1 00:00:02,279 --> 00:00:05,680 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:05,760 --> 00:00:09,640 Speaker 1: Daybreak for Monday, March fourteen two. Coming up to sour 3 00:00:09,880 --> 00:00:13,399 Speaker 1: Russia increases its aerial attacks on the western areas closer 4 00:00:13,440 --> 00:00:15,920 Speaker 1: to Ukraine's porter with Poland. The U. S And China 5 00:00:15,960 --> 00:00:18,560 Speaker 1: behold their first high level in person thomps since the 6 00:00:18,560 --> 00:00:21,520 Speaker 1: war began. Of the Wall Street Firm, concerts s and 7 00:00:21,560 --> 00:00:23,920 Speaker 1: p five hundred targets and the beds expected to raise 8 00:00:24,000 --> 00:00:26,560 Speaker 1: interest rates this week. The and YPD is looking for 9 00:00:26,600 --> 00:00:29,280 Speaker 1: a suspect and fatally attack homeless men who are sleeping 10 00:00:29,320 --> 00:00:32,159 Speaker 1: in the streets. Plus, North Korea made teston I CBM 11 00:00:32,200 --> 00:00:35,520 Speaker 1: as soon as this week. I'm Michael Ballad, I'm John Stage. 12 00:00:35,520 --> 00:00:37,800 Speaker 1: Are in sports. Tom Brady's but sirement is over and 13 00:00:37,800 --> 00:00:40,520 Speaker 1: he's back with Sampa Bay. The Yankees made the big trade, 14 00:00:40,560 --> 00:00:45,519 Speaker 1: The Neds beat the Nags. That's all trendy ahead on 15 00:00:45,600 --> 00:00:48,840 Speaker 1: Bloomberg Daybreak on Bloomberg E Live in Freeo, New York, 16 00:00:48,960 --> 00:00:53,519 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 17 00:00:53,640 --> 00:00:57,920 Speaker 1: Bloomberg nine sixty, San Francisco, Syria's x M one nineteen 18 00:00:58,080 --> 00:01:01,000 Speaker 1: and around the world. On Bloomberg, Radyo dot com and 19 00:01:01,120 --> 00:01:10,080 Speaker 1: via the Bloomberg Business Actor. Good morning, I'm John Tucker 20 00:01:10,520 --> 00:01:13,760 Speaker 1: and I'm Karen. Moscow and futures are higher this morning. 21 00:01:13,760 --> 00:01:15,440 Speaker 1: We're coming up to five o one on Wall Street 22 00:01:15,480 --> 00:01:17,640 Speaker 1: and we checked the markets every fifteen minutes throughout the 23 00:01:17,640 --> 00:01:20,240 Speaker 1: trading day on Bloomberg. Right now is in the futures 24 00:01:20,240 --> 00:01:23,199 Speaker 1: are up twenty seven points down, futures up two hundred 25 00:01:23,280 --> 00:01:26,120 Speaker 1: forty nine and NASDAG future is up forty five. The 26 00:01:26,200 --> 00:01:29,080 Speaker 1: decks in Germany is up two point one percent. Ten 27 00:01:29,160 --> 00:01:32,200 Speaker 1: year treasury down seventeen thirty seconds yield two point oh 28 00:01:32,200 --> 00:01:34,559 Speaker 1: five percent. They yield on the two year one point 29 00:01:34,640 --> 00:01:37,840 Speaker 1: seven eight percent. Nine X screwed oil is down three 30 00:01:37,959 --> 00:01:40,399 Speaker 1: and a half percent, down three dollars cents and a 31 00:01:40,440 --> 00:01:43,240 Speaker 1: hundred five dollars forty four cents of barrel and comexs 32 00:01:43,280 --> 00:01:46,520 Speaker 1: gold is down seven tenths percent, John, Karen, We're going 33 00:01:46,600 --> 00:01:48,760 Speaker 1: to have more on the markets in a minute, but first, 34 00:01:49,080 --> 00:01:52,120 Speaker 1: negotiators from Russia and Ukraine are set to hold more 35 00:01:52,200 --> 00:01:55,680 Speaker 1: talks today after a weekend where Moscow increased its aerial 36 00:01:55,680 --> 00:02:00,400 Speaker 1: attacks on western areas close to Ukraine's border with Poland. Meanwhile, 37 00:02:00,560 --> 00:02:03,880 Speaker 1: US officials say Russia has asked China for military assistance 38 00:02:03,920 --> 00:02:07,040 Speaker 1: for its war in Ukraine. Bloomberg Samy Morris has more 39 00:02:07,120 --> 00:02:11,680 Speaker 1: from our n newsroom in Washington. It appears Vladimir Putin 40 00:02:11,720 --> 00:02:14,239 Speaker 1: has faced more setbacks than he expected in the war 41 00:02:14,280 --> 00:02:17,480 Speaker 1: with Ukraine, when US official tells Bloomberg the request for 42 00:02:17,560 --> 00:02:20,240 Speaker 1: eight from China isn't new, but did not say what 43 00:02:20,400 --> 00:02:23,640 Speaker 1: kind of equipment Moscow is asking for. This. As Pentagon 44 00:02:23,760 --> 00:02:27,080 Speaker 1: spokesman John Kirby tells ABC S this week, the US 45 00:02:27,200 --> 00:02:29,920 Speaker 1: continues to back Ukraine. We're going to continue to flow 46 00:02:29,960 --> 00:02:32,880 Speaker 1: security assistance to them, the kinds of things we know 47 00:02:32,960 --> 00:02:35,280 Speaker 1: they most need, the kinds of things that they're using 48 00:02:35,360 --> 00:02:37,600 Speaker 1: so well, We're going to continue to help get them, 49 00:02:37,760 --> 00:02:40,959 Speaker 1: get them into their hands. Meanwhile, Russia attacked the military 50 00:02:40,960 --> 00:02:43,919 Speaker 1: base that acts as a hub for cooperation between Ukraine 51 00:02:43,919 --> 00:02:47,280 Speaker 1: and NATO countries. That raises the possibility the Alliance could 52 00:02:47,280 --> 00:02:50,080 Speaker 1: be drawn into the fight in Washington. I maybe more 53 00:02:50,120 --> 00:02:52,520 Speaker 1: as Bloomberg daybreak. All right, Amy, thank you, The U 54 00:02:52,600 --> 00:02:55,160 Speaker 1: S and Shina will hole the first high level in 55 00:02:55,200 --> 00:02:58,480 Speaker 1: person talks since Russia's full invasion of Ukraine. We get 56 00:02:58,480 --> 00:03:01,960 Speaker 1: more from Bloomberg Stephen Angle in Hong Kong, the National 57 00:03:01,960 --> 00:03:05,160 Speaker 1: Security Advisor Jake Sullivan will be meeting face to face 58 00:03:05,240 --> 00:03:08,640 Speaker 1: with Young j He is China's top diplomat. He is 59 00:03:08,720 --> 00:03:12,079 Speaker 1: a top ranking official on the Polar Bureau. So they 60 00:03:12,160 --> 00:03:15,840 Speaker 1: are raising, um, you know, the level of contact because 61 00:03:15,880 --> 00:03:19,280 Speaker 1: the White House, while stopping short of, you know, outright 62 00:03:19,720 --> 00:03:25,840 Speaker 1: condemning Beijing's neutral stance, they're trying to court Beijing's efforts 63 00:03:25,880 --> 00:03:30,480 Speaker 1: to you know, wield its influence on Moscow, to a 64 00:03:31,240 --> 00:03:35,480 Speaker 1: enforce the sanctions and as well, of course, ultimately help 65 00:03:36,120 --> 00:03:40,160 Speaker 1: persuade Vladimir Putin to end his war in Ukraine, and 66 00:03:40,160 --> 00:03:43,480 Speaker 1: Bloomberry Stephen Angeles says the meeting will take place in Rome, 67 00:03:44,040 --> 00:03:48,360 Speaker 1: and Russian prosecutors reportedly are threatening US companies such as McDonald's, 68 00:03:48,400 --> 00:03:52,440 Speaker 1: Yum and IBM for criticizing the government or pulling out 69 00:03:52,440 --> 00:03:55,360 Speaker 1: of the country. According to The Wall Street Journal, assets 70 00:03:55,400 --> 00:03:59,000 Speaker 1: could be seized or corporate leaders could be targeted for arrest. 71 00:03:59,800 --> 00:04:03,400 Speaker 1: I Yance Chief Economic Advisor Mohammed Hilarian is saying the 72 00:04:03,440 --> 00:04:07,840 Speaker 1: economic fallout from Russian President Vladimir Putin's full scare invasion 73 00:04:07,880 --> 00:04:10,720 Speaker 1: of Ukraine is likely to include a further pickup in 74 00:04:10,840 --> 00:04:14,560 Speaker 1: US inflation, there will be a putent inflation component. I 75 00:04:14,760 --> 00:04:18,400 Speaker 1: estimate that at seven point nine percent, we will probably 76 00:04:18,440 --> 00:04:22,440 Speaker 1: get very close or about ten percent before we come down, 77 00:04:22,839 --> 00:04:27,080 Speaker 1: and that difference will be all because of the disruption 78 00:04:27,720 --> 00:04:32,800 Speaker 1: that Putin's war imply for commodity prices, supply chains, and shipments. 79 00:04:33,040 --> 00:04:36,000 Speaker 1: Muhammed Hilarian, who is also a Bloomberg contributor, made the 80 00:04:36,040 --> 00:04:38,680 Speaker 1: comments on CBSS Face the Nation, which can be heard 81 00:04:38,760 --> 00:04:42,000 Speaker 1: Sundays on Bloomberg Radio, and inflation is a key reason 82 00:04:42,040 --> 00:04:45,240 Speaker 1: why investors expect the Fed to begin raising interest rates 83 00:04:45,279 --> 00:04:48,680 Speaker 1: this week. Let's get more from Bloomberg's Fanny Down. The 84 00:04:48,720 --> 00:04:52,160 Speaker 1: Fed meets Tuesday and Wednesday, and central bankers I signalville 85 00:04:52,240 --> 00:04:54,960 Speaker 1: lift rates after a big cut to near zero at 86 00:04:55,000 --> 00:04:58,559 Speaker 1: the start of the pandemic in March, Americans are losing 87 00:04:58,560 --> 00:05:01,640 Speaker 1: ground to inflation, and that's putting a big consumer confidence 88 00:05:01,839 --> 00:05:04,280 Speaker 1: lows going back to the financial crisis more than a 89 00:05:04,360 --> 00:05:08,320 Speaker 1: decade ago. Data Tuesday in February, wholesale prices could show 90 00:05:08,360 --> 00:05:11,520 Speaker 1: a year over year gain of ten percent. Three Kink 91 00:05:11,560 --> 00:05:15,080 Speaker 1: reports this week, retail sales and industrial production could point 92 00:05:15,080 --> 00:05:18,880 Speaker 1: to moderating economic growth across the US. Bene jud S 93 00:05:18,880 --> 00:05:21,640 Speaker 1: Bloomberg day Break, Right, Bennie, thank you all. Higher interest 94 00:05:21,760 --> 00:05:24,640 Speaker 1: rates a commodity crunch in the war has won Wall 95 00:05:24,680 --> 00:05:27,840 Speaker 1: Street firm