1 00:00:02,160 --> 00:00:04,920 Speaker 1: By from the Bloomberg in directive Burgers Studios. This is 2 00:00:04,960 --> 00:00:09,440 Speaker 1: Bloomberg Daybreak for Tuesday, February eight two. Coming up this hour, 3 00:00:09,800 --> 00:00:13,480 Speaker 1: bonds fall and tenure, Treasury yields approach two percent, and 4 00:00:13,600 --> 00:00:17,120 Speaker 1: video abandons its proposed forty billion dollar purchase of arm. 5 00:00:17,239 --> 00:00:19,959 Speaker 1: President Biden says the North Stream two pipeline will be 6 00:00:20,040 --> 00:00:23,360 Speaker 1: stopped if Russia invades Ukraine, and governors in the Northeast 7 00:00:23,440 --> 00:00:27,360 Speaker 1: late plans to discontinue masks and schools. Crime continues to 8 00:00:27,400 --> 00:00:30,280 Speaker 1: surge in New York City, plus the top science adviser, 9 00:00:30,360 --> 00:00:34,000 Speaker 1: the President Biden resigns after bullying his staff. I'd Michael 10 00:00:34,040 --> 00:00:36,760 Speaker 1: blom more ahead, I'm John stashed out in boards some 11 00:00:36,800 --> 00:00:39,839 Speaker 1: other laws for the floundering Knicks, The Devil's Lost Olympic 12 00:00:39,880 --> 00:00:45,440 Speaker 1: Women's hockey Canada beat the US. That's all straight ahead 13 00:00:45,520 --> 00:00:49,240 Speaker 1: on Bloomberg day Break on Bloomberg eleven, TREEO, New York, 14 00:00:49,400 --> 00:00:54,120 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 15 00:00:54,280 --> 00:00:58,480 Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nine 16 00:00:58,560 --> 00:01:01,520 Speaker 1: Team and around the world Old on Bloomberg Radio dot 17 00:01:01,600 --> 00:01:08,040 Speaker 1: Com and via the Bloomberg business or good morning. I'm 18 00:01:08,160 --> 00:01:11,720 Speaker 1: Nathan Hagar and I'm Karen Moscow, and US futures and 19 00:01:11,880 --> 00:01:14,520 Speaker 1: bond yields are rising this morning. We're coming up to 20 00:01:14,560 --> 00:01:16,319 Speaker 1: five oh one on Wall Street. We checked the markets 21 00:01:16,319 --> 00:01:19,560 Speaker 1: every fifteen minutes throughout the trading day on Bloomberg right now, 22 00:01:19,680 --> 00:01:22,319 Speaker 1: S and P futures are up five points, Death futures 23 00:01:22,360 --> 00:01:25,160 Speaker 1: up sixty six. NAS Dead future is little changed. The 24 00:01:25,240 --> 00:01:28,160 Speaker 1: decks in Germany's up about half percent and the tenure 25 00:01:28,200 --> 00:01:32,360 Speaker 1: Treasury down six thirty seconds. YELD one point nine three percent. Nathan, Karen, 26 00:01:32,440 --> 00:01:34,800 Speaker 1: let's begin with the bond market this morning. As you mentioned, 27 00:01:34,880 --> 00:01:38,000 Speaker 1: yields are rising, with the ten year approaching two percent. 28 00:01:38,319 --> 00:01:41,000 Speaker 1: It has some predicting levels as high as three percent 29 00:01:41,120 --> 00:01:44,759 Speaker 1: by years end. Janet Mooey and Bruin Dolphin Investment says 30 00:01:44,800 --> 00:01:47,800 Speaker 1: we may soon see a buying opportunity. Would you think 31 00:01:47,840 --> 00:01:51,480 Speaker 1: that there's still loss of appetite for US treasuries. I 32 00:01:51,520 --> 00:01:53,760 Speaker 1: think if bonds were to move to two and a 33 00:01:53,800 --> 00:01:56,120 Speaker 1: half percent, say, I think that would be much more interest. 34 00:01:56,440 --> 00:01:58,560 Speaker 1: We may get there, but I do think that three 35 00:01:58,560 --> 00:02:02,560 Speaker 1: percent since a bit far ruined Dolphins Jane movie, He says, 36 00:02:02,600 --> 00:02:06,360 Speaker 1: treasuries are reaching levels that could soon entice institutional investors. 37 00:02:07,040 --> 00:02:10,600 Speaker 1: Well Nathan Incorporate news this morning, SoftBank says it's planning 38 00:02:10,639 --> 00:02:13,000 Speaker 1: an I p O for ARM. The move comes after 39 00:02:13,040 --> 00:02:16,119 Speaker 1: a video abandoned a proposed acquisition of the chip designer, 40 00:02:16,160 --> 00:02:19,080 Speaker 1: and we get more from Bloomberg's Peter Elstrom in Tokyo. 41 00:02:19,360 --> 00:02:22,840 Speaker 1: Invidia had run into many regulatory headwinds as I was 42 00:02:22,919 --> 00:02:26,600 Speaker 1: trying to purchase the chip designer ARM. The UK had 43 00:02:26,600 --> 00:02:29,800 Speaker 1: pushed back the U S regulators had said that they 44 00:02:29,800 --> 00:02:33,079 Speaker 1: would oppose the deal also, and many customers had voiced 45 00:02:33,160 --> 00:02:36,800 Speaker 1: opposition to the deal. Bloomberg's Peter Elmstrom says in video 46 00:02:36,919 --> 00:02:39,960 Speaker 1: originally announced the forty billion dollar acquisition of ARM back 47 00:02:40,000 --> 00:02:43,120 Speaker 1: in September. Of Arms headed for an I p O 48 00:02:43,280 --> 00:02:46,080 Speaker 1: by March of next year. Let's turn earnings now Karen. 49 00:02:46,160 --> 00:02:48,560 Speaker 1: Shares of BP are up one and a half percent. 50 00:02:48,600 --> 00:02:51,359 Speaker 1: In London, the company reported its highest profit in almost 51 00:02:51,400 --> 00:02:54,040 Speaker 1: a decade thanks to surging oil and gas prices. We 52 00:02:54,080 --> 00:02:57,120 Speaker 1: spoke with BP CEO Bernard Looney. What I will say 53 00:02:57,200 --> 00:03:01,560 Speaker 1: is at the Manda Strom and you can um easily 54 00:03:01,600 --> 00:03:07,040 Speaker 1: see a further tightening market throughout this year, but more 55 00:03:07,080 --> 00:03:10,280 Speaker 1: than anything, I think we should expect some volatility BPC 56 00:03:10,600 --> 00:03:12,959 Speaker 1: over our Looty says the company is boosting its share 57 00:03:13,000 --> 00:03:16,000 Speaker 1: by back program and also promising to accelerate a transition 58 00:03:16,040 --> 00:03:18,919 Speaker 1: to cleaner energy. Up next, Nathan, we get earnings in 59 00:03:18,960 --> 00:03:22,040 Speaker 1: the US from about two dozen companies that includes a 60 00:03:22,080 --> 00:03:25,880 Speaker 1: beaten down stock that's seen a recent lift on takeover speculation. 61 00:03:26,080 --> 00:03:29,360 Speaker 1: Bloomberg's Tom Buzby has more and results from Peloton, the 62 00:03:29,400 --> 00:03:32,840 Speaker 1: maker of high end at home exercise machines, reports second 63 00:03:32,919 --> 00:03:36,480 Speaker 1: quarter results after the closing bell today. Bloomberg estimates that 64 00:03:36,560 --> 00:03:39,520 Speaker 1: revenue will be one point one four billion dollars and 65 00:03:39,600 --> 00:03:42,280 Speaker 1: it will post an adjusted loss of a dollar seventeen 66 00:03:42,280 --> 00:03:45,040 Speaker 1: per share. That's despite still having two point eight million 67 00:03:45,120 --> 00:03:49,000 Speaker 1: subscribers to its fitness sessions. Now. Shares have lost eighty 68 00:03:49,080 --> 00:03:51,680 Speaker 1: percent of their value since January of last year after 69 00:03:51,760 --> 00:03:55,600 Speaker 1: lockdowns ended and sales slumped, But just yesterday shares shut 70 00:03:55,680 --> 00:03:58,840 Speaker 1: up twenty one percent on reports it's a takeover target 71 00:03:59,160 --> 00:04:03,600 Speaker 1: reportedly get interest from Apple, Amazon, and Nike. Tom Busby 72 00:04:03,600 --> 00:04:06,480 Speaker 1: Bloomberg Daybreak and Tom we have breaking news right now 73 00:04:06,520 --> 00:04:09,840 Speaker 1: on Peloton. The company CEO John fully is stepping down 74 00:04:09,880 --> 00:04:12,760 Speaker 1: to become executive chairman. That's according to the Wall Street Journal. 75 00:04:13,040 --> 00:04:15,600 Speaker 1: Turning to geo politics, now, Nathan, it's all about Russia 76 00:04:15,640 --> 00:04:18,480 Speaker 1: and Ukraine. President Biden is vowing to end the nord 77 00:04:18,520 --> 00:04:22,440 Speaker 1: Stream to pipeline between Russia and Germany if Moscow invades Ukraine, 78 00:04:22,440 --> 00:04:25,480 Speaker 1: and Bloomberg said Baxter has the story. President Biden is 79 00:04:25,520 --> 00:04:28,960 Speaker 1: saying that pipeline and invasion don't go together. The notion 80 00:04:29,320 --> 00:04:33,159 Speaker 1: that north Stream tea would go north Stream two would 81 00:04:33,200 --> 00:04:38,480 Speaker 1: go forward with an invasion by the Russians just not 82 00:04:38,600 --> 00:04:41,360 Speaker 1: going to happen. Biden says that US and Germany are 83 00:04:41,440 --> 00:04:44,560 Speaker 1: in perfect unity, and he adds Russia needs the supply 84 00:04:44,720 --> 00:04:49,040 Speaker 1: channel as badly as Europe does. In San Francisco, I'm 85 00:04:49,080 --> 00:04:51,880 Speaker 1: at Baxter Bloomberg Daybreak, all right, at thanks US. China 86 00:04:52,000 --> 00:04:54,200 Speaker 1: tensions are also in the spotlight today. The White House 87 00:04:54,279 --> 00:04:56,960 Speaker 1: is calling out Beijing for not media it's trade promises. 88 00:04:57,000 --> 00:05:00,400 Speaker 1: Amy Morris has that from our Bloomberg newsroom in one Shington, 89 00:05:00,760 --> 00:05:02,880 Speaker 1: China has failed to hold up its end of the 90 00:05:02,920 --> 00:05:06,560 Speaker 1: trade agreement reached during the Trump administration. Did not meet 91 00:05:06,560 --> 00:05:09,240 Speaker 1: the purchasing targets in the agreement. Which it pledged to 92 00:05:09,240 --> 00:05:12,800 Speaker 1: buy an extra two hundred billion dollars in US agriculture, energy, 93 00:05:13,040 --> 00:05:16,960 Speaker 1: and manufactured products over two years. Sources tell Bloomberg the 94 00:05:17,000 --> 00:05:20,080 Speaker 1: talks are ongoing, but now the Biden administration wants trying 95 00:05:20,080 --> 00:05:23,680 Speaker 1: to take concrete action. White House officials say this illustrates 96 00:05:23,720 --> 00:05:26,560 Speaker 1: the limits of the Phase one deal inherited from the 97 00:05:26,560 --> 00:05:30,719 Speaker 1: Trump administration in Washington. I'm Amy Morris, Bloomberg Daybreak, Amy, 98 00:05:30,720 --> 00:05:32,920 Speaker 1: thank you Now. The politics of a different kind involving 99 00:05:32,960 --> 00:05:35,880 Speaker 1: a high profile billionaire in social media. Peter till is 100 00:05:36,000 --> 00:05:38,719 Speaker 1: leaving the board of Facebook apparent Meta in order to 101 00:05:38,760 --> 00:05:42,120 Speaker 1: pursue Donald Trump's agenda again. More from Bloomberg's Doug Chrisner. 