WEBVTT - Bloomberg Daybreak: April 12, 2022 - Hour 2 (Radio) 0:00:03.320 --> 0:00:06.600 Lie from the Bloomberg Interacted Brooker Studios. This is Bloomberg 0:00:06.680 --> 0:00:10.200 Daybreak for a Tuesday, April twelve two. Coming up this hour, 0:00:10.480 --> 0:00:13.640 President Biden will allows sales of higher ethanol gas in 0:00:13.680 --> 0:00:16.320 a bid to curb costs. Treasury yields you jump to 0:00:16.360 --> 0:00:20.000 the highest level since and investors brace for the March 0:00:20.120 --> 0:00:24.280 CPI report. Economists forecast inflation at a four decade high. 0:00:24.960 --> 0:00:29.200 New Jersey approved seven facilities for recreational pot sales lost. 0:00:29.200 --> 0:00:32.520 The US is telling non essential government staff to leave Shanghai. 0:00:32.760 --> 0:00:36.240 I am Michael Lauren. More ahead, I'm John stash Our. Sports. 0:00:36.240 --> 0:00:38.600 The Phillies rallied past the mess The Blue Jay shut 0:00:38.600 --> 0:00:41.240 out the Yankees. The Nets host Cleveland in a play 0:00:41.240 --> 0:00:46.920 in game tonight. That's all straded ahead on Bloomberg Daybreak 0:00:47.280 --> 0:00:51.920 on Bloomberg eleven, Free on New York, Bloomberg Washington, d C, 0:00:52.400 --> 0:00:56.680 Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, 0:00:57.160 --> 0:01:00.160 Sirius x M one nine Team, and around the world 0:01:00.160 --> 0:01:03.040 on Bloomberg Radio dot Com. I'm and via the Bloomberg 0:01:03.080 --> 0:01:10.280 Business App. Good morning, I'm Nathan Hagar, and I'm Karen Moscow, 0:01:10.480 --> 0:01:13.080 US dock in knecks. Future is a little change this morning, 0:01:13.120 --> 0:01:14.760 coming up to six o one on Wall Street. We 0:01:14.840 --> 0:01:17.280 checked the markets every fifteen minutes throughout the trading day 0:01:17.319 --> 0:01:20.520 on Bloomberg SMP futures that will change this morning, So 0:01:20.600 --> 0:01:23.679 we're down futures, nowsdack futures higher up about thirty four. 0:01:24.040 --> 0:01:27.039 Ten year Treasury down to thirty seconds two points seven 0:01:27.040 --> 0:01:29.600 eight percent, yield on the two year two point five 0:01:29.600 --> 0:01:32.119 two percent, and now I'm ex screwed. Oil is up 0:01:32.120 --> 0:01:35.119 three point one percent. Nathan Karen. We begin with breaking 0:01:35.160 --> 0:01:37.920 news this morning. A new initiative by the Biden administration 0:01:37.959 --> 0:01:40.920 aims to give a boost to ethanol while lowering prices 0:01:40.959 --> 0:01:43.640 at the pump. Amy Morris reports from our Bloomberg ninety 0:01:43.920 --> 0:01:46.640 one newsroom in Washington. The plan to expand sales of 0:01:46.720 --> 0:01:49.680 higher ethanol gasoline would be a temporary change during the 0:01:49.760 --> 0:01:53.560 summer months. It would also waigh anti pollution restrictions, which 0:01:53.560 --> 0:01:56.960 would otherwise block warm weather sales of fifteen in areas 0:01:56.960 --> 0:02:00.040 where smog is a problem. Fifteen cells about five to 0:02:00.120 --> 0:02:03.440 ten cents per gallon less than regular gasoline. And while 0:02:03.520 --> 0:02:07.240 the move might replace oil consumption with corn consumption, the 0:02:07.280 --> 0:02:10.880 war on Ukraine could also boost corn prices in coming months, 0:02:11.000 --> 0:02:15.160 so administration officials say the calculus could change. In Washington, 0:02:15.240 --> 0:02:17.880 I'm Amy Morris Bloomberg, daybreak, right, Amy, thank you all, 0:02:17.919 --> 0:02:20.320 turning to the war in Ukraine. Now, India and the 0:02:20.360 --> 0:02:23.400 United States are trying to smooth some rough waters created 0:02:23.440 --> 0:02:26.799 by Russia's invasion, and Bloomberg said, Bachelor has the story. 