1 00:00:01,600 --> 00:00:05,000 Speaker 1: My from the Bloomberg Interactive Berger Studios. This is Bloomberg 2 00:00:05,040 --> 00:00:08,879 Speaker 1: day Break for Monday, April two. Coming up this hour, 3 00:00:09,119 --> 00:00:12,200 Speaker 1: Secretary of State b Lincoln and Defense Secretary Austin meet 4 00:00:12,240 --> 00:00:16,600 Speaker 1: with Ukrainian President vladimir's Olinsky in Keene. Emmanuel mcrown wins 5 00:00:16,640 --> 00:00:20,320 Speaker 1: another term as French president. Stocks in China plunge on 6 00:00:20,400 --> 00:00:24,680 Speaker 1: COVID concerns, and Twitter grows more receptive toward Elon Musk's 7 00:00:24,720 --> 00:00:28,040 Speaker 1: takeover offer. New York City firefighter has noted in the 8 00:00:28,080 --> 00:00:30,360 Speaker 1: line of duty. Plus the Supreme Court is set to 9 00:00:30,400 --> 00:00:33,639 Speaker 1: here arguments involving a separation of church and state at 10 00:00:33,680 --> 00:00:36,880 Speaker 1: Michael black More, I'm John Stage and sports the Mets 11 00:00:36,920 --> 00:00:41,159 Speaker 1: and Yankees both one NBA playoff wins from Milwaukee, Miami, Denver, 12 00:00:41,320 --> 00:00:46,919 Speaker 1: and New Orleans. That's all trading ahead on Bloomberg Daybreak 13 00:00:47,240 --> 00:00:51,560 Speaker 1: on Bloomberg eleven, Free on New York, Bloomberg N one, Washington, 14 00:00:51,680 --> 00:00:55,320 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine 15 00:00:55,360 --> 00:00:59,600 Speaker 1: sixties and Francisco, Syrius x M one nineteen and around 16 00:00:59,600 --> 00:01:02,440 Speaker 1: the world on Bloomberg Radio dot Com and via the 17 00:01:02,480 --> 00:01:09,960 Speaker 1: Bloomberg Business app. Good Morning, I'm Nathan Hagart and I'm Karen. Moscow. 18 00:01:10,080 --> 00:01:12,880 Speaker 1: US Dock Index futures are following this morning, coming up 19 00:01:12,880 --> 00:01:14,520 Speaker 1: to five o one on Wall Street, and we checked 20 00:01:14,520 --> 00:01:17,560 Speaker 1: the markets every fifteen minutes throughout the trading day. On Bloomberg, 21 00:01:17,680 --> 00:01:20,520 Speaker 1: U S and P Future is down forty one point down, 22 00:01:20,560 --> 00:01:23,680 Speaker 1: futures down A three hundred five and NASTAG futures down 23 00:01:23,680 --> 00:01:27,319 Speaker 1: one D. Ten year treasury up thirty seconds, EL two 24 00:01:27,319 --> 00:01:29,800 Speaker 1: point eight one percent and they yield on the two 25 00:01:29,880 --> 00:01:33,399 Speaker 1: year two point five nine percent, and NIMEX screwed oil 26 00:01:33,600 --> 00:01:37,039 Speaker 1: is down four point seven percent. Nathan, all right, Karen, 27 00:01:37,040 --> 00:01:39,000 Speaker 1: we'll get back to markets in just a minute. But first, 28 00:01:39,080 --> 00:01:42,560 Speaker 1: there is a significant diplomatic development in the war in Ukraine. 29 00:01:42,880 --> 00:01:45,640 Speaker 1: Secretary of State Anthony B. Lincoln and the Fence Secretary 30 00:01:45,720 --> 00:01:49,000 Speaker 1: Lloyd Austin met with President Vladimir z Olinsky in Kiev. 31 00:01:49,280 --> 00:01:52,120 Speaker 1: They announced a hundred sixty five million dollars in ammunition 32 00:01:52,200 --> 00:01:55,440 Speaker 1: sales and said US diplomats will return to Ukraine as 33 00:01:55,480 --> 00:01:58,600 Speaker 1: soon as this week. Secretary B. Lincoln says Ukraine will 34 00:01:58,720 --> 00:02:03,000 Speaker 1: prevail on the battlefield. Russia has already failed and Ukraine 35 00:02:03,000 --> 00:02:05,880 Speaker 1: has already succeeded because the principal aim that the President 36 00:02:05,880 --> 00:02:08,920 Speaker 1: Putin brought to this in his own words, was to 37 00:02:09,360 --> 00:02:12,880 Speaker 1: fully subsume Ukraine back into Russia to take away its 38 00:02:12,880 --> 00:02:16,239 Speaker 1: sovereigtine independence. And that has not happened and clearly will 39 00:02:16,240 --> 00:02:18,959 Speaker 1: not have. Secretary of State Lincoln was joined by Defense 40 00:02:18,960 --> 00:02:21,840 Speaker 1: Secretary Lloyd Austin, who says the US wants to ensure 41 00:02:21,919 --> 00:02:25,040 Speaker 1: Russia remains weekend. It has already lost a lot of 42 00:02:25,080 --> 00:02:28,360 Speaker 1: military capability and a lot of a lot of its troops, 43 00:02:28,440 --> 00:02:31,640 Speaker 1: quite frankly, and we want to see them not have 44 00:02:31,760 --> 00:02:36,480 Speaker 1: the capability to very quickly reproduce that capability. Secretaries Austin 45 00:02:36,520 --> 00:02:39,240 Speaker 1: and Blincoln are the highest ranking US officials to visit 46 00:02:39,320 --> 00:02:42,800 Speaker 1: Ukraine since Russia's invasion began. Well in France this morning, 47 00:02:42,880 --> 00:02:46,560 Speaker 1: Nathan Politics Front and Center, Emmanuel mccron has won a 48 00:02:46,760 --> 00:02:50,200 Speaker 1: second term as president and again more from Bloomberry's francing 49 00:02:50,240 --> 00:02:54,080 Speaker 1: the Laqua in Paris. Immanuel mccorn defeated far right leader 50 00:02:54,120 --> 00:02:57,320 Speaker 1: Behind le Ben on a pro business, pro European platform. 51 00:02:57,360 --> 00:02:59,639 Speaker 1: He's the first sitting president to get a second term 52 00:02:59,639 --> 00:03:02,079 Speaker 1: in twin t years. McCoy is on course to win 53 00:03:02,080 --> 00:03:06,040 Speaker 1: about fifty eight percent of the vote compared with for Liepin, 54 00:03:06,200 --> 00:03:10,280 Speaker 1: a narrower victory than their previous contest in twe The 55 00:03:10,360 --> 00:03:13,040 Speaker 1: outcome is good news for investors who had predicted that 56 00:03:13,120 --> 00:03:15,840 Speaker 1: a Liepin victory would deliver shock to markets on the 57 00:03:15,880 --> 00:03:18,360 Speaker 1: scale of the UK's vote to leave the EU or 58 00:03:18,400 --> 00:03:20,800 Speaker 1: the election of Donald Trump in the US, but the 59 00:03:20,919 --> 00:03:24,280 Speaker 1: rise in support from behind Loepin's the Nationalist program also 60 00:03:24,320 --> 00:03:27,959 Speaker 1: reflects a bitterly divided country. Speaking to supporters in front 61 00:03:27,960 --> 00:03:31,240 Speaker 1: of the Eiffel Tower in Paris, Macon thanked French voters 62 00:03:31,280 --> 00:03:34,480 Speaker 1: for trusting him after five years of hard times. He 63 00:03:34,560 --> 00:03:37,600 Speaker 1: acknowledged many people voted for him only to block the 64 00:03:37,640 --> 00:03:41,600 Speaker 1: far right, and vowed to be president of all in Paris, 65 00:03:41,680 --> 00:03:44,560 Speaker 1: I'm from de Laqua. Bloomberg day Break, All right, Francine, 66 00:03:44,560 --> 00:03:47,840 Speaker 1: thank you. In Asia, Overnight stocks in China plunged almost 67 00:03:47,960 --> 00:03:51,600 Speaker 1: five percent or worsening COVID outbreak is fueling fears of 68 00:03:51,640 --> 00:03:54,680 Speaker 1: a bigger slowdown in the world's second largest economy. We 69 00:03:54,760 --> 00:03:58,080 Speaker 1: get more from Bloomberg Daybreak Asia anchor Brian Curtis. Authorities 70 00:03:58,160 --> 00:04:01,760 Speaker 1: have lockdown some parts of the Hopital policymakers are racing 71 00:04:01,840 --> 00:04:04,920 Speaker 1: to prevent a repeat of the Shanghai outbreak that has 72 00:04:04,920 --> 00:04:08,440 Speaker 1: hobbled the city for weeks. Shanghai reported record daily deaths 73 00:04:08,480 --> 00:04:11,680 Speaker 1: over the weekend that the lockdowns could hurt growth. Oil 74 00:04:11,720 --> 00:04:15,120 Speaker 1: and iron ore tumbled in Monday morning trading. Bryan Curtis, 75 00:04:15,120 --> 00:04:17,880 Speaker 1: Sloomberg Daybreak. All right, Brian, thank you all Back here 76 00:04:17,920 --> 00:04:20,919 Speaker 1: in the US. We're focusing on Twitter. The social media 77 00:04:21,000 --> 00:04:24,120 Speaker 1: company is growing more receptive to Elon musk forty three 78 00:04:24,160 --> 00:04:27,120 Speaker 1: billion dollar tankover offer. Let's get the latest live from 79 00:04:27,160 --> 00:04:30,719 Speaker 1: Bloomberg's Randit A young good morning, Ready, and a good morning, Karen. Bloomberg. 80 00:04:30,839 --> 00:04:34,359 Speaker 1: Sources say Elon Musk met with Twitter executives on Sunday 81 00:04:34,400 --> 00:04:38,400 Speaker 1: to discuss his offer. Twitter's board initially countered Musk's proposal 82 00:04:38,480 --> 00:04:41,160 Speaker 1: with a poison pill, which would make it more expensive 83 00:04:41,160 --> 00:04:44,520 Speaker 1: for any investor, including Musk, to acquire stock beyond a 84 00:04:44,640 --> 00:04:48,880 Speaker 1: fifteen pent steak. Musk currently owns about nine percent of Twitter, 85 00:04:49,240 --> 00:04:51,719 Speaker 1: but The Wall Street Journal reports Musk says he will 86 00:04:51,760 --> 00:04:54,280 Speaker 1: not adjust his fifty four dollars and twenty cents this 87 00:04:54,400 --> 00:04:58,480 Speaker 1: year offer for Twitter that's above Friday's closing price. The 88 00:04:58,600 --> 00:05:01,840 Speaker 1: journal also reports a you could be finalized as soon 89 00:05:02,000 --> 00:05:04,800 Speaker 1: as this week. Live in New York. I'm gonna need 90 00:05:04,839 --> 00:05:06,760 Speaker 1: a young Bloomberg day Break, all right, we need to 91 00:05:06,839 --> 00:05:09,360 Speaker 1: thank you. Corporate earnings are also in focus, with more 92 00:05:09,400 --> 00:05:12,520 Speaker 1: than a third of the companies in the SMP five reporting. 