1
00:00:03,080 --> 00:00:04,840
Speaker 1: And it's now five oh seven on Wall Street where

2
00:00:04,920 --> 00:00:07,840
Speaker 1: forty six degrees in Central Park. That's emergency roadwork on

3
00:00:07,880 --> 00:00:10,720
Speaker 1: the New Jersey Turnpike. Look at the details and traffic shortly. First,

4
00:00:10,760 --> 00:00:12,760
Speaker 1: Michael Bars here with more on what's going on in

5
00:00:12,760 --> 00:00:15,200
Speaker 1: New York and around the world. Good morning, Michael, Good

6
00:00:15,240 --> 00:00:18,800
Speaker 1: morning Nathan. New York City Task Force has removed almost

7
00:00:18,840 --> 00:00:22,079
Speaker 1: two hundred forty homeless encampments over the past two weeks.

8
00:00:22,520 --> 00:00:25,240
Speaker 1: It's part of Mayor Eric adams strategy to clean up

9
00:00:25,239 --> 00:00:28,120
Speaker 1: public spaces and connect people living on the streets with

10
00:00:28,160 --> 00:00:32,400
Speaker 1: housing and social services. As if Mayor, of all of us,

11
00:00:32,720 --> 00:00:36,960
Speaker 1: including my homeless brothers assistants, I'm not leaving any New

12
00:00:37,040 --> 00:00:40,920
Speaker 1: York Is behind. We're moving together and that is the

13
00:00:40,960 --> 00:00:44,280
Speaker 1: goal of what we must accomplish. I'm not abandoning anyone.

14
00:00:44,720 --> 00:00:48,240
Speaker 1: I'm not believing that dignity is living in a cardboard

15
00:00:48,880 --> 00:00:54,360
Speaker 1: without a shower, without a toilet, living in terrible living conditions.

16
00:00:54,880 --> 00:00:57,560
Speaker 1: Mayor Adams has more than three hundred homeless people have

17
00:00:57,640 --> 00:01:02,080
Speaker 1: accepted social services New York City COVID nineteen. Cases are

18
00:01:02,160 --> 00:01:06,160
Speaker 1: rising again, particularly among people to thirty four years old.

19
00:01:06,600 --> 00:01:10,360
Speaker 1: Surge appears to be concentrated in Manhattan, the most vaccinated burrow.

20
00:01:10,760 --> 00:01:13,000
Speaker 1: The New York City Department of Health posted a warning

21
00:01:13,040 --> 00:01:16,160
Speaker 1: on Twitter saying they strongly recommend New Yorker's mask up

22
00:01:16,400 --> 00:01:19,800
Speaker 1: indoors and get booster shots. A deadly strain of bird

23
00:01:19,840 --> 00:01:22,960
Speaker 1: flu that's been raising egg prices ahead of Easter has

24
00:01:22,959 --> 00:01:26,360
Speaker 1: been discovered in five New u s States. According to

25
00:01:26,400 --> 00:01:30,960
Speaker 1: the Department of Agriculture, the virus increasingly is threatening American

26
00:01:31,000 --> 00:01:35,560
Speaker 1: poultry exports. The influenza was discovered in Massachusetts, North Carolina,

27
00:01:35,680 --> 00:01:39,920
Speaker 1: North Dakota, Ohio, and Wyoming. Chris Rock says he is

28
00:01:39,920 --> 00:01:43,320
Speaker 1: still processing the Will Smith slap at the Oscars. Rock

29
00:01:43,440 --> 00:01:46,200
Speaker 1: played before a sold out show in Boston last night.

30
00:01:46,440 --> 00:01:48,920
Speaker 1: The fifty seven year old comedian got a long standing

31
00:01:48,920 --> 00:01:52,400
Speaker 1: ovation from the crowd. Meanwhile, the Motion Picture Academy is

32
00:01:52,400 --> 00:01:55,800
Speaker 1: now revealing that Smith was asked to leave the Oscars

33
00:01:55,840 --> 00:01:59,080
Speaker 1: after he slapped Rock, but he refused. The Academy says

34
00:01:59,120 --> 00:02:03,200
Speaker 1: it has begun disperlinary proceedings against Smith, which could include expulsion.

35
00:02:03,600 --> 00:02:06,240
Speaker 1: Actor Bruce Willis is stepping away from his acting career.

36
00:02:06,600 --> 00:02:10,440
Speaker 1: His family says he has recently been diagnosed with aphasia,

37
00:02:10,560 --> 00:02:14,840
Speaker 1: which is impacting is cognitive abilities. Dr Jagen Polai is

38
00:02:14,880 --> 00:02:18,680
Speaker 1: a cognitive neurologist at the Cleveland Clinic Center for Brain Health.

39
00:02:19,080 --> 00:02:21,840
Speaker 1: There is a change in the language function of the

40
00:02:21,880 --> 00:02:27,120
Speaker 1: person because of blind change happening the language part of

41
00:02:27,160 --> 00:02:30,120
Speaker 1: the brain. Dr Belin told a d c a phasia

42
00:02:30,200 --> 00:02:33,600
Speaker 1: can be caused by an injury, stroke, or denderative disease.

43
00:02:34,040 --> 00:02:36,799
Speaker 1: Global News twenty four hours a day on air and

44
00:02:36,960 --> 00:02:39,359
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven

45
00:02:39,440 --> 00:02:42,240
Speaker 1: hundred journalists analysts more than a hundred twenty countries. Michael

46
00:02:42,280 --> 00:02:44,840
Speaker 1: bar this is Bloomberg, Nathan, tough news for Bruce Willis.

47
00:02:44,840 --> 00:02:51,320
Speaker 1: Thank you, Michael. Coming up to five ten on Wall

48
00:02:51,360 --> 00:02:53,280
Speaker 1: Street time for the Bloomberg Sports Up, Tay, Good morning,

49
00:02:53,320 --> 00:02:56,000
Speaker 1: John Stanshawn. You morning, Nathan. It has obviously been a

50
00:02:56,080 --> 00:02:58,560
Speaker 1: much better season for the Rangers than it has been

51
00:02:58,560 --> 00:03:00,600
Speaker 1: for the next they'll be a play off hockey at

52
00:03:00,600 --> 00:03:03,720
Speaker 1: the Garden, almost certainly not playoff hoops. Last night Rangers won,

53
00:03:04,120 --> 00:03:06,360
Speaker 1: Knicks lost their season high four game winspe came to

54
00:03:06,400 --> 00:03:10,400
Speaker 1: an end. Charlotte one one fourteen. Miles Bridges score thirty

55
00:03:10,400 --> 00:03:13,480
Speaker 1: one points, Flamelo Ball had twenty and fifteen assists Evan

56
00:03:13,560 --> 00:03:16,360
Speaker 1: for the Knicks with thirty. As to the Rangers back

57
00:03:16,400 --> 00:03:18,440
Speaker 1: and forth game in Detroit and didn't have to go

58
00:03:18,520 --> 00:03:22,679
Speaker 1: on the power play they score? Is it Crider or

59
00:03:22,760 --> 00:03:25,519
Speaker 1: cop of the doorstep? Prider took the shot. It's a

60
00:03:25,600 --> 00:03:28,880
Speaker 1: power play goal. We're tied at four. Miller on the ice,

61
00:03:29,320 --> 00:03:32,680
Speaker 1: cop pannerin far circle. Pennarities got cop gets at the

62
00:03:32,680 --> 00:03:37,600
Speaker 1: cop shoots at scores and crew copping over time. How

63
00:03:37,640 --> 00:03:40,280
Speaker 1: the Rangers win five full WPN had it a time?

64
00:03:40,360 --> 00:03:42,800
Speaker 1: Goal was by Chris Cryder. That's his forty six. It's

65
00:03:42,800 --> 00:03:45,480
Speaker 1: the Rangers sports may win. Some coaching news. First one

66
00:03:45,520 --> 00:03:47,800
Speaker 1: Seaton Hall, where Kevin Willard recently left to take over

67
00:03:47,800 --> 00:03:51,120
Speaker 1: at Maryland. Shaheen Halloway had been Willard's top assistant, first

68
00:03:51,120 --> 00:03:53,280
Speaker 1: at Iona, then for eight years at Seton Hall, where

69
00:03:53,320 --> 00:03:56,280
Speaker 1: Holloway was once his star point guard. So he might

70
00:03:56,320 --> 00:03:58,960
Speaker 1: have gotten this job even if he hadn't just coached St.