0:02:27.240 --> 0:02:30.080 The virtual meeting between Prime Minister and Derrendro Moody and 0:02:30.080 --> 0:02:33.360 President Joe Biden focused in large part on India's purchases 0:02:33.639 --> 0:02:36.440 of Russian oil, and White House spokes of A Jem 0:02:36.520 --> 0:02:40.040 Saki says a message was forceful. The imports from the 0:02:40.120 --> 0:02:43.400 United States are already significant, for much bigger than the 0:02:43.440 --> 0:02:46.640 imports that they get from Russia. Uh and we, of 0:02:46.680 --> 0:02:49.720 course the President conveyed very clearly that it is not 0:02:49.800 --> 0:02:52.280 in their interest to increase that. Now. Having said that, 0:02:52.320 --> 0:02:56.320 both sides characterize of toxes friendly in San Francisco, I'm 0:02:56.320 --> 0:02:58.919 at Baxter Bloomberg, Daybreak, all right, and thank you, anything 0:02:58.960 --> 0:03:01.359 but friendly in Ukrain, and the Merrier of Mary Paul 0:03:01.400 --> 0:03:04.679 says Russian troops killed more than ten thousand civilians in 0:03:04.680 --> 0:03:07.960 their attempt to capture the ports city. Russia categorically denies 0:03:07.960 --> 0:03:11.000 purposely killing civilians. The US is warning the invasion is 0:03:11.000 --> 0:03:14.160 set to enter a very bloody phase, but retired Lieutenant 0:03:14.160 --> 0:03:17.480 General David Deptula tells US Ukraine could still win. Don't 0:03:17.600 --> 0:03:20.880 stand a better chance if the United States and NATO 0:03:21.080 --> 0:03:23.480 supply them with the kind of weapons that will give 0:03:23.520 --> 0:03:26.919 you krant an advantage. And that means more advanced air 0:03:26.960 --> 0:03:30.880 defenses like spider aircraft, surface to air missiles as well 0:03:30.919 --> 0:03:34.000 as service to surface missiles. Because the best way to 0:03:34.000 --> 0:03:36.600 stop the Russian air forces to kill it on the ground. 0:03:36.760 --> 0:03:39.600 David Deptula spoke with our Washington correspondent Joe Matthew on 0:03:39.600 --> 0:03:42.520 Bloomberg Sound on Catch the program weekdays at five pm 0:03:42.520 --> 0:03:45.600 Eastern on Bloomberg Radio, and we turned to the markets. Now, Nathan, 0:03:45.640 --> 0:03:48.040 the sell off and bonds continues this morning. In fact, 0:03:48.040 --> 0:03:50.320 the ten year treasury yield is trading at its highest 0:03:50.400 --> 0:03:53.640 level since eighteen right now is a two point seven 0:03:53.640 --> 0:03:57.040 eight percent and Bloomberg cross As editor Joanna Austen Jerry 0:03:57.040 --> 0:04:00.200 says analysts expect yields to keep rising two point eight 0:04:00.240 --> 0:04:02.800 three percent on the tenuere treasury. That's about where it 0:04:02.840 --> 0:04:05.480 peaks out today. That's where the yield would breach a 0:04:05.480 --> 0:04:09.560 long term trend line that started in the early nineteen eighties. Um, 0:04:09.640 --> 0:04:11.920 but a lot of people do expect it to happen, right. 0:04:11.920 --> 0:04:14.920 You have JP Morgan Asset Management, MUFG Security seeing a 0:04:14.960 --> 0:04:17.839 move past three and g s FM expects it to 0:04:17.920 --> 0:04:21.520 test three point five percent, So we are seeing most 0:04:21.560 --> 0:04:24.440 people kind of expecting it to continue. Bloomberg Show and 0:04:24.480 --> 0:04:27.560 Allison jur reports of Bloomberg Gage measuring total returns in 0:04:27.600 --> 0:04:30.440 treasuries I slumped almost eight percent this year, and that's 0:04:30.480 --> 0:04:32.839 on track for its worst annual decline since at least 0:04:32.880 --> 0:04:36.320 nineteen seventy three. Consumer price data do later this morning, 0:04:36.400 --> 0:04:39.560 Karen May push yields up further. Economists forecast and eight 0:04:39.600 --> 0:04:42.480 point four percent annual gain in Marches index. We get 0:04:42.520 --> 0:04:44.960 a preview from Bloomberg's Michael McKee. It's a week of 0:04:45.000 --> 0:04:49.240 economic data focused on inflation. With today's Consumer Price Index report, well, 0:04:49.600 --> 0:04:51.880 it's hard to call it a highlight. The forecast headline 0:04:51.920 --> 0:04:54.680 would be a scary one. Indeed, the highest inflation since 0:04:54.800 --> 0:04:59.799 nineteen two, when the nation's benchmark interest rate was fifteen percent, Energy, food, 0:04:59.800 --> 0:05:03.280 and housing costs are putting continued pressure on prices, while 0:05:03.320 --> 0:05:05.960 oil prices have fallen a bit in recent days. That 0:05:06.000 --> 0:05:08.880 won't show up in the March CPI. What higher prices 0:05:08.960 --> 0:05:12.200 may mean is lower consumer spending on things outside of 0:05:12.240 --> 0:05:15.520 those three categories. Will get retail sales figures for March. 0:05:15.760 --> 0:05:19.040 On Thursday, Michael McKee Bloomberg Debris Mike, thank you as 0:05:19.080 --> 0:05:22.400 investors brace for the CPI report, more predictions have a recession. 