102 00:05:42,240 --> 00:05:45,320 Speaker 1: Teal has advised Meta co founder Mark Zuckerberg for nearly 103 00:05:45,400 --> 00:05:48,560 Speaker 1: two decades. Teal became a director in two thousand five 104 00:05:48,680 --> 00:05:51,800 Speaker 1: after an early investment in Facebook. We are told Teal 105 00:05:51,880 --> 00:05:55,560 Speaker 1: now plans to increase political support for former President Trump's 106 00:05:55,600 --> 00:05:59,760 Speaker 1: agenda during the election, and he doesn't want his political 107 00:05:59,760 --> 00:06:03,320 Speaker 1: act ativities to be a distraction for Facebook. Teal's focus 108 00:06:03,360 --> 00:06:06,560 Speaker 1: will be on backing Republican candidates for U S. Senate 109 00:06:06,640 --> 00:06:10,560 Speaker 1: aligned with Trump, names like Blake Masters of Arizona and J. 110 00:06:10,720 --> 00:06:13,320 Speaker 1: D Vance of Ohio. In New York, I'm Doug Christener 111 00:06:13,360 --> 00:06:16,160 Speaker 1: Bloomberg Daybreak, All right, Doug. Thanks turning to the pandemic now, 112 00:06:16,200 --> 00:06:19,680 Speaker 1: some governors are moving to discontinue masks in schools. Let's 113 00:06:19,680 --> 00:06:21,960 Speaker 1: get the latest on that Live from Bloomberg. Uned A Young, 114 00:06:22,000 --> 00:06:24,640 Speaker 1: Good morning, Rina, Good morning Nathan. These governors believe the 115 00:06:24,720 --> 00:06:28,839 Speaker 1: need for masks is outweighed by widespread vaccination, lower transmission, 116 00:06:28,880 --> 00:06:32,880 Speaker 1: and the need for unimpeded instruction. Connecticut Governor Ned Lamont 117 00:06:32,920 --> 00:06:35,400 Speaker 1: says the state will end its mask mandate for schools 118 00:06:35,400 --> 00:06:37,680 Speaker 1: and daycares at the end of this month. New Jersey 119 00:06:37,720 --> 00:06:40,800 Speaker 1: will end its mask mandate next month, and Delaware is 120 00:06:40,839 --> 00:06:44,120 Speaker 1: moving quicker, ending indoor mask requirements on Friday and in 121 00:06:44,200 --> 00:06:46,160 Speaker 1: schools at the end of the month. But here in 122 00:06:46,160 --> 00:06:49,839 Speaker 1: New York, Governor Cathy Hocle may make soon move similar, 123 00:06:50,520 --> 00:06:54,080 Speaker 1: although she has yet to announce a date to end restructions. 124 00:06:54,480 --> 00:06:56,800 Speaker 1: Live in New York, I'm rened a Young Bloomberg day Break, 125 00:06:56,839 --> 00:06:58,960 Speaker 1: All right, Rineda. Thanks right now. S and p futures 126 00:06:58,960 --> 00:07:01,719 Speaker 1: are up five points, Future is up sixty three. Nastack 127 00:07:01,760 --> 00:07:04,799 Speaker 1: Futures highed by two points. The tenure Treasury is down 128 00:07:05,000 --> 00:07:08,680 Speaker 1: five thirty seconds. The yield one point nine yield on 129 00:07:08,720 --> 00:07:11,360 Speaker 1: the two year right now one point three one percent. 130 00:07:11,840 --> 00:07:14,320 Speaker 1: Checking bitcoin, it is lower on the session forty three 131 00:07:14,720 --> 00:07:17,640 Speaker 1: seven hundred dollars. Local headlines and a check of sports. 132 00:07:17,720 --> 00:07:24,560 Speaker 1: Up next, This is Bloomberg. That brings us to five 133 00:07:24,600 --> 00:07:27,680 Speaker 1: oh seven On Wall Street. We've got an accident investigation. 134 00:07:27,760 --> 00:07:30,520 Speaker 1: Room fifty nine is closed going through Spring Valley. Details 135 00:07:30,560 --> 00:07:32,920 Speaker 1: coming up in traffic. First, Michael Barr is here with 136 00:07:32,960 --> 00:07:34,680 Speaker 1: more on what's going on in New York and around 137 00:07:34,720 --> 00:07:37,560 Speaker 1: the world. Good morning, Michael, Good morning Nathan. Crime continues 138 00:07:37,600 --> 00:07:40,120 Speaker 1: to surge in New York City. According to data from 139 00:07:40,160 --> 00:07:44,000 Speaker 1: the NYPD, the city so a nearly six increase in 140 00:07:44,000 --> 00:07:46,520 Speaker 1: the past week alone compared to this time last year. 141 00:07:46,920 --> 00:07:50,600 Speaker 1: Police say the highest jump in cases included car thefts. 142 00:07:50,680 --> 00:07:54,680 Speaker 1: Since January one, The NYPD s says that overall crime 143 00:07:54,760 --> 00:07:59,440 Speaker 1: has gone up over the top. Science advisor to President 144 00:07:59,520 --> 00:08:02,560 Speaker 1: Joe Biden resigned after he was revealed he violated the 145 00:08:02,560 --> 00:08:07,040 Speaker 1: White Houses Stay Safe workplace policies. Eric Lander apologized after 146 00:08:07,080 --> 00:08:10,600 Speaker 1: being accused of bullying his staff. White House spokeswoman Jen 147 00:08:10,680 --> 00:08:14,440 Speaker 1: Psaki says Lander was given the same rigorous confirmation process 148 00:08:14,520 --> 00:08:18,360 Speaker 1: as other appointees, and no serious concerns about his behavior 149 00:08:18,480 --> 00:08:22,040 Speaker 1: had been raised. Dr Lander's record was thoroughly examined as 150 00:08:22,040 --> 00:08:24,960 Speaker 1: a part of his confirmation, and he received bipartisan support, 151 00:08:25,280 --> 00:08:28,960 Speaker 1: including final confirmation with a voice vote. But again, once 152 00:08:28,960 --> 00:08:30,960 Speaker 1: we were made aware of the complaint, we launched to 153 00:08:30,960 --> 00:08:35,160 Speaker 1: throw investigations. Spokeswoman Jen Psaki. Former President Trump may face 154 00:08:35,320 --> 00:08:39,079 Speaker 1: charges for breaking the Presidential Records Act. According to the 155 00:08:39,200 --> 00:08:42,360 Speaker 1: National Larchives, Trump brought records with him to his Moral 156 00:08:42,440 --> 00:08:45,400 Speaker 1: Lago resort that he should have turned over, as well 157 00:08:45,440 --> 00:08:48,080 Speaker 1: as ripping up documents AIDS had to tape back together. 158 00:08:48,480 --> 00:08:51,280 Speaker 1: The head of the January six Committee, Chairman Benny Thompson, 159 00:08:51,320 --> 00:08:54,280 Speaker 1: was asked if there are any documents his committee knows 160 00:08:54,280 --> 00:08:59,480 Speaker 1: are missing, and we get an um, quite a bit 161 00:08:59,520 --> 00:09:05,400 Speaker 1: of a mason from our chive, so it's it's chairman. 162 00:09:05,440 --> 00:09:08,640 Speaker 1: Thompson says. Any evidence of criminal activity will be sent 163 00:09:08,679 --> 00:09:11,640 Speaker 1: to the Justice Department. The Supreme Court has put on 164 00:09:11,720 --> 00:09:14,840 Speaker 1: hold a lower court ruling that Alabama must draw new 165 00:09:14,880 --> 00:09:20,120 Speaker 1: congressional districts before the two elections. It boosts Republican chances 166 00:09:20,160 --> 00:09:23,000 Speaker 1: to hold six of the state's seven seats in the 167 00:09:23,000 --> 00:09:26,640 Speaker 1: House of Representatives. Only one district now will likely elect 168 00:09:26,679 --> 00:09:31,959 Speaker 1: a black representative state, which has seven congressional districts. Black 169 00:09:32,320 --> 00:09:37,320 Speaker 1: Canadian Prime Minister Justin Trudeau ripped Trucker's protests over COVID rules. 170 00:09:37,559 --> 00:09:41,120 Speaker 1: The demonstrations have paralyzed Ottawa and have now halted commercial 171 00:09:41,160 --> 00:09:44,280 Speaker 1: traffic to the US at the busiest border crossing between 172 00:09:44,280 --> 00:09:48,040 Speaker 1: the two countries, The Ambassador Bridge that connects Windsor, Ontario 173 00:09:48,120 --> 00:09:51,760 Speaker 1: with Detroit, is a crucial artery for auto parts suppliers 174 00:09:51,800 --> 00:09:55,280 Speaker 1: and manufacturers. Global News twenty four hours a day on 175 00:09:55,360 --> 00:09:58,120 Speaker 1: air and on Bloomberg Quick Tank, powered by more than 176 00:09:58,160 --> 00:10:00,559 Speaker 1: twenty seven hundred journalists and analyst more than a hundred 177 00:10:00,559 --> 00:10:03,880 Speaker 1: twenty countries. I'm Michael Barr. This is Bloomberg. Nathan. Okay, Michael, 178 00:10:03,920 --> 00:10:10,360 Speaker 1: thank you, Almost five ten on Wall Street. Time for 179 00:10:10,360 --> 00:10:12,760 Speaker 1: the Bloomberg Sports Up. Take Good morning, John Stannshower, All right, 180 00:10:12,800 --> 00:10:15,240 Speaker 1: Good morning. Nathan Knicks. Third straight loss. They've had three 181 00:10:15,640 --> 00:10:18,080 Speaker 1: three game losing streaks just in the last month. Good 182 00:10:18,120 --> 00:10:20,800 Speaker 1: start at Utah, Nicks led by twelve. They've never seem 183 00:10:20,880 --> 00:10:24,160 Speaker 1: able to put together four good quarters. Only thirteen points 184 00:10:24,600 --> 00:10:27,200 Speaker 1: in the third quarter that overtime lost Saturday the Lakers 185 00:10:27,280 --> 00:10:29,480 Speaker 1: and only eighteen and the fourth quarter. Last night, the 186 00:10:29,559 --> 00:10:32,559 Speaker 1: Jazz one one thirteen one of four is Donovan Mitchell 187 00:10:32,559 --> 00:10:35,240 Speaker 1: scored thirty two points. Julius Randall had thirty for the Knicks, 188 00:10:35,600 --> 00:10:38,199 Speaker 1: who play again tonight in Denver. Slumping nets home for 189 00:10:38,280 --> 00:10:40,920 Speaker 1: the Celtics. Brooklyn's lost eight in a row. Devil's back 190 00:10:40,960 --> 00:10:43,280 Speaker 1: from the All Star Break lost in Ottawa four to one. 191 00:10:43,400 --> 00:10:45,800 Speaker 1: College jokes with the a SEC the last time Virginia 192 00:10:46,200 --> 00:10:49,079 Speaker 1: would visit Duke with Mike Chazowski, the Blue Devil's coach 193 00:10:49,160 --> 00:10:53,720 Speaker 1: Cavaliers trailed by two with five with four Clark five 194 00:10:53,760 --> 00:11:02,520 Speaker 1: Speakman fires the three French point seven seconds to go, 195 00:11:03,080 --> 00:11:08,960 Speaker 1: oh my goodness, goodness, the silence is defy Cameron Indoor. 