Speaker 1: Markets, headlines and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com, The Bloomberg Business at and at
Speaker 1: Bloomberg Quicktape. This is a Bloomberg Business Flash. Nathan Hagar
Speaker 1: was kind of cautious in markets this morning after recent
Speaker 1: sharp games. Stocks are holding steadies. Traders await the monthly
Speaker 1: US jobs report. We check the markets every fifteen minutes
Speaker 1: during the trading day. On Bloomberg SMP futures are down
Speaker 1: one point right now down futures down twenty four, Nasdaq
Speaker 1: futures down ten points, little changed all around ten. Your
Speaker 1: treasury is down to thirty seconds. The old three point
Speaker 1: five one percent yield on the two year four point
Speaker 1: one eight percent. Nim X screwed is little changed as well,
Speaker 1: up six cents eighty one dollars twenty eight cents for
Speaker 1: a barrel of West Texas Intermediate comex s Gold is
Speaker 1: little changed. Down to dollar ten eighteen fourteen ten announced
Speaker 1: the euro one point zero five to two against the dollar.
Speaker 1: The yen is at one thirty four point one one.
Speaker 1: Bitcoin is up two tenths per cent, so little change
Speaker 1: there as well. Just shive seventeen thousand. That's a Bloomberg
Speaker 1: Business Flash. Now here's Michael Barr with more on what's
Speaker 1: going on around the world. Un Nathan, thank you very much.
Speaker 1: It is a victory for the Justice Department's criminal investigation
Speaker 1: into Donald Trump's handling at White House documents. The Federal
Speaker 1: appeal scored rule the judge was wrong by appointing a
Speaker 1: special master to review material sees from the former president's
Speaker 1: Mowerla Go Home. Congress has avoided what President Biden says
Speaker 1: could have been a Christmas catastrophe. The sent had voted
Speaker 1: to pass a bill to avert a looming rail strike NFL.
Speaker 1: The Bills beat the Patriot NHL. Both the Devils and
Speaker 1: Capitals lost in no t at the World Cup. Four
Speaker 1: games today, including Cameroon against Brazil. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than twenty seven under journalist and analysts and
Speaker 1: more than a hundred twenty countries. I'm Michael Barr. This
Speaker 1: is Bloomberg aaming all right, Thank you, Michael. We are
Speaker 1: waiting for the jobs numbers this morning. Experts are watching
Speaker 1: for the trend of slower hiring to continue. And we're
Speaker 1: joined live now by Wells Fargo senior economist Sarah House
Speaker 1: to give us a free view of jobs. Stay Sarah,
Speaker 1: good morning, Thanks for taking the time with us. What
Speaker 1: are you watching for today? So obviously that headline will
Speaker 1: be a big focal point just given that overall trend
Speaker 1: pace of hiring, So we're looking for a game just
Speaker 1: a little bit below consensus of around a hundred ninety thousand,
Speaker 1: So that would be certainly a step down from what
Speaker 1: we saw in October as well as just the average
Speaker 1: this year. But I think another big local point will
Speaker 1: be what's happening on wages, given that inflation is the
Speaker 1: utmost priority and they are worried about the inflationary pressures
Speaker 1: coming from the labor market, how much of a slowdown
Speaker 1: and hiring is the FED also looking for what's it
Speaker 1: going to take for a pivot. So I think we're
Speaker 1: already set for the FED to slow the pace of tightening.
Speaker 1: But I think in terms of potentially stopping rate hikes
Speaker 1: and you know, eventually reversing, I think we're still a
Speaker 1: long way off from from that. So I think if
Speaker 1: you get a sub two number, you know, but not
Speaker 1: you know, still still within the hundreds. I think they
Speaker 1: would be perfectly content with that, so suggesting that you
Speaker 1: are seeing some some moderation, but the labor market isn't
Speaker 1: isn't falling apart, and you mentioned way, does what are
Speaker 1: you watching for their specifically and how crucial is that
Speaker 1: data before the Fed's next meeting. Right, So we're looking
Speaker 1: for a zero point three percent monthly increase, which would
Speaker 1: be somewhat slower from what we're seeing earlier in the year,
Speaker 1: but that's still four percent annualized rate over the past
Speaker 1: three months, So still too hot, I think as far
Speaker 1: as the Fed's concerned when they're thinking about it against
Speaker 1: a two percent inflation target and even making some pretty
Speaker 1: reasonable assumptions about productivity growth. So I think there's still
Speaker 1: some some work to be done, but it would certainly
Speaker 1: be an encouraging sign that we are starting to see
Speaker 1: some of those inflationary pressures begin to slow, and I
Speaker 1: think keep the Fed on track to moderate that pace
Speaker 1: of tightening at a coming meetings. Now, when it comes
Speaker 1: to the labor market, if we drilled down just a
Speaker 1: little bit, we've seen a wave of layoffs, especially in
Speaker 1: the tech sector. Does that signal anything for you? Is
Speaker 1: that concerning at all? Well? I think it does signal
Speaker 1: that the broader environment is getting tougher for for businesses,
Speaker 1: so as we are starting to see demand slow, as
Speaker 1: we're seeing consumer preferences shifts, as financing costs are are
Speaker 1: getting higher, and so I think it is a bit
Speaker 1: of a bell weather. So maybe not completely indicative of
Speaker 1: the broader jobs market when you still have, for example,
Speaker 1: a lot of small businesses saying that they are having
Speaker 1: trouble to find filling positions right now. But I think
Speaker 1: it does suggest that we are in for for tougher chime.
Speaker 1: So I think some of the way off and NOWNCNQ
Speaker 1: seen recently might be a little bit too early to
Speaker 1: show up in in today's data, but I think they
Speaker 1: do point to the fact that we'll see job growth
Speaker 1: continue to slow on Trent, despite you know, potential surprises
Speaker 1: that we see, perhaps in twoday's report in the headline number.