71
00:03:58,960 --> 00:04:01,240
Speaker 1: Peter's to arguably the greatest Cinderella run and n C

72
00:04:01,360 --> 00:04:04,960
Speaker 1: double A tournament history. No surprise, Holloway leaving the Peacocks

73
00:04:05,000 --> 00:04:06,880
Speaker 1: stayed in New Jersey, the coach of the Pirates, but

74
00:04:06,920 --> 00:04:09,520
Speaker 1: a big surprise last night out of Tampa Bay, Brose

75
00:04:09,640 --> 00:04:12,760
Speaker 1: Arians stepped down. He's going to assist Bucks GM Jason White,

76
00:04:12,800 --> 00:04:15,480
Speaker 1: Todd Bowles, who was the defense supportator before that. The

77
00:04:15,480 --> 00:04:17,520
Speaker 1: head coach of the Jets takes over. The sixty nine

78
00:04:17,560 --> 00:04:20,479
Speaker 1: year old Arians has had health issues, but insisted that

79
00:04:20,560 --> 00:04:23,080
Speaker 1: was not the reason for this movement. John Dash Award

80
00:04:23,080 --> 00:04:25,640
Speaker 1: and Bloomberg Sports Nathan Okay, John, thanks right now. S

81
00:04:25,680 --> 00:04:28,440
Speaker 1: and P futures up four points, Staff Futures down six,

82
00:04:28,560 --> 00:04:32,120
Speaker 1: nasdack futures hi are by fifty seven points. NIMEX s

83
00:04:32,160 --> 00:04:34,800
Speaker 1: crew down five point three per cent to a hundred

84
00:04:34,800 --> 00:04:37,200
Speaker 1: two dollars twelve cents of barrel on word, the Biden

85
00:04:37,200 --> 00:04:40,560
Speaker 1: administration could be thinking of a massive release from the

86
00:04:40,600 --> 00:04:43,119
Speaker 1: strategic reserve. We'll talk about the war next with Julie

87
00:04:43,160 --> 00:04:48,600
Speaker 1: Norman of uc L. This is Bloomberg Bloomberg eleven three

88
00:04:48,600 --> 00:04:51,200
Speaker 1: oh weather cloudie, breezy today, some afternoon showers possible of

89
00:04:51,240 --> 00:04:53,920
Speaker 1: the high year seventy turning partly sunny and breezy. Tomorrow.

90
00:04:54,000 --> 00:04:56,599
Speaker 1: Upper fifties will be the low fifties under a mix

91
00:04:56,600 --> 00:04:58,960
Speaker 1: of sun and clouds on Saturday. Right now forty six

92
00:04:59,160 --> 00:05:04,960
Speaker 1: in central Park, Markets, headlines and breaking news twenty four

93
00:05:04,960 --> 00:05:08,040
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business

94
00:05:08,040 --> 00:05:11,719
Speaker 1: Outland at Bloomberg Quick Take, this is a Bloombern business

95
00:05:11,800 --> 00:05:20,560
Speaker 1: lash and I'm Karin Moscow and energy stocks are dropping

96
00:05:20,560 --> 00:05:23,599
Speaker 1: with oil prices and investors Way reports that the Biden

97
00:05:23,640 --> 00:05:26,880
Speaker 1: administration is considering a massive release of crude from US

98
00:05:26,960 --> 00:05:29,880
Speaker 1: reserves to find inflation. Stocks in Europe are set for

99
00:05:29,920 --> 00:05:34,080
Speaker 1: the first quarterly declient since US dock index futures are

100
00:05:34,080 --> 00:05:36,400
Speaker 1: pairing in advance, and we checked the markets every fifteen

101
00:05:36,400 --> 00:05:39,040
Speaker 1: minutes throughout the trading day. On Bloomberg U S and

102
00:05:39,080 --> 00:05:41,440
Speaker 1: P Future is up six points right now, DAL Future

103
00:05:41,480 --> 00:05:44,240
Speaker 1: is little changed. Nasdack Future is up sixty eight. The

104
00:05:44,320 --> 00:05:47,000
Speaker 1: decks in Germany is little changed as well. Ten your

105
00:05:47,040 --> 00:05:49,400
Speaker 1: treasury up to thirty seconds. You have two point three

106
00:05:49,440 --> 00:05:51,840
Speaker 1: three percent. They yield on the two year two point

107
00:05:51,880 --> 00:05:54,960
Speaker 1: to nine percent. Nine X Screwed oil is down five

108
00:05:55,000 --> 00:05:57,440
Speaker 1: point six percent on six dollars eight cents and a

109
00:05:57,480 --> 00:06:00,480
Speaker 1: hundred one dollar seventy cents of barrel. Comma School down

110
00:06:00,520 --> 00:06:03,400
Speaker 1: six tents per cent or twelve dollars at ninety eight

111
00:06:03,480 --> 00:06:07,360
Speaker 1: announce the euro one point nine against the dollar, British

112
00:06:07,400 --> 00:06:10,120
Speaker 1: pound one point three one to seven, the ends at

113
00:06:10,120 --> 00:06:13,560
Speaker 1: one two point oh three and Bitcoin this morning lower

114
00:06:13,600 --> 00:06:16,360
Speaker 1: down two chance per set at forty seven thousand, one

115
00:06:16,800 --> 00:06:20,000
Speaker 1: seventy dollars. That's a Bloomberg business flash. Now here's Muchael

116
00:06:20,040 --> 00:06:22,640
Speaker 1: Barrow with more on what's going on around the world. Muchel,

117
00:06:22,680 --> 00:06:26,200
Speaker 1: Good morning, Good morning, Karen. Ukraine's president says his country's

118
00:06:26,240 --> 00:06:29,640
Speaker 1: defense against the Russian invasion is at a turning point,

119
00:06:29,880 --> 00:06:33,480
Speaker 1: but Lodamir Zelenski again press the United States for more help,

120
00:06:33,720 --> 00:06:37,040
Speaker 1: hours after the Kremlin's forces renegged on a pledge to

121
00:06:37,080 --> 00:06:41,120
Speaker 1: scale back some of their operations. Meanwhile, a Ukrainian negotiators

122
00:06:41,160 --> 00:06:44,400
Speaker 1: as officials from Ukraine and Russia are set to resume

123
00:06:44,520 --> 00:06:48,599
Speaker 1: talks via video conference tomorrow. As the regular NBA season

124
00:06:48,640 --> 00:06:52,560
Speaker 1: winds down. The next Celtics and Warriors lost, the Wizards won.

125
00:06:52,880 --> 00:06:56,279
Speaker 1: Coach Sheeen Holloway is leaving St. Peter's for Seaton Hall,

126
00:06:56,360 --> 00:07:00,159
Speaker 1: just days after helping the Little Jesuit School make history

127
00:07:00,200 --> 00:07:02,320
Speaker 1: becoming the first fifteenth seed to reach the n C

128
00:07:02,400 --> 00:07:05,239
Speaker 1: Double A Tournaments Elite eight. In the NHL, the Rangers

129
00:07:05,279 --> 00:07:07,880
Speaker 1: beat the Red Wings and o t five four Global

130
00:07:07,920 --> 00:07:10,320
Speaker 1: News twenty four hours a day on air and on

131
00:07:10,400 --> 00:07:14,520
Speaker 1: Bloomberg Quick Take, powered by more than journalists and analysts

132
00:07:14,560 --> 00:07:17,320
Speaker 1: more than a hundred twenty countries. Michael Barr and this

133
00:07:17,640 --> 00:07:19,680
Speaker 1: is Bloomberg, Nathan. Yeah, you'd think that coach would be

134
00:07:19,720 --> 00:07:22,680
Speaker 1: in high demand now, Thank you, Michael. It's five nineteen

135
00:07:22,680 --> 00:07:25,640
Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios.

136
00:07:25,720 --> 00:07:28,840
Speaker 1: This is Bloomberg Daybreak, and Julie Norman is with us

137
00:07:28,840 --> 00:07:31,280
Speaker 1: this morning, co director of the Center on US Politics

138
00:07:31,560 --> 00:07:34,800
Speaker 1: at University College London, as we continue following the latest

139
00:07:34,840 --> 00:07:37,400
Speaker 1: on the war in Ukraine, Professor, Good morning. As we

140
00:07:37,480 --> 00:07:41,360
Speaker 1: heard from Michael Barr in the news, talks could resume

141
00:07:41,480 --> 00:07:45,160
Speaker 1: tomorrow between Ukrainian and Russia negotiators. Is there any reason

142
00:07:45,200 --> 00:07:48,520
Speaker 1: to think that the discussions would make any more headway

143
00:07:48,600 --> 00:07:51,760
Speaker 1: than what we saw in Turkey earlier this week? Well,

144
00:07:51,760 --> 00:07:54,880
Speaker 1: good morning, Nathan. One of the challenges right now is

145
00:07:54,960 --> 00:07:57,840
Speaker 1: what we're hearing out of the negotiations and then what

146
00:07:57,920 --> 00:08:00,000
Speaker 1: we're hearing from the Kremlin and seeing on the back

147
00:08:00,000 --> 00:08:02,600
Speaker 1: a field tend to be quite different. So on the

148
00:08:02,640 --> 00:08:06,240
Speaker 1: one hand, there was some apparent progress made earlier this week,

149
00:08:06,360 --> 00:08:10,320
Speaker 1: at the meetings in Turkey, with very frank discussions about

150
00:08:10,440 --> 00:08:15,280
Speaker 1: Ukraine's potential neutral status moving forward with central security guarantees

151
00:08:15,320 --> 00:08:18,160
Speaker 1: from other states UH and talking about more of a

152
00:08:18,240 --> 00:08:20,520
Speaker 1: focus on what the territories in the East will look

153
00:08:20,560 --> 00:08:23,160
Speaker 1: like in the future. So I think that's still where

154
00:08:23,200 --> 00:08:26,160
Speaker 1: the crux of the negotiations will ultimately end up. But

155
00:08:26,280 --> 00:08:30,080
Speaker 1: unfortunately we're not seeing is a ceasefire or withdrawal of

156
00:08:30,120 --> 00:08:33,760
Speaker 1: troops that would actually allow for those more substantive UH

157
00:08:33,800 --> 00:08:37,280
Speaker 1: negotiations to happen. And indeed, Russia's claims that they would

158
00:08:37,320 --> 00:08:40,719
Speaker 1: be drawing down some of their offenses near Kievan elsewhere

159
00:08:41,200 --> 00:08:43,760
Speaker 1: have not borne out. In practice, we're still seeing we're

160
00:08:43,800 --> 00:08:46,200
Speaker 1: still seeing offenses in those areas as well as in

161
00:08:46,240 --> 00:08:48,600
Speaker 1: the East. So until things actually changed on the ground,

162
00:08:48,800 --> 00:08:51,720
Speaker 1: it's going to be difficult for the real substance measures

163
00:08:51,720 --> 00:08:54,360
Speaker 1: to move forward at the table in the negotiations. Yeah,

164
00:08:54,360 --> 00:08:56,880
Speaker 1: that's certainly what we're hearing from officials on the ground

165
00:08:56,880 --> 00:08:59,800
Speaker 1: in Ukraine as well as from the Pentagon. They're terming

166
00:08:59,840 --> 00:09:04,240
Speaker 1: the Russian claims of de escalation as more like a repositioning.

