1 00:00:03,880 --> 00:00:07,039 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:07,120 --> 00:00:10,600 Speaker 1: Daybreak for Monday, March seven two. Coming up this hour, 3 00:00:10,840 --> 00:00:13,960 Speaker 1: equities tumble as stock markets from Europe to Asia head 4 00:00:14,000 --> 00:00:16,759 Speaker 1: for bear markets. Oil sewers on the prospect of a 5 00:00:16,880 --> 00:00:20,280 Speaker 1: US ban on Russian supplies. Gold rallies to top two 6 00:00:20,360 --> 00:00:23,200 Speaker 1: thousand dollars announce, and more companies join the effort to 7 00:00:23,239 --> 00:00:26,720 Speaker 1: cut ties with Russia. Former New York Governor Cuomo is 8 00:00:26,800 --> 00:00:30,560 Speaker 1: hinting at a political combats. Vice President Harrison marks the 9 00:00:30,560 --> 00:00:34,120 Speaker 1: Bloody Sunday Anniversary in Selma. I'm Michael barn More ahead, 10 00:00:34,720 --> 00:00:37,120 Speaker 1: I'm John Stas Sharon Sports rare wind for the next 11 00:00:37,159 --> 00:00:39,400 Speaker 1: They beat the Clippers in l A, the Nets lost 12 00:00:39,440 --> 00:00:45,040 Speaker 1: in Boston, the Rangers one in Winnipeg. That's all straight 13 00:00:45,040 --> 00:00:49,240 Speaker 1: ahead on Bloomberg day Break on Bloomberg Element Trio, New York, 14 00:00:49,400 --> 00:00:54,120 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 15 00:00:54,280 --> 00:00:58,760 Speaker 1: Bloomberg nine sixty, San Francisco, Sirius x M one nineteen 16 00:00:59,160 --> 00:01:01,880 Speaker 1: and around the world. Old on Bloomberg Radio dot Com 17 00:01:02,000 --> 00:01:08,320 Speaker 1: and via The Bloomberg Business or Good Morning. I'm Nathan 18 00:01:08,360 --> 00:01:11,959 Speaker 1: Hagar and I'm Karen. Moscow and global stocks tumbling again 19 00:01:12,040 --> 00:01:13,800 Speaker 1: to start the week. We're coming up to six o 20 00:01:13,920 --> 00:01:15,640 Speaker 1: one on All Street, and we check the markets every 21 00:01:15,640 --> 00:01:18,919 Speaker 1: fifteen minutes throughout the trading day. On Bloomberg SMP future 22 00:01:18,959 --> 00:01:21,480 Speaker 1: is down seventy four points now Future is down to 23 00:01:21,520 --> 00:01:25,080 Speaker 1: five fifty four and Nashtag futures down two hundred forty three. 24 00:01:25,520 --> 00:01:28,000 Speaker 1: Tenure Treasury up one thirty second. He had one point 25 00:01:28,000 --> 00:01:29,880 Speaker 1: seven two per cent and they yield on the two 26 00:01:30,000 --> 00:01:33,479 Speaker 1: year one point four seven percent. Nathan, all right, Karen, 27 00:01:33,480 --> 00:01:35,080 Speaker 1: we'll have more on the sell off in a minute, 28 00:01:35,080 --> 00:01:37,600 Speaker 1: but first the latest developments in the war in Ukraine. 29 00:01:37,680 --> 00:01:40,040 Speaker 1: Russia says it has agreed to a cease fire to 30 00:01:40,160 --> 00:01:43,640 Speaker 1: open up humanitarian quarters in some cities, but Ukraine says 31 00:01:43,680 --> 00:01:46,520 Speaker 1: Moscow is still shooting near the capital Kiev and near 32 00:01:46,560 --> 00:01:48,680 Speaker 1: the port city of Mario, Pol where about two hundred 33 00:01:48,720 --> 00:01:53,200 Speaker 1: thousand civilians are trapped. Ukraine's president Vladimir Zlinsky is pleading 34 00:01:53,200 --> 00:01:57,920 Speaker 1: with the US and Europe for a noah fly zone. 35 00:01:57,920 --> 00:02:00,120 Speaker 1: If you don't impose a no fly zone, if at 36 00:02:00,200 --> 00:02:02,880 Speaker 1: least don't give us planes so that we can defend ourselves, 37 00:02:03,120 --> 00:02:06,840 Speaker 1: then there can be only one conclusion. You also want 38 00:02:06,920 --> 00:02:09,720 Speaker 1: us to be slowly killed. This is the responsibility of 39 00:02:09,760 --> 00:02:14,760 Speaker 1: world's politicians, Western leaders today and forever. President Zelinski spoke 40 00:02:14,760 --> 00:02:17,239 Speaker 1: with US President Joe Biden over the weekend. The third 41 00:02:17,320 --> 00:02:21,320 Speaker 1: round of talks between Ukraine and Russia is set for today. Meantime, Nathan, 42 00:02:21,320 --> 00:02:24,160 Speaker 1: the US is planning to send more aircraft to Ukraine, 43 00:02:24,240 --> 00:02:27,520 Speaker 1: Bloomberg said. Baxter has the story. Secretary of State Anthony 44 00:02:27,560 --> 00:02:30,640 Speaker 1: Lincoln says, the US is actively talking with NATO countries 45 00:02:30,639 --> 00:02:32,880 Speaker 1: about getting help in that gets a green light. In fact, 46 00:02:32,880 --> 00:02:36,800 Speaker 1: we're talking with our Polish friends right now about what 47 00:02:36,840 --> 00:02:39,440 Speaker 1: we might be able to do to backfill their needs 48 00:02:39,480 --> 00:02:42,440 Speaker 1: if in fact they choose to provide these fighter jets 49 00:02:42,480 --> 00:02:45,000 Speaker 1: to to the Ukrainians, So the US would be directly 50 00:02:45,080 --> 00:02:47,920 Speaker 1: and indirectly helping this. As he says, the world should 51 00:02:47,960 --> 00:02:51,360 Speaker 1: expect a long war there, and Russian President of Vladimir 52 00:02:51,480 --> 00:02:54,480 Speaker 1: Putin says that he will not end the invasion until 53 00:02:54,639 --> 00:02:59,040 Speaker 1: Ukraine agrees to all of his demands. In San Francisco, 54 00:02:59,080 --> 00:03:01,640 Speaker 1: I'm at baxter a Berg daybreak, all right, and thank you. 55 00:03:01,720 --> 00:03:05,280 Speaker 1: Russia finds itself increasingly isolated, but China this morning is 56 00:03:05,320 --> 00:03:08,320 Speaker 1: declaring ties with Moscow to be quote rock solid despite 57 00:03:08,360 --> 00:03:11,760 Speaker 1: President Vladimir Putin's invasion of Ukraine. China's foreign minister is 58 00:03:11,760 --> 00:03:13,880 Speaker 1: also accused in the US of trying to build a 59 00:03:13,880 --> 00:03:17,680 Speaker 1: new version of NATO in the Pacificithan energy markets are 60 00:03:17,760 --> 00:03:20,120 Speaker 1: in focus this morning. Sources say the White House is 61 00:03:20,160 --> 00:03:23,440 Speaker 1: considering whether to prohibit Russian oil imports to the US 62 00:03:23,639 --> 00:03:27,280 Speaker 1: is considering a unilateral move without the participation of allies 63 00:03:27,320 --> 00:03:30,520 Speaker 1: in Europe, at least initially. Secretary of State Anthony Blinken 64 00:03:30,560 --> 00:03:33,960 Speaker 1: discussed the plans on CNN. We are now talking to 65 00:03:34,080 --> 00:03:36,920 Speaker 1: our European partners and allies to look in a coordinated 66 00:03:36,960 --> 00:03:40,680 Speaker 1: way at the prospect of banning the import of Russian 67 00:03:40,680 --> 00:03:44,000 Speaker 1: oil while making sure that there is still an appropriate 68 00:03:44,000 --> 00:03:46,560 Speaker 1: supply of oil on world markets. That's a very active 69 00:03:46,560 --> 00:03:49,320 Speaker 1: discussion as we speak. Secretary is Day and Anthony Blanken 70 00:03:49,400 --> 00:03:52,480 Speaker 1: meets with that Israeli counterpart today to discuss the situation 71 00:03:52,560 --> 00:03:55,400 Speaker 1: in Ukraine, among other matters. Well, following those comments from 72 00:03:55,440 --> 00:03:58,080 Speaker 1: Secretary blink and Karen, we saw oil sword to just 73 00:03:58,080 --> 00:04:00,600 Speaker 1: shyve a hundred forty dollars of barrel. Right now, Brent 74 00:04:00,680 --> 00:04:03,200 Speaker 1: crude is at a hundred twenty four dollars eighty five cents, 75 00:04:03,200 --> 00:04:05,640 Speaker 1: while West Texas Intermediates at a hundred twenty two dollars 76 00:04:05,680 --> 00:04:09,040 Speaker 1: fifty nine of barrel. Other commodities are also rallying. Gold 77 00:04:09,160 --> 00:04:11,880 Speaker 1: futures jumped above two thousand dollars an ounced for the 78 00:04:11,920 --> 00:04:14,440 Speaker 1: first time in more than eighteen months, while copper and 79 00:04:14,480 --> 00:04:17,440 Speaker 1: palladium hit all time highs. Nicols spiked as much as 80 00:04:17,440 --> 00:04:20,599 Speaker 1: thirty one per cent, while we slammed the daily upward 81 00:04:20,640 --> 00:04:23,240 Speaker 1: limit for the sixth day in a row. Well commodities 82 00:04:23,240 --> 00:04:26,000 Speaker 1: are surging, Nathan stocks are selling off around the world. 83 00:04:26,160 --> 00:04:28,320 Speaker 1: We're seeing some of the biggest drops in Europe. And 84 00:04:28,400 --> 00:04:30,200 Speaker 1: let's head to London and get the very latest from 85 00:04:30,240 --> 00:04:33,159 Speaker 1: Bloomberg's un parts. Good morning U in Good morning Counter 86 00:04:33,279 --> 00:04:35,960 Speaker 1: Nathan mayor stop markets from Europe's Asia heading for bear 87 00:04:36,000 --> 00:04:39,000 Speaker 1: markets today, falling more than twenty percent from their highs. 