WEBVTT - Bloomberg Daybreak: October 10, 2022 - Hour 2 (Radio) 0:00:01.200 --> 0:00:04.439 Live from the Bloomberg Interactive Brooker's Studios. This is Bloomberg 0:00:04.519 --> 0:00:08.280 day Break for Monday, October two. Coming up this hour, 0:00:08.520 --> 0:00:11.680 stocks tick lower following a volatile week on Wall Street. 0:00:11.760 --> 0:00:15.120 Investors await key inflation data and the kickoff of earning season. 0:00:15.200 --> 0:00:18.240 Good earning sends stocks even lower. We'll have the results 0:00:18.239 --> 0:00:21.520 of a Bloomberg poll and Rockets strike keif after Vladimir 0:00:21.520 --> 0:00:24.560 Plutin blames you Craine for targeting a crucial bridge to 0:00:24.680 --> 0:00:27.280 CRIMEA shots rang out near the Long Island home of 0:00:27.320 --> 0:00:31.080 Republican Booblin Etorio candidate leaves Elbot plus demonstrations growing the 0:00:31.160 --> 0:00:34.560 run involving the so called morality police. On Michael larn More, 0:00:35.000 --> 0:00:38.040 I'm Stationwar Sports. The Mets season is over, shut out 0:00:38.120 --> 0:00:40.880 by the Padres of the decisive game three wins with 0:00:40.960 --> 0:00:46.480 the Giants and Jets. That's All's train ahead on Bloomberg 0:00:46.560 --> 0:00:51.600 day Break on Bloomberg eleven three on New York, Bloomberg one, Washington, 0:00:51.720 --> 0:00:55.360 d C, Bloomberg one oh six one, Boston, Bloomberg nine 0:00:55.400 --> 0:00:59.200 sixties and Francisco Sirius x AM one nine Team and 0:00:59.280 --> 0:01:02.040 around the World Old on Bloomberg Radio dot Com and 0:01:02.200 --> 0:01:09.120 via the Bloomberg Business. Good morning, I'm Nathan Hagar and 0:01:09.160 --> 0:01:12.240 I'm Karen Moscow, u ust On indext futures are lower 0:01:12.280 --> 0:01:14.280 this morning. We are coming up to six oh one 0:01:14.280 --> 0:01:16.319 on Wall Street and we check the markets every fifteen 0:01:16.319 --> 0:01:18.760 minutes throughout the trading day. On Bloomberg. S and P 0:01:18.959 --> 0:01:21.959 future is down about five points right now. DAL futures 0:01:22.040 --> 0:01:25.360 down eight and NASTAGG futures down at twenty four. And 0:01:25.400 --> 0:01:27.479 there is no trading on the bond market today. It's 0:01:27.480 --> 0:01:30.480 closed and observance of Columbus Day and Indigenous People's Day. 0:01:30.720 --> 0:01:33.319 Nimix Screwed oil is down six tenths of uper sent 0:01:33.520 --> 0:01:35.760 Nathan and Karen, we begin with news that broke about 0:01:35.760 --> 0:01:38.600 ten minutes ago. Former FED Chairman Ben Bernankey, along with 0:01:38.600 --> 0:01:42.200 Douglas Diamond and Philip Divvig, have been awarded the two 0:01:42.319 --> 0:01:46.280 Nobel Prize in Economics for research on banks and financial crises. 0:01:46.360 --> 0:01:48.880 The three are all US based economists and will share 0:01:48.920 --> 0:01:51.720 the nine hundred thousand dollar reward. Well, we turned to 0:01:51.760 --> 0:01:54.160 the markets, Nathan, and as I said just moments ago, 0:01:54.240 --> 0:01:56.480 futures are lower as we begin a new trading week. 0:01:56.560 --> 0:01:58.840 The S and P five hundred is started last week 0:01:58.840 --> 0:02:01.200 with its biggest two day alley since the onset of 0:02:01.280 --> 0:02:03.920 the pandemic, only to fall in the final three days, 0:02:04.000 --> 0:02:07.040 capped off by Friday's jobs report. Investors are vetting the 0:02:07.040 --> 0:02:10.560 Fed will continue with aggressive hiking trail. Brian Jacobson has 0:02:10.600 --> 0:02:14.520 senior investment strategist at all Spring Global Investments. You know 0:02:14.639 --> 0:02:18.120 Net Davis was famous for a lot of his wisdom, 0:02:18.560 --> 0:02:21.120 the trend is your friend, and don't fight the Fed. 0:02:21.320 --> 0:02:23.800 But now you can kind of paraphrase it by saying, 0:02:23.960 --> 0:02:27.240 don't fight the trend because the Fed isn't your friend 0:02:27.360 --> 0:02:30.760 and the trend, unfortunately, is towards weakness. All Spring Global 0:02:30.800 --> 0:02:33.800 Investments Brian Jacobson believes the Fed will keep going with 0:02:33.880 --> 0:02:37.799 hawkish policy tightening me and Asia Karen shares tumble tomid 0:02:37.880 --> 0:02:41.560 intensifying concern over rising global interest rates, and as Chinese 0:02:41.560 --> 0:02:44.920 investors