Speaker 1: Live from the Bloomberg Interactive Burgers Studios is his Bloomberg
Speaker 1: day Break for Monday, May second two. Coming up this hour.
Speaker 1: US stocks begin the new trading months, coming off the
Speaker 1: worst April in more than fifty years. Investors brace for
Speaker 1: this week's FED decision. Warren Buffett goes on a bind
Speaker 1: spree in the first quarter, and Nancy Pelosi makes a
Speaker 1: surprise visit to Ukraine. A new crime fighting strategy begins
Speaker 1: today in New York City. Plus senators are calling on
Speaker 1: President by the by disruptions of the solar industry. Michael
Speaker 1: blarn More and I'm John Stashower and sports ninth straight
Speaker 1: win for the Yankees, but Mets one another series, NBA
Speaker 1: playoff road winds from Milwaukee and Golden State. That's all
Speaker 1: training ahead on Bloomberg Daybreak on Bloomberg. He liveing free
Speaker 1: on New York, Bloomberg one, Washington, d C, Bloomberg one
Speaker 1: oh six one, Boston, Bloomberg nine sixties and Francisco Sirius
Speaker 1: x M one nineteen and around the world Old on
Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business App.
Speaker 1: Good Morning, I'm Nathan Hagar and I'm Karen Moscow u
Speaker 1: shtock in NIX futures are on the rise this morning.
Speaker 1: We're coming up to six o one on Wall Street,
Speaker 1: and we checked the markets every fifteen minutes throughout the
Speaker 1: trading day on Bloomberg SMP futures of seventeen points, DALN
Speaker 1: futures of one hundred fifty one, and Nownesday Teachers up
Speaker 1: sixty ten, Your treasury up three thirty seconds, the l
Speaker 1: two point nine two percent yield on the two year
Speaker 1: two point seven percent, and nine next screwed oil is
Speaker 1: down three percent at a hundred one dollars fifty cents
Speaker 1: of Daryl Nathan Karen Investors begin the month of May
Speaker 1: after a historically bad April. The SNP five hundred fell
Speaker 1: eight point eight percent for the worst April performance since
Speaker 1: nine seventy and tech investors haven't taken a beating like
Speaker 1: this in nearly fourteen years. The Nasdaq one hundred plunge
Speaker 1: more than thirteen percent in April, its worst performance since
Speaker 1: October two thousand date. Katie Nixon, his chief investment officer
Speaker 1: at Northern Trust, I mean, I think valuation is very
Speaker 1: fragile in this rising rate environment here and then at
Speaker 1: the shame time. You've got some fundamentals that you know,
Speaker 1: at best are sort of flattening out and at worst
Speaker 1: are showing some declining trends. In net such is sort
Speaker 1: of the poster child joined now by Amazon, that's really
Speaker 1: showing a weakening of demand. Northern Trust Chief investment Officer
Speaker 1: Katie Nixon notes the SMP five and the NASTAC one
Speaker 1: d of each fallen for four consecutive weeks. Well, Nathan
Speaker 1: Vallens have also been taking a pounding this year, and
Speaker 1: one of the biggest investors outside America things there may
Speaker 1: be more pain ahead. We get the latest live with Bloomberries,
Speaker 1: John Tucker, John Gobardan Karen Typically investors can take refuge
Speaker 1: in bonds, especially US treasuries, and for years they've been
Speaker 1: supported by Japanese buyers, but that's no longer the case.
Speaker 1: Japanese institutional managers are now fielding a great bond sell off.
Speaker 1: The largest overseas holder of treasuries has offloaded almost sixty
Speaker 1: billion dollars over the past three months. That's according to
Speaker 1: data from BEMO Capital Markets. There are several reasons market volatility,
Speaker 1: divergent monetary policy, and a weaker again and Japanese investors
Speaker 1: may wait for higher and higher rates before ever jumping
Speaker 1: back in lie to New York. I'm John Tucker, Bloomberg, debreak.
Speaker 1: All right, John, thank you. Of course, both bond and
Speaker 1: equity investors will be paying close attention to this week's
Speaker 1: policy decision from the Fed. It is one of the
Speaker 1: most anticipated in years, and we get a preview from
Speaker 1: Bloomberg's Michael McKay. The government reported Friday that employment costs
Speaker 1: rose the most since nine seven in the first quarter,
Speaker 1: while the Fed's favorite inflation gauge rose to the highest
Speaker 1: since nine two. And let's say that more than seals
Speaker 1: a fifty basis point rate increase from the Fed on Wednesday.
Speaker 1: It raises the question of whether the FED needs to
Speaker 1: keep raising by fifty or even seventy five going forward.
Speaker 1: They won't say, but Chairman j Pale will be asked
Speaker 1: about it at his news conference. The Fed will also
Speaker 1: be detailing how and when it will start reducing the
Speaker 1: balance sheet and trying to reassure Americans inflation is their
Speaker 1: top priority. Michael McKie Bloomberg Daybreak, All right, Mike, thank you.
Speaker 1: Of course, we'll have full coverage and analysis of Wednesday,
Speaker 1: said decision, beginning at one pm Wall Street time that
Speaker 1: day on both Bloomberg Radio and television. Well, Nathan, it's
Speaker 1: also another busy week for earnings, with more than one
Speaker 1: hundred sixty companies in the S and P five hundred reporting.
Speaker 1: We get a preview from bloombergs Shirley Pellett. Big technology
Speaker 1: firms and banks are behind us, but we'll be hearing
Speaker 1: from a broad swath of companies as investors assess the
Speaker 1: ongoing themes of inflation, consumer demand, and geopolitics. Sarah Malick
Speaker 1: is chief investment officer at Nouvene Earnest looked strong free
Speaker 1: quarters of companies are beating Arnies double digit revenue growth
Speaker 1: overall and about five or six percent. Arnis Among some
Speaker 1: of the names reporting this week Airbnb, A, I, G,
Speaker 1: A M D, Conico, Phillips, Ubert Lifts, Starbucks, young brands
Speaker 1: and travel names Expedia, Hilton, and Marriott. In New York,
Speaker 1: Charlie pet Bloomberg day break. All right, Charlie, thanks so.
Speaker 1: One company that already reported over the weekend was Berkshire Hathaway.
Speaker 1: The Warren Buffett conglomerates squeaked out a profit gain, but
Speaker 1: perhaps more importantly, the billionaire went on a buying spree
Speaker 1: in the first quarter. Let's get the lightest on that.