88 00:04:39,240 --> 00:04:41,920 Speaker 1: That's a made fairs of an inflations shock and perhaps 89 00:04:41,920 --> 00:04:45,120 Speaker 1: a growth shock in the world economy. As crude source 90 00:04:45,240 --> 00:04:48,799 Speaker 1: on the prospects of a ban on Russian supplies, Banks, 91 00:04:48,920 --> 00:04:54,440 Speaker 1: carmakers and retailers leading losses today, Defense companies gaining, energy 92 00:04:54,480 --> 00:04:57,200 Speaker 1: and mining stocks the only sectors in the green today 93 00:04:57,240 --> 00:04:59,600 Speaker 1: around Europe. In London, I'm you in parts been bug 94 00:04:59,640 --> 00:05:01,400 Speaker 1: day break, all right you and thanks. We also saw 95 00:05:01,480 --> 00:05:04,160 Speaker 1: heavy selling in Asia overnight. Let's get the recap from 96 00:05:04,160 --> 00:05:07,719 Speaker 1: Bloomberg's Juliette Sally in Singapore, Good morning, Juliette, Good morning, 97 00:05:07,800 --> 00:05:10,120 Speaker 1: Nathan and Karen. The msci ASA Pacific Index was on 98 00:05:10,200 --> 00:05:12,080 Speaker 1: course for a bear market, a drop of more than 99 00:05:12,080 --> 00:05:15,520 Speaker 1: twenty cent from its February one peak. Japan's nick A 100 00:05:15,600 --> 00:05:18,000 Speaker 1: two to five index had its worst session in a year, 101 00:05:18,200 --> 00:05:21,159 Speaker 1: falling to November twenty twenty levels, Hong Kong stocks falling 102 00:05:21,160 --> 00:05:24,040 Speaker 1: to July twenty sixteen lows. Johina c s I three 103 00:05:24,120 --> 00:05:26,719 Speaker 1: hundred entered further into bear market territory, falling for at 104 00:05:26,760 --> 00:05:30,080 Speaker 1: the fourth straight session. This despite a policy statement from 105 00:05:30,120 --> 00:05:32,719 Speaker 1: the Nashville People's Congress over the weekend which failed to 106 00:05:32,760 --> 00:05:37,000 Speaker 1: offer meaningful support for the market. In Singapore, Juliette Sally, 107 00:05:37,160 --> 00:05:40,719 Speaker 1: Bloomberg Daybreak, juliet thank you as stock shall off more analyst, 108 00:05:40,760 --> 00:05:43,280 Speaker 1: you're downgrading their outlaws for US equities. We get the 109 00:05:43,320 --> 00:05:45,560 Speaker 1: latest four cash live from Bloomberg's or we need a 110 00:05:45,600 --> 00:05:47,880 Speaker 1: young good morning, day to Good morning, Karen. Your Danny 111 00:05:47,960 --> 00:05:51,520 Speaker 1: Research predicts the SNP five will drop another eight percent 112 00:05:51,640 --> 00:05:53,960 Speaker 1: to about four thousand by the end of the year. 113 00:05:54,360 --> 00:05:57,960 Speaker 1: Chief investment strategist ed Yar Danny says a recession cannot 114 00:05:57,960 --> 00:06:01,280 Speaker 1: be ruled out given that jump in oil prices. Every 115 00:06:01,360 --> 00:06:03,960 Speaker 1: Korey s I says the SMP could fall as low 116 00:06:03,960 --> 00:06:07,680 Speaker 1: as thirty seven hundred. Chief equity strategist twullion E Manual 117 00:06:07,880 --> 00:06:11,520 Speaker 1: says that a drop of about fifteen percent from Friday's 118 00:06:11,560 --> 00:06:14,719 Speaker 1: Clothes could trigger action from the Federal Reserve to help 119 00:06:14,760 --> 00:06:18,359 Speaker 1: stabilize markets. Before the war, the media SMP target for 120 00:06:18,400 --> 00:06:22,040 Speaker 1: strategists was around five thousand. Now it's at about forty 121 00:06:22,120 --> 00:06:26,160 Speaker 1: three hundred. Live in New York. I'm Renita Young Bloomberg Daybreak. 122 00:06:26,240 --> 00:06:28,720 Speaker 1: All right, Nita. Thanks. As the war in Ukraine intensifies, 123 00:06:28,760 --> 00:06:31,599 Speaker 1: the list of companies cutting ties with Russia is growing. 124 00:06:31,680 --> 00:06:36,200 Speaker 1: Let's get that from Bloomberg's Lisa Mateo, Netflix, TikTok, Samsung, 125 00:06:36,279 --> 00:06:39,160 Speaker 1: and credit card operators are the latest to either cut 126 00:06:39,200 --> 00:06:42,680 Speaker 1: ties or review their operations in Russia. Netflix, which has 127 00:06:42,680 --> 00:06:45,600 Speaker 1: been available in Russia since two thousand sixteen, has under 128 00:06:45,600 --> 00:06:48,479 Speaker 1: one million customers in the country. Over the weekend. Visa 129 00:06:48,520 --> 00:06:52,039 Speaker 1: and MasterCard also said they were suspending operations in Russia. 130 00:06:52,120 --> 00:06:54,560 Speaker 1: Each gets about four percent of its net revenue from 131 00:06:54,560 --> 00:06:58,240 Speaker 1: business link to Russia, and yesterday American Express said it 132 00:06:58,360 --> 00:07:02,200 Speaker 1: was suspending its operations in USA and Belarus. Lisa Mateo 133 00:07:02,320 --> 00:07:06,400 Speaker 1: Bloomberg Daybreak A Lisa, thank you, SMP futures down down 134 00:07:06,480 --> 00:07:09,440 Speaker 1: seventy six points down, futures down five D seventy nine 135 00:07:09,440 --> 00:07:12,280 Speaker 1: and NASTAC futures are lower by two hundred fifty five points. 136 00:07:12,280 --> 00:07:15,720 Speaker 1: The tenure treasury yield one point seven two. Straight ahead, 137 00:07:15,720 --> 00:07:18,320 Speaker 1: your latest local headlines and the check of sports. This 138 00:07:18,640 --> 00:07:24,880 Speaker 1: is Bloomberg. Sounds six o seven on Wall Street where 139 00:07:24,960 --> 00:07:27,240 Speaker 1: sixty one degrees in Central Park. We had an accident 140 00:07:27,280 --> 00:07:31,120 Speaker 1: in Bedford. It's southbounds at four. Details coming up in traffic. 141 00:07:31,160 --> 00:07:33,320 Speaker 1: First Michael Barr with more on what's going on in 142 00:07:33,360 --> 00:07:35,280 Speaker 1: New York and around the world. Good morning, Michael, Good 143 00:07:35,280 --> 00:07:38,200 Speaker 1: morning Nathan. Former New York Governor and Drew Cuomo appeared 144 00:07:38,200 --> 00:07:41,120 Speaker 1: to be hinting at a political comeback in remarks at 145 00:07:41,120 --> 00:07:44,480 Speaker 1: the Brooklyn Church on Sunday. The Democrats said he acknowledged 146 00:07:44,520 --> 00:07:47,520 Speaker 1: his behavior wasn't appropriate, but to cry the political sharks 147 00:07:47,520 --> 00:07:52,240 Speaker 1: and Albany who use sexual harassment accusations two, in his words, 148 00:07:52,240 --> 00:07:56,120 Speaker 1: effectively overturn and election. Probably no, I've gone through a 149 00:07:56,160 --> 00:08:00,160 Speaker 1: difficult period the past few months. I resigned his even 150 00:08:00,280 --> 00:08:03,560 Speaker 1: or the press roasted me. My colleagues were ridiculed, my 151 00:08:03,640 --> 00:08:08,640 Speaker 1: brother was fired. It was ugly. It was probably the 152 00:08:08,680 --> 00:08:12,679 Speaker 1: toughest time of my life. Cuomo resigned in August, days 153 00:08:12,800 --> 00:08:16,920 Speaker 1: after an independent probe concluded he sexually harassed eleven women. 154 00:08:17,520 --> 00:08:19,960 Speaker 1: It's the next chapter for New York City about the 155 00:08:20,000 --> 00:08:23,920 Speaker 1: COVID pandemic. Starting today, the city is dropping several mandates, 156 00:08:23,920 --> 00:08:29,400 Speaker 1: including masks in schools and vaccination requirements for businesses. Also, today, 157 00:08:29,440 --> 00:08:33,800 Speaker 1: restaurants would no longer ask for proof of vaccination before entering. Meanwhile, 158 00:08:33,840 --> 00:08:36,640 Speaker 1: COVID nineteen deaths are about to hit the six million 159 00:08:36,679 --> 00:08:40,400 Speaker 1: mark in the world. It is another tragic reminder about 160 00:08:40,440 --> 00:08:44,000 Speaker 1: the deadliness of the pandemic. Even as masks are dropping 161 00:08:44,320 --> 00:08:47,240 Speaker 1: and businesses are reopening around the globe, the US is 162 00:08:47,320 --> 00:08:51,160 Speaker 1: nearing one million deaths alone. Vice President Kamala Harris was 163 00:08:51,200 --> 00:08:54,320 Speaker 1: in Solma, Alabama, to mark the anniversary of a defining 164 00:08:54,320 --> 00:08:57,720 Speaker 1: moment in the fight for equal voting rights. On March seven, 165 00:08:57,960 --> 00:09:02,280 Speaker 1: nineteen sixty, white state troopers beat in tear gas black 166 00:09:02,360 --> 00:09:06,120 Speaker 1: voting rights marchers attempting to cross the Edmund Pettis Bridge. 167 00:09:06,240 --> 00:09:10,079 Speaker 1: Harris vowed to push for federal legislation that guarantees voting 168 00:09:10,160 --> 00:09:16,600 Speaker 1: rights across the country. States past anti voting lawns laws 169 00:09:16,640 --> 00:09:21,040 Speaker 1: that banned drop boxes and restrict early voting. Vice President 170 00:09:21,080 --> 00:09:24,240 Speaker 1: Harris says the bravery of those fifties seven years ago 171 00:09:24,880 --> 00:09:28,480 Speaker 1: is a reminder that freedom and democracy can never be 172 00:09:28,600 --> 00:09:32,080 Speaker 1: taken for granted. Seven people are dead after tornado swept 173 00:09:32,080 --> 00:09:35,280 Speaker 1: through central Iowa. Iowa Governor Kim Reynolds talked about the 174 00:09:35,360 --> 00:09:38,319 Speaker 1: hundreds of volunteers who showed up to help. We show up, 175 00:09:38,679 --> 00:09:40,800 Speaker 1: we take care of our family, we take care of 176 00:09:40,840 --> 00:09:43,920 Speaker 1: our neighbors, and we take care of our community. Governor 177 00:09:43,920 --> 00:09:46,440 Speaker 1: Reynolds says the deadly tornado had winds of up to 178 00:09:46,480 --> 00:09:50,280 Speaker 1: one hundred sixty five. Global News twenty four hours a 179 00:09:50,360 --> 00:09:53,280 Speaker 1: day on air and on Bloomberg Quick Tank, powered by 180 00:09:53,280 --> 00:09:56,000 Speaker 1: more than seven hundred journalists and analysts more than a 181 00:09:56,040 --> 00:09:59,360 Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg, Nathan, 182 00:09:59,360 --> 00:10:05,800 Speaker 1: Thank you, Michael, six on nine on Wall Street time 183 00:10:05,840 --> 00:10:08,600 Speaker 1: for the Bloomberg Sports Update with John Stashwen Nathan Nix 184 00:10:08,640 --> 00:10:10,680 Speaker 1: In l A. They jumped in front of the second quarter. 185 00:10:10,760 --> 00:10:13,640 Speaker 1: I'm scoring the Clippers thirty four to eight. Team. Forgive 186 00:10:13,760 --> 00:10:16,280 Speaker 1: Nick fans if they were not celebrating yet. During this 187 00:10:16,400 --> 00:10:19,840 Speaker 1: stretch of seven straight losses sixteen losses in the last 188 00:10:19,960 --> 00:10:22,800 Speaker 1: nineteen games, Nicks that sizeable leads Seemingly every game, they 189 00:10:22,880 --> 00:10:25,559 Speaker 1: kept blowing the leads. This time they did not. They 190 00:10:25,559 --> 00:10:29,400 Speaker 1: beat the Clippers one three. R. J. Barrett twenty four points, 191 00:10:29,400 --> 00:10:32,880 Speaker 1: Emmanuel Quickley had twenty one. The coach Tom Thibodau from 192 00:10:32,880 --> 00:10:35,600 Speaker 1: the All Star break on we played well in the 193 00:10:35,640 --> 00:10:38,920 Speaker 1: Miami game, we played well. In both Philadelphia games. We 194 00:10:39,000 --> 00:10:41,160 Speaker 1: played well. We don't have anything to show for it. Actually, 195 00:10:41,200 --> 00:10:45,720 Speaker 1: unfortunate part, we didn't close it out right. And tonight 196 00:10:45,800 --> 00:10:49,440 Speaker 1: we played well from start to finish, and so hopefully 197 00:10:49,440 --> 00:10:51,880 Speaker 1: we can build on it and play tonight in Sacramento 198 00:10:52,000 --> 00:10:54,520 Speaker 1: to answered their first two game winning streaking, almost two 199 00:10:54,520 --> 00:10:57,640 Speaker 1: months after the Nets couldn't stop Jason Tatum in Boston. 