Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: day Break for a Thursday, March seventeen two. Coming up
Speaker 1: this hour, the House years legislation to remove Russia's most
Speaker 1: favorite nation trade status. The bond and stock markets react
Speaker 1: differently to the fits interest rate liftoff. The Bank of
Speaker 1: England set to raise rates this morning, and stocks in
Speaker 1: Asia search for a second straight day. New York expands
Speaker 1: workplace erassment protection for all public employees. Plus preparations continue
Speaker 1: for today's St. Patrick's Day Parade in Manhattan. I'm Michael
Speaker 1: bar More Ahead, I'm John stas Shower and sports easy
Speaker 1: wins for the nixt Nets loss at the Buzzer, Rutgers
Speaker 1: in the n C double As lost in double overtime.
Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg
Speaker 1: Elementary on New York, Bloomberg one, Washington, d C, Bloomberg
Speaker 1: one oh six one, Boston, Bloomberg nine sixties, San Francisco,
Speaker 1: Sirius x M one nineteen and around the world. Old
Speaker 1: on Bloomberg Radio dot Com and via The Bloomberg Business
Speaker 1: And Good Morning. I'm Nathan Hager and I'm Karen Moscow,
Speaker 1: and futures are little change this morning. We are coming
Speaker 1: up to five go one on Wall Street, and we
Speaker 1: check the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg right now SNB futures again little change, down
Speaker 1: three points down. Future is also that will change and
Speaker 1: now has that future is down about fifteen. The ten
Speaker 1: year treasury is a fifteen thirty seconds cel two point
Speaker 1: one three percent, and a yield on the two year
Speaker 1: at one point nine two percent, and the euro one
Speaker 1: point one zero five one against the dollar. Nathan, right, Karen,
Speaker 1: We begin this morning with the latest developments on the war.
Speaker 1: Group of seven FIGM ministers meet virtually today to discuss
Speaker 1: the crisis, while Ukrainian President Vladimir z Leinski addresses the
Speaker 1: lower house of the German Parliament. This comes as Russian
Speaker 1: strikes continue on infrastructure sites in Ukraine. The Ukrainian military
Speaker 1: says a Russian plane bomba theater where hundreds were sheltering.
Speaker 1: Bloomberg's said Baxter has this story this adding to the
Speaker 1: concern about Russia purposely bombing civilians. The max Are satellite
Speaker 1: firm collected images showing the word children in writing in
Speaker 1: white letters in front of and behind the theater. Meanwhile,
Speaker 1: President Joe Biden has promised new munitions to Ukraine. We
Speaker 1: have identified and are helping Ukraine acquire additional longer range
Speaker 1: anti aircraft systems, along with shoulder rockets, Stinger and javelin launchers,
Speaker 1: twenty million rounds of AMMO, and one hundred diving switchblade
Speaker 1: drones in San Francisco, I'm at Baxter, Bloomberg Daybreak, All right,
Speaker 1: and thank you. In all, President Biden has offered eight
Speaker 1: hundred million dollars worth of new weaponry to Ukraine. He
Speaker 1: also branded Russian President Vladimir Putin a war criminal. Later today,
Speaker 1: House land makers are set to revoke normal trained relations
Speaker 1: with Russia. Amy Morris as the latest from our Bloomberg
Speaker 1: newsroom in Washington. Removing Russia's most Favored Nation trade status
Speaker 1: allows the US to impose higher tariffs on goods, sources
Speaker 1: tell Bloomberg News. It also expands the Magnetsky Act, opening
Speaker 1: up the possibility of more sanctions on Russian officials for
Speaker 1: human rights violations. It would take Congress and the President
Speaker 1: together to re establish any trade relationship with Russia. House
Speaker 1: majority leader Stanny Hoyer says the vote will come later today,
Speaker 1: putting Russia in the same category as Cuba and North
Speaker 1: Korea in Washington. I'm any more as Bloomberg Daybreak, okam,
Speaker 1: thank you meantime. In a chilling thread, Vladimir Putin is
Speaker 1: warning he will cleanse Russia of traitors, but any people,
Speaker 1: and even more so, the Russian people will always be
Speaker 1: able to distinguish true patriots from scum and traders and
Speaker 1: simply spit them out like a fly that accidentally flew
Speaker 1: into the mouth, spit them out. I am convinced that
Speaker 1: such a natural and necessary cleansing of society will only
Speaker 1: strengthen our country. Putin is accusing the West of wanting
Speaker 1: to destroy Russia. The finance ministry in Moscow says a
Speaker 1: ten million dollar interest payment that's due on two dollar
Speaker 1: bonds has been made to City Bank in London. It
Speaker 1: comes amid mounting speculation that Rush has headed for a default. Well, Nathan.
Speaker 1: Another major story we're watching this morning is the continued
Speaker 1: reaction to the feds liftoff of interest rates, and Bloomberg's
Speaker 1: John Tucker joins US Live with the latest. John, Good Morning, Karen,
Speaker 1: Stock and bond investors had completely different reactions to the
Speaker 1: feds quarter point rate increase. Stocks rallied bonds sold off.
Speaker 1: The five tenure treasury yield curve inverted for the first
Speaker 1: time since early That's a recessionary signal. At Googgenheim Partners
Speaker 1: chief investment Officers, Scott Minored isn't all that impressed with
Speaker 1: how the FED is doing its job trying to tackle inflation.
Speaker 1: I think that the FED has largely abandoned monetary orthodoxy.
Speaker 1: It's trying to be too cute in how it's it's
Speaker 1: managing this. Guggenheim Scott Minor says they're in an inflation panic.
Speaker 1: The Central Bank also published forecasts from the authority's various officials,
Speaker 1: the so called dark plot that indicated a steeper hiking
Speaker 1: path than before. Live in New York. I'm John Tucker,
Speaker 1: Bloomberg Debris All right, John, thank you. Interest rates are
Speaker 1: also in focus in Europe. Let's get the very latest
Speaker 1: done that Live with Bloomberg's You and Parts. Good Morning,
Speaker 1: you went, Good morning, Nathan and Karen. The Bank of
Speaker 1: England was the first major central bank to titan policy
Speaker 1: after the pandemic, and today you committee members look all
Speaker 1: but certain to high rates for a third successive time.
Speaker 1: If they do, that would take the UK benchmark back
Speaker 1: to its pre COVID level as the bank battles soaring inflation.