0:05:22.400 --> 0:05:25.719 This morning that Peterson Institute for International Economics says the 0:05:25.720 --> 0:05:28.520 global economy is set for a setback by the end 0:05:28.520 --> 0:05:31.280 of the year, and recession risks are elevated against the 0:05:31.279 --> 0:05:35.000 backdrop of Russia's invasion of Ukraine and COVID shutdowns in China. 0:05:35.320 --> 0:05:38.039 The recent surgeon treasury yields has taken its hole on 0:05:38.200 --> 0:05:40.919 tech stocks. We get that story from Bloomberg's Charlie Hellett. 0:05:41.320 --> 0:05:45.360 The No Stack one stock index dropped two point four percent, 0:05:45.680 --> 0:05:49.120 adding colosses sustained last week that have erased over one 0:05:49.440 --> 0:05:53.279 trillion dollars in market value from the tech heavy benchmark 0:05:53.520 --> 0:05:57.159 in the past five sessions. Microsoft was down three point 0:05:57.240 --> 0:05:59.960 nine percent, it's worse decline in more than a month. 0:06:00.200 --> 0:06:03.960 Chip maker in videos, saying five point two percent, extending 0:06:04.040 --> 0:06:07.960 losses sustained over the past five sessions to twenty percent. 0:06:08.360 --> 0:06:10.520 The stock has not had a five day run this 0:06:10.640 --> 0:06:16.440 bad since March of In New York, Charlie pellets Bloomberg Daybreak, Right, Charlie, 0:06:16.480 --> 0:06:18.359 thank you. One of the chech stocks not involved in 0:06:18.360 --> 0:06:21.440 the sell office. Twitter speculations still swirling on the impact 0:06:21.480 --> 0:06:24.320 Elon Musk may have at the social media company, and 0:06:24.320 --> 0:06:27.480 we get the latest line from Bloomberg's Ranita Young, Good morning, Radida, 0:06:27.560 --> 0:06:30.200 Good morning Karen. Now that Elon Musk is no longer 0:06:30.279 --> 0:06:33.640 accepting a position on Twitter's board, he may acquire additional 0:06:33.680 --> 0:06:36.920 shares of the company. Web Bush Securities analyst Dan I've 0:06:37.000 --> 0:06:39.680 says it's highly likely that Musk takes a more hostile 0:06:39.760 --> 0:06:42.800 stance toward Twitter and further built his active steak in 0:06:42.839 --> 0:06:45.880 the company. Musk currently owns nine point two percent of 0:06:45.880 --> 0:06:49.720 Twitter and is its largest individual shareholder, and since he's 0:06:49.760 --> 0:06:52.039 not on the board, he's not required to keep his 0:06:52.080 --> 0:06:56.280 stake below fifteen percent. Live in New York, I'm Nita Young, 0:06:56.279 --> 0:06:59.800 Bloomberg Daybreak. Okay, Nita, thank you. Bloomberg Daybreak is brought 0:06:59.800 --> 0:07:02.400 to you by b and Y Melons. Pershing learned why 0:07:02.400 --> 0:07:06.440 the world's most sophisticated wealth management and institutional firms rely 0:07:06.560 --> 0:07:10.880 on Pershing to help them improve profitability, create efficiency, attract talent, 0:07:10.960 --> 0:07:14.640 and mantage risk at pershing dot com. Straight ahead, your 0:07:14.680 --> 0:07:18.000 latest local headlines and a check of sports. This is 0:07:18.080 --> 0:07:25.440 Bloomberg Sound six o seven on Wall Street, Cloudy now 0:07:25.520 --> 0:07:28.360 forty nine degrees in Central Park. Still dealing with that accident. 0:07:28.480 --> 0:07:31.360 The southbound Degan at Yankees Stadium will get the update 0:07:31.400 --> 0:07:33.760 in traffic shortly. First Michael bar with what else is 0:07:33.800 --> 0:07:35.920 going on in New York end around the world. Good morning, Michael, 0:07:35.960 --> 0:07:39.840 Good morning Nathan. New Jersey regulators approved seven facilities that 0:07:40.000 --> 0:07:44.600 already sell medical marijuana to also sell recreational pot. The 0:07:44.680 --> 0:07:48.400 specific date wasn't set at the New Jersey Cannabis Regulatory 0:07:48.400 --> 0:07:53.000 Commission's vote during a remotely held meeting. The facilities must 0:07:53.000 --> 0:07:56.600 still pass a regulatory inspection of their operations and be 0:07:56.760 --> 0:08:00.600 issued new licenses. Retail sales for the general public would 0:08:00.640 --> 0:08:04.640 start in thirteen dispensaries operated by the seven treatment centers 0:08:04.680 --> 0:08:08.720 across the state. Officials in Philadelphia reinstated the city's indoor 0:08:08.840 --> 0:08:13.400 mask mandate. It takes effect next Monday. Amid arising COVID infections, 0:08:13.760 --> 0:08:17.840 Philadelphia's Health Commissioner Cheryl Betegal, I'm announcing that we have 0:08:17.960 --> 0:08:20.400 reached the threshold from moving out of the all clear 0:08:20.680 --> 0:08:25.080 COVID response level and into the mass precautions level. Simply put, 0:08:25.160 --> 0:08:28.280 that means that we're reintroducing the mask mandate in Philadelphia. 