Speaker 1: Live from Bloombergshire, Nity Young, Good morning, Grena, good morning.
Speaker 1: Nathan Warren Buffett made forty one billion dollars in net
Speaker 1: stock purchases during the first quarter. It was his biggest
Speaker 1: buying spree in at least a decade, and a war
Speaker 1: and soaring US inflation did not deter him from doubling
Speaker 1: down on a tried and trusted strategy to navigate the
Speaker 1: fallout among the purchases. Berkshire raises its Chevron holdings, Buffett
Speaker 1: discloses that the company now owns an expanded nine point
Speaker 1: five percent stake in Activision Blizzard, and at the annual
Speaker 1: shareholders meeting, the one year old Buffett had his business partner,
Speaker 1: year old Charlie Munger, gave no indication that they planned
Speaker 1: to step back from their roles anytime soon. Live in
Speaker 1: New York. I'm Renita Young, bloom birth day break All right,
Speaker 1: Granny to thank you. Now, let's get to the latest
Speaker 1: on the war in Ukraine. After weeks of Russian bombardment,
Speaker 1: civilians are starting to leave a besieged steel plant in
Speaker 1: Marya Pole. President Zelenski says about a hundred men, women
Speaker 1: and children will arrive in Ukrainian control of territory this morning.
Speaker 1: And how Speaker Nancy Pelosi met with Poland's president today
Speaker 1: after surprise was to keep to get that story from Bloomberg,
Speaker 1: said Baxter. This was a well kept secret. Pelosi leading
Speaker 1: a congressional delegation pledging continued support and says continued usaid.
Speaker 1: Pelosi then traveled back to Poland in San Francisco. I'm
Speaker 1: at Baxter Bloomberg daybreak, All right, and thank you. Let's
Speaker 1: turn to the pandemic now, where our focus remains in China.
Speaker 1: Coronavirus lockdowns in the country, you're taking a significant toll
Speaker 1: on the economy over the weekend. Data showed both manufacturing
Speaker 1: and services activity plunged in April to their worst levels
Speaker 1: in more than two years. And in Australia, Nathan Quantas
Speaker 1: has revived a plan for the world's longest NonStop flights.
Speaker 1: They would connect Australia's East coast with the New York
Speaker 1: and London. The airline says it's buying twelve Airbus jets
Speaker 1: that can make the twenty hour journeys. Plantas will begin
Speaker 1: the service from Sydney and and again. Future is on
Speaker 1: the rise this morning, straight ahead your latest local headlines,
Speaker 1: plus a check of sports. And this is Bloomberg all right, Karen,
Speaker 1: Thanks Sixcess seven on Wall Street, fifty three degrees in
Speaker 1: Central Park. Both fans on the wheel this morning. We've
Speaker 1: got some nasty thunderstorms all through traffic. Coming up first,
Speaker 1: Michael bar with more on what's going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: A new crime fighting initiative begins today in New York City.
Speaker 1: Mayor Eric Adams says and the forty most violent precincts
Speaker 1: authorities will move neighborhood coordinating officers into evening patrols. Other
Speaker 1: plans include sending field intelligence officers to the street. Overall
Speaker 1: crime is up thirty last month compared to April of
Speaker 1: last year. Gun violence it's also on the rise. May
Speaker 1: Adams also says they will find people who cheat on
Speaker 1: paying subway fares in the city. Broadway theaters are ending
Speaker 1: the policy of requiring customers to show proof of vaccination.
Speaker 1: The Broadway League says in a statement that the owners
Speaker 1: and operators of all forty one Broadway theaters are extending
Speaker 1: the mask requirement at least through the end of May,
Speaker 1: but many will no longer check for vaccination status. President
Speaker 1: Biden spoke in Minneapolis at a memorial service for former
Speaker 1: President Walter Vice President Walter Mondale. Mondale died in April
Speaker 1: of last year at age nine. President Biden said he
Speaker 1: and Mondale, who was known as Fritz for close friends.
Speaker 1: I'm I moved to be with you here today as
Speaker 1: an honor one of the great giants in American history.
Speaker 1: And that's not hyperbole. Fritz was a giant in American
Speaker 1: political history. President Biden described Mondale as a dedicated patriot
Speaker 1: and public servant. The judge joined the Country Music Hall
Speaker 1: of Fame last night, just to day after Naomi Judd
Speaker 1: died unexpectedly. Naomi's daughter is Winona and Ashley Judd accepted
Speaker 1: the honor. Wenona Judd, this is the first time I've
Speaker 1: talked since saying goodbye to twenty A kiss draw on
Speaker 1: the forehead, and I walked away, and this is the
Speaker 1: first place I've been. Wenona and Ashley Judd said their
Speaker 1: mother died at the age of seventy six due to
Speaker 1: the disease of mental illness. Nearly two dozen senators today
Speaker 1: called on President Joe Biden to swiftly advance a trade
Speaker 1: probe that they said was already causing massive disruption in
Speaker 1: the U S. Solar industry. According to the letter from
Speaker 1: twenty two senators, the investigation into whether Chinese companies are
Speaker 1: circumventing decades old tariffs by assembling solar cells modules in
Speaker 1: Southeast Asia will severely harm American businesses and workers. Global
Speaker 1: News twenty four hours a day on here and on
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven hundred journalists
Speaker 1: analysts more than a hundred twenty countries. Hi, Michael Barn,
Speaker 1: this is Bloomberg, Nathan, Michael. Thanks coming up to the
Speaker 1: six ten on All Street. Time for the Bloomberg Sports Day.
Speaker 1: Here's John Stenshower. All right, Nathan. The Mets weekend, of course,
Speaker 1: began with the no hitter. It ended last night with
Speaker 1: Max Schers. We're giving up three home runs, but the
Speaker 1: Mets bats produced fifteen hits and attend to six win
Speaker 1: over the Phillies at City Field. Jeff McNeil had four
Speaker 1: of those hits, raising his average to three sixty one.
Speaker 1: Don Smith had four hits. He drove in three runs,
Speaker 1: so did Sterling Marte. The Mets have now played seven series.
Speaker 1: They have not had a sweep, but they've won all seven.
