WEBVTT - Fed-Fueled Rally Continues and Meta Shares Surge

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<v Speaker 1>My from the Bloomberg Interactive Brooker Studios. This is Bloomberg

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<v Speaker 1>day Break for Thursday, February second. Coming up today, stocks

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<v Speaker 1>extend the fed fueld rally. Now it's Europe's turn, with

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<v Speaker 1>the ECB and Bank of England set to raise raids,

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<v Speaker 1>met a share surge on track for their biggest game

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<v Speaker 1>in a decade, and techernies continue with Apple and Amazon

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<v Speaker 1>reporting today there has been an arrest in the attempted

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<v Speaker 1>fire bombing of the New Jersey Synagogue. Plus the US

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<v Speaker 1>says it will increase its military presence in the Philippines.

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<v Speaker 1>I'm Michael blar More Ahead, I'm John Stashward, sports reactor

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<v Speaker 1>to the Tom Brady retirement. The nets cut blown out

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<v Speaker 1>in Boston seton Hall Beat. St John. That's all's trading

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<v Speaker 1>ahead on Bloomberg day Break on Bloomberg eleven three on

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<v Speaker 1>New York, Bloomberg one, Washington, d C, Bloomberg one oh

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<v Speaker 1>six one, Boston, Bloomberg nine sixties and Francisco Sirius x

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<v Speaker 1>M one nine team and the round the world on

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<v Speaker 1>Bloomberg Radio dot com and via the Bloomberg Business App.

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<v Speaker 1>Good morning, I'm Nathan Hagar and I'm Karin Moscow. Here

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<v Speaker 1>are the stories we're following today. It is all about

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<v Speaker 1>the FED this morning. Chair J Powell is vowing to

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<v Speaker 1>keep raising rates, but it looks like markets don't believe him.

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<v Speaker 1>Stocks are rising anyway. Instead, investors are hearing a more

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<v Speaker 1>upbeat outlook on inflation, keying in on the central banks

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<v Speaker 1>failure to push back on the recent rally. Michael Gabon

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<v Speaker 1>Astead of US Economics at Bank of America's securities if

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<v Speaker 1>they really really wanted to push back again expectations of

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<v Speaker 1>easing and financial conditions or cuts later, or just that

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<v Speaker 1>they wanted to kind of, you know, reassert their intent,

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<v Speaker 1>they could have gone fifty and they didn't. Bank of

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<v Speaker 1>America's Michael Gapon says the Fed mayhike one more time

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<v Speaker 1>before pausing. Former Atlanta FED President Dennis Lockhart says that

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<v Speaker 1>next policy meeting will be crucial and March will learn

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<v Speaker 1>a lot, will learn a lot about how they actually

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<v Speaker 1>see this play ending, meaning how they actually, when they're

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<v Speaker 1>closer to it, see a stopping point, a whole period

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<v Speaker 1>and an ultimately a Pivotly easy. Dennis Locker points out

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<v Speaker 1>that j. Powell did not say the FED still has

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<v Speaker 1>a long way to go. Right now, markets are pricing

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<v Speaker 1>in just one more rate hike this year. Well. Interest

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<v Speaker 1>rates are also in focus in Europe, Nathan, we have

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<v Speaker 1>a pair of policy decisions set for this morning, and

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<v Speaker 1>we get a preview from Bloomberg's Leanne Garens. In London,

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<v Speaker 1>the Bank of England and European Central Bank are both

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<v Speaker 1>forecast to raise interest rates by fifty basis points. The

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<v Speaker 1>BAW is expected to lift their main interest rate from

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<v Speaker 1>three point five percent to four percent. Now. This will

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<v Speaker 1>be its tenth consecutive rise. The debate within the ECB

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<v Speaker 1>may be more finely balanced, however. Euro Area headline inflation

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<v Speaker 1>slowed in January by more than expected, but the core

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<v Speaker 1>measure of prices held at an all time high. In London,

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<v Speaker 1>I'm Leanne Gerens Bloomberg at daybreak, Thanks Lee and staying

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<v Speaker 1>in Europe. Shares of Deutsche Bank are down two percent

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<v Speaker 1>this morning. Fourth quarter pretext profit and revenue at the

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<v Speaker 1>firm fell short of estimates, but chief financial officer James

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<v Speaker 1>von Molka says he is still optimistic going forward. We're

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<v Speaker 1>still very pleased with the performance and don't see that

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<v Speaker 1>as any signal about three. In fact, the momentum has