93 00:05:12,640 --> 00:05:16,760 Speaker 1: This week, we get a preview from Bloomberg's Charlie Pellett, Apple, Amazon, 94 00:05:16,880 --> 00:05:20,960 Speaker 1: and other technology giants report results. As to major industrial, 95 00:05:21,040 --> 00:05:25,560 Speaker 1: healthcare and consumer goods companies. Sarah Malick is chief investment 96 00:05:25,600 --> 00:05:28,640 Speaker 1: officer at Nouven. Who we're watching for for earnings are 97 00:05:28,720 --> 00:05:32,520 Speaker 1: with the demand outlook, pricing, power, supply chain issues so 98 00:05:32,600 --> 00:05:35,200 Speaker 1: going forward, and we're so bullish that earnings will continue 99 00:05:35,200 --> 00:05:39,279 Speaker 1: to drive this market higher. This week we hear from Alphabet, Microsoft, Intel, 100 00:05:39,360 --> 00:05:43,599 Speaker 1: and Texas Instruments among tech names. Also this week, three M, Boeing, 101 00:05:43,680 --> 00:05:47,000 Speaker 1: g E G, m Ford, Caterpillar, x On Mobile, en 102 00:05:47,120 --> 00:05:50,920 Speaker 1: Visa in New York, Charlie Pellet Bloomberg day Break, Turley, 103 00:05:51,000 --> 00:05:54,320 Speaker 1: thank you. Another impact on earnings employee pay. According to 104 00:05:54,360 --> 00:05:58,000 Speaker 1: a survey by the National Association for Business Economics, wages 105 00:05:58,040 --> 00:06:01,120 Speaker 1: increased at a record seventy in of US companies in 106 00:06:01,160 --> 00:06:04,000 Speaker 1: the first quarter. About half of the firm's surveyor still 107 00:06:04,040 --> 00:06:07,560 Speaker 1: reporting shortages of skilled labor. There is a warning going 108 00:06:07,600 --> 00:06:11,160 Speaker 1: out to Democrats, Karen from one of their own. Senator 109 00:06:11,200 --> 00:06:14,120 Speaker 1: Elizabeth Warren says her party could be in real trouble 110 00:06:14,200 --> 00:06:16,520 Speaker 1: in this year's elections if it doesn't do more to 111 00:06:16,600 --> 00:06:18,840 Speaker 1: deal with inflation. I think we're going to be in 112 00:06:18,920 --> 00:06:23,000 Speaker 1: real trouble if we don't get up and deliver that. 113 00:06:23,279 --> 00:06:27,360 Speaker 1: I believe that Democrats are going to lose Democrats when 114 00:06:27,680 --> 00:06:30,960 Speaker 1: when they do what when they work on behalf of 115 00:06:31,040 --> 00:06:34,360 Speaker 1: working people. Senator Warren's hell CNN Democrats need to push 116 00:06:34,360 --> 00:06:38,040 Speaker 1: through legislation to tamp down soaring prices. Christie mcguard also 117 00:06:38,040 --> 00:06:41,200 Speaker 1: speaking out about inflation, Nathan the ECB presidents, saying both 118 00:06:41,240 --> 00:06:43,800 Speaker 1: the US and Europe are struggling to contain prices, but 119 00:06:43,839 --> 00:06:46,880 Speaker 1: the challenges are different. Right now, half of Europe's inflation 120 00:06:46,960 --> 00:06:51,080 Speaker 1: stems from searching energy costs. I believe that we share 121 00:06:51,120 --> 00:06:55,880 Speaker 1: the same result, which is to time inflation, which is 122 00:06:55,920 --> 00:06:58,640 Speaker 1: to use all the tools that we have to do so. 123 00:06:58,920 --> 00:07:02,480 Speaker 1: But we're facing the from beast. ECB president Christine Lagartel 124 00:07:02,560 --> 00:07:05,040 Speaker 1: CBS has faced the nation that if she raised interest 125 00:07:05,080 --> 00:07:07,760 Speaker 1: rates today, it would not bring down energy prices. And 126 00:07:07,800 --> 00:07:11,320 Speaker 1: you can catch face the nation every Sunday on Bloomberg Radio, 127 00:07:11,720 --> 00:07:15,320 Speaker 1: futures are lower this morning, straight ahead, your latest local headlines, 128 00:07:15,480 --> 00:07:23,480 Speaker 1: plus a check of sports. And this is Bloomberg from Karen. 129 00:07:23,560 --> 00:07:26,320 Speaker 1: Thank you. Five oh seven on Wall Street, seven degrees 130 00:07:26,400 --> 00:07:28,360 Speaker 1: in Central Park. We've got a couple of problems going 131 00:07:28,440 --> 00:07:30,680 Speaker 1: both ways on the Garden State Parkway. We'll get to 132 00:07:30,680 --> 00:07:33,320 Speaker 1: the details coming up in traffic. First, Michael Bars here 133 00:07:33,320 --> 00:07:35,400 Speaker 1: with more on what's going on in New York and 134 00:07:35,480 --> 00:07:38,440 Speaker 1: around the world. Good morning, Michael, Good morning Nathan. Officials 135 00:07:38,440 --> 00:07:41,680 Speaker 1: say a New York City firefighter and a civilian have 136 00:07:41,920 --> 00:07:45,520 Speaker 1: dined in a Brooklyn house fire where a ceiling partially collapsed. 137 00:07:45,960 --> 00:07:49,840 Speaker 1: Acting Fire Department of New York Commissioner Laura Kavanaugh said 138 00:07:50,360 --> 00:07:53,320 Speaker 1: thirty one year old firefighter Timothy Klein was a six 139 00:07:53,400 --> 00:07:57,440 Speaker 1: year veteran of the department. The incident commander identified deteriorating 140 00:07:57,440 --> 00:08:00,960 Speaker 1: conditions and ordered all members out of the building. As 141 00:08:01,000 --> 00:08:03,080 Speaker 1: they were doing so, there was a partial collapse of 142 00:08:03,080 --> 00:08:08,080 Speaker 1: the seing. Four members were caught in that collapse. Commissioner 143 00:08:08,160 --> 00:08:12,480 Speaker 1: Kavanaugh said eight other firefighters were also injured in Sunday's blaze, 144 00:08:12,720 --> 00:08:16,680 Speaker 1: and another resident sustained minor injuries. Mayor Eric Adams more 145 00:08:16,720 --> 00:08:21,360 Speaker 1: inclined death, saying the city had lost one of its bravest. Meanwhile, 146 00:08:21,480 --> 00:08:24,600 Speaker 1: Mayor Adams also talked about crime in the city. We 147 00:08:24,680 --> 00:08:27,880 Speaker 1: removed eighteen hundred guns off the streets of our city 148 00:08:27,960 --> 00:08:30,720 Speaker 1: since I've been elected eighteen hundred and so we're put 149 00:08:30,760 --> 00:08:33,920 Speaker 1: in place the foundation of dealing with the immediate needs 150 00:08:33,920 --> 00:08:36,880 Speaker 1: of violence. But we also stopped in the pipeline that 151 00:08:36,960 --> 00:08:41,520 Speaker 1: caused his children to get involved in violence. Mayor Adams 152 00:08:41,520 --> 00:08:44,760 Speaker 1: made his comments on CDs IS sixty Minutes, which aired 153 00:08:44,880 --> 00:08:47,599 Speaker 1: last night. Jerry Selection begins today and one of the 154 00:08:47,720 --> 00:08:51,640 Speaker 1: highest profiled US capital riot trials. A former New York 155 00:08:51,679 --> 00:08:55,640 Speaker 1: City police officers accused of assaulting a Washington police officer 156 00:08:55,840 --> 00:08:59,439 Speaker 1: on January six. Thomas Webster was a former New York 157 00:08:59,480 --> 00:09:02,400 Speaker 1: City Police officer once assigned to the detail of a 158 00:09:02,440 --> 00:09:06,320 Speaker 1: former mayor. He's charged with assaulting police at the Capitol 159 00:09:06,360 --> 00:09:10,559 Speaker 1: on January six with a barricade while carrying a flagpole. 160 00:09:11,000 --> 00:09:14,960 Speaker 1: Prosecutors are expected to show jurors body camera video of 161 00:09:15,000 --> 00:09:19,400 Speaker 1: the confrontation. Webster is also expected to argue self defense 162 00:09:19,440 --> 00:09:23,120 Speaker 1: against an officer who was overstepping The Supreme Court has 163 00:09:23,160 --> 00:09:25,000 Speaker 1: had to hear arguments today in the case of a 164 00:09:25,080 --> 00:09:29,360 Speaker 1: former high school football coach in Bremerton, Washington. Joseph Kennedy 165 00:09:29,720 --> 00:09:33,240 Speaker 1: was fired by the public school district after refusing to 166 00:09:33,280 --> 00:09:36,640 Speaker 1: stop praying on the field after games. Kennedy says his 167 00:09:36,760 --> 00:09:40,800 Speaker 1: First Amendment rights were violated. Global News twenty four hours 168 00:09:40,800 --> 00:09:43,920 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 169 00:09:44,000 --> 00:09:46,920 Speaker 1: more than twenty seven hundred journalist and analyst in more 170 00:09:46,960 --> 00:09:50,360 Speaker 1: than a hundred twenty countries. Not Michael barn This is Bloomberg, Nathan. 171 00:09:50,360 --> 00:09:56,880 Speaker 1: All right, Michael, thank you. It's five oh nine on 172 00:09:57,000 --> 00:09:59,120 Speaker 1: All Street, time for the Bloomberg Sports Update and Morney 173 00:09:59,160 --> 00:10:02,240 Speaker 1: John stash out. Morning Nathan. It's an early season struggles, 174 00:10:02,280 --> 00:10:04,480 Speaker 1: and yet here are the Yankees right now, tied for 175 00:10:04,480 --> 00:10:06,640 Speaker 1: the best record the American Lady. They had their most 176 00:10:06,679 --> 00:10:08,800 Speaker 1: lopsided win of the year, and they had their first 177 00:10:08,840 --> 00:10:12,000 Speaker 1: series suite. They beat the Guardians at the stadium, tended 178 00:10:12,040 --> 00:10:14,400 Speaker 1: to Anthony Rizzo, got him going to on Homer first tinning. 179 00:10:14,440 --> 00:10:16,640 Speaker 1: They were up six nothing in the third, plenty of 180 00:10:16,720 --> 00:10:19,240 Speaker 1: run support for Garrett Cole who got his first win. 181 00:10:19,320 --> 00:10:23,080 Speaker 1: Get a nice ovation from the craft. Obviously nice Uh, 182 00:10:23,600 --> 00:10:27,520 Speaker 1: it's just a nice day overall. Really well played game. 183 00:10:29,320 --> 00:10:31,760 Speaker 1: Um just to get finished to the series suite Fount 184 00:10:31,840 --> 00:10:37,080 Speaker 1: hard Um and really just put a cherry on top 185 00:10:37,080 --> 00:10:39,200 Speaker 1: and played to play a complete three games. And fans 186 00:10:39,200 --> 00:10:42,000 Speaker 1: at the stadium behaved themselves after what happened on Saturday. 