Speaker 1: That decision at eight m Eastern Time, Live in London,
Speaker 1: I'm you and parts been both daybreak and thank you.
Speaker 1: Turning to the market started in Asia jumped once again
Speaker 1: on a certain Chinese technology shares. We get the recount
Speaker 1: from Bloomberg's Julietts Sally and Singapore Good morning, Juliet, Good
Speaker 1: morning Nathan and Karen. China's effort to stabilize market saw
Speaker 1: the Hang Saying Index post it's best two day gains
Speaker 1: since the Hang Saying Tech Index added to Wednesday's dizzy
Speaker 1: and twenty two percent gain. However, the Indo exist still
Speaker 1: down more than fifty pc from its February one peak,
Speaker 1: owing to a year long crackdown on the sectum. The
Speaker 1: lift in Hong Kong and Chinese equities or the m
Speaker 1: c I Asia Pacific Index rise over three pc and
Speaker 1: the yan Hovadna six CLO boost nick to to five
Speaker 1: by three and a half percent. That was its best
Speaker 1: to day games since April twenty. In Singapore, Juliette Sally,
Speaker 1: Bloomberg day break. All right, Juliet, thank you know. Despite
Speaker 1: the recent pullback, one Wall Street firm says oil prices
Speaker 1: are heading a lot higher. Let's get more on that
Speaker 1: live from Bloomberg's Rnita Young. Good morning, Na, Good morning, Nathan.
Speaker 1: Morgan Stanley is raising its Brent oil price forecast for
Speaker 1: the third quarter from one hundred dollars to one twenty
Speaker 1: dollars a barrel. Analysts they're are citing tighter supply demand
Speaker 1: balances worldwide. Morgan Stanley says the US import ban and
Speaker 1: self sanctioning in Europe that would mean Russian crewe production
Speaker 1: will drop by one million barrels a day, which would
Speaker 1: be visible from April onwards. Analysts are raising their estimate
Speaker 1: for three from ninety five dollar is two hundred dollars
Speaker 1: of barrel. Live in New York. I'm gonna need a
Speaker 1: young Bloomberg papery. Okay rened to thanks in checking oil now.
Speaker 1: West Texas Intermediate's at ninety eight dollars fifty nine cents
Speaker 1: of barrel. That's a gain of three and three quarters
Speaker 1: per cent on the session. Brent is at a hundred
Speaker 1: one dollars fifty nine cents. Straight ahead. Your latest local
Speaker 1: headlines in the check of sports. This is Bloomberg South,
Speaker 1: five oh seven on Wall Street. Take some time this morning,
Speaker 1: foggy out, forty five degrees in Central Park and Michael
Speaker 1: Barr is here with more on what's going on in
Speaker 1: New York and around the world on this St. Patrick's Day.
Speaker 1: Top of the Morning, Michael, Top of the morning to you.
Speaker 1: Nathan St. Patrick's Day. Celebrations in New York City and
Speaker 1: across the country are back after a two year hiatus.
Speaker 1: New York's Parade, the nation's largest and oldest. We'll go
Speaker 1: up Fifth Avenue starting around eleven am. New York Mayor
Speaker 1: Eric Adams says today you can call him oh. Adams
Speaker 1: resents it in the spirit of the Irish Americans who
Speaker 1: played the mayor jerow in this city, built in a
Speaker 1: Brooklyn Bridge, our mt A system law enforcement. You look
Speaker 1: at the success of New York, you see the Irish
Speaker 1: contribution to it, and you should be proud to be
Speaker 1: Irish today and proud to be New Yorker is and
Speaker 1: proud to be America's Mayor, Adam says. In twenty twenty,
Speaker 1: the parade was canceled as the virus hit the U. S.
Speaker 1: White House Medical adviser Dr Anthony Fauci says Americans need
Speaker 1: to be ready to respond to another potential COVID surge
Speaker 1: if one occurs. Dr Fauci says older individuals may need
Speaker 1: another vaccine booster. I don't think there's any doubt that
Speaker 1: sooner or later, particularly among the elderly, who have less
Speaker 1: of a robust immune response than a normal younger population,
Speaker 1: that sooner or later they will need a boost of
Speaker 1: a fourth shot. Dr Fauci says as more than a
Speaker 1: thousand people a day are still dying of COVID in
Speaker 1: the un US, it looks like the pandemic has led
Speaker 1: to the closing of the nine eleven Tribute Museum in
Speaker 1: Lower Manhattan, according to The Ball Street Journal, Museum officials
Speaker 1: say will likely close permanently after running up too much debt.
Speaker 1: The Tribute Museum, with the staff of about ten, was
Speaker 1: designed to serve the survivor community, while the nearby, better
Speaker 1: known National September eleventh Memorial Museum honors those lost in
Speaker 1: the attack. New York has expanded workplace harassment protection for
Speaker 1: all public employees and has banned the release of anyone's
Speaker 1: employment records in retaliation for speaking up about alleged abuse.
Speaker 1: New York Governor Kathy Hokel signed the new laws yesterday.
Speaker 1: Actor Jesse small Lett has been released from jail in
Speaker 1: Chicago after an appeals court agreed with his lawyers that
Speaker 1: he should be free, penning the appeal of his conviction
Speaker 1: for lying to police about racist and homophobic attack. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg quick Take, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than a d twenty countries. Michael Barr,
Speaker 1: this is Bloomberg, Nathan, Thank you, Michael. Almost five town
Speaker 1: Wall Street. Time for the Bloomberg Sports Uptake Morning, John
Speaker 1: Stanshown right in morning, Nathan. The n C Double A
Speaker 1: Tournament begins in Earnest today sixteen game sixteen more tomorrow.
Speaker 1: By late last night and Dayton, Ohio. Notre Dame could
Speaker 1: Mike Gray suggested that will not be a game an
Speaker 1: attorney better than the one his team had just won.
Speaker 1: In the first four Notre Dame eighty nine Rutgers eighty
Speaker 1: seven double overtime, both teams shot over fift Paul Atkinson
Speaker 1: wanted with a putback with one second left. It came
Speaker 1: just after midnight, so technically the Irish won the game
Speaker 1: on St. Patrick's Day. I ownA lost its first round
Speaker 1: n I T game in Florida, seventy four easy one
Speaker 1: for the next at the Guard over a Portland team
Speaker 1: that started three guys who weren't even drafted. R J.
