Speaker 1: Live from the Bloomberg Interactor Burgers Studios. Is Floomberg Daybreak
Speaker 1: for Friday, March eleven two. Coming up this hour. Russia
Speaker 1: continues air strikes in Ukraine as the death toll from
Speaker 1: the war mounts. President Biden calls for an end to
Speaker 1: normal trade relations with Russia. The Senate clears the spending
Speaker 1: bill that includes aid for Ukraine, and Goldman Sachs warn't
Speaker 1: about the risk of a US recession. New York Mayor
Speaker 1: Eric Adams unveils his economic development plan. Plus New Jersey
Speaker 1: residents say no self served gasoline. I'm Michael bar More Ahead,
Speaker 1: I'm John Stashdown Sports. The baseball lockout is over. Opening
Speaker 1: day of April seventh. Big win for the Nets. The
Speaker 1: Rangers lost, heartbreaking loss for St. John. That's all straight
Speaker 1: Ahead on Bloomberg day Break on Bloomberg elim Freo, New York,
Speaker 1: Bloomberg n Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nine Team,
Speaker 1: and around the world. Old on Bloomberg Radio dot Com
Speaker 1: and via The Bloomberg Business or Good Morning. I'm Nathan Hagar,
Speaker 1: and I'm fair at Moscow and US DOT Index futures
Speaker 1: are moving higher this morning and it's coming up to
Speaker 1: five oh one on Wall Street. IM gonna check the
Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg
Speaker 1: SNP futures of seventeen points down, futures have one hundred
Speaker 1: five NASDAG futures up sixty four the decks in Germany's
Speaker 1: at one point two percent ten. Your treasury down one
Speaker 1: thirty second you had one point nine eight percent and
Speaker 1: they yield on the two year one point seven one percent,
Speaker 1: and n i'm ex screwde oil is up one point
Speaker 1: eight percent, up a dollar ninety and hundred seven dollars
Speaker 1: ninety two cents a barrel. Day been all right, Karen.
Speaker 1: We'll have more on the markets in a minute, but first,
Speaker 1: the latest on the war in Ukraine to cities in
Speaker 1: western Ukraine were hit by air strikes overnight. Those locations
Speaker 1: had been far from the site of recent fighting. Russia
Speaker 1: is also not letting up on the city of Mariopol
Speaker 1: after the bombing of a maternity and children's hospital. Brigs
Speaker 1: and Baxter as the latest civilians trapped inside the frigid
Speaker 1: city are scrounging for food and fuel under constant bombardment.
Speaker 1: Many don't even have heat. Michael nine, Highest, President and
Speaker 1: CEO of UNISEF, says the toll on children is immeasurable.
Speaker 1: Then in Ukraine, for years we have that Steven in
Speaker 1: in eight different locations there that are were working directly
Speaker 1: with children, children that are in bunker's, children that are fleeing.
Speaker 1: Ukraine says more than thirte hundred people have died in
Speaker 1: the ten day surge in the city in San Francisco.
Speaker 1: I'm at Baxter Bloomberg Daybreak, all right, and thank you.
Speaker 1: The US is making more moves to isolate Moscow. Now
Speaker 1: it looks like Russia will lose its preferred trade status
Speaker 1: with the United States, and Amy Morris has details from
Speaker 1: our Bloomberg newsroom in Washington. President Biden today is expected
Speaker 1: to call for an and to normal trade relations with Russia,
Speaker 1: putting them in the same category as Cuba and North Korea.
Speaker 1: This clears the way for increased tariffs on Russian imports. Biden,
Speaker 1: can't UNI, I do a really call for the change
Speaker 1: in Russia's trade status. That authority lies with Congress, where
Speaker 1: lawmakers are calling for that revocation, and sources tell Bloomberg
Speaker 1: News the president's announcement will come alongside the Group of
Speaker 1: Seven Nations and European Union leaders, which are also calling
Speaker 1: for their own reveal of Russia's trade status. In Washington,
Speaker 1: I'm amy more as Bloomberg daybreak, al right, Amy, thanks.
Speaker 1: The Senate has passed a spending bill that includes security
Speaker 1: and humanitarian aid for Ukraine. Let's get the details life
Speaker 1: from Bloomberg's who need a young Good morning Radida, Good
Speaker 1: morning Nathan. Just over thirteen billion dollars of that package
Speaker 1: goes to Ukraine for humanitarian and security aid, and it's
Speaker 1: overwhelmingly approved under a bipartisan sense of urgency. Now for Democrats,
Speaker 1: completing this bill in an era of hyperpartisanship is a
Speaker 1: major achievement. The government had been using Trump era program
Speaker 1: funding levels since the start of the fiscal year on
Speaker 1: October one, and now domestic agencies will get a nearly
Speaker 1: seven percent boost. The spending bill now helps to President
Speaker 1: Biden's desk for his Nature live in New York. I'm
Speaker 1: goneed a young Bloomberg daybreak, all right, berneda thank you. Meantime,
Speaker 1: we are seeing more financial companies cutting ties with Russia,
Speaker 1: including JP Morgan and Bloomberg's Charlie Pellett has a story.
Speaker 1: JP Morgan is the biggest American bank, and in a
Speaker 1: statement it said it is currently engaging in limited activities.
Speaker 1: Goldman was the first of the major Wall Street banks
Speaker 1: to announce its intention to exit Russia, saying it is
Speaker 1: winding down business there. The finance industry titans are joining
Speaker 1: those in other sectors, including McDonald's and Coca Cola, that
Speaker 1: have already said they will halt business operations in the
Speaker 1: nation as the death toll rises in Ukraine and millions
Speaker 1: of refugees fleet in New York. Charlie Pellett Bloomberg Daybreak,
Speaker 1: All right, Charlie, thanks in the war in Ukraine now
Speaker 1: has Wall Street cutting its forecasts for US economic growth.
Speaker 1: Let's get that story live from Bloomberg's John Tucker, John Nathan.
Speaker 1: There's more than one in three chance the US will
Speaker 1: fall into recession, according to the economist at Goldben Sachs.
Speaker 1: The down grade it comes as US consumer prices or
Speaker 1: to a fresh forty year high on rising gasoline, food
Speaker 1: and housing costs, and inflations poised to rise even further
Speaker 1: following Russia's invasion of Ukraine. Earlier this week, fed share
Speaker 1: Jerome Palell reaffirmed plans to raise the interest rates this
Speaker 1: month and commence a series of hikes to curb high prices.