187 00:10:42,080 --> 00:10:44,360 Speaker 1: Yanks off tonight that hosts Baltimore tomorrow. Mets with a 188 00:10:44,440 --> 00:10:47,760 Speaker 1: six to win at Arizona's. Tyler McGill improved the three 189 00:10:47,760 --> 00:10:49,960 Speaker 1: and oh and the Mets have won every series they've 190 00:10:50,000 --> 00:10:52,400 Speaker 1: played this season. They have a four game lead in 191 00:10:52,440 --> 00:10:54,800 Speaker 1: the NL East. They're in St. Louis tonight. That's the 192 00:10:54,800 --> 00:10:57,880 Speaker 1: battle of early season National League the losing leaders Final 193 00:10:57,960 --> 00:11:01,080 Speaker 1: Wake in the NHL regular season, Carolina beat the Islanders 194 00:11:01,120 --> 00:11:03,560 Speaker 1: five to two. That puts the Hurricanes four points ahead 195 00:11:03,559 --> 00:11:05,959 Speaker 1: of the Rangers. The team's fighting to win the Division 196 00:11:05,960 --> 00:11:09,240 Speaker 1: of the Keynes will face the Rangers at the Garden tomorrow. 197 00:11:09,240 --> 00:11:12,320 Speaker 1: At Barkley's Tonight, Nets and Celtics game four, with Boston 198 00:11:12,440 --> 00:11:14,640 Speaker 1: going for the sweep. There was some hope that facing 199 00:11:14,720 --> 00:11:16,760 Speaker 1: elimination of the Nets would have Ben Simmons in the 200 00:11:16,760 --> 00:11:19,040 Speaker 1: line up for the first time ever, but citing the 201 00:11:19,120 --> 00:11:22,040 Speaker 1: sworeback Simmons will not play. To stay alive. Nets need 202 00:11:22,040 --> 00:11:24,679 Speaker 1: a better game from Kevin Durand. He has been decisively 203 00:11:24,720 --> 00:11:27,840 Speaker 1: outplayed in the series by Celtics store Jason Tatum Milwaukee 204 00:11:27,920 --> 00:11:30,040 Speaker 1: in Miami, both one of the Road Leader series three 205 00:11:30,040 --> 00:11:32,720 Speaker 1: one Denverse stayed Alize till Trail's Golden State. Three one, 206 00:11:32,760 --> 00:11:35,280 Speaker 1: New Orleans beat Phoenix. That series tied at two. John 207 00:11:35,320 --> 00:11:38,880 Speaker 1: stash Dower bloom Brick Sports okay, John, thank you a 208 00:11:39,000 --> 00:11:43,040 Speaker 1: risk off morning. With SMP futures down forty five points down, 209 00:11:43,040 --> 00:11:47,040 Speaker 1: futures down three thirty, NASTAC futures down a hundred twenty 210 00:11:47,120 --> 00:11:50,320 Speaker 1: six points, The tenure treasury is up twenty thirty seconds, 211 00:11:50,360 --> 00:11:53,480 Speaker 1: the yield two point two per cent, nime X screwed 212 00:11:53,520 --> 00:11:56,600 Speaker 1: down four point nine percent, down five dollars one cent 213 00:11:56,679 --> 00:11:59,240 Speaker 1: to ninety seven dollars four cents a barrel. We look 214 00:11:59,280 --> 00:12:03,000 Speaker 1: at these market next with Dennis Gartman, former publisher of 215 00:12:03,080 --> 00:12:08,560 Speaker 1: the Gartment Letter. This is Bloomberg, Bloomberg eleven three oh 216 00:12:08,600 --> 00:12:11,040 Speaker 1: weather partly sunny today with highs in the low sixties. 217 00:12:11,080 --> 00:12:13,040 Speaker 1: Chants for a few showers tomorrow with a high near 218 00:12:13,080 --> 00:12:16,320 Speaker 1: sixty five. By Wednesday, it turns partly sunny but cooler, 219 00:12:16,400 --> 00:12:22,400 Speaker 1: upper fifties right now forty seven in Central Park Markets. 220 00:12:22,480 --> 00:12:25,520 Speaker 1: Headlines and breaking news twenty four hours a day at 221 00:12:25,559 --> 00:12:29,000 Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg 222 00:12:29,080 --> 00:12:38,520 Speaker 1: Quick Tape. This is a Bloomberg Business flash, and I'm Cameron. 223 00:12:38,600 --> 00:12:42,040 Speaker 1: Moscow's docks and commodities are tumbling as China's worsening COVID 224 00:12:42,080 --> 00:12:45,760 Speaker 1: outbreak compounds fear sparked by faster fed a reserve tightening. 225 00:12:46,160 --> 00:12:48,720 Speaker 1: Bonds are arising. We checked the markets every fifteen minutes 226 00:12:48,760 --> 00:12:50,920 Speaker 1: throughout the trading day. On Bloomberg U S and P. 227 00:12:51,120 --> 00:12:53,839 Speaker 1: Future is down about forty seven points down. Future is 228 00:12:53,840 --> 00:12:57,480 Speaker 1: down three d Nasdack Future is down one D five. 229 00:12:57,640 --> 00:13:00,680 Speaker 1: The decks in Germany's down one point nine person sent ten. 230 00:13:00,720 --> 00:13:03,280 Speaker 1: Your treasury of twenty one thirty seconds held two point 231 00:13:03,280 --> 00:13:05,520 Speaker 1: eight one percent, That yield on the two year two 232 00:13:05,559 --> 00:13:08,839 Speaker 1: point five nine percent. Nine X Screwed oil is down 233 00:13:08,840 --> 00:13:11,480 Speaker 1: four point eight percent, down four dollars ninety one cents 234 00:13:11,480 --> 00:13:14,480 Speaker 1: at ninety seven dollars twenty cents a barrel. Comics gold 235 00:13:14,559 --> 00:13:16,920 Speaker 1: is down nine tenths per cent, or sixteen dollars seventy 236 00:13:16,960 --> 00:13:20,720 Speaker 1: cents at nineteen seventeen sixty announced the euro one point 237 00:13:20,920 --> 00:13:23,320 Speaker 1: seven three eight against the dollar, British pound one point 238 00:13:23,320 --> 00:13:25,959 Speaker 1: to seven four zero, the un is at one eight 239 00:13:26,000 --> 00:13:29,040 Speaker 1: point one one, and Bitcoin this morning lower down more 240 00:13:29,080 --> 00:13:32,959 Speaker 1: than three percent at thirty eight thousand, two hundred ninety dollars. 241 00:13:33,120 --> 00:13:36,160 Speaker 1: Today we are watching for earnings from companies, including Coca Cola, 242 00:13:36,400 --> 00:13:38,920 Speaker 1: and that's a Bloomberg business flash. Now here's Michael Barr 243 00:13:39,040 --> 00:13:41,280 Speaker 1: with more on what's going on around the world. Michael, 244 00:13:41,320 --> 00:13:44,720 Speaker 1: good morning, Good morning, Karen, U training An officials saying 245 00:13:44,800 --> 00:13:48,360 Speaker 1: the U S Secretaries of State and Defense have met 246 00:13:48,400 --> 00:13:52,959 Speaker 1: with President Belodamir Zelinsky in Key. French President Emmanuel McCraw 247 00:13:53,120 --> 00:13:56,160 Speaker 1: has secured another term in office, handily defeating is far 248 00:13:56,320 --> 00:13:59,480 Speaker 1: right opponent Marine Leapin. The Chrome won a second term 249 00:13:59,480 --> 00:14:02,240 Speaker 1: with roughly fifty eight percent of the vote, depend got 250 00:14:02,240 --> 00:14:06,480 Speaker 1: about forty two. In MLB, the Yankees and Mets one. 251 00:14:06,559 --> 00:14:09,000 Speaker 1: The Red Sox and Orioles lost. The Giants beat the 252 00:14:09,080 --> 00:14:13,480 Speaker 1: Nationals twelve three the A's one. Tonight, it will be 253 00:14:14,040 --> 00:14:16,800 Speaker 1: do or dive for the Brooklyn Nets as they try 254 00:14:16,840 --> 00:14:20,120 Speaker 1: to stay off elimination from the Boston Celtics. They will 255 00:14:20,160 --> 00:14:23,760 Speaker 1: play Game four tonight, also in the NBA Playoffs, the 256 00:14:23,800 --> 00:14:26,560 Speaker 1: Warriors lost to the Nuggets. Golden States still has the 257 00:14:26,640 --> 00:14:29,320 Speaker 1: three games to one lead in that series. Global News 258 00:14:29,360 --> 00:14:32,040 Speaker 1: twenty four hours a day on air and on Bloomberg 259 00:14:32,120 --> 00:14:35,760 Speaker 1: Quick Take, powered by more than hundred journalists and analyst 260 00:14:35,840 --> 00:14:38,160 Speaker 1: more than a hundred twenty countries. Hi, Michael Barr, and 261 00:14:38,200 --> 00:14:41,200 Speaker 1: this is Bloomberg. Nathan, Okay, Michael, thank you. It's five 262 00:14:41,320 --> 00:14:44,560 Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Brooker Studios. 263 00:14:44,600 --> 00:14:47,480 Speaker 1: This is Bloomberg Daybreak, and Dennis Gartment is with us 264 00:14:47,520 --> 00:14:50,440 Speaker 1: this morning, chairman of the University of Akron Endowment Investment 265 00:14:50,480 --> 00:14:53,240 Speaker 1: Committee and of course, former publisher of the Gartment Letter. 266 00:14:53,320 --> 00:14:56,360 Speaker 1: As we see deep red for risk assets on the 267 00:14:56,400 --> 00:14:59,680 Speaker 1: screen this morning, it seems as though Dennis did tell me, 268 00:14:59,680 --> 00:15:01,360 Speaker 1: if I'm wrong, a lot of this is driven by 269 00:15:01,720 --> 00:15:05,480 Speaker 1: concerns about COVID in China. How much further could this go? 270 00:15:07,360 --> 00:15:09,760 Speaker 1: I think fearfully it could go quite quite a good 271 00:15:09,760 --> 00:15:12,360 Speaker 1: deal further to the downside. I've embarrassed with stocks since 272 00:15:12,440 --> 00:15:15,880 Speaker 1: January this year, been very consistent about that fact, and 273 00:15:15,920 --> 00:15:19,320 Speaker 1: actually had the university reduced the size of its portfolio 274 00:15:19,400 --> 00:15:24,040 Speaker 1: by twelve to on December thirty one to last year. Uh. 275 00:15:24,080 --> 00:15:25,960 Speaker 1: For my own account, I got stopped out of a 276 00:15:25,960 --> 00:15:28,560 Speaker 1: lot of long positions on Thursday and Friday of last week. 277 00:15:28,560 --> 00:15:32,280 Speaker 1: I'm happy to be basically as as flat as I've 278 00:15:32,280 --> 00:15:34,520 Speaker 1: been in a long period of time. The set is 279 00:15:34,560 --> 00:15:38,080 Speaker 1: tightening monetary policy long overdue, something that should have been 280 00:15:38,200 --> 00:15:41,720 Speaker 1: started two years ago. They're going to be their assets 281 00:15:42,040 --> 00:15:43,840 Speaker 1: rather consistently over the course of the next two or 282 00:15:43,840 --> 00:15:46,400 Speaker 1: three years, and the overnight said funds rate is going 283 00:15:46,440 --> 00:15:48,400 Speaker 1: to go higher. So I think you got I think 284 00:15:48,400 --> 00:15:50,720 Speaker 1: you have problems here for a period of time ahead, 285 00:15:50,880 --> 00:15:52,880 Speaker 1: and you have to be very very careful. So this 286 00:15:52,960 --> 00:15:56,360 Speaker 1: is I think people are trying to explain the today's 287 00:15:56,400 --> 00:15:59,760 Speaker 1: move predicated upon the COVID. I think it's more to 288 00:16:00,320 --> 00:16:02,360 Speaker 1: attributed to the fact that the Federal Reserve Bank has 289 00:16:02,400 --> 00:16:06,880 Speaker 1: become has has excited QUEI and is beginning quantitative tightening. 