Speaker 1: Barrett scored thirty one nets and MAV's in Brooklyn. Dallas
Speaker 1: had the ball trailing by one's on that left side
Speaker 1: as it crosses the front court with five up to
Speaker 1: the top with three. Dontch with two gives it up
Speaker 1: to Dinwoody for three of the winnity ferries it. He
Speaker 1: former Net comes back and Spencer den Witty on a
Speaker 1: game winning three. The Mavericks have defeated the Nets one
Speaker 1: thirteen to one eleven. He has been out the call.
Speaker 1: Lukea dons its thirty one point for Dallas. Devils lost
Speaker 1: at Calgary six to three. The Rangers swung the trade
Speaker 1: with Florida, the team with the best record in the East.
Speaker 1: They send a draft pick to the Panthers for Frank Vetronto.
Speaker 1: He gets traded the day after he scored the time
Speaker 1: and winning goals for the Panthers. Freddie Freeman was a
Speaker 1: fixture at first base for the Atlanta Braves, big part
Speaker 1: of winning the World Series last fall, but now he's
Speaker 1: a Dodger, signed for six years. A hundred and sixty
Speaker 1: two million of the Dodgers now have four m vps
Speaker 1: on their roster, with Freeman joining Clayton Kershaw, Coody Billinger
Speaker 1: and Lukey Betts. John Staff Award Bloomberg Sports Okay, John,
Speaker 1: Thanks Right now. SIMP futures are moving lower down almost
Speaker 1: state point. Staff futures down thirty seven. Nastact futures are
Speaker 1: lower by thirty four points. The ten your treasury is
Speaker 1: up sixteen thirty seconds. The yield on the tenure note
Speaker 1: two point one two. You're listening to Bloomberg Daybreak Bloomberg
Speaker 1: eleven three. Weather Fogg This morning, showers likely this afternoon,
Speaker 1: mid fifties for highs will be partly the mostly sunny
Speaker 1: with a high near seventy Tomorrow, occasional rain low sixties
Speaker 1: for Saturday. Right now forty five in Central Park markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot com. The Bloomberg Business at Land at Bloomberg
Speaker 1: Quicktape is a Bloomberg Business Clash and I'm kerin Moscow.
Speaker 1: This update brought to you by SEI. Today's competitive marketplace
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Speaker 1: sei C dot com, slash i m s US dot
Speaker 1: Index futures are now lower. In European shares are little
Speaker 1: changed as traders digest the federal reserves. Of you that
Speaker 1: a robust US economy can weather the campaign against high inflation.
Speaker 1: To check the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg, U, S and P futures down about six
Speaker 1: points down, futures down ten NASDAG features down thirty, the
Speaker 1: decks in Germany's down a third of upper cent. The
Speaker 1: ten year treasury of fifteen thirty seconds yield two point
Speaker 1: one two percent, The yield on the two year one
Speaker 1: point nine three percent. NIMEX screwed oil is at four
Speaker 1: point one percent of three dollars eighty four cents at
Speaker 1: ninety eight dollars eighty eight cents of barrel COLLMIC schooled
Speaker 1: that one point four percent of twenty seven dollars thirty
Speaker 1: cents at nineteen thirty seven, announced the euro one point
Speaker 1: one zero four six against the dollar, British band one
Speaker 1: point three one seven nine and the end at one
Speaker 1: eighteen point six nine Bitcoin this morning moving lower, down
Speaker 1: more than one percent at forty eight hundred thirty dollars.
Speaker 1: And today we are watching for the weekly report on
Speaker 1: initial jobless claims at at eight thirty Wall Street Time,
Speaker 1: along with housing starts and building permits, industrial productions at
Speaker 1: at nine fifteen, and FedEx is among companies scheduled to
Speaker 1: report earnings today. That's a Bloomberg business flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world.
Speaker 1: My good morning, Good morning. Care In a Russian artillery
Speaker 1: destroyed a school and a community center in a city,
Speaker 1: New York arkieve today. That's according to a Ukrainian official.
Speaker 1: It comes a day after an air strike ripped a
Speaker 1: part of theater where hundreds of people have been taking
Speaker 1: shelter in the besieged city of Mariupol. New data released
Speaker 1: by the Census Bureau shows the US grew wealthier, better educated,
Speaker 1: and poverty declined during the second half of the last decade.
Speaker 1: Get ready for a lot of lost productivity at work,
Speaker 1: with St Patrick's day and to day start of the
Speaker 1: nc Double A college basketball tournament. In the playing games yesterday,
Speaker 1: Right State earned its first men's tournament victory, and Notre
Speaker 1: Dame needed double overtime to beat Rutgers to advance. And
Speaker 1: in the NBA the next one, the Nets and Wizards lost,
Speaker 1: Celtics beat the Warriors. In the NHL, the Devil's and
Speaker 1: Bruins lost. Global news twenty four hours a day on
Speaker 1: air and on Bloomberg Quick Take, powered by more than
Speaker 1: twenty seven hundred journalists and analysts in more than a
Speaker 1: hundred twenty gun threes. I'm Michael Barr. This is Bloomberg Nier.
Speaker 1: What a convergence. Okay, Michael, thank you. It is now
Speaker 1: five twenty on Wall Street Live from the Bloomberg Interactive
Speaker 1: Brokers studios. This is Bloomberg Daybreak as we continue monitoring
Speaker 1: developments both militarily and diplomatically in the war in Ukraine.
Speaker 1: Were joined from our Bloomberg ninety one studios in Washington,
Speaker 1: d C. By our Bloomberg Government Congressional reporter Jack Fitzpatrick. Jack,
Speaker 1: good morning, thanks for being with us. We've been monitoring
Speaker 1: President Zelinski of Ukraine as he address as the lower
Speaker 1: house of Germany's parliament this morning. Of course, he spoke
Speaker 1: virtually to the US Congress yesterday. Given the reaction from
Speaker 1: lawmakers and the president, uh, is it safe to say
Speaker 1: that the Ukrainian president's words left an impression with lawmakers
Speaker 1: in the nation's capital. Yes, definitely, he is admired on
Speaker 1: a bipartisan basis. The speech was well received. He on
Speaker 1: a I guess a more substantive, concrete note. He's not
Speaker 1: gonna get everything he asked for. He really was shooting
Speaker 1: for the moon on some of his requests. Obviously, the
Speaker 1: request for a no fly zone over Ukraine was not
Speaker 1: received particularly well. There was a lot of polite, uh
Speaker 1: not not vociferous pushback, but you heard from members in
Speaker 1: both parties that that really is not an option that's
Speaker 1: being considered. Uh. And the request for fighter jets also
Speaker 1: is not something that the administration currently is going for.
