WEBVTT - Bloomberg Daybreak: March 21, 2022 - Hour 1 (Radio) 0:00:02.480 --> 0:00:05.880 Live from the Bloomberg Interactive Brokers studios. This is Bloomberg 0:00:05.960 --> 0:00:09.800 day Break for Monday, March two. Coming up this hour, 0:00:10.039 --> 0:00:12.639 a Boeing jet with more than one hundred thirty people 0:00:12.640 --> 0:00:17.360 on board reportedly crashes in China. Ukraine rejects Russia's latest demands. 0:00:17.360 --> 0:00:19.439 As the war years the end of its first month, 0:00:19.520 --> 0:00:22.599 President Biden hosts a call with European leaders to discuss 0:00:22.680 --> 0:00:25.360 the war, and oil surges for a third day with 0:00:25.520 --> 0:00:28.320 no end to the war in sight. Confirmation hearings begin 0:00:28.400 --> 0:00:32.240 today for President Biden. Supreme Court nominee plus Justice Clarence 0:00:32.240 --> 0:00:36.040 Thomas's hospitalized. I'm Michael barn More Ahead, I'm John Stash 0:00:36.040 --> 0:00:38.520 Aaron Sports. The n C Double A tournament field trimmed 0:00:38.560 --> 0:00:41.000 to sixteen, a win for the Rangers, losses for the 0:00:41.040 --> 0:00:46.600 Islanders and Nicks. That's all straight Ahead on Bloomberg day 0:00:46.600 --> 0:00:51.560 Break on Bloomberg Gilman Treo, New York, Bloomberg one, Washington, 0:00:51.680 --> 0:00:55.800 d C, Bloomberg one O six one, Boston, Bloomberg nine sixties, 0:00:55.800 --> 0:00:59.960 San Francisco, Sirius XM one nineteen and around the world. 0:01:00.000 --> 0:01:03.200 Old on Bloomberg Radio dot Com and via the Bloomberg 0:01:03.240 --> 0:01:10.520 Business at and good morning. I'm John Tucker, I'm Nathan Hagar. 0:01:10.560 --> 0:01:12.640 Futures are moving a touch lower to start the week. 0:01:12.640 --> 0:01:14.479 We're coming up to five oh one on Wall Street. 0:01:14.520 --> 0:01:16.760 We checked the markets every fifteen minutes during the training, 0:01:16.800 --> 0:01:19.440 Dawn Bloomberg. Right now, SMP features are down six and 0:01:19.440 --> 0:01:21.640 a half point STAF futures down ninety one. Nest A 0:01:21.720 --> 0:01:25.080 features are lower by sixty. The tenure treasury is down 0:01:25.240 --> 0:01:28.160 nine thirty seconds. Yield two point one eight percent, yield 0:01:28.160 --> 0:01:30.959 on the two year one point nine seven percent. Nim 0:01:31.040 --> 0:01:33.000 X screwed up four and a half percent or four all. 0:01:33.000 --> 0:01:35.319 There's seventy one cents at a hundred nine dollars forty 0:01:35.319 --> 0:01:38.080 one cents a barrel. COMEXS goal down a tenth percent 0:01:38.160 --> 0:01:41.440 or two dollars forty cents at nine fifty announced John 0:01:41.760 --> 0:01:43.320 and Nathan. We're gonna have more of the markets in 0:01:43.400 --> 0:01:46.080 a minute. But first we have breaking news out of Asia, 0:01:46.440 --> 0:01:49.960 the reports of a commercial plane crash in China, and 0:01:50.000 --> 0:01:53.280 Bloomberg's Michael Barr is joining us slide with the very latest. Michael, 0:01:53.280 --> 0:01:56.680 good morning, Good morning, John. Chinese media reports of Boeing 0:01:56.880 --> 0:02:00.680 seven thirty seven n G carrying one to thirty three 0:02:00.720 --> 0:02:05.400 passengers has crashed in southwestern China. Radar tracking from flight 0:02:05.520 --> 0:02:09.800 Radar twenty four shows that China Eastern Airlines flight took 0:02:09.800 --> 0:02:12.400 a steep descent and as it was heading toward the 0:02:12.440 --> 0:02:16.359 province of gong Zoo. The New York Times says local 0:02:16.360 --> 0:02:19.359 officials saw flames and smoke rising from a hillside in 0:02:19.440 --> 0:02:23.480 the area. Chinese State TVs as a rescue team has 0:02:23.520 --> 0:02:27.440 assembled and is approaching the site. So far, China Eastern 0:02:27.520 --> 0:02:30.480 and Boeing have not been available for a common in 0:02:30.560 --> 0:02:34.239 New York. Michael Barn Bloomberg Daybreak. Thanks Michael shares a 0:02:34.280 --> 0:02:37.640 bowling down six percent in early trading following that reported 0:02:37.680 --> 0:02:40.000 crash of Churse. We're gonna bring you the latest details 0:02:40.080 --> 0:02:43.040 all morning right here on Bloomberg Radio. Of course you 0:02:43.120 --> 0:02:45.080 will John. In the meantime, we continue to shift our 0:02:45.120 --> 0:02:48.240 focus to the war in Ukraine as intense attacks continue. 