Speaker 1: The Yankees have had three straight series sweeps, nine wins
Speaker 1: in a row. In Kansas City, they trailed four to one,
Speaker 1: took the lead in the seventh innings going two runs
Speaker 1: without a hit, and they won six to four. Aaron
Speaker 1: Judge homerd with one out in the first inning. He
Speaker 1: hit another with two outs of the night. Judge had
Speaker 1: no homers in his first thirteen games. He's hit seven
Speaker 1: in his last eight games, and the Yanks take this
Speaker 1: nine game win streak into tonight's game in Toronto. NBA
Speaker 1: playoffs started Round two Milwaukee one in Boston one oh
Speaker 1: one to eighty nine. Your Honest son to the Compo
Speaker 1: had a triple double. Golden State in Memphis lost Draymond
Speaker 1: Green in the second quarter. He was ejected for a flagrant.
Speaker 1: Fouley held a one point lead at the end. They
Speaker 1: will throw it in fine eight Clark Clark bounce pass
Speaker 1: over to Moran, He'll drive in. Scooper's up. No good
Speaker 1: rebount Wig ups. The Warriors win the Larwriors win, Memphis
Speaker 1: stop the look they wanted and more couldn't finish it
Speaker 1: had told him State capture State one with Trebond grade
Speaker 1: in the locker road. The game had the call. Two
Speaker 1: more series openers tonight. It's also opening night of the
Speaker 1: Stanley Cup Playoffs, with a quartet of games, including the
Speaker 1: Bruins at Carolina the Hurricanes one of the three regular
Speaker 1: season meetings by a combined score of sixteen to one.
Speaker 1: Rangers in the Penguins Game one at the Garden tomorrow,
Speaker 1: John stash Ellardtenberg sports Nathan, thank you, John SMP. Futures
Speaker 1: now up eighteen points down, Futures up a hundred fifty
Speaker 1: five dance stack, futures up sixty seven points after the
Speaker 1: kind of April we haven't seen for stocks in half
Speaker 1: a century. Look at these markets next with Bloomberg's Danni Burger.
Speaker 1: You're listening to Bloomberg day Break. Bloomberg day Break brought
Speaker 1: to you by the Jewish Communal Fund j CFS. Donor
Speaker 1: advised fund is the smart choice to manage your philanthropy,
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Speaker 1: is it j c F n y dot org. Markets
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, The Bloomberg Business at and at Bloomberg Quicktape.
Speaker 1: This is a Bloomberg Business lash and I'm Cameron Moscow
Speaker 1: and you must on. Index futures are rebounding from Friday's
Speaker 1: bruising sell off, which was Wall Street's worst day in
Speaker 1: almost two years outside of the US. Doctor declining is
Speaker 1: disappointing economic data from China and the prospect of sanctions
Speaker 1: on Russian oil wag heavily on risk appetite. We checked
Speaker 1: the markets every fifteen minutes throughout the trading day. On
Speaker 1: Bloomberg SNP Future is up twenty boys down eaters of
Speaker 1: one hundred seventy one and nowsday futures up seventy two.
Speaker 1: The decks in Germany's down six tenths of a percent.
Speaker 1: Ten year treasury of three thirty seconds yield two point
Speaker 1: nine two percent. That yield on the two year two
Speaker 1: point seven percent. Nine mack screwed oil is down three
Speaker 1: point one percent on three dollars twenty seven cents at
Speaker 1: a hundred one dollars forty two cents a barrel. Comics
Speaker 1: called on one point seven percent on thirty three dollars
Speaker 1: at eighteen seventy eight fifty an ounce, the Euro one
Speaker 1: point oh five to four against the dollar, British pound
Speaker 1: one point to five seven seven, the yen at one
Speaker 1: twenty nine point nine four, and Bitcoin higher up more
Speaker 1: than one percent at thirty eight thousand, seven hundred sixty dollars.
Speaker 1: That's at Bloomberg Business Flash. Now here's Michael Barr with
Speaker 1: Moore on what's going on around the world. Michael, thank
Speaker 1: you very much. Karen. The evacuation has begun for civilians
Speaker 1: hold up at a steel plan in the Ukrainian city
Speaker 1: of mary Upol after nearly two months under siege by
Speaker 1: Russian forces. Local officials at people sheltering elsewhere in the
Speaker 1: city would also be allowed out. Today. In a surprise
Speaker 1: visit to Ukraine, speaker Nancy Pelosi promised continuing support. Today,
Speaker 1: Pelosi met with Poland's president. In the NBA playoffs, the
Speaker 1: Celtics lost to the box wh one eighty nine, and
Speaker 1: the opening game of their series, the Warriors beat the
Speaker 1: Grizzlies one seventeen, one sixteen in their Game one. In baseball,
Speaker 1: the Yankees and Mets one, the Orioles beat the Red
Speaker 1: Sox nine five, The Nationals beat the Giants eleven five,
Speaker 1: The A's Lost Global news twenty four hours a day
Speaker 1: on air end on Bloomberg Quick Take, powered by more
Speaker 1: than hundred journalists and analysts in more than a hundred
Speaker 1: twenty countries. I'm Michael Barr. This is Bloomberg Nathan Alright, Michael.
Speaker 1: Thanks at six nineteen on Wall Street Live from the
Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak as we
Speaker 1: get ready to kick off the trading month of May.
Speaker 1: We are joined now by Bloomberg TV anchor and markets
Speaker 1: correspondent Danny Burger. Danny, good to have you with us
Speaker 1: this morning, and I'm sure a lot of investors are
Speaker 1: feeling at least a little bit good they can finally
Speaker 1: close the books on one of the cruelest A brawls
Speaker 1: the markets seen in its history. Really yeah, I mean
Speaker 1: closed the books on it. But I guess the big
Speaker 1: question is is there more to come? I mean, it
Speaker 1: was a really painful month from the staff of their
Speaker 1: worst month for the NASDAC since two thousand eight. Even
Speaker 1: even just Friday added insult to injury. It was the
Speaker 1: worst single day dropped for the S and P since. So, yes,
Speaker 1: there has been a lot of pain in this market,
Speaker 1: but the forces that caused it be at the FED,
Speaker 1: war in Ukraine, issues with China's economy, those are going away,
Speaker 1: right and we're still seeing a VIX that's above thirty
Speaker 1: right at thirty three right now, pointing to potentially more
Speaker 1: volatility and more selling going on still in the European
Speaker 1: market exactly. Yeah, Europe looking pretty ugly today as well.