returned from a week long holiday to tighter restrictions 0:02:44.919 --> 0:02:48.280 on American technology. Let's get the recap from Bloomberg's Juliette 0:02:48.280 --> 0:02:51.239 Sally in Singapore. Good morning, Nathan and Karen. Chinese stokes 0:02:51.240 --> 0:02:53.600 fail on their return from the Golden Week holiday. Hut 0:02:53.600 --> 0:02:56.440 by a global equity seale off and blake holiday spending 0:02:56.480 --> 0:03:00.480 data that deepened concerns about the economic recovery. The cs 0:03:00.520 --> 0:03:03.120 I three hundred was training at April twenty twenty lows. 0:03:03.480 --> 0:03:06.680 Tech dogs fell amid renewed Signo US tensions with the 0:03:06.680 --> 0:03:10.280 Hang Seng Tech indexit January twenty nineteen lows, they'll show 0:03:10.280 --> 0:03:12.800 you one strengthened after the p BOC set are stronger, 0:03:12.840 --> 0:03:15.520 you want fixed For a record twenty eight day, the 0:03:15.520 --> 0:03:19.000 Ossie dollar fell to April twenty twenty lows. Markets in Japan, 0:03:19.160 --> 0:03:22.919 South Korea and Taiwan were closed in Singapore. Juliet Sally 0:03:23.000 --> 0:03:25.960 Bloomberg daybreak. All right, Juliet, thank you. Our stocks are 0:03:26.000 --> 0:03:28.040 also following in Europe to begin the week, and we 0:03:28.120 --> 0:03:30.160 go to London and get the leaders for the Bloombergs. 0:03:30.200 --> 0:03:32.640 You and parts you and good morning, Good morning Nathan 0:03:32.639 --> 0:03:35.320 and Karen A Gloomy started trading here in Europe as well, 0:03:35.320 --> 0:03:37.760 with every major stock markets in the red this morning. 0:03:37.920 --> 0:03:41.080 Consumer products, tech and utilities among the mixed bag of 0:03:41.120 --> 0:03:44.480 sectors for feeling the precious most so far. The Bank 0:03:44.520 --> 0:03:46.840 of England, meanwhile, says it's stepping up its support for 0:03:46.880 --> 0:03:49.560 the UK bond market, which sold off after the government's 0:03:49.600 --> 0:03:52.920 disastrous mini budget statements. The bank's aim is to provide 0:03:53.000 --> 0:03:55.880 longer term support for a wider range of securities over 0:03:55.880 --> 0:03:58.520 the coming weeks. In London, I'm you and pot Spoinberg Daybreak, 0:03:58.560 --> 0:04:00.080 All right you and thanks. Back here in the u 0:04:00.240 --> 0:04:03.800 S Alian's chief economic advisor Muhammad al Arians continuing his 0:04:03.880 --> 0:04:06.640 criticism of the FED. He's blaming the Central Bank for 0:04:06.680 --> 0:04:08.920 what he calls the very high risk of a recession. 0:04:09.200 --> 0:04:12.040 Not only does it have to overcome inflation, but it 0:04:12.080 --> 0:04:15.720 has to restore credibility. So yes, I fear that we 0:04:16.200 --> 0:04:19.760 with a very high probability of a damaging recession that 0:04:19.920 --> 0:04:24.480 was totally avoidable. Alian's chief economic advisor and Bloomberg contributor, 0:04:24.560 --> 0:04:27.520 Muhammad al Arian made the comments on CBSS Face the Nation, 0:04:27.600 --> 0:04:30.479 Catch the program Sundays on Bloomberg Radio. Well on the 0:04:30.520 --> 0:04:33.160 economic front this week, Nathan Magame minutes from the FED 0:04:33.240 --> 0:04:36.240 September meeting, as well as key readings on inflation. The 0:04:36.320 --> 0:04:39.680 Producer Price Index comes out on Wednesday, followed by consumer 0:04:39.760 --> 0:04:42.840 prices on Thursday. Earning season begins this week too, when 0:04:42.880 --> 0:04:46.480 we get a preview from Bloomberg's Turnley Pellet Banks including JP, 0:04:46.600 --> 0:04:50.000 Morgan Chase, City Group, Wells Fargo, and Morgan Stanley will 0:04:50.040 --> 0:04:53.279 be front and centator as companies report third quarter results 0:04:53.480 --> 0:04:58.400 amid a rising rate environment, higher energy costs, and geopolitical uncertainty. 0:04:58.760 --> 0:05:02.680 Jessica Biemer is poor folio manage to with easterly investment partners. 0:05:02.880 --> 0:05:06.560 I'm actually really excited to share from companies because they 0:05:07.240 --> 0:05:10.120 are able to really give us obviously some perhaps short 0:05:10.240 --> 0:05:13.200 term negatives, but long term guidance on how they plan 0:05:13.320 --> 0:05:15.760 to react to the current environment that tends to be 0:05:15.800 --> 0:05:18.040 a good thing for stocks. This week will also hear 0:05:18.080 --> 0:05:21.760 from black Rock, Delta Airlines, PepsiCo p n C, and 0:05:22.160 --> 0:05:25.880 United Health in New York Charlie Pellock Bloomberg day Break. 