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<v Speaker 1>really continued strongly in Deutsche Banks CFO James von Molka

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<v Speaker 1>made the comments in an interview with Bloomberg. Deutsche Banks

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<v Speaker 1>gains and fixed income trailed Wall Street for the first

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<v Speaker 1>time in ten quarters. Well back here in the US

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<v Speaker 1>and Nathan Shares, a Facebook parent, Meta are surging their

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<v Speaker 1>up almost nine percent following earnings, and we get the

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<v Speaker 1>details live with Bloomberg. Steve rapp Abart, Steve, good morning,

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<v Speaker 1>Good morning, Karen, and Nathan. Meta stock soaring in early

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<v Speaker 1>trading after Mark Zuckerberg touted reforms for the platform. I

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<v Speaker 1>just think we're in We've entered somewhat of a phase

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<v Speaker 1>change for the company where we just grew so quickly

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<v Speaker 1>for like the first eighteen years of the company's growth,

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<v Speaker 1>and it's it's very hard to really crank on efficiency

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<v Speaker 1>while you're growing that quickly, Zuckerberg telling investors. Those changes

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<v Speaker 1>include removing some layers of middle management and the use

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<v Speaker 1>of AI to increase productivity. Met As sales fell four

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<v Speaker 1>percent last quarter but still beat expectations. Live from New York.

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<v Speaker 1>I'm Steve Rappaport Bloomberg Daybreak. Steve. Thanks, it's gonna be

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<v Speaker 1>another big day for tech earnings in the US. Today

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<v Speaker 1>we get a preview from Bloomberg's Jeff Bellinger. Apple and

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<v Speaker 1>Amazon dot Com are both scheduled to open their books

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<v Speaker 1>after the market's close. Apple has been dealing with supply

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<v Speaker 1>chain issues that may have driven iPhone revenue down and

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<v Speaker 1>sales growth may have been muted by the strong dollar,

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<v Speaker 1>But Bloomberg intelligence as the negative foreign exchange impact should

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<v Speaker 1>fade as the year goes on, and lost iPhone revenue

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<v Speaker 1>should recover in the second half. Amazon's fourth quarter sales

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<v Speaker 1>may have risen an anemic six percent. Gains from Amazon

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<v Speaker 1>Web services have slowed, likely offsetting some of the strength

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<v Speaker 1>from online advertising and prime video. Analysts are expecting to

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<v Speaker 1>hear that Amazon had its first unprofitable year since one fourteen.

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<v Speaker 1>Jeff Budinger, Bloomberg day Break. All right, Jeff, thanks, Let's

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<v Speaker 1>turn to India now, where shares of a donnie are

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<v Speaker 1>down another twenty percent a day. More than a hundred

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<v Speaker 1>billion dollars has now been wiped off. Got to mcdonnie's empire.

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<v Speaker 1>Begin More from a Bloomberg Finance reporter Tom metcalf, I

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<v Speaker 1>think we are probably now in meltdown territory. So they

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<v Speaker 1>sold two point five billion dollars worth of shares on Tuesday,

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<v Speaker 1>and then they actually canceled that share sell because the

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<v Speaker 1>share price had fallen so much after that, you know,

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<v Speaker 1>basically the chare sales underwater. But this, for me says

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<v Speaker 1>so much about India, India Inc. And obviously this whole

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<v Speaker 1>kind of massive, hugely wealthy industry's built up around the

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<v Speaker 1>Adorni's Bloomberg's town. Metcalf says, the Donnie's bonds are now

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<v Speaker 1>hitting distressed levels. Let's turn out to the debt debate

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<v Speaker 1>in Washington, Karen. President Biden has held his first meeting

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<v Speaker 1>on spending and the debt ceiling, sitting down yesterday with

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<v Speaker 1>how Speaker Kevin McCarthy. First of all, I had a

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<v Speaker 1>good first meeting. Um I shared my perspective with him,

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<v Speaker 1>he shared it is and we can. We agreed to

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<v Speaker 1>continue the conversation. Speaker McCarthy says he thinks he and

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<v Speaker 1>the President can find common ground on the debt ceiling.

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<v Speaker 1>Terry Haynes, founder of Pangia Policy, says there will have

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<v Speaker 1>to be a deal at some point. I think it's

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<v Speaker 1>very much in Speaker McCarthy's interest to come out and

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<v Speaker 1>be conciliatory. Leave it up to the White House to

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<v Speaker 1>continue the known negotiations. Point Panjia Policies. Terry Haynes spoke

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<v Speaker 1>with our Washington correspondent Joe Matthew on Bloomberg Sound On.