290 00:16:07,280 --> 00:16:09,240 Speaker 1: And I think we're going to be in that a 291 00:16:09,280 --> 00:16:11,480 Speaker 1: long period of time, so be very careful. This is 292 00:16:11,520 --> 00:16:14,480 Speaker 1: going down a long way. I'm afraid how far do 293 00:16:14,600 --> 00:16:16,760 Speaker 1: you think it could go? I mean, give me a 294 00:16:16,840 --> 00:16:22,480 Speaker 1: number now, I prefer not giving a number. The best 295 00:16:22,480 --> 00:16:24,440 Speaker 1: the one can do. I've been in the business for 296 00:16:24,480 --> 00:16:27,120 Speaker 1: almost fifty years, and if you get the direction right, 297 00:16:27,160 --> 00:16:29,080 Speaker 1: that's the best you can do. So things are moving 298 00:16:29,120 --> 00:16:31,240 Speaker 1: from the upper left to the lower right. They're going 299 00:16:31,280 --> 00:16:32,880 Speaker 1: to continue to move from the upper left to the 300 00:16:32,880 --> 00:16:35,080 Speaker 1: lower right. Mark this down. They'll continue to do so 301 00:16:35,200 --> 00:16:38,120 Speaker 1: until they stop. So putting a number on it, that's 302 00:16:38,160 --> 00:16:40,320 Speaker 1: that's almost silly. And the best the one can do 303 00:16:40,360 --> 00:16:42,840 Speaker 1: is get the direction correct. So what what bothers me 304 00:16:43,320 --> 00:16:45,600 Speaker 1: is the use of margin has been declining. That's always 305 00:16:45,600 --> 00:16:47,320 Speaker 1: one of the signs of the top in the market, 306 00:16:47,880 --> 00:16:50,920 Speaker 1: the feedtest. That's that's clearly going to be a delictarious 307 00:16:50,960 --> 00:16:53,720 Speaker 1: to share prices. So as I said, be careful, I 308 00:16:53,720 --> 00:16:56,960 Speaker 1: think it goes down another percent from here, at least 309 00:16:57,160 --> 00:17:00,240 Speaker 1: maybe more. Now we have seen FED funds fuge his 310 00:17:00,320 --> 00:17:04,840 Speaker 1: price in multiple fifty basis point hikes in upcoming meetings 311 00:17:04,840 --> 00:17:08,399 Speaker 1: here do you think that continues if we do see 312 00:17:09,040 --> 00:17:14,880 Speaker 1: demand destruction in commodities, If this China COVID situation continues 313 00:17:14,920 --> 00:17:17,520 Speaker 1: to play out like it is at the moment, I 314 00:17:17,520 --> 00:17:20,280 Speaker 1: think the said clearly will will tighten monetary policy by 315 00:17:20,280 --> 00:17:23,240 Speaker 1: at least fifty by by fifty points in the upcoming 316 00:17:23,280 --> 00:17:26,280 Speaker 1: May meeting. I think they're professionally to move fifty and 317 00:17:26,280 --> 00:17:29,840 Speaker 1: fifty and fifty again has probably been reduced, but they're 318 00:17:29,840 --> 00:17:33,119 Speaker 1: clearly they're gonna by fifty basis points at the meeting 319 00:17:33,119 --> 00:17:35,159 Speaker 1: in two weeks and then I think it's up for 320 00:17:35,440 --> 00:17:37,280 Speaker 1: up for grabs. But I think they're going to continue 321 00:17:37,280 --> 00:17:38,760 Speaker 1: to tighten to the course of the year. But will 322 00:17:38,800 --> 00:17:41,680 Speaker 1: they take it basis points higher than where they where 323 00:17:41,720 --> 00:17:44,160 Speaker 1: we are right now by years? And I have my doubts. 324 00:17:44,400 --> 00:17:48,440 Speaker 1: Rich what does that tightness mean for the growth? No 325 00:17:48,560 --> 00:17:51,359 Speaker 1: problem inside? Now what does the tighter FED mean for 326 00:17:51,600 --> 00:17:54,480 Speaker 1: US growth going forward? We've got a lot of discussion 327 00:17:54,480 --> 00:17:56,720 Speaker 1: about whether the US has headed for a recession either 328 00:17:56,760 --> 00:18:00,280 Speaker 1: this year or next. What's your view on that? Two 329 00:18:00,320 --> 00:18:03,400 Speaker 1: things to watch and one I wrote two weeks ago, 330 00:18:03,480 --> 00:18:05,720 Speaker 1: three weeks ago that if the said begins to take 331 00:18:05,760 --> 00:18:07,919 Speaker 1: the overnight or it takes the two year above the 332 00:18:08,000 --> 00:18:09,880 Speaker 1: five year and takes the two year above the ten 333 00:18:10,000 --> 00:18:13,639 Speaker 1: year and then has UH crude oil above a d 334 00:18:13,800 --> 00:18:18,440 Speaker 1: ten dollars a barrel recession is almost probability. I think 335 00:18:18,480 --> 00:18:20,800 Speaker 1: that the former is going to happen. The two years 336 00:18:20,800 --> 00:18:22,520 Speaker 1: going to go to a premium over the five years 337 00:18:22,680 --> 00:18:24,320 Speaker 1: years going to even go to a premium over the 338 00:18:24,359 --> 00:18:28,840 Speaker 1: ten year. But clearly the sort of slowing circumstances globally 339 00:18:28,880 --> 00:18:32,159 Speaker 1: have put downward pressure upon crude oil prices. So instead 340 00:18:32,160 --> 00:18:34,960 Speaker 1: of saying that there's a probability of recession this year, 341 00:18:35,000 --> 00:18:39,480 Speaker 1: I reduced that to thirty better than better than the even. 342 00:18:39,560 --> 00:18:42,440 Speaker 1: But still the odds of a recession have been reduced 343 00:18:42,760 --> 00:18:46,000 Speaker 1: just because crude oil prices have fallen rather precipitously, pay 344 00:18:46,040 --> 00:18:48,400 Speaker 1: attention to what's going on in crude oil. The fact 345 00:18:48,440 --> 00:18:50,320 Speaker 1: that we've gone from a hundred ten dollars a barrel 346 00:18:50,359 --> 00:18:53,240 Speaker 1: to what are we now ninety pausive barrel and the 347 00:18:53,320 --> 00:18:57,400 Speaker 1: term structure is narrowing. That's a that's a material change 348 00:18:57,400 --> 00:18:58,800 Speaker 1: in the course of the past month and a half. 349 00:18:58,840 --> 00:19:03,520 Speaker 1: So I think it it's illustrative of the deletarious circumstances 350 00:19:03,520 --> 00:19:07,640 Speaker 1: prevailing in the in the economy. Be careful, That's that's 351 00:19:07,680 --> 00:19:11,000 Speaker 1: the best thing I can say. Be careful, all right, 352 00:19:11,200 --> 00:19:13,600 Speaker 1: be careful and we'll leave it there. Thank you, Dennis, 353 00:19:13,640 --> 00:19:16,760 Speaker 1: great as always having you with us. Dennis Gartman, Chairman 354 00:19:16,880 --> 00:19:20,639 Speaker 1: of the University of Acronym Dowmint Investment Committee and former 355 00:19:20,680 --> 00:19:24,720 Speaker 1: publisher of the Gartman Letter Red Headline just crossed the 356 00:19:24,760 --> 00:19:28,200 Speaker 1: Bloomberg terminal moments ago. The global route wipes out negative 357 00:19:28,280 --> 00:19:31,840 Speaker 1: yields from the company. Bond market will continue following that 358 00:19:31,920 --> 00:19:35,240 Speaker 1: for you. Right now, SMP futures are down forty seven 359 00:19:35,280 --> 00:19:37,960 Speaker 1: points to drop of one point one percent. Down Future 360 00:19:38,000 --> 00:19:41,000 Speaker 1: is down three forty six. NASTACK futures are lower by 361 00:19:41,000 --> 00:19:43,560 Speaker 1: a hundred thirty nine points. The tenure treasury is up 362 00:19:43,600 --> 00:19:46,400 Speaker 1: twenty one thirty seconds now, the yield two point eight 363 00:19:46,440 --> 00:19:48,840 Speaker 1: one percent and the yield on the two year two 364 00:19:48,840 --> 00:19:54,040 Speaker 1: point six zero percent. Just ahead, Biden's cabinet visits Kiev 365 00:19:54,520 --> 00:19:57,399 Speaker 1: and Twitter gives Elon Musk's takeover off for a second 366 00:19:57,400 --> 00:20:00,840 Speaker 1: look your top stories of the morning. It's away. Stay 367 00:20:00,880 --> 00:20:08,320 Speaker 1: with us. You're listening to Bloomberg Day right Bloomberg eleven 368 00:20:08,400 --> 00:20:10,679 Speaker 1: three oh Weather partly sunny today with highs in the 369 00:20:10,720 --> 00:20:13,040 Speaker 1: low sixties. Will be near sixty five of the chance 370 00:20:13,119 --> 00:20:16,600 Speaker 1: for a few showers Tomorrow, turning partly sunny and cooler Wednesday, 371 00:20:16,640 --> 00:20:19,760 Speaker 1: upper fifties for highs. Right now forty seven in Central 372 00:20:19,760 --> 00:20:26,159 Speaker 1: Park broadcasting live from the Bloomberg Interactive Broker studio in 373 00:20:26,240 --> 00:20:29,280 Speaker 1: New York, Bloomberg e Living Free to Washington, d C. 374 00:20:29,440 --> 00:20:34,160 Speaker 1: Bloomberg to Boston, Bloomberg on a six one to San Francisco, 375 00:20:34,240 --> 00:20:38,160 Speaker 1: Bloomberg sixty to the country, Sirius XM to one, nine ten, 376 00:20:38,320 --> 00:20:41,480 Speaker 1: and around the globe the Bloomberg Business app and Bloomberg 377 00:20:41,560 --> 00:20:50,760 Speaker 1: Radio dot Com. This is Bloomberg Daybreak Pits five thirty 378 00:20:50,760 --> 00:20:53,000 Speaker 1: on Wall Street. Good morning, I'm Nathan Hager and I'm 379 00:20:53,080 --> 00:20:55,920 Speaker 1: Karen Moss Galley or just about four hours away from 380 00:20:55,920 --> 00:20:57,760 Speaker 1: the open of US trading. Let's get you up to 381 00:20:57,840 --> 00:20:59,600 Speaker 1: date on the news you need to know at this hour. 382 00:20:59,680 --> 00:21:02,159 Speaker 1: And we've again in Ukraine, where U S. Secretary of 383 00:21:02,200 --> 00:21:05,760 Speaker 1: State Anthony B. Lincoln and Defense Secretary Lloyd Austin met 384 00:21:05,800 --> 00:21:09,320 Speaker 1: with the President of Vladimier's Lensky. Austin says Moscow has 385 00:21:09,320 --> 00:21:12,480 Speaker 1: already lost a lot of military capability and he wants 386 00:21:12,520 --> 00:21:16,240 Speaker 1: that to continue. You want to see Russia weakened to 387 00:21:16,320 --> 00:21:18,919 Speaker 1: the degree that it can't do the kinds of things 388 00:21:18,920 --> 00:21:23,240 Speaker 1: that it has done in invading Ukraine. U S Secretary 389 00:21:23,280 --> 00:21:26,159 Speaker 1: of Defense Lloyd Austin, along with Secretary of State Anthony Blincoln, 390 00:21:26,200 --> 00:21:28,960 Speaker 1: met with Zelenski and Kiev. The US promised over seven 391 00:21:29,000 --> 00:21:32,920 Speaker 1: hundred million dollars in financial assistance for Ukraine and it's allage. B. 392 00:21:32,960 --> 00:21:36,120 Speaker 1: Lincoln also announced diplomats will soon return to the country. 