1 00:00:02,160 --> 00:00:05,720 Speaker 1: By from the Bloomberg Interactive Burgers Studios is Bloomberg day 2 00:00:05,720 --> 00:00:09,440 Speaker 1: Break for Tuesday, February eight two. Coming up this hour, 3 00:00:09,800 --> 00:00:13,920 Speaker 1: bonds fall and tenure Treasury yields approach two percent. In video, 4 00:00:13,960 --> 00:00:17,639 Speaker 1: abandons its proposed fourty billion dollar purchase of arm. President 5 00:00:17,720 --> 00:00:20,439 Speaker 1: Biden says the North Stream to pipeline will be stopped 6 00:00:20,440 --> 00:00:23,360 Speaker 1: if Russia invades you. Praying and governors in the Northeast 7 00:00:23,440 --> 00:00:27,320 Speaker 1: Lake plans to discontinue masks and schools. Crime continues to 8 00:00:27,400 --> 00:00:30,280 Speaker 1: surge in New York City. Plus, the top science advisor 9 00:00:30,360 --> 00:00:33,800 Speaker 1: to President Biden resigns after bullying his staff. I'd like 10 00:00:33,880 --> 00:00:36,680 Speaker 1: a block more ahead, I'm John stashed out in swards. 11 00:00:36,720 --> 00:00:39,400 Speaker 1: Some other laws from the Floundering Knicks. The Devil's Lost 12 00:00:39,400 --> 00:00:45,040 Speaker 1: Olympic Women's hockey Canada beat the US. That's all straight 13 00:00:45,040 --> 00:00:49,240 Speaker 1: ahead on Bloomberg day Break on Bloomberg eleven Trio, New York, 14 00:00:49,400 --> 00:00:54,120 Speaker 1: Bloomberg Washington, d C, Bloomberg one O six one, Boston, 15 00:00:54,280 --> 00:00:59,120 Speaker 1: Bloomberg nine sixties, San Francisco, Syrius XM one nine Team 16 00:00:59,160 --> 00:01:01,880 Speaker 1: and around the world Old on Bloomberg Radio dot Com 17 00:01:02,000 --> 00:01:08,600 Speaker 1: and via The Bloomberg Business. Good Morning, I'm Nathan Hagar 18 00:01:08,959 --> 00:01:11,920 Speaker 1: and I'm Karen Moscow. US futures and bond yields are 19 00:01:12,040 --> 00:01:14,160 Speaker 1: rising this morning. We're coming up to six o one 20 00:01:14,200 --> 00:01:16,119 Speaker 1: on Wall Street, and we checked the markets every fifteen 21 00:01:16,120 --> 00:01:18,360 Speaker 1: minutes throughout the trading day. On Bloomberg, U S and 22 00:01:18,400 --> 00:01:20,920 Speaker 1: P future is up about five points now, futures up 23 00:01:20,959 --> 00:01:24,440 Speaker 1: fifty five, NASDACK futures up about eight and the tenure 24 00:01:24,480 --> 00:01:27,520 Speaker 1: Treasury down four thirties seconds yield one point nine three percent, 25 00:01:27,600 --> 00:01:31,320 Speaker 1: yield on the two year one point three one percent. Nathan, Karen, 26 00:01:31,400 --> 00:01:33,920 Speaker 1: let's begin with the bond market. Yields, as you mentioned, 27 00:01:33,920 --> 00:01:36,800 Speaker 1: are rising with the tenure approaching two percent, and that 28 00:01:36,880 --> 00:01:40,199 Speaker 1: has some predicting levels as high as three percent by years, 29 00:01:40,240 --> 00:01:43,360 Speaker 1: and Janet Movie and Bruin Dolphin Investment says we may 30 00:01:43,400 --> 00:01:45,920 Speaker 1: soon see a buying opportunity. Would you think that there's 31 00:01:45,920 --> 00:01:49,560 Speaker 1: still lots of appetite for US treasuries. I think if 32 00:01:49,600 --> 00:01:52,320 Speaker 1: bonds were to move to two and a half percent, say, 33 00:01:52,360 --> 00:01:54,440 Speaker 1: I think there would be much more interest. We may 34 00:01:54,480 --> 00:01:56,960 Speaker 1: get there, but I do think that three percent since 35 00:01:57,000 --> 00:02:00,600 Speaker 1: a bit far. Bruin Dolphins Shannon Movie say treasuries are 36 00:02:00,640 --> 00:02:04,720 Speaker 1: reaching levels that could soon entice institutional investors and corporate news. 37 00:02:04,720 --> 00:02:07,640 Speaker 1: This morning, Nathan SoftBank said it's planning an I p 38 00:02:07,760 --> 00:02:10,440 Speaker 1: O for ARM. The move comes after A Video abandoned 39 00:02:10,480 --> 00:02:13,040 Speaker 1: a proposed acquisition of the chip designer. We get more 40 00:02:13,160 --> 00:02:16,639 Speaker 1: from Bloomberg's Peter Elstrom in Tokyo, and Video had run 41 00:02:16,639 --> 00:02:20,400 Speaker 1: into many regulatory headwinds as it was trying to purchase 42 00:02:20,480 --> 00:02:24,240 Speaker 1: the chip designer ARM. The UK had pushed back the 43 00:02:24,360 --> 00:02:26,960 Speaker 1: U S regulators had said that they would oppose the 44 00:02:27,000 --> 00:02:30,800 Speaker 1: deal also, and many customers had voiced opposition to the deal. 45 00:02:31,080 --> 00:02:34,480 Speaker 1: Bloomberg's Peter Elstrom says a video originally announced the forty 46 00:02:34,480 --> 00:02:38,440 Speaker 1: billion dollar acquisition of ARM back in September. Now Arms 47 00:02:38,480 --> 00:02:41,200 Speaker 1: headed for an I p O by March of next year. 48 00:02:41,320 --> 00:02:43,920 Speaker 1: Al Right, turning to earnings now, Karen Shares of BPR 49 00:02:44,040 --> 00:02:46,800 Speaker 1: up one per cent in London, the company reported its 50 00:02:46,880 --> 00:02:49,560 Speaker 1: highest profit in almost a decade thanks to surging oil 51 00:02:49,600 --> 00:02:52,560 Speaker 1: and gas prices. We spoke with BP CEO Bernard Looney. 52 00:02:52,639 --> 00:02:55,520 Speaker 1: What I will say is that demand astro U and 53 00:02:55,560 --> 00:03:02,360 Speaker 1: you can easily see a further tight market throughout this year. 54 00:03:02,639 --> 00:03:05,760 Speaker 1: But more than anything, I think we should expect some volatility. 55 00:03:05,960 --> 00:03:08,840 Speaker 1: BP CEO Bernard Looney says the company's hosting its shared 56 00:03:08,840 --> 00:03:11,760 Speaker 1: by Back program. It's also promising to accelerate a transition 57 00:03:11,800 --> 00:03:14,600 Speaker 1: to cleaner energy back here in the US, Nathan, we 58 00:03:14,639 --> 00:03:17,079 Speaker 1: have news this morning on Peloton. According to the Wall 59 00:03:17,120 --> 00:03:19,800 Speaker 1: Street jur An Old CEO John Foley is stepping down. 60 00:03:19,880 --> 00:03:22,560 Speaker 1: The move comes ahead of earnings from Peloton and speculation 61 00:03:22,600 --> 00:03:25,600 Speaker 1: of a takeover. Begin more from Bloomberg's Tom Busby, the 62 00:03:25,639 --> 00:03:29,040 Speaker 1: maker of high end at home exercise machines, reports second 63 00:03:29,080 --> 00:03:32,680 Speaker 1: quarter results after the closing bell today. Bloomberg estimates that 64 00:03:32,720 --> 00:03:35,720 Speaker 1: revenue will be one point one four billion dollars and 65 00:03:35,800 --> 00:03:38,440 Speaker 1: it will post an adjusted loss of a dollar seventeen 66 00:03:38,480 --> 00:03:41,240 Speaker 1: per share. That's despite still having two point eight million 67 00:03:41,320 --> 00:03:45,160 Speaker 1: subscribers to its fitness sessions. Now shares have lost eighty 68 00:03:45,240 --> 00:03:47,880 Speaker 1: percent of their value since January of last year after 69 00:03:47,960 --> 00:03:51,760 Speaker 1: lockdowns ended and sales slumped, But just yesterday shares shot 70 00:03:51,840 --> 00:03:55,000 Speaker 1: up twenty one percent on reports it's a takeover target 71 00:03:55,360 --> 00:03:59,600 Speaker 1: reportedly getting interest from Apple, Amazon, and Nike. Tom Busby 72 00:04:00,000 --> 00:04:03,280 Speaker 1: Boomberg Daybreak. All right, Tom, thanks, turning to geopolitics, It's 73 00:04:03,280 --> 00:04:06,560 Speaker 1: still about Russia and Ukraine. President Biden's vowing to end 74 00:04:06,680 --> 00:04:09,440 Speaker 1: the North Stream to pipeline between Russia and Germany if 75 00:04:09,440 --> 00:04:13,200 Speaker 1: Moscow invades Ukraine. Bloomberg said, Baxter has the story. President 76 00:04:13,280 --> 00:04:16,480 Speaker 1: Biden is saying that pipeline and invasion don't go together. 77 00:04:16,600 --> 00:04:20,919 Speaker 1: The notion that North Stream team would go north Stream 78 00:04:20,960 --> 00:04:25,200 Speaker 1: two would go forward with an invasion by the Russians, 79 00:04:25,600 --> 00:04:28,680 Speaker 1: It's just not going to happen. Biden says the US 80 00:04:28,720 --> 00:04:31,880 Speaker 1: and Germany are in perfect unity, and he adds Russia 81 00:04:31,960 --> 00:04:36,000 Speaker 1: needs the supply channel as badly as Europe does. In 82 00:04:36,160 --> 00:04:39,880 Speaker 1: San Francisco, I'm at Baxter Bloomberg Daybreak, Thanks said us kinda. 83 00:04:40,040 --> 00:04:42,400 Speaker 1: Tensions are also in the small line today. The White 84 00:04:42,400 --> 00:04:46,159 Speaker 1: House is calling on Beijing for not meeting its trade promises. 85 00:04:46,560 --> 00:04:50,200 Speaker 1: Amy Morris has the latest from our Bloomberg newsroom in Washington. 86 00:04:50,440 --> 00:04:52,560 Speaker 1: China has failed to hold up its end of the 87 00:04:52,600 --> 00:04:56,200 Speaker 1: trade agreement reached during the Trump administration. Did not meet 88 00:04:56,240 --> 00:04:58,880 Speaker 1: the purchasing targets in the agreement, which it pledged to 89 00:04:58,920 --> 00:05:02,480 Speaker 1: buy an extra two hundred billion dollars in US agriculture, energy, 90 00:05:02,720 --> 00:05:06,640 Speaker 1: and manufactured products over two years. Sources tell Bloomberg the 91 00:05:06,640 --> 00:05:09,800 Speaker 1: talks are ongoing, but now the Biden administration wants China 92 00:05:09,839 --> 00:05:13,360 Speaker 1: to take concrete action. White House officials say this illustrates 93 00:05:13,400 --> 00:05:16,240 Speaker 1: the limits of the Phase one deal inherited from the 94 00:05:16,240 --> 00:05:20,640 Speaker 1: Trump administration. In Washington, I'm Amy Morris, Bloomberg, Daybreak, Thanks Amy. 95 00:05:20,760 --> 00:05:23,039 Speaker 1: Now the politics of a different kind involving a high 96 00:05:23,080 --> 00:05:26,320 Speaker 1: profile billionaire and social media Peter Teal is leaving the 97 00:05:26,360 --> 00:05:29,040 Speaker 1: board of Facebook's parent Meta in order to pursue Donald 98 00:05:29,080 --> 00:05:32,480 Speaker 1: Trump's agenda. We get more from Bloomberg's Doug Chrisner. Teal 99 00:05:32,560 --> 00:05:36,080 Speaker 1: has advised Metic co founder Mark Zuckerberg for nearly two decades. 