cutting its stock targets once again. We get 96 00:05:27,839 --> 00:05:30,279 Speaker 1: the latest line from Bloomberg's renaed A Young, good morning, 97 00:05:30,320 --> 00:05:33,600 Speaker 1: Ready to good morning, Karen. Goldman Sachs strategists are lowering 98 00:05:33,640 --> 00:05:36,320 Speaker 1: their SNP five hundred target for the second time in 99 00:05:36,360 --> 00:05:40,599 Speaker 1: a month, this time from forty to forty hundred. The 100 00:05:40,640 --> 00:05:45,000 Speaker 1: index closed just above forty two hundred on Friday. Now 101 00:05:45,000 --> 00:05:48,320 Speaker 1: it comes as the global commodity crunch, triggered by Russia's 102 00:05:48,320 --> 00:05:52,960 Speaker 1: invasion of Ukraine, deepens the slump in US stocks last month, 103 00:05:53,000 --> 00:05:55,600 Speaker 1: Goldman cut its initial year in target of fifty one 104 00:05:56,080 --> 00:05:59,240 Speaker 1: points for the SNP five Live in New York. I'm 105 00:05:59,240 --> 00:06:02,400 Speaker 1: gonna need a young Bloomberg Daybreak, thanks for a huge 106 00:06:02,400 --> 00:06:05,320 Speaker 1: sell off over night and tech stocks in Asia. Let's 107 00:06:05,320 --> 00:06:09,800 Speaker 1: get the rica from Bloomberg's Juliet Sally and Singapore. Good morning, Juliet, 108 00:06:09,960 --> 00:06:11,800 Speaker 1: Good morning, John, and Karen. A plunge of as much 109 00:06:11,800 --> 00:06:13,760 Speaker 1: as eight and a half percent in a gauge of 110 00:06:13,839 --> 00:06:17,719 Speaker 1: Chinese tech firms listed in Hong Kong reverberated around the region, 111 00:06:18,040 --> 00:06:20,520 Speaker 1: leaving the ms CI Asia Pacific Index in the red 112 00:06:20,560 --> 00:06:24,000 Speaker 1: for a second session. A COVID lockdown in Shenjen, which 113 00:06:24,040 --> 00:06:27,680 Speaker 1: is a tech hub, added to geopolitical and regulatory risks 114 00:06:27,800 --> 00:06:31,479 Speaker 1: facing the sectum. A Bloomberg Intelligence gauge tracking Macaw gaming 115 00:06:31,480 --> 00:06:33,920 Speaker 1: and casino stocks slumped as much as nine percent to 116 00:06:34,000 --> 00:06:37,160 Speaker 1: a record low as China place the southern city into lockdown, 117 00:06:37,480 --> 00:06:39,640 Speaker 1: and elsewhere. A week again saw the neck two to 118 00:06:39,800 --> 00:06:43,040 Speaker 1: five games, six tenths of one percent in Tokyo in Singapore. 119 00:06:43,080 --> 00:06:46,240 Speaker 1: Juliet Sally Bloomberg Daybreak a right, Juliet, thank you all. 120 00:06:46,320 --> 00:06:49,440 Speaker 1: Bitcoin ether and dodge cooin got a quick boost today 121 00:06:49,440 --> 00:06:52,320 Speaker 1: after Elon Musk tweeted that he owns the digital tokens 122 00:06:52,360 --> 00:06:55,080 Speaker 1: and is not planning to sell Bitcoin, which has fallen 123 00:06:55,080 --> 00:06:57,919 Speaker 1: almost three percent before a Musk tweet right now is 124 00:06:57,960 --> 00:07:01,960 Speaker 1: trading at thirty nine thousand, eighteen dollars. It's up about 125 00:07:02,040 --> 00:07:05,559 Speaker 1: nine tenths per cent again. Futures are higher this morning, 126 00:07:05,680 --> 00:07:08,480 Speaker 1: S ANDP futures up thirty two points to down futures 127 00:07:08,720 --> 00:07:12,160 Speaker 1: up two hundred six and NASDAG futures up sixty six 128 00:07:12,520 --> 00:07:16,160 Speaker 1: and straight ahead, your latest local headlines, plus a check 129 00:07:16,200 --> 00:07:25,360 Speaker 1: of sports, and this is Bloomberg. Thanks Karen. Five Wall 130 00:07:25,400 --> 00:07:27,720 Speaker 1: Street hand time to bring in Michael Barr with more 131 00:07:27,760 --> 00:07:30,040 Speaker 1: on what else is going on in New York Hands 132 00:07:30,520 --> 00:07:33,240 Speaker 1: around the world, John, thank you very much, Sarah Police 133 00:07:33,280 --> 00:07:35,720 Speaker 1: saying they are searching for a man who is believed 134 00:07:35,760 --> 00:07:38,480 Speaker 1: to have attacked multiple people who are sleeping on the 135 00:07:38,520 --> 00:07:41,720 Speaker 1: streets in New York City and Washington, d C, killing 136 00:07:41,720 --> 00:07:45,400 Speaker 1: two of his victims and injuring three others. DC police 137 00:07:45,440 --> 00:07:47,800 Speaker 1: said they are working with the NYPD to find the 138 00:07:47,840 --> 00:07:49,840 Speaker 1: man who fatally shot and stabbed a man in the 139 00:07:49,920 --> 00:07:53,120 Speaker 1: district and then killed another man Saturday. In New York City, 140 00:07:53,520 --> 00:07:57,239 Speaker 1: New York Mayor Eric Adams says a city task force 141 00:07:57,400 --> 00:08:00,080 Speaker 1: would focus on finding homeless people in the subway and 142 00:08:00,160 --> 00:08:04,040 Speaker 1: other locations and urged them to take refuge at city 143 00:08:04,080 --> 00:08:09,040 Speaker 1: owned shelters. We're going to take extra steps to encourage 144 00:08:09,120 --> 00:08:13,840 Speaker 1: individuals to go into the shelters for safety reasons as 145 00:08:13,880 --> 00:08:18,680 Speaker 1: well as the coring whether condition. Mayor Adams says this 146 00:08:18,760 --> 00:08:21,119 Speaker 1: is a clear case of how there are too many 147 00:08:21,160 --> 00:08:24,800 Speaker 1: illegal guns on the streets. New York City police say 148 00:08:24,840 --> 00:08:28,320 Speaker 1: they have identified demand who they say snapped two employees 149 00:08:28,320 --> 00:08:31,680 Speaker 1: of the Museum of Modern Art. Video released by police 150 00:08:31,720 --> 00:08:34,760 Speaker 1: shows a man identified a sixty year old Gary Cobnana 151 00:08:35,200 --> 00:08:38,520 Speaker 1: entering the museum lobby through a revolving door, then climbing 152 00:08:38,640 --> 00:08:41,960 Speaker 1: onto the desk and leaving over it before cornering the 153 00:08:42,000 --> 00:08:46,400 Speaker 1: two employees and stabbing them. Authorities say the employees suffered 154 00:08:46,440 --> 00:08:50,280 Speaker 1: non life threatening injuries. North Korea could reportedly launch an 155 00:08:50,280 --> 00:08:53,480 Speaker 1: i CBM as soon as this week. That's according to 156 00:08:53,559 --> 00:08:57,240 Speaker 1: the onhapp news agency. It would be its most serious 157 00:08:57,280 --> 00:09:01,040 Speaker 1: provocation in five years. New York City Health Commissioner Dave 158 00:09:01,160 --> 00:09:04,400 Speaker 1: Choky is talking about the mental health toll from the 159 00:09:04,440 --> 00:09:09,000 Speaker 1: spread of COVID nineteen. Dr Chatsky says that even members 160 00:09:09,080 --> 00:09:11,960 Speaker 1: of his own families struggled emotionally due to the impact 161 00:09:12,000 --> 00:09:16,000 Speaker 1: from the coronavirus. Many people have not actually been asked about, 162 00:09:16,440 --> 00:09:19,480 Speaker 1: but then when you do, there is this opening up 163 00:09:19,520 --> 00:09:24,079 Speaker 1: that occurs because so many people have felt disconnected in 164 00:09:24,120 --> 00:09:29,520 Speaker 1: some way. Dr Chowsky's plan on stepping down today. Today, 165 00:09:29,520 --> 00:09:32,480 Speaker 1: a ceremony will be held to mark his last day 166 00:09:32,520 --> 00:09:35,480 Speaker 1: as New York City's health commissioner. An Oscar winning actor 167 00:09:35,520 --> 00:09:38,360 Speaker 1: William Hurd. His died at age seventy one. His films 168 00:09:38,360 --> 00:09:42,120 Speaker 1: included Broadcast News and The Big Chill. Herd Son sat 169 00:09:42,160 --> 00:09:44,520 Speaker 1: in a statement that his father died of natural causes. 170 00:09:44,920 --> 00:09:47,560 Speaker 1: Global News twenty four hours a day on air and 171 00:09:47,760 --> 00:09:51,719 Speaker 1: on Bloomberg Quick Tank, powered by more than journalists and 172 00:09:51,760 --> 00:09:54,720 Speaker 1: ninalists more than a hundred twenty countries. Michael Barr and 173 00:09:54,800 --> 00:10:01,840 Speaker 1: this is Bloomberg, John, Michael, thank you very much. Yeah. 174 00:10:02,080 --> 00:10:04,240 Speaker 1: Five vote line of Wall Street Camp. That's time with 175 00:10:04,280 --> 00:10:07,120 Speaker 1: the Blueberg Sports up tape. Good Morning, John Stown Show. 176 00:10:07,160 --> 00:10:09,520 Speaker 1: All right, John, Good morning. That was quick. Tom Brady 177 00:10:09,559 --> 00:10:13,439 Speaker 1: retired on February one, forty days later changed his mind, 178 00:10:13,480 --> 00:10:15,920 Speaker 1: setting a statement that time will come, but it's not now. 179 00:10:16,000 --> 00:10:18,440 Speaker 1: My place is on the field, not in the stands. 180 00:10:18,440 --> 00:10:21,360 Speaker 1: He's forty four, not as if he can't play anymore. 