academy Awards history, 0:00:30.240 --> 0:00:33.520 but not even good way. I'm Michael bar More straight ahead, 0:00:33.960 --> 0:00:36.680 I'm John Stashdown Swards, Kyrie evering first home game, the 0:00:36.760 --> 0:00:38.960 Nets lost wins with the Knicks and Rangers, and the 0:00:39.080 --> 0:00:41.480 n C Double eight tournament is down to the final four. 0:00:44.000 --> 0:00:47.840 That's all straight ahead on Bloomberg day Break on Bloomberg 0:00:47.840 --> 0:00:52.800 Element TREEO, New York, Bloomberg one, Washington, d C, Bloomberg 0:00:52.800 --> 0:00:56.560 one oh six one, Boston, Bloomberg nine sixties, San Francisco, 0:00:56.920 --> 0:01:00.280 Sirius x M one nineteen and around the world lone, 0:01:00.320 --> 0:01:07.880 Bloomberg Radio dot Com and via The Bloomberg Business. Good Morning, 0:01:07.880 --> 0:01:11.600 I'm Nathan Hagar, and I'm Karen Moscow and futures are 0:01:11.840 --> 0:01:14.240 little changed to start the week. We're coming up to 0:01:14.280 --> 0:01:15.920 six o one on Wall Street. I'm gonna check the 0:01:15.959 --> 0:01:19.280 markets every fifteen minutes throughout the trading day. On Bloomberg 0:01:19.319 --> 0:01:22.520 and SNP futures little change to lower, down about four 0:01:22.560 --> 0:01:26.160 points now. Dall futures also that will change and NASDACK 0:01:26.240 --> 0:01:29.160 futures are down forty two The tenure treasury down eight 0:01:29.160 --> 0:01:32.400 thirty seconds, yield two point five zero percent, and they 0:01:32.480 --> 0:01:35.480 yield on the two year two point three six percent. 0:01:35.920 --> 0:01:38.559 Nine night Screwed oil is down three point nine percent, 0:01:38.600 --> 0:01:40.800 down four dollars forty one cents and a hundred nine 0:01:40.800 --> 0:01:43.559 dollars forty nine cents of barrel. Nathan, all right, Karen, 0:01:43.560 --> 0:01:45.520 we'll have more in markets in a minute. But first, 0:01:45.600 --> 0:01:49.760 peace talks between Ukraine and Russia resumed this week in Turkey. 0:01:50.160 --> 0:01:53.040 The meetings come as several cities in Ukraine continue to 0:01:53.120 --> 0:01:56.120 take heavy fire. We get more from Bloomberg Managing editor 0:01:56.200 --> 0:01:59.640 Dan ten Kate Lenski is out again speaking about what 0:01:59.720 --> 0:02:03.240 Duke would be willing to discuss in these talks. One, 0:02:03.480 --> 0:02:07.160 you know, ready to declare neutrality abandoned, the push to 0:02:07.240 --> 0:02:11.040 join NATO. Vow not to develop nuclear weapons. And you know, 0:02:11.080 --> 0:02:13.280 the key one is basically saying that they're willing to 0:02:13.320 --> 0:02:16.920 talk about that Dombus region where Russia really had troops 0:02:16.919 --> 0:02:19.880 already before the war started. And this is sort of 0:02:19.919 --> 0:02:22.960 an acknowledgement from the Ukrainians that, Okay, you know, maybe 0:02:22.960 --> 0:02:25.799 we could move the troops back to the positions where 0:02:25.840 --> 0:02:29.040 they were pre war. Bloomberg's Danten Kate reports that talks 0:02:29.080 --> 0:02:32.720 resumed while heavy explosions were heard in several Ukrainian cities overnight. 0:02:32.760 --> 0:02:36.080 Local authorities expect civilians to keep fleeing the devastated city 0:02:36.120 --> 0:02:39.359 of Marapol, and Nathan knows. Peace talks, however, are being 0:02:39.400 --> 0:02:42.680 overshadowed by comments made by President Biden. Some off the 0:02:42.680 --> 0:02:47.160 cover marks about Russian President Vladimir Putin are garnering serious attention. 0:02:47.440 --> 0:02:50.520 And here's what the President said Saturday. For God's sake, 0:02:50.919 --> 0:02:55.480 this man cannot remain Almost immediately the White House tried 0:02:55.520 --> 0:02:58.200 to walk back those words, and we get more from Bloomberg, 0:02:58.240 --> 0:03:02.240 said Baxter. The president's as he was not advocating regime 0:03:02.360 --> 0:03:05.160 change in Russia and that he was just answering a 0:03:05.240 --> 0:03:08.680 reporter's question earlier in the day Secretary of State Anthony 0:03:08.720 --> 0:03:11.600 Blancott also walked back the original statement. We do not 0:03:11.680 --> 0:03:15.240 have a strategy of regime change in Russia or anywhere 0:03:15.240 --> 0:03:17.680 else for that matter. Now, the US Ambassador to NATO, 0:03:17.840 --> 0:03:21.320 Julianne Smith, says the President had spent all day with refugees, 0:03:21.400 --> 0:03:25.440 listening to heartbreaking stories. In the moment, I think that 0:03:25.639 --> 0:03:28.920 was a principled human reaction to the stories that he 0:03:29.000 --> 0:03:32.400 had heard that day. But French President of Anya mccron 0:03:32.600 --> 0:03:36.440 is warning against words or actions that could inflame the region. 