167
00:09:04,400 --> 00:09:06,440
Speaker 1: What does that say about where this war could go

168
00:09:06,600 --> 00:09:09,800
Speaker 1: from here? Well, I think it's that the war will

169
00:09:09,880 --> 00:09:12,840
Speaker 1: likely go on for for quite a bit longer, unfortunately,

170
00:09:13,200 --> 00:09:16,720
Speaker 1: but it's it's also most likely that Russia will start

171
00:09:16,800 --> 00:09:21,000
Speaker 1: emphasizing their operations in the east much more strongly. I

172
00:09:21,000 --> 00:09:23,840
Speaker 1: think it's pretty clear now and definitely from the start

173
00:09:23,880 --> 00:09:26,839
Speaker 1: even of the the invasion, that Putin is really trying

174
00:09:26,840 --> 00:09:30,280
Speaker 1: to control the dun Bus region, um Danetsk and enhance

175
00:09:30,360 --> 00:09:33,800
Speaker 1: those areas that already had large separatist regions within them,

176
00:09:33,840 --> 00:09:36,200
Speaker 1: trying to expand those trying to build a land bridge

177
00:09:36,240 --> 00:09:39,160
Speaker 1: to Crimea. So in terms of territory and where I

178
00:09:39,160 --> 00:09:41,760
Speaker 1: think we'll see the offenses focus, I do think we'll

179
00:09:41,760 --> 00:09:43,760
Speaker 1: see that shift to the east, but again I think

180
00:09:43,760 --> 00:09:45,480
Speaker 1: we'll still see that pressure on other parts of the

181
00:09:45,520 --> 00:09:48,040
Speaker 1: country as well. Um, all we can hope is that

182
00:09:48,080 --> 00:09:51,719
Speaker 1: these negotiations, which have been you know, extremely sluggish but

183
00:09:51,840 --> 00:09:54,880
Speaker 1: are like some extremely baby steps of progress, will just

184
00:09:54,960 --> 00:09:57,120
Speaker 1: keep chipping away at the meantime to a point that

185
00:09:57,200 --> 00:10:00,160
Speaker 1: Zelenski and Putin can actually meets and and trying work

186
00:10:00,160 --> 00:10:02,439
Speaker 1: out what this might look like. It's also been very

187
00:10:02,480 --> 00:10:06,240
Speaker 1: interesting to hear the Biden administration sharing intelligence in the

188
00:10:06,240 --> 00:10:09,120
Speaker 1: way it has even before the war began telegraphing that

189
00:10:09,200 --> 00:10:12,920
Speaker 1: Russia would be invading within days. And now the White

190
00:10:12,920 --> 00:10:16,840
Speaker 1: House saying that they have intelligence that Russian President Vladimir

191
00:10:16,840 --> 00:10:20,440
Speaker 1: Putin is being misinformed by his military about how the

192
00:10:20,440 --> 00:10:22,480
Speaker 1: war is going. What is the advantage for the US

193
00:10:22,520 --> 00:10:26,160
Speaker 1: and allies to share intelligence in this way. Yeah, with

194
00:10:26,240 --> 00:10:29,240
Speaker 1: an interesting approach, Nathan, And it's one that the US started,

195
00:10:29,280 --> 00:10:32,240
Speaker 1: as you noted, before the invasion, essentially to try and

196
00:10:32,280 --> 00:10:36,560
Speaker 1: get out ahead of Putin's own misinformation. So again, at

197
00:10:36,600 --> 00:10:39,160
Speaker 1: that time, they were worried that Putin would kind of

198
00:10:39,240 --> 00:10:43,000
Speaker 1: orchestrate a false flag incident, that he would you accuse

199
00:10:43,559 --> 00:10:46,640
Speaker 1: NATO or Ukraine of you know, using chemical weapons or

200
00:10:46,679 --> 00:10:48,679
Speaker 1: doing something like this. So they're trying to get out

201
00:10:48,679 --> 00:10:50,880
Speaker 1: ahead of some of the disinformation they thought might be

202
00:10:50,880 --> 00:10:54,040
Speaker 1: coming from the Kremlin. This latest kind of reporting now,

203
00:10:54,160 --> 00:10:56,800
Speaker 1: I think, is again just trying to keep the pressure

204
00:10:56,920 --> 00:11:00,880
Speaker 1: on Russian on Putin in particular. Um, this intelligence from

205
00:11:00,960 --> 00:11:04,640
Speaker 1: yesterday suggesting that Putin is not getting the full picture

206
00:11:04,679 --> 00:11:07,360
Speaker 1: from his military commanders is uh, you know, I think

207
00:11:07,400 --> 00:11:10,760
Speaker 1: something that obviously we're we're watching the intelligence, but also

208
00:11:10,800 --> 00:11:13,560
Speaker 1: most of us watched that press conference before the invasion started.

209
00:11:13,600 --> 00:11:15,760
Speaker 1: Where Putin's advisors had to take it up and pretty

210
00:11:15,800 --> 00:11:17,600
Speaker 1: much tell him exactly what he wanted to hear. So

211
00:11:17,679 --> 00:11:20,040
Speaker 1: I don't think that's super surprising that some of his

212
00:11:20,240 --> 00:11:22,960
Speaker 1: advisors are still probably under that kind of pressure. And

213
00:11:22,960 --> 00:11:26,040
Speaker 1: in our last minute here, Professor, we're expecting President Biden

214
00:11:26,080 --> 00:11:29,320
Speaker 1: to announce this massive release of oil from the Strategic reserve,

215
00:11:29,440 --> 00:11:31,960
Speaker 1: something like a million barrels a day. Is that a

216
00:11:32,000 --> 00:11:34,960
Speaker 1: sign that the war is starting to take a pinch

217
00:11:35,000 --> 00:11:38,240
Speaker 1: on this country? Now? Well, I think we've certainly seen

218
00:11:38,240 --> 00:11:41,560
Speaker 1: the pinch, Nathan. You know, crude is up from this

219
00:11:41,600 --> 00:11:45,400
Speaker 1: time last year, Gases at four for an average of

220
00:11:45,440 --> 00:11:48,160
Speaker 1: Americans right now, so I think we're seeing that pinch.

221
00:11:48,240 --> 00:11:51,079
Speaker 1: Biden has been under pressure from both parties to uh

222
00:11:51,480 --> 00:11:54,400
Speaker 1: to use the Strategic Petroleum Reserve. It's interesting they did

223
00:11:54,440 --> 00:11:57,640
Speaker 1: release about fifty million barrels from the reserve back in November.

224
00:11:58,280 --> 00:12:01,880
Speaker 1: That helps momentarily, but prices obviously went up again. What

225
00:12:01,960 --> 00:12:05,000
Speaker 1: they're talking about now is releasing one million barrels per

226
00:12:05,080 --> 00:12:07,680
Speaker 1: day over several months, so trying to have it be

227
00:12:07,760 --> 00:12:10,400
Speaker 1: more of a slow release as to help with prices.

228
00:12:10,440 --> 00:12:12,640
Speaker 1: So it could help in the short term, but in

229
00:12:12,679 --> 00:12:15,040
Speaker 1: the long term old depend a lot on US demand

230
00:12:15,200 --> 00:12:18,000
Speaker 1: and also how other countries play this, if other members

231
00:12:18,040 --> 00:12:21,760
Speaker 1: of the Internal International Energy Agency like Japan, France, Germany

232
00:12:21,800 --> 00:12:24,120
Speaker 1: do the same, and also what OPEC plus chooses to

233
00:12:24,160 --> 00:12:27,600
Speaker 1: do with their meeting tomorrow. As always, thanks for joining us,

234
00:12:27,640 --> 00:12:30,319
Speaker 1: Julie Norman, Co director of the Center on US Politics

235
00:12:30,640 --> 00:12:33,319
Speaker 1: at University College London. Stay well us, We're gonna get

236
00:12:33,360 --> 00:12:35,880
Speaker 1: much more on the White House oil release plans and

237
00:12:36,080 --> 00:12:38,520
Speaker 1: stocks get ready to close out their worst quarter in

238
00:12:38,559 --> 00:12:41,800
Speaker 1: two years. Because we check your top stories of the

239
00:12:41,880 --> 00:12:49,400
Speaker 1: morning on Bloomberg day Break Bloomberg eleven three oh weather cloudy, breezy,

240
00:12:49,480 --> 00:12:52,439
Speaker 1: some afternoon showers possible. The high your seventy today, you'll

241
00:12:52,480 --> 00:12:55,280
Speaker 1: turn partly sending breezy tomorrow with highs in the upper fifties,

242
00:12:55,520 --> 00:12:58,079
Speaker 1: low fifties, mix of sun and cloud Saturday right now

243
00:12:58,160 --> 00:13:04,400
Speaker 1: forty seven in Central Park, broadcasting live from the Bloomberg

244
00:13:04,440 --> 00:13:08,160
Speaker 1: Interactive Broker Studio in New York. Bloomberg E Living Freedom

245
00:13:08,280 --> 00:13:12,439
Speaker 1: to Washington, d C. Bloomberg to Boston, Bloomberg one O

246
00:13:12,640 --> 00:13:16,120
Speaker 1: six one does San Francisco, Bloomberg nine sixty to the Country,

247
00:13:16,200 --> 00:13:19,240
Speaker 1: Sirius XM tod A one nine team and around the globe,

248
00:13:19,320 --> 00:13:23,320
Speaker 1: the Bloomberg Business and Bloomberg Radio dot Com. This is

249
00:13:23,320 --> 00:13:31,880
Speaker 1: Bloomberg Daybreak and it's five thirty on Wall Street. Good morning.