Speaker 1: You know, sometimes the data can be a little bit
Speaker 1: skewed because of the holiday season, and we're right there
Speaker 1: in the middle of it. How has the holiday season
Speaker 1: impacted the data? Well, I think that could be a
Speaker 1: headwind for today's data, and the fact that retailers have
Speaker 1: announced that they're not looking to hire quite so many
Speaker 1: workers as as last year. And if you think about
Speaker 1: the holiday related industries and not just retail, but also
Speaker 1: transportation and warehousing, so those industries are seeing, I think,
Speaker 1: particular cyclical headwinds, and so I think the fact that
Speaker 1: the seasonal factors are are looking for a nice uptick
Speaker 1: there might be a little bit disappointed. And so I
Speaker 1: think that's also contributing to the notable mo oration and
Speaker 1: job growth that we're expecting today versus what we've seen
Speaker 1: over the past few months. We have about thirty seconds here, Sarah,
Speaker 1: but I want to ask what you are going to
Speaker 1: be watching for incoming weeks. What's got your attention? So
Speaker 1: I think it's it's still very much focused around inflation
Speaker 1: the labor market to the extent that it's it's impacting inflation.
Speaker 1: I think we are seeing signs that the trend is
Speaker 1: moderating for price growth on on net, but I think, um,
Speaker 1: there's there's still a lot of of data that actually
Speaker 1: needs to confirm that to keep the FED on this
Speaker 1: on this path of moderating the pace of rehis all right,
Speaker 1: Sarah House, thank you so much. Sarah House, a senior
Speaker 1: economist with Wells Fargo and Will Blake break down those
Speaker 1: numbers with US Labor Secretary Marty Walsh. That's coming up
Speaker 1: at this morning at Wall Street Time on Bloomberg Radio
Speaker 1: and Television. Nathan, They're going to be a very interesting conversation.
Speaker 1: Thank you, Amy. It's five fifty three on Wall Street Time.
Speaker 1: Now for our Bloomberg Law Report, Let's get to the
Speaker 1: legal stories were watching this morning. Here's Bloomberg's Steff Bellinger.
Speaker 1: Nike filed trademark suits against two companies in New York
Speaker 1: federal court. The defendants are accused of selling knockoffs of
Speaker 1: Nike's Air Jordan and dunk sneakers. Treasury Watchdog found there
Speaker 1: was no misconduct in connection with i R S audits
Speaker 1: of two former FBI officials, and the XFL has hired
Speaker 1: veterans Warts lawyer Wendy Bass as its chief business and
Speaker 1: legal officer. The XFL was making a third attempt at
Speaker 1: establishing a non NFL football league. Bloomberg Law everything you need,
Speaker 1: all on one legal research platform, including guidance analysis and
Speaker 1: Bloomberg Market Intelligence. Find out more at Bloomberg Law dot com. Now,
Speaker 1: another legal story we're watching for the first time in
Speaker 1: almost thirty years, the Justice Department has convinced a jury
Speaker 1: to convict American citizens of seditious conspiracy against the United States.
Speaker 1: Two members of the far right group the Oath Keepers,
Speaker 1: are found guilty of conspiring to oppose by force the
Speaker 1: peaceful transfer of presidential power on January six of last year.
Speaker 1: So I those verdicts being for future cases and on
Speaker 1: the investigation into the Capital riots for more Bloomberg June
Speaker 1: Grosso spoke with former federal prosecutor Jimmy Garoli, a professor
Speaker 1: at Notre Dame Law School. Jimmy, what's the impact of
Speaker 1: this verdict? I think it's important on a couple of levels. First,
Speaker 1: I think it's a very powerful rebuttal to the narrative
Speaker 1: that the January six rioters were so called patriots. What
Speaker 1: this verdict proves is in instead of patriots, many of
Speaker 1: these individuals, certainly these five individuals that were convicted, are criminals.
Speaker 1: And these individuals have been convicted of some of the
Speaker 1: most serious crimes against the government, including to of them
Speaker 1: convicted of seditious conspiracy, which is second only in terms
Speaker 1: of its severity and importance, second only to treason. And
Speaker 1: I think the other important takeaway is whether or not
Speaker 1: the convictions are going to motivate any of the five
Speaker 1: defendants to cooperate with the government. So all five defendants
Speaker 1: were convicted of obstructing an official proceeding. That's a very
Speaker 1: serious offense that carries a penalty of up to twenty
Speaker 1: years in prison. So these individuals have a real incentive
Speaker 1: to try to reduce their criminal liability and term of
Speaker 1: imprisonment by cooperating with the government. So we'll have to
Speaker 1: wait and see what happens there, and then lastly, whether
Speaker 1: or not these verdicts are going to encourage others to
Speaker 1: cooperate with the government. So there are several individuals that
Speaker 1: have trials that are pending and again involving very serious
Speaker 1: felony charges, and it will be interesting to see whether
Speaker 1: they're motivated to cooperate with the government as well. The
Speaker 1: verdicts were in a slam dunk for the prosecution how
Speaker 1: much of a conspiracy with only two people convicted of
Speaker 1: seditious conspiracy, So more people were acquitted than convicted of it. Yeah,
Speaker 1: that's true. There are ten counts that the jury considered,
Speaker 1: and the method to take away the fact that that
Speaker 1: some were acquitted some were convicted. What does suggest to
Speaker 1: me is that it was a jury that really took
Speaker 1: its responsibilities seriously with respect to each count and the
Speaker 1: evidence as it retained to each individual. So they really
Speaker 1: called through the evidence and applied the evidence defended by defendant,
Speaker 1: and in some cases they just found that there was
Speaker 1: not sufficient evidence beyond a recent doubt of an agreement,
Speaker 1: which is the central, you know, key element to establish conspiracy,
Speaker 1: including seditious conspiracy, and we saw that not only with
Speaker 1: the seditious conspiracy count, but also the conspiracy to obstruction
Speaker 1: official proceedings. To the defendants were convicted of that conspiracy
Speaker 1: and then three were not. But then at the same
Speaker 1: time and you look at the obstruction of official proceeding,
Speaker 1: you know, all five defendants were convicted of that count.
Speaker 1: And so again I think it suggests that jury really
Speaker 1: very meticulously, you know, examine the evidence and applied it
Speaker 1: to each dependent. That's Jimmy Garouli, a professor at Notre
Speaker 1: Dame Law School, speaking with Bloomberg's June Grosso. You can
Speaker 1: catch more of that interview plus analysis of the latest
Speaker 1: legal news by subscribing to the Bloomberg Law Podcast or
Speaker 1: downloading the show at Bloomberg dot com, Slash podcasts, and
Speaker 1: attorneys can find exceptional legal research and business development tools
Speaker 1: at Bloomberg Law dot com and on the Bloomberg terminal
Speaker 1: at b law Go. Ahead of the November jobs reports,
Speaker 1: futures are in weight and mode. S ANDP futures are
Speaker 1: little changed right now. Down futures are down thirteen points,
Speaker 1: NASCAC futures are down eight Tenure treasuries down to thirty seconds.