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<v Speaker 1>You can catch the show weekdays five pm Eastern on

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<v Speaker 1>Bloomberg Radio, or listen anytime to the sound On podcast.

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<v Speaker 1>It's twenty nine degrees in Central Park Love a mix

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<v Speaker 1>of sunning clouds today in a high near forty degrees,

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<v Speaker 1>losing the upper twenties tonight with a breeze. Now, let's

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

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

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<v Speaker 1>Michael Bark. Good morning, Michael, Good morning, Nathan. The FBI

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<v Speaker 1>says there has been an arrest after a man was

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<v Speaker 1>seen on video in a ski mask, lighting a Molotov

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<v Speaker 1>cocktail and throwing it at the front door of a Bloomfield,

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<v Speaker 1>New Jersey synagogue. Authorities identified the suspect in the temple

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<v Speaker 1>near to meet attack as Nicholas Malandrados. The U S

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<v Speaker 1>Attorney's Office says the twenty six year old from Clifton

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<v Speaker 1>was charged with federal arson related charges. You will face

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<v Speaker 1>a judge today. Mourners celebrated the life of Tyree Nichols

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<v Speaker 1>at his funeral. The twenty nine year old died three

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<v Speaker 1>weeks ago after video shows Memphis police beating him violently

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<v Speaker 1>during a traffic stop. Vice President Kamala Harris sat with

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<v Speaker 1>the family. We are here on behalf of the people

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<v Speaker 1>of our country and our President Joe Biden Um and

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<v Speaker 1>we are here to celebrate the life of Tyree Nichols.

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<v Speaker 1>Vice President Harris said, nichols memory will shine a light

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<v Speaker 1>towards justice. The US and the Philippines have announced an

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<v Speaker 1>agreement that will give the US a larger military presence

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<v Speaker 1>in the Philippines. Defense Secretary Lloyd Austin spoke in Manila.

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<v Speaker 1>This is an opportunity to increase our effectiveness, increase in

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<v Speaker 1>our operability. It is not about permanent but but it

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<v Speaker 1>is a big deal. It's a really big deal. Secretary

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<v Speaker 1>Austin says. The idea is to deter China's aims on

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<v Speaker 1>Taiwan and boost the Philippines claims in the South China Sea,

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<v Speaker 1>where China continues to increase its operations Israeli warplanes bomb

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<v Speaker 1>parts of the Gaza Strip early today, after a bloody

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<v Speaker 1>month of rising tensions between Palestinians and Israel. The Israeli

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<v Speaker 1>Defense Force has said it's fighter jets struck a production

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<v Speaker 1>site for raw chemical material production. Stick a fork in

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<v Speaker 1>plastic forks. In New York City, Mayor Eric Adams signed

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<v Speaker 1>a new law prohibiting restaurants and delivery services from including

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<v Speaker 1>single use plastic utensils, napkins, and condiment packages in food

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<v Speaker 1>delivery orders unless you ask for them. We must have

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<v Speaker 1>all said it, you know, we ordered something to take

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<v Speaker 1>out and we wonder why is all this plastic? You know,

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<v Speaker 1>utensu We go home, We have utensils at home, and

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<v Speaker 1>this was just a brilliant idea, Mayor Adams says. The

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<v Speaker 1>new law takes effect in July. Global News powered by

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<v Speaker 1>more than twenty seven hundred journalists and analysts in over

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<v Speaker 1>one d twenty countries. I'm Michael Bard. This is Bloomberg, Nathan.

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<v Speaker 1>Thanks Michael Bloomberg. Sports update brought to you by Try

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<v Speaker 1>Stayed Out with John stash Ower Banks Nathan netson cethics

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<v Speaker 1>in Boston. This game was decided very early Celtics jumped

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<v Speaker 1>in front thirty five to seven. They led forty six

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<v Speaker 1>to nineteen at the end of the first quarter. That

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<v Speaker 1>lead grew to forty nine. Boston won by forty six

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<v Speaker 1>nine ninety six. Nick Since that overtime win last week

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<v Speaker 1>in Boston have lost to the Nets and Lakers. Next Tonight,

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<v Speaker 1>host Miami Seaton Hall for the second time this season,

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<v Speaker 1>beat St. John's eighty four seventy two. The Pirates have