196 00:11:09,040 --> 00:11:11,679 Speaker 1: Vir Jinior Radio had the call Us still without a 197 00:11:11,720 --> 00:11:14,959 Speaker 1: gold medal the Olympics, although Nathan Shan certainly seems headed 198 00:11:15,040 --> 00:11:17,319 Speaker 1: for one in men's figure skinning his short program the 199 00:11:17,400 --> 00:11:20,720 Speaker 1: best ever Women's hockey, Canada beat the US four two. 200 00:11:20,760 --> 00:11:22,640 Speaker 1: They're likely to meet again next week for the gold medal. 201 00:11:23,000 --> 00:11:25,480 Speaker 1: A US resident one of gold medal, but eighteen year 202 00:11:25,480 --> 00:11:27,719 Speaker 1: old Eileen Goo, who has lived her entire life in 203 00:11:27,760 --> 00:11:31,000 Speaker 1: San Francisco, chose to compete for China, where her mother 204 00:11:31,120 --> 00:11:33,840 Speaker 1: is from. She won the freestyle skiing big here. Every 205 00:11:33,920 --> 00:11:35,959 Speaker 1: NFL team now has their head coach for next season. 206 00:11:36,080 --> 00:11:39,600 Speaker 1: Houston and New Orleans promoted their current defensive cordators. Love 207 00:11:39,800 --> 00:11:42,880 Speaker 1: Smith takes over the Texans. Dennis Allen the States. John 208 00:11:42,960 --> 00:11:46,600 Speaker 1: stash Eller Bloomberg Sports. All right, John, thank you. Quity 209 00:11:46,679 --> 00:11:49,000 Speaker 1: futures little change this morning. S and P futures are 210 00:11:49,080 --> 00:11:51,040 Speaker 1: up about six points. Right now, TOW future is up 211 00:11:51,080 --> 00:11:54,400 Speaker 1: seventy six NaNs that future is higher by just four points. 212 00:11:54,520 --> 00:11:57,760 Speaker 1: Big moves in the treasury market, the tenure down six 213 00:11:57,840 --> 00:12:01,400 Speaker 1: thirty seconds, the yield one point nine percent. Ski Dweck 214 00:12:01,480 --> 00:12:08,160 Speaker 1: of Flow Bank joins us. Next. This is Bloomberg Bloomberg 215 00:12:08,200 --> 00:12:10,520 Speaker 1: eleven three oh weather gradual clearing today with highs in 216 00:12:10,559 --> 00:12:13,280 Speaker 1: the low forties, mostly sunny, milder. We'll get up to 217 00:12:13,360 --> 00:12:17,320 Speaker 1: near fifty tomorrow and Thursday. Right now, clouds thirty six 218 00:12:17,480 --> 00:12:24,360 Speaker 1: degrees in central Park markets. Headlines and breaking news twenty 219 00:12:24,440 --> 00:12:27,240 Speaker 1: four hours a day at Bloomberg dot Com, The Bloomberg 220 00:12:27,320 --> 00:12:30,839 Speaker 1: Business Atland at Bloomberg Quick tape. This is a Bloomberg 221 00:12:30,960 --> 00:12:40,400 Speaker 1: business flash and I'm Karin. Moscow. Stocks in Europe are 222 00:12:40,480 --> 00:12:43,560 Speaker 1: gaining this morning as commodity producers receive a boost from 223 00:12:43,679 --> 00:12:47,160 Speaker 1: rising metal prices and solid earnings. Treasury yields taking higher, 224 00:12:47,200 --> 00:12:50,800 Speaker 1: the dollar strengthening, and SNP futures have been giving up 225 00:12:50,880 --> 00:12:53,439 Speaker 1: their gains now little change. We checked the markets every 226 00:12:53,480 --> 00:12:57,319 Speaker 1: fifteen minutes throughout the trading day on Bloomberg again, SNP futures, 227 00:12:57,360 --> 00:13:00,320 Speaker 1: it will change down. Futures up forty and as day 228 00:13:00,400 --> 00:13:03,200 Speaker 1: future is lower down fifteen in the decks in Germany's 229 00:13:03,240 --> 00:13:05,480 Speaker 1: up about two tenths of upper cent ten, Your treasury 230 00:13:05,559 --> 00:13:08,280 Speaker 1: down six thirty seconds. He was one point three percent. 231 00:13:08,360 --> 00:13:10,640 Speaker 1: The yield on the two year one point three two percent. 232 00:13:11,040 --> 00:13:13,360 Speaker 1: Non x screwed oils down one percent or ninety five 233 00:13:13,400 --> 00:13:16,040 Speaker 1: cents at ninety dollars, thirty seven cents of barrel comic 234 00:13:16,080 --> 00:13:17,960 Speaker 1: school down a tenth of upper cent or two dollars 235 00:13:18,000 --> 00:13:21,000 Speaker 1: at eighteen nineteen eighty announce the euro one point one 236 00:13:21,080 --> 00:13:23,240 Speaker 1: four oh nine against the dollar, British found one point 237 00:13:23,280 --> 00:13:25,960 Speaker 1: three five four or seven, the yen one fifteen point 238 00:13:26,080 --> 00:13:29,520 Speaker 1: three three and Bitcoin this morning moving lower at forty 239 00:13:29,559 --> 00:13:32,440 Speaker 1: three thousand, six hundred eighty dollars, and we're watching shares 240 00:13:32,480 --> 00:13:35,400 Speaker 1: of Peloton down four point three percent this morning. This 241 00:13:35,480 --> 00:13:37,640 Speaker 1: is ahead of its earnings and on news that CEO 242 00:13:37,760 --> 00:13:41,120 Speaker 1: John Foley will step down, with Dow Jones reporting that 243 00:13:41,200 --> 00:13:45,000 Speaker 1: Barry McCarthy will become CEO and president and join Peloton's board. 244 00:13:45,280 --> 00:13:47,679 Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with 245 00:13:47,760 --> 00:13:50,080 Speaker 1: more on what's going on around the world. Michael, Good morning, 246 00:13:50,200 --> 00:13:53,800 Speaker 1: Good morning, Karen. Diplomatic efforts to defuse the tensions around 247 00:13:53,920 --> 00:13:58,240 Speaker 1: Ukraine continued today with French President Emmanuel mccrawln expected in 248 00:13:58,440 --> 00:14:03,160 Speaker 1: kf Yesterday Krom met with the Russian President Vladimir Putin 249 00:14:03,320 --> 00:14:07,440 Speaker 1: in Moscow. President Biden Stop science advisor Dr Eric Lander 250 00:14:07,520 --> 00:14:10,600 Speaker 1: has resigned. It comes hours after the White House confirmed 251 00:14:10,640 --> 00:14:15,040 Speaker 1: and internal investigation found credible evidence that he mistreated his staff. 252 00:14:15,440 --> 00:14:18,400 Speaker 1: At the Beijing Winter Olympics, China and Sweden aer tied 253 00:14:18,480 --> 00:14:21,560 Speaker 1: for the gold medal account at three. Russia has the 254 00:14:21,640 --> 00:14:25,240 Speaker 1: most medals overall at eight. The US has increased its 255 00:14:25,320 --> 00:14:28,520 Speaker 1: medal account four all silvers. In the NBA, the Knicks 256 00:14:28,560 --> 00:14:31,520 Speaker 1: and Wizards lost the Warriors one in the NHL, The 257 00:14:31,560 --> 00:14:34,480 Speaker 1: Devil's Lost Global News twenty four hours a day on 258 00:14:34,600 --> 00:14:37,200 Speaker 1: air and on Bloomberg Quick Today, powered by more than 259 00:14:37,280 --> 00:14:39,680 Speaker 1: twenty seven hundred journalists and analysts more than a hundred 260 00:14:39,680 --> 00:14:43,800 Speaker 1: twenty countries. I'm Michael Barr, and this is Bloomberg. Nathan. Okay, Michael. Thanks, 261 00:14:43,840 --> 00:14:46,320 Speaker 1: It's five nineteen on Wall Street Line from the Bloomberg 262 00:14:46,360 --> 00:14:50,040 Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak and St. Dweck 263 00:14:50,320 --> 00:14:53,200 Speaker 1: is with us now chief investment officer at Flow Bank. 264 00:14:53,280 --> 00:14:55,760 Speaker 1: As we watched the sell off in the bond space 265 00:14:55,960 --> 00:14:59,440 Speaker 1: this morning, St, we've got ten year treasury yields close 266 00:14:59,520 --> 00:15:03,560 Speaker 1: to one point nine and potentially moving higher. What do 267 00:15:03,640 --> 00:15:07,240 Speaker 1: you think is driving the sell off in fixed income 268 00:15:07,360 --> 00:15:11,720 Speaker 1: right now? Good morning. I think it's, you know, it's 269 00:15:11,760 --> 00:15:15,560 Speaker 1: really the market just catching up to a generally more 270 00:15:15,640 --> 00:15:18,760 Speaker 1: hawkish tone by all the central banks. So the fact 271 00:15:18,840 --> 00:15:23,200 Speaker 1: that even the ECB UM might look at tightening later 272 00:15:23,280 --> 00:15:25,840 Speaker 1: this year. I'm not convinced they'll manage it, but they're 273 00:15:25,960 --> 00:15:29,920 Speaker 1: thinking about it. Um. You're seeing inflation a little bit higher, 274 00:15:30,040 --> 00:15:32,920 Speaker 1: even in places like Japan, You're starting to see that 275 00:15:33,080 --> 00:15:37,000 Speaker 1: reaction in market in bond markets again, It's interesting to 276 00:15:37,080 --> 00:15:38,760 Speaker 1: see this happening though, when we had a couple of 277 00:15:38,840 --> 00:15:41,320 Speaker 1: notes I think from JP Morgan just yesterday saying that 278 00:15:41,400 --> 00:15:44,440 Speaker 1: a lot of the risk of tight tightness from the 279 00:15:44,520 --> 00:15:47,560 Speaker 1: Fed has been pretty much baked into this market. Do 280 00:15:47,680 --> 00:15:49,240 Speaker 1: you see it that way or do we have further 281 00:15:49,320 --> 00:15:53,760 Speaker 1: to go here? No, I think we've priced in so 282 00:15:53,920 --> 00:15:58,200 Speaker 1: many rate hikes already. Um, so it's interesting to see 283 00:15:58,240 --> 00:16:00,640 Speaker 1: the move now. It's maybe because we had, you know, 284 00:16:00,680 --> 00:16:03,200 Speaker 1: a bit of an easing in the pressure with the 285 00:16:03,320 --> 00:16:06,320 Speaker 1: market sell off, and now there's a little more room 286 00:16:06,400 --> 00:16:10,280 Speaker 1: to run. We see bun yield, you know, overreact or 287 00:16:10,400 --> 00:16:13,320 Speaker 1: overshoot quite frequently, so it's not a surprise that you 288 00:16:13,400 --> 00:16:16,560 Speaker 1: have this momentum now that you're seeing more short positions. 