Speaker 1: I think the volatility story is an interesting one because
Speaker 1: it's not just bond market volatiky anymore. There was a
Speaker 1: long period of time this year where we said, Okay,
Speaker 1: the Fed is getting aggressive, they're going to raise interest rates,
Speaker 1: and it was really concentrated in bond equity is FX. Yes,
Speaker 1: they were having spasms, but compared to the bond market,
Speaker 1: they were pretty immune. Now you look at what's happened
Speaker 1: in April, stocks have started to act up, and crucially,
Speaker 1: the fex complex has started to act up, the dollar
Speaker 1: strengthening dramatically, it's best months in ten years, with the
Speaker 1: yen in the euro getting pummeled as well. When you
Speaker 1: look at these big cross asset moves, that's when you
Speaker 1: start to ask, is this the kind of thing that
Speaker 1: breaks something doesn't lead again? This question is more turmoil,
Speaker 1: right and when we think about the FED beginning it's
Speaker 1: decision making process on Wednesday, with that first decision where
Speaker 1: they're all but spelling out that there's going to be
Speaker 1: a fifty basis point move, I guess the question for
Speaker 1: investors is is there further to fall as the punch
Speaker 1: bowl gets removed even more? I mean, investors at the
Speaker 1: moment are pricing about a two and a half percent
Speaker 1: on FED rates by the end of the year, So
Speaker 1: that does imply that things are is going to continue
Speaker 1: to be aggressive from here. It is interesting though, because
Speaker 1: of the stock market sell off we've seen because of
Speaker 1: the dollar strength, financial conditions are very tight at the
Speaker 1: moment um save for the pandemic. They are the Titus
Speaker 1: eighteen when the said before had to pause its tightening
Speaker 1: path because of what happened to markets because of that
Speaker 1: said put so, the markets have I've already done some
Speaker 1: of the work from the said I will be interested
Speaker 1: to see if that continues. If the said doesn't have
Speaker 1: to hike as much as being implied right now um
Speaker 1: or you know, perhaps they'll ignore it. And just say, hey,
Speaker 1: we got a tame inflation. It's enemy number one. The
Speaker 1: put does not exist. If we do see a more
Speaker 1: aggressive FED, or even before those moves begin to take place,
Speaker 1: at least in the short term, does the focus turn
Speaker 1: more to fundamentals the earnings picture for these companies. Well, look,
Speaker 1: it's often said it's it's a stock pickers market, and
Speaker 1: it's usually not true. You usually can't just buy the
Speaker 1: index and be okay um. But in this type of environment,
Speaker 1: we have seen a lot of hedge funds able to outperform,
Speaker 1: a lot of stock pickers that perform. That doesn't mean
Speaker 1: it's easy, but it does mean that when there is
Speaker 1: this intense selling, often the baby gets down out with
Speaker 1: the bathwater, and opportunities do emerge. Opportunity to do that
Speaker 1: really fundamental analysis work becomes important. Of course, it doesn't
Speaker 1: always pay off. You see companies that report pretty solid
Speaker 1: earnings and still get beat up. Investors are are are
Speaker 1: putting a lot of scrutiny on this earning season. But
Speaker 1: it is a moment where there are divergences between stocks
Speaker 1: and opportunities, and our last thirty seconds are so here.
Speaker 1: Danny from the market participants that you're speaking to. Where
Speaker 1: is their sentiment lying in terms of sector moves? Is
Speaker 1: there still some hope for tech or are we moving
Speaker 1: into more defensive Oh, I might have bad news for
Speaker 1: you there. I've heard a lot of barishness about tech,
Speaker 1: and you can just look at what's happened to Amazon
Speaker 1: getting absolutely whacked last week. One sector really popular seems
Speaker 1: right now is commodities. Go for it for your inflationary edge.
Speaker 1: About if all else is failing, you know, at least
Speaker 1: some of these supply chain issues, some of the you know,
Speaker 1: unfortunate geopolitical events do lead to a higher commodities complex. Alright,
Speaker 1: great to have you on with us, Dandy, Thanks for this.
Speaker 1: Danny Berger, Bloomberg Television anchor Markets corresponded for Bloomberg News
Speaker 1: with Us this morning. As we get set for May,
Speaker 1: the trading month after a very tough April for stocks,
Speaker 1: looking ahead to this morning's market open, maybe some evidence
Speaker 1: of dip buying, with SMP futures up nineteen points, Staff
Speaker 1: futures up a hundred sixty three, Nasdaq futures higher by
Speaker 1: seventy points. Sell off continues in Europe, with the docks
Speaker 1: down six tenths percent. The cat in Paris lower by
Speaker 1: one point three percent. The footstee in London has a
Speaker 1: bank holiday off ten. Your treasury is up three thirty seconds,
Speaker 1: the yield two point nine two percent. Just ahead Warren
Speaker 1: Buffett's buying spree, and Nancy Pelosi goes to Kiev. Five
Speaker 1: things you need to notice start your day. Coming up
Speaker 1: on Bloomberg day Break Bloomberg eleven three oh weather. The
Speaker 1: rain's gonna end early. It'll turn cloudy today with a
Speaker 1: high in near sixty, clouds mid sixties Tomorrow. Showers return
Speaker 1: Wednesday with a high near sixty. Right now fifty three
Speaker 1: degrees in Central Park. Broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York, Bloomberg Living Free to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one oh six one
Speaker 1: to San Francisco, Bloomberg N sixty to the Country, Sirius
Speaker 1: XM to the one nine team, and around the globe
Speaker 1: the Bloomberg Business apt and Bloomberg Radio dot Com. This
Speaker 1: is Bloomberg Daybreak six thirty on Wall Street. Good morning,
Speaker 1: I'm Nathan Hager and I'm Ferard Moscow. We're just about
Speaker 1: three hours away from the open of US trading. Time
Speaker 1: for the five things you need to know to start
Speaker 1: your day. Broncho you ba I, interact your broker, Simple
Speaker 1: ibk our Global Trader app depositing your local currency and
Speaker 1: trade stocks in the US, Europe and Asia. Start your
Speaker 1: free trio at ibkr dot com, Slash Global Trader. First
Speaker 1: Traders enter May after a historically poor April. The NASDAC
Speaker 1: had its worst month since October two thousand eight, and
Speaker 1: the SNP had its worst April since nineteen seventy. When
Speaker 1: it comes Karen Is, the Fed is expected to raise
Speaker 1: interest rates at this week's fo MC meetings. Miller t
Speaker 1: Back chief market strategist Matt Mayley says if inflation persists,
Speaker 1: the Fed's path forward becomes murkier. That's the fear that
Speaker 1: the Fed is going to have no choice but to
Speaker 1: tighten further and and calling, you know, because of the
Speaker 1: fear s translation, and that's going to cause the market
Speaker 1: to fall further than it has. Matt Maylee, chief market
Speaker 1: strategist of Miller Tabac, says traders should take advantage of
Speaker 1: the recent sell off on the bond market is also
Speaker 1: facing around Nathan and Bloomberg's John Tucker tells US that's
Speaker 1: being fueled by Japanese investors. John good Morning, Good morning, Karen.