Speaker 1: The International Monetary Fund also expected to cut its forecast
Speaker 1: for global growth this year. Live in New York on
Speaker 1: John Tucker Bloomberg Daybreak, All right, John, thank you, Let's
Speaker 1: turn to China now or GDP figures are also in focus.
Speaker 1: Premier le Ka cheng amits it won't be easy to
Speaker 1: hit the country's growth target this year, and Bloombery Daybreak
Speaker 1: Asia anchor Bryan Curtis has more the growth rate was
Speaker 1: set at about five and a half percent this year.
Speaker 1: The comments of difficulty reaching dot will likely stoke expectations
Speaker 1: that more support is on the way, and Lee did
Speaker 1: say that government spending will be beefed up. He spoke
Speaker 1: at the end of the annual NPC meetings and said
Speaker 1: that China can cope with the challenges. He said tax
Speaker 1: breaks for companies will be like getting oxygen two mountain
Speaker 1: climbers on Ukraine. The Premier set China supports the cease
Speaker 1: fire on Hong Kong. China supports the delay in elections
Speaker 1: to combat the virus. Brian Curtis Bloomberg Daybreak and Brian
Speaker 1: thanks Lekacheng is also announcing an end to his time
Speaker 1: as Chinese Premier. Li says he will step down from
Speaker 1: his post after this year, pointing to a coming reshuffle
Speaker 1: in the presidency of Shi jin Ping and Nathan. Turning
Speaker 1: to the markets, now, let's take a look at some
Speaker 1: stocks on the move this morning. Shares A Docusigner down
Speaker 1: eighteen percent and early trading, the electronic signature company forecast
Speaker 1: first quarter revenue below estimate. Shares A det Global Or
Speaker 1: down twenty Sources say the right hailing company haunted A
Speaker 1: planned a listed shares in Hong Kong after failing to
Speaker 1: appease regulator demands about user data and shares A Rivy
Speaker 1: and Automotive down eleven and a half percent. The electric
Speaker 1: pickup maker says plans to accelerate production are being hit
Speaker 1: by overstretched supply chains. And finally, Karen. It was two
Speaker 1: years ago today that the World Health Organization labeled the
Speaker 1: COVID nineteen outbreak up pandemic. Now a new study says
Speaker 1: the global death toll could be eighteen point two million,
Speaker 1: three times higher than official records suggest to study from
Speaker 1: the University of Washington points to a lack of testing
Speaker 1: and unreliable data to explain the discrepancy. Futures moving higher.
Speaker 1: Right now, straight ahead, your latest local headlines and a
Speaker 1: check of sports. This is Bloomberg. It's not five oh
Speaker 1: seven on Wall Street. We're forty degrees in Central Park.
Speaker 1: We gotta crash on westbound Route eighty. It's near Exit
Speaker 1: fifty eight. Details coming up in traffic. First, Michael Barr
Speaker 1: is here with more on what's going on in New
Speaker 1: York and around the world. Good Friday morning, Michael, Good
Speaker 1: morning to you, Nathan. After two years of the pandemic
Speaker 1: battering New York City, Mayor Eric Adams is open to
Speaker 1: steer the city toward an economic revival by learning tourists
Speaker 1: back and beautifying the streets. You could fill the energy.
Speaker 1: Someone called me this morning and it said Eric. I
Speaker 1: was at the Ferry. It was crowded. This is the
Speaker 1: first week where I had to wait on an elevata
Speaker 1: because it was so full. You know. The Democratic mayor
Speaker 1: unveiled an economic development plan that he said would usher
Speaker 1: in a new New York. The recovery is not going
Speaker 1: to be about getting back to it always. It's going
Speaker 1: to get back to the new ways of doing things,
Speaker 1: and we're going to take this opportunity to reboot our
Speaker 1: entire system and make changes that are going to include
Speaker 1: equity and inclusive inclusiveness. Mayor Adam's plan calls for helping
Speaker 1: small businesses and cultivating specific industries, including pharmaceuticals, manufacturing, and
Speaker 1: the legal pot industry. People in New Jersey are saying
Speaker 1: new Way to lawmakers attempts to allow self service gasoline.
Speaker 1: The Rutgers Eagleton Pole found that seventy three percent of
Speaker 1: residents prefer to have an attendant do it for them.
Speaker 1: Among women, it's t shirts and magnets have sprung up
Speaker 1: saying Jersey girls don't pump gas. It looks like North
Speaker 1: Korea tested the new missile system. U S Intelligence has
Speaker 1: now assessed that to ballistic missile tests carried out late
Speaker 1: last month and last week involved a relatively new intercontinental
Speaker 1: ballistic missile system North Korea is developing. A senior Administration
Speaker 1: official is calling it a serious escalation by North Korea
Speaker 1: and serious violations of U N Security Council rules. Jesse
Speaker 1: small Lett has been sentenced to one hundred fifty days
Speaker 1: in jail for lying to police in a racist and
Speaker 1: homophobic attack that he staged himself. Cook County Judge James
Speaker 1: Lynn tore into the disgraced actor. He took some scamps off,
Speaker 1: some healy wounds, and you've ripped him apart for one reason.
Speaker 1: You want to make yourself more famous, and for a
Speaker 1: while it worked. Judge Lynn also sentenced small Let to
Speaker 1: pay back a hundred twenty dollars to the City of Chicago.
Speaker 1: And the actor who played Louise on TV Sesame Street
Speaker 1: has died. Emilio Delgado died at the age of eighty
Speaker 1: one from blood cancer. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Tank, powered by
Speaker 1: more than twenty seven hundred journalists analyst for more than
Speaker 1: a hundred twenty countries. I'm Michael Barr. This is Bloomberg.
Speaker 1: Thanks Michael. Come up to five ten on Wall Street.
Speaker 1: Time for the Bloomberg Sports Update. Spring is here, John Stash,
Speaker 1: lay Ball, and Nathan Technically. The baseball lockout lasted nine days,
Speaker 1: but all in the off season, though twice MLB announced
Speaker 1: cancellations of games. They'll end up playing all one hundred
Speaker 1: and sixty two, so and nobody lost the paycheck. Players
Speaker 1: expecting to start showing up for spring training today, mandatory
Speaker 1: by Sunday, exhibition games next weekend and opening day April seventh.