393 00:21:36,480 --> 00:21:39,480 Speaker 1: Part of our commitment going forward involves a number of 394 00:21:39,480 --> 00:21:41,680 Speaker 1: things that I was able to share with President Zelinski yesterday, 395 00:21:41,880 --> 00:21:45,560 Speaker 1: including the return of American diplomats to Ukraine starting next week. 396 00:21:45,800 --> 00:21:48,600 Speaker 1: Secretaries Austin and B. Lincoln are the highest ranking US 397 00:21:48,640 --> 00:21:52,719 Speaker 1: officials to visit Ukraine since Russia's invasion began. Well meantime, 398 00:21:52,760 --> 00:21:55,919 Speaker 1: in France, Karen Emmanuel macrons securative victory over far right 399 00:21:56,000 --> 00:21:59,919 Speaker 1: leader Marine Leapin in the country's presidential election. Mccron becomes 400 00:21:59,920 --> 00:22:02,560 Speaker 1: the first incumbent to win a second term in France 401 00:22:02,560 --> 00:22:06,520 Speaker 1: in two decades. And China stocks and currencies are slumping 402 00:22:06,640 --> 00:22:09,520 Speaker 1: as a COVID outbreak is stoking fears of a lockdown 403 00:22:09,520 --> 00:22:13,320 Speaker 1: in Beijing. US futures and European shares are also dropping. 404 00:22:13,440 --> 00:22:16,800 Speaker 1: DAL futures are lower down three hundred twelve points and 405 00:22:16,840 --> 00:22:19,720 Speaker 1: the SNP is down. OUR futures are down fort h 406 00:22:19,760 --> 00:22:22,280 Speaker 1: q in early trading. Back here in the US caring 407 00:22:22,359 --> 00:22:26,320 Speaker 1: it is another big week for earnings tech giants Apple, Amazon, Alphabet, 408 00:22:26,359 --> 00:22:30,400 Speaker 1: and Microsoft all report this week, as do many major industrial, healthcare, 409 00:22:30,440 --> 00:22:34,000 Speaker 1: and consumer goods companies. And while big tech reports earnings, 410 00:22:34,000 --> 00:22:36,920 Speaker 1: Twitter is growing more receptive to Elon musk forty three 411 00:22:36,960 --> 00:22:39,680 Speaker 1: billion dollar takeover offer. We get the latest live from 412 00:22:39,680 --> 00:22:42,480 Speaker 1: Bloomberg's Ready to Young, Good Morning, Ready to Good Morning, 413 00:22:42,520 --> 00:22:46,200 Speaker 1: Karen Bloomberg. Sources say Elon Muth met with Twitter executives 414 00:22:46,200 --> 00:22:49,840 Speaker 1: on Sunday to discuss this offer. Twitter's board initially counted 415 00:22:49,880 --> 00:22:52,639 Speaker 1: Musk's proposal with a poison pill, which would make it 416 00:22:52,680 --> 00:22:56,159 Speaker 1: more expensive for any investor, including Musk, to acquire stock 417 00:22:56,200 --> 00:23:00,200 Speaker 1: beyond a fifteen pcent steak. Musk currently owns about nine 418 00:23:00,280 --> 00:23:03,160 Speaker 1: percent of Twitter, but the Wall Street Journal reports Musk 419 00:23:03,280 --> 00:23:06,520 Speaker 1: says he will not adjust his fifty four Twitter since 420 00:23:06,560 --> 00:23:10,119 Speaker 1: this year offered for Twitter that's above Friday's closing price. 421 00:23:10,440 --> 00:23:13,320 Speaker 1: The journal also reports a deal could be finalized as 422 00:23:13,359 --> 00:23:16,439 Speaker 1: soon as this week. Live in New York, I'm rened 423 00:23:16,480 --> 00:23:18,840 Speaker 1: a Young Bloomberg day break, all right, rened to thank 424 00:23:18,880 --> 00:23:21,760 Speaker 1: you and again, SMP futures down at thirty eight points down, 425 00:23:21,760 --> 00:23:24,440 Speaker 1: Futures down two hundred eighty one and nasdack futures down 426 00:23:24,440 --> 00:23:27,720 Speaker 1: one hundred seven ten year Treasury up nineteen thirty seconds 427 00:23:27,960 --> 00:23:31,040 Speaker 1: held two point eight two per cent. Straight to head 428 00:23:31,080 --> 00:23:33,560 Speaker 1: your latest local headlines, plus a check of sports ham 429 00:23:33,560 --> 00:23:41,240 Speaker 1: This is Bloombergs on Wall Street seven degrees in Central Park. 430 00:23:41,280 --> 00:23:43,040 Speaker 1: Michael Barr has more on what's going on in New 431 00:23:43,080 --> 00:23:45,560 Speaker 1: York and around the world. Michael, thank you very much. Nathan, 432 00:23:45,760 --> 00:23:48,679 Speaker 1: a New York City firefighter, was killed and others injured 433 00:23:48,720 --> 00:23:51,639 Speaker 1: after a house fire in Brooklyn. More than a hundred 434 00:23:51,640 --> 00:23:54,680 Speaker 1: firefighters were at the scene of the three alarmed blaze. 435 00:23:55,200 --> 00:23:57,800 Speaker 1: Mayor Eric Adams says thirty one year old Timothy Kline 436 00:23:58,000 --> 00:24:01,800 Speaker 1: was one of four firefighters caught in a partial ceiling collapse. 437 00:24:02,240 --> 00:24:09,119 Speaker 1: It gives us great pain is sorrow to announce that 438 00:24:09,440 --> 00:24:13,399 Speaker 1: New York City has lost one of the bravest Manyor 439 00:24:13,480 --> 00:24:17,160 Speaker 1: Adams also says a civilian apparently died in the blaze. 440 00:24:17,560 --> 00:24:20,280 Speaker 1: The Supreme Court is taking on a dispute between public 441 00:24:20,280 --> 00:24:23,560 Speaker 1: school officials and a former high school football coach who 442 00:24:23,600 --> 00:24:27,040 Speaker 1: wanted to kneel and prey on the field after games. 443 00:24:27,359 --> 00:24:30,960 Speaker 1: The case before the Justices involves Joseph Kennedy. He is 444 00:24:31,000 --> 00:24:34,480 Speaker 1: a former football coach at Bremerton High School in Bremerton, Washington. 445 00:24:34,920 --> 00:24:38,160 Speaker 1: The school district asked him to stop the prayers. Kennedy's 446 00:24:38,240 --> 00:24:41,600 Speaker 1: lawyers say the Constitution's freedom of speech and freedom of 447 00:24:41,640 --> 00:24:45,199 Speaker 1: religion guarantees that he is allowed to pray on the field. 448 00:24:45,560 --> 00:24:48,439 Speaker 1: The Biden administration is appealing a federal judge's ruling to 449 00:24:48,560 --> 00:24:52,400 Speaker 1: end the mask mandate for passengers on planes, trains, and buses. 450 00:24:52,800 --> 00:24:57,240 Speaker 1: The termination of those c DC travel restrictions come as 451 00:24:57,320 --> 00:25:00,280 Speaker 1: COVID cases are rising in places like New York City. 452 00:25:00,440 --> 00:25:03,200 Speaker 1: The new Commissioner of Health in New York City, Dr. 453 00:25:03,280 --> 00:25:06,919 Speaker 1: Ashwyn Vassan says he is disappointed. Number One, from a 454 00:25:06,960 --> 00:25:11,879 Speaker 1: public health standpoint, wearing masks in indoor settings is is safe. 455 00:25:12,000 --> 00:25:16,200 Speaker 1: It's a safety issue UM and planes, trains and automobiles 456 00:25:16,240 --> 00:25:21,639 Speaker 1: and public transport is are really important higher risk locations 457 00:25:21,680 --> 00:25:25,840 Speaker 1: because of the duration of exposure. Dr Vassan also says 458 00:25:26,000 --> 00:25:30,080 Speaker 1: it really undermines trust when some city teachers got fake 459 00:25:30,160 --> 00:25:34,359 Speaker 1: vaccination cards. The Axiom one spacecraft undocked from the International 460 00:25:34,400 --> 00:25:37,880 Speaker 1: Space Station and we'll return to Earth. Axiom one brought 461 00:25:37,960 --> 00:25:41,280 Speaker 1: the first all private crew to the orbiting lamp. Global 462 00:25:41,280 --> 00:25:43,800 Speaker 1: News twenty four hours a Day on air and on 463 00:25:43,880 --> 00:25:47,200 Speaker 1: Bloomberg Quick Take powered by more than twenty seven under 464 00:25:47,200 --> 00:25:49,720 Speaker 1: a journalist and analysts are more than a hundred twenty countries. 465 00:25:49,920 --> 00:25:52,639 Speaker 1: I'm Michael Barr and this is Bloomberg Nathan. Thank you. 466 00:25:52,680 --> 00:26:00,399 Speaker 1: Michael on wall Street on Stashire has the Bloomber Sports 467 00:26:00,440 --> 00:26:03,720 Speaker 1: Update ks Nathan. The strong start to the Mets season continues. 