200 00:10:57,640 --> 00:10:59,960 Speaker 1: He poured in fifty four points. He had thirty four 201 00:11:00,000 --> 00:11:03,079 Speaker 1: in the second half. Red Hot Celtics won one six 202 00:11:03,320 --> 00:11:05,720 Speaker 1: one twenty. They've won fourteen of their last sixteen, while 203 00:11:05,720 --> 00:11:08,640 Speaker 1: the Nets have lost seventheen of their last twenty have 204 00:11:08,760 --> 00:11:11,720 Speaker 1: dropped under five hundred. Kevin Rant led Brooklyn with thirty seven, 205 00:11:11,720 --> 00:11:15,760 Speaker 1: went over twenty five thousand career points, three in NBA 206 00:11:15,840 --> 00:11:17,800 Speaker 1: history to do that. Solid went to the Rangers, two 207 00:11:17,840 --> 00:11:19,720 Speaker 1: goals in the first period, two more in the third. 208 00:11:19,720 --> 00:11:22,240 Speaker 1: They won four one at Winnipeg, pair of goals for 209 00:11:22,320 --> 00:11:25,000 Speaker 1: Chris cry At a numbers thirty seven and thirty eight. 210 00:11:25,040 --> 00:11:28,080 Speaker 1: Baseball players made a concession in an effort to end 211 00:11:28,080 --> 00:11:30,840 Speaker 1: the lockout, giving their blessing to rule changes like a 212 00:11:30,880 --> 00:11:34,079 Speaker 1: pitch clock and a reduction of shifting, but the economic 213 00:11:34,160 --> 00:11:36,560 Speaker 1: issues remained. In fact, MLB says the two sides are 214 00:11:36,559 --> 00:11:39,840 Speaker 1: now further apart another week's worth of regular season games. 215 00:11:39,960 --> 00:11:43,880 Speaker 1: Racis we get cancer, John Statuetward blue Burn sports nap okay, John, 216 00:11:43,920 --> 00:11:45,960 Speaker 1: thanks right now, it's in p Futures are down seventy 217 00:11:45,960 --> 00:11:49,199 Speaker 1: one points down. Futures down five forty one nastack futures 218 00:11:49,200 --> 00:11:52,400 Speaker 1: lower by two hundred forty seven points ten. Your treasury 219 00:11:52,400 --> 00:11:55,120 Speaker 1: little changed at one point seven three percent yield West 220 00:11:55,120 --> 00:11:58,120 Speaker 1: Texas Intermediate crewed up six point one percent a hundred 221 00:11:58,160 --> 00:12:01,760 Speaker 1: twenty two dollars seventies. Sense of barrel. You're listening to 222 00:12:01,760 --> 00:12:09,000 Speaker 1: Bloomberg Day right Blomberg eleven three oh weather increasing cloud 223 00:12:09,040 --> 00:12:11,880 Speaker 1: showers and thunderstorms today with a high near seventy degrees, 224 00:12:11,920 --> 00:12:15,880 Speaker 1: mostly sunny, breezy, cooler tomorrow upper forties for highs mid 225 00:12:15,920 --> 00:12:24,080 Speaker 1: forties by Wednesday. Right now in Central Park Markets, headlines 226 00:12:24,120 --> 00:12:27,079 Speaker 1: and breaking news twenty four hours a day at Bloomberg 227 00:12:27,160 --> 00:12:30,480 Speaker 1: dot com, The Bloomberg Business at and at Bloomberg Quick Take. 228 00:12:30,760 --> 00:12:40,160 Speaker 1: This is a Bloomberg Business slash and I'm Karen Moscow. 229 00:12:40,200 --> 00:12:43,200 Speaker 1: This update, brought to you by Interactive Brokers Global Analysts, 230 00:12:43,200 --> 00:12:46,240 Speaker 1: helps you find new global investment opportunities. To diversify your 231 00:12:46,280 --> 00:12:50,560 Speaker 1: portfolio and discover undervalued companies that may have greater growth potential. 232 00:12:50,640 --> 00:12:53,599 Speaker 1: Try ib k our Global Analysts today at ibk R 233 00:12:53,720 --> 00:12:57,360 Speaker 1: dot com slash g A. Major stock markets from Europe 234 00:12:57,400 --> 00:12:59,760 Speaker 1: to Asia are heading for bear markets, following more than 235 00:12:59,800 --> 00:13:01,880 Speaker 1: two any percent from highs and maid fears of an 236 00:13:01,880 --> 00:13:05,000 Speaker 1: inflation shock is crude oil source on the prospect of 237 00:13:05,000 --> 00:13:07,600 Speaker 1: a ban on Russian supplies. We check the markets every 238 00:13:07,600 --> 00:13:10,439 Speaker 1: fifteen minutes throughout the trading day on Bloomberg S and 239 00:13:10,480 --> 00:13:13,000 Speaker 1: P Future is down about eighty points down Future is 240 00:13:13,040 --> 00:13:16,240 Speaker 1: down five nine five NASDAG Future is down at two 241 00:13:16,320 --> 00:13:19,599 Speaker 1: hundred sixty two. That's down one point nine percent. The 242 00:13:19,679 --> 00:13:22,079 Speaker 1: docks in Germany is down three and a third percent. 243 00:13:22,120 --> 00:13:24,400 Speaker 1: The ten year treasury little change at one point seven 244 00:13:24,440 --> 00:13:27,120 Speaker 1: three percent, yield on the two year one point four 245 00:13:27,200 --> 00:13:30,120 Speaker 1: seven percent. Nine X Scrude oil is at five point 246 00:13:30,160 --> 00:13:32,439 Speaker 1: eight percent, up six dollars seventy cents at a hundred 247 00:13:32,480 --> 00:13:34,920 Speaker 1: twenty two dollars thirty eight cents of barrel co MIxS. 248 00:13:34,960 --> 00:13:36,960 Speaker 1: Gold is at one point nine percent or thirty six 249 00:13:36,960 --> 00:13:39,920 Speaker 1: dollars eighty cents at two thousand three dollars forty cents announced. 250 00:13:40,280 --> 00:13:42,600 Speaker 1: The euro one point eight three one against the dollar, 251 00:13:42,679 --> 00:13:45,240 Speaker 1: British found one point three one four five, The yen 252 00:13:45,360 --> 00:13:47,960 Speaker 1: is at one fifteen point oh six, and Bitcoin this 253 00:13:48,040 --> 00:13:51,000 Speaker 1: morning is moving lower at thirty eight thousand, one hundred 254 00:13:51,000 --> 00:13:54,000 Speaker 1: fifty dollars. That's a Bloomberg business flash. Now here's Michael 255 00:13:54,000 --> 00:13:56,200 Speaker 1: Barr with more on what's going on around the world. 256 00:13:56,280 --> 00:13:59,920 Speaker 1: Michael Karen, thank you very much. President Vladimir Putin. Said again, 257 00:14:00,080 --> 00:14:04,840 Speaker 1: war will continue until Ukraine accepts his demands and halts resistance, 258 00:14:04,880 --> 00:14:08,560 Speaker 1: dimming hopes for a negotiated settlement. Meanwhile, a representative for 259 00:14:08,679 --> 00:14:11,960 Speaker 1: Kiev has urged the United Nations Top Court to order 260 00:14:12,080 --> 00:14:15,440 Speaker 1: Russia to halt. It's a devastating invasion of Ukraine. In 261 00:14:15,480 --> 00:14:18,000 Speaker 1: the NBA the next one, the Celtics beat the Nets 262 00:14:18,000 --> 00:14:22,080 Speaker 1: one twenty. The Wizards won. In the NHL, the Devil's 263 00:14:22,080 --> 00:14:24,600 Speaker 1: beat the Blues and overtime three to the Rangers one. 264 00:14:25,600 --> 00:14:29,160 Speaker 1: Major League Baseball reacted angrily to the latest offer by 265 00:14:29,240 --> 00:14:33,280 Speaker 1: locked out players when bargaining resumed yesterday. Management accused the 266 00:14:33,400 --> 00:14:36,520 Speaker 1: union of backtracking and showing no sign of a breakthrough 267 00:14:36,800 --> 00:14:40,280 Speaker 1: to get the derailed season back on track. Global News 268 00:14:40,280 --> 00:14:43,480 Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake, 269 00:14:43,760 --> 00:14:46,880 Speaker 1: powered by more than twenty seven journalists and analysts more 270 00:14:46,880 --> 00:14:50,560 Speaker 1: than a hundred twenty countries. I'm Michael bar this is Bloomberg, Nathan. 271 00:14:50,680 --> 00:14:52,800 Speaker 1: Thanks Michael. We're coming up to six twenty on Wall 272 00:14:52,840 --> 00:14:55,960 Speaker 1: Street line from the Bloomberg Interacted Broker Studios. This is 273 00:14:56,000 --> 00:14:59,320 Speaker 1: Bloomberg Daybreak and Will Kennedy is with us now. Bloomberg 274 00:14:59,400 --> 00:15:02,680 Speaker 1: News Executive of Editor for Energy and Commodities, as we 275 00:15:02,720 --> 00:15:06,000 Speaker 1: look at this huge rally in oil, natural gas and 276 00:15:06,040 --> 00:15:09,800 Speaker 1: other commodities this morning, will Good morning. When the trading 277 00:15:09,920 --> 00:15:13,320 Speaker 1: started overnight, we saw that big spike just on the 278 00:15:13,360 --> 00:15:16,760 Speaker 1: prospect of the US making a move on Russian oil 279 00:15:16,800 --> 00:15:19,600 Speaker 1: and gas. What's the feeling in the market about where 280 00:15:19,640 --> 00:15:22,920 Speaker 1: these oil prices could go from here? Good morning, make 281 00:15:23,160 --> 00:15:26,960 Speaker 1: thank you for having me. Yes, what happened is that 282 00:15:27,320 --> 00:15:29,880 Speaker 1: sanct you State Anthony Lincoln said yesterday that the US 283 00:15:30,000 --> 00:15:33,640 Speaker 1: was considering an embargo on US oil imports. Now, the 284 00:15:33,760 --> 00:15:37,400 Speaker 1: US itself imports relatively little Russian oil, but I think 285 00:15:37,400 --> 00:15:39,960 Speaker 1: it's making trade is very fearful that this is going 286 00:15:39,960 --> 00:15:42,200 Speaker 1: in one direction, and that a venger countries are likely 287 00:15:42,240 --> 00:15:47,520 Speaker 1: to impose sanctions on Russian energy supplies. And don't forget 288 00:15:47,560 --> 00:15:51,280 Speaker 1: that Russia exports five million bills a day of prude, 289 00:15:51,280 --> 00:15:53,800 Speaker 1: another three million bills a day of oil products. That 290 00:15:53,840 --> 00:15:56,160 Speaker 1: would have a huge impact on the global market. And 291 00:15:56,200 --> 00:16:00,320 Speaker 1: that's what's happened, creating the prospect of considerable under apply 292 00:16:00,720 --> 00:16:04,400 Speaker 1: and that's why we've got this extreme uh spike this morning. 