0:02:48.440 --> 0:02:53.200 Ukraine is rejecting Russia's demand to surrender Maria Paul Bloomberg said, 0:02:53.240 --> 0:02:56.120 Baxter has the details. The Kremlin has said that if 0:02:56.160 --> 0:02:59.840 that was done, it would open humanitarian lanes. Ukraine said no, 0:03:00.240 --> 0:03:03.480 and Defense Secretary Lloyd Austin says the Russians may not 0:03:03.600 --> 0:03:05.919 be able to take Marapo. You haven't taken it yet. 0:03:05.960 --> 0:03:09.800 And we've seen in the past that the Ukrainians have counterattacked, 0:03:10.280 --> 0:03:13.720 that they've they've used their initiative to to move things 0:03:13.760 --> 0:03:17.120 around on the battlefield uh And and they presented some 0:03:17.160 --> 0:03:21.400 significant problems for the for the Russians. Meanwhile, more U 0:03:21.480 --> 0:03:24.480 S weaponry is expected to arrive in the next few days. 0:03:25.000 --> 0:03:28.079 In San Francisco, I'm at Baxter Bloomberg Daybreak, I said 0:03:28.200 --> 0:03:31.760 Ukraine's President philodiprs Zalinski is asking for more help. He 0:03:31.800 --> 0:03:35.800 address to Israel's parliament calling out hesitancy to provide military 0:03:35.840 --> 0:03:40.880 aid and join in international sanctions against Moscow did not. 0:03:42.200 --> 0:03:44.760 Could you explain why we are still appealing to the 0:03:44.800 --> 0:03:48.520 world in many countries appealing to you for help. Is 0:03:48.560 --> 0:03:53.200 it in different calculation or mediation without choosing side. I 0:03:53.280 --> 0:03:55.760 leave it to you to choose the answer to this question. 0:03:56.120 --> 0:04:00.880 I only note one thing that indifferent skills Koinian for insident. 0:04:00.920 --> 0:04:04.320 Zelinski has renewed. He's offered to negotiate with Russia's Vladimir 0:04:04.360 --> 0:04:07.640 Putin and a. Zelinsky says Moscow is starting to use 0:04:07.720 --> 0:04:11.839 more destructive artillery in its attacks for President Biden heads 0:04:11.880 --> 0:04:14.840 to Brussels for NATO summit this week John, but before 0:04:14.880 --> 0:04:18.400 that trip, he talks with European and UK leaders. This morning. 0:04:18.680 --> 0:04:22.480 Amy Morris has details from our Bloomberg news room in Washington. 0:04:22.960 --> 0:04:26.359 President Biden's talk with the leaders of France, Germany, Italy 0:04:26.400 --> 0:04:28.839 and the UK is set for eleven this morning while 0:04:28.880 --> 0:04:32.000 street time. While in Europe, the President is also expected 0:04:32.000 --> 0:04:35.600 to visit Warsaw, where he'll meet with Poland's President Andre DooDah. 0:04:35.839 --> 0:04:39.560 Sources tell Bloomberg that later today, senior US officials, including 0:04:39.600 --> 0:04:43.520 Treasury Secretary Janet Ellen and National Security Advisor Jake Sullivan, 0:04:43.800 --> 0:04:47.640 will meet with executives in the energy, refining, financial services, 0:04:47.640 --> 0:04:51.360 and manufacturing sectors. Leaders from ex On, Mobile, JP, Morgan 0:04:51.480 --> 0:04:54.280 Chase and other firms are expected to attend the off 0:04:54.279 --> 0:04:57.440 the record discussion about the global push to sanction Russia, 0:04:57.720 --> 0:05:02.120 up ending supply chains and exacerbating in flationary pressures. In Washington, 0:05:02.240 --> 0:05:04.920 on Many Moore as Bloomberg Daybreak, thanks Amy, Russia has 0:05:04.960 --> 0:05:08.640 begun using hypersonic missiles against Ukraine. It's a shift in 0:05:08.760 --> 0:05:11.120 strategy that may signal a new phase of the war. 0:05:11.520 --> 0:05:13.880 Analysts expect more air power to be used as the 0:05:13.920 --> 0:05:18.360 Russian ground campaign stalls. NATO Secretary General Yan Stoltenberg is 0:05:18.400 --> 0:05:22.200 also worried about chemical weapons. We know that Russia has 0:05:22.279 --> 0:05:29.000 used chemical agents in Europe before against their own political opponents, 0:05:29.320 --> 0:05:34.839 and they Russia has been facilitating supporting the outsold regime 0:05:34.880 --> 0:05:39.280 in Studio where chemical weapons has been used. So this 0:05:39.400 --> 0:05:42.920 is something we take extremely serious. NATO Secretary General Yain 0:05:43.080 --> 0:05:46.160 Stoltenberg made the comments on NBC's Meet the Press, heard 0:05:46.240 --> 0:05:49.120 