0:03:37.080 --> 0:03:40.160 In San Francisco, I'm at Baxter Bloomberg Gay Break and thanks. 0:03:40.200 --> 0:03:42.800 Let's turn to President Biden's agenda back home now. The 0:03:42.800 --> 0:03:46.080 White House releases its budget proposal today. It's expected to 0:03:46.120 --> 0:03:49.680 detail the minimum tax rate for households worth more than 0:03:49.720 --> 0:03:52.880 one million dollars. Amy Morris has the details from our 0:03:52.880 --> 0:03:56.280 Bloomberg room in Washington. The White House calls it the 0:03:56.320 --> 0:04:00.080 Billionaire Minimum Income Tax. It's the most aggressive proposed so 0:04:00.280 --> 0:04:04.160 yet by the administration to increase taxation on the wealthiest Americans. 0:04:04.520 --> 0:04:06.760 If enacted, it will hit both the income and the 0:04:06.880 --> 0:04:10.600 unrealized capital gains of hundred million dollar households and generate 0:04:10.640 --> 0:04:14.000 an estimated three hundred sixty billion dollars in new revenue 0:04:14.080 --> 0:04:16.440 over the next decade. That's more than a third of 0:04:16.480 --> 0:04:19.159 the White House has projected trillion dollar cut to deficit 0:04:19.240 --> 0:04:22.240 spending over that period. In Washington, I maybe more as 0:04:22.240 --> 0:04:25.279 Bloomberg daybreak all right, Amy, thank you. The economy also 0:04:25.400 --> 0:04:28.600 in focus this week Friday brains the government's Johns Report 0:04:28.680 --> 0:04:31.360 for March, and we get more from Bloomberg's Vineydale Jude 0:04:31.400 --> 0:04:35.159 I's US unemployment is poised to fall, with jobless claims 0:04:35.240 --> 0:04:38.760 the lowisons in the nineteen sixties and job openings at records. 0:04:39.040 --> 0:04:41.120 The March trade could go as low as three point 0:04:41.200 --> 0:04:44.160 six or three point seven percent. According to some forecasters. 0:04:44.600 --> 0:04:47.440 Unemployments at a record high of fourteen point seven percent 0:04:47.480 --> 0:04:50.920 in April one, the pandemic struck the record load two 0:04:51.000 --> 0:04:54.400 point five percent dates back to the nineteen fifties. Also 0:04:54.520 --> 0:04:58.640 this week, I s M factory data, consumer spending, consumer confidence, 0:04:58.880 --> 0:05:02.200 beneath birth day break right if Anny, thanks fixed incomes 0:05:02.240 --> 0:05:04.520 front and center this morning. Is the steepest global bond 0:05:04.600 --> 0:05:06.880 route of the modern era, shows no signs of slowing. 0:05:07.160 --> 0:05:09.200 Ten Your treasury yields have climbed past two and a 0:05:09.240 --> 0:05:12.120 half percent. Yields on five year notes rose above those 0:05:12.160 --> 0:05:14.800 on thirty year bonds, an inversion for those maturities for 0:05:14.880 --> 0:05:18.000 the first time since two thousand six. That suggests concern 0:05:18.120 --> 0:05:21.479 over an economic downturn and perhaps even a recession. Nathan, 0:05:21.560 --> 0:05:24.160 We are seeing big moves in the Japanese yen this morning. 0:05:24.240 --> 0:05:26.200 That's after the Bank of Japan offered to buy an 0:05:26.279 --> 0:05:29.600 unlimited amount of bonds for three straight days. It's the 0:05:29.680 --> 0:05:31.560 first time the central bank has made such a move. 0:05:31.640 --> 0:05:33.760 And checking the yen, it's trading at the weakest level 0:05:33.839 --> 0:05:36.720 in seven years, at one d twenty four point two 0:05:36.760 --> 0:05:40.040 nine against the dollar. I Meantime, Karen COVID's threatening economic 0:05:40.120 --> 0:05:43.840 activity in China again. Shanghai has declared a lockdown to 0:05:43.920 --> 0:05:46.840 combat a surge in cases. We get details from Bloomberg's 0:05:46.839 --> 0:05:50.680 Emma O'Brien locking down for four days one part of 0:05:50.800 --> 0:05:54.240 the city, which does include the financial district in Podong, 0:05:54.560 --> 0:05:57.160 and then the next four days after that locking down 0:05:57.200 --> 0:05:59.320 the other side of the city. And during those four 0:05:59.400 --> 0:06:02.400 day period is they will be mass testing the entire 0:06:02.520 --> 0:06:06.400 population as part of China's COVID zero strategy, which they 0:06:06.440 --> 0:06:10.480 are maintaining to really root out and suppress virus cases. 