Speaker 1: Japanese institutional managers, known for their legend or a US
Speaker 1: debt buying sprees in recent decades, now fueling the Great
Speaker 1: bond sell off. The largest overseas holder of US treasuries
Speaker 1: has offloaded almost sixty billion dollars over the past three months.
Speaker 1: Currency hedging costs of off set the appeal of higher
Speaker 1: US yields of Japanese investors may not return it to
Speaker 1: the benchmark ten year yield trades firmly above three percent.
Speaker 1: Live in New York. I'm John Tucker, Bloomberg Daybreak, All right, John,
Speaker 1: Thanks And over the weekend, Warren Buffett conglomerate Berkshire Hathaway
Speaker 1: reported earnings that revealed the billionaire was active in Q one. Bloomberg.
Speaker 1: Unita Young joins US Live with Mark. Good morning, Grnina,
Speaker 1: Good morning, Nathan. Warren Buffett made forty one billion dollars
Speaker 1: in net stock purchases during the first quarter, his biggest
Speaker 1: buying spree in at least a decade, and a war
Speaker 1: and story US inflation did not deter him from doubling
Speaker 1: down on a tried entrusted strategy to navigate the fallout.
Speaker 1: Among the purchases, Berkshire raises its Chevron holdings, and the
Speaker 1: company now owns an expanded nine point five percent stake
Speaker 1: in Activision Blizzard, and at the annual shareholders meeting, the
Speaker 1: nine year old Buffet gave no indications he plans to
Speaker 1: step back from his role. Live in New York, I'm
Speaker 1: gonna need a young Bloomberg day break, all right, we
Speaker 1: need to thank you. Overseas, in Ukraine, about a hundred
Speaker 1: civilians were evacuated from the besieged steel plant in the
Speaker 1: port city of Mario Pohl. Ukrainian President Vladimir's lens came
Speaker 1: with the US Sounds figure Nancy Pelosi during a surprise
Speaker 1: visit this weekend. And Kiev, the House Speaker met with
Speaker 1: Poland's president today. And that's the five things you need
Speaker 1: to notice start your day. Brought to you by Interactive Brokers.
Speaker 1: This is Bloomberg. Thanks Scaring sixty three on Wall Street.
Speaker 1: Storm's reven through fifty three degrees in Central Park of
Speaker 1: some improvement on the New Jersey Transit Northeast Quarter. Details
Speaker 1: coming up in traffic First, Michael Barr with more on
Speaker 1: what's going on in New York and around the world. Michael,
Speaker 1: good morning, Good morning, Nathan. New ethnic crime efforts begin
Speaker 1: today in New York City. Mayor Eric Adams says in
Speaker 1: the most forty violent precincts, authorities will move of neighborhood
Speaker 1: coordinating officers into evening patrols. Other plans include sending field
Speaker 1: intelligence officers to the street. Overall crime is up thirty
Speaker 1: last month compared to April of last year. Mayor Adams
Speaker 1: also says they will crack down on fair cheaters in
Speaker 1: the subways. Hearing is set for today to determine if
Speaker 1: the remaining three survivors of the Tulsa Race massacre will
Speaker 1: be able to take their case to trial. All three
Speaker 1: remaining survivors are over one hundred years old, and their
Speaker 1: lawyers will arguing that the city should be held accountable
Speaker 1: for the public nuisance created by the nineteen one massacre. However,
Speaker 1: City council Member Vanessa Hall Harper says the City of
Speaker 1: Tulsa's lawyers are using the courts to get around a
Speaker 1: community led plan to compensate them. To use beyond apology
Speaker 1: to discredit this case is nothing but one of the
Speaker 1: tricks played by white supremacy, and I'm not falling for it.
Speaker 1: The so called Beyond Apology project was passed to examine
Speaker 1: how to repair damage caused by the massacre. The juds
Speaker 1: were in in the Country Music Hall of Fame last night,
Speaker 1: just to day after singer Naomi Judd died. Her daughter Wenona,
Speaker 1: who was the other half of the singing duo, spoke
Speaker 1: in accepting the award alongside her sister Ashley. I'm gonna
Speaker 1: make this fast because my heart's broken and I feel
Speaker 1: so blessed, and it's a very strange dynamic to be
Speaker 1: this broken in this blessed. Wenona and Naomi Judd were
Speaker 1: among the most popular duos of the nineteen eighties. The
Speaker 1: family said Naomi Judd died at the age of seventy
Speaker 1: six due to the disease of mental illness. A Shanghai
Speaker 1: nursing home resident was mistakenly taken to the morgue while
Speaker 1: still alive. It comes as the city's COVID nineteen I'll
Speaker 1: break in. Prolonged lockdown have stretched medical facilities to the
Speaker 1: breaking point. The municipal government says it is investigating. Warmer
Speaker 1: temperatures may lift your spirits, but it could be a
Speaker 1: challenging time for anyone with allergies. Experts say masks can
Speaker 1: offer protection from common allergens more problematic during the spring.
Speaker 1: Dr dry and Sutton says it's important to change your
Speaker 1: mask regularly. If it's a cloth mask, wash it regularly
Speaker 1: because those allergians can get trapped on the outside that
Speaker 1: can constantly expose you and get you symptomatic. Dr Sutton
Speaker 1: also told ABC We're a well fitted, high quality mask.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quittake, powered by more than twenty seven under
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael
Speaker 1: bar this is Bloomberg Naked, Thanks Michael. Just about six
Speaker 1: thirty six on Wall Street. John Stanshire has the Bloomberg
Speaker 1: Sports Updad. Thanks Nathan Yankees and Mets two best records
Speaker 1: in baseball. Mets in Phillies last night at City Field
Speaker 1: next Yers, who did not have his best stuff either,
Speaker 1: three home runs one to his Plumber teammate Brice Harper,
Speaker 1: two more to the Met killer from last year. Kyle
Speaker 1: Schwarber and the Phillies hit four home runs and all
Speaker 1: the Mets did not hit any and yet Met's one
Speaker 1: ten six, the fifteen hit attack and showers were able
Speaker 1: to improve the four and oh before the Mets one
Speaker 1: another series. There's seventh in a row. The Yankees one
Speaker 1: another game, ninth in a row for just the sweep
Speaker 1: in Kansas City six to four. Aaron Judge a long
Speaker 1: home run on the first inning and the Royals led
Speaker 1: four to one. The Yanks team back. Judge had another
Speaker 1: homer in the nineties at seven homers in his last
Speaker 1: eight games. Yanks played tonight in Toronto, top two teams
Speaker 1: in the Al East. Yanti managers Aaron Boone. Obviously, they're
Speaker 1: a really good team off to a good start as well. Um,
Speaker 1: you know, a team I'm sure we're gonna have to
Speaker 1: battle with all year. Uh school want to get to
Speaker 1: where we want to go, so uh looking forward to
Speaker 1: going up there and playing against one of the games best.
