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

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Speaker 2: Good morning, I'm Nathan Hager and I'm John Tucker.

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Speaker 3: Here are these stories we're following today.

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Speaker 4: John, we begin with the latest developments in the war

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Speaker 4: in Ukraine. The US is pushing to control all major

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Speaker 4: future infrastructure and mineral investments in the country.

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Speaker 2: We get more from Bloomberg's Tony Haupin.

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Speaker 5: It would give the US control over very large areas

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Speaker 5: of investments in Ukraine's economy. They're demanding essentially a right

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Speaker 5: of first offer in this agreement that they're drawing up

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Speaker 5: with Kiev that would allow them to control investments into

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Speaker 5: projects such as roads, railways, ports, mines, oil and gas,

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Speaker 5: critical minerals extraction. So it's a pretty enormously extensive list

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Speaker 5: of things. And it will also give the US first

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Speaker 5: claim on profits that were transferred into this special investment

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Speaker 5: fund that's being proposed by Washington, and they would get

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Speaker 5: the profits until it was considered that Ukraine had basically

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Speaker 5: repaid all of the US military and economic support that

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Speaker 5: had been provided since the beginning of the war.

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Speaker 4: Bloombergs Tony Happin says the deal could undermine Ukraine's bid

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Speaker 4: for European Union membership and give the US effective control

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Speaker 4: over investment decisions covering large areas of Ukraine's economy.

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Speaker 3: And meanwhile, Nathan Russian President Vladimir Putin is proposing a

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Speaker 3: UN led transitional administration in Ukraine. Here's Putin speaking through

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Speaker 3: an interpreter.

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Speaker 6: We could discuss under the auspices of the UN, with

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Speaker 6: the US, with European countries, and of course with our

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Speaker 6: partners and friends, the possibility of conducting temporary governance in

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Speaker 6: Ukraine in order to hold democratic elections in order to

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Speaker 6: bring to power a viable government that enjoys the trust

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Speaker 6: of the people and then begin negotiations with them on

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Speaker 6: a peace treaty.

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Speaker 3: Putin also said Runsia is worried about NATO's activities in

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Speaker 3: the Arctic.

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Speaker 4: John Defense Secretary Pete Hegseth is in Asia, specifically the Philippines,

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Speaker 4: for his first trip to the Rea as head of

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Speaker 4: the Pentagon, but he's facing questions about that group chat

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Speaker 4: on signal where he shared an attack timeline for Yemen

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Speaker 4: with top US officials and inadvertently the Atlantic magazine's editor.

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Speaker 2: And I'm quite proud, quite proud of what our.

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Speaker 7: Forces and Sentcom did on that initial series of very

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Speaker 7: effective and devastating strikes and the ongoing campaign that we

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Speaker 7: are undertaking because that is a again on the backs

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Speaker 7: of four years of deferred maintenance and failure and weakness

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Speaker 7: of the Biden administration, we are re establishing deterrens.

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Speaker 4: Defense Secretary Pete Hegseth is facing calls to resign for

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Speaker 4: sharing the attack plans over a commercially available app. A

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Speaker 4: federal judge has ordered Hegseth and other officials to preserve

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Speaker 4: their signal communications over the five days that included the

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Speaker 4: Yemen chat, and.

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Speaker 3: Elon mossays he's planning to slash one trillion dollars in

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Speaker 3: US government spending by the end of May. Must spoke

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Speaker 3: with Fox News.

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Speaker 8: Our goal is to use to DEFSIT by trillion dollars,

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Speaker 8: so from a nominal deficit of two trillion to track

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Speaker 8: cut DEPSIT in half to one trillion, or looked at

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Speaker 8: it in total federal spending, to drop the federal spending

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Speaker 8: from seven trillion.

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Speaker 9: To six trillion.

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Speaker 3: Figures from Elon Musk's own team show they are still

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Speaker 3: far from the one trillion dollar mark. The Doze website

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Speaker 3: lists about twenty two billion dollars in contract savings. The

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Speaker 3: cross cutting efforts to face a series of legal setbacks

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Speaker 3: as judges have halted some of their decisions.

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Speaker 4: And John the Trump administration is making a big move

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Speaker 4: and it's bid to layoff government workers. Multiple agencies, including

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Speaker 4: the Justice and Defense Departments, have filed the lawsuit to

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Speaker 4: invalidate union contracts with federal employees. The suit says the

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Speaker 4: collective bargaining agreements are impeding President Trump's government reform efforts

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Speaker 4: and threatened national security. The American Federation of Government Employees

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Speaker 4: union is calling the case a bullying tactic against quote,

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Speaker 4: hundreds of thousands of patriotic American civil servants.