0:06:10.600 --> 0:06:13.680 Bloombergs M O'Brien says lockdowns will extend to the roads. 0:06:13.880 --> 0:06:17.840 Private cars won't be allowed to drive unless necessary, and 0:06:17.920 --> 0:06:21.039 the lockdown will hit production for Tesla and China. Nathan 0:06:21.080 --> 0:06:23.920 Bloomberg News has learned the Electric carmaker is extending a 0:06:24.040 --> 0:06:27.120 production pause at a Shanghai plan for another four days 0:06:27.200 --> 0:06:29.600 because of the restrictions, and the original plan called for 0:06:29.720 --> 0:06:32.960 suspending production for just one day anytime. In southern China, 0:06:33.040 --> 0:06:35.920 Karen investigators have now recovered the second black box from 0:06:36.000 --> 0:06:39.360 last week's deadly China Eastern plane crash. All one thirty 0:06:39.400 --> 0:06:41.640 two people on board were killed when the jet nose 0:06:41.720 --> 0:06:44.640 dived from nearly thirty thousand feet. We get the latest 0:06:44.720 --> 0:06:48.600 from bloom Bloomberg's Philip Glenman. Investigators in wood out here 0:06:48.640 --> 0:06:52.040 in southern China have a big booster investigations by planning 0:06:52.120 --> 0:06:55.160 the second black box that gives them information on the 0:06:55.520 --> 0:06:57.880 movement of the plane and the performance of the engine. 0:06:58.360 --> 0:07:02.160 And it goes along with the black earlier that records 0:07:02.160 --> 0:07:05.480 of what was said in mccocks bid. Philip Bloombergs Philip 0:07:05.560 --> 0:07:07.720 Glaman says the flight data recorder has been sent to 0:07:07.800 --> 0:07:10.200 pay Jing for analysis. I want to pass along this 0:07:10.320 --> 0:07:12.800 red headline just across the Bloomberg terminal Tesla to ask 0:07:12.840 --> 0:07:15.760 holders to vote on more shares for a stock split. 0:07:16.480 --> 0:07:24.160 You're listening to Bloomberg Daybreak. It sounds six oh seven 0:07:24.240 --> 0:07:27.040 on Wall Street. We're twenty four degrees in central parking, 0:07:27.040 --> 0:07:29.120 seeing fifteen to twenty minute delays in the upper level 0:07:29.120 --> 0:07:31.760 of George Washington Bridge inbound. The tails coming up in traffic. 0:07:32.080 --> 0:07:34.360 First Michael Barr with more on what's going on in 0:07:34.440 --> 0:07:36.120 New York and around the world. Come what are Michael? 0:07:36.160 --> 0:07:39.560 Good morning, Nathan. The January sixth Panel says two as 0:07:39.560 --> 0:07:42.960 advisors to former President Donald Trump should be held into 0:07:42.960 --> 0:07:46.440 contempt of Congress. The panel says they are withholding information 0:07:46.800 --> 0:07:49.600 at the House committee considers central to its investigation of 0:07:49.720 --> 0:07:53.200 events surrounding last year's attack on the US capital. The 0:07:53.280 --> 0:07:56.640 report from the investigating committee named former wine House Deputy 0:07:56.720 --> 0:08:00.960 Chief of Staff for Communications Dan Scovino and Trump's trade 0:08:01.000 --> 0:08:04.080 adviser Peter Navarro. The panel is set to me tonight 0:08:04.240 --> 0:08:08.120 vote on the recommendations. The Academy Emotion, Picture Arts and 0:08:08.320 --> 0:08:11.640 Sciences says it does not condone violence in any form 0:08:11.680 --> 0:08:15.680 after fireworks at Sunday Nights Oscars. Minutes before accepting his 0:08:15.840 --> 0:08:19.640 Best Actor award, Will Smith slapped presenter Chris Rock on 0:08:19.840 --> 0:08:23.480 stage after taking events to a joke about his wife Jada. 0:08:23.640 --> 0:08:26.120 I love him, g I Jane too. Can't wait to 0:08:26.160 --> 0:08:37.040 see it all right? That was a nice okay about him? 0:08:37.360 --> 0:08:46.520 Oh Richard oh Wow. Smith later accepted the Best Actor 0:08:46.640 --> 0:08:50.040 award for King. Richard Hell said to me a few 0:08:50.080 --> 0:08:53.160 minutes ago, he said, at your highest moment, be careful. 