Speaker 1: The yield three point five one percent. Bloomberg Daybreak continues.
Speaker 1: This is Bloomberg broadcasting live from the Bloomberg Interactive Broker
Speaker 1: Studio in New York. Bloomberg Eving Freed to Washington, d C.
Speaker 1: Bloomberg to Boston, Bloomberg What A six one to San Francisco,
Speaker 1: Bloomberg nine sixteen to the country, Sirius XM H one
Speaker 1: nineteen and around the globe, the Bloomberg Business apt and
Speaker 1: Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five
Speaker 1: thirty on Wall Street. Good Friday morning. I'm Amy Morris,
Speaker 1: I'm Nathan Hager. We're about four hours away from the
Speaker 1: open of US trading. Let's get you up to date
Speaker 1: on the news. You need to know at this Our
Speaker 1: futures are kind of holding steady this morning ahead of
Speaker 1: the monthly jobs report. So far SMP future as they're
Speaker 1: holding onto November's gains. Morgan Stanley chief US equity strategist
Speaker 1: Mike Wilson thinks December could see gains as well. For
Speaker 1: a trade, okay, we think it's NASAC or long Derratian
Speaker 1: stocks will will like that move in race lower. I
Speaker 1: think for the investment community and for asset owners, it's
Speaker 1: basically bonds. Morgan Stanley's Mike Wilson says this bear market
Speaker 1: rally could be sustained over the next month. To the
Speaker 1: banking sector now where credits we is in focus. Chairman
Speaker 1: Actual Lehman spoke exclusively with Bloomberg News this morning, saying
Speaker 1: the bank has mostly stemmed the huge outflow of clients assets.
Speaker 1: When I speak to clients, I know there will be
Speaker 1: in flos. We already see it partially happening, So we
Speaker 1: have plans to continue to reach out to two clients.
Speaker 1: It might take a little bit of time, but it will.
Speaker 1: You know, it will come back. Chairs of gret Suite
Speaker 1: appeared to be getting a boost from our interview with chairman,
Speaker 1: Actual Leman, They're higher by six point three percent in Zurich.
Speaker 1: Turning into Twitter, now, Amy the artists formerly known as
Speaker 1: Kanye West is in trouble again or another offensive post
Speaker 1: on the platform. Bloomberg Steve Rappaport joins us Live with that, Steve,
Speaker 1: Good morning, Nathan and Amy. Kanye West appears to be
Speaker 1: the litmus test for Elon Musk's lacks approach to moderating content.
Speaker 1: The rapper earned himself a Twitter time out for posting
Speaker 1: a Jewish star of David combined with a swastika Musk
Speaker 1: saying Yea's account broke the platform's policy against inciting violence.
Speaker 1: Earlier in the day, you told conspiracy theorist Alex Jones
Speaker 1: that he loves Jews but also loves Nazis. He also
Speaker 1: praised Adolf Hitler as an innovator. Live in New York,
Speaker 1: I'm Steve Rappaport, Bloomberg Daybreak, All right, thank you, Steve.
Speaker 1: To politics Now. Former President Donald Trump has lost another
Speaker 1: legal battle. Bloomberg contributor Jeanie she and Zo says a
Speaker 1: court ruling ended the special master review of documents seized
Speaker 1: from his Moral Lago estate. This is a big win
Speaker 1: for the d o J. It really puts their case
Speaker 1: and their ability to investigate and potentially if they want
Speaker 1: to file charges against the former president, they're able to
Speaker 1: do that. They're no longer going to be delayed by
Speaker 1: the Special Master. That it's what they were seeking. Jenny,
Speaker 1: she and Zano made those comments on Bloomberg's sound on,
Speaker 1: which you can catch weekdays at five pm. Wall Street Time.
Speaker 1: Here on Bloomberg Radio. Checking futures now. S and P
Speaker 1: futures down two points, Dell futures down twenty six, Nasdaq
Speaker 1: futures down thirteen. The Nimex crewed now trading to one
Speaker 1: hundreds of a percent lower, that's about two cents trading
Speaker 1: now at eight one dollars at nineteen cents per barrel.
Speaker 1: This is Bloomberg on Wall Street. Let's bring in Michael
Speaker 1: Barr with more on what else is going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Amy. The U. S. Supreme Court kept President Joe
Speaker 1: Biden's student loan relief plan on hold. The High Court
Speaker 1: agree to hear arguments in February that will likely produce
Speaker 1: a definitive ruling by June. The justices declined for now
Speaker 1: to lift federal appeals court decision that is blocking the program.
Speaker 1: Six Republican led states suit accusing the pres an end
Speaker 1: of overstepping his authority. Congress has voted to a vert
Speaker 1: of rail strike that many had predicted would have a
Speaker 1: huge negative impact on the economy. The Senate has passed
Speaker 1: a bill to buying railroads and tens of thousands of
Speaker 1: workers to a propose contract settlement. It had been rejected
Speaker 1: by four of the twelve unions involved. Gregory de Young
Speaker 1: teaches operations management at Southern Illinois University in Carbondale. It
Speaker 1: was approved by most of the unions, even though it
Speaker 1: wasn't actually approved by a majority of the voters within
Speaker 1: the unions, so it's probably a pretty good compromise overall
Speaker 1: operations management experts, Gregory de Young. President Biden is poised
Speaker 1: to sign the bill. New York City's transit chief and
Speaker 1: three other top police officials announced their retirements on Thursday.
Speaker 1: The departures coming that a push announced by Mayor Eric
Speaker 1: Adams this week to involuntarily hospitalized people who are considered
Speaker 1: too mentally ill to take care of themselves. The Biden
Speaker 1: administration's first state dinner was held last night with more
Speaker 1: than three hundred thirty invited guests on hand to honor
Speaker 1: France's first couple as part of his chose to President Biden.
Speaker 1: French President Emmanuel mccron spoke about friendship between the two
Speaker 1: nations that started during the American Revolution, and when Lafayette
Speaker 1: came here indeed to fight. He fought for his principles
Speaker 1: and to have people here living in democracy and freedom.