Sundays on Bloomberg Radio. With no end of the war 0:05:49.200 --> 0:05:52.520 inside John oil is surging for a third day. Attacks 0:05:52.520 --> 0:05:55.919 by Iranian backed revels on energy facilities in Saudi Arabia 0:05:55.960 --> 0:05:59.080 are also adding to upward pressure. Crude has rallied almost 0:05:59.080 --> 0:06:03.520 fourteen percent since Wednesday. Checking prices now, Nimex crudes up 0:06:03.520 --> 0:06:06.120 four point seven percent, or four dollars nine cents at 0:06:06.120 --> 0:06:08.880 a hundred nine dollar sixty three cents a barrel brand 0:06:09.080 --> 0:06:10.839 is up four and a half percent at a hundred 0:06:10.839 --> 0:06:14.160 twelve dollars sixty eight cents, and as crude climbs, inflation 0:06:14.240 --> 0:06:17.440 remains front and center. Today, j Powell gets another chance 0:06:17.480 --> 0:06:19.280 to weigh in on the matter. The Fed share banks 0:06:19.320 --> 0:06:23.200 remarks and answers questions at an economics conference in Washington. 0:06:23.680 --> 0:06:26.800 Critics like former Treasury Secretary Larry Summers say the Central 0:06:26.800 --> 0:06:30.080 Bank needs to hike rates more aggressively. We've got to 0:06:30.200 --> 0:06:35.760 raise interest rates by more than four percentage points. We've 0:06:35.760 --> 0:06:38.520 got to raise them by four percent to stay neutral. 0:06:39.160 --> 0:06:41.720 We probably have to raise them more than that. So 0:06:41.760 --> 0:06:44.480 I think ultimately we're gonna need a four or five 0:06:44.520 --> 0:06:49.880 percent interest rates levels they're not even thinking of as conceivable. 0:06:49.960 --> 0:06:53.560 The former Treasury Secretary and Bloomberg contributor Larry Summers was 0:06:53.600 --> 0:06:56.600 against on Bloomberg's Wall Street week Herd weekdays on Bloomberg 0:06:56.680 --> 0:06:59.679 Radio and television. Stay tuned for those remarks from J. Powell. 0:06:59.680 --> 0:07:02.080 We're gonn bring those two you live, coming up just 0:07:02.200 --> 0:07:05.280 before one pm Wall Street Time. All right on the 0:07:05.400 --> 0:07:08.400 Corvert front this morning, Johnson Merger Monday News. Private equity 0:07:08.400 --> 0:07:11.400 firm Tomma Bravos agreed to buy San Francisco based software 0:07:11.400 --> 0:07:13.800 company and a Plan in a deal valued at ten 0:07:13.840 --> 0:07:16.520 point seven billion dollars and a Plan shares her up 0:07:16.680 --> 0:07:23.720 more than twenty six percent in early training. Nathan Thanks 0:07:23.760 --> 0:07:25.720 five oh seven of Wall Street and let's bring in 0:07:25.760 --> 0:07:27.600 Michael Barr with more on what else is going on 0:07:27.720 --> 0:07:30.480 in New York end around the world. John, thank you 0:07:30.560 --> 0:07:33.120 very much, sir. The Senate Judiciary Committee is set to 0:07:33.160 --> 0:07:38.280 begin it's history confirmation hearings today for Judge Katangi Brown Jackson, 0:07:39.080 --> 0:07:41.640 one year old federal judge would be the first black 0:07:41.640 --> 0:07:44.800 woman on the Supreme Court. Jackson is expected to present 0:07:44.840 --> 0:07:48.000 an opening statement, then answer questions from the committee's eleven 0:07:48.000 --> 0:07:51.880 Democrats and eleven Republicans over the next two days. Senate 0:07:51.880 --> 0:07:54.880 Minority Leader Mitch McConnell says he is keeping an open mind. 0:07:55.080 --> 0:07:57.480 I'm gonna listen to the hearings and by the way, 0:07:57.520 --> 0:08:02.239 she'll be treated much better than Democrats are typically treated. 0:08:02.280 --> 0:08:07.000 Republican nomination like Clarence Thomas and Brett cabinaught. Senator McConnell 0:08:07.120 --> 0:08:10.040 spoke on CBSS Face the Nation, which can be heard 0:08:10.080 --> 0:08:14.840 Sundays on Bloomberg. Supreme Court Justice Clarence Thomas remains hospitalized 0:08:14.880 --> 0:08:18.080 with flu like symptoms. According to the Supreme Court, Thomas 0:08:18.160 --> 0:08:21.120 is being treated with antibiotics for an infection and is 0:08:21.160 --> 0:08:25.160 resting comfortably. The new subvariant of the coronavirus has the 0:08:25.200 --> 0:08:28.600 attention of the nation's top in factious disease. Doctor Dr 0:08:28.640 --> 0:08:32.360 Anthony Fauci says the new coronavirus B A two subvariant 0:08:32.880 --> 0:08:36.959 is about fifty