250
00:13:31,880 --> 00:13:34,880
Speaker 1: I'm Nathan Hagar and I'm Karen Moscow, and we're just

251
00:13:34,960 --> 00:13:37,640
Speaker 1: about four hours away from the open of US trading.

252
00:13:37,720 --> 00:13:39,120
Speaker 1: Let's get you have to date on the news you

253
00:13:39,160 --> 00:13:42,280
Speaker 1: need to know at this hour. Ukraine says cease fire

254
00:13:42,400 --> 00:13:46,840
Speaker 1: talks with Russia could resume tomorrow. This would follow negotiations

255
00:13:46,880 --> 00:13:50,320
Speaker 1: that led to no cease fire but did have Russia

256
00:13:50,440 --> 00:13:54,319
Speaker 1: saying it would de escalate. Pentagon's spokesman John Kirby says

257
00:13:54,480 --> 00:13:57,840
Speaker 1: it's less a de escalation and more like a repositioning.

258
00:13:58,440 --> 00:14:03,560
Speaker 1: Some of those troops we assess a repositioning into Belarus.

259
00:14:04,160 --> 00:14:06,840
Speaker 1: We don't have an exact number for you, but that's

260
00:14:06,840 --> 00:14:10,200
Speaker 1: our early assessments. Uh, none of them, we have seen

261
00:14:10,240 --> 00:14:13,720
Speaker 1: none of them reposition to their home garrison in Pentagon

262
00:14:13,840 --> 00:14:17,080
Speaker 1: spokesman John Kirby says the southern city of Mariopol is

263
00:14:17,120 --> 00:14:19,840
Speaker 1: still taking heavy fire the meantime, Karen, it looks like

264
00:14:19,880 --> 00:14:23,400
Speaker 1: Vladimir Putin may not be getting accurate information on the war.

265
00:14:23,560 --> 00:14:27,440
Speaker 1: Here's White House Communications Director Kate Bettingfield. We believe that

266
00:14:27,440 --> 00:14:30,960
Speaker 1: Putin is being misinformed by his advisors about how badly

267
00:14:31,240 --> 00:14:34,160
Speaker 1: the Russian military is performing and how the Russian economy

268
00:14:34,200 --> 00:14:36,920
Speaker 1: is being crippled by sanctions because the senior advisers are

269
00:14:36,960 --> 00:14:39,120
Speaker 1: too afraid to tell him the truth. Kate Beddingfield that

270
00:14:39,160 --> 00:14:41,520
Speaker 1: the White House did not specify how the US got

271
00:14:41,520 --> 00:14:45,040
Speaker 1: its intelligence on Putin, Well Nathan. Energy prices have climbed

272
00:14:45,040 --> 00:14:47,640
Speaker 1: sharply since the start of the war. Now, the Biden

273
00:14:47,680 --> 00:14:51,720
Speaker 1: administration is weighing a massive release of oil from US reserves,

274
00:14:51,720 --> 00:14:54,440
Speaker 1: and we get the latest live from Bloomberg's Randia Young.

275
00:14:54,480 --> 00:14:57,560
Speaker 1: Good morning, Randina, Good morning Karen. Bloomberg sources say the

276
00:14:57,600 --> 00:15:00,600
Speaker 1: White House is considering releasing about a mill in barrels

277
00:15:00,640 --> 00:15:03,560
Speaker 1: of oil a day from US reserves for several months.

278
00:15:03,920 --> 00:15:06,440
Speaker 1: The total release could be as much as one eighty

279
00:15:06,520 --> 00:15:09,880
Speaker 1: million barrels, and along with the plan comes a diplomatic

280
00:15:09,920 --> 00:15:12,440
Speaker 1: push for the i e A to coordinate a global

281
00:15:12,480 --> 00:15:15,440
Speaker 1: release by other countries. A final decision on that has

282
00:15:15,480 --> 00:15:18,280
Speaker 1: not been reached yet, but Bloomberg sources say the White

283
00:15:18,280 --> 00:15:21,320
Speaker 1: House may make an announcement on the US release as

284
00:15:21,360 --> 00:15:24,040
Speaker 1: soon as today live in New York. I'm gonna need

285
00:15:24,080 --> 00:15:26,320
Speaker 1: a young Bloomberg daybreak. Okay, we need a thanks in

286
00:15:26,400 --> 00:15:28,320
Speaker 1: checking all right now, and I'm ex Screws down five

287
00:15:28,360 --> 00:15:30,240
Speaker 1: and a half percent at a hundred one dollar eighty

288
00:15:30,320 --> 00:15:32,200
Speaker 1: nine cents of barrel. Brent Is at a hundred seven

289
00:15:32,320 --> 00:15:35,280
Speaker 1: sixty eight. That drop is helping lift stock futures, but

290
00:15:35,360 --> 00:15:38,080
Speaker 1: global equities are still on track for their worst quarter

291
00:15:38,120 --> 00:15:41,080
Speaker 1: in two years. Aaron Kennon is CEO at Clear Harbor

292
00:15:41,120 --> 00:15:43,760
Speaker 1: Asset Management. You know, I think we're heading into a

293
00:15:44,240 --> 00:15:48,000
Speaker 1: stormy or weather over the next several weeks and perhaps months,

294
00:15:48,200 --> 00:15:50,520
Speaker 1: and uh, I think investors are to be prepared for that.

295
00:15:50,640 --> 00:15:53,120
Speaker 1: Aaron Kennon a Clear Harbor SAEs higher interest rates as

296
00:15:53,160 --> 00:15:56,720
Speaker 1: a major headwind for stocks and incorporate news. This morning, Nathan,

297
00:15:56,760 --> 00:15:59,359
Speaker 1: we have word of a data breach at Apple and Facebook.

298
00:15:59,360 --> 00:16:02,640
Speaker 1: Bloomberg News has learned that Apple and Meta platforms provided

299
00:16:02,680 --> 00:16:07,360
Speaker 1: customer data to hackers who posed as law enforcement officials.

300
00:16:07,360 --> 00:16:10,280
Speaker 1: Straight ahead, we have your latest local headlines, plus a

301
00:16:10,400 --> 00:16:19,200
Speaker 1: check of sports, and this is Bloomberg Sparing thirty three

302
00:16:19,200 --> 00:16:21,720
Speaker 1: on Wall Street, where forty six degrees in Central Park

303
00:16:21,760 --> 00:16:23,800
Speaker 1: off to a quiet start on the roads. Hope, I

304
00:16:23,800 --> 00:16:25,840
Speaker 1: didn't jink sit you find out from Peter Van in

305
00:16:25,880 --> 00:16:27,760
Speaker 1: a few minutes. First, Michael Bars here with more on

306
00:16:27,840 --> 00:16:29,960
Speaker 1: what's going on in New York and around the world. Michael,

307
00:16:30,040 --> 00:16:32,640
Speaker 1: thank you very much, Nathan. New York City has dismantled

308
00:16:32,640 --> 00:16:36,080
Speaker 1: more than two hundred encampments for homeless people. Mayor Eric

309
00:16:36,120 --> 00:16:38,800
Speaker 1: Adams says the task force over the past two weeks

310
00:16:39,080 --> 00:16:41,640
Speaker 1: is trying to clean up public spaces and connect people

311
00:16:41,680 --> 00:16:45,240
Speaker 1: living on the streets with housing and social services. This

312
00:16:45,400 --> 00:16:51,200
Speaker 1: city is now engaged in a multi agency mission with

313
00:16:51,280 --> 00:16:56,320
Speaker 1: compassion and caring taken out time. Not rushing through this,

314
00:16:56,720 --> 00:17:02,080
Speaker 1: but being compassionate to people who experience send terrible circumstances

315
00:17:02,280 --> 00:17:06,160
Speaker 1: that they're living through. Mayor Adams says anyone removed from

316
00:17:06,160 --> 00:17:09,479
Speaker 1: the encampments was offered avoucher to pick up their items

317
00:17:09,480 --> 00:17:12,880
Speaker 1: at another location. Donald Trump's son in law, Jared Kushner,

318
00:17:12,960 --> 00:17:15,960
Speaker 1: is expected to speak today, but the committee investigating the

319
00:17:16,040 --> 00:17:19,720
Speaker 1: January sixth attack on the Capitol bird flew is spreading

320
00:17:19,720 --> 00:17:22,560
Speaker 1: in the US. According to the Department of Agriculture, the

321
00:17:22,600 --> 00:17:26,639
Speaker 1: deadly strain was discovered in five more states. The states

322
00:17:26,680 --> 00:17:31,920
Speaker 1: involved include Massachusetts, North Dakota, North Carolina, Ohio, and Wyoming.