289 00:16:16,880 --> 00:16:18,800 Speaker 1: But I do think it would be difficult to price 290 00:16:18,880 --> 00:16:21,400 Speaker 1: in more hikes than what the market is pricing in today. 291 00:16:22,000 --> 00:16:24,840 Speaker 1: How many hikes are you pricing at this point? What 292 00:16:24,920 --> 00:16:31,320 Speaker 1: about the balance sheet? I'm thinking more probably four hikes max. Uh. 293 00:16:31,480 --> 00:16:33,120 Speaker 1: It just feels like they can get a few in 294 00:16:33,200 --> 00:16:35,120 Speaker 1: in the first half, but the second half of the 295 00:16:35,240 --> 00:16:39,000 Speaker 1: year you're gonna see inflation starts to ease, supply chain 296 00:16:39,080 --> 00:16:43,200 Speaker 1: disruptions getting better growth slowing towards trends, so it's going 297 00:16:43,280 --> 00:16:46,080 Speaker 1: to be tougher to keep getting so many rate hikes 298 00:16:46,120 --> 00:16:48,120 Speaker 1: in in the second half of the year, and the 299 00:16:48,200 --> 00:16:51,000 Speaker 1: balance sheet runoff I think will be soft. Um, they 300 00:16:51,080 --> 00:16:53,920 Speaker 1: want to show they're serious about inflation, but if they 301 00:16:54,000 --> 00:16:56,560 Speaker 1: become too aggressive, you're really going to have concerns about 302 00:16:56,640 --> 00:16:59,600 Speaker 1: a yield curve inverting and growth prospect for next year, 303 00:17:00,400 --> 00:17:02,640 Speaker 1: and I think they're going to have to avoid that. 304 00:17:02,800 --> 00:17:05,240 Speaker 1: So again, the first half of the year easier for 305 00:17:05,320 --> 00:17:08,600 Speaker 1: them to announce tightening balance sheet run off, not before 306 00:17:08,960 --> 00:17:11,760 Speaker 1: um the summer that they'll probably have to be a 307 00:17:11,800 --> 00:17:14,240 Speaker 1: little more cautious in their moves later in the year. 308 00:17:14,520 --> 00:17:16,960 Speaker 1: I wonder if you think the CPI print we're gonna 309 00:17:17,000 --> 00:17:19,160 Speaker 1: get on Thursday is going to be a further catalyst 310 00:17:19,240 --> 00:17:22,160 Speaker 1: for the bond market, or do you think traders are 311 00:17:22,600 --> 00:17:26,320 Speaker 1: sort of reacting ahead of whatever we see when it 312 00:17:26,359 --> 00:17:30,440 Speaker 1: comes to the latest inflation print this week. I think 313 00:17:30,480 --> 00:17:33,680 Speaker 1: there's a little bit of reacting before the print because 314 00:17:33,720 --> 00:17:37,160 Speaker 1: you had such strong non farm payrolls that was a surprise, 315 00:17:37,280 --> 00:17:41,320 Speaker 1: So maybe the markets are thinking, Okay, well, inflation might 316 00:17:41,400 --> 00:17:43,800 Speaker 1: not come down, or it might not be the Oh, 317 00:17:43,880 --> 00:17:46,080 Speaker 1: it's in line. It's not worse than expected, but it 318 00:17:46,240 --> 00:17:50,440 Speaker 1: feels like they're preparing themselves for for a worse print. UM. 319 00:17:51,200 --> 00:17:54,040 Speaker 1: You know, we with a macron and especially sort of 320 00:17:55,119 --> 00:17:59,160 Speaker 1: extending these supply chain disruption, not a surprise for inflation 321 00:17:59,240 --> 00:18:01,800 Speaker 1: to stay higher into the beginning of the year. What 322 00:18:01,960 --> 00:18:05,879 Speaker 1: you need to see is for to start abating March, April, May, 323 00:18:06,000 --> 00:18:09,520 Speaker 1: June and uh and hopefully that will come through as 324 00:18:09,560 --> 00:18:13,679 Speaker 1: we see these yields climbing this morning. What's the impact 325 00:18:13,760 --> 00:18:18,959 Speaker 1: on the stock market, Well, it's it's been mixed so far, right, 326 00:18:19,200 --> 00:18:24,840 Speaker 1: was mostly I guess mostly green a little bit for 327 00:18:25,320 --> 00:18:29,359 Speaker 1: so far per Europe, it's I think that the size 328 00:18:29,400 --> 00:18:31,359 Speaker 1: of the move, or the scale of the move and 329 00:18:31,480 --> 00:18:36,000 Speaker 1: how quickly it happens, is more important than the absolute number. UM. 330 00:18:36,280 --> 00:18:37,879 Speaker 1: I think at some point we're probably going to hit 331 00:18:37,960 --> 00:18:40,320 Speaker 1: that two percent mark on us ten years this year, 332 00:18:41,000 --> 00:18:43,959 Speaker 1: but we probably hit it, maybe overshoot and then at 333 00:18:44,040 --> 00:18:47,440 Speaker 1: some point retreat again again. With this the second half 334 00:18:47,480 --> 00:18:50,760 Speaker 1: picture just being a little less uncertain and a less 335 00:18:50,800 --> 00:18:55,440 Speaker 1: aggressive from the Fed, but market will remain more volatile. 336 00:18:55,520 --> 00:18:59,200 Speaker 1: We also saw added volatility from the big tech earnings 337 00:18:59,320 --> 00:19:03,719 Speaker 1: that have to an outside impacts on indices, but if 338 00:19:03,720 --> 00:19:06,480 Speaker 1: you look through the volatility of the next couple of 339 00:19:06,520 --> 00:19:08,200 Speaker 1: weeks and months, I think we're still going to see 340 00:19:08,359 --> 00:19:11,600 Speaker 1: some upside all right. As always, thanks for your insights, 341 00:19:11,640 --> 00:19:14,280 Speaker 1: really appreciate it. This morning, S D. Dweck with US 342 00:19:14,640 --> 00:19:18,200 Speaker 1: chief investment Officer at Flow Bank, as we continue to 343 00:19:18,560 --> 00:19:20,919 Speaker 1: watch the sell off in the bond space. Right now, 344 00:19:21,000 --> 00:19:23,399 Speaker 1: the ten years down five thirty seconds, the yield at 345 00:19:23,440 --> 00:19:25,480 Speaker 1: one point nine three percent, yield on the two year 346 00:19:25,560 --> 00:19:28,600 Speaker 1: one point three one, and the thirty year yield right 347 00:19:28,640 --> 00:19:32,440 Speaker 1: now is at two point to two percent. As for equities, 348 00:19:32,680 --> 00:19:35,720 Speaker 1: mixed action as far as futures go, SMP futures a 349 00:19:35,800 --> 00:19:38,480 Speaker 1: little changed right now. Down futures are up by twenty 350 00:19:38,560 --> 00:19:43,399 Speaker 1: seven points, Nasdaq futures lower there down fifteen points. Some 351 00:19:43,560 --> 00:19:46,240 Speaker 1: gains in European stocks right now. The decks in Germany's 352 00:19:46,280 --> 00:19:48,760 Speaker 1: up about two tenths percent, the CAC in Paris higher 353 00:19:48,880 --> 00:19:52,480 Speaker 1: by about a half of one percent. NIMEX crew down 354 00:19:52,520 --> 00:19:54,879 Speaker 1: two point one percent right now, eighty nine dollars forty 355 00:19:54,920 --> 00:19:57,360 Speaker 1: one cents for a barrel of West Texas Intermedia. We'll 356 00:19:57,359 --> 00:19:59,480 Speaker 1: have more on the bond sell off and President Biden's 357 00:19:59,480 --> 00:20:02,720 Speaker 1: warning about NORD stream to to check your top stories 358 00:20:02,720 --> 00:20:08,800 Speaker 1: of the morning. Next on Bloomberg Daybreak, Bloomberg eleven three 359 00:20:08,800 --> 00:20:11,600 Speaker 1: oh weather gradual clearing today. Highs in the low forties, 360 00:20:11,600 --> 00:20:14,680 Speaker 1: will be milder tomorrow and Thursday, with highs near fifty 361 00:20:14,960 --> 00:20:18,680 Speaker 1: both days. Right now thirty six and cloudy in Central Park. 362 00:20:22,040 --> 00:20:26,520 Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York. 363 00:20:26,680 --> 00:20:30,480 Speaker 1: Bloomberg E Living Freedom to Washington, d C, Bloomberg on 364 00:20:30,760 --> 00:20:33,960 Speaker 1: to Boston, Bloomberg one O six one to San Francisco, 365 00:20:34,040 --> 00:20:37,280 Speaker 1: Bloomberg nine six to the country, Sirius XM to the 366 00:20:37,359 --> 00:20:40,520 Speaker 1: one nineteen and around the globe, the Bloomberg Business at 367 00:20:40,640 --> 00:20:50,480 Speaker 1: and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's 368 00:20:50,520 --> 00:20:52,800 Speaker 1: five thirty on Wall Street. Good morning. I'm Nathan Hagar 369 00:20:53,200 --> 00:20:55,480 Speaker 1: and I'm Ferre in Moscow. We are just about four 370 00:20:55,560 --> 00:20:57,840 Speaker 1: hours away from the open of US trading. Let's get 371 00:20:57,880 --> 00:20:59,119 Speaker 1: you have to day on the news you need to 372 00:20:59,160 --> 00:21:01,399 Speaker 1: know at this hour. We begin with a bond market 373 00:21:01,440 --> 00:21:04,400 Speaker 1: where yields are rising. This morning, the ten year Treasury 374 00:21:04,480 --> 00:21:07,879 Speaker 1: yelled briefly rose above one point nine five percent, a 375 00:21:08,000 --> 00:21:12,040 Speaker 1: level last scene in December of Patrick Armstrong as chief 376 00:21:12,119 --> 00:21:15,359 Speaker 1: investment officer at Klarmi Wealth. I think bond yields are 377 00:21:15,359 --> 00:21:17,399 Speaker 1: going to continue to rise. I think we're going to 378 00:21:17,480 --> 00:21:22,040 Speaker 1: get to the point where tenure yields equal tenure inflation expectations. 