0:05:26.000 --> 0:05:28.680 Thanks Charlie. The investors don't expect this earning season to 0:05:28.720 --> 0:05:31.360 be a pretty one. More than six of respondence to 0:05:31.400 --> 0:05:34.080 the latest Bloomberg m Live Pulse survey say earnings will 0:05:34.080 --> 0:05:37.720 push the SNP even lower. About half of pull participants 0:05:37.760 --> 0:05:40.880 also expect equity valuations to pull back even further from 0:05:40.880 --> 0:05:44.039 their average of the past decade. A strong dollar is 0:05:44.120 --> 0:05:46.720 also likely to be a head wind during this earning season, 0:05:46.800 --> 0:05:49.360 Nathan As. According to strategist at Goldman Sachs, who say 0:05:49.400 --> 0:05:53.080 US companies generated thirty percent of revenues overseas. The bank 0:05:53.160 --> 0:05:57.960 also says elevated inflation and high inventories pose risk to earnings. 0:05:58.160 --> 0:06:01.200 In geopolitical news, karen Kiev has been hit by explosions 0:06:01.240 --> 0:06:03.400 this morning, two days after an attack on a key 0:06:03.480 --> 0:06:07.200 bridge between Crimea and Russia. Ukrainian official says at least 0:06:07.200 --> 0:06:09.800 eight people have been killed in another twenty four wounded 0:06:09.839 --> 0:06:13.640 in today's strikes. Russian President Vladimir Putin is blaming Ukraine 0:06:13.680 --> 0:06:16.320 for the bridge attack. He meets with a security council today. 0:06:16.640 --> 0:06:19.680 Ukrainian President Vladimir Zolenski appeared to make a not so 0:06:19.760 --> 0:06:22.279 subtle mention of the bridge attack and his daily address 0:06:23.279 --> 0:06:25.560 today was a good and mostly sunny day on the 0:06:25.640 --> 0:06:29.760 territory of our state. Unfortunately it was cloudy in Crimea, 0:06:29.839 --> 0:06:32.960 although it is also warm. But no matter how cloudy 0:06:32.960 --> 0:06:35.359 it is, Ukrainians know what to do and they know 0:06:35.480 --> 0:06:39.120 that our future is sunny. Ukrainian President Vladimir Zolenski spoke 0:06:39.160 --> 0:06:42.880 there through a translator. Well. On another geo political flash point, 0:06:42.960 --> 0:06:46.400 Nathan Taiwan says there will be no compromise on its 0:06:46.440 --> 0:06:50.239 sovereignty or democracy. That came hours after Elon must tweeted 0:06:50.240 --> 0:06:52.360 that the self rude island should adopt a Hong Kong 0:06:52.440 --> 0:06:56.120 style governance model. China's hailing the idea, but Taiwan President 0:06:56.279 --> 0:06:59.440 Cyan Waan says Beijing should not make any misjudgment on 0:06:59.440 --> 0:07:02.760 accounted I want to be or risk democratic system SMP 0:07:02.880 --> 0:07:05.640 futures right now are down five points, down, futures down 0:07:05.640 --> 0:07:08.480 seventeen and NASTAC futures are lower by thirty points. No 0:07:08.640 --> 0:07:11.800 treasury trading today. It is a federal holiday and observance 0:07:11.800 --> 0:07:14.640 of Columbus Day and Indigenous People's Day. Straight ahead, your 0:07:14.680 --> 0:07:18.240 latest local headlines and a check of sports. This is 0:07:18.440 --> 0:07:25.280 Bloomberg and it is down six oh seven on Wall 0:07:25.320 --> 0:07:28.480 Street where fifty two degrees in Central Park. We gotta 0:07:28.480 --> 0:07:32.280 crash westbound Belt Parkway and Merrick Boulevard. Michael Barr has 0:07:32.320 --> 0:07:34.200 more on what's going on in New York and around 0:07:34.200 --> 0:07:36.640 the world. Michael, thank you very much. Nathan. Police say 0:07:36.680 --> 0:07:40.400 there's no apparent connection between a shooting outside Lee's Elden's 0:07:40.440 --> 0:07:43.840 home in Shirley Long Island Sunday afternoon and the Republican 0:07:43.840 --> 0:07:47.600 nominee for New York governor. Investigators say two teenage boys 0:07:47.640 --> 0:07:50.400 tried to hide under Zelden's front porch after the drive 0:07:50.480 --> 0:07:54.160 bon shooting. Elden's has his twin teenage daughters were home 0:07:54.200 --> 0:07:56.960 at the time, and when they heard the gunshots, they 0:07:57.000 --> 0:07:59.600 locked themselves in a bathroom and called nine one one. 0:08:00.160 --> 0:08:03.160 Speaking to reporters outside his home, the New York congressman 0:08:03.200 --> 0:08:07.600 said the shooting is representative of a larger problem with society. 