468 00:26:03,760 --> 00:26:06,480 Speaker 1: They won six two in Arizona's Tyler McGill improved the 469 00:26:06,560 --> 00:26:08,560 Speaker 1: three and home run for J. D. Davis. The Mets 470 00:26:08,560 --> 00:26:11,280 Speaker 1: have now played five series. They have lost once and 471 00:26:11,400 --> 00:26:14,400 Speaker 1: only once in each series. They'f a little better team now. 472 00:26:14,400 --> 00:26:17,080 Speaker 1: The Cardinals are in perching n L Central Matchers or St. 473 00:26:17,080 --> 00:26:19,320 Speaker 1: Louis Native on the bound for the Mets. Tonight, Yankees 474 00:26:19,359 --> 00:26:22,480 Speaker 1: first sweep for the season ended with their most lopsided win, 475 00:26:22,680 --> 00:26:25,240 Speaker 1: ten to two over the Guardians at the Stadium. Yanks 476 00:26:25,280 --> 00:26:27,560 Speaker 1: rub six and nothing by the third inning home runs 477 00:26:27,560 --> 00:26:29,840 Speaker 1: for Anthony Rizzo, d J. Le Mayhew and the seldom 478 00:26:29,920 --> 00:26:32,840 Speaker 1: us Tim Locasto. Garrett Cole able to get his first win, 479 00:26:33,200 --> 00:26:35,240 Speaker 1: able to lower his lower his e R. A down 480 00:26:35,280 --> 00:26:38,160 Speaker 1: of four Nankings are off tonight at Barkley. Tonight, Nets 481 00:26:38,200 --> 00:26:41,320 Speaker 1: face elimination. Celtics go for the series sweep. Let's go. 482 00:26:41,480 --> 00:26:44,400 Speaker 1: Steve Nash after the Game three loss, asked if Kevin 483 00:26:44,480 --> 00:26:48,280 Speaker 1: Durant's quiet series is the biggest problem. I think it's 484 00:26:48,320 --> 00:26:50,720 Speaker 1: the unforced tournaments. I don't think Kevin has to go off. 485 00:26:50,800 --> 00:26:55,840 Speaker 1: You know, we we we shot a good percentage. We 486 00:26:56,960 --> 00:27:02,600 Speaker 1: just up, you know, court decision making, connecting simple passes, 487 00:27:02,680 --> 00:27:05,080 Speaker 1: and they're going the other way. That's to me is 488 00:27:05,720 --> 00:27:07,399 Speaker 1: in the difference of all three games, and that's of 489 00:27:07,440 --> 00:27:10,040 Speaker 1: course made the big train of Philadelphia shipped out James Harden. 490 00:27:10,040 --> 00:27:12,320 Speaker 1: The key player they got in return was Ben Simmons. 491 00:27:12,359 --> 00:27:14,360 Speaker 1: Simmons didn't play at all for the Sixers this year 492 00:27:14,400 --> 00:27:16,439 Speaker 1: to to some mental issues, and then he heard his 493 00:27:16,560 --> 00:27:18,520 Speaker 1: back while getting ready to play for the Nets. He 494 00:27:18,600 --> 00:27:21,000 Speaker 1: was said to be set to make his Nets debut 495 00:27:21,080 --> 00:27:23,640 Speaker 1: tonight would have been his first game in nearly a year, 496 00:27:23,680 --> 00:27:26,200 Speaker 1: but Simmons woke up with his back still sore. He's 497 00:27:26,240 --> 00:27:29,280 Speaker 1: not going to play Milwaukee and Miami. With wins at 498 00:27:29,320 --> 00:27:31,600 Speaker 1: Chicago and Atlanta, the Bucks and he'd have three one 499 00:27:31,640 --> 00:27:34,639 Speaker 1: serious leads Denver one still Traill's Golden State three one. 500 00:27:34,720 --> 00:27:37,680 Speaker 1: New Orleans beat Phoenix that series, Side of Town statue, 501 00:27:37,960 --> 00:27:40,840 Speaker 1: Bloomberg Sports and thank you John thirty seven on Wall 502 00:27:40,880 --> 00:27:43,520 Speaker 1: Street Time for the tri State Business Report with Bloomberg's 503 00:27:43,560 --> 00:27:46,680 Speaker 1: head Cory. New York City is urging Amazon shareholders to 504 00:27:46,800 --> 00:27:49,000 Speaker 1: vote against the re election of two of the online 505 00:27:49,040 --> 00:27:53,920 Speaker 1: retailers board members responsible for human capital management. The city 506 00:27:54,040 --> 00:27:56,760 Speaker 1: and others say that they opposed the reelection of Dan 507 00:27:57,000 --> 00:28:01,040 Speaker 1: Hutton Locker and Judith McGrath, saying they failed to provide 508 00:28:01,040 --> 00:28:05,719 Speaker 1: adequate independent oversight over workforce issues. Union mental health workers 509 00:28:05,760 --> 00:28:09,240 Speaker 1: employed by Sound Community Services went on strike Sunday. They 510 00:28:09,320 --> 00:28:13,280 Speaker 1: won better conditions and a mental healthcare nonprofit in New London, Connecticut. 511 00:28:13,400 --> 00:28:16,480 Speaker 1: The union says state leaders of outsourced public mental health 512 00:28:16,520 --> 00:28:20,200 Speaker 1: work to nonprofits in order to cut costs. Cattalent has 513 00:28:20,240 --> 00:28:24,680 Speaker 1: agreed to buy Irritech self therapy manufacturing facility in Princeton 514 00:28:24,880 --> 00:28:28,000 Speaker 1: for forty four point five million dollars. Irritech has a 515 00:28:28,040 --> 00:28:31,520 Speaker 1: Phase one trial and first line pancreatic cancer ongoing in 516 00:28:31,600 --> 00:28:34,360 Speaker 1: the US and is talking with the FDA about other 517 00:28:34,480 --> 00:28:38,640 Speaker 1: developments that you Bloomberg tried, State Business Report, my D Corey, 518 00:28:38,800 --> 00:28:41,719 Speaker 1: Thanks on Wall Street, Bloomberg Radios on the air, from 519 00:28:41,760 --> 00:28:44,480 Speaker 1: San Francisco to New York, London to Hong Kong. Let's 520 00:28:44,560 --> 00:28:46,360 Speaker 1: check in with our global news team for some of 521 00:28:46,400 --> 00:28:49,000 Speaker 1: the top stories heard on our three hundred affiliate radio 522 00:28:49,080 --> 00:28:54,960 Speaker 1: stations around the world. Steve Potaskan on ten ten Wins 523 00:28:55,040 --> 00:28:58,080 Speaker 1: in New York, We're talking about top business economists saying 524 00:28:58,120 --> 00:29:00,440 Speaker 1: that companies are paying more in wage is that for 525 00:29:00,600 --> 00:29:05,080 Speaker 1: raw materials but passing those costs along to consumer um 526 00:29:05,160 --> 00:29:07,840 Speaker 1: Corney's on a holl On Carol d and Dallas, Locky 527 00:29:07,960 --> 00:29:10,520 Speaker 1: Barton and the Union at its F thirty five factory 528 00:29:10,640 --> 00:29:14,360 Speaker 1: reach a new contract. John Tucker for w BBM in Chicago. 529 00:29:14,720 --> 00:29:18,400 Speaker 1: I'm reporting US airlines are facing a pilot shortage. I'm 530 00:29:18,480 --> 00:29:21,040 Speaker 1: killing hit called Bloomberg, DAB Digital Media and Onto. We're 531 00:29:21,040 --> 00:29:23,560 Speaker 1: reporting on how one intent companies in the UK have 532 00:29:23,640 --> 00:29:26,800 Speaker 1: been failing to provide reporting on modern slavery, a legal 533 00:29:26,840 --> 00:29:30,920 Speaker 1: requirement that regulator says ferns must do more. Id Cory 534 00:29:31,320 --> 00:29:34,840 Speaker 1: w w J and Detroit. I'm reporting BMW has promised 535 00:29:34,920 --> 00:29:39,080 Speaker 1: to continue producing internal combustion engine and those are some 536 00:29:39,200 --> 00:29:42,280 Speaker 1: of the stories are undred Bloomberg journalists and analysts are 537 00:29:42,280 --> 00:29:44,720 Speaker 1: working on this morning around the world. It's five thirty 538 00:29:44,800 --> 00:29:47,920 Speaker 1: nine on Wall Street. The following is an editorial from 539 00:29:48,040 --> 00:29:52,960 Speaker 1: Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. 540 00:29:53,400 --> 00:29:57,280 Speaker 1: The bailouts of the past few decades, necessary as they were, 541 00:29:57,640 --> 00:30:02,320 Speaker 1: have created a growing expectation whenever there's distress in markets, 542 00:30:02,560 --> 00:30:06,320 Speaker 1: central banks must step in. Now some are suggesting they 543 00:30:06,440 --> 00:30:11,840 Speaker 1: backstop commodity markets too. It's a bad idea. Commodity traders 544 00:30:11,920 --> 00:30:14,280 Speaker 1: play a crucial role in the global economy, but their 545 00:30:14,320 --> 00:30:18,680 Speaker 1: process is heavily dependent on borrowed money. Now some fear 546 00:30:18,760 --> 00:30:22,360 Speaker 1: that a financing crunch could disrupt the flow of materials 547 00:30:22,480 --> 00:30:26,160 Speaker 1: to end users, such as power plants. Still, a bailout 548 00:30:26,280 --> 00:30:30,520 Speaker 1: would be hard to justify. The world's trading firms remain profitable, 549 00:30:30,840 --> 00:30:34,840 Speaker 1: and their current financing challenges are largely their own doing. 550 00:30:35,360 --> 00:30:38,640 Speaker 1: It's possible to imagine a scenario in which central banks 551 00:30:38,880 --> 00:30:41,920 Speaker 1: have no choice but to intervene. For example, if a 552 00:30:42,000 --> 00:30:46,960 Speaker 1: complete cutoff of Russian energy exports sent commodity prices skyrocketing. 553 00:30:47,400 --> 00:30:52,120 Speaker 1: That time, fortunately has not come. This editorial was written 554 00:30:52,160 --> 00:30:55,760 Speaker 1: by the Bloomberg Editorial Board. For more Bloomberg Opinion, please 555 00:30:55,800 --> 00:30:59,200 Speaker 1: go to Bloomberg Dot com slash opinion or opie I 556 00:30:59,480 --> 00:31:03,480 Speaker 1: end go on the Bloomberg terminal. This has been Bloomberg opinion, 557 00:31:03,680 --> 00:31:06,360 Speaker 1: and you can hear Bloomberg opinion commentaries every weekday At 558 00:31:06,400 --> 00:31:09,000 Speaker 1: this time. Terminal customers can read more at O P 559 00:31:09,240 --> 00:31:12,480 Speaker 1: I N goal SMP futures down thirty eight points, Stowle 560 00:31:12,480 --> 00:31:16,040 Speaker 1: futures down two eight NASTC futures lower by one hundred 561 00:31:16,160 --> 00:31:23,760 Speaker 1: eight points. This is Bloomberg Bloomberg eleven three oh weather 562 00:31:23,800 --> 00:31:25,840 Speaker 1: partly sunny today with highs in the low sixties, A 563 00:31:25,880 --> 00:31:29,400 Speaker 1: few showers possible tomorrow behind Your sixty five will be 564 00:31:29,440 --> 00:31:32,280 Speaker 1: in the upper fifties, turning partly sunny by Wednesday. Right 565 00:31:32,320 --> 00:31:39,360 Speaker 1: now seven in Central Park markets, headlines and breaking news 566 00:31:39,520 --> 00:31:42,120 Speaker 1: twenty four hours a day at Bloomberg dot com, the 567 00:31:42,160 --> 00:31:45,680 Speaker 1: Bloomberg Business at and at Bloomberg Tricktape. This is a 568 00:31:45,720 --> 00:31:55,440 