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Speaker 1: Live from the Bloomberg indirector Workers studios. This is Bloomberg

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Speaker 1: day Break for Tuesday, April nineteen two. Coming up this hour,

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Speaker 1: Ukraine says Russia's assault on the don Voss region is underway.

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Speaker 1: Most major US airlines are no longer requiring mess on

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Speaker 1: domestic flights. A top FED official says a seventy five

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Speaker 1: basis point hike may be in play, and Netflix, IBM,

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Speaker 1: and Johnson and Johnson all report earnings today. New York

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Speaker 1: Mayor Adam says the city is not ready yet to

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Speaker 1: bring back into her mask Man dates. Plus, there's a

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Speaker 1: rise in migrants, excepting across the US Mexico border. I

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Speaker 1: like la bar more ahead, I'm done finished ower sports.

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Speaker 1: Yankees are in Detroit that I've met, have a double

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Speaker 1: lead with the Giants, NBA playoff wins for Philaelpia Dallas

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Speaker 1: and Golden Space. That's all straight ahead on Bloomberg day

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Speaker 1: Break on Bloomberg E Living three O, New York, Bloomberg one, Washington,

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Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties,

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Speaker 1: San Francisco, Sirius x M one nineteen and around the

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Speaker 1: world on Bloomberg Radio dot com via The Bloomberg Business.

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Speaker 1: Good morning, I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak

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Speaker 1: brought to you by hc Waynewright. Register now for the

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Speaker 1: hc W Global Investment Conference, a hybrid event one to six.

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Speaker 1: Go to hc W Events dot Com. HCW reserves the

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Speaker 1: right in discretion to accept the reject registration or admission. Well.

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Speaker 1: US futures are lower this morning, and we're at five

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Speaker 1: oh one on Wall Street, and we checked the markets

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Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg SMP

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Speaker 1: Future is down five points. Dal Future is a little

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Speaker 1: change NOWADAY Future is down forty five ten. Your treasury

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Speaker 1: down eleven thirty seconds, YEL two point eight nine per cent.

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Speaker 1: Nathan Karen will have more on the markets in a minute. First,

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Speaker 1: we need to bring you the latest on the war.

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Speaker 1: Rusha's assault on Ukraine's don Boss region has begun. Ukrainian

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Speaker 1: President Vladimir Zelinski says they will not give up without

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Speaker 1: a fight. Amy Morris has details from our bloombergs room

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Speaker 1: and Wash Shington. Zelinsky said Russian forces have launched a

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Speaker 1: new campaign to conquer the dun Boss region in the

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Speaker 1: east of Ukraine. A significant part of the entire Russian

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Speaker 1: army is now concentrated on this offensive. No matter how

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Speaker 1: many Russian troops are driven there, we will fight. Meanwhile,

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Speaker 1: the US military will start training Ukrainian troops on how

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Speaker 1: to operate the howitzers that the US is sending Ukraine.

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Speaker 1: Pentagon spokesman John Kirby that training will occur outside of

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Speaker 1: Ukraine and then then we reintroduced back into their country

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Speaker 1: to train their colleagues. This as the remaining defenders of

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Speaker 1: Mariopol are surrounded by Kremlin forces, but they have not

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Speaker 1: surrendered that keyport city in Washington. I'm Amy Morris Bloomberg daybreak,

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Speaker 1: All right, Amy, thank you about President Joe Biden will

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Speaker 1: hold a call with key allies later today to discuss Ukraine. Meanwhile,

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Speaker 1: the US has backed off any suggestion that its officials

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Speaker 1: with boycott Group of Twenty meetings this week if Russia

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Speaker 1: takes part. The Treasury to Irvin, says Secretary Chanted Yellen,

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Speaker 1: will participate in some sessions this week well. The war

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Speaker 1: has in part led the World Bank to cut its

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Speaker 1: two economic outlook Karen and the Bank's chief economist Carmen

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Speaker 1: Reinhart added she would not rule out further downgrades. In

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Speaker 1: an interview with Bloomberg, Reinhart laid out the downside risks

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Speaker 1: facing the global economy, array of disruptions from China's new lockdowns,

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Speaker 1: from the impacts yet to be fully felt of the

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Speaker 1: Russia Ukraine war on on food prices, on global supply chains,

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Speaker 1: and if you know, bad came to worse, Uh, could

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Speaker 1: there be another episode of financial contagion? The World Bank

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Speaker 1: Chief economist Carmen Reinhart says growth will slow to three

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Speaker 1: point two percent from a January prediction of four point

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Speaker 1: one percent. Meanwhile, Nathan Saying, Louis FED President James Bullard