0:08:07.840 --> 0:08:10.600 At what point are we supposed to talk about the 0:08:10.600 --> 0:08:13.040 crime on our own streets. I'm standing in front of 0:08:13.040 --> 0:08:18.040 crime scene tape in front of my own house. You 0:08:18.080 --> 0:08:21.800 can't get me more outraged than right now. Congressman's Elden's 0:08:21.840 --> 0:08:24.680 has his security cameras photographed to people the two people 0:08:24.760 --> 0:08:28.400 shot for taking to hospitals. More Republicans are pledging support 0:08:28.400 --> 0:08:32.120 for Herschel Walker, the Senate GOP candidates in Georgia, is 0:08:32.160 --> 0:08:34.800 facing fallout over reports that he once paid for an 0:08:34.800 --> 0:08:39.440 ex girlfriend's abortion. The Republican Senatorial Committee chair, Senator Rick Scott, 0:08:39.679 --> 0:08:43.240 will campaign with Walker, who is a staunch anti abortion candidate. 0:08:43.679 --> 0:08:46.680 Democratic Senator Raphael Warnock holds a slight lead in the 0:08:46.720 --> 0:08:51.040 polls in the state violent anti government protests are intensifying 0:08:51.080 --> 0:08:54.120 and spreading it around. Sparked by anger over the killing 0:08:54.120 --> 0:08:56.079 of a woman who was arrested by the so called 0:08:56.120 --> 0:08:59.959 morality police and then dying in police custody. The protest 0:09:00.080 --> 0:09:03.080 us starting four weeks ago with the death of twenty 0:09:03.120 --> 0:09:06.400 two year old Masha Cominy for allegedly wearing her her 0:09:06.480 --> 0:09:11.400 job improperly. One woman protesting in Iran says enough is enough. Meanwhile, 0:09:11.600 --> 0:09:16.920 Iran analysts Holly Dagrus says, these demonstrations are extraordinary. They're 0:09:17.000 --> 0:09:20.600 changing death to the dictator, death to hominy. They're removing 0:09:20.640 --> 0:09:24.800 their head scarves. There's been viral videos of Iranian girls 0:09:25.200 --> 0:09:29.080 flipping the bird at the supreme meter of Iran's photo 0:09:29.400 --> 0:09:34.280 or stomping on his photoing classrooms. Analysts Holly Dagrus. North 0:09:34.360 --> 0:09:37.240 Korean leader Kim John said he launched a new ballistic 0:09:37.240 --> 0:09:41.520 missile and simulated tactical nuclear strikes during recent military drills. 0:09:41.840 --> 0:09:44.040 It is the latest sign that North Korea is preparing 0:09:44.040 --> 0:09:47.120 for its first atomic test in five years. Global News 0:09:47.120 --> 0:09:50.160 twenty four hours a day on air and on Bloomberg Quicktake, 0:09:50.320 --> 0:09:53.040 powered by more than journalists and analysts more than a 0:09:53.120 --> 0:09:56.880 hundred twenty countries. Michael Barron, this is Bloomberg Naked. Thanks Michael, 0:10:01.520 --> 0:10:03.199 going up to a six ten on Wall Street. Time 0:10:03.240 --> 0:10:05.920 for the Bloomberg Sports Update with John Stetshow all right, Nathan. 0:10:05.920 --> 0:10:08.400 Only one Mets team in their history won more games 0:10:08.400 --> 0:10:11.439 than this one. That was six, which also happens to 0:10:11.480 --> 0:10:13.120 be the last time the Mets won the World Series. 0:10:13.120 --> 0:10:14.760 This team won a hundred and one games, where that 0:10:14.840 --> 0:10:16.959 was not enough to even win the division, and the 0:10:17.040 --> 0:10:18.959 concern was that the Mets were now I'm gonna have 0:10:19.000 --> 0:10:21.760 to play a short, best of three wild card series 0:10:21.760 --> 0:10:23.680 where they could run into some good pitching and be 0:10:23.760 --> 0:10:26.319 out quickly. And that's exactly what happened the Padres You 0:10:26.480 --> 0:10:29.079 Darvish shut him down in Game one, and Joe musgro 0:10:29.360 --> 0:10:31.959 was dominant last night's Game three. In fact, his stat 0:10:32.000 --> 0:10:35.560 line seven scoreless innings, only one hit allowed, the best 0:10:35.559 --> 0:10:38.760 in postseason history. In a winner take all games, San 0:10:38.760 --> 0:10:42.040 Diego won six to nothing to advance to play the Dodgers. 0:10:42.040 --> 0:10:44.880 The Yankees Game one with Cleveland at the stadium tomorrow night. 