to six more transmissible than omicron. It 0:08:37.000 --> 0:08:41.440 does have an increased transmission capability. However, when you look 0:08:41.440 --> 0:08:43.520 at the cases, they do not appear to be any 0:08:43.559 --> 0:08:47.480 more severe. Dr Fauci says that's the good news, but 0:08:47.679 --> 0:08:49.920 he warns b A two could lead to an increase 0:08:50.200 --> 0:08:53.880 in COVID cases in the weeks ahead. Overall sickness and 0:08:53.920 --> 0:08:58.480 hospitalizations have dropped pre pandemic levels. Fauci spoke on ABC's 0:08:58.559 --> 0:09:00.559 This Week, which can be heard son days right here 0:09:00.559 --> 0:09:05.680 on Bloomberg. Fans welcome back the Cinderella team of the 0:09:05.800 --> 0:09:11.000 men's NC Double A Tournament. Jersey City's St. Peter's University 0:09:11.320 --> 0:09:14.720 got a hero's welcome when they return Sunday, everyone has 0:09:14.760 --> 0:09:17.719 a Peacock Nation is like, this is crazy because we're 0:09:17.760 --> 0:09:20.880 such a small school. Over the weekend, the fifteenth seed 0:09:20.920 --> 0:09:25.760 advanced to the sweet sixteen. Peacock's guard Darryl Banks, this 0:09:25.840 --> 0:09:28.880 is amazing. You know, just growing up, I want to 0:09:28.880 --> 0:09:30.679 play basketball. This is time of the moment that you 0:09:30.720 --> 0:09:33.760 live for. It as you dream of guard Darryl Banks 0:09:33.840 --> 0:09:37.360 and his st Peter's teammates now take on Produe this Fronday, 0:09:37.520 --> 0:09:39.760 Global News twenty four hours a day on It and 0:09:39.920 --> 0:09:42.880 on Bloomberg Quittake, powered by more than twenty seven dred 0:09:42.920 --> 0:09:45.760 journalists and analysts in more than a hundred twenty countries. 0:09:45.800 --> 0:09:49.400 I'm Michael Bard. This is Bloomberg, John Michael, thank you, 0:09:53.640 --> 0:09:55.840 and it is coming up a five tennel wall street 0:09:55.880 --> 0:09:58.800 side out of the Bloomberg Sports Update, here's John Stash 0:09:59.120 --> 0:10:01.040 Thanks Johnny n like turn him at field down to 0:10:01.120 --> 0:10:04.000 the sweet sixth teen and it includes Duke. Mike Schowski's 0:10:04.080 --> 0:10:07.600 coaching career not over yet. Blue Devils pulled away late 0:10:07.679 --> 0:10:10.840 to beat Michigan State. You don't go to the sweet 0:10:10.840 --> 0:10:13.200 sixth Steins just with talent, you do it with character. 0:10:13.920 --> 0:10:17.160 And uh, that's that's what my teams have had. But 0:10:17.800 --> 0:10:20.600 it's not like I've given them that. You know, we've 0:10:20.640 --> 0:10:23.640 recruited that and we've made use of it. Coach k 0:10:23.840 --> 0:10:26.360 and Duke now headed out to San Francisco to play 0:10:26.440 --> 0:10:29.160 Texas Tech, who got by Notre Dame a two seed 0:10:29.200 --> 0:10:32.160 went down last night, Auburn lost to Miami, a one 0:10:32.200 --> 0:10:36.360 seed nearly went down, but Arizona survived in overtime over TCU. 0:10:36.440 --> 0:10:39.400 Eleven seed at Iowa State is moving on. The Cyclones 0:10:39.800 --> 0:10:43.640 went two and twenty two last year, also advancing Villanova, 0:10:43.720 --> 0:10:47.679 Houston and Purdue. Purdue is next for Cinderella St. Peter's 0:10:47.679 --> 0:10:50.439 and that game is Friday night in Philadelphia. At the 0:10:50.480 --> 0:10:53.520 Guard of the Knicks had recent wins over Portland and Washington, 0:10:53.720 --> 0:10:56.360 Utah much better team Jazz came in and won one 0:10:56.360 --> 0:10:59.360 O eight to ninety three. Donovan Mitchell thirty six points, 0:10:59.440 --> 0:11:01.120 r J Barret of the Knicks with twenty four. What 0:11:01.160 --> 0:11:04.360 a weekend for the Rangers. Road wins at Tampa Bay 0:11:04.360 --> 0:11:06.319 the two tons of Fenning Stanley, Cup James, and then 0:11:06.400 --> 0:11:10.120 first place Carolina was too nothing with backup goalie Alex 0:11:10.160 --> 0:11:12.760 Gorgi getting forty four stays in the shutout goals by 0:11:12.840 --> 0:11:15.559 Chris Crying or his forty one and recent Ranger pick 0:11:15.600 --> 0:11:18.920 up Frank Metronto. Islanders lost in Philadelphia to one. Red 0:11:18.960 --> 0:11:21.439 Sox signed Freed and Swarts stop Trevor's story. They plan 0:11:21.520 --> 0:11:23.480 to use him at second base, but up big numbers 0:11:23.480 --> 0:11:25.640 with Colorado