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<v Speaker 1>won six of the last seven. The Red Storm dropped

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<v Speaker 1>to four and eight in the Big East top rank

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<v Speaker 1>PERDU one by twenty now twenty two and one on

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<v Speaker 1>the year. Second rank. Tennessee lost at Florida. Big free

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<v Speaker 1>agent signing in the w NBA, Brianna Stewart was an

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<v Speaker 1>m v P and Seattle want two championships there. She's

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<v Speaker 1>coming to New York to play for the Liberty. Tom

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<v Speaker 1>Brady's retirement announcement means Tampa Bay now needs a quarterback,

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<v Speaker 1>so does Las Vegas. They've cut ties with Derek Carr.

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<v Speaker 1>There were thoughts that Brady might go there hook up

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<v Speaker 1>with Josh McDaniels, who he was with for many years

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<v Speaker 1>in New England. Was also top of Brady playing for Miami.

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<v Speaker 1>His kids live there now, but ESPN reported Brady did

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<v Speaker 1>not have any interest in joining a new team, that

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<v Speaker 1>it was going to be either stay with the Bucks

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<v Speaker 1>or retire, which he is doing. A family, my friends, teammates,

0:10:35.160 --> 0:10:38.840
<v Speaker 1>my competitors, I could go on forever. There's too many.

0:10:39.679 --> 0:10:42.360
<v Speaker 1>UM thank you guys for allowing me to live my

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<v Speaker 1>absolute dream. That would change I think Brady insist this retirement,

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<v Speaker 1>unlike last year's, is for good. He's got a ten year,

0:10:50.440 --> 0:10:52.839
<v Speaker 1>three hundred and seventy five million dollar deal to now

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<v Speaker 1>analyze games for Fox. John stash Award Bloomberg Sports Live

0:10:59.640 --> 0:11:03.199
<v Speaker 1>from Hoasted Coast from New York to San Francisco, Boston

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<v Speaker 1>to Washington, d C. Nationwide on Sirius Examp, the Bloomberg

0:11:07.280 --> 0:11:11.360
<v Speaker 1>Business app, and Bloomberg dot Com. This is Bloomberg Daybreak.

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<v Speaker 1>Good morning, I'm Nathan Hagar. The morning after a decision

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<v Speaker 1>from the Federal Reserve, the Central Bank has dialed back

0:11:19.040 --> 0:11:22.400
<v Speaker 1>interest rate increases as expected, with another twenty five basis

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<v Speaker 1>point rate hike, and Chairman J Powell says the Fed

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<v Speaker 1>is making progress in getting prices back to target. Over

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<v Speaker 1>the past year, we've taken forceful actions to tighten the

0:11:32.280 --> 0:11:35.680
<v Speaker 1>stance of monetary policy. We've covered a lot of ground

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<v Speaker 1>and the full effects of our rapid tightening so far

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<v Speaker 1>are yet to be felt. Even so, we have more

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<v Speaker 1>work to do. And now we're joined by Bloomberg opinion

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<v Speaker 1>columnist Marcus Ashworth, and I guess that sets up the

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<v Speaker 1>operative question, Marcus, how much more work does this FED

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<v Speaker 1>have to do? How did you read the statement and

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<v Speaker 1>the news conference from Chairman Powell. Well, I think and

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<v Speaker 1>it's it's on a strong view, but that the set

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<v Speaker 1>is probably done hiking. I mean they may do one more. Certainly,

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<v Speaker 1>if they've done fifty, I would have been more confident

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<v Speaker 1>they won't do anymore. It doesn't make much sense, but

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<v Speaker 1>you know, they could do another five. But I think

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<v Speaker 1>that the juries out on that one there will really

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<v Speaker 1>will be data dependent. Um we've seen from some of

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<v Speaker 1>the labor market data, particularly Jolts, that there is there

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<v Speaker 1>is still a really tight labor market which is keeping them, um,

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<v Speaker 1>you know, on a very much of a bias to Titan.

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<v Speaker 1>But that's what we've shifted down to know, a bias

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<v Speaker 1>the Titan rather than a planned definitive absolutely tiding. They

0:12:34.080 --> 0:12:36.720
<v Speaker 1>know how the market works by going from seventy five

0:12:36.760 --> 0:12:40.359
<v Speaker 1>down a fifty down. They know the market is expecting

0:12:40.960 --> 0:12:44.240
<v Speaker 1>that they'll go to nothing as a hold path for

0:12:44.320 --> 0:12:47.600
<v Speaker 1>a while. Um, it may be after the next meeting,

0:12:47.679 --> 0:12:49.880
<v Speaker 1>or maybe at the next meeting, but I mean we are,

0:12:50.360 --> 0:12:52.720
<v Speaker 1>we've we can see the summit, we may be even

0:12:52.840 --> 0:12:55.880
<v Speaker 1>at it. So I think that's going to filter through clearly.