Speaker 1: It's expected the Yankees will open at home against the
Speaker 1: Red Sox with the Mets in Washington. They compromised on
Speaker 1: some economic issues. The minimum salary was raised, the playoffs
Speaker 1: expanded to twelve teams. National League will start using the
Speaker 1: d H. Other rule changes could be coming next year.
Speaker 1: Commissioner Rob Manford was asked why when it seemed like
Speaker 1: the lockout might end, it didn't, and then when it
Speaker 1: looked like it wouldn't it did. Booking back at it,
Speaker 1: I think we used deadlines effectively to move the process
Speaker 1: points in time when it needed to move, and you
Speaker 1: know who out flanked two. My view is there's only
Speaker 1: one win, and that's getting an agreement, and we got one.
Speaker 1: Infan says he hopes to have a better relationship with players.
Speaker 1: Going fuller nets some sixers in Philly first time since
Speaker 1: the big trade. It was all Brooklyn d Kevin Duran
Speaker 1: twenty five points, and Seth Curry, who was part of
Speaker 1: the trade at twenty four. James hard New engineered the
Speaker 1: Nets trading in to Philly. Struggled mightily against this whole team.
Speaker 1: Shot three of seventeen Rangers who lost the other night
Speaker 1: five to two, lost six to in St. Louis, All
Speaker 1: Islanders six nothing over Columbus, the hatrick for andrews Lee.
Speaker 1: Devils lost to Winnipeg to one. Big East Turney St.
Speaker 1: John's was going for a major upset blew a big
Speaker 1: League lost to Villanova by one. Seaton Hall lost to
Speaker 1: you kind of went for Fordham to advance at the
Speaker 1: Atlantic ten John stash Ally Bloomberg Stage, Nathan Okay, John,
Speaker 1: thank you, SMP futures up twenty points now, futures up
Speaker 1: a hundred thirty three futures are hired by seventy four points.
Speaker 1: Send your treasury little change with the yield one point
Speaker 1: nine eight percent. You're listening to Bloomberg Daybreak Bloomberg eleven
Speaker 1: three oh Weather partly Sunday today, low fifties, rainy, windy Tomorrow,
Speaker 1: could mix with some wet snow before ending early afternoon.
Speaker 1: Early highs in the upper forties. By Sunday will be
Speaker 1: in the upper thirties right now, forty degrees, markets, headlines
Speaker 1: and breaking news twenty four hours a day at Bloomberg
Speaker 1: dot Com, The Bloomberg Business and at Bloomberg Quicktake. This
Speaker 1: is a Bloomberg Business Flash and I'm Karen Moscow. Raging
Speaker 1: volatility continues to whip song global markets, capping the final
Speaker 1: week before a new US rate cycle, and or in
Speaker 1: is worsening. War in Ukraine boost inflation and threatens to
Speaker 1: sink global growth. We checked the markets every fifteen minutes
Speaker 1: throughout the trading day. Bloomberg s and P futures are
Speaker 1: up down futures five Nowaday futures up seventy one. The
Speaker 1: day in Germany is up wanted a third percent. The
Speaker 1: ten year treasury little change at one point nine eight percent,
Speaker 1: and the yield on the two year one point seven
Speaker 1: one percent. Nine x Scrude oil is up two point
Speaker 1: three percent, up two dollars forty eight cents at a
Speaker 1: hundred eight dollars fifty cents A barrel. Comic school is
Speaker 1: down to tens per cent, or four dollars ten cents
Speaker 1: at nineteen ninety six ten announce. The euro is at
Speaker 1: one point o nine seven four against the dollar. British
Speaker 1: found one point three zero seven four and again is
Speaker 1: at one sixteen point nine to bitcoin. This morning, it
Speaker 1: is moving lower down about sixtensive upper cent at thirty
Speaker 1: nine thousand, one hundred dollars. That's a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Unchael, good morning, Good morning, Karen. Russian
Speaker 1: strikes have hit near airports in western Ukraine as the
Speaker 1: military offensive whitened and invading troops kept up pressure on
Speaker 1: the capitol Kiev and the besieged ports city of Mariupol. Meanwhile,
Speaker 1: the Senate has given final congressional approval to a thirteen
Speaker 1: point six billion dollar emergency package of milled Jerry and
Speaker 1: you managed erryan aide for besieged Ukraine and its European allies.
Speaker 1: Major League Baseball reached new labor agreements with its players union,
Speaker 1: and in a three month lockout, it paved the way
Speaker 1: for the season to start next month. In the NBA,
Speaker 1: the Nets and Warriors one. In the NHL, the Rangers
Speaker 1: and Devils lost, The Islanders and Bruins won. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: in more than a hundred twenty countries. I'm Michael bar
Speaker 1: This is Bloomberg, Nathan. Thanks Michael, five nineteen on Wall
Speaker 1: Street Life from the Bloomberg Interactive Broker Studios. This is
Speaker 1: Bloomberg Daybreak and Julie Norman is with us this morning,
Speaker 1: professor and lecturer on Politics and International Relations at University
Speaker 1: College London. With Russia's war in Ukraine now in today
Speaker 1: sixteen professor, Good morning. As Michael mentioned, the fighting has
Speaker 1: spread out to cities in western Ukraine that had been
Speaker 1: far from where the fighting had been up to now.
Speaker 1: And we're also getting reports that President Putin is saying
Speaker 1: that he's bringing in Middle Eastern volunteer fighters and fighters
Speaker 1: from other countries to get involved. What does this tell
Speaker 1: you about where this war is going from here? Well,
Speaker 1: good morning, Nathan, and yes, we have seen a different
Speaker 1: kind of expansion over the last day or two, as
Speaker 1: you mentioned, expanding the offensive to new cities that had
Speaker 1: not previously been targeted. And this is of course just
Speaker 1: increasing the cost and the toll on civilians quite directly,
Speaker 1: it's also increasing the number of people who have been
Speaker 1: displaced already over two million, and now that will increase
Speaker 1: in these new areas. And there's also kind of the
Speaker 1: the ongoing slow burn effect of all these things, to
Speaker 1: the sense that these cities are increasingly being cut off
Speaker 1: from heat, from water, from electricity, from food imports, and
Speaker 1: so the humanitarian conditions in these cities where the offensive
Speaker 1: is extending to just becomes more and more dire as well.