0:08:28.720 --> 0:08:31.280 Commissioner better Goal says the city is averaging a hundred 0:08:31.280 --> 0:08:34.440 forty two new COVID nineteen infections a day. The US 0:08:34.559 --> 0:08:38.120 government ordered all non emergency staff at its Shanghai Council 0:08:38.160 --> 0:08:40.960 and their families to leave the Chinese city due to 0:08:41.000 --> 0:08:44.920 a surge in COVID cases. Most of Shanghai's twenty five 0:08:44.920 --> 0:08:48.920 million residents are subject to tight movement restrictions that keep 0:08:48.960 --> 0:08:51.720 them in their homes, making it unable to obtain food 0:08:51.800 --> 0:08:55.360 or necessities. A twenty three year old woman who falsely 0:08:55.400 --> 0:08:58.760 accused a black team of stealing her cell phone at 0:08:58.760 --> 0:09:02.000 a New York City hotel avoids jail time after pleading 0:09:02.000 --> 0:09:05.720 guilty to a hate crime. Maya Ponsetto attacked the team 0:09:05.800 --> 0:09:11.280 at the Arlow Hotel in December after the hearing, defense 0:09:11.280 --> 0:09:16.000 attorney pulled. Emilia spoke for his client. This Poncetto is 0:09:16.080 --> 0:09:20.920 thankful for the thoughtfulness and the empathy that the d 0:09:20.920 --> 0:09:24.680 a's office showed. Defense Attorney the Ammia says that they're 0:09:24.720 --> 0:09:28.319 happy and relieved that this ordeal is over. President Joe 0:09:28.320 --> 0:09:31.600 Biden announced the finalization of new federal rules restricting so 0:09:31.679 --> 0:09:35.839 called ghost guns, which allowed purchasers to assemble potentially untraceable 0:09:35.840 --> 0:09:39.719 weapons from kits. Law enforcement is sounding the alarm our. 0:09:39.760 --> 0:09:43.679 Communities are paying the price. I'm were acting today. The 0:09:43.760 --> 0:09:46.920 United States Department of Justice is making it illegal for 0:09:47.000 --> 0:09:49.920 a business to manufacture one of these kids without a 0:09:50.000 --> 0:09:54.839 serial number. Illegal. President by Global News twenty four hours 0:09:54.840 --> 0:09:57.320 a day on air and on Bloomberg Quick Take, powered 0:09:57.320 --> 0:09:59.960 by more than twenty seven undred journalists analysts more than 0:10:00.040 --> 0:10:03.720 hundred twenty countries. Michael Barr, this is Bloomberg NA all right, Michael. 0:10:03.760 --> 0:10:10.240 Thanks almost six ten on Wall Street time for the 0:10:10.240 --> 0:10:13.480 Bloomberg Sports Update with John Stenshower. Nathan and Mets began 0:10:13.600 --> 0:10:16.040 the season with three wins in Washington. Their first lost 0:10:16.040 --> 0:10:19.280 Sunday was a blown lead in the eighth inning in Philadelphia. 0:10:19.480 --> 0:10:22.280 That happened again. Want to pitch all the way swung 0:10:22.320 --> 0:10:24.720 on the field. It's gonna get down for a face 0:10:24.840 --> 0:10:27.040 hit in the gap and it's gonna give the Phillies 0:10:27.120 --> 0:10:30.719 the lead. Gregorius drive for second. He's in there with 0:10:30.800 --> 0:10:34.400 the slide and the Phillies lead at five to four. 0:10:34.640 --> 0:10:36.600 Here on the bottom of the end. It was radio. 0:10:36.640 --> 0:10:39.360 So they wiped out a four nothing deficit, won five four, 0:10:39.400 --> 0:10:42.240 scoring all five in the e J. T. Rail Mudo 0:10:42.320 --> 0:10:44.079 with a two on Homer. He's Hopkins a hit to 0:10:44.120 --> 0:10:46.440 tie the game, and then TV Gregory has put him 0:10:46.440 --> 0:10:48.520 the head. Yankee bats were quired at the stadium only 0:10:48.600 --> 0:10:51.400 four singles off Toronto's Alec minoah and three Blue Jay 0:10:51.400 --> 0:10:54.600 bel Leavers. Toronto won three nothing, with George Springer driving 0:10:54.640 --> 0:10:56.920 in all three, two on Homer, third inning off Jamison 0:10:57.000 --> 0:10:59.760 till You on later in RBI double and San Diego's 0:10:59.760 --> 0:11:03.599 winning San Francisco Taylor Rogers got the save for the Padres. 0:11:03.679 --> 0:11:07.280 His twin brother, Tyler Rodgers, took the loss for the Giants. 