379 00:21:22,160 --> 00:21:24,199 Speaker 1: That's the point where it's a break even for an 380 00:21:24,240 --> 00:21:27,119 Speaker 1: investor to put their money in something risk free from 381 00:21:27,200 --> 00:21:31,199 Speaker 1: default and preserve their purchasing power. Patrick Armstrong at Laurimi 382 00:21:31,280 --> 00:21:33,960 Speaker 1: Wealth expects ten year yields to rise another sixty basis 383 00:21:34,080 --> 00:21:36,480 Speaker 1: points and checking treasuries now that yield on the ten 384 00:21:36,520 --> 00:21:38,560 Speaker 1: year at one point nine two percent, the two year 385 00:21:38,640 --> 00:21:41,840 Speaker 1: yield one point three one percent. In corporate news this morning, 386 00:21:41,920 --> 00:21:44,800 Speaker 1: Karen and Video is abandoning its proposed forty billion dollar 387 00:21:44,880 --> 00:21:48,040 Speaker 1: purchase of arm The company's bowing to regulatory pressure and 388 00:21:48,240 --> 00:21:50,240 Speaker 1: ending what would have been the largest deal ever in 389 00:21:50,320 --> 00:21:53,119 Speaker 1: the chip industry. Instead, Soft Bank is planning an I 390 00:21:53,280 --> 00:21:55,720 Speaker 1: p O of arm. Well. On the earnings front, Nathan 391 00:21:55,800 --> 00:21:58,639 Speaker 1: Shares a vp or up more than one percent. In London, 392 00:21:58,720 --> 00:22:01,479 Speaker 1: the company reported its high is profit in almost a decade, 393 00:22:01,520 --> 00:22:04,640 Speaker 1: thanks to searching oil and gas prices. It also announced 394 00:22:04,680 --> 00:22:07,560 Speaker 1: a share buyback. Did Geo politics now it's all about 395 00:22:07,640 --> 00:22:11,359 Speaker 1: Russia and Ukraine. Still. President Biden says Russia's Nordstream to 396 00:22:11,480 --> 00:22:14,879 Speaker 1: pipeline will be halted if President Vladimir Putin invades Ukraine. 397 00:22:15,119 --> 00:22:19,360 Speaker 1: Moscow has repeatedly denied plans for an invasion. Massachusetts Democratic 398 00:22:19,400 --> 00:22:23,000 Speaker 1: Congressman Jake Akinclaus hopes sanctions will be effective. The purpose 399 00:22:23,080 --> 00:22:26,159 Speaker 1: of sanctions is to be a deterrent effect, so that 400 00:22:26,240 --> 00:22:29,680 Speaker 1: when President Putin is weighing the benefits and risks to 401 00:22:29,840 --> 00:22:33,200 Speaker 1: him of invading Ukraine, he has to put the sanctions 402 00:22:33,240 --> 00:22:35,119 Speaker 1: on the debit side of the calculation. He has to 403 00:22:35,160 --> 00:22:38,880 Speaker 1: say that these are risks inherent in that operation. Democratic 404 00:22:38,920 --> 00:22:42,399 Speaker 1: Congressman Jacokinclaus spoke with our Washington correspondent Joe Matthew on 405 00:22:42,440 --> 00:22:45,480 Speaker 1: Bloomberg Sound On Catch the program weekdays at five pm 406 00:22:45,560 --> 00:22:48,480 Speaker 1: Eastern on Bloomberg Radio. We now turned to the pandemic 407 00:22:48,600 --> 00:22:51,760 Speaker 1: Nathan and long running mask mandates. Some governors are now 408 00:22:51,840 --> 00:22:55,520 Speaker 1: taking steps to discontinue masks in schools. On Bloomberg's Rinidy 409 00:22:55,560 --> 00:22:57,720 Speaker 1: Young joins us live at the latest. Good Morning Rinda, 410 00:22:57,760 --> 00:23:00,600 Speaker 1: Good Morning Care. In Connecticut, Governor Nidla Months says the 411 00:23:00,640 --> 00:23:03,360 Speaker 1: state will end its math mandate for schools and daycares 412 00:23:03,400 --> 00:23:05,720 Speaker 1: at the end of this month. New Jersey will end 413 00:23:05,840 --> 00:23:09,760 Speaker 1: mask mandates next month, and Delaware's ending indoor mask requirements 414 00:23:09,840 --> 00:23:12,400 Speaker 1: on Friday and in schools at the end of the month. 415 00:23:12,720 --> 00:23:15,040 Speaker 1: And here in New York, Governor Kathy Hockel may soon 416 00:23:15,160 --> 00:23:18,200 Speaker 1: make similar moves, although she has yet to announce a 417 00:23:18,359 --> 00:23:21,480 Speaker 1: date to in restrictions. Live in New York. I'm goned 418 00:23:21,520 --> 00:23:23,520 Speaker 1: to young Bloomberg day break. I need to thank you, 419 00:23:23,720 --> 00:23:26,639 Speaker 1: S and P futures up about five points this morning 420 00:23:26,880 --> 00:23:30,480 Speaker 1: and straight ahead your latest local headlines plus a check 421 00:23:30,520 --> 00:23:39,000 Speaker 1: of sports. And this is Bloomberg Break. Karen, thank you. 422 00:23:39,040 --> 00:23:41,159 Speaker 1: It's five thirty three on Wall Street, thirty six degrees 423 00:23:41,200 --> 00:23:44,120 Speaker 1: in Central Park. They've cleared the accident investigation Root fifty 424 00:23:44,200 --> 00:23:46,240 Speaker 1: nine and Main Street and Spring Valley. Love of details 425 00:23:46,280 --> 00:23:48,240 Speaker 1: on what else is going on in traffic? Shortly first 426 00:23:48,359 --> 00:23:50,520 Speaker 1: Michael Barr with what else is going on in New 427 00:23:50,600 --> 00:23:53,320 Speaker 1: York and around the world. Michael, thank you very much. Nathan. 428 00:23:53,400 --> 00:23:56,520 Speaker 1: Crime is rising in New York City. According to data 429 00:23:56,640 --> 00:23:58,760 Speaker 1: from the n y p D. The city saw a 430 00:23:58,840 --> 00:24:02,240 Speaker 1: nearly six increase in the past week alone compared to 431 00:24:02,320 --> 00:24:05,399 Speaker 1: this time last year. Police say the highest jump in 432 00:24:05,520 --> 00:24:09,600 Speaker 1: cases included car thefts. For the weekending Sunday, there were 433 00:24:09,680 --> 00:24:12,840 Speaker 1: more than two hundred fifty reported incidents, up from one 434 00:24:13,640 --> 00:24:18,399 Speaker 1: thefts during the same time in one Since January one, 435 00:24:18,640 --> 00:24:23,480 Speaker 1: The NYPD says overall crime has gone up over President 436 00:24:23,520 --> 00:24:27,560 Speaker 1: Biden stopped Science Advisor Dr. Eric Lander has resigned after 437 00:24:27,640 --> 00:24:31,200 Speaker 1: the White House confirmed that an internal investigation found credible 438 00:24:31,240 --> 00:24:34,560 Speaker 1: evidence that he mistreated his staff. It marks the first 439 00:24:34,680 --> 00:24:38,439 Speaker 1: cabinet level departure of the Biden administration. White House spokeswoman 440 00:24:38,560 --> 00:24:41,440 Speaker 1: Jen Saki doesn't has been crystal clear with all of 441 00:24:41,560 --> 00:24:45,080 Speaker 1: us about his ex high expectations of how he and 442 00:24:45,240 --> 00:24:50,280 Speaker 1: his staff should be creating a respectful work. Environment. Spokeswoman 443 00:24:50,320 --> 00:24:54,280 Speaker 1: Saki says Biden accepted Lander's resignation with gratitude for his 444 00:24:54,440 --> 00:24:58,040 Speaker 1: work on the pandemic, the cancer moon shot, climate change, 445 00:24:58,119 --> 00:25:02,080 Speaker 1: and other key priorities. Former President Trump's handling of White 446 00:25:02,119 --> 00:25:05,680 Speaker 1: House documents land I'm in legal jeopardy. The National Archives 447 00:25:05,720 --> 00:25:10,480 Speaker 1: says it recovered boxes of presidential records from Trump's Mara Lago, 448 00:25:10,560 --> 00:25:14,680 Speaker 1: Florida home. The development follows reports on Trump's habit of 449 00:25:14,760 --> 00:25:18,720 Speaker 1: tearing up official documents, forcing aids to take them back together. 450 00:25:19,119 --> 00:25:22,680 Speaker 1: Officials warned both actions could violate the Presidential Records Act. 451 00:25:23,040 --> 00:25:27,880 Speaker 1: Democratic Congressman Benny Thompson heads the January sixth Committee. Anything 452 00:25:29,880 --> 00:25:34,200 Speaker 1: uh to be criminal, we would not hesitate to make 453 00:25:34,480 --> 00:25:38,160 Speaker 1: or referral. Chairman Thompson says it's too early to determine 454 00:25:38,160 --> 00:25:40,960 Speaker 1: whether any documents are missing. The U. S. Supreme Court 455 00:25:41,040 --> 00:25:44,080 Speaker 1: restored Alabama's congressional map, dealing a blow to a second 456 00:25:44,119 --> 00:25:47,760 Speaker 1: heavily black district. The five four order insures that Alabama 457 00:25:47,840 --> 00:25:50,920 Speaker 1: voters will use the original Republican drawing map in the 458 00:25:50,960 --> 00:25:54,119 Speaker 1: November election. Global News twenty four hours a day on 459 00:25:54,280 --> 00:25:57,840 Speaker 1: air and on Bloomberg Quicktake, powered by more than hundred 460 00:25:57,880 --> 00:26:00,480 Speaker 1: journalists analysts more than a hundred twenty countries. I'm Michael 461 00:26:00,520 --> 00:26:08,600 Speaker 1: bar This is Bloomberg, Nathan. Thanks Michael wall Street. Time 462 00:26:08,640 --> 00:26:11,280 Speaker 1: for Bloomberg Sports Update with John Stashow. Actual. They from 463 00:26:11,359 --> 00:26:13,280 Speaker 1: game two of this five game road trip, and like 464 00:26:13,480 --> 00:26:15,880 Speaker 1: the one Saturday at the Lakers, good start for the Knicks. 465 00:26:15,960 --> 00:26:18,200 Speaker 1: They jumped in front fight twelve, but like in l A, 466 00:26:18,280 --> 00:26:20,600 Speaker 1: they could not keep it, going outscored in the fourth 467 00:26:20,680 --> 00:26:24,080 Speaker 1: quarter thirty one to eighteen. The Jazz one one thirteen 468 00:26:24,119 --> 00:26:26,680 Speaker 1: one oh four is Donovan Mitchell scored thirty two points. 469 00:26:26,960 --> 00:26:28,879 Speaker 1: Julius Randall at thirty for the Knicks with R. J. 470 00:26:29,000 --> 00:26:31,840 Speaker 1: Barrett shot to eight for five, and the Knicks have 471 00:26:32,000 --> 00:26:34,680 Speaker 1: their third three game losing streak of the last month. 