100 00:05:36,240 --> 00:05:39,120 Speaker 1: Teal became a director in two thousand five after an 101 00:05:39,120 --> 00:05:42,320 Speaker 1: early investment in Facebook. We are told Teal now plans 102 00:05:42,360 --> 00:05:46,560 Speaker 1: to increase political support for former President Trump's agenda during 103 00:05:46,560 --> 00:05:50,440 Speaker 1: the election, and he doesn't want his political activities to 104 00:05:50,520 --> 00:05:53,719 Speaker 1: be a distraction for Facebook. Teal's focus will be on 105 00:05:53,800 --> 00:05:57,600 Speaker 1: backing Republican candidates for U. S. Senate aligned with Trump, 106 00:05:57,920 --> 00:06:01,680 Speaker 1: names like Blake Masters of Arizona and jd Vance of Ohio. 107 00:06:02,040 --> 00:06:05,039 Speaker 1: In New York, I'm Do Christener Bloomberg Daybreak, don thank you. 108 00:06:05,080 --> 00:06:07,359 Speaker 1: We now turned to the pandemic and long running mash 109 00:06:07,360 --> 00:06:10,560 Speaker 1: mandates across the country. Some governors are moving to discontinue 110 00:06:10,640 --> 00:06:13,240 Speaker 1: mouse in schools. We get the latesh line from Bloomberg's 111 00:06:13,320 --> 00:06:15,640 Speaker 1: I need a young good morning rend a good morning Karen. 112 00:06:15,760 --> 00:06:18,760 Speaker 1: These governors believe the need for masks is outweighed by 113 00:06:18,800 --> 00:06:23,560 Speaker 1: widespread vaccination, lower transmission, and the need for unimpeded instruction. 114 00:06:23,920 --> 00:06:26,719 Speaker 1: Connecticut Governor Ned Lamont says the state will end its 115 00:06:26,720 --> 00:06:29,120 Speaker 1: mask mandate for schools and daycares at the end of 116 00:06:29,160 --> 00:06:32,719 Speaker 1: this month. New Jersey will end its mask mandate next month. 117 00:06:33,000 --> 00:06:36,679 Speaker 1: Delaware is moving quicker, ending indoor mask requirements on Friday 118 00:06:36,680 --> 00:06:38,680 Speaker 1: and in schools at the end of the month. And 119 00:06:38,720 --> 00:06:41,000 Speaker 1: here in New York, Governor Kathy Hokel may soon make 120 00:06:41,080 --> 00:06:44,240 Speaker 1: similar moves. The one thing I'm asking all parents to 121 00:06:44,279 --> 00:06:48,400 Speaker 1: do and the pediatricians who advise them, let's get more 122 00:06:48,480 --> 00:06:51,280 Speaker 1: children vaccinated so they have that suit of armor they 123 00:06:51,320 --> 00:06:54,200 Speaker 1: need to be protected. Governor Kathy Hokele has yet to 124 00:06:54,240 --> 00:06:58,279 Speaker 1: announce a date to end New York's mask restrictions. Live 125 00:06:58,320 --> 00:07:00,680 Speaker 1: in New York, I'm gonna need a young burg Daybreak. 126 00:07:00,960 --> 00:07:03,000 Speaker 1: We need to thank you. Bloomberg. Daybreak is brought to 127 00:07:03,000 --> 00:07:06,160 Speaker 1: you by Interactive Brokers Global Analyst. Ib k OUR Global 128 00:07:06,160 --> 00:07:09,560 Speaker 1: Analyst helps you find new global investment opportunities to diversify 129 00:07:09,600 --> 00:07:13,120 Speaker 1: your portfolio and discover undervalued companies. Try I b k 130 00:07:13,280 --> 00:07:16,280 Speaker 1: OUR Global Analysts today at I b k R dot 131 00:07:16,320 --> 00:07:23,720 Speaker 1: com slash g A. This is Bloomberg at six o 132 00:07:23,880 --> 00:07:26,280 Speaker 1: seven on Wall Street, thirty six degrees in Central Park. 133 00:07:26,360 --> 00:07:28,720 Speaker 1: Got that accident on the westbound l I E. Glen 134 00:07:28,720 --> 00:07:31,840 Speaker 1: Cove Road. Details coming up in traffic. First Michael Barr 135 00:07:31,880 --> 00:07:33,360 Speaker 1: with more on what's going on in New York and 136 00:07:33,400 --> 00:07:36,000 Speaker 1: around the world. Good morning, Michael, Good morning Nathan. Crime 137 00:07:36,080 --> 00:07:39,000 Speaker 1: continues to surge in New York City. According to data 138 00:07:39,080 --> 00:07:41,720 Speaker 1: from the n y p D, the city saw a 139 00:07:41,760 --> 00:07:44,720 Speaker 1: nearly sixty percent increase in the past week alone compared 140 00:07:44,760 --> 00:07:48,000 Speaker 1: to this time last year. Please say, the highest jump 141 00:07:48,040 --> 00:07:52,120 Speaker 1: in cases included car thefts. Meanwhile, just last night alone, 142 00:07:52,120 --> 00:07:55,000 Speaker 1: three people were killed in separate shootings in the city. 143 00:07:55,360 --> 00:07:58,880 Speaker 1: The top science advisor to President Joe Biden resigned after 144 00:07:58,960 --> 00:08:01,040 Speaker 1: it was revealed by elated at the White House is 145 00:08:01,240 --> 00:08:05,680 Speaker 1: safe workplace policies. Eric Lander apologized after being accused of 146 00:08:05,800 --> 00:08:09,680 Speaker 1: bullying his staff. White House spokeswoman Jen Psaki says Lander 147 00:08:10,040 --> 00:08:13,560 Speaker 1: was given the same rigorous confirmation process as other appointees, 148 00:08:13,880 --> 00:08:17,160 Speaker 1: and no serious concerns about his behavior had been raised. 149 00:08:17,360 --> 00:08:20,280 Speaker 1: Dr Lander's record was thoroughly examined as a part of 150 00:08:20,280 --> 00:08:24,560 Speaker 1: his confirmation and he received bipartisan support, including final confirmation 151 00:08:24,640 --> 00:08:27,360 Speaker 1: with a voice vote. But again, once we were made 152 00:08:27,360 --> 00:08:30,560 Speaker 1: aware of the complaint, we launched to throw investigation. Spokeswoman 153 00:08:30,640 --> 00:08:34,640 Speaker 1: Jen Psaki, former President Trump may face charges for breaking 154 00:08:34,679 --> 00:08:38,920 Speaker 1: the Presidential Records Act. According to the National Archives, Trump 155 00:08:39,200 --> 00:08:42,240 Speaker 1: broad records with him to his Moral Logo resort that 156 00:08:42,320 --> 00:08:45,079 Speaker 1: he should have turned over, as well as ripping up 157 00:08:45,080 --> 00:08:48,280 Speaker 1: documents AIDS had to take back together. The head of 158 00:08:48,280 --> 00:08:51,600 Speaker 1: the January six Committee, Chairman Benny Thompson, was asked if 159 00:08:51,640 --> 00:08:55,040 Speaker 1: there are any documents his committee knows or missing just 160 00:08:55,160 --> 00:08:59,240 Speaker 1: too early and were getting um quite a bit of 161 00:08:59,440 --> 00:09:03,680 Speaker 1: information from our car, so it's it's a work in 162 00:09:03,760 --> 00:09:07,760 Speaker 1: progres Jemmy Thompson says any evidence of criminal activity will 163 00:09:07,760 --> 00:09:10,679 Speaker 1: be sent to the Justice Department. The Supreme Court has 164 00:09:10,720 --> 00:09:13,439 Speaker 1: put on hold a lower court of ruling that Alabama 165 00:09:13,559 --> 00:09:18,080 Speaker 1: must draw new congressional districts before the two elections. It 166 00:09:18,160 --> 00:09:21,920 Speaker 1: boosts Republican chances to hold six of the state's seven 167 00:09:21,960 --> 00:09:25,120 Speaker 1: seats in the House of Representatives. Only one district now 168 00:09:25,160 --> 00:09:28,960 Speaker 1: will likely elect a black representative. The state, which has 169 00:09:29,000 --> 00:09:33,840 Speaker 1: seven coggressional districts, is black. Canadian Preme Minister Justin Trudeau 170 00:09:33,960 --> 00:09:38,960 Speaker 1: ripped Trucker's protest over COVID rules. The demonstrations have paralyzed 171 00:09:39,000 --> 00:09:42,280 Speaker 1: Ottawa and have now halted commercial traffic to the US 172 00:09:42,360 --> 00:09:45,560 Speaker 1: at the busiest border crossing between the two countries, the 173 00:09:45,600 --> 00:09:50,079 Speaker 1: Ambassador Bridge, which separates wins A, Ontario and Detroit. Global 174 00:09:50,080 --> 00:09:52,240 Speaker 1: News twenty four hours a day on air and on 175 00:09:52,280 --> 00:09:55,480 Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred 176 00:09:55,520 --> 00:09:58,960 Speaker 1: journalists analysts more than a hundred twenty countries. Michael Barr 177 00:09:59,000 --> 00:10:06,360 Speaker 1: and this is Bloomberg, all right, Michael, thanks almost extent 178 00:10:06,440 --> 00:10:08,240 Speaker 1: on all Street time for the Bloomberg Sports Something with 179 00:10:08,360 --> 00:10:10,600 Speaker 1: John stadshow. Nathan. The nixt third loss in a row. 180 00:10:10,640 --> 00:10:13,400 Speaker 1: They've had three three game losing streaks just in the 181 00:10:13,480 --> 00:10:16,000 Speaker 1: past month. Good start at utah neis led by twelve, 182 00:10:16,040 --> 00:10:18,960 Speaker 1: but they never seem able to put together four good quarters. 183 00:10:19,040 --> 00:10:21,559 Speaker 1: That only thirteen points in the third quarter, that overtime 184 00:10:21,640 --> 00:10:24,480 Speaker 1: lost Saturday to the Lakers, only eighteen points in the 185 00:10:24,559 --> 00:10:27,560 Speaker 1: fourth quarter last night, and the Jazz one one thirteen 186 00:10:27,640 --> 00:10:30,000 Speaker 1: one oh four is Donovan Mitchell scored thirty two points. 