293 00:16:04,440 --> 00:16:07,040 Speaker 1: Now it's come back down a bit, since it still 294 00:16:07,040 --> 00:16:09,880 Speaker 1: remains at very elevated levels of well above a hundred 295 00:16:09,880 --> 00:16:13,280 Speaker 1: and twenty dollars a barrel here in London um. But 296 00:16:13,680 --> 00:16:17,720 Speaker 1: the future to actually really depends on what those sanctions 297 00:16:17,720 --> 00:16:21,080 Speaker 1: and oils look like if they materialize. Even if they 298 00:16:21,080 --> 00:16:23,960 Speaker 1: don't materialize, though, if we have this concern in the 299 00:16:24,000 --> 00:16:27,520 Speaker 1: market that there could be destabilization, does the run up 300 00:16:27,520 --> 00:16:30,720 Speaker 1: in prices sort of become a self fulfilling prophecy. I 301 00:16:30,720 --> 00:16:33,200 Speaker 1: think that's an extremely important point you make, Nathan. What 302 00:16:33,240 --> 00:16:36,040 Speaker 1: we've seen since the Russian invasion of Ukraine is that 303 00:16:36,120 --> 00:16:37,840 Speaker 1: a lot of people in the oil market have been 304 00:16:37,920 --> 00:16:40,840 Speaker 1: very wary of buying Russian at all. And there are 305 00:16:40,840 --> 00:16:43,840 Speaker 1: several reasons for that. Most importantly the prospect of getting 306 00:16:43,840 --> 00:16:48,760 Speaker 1: involved in or embroiled in tougher sanctions. Secondly, there's been 307 00:16:48,760 --> 00:16:51,320 Speaker 1: a reluctance by banks to finance trade in Russian oil. 308 00:16:51,360 --> 00:16:54,080 Speaker 1: And Thirdly, a lot of people think it's inappropriate to 309 00:16:54,320 --> 00:16:57,360 Speaker 1: buy Russian considering what's going on in Ukraine. And you 310 00:16:57,400 --> 00:16:59,200 Speaker 1: put that all together, and we've got somewhat as of 311 00:16:59,240 --> 00:17:03,320 Speaker 1: bias strikes, so we're getting this supply shortfall in any case, 312 00:17:03,440 --> 00:17:06,560 Speaker 1: But as politicians and put the emetric as they say, 313 00:17:06,600 --> 00:17:10,840 Speaker 1: more sanctions are coming, that becomes more acute. At the 314 00:17:10,880 --> 00:17:14,680 Speaker 1: same time, we have seen major oil companies like Shell 315 00:17:14,720 --> 00:17:18,400 Speaker 1: buying Russian oil and pretty steep discounts in the run 316 00:17:18,480 --> 00:17:22,120 Speaker 1: up here that even before sanctions potentially could be put 317 00:17:22,160 --> 00:17:26,160 Speaker 1: in place. When we have Russian oil being being sold 318 00:17:26,160 --> 00:17:29,880 Speaker 1: at a major discount compared to Brent and West excess intermedia, 319 00:17:29,960 --> 00:17:32,399 Speaker 1: what kind of impact does that have. Well, this is 320 00:17:32,400 --> 00:17:34,919 Speaker 1: a very interesting case. Shells that, as you say, they 321 00:17:34,960 --> 00:17:38,600 Speaker 1: bought a cargo and a very steep discount on Friday, 322 00:17:38,640 --> 00:17:41,359 Speaker 1: and that discount exists because there were so few people 323 00:17:41,440 --> 00:17:44,920 Speaker 1: willing to buy Russian oil. The Eules grade, as it's called, 324 00:17:44,960 --> 00:17:48,159 Speaker 1: the main export grade that goes to Europe. There were 325 00:17:48,240 --> 00:17:51,080 Speaker 1: very few bias for Eules and Shell stepped in. But 326 00:17:51,520 --> 00:17:56,280 Speaker 1: what was interesting was the reaction afterwards. The Ukrainian Foreign 327 00:17:56,280 --> 00:18:00,280 Speaker 1: Minister said some very provocative things on Twitter about how 328 00:18:00,440 --> 00:18:04,359 Speaker 1: the oil must smell of blood, and Shell was forced 329 00:18:04,359 --> 00:18:08,159 Speaker 1: to put out two statements afterwards justifying its decision and 330 00:18:08,240 --> 00:18:11,720 Speaker 1: saying that it had been taken in conjunction with after 331 00:18:11,760 --> 00:18:15,680 Speaker 1: consultations with governments. Um I think it may have made 332 00:18:15,720 --> 00:18:18,960 Speaker 1: people wary about buying Russian oil. Um, so there are 333 00:18:19,000 --> 00:18:21,840 Speaker 1: buyers out there, but just how many we'll see later 334 00:18:21,920 --> 00:18:24,160 Speaker 1: today when we look at the latest trades in Russian 335 00:18:25,359 --> 00:18:27,600 Speaker 1: If we are sanctions were to be put in place, 336 00:18:27,640 --> 00:18:31,080 Speaker 1: either by the US or you know, coordinated fashion, what 337 00:18:31,160 --> 00:18:36,119 Speaker 1: kind of reconfiguration of the global supply chain in oil 338 00:18:36,280 --> 00:18:40,080 Speaker 1: could we see? Well, China would probably be buying a 339 00:18:40,080 --> 00:18:42,000 Speaker 1: lot more Russian oil at the moment, I buy some 340 00:18:42,160 --> 00:18:45,320 Speaker 1: food pipeline from Far Eastern terminals, but it would probably 341 00:18:45,320 --> 00:18:47,800 Speaker 1: be shipping more oil all the way from the Black Sea, 342 00:18:48,240 --> 00:18:52,000 Speaker 1: even the Baltic Sea. Likewise, India big oil consumer, so 343 00:18:52,040 --> 00:18:54,440 Speaker 1: you're gonna see You're going to see an Eastwood drift 344 00:18:54,480 --> 00:18:56,960 Speaker 1: in Russian oil and that oil would be have to 345 00:18:56,960 --> 00:19:00,320 Speaker 1: be replaced probably by Europe and the US taking more 346 00:19:00,320 --> 00:19:03,440 Speaker 1: oil in the Middle East. So you would see changes 347 00:19:03,480 --> 00:19:05,480 Speaker 1: in the flows of oil around the world that all 348 00:19:05,520 --> 00:19:09,680 Speaker 1: our sources supply in the Atlantic basin Africa for example, 349 00:19:09,760 --> 00:19:13,320 Speaker 1: but you know globally, supplies all the already very tight 350 00:19:13,400 --> 00:19:17,119 Speaker 1: even before the war in Ukraine, uh, you know outpit 351 00:19:17,160 --> 00:19:19,720 Speaker 1: with having to raise production, auto prices were rising, so 352 00:19:19,960 --> 00:19:22,440 Speaker 1: it's a very difficult situation and that's why you're seeing 353 00:19:22,440 --> 00:19:26,040 Speaker 1: this an enormous volatility and include all prices. Yeah, we're 354 00:19:26,119 --> 00:19:29,680 Speaker 1: certainly watching it play out in real time right now 355 00:19:29,720 --> 00:19:33,040 Speaker 1: with Brent up five point seven percent, a hundred twenty 356 00:19:33,080 --> 00:19:35,480 Speaker 1: four dollars eighty nine cents of barrel in West Texas 357 00:19:35,520 --> 00:19:40,520 Speaker 1: Intermediate right now up six nine. Will Kennedy, our executive 358 00:19:40,640 --> 00:19:43,520 Speaker 1: editor for Energy and Commodities of Bloomberg News, thanks for 359 00:19:43,560 --> 00:19:47,200 Speaker 1: the time this morning. Appreciate the insights. Looking at the 360 00:19:47,440 --> 00:19:51,480 Speaker 1: equity markets, they're falling. Sp futures down sixty three point, 361 00:19:51,480 --> 00:19:54,560 Speaker 1: Staff futures down four one and nastack futures lower by 362 00:19:54,600 --> 00:19:58,280 Speaker 1: two hundred twenty eight points. Little change to the tenure. 363 00:19:58,280 --> 00:20:01,480 Speaker 1: It's at one point seven to yield. You're listening to 364 00:20:01,520 --> 00:20:09,760 Speaker 1: Bloomberg Daybreak Bloomberg eleven three oh weather showers and thunderstorms 365 00:20:09,760 --> 00:20:12,919 Speaker 1: developing today, breezy with a high near seventy. By tomorrow, 366 00:20:13,000 --> 00:20:15,359 Speaker 1: will be in the upper forties under mostly sunny sky, 367 00:20:15,760 --> 00:20:18,359 Speaker 1: clouds in mid forties by Wednesday. Currently sixty one in 368 00:20:18,440 --> 00:20:25,719 Speaker 1: Central Park. Broadcasting live from the Bloomberg Interactive Broker Studio 369 00:20:25,880 --> 00:20:29,040 Speaker 1: in New York. Bloomberg Living Free On to Washington, d C. 370 00:20:29,240 --> 00:20:33,080 Speaker 1: Bloomberg on to Boston, Bloomberg one all six one to 371 00:20:33,200 --> 00:20:36,880 Speaker 1: San Francisco, Bloomberg nine sixty to the country, Sirius XM 372 00:20:37,000 --> 00:20:39,800 Speaker 1: to A one nineteen, and around the globe, the Bloomberg 373 00:20:39,840 --> 00:20:43,760 Speaker 1: Business app and Bloomberg Radio dot com. This is Bloomberg 374 00:20:43,840 --> 00:20:51,800 Speaker 1: Daybreak six thirty on Wall Street. Good morning, I'm Nathan 375 00:20:51,880 --> 00:20:54,960 Speaker 1: Hager and I'm Karen Moscow, and we are just about 376 00:20:55,080 --> 00:20:57,880 Speaker 1: three hours away from the open of US trading time 377 00:20:57,920 --> 00:21:00,239 Speaker 1: for the five things you need to notice start your day. 378 00:21:00,320 --> 00:21:03,320 Speaker 1: Brought to you by Interactive Brokers. Trade crypto for less 379 00:21:03,359 --> 00:21:06,159 Speaker 1: coin with commissions just twelve to eighteen basis points and 380 00:21:06,240 --> 00:21:09,240 Speaker 1: no hidden spreads or markups. Learn more at ibk r 381 00:21:09,320 --> 00:21:12,399 Speaker 1: dot com, slash crypto at first. The latest on the 382 00:21:12,440 --> 00:21:15,919 Speaker 1: war in Ukraine. Russia says is agreed to a ceasefire 383 00:21:15,960 --> 00:21:19,520 Speaker 1: to open up humanitarian corridors in some cities, but Ukraine 384 00:21:19,560 --> 00:21:23,000 Speaker 1: says Moscow is still shooting near the capital Kiev and 385 00:21:23,080 --> 00:21:25,760 Speaker 1: near the port city of Mariopol, where about two hundred 386 00:21:25,840 --> 00:21:29,080 Speaker 1: thousand civilians are trapped. The Mayor of Kiev of Itali 387 00:21:29,160 --> 00:21:33,680 Speaker 1: Klitchko says Ukraine needs more support. We need unity, we 388 00:21:33,880 --> 00:21:38,920 Speaker 1: need Prussia, we need sanctions, we need the weapons support. 