472 00:26:35,040 --> 00:26:37,320 Speaker 1: The trip continues tonight in Denver, while the Nets are 473 00:26:37,400 --> 00:26:39,399 Speaker 1: back home from their five game road trip where they 474 00:26:39,440 --> 00:26:41,640 Speaker 1: lost to all five. They'll try to end in eight 475 00:26:41,720 --> 00:26:44,320 Speaker 1: game losing streak in The Celtics come in having won 476 00:26:44,720 --> 00:26:47,399 Speaker 1: their last five. Devils lost in Ottawa for to one. 477 00:26:47,520 --> 00:26:50,320 Speaker 1: Virginia hit a three pointer with less than a second 478 00:26:50,359 --> 00:26:53,440 Speaker 1: ago for a one point upset win at two. A 479 00:26:53,560 --> 00:26:56,840 Speaker 1: near flawless performance by Nathan Shannon the Olympic figure skating 480 00:26:56,880 --> 00:26:59,560 Speaker 1: short program, He's now an overwhelming favorite to win the 481 00:26:59,600 --> 00:27:02,520 Speaker 1: Golden met all, the US still seeking its first even 482 00:27:02,560 --> 00:27:06,440 Speaker 1: though Eileen Goo, who won Golden Freestyle skiing, has lived 483 00:27:06,480 --> 00:27:09,840 Speaker 1: her entire life in San Francisco, she chose to compete 484 00:27:09,880 --> 00:27:12,719 Speaker 1: for China, where her mother is from. Women's hockey Canada 485 00:27:13,040 --> 00:27:15,240 Speaker 1: beat the US four two. They're expected to play again 486 00:27:15,320 --> 00:27:17,600 Speaker 1: next week for the gold medal. Dennis Allen named the 487 00:27:17,640 --> 00:27:20,320 Speaker 1: new coach to the Saints Lovey Smith. The Texans both 488 00:27:20,359 --> 00:27:24,040 Speaker 1: have previous NFL head coaching experience. Tom Brady on his 489 00:27:24,200 --> 00:27:27,680 Speaker 1: podcast First Interviews and s announcing his retirement, not that 490 00:27:27,760 --> 00:27:30,680 Speaker 1: I can't do that, um, and it's certainly not that 491 00:27:30,760 --> 00:27:34,120 Speaker 1: I can't play or continue to play. But I think 492 00:27:34,200 --> 00:27:36,119 Speaker 1: there's an important choice for me to make, you know, 493 00:27:36,200 --> 00:27:39,200 Speaker 1: And I think the choices, you know, everything certainly comes 494 00:27:39,240 --> 00:27:42,159 Speaker 1: to the cough and the cost is one. Am I 495 00:27:42,240 --> 00:27:44,560 Speaker 1: missing out on other aspects of my life? After about 496 00:27:44,640 --> 00:27:48,120 Speaker 1: someday coming out of retirement, Brady said, you never say never. 497 00:27:48,320 --> 00:27:52,360 Speaker 1: John Stasholler, Bloomberg Sports, Nathan all Right, John, thanks seven 498 00:27:52,440 --> 00:27:54,960 Speaker 1: on Wall Street Time for the Tri State Business Report. 499 00:27:55,000 --> 00:27:58,800 Speaker 1: Here's Bloomberg zed Corey. The fortunes of Manhattan's office market 500 00:27:58,800 --> 00:28:02,320 Speaker 1: are coming down to old His new new skyscrapers A 501 00:28:02,440 --> 00:28:05,560 Speaker 1: luring company seeking new space and preparing for the hybrid 502 00:28:05,600 --> 00:28:09,119 Speaker 1: work era left behind though or countless older buildings that 503 00:28:09,240 --> 00:28:12,520 Speaker 1: haven't been modernized in the past decade. We're getting a 504 00:28:12,640 --> 00:28:17,240 Speaker 1: constantly problem for landlords. A joint venture partnership of Zeckendorff 505 00:28:17,320 --> 00:28:20,680 Speaker 1: Development and Atlas Capital Group have just signed to contract 506 00:28:21,000 --> 00:28:24,399 Speaker 1: to buy five seventy Washington Street, an empty lot between 507 00:28:24,480 --> 00:28:27,920 Speaker 1: Houston and Clarkson Streets. The Post reports they planned to 508 00:28:28,000 --> 00:28:32,119 Speaker 1: erect a roughly thirty six story super luxury condo tower. 509 00:28:32,480 --> 00:28:37,000 Speaker 1: Burlington Stores is accused of misclassifying assistant store managers as 510 00:28:37,080 --> 00:28:41,360 Speaker 1: exempt from the Fair Labor Standards Act to avoid paying 511 00:28:41,440 --> 00:28:44,520 Speaker 1: them overtime wages. According to a new lawsuit recently filed 512 00:28:44,560 --> 00:28:48,200 Speaker 1: in federal court in New Jersey. The proposed collective action 513 00:28:48,320 --> 00:28:51,520 Speaker 1: was brought by a former employee that jew Bloomberg Dry 514 00:28:51,600 --> 00:28:56,000 Speaker 1: fake business report. I'm ed Corey's on Wall Street. Bloomberg 515 00:28:56,080 --> 00:28:58,120 Speaker 1: Radio is on the air from San Francisco to New York, 516 00:28:58,200 --> 00:29:00,600 Speaker 1: London to Hong Kong. Let's check in with our global 517 00:29:00,640 --> 00:29:02,280 Speaker 1: news team for some of the top stories heard on 518 00:29:02,320 --> 00:29:08,480 Speaker 1: our three hundred affiliate radio stations around the world. I'm 519 00:29:08,560 --> 00:29:11,280 Speaker 1: Steve podas Can on T and X in Los Angeles. 520 00:29:11,400 --> 00:29:14,120 Speaker 1: We're talking about the global chip shortage and how it 521 00:29:14,280 --> 00:29:18,520 Speaker 1: has Tesla cutting a steering component from sub cars. Tom 522 00:29:18,640 --> 00:29:22,320 Speaker 1: Corney Tannaho on ktr H in Houston, searching oil crisis 523 00:29:22,440 --> 00:29:25,440 Speaker 1: lifting VP's profit to the highest NAM list a decade. 524 00:29:25,680 --> 00:29:28,360 Speaker 1: I'm Carolyn Head call bloom i DAB Digital, Adam among 525 00:29:28,360 --> 00:29:31,719 Speaker 1: the modporting and Britton's curbing their spending. In Jane Barket 526 00:29:31,760 --> 00:29:35,120 Speaker 1: card in the retail consulting safe food and fuel sales 527 00:29:35,200 --> 00:29:38,200 Speaker 1: have been tame. I'm en cory A t A M. 528 00:29:38,240 --> 00:29:42,040 Speaker 1: In Cleveland. I'm reporting Kate Western reserm University is launching 529 00:29:42,120 --> 00:29:44,760 Speaker 1: a leadership in FIT two. Those are some of the 530 00:29:44,760 --> 00:29:47,800 Speaker 1: stories our twenty hundred Bloomberg journalists and analysts are working 531 00:29:47,880 --> 00:29:50,640 Speaker 1: on this morning. Around the world. It's five thirty nine 532 00:29:50,720 --> 00:29:54,800 Speaker 1: on Wall Street. The following is an editorial from Bloomberg Opinion. 533 00:29:55,160 --> 00:29:59,760 Speaker 1: By all appearances, the situation over Ukraine remains dangerous. Although 534 00:30:00,000 --> 00:30:03,400 Speaker 1: Asha continues to deny any plans to attack, President Vladimir 535 00:30:03,400 --> 00:30:07,080 Speaker 1: Putin has mass troops and weapons on Ukraine's borders. The 536 00:30:07,240 --> 00:30:12,240 Speaker 1: US has responded by sending troops to bolster Native's eastern flank. Still, 537 00:30:12,560 --> 00:30:15,360 Speaker 1: despite the tensions, there are glimmers of a way out. 538 00:30:16,160 --> 00:30:19,840 Speaker 1: Confronted with a surprisingly strong and united Western response to 539 00:30:19,960 --> 00:30:23,240 Speaker 1: his moves, Putin has signaled some willingness to entertain talks 540 00:30:23,320 --> 00:30:26,760 Speaker 1: on Russia's security concerns in Europe as a possible path 541 00:30:26,920 --> 00:30:30,440 Speaker 1: to diffusing the crisis. Will not bowing to Putin's more 542 00:30:30,480 --> 00:30:34,400 Speaker 1: extreme demands. President Joe Biden and European leaders should seize 543 00:30:34,440 --> 00:30:38,240 Speaker 1: the opportunity to find common ground, particularly on matters such 544 00:30:38,280 --> 00:30:42,800 Speaker 1: as military transparency and arms control. There's no guarantee Putin 545 00:30:42,840 --> 00:30:47,200 Speaker 1: will respond positively to these overtures, but arms controlled diplomacy 546 00:30:47,440 --> 00:30:50,960 Speaker 1: has worked before. It could help calm the world again. 547 00:30:51,640 --> 00:30:54,520 Speaker 1: This editorial was written by the Bloomberg Opinion Editorial Board. 548 00:30:54,760 --> 00:30:57,360 Speaker 1: I'm David Shipley. For more Bloomberg opinion, please go to 549 00:30:57,400 --> 00:31:02,080 Speaker 1: Bloomberg dot com, Slush Opinion or NGO on the Bloomberg terminal. 550 00:31:02,400 --> 00:31:06,120 Speaker 1: This has been Bloomberg Opinion Bloomberg Opinion editorials. You can 551 00:31:06,160 --> 00:31:08,560 Speaker 1: hear him every weekday at this time terminal customers. You 552 00:31:08,640 --> 00:31:11,360 Speaker 1: can read more at O P I n GO SMP 553 00:31:11,520 --> 00:31:14,600 Speaker 1: Futures of four points the ten year down four thirty 554 00:31:14,680 --> 00:31:18,160 Speaker 1: seconds yield one point nine on the benchmark tenure. Note. 555 00:31:18,240 --> 00:31:24,240 Speaker 1: This is Bloomberg Bloomberg eleven three oh Weather gradual clearing 556 00:31:24,280 --> 00:31:28,200 Speaker 1: low forties today, upper forties to around fifty mostly Sunday Tomorrow. 557 00:31:28,400 --> 00:31:30,360 Speaker 1: We get up to near fifty on Thursday as well. 558 00:31:30,480 --> 00:31:37,720 Speaker 1: Right now, cloudy thirty six degrees in central Park. Markets, 559 00:31:37,840 --> 00:31:40,880 Speaker 1: headlines and breaking news twenty four hours a day at 560 00:31:40,920 --> 00:31:44,320 Speaker 1: Bloomberg dot com, the Bloomberg Business at and at Bloomberg 561 00:31:44,400 --> 00:31:53,760 Speaker 1: Quick Tape. He's a Bloomberg business lash and I'm par 562 00:31:53,880 --> 00:31:56,400 Speaker 1: in Moscow. So I've seen Europe are gaining as commodity 563 00:31:56,440 --> 00:31:59,880 Speaker 1: producers receive a booze from rising metal prices and solid earnings, 564 00:32:00,040 --> 00:32:04,320 Speaker 1: Treasury yields taking higher, the dollars strengthening, and SMP futures 565 00:32:04,360 --> 00:32:07,040 Speaker 1: are higher. We checked the markets every fifteen minutes throughout 566 00:32:07,080 --> 00:32:09,440 Speaker 1: the trading day. On Bloomberg s and P Future is 567 00:32:09,520 --> 00:32:11,760 Speaker 1: up five points this morning. Down Future is up fifty 568 00:32:11,840 --> 00:32:15,280 Speaker 1: six nasdack Future is up sixteen. The decks in Germany's 569 00:32:15,320 --> 00:32:17,880 Speaker 1: up three tenths of upper cent ten. Your treasury down 570 00:32:17,920 --> 00:32:20,120 Speaker 1: three thirty seconds. You have one point nine two percent. 