Speaker 1: We did hear also this week that Prutin has been
Speaker 1: trying to recruit some volunteers from Syria, which is where
Speaker 1: a Rush of course is very involved in the Syrian
Speaker 1: Civil War, and seems to be trying to play on
Speaker 1: that that kind of relationship there. I haven't heard exactly
Speaker 1: how many are actually taking him up on that offer,
Speaker 1: but there do seem to be those kinds of overtures
Speaker 1: happening in terms of where it all goes. Again, this
Speaker 1: is something that we've all been trying to um to
Speaker 1: ascertain since the beginning. Um Again, I think as the
Speaker 1: squeeze on humanitarian populations continues, uh, and as the squeeze
Speaker 1: on Russian continues with sanctions, you know, the hope is
Speaker 1: obviously there will be a bit more nudge towards negotiations
Speaker 1: and there are some tangible things to actually discuss in
Speaker 1: terms of territory, in terms of proposed neutrality, but I
Speaker 1: don't think either side is quite at that point yet.
Speaker 1: When you think about the war in Syria and the
Speaker 1: idea of fighters coming in from there, we all remember
Speaker 1: the atrocities that have taken place over this more than
Speaker 1: decade long war in Syria. And now the Russians are
Speaker 1: pointing out these sort of disputed reports about US and
Speaker 1: urine Ukrainian biochemical weapons development. It's ray see a lot
Speaker 1: of concern, isn't it that that could be some kind
Speaker 1: of false flag for Russia perhaps mirror some of the
Speaker 1: same tactics that have taken place in Syria when it
Speaker 1: comes to banned weapons. Absolutely, and we see the Biden
Speaker 1: administration and allies trying to get out ahead of this,
Speaker 1: as they have with previous UH intelligence that they had
Speaker 1: leading up to the current invasion, where they had a
Speaker 1: sense that Russia was trying to use misinformation about Ukrainian
Speaker 1: development of something, in this case chemical weapons that might
Speaker 1: actually indicate something Russia itself is planning to do. UM Again,
Speaker 1: none of that is confirmed yet, but it is certainly
Speaker 1: UM considered a very possible threat. And again this is
Speaker 1: something that you know, we've seen Russia take very um
Speaker 1: costly actions against civilians, not only in this crisis, but
Speaker 1: as you mentioned in Syria, also in Technia in the
Speaker 1: past when gros and umensities like Aleppo were you just
Speaker 1: had very massive civilian casualties, not only through chemical weapons,
Speaker 1: but more over just through conventional weapons and the use
Speaker 1: of areads in particular, which we haven't seen extensively yet
Speaker 1: in Ukraine, but could certainly ramp up if if Russia
Speaker 1: decides to play that card. The White House, as President
Speaker 1: Biden is going to make an announcement of further action
Speaker 1: against Russia this morning. Bloomberg News is reporting he's going
Speaker 1: to call for an end to Russia's preferred normal trade relations.
Speaker 1: Do you see that making any difference? So Biden has
Speaker 1: been in conversation with European allies about this move. So
Speaker 1: this call is supposed to come today, most likely in
Speaker 1: concert with the EU and the G seven. For the US,
Speaker 1: it will allow the US to obviously put more tariffs
Speaker 1: on Russian goods that's only about twenty billion dollars. Only
Speaker 1: about five percent of Russian exports come to the US.
Speaker 1: But about a third of Russian exports go to the EU,
Speaker 1: So if the EU and the G seven make this
Speaker 1: move in concert, that's more where we'll have the effect
Speaker 1: then with the US, But for the U S it's
Speaker 1: an important political movement the less only about thirty seconds
Speaker 1: left here, Professors, there a risk that public support for
Speaker 1: pressure on Ukraine changes if the economic pain gets worse
Speaker 1: for a mayor, Arikans and Europeans. Well, obviously that's been
Speaker 1: a threat since the beginning. But so far, Nathan, we've
Speaker 1: seen just unprecedented solidarity from UH people around the world,
Speaker 1: but also from the private sector around the world and
Speaker 1: really kind of pushing back at this aggression from Russia. UM.
Speaker 1: With that said, you know, we've seen the numbers coming
Speaker 1: out this week in the US, highest inflation in decades
Speaker 1: and just keeps getting higher. So I do think that
Speaker 1: will affect people's perceptions, but I think anyone paying attention
Speaker 1: knows that the inflation issues started before the war. It's
Speaker 1: been exacerbated by it, but there's a lot of other
Speaker 1: factors going into that as well. Thank you as always, Professor,
Speaker 1: good having you on with us this morning. Julie Norman,
Speaker 1: Professor and lecture on Politics and International Relations at University
Speaker 1: College London. Future is moving higher at the moment. SMP
Speaker 1: futures up twenty points, staff futures up a hundred thirty four,
Speaker 1: nasty futures higher by sixty eight points. In the tenure
Speaker 1: treasury right now little chains yield one point nine eight percent.
Speaker 1: Just ahead. More Ukraine aid coming in a massive government
Speaker 1: funding bill, and the or leads to more growth downgrades
Speaker 1: in the US. This is Bloomberg Bloomberg eleven three oh
Speaker 1: weather partly sunny, low fifties today, rainy, windy tomorrow. The
Speaker 1: rain may wicks with what snow. Early highs in the
Speaker 1: upper forties with temperatures falling through the afternoon. We'll only
Speaker 1: get to upper thirties by Sunday. Right now forty degrees
Speaker 1: broadcasting live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg E Loving Freedom to Washington, d C, Bloomberg On
Speaker 1: to Boston, Bloomberg one O six one does San Francisco,
Speaker 1: Bloomberg sixty to the country, Sirius XM to the one
Speaker 1: nine and around the globe, the Bloomberg Business app and
Speaker 1: Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five
Speaker 1: thirty on Wall Street. Good morning. I'm Nathan Hagar and
Speaker 1: I'm Karen Moscow. We are just about four hours away
Speaker 1: from the open of US trading. Let's get you have
Speaker 1: to date on the news you need to know at
Speaker 1: this hour. Beginning with day sixteen of the war in Ukraine,
Speaker 1: sirens heard again in a capital, Kiev. The mayor of
Speaker 1: the city says almost half of its citizens have fled
Speaker 1: since Russia's invasion began. Cities in western Ukraine are now
Speaker 1: under attack to taking fire from a long distance strikes.
Speaker 1: In the south, the city of Mariopol remains under siege.
Speaker 1: The death toll there has reportedly passed thirteen hundred. Meantime,
Speaker 1: back in d C, Karen, President Biden is set to
Speaker 1: call for an end to normal trade relations with Russia.