or The numbers tend to inflate, but he's 0:11:25.679 --> 0:11:28.280 got plenty of power. He's at thirty seven and thirty 0:11:28.320 --> 0:11:31.920 five home run seasons. John stash A Warner, bloom Bird Sports. John, 0:11:32.040 --> 0:11:34.040 all right, thanks John. Ahead of the cash open, Old 0:11:34.080 --> 0:11:38.400 Wall Street futures right now after last week's games, they're 0:11:38.400 --> 0:11:41.079 in the red this morning. The down futures down one 0:11:41.320 --> 0:11:43.679 d and twelve points. That's at the client about three 0:11:43.720 --> 0:11:47.360 tenths of a percent. Smp E Mini futures line point slower, 0:11:47.480 --> 0:11:50.000 that's down two tenths of a percent. And the head 0:11:50.000 --> 0:11:52.920 of the cash open, the nastaic E Mini futures sixty 0:11:52.960 --> 0:11:56.079 three point slowers this morning. That's down about half a percent. 0:11:56.240 --> 0:11:58.720 As we look at treasuries, the tenure yield this morning, 0:11:59.000 --> 0:12:02.240 it's up three bases points two point one eight percent. 0:12:02.760 --> 0:12:06.959 You're listening to Bloomberg Daybreak and the Bloomberg Weather for 0:12:07.080 --> 0:12:10.600 it today from Gary Bass. Sunshine, the high temperature about 0:12:10.640 --> 0:12:14.400 sixty degrees. Could see some showers after midnight tonight Tomorrow, 0:12:14.400 --> 0:12:23.360 partly sunny. The high temperature about sixty degrees. Markets, headlines 0:12:23.400 --> 0:12:26.360 and breaking news twenty four hours a day at Bloomberg 0:12:26.440 --> 0:12:29.520 dot Com, the Bloomberg Business app, and at Bloomberg Quick 0:12:29.559 --> 0:12:39.120 Tape he's a Bloomberg business lash. Good morning, I'm Nathan Hagar. 0:12:39.240 --> 0:12:43.400 US futures European equities are wavering as crude oil extends 0:12:43.400 --> 0:12:46.560 the climb and investors monitor diplomatic efforts to bring an 0:12:46.600 --> 0:12:49.400 end to Russia's nearly month old war in Ukraine. We 0:12:49.480 --> 0:12:51.960 checked the markets every fifteen minutes during the trading day 0:12:52.000 --> 0:12:54.800 on Bloomberg. Right now, SMP futures are down seven point. 0:12:54.880 --> 0:12:59.280 STAFF futures are down. Nasdaq futures are lower by fifty 0:12:59.360 --> 0:13:03.959 seven point. European stocks very slightly in the green right now, 0:13:03.960 --> 0:13:05.920 with the decks in Germany little change. The cat in 0:13:05.960 --> 0:13:08.360 Paris higher by one tenth of one percent, the foot 0:13:08.360 --> 0:13:10.800 scene London up a half percent. It's in your treasury 0:13:10.880 --> 0:13:12.960 right now, is down ten thirty seconds. The yield two 0:13:12.960 --> 0:13:14.640 point one eight percent. In the yield on the two 0:13:14.720 --> 0:13:17.600 year right now one point nine eight percent. Nime X Screwed, 0:13:17.920 --> 0:13:20.160 as you mentioned, was surging for a three point nine 0:13:20.160 --> 0:13:23.040 percent or too four dollars thirteen cents at a hundred 0:13:23.040 --> 0:13:25.880 eight dollars eighty three cents of barrel. Comex Skulled is 0:13:25.880 --> 0:13:29.360 down two tenths percent at nine fifty announced. That's a 0:13:29.400 --> 0:13:32.400 Bloomberg Business Flash. Now here's Michael Barr. It's more on 0:13:32.480 --> 0:13:34.720 what's going on around the world. Good morning Michael, Good 0:13:34.760 --> 0:13:38.560 morning Nathan. Chinese media reports of Boeing seven thirty seven 0:13:38.840 --> 0:13:43.959 n G carrying one d passengers has crashed in southwestern China. 0:13:44.440 --> 0:13:48.520 Radar tracking from Flight Radar twenty four shows the China 0:13:48.640 --> 0:13:52.400 Eastern Airlines flight took a steep descent as it was 0:13:52.520 --> 0:13:56.120 headed toward the province of gong Zoo. Chinese State TV 0:13:56.360 --> 0:13:59.760 reports that a rescue team has assembled and is approaching 0:13:59.800 --> 0:14:04.000 the sign. Ukrainian officials have defiantly rejected a Russian demand 0:14:04.280 --> 0:14:08.560 that their forces in Mariopo lay down arms and raised 0:14:08.600 --> 0:14:12.520 white flags in exchange for safe passage. The Senate Judiciary 0:14:12.559 --> 0:14:15.160 Committee is set to begin its His Story confirmation hearings 0:14:15.280 --> 0:14:18.080 for Judge Katangi Brown Jackson. The fifty one year old 0:14:18.080 --> 0:14:20.080 federal judge, would be the first black woman on the 0:14:20.080 --> 0:14:24.040 Supreme Court. College basketball demands NZ double a Sweet sixteen 0:14:24.080 --> 0:14:27.800 to set Duke. Kansas and Villanova advanced yesterday. NBA, the 0:14:27.840 --> 0:14:30.920 Knicks and Warriors lost, the Celtics won. In the NHL, 0:14:30.960 --> 0:14:34.040 the Rangers won, the Islanders and Capitals lost. Global news 0:14:34.080 --> 0:14:36.240 twenty four hours a day on air and on Bloomberg 0:14:36.280 --> 0:14:38.960 Quick Take, powered by more than twenty seven journalists and 0:14:38.960 --> 0:14:41.600 analysts more than a hundred twenty countries. I'm Michael Baren. 0:14:41.640 --> 0:14:44.720 This is Bloomberg, Michael, Thanks very much, five twenty on 0:14:44.800 --> 0:14:47.680 Wall Street. We are live from the Bloomberg Interactive Brokers 0:14:47.680 --> 0:14:52.120 studios and this is Bloomberg Daybreak. We do have those 0:14:52.160 --> 0:14:56.080 reports on that commercial passenger plane crash in China. Word 0:14:56.200 --> 0:14:58.720 on that coming through in just the past, our late 0:14:58.760 --> 0:15:01.280 breaking stories still the stop and let's find out what 0:15:01.400 --> 0:15:04.240 we know right now from Bloomberg's Will Davies. He joins 0:15:04.320 --> 0:15:10.240 us from Hong Kong. Will, what can you tell us morning, John? Yeah, 0:15:10.240 --> 0:15:14.040 it's delay developing situation obviously, but what we know so 0:15:14.120 --> 0:15:17.920 far is that the China Eastern Airlines Boeing aircraft is 0:15:18.040 --> 0:15:20.960 that was flying from Kunming to Guangzho in the south 0:15:21.000 --> 0:15:24.560 of China has crashed. There were a hundred twenty three 0:15:24.560 --> 0:15:28.520 passengers and nine crew on board. There's some footage emerging 0:15:28.560 --> 0:15:32.440 online videos showing as of a fiery scenes on the 0:15:32.480 --> 0:15:36.480 mountain side. Um and that's the reports are the playment 0:15:36.520 --> 0:15:39.400 down in a place called the wood job. The Chinese 0:15:39.440 --> 0:15:44.200 aviation regulator is sending in a team to uh probe 0:15:44.200 --> 0:15:46.960 see what's happened, But we haven't heard direct from the 0:15:46.960 --> 0:15:49.360 airlines yet. China Eastern's website has gone to black and 0:15:49.400 --> 0:15:52.760 white as a sort of acknowledgement of something that's happened, 0:15:52.760 --> 0:15:56.560 and the flight radar, those sort of websites are showing 0:15:56.600 --> 0:16:00.480 that took a steep descent um this this plane a 0:16:00.480 --> 0:16:03.400 couple of years ago. Yeah, an investigation about the start 0:16:03.480 --> 0:16:05.920 and the A lot of people don't know. But with 0:16:06.240 --> 0:16:10.360 investigations like this involving Boeing aircraft, the lead investigators usually 0:16:10.400 --> 0:16:14.680 are actually the investigators from the Boeing company itself. Do 0:16:14.720 --> 0:16:17.600 we know anything more about the plane other than it's 0:16:17.600 --> 0:16:20.720 a seven thirty seven. The exact model we're told is 0:16:20.720 --> 0:16:25.520 is energy, So not a seven thirties seven, not a Max. No, No, 0:16:25.720 --> 0:16:29.400 so the Max isn't actually approved for commercial flights in China. Yeah, 0:16:29.440 --> 0:16:31.840 it's one of the last main holdouts. That's been an 0:16:31.840 --> 0:16:34.160 issue for Bowing because China is obviously it's huge, a 0:16:34.240 --> 0:16:36.920 huge market, it's his biggest market, and even Bowing has 0:16:37.000 --> 0:16:40.640 to sort of planets production ramp ups based on its 0:16:40.720 --> 0:16:43.360 access to China's. China's market in China was the first 0:16:43.360 --> 0:16:47.000 to ground the MAX in March two thousand nineteen after 0:16:47.000 --> 0:16:50.240 the crash in Ethiopia. And it's still it was approaching 0:16:50.240 --> 0:16:53.120 that there was taught that you know, there's reports that 0:16:53.160 --> 0:16:55.880 we've reported on that it is going to be cleared 0:16:56.000 --> 0:16:59.640 very soon. Um. So this was not a MAX, but 0:17:00.000 --> 0:17:05.240 it was a six year old cemetery. Um. But yeah, 0:17:05.280 --> 0:17:08.280 I mean, it's obviously a tragedy and it's another setback 0:17:08.320 --> 0:17:10.360 for for Boeing has come at a bad time and 0:17:10.800 --> 0:17:13.639 even sending over investigators. I'm sure they'll make allowances, but 0:17:13.680 --> 0:17:15.480 you know they've got the COVID issues. It's hard to 0:17:15.800 --> 0:17:19.720 even get into China at the moment um and travel 0:17:19.840 --> 0:17:23.439 around is hard. But yeah, the investigation will will need 0:17:23.480 --> 0:17:26.360 to be done. But yeah, another major setback to Bowing. 