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Speaker 3: And while Donald Trump he intensifies his global trade war,

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Speaker 3: China's president is meeting with business leaders. Chi Jinping met

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Speaker 3: with more than forty leaders of companies spending, finance, manufacturing,

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Speaker 3: and technology, avowed to improve market access and boost investors

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Speaker 3: sentiment amidst rising tarofs and economic uncertainty.

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Speaker 4: John Secretary of State Marco Rubio is defending the Trump

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Speaker 4: administration's push to expel foreign citizens who have protested against Israel.

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Speaker 4: Speaking to reporters during a visit to Guyana, Rubio said

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Speaker 4: the US may have revoked more than three hundred visas

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Speaker 4: so far.

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Speaker 2: I think it's crazy.

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Speaker 10: I think it's stupid for any country in the world

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Speaker 10: to welcome people into their country. They're going to go

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Speaker 10: to your universities as visitors. They're visitors and say, I'm

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Speaker 10: going to your universities to start a riot. I'm going

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Speaker 10: to your universities to take over a library and harass people.

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Speaker 10: I don't care what movement you're involved in.

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Speaker 4: And Secretary of State Marco Rubio and now lawyers for

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Speaker 4: the detained visa holders say the actions violate their constitutional

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Speaker 4: rights to free speech and do process.

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Speaker 3: And let's turn to the markets. Futures lower right now

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Speaker 3: as we close out another volatile trading week, Gold hit

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Speaker 3: another record as concerns about US tariffs and a winding

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Speaker 3: trade war way on investors. Adam Coohons is the chief

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Speaker 3: investment officer at Winthrop Capital Management.

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Speaker 9: I think we all know that Wall Street obviously likes

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Speaker 9: nothing less than uncertainty. You can get bad news and

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Speaker 9: if it's expected, you know, it doesn't really do much.

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Speaker 9: But uncertainty will drive this higher volatility, higher risk premiums.

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Speaker 3: Winthrop Capital Managements. Adam couhns well. The SMP five hundred

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Speaker 3: is on pace for its worst quarters since twenty twenty three,

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Speaker 3: is down three point two percent so far.

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Speaker 4: There's here today, John. Investors are waiting for another key

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Speaker 4: economic report. It's the Fed's preferred inflation gauge, the PCE deflator.

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Speaker 4: Ahead of that, the head of the Boston Fed says

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Speaker 4: it looks inevitable the tariffs will boost inflation, at least

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Speaker 4: in the near term. Susan Collins says it is appropriate

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Speaker 4: to keep interest rates steady for longer.

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Speaker 11: Looks inevitable that tariffs are going to increase inflation in

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Speaker 11: the near term, and my kind of mortal outlook would

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Speaker 11: be that that could be short lived, with a continuation

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Speaker 11: of some disinflation, but further in the future than I

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Speaker 11: might have expected before.

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Speaker 4: Boston Fed President Susan Collins and other central bankers left

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Speaker 4: interest rates unchanged last week for a second straight meeting, and.

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Speaker 3: The princess to five o seven on Wall Street. It

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Speaker 3: is timed out for a look at some of the

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Speaker 3: others stories making news in New York and around the world.

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Speaker 3: After that, we're joined by Bloomberg's Michael Barr. Michael, Good Morning,

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Speaker 3: Good Morning John. A strong seven point seven magnitude earthquake

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Speaker 3: has rocked me and Mark, causing buildings disway. It caused

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Speaker 3: evacuations in Thailand and Vietnam. Witnesses and Bangkok said the

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Speaker 3: shaking continued for more than a minute, with people fleeing

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Speaker 3: onto the street. There were no immediate reports of casualties.

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Speaker 3: The Greater Bangkok area is home to more than seventeen

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Speaker 3: million people, many of whom live in high rise apartments.

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Speaker 3: You're not welcome here. That's the chilly message that some

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Speaker 3: residents of Greenland are sending to Vice President JD. Vans

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Speaker 3: and Second Lady Ushevans. The two are coming as President

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Speaker 3: Trump once again vows to take over Greenland. This man

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Speaker 3: says Greenland is not for sale, and neither are it's people.

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Speaker 7: He's not welcome to Quenland and he's administrated because he wants.

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Speaker 2: To buy buyers.

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Speaker 7: If he say I want to I don't want to

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Speaker 7: buy you, then he's welcome.

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Speaker 12: Greenland is an autonomous territory but is also a part

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Speaker 12: of the Kingdom of Denmark. President Donald Trump says he

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Speaker 12: will withdraw Representative Elise to Phonix nomination to serve as

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Speaker 12: the US Ambassador to the United Nations, citing republicans narrow

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Speaker 12: hold on the House. In a post on social media,

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Speaker 12: Trump says, with a very tight majority, I don't want

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Speaker 12: to take a chance on anyone else running for Elisa's seat.