Speaker 1: What the President announced yesterday in terms of military aid
Speaker 1: to Ukraine is much more, uh, sort of lightweight handheld
Speaker 1: a hundred smaller drones, javelins, UH, Stinger anti aircraft uh
Speaker 1: and and and helmets and body armor and that kind
Speaker 1: of thing. So it's very well received, but nothing really
Speaker 1: changed that much in terms of where Congress in the
Speaker 1: White House draws a line in terms of what they're
Speaker 1: willing to provide to Ukraine. Well, let's talk a little
Speaker 1: bit jack about what the President is off here. Eight
Speaker 1: hundred million dollars in new military aid for Ukraine. What
Speaker 1: kind of impact could that have on the battles going forward?
Speaker 1: And is there a possibility that the President could be
Speaker 1: leaving open here for further aid down the road. Yes,
Speaker 1: uh one, it is significant eight hundred million dollars. By
Speaker 1: comparison recently, in a more normal year, the US might
Speaker 1: give something like five hundred million or six hundred million
Speaker 1: to Ukraine and military aid. Uh. So this, this one
Speaker 1: batch is a very significant amount of money for a
Speaker 1: country that it is a defense budget that has peaked
Speaker 1: around six billion dollars in recent years. So these are
Speaker 1: again anti aircraft weapons, uh, tank anti tank weapons, a
Speaker 1: hundred drones that are a bit more short range weapons.
Speaker 1: Not exactly patrolling the skies, but it is supposed to
Speaker 1: be effective for groups that are pinned down by enemy
Speaker 1: fire grenade launchers five thousand rifles, uh, that kind of thing.
Speaker 1: But there is a lot of talk in Congress about
Speaker 1: the likelihood that another spending bill will be needed. They're
Speaker 1: waiting to see exactly what the defense needs are, but
Speaker 1: there are already some humanitarian needs the World World Food
Speaker 1: Program at the u n H and actually the Justice
Speaker 1: Department measure targeting Russian oligarchs. According to Lindsay Graham, who
Speaker 1: is a key member on the subcommittee fund funding these
Speaker 1: kinds of things that they already need more money. So
Speaker 1: there's already a conversation about providing more to Ukraine over
Speaker 1: the next few weeks. They think lawmakers are waiting to
Speaker 1: see exactly what is needed, but it seems that more
Speaker 1: eventually will be coming. And in our last minute here, Jack,
Speaker 1: we're also expecting today that the House is going to
Speaker 1: vote to revoke Russia's normal trade status. Is this something
Speaker 1: we're expecting to get by partisan support? Yes, Actually, the
Speaker 1: way this is set up by House leadership UH is
Speaker 1: sort of a speedy process that allows them to skip
Speaker 1: procedural steps if they can get at least two thirds
Speaker 1: of a vote in the House, and that's how they've
Speaker 1: set it up. So clearly House Democrat leaders are expecting
Speaker 1: very significant bipartisans support, the kind that would help this
Speaker 1: probably sail through the House and Senate, where this has
Speaker 1: been talked about in a bipartisan way, uh for for
Speaker 1: a little while now, So the expectation is there's going
Speaker 1: to be a lot of bipartisan support, and that's the
Speaker 1: kind of thing that could become law, all right, And
Speaker 1: we're gonna be monitoring that vote as it comes down
Speaker 1: later on today, Bloomberg Government Congressional Reporter Jack Fitzpatrick, thanks
Speaker 1: for being with us from our ninety nine one studios
Speaker 1: in the nation's capital. Will be checking back with you again,
Speaker 1: uh later in this program, as Bloomberg Daybreak continues, Looking
Speaker 1: ahead to the market open, uh slight losses for futures contracts.
Speaker 1: We're watching the SMP futures go down by about six
Speaker 1: points now down futures are lower by twenty nine points,
Speaker 1: sore Nasdaq Future is actually lower by twenty nine and
Speaker 1: the tenure Treasury is up sixteen thirty seconds with a
Speaker 1: yield two point one two per cent. Just ahead, divergent
Speaker 1: market reaction to the FEDS decision and why oil prices
Speaker 1: could go higher from here. Your top stories of the morning.
Speaker 1: Just ahead on Bloomberg Daybreak, Bloomberg eleven three oh weather
Speaker 1: areas of fog this morning, showers likely this afternoon with
Speaker 1: highs in the mid fifties. Will be probably the mostly
Speaker 1: sunny with a high yr seventy Tomorrow, loose sixties. Occasional
Speaker 1: rain on Saturday. Right now forty five and fog. Broadcasting
Speaker 1: live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston,
Speaker 1: Bloomberg What all six one does? San Francisco, Bloomberg nine
Speaker 1: sixteen to the country, Sirius XM Chado one nineteen and
Speaker 1: around the globe, the Bloomberg Business and Bloomberg Radio dot Com.
Speaker 1: This is Bloomberg Daybreak. It's five thirty on Wall Street.
Speaker 1: Good morning. I'm Nathan Hagar and I'm Karen. Moscow are
Speaker 1: just about four hours away from the open of US trading.
Speaker 1: Let's get you have to date in the news you
Speaker 1: need to know at the shower. Ukrainian officials are demanding
Speaker 1: a cease fire as Russian strikes on cities and infrastructure continue.
Speaker 1: Ukrainian President vladimir's Lenski speaks to Germany's Bundesto today after
Speaker 1: addressing US lawmakers yesterday. Afterwards, President Joe Biden announced the
Speaker 1: US is offering eight hundred million dollars worth of new
Speaker 1: weaponry the Ukraine, including armed drones. The American people will
Speaker 1: be steadfast in our support of the people in Ukraine
Speaker 1: in the face of Putin's immorl on ethical attacks on
Speaker 1: civilian populations. Where are united in our abhorrence of pudens
Speaker 1: depraved onslaught, and We're going to continue to have their
Speaker 1: backs as they fight for their freedom, their democracy, their
Speaker 1: very survival. President Biden called Russian President Vladimir Putin a
Speaker 1: war criminal in his remarks on Capitol Hill. The House
Speaker 1: is voting today to revoke Russia's Most Favored Nation trade status.