Speaker 1: Bloomberg Business flash and I'm Karin. Moscow stops and commodities 569 00:31:55,480 --> 00:31:59,239 Speaker 1: tumbling as China's worsening COVID outbreak compounds fear sparked by 570 00:31:59,360 --> 00:32:02,800 Speaker 1: faster to reserve tightening bonds are rising. You check the 571 00:32:02,840 --> 00:32:05,720 Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg 572 00:32:05,760 --> 00:32:07,920 Speaker 1: guess and p Future is down thirty one points and 573 00:32:07,960 --> 00:32:10,400 Speaker 1: down Future is down two d forty two and as 574 00:32:10,480 --> 00:32:13,560 Speaker 1: deck futures down seventy five. The decks in Germany has 575 00:32:13,600 --> 00:32:15,920 Speaker 1: done one point four percent. The ten year treasury of 576 00:32:16,040 --> 00:32:19,120 Speaker 1: eighteen thirty seconds held two point eight two percent yield 577 00:32:19,160 --> 00:32:22,120 Speaker 1: on the two year two point six zero percent. Nimex 578 00:32:22,160 --> 00:32:24,600 Speaker 1: screwed oil is down four point three percent on four 579 00:32:24,640 --> 00:32:27,040 Speaker 1: dollars forty two cents at ninety seven dollars sixty eight 580 00:32:27,120 --> 00:32:29,840 Speaker 1: cents of barrel. Comex's gold is down nine ten percent 581 00:32:29,960 --> 00:32:33,160 Speaker 1: or sixteen dollars eighty cents at nineteen seventeen fifty announced 582 00:32:33,520 --> 00:32:36,080 Speaker 1: the euro one point oh seven four two against the dollar, 583 00:32:36,160 --> 00:32:38,720 Speaker 1: British found one point to seven three eight and again 584 00:32:38,760 --> 00:32:41,640 Speaker 1: at one twenty eight point one seven. Bitcoin this morning 585 00:32:41,720 --> 00:32:44,920 Speaker 1: lower down two point four percent at thirty eight thousand, 586 00:32:45,000 --> 00:32:48,000 Speaker 1: five hundred eighty dollars. That's a Bloomberg business flash. Now 587 00:32:48,080 --> 00:32:50,480 Speaker 1: here's Michael Barr with more on what's going on around 588 00:32:50,520 --> 00:32:53,240 Speaker 1: the world. Michael, thank you very much, Cameron. After a 589 00:32:53,400 --> 00:32:58,560 Speaker 1: secrecy shrouded visit to Kiev, US Secretary of State Anthony 590 00:32:58,640 --> 00:33:02,680 Speaker 1: Lincoln said Rush is failing in its war and Aimes 591 00:33:03,120 --> 00:33:06,560 Speaker 1: Ukraine is succeeding. The trip by b Lincoln and Defense 592 00:33:06,600 --> 00:33:09,960 Speaker 1: Secretary Lloyd Austin was the highest level American visit to 593 00:33:10,040 --> 00:33:14,160 Speaker 1: the Capitol since Russia invaded. In late February, crews are 594 00:33:14,240 --> 00:33:18,120 Speaker 1: fighting a fast moving wildfire in New Mexico. Firefighters in 595 00:33:18,240 --> 00:33:21,920 Speaker 1: Colfax County near Las Vegas are battling the Cook's Peak fire. 596 00:33:22,400 --> 00:33:25,880 Speaker 1: The flames have expanded to more than forty eight thousand acres. 597 00:33:26,400 --> 00:33:29,160 Speaker 1: In MLB, the Yankees and Mets one. The Red Sox 598 00:33:29,240 --> 00:33:32,040 Speaker 1: in Orioles lost. The Giants beat the Nationals twelve three, 599 00:33:32,440 --> 00:33:35,560 Speaker 1: the A's one. In the NBA Playoffs, it is do 600 00:33:35,920 --> 00:33:38,800 Speaker 1: or die tonight for the Nets. They have to beat 601 00:33:38,800 --> 00:33:41,080 Speaker 1: the Celtics and game four of their series to avoid 602 00:33:41,160 --> 00:33:44,360 Speaker 1: being eliminated. The Warriors lost to the Duggets. Golden State 603 00:33:44,440 --> 00:33:46,880 Speaker 1: still has the three games to one lead in that series. 604 00:33:47,120 --> 00:33:49,800 Speaker 1: Global News twenty four hours a day on air and 605 00:33:50,080 --> 00:33:53,640 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven under 606 00:33:53,720 --> 00:33:57,120 Speaker 1: journalists analysts more than a hundred twenty countries. Michael Barr 607 00:33:57,160 --> 00:34:00,200 Speaker 1: and this is Bloomberg, Nathan. Thanks Michael. It's five for none. 608 00:34:00,200 --> 00:34:03,000 Speaker 1: On Wall Street life from the Bloomberg Interactive Broker Studios. 609 00:34:03,120 --> 00:34:07,000 Speaker 1: This is Bloomberg Daybreak with a focus on politics overseas 610 00:34:07,240 --> 00:34:10,920 Speaker 1: this morning, because French President Emmanuel mccron is heading for 611 00:34:11,000 --> 00:34:14,759 Speaker 1: a second term after defeating nationalist leader Marine Lapin in 612 00:34:15,000 --> 00:34:18,600 Speaker 1: yesterday's runoff. Now mccron gets another five years to convince 613 00:34:18,680 --> 00:34:22,200 Speaker 1: French voters his pro business, pro Europe vision will work 614 00:34:22,480 --> 00:34:25,560 Speaker 1: for them. Let's get more Now joining us live from Paris, 615 00:34:25,640 --> 00:34:28,640 Speaker 1: Bloomberg's Caroline Kna Carolyn, good to have you with us 616 00:34:28,840 --> 00:34:31,960 Speaker 1: this morning. I look at the results, mccron beat Lapin 617 00:34:32,080 --> 00:34:35,560 Speaker 1: by a seventeen point margin. To this American's eyes, that 618 00:34:35,640 --> 00:34:37,600 Speaker 1: looks like a landslide. But we got kind of a 619 00:34:37,719 --> 00:34:41,800 Speaker 1: somber victory speech from mccron last night. What's the takeaway? 620 00:34:42,680 --> 00:34:45,440 Speaker 1: There was a huge relief on the Gendre mouse at 621 00:34:45,480 --> 00:34:48,320 Speaker 1: the feet of the Ifel Tower last night, where emmanuelma 622 00:34:48,400 --> 00:34:54,239 Speaker 1: considerbrated his victory for the second mondate for a number 623 00:34:54,360 --> 00:34:57,280 Speaker 1: five years. But clearly it was not the same landslide 624 00:34:57,360 --> 00:35:00,040 Speaker 1: victory that we had back in twenty seventeen, a the 625 00:35:00,160 --> 00:35:03,080 Speaker 1: time he had one with sixty six percent of the 626 00:35:03,200 --> 00:35:07,160 Speaker 1: votes against that same national rally leader mar In Lepan. 627 00:35:07,320 --> 00:35:10,440 Speaker 1: Last night he only won with fifty eight percent of 628 00:35:10,600 --> 00:35:14,200 Speaker 1: the vote, so clearly the margin was not as wide, 629 00:35:14,400 --> 00:35:17,520 Speaker 1: meaning that there is a large proportion of the French 630 00:35:17,800 --> 00:35:21,479 Speaker 1: who felt left behind, who felt like he hasn't really 631 00:35:22,080 --> 00:35:25,680 Speaker 1: dealt with their daily issues when it comes, for example, 632 00:35:25,760 --> 00:35:29,680 Speaker 1: to energy inflation, the issue of the cost of living, 633 00:35:30,120 --> 00:35:33,800 Speaker 1: or even their concerns about immigration or Europe. So clearly 634 00:35:33,880 --> 00:35:36,840 Speaker 1: this is something that Emriel mcin will have to address 635 00:35:37,000 --> 00:35:39,879 Speaker 1: in his next month date. And there is a sense 636 00:35:39,920 --> 00:35:43,560 Speaker 1: of responsibility here because last night he said, I will 637 00:35:44,120 --> 00:35:48,600 Speaker 1: address all the French, including those who voted for me 638 00:35:48,840 --> 00:35:51,960 Speaker 1: only to block mary In Lepan, and including those who 639 00:35:52,080 --> 00:35:55,480 Speaker 1: are voted for the extreme. I am accountable for what happened, 640 00:35:55,800 --> 00:35:59,200 Speaker 1: because he knows that he will be held accountable if 641 00:35:59,360 --> 00:36:03,319 Speaker 1: an anti establishment, far left or far right candidates gets 642 00:36:03,360 --> 00:36:07,480 Speaker 1: to parent next time. And it sounds, Carolina as though 643 00:36:07,560 --> 00:36:09,800 Speaker 1: that sort of sets up where the next round of 644 00:36:09,880 --> 00:36:11,800 Speaker 1: voting is going to happen in just a couple of 645 00:36:11,880 --> 00:36:15,840 Speaker 1: months here with parliamentary elections. How is now President McCraw 646 00:36:16,280 --> 00:36:20,560 Speaker 1: setting the stakes for the parliamentary vote that's coming up 647 00:36:20,760 --> 00:36:23,920 Speaker 1: just in a few weeks here, This is what everybody 648 00:36:24,000 --> 00:36:28,040 Speaker 1: calls the third round of these presidential elections, meaning the 649 00:36:28,120 --> 00:36:32,719 Speaker 1: parliamentary elections happening mid June in France, because even though 650 00:36:33,160 --> 00:36:36,920 Speaker 1: mccon got a clear majority last time around five years ago, 651 00:36:37,080 --> 00:36:40,200 Speaker 1: it may be more difficult this time. Is a party 652 00:36:40,320 --> 00:36:44,920 Speaker 1: Republic on the Move has performed poorly in previous local 653 00:36:45,480 --> 00:36:48,279 Speaker 1: cities and regional elections over the past couple of years, 654 00:36:48,800 --> 00:36:52,640 Speaker 1: and clearly those who voted against him in this presidential 655 00:36:52,719 --> 00:36:56,799 Speaker 1: election from the far right of the far left will 656 00:36:56,920 --> 00:37:00,320 Speaker 1: clearly try and get a majority in order to prevent 657 00:37:00,400 --> 00:37:04,600 Speaker 1: Emmanuel mccon from really doing the policies he wants to 658 00:37:04,680 --> 00:37:07,759 Speaker 1: implement over these next five years. For example, Jean Luc 659 00:37:07,840 --> 00:37:12,239 Speaker 1: Milan Chean, this Hall Left candidate who came third in 660 00:37:12,360 --> 00:37:15,320 Speaker 1: the first round with about twenty two percent of the 661 00:37:15,400 --> 00:37:19,400 Speaker 1: French votes, actually said last night the third run starts tonight. 