Speaker 1: Sources say the plans would allow for increased tariffs on
Speaker 1: Russian imports, putting Moscow on par with Cuba and North Korea. Well.
Speaker 1: At the same time, Nathan, the Senate has passed a
Speaker 1: spending bill that includes security and humanitarian aid for Ukraine,
Speaker 1: and we get the details live with the Bloomberg's Ranida Young.
Speaker 1: Good morning, Ranida Good morning, Karen. Just over thirteen billion
Speaker 1: dollars of that package goes to Ukraine for humanitarian and
Speaker 1: security aid. For Democrats, passing this bill in an era
Speaker 1: of hyper partisanship is a major achievement. The government had
Speaker 1: been using Trump era program funding level since the start
Speaker 1: of the fiscal year on October one, and now domestic
Speaker 1: agencies will get a nearly seven percent boost. The spending
Speaker 1: bill now goes to President Biden's desk for his signature
Speaker 1: in New York. I'm Rania Young Bloomberg Daybreak, Okay, Ranina,
Speaker 1: thank you. On Wall Street today, the war in Ukraine
Speaker 1: has one firm cutting its forecast for US growth. Let's
Speaker 1: get that storyline from Bloomberg's John Tucker. John Nathan Goldban
Speaker 1: Sacks warns there is a more than one in three
Speaker 1: chance the US will slip into recession in the next year.
Speaker 1: The firm is cutting growth forecast because of the hip
Speaker 1: from rising oil prices and other impacts from Russia's war.
Speaker 1: The revision comes the US prices for everything from gas
Speaker 1: to food and housing jump to a forty year high,
Speaker 1: and that's even before Russia's invasion. For this year of
Speaker 1: the firm products GDP will slow to one point seven
Speaker 1: Live in New York. I'm John Tucker Bloomberg Daybreak. All right, John,
Speaker 1: thank you. Meantime, the corporate exodus from Russia continues. JP
Speaker 1: Morgan is joining Goldman Saxon winding down operations there. City
Speaker 1: Group has yet to act, but says it's also assessing
Speaker 1: operations in Russia. Futures this morning are on the rise.
Speaker 1: SNP futures up twenty three points now futures up a
Speaker 1: hundred forty seven, NASDAG futures up eighty two. The tenure
Speaker 1: treasury little change at one point nine eight percent, and
Speaker 1: the yield on the two year one point seven zero percent.
Speaker 1: NIMEX scrude oil is up two point seven percent, up
Speaker 1: two dollars eighty six cents and a hundred eight dollars
Speaker 1: eighty eight cents of barrel. Straight to hand your latest
Speaker 1: local headlines plus a check of sports. And this is
Speaker 1: Bloomberge on Wall Street, forty degrees in Central Park, jammed
Speaker 1: up on westbound l I E with a crash. Youan
Speaker 1: Maurice Avenue. Michael Barr has more on what's going on
Speaker 1: in New York and around the world. Michael, thank you
Speaker 1: very much. Nathan. New York Mayor Eric Adams unveiled as
Speaker 1: economic development plan for the city. Adam says it would
Speaker 1: us you're in a New New York. During his news conference,
Speaker 1: the mayor saluted the truck drivers who delivered goods the
Speaker 1: stores in the city, calling them essential workers. You know
Speaker 1: onions are not in your stores because someone texts them
Speaker 1: over there, your stores because those trucks delivered them here.
Speaker 1: Mayor Eric Adams is hoping to steer his city toward
Speaker 1: an economic revival by lurning tourists back, beautifying the streets,
Speaker 1: and embracing New York's looming legal pot industry. The Biden
Speaker 1: administration says to North Korean missile launches in recent weeks
Speaker 1: were in fact, test firings of a new long range
Speaker 1: I c b M. The tests were of a missile
Speaker 1: reportedly larger than an I C b M North Korea
Speaker 1: launched in twenty seventeen that was assessed to be capable
Speaker 1: of reaching the US. The administration warned that a full
Speaker 1: range test could soon follow. Actor Jesse small Head has
Speaker 1: been sentenced to a hundred fifty days in jail for
Speaker 1: hate crime hoax in twenty nineteen. The former Empire Star
Speaker 1: will have to pay back a hundred twenty grand to
Speaker 1: the City of Chicago. Cook County Judge James Lynn I
Speaker 1: acknowledged there are wonderful sides to you that they're very
Speaker 1: giving and charitable and loving sides to you, But you
Speaker 1: have another side of you that is profoundly arrogant and selful,
Speaker 1: selfish and narcissistic. Judge Lynn also sent in small probation
Speaker 1: for thirty months. The latest census undercounted Black, Latino and
Speaker 1: Native Americans at higher rates than a decade ago, potentially
Speaker 1: depriving those communities of financial resources and political representation. That's
Speaker 1: according to new data released by the U. S Census Bureau.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven
Speaker 1: hundred journalist and analysts in more than a hundred twenty countries.
Speaker 1: I'm Michael Barr. This is Bloomberg, Nathan. Thanks Michael on
Speaker 1: Wall Street time for the Bloomberg Sports Update with John
Speaker 1: stash Our. Thanks. They can get out the key unlocked
Speaker 1: the gates the baseball stadiums. There were a couple of
Speaker 1: times lately when it looked like the lockout would end,
Speaker 1: and it didn't, and then when it looked like it
Speaker 1: wasn't going to end, it did. New five of your
Speaker 1: agreement ratified unanimously by the owners. The player reps have
Speaker 1: proved that to four, though the eighth member union committee
Speaker 1: was all against it. COMMITSI rod manfred was asked his
Speaker 1: message to fan looking back at it, I think we
Speaker 1: used deadlines effectively to move the process at points in
Speaker 1: time when it needed to move, and you know who
Speaker 1: out flanked two. My view is there's only one win,
Speaker 1: and that's getting an agreement, and we got one. Opening
Speaker 1: day now April seven, they'll play all one hundred and
Speaker 1: sixty two games, and then the playoffs will expanded to
Speaker 1: twelve teams and now begins the race to sign unsigned
Speaker 1: free agents. There are some good ones out there, like
Speaker 1: Carlos Corea, Freddie Freeman, and Chris Bryant. James Harden, wanted
Speaker 1: out of Brooklyn, got traded to Philadelphia, faced his old
Speaker 1: team and shot three of seventeen nets, blew out the
Speaker 1: Sixers one to one hundred. Kevin ran twenty five points.