0:08:53.240 --> 0:08:57.920 That's when the devil comes for you. Jessica Chastain won 0:08:58.000 --> 0:09:00.439 the Best Actress award the movie Code a Stream on 0:09:00.559 --> 0:09:03.480 Apple One for Best Picture. The Cinderella team of the 0:09:03.600 --> 0:09:06.079 n C Double A men's basketball tournament will still get 0:09:06.080 --> 0:09:09.400 a hero roes welcome. After being illuminated. St. Peter's University 0:09:09.480 --> 0:09:12.719 lost to North Carolina, The Peacocks made tournament history as 0:09:12.800 --> 0:09:15.960 the first fifteen seed to reach the Elite eight. Fans 0:09:16.080 --> 0:09:19.240 back home in Jersey City watched the game, cheering for 0:09:19.480 --> 0:09:22.440 how far the team advanced. They had a great season. 0:09:22.640 --> 0:09:25.520 You really can't say nothing bad about it, Jersey City 0:09:25.559 --> 0:09:28.840 Mayor Stephen Phillips said on Twitter after the Peacocks historic 0:09:28.880 --> 0:09:31.800 tournament run, the city would still hold a parade and 0:09:32.000 --> 0:09:35.160 the Keys to the City ceremony for the team. Global 0:09:35.240 --> 0:09:37.719 News twenty four hours a day on air and on 0:09:37.800 --> 0:09:41.680 Bloomberg Quicktake, powered by more than twenty seven hundred journalists 0:09:41.679 --> 0:09:44.080 and analysts and more than a hundred twenty countries. I'm 0:09:44.080 --> 0:09:51.640 Michael bar This is Bloomberg, Nathan. Thanks Michael six o 0:09:51.800 --> 0:09:54.160 nine on Wall Street Time for the Bloomberg Sports Update. 0:09:54.160 --> 0:09:56.679 Here's John Stashow actuate that it's the Nets. It was 0:09:56.760 --> 0:09:58.880 the Nets thirty six home game of the season. It 0:09:59.000 --> 0:10:01.680 was the first I reerving his story, well known as 0:10:01.800 --> 0:10:04.760 refusal to get the vaccine hot topic not only in 0:10:04.840 --> 0:10:07.320 sports but at city hall. Last week the private sector 0:10:07.440 --> 0:10:10.719 mandate lifted for him at least, and Kyrie took the 0:10:10.760 --> 0:10:12.800 floor in Brooklyn. My presence out there, which is bigger 0:10:12.840 --> 0:10:15.160 than the basketball game, you know, which is representing a 0:10:15.240 --> 0:10:17.280 lot of individuals that are out there in a similar 0:10:17.920 --> 0:10:20.480 situation of game um and now that oct to play, 0:10:20.679 --> 0:10:22.520 I think it should be open work for everybody. I 0:10:22.559 --> 0:10:25.199 don't take it for granted. Laugh and tonight it was 0:10:25.240 --> 0:10:27.560 his story. I'm great for that. I got a chance 0:10:27.600 --> 0:10:29.000 to be out there with my brothers and the game 0:10:29.040 --> 0:10:31.480 did not go well. Irving shot just six of twenty two. 0:10:31.640 --> 0:10:34.400 The Nets came off a blowout win in Miami, lost 0:10:34.440 --> 0:10:37.079 to Charlotte one nineteen and one ten. Almost certainly two 0:10:37.120 --> 0:10:38.880 little too late for the next playoff host, but they 0:10:38.880 --> 0:10:40.600 are playing better of late at three and o road. 0:10:40.720 --> 0:10:42.520 If they held on at Detroit one oh four one 0:10:42.559 --> 0:10:45.040 oh two, Knicks blew at twenty one point. Lad Alec 0:10:45.080 --> 0:10:46.640 Burk's the hero down the stretch. He had a big 0:10:46.720 --> 0:10:49.160 three and that a game saving steel at the Garden 0:10:49.600 --> 0:10:52.679 Rangers over Buffalo five for the KeAndre Miller gold two 0:10:52.679 --> 0:10:55.200 minutes in overtime. The recent Ranger picked up Frank Petrano 0:10:55.640 --> 0:10:58.640 scored two goals eighteen seconds apart the first period. Islanders 0:10:58.720 --> 0:11:01.760 lost Devil's top Montreal to shootout. As we just started 0:11:01.760 --> 0:11:04.480 the news, the clock struck midnight for Cinderella. St. Peter's 0:11:04.559 --> 0:11:06.880 lost fights twenty to North Carolina and the Peacocks could 0:11:06.920 --> 0:11:10.240 now be losing their coach. Shaneen Holloway is widely expected 0:11:10.280 --> 0:11:12.560 to leave to go coach to his alma mater, Seaton Hall. 0:11:12.640 --> 0:11:15.040 For Carolina, it will be its twenty one final four 0:11:15.559 --> 0:11:18.400 and will now play arch rival Dukes sixteenth Final four 0:11:18.480 --> 0:11:21.079 for Kansas, who crushed Miami, will now take on Glanova. 