187 00:10:30,080 --> 00:10:32,439 Speaker 1: Julius Randall had thirty for the Knicks, who played tonight 188 00:10:32,880 --> 00:10:36,080 Speaker 1: in Denver. The slumping Nets back home for the Celtics, 189 00:10:36,160 --> 00:10:38,040 Speaker 1: Brooklyn's lost eight, and row Devil's back from the All 190 00:10:38,080 --> 00:10:41,080 Speaker 1: Star Break lost in Ottawa four to one. College hoops, 191 00:10:41,080 --> 00:10:44,359 Speaker 1: the last time Virginia would visit Duke with Mike Schefski 192 00:10:44,400 --> 00:10:47,600 Speaker 1: as the Blue Devils coach. Cavaliers trailed by two five 193 00:10:48,080 --> 00:10:57,240 Speaker 1: with four part five Speakman fires the free point seven 194 00:10:57,480 --> 00:11:04,760 Speaker 1: seconds ago. Google. The silence is Jeff your radio have 195 00:11:04,920 --> 00:11:07,079 Speaker 1: the call. Every NFL team now has their head coach 196 00:11:07,160 --> 00:11:10,200 Speaker 1: for next season. Houston to New Orleans both promoted their 197 00:11:10,280 --> 00:11:13,000 Speaker 1: current defense. Who have Cornator so Lovey Smith takes over 198 00:11:13,040 --> 00:11:15,920 Speaker 1: the Texans, Dennis Allen the Saints. The U s still 199 00:11:15,960 --> 00:11:18,160 Speaker 1: without a gold medal at the Olympics, although Nathan Chan 200 00:11:18,360 --> 00:11:20,920 Speaker 1: certainly seems headed for one, and men's figure skating in 201 00:11:21,040 --> 00:11:23,959 Speaker 1: short program the best in history, and the US has 202 00:11:24,080 --> 00:11:27,920 Speaker 1: now won four silver medals, the latest the surprising second 203 00:11:27,960 --> 00:11:31,560 Speaker 1: place finished for Ryan Cochrane. Seagull in alpine skiing super 204 00:11:31,640 --> 00:11:34,640 Speaker 1: g It comes fifty years after his mother won Olympic 205 00:11:34,720 --> 00:11:38,040 Speaker 1: gold women's hockey. Canada beat the US four two. They're 206 00:11:38,080 --> 00:11:40,400 Speaker 1: likely to meet again next week for the gold medal game. 207 00:11:40,679 --> 00:11:43,440 Speaker 1: John stash a war Bloomberg Sports. Nathan all Right, John, 208 00:11:43,480 --> 00:11:45,360 Speaker 1: thanks right now. S and P futures are off a point, 209 00:11:45,400 --> 00:11:49,880 Speaker 1: Death futures up, nastack futures, little change to the upside. 210 00:11:50,520 --> 00:11:53,280 Speaker 1: Tend your treasury down four thirty seconds, the yield one 211 00:11:53,360 --> 00:11:55,680 Speaker 1: point nine three percent. We'll talk about the bond sell 212 00:11:55,720 --> 00:11:59,760 Speaker 1: off next Smith Bloomberg Opinion Columns. Marcus Ashworth, stay with 213 00:11:59,840 --> 00:12:08,440 Speaker 1: us that conversation. This is Bloomberg Bloomberg eleven three oh 214 00:12:08,480 --> 00:12:10,599 Speaker 1: weather gradual clearing in low forties today, will be in 215 00:12:10,600 --> 00:12:13,720 Speaker 1: the upper forties to around fifty tomorrow under mostly Sunday skies, 216 00:12:13,720 --> 00:12:16,280 Speaker 1: partly sunny with a high your fifty by Thursday. Right now, 217 00:12:16,360 --> 00:12:23,400 Speaker 1: clouds thirty six degrees in central Park. Markets, headlines and 218 00:12:23,559 --> 00:12:26,800 Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com, 219 00:12:26,920 --> 00:12:30,559 Speaker 1: the Bloomberg Business at and at Bloomberg Victape. He's a 220 00:12:30,600 --> 00:12:40,360 Speaker 1: Bloomberg Business Flash and I'm Karen Moscow. Stocks in Europe 221 00:12:40,400 --> 00:12:43,199 Speaker 1: are gaining this morning as commodity producers receive a boost 222 00:12:43,200 --> 00:12:46,440 Speaker 1: from rising meadal prices and solid earnings. Treasury yields are 223 00:12:46,520 --> 00:12:50,240 Speaker 1: taking higher, the dollar strengthening, and SMP futures are little 224 00:12:50,320 --> 00:12:52,720 Speaker 1: changed once again. We check the markets every fifteen minutes 225 00:12:52,760 --> 00:12:56,000 Speaker 1: throughout the trading day on Bloomberg. We've been seeing SMP 226 00:12:56,160 --> 00:12:58,079 Speaker 1: futures move around a bit. This morning they are a 227 00:12:58,120 --> 00:13:01,520 Speaker 1: little changed again to Our futures are little changed as well, 228 00:13:01,679 --> 00:13:04,280 Speaker 1: and so are naz VAC futures. The decks in Germany 229 00:13:04,800 --> 00:13:07,480 Speaker 1: little change ten. Your treasury down six thirty seconds, held 230 00:13:07,559 --> 00:13:09,280 Speaker 1: one point nine three percent, the yield on the two 231 00:13:09,360 --> 00:13:12,240 Speaker 1: year one point three one percent. Nine X Screute oil 232 00:13:12,480 --> 00:13:14,800 Speaker 1: is down one point nine percent at a dollar seventy 233 00:13:14,840 --> 00:13:16,960 Speaker 1: four and eighty nine dollars, fifty eight cents of barrel 234 00:13:17,160 --> 00:13:19,360 Speaker 1: comics gold down two tenths per center at three dollars 235 00:13:19,360 --> 00:13:22,600 Speaker 1: twenty cents at eighteen eighteen sixty announced. The euro one 236 00:13:22,640 --> 00:13:25,040 Speaker 1: point one four to seven against the dollar. British found 237 00:13:25,080 --> 00:13:27,640 Speaker 1: one point three five two and again is at one 238 00:13:27,679 --> 00:13:31,000 Speaker 1: fifteen point three one. Bitcoin this morning is at forty 239 00:13:31,040 --> 00:13:34,679 Speaker 1: three thousand, eight hundred eighty dollars. Watching Peloton down about 240 00:13:34,720 --> 00:13:37,240 Speaker 1: five percent this morning ahead of its earnings, and on 241 00:13:37,360 --> 00:13:40,600 Speaker 1: new CEO John Foley will step down and become executive chair. 242 00:13:40,920 --> 00:13:43,079 Speaker 1: The Wall Street Journal also reports that the maker of 243 00:13:43,160 --> 00:13:46,320 Speaker 1: exercise bikes will shed about two thousand, eight hundred jobs, 244 00:13:46,600 --> 00:13:49,800 Speaker 1: affecting about twenty percent of corporate positions. And that's a 245 00:13:49,840 --> 00:13:52,719 Speaker 1: Bloomberg business flash. Now here's Michael Barrow with more on 246 00:13:52,800 --> 00:13:55,199 Speaker 1: what's going on around the world. By Karen, Thank you 247 00:13:55,320 --> 00:13:58,679 Speaker 1: very much. Diplomatic efforts to defuse the tensions around Ukraine 248 00:13:58,760 --> 00:14:02,920 Speaker 1: continued today, with French President Emmanuel mccroll expected in Kiev. 249 00:14:03,160 --> 00:14:07,400 Speaker 1: Yesterday mccroll met with Russian President Vladimir Putin in Moscow. 250 00:14:07,760 --> 00:14:11,520 Speaker 1: President Biden stop science advisor Dr Eric Lander has resigned. 251 00:14:11,880 --> 00:14:14,679 Speaker 1: It comes hours after the White House confirmed and internal 252 00:14:14,760 --> 00:14:18,880 Speaker 1: investigation found credible evidence that he mistreated his staff. At 253 00:14:18,920 --> 00:14:21,800 Speaker 1: the Beijing Winter Olympics, China and Sweden are tied for 254 00:14:21,880 --> 00:14:25,400 Speaker 1: the gold medal account with three. Russia has the most 255 00:14:25,600 --> 00:14:28,840 Speaker 1: medals overall at eight. The US has increased its medal 256 00:14:28,880 --> 00:14:32,160 Speaker 1: account to four, all silvers. In the NBA, the Knicks 257 00:14:32,280 --> 00:14:35,400 Speaker 1: and Wizards lost, the Warriors won. In the NHL, the 258 00:14:35,480 --> 00:14:38,400 Speaker 1: Devil's lost global news twenty four hours a day on 259 00:14:38,600 --> 00:14:41,600 Speaker 1: air and on Bloomberg Quick Take, powered by more than 260 00:14:41,680 --> 00:14:45,040 Speaker 1: twenty hundred journalists and analysts more than a hundred twenty countries. 261 00:14:45,200 --> 00:14:47,920 Speaker 1: I'm Michael Barr, and this is Bloomberg. Nathan right, Michael, 262 00:14:47,920 --> 00:14:49,760 Speaker 1: thank you for coming up to six twenty on Wall 263 00:14:49,800 --> 00:14:52,680 Speaker 1: Street Live from the Bloomberg Interactive Broker Studios. This is 264 00:14:52,800 --> 00:14:56,800 Speaker 1: Bloomberg Daybreak and Bloomberg Opinion columnist Marcus Ashworth is with 265 00:14:56,960 --> 00:15:00,240 Speaker 1: us now as we can continue to watch this world 266 00:15:00,280 --> 00:15:04,080 Speaker 1: will bond sell off, particularly in the US, Mark, Marcus. 267 00:15:04,200 --> 00:15:08,760 Speaker 1: With the tenure now approaching one point nine, we've got 268 00:15:08,880 --> 00:15:12,480 Speaker 1: some analysts thinking we could see two percent fairly soon. 269 00:15:12,960 --> 00:15:15,440 Speaker 1: How much further do you think this bond sell off 270 00:15:15,520 --> 00:15:19,440 Speaker 1: has to go? Here? Well, actually, I think it's fairly simple. 271 00:15:19,640 --> 00:15:21,760 Speaker 1: I think it will get to two or very close, 272 00:15:22,400 --> 00:15:25,840 Speaker 1: and if the order of markets follows it only plays out, 273 00:15:26,000 --> 00:15:29,200 Speaker 1: it'll it'll back off at least the first time, possibly 274 00:15:29,280 --> 00:15:31,360 Speaker 1: the second, but I'll only get the third test of 275 00:15:31,440 --> 00:15:33,480 Speaker 1: two percent. It's all over and we're going much higher, 276 00:15:33,920 --> 00:15:36,040 Speaker 1: but that'll be a range change. At for the moment, 277 00:15:36,080 --> 00:15:37,280 Speaker 1: I think we want to see where the top of 278 00:15:37,360 --> 00:15:40,600 Speaker 1: this range is and we're clearly we're exploring how far 279 00:15:40,680 --> 00:15:43,400 Speaker 1: we can go, and it's got much more to go. Initially, 280 00:15:43,880 --> 00:15:47,400 Speaker 1: I think it's meaningless to say that two percent it's 281 00:15:47,440 --> 00:15:50,240 Speaker 1: fair value, but at least it's fairer value really for 282 00:15:50,320 --> 00:15:52,760 Speaker 1: what we can see with an underlying inflation. What's going 283 00:15:52,800 --> 00:15:55,400 Speaker 1: on the real rates which have been really driving this 284 00:15:55,520 --> 00:15:57,800 Speaker 1: moved higher. I think a lot of hedging is going on. 285 00:15:58,400 --> 00:16:01,720 Speaker 1: We see that in particularly europe hair markets recently, both 286 00:16:01,800 --> 00:16:05,520 Speaker 1: in cit credit and credit default little own European government stuff, 287 00:16:05,520 --> 00:16:08,840 Speaker 1: So there's an awful lot of readjusting of where as 288 00:16:08,920 --> 00:16:10,840 Speaker 1: allocations should be at the start of this year, and 289 00:16:10,920 --> 00:16:13,320 Speaker 1: it's it's not been pretty for bonds. What do you 290 00:16:13,480 --> 00:16:16,160 Speaker 1: think is driving the move right now? I mean we've 291 00:16:16,200 --> 00:16:19,160 Speaker 1: had some time to assess the impact of the big 292 00:16:19,280 --> 00:16:24,120 Speaker 1: surprise from the January jobs report. What what's sparking this today? 293 00:16:24,200 --> 00:16:26,640 Speaker 1: Do you think? I think it's more of the same 294 00:16:26,720 --> 00:16:29,640 Speaker 1: look that that that non pom peril report was fascinating, 295 00:16:29,720 --> 00:16:32,440 Speaker 1: not just because of the January in a surprise strength. 