Speaker 1: Well meantime, Karen Russia announced it made a hundred seventeen
Speaker 1: million dollar interest payment due on two dollar bonds to
Speaker 1: City Bank in London, but didn't comment on if it
Speaker 1: was credited. If Russia fails to on her coupons on
Speaker 1: the two notes, it could reneg on its obligations to
Speaker 1: foreign creditors for the first time since al Turning to markets,
Speaker 1: Nathan Stock and bond investors are having very different reaction
Speaker 1: to yesterday's quarter point right high from the Fed, and Bloomberg.
Speaker 1: John Tucker joins US Live with the details. John Karen Walls,
Speaker 1: stocks rallied bonds sold off. Five year treasury yields surged
Speaker 1: above ten ure yields. That's an inversion that could signal
Speaker 1: recession ahead. The Fed officials forecast, the so called dot
Speaker 1: plot indicated a steeper path of interest rate than before,
Speaker 1: leading some to suggest the central bank is in an
Speaker 1: inflation panic. Swaps markets now betting seven or eight hikes
Speaker 1: for this year, including the one just announced in New York.
Speaker 1: I'm John Tucker, Bloomberg Radio. All Right, John, Thanks, and
Speaker 1: despite the recent pullback, one Wall Street firm says oil
Speaker 1: prices are heading higher. With the latest Live here's Bloomberg's
Speaker 1: renned A Young, Good morning or good morning. Nathan. Morgan
Speaker 1: Stanley is raising its print oil price forecast for the
Speaker 1: third quarter from a hundred dollars to a hundred twenty
Speaker 1: dollars of barrel. Analyst there's the tighter supply demand balances worldwide.
Speaker 1: Morgan Stanley says the US import band and self sanctioning
Speaker 1: in Europe mean Russian crewe production would drop by a
Speaker 1: million barrels a day, which will be visible from April onwards.
Speaker 1: Analysts raised their three estimate from ninety five dollars to
Speaker 1: a hundred dollars of barrel live in New York. I'm
Speaker 1: Gornita Young Bloomberg day Break. All right, Granita, thank you.
Speaker 1: And futures this morning are lower. SNP Future is down
Speaker 1: six points to own Future is down thirty two. So
Speaker 1: are Nasdack Futures and straight Ahead your latest local headlines
Speaker 1: plus a check of sports. And this is Bloomberg. Thanks turn.
Speaker 1: It's five thirty three on Wall Street, forty five degrees
Speaker 1: in Central Park and very figgin the river crossings this morning.
Speaker 1: Michael Barr has more on what's going on in New
Speaker 1: York and around the world. Michael, thank you very much. Nathan,
Speaker 1: New York. St. Patrick's Day Parade is back in Manhattan.
Speaker 1: He was canceled in twenty because of the pandemic. Last
Speaker 1: year was a scaled down version, but this year Fifth
Speaker 1: Avenue will be packed with marches. New York Mayor Eric
Speaker 1: Adams it means so much to all of us to
Speaker 1: see this pit parade a return. When it's paused, we
Speaker 1: knew we will be back. Mayor Adams says the parade
Speaker 1: will begin. At eleven am, New York Governor Kathy Hocal
Speaker 1: signed legislation expanding the state's anti retaliation protections for people
Speaker 1: filing discrimination and sexual harassment claims. The law effective immediately
Speaker 1: makes the public release of an employee's personnel records grounds
Speaker 1: for retaliation claim. There are new details about that horrific
Speaker 1: head On Highway crash in West Texas. Nine people were killed,
Speaker 1: including six New Mexico College students and their golf coach
Speaker 1: returning from a tournament to other students around the hospital.
Speaker 1: The driver of the other vehicle and a thirteen year
Speaker 1: old passenger were also killed. Eric Weiss with the NTSB
Speaker 1: says the crash was a quote high energy event. It
Speaker 1: was a seventy five mile in our speed limit. Um,
Speaker 1: so that's the information we have on speed. We don't
Speaker 1: have the exact speed of the vehicles of their investigators
Speaker 1: will try to term that. Eric Weiss with the NTSB.
Speaker 1: It's believed the pickups swerved into the van carrying the
Speaker 1: golf team. Two British citizens who had been jailed in
Speaker 1: Iran for more than five years have returned to Britain
Speaker 1: after the UK settled a decade's old debt to a run.
Speaker 1: A third detainee was furloughed as part of the same deal.
Speaker 1: The breakthrough was reached as world leaders trying to negotiate
Speaker 1: the return of both Iran and the US to an
Speaker 1: international agreement designed to limit Tehran's nuclear enrichment program. Actor
Speaker 1: Jesse small Let was released from a Chicago jail, and
Speaker 1: appeals court says he can be free while he appeals
Speaker 1: this conviction for lying about being the victim of a
Speaker 1: racist and homophobic attack. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quicktake, powered by more
Speaker 1: than twenty seven under journalist and analyst or more than
Speaker 1: a hundred twenty countries. I'm Michael bar This is Bloomberg Nathan.
Speaker 1: Thanks Michael. Thirty five on Wall Street Time for the
Speaker 1: Bloomberg Sports Update with John Stark. Nathan knicks back from
Speaker 1: a seven game road trip where they did better than
Speaker 1: expect you with three wins. They had no trouble at
Speaker 1: the Garden with Portland on to r J. Barrett scored
Speaker 1: thirty one. Much closer at the Barkley Center where Spencer
Speaker 1: Dinwin he used to play his career, flourished with the
Speaker 1: nets and he came back hit a game winning three
Speaker 1: at the buzzer to give Dallas a one thirteen, one
Speaker 1: eleven victory. Devil's lost at Calgary six to three. Rangers
Speaker 1: made a trade, with the deadline approaching, center draft pick
Speaker 1: to Florida for veteran forward Frank to Toronto NC double
Speaker 1: A tournament. What a game at the first four in Dayton,
Speaker 1: Ohio went double overtime. Paul Atkinson transferred from Yale, put
Speaker 1: back with one second left, giving Notre Dame in eight
Speaker 1: seven win over Rutgers. Atkinson scored twenty six points. One
Speaker 1: harperd Jr. Had tied the game for the Scarlet Knight
Speaker 1: for the DP three Ionna season ended with an n
Speaker 1: I T loss a Florida. NFL free agency coinciding with
Speaker 1: the recent end of the baseball lockouts, so signings in
Speaker 1: both sports. Von Miller to the Buffalo Bills, Freddie Freeman
Speaker 1: to the Dodgers, Chris Ryant to the Colorado Rockies. Yankees
Speaker 1: made the trade with the Twins resigned Anthony Rizzo. They
Speaker 1: steered clear of the really high price guys, but own
Speaker 1: our house. Steinbrenner have high hopes for the upcoming seas.