Speaker 1: Yanks start the series game and a half ahead of
Speaker 1: the Blue Jays Mets tonight pick on the Atlanta Praise
Speaker 1: at City Field. NBA playoffs to start around two two
Speaker 1: wins by the road teams Milwaukee in Boston one on
Speaker 1: one to eighty nine. Janas sent to the Compo at
Speaker 1: a triple double Golden State a one seventeen one six
Speaker 1: team win in Memphis. The other two series start tonight.
Speaker 1: It's also the start of the Stanley Cup playoffs tonight
Speaker 1: with four games Rangers in Pittsburgh. Penguins begin their series
Speaker 1: tomorrow night at the Guarden. The Rangers top scorer r
Speaker 1: Timmy pannerin injured at the end of the regular season.
Speaker 1: He's been cleared to play the series over golf in Mexico,
Speaker 1: waiting for John Robbins first since last year's US hoping
Speaker 1: Jo's actually went Gruberg Sports Nathan all Right, John, Thanks
Speaker 1: six thirty seven on Wall Street. Time to take a
Speaker 1: look at some of the stocks moving in the pre market.
Speaker 1: Bloomberg Radio and TV Markets correspondent Crety gooped this here
Speaker 1: to help us kick off the trading month of May,
Speaker 1: and it's getting off to a very interesting start creaty
Speaker 1: thanks to Warren Buffett. Thanks to Warren Buffett, the Berkshire
Speaker 1: bid is alive, or the Buffet Bit, if that's what
Speaker 1: you want to call it. Two stocks moving in the
Speaker 1: pre market that you really want to keep your eye on.
Speaker 1: I wanna start with Activision here, a t V I
Speaker 1: is your Taker up three percent. Now. Over the weekend,
Speaker 1: the Buffet Berkshire Hathaway annual kind of shareholder meeting happened
Speaker 1: in Omaha, Nebraska, and he kind of talked about what
Speaker 1: his holdings were, what why he has them, what his
Speaker 1: future kind of thoughts are on the overall economy. Actually
Speaker 1: said he's kind of bullish on the economy, he's bullish
Speaker 1: on stocks. But he also really dug into Activision a
Speaker 1: t V I is your Taker, saying it's an arbitrage
Speaker 1: deal and the Nathan you'll remember that activity And was
Speaker 1: bought up by Microsoft, or the deal at least was
Speaker 1: created to be to buy be bought by Microsoft. It
Speaker 1: really helps them align some of the Call of Duty.
Speaker 1: For example, Microsoft owned Xbox, which is kind of the
Speaker 1: platform for lack of a better term, whereas a Call
Speaker 1: of Duty is owned by Activision um. Activision also was
Speaker 1: undergoing some some personal kind of issues as well. Nevertheless,
Speaker 1: Warren Buffett says, well, first off, we have to kind
Speaker 1: of build up their shares because there's an arbitrage deal here,
Speaker 1: Microsoft looking to buy Activiston for nine dollars to share.
Speaker 1: Activision shares only trading at seventy seven dollars, So naturally
Speaker 1: you have a little bit of the arbitrage play there.
Speaker 1: And when Warren Buffett pointed that out, Activision shares caught
Speaker 1: quite a boost. At least that's up three point two
Speaker 1: percent in pre market trading. The other one he really
Speaker 1: mentioned was Chevron. Nathan c v x's your taker. Now,
Speaker 1: given that oil prices are down this morning, you are
Speaker 1: seeing Chevron drop in tandem. But keep an eye on
Speaker 1: this one because remember warm Buffet has already built up
Speaker 1: as occidental shares, So Chevron as kind of play on
Speaker 1: energy is pretty interesting. Any other interesting moves out side
Speaker 1: the Berkshire bid creaty, Let's stick with the commodity story, right,
Speaker 1: because that was a big part of what Warren Buffett
Speaker 1: was talking about when it comes to the oil space.
Speaker 1: But this is also a move that you're seeing outside
Speaker 1: of the oil space. In copper. For example, Freeport Macaron
Speaker 1: fc X is your ticker down two point three percent.
Speaker 1: I mentioned oil prices were down. A lot of that
Speaker 1: has to do with the growth story, while that growth
Speaker 1: story is filtering into copper prices as well, and therefore
Speaker 1: having a read through into a one of the world's
Speaker 1: largest copper producers, which of course is Freeport macroon f
Speaker 1: c X. As I mentioned, Nathan down two point three percent,
Speaker 1: and then I want to point out one more stock
Speaker 1: to put on your radar. EPAM Systems e p A
Speaker 1: M down one point four percent. This is despite getting
Speaker 1: a raised recommendation over at Piper Sailor to overweight citing
Speaker 1: healthy demand for digital I T services. No, remember, this
Speaker 1: is a company that has a huge amount of personnel
Speaker 1: in Ukraine and Russia, so that might be a reason
Speaker 1: it's lower on the day, All right, Bloomberg Radio on
Speaker 1: TV Markets correspondent Crety Goop keeping an eye and all
Speaker 1: that's happening in the pre market, looking at stocks as
Speaker 1: a whole, out to the open for the month of May.
Speaker 1: Futures moving higher, SMP futures up almost nineteen points, STUFF
Speaker 1: futures up a hundred fifty nine, NASTAC futures are higher
Speaker 1: by seventy five points. The tenure treasury is up three
Speaker 1: thirty seconds, the yield two point nine to per cent.
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather.
Speaker 1: Clouds this afternoon with highs in the upper fifties, will
Speaker 1: be in the mid sixties under cloudy sky. Tomorrow. Showers
Speaker 1: return Wednesday with a high near sixty right now stormy
Speaker 1: and fifty three degrees in Central Park. Markets, headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape is
Speaker 1: a Bloomberg Business Flash, and I'm Karen Moscow future is rising.