Speaker 1: And this is the same, the same thing. Today. President
Speaker 1: mccram will head to Louisiana Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than hundred journalists and analysts and more than a
Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg. Amy,
Speaker 1: all right, thank you, Michael. On Wall Street. Time now
Speaker 1: for the sports report, brought to you by Try State. Audie.
Speaker 1: Here's John stash Our. Alright, Amy, the Patriots dominated the
Speaker 1: a f C East for two decades. Now that title
Speaker 1: belongs to Affalo. Bills won in Foxboro to ten. They've
Speaker 1: now beaten the pat six and the last seven meetings,
Speaker 1: the Bills had three long touchdown drives. The Pats offense
Speaker 1: struggled after the first quarter TV SO Buffalo Now night
Speaker 1: in three Miami eight and three. Jets are seven and four,
Speaker 1: getting ready for a visit to Minnesota. New England drops
Speaker 1: to six and six. Pats will own a potential tiebreaker
Speaker 1: with the Jets having beaten them twice in Newark. Devils
Speaker 1: ten seconds from victory, ended up losing to Nashville four
Speaker 1: three and overtime college hoops Seaton Hall blown out by
Speaker 1: Kansas sixty five. The big World Cup winners yesterday Morocco
Speaker 1: and Japan both surprising group winner as Croatia and Spain
Speaker 1: also advanced. Germany, four time World Cup champion and now
Speaker 1: heading home. The US heading to a knockout round game
Speaker 1: tomorrow morning with the Netherlands. US star Christian Polizic hopes
Speaker 1: to play despite the injury suffered while scoring the only
Speaker 1: goal against Irand when the game was over, Holistic was
Speaker 1: in the hospital. I was able to follow it on
Speaker 1: the you know, with me on his phone on and
Speaker 1: it was like the hardest thing, um, you know, I
Speaker 1: think they were they were checking my you know, my
Speaker 1: blood sugar and everything and I was flying through the roof.
Speaker 1: But it wasn't because of anything. It's just me stress
Speaker 1: watching the games. Cleared underdogs tomorrow against the Dutch. Since
Speaker 1: has played teams from Europe nineteen times, has won only once.
Speaker 1: Gay Lord Perry has died at eighty four. Made it
Speaker 1: to the Hall of Famous Fight, admitting he was sometimes
Speaker 1: doctor the baseball. John stash Hower Bloomberg Sports. All right,
Speaker 1: thank you, John, it's five thirty seven on Wall straight time.
Speaker 1: Now for the Tri State Business Report. Here was that
Speaker 1: with that is Bloomberg's Joan Donnager. This won't be a
Speaker 1: happy bonus season at Goldman Sachs. The company's traders are
Speaker 1: on the way to posting their biggest revenue hall in
Speaker 1: more than ten years, but the firm says cost pressures
Speaker 1: are forcing a cut to your end bonuses in the
Speaker 1: firm's Global Markets division, with a bonus pool facing a
Speaker 1: cut that could reach a low double digit percentage that
Speaker 1: contrasts with industry wide projects in the unit's own performance.
Speaker 1: New York State is looking at charging licensed cryptocurrency businesses
Speaker 1: for the cost of regulating them. The Department of Financial
Speaker 1: Services is suggesting the idea. It is standard practice for
Speaker 1: the Department to tax regulated non crypto financial organizations for
Speaker 1: those costs, and after twenty six years, the Ripley's Believe
Speaker 1: It or Not Museum in Atlantic City will close at
Speaker 1: the end of the year. It's last day, December thirty one.
Speaker 1: The museum's manager says it's local franchise e has reached
Speaker 1: the end of its agreement with Ripley, so the space
Speaker 1: will be reimagined. That's the Bloomberg Tri State Business Report.
Speaker 1: I'm Joan Donneager. All right, thank you, Joan. It's five
Speaker 1: thirty eight on Wall Street. Bloomberg Radio is on the
Speaker 1: air from San Francisco to New York, London to Hong Kong.
Speaker 1: Let's check in with our global news team for some
Speaker 1: of the top stories heard on our three hundred affiliate
Speaker 1: radio stations around the world. I'm Steve Podisc on wfl A,
Speaker 1: Tampa Bay. We're talking about tamp ranking as one of
Speaker 1: the best college cities in the nation. I'm Debs Peligrini
Speaker 1: and for KTR at Houston. I'm reporting on McDonald's small
Speaker 1: format restaurant in Texas. I'm Genus Servetti in for Double
Speaker 1: U BBM in Chicago. I'm reporting that Illinois is supercharging
Speaker 1: its lineup of tax incentives for electric vehicle makers. I'm
Speaker 1: Jeff Bellinger and on w l W in Cincinnati. I'm
Speaker 1: reporting the CEO of Kroger says food inflation has started
Speaker 1: to ease, those supermarket shoppers will have to wait a
Speaker 1: while for significant price declines. I'm Joan Donnager telling w
Speaker 1: w J listeners in Detroit the CEO of General Motors
Speaker 1: banks efforts to unionize the battery flat in Lordstown, Ohio.
Speaker 1: Those are some of the stories our d Bloomberg journalists
Speaker 1: and analysts are working on this morning around the world.
Speaker 1: It's five thirty nine on Wall Street. The following is
Speaker 1: an editorial from Bloomberg Opinion. This editorial was written by
Speaker 1: the Bloomberg Editorial Board. Since the start of the pandemic,
Speaker 1: Congress has provided public school districts with one billion dollars
Speaker 1: in aid, yet far too many are in danger of
Speaker 1: squandering it. A recent McKinsey report found that districts have
Speaker 1: yet to spend or even budget one third of the
Speaker 1: funds they've received. At this rate, schools could wind up
Speaker 1: with as much as twenty billion dollars unspent by September,
Speaker 1: the deadline for using the funds. School officials need to
Speaker 1: recognize that this may be their only chance to reverse
Speaker 1: the harms of the pandemic. Policymakers also need to get
Speaker 1: serious by ensuring that funds go to classroom instruction and
Speaker 1: requiring that districts publicize their spending plans. The academic damage
Speaker 1: caused by the pandemic is immense. Failing to use all
Speaker 1: available resources to address it would be a tragic mistake.