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Speaker 12: He went on to say there are others that can

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Speaker 12: do a good job at the United Nations. Wildfires that

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Speaker 12: have been raging in the Carolinas that prompted both evacuations

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Speaker 12: and emergency orders. There are three wildfires burning in North Carolina,

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Speaker 12: including the Black Cove, which is seventeen percent contained. Governor

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Speaker 12: Josh Stein there's.

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Speaker 13: Not enough containment yet, but they are working tiresly in

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Speaker 13: what's encouraging is it's the State for Service, It's the

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Speaker 13: National Force Services. If you're Nian affairs, it's local police,

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Speaker 13: fire departments, everybody coming together.

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Speaker 12: Another wildfire, the Deep Woods is thirty percent contained. Rain

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Speaker 12: and cooler temperatures are helping South Korean firefighters as they

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Speaker 12: battle the country's worst ever wildfires. The chief of the

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Speaker 12: Korea Forest Service says the wildfires in the southeast where

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Speaker 12: eighty five percent contained. The fires have killed twenty eight

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Speaker 12: people and destroyed thousands of houses, factories, vehicles, and other structures.

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Speaker 12: Global news twenty four hours a day and whenever you

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Speaker 12: want it with the Bloomberg News Now Michael Barrn, this

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Speaker 12: is Bloomberg.

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Speaker 3: John all right, Michael, thank you and the Burnses to

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Speaker 3: five ten on Wall Street time down for the Bloomberg

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Speaker 3: Sports Update, brought to you by you Trin State Autie Dealers.

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Speaker 3: Same for that, your Stan Schwartzman.

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Speaker 14: Good morning, John and Nathan. Opening day of the Major

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Speaker 14: League Baseball season saw the Yankees win their fourth trade

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Speaker 14: opener as history was made in the Bronx.

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Speaker 3: Austin Wells is the first Yankee catcher to hit leadoff

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Speaker 3: in a lineup in their franchise history. That is ripped

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Speaker 3: in right back at the wall. See y'all home run.

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Speaker 3: What a start Yankees on top one zip.

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Speaker 2: Ma Thatt's courtesy of ESPN.

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Speaker 14: Wells also becoming the first catcher in baseball history did

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Speaker 14: an opening day leadoff homer. Yankees also getting a homer

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Speaker 14: from Anthony Volpi to beat the Brewers four to two.

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Speaker 14: Mets fall the Astros in Houston three to one. Newest

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Speaker 14: Metwan Soto striking out the tying runs on base in

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Speaker 14: the ninth inning.

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Speaker 2: Then the game.

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Speaker 14: Sodo, though gets a single in two walks in his

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Speaker 14: debut after signing a record fifteen year, seven hundred and

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Speaker 14: sixty five million dollar contract in the off season. Elsewhere,

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Speaker 14: Red Sox knock off the Rangers five to two, Garret

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Speaker 14: Crotchard picking up a no decision in his Socks debut,

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Speaker 14: while will You or Brew goes three for three at

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Speaker 14: a walk in two homers. Nationals dominate the Blue Jays

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Speaker 14: twelve to two, while the Excuse Me Orioles dominate the

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Speaker 14: Blue Jays twelve to two. The Nationals loose to the

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Speaker 14: Phillies seven to three in ten innings. All the higher

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Speaker 14: seeds moving on to the lead eight of the men's

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Speaker 14: NCAA Tournament as Duke beats Arizona, Texas Tech gets past

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Speaker 14: Arkansas on overtime. Florida knocks off Maryland, while Alabama sets

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Speaker 14: a tournament record with twenty five three pointers to dominate

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Speaker 14: byu NBA Action Basers, setting a franchise record. They scored

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Speaker 14: one hundred and sixty two points in a win over

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Speaker 14: the Wizards. Cavaliers win their fifty ninth game of the

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Speaker 14: season by knocking off the Spurs in Cleveland. The Lakers

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Speaker 14: fall to the Bulls by two in Chicago, and for

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Speaker 14: our listeners in New York, you can catch arrangers on

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Speaker 14: the ice tonight as they take on the Anaheim Ducks.

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Speaker 14: Puck drops at ten right here on Bloomberg eleven, three

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Speaker 14: to zero. That's your Bloomberg Sports Update. I'm Dan Schwarzman,

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Speaker 14: John and Nathan.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 2: Good morning, I'm Nathan Hager.

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Speaker 4: As President Donald Trump continues to push for a full

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Speaker 4: seasefire between Russia and Ukraine, he has also been looking

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Speaker 4: to assert more US economic control over the war torn country.

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Speaker 4: It is something the President has been discussing a lot

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Speaker 4: in recent weeks.

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Speaker 15: One of the things we are doing is signing a

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Speaker 15: deal very shortly with respect to rare earth with Ukraine,

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Speaker 15: which they have a tremendous value in rare earth, and

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Speaker 15: we appreciate that.