181 00:10:21,400 --> 00:10:23,400 Speaker 1: Just had a terrific season with Tampa Bay. Will now 182 00:10:23,440 --> 00:10:26,320 Speaker 1: play a third season with the Bucks after twenty in 183 00:10:26,360 --> 00:10:28,680 Speaker 1: New England. In Tampa, the Yankees just held their first 184 00:10:28,679 --> 00:10:31,240 Speaker 1: official team workout and then made a trade with the 185 00:10:31,280 --> 00:10:35,280 Speaker 1: Minnesota Twins, sent packing Gary Sanchez, the Yanks starting catchers 186 00:10:35,320 --> 00:10:38,319 Speaker 1: since two thousand seventeen, and g o Or Shella, they're 187 00:10:38,360 --> 00:10:41,120 Speaker 1: starting third baseman. The last three seasons, the Yanks acquired 188 00:10:41,120 --> 00:10:44,240 Speaker 1: a new left side of the infield, veteran third baseman 189 00:10:44,320 --> 00:10:48,800 Speaker 1: Josh Donaldson and shortstop Isaiah Kiner. Fef twenty six year 190 00:10:48,840 --> 00:10:51,640 Speaker 1: old was a Gold Glove winning third baseman with Texas 191 00:10:51,640 --> 00:10:54,120 Speaker 1: and twenty they moved him to shortstop last season. They 192 00:10:54,120 --> 00:10:57,400 Speaker 1: traded him to the Twins on Saturday, and the next day, 193 00:10:57,440 --> 00:11:00,120 Speaker 1: the Twins shipped him to the Yanks. Nets be the 194 00:11:00,160 --> 00:11:02,959 Speaker 1: next one ten one oh seven, Kevin rant scored fifty 195 00:11:03,040 --> 00:11:06,840 Speaker 1: three points. The unvaccinated Kyrie Irving not allowed to play 196 00:11:06,880 --> 00:11:09,240 Speaker 1: home games, but he was at the Barkley Center sitting 197 00:11:09,280 --> 00:11:12,240 Speaker 1: in the stands. That led Kadi to reach out to 198 00:11:12,280 --> 00:11:14,839 Speaker 1: New York City Mayor Eric Adams and I say, Eric, 199 00:11:14,880 --> 00:11:18,000 Speaker 1: you gotta I mean, you gotta figure something out, man, 200 00:11:18,040 --> 00:11:22,320 Speaker 1: because you know it's looking crazy, especially on national TV. 201 00:11:22,600 --> 00:11:24,920 Speaker 1: And we can come to the game and not play 202 00:11:25,040 --> 00:11:28,760 Speaker 1: like come on. And they has said since city workers 203 00:11:28,800 --> 00:11:31,400 Speaker 1: lost their jobs for not getting the vaccine, Irving should 204 00:11:31,400 --> 00:11:34,360 Speaker 1: not get special treatment. Islanders beat the Ducks for three 205 00:11:34,480 --> 00:11:36,800 Speaker 1: n C double A tournament Field announced Ruttors will play 206 00:11:36,840 --> 00:11:40,480 Speaker 1: Notre Dame on Wednesday, Seaton Hall takes on TCU on Friday. 207 00:11:40,800 --> 00:11:43,760 Speaker 1: John Stashward Bloomberg Sports. John all right, John, thanks a lot, 208 00:11:43,840 --> 00:11:45,640 Speaker 1: and ahead of the cashowup a lot of ball Street 209 00:11:45,640 --> 00:11:48,080 Speaker 1: futures in the US. They are higher right now, all 210 00:11:48,120 --> 00:11:52,360 Speaker 1: DEA futures three D twenty four points, the ESSP futures 211 00:11:52,400 --> 00:11:55,120 Speaker 1: up thirty seven and the ADS that he made futures 212 00:11:55,200 --> 00:11:58,760 Speaker 1: right now they are up eighty two points. And you're 213 00:11:58,800 --> 00:12:10,559 Speaker 1: listening to burg Tape break is the cure for higher prices, 214 00:12:10,840 --> 00:12:13,480 Speaker 1: higher prices. Just ahead, we're going to speak with the 215 00:12:13,559 --> 00:12:18,600 Speaker 1: commas Dennis Garthen this bed week. You're listening to Bloomberg 216 00:12:18,640 --> 00:12:25,040 Speaker 1: tay break, markets, headlines and breaking news twenty four hours 217 00:12:25,040 --> 00:12:28,320 Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business Outland, 218 00:12:28,360 --> 00:12:37,440 Speaker 1: at Bloomberg Quick Tape. This is a Bloomberg Business lash 219 00:12:37,880 --> 00:12:40,640 Speaker 1: and I'm Karen Moscow. Stocks in Europe are rising along 220 00:12:40,679 --> 00:12:44,000 Speaker 1: with US stock index futures as negotiators from Russia and 221 00:12:44,160 --> 00:12:47,000 Speaker 1: Ukraine prepare for a new route of talks. A global 222 00:12:47,040 --> 00:12:50,120 Speaker 1: bond route deepened with the five year treasury yield cresting 223 00:12:50,200 --> 00:12:53,480 Speaker 1: two for the first time since and we checked the 224 00:12:53,480 --> 00:12:56,479 Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg 225 00:12:56,520 --> 00:12:58,800 Speaker 1: Right now, S and P futures up thirty two points. 226 00:12:59,080 --> 00:13:01,880 Speaker 1: Now futures have two hundred ninety two and nasdak features 227 00:13:01,920 --> 00:13:04,640 Speaker 1: up sixty three. The decks in Germany's up two and 228 00:13:04,640 --> 00:13:07,959 Speaker 1: a half percent, the ten year treasury down twenty thirty seconds, 229 00:13:08,120 --> 00:13:10,319 Speaker 1: the yel two point out eight percent. They yield on 230 00:13:10,360 --> 00:13:13,679 Speaker 1: the two year one point eight zero percent. Nimex screwed 231 00:13:13,720 --> 00:13:16,600 Speaker 1: oil is down three point eight percent, down four dollars 232 00:13:16,679 --> 00:13:19,040 Speaker 1: sixteen cents at a hundred five dollars sixteen cents of 233 00:13:19,240 --> 00:13:21,840 Speaker 1: Arrol Comic School down eight tenths per cent, or sixteen 234 00:13:21,840 --> 00:13:25,080 Speaker 1: dollars thirty cents at nineteen sixty eight fifty announced. The 235 00:13:25,160 --> 00:13:27,720 Speaker 1: Euro one point oh nine six four against the dollar, 236 00:13:27,760 --> 00:13:30,320 Speaker 1: British pound one point three zero four eight, the ends 237 00:13:30,320 --> 00:13:34,200 Speaker 1: at one seventeen point eight one, and Bitcoin this morning 238 00:13:34,360 --> 00:13:36,880 Speaker 1: is higher, up eight tens of a percent at thirty 239 00:13:36,960 --> 00:13:41,320 Speaker 1: eight thousand, nine hundred fifty dollars. That's a Bloomberg business flash. 240 00:13:41,320 --> 00:13:43,319 Speaker 1: Now here's metel Bar with more on what's going on 241 00:13:43,480 --> 00:13:46,600 Speaker 1: around the world. Muddle, Good morning, Good morning, Karen. Russia's 242 00:13:46,679 --> 00:13:50,720 Speaker 1: military forces are keeping up their campaign to capture Ukraine's capital, 243 00:13:51,000 --> 00:13:54,200 Speaker 1: as residents of other besieged cities hold out hope that 244 00:13:54,280 --> 00:13:57,640 Speaker 1: renewed diplomatic talks might open the way for more civilians 245 00:13:57,640 --> 00:14:01,079 Speaker 1: to evacuate or emergency supply is to reach them. A 246 00:14:01,200 --> 00:14:03,840 Speaker 1: day after expanding the war in Ukraine with an air 247 00:14:03,920 --> 00:14:06,640 Speaker 1: strike on a military base close to the Polish border, 248 00:14:07,040 --> 00:14:10,240 Speaker 1: Russian force has fired artillery on suburbs north and east 249 00:14:10,240 --> 00:14:14,400 Speaker 1: of Keith. NFL superstar Tom Brady announced that his short 250 00:14:14,440 --> 00:14:18,400 Speaker 1: lived retirement is over. Brady posted on Instagram that he 251 00:14:18,480 --> 00:14:21,200 Speaker 1: believes his time isn't over yet on the field and 252 00:14:21,240 --> 00:14:23,360 Speaker 1: he will return for a twenty third season with the 253 00:14:23,400 --> 00:14:26,680 Speaker 1: Tampa Bay Buccaneers in the NBA. The Nets beat the 254 00:14:26,720 --> 00:14:30,520 Speaker 1: next Celtics lost in the NHL. The Islanders won global 255 00:14:30,560 --> 00:14:33,080 Speaker 1: news twenty four hours a day on here and on 256 00:14:33,160 --> 00:14:36,600 Speaker 1: Bloomberg quick Take, powered by more than twenty seven hundred 257 00:14:36,640 --> 00:14:39,520 Speaker 1: journalists and then alst to more than a hundred twenty countries. Hi, 258 00:14:39,640 --> 00:14:42,960 Speaker 1: Michael Barr, and this is Bloomberg John Michael, Thank you 259 00:14:43,080 --> 00:14:45,320 Speaker 1: very much, and he is coming up on five twenty 260 00:14:45,320 --> 00:14:47,520 Speaker 1: on Wall Street. We're live on the Bloomberg intraand to 261 00:14:47,600 --> 00:14:51,720 Speaker 1: Broker Studios this is Bloomberg Day Break time to get 262 00:14:51,760 --> 00:14:54,040 Speaker 1: you set up for the trading day. We are joined 263 00:14:54,040 --> 00:14:58,400 Speaker 1: now by economist Dennis Scartman, the University of Akron in Downland, Chair, 264 00:14:58,800 --> 00:15:03,120 Speaker 1: former publisher of the Gartment letter Happy Monday. Dennis. Of course, 265 00:15:03,160 --> 00:15:06,880 Speaker 1: Federals are publicy makers widely expected to raise their benchmark 266 00:15:06,920 --> 00:15:09,520 Speaker 1: cancers rate this week. What's going to be the impact 267 00:15:09,600 --> 00:15:13,360 Speaker 1: for equity investors? Well, I think, first of all, let's 268 00:15:13,400 --> 00:15:15,320 Speaker 1: understand that, yes, the Feed is going to raise the 269 00:15:15,320 --> 00:15:17,920 Speaker 1: overnight fet funds rate by twenty five basis points. Mr 270 00:15:17,960 --> 00:15:21,360 Speaker 1: Powell has made that abundantly clear. There was talk two 271 00:15:21,400 --> 00:15:23,600 Speaker 1: and three weeks ago before Mr Powell made it clear 272 00:15:23,640 --> 00:15:26,400 Speaker 1: that perhaps they had raised it by fifty basis points, 273 00:15:26,400 --> 00:15:30,200 Speaker 1: but now it appears to seven will probably twenty five 274 00:15:30,200 --> 00:15:33,120 Speaker 1: basis points for every meeting this year, and it means 275 00:15:33,240 --> 00:15:35,680 Speaker 1: over time that the yield curve is probably going to 276 00:15:35,720 --> 00:15:37,880 Speaker 1: go to a slight inversion by year end, which would 277 00:15:37,880 --> 00:15:41,480 Speaker 1: be recessionary. On balance, I think that that's detrimental to 278 00:15:41,560 --> 00:15:44,880 Speaker 1: stock prices in the long run. But something that I 279 00:15:44,920 --> 00:15:47,480 Speaker 1: watched on a close basis is the CNN Fair and 280 00:15:47,560 --> 00:15:50,800 Speaker 1: Greed Index, which is a compendium of seven different indicators 281 00:15:50,800 --> 00:15:54,360 Speaker 1: of the internal components of the market, and it goes 282 00:15:54,440 --> 00:15:57,520 Speaker 1: from a hundred to zero. The highest I've ever seen 283 00:15:57,560 --> 00:16:01,000 Speaker 1: it when the market is overbought, as which was in 284 00:16:01,120 --> 00:16:07,120 Speaker 1: the Lady late before the market crashed, and the lowest 285 00:16:07,120 --> 00:16:09,960 Speaker 1: I've seen it was two, which was in March of 286 00:16:11,000 --> 00:16:16,760 Speaker 1: at the height of the of the pandemic concerns or 287 00:16:16,800 --> 00:16:19,360 Speaker 1: the start of the pandemic concerns. And right now we're 288 00:16:19,400 --> 00:16:23,640 Speaker 1: down to eleven. Actually we're turning up from to fourteen. 