296 00:16:32,600 --> 00:16:34,560 Speaker 1: I mean you look back at people will expect to 297 00:16:34,640 --> 00:16:36,760 Speaker 1: some people expect it's a big negative number. I mean, 298 00:16:36,880 --> 00:16:39,920 Speaker 1: isn't that great around them generator number of the payroll 299 00:16:40,000 --> 00:16:42,720 Speaker 1: making all look stupid. But the point was the back revisions, 300 00:16:42,760 --> 00:16:45,760 Speaker 1: and it shows the actual recovery from the panemic has 301 00:16:45,760 --> 00:16:48,040 Speaker 1: been a lot smoother and stronger, and that's really important. 302 00:16:48,080 --> 00:16:51,000 Speaker 1: But that means that inflation is going to become embedded, 303 00:16:51,400 --> 00:16:53,880 Speaker 1: and the FED and the rest potential banks are now 304 00:16:53,960 --> 00:16:55,800 Speaker 1: started all have to say the same thing, which is 305 00:16:55,800 --> 00:16:57,840 Speaker 1: they're gonna have to do something. A bad inflation that 306 00:16:58,040 --> 00:17:00,320 Speaker 1: is clearly bad for bonds is going to intend to 307 00:17:00,400 --> 00:17:02,680 Speaker 1: be bad per bonds, and a lot of shuffling of 308 00:17:02,840 --> 00:17:05,840 Speaker 1: of people's allocations are going to continue as people make 309 00:17:05,880 --> 00:17:09,639 Speaker 1: decisions of investment committee meetings. We've heard some time that 310 00:17:10,440 --> 00:17:13,280 Speaker 1: the tenure could get as high as three. I mean, 311 00:17:13,359 --> 00:17:15,240 Speaker 1: do you think we could see a level that high 312 00:17:15,359 --> 00:17:18,240 Speaker 1: before things start to settle down. No, I don't think 313 00:17:18,280 --> 00:17:19,840 Speaker 1: it goes up there, and we will at some point 314 00:17:19,920 --> 00:17:21,800 Speaker 1: go the tour a quarter possibly two and a half. 315 00:17:21,920 --> 00:17:23,760 Speaker 1: Then I think we get the situation where where the 316 00:17:23,800 --> 00:17:26,119 Speaker 1: FED and they're not too careful, they might start breaking 317 00:17:26,160 --> 00:17:28,120 Speaker 1: the York curve and breaking the economy and the recovery 318 00:17:28,200 --> 00:17:30,080 Speaker 1: with it. So you know, I just take a lot 319 00:17:30,119 --> 00:17:32,119 Speaker 1: of store by what Powell said. There's a lot of 320 00:17:32,160 --> 00:17:34,440 Speaker 1: hawkish things people can interpret, but the key thing for 321 00:17:34,600 --> 00:17:36,720 Speaker 1: me is he said the FED is going to be nimble. 322 00:17:37,080 --> 00:17:39,960 Speaker 1: That's such an important phrase because it means they can stop, 323 00:17:40,080 --> 00:17:42,480 Speaker 1: they can go and reverse. They don't just have to 324 00:17:42,560 --> 00:17:44,720 Speaker 1: keep hiking. But for the moment they need to hike 325 00:17:44,800 --> 00:17:46,640 Speaker 1: and hike a bit more. And they're going to see 326 00:17:46,680 --> 00:17:49,480 Speaker 1: how they affected that is, and possibly then they'll they'll 327 00:17:49,600 --> 00:17:51,879 Speaker 1: do something different or not quite exactly the same thing. 328 00:17:52,320 --> 00:17:53,840 Speaker 1: And I think is it is. The key here is 329 00:17:53,880 --> 00:17:56,399 Speaker 1: that we've got some too far too late from the 330 00:17:56,440 --> 00:17:58,880 Speaker 1: Bank of England even more too late the European Center Bank, 331 00:17:58,920 --> 00:18:01,160 Speaker 1: with the FED having clearly been too late as well. 332 00:18:01,400 --> 00:18:03,440 Speaker 1: I've got their act together and doing something about it. 333 00:18:03,480 --> 00:18:05,320 Speaker 1: And that for the moment is a repricing in bonds, 334 00:18:05,640 --> 00:18:07,520 Speaker 1: but I think it's been a fairly smooth one. The 335 00:18:07,600 --> 00:18:09,840 Speaker 1: key thing here is that this isn't a route. This 336 00:18:10,000 --> 00:18:13,240 Speaker 1: is as steadily higher repricing as it should be for 337 00:18:13,440 --> 00:18:17,080 Speaker 1: inflation risks. I wonder whether you think the CPI print 338 00:18:17,119 --> 00:18:19,720 Speaker 1: that we're gonna get on Thursday is going to cause 339 00:18:19,800 --> 00:18:26,040 Speaker 1: even more jitters for bond investors. The nervous is my voice. 340 00:18:26,320 --> 00:18:27,639 Speaker 1: It's the one thing. I mean, I don't know what 341 00:18:27,760 --> 00:18:30,040 Speaker 1: it's aid out of ten or seven out of last whatever, 342 00:18:30,359 --> 00:18:32,840 Speaker 1: but they've been nasty. And I think that we've clearly 343 00:18:32,880 --> 00:18:34,880 Speaker 1: seen that feeling through in Europe, which the last three 344 00:18:34,960 --> 00:18:38,320 Speaker 1: numbers have been much worse than European officials and expected. 345 00:18:38,320 --> 00:18:41,760 Speaker 1: It's completely foxed their entire plan. The same has happened 346 00:18:41,760 --> 00:18:43,720 Speaker 1: really in the US as we continue see the strength 347 00:18:43,760 --> 00:18:46,280 Speaker 1: I think the keys everyone's looking at his shelter, you know, 348 00:18:46,680 --> 00:18:49,840 Speaker 1: on an equivalent rent basically housing is that is going 349 00:18:49,920 --> 00:18:51,800 Speaker 1: to keep on going up for quite a long while. 350 00:18:51,880 --> 00:18:55,240 Speaker 1: That's going to keep along with all prices. You know, 351 00:18:55,359 --> 00:18:58,000 Speaker 1: the pressure is still upward on inflation from the moment, 352 00:18:58,119 --> 00:19:01,120 Speaker 1: and that we may see a peak probably April time, 353 00:19:01,200 --> 00:19:03,600 Speaker 1: I'll guess that's the expectation. That could well carry on 354 00:19:03,760 --> 00:19:06,480 Speaker 1: for more and and the core inflation be stronger than 355 00:19:06,560 --> 00:19:09,800 Speaker 1: people had ever expected. Now be interesting to see if 356 00:19:09,840 --> 00:19:12,360 Speaker 1: we do start to see pek inflation sooner than predicted. 357 00:19:12,440 --> 00:19:16,000 Speaker 1: Marcus Ashworth as always great to get your thoughts, Bloomberg 358 00:19:16,040 --> 00:19:18,959 Speaker 1: Opinion columnist Marcus Ashworth with us this morning. You can 359 00:19:19,040 --> 00:19:23,399 Speaker 1: agree much more from Bloomberg Opinion Bloomberg dot Com Slash 360 00:19:23,480 --> 00:19:27,040 Speaker 1: Opinion O p I ND go on the Bloomberg terminal 361 00:19:27,119 --> 00:19:30,520 Speaker 1: to get all the insights from our opinion columnists here 362 00:19:30,560 --> 00:19:33,399 Speaker 1: at Bloomberg. Right now looking at futures, mixed action with 363 00:19:33,560 --> 00:19:36,440 Speaker 1: SMP futures little change to the downside now, Dwalt futures 364 00:19:36,520 --> 00:19:40,159 Speaker 1: up twenty points. NASTAC futures are lower by about ten points. 365 00:19:40,280 --> 00:19:42,680 Speaker 1: The action is in the bond market this morning. The 366 00:19:42,720 --> 00:19:45,240 Speaker 1: ten year now down seven thirty seconds, with a yield 367 00:19:45,320 --> 00:19:47,600 Speaker 1: one point nine four percent. Yield on the two year 368 00:19:47,680 --> 00:19:50,880 Speaker 1: right now just shy of one point three two. We'll 369 00:19:50,920 --> 00:19:54,320 Speaker 1: have more on the bond action shortly, plus President Biden's 370 00:19:54,359 --> 00:19:58,959 Speaker 1: warning about nord Stream to five things you need to notice. 371 00:19:59,000 --> 00:20:07,960 Speaker 1: Start your day just ahead on Bloomberg day Break Bloomberg 372 00:20:08,000 --> 00:20:10,880 Speaker 1: eleven three oh Weather gradual clearing, low forties today, upper 373 00:20:10,960 --> 00:20:13,600 Speaker 1: forties mostly Sunday. Tomorrow partly sunny with a high near 374 00:20:13,760 --> 00:20:17,520 Speaker 1: fifty by Thursday. Cloud's thirty six degrees Right now in 375 00:20:17,600 --> 00:20:26,000 Speaker 1: seven broadcasting live from the Bloomberg Interactive Broker Studio in 376 00:20:26,080 --> 00:20:29,119 Speaker 1: New York, Bloomberg E Living free on to Washington, d C. 377 00:20:29,320 --> 00:20:34,000 Speaker 1: Bloomberg to Boston, Bloomberg one O six one to San Francisco, 378 00:20:34,080 --> 00:20:37,320 Speaker 1: Bloomberg Non sixty to the country, Sirius XM to the 379 00:20:37,400 --> 00:20:40,280 Speaker 1: one nine team, and around the globe the Bloomberg business 380 00:20:40,680 --> 00:20:50,400 Speaker 1: in Bloomberg Radio dot com. This is Bloomberg Daybreak. It's 381 00:20:50,440 --> 00:20:52,680 Speaker 1: six thirty on Wall Street. Good morning of Nathan Hager 382 00:20:53,080 --> 00:20:55,520 Speaker 1: and I'm fair and Moscow. We're just about three hours 383 00:20:55,600 --> 00:20:57,639 Speaker 1: away from the open of US trading. Time for the 384 00:20:57,680 --> 00:20:59,880 Speaker 1: five things you need to notice start your day. Bron 385 00:21:00,000 --> 00:21:03,240 Speaker 1: to you buy Interactive brokers trade crypto for less coin 386 00:21:03,320 --> 00:21:05,639 Speaker 1: with commissions as twelve to eighteen basis points and no 387 00:21:05,800 --> 00:21:08,600 Speaker 1: hidden spreads or markups. Learn more at ib k r 388 00:21:08,720 --> 00:21:12,439 Speaker 1: dot com slash crypto up First. Bond yields are rising 389 00:21:12,520 --> 00:21:15,600 Speaker 1: This morning, the ten year treasury yield briefly rose above 390 00:21:15,640 --> 00:21:18,159 Speaker 1: one point nine five percent, a level last scene in 391 00:21:18,240 --> 00:21:22,920 Speaker 1: December of Patrick Armstrong as chief investment officer at lurin 392 00:21:23,000 --> 00:21:25,480 Speaker 1: me Wealth. I think bond yields are going to continue 393 00:21:25,520 --> 00:21:27,200 Speaker 1: to rise. I think we're going to get to the 394 00:21:27,280 --> 00:21:31,920 Speaker 1: point where tenure yields equal tenure inflation expectations. That's the 395 00:21:32,040 --> 00:21:34,200 Speaker 1: point where it's a break even for an investor to 396 00:21:34,440 --> 00:21:37,960 Speaker 1: put their money in something mystery from default and preserve 397 00:21:38,040 --> 00:21:41,639 Speaker 1: their purchasing power. Patrick Armstrong at Lurini Wealth expects ten 398 00:21:41,720 --> 00:21:44,320 Speaker 1: year yields to rise another sixty basis points and checking 399 00:21:44,359 --> 00:21:46,520 Speaker 1: treasuries now the yield on the ten year is at 400 00:21:46,560 --> 00:21:48,840 Speaker 1: one point nine four percent, the two year yield one 401 00:21:48,880 --> 00:21:51,600 Speaker 1: point three two percent. The corporate news Karen and Video 402 00:21:51,680 --> 00:21:54,880 Speaker 1: is abandoning its proposed forty billion dollar purchase of arm. 403 00:21:54,960 --> 00:21:57,639 Speaker 1: The company is bowing to regulatory pressure and ending what 404 00:21:57,680 --> 00:21:59,560 Speaker 1: would have been the largest deal ever in the Chip 405 00:21:59,680 --> 00:22:02,080 Speaker 1: and this string. Instead, SoftBank is planning an I p 406 00:22:02,280 --> 00:22:04,800 Speaker 1: O of ARM well on the Erny's front. Dathan shares 407 00:22:04,800 --> 00:22:07,000 Speaker 1: a VP I'm more than one percent in London. The 408 00:22:07,080 --> 00:22:09,679 Speaker 1: company reported as high as profit in almost a decade, 409 00:22:09,720 --> 00:22:13,520 Speaker 1: thanks to searching oil and gas prices. Turning into geopolitics now, 410 00:22:13,640 --> 00:22:17,439 Speaker 1: President Widen says Russia's Nordstream to pipeline will be halted 411 00:22:17,520 --> 00:22:21,480 Speaker 1: if President Vladimir Putin invades Ukraine. Moscow has repeatedly denied 412 00:22:21,520 --> 00:22:25,359 Speaker 1: plans for an invasion. Massachusetts Democratic Congressman Jake Dockin class 413 00:22:25,400 --> 00:22:28,800 Speaker 1: hope sanctions will be effective. The purpose of sanctions is 414 00:22:28,840 --> 00:22:32,000 Speaker 1: to be a deterrent effect so that when President Putin 415 00:22:32,119 --> 00:22:35,920 Speaker 1: is weighing the benefits and risks to him of invading Ukraine, 416 00:22:36,200 --> 00:22:39,000 Speaker 1: he has to put the sanctions on the debit side 417 00:22:39,040 --> 00:22:40,639 Speaker 1: of the calculation. He has to say that these are 418 00:22:40,800 --> 00:22:45,200 Speaker 1: risks inherent in that operation. Democratic Congressman Jake Cokinclass spoke 419 00:22:45,240 --> 00:22:48,000 Speaker 1: with our Washington correspondent Joe Matthew on Bloomberg Sound on 420 00:22:48,160 --> 00:22:50,359 Speaker 1: Catch the program weekdays at five p m. Eastern on 421 00:22:50,440 --> 00:22:53,200 Speaker 1: Bloomberg Radio. I mean now turn to the pandemic Nathan 422 00:22:53,280 --> 00:22:55,960 Speaker 1: and long running mask man days. Governors are now taking 423 00:22:56,000 --> 00:22:59,360 Speaker 1: steps to discontinue masks and school sound Bloomberg's were Needy 424 00:22:59,400 --> 00:23:01,600 Speaker 1: Young joins us live at the latest. Good Morning, Rindy Down, 425 00:23:01,600 --> 00:23:04,680 Speaker 1: Good Morning Karen. Connecticut Governor Ned Lamont says the state 426 00:23:04,760 --> 00:23:07,560 Speaker 1: will end its mask mandate for schools and daycares at 427 00:23:07,600 --> 00:23:10,120 Speaker 1: the end of this month. New Jersey will end its 428 00:23:10,160 --> 00:23:14,760 Speaker 1: mask mandate next month. Delaware's ending indoor mask requirements on 429 00:23:14,880 --> 00:23:16,880 Speaker 1: Friday and in schools at the end of the month, 430 00:23:17,160 --> 00:23:19,760 Speaker 1: and here in New York, Governor Kathy Hocke may soon 431 00:23:19,880 --> 00:23:22,600 Speaker 1: make similar moves, although she has yet to announce a 432 00:23:22,760 --> 00:23:26,040 Speaker 1: date to end restrictions. Live in New York. I'm gonnaed 433 00:23:26,080 --> 00:23:28,080 Speaker 1: a young Bloomberg day break rened to thank you. And 434 00:23:28,160 --> 00:23:30,280 Speaker 1: that's the five things you need to notice start your day. 435 00:23:30,320 --> 00:23:34,199 Speaker 1: Brought to you by Interactive Brokers. And this is Bloomberg. 436 00:23:38,480 --> 00:23:40,680 Speaker 1: Thanks Karen. Six thirty three on Wall Street, thirty six 437 00:23:40,680 --> 00:23:42,560 Speaker 1: degrees in Central Park and got an accident on the 438 00:23:42,600 --> 00:23:45,560 Speaker 1: westbound Grand Central Parkway. Head toward clear view. Details coming 439 00:23:45,600 --> 00:23:48,120 Speaker 1: up in traffic. First Michael Barr with to Morrow, much 440 00:23:48,160 --> 00:23:50,119 Speaker 1: going on in New York and around the world. Michael, 441 00:23:50,200 --> 00:23:52,520 Speaker 1: thank you very much. Nathan. Crime is rising in New 442 00:23:52,600 --> 00:23:56,080 Speaker 1: York City. According to data from the NYPD, the city 443 00:23:56,160 --> 00:23:59,639 Speaker 1: saw nearly six increase in the past week alone compared 444 00:23:59,720 --> 00:24:02,880 Speaker 1: to this time last year. Police say the highest jump 445 00:24:02,920 --> 00:24:07,360 Speaker 1: in cases included car thefts. Since January one, the NYPD 446 00:24:07,480 --> 00:24:12,000 Speaker 1: says overall crime has gone up over fort Meanwhile, the 447 00:24:12,119 --> 00:24:16,200 Speaker 1: NYPD says just last night, three people were killed in 448 00:24:16,280 --> 00:24:20,600 Speaker 1: separate shootings. President Biden stopped Science advisor Eric Lander has 449 00:24:20,640 --> 00:24:23,840 Speaker 1: resigned after the White House confirmed that in internal investigation 450 00:24:24,160 --> 00:24:27,800 Speaker 1: found credible evidence that he mistreated his staff. It marks 451 00:24:27,840 --> 00:24:31,280 Speaker 1: the first cabinet level departure of the Biden administration. Why 452 00:24:31,359 --> 00:24:34,680 Speaker 1: Now spokeswoman jen Psaki doesn't has been crystal clear with 453 00:24:34,800 --> 00:24:38,320 Speaker 1: all of us about his high expectations of how he 454 00:24:38,640 --> 00:24:42,960 Speaker 1: and his staff should be creating a respectful work. Environment 455 00:24:43,080 --> 00:24:47,480 Speaker 1: spokeswoman Saki says Biden accepted Lander's resignation with gratitude for 456 00:24:47,720 --> 00:24:51,440 Speaker 1: his work on the pandemic, the cancer moon shot, climate change, 457 00:24:51,480 --> 00:24:55,119 Speaker 1: and other key priorities. Could Former President Drum's handling of 458 00:24:55,160 --> 00:24:59,480 Speaker 1: White House documents landaman legal jeopardy. The National Archive says 459 00:24:59,520 --> 00:25:02,960 Speaker 1: that as we covered boxes of presidential records from Trump's 460 00:25:03,040 --> 00:25:07,200 Speaker 1: Maura Lago, Florida home. The development follows reports on Trump's 461 00:25:07,240 --> 00:25:10,680 Speaker 1: habit of tearing up official documents, forcing aids to take 462 00:25:10,800 --> 00:25:14,600 Speaker 1: them back together. Officials warn both actions could violate the 463 00:25:14,640 --> 00:25:19,160 Speaker 1: Presidential Records Act. Democratic Congressman Benny Thompson heads the January 464 00:25:19,320 --> 00:25:24,440 Speaker 1: sixth Committee. Anything that we found uh to be criminal, 465 00:25:25,320 --> 00:25:29,320 Speaker 1: we would not hesitate to make a referral. Jaremon Thompson 466 00:25:29,320 --> 00:25:32,119 Speaker 1: says it's too early to determine whether any documents are missing. 467 00:25:32,520 --> 00:25:35,879 Speaker 1: The U. S. Supreme Court restored Alabama's congressional map, dealing 468 00:25:35,920 --> 00:25:39,200 Speaker 1: a blow to a second heavily black district. The five 469 00:25:39,320 --> 00:25:42,640 Speaker 1: four order insures that Alabama voters will use the original 470 00:25:42,720 --> 00:25:46,800 Speaker 1: Republican drawing map. In the November election, Canadian Prime Minister 471 00:25:46,920 --> 00:25:51,720 Speaker 1: Justin Trudeau blasted trucker protests that are paralyzed Ottawat and 472 00:25:51,840 --> 00:25:54,720 Speaker 1: have now halted commercial traffic to the US. At the 473 00:25:54,760 --> 00:25:58,520 Speaker 1: busiest border crossing between the two countries, the Ambassador Bridge 474 00:25:58,640 --> 00:26:01,960 Speaker 1: that connects Windsor On Area with Detroit was shut down 475 00:26:02,040 --> 00:26:05,640 Speaker 1: in both directions. It's a crucial artery for auto parts 476 00:26:05,680 --> 00:26:09,560 Speaker 1: suppliers and manufacturers. Global News twenty four hours a day 477 00:26:09,640 --> 00:26:12,719 Speaker 1: on air and on Bloomberg Quicktake, powered by more than 478 00:26:12,800 --> 00:26:15,320 Speaker 1: twenty seven hundred journalists and analysts more than a hundred 479 00:26:15,320 --> 00:26:18,440 Speaker 1: twenty countries. I'm Michael Barr, and this is Bloomberg Nathan. 480 00:26:18,560 --> 00:26:25,520 Speaker 1: Thanks Michael. Up to the six thirty six on Wall Street. 481 00:26:25,520 --> 00:26:28,359 Speaker 1: Time for the Bloomberg Sports date with John Stash. Next Nathan, 482 00:26:28,440 --> 00:26:30,560 Speaker 1: Game two of this five game road trip. And like 483 00:26:30,720 --> 00:26:33,080 Speaker 1: the one Saturday at the Lakers, good start for the next. 484 00:26:33,119 --> 00:26:35,200 Speaker 1: They jumped in front by twelve, Like in l A, 485 00:26:35,640 --> 00:26:37,320 Speaker 1: they could not keep it going. I'll scored to the 486 00:26:37,359 --> 00:26:41,280 Speaker 1: fourth quarter thirty one to eighteen and Utah one one thirteen, 487 00:26:41,359 --> 00:26:44,119 Speaker 1: one oh four. Donovan Mitchell scored thirty two points. Julius 488 00:26:44,160 --> 00:26:47,200 Speaker 1: Randall had thirty for the Knicks. Mitchell Robinson nineteen points 489 00:26:47,280 --> 00:26:50,160 Speaker 1: twenty one rebounds, but the Knicks have their third three 490 00:26:50,240 --> 00:26:52,800 Speaker 1: game losing streak of the past month. The trip continues 491 00:26:52,840 --> 00:26:55,359 Speaker 1: tonight game Denver, while the Nets are back home from 492 00:26:55,400 --> 00:26:57,360 Speaker 1: their five game road trip, but they lost all five. 493 00:26:57,400 --> 00:26:59,920 Speaker 1: They'll try to end their eight game losing streak self 494 00:27:00,240 --> 00:27:02,639 Speaker 1: come in having won their last five. Devil's lost in 495 00:27:02,680 --> 00:27:05,720 Speaker 1: Ottawa boor to one. Virginia had a three forner with 496 00:27:05,840 --> 00:27:08,520 Speaker 1: less than a second ago for a one point upset 497 00:27:08,560 --> 00:27:11,879 Speaker 1: win at Duke. A near flawless performance by Nathan Shann 498 00:27:11,880 --> 00:27:14,239 Speaker 1: and the Olympic figures getting short program. He's now an 499 00:27:14,280 --> 00:27:16,960 Speaker 1: overwhelming favor to win the gold medal. The U s 500 00:27:17,040 --> 00:27:20,639 Speaker 1: still seeking its first even though Eileen Goo, one Golden 501 00:27:20,720 --> 00:27:24,320 Speaker 1: freestyle skiing, has lived her entire life in San Francisco, 502 00:27:24,480 --> 00:27:27,320 Speaker 1: she chose to compete for China, where her mother is from. 503 00:27:27,359 --> 00:27:30,359 Speaker 1: Women's hockey Canada beat the US four two. Those two 504 00:27:30,440 --> 00:27:32,400 Speaker 1: are expected to play again next week for the gold medal. 