0:11:21.400 --> 0:11:23.600 Met said their aces on a mound. Jacob Degraham three 0:11:23.600 --> 0:11:26.520 at names then Max jers Or for six together twelve strikeouts, 0:11:26.559 --> 0:11:28.920 and I met when the Yankees won. Although there he's 0:11:29.000 --> 0:11:31.000 Garrett Cole. You have a couple of home runs. John 0:11:31.080 --> 0:11:34.080 stash Award Bloomberg Sports, Nathan Okay, John, thanks right now. 0:11:34.240 --> 0:11:36.640 S and P futures are down three point, Staff futures 0:11:36.720 --> 0:11:39.480 up four, NASTAC futures down thirty four points. The tenure 0:11:39.520 --> 0:11:42.280 treasury is down seven thirty seconds. The yield two point 0:11:42.400 --> 0:11:46.000 five zero percent. Watching shares of Tesla, they're up nearly 0:11:46.160 --> 0:11:49.280 three percent. The electric carmaker says we'll ask shareholders to 0:11:49.400 --> 0:11:52.599 vote on more shares to enable the stock split. Just 0:11:52.720 --> 0:11:55.640 announced that on Twitter. Says the vote will come at 0:11:55.720 --> 0:11:59.679 this year's annual meeting. Stay with us. You're listening to 0:12:00.000 --> 0:12:09.840 Bloomberg Taper Bloomberg eleven three oh Weather partly sunny, breezy, 0:12:09.920 --> 0:12:14.120 mid thirties today, mostly sunny, breezy, near forty tomorrow mid 0:12:14.240 --> 0:12:17.880 forties with increasing clouds on Wednesday. Right now, twenty four 0:12:17.920 --> 0:12:24.560 degrees in Central Park markets, headlines and breaking news twenty 0:12:24.600 --> 0:12:27.400 four hours a day at Bloomberg dot Com, the Bloomberg 0:12:27.480 --> 0:12:30.400 Business apt and at Bloomberg Quick Tape. This is a 0:12:30.440 --> 0:12:40.040 Bloomberg Business Flash. But I'm Cameron Moscow. Sovereign balls are 0:12:40.080 --> 0:12:44.000 tumbling while European stocks are gaining. In US stock Index, 0:12:44.080 --> 0:12:47.319 futures are little changed as economic risks from inflation and 0:12:47.400 --> 0:12:50.760 tightening monetary policy hits sentiment. We checked the markets every 0:12:50.800 --> 0:12:53.480 fifteen minutes throughout the trading day on Bloomberg S and 0:12:53.520 --> 0:12:56.040 P Future is little change this morning, so we're down 0:12:56.120 --> 0:12:59.880 futures NASDACK futures down eighteen the decks in Germany's up 0:13:00.000 --> 0:13:04.000 one point seven percent, ten year treasury down six thirty seconds, 0:13:04.080 --> 0:13:06.840 the yeld two point four nine percent, and the yield 0:13:06.920 --> 0:13:09.760 on the two year two point three six percent. Checking 0:13:09.840 --> 0:13:13.199 the thirty year yield two point five nine percent. Nine 0:13:13.240 --> 0:13:16.200 Max Screte oil is falling this morning, down four points 0:13:16.280 --> 0:13:18.880 three percent on four dollars eighty eight cents at a 0:13:18.960 --> 0:13:22.600 hundred nine dollars two cents of barrel Brent also moving lower, 0:13:22.720 --> 0:13:25.640 down three point nine percent. It's at a hundred sixteen 0:13:25.679 --> 0:13:28.960 dollars and one cent of barrel comics. Gold is down 0:13:29.040 --> 0:13:32.000 one and a quarter percent, down twenty four dollars, twenty 0:13:32.120 --> 0:13:35.280 cents at one thousand, nine hundred thirty five dollars, sixty 0:13:35.480 --> 0:13:38.720 cents an ounce. The Euro this morning one point oh 0:13:38.960 --> 0:13:42.000 nine eight zero against the dollar, the British pound one 0:13:42.040 --> 0:13:45.760 point three one four three, the yen one twenty four 0:13:45.880 --> 0:13:49.480 point to eight. And checking bitcoin this morning, it's moving higher, 0:13:49.880 --> 0:13:53.920 up two point four percent. It's at forty seven thousand, 0:13:54.040 --> 0:13:58.319 two hundred thirty three dollars, and that's a Bloomberg business flash. 