289 00:16:23,960 --> 00:16:25,880 Speaker 1: When you're down to those levels, when you're down under 290 00:16:25,880 --> 00:16:29,320 Speaker 1: twenty and turn higher. The market has been extremely oversold 291 00:16:29,320 --> 00:16:31,000 Speaker 1: and do for a bounce, and that's what we're getting. 292 00:16:31,040 --> 00:16:33,600 Speaker 1: So I think that the talk this morning of peace 293 00:16:33,640 --> 00:16:37,560 Speaker 1: talks once again is giving way to a bounce in 294 00:16:37,600 --> 00:16:39,480 Speaker 1: the stock market. I don't think it will last very long, 295 00:16:39,520 --> 00:16:42,680 Speaker 1: but we're gonna get it. We need a bounce. It's aggressively, 296 00:16:42,720 --> 00:16:46,040 Speaker 1: egregiously oversold, and the bounce is long overdoing. That's what 297 00:16:46,120 --> 00:16:50,000 Speaker 1: we're getting. Beyond that index, I'm looking at the fear gage, 298 00:16:50,200 --> 00:16:55,680 Speaker 1: the volatility index this morning, thirty eight six. That's elevated, 299 00:16:55,760 --> 00:16:58,880 Speaker 1: but certainly nowhere near the levels that we saw during 300 00:16:58,880 --> 00:17:02,920 Speaker 1: the start of the pandemic. No, it's not near the 301 00:17:03,680 --> 00:17:06,920 Speaker 1: levels that we got in February and March of but 302 00:17:07,040 --> 00:17:09,240 Speaker 1: anytime in my in my book, when you get over 303 00:17:09,280 --> 00:17:12,639 Speaker 1: thirty and turn lower, that's the the The VIX is 304 00:17:12,720 --> 00:17:15,880 Speaker 1: part of the CNN Fair and Greed Index itself, and 305 00:17:15,920 --> 00:17:19,480 Speaker 1: it's I think it's a bit overextended, so a little 306 00:17:19,520 --> 00:17:21,760 Speaker 1: exception at this point. I think at thirty it's it's 307 00:17:21,760 --> 00:17:24,320 Speaker 1: a little high. It can go. We we've seen it 308 00:17:24,400 --> 00:17:27,679 Speaker 1: decide at forty five at times, and that's during periods 309 00:17:27,720 --> 00:17:31,440 Speaker 1: of extreme price movements. One time last week, I think 310 00:17:31,440 --> 00:17:34,920 Speaker 1: you've got its highest thirty six inter day at thirty. 311 00:17:35,000 --> 00:17:37,399 Speaker 1: I think it's a little extended and one of the 312 00:17:37,400 --> 00:17:39,159 Speaker 1: one of the seven component parts of the Fair and 313 00:17:39,160 --> 00:17:41,800 Speaker 1: Greed Index, which is I said, has been down below 314 00:17:41,840 --> 00:17:43,840 Speaker 1: twenty and has turned higher. And when it does that, 315 00:17:44,280 --> 00:17:46,080 Speaker 1: you get a bounce. And that's what we're getting this morning. 316 00:17:46,320 --> 00:17:49,479 Speaker 1: In the commodity space. What is the term structure telling us? 317 00:17:50,680 --> 00:17:53,320 Speaker 1: The term structure has been I think something that you 318 00:17:53,359 --> 00:17:56,160 Speaker 1: need to follow very closely. I started in this bit 319 00:17:56,600 --> 00:17:58,919 Speaker 1: in the early nineteen seventies in the cotton market, and 320 00:17:58,920 --> 00:18:02,200 Speaker 1: I learned to watch how the front month's trade versus 321 00:18:02,240 --> 00:18:05,280 Speaker 1: the back months, whether we're in backwardation or contango. And 322 00:18:05,320 --> 00:18:07,639 Speaker 1: I learned long ago to watch the change in the 323 00:18:07,680 --> 00:18:10,840 Speaker 1: backwardation and watch the change in contango. We would do 324 00:18:11,480 --> 00:18:13,440 Speaker 1: in this run up in the in in crude oil, 325 00:18:13,480 --> 00:18:15,280 Speaker 1: when we got to what a hundred and thirty seven 326 00:18:15,280 --> 00:18:19,119 Speaker 1: dollars a barrel for w T I, the backwardation was 327 00:18:19,160 --> 00:18:22,679 Speaker 1: widening every single day. That would go up more on 328 00:18:22,600 --> 00:18:24,639 Speaker 1: on up days, the front month would lose less. On 329 00:18:24,720 --> 00:18:27,840 Speaker 1: down days, the backwardation would widen. And for a while 330 00:18:28,000 --> 00:18:31,040 Speaker 1: last week it was interesting, as the market was going higher, 331 00:18:31,080 --> 00:18:35,359 Speaker 1: the backwardation began to narrow. That's atypical, that's unusual, and 332 00:18:35,400 --> 00:18:38,040 Speaker 1: that was telling me that that the crude role market 333 00:18:38,119 --> 00:18:40,879 Speaker 1: was making its highs. I think we'll keep what the 334 00:18:40,880 --> 00:18:42,720 Speaker 1: crude roil market is doing. Keep an eye on what 335 00:18:42,800 --> 00:18:46,159 Speaker 1: the backwardation is doing. Uh. In in backward dated markets, 336 00:18:46,160 --> 00:18:47,960 Speaker 1: you don't want to be you don't want to be 337 00:18:48,119 --> 00:18:50,359 Speaker 1: a bear, But certainly when you start to see the 338 00:18:50,359 --> 00:18:53,600 Speaker 1: backwardation begin to narrow, you you lose your impetus of 339 00:18:53,680 --> 00:18:55,640 Speaker 1: being bullis. So keep an eye on the term structure. 340 00:18:55,640 --> 00:18:58,760 Speaker 1: I think in in in all carrying charge markets. Whether 341 00:18:58,800 --> 00:19:02,160 Speaker 1: it's corn, whether it's uh wheat, whether it's soybeans, whether 342 00:19:02,200 --> 00:19:05,720 Speaker 1: it's sugar, whether it's coffee, whether it's cocoa. Importantly, when 343 00:19:05,720 --> 00:19:08,280 Speaker 1: it's crude oil. The change in the in the in 344 00:19:08,320 --> 00:19:10,359 Speaker 1: the nature of the backwardation, the change in the nature 345 00:19:10,359 --> 00:19:15,760 Speaker 1: of the term structure is evidence of informed well hedging 346 00:19:15,800 --> 00:19:19,399 Speaker 1: money inform money wise money and the term structure was 347 00:19:19,440 --> 00:19:21,800 Speaker 1: beginning to turn barish in crude oil last week with 348 00:19:21,960 --> 00:19:25,400 Speaker 1: the idea that the higher prices cure higher prices. Are 349 00:19:25,400 --> 00:19:28,919 Speaker 1: you seeing demand destructure? Good? About twenty seconds. There's no 350 00:19:29,040 --> 00:19:31,480 Speaker 1: question you're seeing demand destruction. People are changing the manner 351 00:19:31,520 --> 00:19:33,800 Speaker 1: which they're driving the bills. People are changing the manner 352 00:19:33,840 --> 00:19:36,800 Speaker 1: which they're eating their houses. All all prices made at 353 00:19:36,800 --> 00:19:39,040 Speaker 1: the margin. When the last two percent of the buyers 354 00:19:39,080 --> 00:19:41,399 Speaker 1: become sellers, markets change. When the last two percent of 355 00:19:41,480 --> 00:19:45,240 Speaker 1: sellers become buyers, markets change. And there's no question at 356 00:19:45,280 --> 00:19:47,320 Speaker 1: the margin, people are changing the manner in which they're 357 00:19:47,400 --> 00:19:50,080 Speaker 1: using energy. So yes, demand destruction is part of the future. 358 00:19:50,400 --> 00:19:53,800 Speaker 1: Oh he's a pleasure, sir. Accountabist Dennis Gartman, the University 359 00:19:53,840 --> 00:19:57,119 Speaker 1: of acron Endowment Chair and former publisher of the Gartman 360 00:19:57,160 --> 00:20:00,359 Speaker 1: Blender Dow futures up two DRED seventy two four and 361 00:20:00,400 --> 00:20:03,760 Speaker 1: SMP futures there are up thirty points. NaN's day futures 362 00:20:03,760 --> 00:20:08,000 Speaker 1: of fifty four at the Bloomberg weather for today should 363 00:20:08,000 --> 00:20:10,080 Speaker 1: be a nice day. Morning clowns give me away the sunshine. 364 00:20:10,119 --> 00:20:13,119 Speaker 1: The high temperature in the mid fifties. Tomorrow is sunny 365 00:20:13,119 --> 00:20:17,280 Speaker 1: and mild by sixty to sixty five Wednesday sunshine, I 366 00:20:17,400 --> 00:20:24,400 Speaker 1: sneer sixty. This is Bloomberg broadcasting live from the Bloomberg 367 00:20:24,440 --> 00:20:28,920 Speaker 1: Interactive Broker Studio in New York. Bloomberg having freed to Washington, 368 00:20:29,000 --> 00:20:33,120 Speaker 1: d C. Bloomberg to Boston, Bloomberg one oh six one, 369 00:20:33,200 --> 00:20:36,640 Speaker 1: does San Francisco, Bloomberg nine sixty to the country Sirius 370 00:20:36,800 --> 00:20:40,400 Speaker 1: XM Gentle one and around the globe the Bloomberg Business 371 00:20:40,400 --> 00:20:45,480 Speaker 1: apt in Bloomberg Radio dot Com. This is Bloomberg Daybreak. 372 00:20:50,040 --> 00:20:52,200 Speaker 1: It's five thirty on Wall Spreet. Good morning, I'm John 373 00:20:52,240 --> 00:20:55,439 Speaker 1: Tucker and I'm Perard Moscow. We're just about four hours 374 00:20:55,480 --> 00:20:57,520 Speaker 1: away from the open of US trading. Let's get you 375 00:20:57,600 --> 00:20:58,840 Speaker 1: up to date in the news. You need to know 376 00:20:58,920 --> 00:21:00,920 Speaker 1: at this hour, do you not? It states plans to 377 00:21:00,960 --> 00:21:03,800 Speaker 1: hold its first high level in person talks with China 378 00:21:04,119 --> 00:21:07,479 Speaker 1: since Russia's invasion of Ukraine began. It comes as the 379 00:21:07,560 --> 00:21:10,960 Speaker 1: US says Russia has asked China for military equipment to 380 00:21:11,000 --> 00:21:14,919 Speaker 1: support its invasion. Bloomberg said, Bachelor has the story. The 381 00:21:15,000 --> 00:21:18,800 Speaker 1: US says nobody should help replace Russian losses during the invasion. 