662 00:37:19,840 --> 00:37:23,399 Speaker 1: He called the French to vote for him in order 663 00:37:23,480 --> 00:37:26,880 Speaker 1: to get a majority in parliament, because if that happens, 664 00:37:27,000 --> 00:37:30,200 Speaker 1: that means Emmanuel McCain will be forced to choose a 665 00:37:30,360 --> 00:37:34,239 Speaker 1: prime minister which is different from his party, and that 666 00:37:34,320 --> 00:37:37,160 Speaker 1: will actually make it very difficult for him to really govern. 667 00:37:37,800 --> 00:37:41,280 Speaker 1: So the politics continue in France. Thanks for this caroling. 668 00:37:41,360 --> 00:37:45,040 Speaker 1: Good having you on with us. Carolyn ConA Bloomberg Paris correspondent, 669 00:37:45,480 --> 00:37:48,920 Speaker 1: joining us from Paris this morning, Claren, Hey, Nathan, thank you. 670 00:37:49,160 --> 00:37:52,000 Speaker 1: It is five at sifty three on One Street. Times 671 00:37:52,040 --> 00:37:54,520 Speaker 1: to the Bloomberg Law Report, brought to you by American 672 00:37:54,600 --> 00:37:58,800 Speaker 1: Arbitration Association. Business Disputes or Inevitable overs fans with the 673 00:37:58,840 --> 00:38:02,880 Speaker 1: American Arbitrary Ration Association, the global leader in alternative dispute 674 00:38:02,920 --> 00:38:06,840 Speaker 1: resolution for over ninety years. More at a dr dot org. Now, 675 00:38:06,920 --> 00:38:09,160 Speaker 1: let's get to the legal stories we're watching this morning. 676 00:38:09,200 --> 00:38:15,880 Speaker 1: From Bloomberg's Jeff Bellinger. A federal appeals court in New 677 00:38:16,040 --> 00:38:19,319 Speaker 1: Orleans upheld President Biden's firing of the top lawyer at 678 00:38:19,360 --> 00:38:23,480 Speaker 1: the National Labor Relations Board. Many tobacco free nicotine products 679 00:38:23,560 --> 00:38:27,040 Speaker 1: could linger in stores beyond the summer deadline. The Food 680 00:38:27,120 --> 00:38:30,840 Speaker 1: and Drug Administration was given the power to regulate the products, 681 00:38:30,920 --> 00:38:33,160 Speaker 1: and it still has to come up with policies. A 682 00:38:33,239 --> 00:38:36,400 Speaker 1: federal court challenge was filed after Florida Governor Rohn de 683 00:38:36,560 --> 00:38:40,080 Speaker 1: Santis moved to block what he calls corporate wokeness, in 684 00:38:40,200 --> 00:38:43,239 Speaker 1: which workers are taught they should feel guilty over their 685 00:38:43,360 --> 00:38:47,480 Speaker 1: race or gender. Bloomberg Law everything you need, all on 686 00:38:47,680 --> 00:38:53,160 Speaker 1: one legal research platform, including guidance analysis and Bloomberg market intelligence. 687 00:38:53,400 --> 00:38:57,040 Speaker 1: Find out more at Bloomberg Law dot com. All right, Jeff, 688 00:38:57,080 --> 00:38:59,959 Speaker 1: thank you, and another legal story we're watching. Many people 689 00:39:00,120 --> 00:39:02,800 Speaker 1: can recite the Miranda warnings thanks to TV shows like 690 00:39:02,920 --> 00:39:06,160 Speaker 1: Law and Order. Now the landmark Miranda decision is before 691 00:39:06,200 --> 00:39:09,240 Speaker 1: the Supreme Court again. It's clear that Miranda bars coerced 692 00:39:09,280 --> 00:39:12,600 Speaker 1: confessions from being used in court. But what's not clear 693 00:39:12,800 --> 00:39:15,040 Speaker 1: is whether a police officer who fails to give Miranda 694 00:39:15,120 --> 00:39:19,279 Speaker 1: warnings can be sued civilly for violating a suspect's constitutional rights. 695 00:39:19,719 --> 00:39:22,440 Speaker 1: The justices will answer that question and for more. Bloomberg 696 00:39:22,480 --> 00:39:26,400 Speaker 1: student Grosso speaks to Bloomberg Law reporter Jordan. Reuben Jordan 697 00:39:26,480 --> 00:39:30,680 Speaker 1: explained the central question here. So the question here is 698 00:39:30,719 --> 00:39:34,600 Speaker 1: whether the failure to give Miranda warnings can give rise 699 00:39:34,840 --> 00:39:38,320 Speaker 1: to a federal civil rights lawsuit. Now, for such a 700 00:39:38,400 --> 00:39:40,960 Speaker 1: lawsuit to go forward, there needs to have been a 701 00:39:41,040 --> 00:39:44,480 Speaker 1: violation of a constitutional right, and so that's what raises 702 00:39:44,520 --> 00:39:48,279 Speaker 1: the question is whether this Miranda right is a constitutional 703 00:39:48,440 --> 00:39:51,880 Speaker 1: right or something else. And that's been a long simmering 704 00:39:52,000 --> 00:39:55,720 Speaker 1: question and that was the focus of this argument. Miranda 705 00:39:55,840 --> 00:39:58,120 Speaker 1: was subject to a lot of criticism in the eighties 706 00:39:58,160 --> 00:40:02,719 Speaker 1: and nineties, and a decision Chief Justice ran Quist put 707 00:40:02,840 --> 00:40:05,400 Speaker 1: that to rest, right, So that was really interesting that 708 00:40:05,520 --> 00:40:09,080 Speaker 1: Dickerson case in two thousand. As you mentioned, ran Quists 709 00:40:09,200 --> 00:40:13,000 Speaker 1: and other conservatives had long been critical of not just Miranda, 710 00:40:13,120 --> 00:40:14,600 Speaker 1: but it was really a part of a series of 711 00:40:14,680 --> 00:40:18,480 Speaker 1: these Warren Court era criminal procedure decisions, part of this 712 00:40:18,560 --> 00:40:22,560 Speaker 1: so called criminal procedure revolution, and so these really became 713 00:40:22,760 --> 00:40:26,359 Speaker 1: the opinions that were not liked on the conservative side. 714 00:40:26,400 --> 00:40:29,840 Speaker 1: But in a two thousand case, Dickerson rank was actually 715 00:40:29,920 --> 00:40:34,520 Speaker 1: wrote an opinion, a seven to opinion effectively upholding Miranda, 716 00:40:34,560 --> 00:40:36,840 Speaker 1: when he obviously could have disagreed with it. And so 717 00:40:37,480 --> 00:40:41,640 Speaker 1: really the question in this case now is what exactly 718 00:40:42,000 --> 00:40:45,320 Speaker 1: did Dickerson mean? And some subsequent cases as well, And 719 00:40:45,360 --> 00:40:49,000 Speaker 1: so it's not just the fact that Ranquist didn't overturn Miranda, 720 00:40:49,200 --> 00:40:51,839 Speaker 1: but what exactly was he doing there? And so that's 721 00:40:51,880 --> 00:40:53,719 Speaker 1: really where a lot of this case is going to 722 00:40:54,040 --> 00:40:58,200 Speaker 1: be decided and how did the justices interpret ran quist decision. 723 00:40:58,920 --> 00:41:01,359 Speaker 1: It was pointed out by some of the more conservative 724 00:41:01,480 --> 00:41:05,440 Speaker 1: justices that Rernquist was careful with his words and didn't 725 00:41:05,560 --> 00:41:09,520 Speaker 1: exactly refer to miranda as a constitutional right. He referred 726 00:41:09,520 --> 00:41:14,360 Speaker 1: to it having constitutional underpinning, sort of a constitutional essence 727 00:41:14,520 --> 00:41:17,960 Speaker 1: to it, if you will, but specifically not saying constitutional right. 728 00:41:18,160 --> 00:41:21,279 Speaker 1: And that distinction could wind up being very important in 729 00:41:21,360 --> 00:41:24,480 Speaker 1: this case, because remember, the question is is miranda a 730 00:41:24,560 --> 00:41:27,480 Speaker 1: constitutional right that can give rise to such a federal 731 00:41:27,560 --> 00:41:31,080 Speaker 1: civil rights suit like the one that Mr Tico is 732 00:41:31,320 --> 00:41:34,960 Speaker 1: trying to bring here. And the Chief who clerk for 733 00:41:35,080 --> 00:41:38,200 Speaker 1: Renquist was one of those justices saying that he was 734 00:41:38,360 --> 00:41:41,319 Speaker 1: very careful with his language. Did you get a feel 735 00:41:41,360 --> 00:41:44,640 Speaker 1: for how many of the justices might decide that miranda 736 00:41:44,880 --> 00:41:47,960 Speaker 1: does not provide a constitutional right? So I think that 737 00:41:48,160 --> 00:41:50,680 Speaker 1: it was fair to say that some comments from Avanaugh 738 00:41:50,880 --> 00:41:54,920 Speaker 1: and Barrett were also along the lines of the Chief Justice, 739 00:41:55,880 --> 00:41:59,840 Speaker 1: and as Bloomberg Law reporter Jordan Jordan Rubens because Bloomberg's 740 00:41:59,840 --> 00:42:02,560 Speaker 1: do Grosso catch more of that interview plus analysis of 741 00:42:02,600 --> 00:42:05,200 Speaker 1: the latest legal news by subscribing to the Bloomberg Law 742 00:42:05,320 --> 00:42:09,280 Speaker 1: Podcast or downloading this show at Bloomberg dot com slash podcast. 743 00:42:09,560 --> 00:42:12,759 Speaker 1: Attorneys can find exceptional legal research and business development tools 744 00:42:12,800 --> 00:42:15,400 Speaker 1: at Bloomberg law dot com and on the Bloomberg terminal 745 00:42:15,800 --> 00:42:18,959 Speaker 1: at b law go and again futures are moving lower 746 00:42:19,120 --> 00:42:21,759 Speaker 1: this morning. S and P futures are down thirty five 747 00:42:21,840 --> 00:42:24,720 Speaker 1: points down, futures down two under at sixty five NASDAG 748 00:42:24,760 --> 00:42:28,760 Speaker 1: futures down nineties six ten. Your treasury up eighteen thirty seconds. 749 00:42:28,840 --> 00:42:32,280 Speaker 1: The yield is at two point eight two percent. Yield 750 00:42:32,320 --> 00:42:35,360 Speaker 1: on the two year two point six zero percent. Nim 751 00:42:35,480 --> 00:42:38,440 Speaker 1: X screwd Oyle falling down four point three percent on 752 00:42:38,560 --> 00:42:41,560 Speaker 1: four dollars forty one cents at ninety seven dollars sixty 753 00:42:41,640 --> 00:42:44,000 Speaker 1: seven cents of barrel and still a haad on Bloomberg 754 00:42:44,080 --> 00:42:45,920 Speaker 1: day break and check on the business headlines and all 755 00:42:45,960 --> 00:42:48,279 Speaker 1: the news you need to start your day. This is 756 00:42:48,320 --> 00:42:48,880 Speaker 1: Bloomberg