389 00:21:39,440 --> 00:21:41,639 Speaker 1: The mayor of Kiev was a guest on ABC's This 390 00:21:41,760 --> 00:21:44,840 Speaker 1: Week or at Sundays on Bloomberg Radio. Well Maytime, Karen 391 00:21:44,880 --> 00:21:47,480 Speaker 1: Global stocks are selling off an oil is soaring on 392 00:21:47,560 --> 00:21:50,440 Speaker 1: the prospect of a ban on Russian supplies. Bloomberg Goose 393 00:21:50,480 --> 00:21:52,639 Speaker 1: has learned the White House is considering whether to prohibit 394 00:21:52,720 --> 00:21:55,840 Speaker 1: Russian oil imports into the US without the participation of 395 00:21:55,880 --> 00:21:59,680 Speaker 1: allies in Europe. Here's California Democratic Congressman Adam Chef, I 396 00:21:59,720 --> 00:22:02,360 Speaker 1: think is very strong by Parsons support to cut off 397 00:22:02,680 --> 00:22:05,960 Speaker 1: Russian oil and gas sales to the United States. It's 398 00:22:06,000 --> 00:22:08,560 Speaker 1: an affaba. I think to many of us in Congress 399 00:22:08,640 --> 00:22:11,359 Speaker 1: that while we were sanctioning them and trying to cripple 400 00:22:11,400 --> 00:22:13,240 Speaker 1: their economy, that we would help them in any way 401 00:22:13,280 --> 00:22:16,720 Speaker 1: by purchasing their petroleum. But I think the Administration wants 402 00:22:16,760 --> 00:22:19,920 Speaker 1: to make sure that we work with our allies. Congressman 403 00:22:19,920 --> 00:22:22,080 Speaker 1: Adam Schiff made the comments on Face the Nation from 404 00:22:22,160 --> 00:22:25,560 Speaker 1: CBS heard Sundays on Bloomberg Radio. As for the reaction 405 00:22:25,600 --> 00:22:28,000 Speaker 1: in the oil market, Nathan had originally jumped as much 406 00:22:28,040 --> 00:22:30,159 Speaker 1: as eighteen percent on the prospect of a ban on 407 00:22:30,280 --> 00:22:33,439 Speaker 1: Russian crewed right now nine x screwed oil is up 408 00:22:33,480 --> 00:22:36,280 Speaker 1: more than a six percent and Brent is up about 409 00:22:36,400 --> 00:22:39,439 Speaker 1: six percent itself. Gold Future has jumped above two thousand 410 00:22:39,520 --> 00:22:42,120 Speaker 1: dollars announced for the first time in more than eighteen months, 411 00:22:42,160 --> 00:22:45,040 Speaker 1: while copper and palladium hit all time highs a stock 412 00:22:45,119 --> 00:22:48,160 Speaker 1: sell off around the world, more analystsed downgrading their outlooks 413 00:22:48,200 --> 00:22:50,960 Speaker 1: for US equities. Let's get the details live from Bloomberg's 414 00:22:51,000 --> 00:22:54,200 Speaker 1: Runia Young, Ronita Nathan Yar. Danny Research predicts the S 415 00:22:54,320 --> 00:22:57,040 Speaker 1: and P five would drop to four thousand by the 416 00:22:57,200 --> 00:23:00,320 Speaker 1: end of this year. Chief investment strategist ed Yard Danny 417 00:23:00,440 --> 00:23:03,480 Speaker 1: says a recession cannot be ruled out given that jump 418 00:23:03,520 --> 00:23:06,399 Speaker 1: in oil prices. Ever, cor I s I says the 419 00:23:06,600 --> 00:23:10,080 Speaker 1: SNP could fall as low as thirty seven hundred. Before 420 00:23:10,119 --> 00:23:13,760 Speaker 1: the war, the SMP median target for strategists was around 421 00:23:13,840 --> 00:23:17,760 Speaker 1: five thousand. Now it's a about forty three hundred. Live 422 00:23:17,800 --> 00:23:21,040 Speaker 1: in New York. I'm Nita Young, Bloomberg Day break. All right, Nita, 423 00:23:21,119 --> 00:23:24,560 Speaker 1: thank you, and the corporate excident. The corporate exodus from 424 00:23:24,640 --> 00:23:28,760 Speaker 1: Russia continues today, Netflix, TikTok, Samsung, Visa MasterCard in American 425 00:23:28,840 --> 00:23:31,159 Speaker 1: Express of the latest companies to either cut ties or 426 00:23:31,200 --> 00:23:34,520 Speaker 1: review their operations in the country. And this is Bloomberg, 427 00:23:38,160 --> 00:23:40,359 Speaker 1: all right, Karen, Thanks sixty three on Wall Street, sixty 428 00:23:40,359 --> 00:23:42,760 Speaker 1: one degrees in Central Park. Got an accident in Queen's 429 00:23:42,800 --> 00:23:44,960 Speaker 1: on the l I E West bounded wood Haven Boulevard. 430 00:23:45,000 --> 00:23:47,439 Speaker 1: Details coming up in traffic. First Michael Barr with more 431 00:23:47,480 --> 00:23:49,320 Speaker 1: on what's going on in New York and around the world. 432 00:23:49,400 --> 00:23:52,119 Speaker 1: Good morning, Michael, Good morning Nathan. Former New York Governor 433 00:23:52,200 --> 00:23:55,399 Speaker 1: Andrew Cuomo is making a campaign style speech at a 434 00:23:55,440 --> 00:23:59,840 Speaker 1: Brooklyn church. He hinted at a possible political comeback. Cromo 435 00:24:00,160 --> 00:24:03,680 Speaker 1: resigned in August after an independent investigation found he sexually 436 00:24:03,760 --> 00:24:08,119 Speaker 1: harassed nearly a dozen women. Now he attributed some of 437 00:24:08,240 --> 00:24:12,520 Speaker 1: his behavior to quote perspectives that changed, but made the 438 00:24:12,600 --> 00:24:15,200 Speaker 1: point that none of the cases were substantial enough to 439 00:24:15,240 --> 00:24:19,480 Speaker 1: be prosecuted. The actions against me were prosecutorial misconduct. That 440 00:24:19,720 --> 00:24:22,440 Speaker 1: is clear. They did' act in the interest of justice. 441 00:24:23,000 --> 00:24:26,480 Speaker 1: The district attorneys proved that they acted in their own 442 00:24:26,560 --> 00:24:30,040 Speaker 1: self interest. They wanted me out because they wanted my job. 443 00:24:30,440 --> 00:24:33,600 Speaker 1: Auomo Sunday called it the toughest time of his life. 444 00:24:34,359 --> 00:24:36,600 Speaker 1: It's the next chapter for New York City about the 445 00:24:36,640 --> 00:24:40,080 Speaker 1: COVID pandemics. Starting today, the city is dropping several mandates, 446 00:24:40,320 --> 00:24:45,480 Speaker 1: including masks in schools and vaccination requirements for businesses. Also today, 447 00:24:45,600 --> 00:24:48,480 Speaker 1: restaurants were no longer asked for proof of vaccination before 448 00:24:48,600 --> 00:24:51,640 Speaker 1: entering the world is about to hit a grim milestone. 449 00:24:51,720 --> 00:24:55,080 Speaker 1: We're approaching six million deaths because of COVID. The U 450 00:24:55,280 --> 00:24:58,760 Speaker 1: S has about one million deaths alone. Vice President Kamala 451 00:24:58,880 --> 00:25:02,720 Speaker 1: Harris visited self, Alabama, yesterday to commemorate at a fining 452 00:25:02,760 --> 00:25:05,879 Speaker 1: moment in the fight for equal voting rights. Harris linked 453 00:25:06,000 --> 00:25:08,840 Speaker 1: arms with activists from the civil rights movement and let 454 00:25:08,880 --> 00:25:12,040 Speaker 1: thousands across the Edmund Pettis Bridge, where on March seven, 455 00:25:13,600 --> 00:25:17,119 Speaker 1: white state troopers attack black voting rights marchers attempting to 456 00:25:17,160 --> 00:25:22,320 Speaker 1: cross their bravery is a reminder that freedom and democracy 457 00:25:23,119 --> 00:25:27,480 Speaker 1: can never be taken for granted. Vice President Harris also 458 00:25:27,640 --> 00:25:30,720 Speaker 1: called for lawmakers today to pass the John Lewis Voting 459 00:25:30,800 --> 00:25:35,040 Speaker 1: Rights Act. Florida state officials say all available resources, including 460 00:25:35,119 --> 00:25:38,040 Speaker 1: National Guard helicopters, have been brought in to fight two 461 00:25:38,119 --> 00:25:42,359 Speaker 1: large wildfires in Florida's Panhandle. Governor Rhonda Santis we are 462 00:25:42,440 --> 00:25:45,720 Speaker 1: working with really all hands on deck to be able 463 00:25:45,760 --> 00:25:49,320 Speaker 1: to mitigate this, and it's a really really significant certain 464 00:25:49,400 --> 00:25:52,840 Speaker 1: certainly multiple fires, a major fire, you know, out there 465 00:25:53,080 --> 00:25:56,199 Speaker 1: that we were able to see, According to Governor to Santis. 466 00:25:56,320 --> 00:25:59,520 Speaker 1: The Florida Forest Service says two fires in Bay County 467 00:25:59,600 --> 00:26:02,000 Speaker 1: are the big guest of nearly a hundred fifty wildfires 468 00:26:02,040 --> 00:26:04,879 Speaker 1: in the state that are burning more than twelve thousand acres. 469 00:26:05,320 --> 00:26:07,960 Speaker 1: Global News twenty four hours a day on air and 470 00:26:08,160 --> 00:26:11,400 Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven 471 00:26:11,520 --> 00:26:14,200 Speaker 1: under journalist and analysts more than a hundred twenty countries. 472 00:26:14,720 --> 00:26:17,639 Speaker 1: Michael Barr and this is Bloomberg, Nathan. Thank you, Michael. 473 00:26:22,080 --> 00:26:23,960 Speaker 1: Almost six thirty six on Wall Street time for the 474 00:26:23,960 --> 00:26:26,680 Speaker 1: Bloomberg Sports Update. Here again is John stash Hour. Nathan, 475 00:26:26,760 --> 00:26:28,720 Speaker 1: nothing unusual about the Knicks grabbing a big lead. What 476 00:26:28,840 --> 00:26:31,520 Speaker 1: was different last nut in l A. They held onto it. 477 00:26:31,680 --> 00:26:34,280 Speaker 1: Knicks last month lost three games when they were ahead 478 00:26:34,320 --> 00:26:36,800 Speaker 1: by more than twenty points. They blew a fourteen point 479 00:26:36,920 --> 00:26:39,159 Speaker 1: lead Friday in Phoenix. The Sun's won that game on 480 00:26:39,240 --> 00:26:41,560 Speaker 1: a banked in three point at the buzzer. That was 481 00:26:41,600 --> 00:26:43,639 Speaker 1: the nixt seventh loss in a row. But in l A, 482 00:26:44,240 --> 00:26:47,199 Speaker 1: Nicks faith Clipference one sixteen ninety three r J. Barrett 483 00:26:47,359 --> 00:26:49,680 Speaker 1: twenty four points. Great because we know we've been playing 484 00:26:49,720 --> 00:26:53,480 Speaker 1: extremely well overall. Definitely a couple of games that we 485 00:26:53,520 --> 00:26:55,919 Speaker 1: should have won, especially the last game, you know that one, right, 486 00:26:56,119 --> 00:26:58,520 Speaker 1: so coming here today and played like that from start 487 00:26:58,560 --> 00:27:01,240 Speaker 1: to finishing them. The bench played well. Manual quickly scored 488 00:27:01,280 --> 00:27:03,359 Speaker 1: twenty one. Cam Reddish at his best game as a 489 00:27:03,480 --> 00:27:06,440 Speaker 1: Nick was seventeen X play again tonight in Sacramento. Julius 490 00:27:06,520 --> 00:27:08,760 Speaker 1: Randall got thrown out of that game in Phoenix he 491 00:27:08,960 --> 00:27:11,720 Speaker 1: shoved a player he made contact with the RAF. Randall 492 00:27:11,760 --> 00:27:14,600 Speaker 1: has been fined fifteen thousand dollars. In Boston it was 493 00:27:14,680 --> 00:27:18,240 Speaker 1: Kevin Duran versus Jason tad Um Katie score thirty seven points. 