0:17:26.520 --> 0:17:29.679 Do we know how old this particular model of aircraft 0:17:29.840 --> 0:17:33.720 is and tell me again the operator? And do we 0:17:33.760 --> 0:17:37.240 also know the region where it crashed? Is it particularly 0:17:37.240 --> 0:17:40.760 remote area of China? Do you know? Yeah? I think 0:17:40.880 --> 0:17:44.800 in Guansi Province, which is south it's southwest of China. 0:17:45.080 --> 0:17:47.840 It's kuldn't it was time? Couldn't mean which the capital 0:17:47.840 --> 0:17:50.960 of Yunn. It's a sort of a very large uh 0:17:52.119 --> 0:17:54.920 province in the in the southwest. So from the scene 0:17:54.960 --> 0:17:57.560 that it looks like the video coming through is a 0:17:57.560 --> 0:18:03.320 remote mountain area, UM, rural area, UM. You know, vast 0:18:03.720 --> 0:18:06.720 landscape over in that part of the world heading to Guangzo, 0:18:06.840 --> 0:18:10.600 one of the major Chinese city. UM. This was operated 0:18:10.640 --> 0:18:13.840 by China Eastern Airlines, which is based out of Shanghai. 0:18:14.080 --> 0:18:16.200 That it's one of the big three airlines in China, 0:18:16.240 --> 0:18:18.639 along with Air China and China Southern. You know, China's 0:18:18.640 --> 0:18:21.040 had a good reputation on the air safety or something 0:18:21.080 --> 0:18:23.600 it takes great pride in. It hasn't had a the 0:18:23.680 --> 0:18:28.720 last crash is there in and China Eastern it's last 0:18:28.760 --> 0:18:30.919 sort of fatal crash anyway, it was in two thousand 0:18:30.960 --> 0:18:34.240 and four and in the Mongolia in the north. So um. Yeah, 0:18:34.280 --> 0:18:37.639 this is real shocking development really because China hasn't really 0:18:38.400 --> 0:18:42.520 had many safety issues with the aviation industry, as you 0:18:42.560 --> 0:18:46.240 would sort of alluded to with the Boeing Max. How 0:18:46.320 --> 0:18:48.800 how long it's taken to get that back in the air, 0:18:49.000 --> 0:18:53.440 whereas it's been improved elsewhere. China was the first aground 0:18:53.480 --> 0:18:55.639 that and you know it made to be seen. If 0:18:55.680 --> 0:18:58.440 it's now going to the regulators or the government will 0:18:58.040 --> 0:19:01.560 bat ground other Boeing planes following this particular crash. We 0:19:01.600 --> 0:19:03.119 don't know that yet. We'll keep an eye on it, 0:19:03.320 --> 0:19:06.000 all right, Well, thanks very much. Bloomberg's Will Davies joining 0:19:06.040 --> 0:19:09.760 us from Hong Kong this morning. Again, China Eastern Airlines 0:19:09.840 --> 0:19:14.040 Boeing seven thirty seven eight hundred en G plane on 0:19:14.560 --> 0:19:17.800 thirty two people on boards crashed and the south western 0:19:18.080 --> 0:19:21.800 Western province there in China. Well, thanks very much, we 0:19:21.840 --> 0:19:25.760 appreciate it. It is five the twenty five right here 0:19:25.840 --> 0:19:29.840 on Bloomberg Radio. You're listening to Bloomberg Daybreak. Let's shift 0:19:29.840 --> 0:19:31.960 our attention now to the latest developments on the war 0:19:32.040 --> 0:19:36.240 in Ukraine. Ukraine rejecting a Russian demand that its forces 0:19:36.280 --> 0:19:39.920 laid down their arms and leave Mariopold today. Let's get joined. 0:19:40.280 --> 0:19:42.960 Let's get an update right now. We're joined by Rosalind Mathison, 0:19:42.960 --> 0:19:47.199 Bloomberg's executive editor for International Government. What do we know 0:19:47.280 --> 0:19:49.920 what's taking place on the ground right now? Rose, can 0:19:49.920 --> 0:19:53.399 you give us an update? But what we're saying is 0:19:53.440 --> 0:19:57.280 that the city of Mariopol is remaining under siege. It 0:19:57.440 --> 0:20:01.120 is ugly the city that's suffering the most right now 0:20:01.240 --> 0:20:04.120 in Ukraine with humanitarian aid when he struggling to get 0:20:04.160 --> 0:20:07.680 in and people struggling to get out. So Russia gave 0:20:07.720 --> 0:20:10.479 the city an ultimatum yesterday said if all its troops 0:20:10.480 --> 0:20:13.320 and weapons leave, they will allow aid to come in 0:20:13.359 --> 0:20:17.800 and people safe passage out. Ukraine has rejected that, and 0:20:17.880 --> 0:20:22.120 that deadline expired. This morning's Okay, this is Bloomberg Dave Break. 