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Speaker 1: said the FED needs to move quickly to raise rates

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Speaker 1: to around three and a half percent this year. He

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Speaker 1: also says that central bank should not roll out rate

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Speaker 1: increases of seventy five basis points to fight inflation. I

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Speaker 1: would point out that uh cycle UH where we raised

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Speaker 1: the policy rate three basis points in the year, and

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Speaker 1: in that cycle, UH, there was a seventy five basis

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Speaker 1: points increase at one point UM. So I wouldn't rule

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Speaker 1: it out, but it's not my base case here, saying

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Speaker 1: theist FED president James Bullard also said that talk of

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Speaker 1: a US recession is premature. Well, Bullard's hawk ish comments

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Speaker 1: maybe piling onto weakness for a traditional haven currency. The

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Speaker 1: Japanese yen is weaker against the dollar for a thirteenth

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Speaker 1: straight day. It's extending its longest losing streak in at

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Speaker 1: least a half century. Right now, the end is trading

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Speaker 1: at one point three four against the dollar. Now. The

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Speaker 1: latest on the pandemic Nathan and a major development in

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Speaker 1: the air, The Transportation Security Administration says it will no

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Speaker 1: longer enforce the COVID mask mandate on public transportation, and

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Speaker 1: Bloombergette Baxter has the story. This after a Florida judge

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Speaker 1: struck down the remainder of the mandate, saying the CDC

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Speaker 1: went too far. The t s A says for now

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Speaker 1: it will not enforce a masking bandate. White House Folks

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Speaker 1: Women Jimsaki says the ruling is disappointing. We also think

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Speaker 1: the mask commandate should be in place and that it's

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Speaker 1: safer for individuals for flying to continue to wear masks.

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Speaker 1: So the major US air carriers have now made masking

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Speaker 1: optional for the time being. Delta United Southwest Alaska, American.

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Speaker 1: Some of the international flights will continue to have the

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Speaker 1: mandate for now. In San Francisco, I'm at Baxter Bloomberg Daybreak,

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Speaker 1: All right, and thank you. Turning into corporate earnings, we

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Speaker 1: hear from more than a dozen companies in the SMP

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Speaker 1: five hundred today. They include IBM, Johnson and Johnson, and Netflix.

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Speaker 1: Bloomberg's Tom Busby joins us with a Netflix preview. Shares

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Speaker 1: of the streaming leader have taken a real beating since

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Speaker 1: its last earnings report in January, down about thirty three percent.

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Speaker 1: That follows a disappointing outlook for subscriber growth amid a

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Speaker 1: flood of competition, but key to its first quarter results

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Speaker 1: out later today the impact of a recent price increase

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Speaker 1: and the suspension of service in Russia, and both could

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Speaker 1: have a negative impact on results. Still, forecast goal for

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Speaker 1: two point eight million subscriber ads for a total of

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Speaker 1: nearly two hundred twenty five million worldwide. Look for earnings

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Speaker 1: per share of two dollars cents and revenue of seven

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Speaker 1: point nine five billion dollars. Tom Busby, Bloomberg Daybreak, All right, Tom,

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Speaker 1: thank you on new developments this morning on Elon Musk's

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Speaker 1: forty three billion dollar pursuit of Twitter. We get the

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Speaker 1: latest line from Bloomberg's renied a Young, good Morning Ready down,

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Speaker 1: Good Morning Care, and Bloomberg sources say Apollo Global Management

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Speaker 1: is considering backing a potential deal for Twitter and could

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Speaker 1: provide Elon Musk or another bidder like private equity firm

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Speaker 1: Tomo Bravo, with equity or debt to support an offer.

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Speaker 1: The participation would come in the form of credit or

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Speaker 1: preferred equity. Of filing from last week shows Morgan Stanley

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Speaker 1: as advising Musk in his unsolicited offer to take over

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Speaker 1: Twitter and to take it private, and Twitter is enlisting

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Speaker 1: the help of Goldman, Saxon, JP, Morgan Chase to respond

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Speaker 1: to Musk's hostile bid Live in New York, I'm rened

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Speaker 1: a young Bloomberg day Break, Okay, Nita, thank you. On

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Speaker 1: a bullish stock call on Musk's company, Tesla, cathy Woods

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Speaker 1: Our Investment Management now expects shares of the electric carmaker

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Speaker 1: to more than quadruple to forty dollars by six. Cathy

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Speaker 1: Wood has long been an ardent supporter of Tesla and

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Speaker 1: CEO Elon Musk. Tesla is the largest solding in woods

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Speaker 1: flagship our Connovation ETF. This is Bloomberg and it's now

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Speaker 1: five oh seven on Wall Street where a forty five

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Speaker 1: degrees in Central Park. We are under a flood watch.