494 00:27:18,600 --> 00:27:21,440 Speaker 1: Tatum went for fifty four thirty four in the second 495 00:27:21,480 --> 00:27:25,200 Speaker 1: half Celtics pet Nets on six to one. Twenty. Boston's 496 00:27:25,200 --> 00:27:28,920 Speaker 1: won fourteen to the last sixteen. Brooklyn has dropped seventeen 497 00:27:28,920 --> 00:27:31,240 Speaker 1: in the last twenty. The Nets are now under five hundred. 498 00:27:31,600 --> 00:27:34,200 Speaker 1: Rangers won four one at Winnipeg, two more goals for 499 00:27:34,320 --> 00:27:36,760 Speaker 1: Chris cryed Are now has thirty eighties, tied for second 500 00:27:37,080 --> 00:27:39,800 Speaker 1: in the NHL. Devil's the three two overtime went over St. 501 00:27:39,840 --> 00:27:42,639 Speaker 1: Louis W. Hamilton's at the game winner College Hoops a 502 00:27:42,680 --> 00:27:44,879 Speaker 1: scare for Rutgers, but the Scarlet Knights held on to 503 00:27:44,960 --> 00:27:48,239 Speaker 1: top Penn State fifty nine fifty eight. Much needed win 504 00:27:48,359 --> 00:27:50,480 Speaker 1: for Rutgers if they're able to gain entry to the 505 00:27:50,560 --> 00:27:53,199 Speaker 1: upcoming n c A tournament. Doll Scottie Scheffler, who won 506 00:27:53,200 --> 00:27:56,080 Speaker 1: in Phoenix last month, one again at bay Hill by 507 00:27:56,119 --> 00:27:59,680 Speaker 1: two shots. John stash ewin Bloomberg's court sleeping Okay, John, 508 00:27:59,760 --> 00:28:01,880 Speaker 1: thank you? At sixty seven on Wall Street. We want 509 00:28:01,880 --> 00:28:04,359 Speaker 1: to get more now on the commodity rally we are 510 00:28:04,480 --> 00:28:06,840 Speaker 1: seeing this morning on the latest developments of the war 511 00:28:06,840 --> 00:28:10,320 Speaker 1: in Ukraine. Bloomberg Intelligence commodity strategist Mike mcgloan is with 512 00:28:10,480 --> 00:28:13,159 Speaker 1: us this morning. Obviously a lot of attention on the 513 00:28:13,280 --> 00:28:17,880 Speaker 1: oil market this morning. Mike, how high could oil prices 514 00:28:17,960 --> 00:28:21,680 Speaker 1: go in this environment? And most people say unlimited levels, 515 00:28:21,720 --> 00:28:24,440 Speaker 1: But if you just you look at the extremes from 516 00:28:24,480 --> 00:28:27,480 Speaker 1: the Gulf, the all time high in two thousand and eight, 517 00:28:27,520 --> 00:28:30,240 Speaker 1: we're right about there right now, right now, we're two 518 00:28:30,400 --> 00:28:33,320 Speaker 1: point one time is the sixty month average. I use 519 00:28:33,400 --> 00:28:35,480 Speaker 1: that because it's a five year average in crudel. So 520 00:28:35,560 --> 00:28:38,440 Speaker 1: we're at the most extreme we've been in the last 521 00:28:38,480 --> 00:28:41,160 Speaker 1: forty years in crudel for rallies, And what the market 522 00:28:41,240 --> 00:28:43,480 Speaker 1: is doing is pricing in the risk of just a 523 00:28:43,520 --> 00:28:46,920 Speaker 1: complete shutdown of supply from Russia. Number One, that's probably 524 00:28:47,000 --> 00:28:48,960 Speaker 1: unlikely because that's all going to go to China. And 525 00:28:49,000 --> 00:28:52,240 Speaker 1: if you just consider Russia's exports maybe six percent of 526 00:28:52,320 --> 00:28:55,360 Speaker 1: total exports in the world, if we completely cut it off, 527 00:28:55,400 --> 00:28:57,640 Speaker 1: we've more than price set in. So right now we're 528 00:28:57,640 --> 00:29:01,760 Speaker 1: at the stage of maximum extreme hitting the stops, flushing 529 00:29:01,800 --> 00:29:04,240 Speaker 1: out all the weak positions. But just looking at extremes 530 00:29:04,320 --> 00:29:06,680 Speaker 1: the last forty years, we are very close right now 531 00:29:06,680 --> 00:29:08,880 Speaker 1: about a d two dollars a barrel as the peak 532 00:29:10,160 --> 00:29:13,000 Speaker 1: and the teak in two tho on a relative rally basis. 533 00:29:13,360 --> 00:29:15,440 Speaker 1: And you say the same about the rally we're seeing 534 00:29:15,440 --> 00:29:20,160 Speaker 1: in other commodities like heavy metals, like agricultural goods. Agriculture 535 00:29:20,240 --> 00:29:22,240 Speaker 1: is a little bit more different. In fact, agriculture is 536 00:29:22,240 --> 00:29:23,960 Speaker 1: pretty extreme. So let's look at wheat. This is the 537 00:29:24,160 --> 00:29:27,520 Speaker 1: second limit update in a row, which means there is 538 00:29:27,560 --> 00:29:30,160 Speaker 1: going to be many of positions who are getting stopped 539 00:29:30,160 --> 00:29:32,400 Speaker 1: out and they can't cover. There'll be many people getting hurt. 540 00:29:32,440 --> 00:29:35,760 Speaker 1: But this is an absolute boom for North American producers. 541 00:29:35,840 --> 00:29:38,440 Speaker 1: They'll do fine. The significance is in the longer term. 542 00:29:39,080 --> 00:29:41,720 Speaker 1: Russia is one of the largest suppliers of fertilizers for 543 00:29:41,920 --> 00:29:44,640 Speaker 1: most countries in the world, not the US. US is 544 00:29:44,720 --> 00:29:47,400 Speaker 1: very independent there, but they're going to have long and 545 00:29:47,480 --> 00:29:51,600 Speaker 1: enduring issues with low yields, which might keep prices high 546 00:29:51,640 --> 00:29:53,040 Speaker 1: for well. So I see what you see in the 547 00:29:53,120 --> 00:29:55,560 Speaker 1: screens now to me my main takeaways, this is going 548 00:29:55,600 --> 00:29:59,840 Speaker 1: to be an absolute boom for North American commodity producers, 549 00:30:00,000 --> 00:30:02,640 Speaker 1: most notably the corn bell will do very well. Man, 550 00:30:02,680 --> 00:30:04,840 Speaker 1: we'll probably peak soon, but they'll see well above the 551 00:30:04,920 --> 00:30:07,120 Speaker 1: prices they were the last ten years, five ten years, 552 00:30:07,400 --> 00:30:10,360 Speaker 1: and North American energy producers will do very well. Remember 553 00:30:10,400 --> 00:30:12,720 Speaker 1: the biggest issue in Europe right now is liquid fied 554 00:30:12,880 --> 00:30:16,400 Speaker 1: natural gas, and the largest liquefied natural gas explorter on 555 00:30:16,440 --> 00:30:19,080 Speaker 1: the planet is now US. So what you're seeing now 556 00:30:19,200 --> 00:30:20,880 Speaker 1: is going to be a boom for the producers, and 557 00:30:20,960 --> 00:30:22,480 Speaker 1: if we can get a little help from our government, 558 00:30:22,520 --> 00:30:24,840 Speaker 1: I think this will be like an arsenal democracy during 559 00:30:24,840 --> 00:30:27,160 Speaker 1: World War Two, where the US will really do well 560 00:30:27,200 --> 00:30:30,600 Speaker 1: in this environment. It's from a commodity production standpoint. Thanks 561 00:30:30,640 --> 00:30:31,920 Speaker 1: for this, Mike, Good to have you on with us. 562 00:30:32,000 --> 00:30:35,720 Speaker 1: Mike mcgloan is a commodity strategist at Bloomberg Intelligence. Just 563 00:30:35,840 --> 00:30:38,719 Speaker 1: taking a look at the crude market right now, Nimex 564 00:30:38,720 --> 00:30:41,280 Speaker 1: screws up six point one percent of seven dollars one 565 00:30:41,360 --> 00:30:44,680 Speaker 1: cent d dollars sixty nine cents for a barrel of 566 00:30:44,720 --> 00:30:47,920 Speaker 1: West Texas Intermediate Brent. The international benchmark is of five 567 00:30:47,960 --> 00:30:51,719 Speaker 1: point eight percent of six dollars and add five dollars 568 00:30:52,000 --> 00:30:55,360 Speaker 1: four cents. Natural gas features are up two point seven 569 00:30:55,440 --> 00:30:59,640 Speaker 1: percent at five fifteen. As for stocks, they are moving lower, 570 00:30:59,720 --> 00:31:02,400 Speaker 1: with S and P futures down sixty seven points down, 571 00:31:02,440 --> 00:31:06,720 Speaker 1: futures down five, Nasdaq futures down two points. In the 572 00:31:06,800 --> 00:31:09,600 Speaker 1: tenure treasury up one thirty second, the yield one point 573 00:31:09,680 --> 00:31:13,640 Speaker 1: seven to latest on the Biden administrations thinking about a 574 00:31:13,800 --> 00:31:17,320 Speaker 1: Russian oil embargo, will check in with Bloomberg Government Semily Wilkins. 575 00:31:17,440 --> 00:31:23,920 Speaker 1: Next to this is Bloomberg Bloomberg eleven three oh weather. 576 00:31:24,080 --> 00:31:26,880 Speaker 1: Showers and storms today with a high near seventy degrees, 577 00:31:27,040 --> 00:31:30,240 Speaker 1: mostly sunny, breezy, cooler Tomorrow, upper forties will be in 578 00:31:30,280 --> 00:31:33,160 Speaker 1: the mid forties, mostly cloudy by Wednesday, currently six one 579 00:31:33,320 --> 00:31:39,920 Speaker 1: in Central Park Markets. Headlines and breaking news twenty four 580 00:31:39,960 --> 00:31:42,960 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business 581 00:31:43,040 --> 00:31:46,680 Speaker 1: at and at Bloomberg Quick Tape is a Bloomberg Business 582 00:31:46,720 --> 00:31:55,760 Speaker 1: Flash and I'm Karen Moscow and US dot Index futures 583 00:31:55,800 --> 00:31:59,280 Speaker 1: are falling this morning, NIMEX, screwed oil is jumping. We 584 00:31:59,440 --> 00:32:01,800 Speaker 1: go to the first sword breaking news dask for today's 585 00:32:01,840 --> 00:32:06,400 Speaker 1: morning call, and here's Bill Maloney. Bill, good morning, Good morning, Karen. 