Speaker 1: Step Curry, who was part of the trade, had twenty
Speaker 1: four knicks. Are in Memphis tonight Cam Reddish, who the
Speaker 1: Knicks acquired in January. We'll miss the rest of the
Speaker 1: season with a separated shoulder. In St. Louis Us, the
Speaker 1: Blues three goals of the first period, three more in
Speaker 1: the second. They beat the Rangers six to two. Devils
Speaker 1: lost to Winnipeg two to one. Islanders all over Columbus
Speaker 1: sixth and nothing, the hat trick for andrews Lee at
Speaker 1: the Garden, heartbreak for St. John's questionable foul call with
Speaker 1: two seconds left. Villanova made the two free throws and
Speaker 1: pulled it out sixty six six five. Also the Big
Speaker 1: East Seaton Hall lost at Yukon Fordham one to advance
Speaker 1: at the Atlantic ten. Turning John Staward Bloomberg Sport. Thanks John.
Speaker 1: We're coming up to five thirty seven on Wall Street
Speaker 1: time for the Trice State Business Report with Bloomberg z Cory.
Speaker 1: New York City Mayor Eric Adams wants to suspend a
Speaker 1: surcharge on liquor licenses. It's an effort to help restaurants
Speaker 1: and barns that are still struggling after the pandemic to
Speaker 1: host the World Soccer Championship, part of an economic recovery plan.
Speaker 1: Adams unveiled Thursday, I made a nationwide wave of inflation.
Speaker 1: Prices in New York City are rising at the slowest
Speaker 1: rate of any US metro area. They went up five
Speaker 1: priest stand in February from a year earlier, compared with
Speaker 1: the decades high seven point nine percent jump nationwide, according
Speaker 1: to the Bureau of Labor Statistics. For Princeton alumni are
Speaker 1: donating twenty million dollars to the school. They attended the
Speaker 1: Ivy League University in the nineteen eighties and went on
Speaker 1: to become some of the highest profile individuals in the
Speaker 1: cryptocurrency world. The money will fund a research initiative to
Speaker 1: better understand blockchain and the technology behind cryptocurrencies. At your
Speaker 1: Bloomberg Try State Business Report, I'm Ed Corey. Thanks Ed.
Speaker 1: Coming up to five thirty eight on Wall Street. Bloomberg
Speaker 1: Radio is on the air from San Francisco to New York,
Speaker 1: London to Hong Kong. Let's check in with our global
Speaker 1: news team for some of the top stories heard on
Speaker 1: our three hundred affiliate radio stations around the world. I'm
Speaker 1: Steve Podascan on k X in Los Angeles. We're talking
Speaker 1: about for testing its electric truck as a possible power
Speaker 1: source for the home Unho on tt r H in Houston.
Speaker 1: Thieves are scaling catalytic converters in ever greater numbers, sending
Speaker 1: insurance claims stories. I'm genus Toby and for Double D
Speaker 1: B B M in Chicago. I'm reporting that the electric
Speaker 1: pickup maker Ribbian says it's plans to ramp up production
Speaker 1: are being squeezed by parts of shortages. I'm Ade Dory
Speaker 1: on w w J in Detroit. I'm reporting Ford and
Speaker 1: P g and E has the use of an electric
Speaker 1: trunk of our homes during blackouts. Those are some of
Speaker 1: the stories are Bloomberg journalists and analysts are working on
Speaker 1: this morning around the world. It's coming up to five
Speaker 1: thirty nine on Wall Street. The following is an editorial
Speaker 1: from Bloomberg Opinion. The European refugee crises of two have
Speaker 1: at least one thing in common. Vladimir Putin played a
Speaker 1: big part in causing the former by bombing Syria, and
Speaker 1: he is solely responsible for the latter with his attack
Speaker 1: against Ukraine. But the two humanitarian calamities are very different,
Speaker 1: and therein lies an opportunity for the European Union in
Speaker 1: the EU was divided. To the west, member states led
Speaker 1: by Germany, tried to find an orderly but humane way
Speaker 1: of treating the asylum seek while strengthening Europe's refugee system.
Speaker 1: To the east, member states led by Hungary and Poland,
Speaker 1: closed their doors before the arriving refugees. The situation could
Speaker 1: not be more different this time. More than two million
Speaker 1: Ukrainians have already arrived in the EU, and yet the
Speaker 1: reception offered to them so far has been uniformly compassionate.
Speaker 1: Whatever may divide Europeans, much more unites them, and it
Speaker 1: could extend to the creation of a military union, a
Speaker 1: European army to stare down hand in hand with NATO
Speaker 1: the likes of Vladimir Putin, The block's divisions suddenly look
Speaker 1: small enough to overcome. With luck. Europeans will recognize this
Speaker 1: historic moment and seize it. This editorial was written by
Speaker 1: the Bloomberg Opinion editorial Board. I'm David Chipley. For more
Speaker 1: Bloomberg Opinion, please go to Bloomberg dot com, slash opinion
Speaker 1: or OPA and go on the Bloomberg terminal. These has
Speaker 1: been Bloomberg opinion and you can hear Bloomberg Opinion editorials
Speaker 1: every weekday. At this time, terminal customers can read more
Speaker 1: at O P I n GO. SMP future is now
Speaker 1: up nineteen points, staff features up a hundred nineteen Nastack
Speaker 1: futures higher by seventy three points, and Treasury starting to
Speaker 1: catch a bid this morning. The tenure Treasury is now
Speaker 1: up to thirty seconds with the yield one nine seven percent.