0:10:44.920 --> 0:10:47.480 Yanks had a mandatory workout last Friday. The oldest Chapman 0:10:47.520 --> 0:10:49.839 did not show up. There was talk the Yanks for 0:10:49.920 --> 0:10:51.679 not going to put them on their playoff roster, and 0:10:51.720 --> 0:10:54.079 now they definitely won't. Chapman's gonna be a free agent, 0:10:54.120 --> 0:10:57.000 so safe to say his Yankee career is over. As 0:10:57.000 --> 0:10:58.920 for New York football, the Jets of three and two, 0:10:59.040 --> 0:11:01.240 first times the two has seventeen. They blew out in 0:11:01.280 --> 0:11:04.040 Miami forty to seventeen for their first home win, their 0:11:04.040 --> 0:11:06.920 first win within the a f C East in almost 0:11:07.000 --> 0:11:10.120 three years. Rookie running back Breece Hall rush for nineties 0:11:10.120 --> 0:11:12.520 seven yards, also had a seventy nine yards reception. The 0:11:12.640 --> 0:11:15.720 Giants are four and one. They went four in thirteen 0:11:15.880 --> 0:11:18.640 last seas and in London they came from two touchdowns 0:11:18.640 --> 0:11:21.360 down against the package six twenty three to go, game 0:11:21.440 --> 0:11:24.640 tied at twenty first and Gold Giants at the two 0:11:25.040 --> 0:11:30.120 wildcat formation with Parkley and right Well. This time Jones 0:11:30.200 --> 0:11:32.600 lined up loud take one, takes the stops take one. 0:11:32.600 --> 0:11:35.760 Thousan outside quartly said for the touchdown, how the Giants 0:11:35.760 --> 0:11:38.080 have the league with six to go w f and 0:11:38.080 --> 0:11:39.959 Giants then stopped Green Bay in a late drive and 0:11:40.000 --> 0:11:44.400 won twenty seven. John stashillar Bloomberg Sports Movement, Kicky John 0:11:44.440 --> 0:11:48.319 SMP futures down down seven points down futures down thirty two. 0:11:48.720 --> 0:11:52.280 NASTAC futures are lower by forty points up. Next, the 0:11:52.360 --> 0:11:55.600 latest from Ukraine after a barrage of missile strikes on 0:11:55.679 --> 0:11:58.680 key cities. We get the very latest with Bloomberg's executive 0:11:58.800 --> 0:12:02.000 editor for International Government meant Rosalind Matheson. You're listening to 0:12:02.080 --> 0:12:09.360 Bloomberg Daybreak, Bloomberg eleven three oh Whether these clouds will 0:12:09.360 --> 0:12:11.839 be followed by sunshine this afternoon up for sixties for 0:12:11.960 --> 0:12:15.400 highs will be Sunday tomorrow near seventy degrees and partial 0:12:15.440 --> 0:12:18.520 sunshine high near seventy for Wednesday. Right now fifty two 0:12:18.600 --> 0:12:24.880 in Central Park markets, headlines and breaking news twenty four 0:12:24.880 --> 0:12:27.920 hours a day at Bloomberg dot Com, the Bloomberg Business 0:12:27.960 --> 0:12:31.640 Out and at Bloomberg Victap this is a Bloomberg Business 0:12:31.720 --> 0:12:40.800 lash and I'm Karen. Moscow and European stocks are lower 0:12:40.840 --> 0:12:43.400 for a fourth strade day. US dot Index Future is 0:12:43.480 --> 0:12:47.720 also declining as concerns amount that central bank policy tightening 0:12:47.800 --> 0:12:49.840 was said to take a heavy toll on the global 0:12:49.880 --> 0:12:52.720 economy and company earnings. We check the markets every fifteen 0:12:52.720 --> 0:12:55.760 minutes throughout the trading day on Bloomberg. Right now, SMP 0:12:55.960 --> 0:12:58.559 futures are down nine points down, futures down forty one, 0:12:58.640 --> 0:13:02.200 nasday futures down forty three, and the docks in Germany 0:13:02.320 --> 0:13:05.680 is moving higher. It's up about half percent. There's no 0:13:05.760 --> 0:13:08.440 trading on the treasury markets today in the US. That 0:13:08.559 --> 0:13:11.680 is due to the Columbus Day and Indigenous People's Day holidays. 0:13:12.120 --> 0:13:14.520 Nimex screwed oil is down six tents of a percent 0:13:14.600 --> 0:13:17.280 on fifty three cents and ninety two dollars eleven cents 0:13:17.280 --> 0:13:19.760 of barrel. Comex gold down one point four percent on 0:13:19.880 --> 0:13:23.880 twenty three dollars, forty cents and s nine announced euro 0:13:24.040 --> 0:13:26.480 point nine seven oh three against the dollar, British pound 0:13:26.559 --> 0:13:29.400 one point one zero seven zero and again one forty 0:13:29.440 --> 0:13:32.360 five point four five. Look at it bitcoin, it's down 0:13:32.440 --> 0:13:35.520 eight tens of percent in nineteen thousand and three hundred dollars. 