571 00:32:20,200 --> 00:32:22,680 Speaker 1: The yield on the two year one point three one percent. 572 00:32:23,200 --> 00:32:25,920 Speaker 1: Nine X Screwed oil is down one point eight percent 573 00:32:26,040 --> 00:32:28,840 Speaker 1: on a dollar sixty eight at eighty nine dollars sixty 574 00:32:28,880 --> 00:32:30,880 Speaker 1: two cents a barrel. Comex school down a tenth of 575 00:32:30,920 --> 00:32:33,920 Speaker 1: a percent on a dollar sixty At eighteen twenty announced 576 00:32:34,240 --> 00:32:36,920 Speaker 1: the euro one point one four one nine against the dollar, 577 00:32:36,960 --> 00:32:39,480 Speaker 1: British band one point three five two. The ends at 578 00:32:39,520 --> 00:32:42,800 Speaker 1: one fifteen point to six and bitcoin this morning at 579 00:32:42,880 --> 00:32:46,040 Speaker 1: forty three thousand, eight hundred fifty dollars. That's a Bloomberg 580 00:32:46,080 --> 00:32:48,600 Speaker 1: Business Flash. Now here's Michael Barr with more on what's 581 00:32:48,640 --> 00:32:51,560 Speaker 1: going on around the world. Michael Karen, thank you very much. 582 00:32:51,640 --> 00:32:55,040 Speaker 1: President Joe Biden said the controversy old nord Stream to 583 00:32:55,360 --> 00:32:59,080 Speaker 1: natural gas pipeline between Russia and Germany would be stopped 584 00:32:59,360 --> 00:33:03,040 Speaker 1: if President and Putin orders an invasion of Ukraine. Meanwhile, 585 00:33:03,120 --> 00:33:06,800 Speaker 1: French President mccrom visits Kiev today, a day after a 586 00:33:06,880 --> 00:33:10,320 Speaker 1: meeting with Putin and Moscow. COVID cases are falling across 587 00:33:10,360 --> 00:33:14,080 Speaker 1: the nation, and now some states, including New Jersey and Connecticut, 588 00:33:14,400 --> 00:33:17,720 Speaker 1: are announcing masks will no longer be required in schools. 589 00:33:18,120 --> 00:33:20,880 Speaker 1: At the Beijing Winter Olympics, Russia has the most medals 590 00:33:21,080 --> 00:33:24,360 Speaker 1: overall at eight. The US has increased its medal account 591 00:33:24,520 --> 00:33:28,080 Speaker 1: four all silvers. In the NBA, the Knicks and Wizards lost, 592 00:33:28,160 --> 00:33:31,440 Speaker 1: the Warriors won. In the NHL, The Devil's Lost. Global 593 00:33:31,520 --> 00:33:33,680 Speaker 1: News twenty four hours a day on air and on 594 00:33:33,800 --> 00:33:37,000 Speaker 1: Bloomberg Quick Tank, powered by more than twenty seven hundred 595 00:33:37,040 --> 00:33:40,320 Speaker 1: journalists and analysts more than hundred twenty countries. Michael Barr. 596 00:33:40,400 --> 00:33:42,440 Speaker 1: This is Bloomberg Natin. All right, Michael, thank you. We're 597 00:33:42,440 --> 00:33:44,479 Speaker 1: coming up to five forty nine on Wall Street Live 598 00:33:44,520 --> 00:33:47,760 Speaker 1: from the Bloomberg Interacted Broker Studios. This is Bloomberg Daybreak. 599 00:33:47,760 --> 00:33:49,120 Speaker 1: I want to pick up on one of those stories 600 00:33:49,160 --> 00:33:53,040 Speaker 1: you just mentioned, their masked mandates starting to get lifted 601 00:33:53,160 --> 00:33:56,640 Speaker 1: in several states now that the omicron wave does appear 602 00:33:56,680 --> 00:33:59,480 Speaker 1: to be passing through throughout the country at this point, Really, 603 00:33:59,720 --> 00:34:03,600 Speaker 1: Say Fiselli joins us now senior pharmaceutical analyst at Bloomberg Intelligence. 604 00:34:03,840 --> 00:34:05,600 Speaker 1: It's good to have you with us, Sam, because it's 605 00:34:05,640 --> 00:34:08,719 Speaker 1: not just New Jersey. We've also heard from Connecticut, Delaware, 606 00:34:08,760 --> 00:34:13,200 Speaker 1: even California making moves to ease restrictions either this month 607 00:34:13,400 --> 00:34:16,400 Speaker 1: or next. Is this the right time for states to 608 00:34:16,440 --> 00:34:21,920 Speaker 1: be thinking about easing up on public health restrictions? Hi, Nathan, 609 00:34:22,080 --> 00:34:26,040 Speaker 1: So if we just focused um uh specifically on the 610 00:34:26,120 --> 00:34:29,560 Speaker 1: school issue, I think it's a it's a very fine 611 00:34:29,680 --> 00:34:32,879 Speaker 1: line between trying to get as many of these younger 612 00:34:33,000 --> 00:34:36,120 Speaker 1: children vaccinated and that's not a very high number at 613 00:34:36,160 --> 00:34:39,960 Speaker 1: the moment, and trying to to maintain a level of 614 00:34:40,800 --> 00:34:46,480 Speaker 1: um of of reduced transmission of virus amongst the children, 615 00:34:46,719 --> 00:34:50,960 Speaker 1: especially the children rather than the teachers, et cetera. So 616 00:34:51,160 --> 00:34:53,560 Speaker 1: that with what we've seen with omicron, which is which 617 00:34:53,640 --> 00:34:57,239 Speaker 1: is a higher rate of hospitalizations for children, is um 618 00:34:57,560 --> 00:35:00,080 Speaker 1: is not something that we're going to see a rebound in. 619 00:35:00,560 --> 00:35:02,800 Speaker 1: But at the same time, Nathan, as you've seen some 620 00:35:02,960 --> 00:35:06,320 Speaker 1: other commentators say, it's very difficult for children anyway to 621 00:35:06,440 --> 00:35:09,719 Speaker 1: maintain a mask, a good math culture, if you like, 622 00:35:10,440 --> 00:35:14,680 Speaker 1: and also at the same time continue doing this for well, 623 00:35:14,760 --> 00:35:17,319 Speaker 1: what's probably something in the region of one and off 624 00:35:17,440 --> 00:35:20,759 Speaker 1: about two years. And that's the fine balance that's really 625 00:35:20,880 --> 00:35:23,760 Speaker 1: really tough to deal with. So how do you strike 626 00:35:23,880 --> 00:35:28,359 Speaker 1: that balance? Does it go more toward changing the way 627 00:35:29,080 --> 00:35:32,720 Speaker 1: air flows in schools? Is that the focus that schools 628 00:35:32,719 --> 00:35:35,919 Speaker 1: should be thinking about now, as opposed to making sure 629 00:35:36,000 --> 00:35:39,160 Speaker 1: that kids of all ages are wearing their masks properly, 630 00:35:39,320 --> 00:35:43,279 Speaker 1: just because of the difficulties that you mentioned, Yeah, I mean, 631 00:35:43,480 --> 00:35:45,520 Speaker 1: I mean, you could try all of those things, but 632 00:35:45,600 --> 00:35:47,480 Speaker 1: the reality is that kids and the way that they 633 00:35:47,520 --> 00:35:51,120 Speaker 1: interact with each other isn't really going to be massively 634 00:35:51,200 --> 00:35:55,680 Speaker 1: impacted by how airflow goes through through a classroom, which 635 00:35:55,680 --> 00:35:58,399 Speaker 1: of course will help, But the the issue is more, 636 00:35:58,560 --> 00:36:00,920 Speaker 1: you know, you know, you've seen them when they run 637 00:36:00,960 --> 00:36:04,560 Speaker 1: around the yard as they're playing, and you know, I've 638 00:36:04,600 --> 00:36:07,000 Speaker 1: even heard stories where try And comes home with someone 639 00:36:07,040 --> 00:36:10,480 Speaker 1: else's mask saying we swapped. So it's very tough to 640 00:36:10,640 --> 00:36:13,160 Speaker 1: to to control this kind of thing, and I think 641 00:36:14,120 --> 00:36:16,000 Speaker 1: the best way is to try and give them at 642 00:36:16,040 --> 00:36:18,760 Speaker 1: least one those of a vaccine to reduce their risk 643 00:36:19,200 --> 00:36:22,360 Speaker 1: of getting hospitalized, which is what we're seeing more with omicron, 644 00:36:22,640 --> 00:36:25,399 Speaker 1: possibly because it's much more infectious and therefore you seeing 645 00:36:25,400 --> 00:36:29,320 Speaker 1: a much higher rate of transmission. But I I really 646 00:36:29,680 --> 00:36:33,839 Speaker 1: as as a parent, I really think that that if 647 00:36:33,920 --> 00:36:36,720 Speaker 1: we can get these kids vaccinated, that's our best solution 648 00:36:36,800 --> 00:36:39,279 Speaker 1: to reducing the need for masks. That's a tough held 649 00:36:39,320 --> 00:36:41,320 Speaker 1: of climb, though, isn't it. I mean, as you mentioned, 650 00:36:41,560 --> 00:36:46,279 Speaker 1: the rate of vaccinations among the groups of children that 651 00:36:46,800 --> 00:36:50,440 Speaker 1: they're eligible for is really low, much lower. I think 652 00:36:50,480 --> 00:36:53,000 Speaker 1: that a lot of people expected at this point. What's 653 00:36:53,040 --> 00:36:55,800 Speaker 1: the challenge going forward in particularly when you think about 654 00:36:56,440 --> 00:37:00,759 Speaker 1: the fact that very young kids still haven't been authorized 655 00:37:00,800 --> 00:37:03,280 Speaker 1: to be vaccinated yet, and whether that's going to factor 656 00:37:03,360 --> 00:37:07,040 Speaker 1: it even further in terms of how much longer it's 657 00:37:07,080 --> 00:37:10,280 Speaker 1: going to take for higher levels of vaccination to take place, 658 00:37:12,040 --> 00:37:14,120 Speaker 1: they said, I think the challenge is going to be, 659 00:37:15,000 --> 00:37:16,560 Speaker 1: or the issue that we're going to have to deal with, 660 00:37:16,760 --> 00:37:19,880 Speaker 1: is its supposed in some states they do remove the 661 00:37:19,960 --> 00:37:25,400 Speaker 1: mass mandate and we continue to see high transmission amongst children, 662 00:37:25,400 --> 00:37:27,680 Speaker 1: which is what we're seeing currently in the UK, for example, 663 00:37:28,400 --> 00:37:31,719 Speaker 1: and that then leads to a rise in hospitalizations. I 664 00:37:31,760 --> 00:37:35,640 Speaker 1: don't think anyone is going to then um argue with 665 00:37:36,080 --> 00:37:39,040 Speaker 1: probably either putting the mass mandate back on if it's 666 00:37:39,280 --> 00:37:43,400 Speaker 1: ever been effective, but certainly use that information and that 667 00:37:43,560 --> 00:37:47,520 Speaker 1: knowledge to convince parents for getting their kids vaccinated. I 668 00:37:47,600 --> 00:37:50,480 Speaker 1: think that that's unfortunately, we may have to see some 669 00:37:50,640 --> 00:37:54,040 Speaker 1: negative developments for people to get more and more convinced 670 00:37:54,080 --> 00:37:56,879 Speaker 1: to do this, because you know that that's the only 671 00:37:56,920 --> 00:37:58,400 Speaker 1: way I think you can get it. You're going to 672 00:37:58,480 --> 00:38:01,480 Speaker 1: get some people convinced. Thanks for this, Sam, always good 673 00:38:01,520 --> 00:38:05,040 Speaker 1: to get your thoughts. Sam Fizzelli, Senior pharmaceutical analyst at 674 00:38:05,080 --> 00:38:08,360 Speaker 1: Bloomberg Intelligence with us this morning. Karen Nathan, it is 675 00:38:08,400 --> 00:38:10,719 Speaker 1: five fifty three on Wall Street. Time for the Bloomberg 676 00:38:10,800 --> 00:38:13,320 Speaker 1: Law Report. Let's get to the legal stories we're watching 677 00:38:13,400 --> 00:38:19,239 Speaker 1: this morning from Bloombergh. Jeff Bellinger, the House passed to 678 00:38:19,360 --> 00:38:22,560 Speaker 1: me too, inspired bill that would black enforcement of arbitration 679 00:38:22,680 --> 00:38:27,600 Speaker 1: requirements or workers alleging sexual harassment or assault. Legislation passed 680 00:38:27,640 --> 00:38:31,000 Speaker 1: by California lawmakers and sent to the governor would require 681 00:38:31,120 --> 00:38:34,360 Speaker 1: employers to provide as much as eighty hours have paid 682 00:38:34,480 --> 00:38:38,200 Speaker 1: COVID Nineteenly, a federal court in Illinois rule that family 683 00:38:38,360 --> 00:38:41,680 Speaker 1: dollar stores must face claims and a proposed class action 684 00:38:41,960 --> 00:38:45,560 Speaker 1: alleging that it's smoked almonds have smoke flavoring and they're 685 00:38:45,640 --> 00:38:49,880 Speaker 1: not actually smoked over an open fire. Bloomberg Law everything 686 00:38:49,960 --> 00:38:54,040 Speaker 1: you need, all on one legal research platform, including guidance 687 00:38:54,120 --> 00:38:58,360 Speaker 1: analysis and Bloomberg market intelligence. Find out more at Bloomberg 688 00:38:58,480 --> 00:39:02,279 Speaker 1: Law dot com. All right, thanks Jeff. Now another legal 689 00:39:02,400 --> 00:39:06,240 Speaker 1: story where watching brings us to the NFL. Former Miami 690 00:39:06,360 --> 00:39:09,680 Speaker 1: Dolphins head coach Brian Flores is accusing the league of 691 00:39:09,800 --> 00:39:14,080 Speaker 1: pervasive racial bias, claiming discrimination denied him the top job 692 00:39:14,160 --> 00:39:17,280 Speaker 1: at the New York Giants. Flores filed a proposed class 693 00:39:17,320 --> 00:39:20,560 Speaker 1: action against the NFL, naming the Giants, Dolphins, and Denver 694 00:39:20,680 --> 00:39:23,799 Speaker 1: Broncos as co defendants. For more in the case, Bloomberge 695 00:39:23,840 --> 00:39:26,960 Speaker 1: doing grounds speaks to sid rao a partner at Romanto Law. 696 00:39:27,640 --> 00:39:30,640 Speaker 1: This is not your typical I was fired due to 697 00:39:30,800 --> 00:39:34,480 Speaker 1: racial discrimination lawsuit. Tell us how it goes way beyond that. 698 00:39:35,239 --> 00:39:38,680 Speaker 1: This complaint, as I read it, is clearly intended for 699 00:39:38,800 --> 00:39:41,840 Speaker 1: a larger audience than just the court were even frankly 700 00:39:41,920 --> 00:39:46,040 Speaker 1: the opposing council, who may be considering their responses anywhere 701 00:39:46,080 --> 00:39:49,640 Speaker 1: from litigation to settlement. So several features about the complaint 702 00:39:49,680 --> 00:39:52,320 Speaker 1: are striking. I mean, number one, it's filed in the 703 00:39:52,360 --> 00:39:54,840 Speaker 1: first day of Black History Month. It begins with quotes 704 00:39:54,840 --> 00:39:58,120 Speaker 1: from Martin Luther King. The very first paragraph has a 705 00:39:58,160 --> 00:40:00,880 Speaker 1: recitation of civil rights figure is going back to the 706 00:40:01,120 --> 00:40:03,800 Speaker 1: nineteenth century, the eighteen hundreds. It creates a sort of 707 00:40:03,880 --> 00:40:07,120 Speaker 1: public lends and a public scrutiny of the NFL that 708 00:40:07,840 --> 00:40:10,400 Speaker 1: I think it's very strategic. Here is and the rhetoric 709 00:40:10,560 --> 00:40:13,480 Speaker 1: of the complaint is clearly pitched at a sort of 710 00:40:13,560 --> 00:40:18,480 Speaker 1: public discussion of race. What is he alleging in his lawsuit? 711 00:40:18,560 --> 00:40:22,520 Speaker 1: What are the allegations he's making. Fundamentally, he's alleging a 712 00:40:22,680 --> 00:40:26,200 Speaker 1: pervasive discrimination on the basis of race as to employment 713 00:40:26,239 --> 00:40:28,680 Speaker 1: opportunities in the NFL. If we look at the numbers 714 00:40:28,760 --> 00:40:32,200 Speaker 1: he's pointing out that the players are black, but currently 715 00:40:32,239 --> 00:40:34,640 Speaker 1: of the thirty two league teams, only one head coach 716 00:40:34,920 --> 00:40:37,719 Speaker 1: is African American or black, and that there is a 717 00:40:37,840 --> 00:40:42,200 Speaker 1: pervasive discriminatory environment that prevents black candidates from being hired 718 00:40:42,239 --> 00:40:45,840 Speaker 1: for head coaching positions, general manager of positions, and the like. Ultimately, 719 00:40:45,880 --> 00:40:48,239 Speaker 1: what the complaints purpose, as I read, is is to 720 00:40:48,360 --> 00:40:51,520 Speaker 1: support that allegation by really digging into the culture of 721 00:40:51,560 --> 00:40:55,560 Speaker 1: the NFL and trying to present a narrative that supports 722 00:40:55,680 --> 00:40:58,759 Speaker 1: this conclusion that there really is a discrimination on the 723 00:40:58,800 --> 00:41:01,239 Speaker 1: basi of race, that is, create an artificial feeling for 724 00:41:01,520 --> 00:41:05,479 Speaker 1: potential black candidates for coaching position. So is the league 725 00:41:05,600 --> 00:41:09,120 Speaker 1: likely to file a motion to dismiss? I suspect the 726 00:41:09,239 --> 00:41:13,480 Speaker 1: league is going to be thinking more about class certification, frankly, 727 00:41:13,560 --> 00:41:16,680 Speaker 1: than um emotion to dismiss, although who's to say that 728 00:41:16,800 --> 00:41:19,560 Speaker 1: they may move to dismiss. But I suspect they're going 729 00:41:19,600 --> 00:41:22,640 Speaker 1: to be attacking the idea that you could certify a 730 00:41:22,719 --> 00:41:26,279 Speaker 1: class here, and they might try to produce evidence or 731 00:41:26,320 --> 00:41:29,480 Speaker 1: create a narrative that even if you could somehow identify 732 00:41:29,560 --> 00:41:32,960 Speaker 1: a class, that the individual's claims would be so different 733 00:41:33,000 --> 00:41:35,000 Speaker 1: and rest on such a different pattern of effects that 734 00:41:35,000 --> 00:41:37,960 Speaker 1: it would be inefficient to adjudicate under Rule twenty three 735 00:41:38,040 --> 00:41:40,240 Speaker 1: class action, and that probably takes them of the window 736 00:41:40,320 --> 00:41:42,520 Speaker 1: of the sales of this case. I certainly think that 737 00:41:43,120 --> 00:41:45,400 Speaker 1: Flores has made a point, you know, in terms of 738 00:41:45,480 --> 00:41:48,000 Speaker 1: the media spotlight that he's put on his case, and 739 00:41:48,239 --> 00:41:51,359 Speaker 1: what he's alleging is a more pervasive pattern discrimination here 740 00:41:51,960 --> 00:41:54,440 Speaker 1: that will need to be dealt with some fashion by 741 00:41:54,480 --> 00:41:58,160 Speaker 1: the NFL simply frankly, to contain reputational damage. And I 742 00:41:58,239 --> 00:42:01,120 Speaker 1: said Row, a partner at Romanos, speaking at the Bloomberg 743 00:42:01,160 --> 00:42:04,200 Speaker 1: Student Grosso. Catch more of that interview plus analysis of 744 00:42:04,239 --> 00:42:06,960 Speaker 1: the latest legal news by listening to the Bloomberg Law 745 00:42:07,040 --> 00:42:09,360 Speaker 1: Show at ten pm Eastern Time or subscribing to the 746 00:42:09,360 --> 00:42:13,280 Speaker 1: Bloomberg Law Podcast, and attorneys can find exceptional legal research 747 00:42:13,320 --> 00:42:17,160 Speaker 1: and business development tools at Bloomberg Law dot com. SMP 748 00:42:17,360 --> 00:42:20,600 Speaker 1: futures are higher of five points down, futures of fifty four, 749 00:42:20,719 --> 00:42:24,440 Speaker 1: NASDAG features up about twelve, and the tenure treasury down 750 00:42:24,520 --> 00:42:27,400 Speaker 1: three thirty seconds. They yelled one point nine two percent. 751 00:42:27,600 --> 00:42:30,600 Speaker 1: They yield on the two year one point three one percent. 752 00:42:31,200 --> 00:42:34,239 Speaker 1: NIMEX screwed oil is down one point eight percent at 753 00:42:34,280 --> 00:42:38,240 Speaker 1: eighty nine dollars, sixty nine cents in barrel, and still ahead. 754 00:42:38,400 --> 00:42:40,759 Speaker 1: On Bloomberg day Break, we have at check on the 755 00:42:40,800 --> 00:42:43,279 Speaker 1: business headlines and all the news you need to start 756 00:42:43,360 --> 00:42:45,719 Speaker 1: your day. This is Bloomberg