Speaker 1: Patrick Armstrong of Klaimi Wealth joins us next on the
Speaker 1: volatility in this market. This is Bloomberg Bloomberg eleven three
Speaker 1: oh Weather partly sunny at low fifties today, rainy, wendy,
Speaker 1: maybe some wet snow tomorrow, early highs in the upper forties,
Speaker 1: of temperatures falling through the afternoon. Sunny, breezy Sunday, upper
Speaker 1: thirties right now forty degrees. Markets headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot Com, the
Speaker 1: Bloomberg Business at and at Bloomberg Quick Tape. He's a
Speaker 1: Bloomberg Business lash and I'm Karen moscow Enraging volatility as
Speaker 1: whips on global markets, capping the final week before I
Speaker 1: knew US rate high cycle as a worsening war in Ukraine,
Speaker 1: boost inflation and threatens to sink global growth. We check
Speaker 1: the markets every fifteen minutes throughout the trading day on
Speaker 1: bloomberg S and P Future is up about eighteen points now,
Speaker 1: Futures up a hundred ten nas day Future is up
Speaker 1: sixty five. The decks in Germany's up one and a
Speaker 1: quarter percent. The ten year treasury of one thirty second,
Speaker 1: the yield one point nine eight percent, the yield on
Speaker 1: the two year one point seven zero percent. Nine X
Speaker 1: screwed oil is up three and a third percent of
Speaker 1: three dollars fifty nine cents at a hundred nine dollars
Speaker 1: sixty one cents of barrel and comex school is down
Speaker 1: to ten percent or three dollars sixty cents at nineteen
Speaker 1: and ninety six eighty announced. The euro one point oh
Speaker 1: nine eight one against the dollar, British found one point
Speaker 1: three zero eight five, the ends at one sixteen point
Speaker 1: eight six, and Bitcoin this morning moving lower at thirty
Speaker 1: nine thousand dollars. It's down about eight tens of a percent,
Speaker 1: and that's a Bloomberg business flash. Now here's Michael Barrow
Speaker 1: with Moore on what's going on around the world. Michael,
Speaker 1: thank you very much. Karen and Russian strikes have hit
Speaker 1: near airports in western Ukraine. Comes as the mayor of
Speaker 1: Kiev says that almost half the capitol citizens f led
Speaker 1: since Russia began attacking the city. Meanwhile, President Joan Bot
Speaker 1: Joe Biden plans to announce that, along with the European
Speaker 1: Union and the Group of Seven Countries, the US will
Speaker 1: move to revoke Most Favored Nation trade status for Russia
Speaker 1: over its invasion of Ukraine. Major League Baseball reached a
Speaker 1: new labor agreement with its players union and in a
Speaker 1: three month lockout, it paves the way for the season
Speaker 1: to start next month. In the NBA, the Nets and
Speaker 1: Warriors one. In the NHL, the Rangers and Devil's Lost,
Speaker 1: the Islanders and Bruins one. Global news twenty four hours
Speaker 1: a day on here and on Bloomberg quick Take, powered
Speaker 1: by more than twenty seven hundred journalists and analysts in
Speaker 1: more than one d twenty countries. And Michael Bard. This
Speaker 1: is Bloomberg, Nathan, Thanks Michael. It's five forty nine on
Speaker 1: Wall Street Life from the Bloomberg Interactive Brokers Studios. This
Speaker 1: is Bloomberg day Break. We're really pleased to be joined
Speaker 1: now by Patrick Armstrong, chief investment officer at Plurimi Wealth,
Speaker 1: to try to ex sense of what has been a
Speaker 1: very wild week for markets. Patrick, good morning, with a
Speaker 1: war on and inflation in the front burner. Now, how
Speaker 1: much more volatility should we be expecting? There's going to
Speaker 1: be a lot of volatility um the environment we're in.
Speaker 1: It's not a short term environment. I think we're in,
Speaker 1: probably for years to come, a stagflationary environment where the
Speaker 1: pendulum has swung from globalization outsourcing manufacturing to where things
Speaker 1: could be done cheaper, to a protectionist environment where there's
Speaker 1: sanctions and trade wars and real wars unfortunately, So you've
Speaker 1: got that as one part of the backdrop, and you've
Speaker 1: got a FED who's going to be hiking and withdrawing liquidity.
Speaker 1: So that's the perfect recipe for volatility. Do you have
Speaker 1: the S word there? How long do you think this
Speaker 1: stagflation could last? I think it's ahead of us for years.
Speaker 1: So it doesn't mean recessionary inflation, but it means growth.
Speaker 1: It's waning with very sticky inflation, and in the short
Speaker 1: term inflation is going to be moving higher and not lower.
Speaker 1: Probably the most similar environment that we're going to be
Speaker 1: facing in the coming years. It's similar to what we
Speaker 1: were coming out of nineteen seventy two going into nineteen
Speaker 1: seventy three with the oil prices in the United States.
Speaker 1: So the world just getting past the Vietnam War and
Speaker 1: then the Iran Revolution led to supply disruption on oil.
Speaker 1: Higher prices, lower growth, and the fact that felt they
Speaker 1: had to fight to hike despite this slowing growth. Of course,
Speaker 1: Goldman Sachs is getting a lot of attention this morning
Speaker 1: for coming out with a call that there's a one
Speaker 1: in three chance of recession in the US into next year.
Speaker 1: Is that a good calm? Is that the way you
Speaker 1: see it's I'd see a little bit less in the
Speaker 1: United States. I'd say Europe is probably going to go
Speaker 1: into a recession in the next year just because of
Speaker 1: utility bills, energy prices. Gas prices matter more to Europe,
Speaker 1: and the commodity prices are just higher in Europe. You've
Speaker 1: got cheaper natural gas in America. UM. US, I don't
Speaker 1: think we'll fall into a recession, but it's definitely something
Speaker 1: you should be aware of. You shouldn't be investing thinking
Speaker 1: it's a blue sky. Um. There are recessionary headwinds, recession.
Speaker 1: Recession is a possibility, and I think one of three
Speaker 1: is a little higher for the US, but that's probably
Speaker 1: too low for Europe on the point of the US
Speaker 1: or the U S economy being different from Europe's. Obviously,
Speaker 1: the ECB is taking away support a lot more quickly
Speaker 1: than a lot of analysts and investors had expected. Is
Speaker 1: that something that could move the FED? Do you think?
Speaker 1: I don't think so. I think it's an e CB
Speaker 1: reacting to the FED, and even though it is a
Speaker 1: little bit more hawkish and we expected, it's still a
Speaker 1: relative loosening if you have a FED doing what the
Speaker 1: markets indicating. So I don't think the FED will be
Speaker 1: hiking as much as this the market is indicating. But
Speaker 1: they're definitely on a hiking cycle now and the bomb
Speaker 1: buying from the FED is done so despite a lower
Speaker 1: growth backdrop, I don't see many scenarios where we've got
Speaker 1: two percent tenure yields by the end of the year.