505 00:27:32,720 --> 00:27:35,480 Speaker 1: Dennis Allen named the new coach of the Saints, Love E. Smith. 506 00:27:35,560 --> 00:27:39,280 Speaker 1: The Texans both have previous NFL head coaching experience. Tom 507 00:27:39,320 --> 00:27:43,160 Speaker 1: Brady on his podcast first interviews since announcing his retirement, 508 00:27:43,359 --> 00:27:46,320 Speaker 1: certainly not that I can't do that, um, and it's 509 00:27:46,320 --> 00:27:49,160 Speaker 1: certainly not that I can't play or continue to play. 510 00:27:49,800 --> 00:27:52,120 Speaker 1: But I think there's an important choice for me to make, 511 00:27:52,200 --> 00:27:54,760 Speaker 1: you know, and I think the choices, you know, everything 512 00:27:54,880 --> 00:27:58,200 Speaker 1: certainly comes to the cost, and the cost is one 513 00:27:58,200 --> 00:28:00,520 Speaker 1: of my missing out on other aspects of light. After 514 00:28:00,600 --> 00:28:03,320 Speaker 1: that Sunday coming out of retirement, Brady said, you never 515 00:28:03,480 --> 00:28:06,400 Speaker 1: soon never John dash Our bloom hurts for us, Nickol 516 00:28:06,760 --> 00:28:10,320 Speaker 1: keeping us on tenter hooks. Thank you, John sixty seven 517 00:28:10,400 --> 00:28:12,480 Speaker 1: on Wall Street Time. Now to take a look at stocks. 518 00:28:12,520 --> 00:28:14,600 Speaker 1: Some of the names moving in the pre market. Never 519 00:28:14,640 --> 00:28:17,280 Speaker 1: have to wait for Bloomberg Radio and TV Markets correspondent 520 00:28:17,320 --> 00:28:20,760 Speaker 1: Creating Gupta. Not much happening in the broader stock market, creedy, 521 00:28:20,840 --> 00:28:24,720 Speaker 1: But lots going on this morning in the tech space. Yeah, 522 00:28:24,840 --> 00:28:27,080 Speaker 1: underneath the hood. I think one of the biggest stories 523 00:28:27,119 --> 00:28:29,359 Speaker 1: this morning has to be and Video n v D 524 00:28:29,480 --> 00:28:31,840 Speaker 1: a s R taker down just I have two percent 525 00:28:32,240 --> 00:28:35,400 Speaker 1: after that's abandoning its purchase of arm from SoftBank. That's, 526 00:28:35,400 --> 00:28:37,800 Speaker 1: of course, according to people familiar with the matter. Now 527 00:28:37,960 --> 00:28:39,840 Speaker 1: it looks like soft Bank is actually going to be 528 00:28:40,000 --> 00:28:43,280 Speaker 1: taking ARM, which of course we know has been under 529 00:28:43,320 --> 00:28:45,960 Speaker 1: a lot of that regulatory pressure, and spinning it off 530 00:28:46,120 --> 00:28:49,040 Speaker 1: into its own I p O. This is significant, Nathan, 531 00:28:49,080 --> 00:28:51,720 Speaker 1: because it means that some of the vertical integration that 532 00:28:51,760 --> 00:28:54,000 Speaker 1: and Video was really hoping for the idea that not 533 00:28:54,120 --> 00:28:56,880 Speaker 1: only would they manufacture chips, but also have the technology 534 00:28:57,160 --> 00:28:59,640 Speaker 1: to design them, which is what ARM does. Well, now 535 00:28:59,680 --> 00:29:02,040 Speaker 1: they don't have either of us, and Video shares really 536 00:29:02,160 --> 00:29:03,920 Speaker 1: taking the hits for that. This morning, m v D 537 00:29:04,080 --> 00:29:07,680 Speaker 1: a down two percent, and it's major peer Advanced micro 538 00:29:07,800 --> 00:29:10,720 Speaker 1: Devices a m D down in sympathy as well to 539 00:29:10,800 --> 00:29:13,320 Speaker 1: the tune of seven tenths of one percent. So a 540 00:29:13,400 --> 00:29:15,480 Speaker 1: little bit of pain here in the chip sector. We 541 00:29:15,520 --> 00:29:17,880 Speaker 1: should also talk about Peloton, though, which I guess kind 542 00:29:17,920 --> 00:29:20,480 Speaker 1: of counts as a tech company. MAYE p t O 543 00:29:20,800 --> 00:29:23,440 Speaker 1: N is your ticker down thirteen percent. This of course 544 00:29:23,480 --> 00:29:26,520 Speaker 1: comes after the Wall Street Journal reporting the CEO John 545 00:29:26,560 --> 00:29:30,440 Speaker 1: Foley will step down and become executive chair, also reporting 546 00:29:30,560 --> 00:29:34,160 Speaker 1: that a Peloton will shed about hundred jobs. You know, 547 00:29:34,360 --> 00:29:37,920 Speaker 1: this follows the activist letter from Blackwalls urging John Folly 548 00:29:38,000 --> 00:29:40,080 Speaker 1: to take a step down and to consider a sale. 549 00:29:40,080 --> 00:29:41,800 Speaker 1: It looks like all of those things are kind of 550 00:29:41,880 --> 00:29:44,880 Speaker 1: coming to fruition. P T O N down thirteen percent, Nathan, 551 00:29:45,120 --> 00:29:47,960 Speaker 1: A lot of headlines as we await Peloton's earnings after 552 00:29:48,040 --> 00:29:51,440 Speaker 1: the bell today. What else you're looking at this morning, Well, 553 00:29:51,480 --> 00:29:53,840 Speaker 1: let's just talk about General Motors here. GM is your 554 00:29:53,840 --> 00:29:56,440 Speaker 1: taker down four point four percent. This comes after Morgan 555 00:29:56,520 --> 00:30:00,760 Speaker 1: Stanley analyst Adam Jonas cuts the stocks equally from overweight 556 00:30:00,920 --> 00:30:03,760 Speaker 1: depending a lower than expected two out look. We know 557 00:30:03,920 --> 00:30:06,200 Speaker 1: those car companies have been under a lot of pressure, 558 00:30:06,560 --> 00:30:09,160 Speaker 1: especially from those chips. If you want to earning stories here, 559 00:30:09,240 --> 00:30:11,280 Speaker 1: take to T T W o A is your taker 560 00:30:11,360 --> 00:30:14,080 Speaker 1: down two point four percent. This comes after they missed 561 00:30:14,200 --> 00:30:16,920 Speaker 1: their earnings once again. Video game companies also under a 562 00:30:16,960 --> 00:30:19,920 Speaker 1: lot of pressure. Take two most recently looking to buy 563 00:30:20,120 --> 00:30:22,720 Speaker 1: Zinga as well. And I'll wrap it up here with BP, 564 00:30:22,920 --> 00:30:25,280 Speaker 1: which I think is also a pretty important story this morning, 565 00:30:25,400 --> 00:30:28,680 Speaker 1: up one and a half percent after promising another one 566 00:30:28,760 --> 00:30:32,120 Speaker 1: point five billion dollar buyback. Nathan Alright, Bloomberg Radio on 567 00:30:32,160 --> 00:30:35,760 Speaker 1: TV Markets correspondent, Pretty good, done with the pre market update. 568 00:30:35,920 --> 00:30:38,000 Speaker 1: Thank you as always, and as we take a look 569 00:30:38,040 --> 00:30:40,120 Speaker 1: at stocks as a whole ahead of this Tuesday morning 570 00:30:40,200 --> 00:30:43,280 Speaker 1: open futures moving to touch solower now with SMP futures 571 00:30:43,320 --> 00:30:46,840 Speaker 1: down six point, Staff futures down seven NASDAC futures leading 572 00:30:46,880 --> 00:30:49,840 Speaker 1: declines now they're down thirty three points. Big moves still 573 00:30:49,960 --> 00:30:52,360 Speaker 1: in the bond space this morning, with the tenure treasury 574 00:30:52,440 --> 00:30:56,080 Speaker 1: down seven thirty seconds, the yield one point on the tenure. 575 00:30:56,400 --> 00:30:58,080 Speaker 1: Yield on the two year right now one point three 576 00:30:58,160 --> 00:31:00,680 Speaker 1: two big drops and crewed as well, with the nimex 577 00:31:00,720 --> 00:31:06,600 Speaker 1: down one barrel. Brent is down two nine one cents. 578 00:31:06,600 --> 00:31:10,240 Speaker 1: We're gonna talk about the geopolitics Russian Ukraine on with 579 00:31:10,720 --> 00:31:13,320 Speaker 1: trade tensions between the US and China. It's all coming 580 00:31:13,400 --> 00:31:16,800 Speaker 1: up shortly. We'll check in with Bloomberg Washington correspondent Joe 581 00:31:16,880 --> 00:31:23,400 Speaker 1: Matthew from the nation's capital. This is Bloomberg Blomberg eleven 582 00:31:23,440 --> 00:31:25,520 Speaker 1: three oh Weather clouds from now, gradual clearing today with 583 00:31:25,520 --> 00:31:26,800 Speaker 1: the high in the low forties, will be in the 584 00:31:26,880 --> 00:31:30,600 Speaker 1: upper forties tomorrow, mostly sunny, partial sunshine. High your fifty 585 00:31:30,640 --> 00:31:37,560 Speaker 1: on Thursday, currently thirty six degrees in Central Park. Markets. 586 00:31:37,680 --> 00:31:40,760 Speaker 1: Headlines and breaking news twenty four hours a day at 587 00:31:40,800 --> 00:31:44,200 Speaker 1: Bloomberg dot Com. The Bloomberg Business at and at Bloomberg 588 00:31:44,240 --> 00:31:54,400 Speaker 1: Quick Tape, He's a Bloomberg Business Flash and I'm Karen Moscow. 589 00:31:54,560 --> 00:31:57,480 Speaker 1: Futures turn lower this morning. We're watching earnings crossed the 590 00:31:57,480 --> 00:31:59,440 Speaker 1: Bloomberg from fine. So we go to the first word 591 00:31:59,480 --> 00:32:02,600 Speaker 1: breaking new stands for today's morning call, and here's Bill Maloney. Bill, 592 00:32:02,680 --> 00:32:06,240 Speaker 1: good morning, and good morning Karen. Modest losses in the 593 00:32:06,320 --> 00:32:08,479 Speaker 1: US futures right now at death futures down twenty one 594 00:32:08,560 --> 00:32:11,120 Speaker 1: points as abs drop eight. Well then as that futures 595 00:32:11,120 --> 00:32:14,120 Speaker 1: are now lower by forty the US Channiel at one 596 00:32:14,160 --> 00:32:17,240 Speaker 1: point nine four percent, Golden oil or trading lower, and 597 00:32:17,360 --> 00:32:20,840 Speaker 1: Bitcoin is little changed. Hong Kong fell one percent overnight, 598 00:32:20,880 --> 00:32:23,480 Speaker 1: while upm markets are in the green this morning, and 599 00:32:23,600 --> 00:32:25,600 Speaker 1: back in the US on the economic front, day thirty 600 00:32:25,600 --> 00:32:28,040 Speaker 1: at the U S trade balance after develout US to 601 00:32:28,080 --> 00:32:31,720 Speaker 1: night em gine EPs beat stimates, while Take two missed estimates. 