0:12:55.920 --> 0:12:58.040
<v Speaker 1>The way Power put it, which was fascinating, was that

0:12:58.480 --> 0:13:01.439
<v Speaker 1>he knows the market's running ahead, he's put it down

0:13:01.440 --> 0:13:03.839
<v Speaker 1>to a different view on inflation, and he's relaxed with that.

0:13:04.400 --> 0:13:07.040
<v Speaker 1>That's the body language. I think the market realizes that

0:13:07.200 --> 0:13:09.120
<v Speaker 1>they are. They're not going to all of a sudden

0:13:09.920 --> 0:13:14.960
<v Speaker 1>change and snap back that back that gap information expectations,

0:13:15.040 --> 0:13:17.679
<v Speaker 1>and that's why the market ranny because it was It

0:13:17.800 --> 0:13:21.160
<v Speaker 1>was interesting, wasn't it, Marcus to hear the chairman not

0:13:21.440 --> 0:13:24.720
<v Speaker 1>really pushed back too hard against the looser financial conditions

0:13:25.080 --> 0:13:27.040
<v Speaker 1>that we've seen of late. Is that the main reason

0:13:27.120 --> 0:13:29.920
<v Speaker 1>why you're thinking that there's a bias tour the hike

0:13:29.960 --> 0:13:32.640
<v Speaker 1>as opposed to a plan. Yeah, well we saw it

0:13:32.679 --> 0:13:34.480
<v Speaker 1>from the mark of Canada. I've been thinking it for

0:13:34.520 --> 0:13:37.480
<v Speaker 1>a while. I just that wasn't quite sure, how scary

0:13:37.960 --> 0:13:40.520
<v Speaker 1>j Powe will be. Bear in mind he was absolutely

0:13:40.600 --> 0:13:43.800
<v Speaker 1>horrifying at Jackson Hole and he you know, he's he

0:13:43.920 --> 0:13:45.880
<v Speaker 1>has scared as before and so he can never be

0:13:45.920 --> 0:13:48.319
<v Speaker 1>a hunter of per cent. Sure, but he he was.

0:13:48.440 --> 0:13:51.280
<v Speaker 1>He was relaxed, mellow, He's going to watch and wait,

0:13:51.360 --> 0:13:53.360
<v Speaker 1>see how things are coming along. So I think you know,

0:13:53.440 --> 0:13:56.240
<v Speaker 1>they're just in a bias of time mood now and

0:13:56.400 --> 0:13:59.400
<v Speaker 1>that's uh. You know. He also didn't push back as

0:13:59.679 --> 0:14:01.960
<v Speaker 1>everyone was expecting that the fact that the markets pricing

0:14:02.000 --> 0:14:04.520
<v Speaker 1>and rate cuts by the back end of this year. Um,

0:14:04.920 --> 0:14:06.520
<v Speaker 1>I would have thought he would have been much much

0:14:06.559 --> 0:14:09.439
<v Speaker 1>harsh on that. He wasn't, So I guess you have

0:14:09.559 --> 0:14:12.880
<v Speaker 1>to view it is cautiously calmly dubbish. And I think

0:14:12.920 --> 0:14:16.160
<v Speaker 1>that Southern market reaction is uh, he's not too worried

0:14:16.160 --> 0:14:18.560
<v Speaker 1>about financial conditions not being as tied as he might

0:14:18.640 --> 0:14:22.160
<v Speaker 1>have wanted. So a bit surprised. Um, so I would say, oh,

0:14:22.200 --> 0:14:25.240
<v Speaker 1>we're all dubbish though, it's just that they really want

0:14:25.280 --> 0:14:27.400
<v Speaker 1>to wait, watch and wait. Does this leave room for

0:14:27.440 --> 0:14:29.960
<v Speaker 1>a surprise from what we're gonna hear today from the

0:14:30.040 --> 0:14:32.840
<v Speaker 1>Bank of England and the European Central Bank it seems

0:14:32.880 --> 0:14:36.240
<v Speaker 1>like the markets have priced in even more aggressive rate hikes.