0:11:07.320 --> 0:11:10.040 The Learner family purchased the Washington Nationals in two thousand 0:11:10.120 --> 0:11:12.640 six for four hundred and fifty million dollars, now said 0:11:12.679 --> 0:11:16.400 to be looking to sell seeking around two billion. Big 0:11:16.440 --> 0:11:19.240 game of the Rangers. Tonight they host Carolina, who's in 0:11:19.320 --> 0:11:21.280 first place but just two points ahead of the Blue 0:11:21.320 --> 0:11:23.440 stre It's an even bigger game. So then at zat 0:11:23.480 --> 0:11:26.040 Barkley is against Cleveland. The play in games decide who 0:11:26.080 --> 0:11:28.520 will be the seventh seed in the East faced Boston 0:11:28.559 --> 0:11:30.720 in the first round of the playoffs. The loser will 0:11:30.800 --> 0:11:33.760 host a game Friday against Atlanta or Charlotte, and that 0:11:33.920 --> 0:11:36.600 winner will be the eighth scene take on Miami. Frank 0:11:36.679 --> 0:11:39.040 Bogo out as coach of the Lakers two years after 0:11:39.080 --> 0:11:41.760 winning the NBA NA. Reportedly, the Lakers will try to 0:11:41.840 --> 0:11:44.800 hire Nick Nurse away from Toronto. John Dashot work with 0:11:44.800 --> 0:11:48.680 Bloomberg Sports NA Thanks John SMP futures now little change down, 0:11:48.760 --> 0:11:53.440 futures down twenty points, NaNs deck futures up ten. Your 0:11:53.480 --> 0:11:56.320 treasuries down to thirty seconds with the yield right at 0:11:56.360 --> 0:11:58.559 two point seven nine percent and the yield on the 0:11:58.600 --> 0:12:03.199 two year right now two point five one. This is Bloomberg. 0:12:07.200 --> 0:12:09.920 Bloomberg Day Break, brought to you by ancient accountants and advisor's. 0:12:10.000 --> 0:12:13.120 Challenging times called for proactive advisors who helped minimize taxes, 0:12:13.200 --> 0:12:15.920 increase cash flow, and create opportunities for the future of 0:12:16.000 --> 0:12:23.680 your business. Visit ancient dot com markets, headlines and breaking 0:12:23.720 --> 0:12:26.560 news twenty four hours a day at Bloomberg dot Com, 0:12:26.720 --> 0:12:29.800 the Bloomberg Business at and at Bloomberg Quick Tape. This 0:12:30.240 --> 0:12:38.920 is a Bloomberg Business lash and I'm Cameron Moscow. US 0:12:39.040 --> 0:12:42.120 dot Index futures and treasuries are stabilizing after the tenure 0:12:42.200 --> 0:12:44.640 yield jumped to the highest and twenty eighteen ahead of 0:12:44.640 --> 0:12:46.839 an inflation print that's set to bolster the case for 0:12:46.960 --> 0:12:51.160 aggressive federal reserve policy tightening. Check the markets every fifteen 0:12:51.200 --> 0:12:54.240 minutes throughout the trading day on Bloomberg. Right now, S 0:12:54.320 --> 0:12:57.400 and P futures are little changed. DAL futures are little 0:12:57.520 --> 0:13:00.240 changed as well, and now as Deck futures are higher 0:13:00.400 --> 0:13:03.280 up nineteen points and decks in Germany's down about one 0:13:03.400 --> 0:13:06.480 percent ten Your treasury down one thirty second yield two 0:13:06.480 --> 0:13:08.559 point seven eight percent. The yield on a two year 0:13:08.600 --> 0:13:11.680 two point five one percent NIMEX Scrude oil is up 0:13:11.720 --> 0:13:13.920 three and a quarter percent of three dollar seven cents 0:13:13.960 --> 0:13:16.720 at ninety seven dollar thirty six cents a barrel. Comic 0:13:16.760 --> 0:13:19.080 schoold is up half percent or ten dollars fifty cents 0:13:19.080 --> 0:13:21.960 at nineteen fifty eight seventy an ounce, the euro one 0:13:22.000 --> 0:13:24.600 point eight seven zero against the dollar British found one 0:13:24.640 --> 0:13:27.320 point three zero zero seven and then is at one 0:13:27.360 --> 0:13:30.440 twenty five point five nine bitcoin this morning higher up 0:13:30.480 --> 0:13:33.400 seven tenths percent at forty thousand, one hundred twenty dollars. 