602 00:32:32,080 --> 00:32:34,840 Speaker 1: And regarding earnings this morning, you mentioned fives or fives 603 00:32:34,920 --> 00:32:37,560 Speaker 1: er was mixed. Is trading lower here in the pre market, 604 00:32:37,800 --> 00:32:41,400 Speaker 1: and Dupot beat estimates. In other news, Peltons fully is 605 00:32:41,440 --> 00:32:45,040 Speaker 1: stepping down as the CEO and Cathy would dumped a 606 00:32:45,120 --> 00:32:48,880 Speaker 1: hundred forty two million of Twitter stock wrapping things up. 607 00:32:48,880 --> 00:32:51,280 Speaker 1: Air products cut to market reform at b OMO, while 608 00:32:51,360 --> 00:32:55,200 Speaker 1: zimmer Biomett was cut to hold over at Canichord. Live 609 00:32:55,320 --> 00:32:58,120 Speaker 1: from the first breaking news doest gone, Bill Maloney, Karen Helry, Bill, 610 00:32:58,200 --> 00:32:59,920 Speaker 1: thank you, and here live breaking news over your bloom 611 00:33:00,000 --> 00:33:03,600 Speaker 1: our time, Squawk on your terminal, squeu A w K 612 00:33:03,840 --> 00:33:07,240 Speaker 1: and again fightser. It's outlook for revenue for the year 613 00:33:07,400 --> 00:33:09,760 Speaker 1: coming in lower than analysts we're looking for, and the 614 00:33:09,920 --> 00:33:13,000 Speaker 1: shares they are lower, but they've been trimming their declines 615 00:33:13,120 --> 00:33:16,080 Speaker 1: now down about six tenths of upper cent in early training. 616 00:33:16,120 --> 00:33:18,480 Speaker 1: That's a Bloomberg business flash. Now we're smuggled bar with 617 00:33:18,600 --> 00:33:21,160 Speaker 1: more on what's going on around the world. Michael, thank 618 00:33:21,200 --> 00:33:24,280 Speaker 1: you very much, Karen. President Joe Biden said the nord 619 00:33:24,440 --> 00:33:28,000 Speaker 1: Stream to natural gas pipeline between Russia and Germany would 620 00:33:28,040 --> 00:33:32,000 Speaker 1: be stopped if President Putin orders an invasion of Ukraine. Memhile, 621 00:33:32,080 --> 00:33:34,800 Speaker 1: French president of Chrome visits Kiev today, a day after 622 00:33:34,920 --> 00:33:38,320 Speaker 1: meeting with Putin in Moscow. COVID cases are falling across 623 00:33:38,360 --> 00:33:41,360 Speaker 1: the nation and now some states, including New Jersey and Connecticut, 624 00:33:41,680 --> 00:33:44,800 Speaker 1: are announcing masks will no longer be required in schools 625 00:33:45,120 --> 00:33:47,920 Speaker 1: and the Beijing Winter Olympics, Russia has the most medals 626 00:33:48,000 --> 00:33:51,320 Speaker 1: overall at eight. The US has increased its medal account 627 00:33:51,480 --> 00:33:55,080 Speaker 1: for all silvers. In the NBA, the Knicks and Wizards lost, 628 00:33:55,160 --> 00:33:58,600 Speaker 1: The Warriors won. In the NHL, The Devil's Lost. Global 629 00:33:58,680 --> 00:34:01,120 Speaker 1: News twenty four hours a day on air and on 630 00:34:01,200 --> 00:34:05,360 Speaker 1: Bloomberg Quicktake, powered by more than undred journalists and analysts 631 00:34:05,480 --> 00:34:08,000 Speaker 1: more than a hundred twenty countries. I'm Michael barn This 632 00:34:08,160 --> 00:34:13,000 Speaker 1: is Bloomberg. The following commentary is from Bloomberg Opinion. Can 633 00:34:13,080 --> 00:34:15,319 Speaker 1: the FDA get it right on Shots for young kids? 634 00:34:15,760 --> 00:34:19,480 Speaker 1: I'm Lisa Jarvis, a columnist for Bloomberg Opinion. An advisory 635 00:34:19,480 --> 00:34:22,160 Speaker 1: committee will meet next week to discuss whether FDA should 636 00:34:22,160 --> 00:34:25,920 Speaker 1: authorize Visor's COVID nineteen vaccine for kids under five. What 637 00:34:26,040 --> 00:34:28,520 Speaker 1: little data we have on the shots is muddled. Two 638 00:34:28,600 --> 00:34:30,799 Speaker 1: doses work well in kids under two, but are less 639 00:34:30,920 --> 00:34:33,279 Speaker 1: potent in two to four year olds. Visor hopes the 640 00:34:33,360 --> 00:34:36,120 Speaker 1: three shots series will be more effective, but FDA seems 641 00:34:36,160 --> 00:34:38,760 Speaker 1: to want to get vaccines into little arms without confirming 642 00:34:38,840 --> 00:34:43,240 Speaker 1: that strategy works. Confused, so are some pediatricians and parents. 643 00:34:43,760 --> 00:34:46,399 Speaker 1: The FDA's approach could make it harder for pediatricians when 644 00:34:46,440 --> 00:34:49,560 Speaker 1: parents ask about their toddler's risk of serious infection, or 645 00:34:49,640 --> 00:34:52,040 Speaker 1: even if it's safe to allow indoor plateates after kids 646 00:34:52,120 --> 00:34:55,320 Speaker 1: have two shots. Getting the messaging right on vaccinations for 647 00:34:55,440 --> 00:34:58,480 Speaker 1: kids is critical. A Kaiser Family Foundation poll found that 648 00:34:58,560 --> 00:35:00,919 Speaker 1: only thirty one of parents plan to get their child 649 00:35:01,040 --> 00:35:05,600 Speaker 1: under five vaccinated right away. Communication about vaccine effectiveness needs 650 00:35:05,600 --> 00:35:08,399 Speaker 1: to be clear and simple. The FDA can do its 651 00:35:08,440 --> 00:35:11,000 Speaker 1: part by making sure that any decision on COVID vaccines 652 00:35:11,080 --> 00:35:14,400 Speaker 1: for kids is strongly supported by data. I'm Lisa Jarvis. 653 00:35:14,520 --> 00:35:17,120 Speaker 1: For more opinion, please go to Bloomberg dot com, Slash 654 00:35:17,239 --> 00:35:20,480 Speaker 1: Opinion or opie I n go on the Bloomberg Terminal 655 00:35:21,040 --> 00:35:24,920 Speaker 1: has been Bloomberg Opinion and Bloomberg Opinion commentaries can be 656 00:35:25,000 --> 00:35:27,640 Speaker 1: heard every weekday at this time, and terminal customers can 657 00:35:27,719 --> 00:35:30,360 Speaker 1: read more at O P I n go. It is 658 00:35:30,400 --> 00:35:32,480 Speaker 1: six fifty on Wall Street. We turned to news and 659 00:35:32,600 --> 00:35:35,279 Speaker 1: science and technology now with the Bloomberg and j I 660 00:35:35,360 --> 00:35:38,440 Speaker 1: T STEM Report brought to you buy New Jersey Institute 661 00:35:38,480 --> 00:35:42,279 Speaker 1: of Technology transforming computing professionals into data scientists to meet 662 00:35:42,320 --> 00:35:44,920 Speaker 1: demand in this fast growing field. Learn more at n 663 00:35:45,000 --> 00:35:47,560 Speaker 1: j I, T, DOT, E, d U, slash data science 664 00:35:47,880 --> 00:35:51,120 Speaker 1: now Here's just making news and science, technology, engineering, and math. 665 00:35:51,680 --> 00:35:54,720 Speaker 1: Has you been reporting? Some US governors are taking broad 666 00:35:54,800 --> 00:35:58,840 Speaker 1: steps to discontinue school masking. They say the pandemic precaution 667 00:35:59,280 --> 00:36:03,600 Speaker 1: is outweighed by widespread vaccination, lower transmission, and the need 668 00:36:03,719 --> 00:36:07,600 Speaker 1: for unimpeded instruction. New Jersey and Connecticut have set expiration 669 00:36:07,680 --> 00:36:10,360 Speaker 1: dates for mask mandates. Similar moves may come soon in 670 00:36:10,440 --> 00:36:13,560 Speaker 1: New York. Hong Kong is ramping up restrictions as it 671 00:36:13,600 --> 00:36:17,320 Speaker 1: finds an unprecedented coronavirus operate. The city is extending limits 672 00:36:17,360 --> 00:36:19,720 Speaker 1: to private premises for the first time in an attempt 673 00:36:19,800 --> 00:36:23,279 Speaker 1: to keep people from socializing. Multi household gatherings will be 674 00:36:23,400 --> 00:36:26,640 Speaker 1: limited to two families. Hong Kong's also expanding the list 675 00:36:26,719 --> 00:36:30,560 Speaker 1: of venues included in its vaccine mandate, and Amazon is 676 00:36:30,600 --> 00:36:34,040 Speaker 1: more than doubling its maximum based salary for employees from 677 00:36:34,080 --> 00:36:37,600 Speaker 1: a hundred sixty thousand to three hundred fifty thousand dollars. 678 00:36:37,880 --> 00:36:40,479 Speaker 1: In a memo, the company sided the competitive labor market 679 00:36:40,520 --> 00:36:43,400 Speaker 1: and the need to attract and retain top talent. Amazon 680 00:36:43,600 --> 00:36:47,400 Speaker 1: is also increasing the compensation ranges of most jobs globally, 681 00:36:47,760 --> 00:36:50,960 Speaker 1: and changing the timing of stock awards to align with promotions. 682 00:36:51,239 --> 00:36:53,760 Speaker 1: And that's a Bloomberg and j I t Stem report. 