0:14:36.280 --> 0:14:39.280
<v Speaker 1>And what we got from the Fed yesterday, well, I mean,

0:14:39.360 --> 0:14:42.360
<v Speaker 1>the the ECB needs to hike more because they were

0:14:42.560 --> 0:14:45.280
<v Speaker 1>much much later to the party and obviously they had

0:14:45.360 --> 0:14:48.920
<v Speaker 1>much harsher inflation. But we are definitely seeing signs of

0:14:49.200 --> 0:14:52.680
<v Speaker 1>inflation turning down in Europe. So um, and the question

0:14:52.720 --> 0:14:55.560
<v Speaker 1>will be, I mean, we're pretty certain that the c

0:14:55.720 --> 0:14:58.520
<v Speaker 1>B are going to hike fifties, whether they talk, they

0:14:58.560 --> 0:15:01.840
<v Speaker 1>are definitely going to hike f the next time. I'm

0:15:01.880 --> 0:15:03.400
<v Speaker 1>not so sure they will be able to, but and

0:15:03.480 --> 0:15:05.920
<v Speaker 1>the Fed has definitely made room for them. They will

0:15:05.960 --> 0:15:08.120
<v Speaker 1>be very happy about how the Fed at places. It

0:15:08.160 --> 0:15:10.080
<v Speaker 1>gives them a lot more room. You can see the

0:15:10.080 --> 0:15:12.520
<v Speaker 1>strength of the euros. For dollars to one ten you

0:15:12.680 --> 0:15:14.600
<v Speaker 1>will to slip below parity and a few months ago,

0:15:14.680 --> 0:15:16.320
<v Speaker 1>so the last six months of the euro has been

0:15:16.640 --> 0:15:19.920
<v Speaker 1>much much stronger. Um. That will help, I think in

0:15:20.240 --> 0:15:22.960
<v Speaker 1>tening conditions in Europe. At the same time, they're about

0:15:23.000 --> 0:15:25.160
<v Speaker 1>to start que set of tightening and the beginning of March,

0:15:25.840 --> 0:15:28.240
<v Speaker 1>and the balance sheet for the ECB is actually collapsing

0:15:28.360 --> 0:15:31.080
<v Speaker 1>quicker than the Feds. So you know, in some senses,

0:15:31.120 --> 0:15:32.880
<v Speaker 1>the d CBS catching up a lot of steam. A

0:15:32.920 --> 0:15:36.680
<v Speaker 1>fifty basis point hike today will now that gap to

0:15:36.760 --> 0:15:39.200
<v Speaker 1>the to the the U S, which is hence by

0:15:39.240 --> 0:15:41.400
<v Speaker 1>of the euro so strong. So the question is where

0:15:41.400 --> 0:15:43.720
<v Speaker 1>they will need to do more after this. I don't

0:15:43.760 --> 0:15:45.880
<v Speaker 1>think they will. I think they'll drop back to twenty five,

0:15:46.080 --> 0:15:48.720
<v Speaker 1>but they won't be able to show any weakness and

0:15:48.760 --> 0:15:51.480
<v Speaker 1>they'll be all all harsh and what have you. The

0:15:51.560 --> 0:15:55.600
<v Speaker 1>Bank of England, well, we could have almost any result, Nat,

0:15:55.640 --> 0:15:57.760
<v Speaker 1>and it's quite extraordinary. Bear in mind two of the

0:15:58.520 --> 0:16:02.120
<v Speaker 1>Monyitment Policy Committee voted for no change last time, but

0:16:02.280 --> 0:16:05.360
<v Speaker 1>the committee overall vote at the fifty basis points in Serrie,

0:16:05.440 --> 0:16:08.200
<v Speaker 1>you could think that they would deflogie for a coup today.

0:16:08.240 --> 0:16:11.480
<v Speaker 1>I'm sure they won't, but all sorts of possibilities could

0:16:11.480 --> 0:16:14.480
<v Speaker 1>be up there. I'm expecting fifty bought for them to

0:16:14.520 --> 0:16:18.040
<v Speaker 1>say this is pretty much it. However it could be

0:16:18.120 --> 0:16:22.080
<v Speaker 1>twenty five it commute, we just don't know. This is

0:16:22.120 --> 0:16:25.560
<v Speaker 1>Bloomberg Daybreak Today, your morning brief on the stories making

0:16:25.640 --> 0:16:28.880
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