382 00:21:19,200 --> 00:21:22,720 Speaker 1: National Security Advisor Jake Sullivan heads to Rome today for 383 00:21:22,840 --> 00:21:26,080 Speaker 1: high level talks, which China's top foreign policy official, Young 384 00:21:26,160 --> 00:21:30,880 Speaker 1: Jay Sheer. Meanwhile, Russia has shelled a Ukrainian military base 385 00:21:31,240 --> 00:21:34,680 Speaker 1: ten miles away from the border with Poland, and Sullivan 386 00:21:34,720 --> 00:21:38,959 Speaker 1: says if anything lands in Poland, NATO will respond if 387 00:21:39,000 --> 00:21:41,640 Speaker 1: the United States will work with our allies to defend 388 00:21:41,920 --> 00:21:45,040 Speaker 1: every inch of NATO territory, and he used the term 389 00:21:45,240 --> 00:21:49,480 Speaker 1: full force reaction. In San Francisco, I'm at Baxter Bloomberg 390 00:21:49,520 --> 00:21:53,080 Speaker 1: Gay Break Thanks said. Negotiators from Ukraine and Russia are 391 00:21:53,160 --> 00:21:56,960 Speaker 1: set to speak today. Ukrainian President Vladimir Zelenski hopes it 392 00:21:57,000 --> 00:21:59,919 Speaker 1: will lead to a meeting between himself and Russian President 393 00:22:00,040 --> 00:22:04,240 Speaker 1: Ladimir Putin should then, representatives of our countries are holding 394 00:22:04,280 --> 00:22:07,920 Speaker 1: daily talks via video conference. Our delegation has a clear 395 00:22:07,960 --> 00:22:10,520 Speaker 1: task to do everything to arrange the meeting of the presidents. 396 00:22:10,720 --> 00:22:13,800 Speaker 1: The meeting I'm sure people are waiting for. Vladimir Zelenski 397 00:22:13,880 --> 00:22:17,280 Speaker 1: says a path to talks with Putin is difficult but necessary. 398 00:22:17,640 --> 00:22:20,520 Speaker 1: On Wall Street, John higher interest rates. A commodity crunch 399 00:22:20,560 --> 00:22:23,360 Speaker 1: in the war has one firm cutting at stock targets. 400 00:22:23,520 --> 00:22:25,879 Speaker 1: Once again, we get the latest line from Bloomberg's re 401 00:22:26,000 --> 00:22:28,479 Speaker 1: need a young good morning, Ready down, Good morning, Karen Goldman. 402 00:22:28,560 --> 00:22:32,000 Speaker 1: Sachs strategists are lowering their SNP five hundred target for 403 00:22:32,000 --> 00:22:34,800 Speaker 1: the second time in a month, this time from fort 404 00:22:35,400 --> 00:22:39,399 Speaker 1: d to hundred. The index closed at just above forty 405 00:22:39,440 --> 00:22:43,159 Speaker 1: two hundred on Friday. It comes as the global commodity crunch, 406 00:22:43,240 --> 00:22:46,879 Speaker 1: triggered by Russia's invasion of Ukraine, deepened the slump in 407 00:22:47,000 --> 00:22:50,200 Speaker 1: US stocks last month, Goldman cut its initial year in 408 00:22:50,320 --> 00:22:54,840 Speaker 1: target of points for the SNP five Live in New York, 409 00:22:54,920 --> 00:22:57,840 Speaker 1: I'm rened a young Bloomberg, Debrie, thanks for native looking 410 00:22:57,880 --> 00:23:00,840 Speaker 1: to curb inflation the reserve of spent at the hike 411 00:23:00,920 --> 00:23:04,280 Speaker 1: intust rates of this week's f o MC meeting. Fetchair 412 00:23:04,440 --> 00:23:08,040 Speaker 1: Jerome Powell. Recently it's old lawmakers he'd recommend a quarter 413 00:23:08,119 --> 00:23:13,879 Speaker 1: point rate hike, and doge coin experienced brief agains following 414 00:23:13,880 --> 00:23:16,600 Speaker 1: a tweet from billionaire Elon Musk John, who said he 415 00:23:16,680 --> 00:23:19,680 Speaker 1: isn't planning to sell any of the digital tokens. Bitcoin 416 00:23:19,880 --> 00:23:23,200 Speaker 1: is currently trading at thirty nine thousand and sixty dollars. 417 00:23:23,200 --> 00:23:26,960 Speaker 1: It's up about one percent this morning. Futures are also 418 00:23:27,040 --> 00:23:30,080 Speaker 1: higher this morning. And straight ahead your latest local headlines 419 00:23:30,160 --> 00:23:38,800 Speaker 1: plus a check of sports, and this is Bloomberg. That's 420 00:23:38,800 --> 00:23:41,040 Speaker 1: final thirty three on Wall Street. Time to bring in 421 00:23:41,080 --> 00:23:43,480 Speaker 1: Michael Barr with more of wells is going on to 422 00:23:43,560 --> 00:23:46,720 Speaker 1: New York hand around the world, John, thank you very much. 423 00:23:46,760 --> 00:23:49,480 Speaker 1: Police in New York City are searching for a Suspectona 424 00:23:49,680 --> 00:23:53,639 Speaker 1: Say shot and killed a homeless person and wounded another 425 00:23:53,840 --> 00:23:57,359 Speaker 1: in separate attacks over the weekend. Both victims were sleeping 426 00:23:57,359 --> 00:24:00,080 Speaker 1: when they was shot. New York Mayor Eric Adams not 427 00:24:00,160 --> 00:24:04,600 Speaker 1: committing the crime. I was sleeping on the streets. A 428 00:24:04,760 --> 00:24:09,080 Speaker 1: total abandonment and betrayal of trust for this action to 429 00:24:09,280 --> 00:24:12,560 Speaker 1: have taken place in a manner that it did. Mayor 430 00:24:12,600 --> 00:24:16,119 Speaker 1: Adams announced a city task force would focus on finding 431 00:24:16,119 --> 00:24:19,440 Speaker 1: homeless people in the subways and other locations and urged 432 00:24:19,480 --> 00:24:23,200 Speaker 1: them to take sleep in city owned shelters. North Korea 433 00:24:23,240 --> 00:24:25,720 Speaker 1: could launch an i CBM as soon as this week. 434 00:24:26,080 --> 00:24:30,240 Speaker 1: The Yonhap news agencies sided unidentified South Korean government officials 435 00:24:30,560 --> 00:24:33,840 Speaker 1: it would be its most serious provocation in five years. 436 00:24:34,080 --> 00:24:37,680 Speaker 1: As South Korea undergoes a presidential transition and the world 437 00:24:37,720 --> 00:24:42,320 Speaker 1: focuses on Russia's invasion of Ukraine. Gasoline thefts are on 438 00:24:42,359 --> 00:24:45,240 Speaker 1: the rise. In Houston, for example, police are looking for 439 00:24:45,280 --> 00:24:48,520 Speaker 1: thieves who stole about a thousand gallons of diesel fuel 440 00:24:48,720 --> 00:24:52,000 Speaker 1: from the underground storage tanks of a family owned gas station. 441 00:24:52,480 --> 00:24:57,080 Speaker 1: Station manager Gary Phail says surveillance video recorded the thieves 442 00:24:57,119 --> 00:24:59,040 Speaker 1: pulling up in a van over the lids of the 443 00:24:59,040 --> 00:25:02,480 Speaker 1: station's underground storage tanks. The van drives on top of 444 00:25:02,480 --> 00:25:04,920 Speaker 1: the fuel tank. That's all you see. No one comes out. 445 00:25:05,119 --> 00:25:09,760 Speaker 1: They have a trap door inside their vehicle, which it 446 00:25:09,880 --> 00:25:13,879 Speaker 1: was crazy. Station manager Jerry Thale says the thieves struck 447 00:25:13,920 --> 00:25:16,119 Speaker 1: three times last week and were chased off during a 448 00:25:16,160 --> 00:25:20,000 Speaker 1: fourth robbery attempt. Former President Barack Obama says he has 449 00:25:20,040 --> 00:25:24,600 Speaker 1: tested positive for COVID. Obama says, outside of a scratchy throat, 450 00:25:24,640 --> 00:25:28,520 Speaker 1: he is feeling fine otherwise. Obama says his wife Michelle 451 00:25:28,640 --> 00:25:31,800 Speaker 1: is tested negative and calls on people to get vaccinated. 452 00:25:32,240 --> 00:25:36,000 Speaker 1: Oscar winning actor William Hurt has died as many films 453 00:25:36,000 --> 00:25:39,720 Speaker 1: include Broadcast News and The Big Chill. Herd Son said 454 00:25:39,760 --> 00:25:42,000 Speaker 1: in a statement that his father died of natural causes. 455 00:25:42,040 --> 00:25:45,439 Speaker 1: At a global news twenty four hours a day on 456 00:25:45,520 --> 00:25:48,400 Speaker 1: air and on Bloomberg Quick Tank, powered by more than 457 00:25:48,880 --> 00:25:51,320 Speaker 1: seven hundred journalists and analysts in more than a hundred 458 00:25:51,359 --> 00:25:54,359 Speaker 1: twenty countries. I'm Michael bar this is Bloomberg, John, Michael, 459 00:25:54,400 --> 00:25:59,879 Speaker 1: thank you at least now fine three, he says, So 460 00:26:00,000 --> 00:26:03,200 Speaker 1: walls for Efence, time for Bluebird Sports, saying, here's John 461 00:26:03,280 --> 00:26:05,600 Speaker 1: stan Shower. John. It's not as if Tom Brady is 462 00:26:05,640 --> 00:26:08,280 Speaker 1: the first athlete to change their mind about retirement. Rett 463 00:26:08,320 --> 00:26:10,480 Speaker 1: Farve did it a few times. Several box rooms have 464 00:26:10,520 --> 00:26:13,200 Speaker 1: done it, but usually the retirement lasts a little longer. 465 00:26:13,240 --> 00:26:16,920 Speaker 1: For Brady, a forty day retirement. So much for wanting 466 00:26:16,920 --> 00:26:19,439 Speaker 1: to spend more time at home. He's back with Tampa 467 00:26:19,480 --> 00:26:22,439 Speaker 1: Bay at age forty, coming off statistically one of his 468 00:26:22,480 --> 00:26:25,399 Speaker 1: best seasons. Brady said in a statement, my place is 469 00:26:25,440 --> 00:26:28,200 Speaker 1: on the field, not in the stand. The Yankees did 470 00:26:28,200 --> 00:26:31,000 Speaker 1: not make any moves before the lockout. Now that it's 471 00:26:31,080 --> 00:26:34,760 Speaker 1: over a trade with the Minnesota Twins. They traded Gary Sanchez. 