683 00:36:53,880 --> 00:36:56,600 Speaker 1: Nathan all right, Karen, thanks rely from the Bloomberg Interactive 684 00:36:56,600 --> 00:36:58,680 Speaker 1: Broker Studios or at six fifty two on Wall Street 685 00:36:58,719 --> 00:37:00,279 Speaker 1: Time Now to check what's going on in the see 686 00:37:00,560 --> 00:37:02,680 Speaker 1: Some of the top stories from our nation's capital include 687 00:37:02,680 --> 00:37:05,000 Speaker 1: the US accusing China coming up short and it's trade 688 00:37:05,080 --> 00:37:08,400 Speaker 1: deal obligations, the White House Science Advisor resigning after an 689 00:37:08,400 --> 00:37:11,600 Speaker 1: outcry over a hosta workplace, and President Biden to announce 690 00:37:11,640 --> 00:37:14,960 Speaker 1: a new electric vehicle charger plant in Tennessee. Also making 691 00:37:15,000 --> 00:37:18,560 Speaker 1: news the President warning Nordstream two will end if Russia 692 00:37:18,600 --> 00:37:21,719 Speaker 1: invades Ukraine. For more, we're joined by Bloomberg Washington correspondent 693 00:37:21,800 --> 00:37:25,600 Speaker 1: Joe Matthew, host of Sound on Here on Bloomberg Radio, 694 00:37:25,640 --> 00:37:29,520 Speaker 1: and this morning, after the President's meeting with German Chancellor 695 00:37:29,600 --> 00:37:34,040 Speaker 1: Olof Schultz, as the geopolitical tensions continued, Joe is or 696 00:37:34,200 --> 00:37:37,640 Speaker 1: I should say, are the US and Germany on the 697 00:37:37,719 --> 00:37:39,960 Speaker 1: same page when it comes to confronting Russia, Well, there 698 00:37:40,000 --> 00:37:42,399 Speaker 1: are a lot of questions about that. With stuff thinking 699 00:37:42,520 --> 00:37:45,719 Speaker 1: a straight answer in this news conference yesterday, Nathan. Of course, 700 00:37:45,760 --> 00:37:47,879 Speaker 1: the two had their meeting in the Oval, first time 701 00:37:47,960 --> 00:37:50,319 Speaker 1: for Chancellor Schultz at least in that capacity, to sit 702 00:37:50,400 --> 00:37:53,200 Speaker 1: down with Joe Biden. They spent about the belt better 703 00:37:53,280 --> 00:37:55,040 Speaker 1: part of two hours, will say, and then the joint 704 00:37:55,120 --> 00:37:59,560 Speaker 1: news conference followed very carefully choreographed. It did seem to 705 00:37:59,640 --> 00:38:01,720 Speaker 1: work or both of them. But as we look, certainly 706 00:38:01,760 --> 00:38:03,400 Speaker 1: with their respect if all Banni, it says, and you 707 00:38:03,440 --> 00:38:06,319 Speaker 1: look at what was said though, uh, specific to nord 708 00:38:06,440 --> 00:38:09,600 Speaker 1: Stream too and sanctions that we've been kind of waiting 709 00:38:09,680 --> 00:38:11,880 Speaker 1: for the Germans to come around on. President Biden was 710 00:38:11,960 --> 00:38:15,440 Speaker 1: definitive and said, quote, we will bring it to an end, 711 00:38:15,520 --> 00:38:18,680 Speaker 1: referring to the pipeline nord Stream too, if Russia were 712 00:38:18,719 --> 00:38:21,279 Speaker 1: to invade Ukraine, which it says it's not planning. But 713 00:38:22,000 --> 00:38:26,719 Speaker 1: despite repeated questions from reporters, the Chancellor actually never said 714 00:38:26,800 --> 00:38:29,640 Speaker 1: the name nord Stream two out loud. He never breathed 715 00:38:29,680 --> 00:38:32,239 Speaker 1: the name. Reporters were quick to point that out. He 716 00:38:32,600 --> 00:38:36,840 Speaker 1: He did agree, though, with President Biden on every statement. 717 00:38:36,880 --> 00:38:39,520 Speaker 1: At one point he even went broke into English for emphasis. 718 00:38:39,560 --> 00:38:42,200 Speaker 1: He said, quote, we are acting together. We are absolutely 719 00:38:42,320 --> 00:38:45,600 Speaker 1: united and we will not take different steps. Germany's foreign 720 00:38:45,600 --> 00:38:47,960 Speaker 1: minister went further to say the country is willing to 721 00:38:48,080 --> 00:38:51,719 Speaker 1: pay a high economic price if Russia chooses to cut 722 00:38:51,760 --> 00:38:55,439 Speaker 1: off gas supplies to Europe. Uh Schultz echoed those words 723 00:38:55,440 --> 00:38:58,600 Speaker 1: in an interview with CNN last evening. So he didn't 724 00:38:58,600 --> 00:39:00,120 Speaker 1: want to come right out with it, but we we 725 00:39:00,239 --> 00:39:02,440 Speaker 1: understand what he meant, and it seemed to be a 726 00:39:02,560 --> 00:39:08,040 Speaker 1: successful conversation. Schultz now goes to UH to keep and 727 00:39:08,200 --> 00:39:10,239 Speaker 1: to meet with Vladimir Putin in the next week. So 728 00:39:10,320 --> 00:39:13,919 Speaker 1: these conversations, Nathan will continue. Yeah, what about the conversations 729 00:39:13,920 --> 00:39:17,360 Speaker 1: when it comes to sanctions overall, there's still some question 730 00:39:17,440 --> 00:39:20,720 Speaker 1: on Capitol Hill as to whether sanctions should be triggered 731 00:39:20,840 --> 00:39:23,759 Speaker 1: now or after a potential invasion. Yeah, you put your 732 00:39:23,760 --> 00:39:25,480 Speaker 1: finger on it. This appears to be the sticking point. 733 00:39:25,520 --> 00:39:27,960 Speaker 1: Everyone wants to have sanctions that quote unquote hurt. You know, 734 00:39:28,040 --> 00:39:31,359 Speaker 1: that caused pain. The question is when and what triggers them, 735 00:39:31,880 --> 00:39:34,759 Speaker 1: And this has become a partisan divide. Democrats say, no, 736 00:39:35,080 --> 00:39:38,960 Speaker 1: you'll wait until until a possible invasion. You hold everything 737 00:39:39,320 --> 00:39:41,839 Speaker 1: as a deterrent and make it hurt if he used 738 00:39:41,880 --> 00:39:45,200 Speaker 1: to cross the border. Republicans say that Vladimir Putin has 739 00:39:45,239 --> 00:39:48,359 Speaker 1: done quite enough to disrupt world order right now. He's 740 00:39:48,400 --> 00:39:51,520 Speaker 1: got a hundred and thirty thousand troops on the border. Uh, 741 00:39:51,880 --> 00:39:54,719 Speaker 1: he's causing a lot of issues that that are interfering 742 00:39:55,680 --> 00:39:59,279 Speaker 1: with with diplomacy and and even you could argue with 743 00:39:59,400 --> 00:40:03,960 Speaker 1: the economy. It's impacting oil prices, for instance. So the 744 00:40:04,040 --> 00:40:06,640 Speaker 1: Republicans say, hit him now and save something big for 745 00:40:06,719 --> 00:40:09,600 Speaker 1: later if he is to to invade. And and we 746 00:40:09,719 --> 00:40:11,960 Speaker 1: don't know of any breakthrough on that yet. One thing 747 00:40:12,000 --> 00:40:14,440 Speaker 1: I will mention to you, Nathan, is after the Chancellor 748 00:40:14,560 --> 00:40:16,279 Speaker 1: left the White House yesterday, held a dinner at the 749 00:40:16,360 --> 00:40:19,440 Speaker 1: German embassy here in Washington, d C. Last night, the 750 00:40:19,920 --> 00:40:23,720 Speaker 1: chair and ranking member of the Senate Foreign Relations Committee. 751 00:40:23,960 --> 00:40:26,640 Speaker 1: We're both there, Senators Menendez and rich they're the ones 752 00:40:26,680 --> 00:40:29,799 Speaker 1: who are working on the sanctions package now. And you'd 753 00:40:29,840 --> 00:40:31,480 Speaker 1: like to think they made some headway in that room 754 00:40:31,560 --> 00:40:35,440 Speaker 1: last night. All right, Well, on top of the tensions 755 00:40:35,560 --> 00:40:40,640 Speaker 1: over Russia, Joe, we've got increased renewed tensions with China. 756 00:40:40,760 --> 00:40:42,759 Speaker 1: Only about thirty seconds left here. What's going on the 757 00:40:42,840 --> 00:40:45,480 Speaker 1: trade front. Well, this has to do with Phase one, 758 00:40:45,600 --> 00:40:48,040 Speaker 1: the Phase one trade deal that that goes back to 759 00:40:48,120 --> 00:40:51,040 Speaker 1: the Trump administration. The Biden administration says that China is 760 00:40:51,080 --> 00:40:53,359 Speaker 1: not doing its part. It's not buying as much as 761 00:40:53,400 --> 00:40:55,440 Speaker 1: it pledged to an extra two hundred billion dollars in 762 00:40:55,800 --> 00:40:58,719 Speaker 1: US agricultures. As a result, the tariffs are gonna stay here. 763 00:40:59,400 --> 00:41:01,320 Speaker 1: Uh And and we don't know that there's gonna be 764 00:41:01,360 --> 00:41:04,560 Speaker 1: any real sign of China complying with that number. So 765 00:41:05,520 --> 00:41:08,520 Speaker 1: terriffs from the Trump administration. Nathan remain a reality in 766 00:41:08,560 --> 00:41:11,839 Speaker 1: the Biden administration. Lots to get to on Bloomberg Sound 767 00:41:11,840 --> 00:41:14,000 Speaker 1: On with Joe Matthew of coming up five pm. Wall 768 00:41:14,080 --> 00:41:17,399 Speaker 1: Street Time here on Bloomberg Radio. Reminder, you can listen 769 00:41:17,400 --> 00:41:20,480 Speaker 1: to Bloomberg Radio in Washington Bloomberg one and one oh 770 00:41:20,520 --> 00:41:23,759 Speaker 1: five point seven FM h D two. Karen Nathan, It 771 00:41:23,880 --> 00:41:25,840 Speaker 1: is six fifties six on Wall Street. And this is 772 00:41:25,880 --> 00:41:29,520 Speaker 1: Bloomberg Daybreak. In February is Black History Month, and every 773 00:41:29,600 --> 00:41:33,080 Speaker 1: day this month we're celebrating significant moments in US black history. 774 00:41:33,480 --> 00:41:37,359 Speaker 1: Now with your installment for February eighth, here's Bloomberg's Rena Young. 775 00:41:37,840 --> 00:41:41,120 Speaker 1: On this day in Black History, Oprah Winfrey becomes the 776 00:41:41,200 --> 00:41:45,359 Speaker 1: first African American woman to host a nationally syndicated talk show. 777 00:41:45,800 --> 00:41:48,560 Speaker 1: It started out as a local show called Am Chicago 778 00:41:48,719 --> 00:41:53,800 Speaker 1: in three and on February eighth, six, the Oprah Winfrey 779 00:41:53,840 --> 00:41:59,000 Speaker 1: Show officially launched nationally, eventually becoming the highest rated television 780 00:41:59,120 --> 00:42:02,600 Speaker 1: program of its kind in history. It aired from Chicago 781 00:42:02,719 --> 00:42:06,799 Speaker 1: until eleven and grossed more than six billion dollars during 782 00:42:06,840 --> 00:42:10,040 Speaker 1: its twenty five year run. Oprah is well known as 783 00:42:10,080 --> 00:42:13,640 Speaker 1: an entrepreneur and philanthropist. She famously gave away a car 784 00:42:13,760 --> 00:42:16,719 Speaker 1: to every audience member one day in two thousand four, 785 00:42:17,120 --> 00:42:20,840 Speaker 1: opened the Oprah Winfrey Leadership Academy for Girls in South Africa, 786 00:42:21,280 --> 00:42:25,120 Speaker 1: and officially joined the Bloomberg Billionaires Index in twenty eighteen. 787 00:42:25,680 --> 00:42:29,400 Speaker 1: She now leads the Oprah Winfrey Network, jointly owned by her, 788 00:42:29,480 --> 00:42:34,080 Speaker 1: Harper Studios and Discovery. That's Today in Black History. I'm 789 00:42:34,120 --> 00:42:37,800 Speaker 1: renit to Young Bloomberg Radio all right, reny to thank you. 790 00:42:37,960 --> 00:42:42,160 Speaker 1: And Bloomberg Surveillance is straight Ahead with Tom King, Jonathan Farrell, 791 00:42:42,239 --> 00:42:46,040 Speaker 1: and Lisa Abramawats for Nathan Hager. I'm Teren Moscow and 792 00:42:46,320 --> 00:42:47,520 Speaker 1: this is Bloomberg