Speaker 1: This morning, we get to the first Word Breaking news
Speaker 1: desk for today's morning call. Here's Bill Maloney, Bill, good morning,
Speaker 1: and good morning, Karen. A modest bounce in the US
Speaker 1: futures after Friday's plunge, without futures up a hundred forty
Speaker 1: three points, subs gained sixteen. NAZDA futures are higher by
Speaker 1: sixty four the US ten year old at two point
Speaker 1: nine two. Gold is down nineteen. Oil is in the red,
Speaker 1: but bitcoin is higher by one point three percent. Japan
Speaker 1: was a little changed overnight, while up markets are in
Speaker 1: the red this morning and back in the US. On
Speaker 1: the economic front, at Manufacturing p M I and at
Speaker 1: ten o'clock construction spending and I s M Manufacturing. In
Speaker 1: other news, Buffet boosted his steak in Chevron and wrapping
Speaker 1: things up wire Houses was cut to market perform over
Speaker 1: at BMO America was raised to overweight over Red Piper
Speaker 1: live from the first to Breaking News Dotcom Doll Maloney, Karen,
Speaker 1: all right, Bill, thank you and to hear live breaking
Speaker 1: news of your Bloomberg type squawk on your term and
Speaker 1: I'll sc you a w u K and that's a
Speaker 1: Bloomberg business flash. Now here's Michael Barrow with more on
Speaker 1: what's going on around the world. Montal, Karen, thank you
Speaker 1: very much. In Ukraine, the United Nations and Red Across
Speaker 1: were able to successfully eva you wait about the hundreds
Speaker 1: civilians from a besiege steel plant in merry Upole. However,
Speaker 1: many more remained there alongside Ukrainian fighters. Meanwhile, House Speaker
Speaker 1: Nancy Pelosi and other lawmakers are continuing their overseas trip.
Speaker 1: After meeting with Ukrainian President Zelinski and Kiev yesterday, Pelosi
Speaker 1: and other U S lawmakers met with Polish President Duda
Speaker 1: among other Polish officials in Warsaw today. In the NBA playoffs,
Speaker 1: the Celtics lost to the Bucks one oh one eighty
Speaker 1: nine in the opening game of their series. The Warriors
Speaker 1: beat the Grizzlies one seventeen one sixteen in their game one.
Speaker 1: In baseball, the Yankees and Mets one. The Orioles beat
Speaker 1: the Red Sox nine five. The Nationals beat the Giants
Speaker 1: eleven five. The A's lost. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty d journalists and analysts and more than
Speaker 1: a hundred twenty countries. I'm Michael bar This is Bloomberg.
Speaker 1: The following commentary is from Bloomberg Opinion. How often do
Speaker 1: we have to get COVID to stop getting COVID? I'm
Speaker 1: Justin Fox, a columnist for Bloomberg Opinion. The mucous membrane
Speaker 1: in the nose and throat has its own immune system
Speaker 1: of sorts, and the COVID nineteen vaccines available so far
Speaker 1: don't target it. That's why they've had only limited success
Speaker 1: in preventing transmission of the disease, even as they've been
Speaker 1: great at keeping it from spreading to the lungs and
Speaker 1: causing severe illness. German virologist Christian Drosten predicted this now.
Speaker 1: He says that getting to an endemic COVID with only
Speaker 1: modest seasonal outbreaks is going to have to involve widespread
Speaker 1: mucostal immunity. Nasal spray vaccines currently under development might do
Speaker 1: the trick, but the likelier path will be most of
Speaker 1: us getting COVID again and again. How many times in
Speaker 1: the range of a number that you can count on
Speaker 1: one hand, Drosten said last month, I'm justin Fox. For
Speaker 1: more opinion, please go to Bloomberg dot com, Slash Opinion
Speaker 1: or O P I n go on the Bloomberg terminal
Speaker 1: has been Bloomberg Opinion and Bloomberg Opinion commentaries can be
Speaker 1: heard every weekday at this time, and terminal customers can
Speaker 1: read more at O P I n go. And it
Speaker 1: says fifty on Wall Street. Let's turn to news now
Speaker 1: and science and technology with the Bloomberg n j i
Speaker 1: T Stem Report brought to you buy New Jersey Institute
Speaker 1: of Technology n j i T is dedicated to bolstering
Speaker 1: support for female and minorities students pursuing careers and high
Speaker 1: paying STEM industries. Learn more at n j i T
Speaker 1: dot e DU and here's just making news in science, Technology, engineering,
Speaker 1: and math. Nearly two dozen senators are employing President Biden
Speaker 1: to swiftly advance a trade probe that they say, was
Speaker 1: already causing massive disruption in the U S solar industry.
Speaker 1: The senators say the investigation into whether Chinese companies are
Speaker 1: circumventing decade old tariffs by assembling solar cells and modules
Speaker 1: in Southeast Asia will quote severely harm American businesses and
Speaker 1: workers as long as it continues. Coronavirus lockdowns in China
Speaker 1: are taking a significant and toll in the country's economy
Speaker 1: over the weekend. Official data show that both manufacturing and
Speaker 1: services activity plunged in April to their worst levels in
Speaker 1: more than two years. Indexes for exports and imports also slumped,
Speaker 1: and Apple has been hit by a formal antitrust complane
Speaker 1: from the European Union for restricting access to technology and
Speaker 1: services that allow users to make payments direct from their
Speaker 1: phones their iPhones. That is, the European Commission says it's
Speaker 1: sent a so called statement of objections alleging how the
Speaker 1: tech giant abuses its dominance over mobile wallets on its
Speaker 1: devices via its Apple Pay service. If confirmed, the company
Speaker 1: could face hefty fines under EU antitrust rules and as
Speaker 1: a Bloomberg n j I t STEM report. Nathan all Right,
Speaker 1: Karen thank you. We're live from the Bloomberg dittre Active
Speaker 1: Broker studios. Or it's almost six fifty two on Wall Street.
Speaker 1: Time out to check what's going on in d C.
Speaker 1: Some of the top stories in our nation's capital include
Speaker 1: how Speaker Nancy Pelosi's unannounced trip to kiv Ukrainian Ambassador
Speaker 1: Xana Markarova called the gesture a special delight. We have
Speaker 1: c in how the US has been leading this sappoints.
Speaker 1: We have seen how all the democratic worlds united abound.
Speaker 1: Ukraine Ambassador Markarova was on a b C S this week.