472 00:26:35,080 --> 00:26:37,080 Speaker 1: He made a big splash with his power back in 473 00:26:37,119 --> 00:26:39,520 Speaker 1: two thousand seventeen, but his average fell all the way 474 00:26:39,560 --> 00:26:41,960 Speaker 1: down to one forty seven a couple of years ago. 475 00:26:42,000 --> 00:26:46,000 Speaker 1: Never strong defensively, Geo or Jella was terrific defensively a 476 00:26:46,080 --> 00:26:48,879 Speaker 1: third base, but he was also dealt. In return, Yanks 477 00:26:48,920 --> 00:26:51,960 Speaker 1: get thirty six year old third baseman Josh Donaldson the 478 00:26:52,000 --> 00:26:53,399 Speaker 1: a l m v P, though that was back in 479 00:26:53,480 --> 00:26:55,880 Speaker 1: two thousand and fifteen. He's bounced around in ecent years 480 00:26:55,920 --> 00:26:58,960 Speaker 1: with four different teams. Yanks also acquired twenty six year 481 00:26:58,960 --> 00:27:02,360 Speaker 1: old short stop Isaiah Kiner Filepo, who the Twins had 482 00:27:02,359 --> 00:27:05,280 Speaker 1: just acquired on Saturday from Texas, and they get a 483 00:27:05,280 --> 00:27:08,840 Speaker 1: young catcher, Ben rourkevilt At the Parklay Center, Nets beat 484 00:27:08,880 --> 00:27:11,119 Speaker 1: the next one ten one oh seven. Cabinda Ran scored 485 00:27:11,240 --> 00:27:14,280 Speaker 1: fifty three points and then wondered why Kyrie Irving wasn't 486 00:27:14,280 --> 00:27:18,000 Speaker 1: allowed to play, considering Irving was at the game sitting 487 00:27:18,000 --> 00:27:22,080 Speaker 1: in the stands ridiculous. I don't understand it, oh, I mean, 488 00:27:22,320 --> 00:27:25,439 Speaker 1: as a few people in our arena has owned backs, right, 489 00:27:25,560 --> 00:27:27,960 Speaker 1: They they lifted all of that in our arena, right, 490 00:27:29,040 --> 00:27:31,240 Speaker 1: So it's the I don't get it. Irving's still only 491 00:27:31,240 --> 00:27:33,919 Speaker 1: playing road games. Islanders into their six game homestand with 492 00:27:33,960 --> 00:27:36,159 Speaker 1: a third straight win, fourth three over Anaheim n ci 493 00:27:36,280 --> 00:27:38,520 Speaker 1: A tournament field and as Rutgers got in, has to 494 00:27:38,520 --> 00:27:41,320 Speaker 1: play a first four game Wednesday against Notre Dame. John 495 00:27:41,359 --> 00:27:44,360 Speaker 1: Stashwer Bloomberg Sports. John. All Right, John, thanks very much, 496 00:27:44,359 --> 00:27:46,960 Speaker 1: fine thirty settling on Wall Street, It's time for the 497 00:27:47,000 --> 00:27:49,479 Speaker 1: Try and State Business Report. For that, We're joined by 498 00:27:49,600 --> 00:27:52,840 Speaker 1: Bloomberg's Scott Carr. New Jersey is set to receive six 499 00:27:52,960 --> 00:27:55,600 Speaker 1: hundred forty one million dollars out of an opioid k 500 00:27:55,760 --> 00:27:58,879 Speaker 1: settlement with New Brunswick based Johnson and Johnson and the 501 00:27:58,960 --> 00:28:03,200 Speaker 1: nation's three biggest pharmaceutical distributors, McKesson, Cardinal Health, and Amera 502 00:28:03,280 --> 00:28:06,160 Speaker 1: source Bergen. A statement from Governor Phil Murphy's office says 503 00:28:06,160 --> 00:28:09,680 Speaker 1: the settlement will be paid through and will fund programs 504 00:28:09,720 --> 00:28:12,480 Speaker 1: focused on treatment, prevention, and other ways to combat the 505 00:28:12,480 --> 00:28:16,040 Speaker 1: epidemic in the state. A yearly analysis of Connecticut's jobs 506 00:28:16,119 --> 00:28:18,800 Speaker 1: data shows the state drop it's unemployment rate to five 507 00:28:18,840 --> 00:28:21,240 Speaker 1: point one percent at the end of last year, before 508 00:28:21,240 --> 00:28:24,040 Speaker 1: oh Macrown related job losses pushed that figure up to 509 00:28:24,080 --> 00:28:27,280 Speaker 1: five point three percent in January. Both figures are below 510 00:28:27,280 --> 00:28:29,960 Speaker 1: the five point eight percent mark that analysts had previously 511 00:28:30,040 --> 00:28:33,040 Speaker 1: expected in December of last year. They say that indicates 512 00:28:33,040 --> 00:28:37,120 Speaker 1: a comeback for Connecticut from the COVID lockdowns, though gradual 513 00:28:37,200 --> 00:28:40,240 Speaker 1: may be stronger than expected. David Busters will open a 514 00:28:40,280 --> 00:28:43,360 Speaker 1: second location in Brooklyn next month. It's set to open April. 515 00:28:44,320 --> 00:28:47,680 Speaker 1: That's the Bloomberg Tri State Business Report. I'm Scott Carr. 516 00:28:47,960 --> 00:28:51,600 Speaker 1: Thanks Scott. It is now eight on Wall Street. Bloomberg 517 00:28:51,720 --> 00:28:54,200 Speaker 1: Radio is on the air from San Francisco to New York, 518 00:28:54,280 --> 00:28:57,040 Speaker 1: London to Hong Kong. And let's check in now with 519 00:28:57,120 --> 00:28:59,280 Speaker 1: our global news team for some of the top stories 520 00:28:59,320 --> 00:29:03,600 Speaker 1: heard on our three hundred affiliate radio stations around the world. 521 00:29:06,800 --> 00:29:09,920 Speaker 1: I'm Steve Podascan on ten ten Wins in New York. 522 00:29:09,960 --> 00:29:14,200 Speaker 1: We're talking about the financial worry of America's high school students. 523 00:29:14,880 --> 00:29:18,400 Speaker 1: Um Courtney's Donahoe on Carol Dan Dallas. Some travel industry 524 00:29:18,400 --> 00:29:21,320 Speaker 1: executives are expecting one of the best summer seasons ever. 525 00:29:21,800 --> 00:29:24,880 Speaker 1: I'm Gina Servettian for w w b D. I'm in Chicago. 526 00:29:25,040 --> 00:29:28,840 Speaker 1: I'm reporting that for McDonald's, continuing to pay workers in Russia, 527 00:29:28,880 --> 00:29:31,520 Speaker 1: along with other costs, will add up to about fifty 528 00:29:31,600 --> 00:29:34,160 Speaker 1: million a month. I'm Caroline head Killed bloom Bag d 529 00:29:34,200 --> 00:29:36,440 Speaker 1: A b Dishal Radium in London. Were punting on the 530 00:29:36,560 --> 00:29:41,080 Speaker 1: UK's refugee responts, the government's scraps in person visa applications 531 00:29:41,440 --> 00:29:45,920 Speaker 1: and offers households cash to house refugees. I'm Scott Carr 532 00:29:45,920 --> 00:29:48,720 Speaker 1: on w d c H in Washington. I'm reporting on 533 00:29:48,840 --> 00:29:51,920 Speaker 1: Beltway businesses getting a boost from the war in Ukraine, 534 00:29:54,160 --> 00:29:56,360 Speaker 1: and those are some of the stories. Are twenty seven 535 00:29:56,440 --> 00:29:59,200 Speaker 1: hundred Bloomberg journalists and analysts are working on this morning 536 00:29:59,520 --> 00:30:02,920 Speaker 1: around the world. It's five thirty nine on Wall Street. 537 00:30:03,360 --> 00:30:07,000 Speaker 1: The following is an editorial from Bloomberg Opinion. In a 538 00:30:07,040 --> 00:30:10,160 Speaker 1: bid to ease pressure on global energy supplies, the US 539 00:30:10,280 --> 00:30:13,600 Speaker 1: is open talks with the government of Venezuelan leader Nicholas Maduro, 540 00:30:13,960 --> 00:30:16,800 Speaker 1: which could lead to the lifting of some sanctions against 541 00:30:16,800 --> 00:30:19,240 Speaker 1: his regime. Such an outcome would be a blow to 542 00:30:19,360 --> 00:30:23,400 Speaker 1: Venezuela's opposition and its desire to see Madua removed from power, 543 00:30:23,800 --> 00:30:27,600 Speaker 1: the US should move forward anyway. Re Establishing diplomatic ties 544 00:30:27,640 --> 00:30:31,360 Speaker 1: with Venezuela is a necessary step toward harnessing its immense 545 00:30:31,520 --> 00:30:35,160 Speaker 1: energy producing potential. It could also drive a wedge between 546 00:30:35,280 --> 00:30:39,560 Speaker 1: Venezuela and its chief patron Russia. Austin Maduro was a 547 00:30:39,640 --> 00:30:43,880 Speaker 1: defensible goal, but the strategic environment has changed. Biden should 548 00:30:43,880 --> 00:30:47,200 Speaker 1: aim for a policy that balances economic and security needs 549 00:30:47,440 --> 00:30:50,680 Speaker 1: with a commitment to democratic values and provide a path 550 00:30:50,760 --> 00:30:54,520 Speaker 1: to a more productive relationship with Venezuela and its long 551 00:30:54,560 --> 00:30:57,760 Speaker 1: suffering people. This editorial was written by the Bloomberg Opinion 552 00:30:57,920 --> 00:31:01,440 Speaker 1: editorial board. I'm David Shipley. For more Bloomberg Opinion, please 553 00:31:01,440 --> 00:31:04,400 Speaker 1: go to Bloomberg dot com, slash opinion or ope and 554 00:31:04,480 --> 00:31:08,320 Speaker 1: go on the Bloomberg terminal. This has been Bloomberg Opinion. 