0:13:33.760 --> 0:13:36.199 That's a Bloomberg business flash. Now here's Michael Barr with 0:13:36.280 --> 0:13:39.160 more on what's going on around the world. Michael Karen, 0:13:39.200 --> 0:13:42.200 thank you very much. A spokesman from Moscow back separatists 0:13:42.320 --> 0:13:46.280 in eastern Ukraine has denied using chemical weapons to uproot 0:13:46.440 --> 0:13:49.920 Ukrainian troops in the port city of Mariouple. Meanwhile, the 0:13:50.000 --> 0:13:52.760 mayor of Maryupol says Russian troops have killed more than 0:13:52.840 --> 0:13:56.400 ten thousands billions over the past six weeks. A federal 0:13:56.520 --> 0:13:59.760 jury in Washington, d C. Convicted a former Virginia police 0:13:59.800 --> 0:14:03.120 off there on all charges stemming from the January six 0:14:03.360 --> 0:14:06.679 riot at the US Capitol. The defendant, Thomas Robertson, was 0:14:06.720 --> 0:14:10.079 accused of wielding a stick and interfering with police. In 0:14:10.200 --> 0:14:13.400 Major League Baseball, the met Yankees, Red Sox and Giants 0:14:13.559 --> 0:14:17.640 lost the Nationals, Orioles and A's one Global News twenty 0:14:17.679 --> 0:14:20.640 four hours a day on air and on Bloomberg Quick Take, 0:14:20.880 --> 0:14:23.760 powered by more than twenty seven hundred journalists and analyst 0:14:23.800 --> 0:14:26.360 are more than a d twenty countries. Michael Barr and 0:14:26.480 --> 0:14:30.480 this is Bloomberg. Nathan Okay, Michael. Thanks at six nineteen 0:14:30.520 --> 0:14:33.560 on Wall Street Live from the Bloomberg Interactive Broker Studios. 0:14:33.680 --> 0:14:36.640 This is Bloomberg Daybreak and Roslyn Mathieson is back with 0:14:36.760 --> 0:14:40.840 us this morning, Executive editor for International Government for Bloomberg News. 0:14:40.960 --> 0:14:46.920 As we continue hearing these growing calls for a more protracted, 0:14:47.000 --> 0:14:50.720 more bloody phase for the war in Ukraine, particularly to 0:14:51.000 --> 0:14:54.160 the east, but given some of the reports and images 0:14:54.280 --> 0:14:58.040 we've seen Roz, it's difficult to imagine the war getting 0:14:58.240 --> 0:15:01.840 even more intense than it already had hours. That's right, 0:15:01.920 --> 0:15:04.640 but if anything, it seems like it may because it 0:15:04.760 --> 0:15:08.160 looks like Russia, which has already been fighting heavily in 0:15:08.280 --> 0:15:10.840 the eastern part of the country and laying siege to 0:15:11.040 --> 0:15:15.040 towns like Mariopol for weeks now, is girding itself for 0:15:15.200 --> 0:15:18.520 a fresh, big assault and that's all to deliver the 0:15:18.640 --> 0:15:22.280 Russian president some sort of victory to claim by May nine, 0:15:22.360 --> 0:15:24.760 which is the of course, their day, they mark their 0:15:24.840 --> 0:15:27.640 victory day in World War Two, So it seems like 0:15:27.760 --> 0:15:30.840 they're really girding their forces there for some kind of 0:15:30.920 --> 0:15:33.960 full assault, and that would be to either expand the 0:15:34.120 --> 0:15:37.840 territory that they currently have or to to really entrench 0:15:37.920 --> 0:15:41.520 themselves there and make themselves impossible to be booted out again. 0:15:41.720 --> 0:15:44.240 And that's the warning that we're seeing, not just from Ukraine, 0:15:44.280 --> 0:15:46.920 but also from countries like the US and others that 0:15:47.000 --> 0:15:49.360 all signs are that the level of Russian troops and 0:15:49.400 --> 0:15:52.520 equipment that's piling in to the east now suggests that 0:15:52.560 --> 0:15:54.720 they're really pushing ahead for a major assault in the 0:15:54.800 --> 0:15:58.200 coming days. What is NATO and what are the US 0:15:58.480 --> 0:16:03.480 pushing for as well? We've heard recent comments just moments 0:16:03.520 --> 0:16:06.720 ago really from Russian President Vladimir Putin. Some of his 0:16:06.880 --> 0:16:10.720 latest rhetoric is that conflict with the West is inevitable. 0:16:11.160 --> 0:16:14.600 What does that imply well, his suggestion all of that 0:16:14.880 --> 0:16:17.560 is what he has been saying for sometime, which is 0:16:17.720 --> 0:16:20.680 his view that Russia is the one that's being laid 0:16:20.720 --> 0:16:23.440 siege to, It's the one that's being encroached upon by 0:16:23.480 --> 0:16:27.040 countries in NATO and elsewhere. It's NATO pushing out towards 0:16:27.160 --> 0:16:30.640 Russia's periphery that has forced this action, rather than NATO 0:16:30.800 --> 0:16:35.080 responding to what was Russia's actions inside Ukraine and suggestion 0:16:35.120 --> 0:16:38.640 from him that he sees his mission as continuing, especially 0:16:38.640 --> 0:16:42.040 in the don Bass area, that he sees the military 0:16:42.080 --> 0:16:45.000 operations he calls it in Ukraine so far as successful 0:16:45.040 --> 0:16:48.280 and set to continue. And what are we hearing further 0:16:48.480 --> 0:16:52.800 rise about the idea of further evidence of war crimes? 