0:13:35.720 --> 0:13:38.480 That's a Bloomberg business flash. Now here's Michael Barr with 0:13:38.520 --> 0:13:41.440 more on what's going on around the world. Michael Karen, 0:13:41.480 --> 0:13:44.320 thank you very much. Several explosions were heard in Ukraine's 0:13:44.360 --> 0:13:47.719 capital city, Keyev today. It comes as Russian leader of 0:13:47.760 --> 0:13:50.439 Vladimir Putin will meet with its top security officials in 0:13:50.520 --> 0:13:55.600 Moscow following the bombing of Europe's longest bridge linking annexed 0:13:55.679 --> 0:13:59.880 Crimea to the Russian mainland. The Nobel Prize in econ 0:14:00.000 --> 0:14:03.600 Comics Sciences was jointly awarded to former FED chair member 0:14:03.679 --> 0:14:07.000 Nack Douglas Diamond and Philip di Big for research on 0:14:07.120 --> 0:14:11.760 banks and financial crisis. In baseball, the season is over 0:14:12.000 --> 0:14:15.320 four the Mets. They lost to the Padres six zip 0:14:15.440 --> 0:14:18.679 in the deciding Game three of their NL wild Card series. 0:14:19.120 --> 0:14:21.800 In football, the Giants lost in London, the Jets one, 0:14:21.880 --> 0:14:24.200 along with the Patriots, Ravens and forty nine years the 0:14:24.240 --> 0:14:28.640 Commanders lost. I am so sorry the Giants one in London. 0:14:28.680 --> 0:14:31.520 I am my apologies. On that Global News twenty four 0:14:31.560 --> 0:14:34.760 hours a day on air and on Bloomberg quittake power 0:14:34.800 --> 0:14:37.560 by more than twenty seven hundred journalists analysts in more 0:14:37.560 --> 0:14:39.680 than a d twenty countries. On Michael Barr and this 0:14:40.360 --> 0:14:43.160 is Bloomberg, Nathan blamed the time change. Thank you, Michael, 0:14:43.520 --> 0:14:46.000 six nineteen on Wall Street Life from the Bloomberg Interactive 0:14:46.000 --> 0:14:48.280 Broker Studios. This is Bloomberg day Break. We want to 0:14:48.280 --> 0:14:50.720 get you the latest now on the war in Ukraine, 0:14:50.720 --> 0:14:53.080 where Russia has hit key of and other major cities 0:14:53.080 --> 0:14:56.240 with what may be the most intense missile barrage since 0:14:56.280 --> 0:14:59.600 the invasion began in February, coming a day after Vladimir 0:14:59.680 --> 0:15:02.400 Putin in Ukraine for an attack on a landmark bridge 0:15:02.400 --> 0:15:05.920 to Crimea. Joining US now is Rosalind Mathison, Bloomberg News 0:15:06.000 --> 0:15:09.960 executive editor for International Government Rise. It feels like this 0:15:10.120 --> 0:15:13.840 attack on the Crimean bridge is serving as something of 0:15:13.880 --> 0:15:17.400 a pivot point in this war. What is the latest? 0:15:18.160 --> 0:15:20.080 We have a lot of developments coming in just the 0:15:20.120 --> 0:15:23.920 last few minutes. Well, certainly we can see the pattern 0:15:23.960 --> 0:15:26.920 of escalation coming here from the Russian president and that's 0:15:26.960 --> 0:15:29.760 because his forces have been on the back foot on 0:15:29.840 --> 0:15:32.120 the ground in Ukraine for some months now. We've sent 0:15:32.200 --> 0:15:35.720 a successful counter offensive by Ukraine in the east and 0:15:35.800 --> 0:15:39.040 some advancements made in the south, and that's really bogged 0:15:39.120 --> 0:15:43.480 his war down. He's announced a partial mobilization, he's announced 0:15:43.480 --> 0:15:47.560 the annexation of areas of Ukraine that are occupied by Russia, 0:15:47.600 --> 0:15:50.160 but he's still struggling for traction. And now, really this 0:15:50.400 --> 0:15:53.640 prestige blow with this big fire ball that hit this 0:15:53.920 --> 0:15:58.200 bridge that links Crimea to the Russian mainland on the weekend. 0:15:58.240 --> 0:16:01.600 And that's a that's a bridge that really himself endorsed. 0:16:01.680 --> 0:16:04.720 He opened it by driving a truck over it after 0:16:05.360 --> 0:16:09.200 it was built, and it's an essential logistical link between 0:16:09.320 --> 0:16:12.040 Crimea and Russia, and certainly for the war and the 0:16:12.080 --> 0:16:14.760 fact that it was that it was hit Ukraine is 0:16:14.800 --> 0:16:18.160 of course has not claimed responsibility is a big setback. 