Speaker 1: This is the Championship teliber team. Um, you know, I
Speaker 1: think the trade the test made was it was it
Speaker 1: was a great trade. Um. You know, we're gonna we're
Speaker 1: gonna miss the guys that that moved on. But um,
Speaker 1: I think we we addressed one or two of the
Speaker 1: needs that we had. Um. But look, this team's got
Speaker 1: a lot of experience. It's a Vetbrian team. They've got
Speaker 1: a lot of heart and uh, I think we're gonna
Speaker 1: see great things. It's just Stein Banner said. They will
Speaker 1: soon get to work in a new contract for a
Speaker 1: john S bloom Group sports tea. Thank you, John. It's
Speaker 1: five thirty seven on Wall Street. Time for the Tri
Speaker 1: State Business to report with Bloomberg Scott Car. IBM says
Speaker 1: it will consolidate its New York City offices into one
Speaker 1: space at one Madison Avenue. New York Business Journal reports
Speaker 1: the tech giants signed a sixteen year least for three
Speaker 1: d eight thousand square feet at the tower. IBM is
Speaker 1: headquartered north of the city in our Monk nine. IBM
Speaker 1: offices will be merged in two The Planet Commission in
Speaker 1: the small Hartford suburb of Toland, Connecticut, has given the
Speaker 1: go ahead for retail cannabis establishments and most of that
Speaker 1: town's commercial zones, with some restrictions. Under new rules, Hartford
Speaker 1: Business reports, a cannabis retailer or a medical marijuana dispensary
Speaker 1: would be allowed to nearly every commercial zone except one
Speaker 1: small area near route. The New Jersey Transit Board of
Speaker 1: Directors has taken another step in the transition to a
Speaker 1: zero emissions bus fleet with the awarding of a four
Speaker 1: million dollar contract to a coom to design the infrastructure
Speaker 1: required for a limited deployment of electric buses and conduct
Speaker 1: a survey of current conditions at all sixteen and JAY
Speaker 1: Transit bus garages statewide. That's the Bloomberg christ State Business Report.
Speaker 1: I'm Scott Carr. Thank you, Scott. It's five thirty eight
Speaker 1: on Wall Street. Bloomberg Radio is on the air from
Speaker 1: San Francisco to New York, London to Hong Kong. Let's
Speaker 1: check in with our global news team for some of
Speaker 1: the top stories heard on our three hundred affiliate radio
Speaker 1: stations around the world. I'm Steve Kotas. Get on ten
Speaker 1: ten Wins in New York. We're talking about fact Fifth
Speaker 1: Avenue and Coals possibly one day being under the same
Speaker 1: ownership Umbrella. I'm Cornetah on wh S and Louisville, searching
Speaker 1: use car prices are encouraging owners to chase profits. F'm
Speaker 1: Ginas Servetti and for w w BBM in Chicago, I'm
Speaker 1: reporting that burn flu is becoming a problem again in
Speaker 1: the US, pushing up egg prices just ahead of Easter.
Speaker 1: Caroline he had killed BlueBag Daby Digital medium and on
Speaker 1: the wecording on the bank thing Goodwin decision as the
Speaker 1: boy in Ukraine gives energy prices another jokes upwards. I'm
Speaker 1: Scott car on w d c H in Washington. I'm
Speaker 1: reporting on supply chain services loosening up in Virginia. And
Speaker 1: those are some of the stories are Bloomberg journalists and
Speaker 1: analysts are working on this morning around the world. It's
Speaker 1: five thirty nine on Wall Street. The following is an
Speaker 1: editorial from Bloomberg Opinion. What can be done to mitigate
Speaker 1: the short term inflationary pressure for mounting energy costs. The
Speaker 1: challenge is to moderate the upward pressure on short term
Speaker 1: prices without making fossil fuels more attractive in the law term. Ideally,
Speaker 1: planned supplies would be delivered sooner, not persistently raised. The
Speaker 1: strategic petroleum reserve can help. On March one, the US
Speaker 1: announced it would release thirty million barrels of crude from
Speaker 1: its stock of five and eighty million. Releasing stocks into
Speaker 1: the economy. Alleviates the short term disruption, but this can
Speaker 1: and should be combined with so called exchange agreements advanced
Speaker 1: commitments to restock later, which would take supplies off the
Speaker 1: market and reassure producers that until the reserves are replenished,
Speaker 1: they'll be sufficient demand to justify a temporary increase in output.
Speaker 1: Such arrangements helped to stabilize both prices and production. The
Speaker 1: stress is caused by the Russia sanctions will likely be
Speaker 1: long lasting and tough to manage. This more ambitious use
Speaker 1: of the petroleum reserve could make a difference. This editorial
Speaker 1: was written by the Bloomberg Opinion Editorial Board. I'm David Shipley.
Speaker 1: For more Bloomberg Opinion, please go to Bloomberg dot com,
Speaker 1: slash Opinion or OPA and go on the Bloomberg terminal.
Speaker 1: This has been Bloomberg Opinion. Listen for Bloomberg Opinion editorials
Speaker 1: every weekday at this time. Terminal customers can read more
Speaker 1: at O P I N GO futures moving lower, with
Speaker 1: SMP futures now down ten points down, futures down fifty
Speaker 1: five danced A futures lower by forty points of the
Speaker 1: tenure treasury old two point one two per cent. You're
Speaker 1: listening to Bloomberg Daybreak Bloomberg eleven three oh Weather some
Speaker 1: fog this morning, showers likely this afternoon, mid fifties for
Speaker 1: high It's probably the mostly sunny tomorrow with a high
Speaker 1: year seventy most sixties. Occasional rain for Saturday. Right now,
Speaker 1: fog and forty five degrees in Central Park. Markets, headlines
Speaker 1: and breaking news twenty four hours a day at Bloomberg
Speaker 1: dot com, the Bloomberg Business Out and at Bloomberg Quick Take,
Speaker 1: He's a Bloomberg business clash and I'm fair at Moscow
Speaker 1: and stocks in Europe have been fluctuating their higher again.