323
00:17:32,160 --> 00:17:35,159
Speaker 1: Since mid January, it's been found in twenty three states.

324
00:17:35,560 --> 00:17:39,720
Speaker 1: The Motion Picture Academy has initiated disciplinary action against Will

325
00:17:39,760 --> 00:17:42,800
Speaker 1: Smith for slapping Chris Rock on stage at the Oscars.

326
00:17:43,040 --> 00:17:46,160
Speaker 1: Smith could be expelled. Meanwhile, Rock says he is still

327
00:17:46,160 --> 00:17:50,680
Speaker 1: processing what happened last Sunday. The comedian performed before a

328
00:17:50,800 --> 00:17:54,119
Speaker 1: sold out crowd last night in Boston. The Family movie

329
00:17:54,119 --> 00:17:56,720
Speaker 1: star Bruce Willis announced that he will be stepping away

330
00:17:56,760 --> 00:18:00,480
Speaker 1: from his acting career after he was diagnosed with phasia.

331
00:18:00,840 --> 00:18:04,960
Speaker 1: The condition is impacting is speech and cognitive abilities. Dr

332
00:18:05,040 --> 00:18:08,679
Speaker 1: Jagan Poli is a cognitive neurologist at the Cleveland Clinic

333
00:18:08,800 --> 00:18:12,080
Speaker 1: Center for Brain Hilth. Diagnosis of PA is pretty broad

334
00:18:12,119 --> 00:18:15,280
Speaker 1: in the sense that it basically says some a person

335
00:18:15,400 --> 00:18:18,960
Speaker 1: has changes in their language function because it changes going

336
00:18:18,960 --> 00:18:22,439
Speaker 1: on the brain. Dr Polli told ABC ephasia can be

337
00:18:22,520 --> 00:18:27,040
Speaker 1: caused by an injury or degenerative disease. Global News twenty

338
00:18:27,040 --> 00:18:29,560
Speaker 1: four hours a day on air and on Bloomberg quick Take,

339
00:18:29,840 --> 00:18:32,840
Speaker 1: powered by more than twenty seven under journalist and analysts

340
00:18:32,960 --> 00:18:35,200
Speaker 1: in more than a hundred twenty countries. I'm Michael barr

341
00:18:35,240 --> 00:18:43,119
Speaker 1: and this is Bloomberg, Nathan, Michael, thank you five on

342
00:18:43,160 --> 00:18:46,280
Speaker 1: Wall Street. Time for the Bloomberg Sports Update. Here's John Stanshower. Nathan,

343
00:18:46,320 --> 00:18:48,800
Speaker 1: what a difference a year makes year ago? The next minute,

344
00:18:48,880 --> 00:18:51,480
Speaker 1: fourth in the East this season, couldn't crack the top

345
00:18:51,560 --> 00:18:55,240
Speaker 1: ten to get into the play in after home loss

346
00:18:55,240 --> 00:18:57,320
Speaker 1: to Charlotte that ended their season nin four game winning

347
00:18:57,359 --> 00:19:01,040
Speaker 1: speak Nix could be mathematically out as early as tonight.

348
00:19:01,080 --> 00:19:04,840
Speaker 1: There coach Tom Thibodeaux last night channeled Jilgibera, just keep

349
00:19:04,880 --> 00:19:07,760
Speaker 1: concentrating on what we're doing. You know, get better, and

350
00:19:07,800 --> 00:19:10,679
Speaker 1: then you're not eliminated to your eliminated, and then when

351
00:19:10,720 --> 00:19:14,640
Speaker 1: you are, you know what you want to get dump

352
00:19:14,800 --> 00:19:17,080
Speaker 1: Rangers are getting ready for the Stanley Cup. Last they

353
00:19:17,080 --> 00:19:18,760
Speaker 1: won their fourth and road type game in Detroit. It

354
00:19:18,840 --> 00:19:20,960
Speaker 1: was tied at one to three, and then after Chris

355
00:19:21,040 --> 00:19:24,000
Speaker 1: Cryder power play goal with less than four minutes to go,

356
00:19:24,160 --> 00:19:26,680
Speaker 1: Crider's forty six goals season, he gave US tide at four.

357
00:19:26,760 --> 00:19:30,000
Speaker 1: The Rangers won five four on an Andrew cop goal minute.

358
00:19:30,000 --> 00:19:32,520
Speaker 1: It happened over time, the only way the US men's

359
00:19:32,600 --> 00:19:35,040
Speaker 1: national soccer team was not going to qualify for the

360
00:19:35,040 --> 00:19:37,120
Speaker 1: World Cup was if they had lost in coastal Rico

361
00:19:37,240 --> 00:19:39,679
Speaker 1: by six goals. They lost but only to nothing, so

362
00:19:40,320 --> 00:19:43,320
Speaker 1: US heading the Qatar in November. The US failed to

363
00:19:43,400 --> 00:19:46,000
Speaker 1: qualify for the World Cup four years ago. Amazing to

364
00:19:46,080 --> 00:19:48,480
Speaker 1: think that in the historically long career of Tom Brady,

365
00:19:48,480 --> 00:19:50,639
Speaker 1: he's only played for two coaches. He's now getting the

366
00:19:50,720 --> 00:19:53,800
Speaker 1: third surprise move out of Tampa Bay. Sixty nine year

367
00:19:53,800 --> 00:19:56,520
Speaker 1: old Bruce Arian stepping down. He'll stay with the Buffs

368
00:19:56,520 --> 00:19:58,919
Speaker 1: but work in the front office. He'll be replaced by

369
00:19:59,040 --> 00:20:02,400
Speaker 1: defensive or Todd Bowles, the former head coach of the Jets.

370
00:20:02,520 --> 00:20:05,119
Speaker 1: So ten NFL teams will have a new coach next season.

371
00:20:05,440 --> 00:20:07,960
Speaker 1: To the surprise of No. One, Seaton Hall names he

372
00:20:08,000 --> 00:20:10,919
Speaker 1: and Holloway. It's new coach. Former star point guard former

373
00:20:10,920 --> 00:20:14,200
Speaker 1: Seaton Hall assisted down the road at St. Peter Hollowegen

374
00:20:14,240 --> 00:20:16,440
Speaker 1: has took the Peats to the n c A O.

375
00:20:16,800 --> 00:20:20,000
Speaker 1: Kate John Station went Bloomberg Sports Nathan Okay. John thanks

376
00:20:20,320 --> 00:20:22,480
Speaker 1: thirty seven on Wall Street time for the Tri State

377
00:20:22,480 --> 00:20:26,240
Speaker 1: Business Report. Here's Bloomberg's head cory. Blocks of empty offices

378
00:20:26,280 --> 00:20:29,240
Speaker 1: in the financial district helped push the supply of available

379
00:20:29,320 --> 00:20:33,320
Speaker 1: space in Manhattan to another record high. The office availability

380
00:20:33,400 --> 00:20:36,840
Speaker 1: rate in New York hit in the first quarter, the

381
00:20:36,880 --> 00:20:39,639
Speaker 1: highest and data going back to two thousand. According to

382
00:20:39,680 --> 00:20:43,600
Speaker 1: a report this week by Seville's Research, State lawmakers are

383
00:20:43,600 --> 00:20:45,960
Speaker 1: weighing whether the fast track and moved to allow three

384
00:20:46,000 --> 00:20:48,920
Speaker 1: new casinos in the New York City area. It's part

385
00:20:48,920 --> 00:20:52,960
Speaker 1: of this year's budget negotiations. The Times reports seven gambling

386
00:20:53,000 --> 00:20:56,119
Speaker 1: companies are spending about three hundred bucks a month on

387
00:20:56,160 --> 00:20:58,800
Speaker 1: a lobbying blitz to push the state the fast track

388
00:20:58,920 --> 00:21:03,479
Speaker 1: the timetable for New York's final three casino licenses. Bird

389
00:21:03,760 --> 00:21:06,679
Speaker 1: Global says it's received approval to double the size of

390
00:21:06,680 --> 00:21:09,240
Speaker 1: a shared East scooter fleet in New York City. It

391
00:21:09,320 --> 00:21:12,160
Speaker 1: says daily average ridership of East scooters in New York

392
00:21:12,200 --> 00:21:16,000
Speaker 1: has increased by about seventy percent in March compared to February.

393
00:21:16,280 --> 00:21:19,439
Speaker 1: That your Bloomberg Try State Business Report. I'm Ed Corey.

394
00:21:19,600 --> 00:21:21,800
Speaker 1: Thanks that it's five thirty eight on Wall Street. Bloomberg

395
00:21:21,840 --> 00:21:24,040
Speaker 1: Radio is on the air from San Francisco to New York,

396
00:21:24,080 --> 00:21:26,520
Speaker 1: London to Hong Kong. Let's check in with our global

397
00:21:26,520 --> 00:21:28,320
Speaker 1: news team for some of the top stories heard on

398
00:21:28,359 --> 00:21:34,720
Speaker 1: our three hundred affiliate radio stations around the world. I'm

399
00:21:34,760 --> 00:21:37,920
Speaker 1: Steve Podascan on ten ten Wins in New York. We're

400
00:21:37,960 --> 00:21:40,760
Speaker 1: talking about the growing number of companies jumping onto the

401
00:21:40,920 --> 00:21:45,480
Speaker 1: subscription bandwagon. Um Corney's Anaho on ktr H in Houston.