0:13:58.400 --> 0:14:00.439 Now here's Michael Barr with more on what's going on 0:14:00.559 --> 0:14:04.120 around the world. Michael, thank you very much. Karen, Ukrainian 0:14:04.200 --> 0:14:06.480 and Russian officials announced they have agreed to a new 0:14:06.600 --> 0:14:09.080 round of in person peace stalks to be held in Turkey. 0:14:09.520 --> 0:14:12.640 It comes as the White House walks back comments President 0:14:12.720 --> 0:14:16.000 Biden made about Vladimir Putin, saying this man cannot remain 0:14:16.120 --> 0:14:20.960 in power. Meanwhile, Ukraine President Zelinski accused the West of cowardice, 0:14:21.320 --> 0:14:23.560 while the northern top officials said Russia was trying to 0:14:23.640 --> 0:14:28.520 split the nation into like North and South Korea. It's 0:14:28.600 --> 0:14:32.040 the water cooler talk today. During last night's Academy Awards. 0:14:32.080 --> 0:14:36.880 Will Smith slapped Chris Rock on stage after the comedian 0:14:36.920 --> 0:14:40.760 made a joke about Smith's wife, Jada Pinkett Smith Smith 0:14:40.920 --> 0:14:44.240 Leader won the Best Actor Oscar Jessica Chastain won for 0:14:44.320 --> 0:14:47.880 Best Actress. Coda from the Apple streaming Service one for 0:14:48.040 --> 0:14:52.400 Best Picture, and as for Best Director, Jane Champion won 0:14:52.520 --> 0:14:55.640 that award for Power of the Dome. The final four 0:14:55.840 --> 0:14:58.680 set in the men's NZ Double A basketball Tournament, North 0:14:58.760 --> 0:15:02.920 Carolina plays due Kansas will face Villanova in the NBA. 0:15:03.160 --> 0:15:05.840 Kyrie Irving played his first home game of the season, 0:15:06.280 --> 0:15:09.360 but the Nets lost. The Nicks and Celtics won. The 0:15:09.400 --> 0:15:12.400 Wizards beat the Warriors. In the NHL, the Rangers won 0:15:12.440 --> 0:15:15.960 in ot over the Sabers five four. The Devil's won 0:15:16.000 --> 0:15:18.600 in the shoot out over the Canadiens three to The 0:15:18.720 --> 0:15:22.360 Islanders lost. Global News twenty four hours a day on 0:15:22.520 --> 0:15:25.880 air and on Bloomberg Quicktake, powered by more than twenty 0:15:25.960 --> 0:15:28.640 seven hundred journalists and analysts and more than one hundred 0:15:28.680 --> 0:15:32.880 twenty countries. I'm Michael Barr, and this is Bloomberg. Nathan Okay, Michael. 0:15:32.880 --> 0:15:34.920 Thanks at six twenty on Wall Straight Line from the 0:15:34.920 --> 0:15:38.840 Bloomberg interracted Broker Studios. This is Bloomberg Daybreak and we're 0:15:38.880 --> 0:15:42.720 joined now by Bloomberg Washington correspondent Amory Hordern with us 0:15:42.840 --> 0:15:46.480 live from Warsaw, where President Biden made some news at 0:15:46.520 --> 0:15:49.680 the end of his whirlwind trip to Europe aimed at 0:15:50.040 --> 0:15:52.880 shoring up support from allies in the war in Ukraine, 0:15:53.320 --> 0:15:55.720 but certainly not the news that the White House was 0:15:55.800 --> 0:15:58.840 looking for, obviously, and Marie, good morning. We're still talking 0:15:58.880 --> 0:16:01.120 about those nine were its that came at the end 0:16:01.160 --> 0:16:03.520 of what the President had hoped would be a historic 0:16:03.640 --> 0:16:07.720 speech in Warsaw. What is the potential fallout now from 0:16:07.720 --> 0:16:11.520 the President saying, for God's sake, this man, Vladimir Putin 0:16:11.880 --> 0:16:16.640 must not remain in power. Well, immediately after those words 0:16:16.680 --> 0:16:19.480 were spoken, we obviously saw the White House walking its 0:16:19.520 --> 0:16:22.800 back saying this is not a regime change policy. We 0:16:22.920 --> 0:16:25.880 also heard that from the Secretary of State Anthony Blanken, 0:16:26.120 --> 0:16:29.840 who's currently in Israel for some landmark a meeting. He 0:16:30.040 --> 0:16:32.400 was asked about this, and he said, the United States 0:16:32.440 --> 0:16:34.640 doesn't have a policy of regime change in Russia or 0:16:34.640 --> 0:16:37.280 in any country for that matter. And then the President 0:16:37.360 --> 0:16:41.120 himself was asked leaving church yesterday in Washington, d C. Sir, 0:16:41.480 --> 0:16:44.200 when you said this man president who change, not remanipold 0:16:44.560 --> 0:16:47.840 regime change. No, the issue is, and what you're hearing 0:16:47.880 --> 0:16:50.600 in Europe say is people taking note that they want 0:16:50.640 --> 0:16:53.080 to de escalate the situation and they're worried that that 0:16:53.280 --> 0:16:58.320 type of rhetoric would embolden the Kremlin, embolden their propaganda 0:16:58.360 --> 0:17:02.960 agenda inside the country, and that would escalate the conflict. 