Speaker 1: You mus stock index futures are lower. Traders are digesting
Speaker 1: the federal reserves of you that are a bust us
Speaker 1: economy can weather the campaign against high inflation. We checked
Speaker 1: the markets every fifteen minutes throughout the trading day on Bloomberg.
Speaker 1: SMP futures down twelve points this morning. Down, futures down
Speaker 1: seventy one nasdack futures down forty five. The decks in
Speaker 1: Germany is down a third of U per cent ten.
Speaker 1: Your treasury up eighteen thirty seconds, yield two point one
Speaker 1: one percent, yield on the two year one point one
Speaker 1: one percent. Ninemex scrat oil is up four and a
Speaker 1: third percent of four dollars thirteen cents and ninety nine
Speaker 1: dollars twenty cents of barrel comic schooled up one point
Speaker 1: eight percent of thirty three dollars ninety cents at nineteen
Speaker 1: forty three forty announced, the euro one point one zero
Speaker 1: five one against the dollar, British bound one point three
Speaker 1: one eight one and the ends at one eighteen point
Speaker 1: six two. And Bitcoin this morning lower down one point
Speaker 1: one percent at forty thousand, eight hundred dollars. And that's
Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more
Speaker 1: on what's going on around the world. Michael Karen, thank
Speaker 1: you very much. Ukrainian President Voladimir z Olenski addressed German
Speaker 1: lall may here's a day after an impassioned address to
Speaker 1: US Congress about Russia's invasion in Ukraine. Meanwhile, China's foreign
Speaker 1: Ministry endorsed supportive remarks by its envoy of Ukraine in
Speaker 1: which Beijing delivered some of his most supportive comments yet
Speaker 1: toward the war torn country. Today is the start in
Speaker 1: earnest of the n c Double A college basketball tournament.
Speaker 1: In the playing games yesterday, Right State has earned its
Speaker 1: first men's tournament victory, and Notre Dame needed double overtime
Speaker 1: against Rutgers to advance. In the NBA the nixt one,
Speaker 1: the Nets and Wizards lost. The Celtics beat the Warriors.
Speaker 1: In the NHL, the Devil's and Bruins lost. Global news
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven journalists and analysts, are
Speaker 1: more than a hundred twenty countries. I'm Michael Barren. This
Speaker 1: is Bloomberg. Nathan all right, Michael. Thanks, It's five forty
Speaker 1: nine on Wall Street Now live from the Bloomberg Interactive
Speaker 1: Broker Studios. This is Bloomberg Daybreak. And Drew Madis is
Speaker 1: with us now, chief market strategist at MetLife Investment Management.
Speaker 1: As we try to get some more reaction now to
Speaker 1: a federal reserve now really in inflation fighting mode. Drew,
Speaker 1: good to have you with us this morning. So the
Speaker 1: market got the quarter percent move that it was expecting,
Speaker 1: and it looks like just about every meeting is live
Speaker 1: from here on out for the rest of the year.
Speaker 1: What do you make of the hawky is turn from
Speaker 1: the Potential Bank? Well, you know, I think we have
Speaker 1: to put it in perspective, which is, you know, they're
Speaker 1: saying they're going to do this, but if you look
Speaker 1: at history in the dot plot, they often don't actually
Speaker 1: follow through and what they say they're they're hoping to achieve.
Speaker 1: And I think this might be a case where they're
Speaker 1: using the dot plot as a policy tool rather than
Speaker 1: actually expecting to go through and do six rate hikes
Speaker 1: this year. So then what do you think the FED
Speaker 1: is going to do, Drew, Well, I I I you know,
Speaker 1: I think they're gonna do fewer. Um, you know, I
Speaker 1: think they're gonna do Q two earlier, which I think
Speaker 1: they already hinted at in the meeting yesterday. He basically said,
Speaker 1: you know, it's it's about time to be reducing the
Speaker 1: balance sheet. So he's putting that on par with rate hikes,
Speaker 1: and I think that's probably appropriate. Um. I think the
Speaker 1: main game here, though, is to convince the world that
Speaker 1: we're serious about fighting inflation, when actually the inflation you're
Speaker 1: trying to fight is not one that's gonna be solved
Speaker 1: by rate hikes. So how do you think the FED
Speaker 1: is going to be able to tackle this kind of inflation?
Speaker 1: What do you think the driving force is going to be?
Speaker 1: Is the FED going to be able to pull off
Speaker 1: a soft landing? Well, we'll see. I mean if they
Speaker 1: if they fall through six rate hikes, I think it's
Speaker 1: gonna be a bumpier and rockier road. Um. I don't
Speaker 1: see how they do that with the unemployment rate forecast
Speaker 1: that they're projecting. Um. And you know, I think their
Speaker 1: growth forecast looks a little robust if they're actually follow
Speaker 1: through with what they're saying. Um. You know. At the
Speaker 1: same time, I think the inflation forecast, you know, uh,
Speaker 1: you know, that looks more reasonable to me. Um. But
Speaker 1: it's probably going to happen if supply chains begin to
Speaker 1: improve and we see some you know, as we've already seen, right,
Speaker 1: energy prices they're not moving the way they were. So
Speaker 1: you know, these things are done in advance, and even
Speaker 1: even from the time they completed the SCP projections to
Speaker 1: to the time they actually put them out and told
Speaker 1: us what they all were. Energy prices pretty much did
Speaker 1: a U turn. So then do you think the dot
Speaker 1: plot is sort of managing market expectations? Then what do
Speaker 1: you think is going to move the FED when it
Speaker 1: turns when it comes to actual rate hikes for the
Speaker 1: rest of this year. Well, I guess i'd flip the
Speaker 1: every meeting is live idea. Right, If every meeting is live,
Speaker 1: that means every meeting may not be imply um. And
Speaker 1: you know, I think for now though, you know, the
Speaker 1: main message that FED was trying to get across was
Speaker 1: we're gonna take and we're gonna take rates into restrictive territory,
Speaker 1: which they've penciled in for three um, in order to
Speaker 1: get inflation under control. All right, Um, they don't really
Speaker 1: care why inflation comes down. They just wanted to come down.
Speaker 1: And I think, uh, they and most other economists on
Speaker 1: Wall Street and myself are all looking for inflation to
Speaker 1: moderate a bit in the second half of this year, Uh,
Speaker 1: simply because of the way inflation behaved last year. Um.
Speaker 1: And I think that's what they're counting on in order
Speaker 1: to kind of signal to the market said hey, you
Speaker 1: know what, maybe all these rate hikes aren't necessary. Um.