Speaker 1: This editorial was written by the Bloomberg Editorial Board. For
Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash
Speaker 1: opinion or op i end go on the Bloomberg terminal.
Speaker 1: This has been Bloomberg Opinion. Bloomberg Opinion editorials can be
Speaker 1: heard every weekday at this time, and terminal customers can
Speaker 1: read more at O, P I n GO. Futures are
Speaker 1: lower s and P futures down to point. DAL futures
Speaker 1: down twenty three points, nasdat futures down eight. Much more
Speaker 1: still to come. This is Bloomberg. The Bloomberg Sports Report
Speaker 1: was brought to you by Audie. Don't let someone else
Speaker 1: drive off in the Audi Model. You've always wanted to
Speaker 1: visit your local Tri state autie dealer to get behind
Speaker 1: the wheel of yours today, or visit Autie Offers dot
Speaker 1: com for more information, markets, headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot com, the Bloomberg
Speaker 1: Business at and at Bloomberg Quick Tape. Chris is a
Speaker 1: Bloomberg Business Flash. I'm Nathan Hagar. Futures are moving sideways
Speaker 1: this morning after recent sharp gains this week traders. Of course,
Speaker 1: we're waiting the monthly US jobs report for clues on
Speaker 1: the federal reserves next policy steps. We check market's every
Speaker 1: fifteen minutes for you during the trading day. On Bloomberg
Speaker 1: SMP futures are up at one point right now. Down
Speaker 1: futures are down four points. Nastack futures are lower by
Speaker 1: five points. The tenure treasury is down five thirty seconds.
Speaker 1: The yield is three point five two percent. Yield on
Speaker 1: the two year four point two zero percent. Nimex crude
Speaker 1: is little changed, up four cents at eighty one dollar.
Speaker 1: Twenty four cents of errol comes Gold is little changed,
Speaker 1: down a dollar. Twenty eighteen fourteen even announced. The euro
Speaker 1: one point zero five two zero against the dollar, British
Speaker 1: pound one point two two six one. The yen is
Speaker 1: at one thirty four point one nine. The November payrolls
Speaker 1: report is due out at eight thirty at Wall Street time.
Speaker 1: We'll have full coverage for you throughout the day here
Speaker 1: on the Bloomberg Radio. That's a Bloomberg Business Flash. And
Speaker 1: now here's Michael Bart with more on what's going on
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. A
Speaker 1: federal appeals court dismissed Donald Trump's lawsuit against the Justice
Speaker 1: Department over documents sees at as Mara Logo Resort in August.
Speaker 1: The panel ruled of Florida judges order of pointing a
Speaker 1: special master to review them cereals was wrong. The Supreme
Speaker 1: Court denied President Biden's request to overturn a lower court's
Speaker 1: ruling blocking his student loan forgiveness program. They did agree
Speaker 1: to take up the legality of the plan. NFL, the
Speaker 1: Bills beat the Patriot NHL, both the Devils and Capitals
Speaker 1: lost in overtime at the World Cup. Four games today,
Speaker 1: including Cameroon against Brazil. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Take, powered by
Speaker 1: more than twenty hundred journalists and analysts in more than
Speaker 1: a hundred twenty countries. I'm Michael Barr and this is Bloomberg.
Speaker 1: Any all right, thank you, Michael. It is five nineteen
Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak. We want to bring you now
Speaker 1: an exclusive interview with Credit Swiss chairman Axel Lehman, who
Speaker 1: sat down this morning with Bloomberg. Lehman says cash outflows
Speaker 1: have stopped, and course shareholders still believe in Credit Sweets.
Speaker 1: He joined Bloomberg's Francie Lukway in London to discuss the
Speaker 1: current state at the Swiss Bank. There's also speculat about
Speaker 1: you selling some of the strategic domestic bank. Again, when
Speaker 1: do we have a full picture, like a definitive picture
Speaker 1: of Credit Suis will be like in ten years. No. Look,
Speaker 1: I think we said on October twenty seventh, we indicated
Speaker 1: three things. Strategically, we are going to radically transform the
Speaker 1: investment banks, so with other words, we are drastically de
Speaker 1: risking the company. Secondly, we go through a cost saving program.
Speaker 1: Certainly we do a capital increase, and we always clearly
Speaker 1: indicated we go back to the core of where we
Speaker 1: come from. It's the Swiss global leading wealth man. Should
Speaker 1: this is the future of the company. Are you having
Speaker 1: to accelerate some of the job cuts and cost cuts? Well,
Speaker 1: we are executing, I think well. We indicated that we
Speaker 1: will reduce headcount by five percent in the fourth quarter.
Speaker 1: I think you will see when we communicate we are
Speaker 1: well underway and we are really doubling down on the execution.
Speaker 1: We try to accelerate. We set for example, two and
Speaker 1: a half billion of cost save. We're definitely exceeding one
Speaker 1: point two billion up to the end of next year.
Speaker 1: So we try to frontload and not to backload the
Speaker 1: the implementation of the Does that mean actually more job cuts?
Speaker 1: And there was a story for example in Bloomberg about
Speaker 1: you know, job losses and ted sales. Look, we clearly
Speaker 1: said we will now we need I have to say
Speaker 1: no cut video set come by seventeen percent, so nine thousand,
Speaker 1: this is definitely the plan. We will achieve this. And
Speaker 1: when we change the plan and need to do more
Speaker 1: and want to do more, we're communicated at the appropriate time.
Speaker 1: And you're frontloading some of the cost cuts also to
Speaker 1: please investors. I don't know how often you're communicating, for example,
Speaker 1: of the Saudi investor no, we are. We try to
Speaker 1: frontload even now in the fourth quarter. That's why you
Speaker 1: know we gave a profit warning for the fourth quarter.
Speaker 1: We're trying to accelerate some of the asset sales non
Speaker 1: core unities. Well, on the way we're working this appoll
Speaker 1: as you know, on the security tized products. Well on
Speaker 1: the way, we are also exiting some of those businesses.
Speaker 1: So this is on execution mode. When do you think
Speaker 1: markets and I guess analysts and everyone will will give
Speaker 1: you a bit of a break. Well, I cannot speak
Speaker 1: to what other people are doing, but rationally, I would
Speaker 1: say you're through the capital increase. You have a really
Speaker 1: very solid capital city banderaship. I would suggest to look
Speaker 1: to other prudential measures like levelage ratio. We will add
Speaker 1: some fifty basis point to our or now it's puff
Speaker 1: six percent. It's probably one of the highest levelage ratios
Speaker 1: that you have in the industry. You look to our LCR.