586 00:32:06,440 --> 00:32:09,360 Speaker 1: That's right. US features are under pressure again today, with 587 00:32:09,440 --> 00:32:11,640 Speaker 1: doubt Future currently out four hundred and sixty eight points, 588 00:32:11,760 --> 00:32:14,360 Speaker 1: s A B S drop sixty two, MASTIC futures lower 589 00:32:14,440 --> 00:32:17,360 Speaker 1: by two hundred and nine, the US tenure yield at 590 00:32:17,360 --> 00:32:20,000 Speaker 1: one point seven three percent, Gold is up twenty oil 591 00:32:20,160 --> 00:32:23,400 Speaker 1: is climbing, and Bigcoin is down by two percent. Hong 592 00:32:23,480 --> 00:32:26,480 Speaker 1: Kong fell three point nine percent overnight, while up markets 593 00:32:26,520 --> 00:32:30,160 Speaker 1: are also under pressure, led by three percent losses in Germany. 594 00:32:30,560 --> 00:32:32,520 Speaker 1: Back in the US, on the economic front, three o'clock 595 00:32:32,560 --> 00:32:36,040 Speaker 1: consumer credit and a deal news Oasis Petroleum and Whitening 596 00:32:36,080 --> 00:32:38,320 Speaker 1: are close to a deal to merge. In other news, 597 00:32:38,400 --> 00:32:40,640 Speaker 1: Carl I kind of said to sell his remaining occidental 598 00:32:40,720 --> 00:32:45,560 Speaker 1: steak and Moody's cut rushes credit rating further into junk territory. 599 00:32:46,000 --> 00:32:48,840 Speaker 1: Rapid things up, Mosaic cut to hold that, HSBC City 600 00:32:48,840 --> 00:32:51,560 Speaker 1: Group cuts ahold of Jeffreys, Philip Morris cut to neutral 601 00:32:51,600 --> 00:32:53,760 Speaker 1: at JP Morgan and U S Steel was raised to 602 00:32:53,800 --> 00:32:57,320 Speaker 1: eco weight over at Morgan Stanley. Live from the First 603 00:32:57,440 --> 00:33:00,280 Speaker 1: Breaking News Descomb, Bill Maloney care Verry, Bill, thank you 604 00:33:00,400 --> 00:33:02,920 Speaker 1: to hear live breaking news over your Bloomberg tive squawk 605 00:33:03,000 --> 00:33:05,520 Speaker 1: on your terminal SCU A w K and that's a 606 00:33:05,520 --> 00:33:08,240 Speaker 1: Bloomberg business flash. Now here's Michael Barrow with more on 607 00:33:08,360 --> 00:33:11,560 Speaker 1: what's going on around the world. Michael, thank you very much, Karen. 608 00:33:11,640 --> 00:33:14,640 Speaker 1: Even as Russia announced the ceasefire starting this morning and 609 00:33:14,720 --> 00:33:18,480 Speaker 1: the opening of humanitarian corridors in several areas, it's armed 610 00:33:18,520 --> 00:33:23,320 Speaker 1: forces continued to pummel Ukrainian cities, rockets at residential buildings. 611 00:33:23,720 --> 00:33:26,480 Speaker 1: A large group of truck drivers who object the COVID 612 00:33:26,560 --> 00:33:29,440 Speaker 1: nineteen man dates drove two loops around the beltways surround 613 00:33:29,520 --> 00:33:33,800 Speaker 1: in Washington yesterday. They deliberately moved slowly to impact traffic 614 00:33:34,120 --> 00:33:37,320 Speaker 1: and make their feelings known to lawmakers in the NBA, 615 00:33:37,520 --> 00:33:40,600 Speaker 1: The next one the Celtics beat the Nets, one twenty 616 00:33:40,880 --> 00:33:43,640 Speaker 1: the Wizards one in the NHL, the Devil's beat the Blues, 617 00:33:43,680 --> 00:33:46,960 Speaker 1: and over time three two the Rangers one. Global News 618 00:33:47,040 --> 00:33:49,360 Speaker 1: twenty four hours a day on air and on bloom 619 00:33:49,760 --> 00:33:52,480 Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven 620 00:33:52,560 --> 00:33:55,440 Speaker 1: hundred journalists analyists more than a hundred twenty countries. Michael 621 00:33:55,480 --> 00:33:58,120 Speaker 1: bar this is Bloomberg. Karen, alright, Michael, thank you. At 622 00:33:58,160 --> 00:34:00,880 Speaker 1: sixty nine on Wall Street. We turned news and science 623 00:34:00,920 --> 00:34:03,240 Speaker 1: and technology. Now at the Bloomberg and j I T 624 00:34:03,360 --> 00:34:06,000 Speaker 1: STEM Report. It has brought to you by New Jersey 625 00:34:06,080 --> 00:34:08,920 Speaker 1: Institute of Technology n j I Team makes Infrastructure a 626 00:34:08,960 --> 00:34:13,760 Speaker 1: Ready graduates from civil engineers to transportations specialists. If it's infrastructure, 627 00:34:14,040 --> 00:34:16,160 Speaker 1: and j I T grads are building it. More at 628 00:34:16,280 --> 00:34:18,560 Speaker 1: n j I T dot e DU. Now here's this 629 00:34:18,680 --> 00:34:22,279 Speaker 1: making news and science, technology, engineering, and math. Account of 630 00:34:22,360 --> 00:34:26,560 Speaker 1: worldwide deaths from COVID nineteen is nearing six million. According 631 00:34:26,600 --> 00:34:30,000 Speaker 1: to data compiled by Johns Hopkins University and Bloomberg, the 632 00:34:30,120 --> 00:34:33,640 Speaker 1: US alone accounted for sixt of the last million deaths. 633 00:34:33,960 --> 00:34:37,160 Speaker 1: That's the highest share of any country COVID continues to 634 00:34:37,239 --> 00:34:41,320 Speaker 1: kill thousands of people every day. Billions more remain unvaccinated, 635 00:34:41,400 --> 00:34:44,480 Speaker 1: either because they lack access to the shots or unwilling 636 00:34:44,560 --> 00:34:47,560 Speaker 1: to receive them. Two years after the pandemic began New 637 00:34:47,680 --> 00:34:51,680 Speaker 1: Zealanders or finally facing its reality. After keeping the virus 638 00:34:51,800 --> 00:34:54,239 Speaker 1: at bay for so long, COVID is now tearing through 639 00:34:54,280 --> 00:34:58,440 Speaker 1: the nation's population courtesy of the highly infectious omicron variant. 640 00:34:58,760 --> 00:35:00,800 Speaker 1: In the space of two weeks, new case of numbers 641 00:35:00,880 --> 00:35:03,319 Speaker 1: exploded from less than a thousand a day to more 642 00:35:03,440 --> 00:35:06,439 Speaker 1: than twenty two thousand. And Apple will hold this first 643 00:35:06,480 --> 00:35:08,800 Speaker 1: event of the year tomorrow and you can expect updates 644 00:35:09,000 --> 00:35:12,040 Speaker 1: of the iPhone, iPad and maclaws and once again the 645 00:35:12,120 --> 00:35:15,000 Speaker 1: event will be virtual. It's also only the first of 646 00:35:15,200 --> 00:35:18,400 Speaker 1: many events this year, so Apple's product news will be 647 00:35:18,480 --> 00:35:21,200 Speaker 1: released gradually. And that's the Bloomberg n j I T 648 00:35:21,320 --> 00:35:23,920 Speaker 1: STEM Report. Nathan, Thank you, Karen. We are live from 649 00:35:23,960 --> 00:35:26,600 Speaker 1: the Bloomberg Interactive Broker Studios where it is six fifty 650 00:35:26,680 --> 00:35:28,680 Speaker 1: on Wall Street time now to check what's going on 651 00:35:28,760 --> 00:35:30,319 Speaker 1: in d C. Some of the tough stories in our 652 00:35:30,400 --> 00:35:33,319 Speaker 1: nation's capital include the Biden administration looking for more ways 653 00:35:33,360 --> 00:35:36,479 Speaker 1: to help Ukraine. As the war drags into its second week, 654 00:35:36,840 --> 00:35:40,000 Speaker 1: Secretary of State Antony B. Lincoln tells CBSS Face the Nation, 655 00:35:40,080 --> 00:35:42,759 Speaker 1: the US is working with Poland to send fighter jets 656 00:35:42,840 --> 00:35:45,319 Speaker 1: to the Ukrainians. That gets the green light. In fact, 657 00:35:45,360 --> 00:35:49,160 Speaker 1: we're talking with our Polish friends right now about what 658 00:35:49,320 --> 00:35:52,080 Speaker 1: we might be able to do to backfill their needs if, 659 00:35:52,280 --> 00:35:54,960 Speaker 1: in fact they choose to provide these fighter jets to 660 00:35:55,200 --> 00:35:57,760 Speaker 1: to the Ukrainians. But the US and NATO have rejected 661 00:35:57,800 --> 00:36:00,879 Speaker 1: calls for a no fly zone. Republicans editor Marco Ruby 662 00:36:00,960 --> 00:36:04,560 Speaker 1: hotels ABC's This Week that's the right call. People need 663 00:36:04,600 --> 00:36:06,480 Speaker 1: to understand what a no fly zone means. It's not 664 00:36:06,760 --> 00:36:09,000 Speaker 1: just it's not some rule you pass that everybody has 665 00:36:09,040 --> 00:36:12,040 Speaker 1: to oblige by. It's the willingness to shoot down the 666 00:36:12,120 --> 00:36:15,360 Speaker 1: aircraft of the Russian Federation, which is basically the beginning 667 00:36:15,360 --> 00:36:17,440 Speaker 1: of World War Three. Still, the White House is facing 668 00:36:17,520 --> 00:36:20,319 Speaker 1: more pressure to sanction Russian oil and gas, even if 669 00:36:20,400 --> 00:36:23,319 Speaker 1: it means higher prices at the pump. Democratic Senator Joe 670 00:36:23,400 --> 00:36:25,719 Speaker 1: Mansion was on NBC's Meet the Press, Look at the 671 00:36:25,760 --> 00:36:28,680 Speaker 1: gas not four dollars. It wasn't because of this inflation 672 00:36:28,719 --> 00:36:31,359 Speaker 1: is already reach havoc on it now, And basically we're 673 00:36:31,400 --> 00:36:33,080 Speaker 1: gonna say we're gonna set back now because we're fraid 674 00:36:33,080 --> 00:36:34,440 Speaker 1: it might go up a little bit more. It might 675 00:36:34,480 --> 00:36:36,480 Speaker 1: go up anyway, and we haven't done nothing. Meet the 676 00:36:36,520 --> 00:36:38,600 Speaker 1: Press this week and Face the Nation can all be 677 00:36:38,680 --> 00:36:41,440 Speaker 1: heard every Sunday right here on Bloomberg Radio. And for more, 678 00:36:41,480 --> 00:36:44,440 Speaker 1: we're joined by Bloomberg Government reporter Emily Wilkins from our 679 00:36:44,480 --> 00:36:49,160 Speaker 1: Bloomberg studios in Washington, d C. So this morning, after Emily, 680 00:36:49,239 --> 00:36:51,640 Speaker 1: now we are hearing that the White House is getting 681 00:36:51,680 --> 00:36:56,879 Speaker 1: closer to a potential ban on Russian oil and gas imports. Yes, 682 00:36:57,040 --> 00:37:00,760 Speaker 1: we saw how Speaker Nancy Pelosi, who announced the past 683 00:37:00,800 --> 00:37:03,799 Speaker 1: week that she was supportive of such a ban, uh 684 00:37:03,880 --> 00:37:07,200 Speaker 1: tell lawmakers that the House is working on legislation that 685 00:37:07,400 --> 00:37:11,040 Speaker 1: could ban Russian oil imports. But we also know that 686 00:37:11,080 --> 00:37:14,440 Speaker 1: the Biden administration is considering such a ban, their debating 687 00:37:14,560 --> 00:37:19,240 Speaker 1: moving forward without their European allies, at