Speaker 1: President Biden is pushing another thirty three billion dollars to
Speaker 1: aid Ukraine's war effort. Democrat Tim Caine sits on the
Speaker 1: Senate Armed Services and Foreign Relations committees. We need COVID aid,
Speaker 1: we need Ukraine aid. We should do them together or separately.
Speaker 1: But we shouldn't wait around. And I think that's what
Speaker 1: May needs to be about for US is getting both
Speaker 1: of these done. Senator Kane was on CBSS Face the Nation.
Speaker 1: Also making news, Homeland Security Secretary Alejandro may Orcas preparing
Speaker 1: for a migrant surge as Title forty two authorities at
Speaker 1: the border expire in three weeks. Ma Orcus tells Fox
Speaker 1: News Sunday they've been working on a plan since September.
Speaker 1: One of the pillars of that plan is to work
Speaker 1: with our partners to the south and really ensure that
Speaker 1: they manage their respective borders. Fox News Sunday, Face the
Speaker 1: Nation and this can be heard every Sunday right here
Speaker 1: on Bloomberg Radio. For more, We're joined live by Bloomberg
Speaker 1: Government reporter Emily Wilkins. Emily, good morning. Obviously, the big
Speaker 1: news over the weekend how Speaker Pelosi leading that Congressional
Speaker 1: delegation to Kiev. Uh. The the Congress members have moved
Speaker 1: on to Poland, but this is another major symbolic gesture
Speaker 1: by the US of support for Ukraine. Absolutely, Nathan, I mean,
Speaker 1: this is at this point the highest dranking US official
Speaker 1: to visit Kiev, to to really walk the streets, to
Speaker 1: meet President of Vladimir z Alinsky, and to really come
Speaker 1: off with what they say is meant to show how
Speaker 1: firmly the US is standing with Ukraine. At this point,
Speaker 1: Blosi bow to quickly pass that thirty three billion dollars
Speaker 1: UH for Ukraine aid that President Biden requested. Now the
Speaker 1: House isn't in session this sweek. Members are back in
Speaker 1: their districts, but we know the Senates in session, and
Speaker 1: the Senate does have ways to start moving on legislation,
Speaker 1: so could potentially be ready in House comes back. But
Speaker 1: there are a lot of questions right now about that aid,
Speaker 1: whether or not they're going to try and tie a
Speaker 1: COVID funding to it, whether or not that's going to
Speaker 1: wind up having some immigration policies attached to it. Um.
Speaker 1: This is the thing with these must pass bills that
Speaker 1: have brought bipartisan support me than they tend to attract
Speaker 1: other stuff because lawmakers know they're going to move. Will
Speaker 1: that other stuff potentially slow the works on Capitol Hill
Speaker 1: if it does, if we do see some amendments that
Speaker 1: aren't directly related to Ukraine, and it absolutely could. There's
Speaker 1: still a lot of controversy right now about President Biden's
Speaker 1: plan to end that ban on the southern border that
Speaker 1: made it easier to to turn migrants away under pandemic
Speaker 1: air policies, and that's something Republicans have really vowed to
Speaker 1: push for with particular funding. However, we don't really know
Speaker 1: yet if Republicans would tried that with the aid from
Speaker 1: Ukraine just because there is so much support for Presidents
Speaker 1: SKI and such a wide acceptance that he does continue
Speaker 1: to need funding for weapons, for humanitarian aid to continue
Speaker 1: to sort of go at this war with Russia. You
Speaker 1: mentioned the expiration of the title forty two authorities. Let's
Speaker 1: move on to that, because Homeland Security Secretary Mayorcus was
Speaker 1: asked about that repeatedly over the weekend. He says, there's
Speaker 1: a six point plan. What's the feeling on Capitol Hill
Speaker 1: about whether that six point plan has been spelled out
Speaker 1: well enough or whether it's going to be enough for
Speaker 1: a potential migrant surge this spring. It doesn't seem at
Speaker 1: this point like all lawmakers are convinced, even all Democratic
Speaker 1: lawmakers are convinced that this plan is going to be enough.
Speaker 1: I mean, Maracas has been on the hill, he's been
Speaker 1: trying to talk with lawmakers about the plan. He hasn't
Speaker 1: been able to make all aspects of public decent because
Speaker 1: he's there's concerned that if they do, that might sort
Speaker 1: of aid cartels and drug dealers who work across the
Speaker 1: border in terms of how they maneuver. So he doesn't
Speaker 1: want to be too transparent in public. But when you
Speaker 1: talk to members even they continue to have some concerns.
Speaker 1: Are a number of Democrats that have asked that, you know,
Speaker 1: while of this Title forty two is expected to be lifted,
Speaker 1: one they said, hold on, can we delay that deadline
Speaker 1: for a little bit and just need a better understanding
Speaker 1: and a more comprehensive plan about what's going to happen.
Speaker 1: And you even heard Mara Cause say this past weekend
Speaker 1: that the U S system could come under immense pressure
Speaker 1: if there's a surge of more than eighteen thousand migrants
Speaker 1: at the border of the day. That's what they're preparing for,
Speaker 1: but there's really no way for them to know at
Speaker 1: this point what kind of strained immigration system is going
Speaker 1: to be under. Now, we're gonna see a lot of
Speaker 1: this play out in just the next few weeks, when
Speaker 1: those Title forty three authorities are scheduled at least to
Speaker 1: expire on May the twenty three. Emily Wilkins and Bloomberg Government,
Speaker 1: as always thinks for keeping us up on top of
Speaker 1: what's happening in the nation's capital. You can read more
Speaker 1: about all these stories at Bloomberg dot com or on
Speaker 1: the Bloomberg termin and listen to Bloomberg Radio in Washington,
Speaker 1: Bloomberg and one oh five point seven fm h D
Speaker 1: two SMP futures are higher by fourteen points. Right now,
Speaker 1: dal Future is up a hundred thirty six. NASTAC futures
Speaker 1: are higher by fifty six points. But the selling continues
Speaker 1: in Europe, with Germany's decks down seven tenths percent. The
Speaker 1: cat in Paris is lower by one point four percent.
Speaker 1: The footste London is closed today for a bank holiday.
Speaker 1: Ten Your Treasury is up five thirty seconds. The yield
Speaker 1: two point nine one percent yield on the two year
Speaker 1: two point seven zero nime X crew down two point
Speaker 1: eight percent, down two dollars cents and a hundred one
Speaker 1: dollar seventy four cents of barrel. Bloomberg surveillance is straight
Speaker 1: ahead for Karen Moscow. I'm Nathan Hagar, and this is
Speaker 1: Bloomberg