0:17:03.280 --> 0:17:06.000 So that's a situation now at the moment. I'm sure 0:17:06.040 --> 0:17:07.960 the President is going to be asked about this a 0:17:08.080 --> 0:17:10.440 number of times again this week, And yeah, we're gonna 0:17:10.480 --> 0:17:12.679 be hearing from the White House again this afternoon as 0:17:12.760 --> 0:17:16.359 they released the president's budget proposal, probably hoping for that 0:17:16.560 --> 0:17:20.879 to take some of the attention off this news. But Anne, Marie, 0:17:21.040 --> 0:17:23.879 this trip that the President made was aimed at showing 0:17:24.359 --> 0:17:28.840 that the US and NATO are more united than ever before. 0:17:28.960 --> 0:17:33.800 When you have now leaders in NATO walking themselves back 0:17:34.119 --> 0:17:37.480 from the president's remarks, does that sort of undermine the 0:17:37.600 --> 0:17:43.280 president's mission? I think it does in the short term. Right, 0:17:43.359 --> 0:17:45.560 you have a mind in Malcolm saying we shouldn't escalate 0:17:45.640 --> 0:17:49.240 with words or actions. You have Alf Scholt saying I 0:17:49.320 --> 0:17:51.720 have spoken to US President about this. There is no 0:17:52.480 --> 0:17:56.600 NATO a central policy of trying to have regime change. 0:17:57.280 --> 0:17:59.520 So in the short term, certainly this is all everyone 0:17:59.600 --> 0:18:02.280 to talk about. After days of diplomacy, after showing the 0:18:02.400 --> 0:18:05.520 United Front and Brussels, the president came here for a 0:18:05.760 --> 0:18:08.800 very fiery speech, and no one is even talking about 0:18:08.840 --> 0:18:11.359 as much the contents that we're in that speech as 0:18:11.440 --> 0:18:15.040 much as those final nine words before he thanked everyone. 0:18:15.880 --> 0:18:18.639 But we should know he did talk about NATO in 0:18:18.720 --> 0:18:22.440 that speech, and he got very dramatic at one point 0:18:22.960 --> 0:18:26.080 and said, don't even think of moving on one single 0:18:26.160 --> 0:18:29.080 inch of NATO territory, and that was met with applause 0:18:29.480 --> 0:18:32.040 from the royal caste of Warsaw, where you know, hundreds 0:18:32.080 --> 0:18:34.520 were gathered to give this speech, because you know, we 0:18:34.640 --> 0:18:37.399 are in Poland, and that is a country that is 0:18:37.480 --> 0:18:39.880 on the border of this war. Is the NATO country 0:18:40.320 --> 0:18:42.600 is a country that already close to the border there 0:18:42.680 --> 0:18:46.200 was missiles from Russia. So that is something that the 0:18:46.240 --> 0:18:49.280 Polish government and people wanted to hear. Uh And so 0:18:49.480 --> 0:18:52.159 in that sense there was his unity amongst NATO. But 0:18:52.280 --> 0:18:56.040 you're certainly right, Nathan, these these less work presidents said, 0:18:56.119 --> 0:18:58.440 is is overshadowing a lot of work that was done here. 0:18:58.800 --> 0:19:00.920 We only have about thirty seconds left here, Emory. What 0:19:00.960 --> 0:19:04.720 does this mean for negotiations as Ukraine and Russia gets 0:19:04.720 --> 0:19:09.080 set to hold talks again tomorrow in Turkey. Well, we 0:19:09.119 --> 0:19:11.760 should remember that Russia has always felt that the United 0:19:11.800 --> 0:19:14.879 States wanted to perpetrate regime change. In two thousand and 0:19:14.920 --> 0:19:18.359 eleven Puttin blame to the US for the protesters that 0:19:18.440 --> 0:19:21.600 were out on the streets for his twelve years of reigning. 0:19:21.760 --> 0:19:24.240 So I think the Kremlin for them this was not 0:19:24.400 --> 0:19:27.040 exactly news, but they just may use it against them. 0:19:27.400 --> 0:19:30.480 When it comes to the diplomacy talk, we should note 0:19:30.560 --> 0:19:32.720 nothing has changed on the ground, so we'll have to 0:19:32.760 --> 0:19:34.520 wait to see if anything can change. And you sit 0:19:34.560 --> 0:19:37.359 down and talk. Thank you for the updated Boomberg's Emory 0:19:37.440 --> 0:19:41.480 horduring with us this morning in Warsaw, Poland. Looking ahead 0:19:41.520 --> 0:19:44.000 to the market open this morning, little change as far 0:19:44.080 --> 0:19:46.960 as futures go, SMP futures are a little changed to 0:19:47.000 --> 0:19:51.080 the upside, Dow futures up nine points, NASAC futures down eleven. 