least initially. Secretary 688 00:37:19,280 --> 00:37:22,040 Speaker 1: of State Anthony B. Lincoln he was in Eastern Europe 689 00:37:22,480 --> 00:37:25,280 Speaker 1: over the weekend, and he told NBC's Meet the Press 690 00:37:25,360 --> 00:37:28,680 Speaker 1: that the US is an active discussion with European allies 691 00:37:28,800 --> 00:37:32,480 Speaker 1: about banning Russian oil um B. Lincoln added that oil 692 00:37:32,520 --> 00:37:36,000 Speaker 1: surprise as would need to be ensured if that happened, 693 00:37:36,200 --> 00:37:39,359 Speaker 1: and their discussions actually going on with Venezuela right now 694 00:37:39,520 --> 00:37:42,880 Speaker 1: to see if they could potentially increase their production. I mean, 695 00:37:42,960 --> 00:37:46,680 Speaker 1: the big concern here for the Biden administration, for Democrats 696 00:37:46,760 --> 00:37:49,520 Speaker 1: in general, is that this is going to leave to 697 00:37:49,719 --> 00:37:52,880 Speaker 1: higher gas prices at a time where so many Americans 698 00:37:52,920 --> 00:37:56,920 Speaker 1: are already feeling squeezed by inflation. But as you heard 699 00:37:57,000 --> 00:38:00,200 Speaker 1: Senator Joe Manchin say in that clip, there's also a 700 00:38:00,280 --> 00:38:03,080 Speaker 1: growing sense that the US needs to do whatever it 701 00:38:03,200 --> 00:38:06,000 Speaker 1: can at this point to put pressure on Russia to 702 00:38:06,320 --> 00:38:09,880 Speaker 1: end their invasion of Ukraine, UH, to come to the table, 703 00:38:10,120 --> 00:38:13,239 Speaker 1: and and to to sort of take the diplomacy route again. 704 00:38:13,680 --> 00:38:16,480 Speaker 1: And so this is something that lawmakers seemed very willing 705 00:38:16,560 --> 00:38:18,800 Speaker 1: to do, even if it does mean that there is 706 00:38:18,840 --> 00:38:21,760 Speaker 1: going to be some additional pain at the gas pump. 707 00:38:22,480 --> 00:38:24,279 Speaker 1: Is this the kind of thing that Congress could go 708 00:38:24,440 --> 00:38:28,279 Speaker 1: ahead with on its own? I'm asking what what more 709 00:38:28,520 --> 00:38:31,400 Speaker 1: Congress is thinking about in terms of the kinds of 710 00:38:31,480 --> 00:38:35,120 Speaker 1: sanctions pressure it could put on. Yeah, So this is 711 00:38:35,200 --> 00:38:37,800 Speaker 1: something where if you remember, Congress was actually considering a 712 00:38:37,880 --> 00:38:41,080 Speaker 1: sanctions package before the Biden administration moved. Part of the 713 00:38:41,120 --> 00:38:43,480 Speaker 1: reason was that they couldn't come to an agreement on that, 714 00:38:43,920 --> 00:38:46,240 Speaker 1: but a lot of that was about the timing of sanctions. 715 00:38:46,360 --> 00:38:48,880 Speaker 1: So there is a little bit more consensus at this 716 00:38:49,000 --> 00:38:53,600 Speaker 1: point now that Russia has already invaded um. Pelosi said 717 00:38:53,640 --> 00:38:56,640 Speaker 1: that potential legislation from the House could, in addition to 718 00:38:56,800 --> 00:39:00,439 Speaker 1: the oil band, also repeal normal trade relations with both 719 00:39:00,560 --> 00:39:03,960 Speaker 1: Russia and Belarus, as well as take the first steps 720 00:39:04,000 --> 00:39:07,200 Speaker 1: to deny Russia access to the World Trade Organization and 721 00:39:07,360 --> 00:39:10,560 Speaker 1: allow the White House to increase tariffs on Russian imports. 722 00:39:10,920 --> 00:39:14,040 Speaker 1: So certainly lawmakers think that there is more that can 723 00:39:14,120 --> 00:39:16,839 Speaker 1: be done here, although we don't at this point don't 724 00:39:16,880 --> 00:39:19,279 Speaker 1: really have a sense of when the House might take 725 00:39:19,360 --> 00:39:22,040 Speaker 1: up that piece of legislation. Pelosi said that they were 726 00:39:22,160 --> 00:39:25,040 Speaker 1: exploring it, which makes it sound like this won't be 727 00:39:25,120 --> 00:39:28,520 Speaker 1: something that happens quickly, especially given the fact that Congress 728 00:39:28,600 --> 00:39:31,360 Speaker 1: this week will be focused on passing funding so the 729 00:39:31,440 --> 00:39:35,160 Speaker 1: government doesn't shut down on Friday. Oh that's coming up 730 00:39:35,239 --> 00:39:39,080 Speaker 1: as well. Okay. Now, in the meantime, Yeah, there's also 731 00:39:39,200 --> 00:39:43,840 Speaker 1: been some question about what effect if any Russian sanctions 732 00:39:43,920 --> 00:39:46,680 Speaker 1: could have on the Iran nuclear deal because of course 733 00:39:46,760 --> 00:39:48,840 Speaker 1: Russia is a party to that, and there was this 734 00:39:49,000 --> 00:39:52,880 Speaker 1: demand over the weekend from Russia that any sanctions wouldn't 735 00:39:52,920 --> 00:39:56,920 Speaker 1: have any impact on their trade with Iran. What's the 736 00:39:57,120 --> 00:40:01,240 Speaker 1: White House response to that. I mean, they are staying 737 00:40:01,280 --> 00:40:04,960 Speaker 1: at this point. Um. Anthony B. Lincoln told CBS that 738 00:40:05,200 --> 00:40:08,160 Speaker 1: it's really not in Russia's interest for Iran not to 739 00:40:08,239 --> 00:40:11,280 Speaker 1: be able to have a nuclear weapon. Um that Russia, 740 00:40:11,400 --> 00:40:13,319 Speaker 1: you know that there is a reason that they need 741 00:40:13,440 --> 00:40:17,640 Speaker 1: to be at the table um and discussing this, and um, 742 00:40:17,800 --> 00:40:21,200 Speaker 1: you know, over the weekend there was some major progress made. 743 00:40:21,600 --> 00:40:25,360 Speaker 1: Iran did agree to help the International Atomic Energy Agency 744 00:40:25,800 --> 00:40:30,440 Speaker 1: finished this contentious investigation into the country's past actions, and 745 00:40:30,520 --> 00:40:33,120 Speaker 1: so it does seem like progress is being made with 746 00:40:33,320 --> 00:40:36,399 Speaker 1: the Iran nuclear deal. One of the big hurdles left 747 00:40:36,600 --> 00:40:38,840 Speaker 1: is that Anthony Lincoln still needs to meet with his 748 00:40:39,080 --> 00:40:42,800 Speaker 1: Israeli counterpart in Israel has really opposed this steal, and 749 00:40:42,920 --> 00:40:45,360 Speaker 1: so there is one of the challenges that that remains 750 00:40:45,400 --> 00:40:49,560 Speaker 1: at this point. Many challenges coming out of Washington that 751 00:40:49,600 --> 00:40:51,239 Speaker 1: I know you're going to be keeping on top of 752 00:40:51,880 --> 00:40:54,560 Speaker 1: for the days and weeks to come. Bloomberg Government reporter 753 00:40:54,640 --> 00:40:57,799 Speaker 1: Emily Wilkins with us from the nation's capital. You can 754 00:40:57,880 --> 00:41:00,600 Speaker 1: read more about all these stories on bloomber dot com 755 00:41:00,800 --> 00:41:03,360 Speaker 1: or on the Bloomberg terminal, and follow the latest on 756 00:41:03,400 --> 00:41:07,799 Speaker 1: Bloomberg Radio in Washington Bloomberg and one oh five point 757 00:41:07,920 --> 00:41:11,160 Speaker 1: seven FM HD two. Karen, all right, Nathan, thank you. 758 00:41:11,280 --> 00:41:13,520 Speaker 1: It is six fifties six on Wall Street, and this 759 00:41:13,800 --> 00:41:17,320 Speaker 1: is Bloomberg Day Break. March is Women's History Month, and 760 00:41:17,400 --> 00:41:21,560 Speaker 1: every day this month we're celebrating significant moments in women's history. Now, 761 00:41:21,640 --> 00:41:24,800 Speaker 1: if your installment for March seventh, here is Bloomberg's renny 762 00:41:24,880 --> 00:41:27,200 Speaker 1: to young well on this day in women's history. In two, 763 00:41:27,960 --> 00:41:31,040 Speaker 1: Catherine Bigelow becomes the first woman to win an Academy 764 00:41:31,080 --> 00:41:34,640 Speaker 1: Award for Best Director. It was for the hurt Locker 765 00:41:35,080 --> 00:41:38,880 Speaker 1: Bigelow Study painting at the San Francisco Art Institute. In 766 00:41:38,960 --> 00:41:41,479 Speaker 1: the early nineteen seventies, she moved to New York City 767 00:41:41,520 --> 00:41:45,480 Speaker 1: to participate in the Whitney Museum's independent study program. She 768 00:41:45,680 --> 00:41:49,440 Speaker 1: soon became interested in filmmaking and eventually earned a scholarship 769 00:41:49,760 --> 00:41:53,760 Speaker 1: to the Graduate Film School at Columbia University. After graduation, 770 00:41:53,880 --> 00:41:57,000 Speaker 1: she began working on her first feature length movie, The Loveless, 771 00:41:57,200 --> 00:42:00,040 Speaker 1: which she co wrote and co directed. Bigelow had a 772 00:42:00,160 --> 00:42:03,120 Speaker 1: stint at teaching at the California Institute of the Arts 773 00:42:03,200 --> 00:42:05,880 Speaker 1: in the nineteen eighties before returning to the big screen. 774 00:42:06,320 --> 00:42:08,880 Speaker 1: She continued to be a box office success with several 775 00:42:09,000 --> 00:42:13,000 Speaker 1: films and solidified her place in the traditionally male dominated 776 00:42:13,080 --> 00:42:17,120 Speaker 1: world of action films. That's today in women's history. I'm 777 00:42:17,320 --> 00:42:21,040 Speaker 1: Nita Young Bloomberg Radio, Right Granita, thank you, and right now, 778 00:42:21,200 --> 00:42:24,760 Speaker 1: futures are lower. SNP Future is down fifty three points 779 00:42:24,840 --> 00:42:27,400 Speaker 1: and down Future is down four hundred six and NAZZAG 780 00:42:27,480 --> 00:42:31,800 Speaker 1: futures down one eight ten year treasury down three thirties seconds. 781 00:42:31,880 --> 00:42:34,960 Speaker 1: He had one point seven four percent, and they yield 782 00:42:35,080 --> 00:42:37,319 Speaker 1: on the two years at one point for a nine 783 00:42:37,400 --> 00:42:40,640 Speaker 1: percent and nine ex Screte oil is up seven point 784 00:42:40,880 --> 00:42:43,600 Speaker 1: one percent and a hundred twenty three dollars eighty nine 785 00:42:43,680 --> 00:42:46,920 Speaker 1: cents of barrel for Nathan Hagar. I'm Karen Moscow. This 786 00:42:47,600 --> 00:42:48,200 Speaker 1: is Broomberg.