0:16:18.240 --> 0:16:22.000 So we're seeing retaliation essentially today with a blizzard of 0:16:22.040 --> 0:16:27.360 missile strikes on Ukrainian cities, seventy five missiles in total, 0:16:27.400 --> 0:16:30.600 although half of those were intercepted and shot down, and 0:16:30.600 --> 0:16:33.920 again the idea that he's hitting cities, he's hitting infrastructure, 0:16:34.560 --> 0:16:37.680 these are not necessarily military targets, but trying to send 0:16:37.680 --> 0:16:39.960 a message to Ukraine that he's going to continue no 0:16:39.960 --> 0:16:43.840 matter what. And of seeing some headlines just cross a 0:16:43.920 --> 0:16:48.320 reaction from the European Union that the Russia apparently targeting 0:16:48.320 --> 0:16:51.720 civilians once again amounts to a war crime, ramping up 0:16:52.120 --> 0:16:56.280 those harsh forms of rhetoric. What further response could we 0:16:56.440 --> 0:17:01.200 see from NATO and particularly the US, now that we're 0:17:01.200 --> 0:17:05.720 seeing this intense barrage coming from Russia, will certainly we're 0:17:05.720 --> 0:17:09.399 expecting the grip of Seven leaders to speak today by phone, 0:17:09.680 --> 0:17:12.840 that's in a couple of hours, and they will also 0:17:12.920 --> 0:17:17.119 speak with the Ukrainian President, vladimirslin Ski as part of 0:17:17.160 --> 0:17:20.360 that UH and you're going to see probably expressions obviously 0:17:20.359 --> 0:17:24.080 of condemnation for the attacks that have happened today, a 0:17:24.160 --> 0:17:28.679 promise again to stand united behind Ukraine UH and promises 0:17:28.720 --> 0:17:31.800 to continue to send them weapons. The question is that 0:17:31.920 --> 0:17:36.000 will NATO allies released and Ukraine the weapons that it's 0:17:36.040 --> 0:17:39.159 been calling for. It's saying that it needs fighter jets, 0:17:39.200 --> 0:17:42.760 it needs a Western made tanks, it needs much more 0:17:42.760 --> 0:17:46.600 advanced equipment that it's getting, and you've seen NATO countries 0:17:46.640 --> 0:17:50.200 being quite cautious about doing that and so far resisting 0:17:50.560 --> 0:17:53.600 those calls. So it's really whether at this point make 0:17:53.680 --> 0:17:56.240 NATO makes a decision to sort of send different kinds 0:17:56.240 --> 0:17:59.960 of weapons into Ukraine. They're really kind of sanctioned rush 0:18:00.000 --> 0:18:01.920 here as much as they can. There's not much less 0:18:02.400 --> 0:18:05.719 else to do there. Um, So really expressions of unity 0:18:05.840 --> 0:18:08.320 probably in the desire to keep supporting Kiev as much 0:18:08.359 --> 0:18:11.000 as they can, and in those comments that the President 0:18:11.040 --> 0:18:13.159 made that got so much attention about the threat of 0:18:13.200 --> 0:18:17.440 nuclear armageddon from Russia. He also said that the US 0:18:17.560 --> 0:18:20.719 is trying to find an r ramp for a president Putin. 0:18:20.800 --> 0:18:23.280 Given the developments we've seen just over the weekend and 0:18:23.320 --> 0:18:26.280 into this morning, what's the potential our ramp look like? 0:18:26.320 --> 0:18:28.840 We've got about a minute left here, Rose, Well, that 0:18:29.000 --> 0:18:30.960 is the question, how do you come back from this? 0:18:31.520 --> 0:18:33.960 At this point? The question is does the Russian president 0:18:34.040 --> 0:18:37.720 risk his own hold on parent his prestige at home. 0:18:38.400 --> 0:18:40.760 He's backed himself into a corner with this war and 0:18:40.800 --> 0:18:43.160 it's very hard to get out of it. He doesn't 0:18:43.160 --> 0:18:46.480 really have the ability to hold onto territory. So what 0:18:46.640 --> 0:18:49.600 doesn't of ramp look for because Ukraine won't see territory 0:18:49.640 --> 0:18:53.359 in order to negotiate a solution to this? Does this 0:18:53.480 --> 0:18:57.120 war just simply go into a semi frozen conflict through 0:18:57.119 --> 0:19:00.840 the winter. Is each military tries to regroup, but right 0:19:00.880 --> 0:19:03.560 now that there's very little that anyone can say really, 0:19:03.560 --> 0:19:05.920 which is the white to navigate lat him a Puttin 0:19:06.040 --> 0:19:07.560 out of this in a way that he can claim 0:19:07.640 --> 0:19:10.680 that he got something. Thanks as always for your insights. 