402
00:21:45,600 --> 00:21:48,880
Speaker 1: American business has just had its most profitable year since

403
00:21:49,040 --> 00:21:52,560
Speaker 1: nineteen On Gina Servetti and for Whammle of an eight

404
00:21:52,720 --> 00:21:56,480
Speaker 1: in Rochester, New York. I'm reporting that paychecks chairs rang

405
00:21:56,560 --> 00:22:00,480
Speaker 1: up gains after delivering a forecast that impressed analysts. I'm

406
00:22:00,520 --> 00:22:03,320
Speaker 1: Caroline Headcolled bloom Bag dav Digital Radio in London. We're

407
00:22:03,320 --> 00:22:06,080
Speaker 1: reporting on the UK economy growing one point three percent

408
00:22:06,160 --> 00:22:08,480
Speaker 1: in the FOD quarter. Britain is now in the middle

409
00:22:08,560 --> 00:22:12,320
Speaker 1: of the G seven countries for economic performance. I made

410
00:22:12,400 --> 00:22:15,840
Speaker 1: Cory on w w J and Detroit. I'm reporting hundreds

411
00:22:15,880 --> 00:22:18,560
Speaker 1: of workers at the Kellogg's plant that makes cheese. It's

412
00:22:18,600 --> 00:22:21,480
Speaker 1: we're getting a raid mmm. Those are some of the

413
00:22:21,480 --> 00:22:24,520
Speaker 1: stories our twenty seven hundred Bloomberg journalists and analysts working

414
00:22:24,560 --> 00:22:26,680
Speaker 1: on this morning around the world. It's five thirty nine

415
00:22:26,720 --> 00:22:30,880
Speaker 1: on Wall Street. The following is an editorial from Bloomberg Opinion.

416
00:22:31,240 --> 00:22:36,159
Speaker 1: This editorial was written by the Bloomberg Editorial Board. Headlines

417
00:22:36,200 --> 00:22:40,520
Speaker 1: about Russia's use of hypersonic missiles in Ukraine have fueled

418
00:22:40,560 --> 00:22:43,840
Speaker 1: fears that the US is falling behind its rivals in

419
00:22:43,960 --> 00:22:48,399
Speaker 1: developing such weapons. But before pouring tens of billions of

420
00:22:48,440 --> 00:22:51,600
Speaker 1: dollars into a new arms race, the Pentagon needs to

421
00:22:51,720 --> 00:22:56,399
Speaker 1: carefully assess how hypersonics would help meet its strategic goals.

422
00:22:56,760 --> 00:22:59,960
Speaker 1: It could be cheaper and more effective to simply up

423
00:23:00,040 --> 00:23:04,320
Speaker 1: grade existing missiles. What's more, US leaders should not lose

424
00:23:04,359 --> 00:23:09,960
Speaker 1: sight of how destabilizing hypersonic weapons could become. While hypersonic

425
00:23:10,040 --> 00:23:13,160
Speaker 1: arms control agreements are hard to imagine right now, they

426
00:23:13,240 --> 00:23:17,239
Speaker 1: may become necessary in the future. Pentagon planners are, of

427
00:23:17,280 --> 00:23:21,920
Speaker 1: course right to carefully monitor the threat posed by hypersonics.

428
00:23:21,960 --> 00:23:26,600
Speaker 1: The key is to avoid a costly overreaction. For sight

429
00:23:26,720 --> 00:23:30,080
Speaker 1: and sensible investment will serve the US better than an

430
00:23:30,119 --> 00:23:34,080
Speaker 1: unfettered new arms race would. The seditorial was written by

431
00:23:34,119 --> 00:23:37,479
Speaker 1: the Bloomberg Editorial Board. For more Bloomberg opinion, please go

432
00:23:37,520 --> 00:23:40,560
Speaker 1: to Bloomberg dot com, slash opinion or O P I

433
00:23:40,800 --> 00:23:45,040
Speaker 1: N go on the Bloomberg terminal. This has been Bloomberg opinion.

434
00:23:45,240 --> 00:23:48,400
Speaker 1: You can hear Bloomberg opinion editorials every weekday. At this time,

435
00:23:48,520 --> 00:23:51,320
Speaker 1: terminal customers can read more at op I n Go.

436
00:23:52,000 --> 00:23:56,359
Speaker 1: Futures starting to turn up just a bit. Stay with us,

437
00:23:56,480 --> 00:24:04,359
Speaker 1: you're listening to Bloomberg Tame Bloomber eleven three oh weather cloudy, breezy,

438
00:24:04,440 --> 00:24:07,240
Speaker 1: some afternoon showers likely. We'll get up to near seventy degrees,

439
00:24:07,680 --> 00:24:10,879
Speaker 1: upper fifties, partly sunny and breezy Tomorrow mixes sun and clouds,

440
00:24:10,960 --> 00:24:14,360
Speaker 1: low fifties for Saturday. Right now forty seven in Central

441
00:24:14,359 --> 00:24:20,320
Speaker 1: Park Markets. Headlines and breaking news twenty four hours a

442
00:24:20,400 --> 00:24:23,720
Speaker 1: day at Bloomberg dot Com, at Bloomberg Business Atland, at

443
00:24:23,720 --> 00:24:33,240
Speaker 1: Bloomberg Quick Tape. This is a Bloomberg business lash and

444
00:24:33,320 --> 00:24:36,560
Speaker 1: I'm camera and Moscow energy stocks dropping with oil prices

445
00:24:36,560 --> 00:24:39,240
Speaker 1: as investors, we were ports at the Biden administration is

446
00:24:39,280 --> 00:24:42,679
Speaker 1: considering a massive release of crude from US reserves to

447
00:24:42,720 --> 00:24:45,240
Speaker 1: fight inflation. Stocks in Europe are set for the first

448
00:24:45,320 --> 00:24:49,639
Speaker 1: quarterly decline since shares ambiguous energy companies are declining in

449
00:24:49,720 --> 00:24:52,440
Speaker 1: pre market trading, while U S Dock index futures are

450
00:24:52,520 --> 00:24:55,679
Speaker 1: mostly advancing. We checked the markets every fifteen minutes throughout

451
00:24:55,680 --> 00:24:58,400
Speaker 1: the trading day on Bloomberg right now, isn't p futures

452
00:24:58,400 --> 00:25:01,520
Speaker 1: are up about seven points DAL futures that will change

453
00:25:01,560 --> 00:25:04,359
Speaker 1: now ASDACK future is up sixty seven. The decks in

454
00:25:04,400 --> 00:25:07,520
Speaker 1: Germany is little changed as well. Ten your treasury up

455
00:25:07,520 --> 00:25:09,879
Speaker 1: five thirty seconds, you'll two point three three percent in

456
00:25:09,920 --> 00:25:12,240
Speaker 1: the yield on a two year two point to eight percent.

457
00:25:12,680 --> 00:25:15,359
Speaker 1: Nine X Screwed oil is down five point three percent

458
00:25:15,440 --> 00:25:17,600
Speaker 1: on five dollars sixty eight cents and a hundred two

459
00:25:17,600 --> 00:25:20,560
Speaker 1: dollars eighteen cents of barrel comics. Gold is down half

460
00:25:20,560 --> 00:25:23,480
Speaker 1: percent or ten dollars fifty cents. In ninety eight fifty

461
00:25:23,520 --> 00:25:26,800
Speaker 1: announced the euro one point one one o nine against

462
00:25:26,800 --> 00:25:29,080
Speaker 1: the dollar, British found one point three one one four

463
00:25:29,400 --> 00:25:31,640
Speaker 1: and the YenS a one to two point oh four.

464
00:25:31,960 --> 00:25:35,160
Speaker 1: And Bitcoin this morning lower at forty seven thousand, two

465
00:25:35,240 --> 00:25:37,880
Speaker 1: hundred dollars, down about two tenths of five percent. That's

466
00:25:37,880 --> 00:25:40,520
Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more

467
00:25:40,560 --> 00:25:43,640
Speaker 1: on what's going on around the world. Michael Karen, thank

468
00:25:43,680 --> 00:25:46,320
Speaker 1: you very much. The White House says Russian President Vladimir

469
00:25:46,400 --> 00:25:50,480
Speaker 1: Putin has been misinformed by advisors about his military's performance

470
00:25:50,480 --> 00:25:54,440
Speaker 1: in Ukraine. Meanwhile, Britain's Defense Ministry says Russia continues to

471
00:25:54,480 --> 00:25:58,080
Speaker 1: pound northern Ukraine. The chairman of the House committee investigating

472
00:25:58,080 --> 00:26:00,840
Speaker 1: the January sixth attack on the U s Appitol said

473
00:26:00,920 --> 00:26:04,720
Speaker 1: the panel is considering subpoena ng former President Donald Trump's

474
00:26:04,960 --> 00:26:08,320
Speaker 1: personal phone records. In the NBA, the next Celtics and

475
00:26:08,359 --> 00:26:13,000
Speaker 1: Warriors lost. The Wizards won. College basketball coach Sheen Holloway

476
00:26:13,119 --> 00:26:16,800
Speaker 1: is leaving records setting St. Peter's for Seaton Hall. In

477
00:26:16,840 --> 00:26:18,720
Speaker 1: the NHL, the Rangers beat the Red Wings and O

478
00:26:19,119 --> 00:26:22,399
Speaker 1: five four. NFL head coach Bruce Arians has decided to

479
00:26:22,400 --> 00:26:24,960
Speaker 1: retire and is moving into the Buccaneers for an office.