Speaker 1: I think we'll have a tenure yield rising despite the
Speaker 1: lower growth profile. Well, how much more hiking are you
Speaker 1: expecting from the FED? What's your call in terms of
Speaker 1: the rate high picture this year? I think there'll be
Speaker 1: four hikes this year, which is just the FEDS making
Speaker 1: sure the world knows they're not asleep at the wheel,
Speaker 1: that they're addressing the inflation that's clearly there, but they're
Speaker 1: also aware of the geopolitical risks and aware of the
Speaker 1: impact on higher gas prices has on the kount of
Speaker 1: the economy. So higher gas prices create the inflation that
Speaker 1: the Fed don't like, but that's also part of the
Speaker 1: tightening as well that it disrupts some of demand from
Speaker 1: consumers as well. It's in our last thirty seconds here,
Speaker 1: with all this in the backdrop, where do you put
Speaker 1: your money? What are you advising your clients right now?
Speaker 1: You should be investing in things if you're one of
Speaker 1: the for equities, own companies that don't access that are
Speaker 1: in short supply. What we've been buying recently is aggy
Speaker 1: business equities. We think potash, um, fertilizer, even tractors, John Deer.
Speaker 1: Those farmers are going to need to be giving a
Speaker 1: lot of cash. Sow for the crops is basically Ukrainian
Speaker 1: and rush and supply of wheech is going to be disrupted. Um.
Speaker 1: I think you want to own commodities and you want
Speaker 1: to be short the long duration equities, which are those
Speaker 1: dream tech stocks that have no oratings and still trading
Speaker 1: at very lofty multiples despite sell off so far. Big
Speaker 1: pivot ahead. Thanks for this, Patrick, good having you on.
Speaker 1: Really appreciated. Patrick Armstrong, Chief Investment Officer at Plurimi Wealth.
Speaker 1: Karen Nathan, It is five fifty three on Wall Street.
Speaker 1: Time for that. Bloomberg The Law Report. Let's get to
Speaker 1: the legal stories we're watching this morning. From Bloomberg's Jeff Linger.
Speaker 1: Alterneys see potential legal problems over Ocean's proposed worker heat
Speaker 1: protection rule, among them an argument that the agency is
Speaker 1: trying to regulate a public health hazard. Filing in a
Speaker 1: New York federal court indicates three consumers agreed to end
Speaker 1: claims alleging the Procter and Gamble's Crest gumm and Enameled
Speaker 1: Repair toothpaste was deceptively marketed. Federal judge in Connecticut awarded
Speaker 1: additional damages to three female tech support workers who sued
Speaker 1: New England Computer Services for sex bias. Bloomberg Law everything
Speaker 1: you need, all on one legal research platform, including guidance
Speaker 1: analysis and Bloomberg Market Intelligence. Find out more at Bloomberg
Speaker 1: law dot Com. Jeff, thank you. Now, another legal story
Speaker 1: we're watching brings us to last year's attack on the Capitol.
Speaker 1: The first person to go on trial over Churchis coming
Speaker 1: from the insurrection, was found guilty of obstruction of Congress
Speaker 1: and four other counts. The jury convicted Guy raf At,
Speaker 1: a Texas member of the three percenter's militia group who
Speaker 1: was turned in by his own son. For more in
Speaker 1: the case, June Grasso speaks to Bloomberg the legal reporter
Speaker 1: Eric Larson. Let's talk about the prosecution's case, and what
Speaker 1: was so unusual and telling was that his son was
Speaker 1: the government's star witness against him. That was a real twist.
Speaker 1: His then eighteen year old sign contacted the FBI, informed
Speaker 1: them about his father's involvement in the riots, and even
Speaker 1: one so far as to secretly record his father talking
Speaker 1: at the kitchen table, to put his iPhone down on
Speaker 1: the table and just let his father speak as he
Speaker 1: was bragging about all of his activities on January six.
Speaker 1: So he really went pretty far and trying to help
Speaker 1: the government. And one of his reasons for doing so
Speaker 1: is that at one point, as his father realized that
Speaker 1: so many writers were being arrested and charged. He threatened
Speaker 1: his children to keep them clients, knowing that they had
Speaker 1: different political views than he did, and knowing that they
Speaker 1: had some pretty incriminating information. He told them that speaking
Speaker 1: with law enforcement would be treason and that traders get shots,
Speaker 1: as they put it. You know, it was really a
Speaker 1: lot of evidence, I have to say. I showed the
Speaker 1: video footage of people attacking. They had witnesses talk from
Speaker 1: the Senate floor explaining how they had to abandon the session.
Speaker 1: They showed cell phone footage from other writers. Mr Ruff's
Speaker 1: own helmet mounted camera, his zoom calls with other militia leaders,
Speaker 1: things like that. So they really put it all out there.
Speaker 1: The jury didn't take very long to come back with
Speaker 1: guilty on all charges. Was this trial at test for prosecutors?
Speaker 1: In some ways? I would say so. I think that,
Speaker 1: especially the obstruction of Congress charge, there has been some
Speaker 1: dispute over whether or not Congress was technically in session
Speaker 1: at the moment that the capital was breached, and whether
Speaker 1: or not the certification of the votes qualifies as the
Speaker 1: kind of legal proceeding that can be obstructed. Sort of
Speaker 1: technical arguments around that, and the judge had denied emotion
Speaker 1: to dismiss that charge earlier, and of course it went
Speaker 1: to trial and that jury agreed based on the evidence
Speaker 1: that Congress wasn't session, that what was happening was an
Speaker 1: official proceeding of the government, and that it was obstructed
Speaker 1: by the actions. So I did speak with a former
Speaker 1: federal prosecutor who said that that wasn't important to us
Speaker 1: to see if a jury would agree that Congress has
Speaker 1: been obstructed, since that is a charge that will see
Speaker 1: in so many of these cases. And as Bloomberg Legal
Speaker 1: reporter Eric Larson speaking with June Grosso, catch more of
Speaker 1: that interview plus analysis of the latest legal news by
Speaker 1: listening to the Bloomberg Law Show at ten pm Eastern Time.
Speaker 1: Were subscribing to the Bloomberg Law Podcast, and attorneys can
Speaker 1: find exceptional legal research and business development tools at Bloomberg
Speaker 1: Law dot com. And futures this morning are on the rise.
Speaker 1: SMP futures up twenty two points, Dow futures have one
Speaker 1: thirty two, NAS day futures up seventy eight, and the
Speaker 1: ten year treasury up two thirties seconds. He had one
Speaker 1: point nine seven percent yield on the two year one
Speaker 1: point seven zero percent. Still ahead on Bloomberg day Break
Speaker 1: and check on the business headlines and all the news
Speaker 1: you need to start your day. This is Bloomberg.