0:16:52.840 --> 0:16:55.480 You heard the report from Michael Barr about the possibility 0:16:55.520 --> 0:16:59.080 of chemical weapons use in Ukraine. Are we seeing any 0:16:59.160 --> 0:17:02.760 real hard evidence that not at this stage? And of 0:17:02.840 --> 0:17:06.439 course there was one small unverified report last night from 0:17:06.600 --> 0:17:10.760 a civilian battalion located in Mariopol, but that seems to 0:17:10.920 --> 0:17:14.479 not have been chemical weapons or even potentially the use 0:17:14.560 --> 0:17:18.080 of chemicals, So everyone's been very cautious about that report. 0:17:18.119 --> 0:17:21.640 There's been nothing verified from the Ukrainian officials themselves, either 0:17:21.720 --> 0:17:25.040 the military or the government. But certainly the concern remains 0:17:25.080 --> 0:17:27.679 that as this war goes on, and particularly if Russia 0:17:28.200 --> 0:17:30.919 fails to execute what it sees as its military goals 0:17:31.280 --> 0:17:33.679 on the ground, does that lead the Russian president towards 0:17:33.720 --> 0:17:37.440 more extreme action? Does that mean potentially the deployment of 0:17:37.520 --> 0:17:41.840 chemicals or chemical weapons to some use inside Ukraine. Of course, 0:17:41.840 --> 0:17:45.520 there's been accusations across history of Russia doing that elsewhere. 0:17:45.920 --> 0:17:48.680 Russia says it destroyed its stocks of chemical weapons in 0:17:48.760 --> 0:17:52.000 two thousand and seventeen, other countries accused it of still 0:17:52.040 --> 0:17:55.920 maintaining at least small stock piles for potential use, and 0:17:56.280 --> 0:17:59.280 as that concern continues to build rise, it really has 0:17:59.359 --> 0:18:04.400 been stray king to see this shift coming from European allies, 0:18:04.640 --> 0:18:09.159 from diplomacy and sanctions being the focus against Russia to 0:18:09.280 --> 0:18:13.360 now even more talk of providing more heavy weapons to Ukraine. 0:18:13.600 --> 0:18:16.880 What kind of equipment, what kind of further support could 0:18:16.960 --> 0:18:20.000 Ukraine be looking for from Europe? Well, what they're really 0:18:20.040 --> 0:18:22.600 looking for as an escalation of those heavy weapons, more 0:18:22.640 --> 0:18:25.760 offensive weapons, because so far what countries have sent have 0:18:25.960 --> 0:18:29.200 largely been classed as defensive weapons. But the reality is 0:18:29.280 --> 0:18:32.200 that if Ukraine's are only going to defend territory, but 0:18:32.320 --> 0:18:35.000 take territory back from Russia, it will need different kinds 0:18:35.040 --> 0:18:38.000 of weapons, and that's more of armored vehicles and tanks. 0:18:38.040 --> 0:18:41.359 And so you're seeing an understanding amongst EU members and 0:18:41.440 --> 0:18:43.840 the US that that kind of stuff really needs to 0:18:43.920 --> 0:18:47.040 go into Ukraine and quickly. Of course, it doesn't appear 0:18:47.200 --> 0:18:49.280 magically in a day if you decide to send a 0:18:49.359 --> 0:18:52.159 tank to Ukraine. Even if those decisions are taken now, 0:18:52.280 --> 0:18:55.240 it could be um some weeks even before it actually 0:18:55.320 --> 0:18:58.120 arrives in The question is whether that's already too late. 0:18:58.200 --> 0:19:00.880 But certainly at least you're seeing and understanding that, despite 0:19:01.280 --> 0:19:03.639 the risk that it draws the eye of the Russian President, 0:19:03.720 --> 0:19:05.639 that a few crane is really going to withstand the 0:19:05.720 --> 0:19:08.080 attacks on the ground. It needs you with different kinds 0:19:08.080 --> 0:19:11.160 of equipment. All right, Thanks as always, ros good having 0:19:11.200 --> 0:19:14.760 you on for the latest. Rosalind mathieson Bloomberg News, Executive 0:19:14.880 --> 0:19:18.640 editor for International Government. Right now, SMP futures are down 0:19:18.760 --> 0:19:22.960 two points, STOW futures down thirty six, NASTACK futures are higher, 0:19:23.080 --> 0:19:25.520 but by just about eight and a half points. The 0:19:25.600 --> 0:19:28.680 tenure treasury right now is down to thirty seconds, with 0:19:28.760 --> 0:19:31.560 the yield very close to two point seven nine percent, 0:19:32.000 --> 0:19:34.800 the yield on the two year two point five one 0:19:34.880 --> 0:19:37.800 percent as we await the release of the March Consumer 0:19:37.880 --> 0:19:42.080 Price Index. In the US, NIMEX crude surging in the session, 0:19:42.200 --> 0:19:44.320 up three and a half percent or three dollars thirty 0:19:44.359 --> 0:19:48.439 three cents ninety seven dollars sixty two cents a barrel. 