Speaker 1: Now that is we said hunted forty. We indicated last
Speaker 1: week it was hoovering around count thirty. This week it
Speaker 1: went up to nearly hundred forty. So these are very
Speaker 1: very strong prudential metrics. So that will count the market.
Speaker 1: How difficult is it to retain stuff? It is obviously
Speaker 1: a challenge. Now we have so many people, fifty thousand.
Speaker 1: I think they are very much under pressure, very committed.
Speaker 1: We have still excellent people. And the good thing we
Speaker 1: continue to attract and hire I think, very very strong
Speaker 1: caliber in individuals. But it's something to watch closely clearly.
Speaker 1: So when are you expecting influence to increase? We talked
Speaker 1: a little bit about the outflows and when you're expecting
Speaker 1: them to stop, how do you attract new clients? So
Speaker 1: I said, I already see now, no anecdotally, when I
Speaker 1: speak to clients, I know you know that there will
Speaker 1: be influence. We already see it partially happening. So we
Speaker 1: have plans to continue to reach out to two clients.
Speaker 1: It might take a little bit of time, but it will.
Speaker 1: You know, it will come back and and we'll go
Speaker 1: back to normal. I think we just go now through
Speaker 1: a little bit bach storm during the capital increase. When
Speaker 1: we are done, we are done, and then you know,
Speaker 1: you start to to work step by step, now rush
Speaker 1: step by step, executing a plan, and then we are
Speaker 1: going back on track. I know you have you have
Speaker 1: a lot of big investors, including David Harrow and others.
Speaker 1: What kind of conversations do you have with them specifically, No,
Speaker 1: beyond regular contact system. What I said, of course, you
Speaker 1: know when you're for twenty years and invest in credits
Speaker 1: withes and you see the share prices, these are challenging discussions,
Speaker 1: but you know they see what you do and what
Speaker 1: I really like. They really believe you know, at this
Speaker 1: time it's not just managing something organizing, it's a really
Speaker 1: we put a line into the sand and said, look
Speaker 1: things from a strate teaching culture's perspective will need to change.
Speaker 1: We have taken bold actions and we are going to
Speaker 1: execute and have a new management team. I mean, do
Speaker 1: you look at and you know the parallels between for example,
Speaker 1: Daich Bank or even other banks are frequent. Do you
Speaker 1: look at a bank and say, that is the kind
Speaker 1: of turnaround that I can deliver for Cretic with What
Speaker 1: I take from other banks that have done it successfully
Speaker 1: is they developed the strategy, they stick to it, and
Speaker 1: they were executing quarter over quartered. This is what I
Speaker 1: look for. I think I will try that she always
Speaker 1: situation is unique and behalf the Creticious on how we
Speaker 1: develop that state credit sweet chairman, actuallymon speaking with Bloomberg's
Speaker 1: Franci and Latwa. We'll have more of that interview just ahead.
Speaker 1: This is Bloomberg Bloomberg eleven three oh forecast. Sunny this morning,
Speaker 1: but cloudy this afternoon. We're going up to fifty degrees,
Speaker 1: down to forty tonight and then rain likely tomorrow, going
Speaker 1: up to sixty degrees. Thank you, Nathan. It's five or
Speaker 1: seven on Wall Street. Let's bring in Michael Barr with
Speaker 1: what else is going on in New York and around
Speaker 1: the world. Good morning, Michael, Good morning Amy. The Supreme
Speaker 1: Court says the Biden administration program to cancel student loans
Speaker 1: will remain blocked for now, but the Justices have agreed
Speaker 1: to take up the case in late winter. The Court's
Speaker 1: decision to hear arguments relatively quickly means it is likely
Speaker 1: to determine whether the widespread loan cancelations are legal. Mind
Speaker 1: late June, more than twenty six million people have already
Speaker 1: applied for relief. Democratic Senator Raphael Warnock and Republican challenger
Speaker 1: Herschel Walker are making their final pitch to voters in
Speaker 1: Georgia ahead of Tuesday's runoff election. Walker at his rally
Speaker 1: says he is the leader Georgia needs. You deserve a
Speaker 1: senator who actually lives in Georgia. Meanwhile, Warnock campaigned and Atlanta,
Speaker 1: Georgia have needs you to do it. War Mota and
Speaker 1: the Senator had some high powered campaign to help from
Speaker 1: former President Barack Obama. He's been protecting a woman's right
Speaker 1: to determine her old destiny. Tuesday's election will decide whether
Speaker 1: Democrats increase their seats in the US Senate by one
Speaker 1: to fifty one and on due to Yonkers police officer
Speaker 1: was killed in a traffic accident. It happened yesterday afternoon
Speaker 1: near the Springbrook Parkway overpassed. Police say a BMW driver
Speaker 1: traveling the opposite direction lost control cross stover and slammed
Speaker 1: into the unmarked police vehicle and a bus. New York
Speaker 1: City's transit chief and three other top police officials announced
Speaker 1: their retirements. It creates turnover in the top ranks of
Speaker 1: the department, as Mayor Eric Adams tries to focus the
Speaker 1: department on subway crime and removing people with mental health
Speaker 1: issues from city streets. Among those retiring are Transit head
Speaker 1: Jason Willcox and NYPD Chief of Housing Kathleen O'Reilly. The
Speaker 1: Biden administration's first state dinner was held last night, with
Speaker 1: more than three thirty invited guests on hand. To honor
Speaker 1: France's first couple. President Biden turned to history in his
Speaker 1: toast to French President Emmanuel mccron. France was our first,
Speaker 1: all first country to fly the American flag after our revolution.
Speaker 1: Guests dined on butter, poach, main lobster, and orange chiffon
Speaker 1: cake with roasted pears. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quicktake, powered by more
Speaker 1: than seven hundred turn listed analyst more than twenty countries.
Speaker 1: I'm Michael Barr, and this is Bloomberg Gaming. All right,
Speaker 1: thank you, Michael. It's five on Wall Street. Time down.
Speaker 1: But the sports report brought to you by Try State, Audie.