480
00:26:25,160 --> 00:26:28,680
Speaker 1: He's being replaced by defensive coordinator Todd Bowles, the former

481
00:26:28,760 --> 00:26:31,440
Speaker 1: head coach with the Jets. Global News twenty four hours

482
00:26:31,440 --> 00:26:34,160
Speaker 1: a day on air and on Bloomberg quick Take, powered

483
00:26:34,160 --> 00:26:37,480
Speaker 1: by more than twenty journalists analysts in more than a

484
00:26:37,520 --> 00:26:40,119
Speaker 1: hundred twenty countries and Michael Barr. This is Bloomberg NA.

485
00:26:40,440 --> 00:26:43,919
Speaker 1: Thanks Michael on Wall Street line from the Bloomberg intractor

486
00:26:43,960 --> 00:26:47,119
Speaker 1: Brooker Studios. This is Bloomberg Daybreak, and as Karen mentioned,

487
00:26:47,119 --> 00:26:48,680
Speaker 1: we are getting ready to close the books on the

488
00:26:48,720 --> 00:26:53,000
Speaker 1: first quarterly declined for stocks in two years. So what's

489
00:26:53,080 --> 00:26:55,879
Speaker 1: the rest of this year having store? With war inflation

490
00:26:55,920 --> 00:26:58,840
Speaker 1: and a tighter fed in the foreground. Let's get insights

491
00:26:58,840 --> 00:27:02,159
Speaker 1: now from Jeff Mortimer, director of investment strategy at b

492
00:27:02,320 --> 00:27:05,560
Speaker 1: n y Melon Wealth Management. Jeffrey, you're looking forward to

493
00:27:05,560 --> 00:27:09,520
Speaker 1: closing the books on this one. I guess you could

494
00:27:09,520 --> 00:27:13,359
Speaker 1: say that, right. Markets unfortunately don't move in a straight line.

495
00:27:13,920 --> 00:27:17,199
Speaker 1: And uh, you know, last year I remind investors, I was,

496
00:27:17,280 --> 00:27:20,280
Speaker 1: I hosted a dinner last night, and it's nice to

497
00:27:20,280 --> 00:27:22,280
Speaker 1: be out on the road again. But you know, we're

498
00:27:22,359 --> 00:27:26,320
Speaker 1: up on the SMP sometimes. You know, markets don't think

499
00:27:26,320 --> 00:27:30,400
Speaker 1: in calendar years or quarters. Um. But certainly there has

500
00:27:30,440 --> 00:27:33,600
Speaker 1: been some major changes. You know, I am impressed with

501
00:27:33,640 --> 00:27:36,600
Speaker 1: the markets resiliency in spite of sort of all that

502
00:27:36,680 --> 00:27:39,200
Speaker 1: has gone on. You know, if we do close the books,

503
00:27:39,240 --> 00:27:42,119
Speaker 1: you know, down rough numbers among friends, you know, five

504
00:27:42,160 --> 00:27:46,280
Speaker 1: percent or so. Um quite Uh, you know, I give

505
00:27:46,320 --> 00:27:50,200
Speaker 1: the market credit for its resilience. Certainly, diversification hasn't helped.

506
00:27:50,240 --> 00:27:52,280
Speaker 1: That's been one of the pain points of the quarter.

507
00:27:52,920 --> 00:27:55,520
Speaker 1: Or bonds typically move up when stocks have moved down.

508
00:27:55,600 --> 00:27:59,240
Speaker 1: Historically most of the time, UM, that hasn't happened this quarter.

509
00:28:00,040 --> 00:28:04,520
Speaker 1: Do you expect that resiliency to continue when we're facing

510
00:28:04,520 --> 00:28:09,080
Speaker 1: a tighter FED and some talk of maybe fifty basis

511
00:28:09,119 --> 00:28:12,240
Speaker 1: point moves at the next meeting, even more fifty basis

512
00:28:12,240 --> 00:28:14,280
Speaker 1: point moves. You've heard talk of that as well in

513
00:28:14,400 --> 00:28:18,680
Speaker 1: subsequent meetings. Yeah, we have in our base forecast now

514
00:28:19,200 --> 00:28:23,719
Speaker 1: uh to uh to the next FED meetings will be

515
00:28:23,880 --> 00:28:28,359
Speaker 1: fifty basis points of peace. So if we are projecting that,

516
00:28:28,440 --> 00:28:31,600
Speaker 1: I always remind investors the market is projecting that too.

517
00:28:32,200 --> 00:28:35,120
Speaker 1: I want to, you know, remind investors the market prices

518
00:28:35,160 --> 00:28:37,600
Speaker 1: in the most likely outcomes. It's doing that on a

519
00:28:37,640 --> 00:28:41,560
Speaker 1: regular basis. And so a tighter FED, you know, I

520
00:28:41,600 --> 00:28:44,760
Speaker 1: think is becoming priced into markets. I think we're gonna

521
00:28:44,760 --> 00:28:46,480
Speaker 1: have to look out the yield curve and see what

522
00:28:46,560 --> 00:28:49,480
Speaker 1: happens to to ten spreads. You're gonna have to look

523
00:28:49,480 --> 00:28:51,800
Speaker 1: at inversion of curves. You're gonna have to look at

524
00:28:51,840 --> 00:28:55,400
Speaker 1: sort of what messages of the bond market maybe sending,

525
00:28:55,760 --> 00:28:58,600
Speaker 1: which might be you know, slower growth going forward, so

526
00:28:58,680 --> 00:29:01,440
Speaker 1: you might see the stock market kind of rotate into

527
00:29:01,960 --> 00:29:05,760
Speaker 1: companies that can grow in a slower growth economy. I mean,

528
00:29:05,800 --> 00:29:08,680
Speaker 1: I think that is a is a potential as the

529
00:29:08,840 --> 00:29:11,240
Speaker 1: as the year sort of plays out. Also in a

530
00:29:11,280 --> 00:29:13,760
Speaker 1: midterm election year, this tends to be the weakest. The

531
00:29:13,880 --> 00:29:17,880
Speaker 1: year of a four year presidential cycle anyway, intends to

532
00:29:17,920 --> 00:29:21,560
Speaker 1: be back end loaded the uncertainty of the election, you know,

533
00:29:21,640 --> 00:29:24,280
Speaker 1: as also in overhang to markets, although I think they're

534
00:29:24,280 --> 00:29:26,880
Speaker 1: beginning to price in how that may end as well.

535
00:29:27,000 --> 00:29:29,120
Speaker 1: So I think you know you have to bunckle up that.

536
00:29:29,160 --> 00:29:33,360
Speaker 1: Our our advice to clients to stay at your target allocation.

537
00:29:34,000 --> 00:29:36,560
Speaker 1: We are not defensive on behalf of our clients. We

538
00:29:36,640 --> 00:29:39,480
Speaker 1: are if you're sixty forty or fifty fifty from an

539
00:29:39,480 --> 00:29:42,720
Speaker 1: allocation standpoint, we want you at that target, and we

540
00:29:42,800 --> 00:29:46,920
Speaker 1: want you using weakness. If if you're underneath that target,

541
00:29:46,960 --> 00:29:49,080
Speaker 1: you should be using weakness to make sure that you

542
00:29:49,120 --> 00:29:51,080
Speaker 1: treat yourself up to that target. I think as you

543
00:29:51,120 --> 00:29:55,520
Speaker 1: get into late two and into twenty three, it's possible

544
00:29:55,560 --> 00:29:59,640
Speaker 1: that you're in a lower inflationary environment. Naturally both sort

545
00:29:59,640 --> 00:30:02,240
Speaker 1: of what of feed because of what the FET has done,

546
00:30:02,520 --> 00:30:05,720
Speaker 1: and perhaps supply chains get better, perhaps O Macron or

547
00:30:05,720 --> 00:30:08,520
Speaker 1: COVID nine King gets sort of put continues to get

548
00:30:08,520 --> 00:30:11,000
Speaker 1: put behind us, and you might see yourself in a

549
00:30:11,080 --> 00:30:15,000
Speaker 1: world in which you have low inflation, decent growth, FED

550
00:30:15,040 --> 00:30:18,000
Speaker 1: which has most of its work behind it, and decent

551
00:30:18,080 --> 00:30:21,000
Speaker 1: valuations and stocks. We still think earnings sort of hold

552
00:30:21,040 --> 00:30:25,480
Speaker 1: tight this year around twenty on the SMP, and again

553
00:30:25,560 --> 00:30:27,880
Speaker 1: multiples may contract a bit, But as long as that

554
00:30:28,000 --> 00:30:30,600
Speaker 1: those earnings sort of sit underneath markets, I think we

555
00:30:30,600 --> 00:30:32,880
Speaker 1: should still be in a pretty good place, you know,

556
00:30:32,960 --> 00:30:36,000
Speaker 1: as we look out six twelve or eighteen months. All

557
00:30:36,040 --> 00:30:38,440
Speaker 1: that said, in our last thirty seconds here, Jeff, what's

558
00:30:38,480 --> 00:30:40,360
Speaker 1: your target for the SMP at the end of the year.

559
00:30:41,800 --> 00:30:44,560
Speaker 1: So our target is is right about where we are today.