0:19:48.800 --> 0:19:52.560 Just ahead, we are bracing for another potentially historically high 0:19:52.640 --> 0:19:57.000 inflation print. And what are Elon Musk's plans with Twitter? 0:19:57.600 --> 0:19:59.680 The five things you need to know to start your day? 0:19:59.800 --> 0:20:08.600 Just the head on Bloomberg Daybreak. Bloomberg Daybreak is brought 0:20:08.600 --> 0:20:10.359 to you by the Jewish Communal Fund j c F. 0:20:10.440 --> 0:20:13.359 Stoner Advice Fund is the smart choice to manage your philanthropy, 0:20:13.520 --> 0:20:16.880 especially in times of crisis. Make your giving impactful. Visit 0:20:17.040 --> 0:20:23.439 j c F n Y dot org. Broadcasting live from 0:20:23.520 --> 0:20:27.320 the Bloomberg Interacted Broker's studio in New York. Bloomberg E 0:20:27.400 --> 0:20:31.320 Living Freedom to Washington, d C, Bloomberg On to Boston, 0:20:31.480 --> 0:20:34.720 Bloomberg one oh six one, to San Francisco, Bloomberg N 0:20:34.960 --> 0:20:38.200 sixty to the Country Sirius XM Chado one nineteen and 0:20:38.280 --> 0:20:41.600 around the globe, the Bloomberg Business apt and Bloomberg Radio 0:20:41.760 --> 0:20:50.960 dot Com. This is Bloomberg Daybreak. It's six thirty on 0:20:51.040 --> 0:20:54.280 Wall Street. Good morning. I'm Nathan Hager and I'm kerin Moscow, 0:20:54.359 --> 0:20:56.360 and we're just about three hours away from the open 0:20:56.440 --> 0:20:58.399 of US trading. Time for the five Things you need 0:20:58.440 --> 0:21:01.720 to Notice start your day. Brought to you by Interactive Brokers. 0:21:01.840 --> 0:21:05.359 Interactive Brokers charges margin loan rates from zero point eight 0:21:05.440 --> 0:21:07.840 three percent to one point a three percent rate, subject 0:21:07.880 --> 0:21:10.679 to change. Learn more at ibk R dot com. Slash 0:21:10.760 --> 0:21:14.200 compare a first. Fighting continues in Ukraine as the US 0:21:14.240 --> 0:21:17.280 warrants the Russian invasion is set to enter a very 0:21:17.480 --> 0:21:21.639 bloody phase. Retired Lieutenant General and David Deptula tells Bloomberg's 0:21:21.680 --> 0:21:25.600 Joe Matthew support for Ukraine must continue. They're fighting on 0:21:25.760 --> 0:21:28.719 behalf of the complete free world, and so we need 0:21:28.760 --> 0:21:31.800 to support him to the greatest degree possible, not the 0:21:31.920 --> 0:21:34.240 least that we can get by with, According to White 0:21:34.320 --> 0:21:38.119 House and Pentagon lawyer David Deptula's book Without Washington. Correspondent 0:21:38.200 --> 0:21:41.200 Joe Matthew on Bloomberg Sound on Catch the program weekdays 0:21:41.240 --> 0:21:43.840 at five pm Eastern on Bloomberg Radio. Back here in 0:21:43.840 --> 0:21:46.439 the U, S, care and economists say inflation will probably 0:21:46.480 --> 0:21:49.280 set a fresh four decade high for March. They project 0:21:49.320 --> 0:21:52.520 the US consumer price index rising eight point four percent 0:21:52.680 --> 0:21:56.400 year over year. Bloomberg's Vine Tell Judas reports March. Maybe 0:21:56.480 --> 0:22:00.520 the peak, Bloomberg Economics is commodity prices effect on the highs, 0:22:00.800 --> 0:22:03.119 but the climb down will be stubborn lee slow. With 0:22:03.240 --> 0:22:06.040 the US inflation rate running above seven percent much of 0:22:06.080 --> 0:22:09.080 this year. In February, the CPI row seven point nine 0:22:09.119 --> 0:22:11.640 percent year of the year, the Fed, meantime, will keep 0:22:11.720 --> 0:22:16.080 tightening higher interest rates that contain runaway prices be jude 0:22:16.080 --> 0:22:18.200 I s bloom birgday break right, Fanny, thank you? Ten 0:22:18.280 --> 0:22:20.840 year treasuries arose about two point eight percent to the 0:22:21.040 --> 0:22:24.160 highest level since December of twenty eight. Team. That would 0:22:24.200 --> 0:22:26.199 be the treasury yield to sell off threatens to end 0:22:26.240 --> 0:22:28.760 a four decade bull run in bonds. Right now ten 0:22:28.800 --> 0:22:31.840 year yields or at two point seven eight percent. Risks 0:22:31.880 --> 0:22:34.600