Speaker 1: Here's John's dash our thanks Amy. Jets fans, perhaps a
Speaker 1: little unsure of who would route for last night. The
Speaker 1: Jets sit behind Buffalo in the a f C East,
Speaker 1: ahead of New England. The Bills won fairly easily in
Speaker 1: four to ten. Josh Allen at two first half touchdown passes.
Speaker 1: Buffalo is now nine and three. One of the losses
Speaker 1: was to the Jets rematch with them week from Sunday
Speaker 1: in Buffalo. Before that game, Jets have what figures to
Speaker 1: be a tough one this Sunday in Minnesota. Vikings or
Speaker 1: nine and two and a big one for the Giants
Speaker 1: home for Washington, who's won six of the last seven.
Speaker 1: Brian Dable, I'm the Commanders. They're challenging on both fronts.
Speaker 1: They don't give up a lot of points. They haven't
Speaker 1: given up a lot of points here in the last
Speaker 1: eight weeks, six and seven. And I think they play
Speaker 1: physical style football. Coach for Verry, got a lot of
Speaker 1: respect for him and how he operates um. They're physical
Speaker 1: on both sides of the ball. Giant Is loss would
Speaker 1: be their third in a row. It would drop them
Speaker 1: to last place in the NFC East. Devil's hosted in Nashville,
Speaker 1: New Jersey. Down to nothing second period, up three two
Speaker 1: of the third, ten seconds from victory, the Predators tied
Speaker 1: the game, National scored early in overtime to win four
Speaker 1: to three, just the Devil's second loss over the last
Speaker 1: five weeks. The Rangers, who won in Ottawa and Wednesday,
Speaker 1: will host the Senators tonight. The Nets are home for
Speaker 1: Toronto College troops. Seaton Hall went out to Kansas to
Speaker 1: face the defending national champs. The Jayhawks blasted the Pirates
Speaker 1: sixty Yukon beat Oklahoma State. The Huskies are nine and
Speaker 1: oh at the World Cup. Christian Polistic says is injured,
Speaker 1: Pelvis feeling better, hopes to play for the US tomorrow
Speaker 1: against the Netherlands. Hall of famer gay Lord Perry has
Speaker 1: died at eighty four picks for twenty two seasons, eight
Speaker 1: different teams. John stash Award Bloomberg Sports say all right,
Speaker 1: thank you, John. Futures are mixed this morning. SMP futures
Speaker 1: two points high, Aer down, Future is mostly unchanged, and
Speaker 1: Nasdaq futures down three points. Ten year Treasury down six
Speaker 1: thirty seconds, the yield at three point five percent, the
Speaker 1: two year yield at four point two percent. NIMEX crude higher.
Speaker 1: That's just a penny going trading now at eighty one
Speaker 1: three cents per barrel. Much more still to come on
Speaker 1: this Friday morning, on Bloomberg day Break. This is Bloomberg.
Speaker 1: The Bloomberg Sports Report was brought to you by Autie.
Speaker 1: Don't let someone else drive off in the outye model.
Speaker 1: You've always wanted. Visit your local try state autie dealer
Speaker 1: to get behind the wheel of yours today, or visit
Speaker 1: outie Offers dot com for more information. Live from the
Speaker 1: Bloomberg Interactive Broker Studios, this is Bloomberg day Break for Friday,
Speaker 1: December two two. Coming up this hour, investors await the
Speaker 1: November jobs report and consider what it means for the fete.
Speaker 1: The chairman of Credit Sweet says the bleeding at the
Speaker 1: Swiss Bank has stopped. Twitter suspends Kanye West once again,
Speaker 1: and the Justice Department gets a win in the Trump
Speaker 1: White House document probe, the shake up of retirements at
Speaker 1: the NYPD plus the Supreme Court rule. Here President Biden
Speaker 1: student loan forgiveness plan but keeps it on hold. I'm
Speaker 1: Michael barn More, I'm John Stashwar and Sports and an
Speaker 1: f C East battle in New England. Buffalo beat the Patriots,
Speaker 1: The Devil's Lost It overtime, Seaton Hall lost at Kansas.
Speaker 1: That's all straded ahead on Bloomberg Daybreak on Bloomberg eleven
Speaker 1: three on New York, Bloomberg on Washington, d C, Bloomberg
Speaker 1: one oh six one Boston, Bloomberg nine sixties and Francisco,
Speaker 1: Sirius x AM one nineteen and around the world on
Speaker 1: Bloomberg Radio dot com and via the Bloomberg Business App.
Speaker 1: Good Friday morning, I'm Amy Morris, I'm Nathan Hacker. Futures
Speaker 1: have kind of hit the pause button this morning. We're
Speaker 1: coming up to five oh one on Wall Street. We
Speaker 1: checked the markets every fifteen minutes during the trading day
Speaker 1: on Bloomberg st and P Future is a little change.
Speaker 1: Own futures down sixteen points, nan Stack futures down eight ten,
Speaker 1: Your treasuries down four thirty seconds, yield three point five
Speaker 1: and the yield on the two year right now four
Speaker 1: point two zero percent. Amy, Nathan, Let's begin with the
Speaker 1: November jobs report. We get the latest figures at eight
Speaker 1: thirty a m. Wall Street time. Traders are looking to
Speaker 1: the data for clues on future interest rate hikes. Jennifer Lee,
Speaker 1: senior economists with BEMO Capital Markets, thinks we'll see some
Speaker 1: loosening in the labor market. What we want to see
Speaker 1: is continued moderation in the numbers. And this is the
Speaker 1: era which you know I'm trying to wring my head around,
Speaker 1: is that you know good and bad and bad is good.
Speaker 1: You know normally we would like to see what most
Speaker 1: of us would like to see, good economic data and
Speaker 1: you know, positive news in the economy, but that of
Speaker 1: course would mean higher for longer. THEMS Jennifer Lee does
Speaker 1: not believe the jobs data will change the Fed's upcoming
Speaker 1: hike in December. Stick with us all morning for full
Speaker 1: coverage of the November jobs report. Will break down the
Speaker 1: numbers with US Labor Secretary Marty Walsh live at ninety
Speaker 1: five Wall Street Time on Bloomberg Radio and television. Stocks
Speaker 1: in the U S you're a and as R treading
Speaker 1: water ahead of the jobs reporters and p futures are
Speaker 1: holding onto November's gains, but Morgan Stanley Chief US equity
Speaker 1: strategist Mike Wilson thinks this bear market rally could be sustained.