560
00:30:44,840 --> 00:30:46,840
Speaker 1: I mean that the rally of the past you know,

561
00:30:47,000 --> 00:30:50,480
Speaker 1: three or four weeks has been impressive. Our target is

562
00:30:50,520 --> 00:30:54,880
Speaker 1: between forty three and undred for the SMPI year end,

563
00:30:55,240 --> 00:30:56,920
Speaker 1: and then we'll probably take it up, you know, another

564
00:30:56,960 --> 00:30:59,160
Speaker 1: ten percent into next year if sort of what we

565
00:30:59,280 --> 00:31:02,760
Speaker 1: see um as we've talked about earlier, sort of plays out,

566
00:31:03,160 --> 00:31:05,320
Speaker 1: and we are looking for the SMP to open the

567
00:31:05,360 --> 00:31:09,120
Speaker 1: final day of this first quarter at oh two. Jeff,

568
00:31:09,240 --> 00:31:12,360
Speaker 1: thanks for this really appreciated dear insights this morning. Jeff Mortimer,

569
00:31:12,640 --> 00:31:16,120
Speaker 1: director of Investment Strategy at b n Y melon Wealth Management,

570
00:31:16,280 --> 00:31:19,200
Speaker 1: Karen Nathan. It is five three on Wall Street. It's

571
00:31:19,240 --> 00:31:21,400
Speaker 1: time for the Bloomberg Law Report, and we get to

572
00:31:21,400 --> 00:31:24,920
Speaker 1: the legal stories we're watching this morning. From Bloomberg's Jeff Villinger.

573
00:31:27,800 --> 00:31:30,920
Speaker 1: A federal judge in Texas ordered track Cell Technologies to

574
00:31:31,040 --> 00:31:35,040
Speaker 1: reimburse Sprint and Verizon for attorneys fees after track Cell

575
00:31:35,160 --> 00:31:39,000
Speaker 1: pursued meritist patent suits against the wireless companies. Employers in

576
00:31:39,080 --> 00:31:41,720
Speaker 1: Washington State will have to include a salary or pay

577
00:31:41,840 --> 00:31:44,200
Speaker 1: range in their help Wanted ads under a new state

578
00:31:44,280 --> 00:31:48,280
Speaker 1: law aimed at increasing pay transparency to prevent discrimination. A

579
00:31:48,360 --> 00:31:52,400
Speaker 1: Planned Parenthood affiliate is challenging Idaho's new anti abortion law,

580
00:31:52,480 --> 00:31:56,320
Speaker 1: which prohibits abortions after cardiac activity is detected. The suit

581
00:31:56,440 --> 00:32:00,680
Speaker 1: says the law violates the state constitution. Bloomberg Law everything

582
00:32:00,720 --> 00:32:04,840
Speaker 1: you need, all on one legal research platform, including guidance

583
00:32:04,880 --> 00:32:09,200
Speaker 1: analysis and Bloomberg Market Intelligence. Find out more at Bloomberg

584
00:32:09,280 --> 00:32:12,200
Speaker 1: Law dot com. All right, Jack, thank you now. Another

585
00:32:12,280 --> 00:32:15,200
Speaker 1: legal story we're watching brings us at the planned kidnapping

586
00:32:15,320 --> 00:32:20,320
Speaker 1: of Michigan Governor Gretchen whitmer In. After thirteen days of trial,

587
00:32:20,400 --> 00:32:23,840
Speaker 1: prosecutors rested their case yesterday against the four men charged

588
00:32:23,840 --> 00:32:27,560
Speaker 1: in the matter, but more attention was focused outside the courtroom,

589
00:32:27,600 --> 00:32:30,720
Speaker 1: where the FBI rated a home in suburban Detroit in

590
00:32:30,840 --> 00:32:34,280
Speaker 1: response to threats made against the judge and defense attorneys

591
00:32:34,280 --> 00:32:37,560
Speaker 1: in the case. Data show federal judges where the target

592
00:32:37,560 --> 00:32:41,040
Speaker 1: of more than forty five hundred threats and inappropriate communications

593
00:32:41,120 --> 00:32:43,920
Speaker 1: last year. For more in the matter, Bloomberry student Grosso

594
00:32:43,960 --> 00:32:47,240
Speaker 1: speaks to Matthew Schneider, former United States Attorney for the

595
00:32:47,240 --> 00:32:50,480
Speaker 1: Eastern District of Michigan and now a partner at Huntinggman.

596
00:32:51,000 --> 00:32:53,880
Speaker 1: Online threats were made to the judge and two of

597
00:32:53,920 --> 00:32:58,960
Speaker 1: the defense attorneys. The FBI conducted a raid in suburban Detroit,

598
00:32:59,120 --> 00:33:02,240
Speaker 1: but no one was a rested. How unusual are these

599
00:33:02,360 --> 00:33:06,640
Speaker 1: kinds of threats in the middle of a trial, Well, unfortunately,

600
00:33:06,720 --> 00:33:09,640
Speaker 1: it's not all that unusual. In the middle of any

601
00:33:09,680 --> 00:33:13,120
Speaker 1: type of criminal trial that's high profile. You'll have threats

602
00:33:13,160 --> 00:33:15,400
Speaker 1: to the parties involved. And here's the judge and the

603
00:33:15,400 --> 00:33:18,800
Speaker 1: defense attorneys. And the key I think is whether or

604
00:33:18,840 --> 00:33:21,440
Speaker 1: not the jury finds out about this. And it's not

605
00:33:21,520 --> 00:33:23,960
Speaker 1: really relevant to the trial, to the case at hand,

606
00:33:24,320 --> 00:33:27,760
Speaker 1: so most likely the jury will never know that in

607
00:33:27,800 --> 00:33:29,880
Speaker 1: the middle of the trial, there were threats made. But

608
00:33:30,240 --> 00:33:32,719
Speaker 1: you know, in our day and age, more and more

609
00:33:33,160 --> 00:33:37,440
Speaker 1: is happening that that defendants and prosecutors and judges are

610
00:33:37,520 --> 00:33:40,440
Speaker 1: indeed being threatened. It's kind of a sad commentary on

611
00:33:40,520 --> 00:33:44,800
Speaker 1: our society. Oftentimes you hear about prosecutors being threatened rather

612
00:33:44,880 --> 00:33:49,719
Speaker 1: than defense attorneys. Do prosecutors have protection a certain amount?

613
00:33:49,880 --> 00:33:52,080
Speaker 1: When I was a prosecutor, I carried a gun and

614
00:33:52,160 --> 00:33:54,480
Speaker 1: I was a deputy U. S. Marshal at the same time,

615
00:33:54,520 --> 00:33:58,080
Speaker 1: I was deputized because of threats, And that happens because

616
00:33:58,120 --> 00:34:01,480
Speaker 1: so many people just take man is into their own hands.

617
00:34:01,480 --> 00:34:05,360
Speaker 1: But both prosecutors and defense attorneys are always targets, and

618
00:34:05,440 --> 00:34:09,440
Speaker 1: sometimes for different reasons. The prosecution might be targeted because

619
00:34:09,560 --> 00:34:12,520
Speaker 1: the defendants or whoever else does look like what they're doing.

620
00:34:12,760 --> 00:34:16,200
Speaker 1: But then the defense attorneys themselves can be targets because

621
00:34:16,239 --> 00:34:19,200
Speaker 1: people might not like the way they're approaching the case

622
00:34:19,320 --> 00:34:21,319
Speaker 1: or they think they're not doing a good enough job.

623
00:34:21,520 --> 00:34:24,800
Speaker 1: So either way, there can be threats. And the judge

624
00:34:24,840 --> 00:34:29,160
Speaker 1: in this case has been careful about security. He's keeping

625
00:34:29,200 --> 00:34:32,520
Speaker 1: the jurors name secrets. So do you think that's because

626
00:34:32,560 --> 00:34:35,720
Speaker 1: of the nature of the case. Yes, and you often

627
00:34:35,760 --> 00:34:39,399
Speaker 1: see that in very high profile maskia cases or mob

628
00:34:39,520 --> 00:34:42,600
Speaker 1: cases or cases with a lot of violence to keep

629
00:34:42,680 --> 00:34:45,200
Speaker 1: the jurors out of it. So that that protects the

630
00:34:45,280 --> 00:34:47,960
Speaker 1: jurors and it makes them feel better and more comfortable

631
00:34:48,080 --> 00:34:51,160
Speaker 1: in actually doing the deliberation. And as former U S

632
00:34:51,200 --> 00:34:54,680
Speaker 1: attorney Matthew Schneider speaking of the Bloomberg Student Grosso, catch

633
00:34:54,719 --> 00:34:57,600
Speaker 1: more that interview plus analysis of the latest legal news

634
00:34:57,800 --> 00:35:00,640
Speaker 1: by listening to the Bloomberg Law Show attend m Eastern

635
00:35:00,680 --> 00:35:04,040
Speaker 1: Time or subscribing to the Bloomberg Law Podcast, and attorneys

636
00:35:04,040 --> 00:35:06,840
Speaker 1: can find exception only go research and business development tools

637
00:35:06,880 --> 00:35:10,680
Speaker 1: at Bloomberg Law dot com. And again, futures this morning,

638
00:35:10,880 --> 00:35:13,480
Speaker 1: S and P futures are higher, up seven points. And

639
00:35:13,520 --> 00:35:16,799
Speaker 1: we're watching crude oil this morning as it falls down

640
00:35:16,880 --> 00:35:20,440
Speaker 1: five point nine percent at a hundred one dollar forty

641
00:35:20,560 --> 00:35:25,239
Speaker 1: seven cents a barrel, and Bloomberg Daybreak continues. This is

642
00:35:25,280 --> 00:35:25,880
Speaker 1: Bloomberg