555 00:31:08,600 --> 00:31:12,200 Speaker 1: Bloomberg Opinion editorials can be heard every weekday. At this time, 556 00:31:12,280 --> 00:31:15,960 Speaker 1: terminal customers could read more at op I n go. 557 00:31:16,680 --> 00:31:22,080 Speaker 1: This is Bloomberg day break and ahead of the cash 558 00:31:22,120 --> 00:31:24,800 Speaker 1: open up, Wall Street futures in the US pointed to 559 00:31:24,840 --> 00:31:28,120 Speaker 1: a higher open down futures of three hundred six points 560 00:31:28,440 --> 00:31:31,480 Speaker 1: S and P futures of thirty five and the landsdeckum 561 00:31:31,520 --> 00:31:37,800 Speaker 1: made futures seventy five points higher. This is Bloomberg Markets 562 00:31:37,880 --> 00:31:40,960 Speaker 1: headlines and breaking news twenty four hours a day, at 563 00:31:40,960 --> 00:31:44,360 Speaker 1: Bloomberg dot Com, the Bloomberg Business Out, and at Bloomberg 564 00:31:44,440 --> 00:31:53,680 Speaker 1: Quick Tape. This is a Bloomberg Business lash and I'm 565 00:31:53,720 --> 00:31:56,760 Speaker 1: Karen Moscow. Stocks in Europe are climbing along with US 566 00:31:56,760 --> 00:32:00,200 Speaker 1: stock index futures as negotiators from Russia and you and 567 00:32:00,280 --> 00:32:02,880 Speaker 1: prepare for a new round of talks on global bond 568 00:32:02,960 --> 00:32:05,360 Speaker 1: route deepens, with the eels on the five and ten 569 00:32:05,440 --> 00:32:08,800 Speaker 1: year treasury rising to their highest since twenty nineteen. We 570 00:32:08,880 --> 00:32:11,360 Speaker 1: check the markets every fifteen minutes throughout the trading day. 571 00:32:11,440 --> 00:32:14,360 Speaker 1: On Bloomberg SNP future is up thirty nine points down, 572 00:32:14,440 --> 00:32:18,280 Speaker 1: futures up three hundred thirty seven. Nsday features up ninety six. 573 00:32:18,360 --> 00:32:21,360 Speaker 1: The decks in Germany is up three point one percent, 574 00:32:21,800 --> 00:32:24,320 Speaker 1: ten year Treasury down twenty nine thirty seconds, the yel 575 00:32:24,400 --> 00:32:26,520 Speaker 1: two point o nine percent. They yield on the two 576 00:32:26,640 --> 00:32:29,920 Speaker 1: year one point eight zero percent. Non mex screude oil 577 00:32:30,040 --> 00:32:31,880 Speaker 1: is down more than four and a half percent, down 578 00:32:31,920 --> 00:32:34,320 Speaker 1: five dollars three cents at a hundred four dollars twenty 579 00:32:34,320 --> 00:32:37,080 Speaker 1: four cents of barrel. Comex school is down one percent, 580 00:32:37,160 --> 00:32:40,480 Speaker 1: or nineteen dollars fifty cents at nineteen sixty five fifty announced. 581 00:32:40,800 --> 00:32:43,440 Speaker 1: The euro one point o nine seven four against the dollar. 582 00:32:43,520 --> 00:32:46,280 Speaker 1: British found one point three zero five two. The yun 583 00:32:46,360 --> 00:32:49,920 Speaker 1: is at one seventeen point eight three Bitcoin higher by 584 00:32:49,960 --> 00:32:52,280 Speaker 1: one point two percent. It's at thirty nine thousand, one 585 00:32:52,320 --> 00:32:55,480 Speaker 1: hundred thirty dollars. That's a Bloomberg business flash. Now here's 586 00:32:55,520 --> 00:32:58,000 Speaker 1: Michael Barr with more on what's going on around the world. 587 00:32:58,040 --> 00:33:01,120 Speaker 1: Michael Karen, thank you very much. US officials say Russia 588 00:33:01,200 --> 00:33:05,320 Speaker 1: has asked China for military assistance for its war in Ukraine. 589 00:33:05,640 --> 00:33:09,240 Speaker 1: A spokesman for China's Foreign ministry rejected the reports today 590 00:33:09,720 --> 00:33:14,640 Speaker 1: as disinformation and malicious. NFL superstar Tom Brady announced that 591 00:33:14,680 --> 00:33:18,360 Speaker 1: his short lived retirement is over. Brady says he will 592 00:33:18,360 --> 00:33:21,640 Speaker 1: return for the twenty third season with the Tampa Bay Buccaneers. 593 00:33:21,880 --> 00:33:24,680 Speaker 1: And in baseball, a big trade for the Yankees. The 594 00:33:24,680 --> 00:33:27,680 Speaker 1: New York Yankees have acquired former a l m v P. 595 00:33:28,040 --> 00:33:33,480 Speaker 1: Josh Donaldson, shortstop Isaiah Kinner Felefa, and backup catcher Ben 596 00:33:33,560 --> 00:33:37,840 Speaker 1: Roortveldt from the Minnesota, twins for catcher Gary Sanchez and 597 00:33:37,880 --> 00:33:41,520 Speaker 1: third baseman Geo Ershlin. Global News twenty four hours a 598 00:33:41,640 --> 00:33:44,560 Speaker 1: day on air and on Bloomberg Quickday, powered by more 599 00:33:44,600 --> 00:33:47,400 Speaker 1: than twenty seven hundred journalists an antalists in more than 600 00:33:47,840 --> 00:33:51,160 Speaker 1: twenty countries. Michael bar this is Bloomberg, John, Michael, thank 601 00:33:51,160 --> 00:33:53,440 Speaker 1: you very much. Fine forty nine on Wall Street. Were 602 00:33:53,480 --> 00:33:56,480 Speaker 1: lying for the Bloomberg Interact Brokers Studios a time for 603 00:33:56,520 --> 00:33:58,760 Speaker 1: an update on the war in Ukraine. Were joined out 604 00:33:58,800 --> 00:34:04,320 Speaker 1: by Mark Champion, Bloomberg Senior reporter for International Affairs. Mark, 605 00:34:04,360 --> 00:34:07,120 Speaker 1: you just heard Michael mentioned that US officials say Russia 606 00:34:07,280 --> 00:34:10,800 Speaker 1: has asked SHNA for military assistance for its war in Ukraine. 607 00:34:11,239 --> 00:34:18,520 Speaker 1: How likely is that? Mark Champion? Can you hear us? 608 00:34:23,440 --> 00:34:26,560 Speaker 1: All right? As we try to re establish contact with 609 00:34:26,680 --> 00:34:31,520 Speaker 1: our Bloomberg senior reporter for International Affairs, Mark Champion, Karen, 610 00:34:31,520 --> 00:34:33,879 Speaker 1: we're going to head over to you for the time being. 611 00:34:34,360 --> 00:34:37,359 Speaker 1: All Right, it is five forty nine on Wall Street. John, 612 00:34:37,400 --> 00:34:39,680 Speaker 1: it is time for the Bloomberg Law Report. It has 613 00:34:39,719 --> 00:34:43,200 Speaker 1: brought to you by American Arbitration Association. This is his 614 00:34:43,280 --> 00:34:47,400 Speaker 1: future inevitable resolve faster with the American Arbitration Association, the 615 00:34:47,440 --> 00:34:50,840 Speaker 1: global leader in alternative dispute resolution for over ninety years. 616 00:34:50,920 --> 00:34:53,239 Speaker 1: More at a d R dot org. Let's get to 617 00:34:53,280 --> 00:34:57,000 Speaker 1: the legal stories we're watching this morning. From Bloomberg's Jeff Bellinger, 618 00:34:58,080 --> 00:35:02,600 Speaker 1: Maxwell's lawyers argue that they didn't have the ability to quit. 619 00:35:08,320 --> 00:35:11,480 Speaker 1: Millions of Americans living in states that don't adjust their 620 00:35:11,520 --> 00:35:15,360 Speaker 1: tax brackets to account for surging inflation are facing hidden 621 00:35:15,440 --> 00:35:19,440 Speaker 1: tax increases in their paychecks. Florida will leave the nation 622 00:35:19,520 --> 00:35:22,880 Speaker 1: in sales tax holidays. Lawmakers plan to vote today to 623 00:35:23,000 --> 00:35:27,120 Speaker 1: waive state levies on gasoline and a range of consumer products. 624 00:35:27,480 --> 00:35:31,319 Speaker 1: The Texas Supreme Court agreed to review whether state universities 625 00:35:31,520 --> 00:35:35,320 Speaker 1: have the power to revoke degrees of former students long 626 00:35:35,360 --> 00:35:39,920 Speaker 1: after the students have left the institutions. Bloomberg Law everything 627 00:35:39,960 --> 00:35:44,080 Speaker 1: you need, all on one legal research platform, including guidance 628 00:35:44,120 --> 00:35:48,400 Speaker 1: analysis and Bloomberg Market Intelligence. Find out more at Bloomberg 629 00:35:48,480 --> 00:35:51,400 Speaker 1: Law dot com. Right, Jeff, thank you. Now. Another legal 630 00:35:51,520 --> 00:35:55,360 Speaker 1: story we're watching. Lane Maxwell's lawyers are asking the trial 631 00:35:55,440 --> 00:35:58,160 Speaker 1: judge to throw out the verdict against her for sex 632 00:35:58,200 --> 00:36:01,400 Speaker 1: trafficking underage girls with Jeff re Epstein. They want a 633 00:36:01,440 --> 00:36:04,320 Speaker 1: new trial because a juror did not disclose a history 634 00:36:04,360 --> 00:36:08,239 Speaker 1: of childhood's sexual abuse during jury selection, but then, in 635 00:36:08,239 --> 00:36:11,399 Speaker 1: interviews after the verdict, said that he had used his 636 00:36:11,400 --> 00:36:15,000 Speaker 1: history to convince fellow jurors to convict Maxwell. The juror 637 00:36:15,080 --> 00:36:18,520 Speaker 1: denied lying intentionally when he testified at a hearing last week. 638 00:36:18,760 --> 00:36:22,680 Speaker 1: For more, Bloomberg's Juan Grosso speaks to former federal prosecutor 639 00:36:22,840 --> 00:36:28,560 Speaker 1: Jessica Roth, a professor at Cardozo Law School. Maxwell's lawyers 640 00:36:28,800 --> 00:36:32,200 Speaker 1: argue that they didn't have the ability to question him 641 00:36:32,200 --> 00:36:35,640 Speaker 1: about possible bias, and that they would have tried to 642 00:36:35,640 --> 00:36:38,239 Speaker 1: get him dismissed. So, no matter if he did it 643 00:36:38,560 --> 00:36:43,160 Speaker 1: unintentionally or intentionally, isn't this the kind of juror that 644 00:36:43,200 --> 00:36:47,480 Speaker 1: the defense should get a chance to knock off the jury? Well, 645 00:36:47,600 --> 00:36:50,560 Speaker 1: if he had answered yet to these questions that disclosed 646 00:36:50,600 --> 00:36:55,480 Speaker 1: his relevant own history of sexual abuse, there would have 647 00:36:55,560 --> 00:36:58,480 Speaker 1: been follow up questions for him, as there were for 648 00:36:58,600 --> 00:37:02,719 Speaker 1: other perspective jurs who disclosed that they had also been 649 00:37:02,920 --> 00:37:07,759 Speaker 1: the victims of sexual abuse. There were other such prospective jurors, 650 00:37:07,800 --> 00:37:10,400 Speaker 1: and when they disclosed that information, they were asked additional 651 00:37:10,480 --> 00:37:12,920 Speaker 1: questions to inquire into whether they could be fair and 652 00:37:12,960 --> 00:37:15,520 Speaker 1: impartial jurors in the case, the court would also have 653 00:37:15,600 --> 00:37:18,480 Speaker 1: to decide whether or not he could have nevertheless have 654 00:37:18,560 --> 00:37:21,600 Speaker 1: been a fair and impartial juror. And that was the 655 00:37:21,680 --> 00:37:24,160 Speaker 1: kind of information that court was trying to elicit at 656 00:37:24,200 --> 00:37:26,400 Speaker 1: the hearing, which was essentially to ask the follow up 657 00:37:26,480 --> 00:37:28,719 Speaker 1: questions and to try to get at the very same 658 00:37:28,760 --> 00:37:31,040 Speaker 1: inquiry the court would have been engaged in during the 659 00:37:31,120 --> 00:37:35,120 Speaker 1: vodiar process had he answered the questions in the affirmative 660 00:37:35,200 --> 00:37:39,080 Speaker 1: the first time around. Does the judge consider the fact 661 00:37:39,120 --> 00:37:42,920 Speaker 1: that the victims would have to testify again and the 662 00:37:43,040 --> 00:37:47,200 Speaker 1: length of time it took to try maxwell are those considerations. 