Speaker 1: We have more confident that this rally will continue into December.
Speaker 1: We think rache will go lower. Pal's commentaries right in
Speaker 1: line on what we've been saying, which is that they're
Speaker 1: gonna pause probably in January, and the market's getting in
Speaker 1: front of that. And this is the classic fit pause
Speaker 1: stock market rally. Morgan Stanley's Mike Wilson says traders can
Speaker 1: play the run up in December, but advises the average
Speaker 1: investor to buy bonds. Taking a look at oil, this morning,
Speaker 1: crudes headed for its biggest weekly gain in almost two months.
Speaker 1: There appear to be several catalysts. Looser COVID curbs in China,
Speaker 1: calls from the White House to halt crude sales from
Speaker 1: strategic reserves, and an opaque decision to cut supply by
Speaker 1: the most since checking prizes now, Nimex crude up six percent.
Speaker 1: That's about five cents trading now at seven cents per barrel.
Speaker 1: Let's turn to the banking sector now, amy Credit Sweez
Speaker 1: is in focus. This morning, Sherman Axel Ayman spoke exclusively
Speaker 1: with Bloomberg New saying the thinks mostly stemmed the huge
Speaker 1: outflow of client's assets that sent shares to a record low.
Speaker 1: Doubt was basically have stop book the soul is two
Speaker 1: or three weeks in October, womb and cis then flattening out.
Speaker 1: They have stopped this gratually coming back and particled in Switzerland.
Speaker 1: Shares of Credit Suite appear to be getting a boost
Speaker 1: from our interview with chairman axcel Ayman. Right now they're
Speaker 1: up six percent and Zerich. Stick with us for more
Speaker 1: for the exclusive interview with Bloomberg's ferencing Lakwak coming up
Speaker 1: shortly here on Bloomberg Day. And another sign of a
Speaker 1: slowing economy comes from Goldman Sachs Traders at the investment
Speaker 1: bank and see their year end bonuses cut. Sources say
Speaker 1: executives in the firm's Global markets division were warned this
Speaker 1: week their compensation pool will be slashed. Goldman's annual trading
Speaker 1: revenue is on track to top twenty five billion dollars.
Speaker 1: That would be its biggest revenue haul in more than
Speaker 1: a decade. All right, let's get the latest on Twitter now. Amy,
Speaker 1: the artist formerly known as Kanye West, is once again
Speaker 1: in trouble after another offensive post on the platform. Bloomberg
Speaker 1: Steve Rappaport joins us Live with the Deep Tales. Good
Speaker 1: morning Steve, Good morning Nathan and Amy. Elon Musk tells
Speaker 1: Yea to go away, suspending the rappers account for his
Speaker 1: latest anti semitic act. West posted an image combining the
Speaker 1: Star of David with a swastika, Musk tweeting he did
Speaker 1: his best with West, but Yea once again broke the
Speaker 1: platform's rule against incitement of violence. By the way, Post
Speaker 1: wasn't his first Nazi reference of the day. In a
Speaker 1: bizarre interview with conspiracy theorist Alex Jones, Yea wearing a
Speaker 1: full face mask with a Bible by his side, lavished
Speaker 1: praise on Adolf Hitler as an innovator while ignoring his
Speaker 1: massacre of six million Jews. Live in New York. I'm
Speaker 1: Steve Rappaport, Bloomberg Daybreak. All right, thank you, Steve. Let's
Speaker 1: turn to politics now, where Donald Trump is back in
Speaker 1: the news. The former president has lost another court battle.
Speaker 1: Bloomberg's Ad Baxtor reports the Eleventh Circuit has ruled Trump
Speaker 1: has no right to a special master. The ruling gives
Speaker 1: a major boost to prosecutors, who can now go ahead
Speaker 1: with her investigation and prosecution if it comes to that.
Speaker 1: The d o J is looking at the documents taken
Speaker 1: from Marrow Lago to see whether they had the highest
Speaker 1: level of secrecy or whether Mr Trump engaged in obstruction
Speaker 1: of justice. The court ruled the law is clear it
Speaker 1: cannot allow any subject of a search warrant to block
Speaker 1: the government investigation after the execution of the warrant. Trump
Speaker 1: can ask for a hearing of the full Court, and
Speaker 1: of course can petition the Supreme Court to intervene in
Speaker 1: San Francisco. I'm at Baxter, Bloomberg Daybreak. All right, thanks,
Speaker 1: Let's tend to the latest on China now. The Communist
Speaker 1: Party's top decision making body meets this month. Economists expect
Speaker 1: leaders will signal a more pragmatic approach toward COVID controls
Speaker 1: and put more focus on boosting economic growth. They say
Speaker 1: Beijing desperately needs more monetary and fiscal stimulus to support
Speaker 1: a recovery into next year. All right, Nathan, let's talk
Speaker 1: corporate news now, turning our focus to the auto industry.
Speaker 1: General Motor CEO Mary Barra joined Bloomberg Business Week yesterday
Speaker 1: for an exclusive interview looking ahead at GM's future product
Speaker 1: portfolio and outlook for autos in the current economy. We'll
Speaker 1: have the capacity to be able to sell a million
Speaker 1: in North America and Frinckley in China. We're going to
Speaker 1: have the products across the market that are going to
Speaker 1: allow us to to cheat that match FIRS. GM CEO
Speaker 1: Mary Barra made the comments on Bloomberg Business Week or
Speaker 1: Weekdays at two pm. Wall Street Time on Bloomberg Radio
Speaker 1: and seen live on YouTube and Bloomberg Quick Take. Catch
Speaker 1: the full interview with Mary Barra on Bloomberg dot Com
Speaker 1: and a couple of notes on the FED this morning.
Speaker 1: Amy FED Vice Chair for Supervision Michael Barr says the
Speaker 1: Central Bank could slow the pace of rate increases soon.
Speaker 1: At the same time, he says the hikes will not
Speaker 1: stop any time soon, and the Federal Reserve Bank of
Speaker 1: Chicago has appointed Austin Goulsby as its new president. He'll
Speaker 1: replace Charles Evans, who retires next month. SFB futures down
Speaker 1: a point, now futures down twenty three. Nastack futures are
Speaker 1: lower by ten points. You're listening to Bloomberg Daybreak