0:19:10.760 --> 0:19:13.320 Ro's great having you on with us this morning. Rosalind Mathison, 0:19:13.359 --> 0:19:17.040 our executive editor for International Government for Bloomberg News as 0:19:17.040 --> 0:19:20.479 we continue to follow developments following this barrage of missile 0:19:20.480 --> 0:19:23.520 attacks on key of and other cities in Ukraine from 0:19:23.600 --> 0:19:28.400 Russia following the explosion on that bridge over Crimea, will 0:19:28.440 --> 0:19:32.200 continue monitoring developments, particularly with those G seven talks set 0:19:32.240 --> 0:19:34.680 to get underway in just a couple of hours. Looking 0:19:34.720 --> 0:19:37.560 ahead to the market open this morning, futures are moving lower. 0:19:37.600 --> 0:19:40.000 We've got SMP futures down by nine points right now, 0:19:40.280 --> 0:19:43.239 DAL futures are down forty seven points. NASTACK futures are 0:19:43.240 --> 0:19:46.280 lower by forty two points. No trading in the treasury 0:19:46.320 --> 0:19:49.600 market for a federal holiday. Nimex screwed down a half 0:19:49.640 --> 0:19:53.000 percent right now at nineteen of barrel, the Euro at 0:19:53.080 --> 0:19:57.320 point nine seven zero three against the dollar. Bitcoin lower 0:19:57.359 --> 0:20:00.000 on the session at about nineteen thousand, three hundred dollars. 0:20:01.040 --> 0:20:08.440 You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather 0:20:08.520 --> 0:20:11.200 morning cloudy needs to be followed by afternoon sunshine and 0:20:11.280 --> 0:20:14.960 hides in the upper sixties today, sunshine and near seventy tomorrow. 0:20:15.040 --> 0:20:17.600 Partly sunny Wednesday with the high in near seventy Right now, 0:20:17.640 --> 0:20:24.960 cloudy fifty three degrees. Broadcasting live from the Bloomberg Interacted 0:20:25.040 --> 0:20:28.880 Broker Studio in New York, Bloomberg E Living Freed to Washington, 0:20:28.960 --> 0:20:32.840 d C, Bloomberg one to Boston, Bloomberg What Old six, 0:20:32.880 --> 0:20:36.120 one to San Francisco, Bloomberg non sixty to the country, 0:20:36.200 --> 0:20:38.800 Sirius XM to the one nine T and around the 0:20:38.840 --> 0:20:42.880 globe the Bloomberg Business and Bloomberg Radio dot com. This 0:20:43.240 --> 0:20:52.040 is Bloomberg Daybreak six thirty on Wall Street. Good morning. 0:20:52.040 --> 0:20:55.000 I'm Nathan Hagar and I'm Karen Moscow, and we're just 0:20:55.080 --> 0:20:57.359 about three hours away from the open of US trading. 0:20:57.440 --> 0:20:58.960 Time to the five things that you need to know 0:20:59.119 --> 0:21:02.359 to start your Dave alto you buy. Interactive Brokers I 0:21:02.520 --> 0:21:04.840 v k R. Event Trader offers a new way to 0:21:04.880 --> 0:21:07.800 trade futures. Use event contracts to trade your opinion on 0:21:07.920 --> 0:21:11.240 yes or no questions and key CME futures markets. Learn 0:21:11.320 --> 0:21:15.240 more at event trader dot Interactive Brokers dot com. Up First, 0:21:15.359 --> 0:21:18.879 former FED chairman Ben Burnanke, along with Douglas Diamond and 0:21:18.880 --> 0:21:22.480 Philip div Vig have been awarded the two Nobel Prize 0:21:22.480 --> 0:21:26.200 and Economic Sciences for research on banks and financial crisis. 0:21:26.480 --> 0:21:29.200 The three will share that nine hundred thousand dollar Award. 0:21:29.400 --> 0:21:32.160 Turning to the markets, Karen, futures are lower, but they're 0:21:32.200 --> 0:21:34.360 off their worst levels of the morning. Stocks are coming 0:21:34.359 --> 0:21:37.760 off three straight days of losses. Brian Jacobson, senior investment 0:21:37.840 --> 0:21:40.840 strategist at all Spring Global Investments, says investors are betting 0:21:40.840 --> 0:21:44.400 the Federal Reserve continues. It's aggressive hiking trail. I think 0:21:44.400 --> 0:21:47.040 the Fed pivot that's not going to happen until they 0:21:47.040 --> 0:21:49.119 take the blinders off right, and I don't think that 0:21:49.160 --> 0:21:53.040 they really want to even contemplate changing their tune until 0:21:53.080 --> 0:21:54.639 they get the four and a half percent with the 0:21:54.640 --> 0:21:58.080 FED funds rates. All Spring Global Investments Brian Jacobson says, 0:21:58.160 --> 0:22:00.440 if there is a broad economic recession, and it would 0:22:00.440 --> 0:22:04.440 likely come in three well US Alian's chief economic advisor 0:22:04.520 --> 0:22:08.440 and Bloomberg opinion contributor, Mohammed Allarian, is that going those 0:22:08.480 --> 0:22:11.439