663 00:37:47,480 --> 00:37:51,279 Speaker 1: They're not considerations in an immediate sense. They're not part 664 00:37:51,280 --> 00:37:53,840 Speaker 1: of the legal standard that the court is going to 665 00:37:53,880 --> 00:37:57,200 Speaker 1: be applying here, which is much more specific to whether 666 00:37:57,280 --> 00:37:59,560 Speaker 1: or not the juror was fair and impartial. But in 667 00:37:59,600 --> 00:38:04,799 Speaker 1: a sense, considerations about the impact on witnesses and concerns 668 00:38:04,880 --> 00:38:09,319 Speaker 1: about finality are essentially baked into the overall standards that 669 00:38:09,360 --> 00:38:12,960 Speaker 1: courts apply when considering motions for a new trial. Motions 670 00:38:13,000 --> 00:38:15,799 Speaker 1: for a new trial are disavored in part because of 671 00:38:15,840 --> 00:38:19,239 Speaker 1: the disruption to victims lives and witnesses lives, the idea 672 00:38:19,280 --> 00:38:21,760 Speaker 1: that they would have to testify again, And so courts 673 00:38:21,760 --> 00:38:24,920 Speaker 1: are instructed generally under the standards governing emotions for a 674 00:38:24,920 --> 00:38:27,120 Speaker 1: new trial that they should only be green when there's 675 00:38:27,200 --> 00:38:32,080 Speaker 1: senily manifest injustice. Would you be surprised if the judge 676 00:38:32,120 --> 00:38:35,560 Speaker 1: granted a new trial? It happened so rarely. It does 677 00:38:35,640 --> 00:38:38,160 Speaker 1: happen so rarely. I think a lot is going to 678 00:38:38,280 --> 00:38:42,440 Speaker 1: turn on the judges evaluation of the witness's credibility in 679 00:38:42,560 --> 00:38:46,200 Speaker 1: answering these questions about why he did not give statements 680 00:38:46,400 --> 00:38:49,440 Speaker 1: that were true, Because whether it's dispositive or not, whether 681 00:38:49,560 --> 00:38:52,759 Speaker 1: or not he's intentionally lied, it's certainly going to be 682 00:38:52,800 --> 00:38:55,720 Speaker 1: a very heavy factor. If the court finds that he lied, 683 00:38:56,200 --> 00:38:58,920 Speaker 1: that would tend to suggest more a motivation on his 684 00:38:59,000 --> 00:39:00,880 Speaker 1: part to try to get on the jury, and that 685 00:39:00,960 --> 00:39:04,319 Speaker 1: in turn suggest more of a bias towards the defendants, 686 00:39:04,440 --> 00:39:06,880 Speaker 1: and therefore that he would not have been fair and impartial. 687 00:39:07,360 --> 00:39:10,080 Speaker 1: And as Jessica Roth, the professor at Cardoza Law Schools, 688 00:39:10,040 --> 00:39:12,239 Speaker 1: speaking at the Bloomberg's Ding Groans and you can catch 689 00:39:12,280 --> 00:39:14,560 Speaker 1: more of that interview plus analysis of the latest legal 690 00:39:14,600 --> 00:39:17,000 Speaker 1: news by listening to the Bloomberg Law Show at ten 691 00:39:17,040 --> 00:39:21,360 Speaker 1: pm Eastern time. John. Thanks Karen Head. We've established contact 692 00:39:21,440 --> 00:39:25,080 Speaker 1: with our Mark Champion Bloomberg, senior reporter for international affairs. 693 00:39:25,640 --> 00:39:29,080 Speaker 1: Sorry for the disconnect a little earlier, and uh an 694 00:39:29,120 --> 00:39:31,480 Speaker 1: update on the war in Ukraine, Mark A good morning. 695 00:39:31,560 --> 00:39:34,680 Speaker 1: US officials say Russia has asked China for military assistance. 696 00:39:35,239 --> 00:39:38,280 Speaker 1: How likely is that and does it also risk sanctions 697 00:39:38,320 --> 00:39:44,480 Speaker 1: on China? Uh? Yes, the Chinese have denied it. The 698 00:39:44,560 --> 00:39:49,000 Speaker 1: partnership that they have with Russia is in part military. 699 00:39:49,920 --> 00:39:53,560 Speaker 1: China has brought a lot of equipment from Russia Russian 700 00:39:54,200 --> 00:39:57,760 Speaker 1: you know, less in the other direction. Um. And also 701 00:39:57,800 --> 00:40:01,160 Speaker 1: they've conducted military exercises together. So it would not be 702 00:40:01,239 --> 00:40:04,280 Speaker 1: a huge surprise at all if Russia were to ask 703 00:40:04,400 --> 00:40:08,080 Speaker 1: if they were having any issues with supplies of missiles 704 00:40:08,080 --> 00:40:13,239 Speaker 1: for example, which you know there is some uh, you 705 00:40:13,239 --> 00:40:16,760 Speaker 1: know reports that they may have used fewer precision guided 706 00:40:16,760 --> 00:40:19,719 Speaker 1: missiles because they just don't have enough of them in stock. Um. 707 00:40:19,840 --> 00:40:22,040 Speaker 1: So it wouldn't be too surprising if they were to 708 00:40:22,120 --> 00:40:25,880 Speaker 1: try and get the plenishments. Um. You know, whether that 709 00:40:26,000 --> 00:40:29,640 Speaker 1: has happened or not is hard to say. Um. You know, 710 00:40:29,680 --> 00:40:32,439 Speaker 1: the Chinese would have to bear in mind that it's 711 00:40:32,480 --> 00:40:35,239 Speaker 1: likely that anything that they do supply would eventually show 712 00:40:35,320 --> 00:40:37,640 Speaker 1: up on the battlefield, so it will become clear. It 713 00:40:37,719 --> 00:40:41,040 Speaker 1: does it to indicate some level of desperation, if that's 714 00:40:41,040 --> 00:40:44,640 Speaker 1: the word on the part of the Russian military. Well, 715 00:40:44,680 --> 00:40:47,359 Speaker 1: they do seem to have had some logistics issues, and 716 00:40:47,400 --> 00:40:52,600 Speaker 1: they've had some you know, issues with with munitions. Apparently 717 00:40:52,800 --> 00:40:54,919 Speaker 1: at least they haven't used as many as people would 718 00:40:54,960 --> 00:40:57,960 Speaker 1: have expected them to use. Um, So I'm not sure 719 00:40:58,000 --> 00:41:00,760 Speaker 1: if the word is desperation, but they do have issues. 720 00:41:00,840 --> 00:41:04,920 Speaker 1: They having to sort of call up mercenaries from Syria 721 00:41:05,120 --> 00:41:08,920 Speaker 1: in order to replenish their troops. Clearly, this campaign has 722 00:41:08,960 --> 00:41:10,839 Speaker 1: not gone the way that they expected it to go, 723 00:41:11,080 --> 00:41:14,400 Speaker 1: and any in a minute military analysts will tell you 724 00:41:14,440 --> 00:41:17,560 Speaker 1: that in three or weeks or four weeks into any 725 00:41:17,560 --> 00:41:21,360 Speaker 1: military campaign, a major replenishment is needed, both of troops 726 00:41:21,400 --> 00:41:25,200 Speaker 1: and equipment that starts to break down, equipment that's destroyed 727 00:41:25,200 --> 00:41:28,520 Speaker 1: and so on. Just about forty five seconds left the 728 00:41:28,600 --> 00:41:31,920 Speaker 1: US and China plan to hold in person talks. I 729 00:41:31,920 --> 00:41:34,440 Speaker 1: think that's in wrong. Can you tell us more on 730 00:41:34,480 --> 00:41:39,400 Speaker 1: what's going to happen with that? Uh, Well, the Americans 731 00:41:39,440 --> 00:41:41,239 Speaker 1: have made it clear that they're gonna say to the 732 00:41:41,320 --> 00:41:44,040 Speaker 1: Chinese that there will be sitting in a serious repercussions 733 00:41:44,120 --> 00:41:47,759 Speaker 1: if the Chinese provide either weapons or work around so 734 00:41:47,800 --> 00:41:50,200 Speaker 1: that they can help the Russians to escape sanctions. So 735 00:41:50,400 --> 00:41:53,160 Speaker 1: and that that will be the pressure from the the 736 00:41:53,200 --> 00:41:56,040 Speaker 1: American side. The Chinese have tried to show themselves as 737 00:41:56,080 --> 00:41:58,920 Speaker 1: neutral in the conflict, but you know, on the other 738 00:41:58,960 --> 00:42:02,360 Speaker 1: hand they have back the Russian narrative, in particular meanchemical weapons. 739 00:42:03,239 --> 00:42:06,160 Speaker 1: Mark Ho is a pleasure, appreciate it to Mark Champion Bloomberg, 740 00:42:06,200 --> 00:42:10,120 Speaker 1: Senior reporter for International Affairs with the update there on 741 00:42:10,239 --> 00:42:13,560 Speaker 1: the latest on the war in Ukraine. Ahead of a 742 00:42:13,680 --> 00:42:16,080 Speaker 1: cash open on Wall Street this morning, we have futures 743 00:42:16,200 --> 00:42:19,160 Speaker 1: in the US. They are higher, with the down futures 744 00:42:19,200 --> 00:42:21,440 Speaker 1: of three D ninety seven points, the Ryans at one 745 00:42:21,480 --> 00:42:25,680 Speaker 1: point two percent, smp E Mini futures forty seven points higher, 746 00:42:25,719 --> 00:42:28,520 Speaker 1: up one point one percent, and the Techa A Nastac 747 00:42:28,600 --> 00:42:31,520 Speaker 1: futures right now up one D thirty one points, that 748 00:42:31,760 --> 00:42:35,120 Speaker 1: is a rise of one percent. Tenure yield in the 749 00:42:35,200 --> 00:42:38,880 Speaker 1: US two point zero nine percent, that's up ten basis 750 00:42:38,880 --> 00:42:41,799 Speaker 1: points this morning. The two year at one point eight 751 00:42:41,840 --> 00:42:46,000 Speaker 1: one percent. That's up six basis points. You're listening the 752 00:42:46,040 --> 00:42:46,959 Speaker 1: Bloomberg day Break