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Speaker 4: Now Bloomberg News has seen a document that shows the

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Speaker 4: US may want more than just Ukraine's rare earths, looking

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Speaker 4: to control all major investments in infrastructure and natural resources

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Speaker 4: under a revised partnership deal. For more on this and

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Speaker 4: other news coming out of the nation's capital, we are

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Speaker 4: joined by Greg Valier this morning, chief US policy strategist

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Speaker 4: at AGF Investments. It's good to speak with you once again.

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Speaker 4: From the reporting that has been put out there, now,

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Speaker 4: this sounds like a major expansion of what the President

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Speaker 4: has been talking about when it comes to what he

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Speaker 4: wants out of Ukraine.

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Speaker 2: Well, how do you see it?

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Speaker 16: It sure is? I agree, Nathan. I think it's going

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Speaker 16: to be very controversial to expand US economic activity to

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Speaker 16: that level. I'm not sure a Zelensky can buy this.

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Speaker 4: This has been something that has tested the relationship between

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Speaker 4: the US and Ukraine. We saw the blow up in

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Speaker 4: the Oval office last month. What makes you think that

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Speaker 4: President Zelensky could have some difficulty with this?

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Speaker 16: I think his own people. I think the Ukrainian people

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Speaker 16: are going to see that Trump wants to make Ukraine

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Speaker 16: the fifty first state. Forget about Canada, it could be Ukraine.

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Speaker 16: And I think this type of economic activity is going

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Speaker 16: to be viewed as too harsh, too extensive.

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Speaker 4: And we've seen also Russian President Vladimir Putin pushing this

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Speaker 4: idea of a UN sponsored force taking a transitional administration

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Speaker 4: over Ukraine. Early reports that the White House is kind

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Speaker 4: of dismissing that. Where do you see this going now, Greg?

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Speaker 16: I think it's going to last for a while before resolution.

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Speaker 16: I'm not convinced this is going to get wrapped up

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Speaker 16: anytime soon. The Bloomberg story this morning, I think complicates

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Speaker 16: the prospects for getting anything done. So we've got a

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Speaker 16: ways to go well.

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Speaker 4: And this comes, of course, after more than thirty leaders

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Speaker 4: met just yesterday in Paris trying to put out their

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Speaker 4: position on what to do about Ukraine, and it seems

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Speaker 4: like Europe has been on the sidelines. Can Europe sort

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Speaker 4: of reassert itself given what we're learning about what the

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Speaker 4: president is trying to do in Ukraine?

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Speaker 16: I think a bit. I think Macron and others could

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Speaker 16: be intermediaries. But I think again, this proposal that we're

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Speaker 16: seeing this is way too vast for most all of

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Speaker 16: the European leaders.

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Speaker 4: I want to get to the other major story that's

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Speaker 4: been dominating Washington over the last several days. Of course,

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Speaker 4: this signal chat about Yemen war plans or attack plans,

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Speaker 4: as it's been characterized.

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Speaker 16: Now.

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Speaker 4: Defense Secretary Pete Hegseth has continued to face questions about that,

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Speaker 4: even as he's been overseas in Asia.

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Speaker 2: How do you see this playing out in the days

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Speaker 2: to come.

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Speaker 16: Well, I think Hegseth is probably going to hang on.

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Speaker 16: I don't think he's going to be dismissed, although there

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Speaker 16: are a surprisingly large number of Republicans here in Washington

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Speaker 16: who were using the phrase amateur hour, a feeling that

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Speaker 16: has got maybe over his head.

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Speaker 4: How do you view the disclosures that came out of

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Speaker 4: this signal, chat? I mean, the White House has said

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Speaker 4: nothing classified was revealed, but we did see a pretty

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Speaker 4: detail timeline of how these attacks are going to go down.

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Speaker 16: Well, you're right, Nathan, and I think an awful lot

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Speaker 16: of people here feel that this set's a very bad precedent.

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Speaker 16: I'd also add really quickly, there have been some extraordinary

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Speaker 16: moves by Trump to consolidate his power, going after law firms.

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Speaker 16: There's a story this morning going after he going after

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Speaker 16: automakers in the US who try to raise prices. So

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Speaker 16: Trump's going for it this week. This will be remembered

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Speaker 16: as a week where Trump really dramatically increased his power.

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Speaker 4: Do you think these efforts to increase powers you put

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Speaker 4: it are going to have a lasting impact on about

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Speaker 4: thirty seconds left.

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Speaker 16: I think the key as usual is going to be

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Speaker 16: two full number one public opinion and in Trump's numbers

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Speaker 16: aren't bad. They're not great, but they're not bad. And secondly, Republicans,

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Speaker 16: I think a lot of Republicans in private are the

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Speaker 16: wild card. They're beginning to think Trump is overdoing it.

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Speaker 16: I think there may be an effort to try to

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Speaker 16: curb him.

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