0:19:51.160 --> 0:19:54.199 The ten year treasury is down four thirty seconds now 0:19:54.240 --> 0:19:56.600 with the yield just shy of two point four nine 0:19:56.840 --> 0:19:59.360 per cent yield on the two year two point three 0:19:59.440 --> 0:20:07.960 four Stay with us. You're listening to Bloomberg Daybreak. Bloomberg 0:20:08.000 --> 0:20:10.440 day Break is brought to you by ancient accountants and advisors. 0:20:10.520 --> 0:20:13.680 Challenging times call for proactive advisors who helped minimize taxes, 0:20:13.760 --> 0:20:16.159 increase cash flow, and create opportunities for the future of 0:20:16.200 --> 0:20:23.440 your business. To visit Ancient dot Com broadcasting live from 0:20:23.480 --> 0:20:27.280 the Bloomberg Interactive Broker's studio in New York. Bloomberg E 0:20:27.359 --> 0:20:31.280 Living Freedom to Washington, d C, Bloomberg On to Boston, 0:20:31.440 --> 0:20:35.320 Bloomberg one O six one to San Francisco, Bloomberg sixteen 0:20:35.359 --> 0:20:38.000 to the Country, Sirius XM to the one nine team, 0:20:38.119 --> 0:20:41.600 and around the globe the Bloomberg Business and Bloomberg Radio 0:20:41.720 --> 0:20:51.480 dot Com. This is Bloomberg Daybreak, six thirty on Wall Street. 0:20:51.480 --> 0:20:54.320 Good morning, I'm Nathan Hagar and I'm Karen Moscow, and 0:20:54.359 --> 0:20:56.359 we're just about three hours away from the open of 0:20:56.480 --> 0:20:58.560 US trading. Time for the five things you need to 0:20:58.680 --> 0:21:02.080 notice start your day. A brought to you by Interactive Brokers. 0:21:02.160 --> 0:21:04.920 Up First. Peace talks between Ukraine and Russia resume in 0:21:05.040 --> 0:21:08.400 Turkey this week, but that's being overshadowed by comments from 0:21:08.480 --> 0:21:11.040 President Biden over the weekend. He took aim at the 0:21:11.080 --> 0:21:14.359 leadership of Vladimir Putin. We'll have a different future of 0:21:14.440 --> 0:21:19.520 writer future rooting democracy in principle, open light, decency, indignitive, 0:21:19.600 --> 0:21:25.200 freedom of possibilities. For God's sake, this man cannot remain power. 0:21:25.520 --> 0:21:28.200 And those words are reverberating across Europe. This morning, the 0:21:28.240 --> 0:21:31.080 White House trying to clarify the president's remarks, saying he 0:21:31.240 --> 0:21:35.359 was not calling for regime changes in Russia. Well, critics 0:21:35.400 --> 0:21:38.399 say President Biden's comment is a boost for Putin. We 0:21:38.520 --> 0:21:41.760 get more from Bloomberg International Affairs reporter Mark Champion. The 0:21:41.840 --> 0:21:44.399 words of what they are, they are a gift to 0:21:44.800 --> 0:21:47.119 as and Putin, who has been arguing that this is 0:21:47.320 --> 0:21:50.200 not a war against Ukraine. It's an award to defend 0:21:50.760 --> 0:21:55.240 Russia against Western attempts to destroy Russia. So, you know, 0:21:55.400 --> 0:21:58.680 unfortunately it's a gift to him in propaganda terms. You know, 0:21:58.800 --> 0:22:01.960 when you have a leader who is now seen as 0:22:02.080 --> 0:22:06.680 somewhat isolated, paranoid in Moscow, it really doesn't help to 0:22:06.800 --> 0:22:09.360 suggest that that's the kind of thinking that is going 0:22:09.440 --> 0:22:12.320 on in Washington. Whether or not it is the public position. 0:22:12.400 --> 0:22:15.520 Bloomberg Smart Champion, says one White House officials, suggesting the 0:22:15.560 --> 0:22:18.640 president's remarks were influenced by stories of suffering he heard 0:22:18.680 --> 0:22:22.840 from Ukrainian refugees. Meantime, Nathan back in Washington, the White 0:22:22.880 --> 0:22:26.280 House releases its budget proposal today. It's expected to detail 0:22:26.400 --> 0:22:30.320 a billionaire minimum income tax, which would implement a minimum 0:22:30.400 --> 0:22:34.600