Speaker 1: They pencil them in at the beginning of the year
Speaker 1: when everyone was worried about inflation. When people become less
Speaker 1: worried about inflation, they can always pull some back. What
Speaker 1: do you make of the divergent market reaction we saw
Speaker 1: after the news conference, the stock rally, the bond sell off.
Speaker 1: Who do you think is getting it right in the market? Uh, well,
Speaker 1: I mean it could be that the market kind of
Speaker 1: sees it my way, which is, you know, maybe they'll
Speaker 1: go ahead and do this. If they go ahead and
Speaker 1: do this, the bond market is telling you that could
Speaker 1: be a problem. Uh, and the equity markets saying, well,
Speaker 1: you know what, by the time it actually becomes a problem,
Speaker 1: will stop. Um. And and so you kind of get
Speaker 1: the best of both worlds. You keep the bond market.
Speaker 1: I mean, look, they're they're they're they're hiking rates because
Speaker 1: they don't want the tenure. You're moving up by even
Speaker 1: more than it would um, you know if inflation is
Speaker 1: going to be there, right, um. And so yeah, you
Speaker 1: know they're they're also keeping an eye on that inversion,
Speaker 1: right And there's no way in my opinion that you know,
Speaker 1: if if you're the FED and you're looking at things, uh,
Speaker 1: and you're having to decide between hiking rates and not
Speaker 1: hiking rates, and if you high rates the curve inverts that,
Speaker 1: that you go ahead and do that, I'm not really
Speaker 1: sure you know what what what you'd be hoping to
Speaker 1: achieve policy wise by by forcing that issue? Um And
Speaker 1: I think if they do force that issue, you're going
Speaker 1: to see this the equi market behave very differently. Thanks
Speaker 1: for this, True good having you on with us. True
Speaker 1: mattis chief market strategist at MetLife Investment Management. Karen Well Nathan,
Speaker 1: it is coming up to five fifty four on Wall Street.
Speaker 1: Time for a legal story. We're watching this morning, brought
Speaker 1: to you by American Arbitration Association. Business disputes are inevitable,
Speaker 1: resolve faster, but the American Arbitration Association the global leader
Speaker 1: alternative dispute resolution for over ninety years. More at a
Speaker 1: d R dot org. Well. Since Russia invaded Ukraine, more
Speaker 1: than three million people have fled Ukraine to neighboring countries
Speaker 1: like Poland, Hungary, Romania and Slovakia. The EU is allowing
Speaker 1: Ukrainian nationals to travel visa free in Europe and they
Speaker 1: can choose the EU country they would like to stay
Speaker 1: in and apply for temporary protection there. But the United
Speaker 1: States has only admitted a few hundred Ukrainian refugees, and
Speaker 1: it is so difficult to get into the US that
Speaker 1: some Ukrainians are showing up at the Mexico border to
Speaker 1: try to get asylum for more. Bloomberg student ground So
Speaker 1: speaks to Leon Fresco, a partner at Holland and Night
Speaker 1: and a former immigration official in the Obama administration. Leon
Speaker 1: tell us about the calls you've been getting trying to
Speaker 1: arrange for Ukrainians to come to the US. Plenty of
Speaker 1: people are thinking to come here on student visas now,
Speaker 1: on visitor visa, huanitarian parole applications, and it's just going
Speaker 1: to come down to whether the Biden administration provid items
Speaker 1: saying that that's okay to let people come here and
Speaker 1: say during the duration of the crisis, essentially knowing that
Speaker 1: hopefully some large segment of those individuals would go back
Speaker 1: if the war word is subsided, or are they going
Speaker 1: to take a more doctrinal, dogmatic approach and say, look,
Speaker 1: you can't come on a visitor visa if you're from
Speaker 1: Ukraine because we have no evidence you're gonna come back.
Speaker 1: We can't give you a student visa you're from Ukraine
Speaker 1: because we have no evidence you're gonna come back, etcetera.
Speaker 1: The more of those pathways that they cut off, the
Speaker 1: harder it's gonna be. And what you'll see, and you're
Speaker 1: starting to see some matterings of this is actually Ukrainians
Speaker 1: appearing on the southern border and just applying for asylum
Speaker 1: on the southern border. And if that's the only way
Speaker 1: you're gonna let Ukrainians in, that's the way that Ukrainians
Speaker 1: are gonna use if they have an American family member
Speaker 1: that's arranging this for them. Let's say someone calls you
Speaker 1: up and says, my family's in Ukraine now or went
Speaker 1: from Ukraine to Poland. I want to get them into
Speaker 1: this country besides flying to Mexico. What else can you do? Well?
Speaker 1: The groth compelling legal options in terms of what you
Speaker 1: would do doctrinally is something called the humanitarian parole, and
Speaker 1: you would ask them to put together a pocket that
Speaker 1: you would assist in baking with their information and why
Speaker 1: they can't say where they are and why as a
Speaker 1: humanitarian nature, the United States to give them a one
Speaker 1: year parole to sort of weather the storm here and
Speaker 1: then after that one year they can leave, and showing
Speaker 1: that they have sufficient family ties here, that they have
Speaker 1: an economic sponsor here who can take care of them
Speaker 1: while they're here, which would usually be some very close
Speaker 1: family member with a pretty decent income, and you would
Speaker 1: let the chips fall where they may. We're at the
Speaker 1: beginning stages of this process. U s c I S
Speaker 1: endeavors to give decisions in ninety days of these parole applications,
Speaker 1: so we'll know in a few weeks whether U s
Speaker 1: c I S is treating these claims compassionately or not.
Speaker 1: And quite frankly, the state of affairs may be completely
Speaker 1: different in the next few weeks sanative right now, so
Speaker 1: we don't know a lot of this is going to
Speaker 1: be wait and see and as Leon Fresco, a partner
Speaker 1: at Holland and Nights, speaking at the Bloomberg Student Grosso.
Speaker 1: Catch more of that interview, plus analysis of the latest
Speaker 1: legal news by listening to the Bloomberg Law Show at
Speaker 1: ten pm Eastern Time, or subscribing to the Bloomberg Law podcast,
Speaker 1: and attorneys can find exceptional legal research and business development
Speaker 1: tools at Bloomberg law dot com and Bloomberg Jay Break
Speaker 1: continues on a day when futures are trading lower, and
Speaker 1: this is Bloomberg