0:20:22.119 --> 0:20:24.479 I'm Nathan Hager along with John Tucker, and we are 0:20:24.480 --> 0:20:26.920 about four hours away from the open of US trading. 0:20:26.920 --> 0:20:28.240 So let's get you up to date on the news 0:20:28.240 --> 0:20:30.840 you need to you know at this hour. Beginning with 0:20:30.840 --> 0:20:33.240 the breaking news out of Asia reports of a commercial 0:20:33.280 --> 0:20:36.920 plane crash in China, Bloomberg's Michael bar joins US Live 0:20:36.920 --> 0:20:39.600 with the very latest. Good morning, Michael, Good morning Nathan. 0:20:39.680 --> 0:20:43.960 Chinese media reports Boeing seven thirty seven n G carrying 0:20:44.000 --> 0:20:48.919 one thirty two passengers has crashed in southwestern China. Radar 0:20:49.000 --> 0:20:52.640 tracking from Flight Radar twenty four shows the China Eastern 0:20:52.640 --> 0:20:55.720 Airlines flight took a steep descent as it was headed 0:20:55.800 --> 0:20:59.600 toward the province of Guangzho The New York Times says 0:20:59.680 --> 0:21:03.480 local officials saw flames and smoke rising from a hillside 0:21:03.480 --> 0:21:06.879 in the area. Chinese state televisions as a rescue team 0:21:06.880 --> 0:21:10.480 has assembled and as approaching the site live in New York. 0:21:10.760 --> 0:21:13.480 Michael Barer Bloomberg DAB. Thanks Michael. We now turned to 0:21:13.520 --> 0:21:17.200 the latest developments of the war in Ukraine. Ukraine rejecting 0:21:17.320 --> 0:21:19.840 a Russian demand that its forces laid down their arms 0:21:19.840 --> 0:21:24.440 and leave the city of Maripol. More talks expected later today. Yesterday, 0:21:24.560 --> 0:21:29.320 Ukraine's President philodamr Zalinski addressed Israel's parliament, calling out hesitancy 0:21:29.400 --> 0:21:35.600 to provide military aid and joy international sessions. Could you 0:21:35.640 --> 0:21:38.439 explain why we are still appealing to the world in 0:21:38.480 --> 0:21:41.800 many countries, appealing to you for help. Is it in 0:21:41.880 --> 0:21:46.679 different calculation or mediation Without choosing side, I leave it 0:21:46.720 --> 0:21:49.240 to you to choose the answer to this question. I 0:21:49.359 --> 0:21:54.040 only note one thing that in different kills. Ukrainian President Zelinsky, 0:21:54.280 --> 0:21:57.679 renewing his offers to negotiate with Vladimir Putin and Ata. 0:21:57.760 --> 0:22:01.960 Zelinski says Moscow has started using more destructive artillery in 0:22:02.040 --> 0:22:06.000 its attacks, that its artillery includes hypersonic missiles. John and 0:22:06.040 --> 0:22:08.959 analysts say that marks a shift in strategy with Russia 0:22:09.080 --> 0:22:12.600 using more air power as its ground campaign stalls. Lloyd 0:22:12.680 --> 0:22:15.800 Austin is the U S Defense Secretary. I would not 0:22:15.920 --> 0:22:19.480 see it as a game changer. I think again, the 0:22:19.520 --> 0:22:23.640 reason that he's resorting to using these types of weapons 0:22:23.720 --> 0:22:27.680 is because he's trying to re establish some momentum. Secretary 0:22:27.680 --> 0:22:29.919 of Defense Lloyd Austin made the comments on Face the 0:22:30.000 --> 0:22:33.560 Nation from CBS, heard Sundays on Bloomberg Radio and coming 0:22:33.600 --> 0:22:37.000 up today, President Biden speaks with European leaders ahead of 0:22:37.080 --> 0:22:40.120 his trip to the continent this week. Senior US officials 0:22:40.119 --> 0:22:43.160 also meet with executives from excell On Mobile, JP Morgan 0:22:43.240 --> 0:22:46.520 and other firms to discuss the impact of sanctions, and 0:22:46.560 --> 0:22:48.680 traders are also looking out for a speech today from 0:22:48.680 --> 0:22:51.639 FED chair J. Powell. He will make remarks and answer 0:22:51.760 --> 0:22:54.960 questions at an economics conference in Washington. Will bring that 0:22:55.000 --> 0:22:58.320 to you live. That's coming up around one pm Wall 0:22:58.400 --> 0:23:01.119