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Speaker 1: It's got the hutch close from Cross County Parkway to

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Speaker 1: Lincoln Avenue. Tails on all the closures coming up in traffic.

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Speaker 1: First Michael Barr with more on what's going on in

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Speaker 1: New York and around the world. Good morning, Michael, Good

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Speaker 1: morning Nathan. Now that an indoor mask mandate is back

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Speaker 1: and plays in Philadelphia, will New York City do the same?

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Speaker 1: COVID nineteen case numbers are rising in several cities. Mayor

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Speaker 1: Eric Adams, who had been quarantining due to having the virus,

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Speaker 1: was asked about mass rules in the city. We are

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Speaker 1: advising New Yorker is uh to wear a mask, but

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Speaker 1: we're not at the point of mandate right now. We

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Speaker 1: are hospitalizations at a steady level. Depthside of steady level,

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Speaker 1: Mayor Adam says, we are encouraging New Yorkers to wear

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Speaker 1: the mask if you feel uncomfortable. The Supreme Court is

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Speaker 1: declining to wade into a lawsuit filed by four New

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Speaker 1: York City public school employees it's over a policy that

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Speaker 1: they'd be vaccinated against COVID. Nineteen Judge's ruled Amazon must

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Speaker 1: reinstate a former employee who was fired in the early

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Speaker 1: days of the pandemic after leading a protest in Statn

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Speaker 1: Island calling for the company to do more to protect

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Speaker 1: workers against COVID. The judge rule that Amazon must offer

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Speaker 1: the former worker, Gerald Bryson, his job back, as well

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Speaker 1: as lost wages and benefits. The Biden administration is pledging

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Speaker 1: not to litter in space. Vice President Harris said that

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Speaker 1: the US no longer engage in anti satellite missile testing

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Speaker 1: in space. Harris explained the testing causes debris and it's

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Speaker 1: dangerous to research and facilities like the International Space Station.

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Speaker 1: A piece of space debris the size of a basketball,

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Speaker 1: which travels at thousands of miles per hour, would destroy

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Speaker 1: a satellite. Even a piece of debris as small as

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Speaker 1: a grain of sand could cause serious damage. Vice President

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Speaker 1: Harris says we are the first nation to make such

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Speaker 1: a commitment and called on other nations to follow. The

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Speaker 1: number of migrants attempted to cross the US Mexico border

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Speaker 1: has surged in recent weeks. It comes as the US

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Speaker 1: prepares for even larger numbers with the expected lifting of

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Speaker 1: a pandemic era order that turned away asylum seekers. Immigration

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Speaker 1: authorities stopped migrants more than two hundred twenty one thousand

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Speaker 1: times along the Southwest border in March, the highest in

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Speaker 1: nearly two decades. Global News twenty four hours a day

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Speaker 1: on air and on Bloomberg Quicktake, powered by more than

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Speaker 1: twenty seven hundred journalists and analysts more than tw countries.

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Speaker 1: Michael Barr, This is Bloomberg, Nathan, Michael, thank you. Count

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Speaker 1: up to five ten on Wall Street time for the

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Speaker 1: Bloomberg Sports Updake, Good morning, John stonsho Your morning, Nathan.

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Speaker 1: First of the game two, his first round of the

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Speaker 1: NBA playoffs in Philadelphia, six years a second straight route

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Speaker 1: of Toronto on ninety seven, Joe l m being scored

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Speaker 1: thirty one in Dallas. The MAVs were again without their

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Speaker 1: star Luca Donston, but Jalen Brunson pot in a career

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Speaker 1: I forty one point one one oh four over Utah

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Speaker 1: to tie that series at one, Golden State by twenty

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Speaker 1: over Denver. Steph Curry off the bench thirty four points

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Speaker 1: in just twenty three minutes, and the Warriors go up

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Speaker 1: to Zip the Celtics. Marcus Smart named Defensive Player of

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Speaker 1: the Year, first guard to win since Gary Payton and

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Speaker 1: Peyton went to Celtics practice in Boston to tell Smart

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Speaker 1: he had won. Celtics Nets Game two tomorrow. Ian Boston

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Speaker 1: Rangers on the Winnipeg Jets tonight at the Garden, Carolina

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Speaker 1: one last night. So the Keynes lead the Rangers by

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Speaker 1: two points as they battled the win. The Metropolitan Division

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Speaker 1: Mets and Giants reigned out. Single admission doubleheader starts at

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Speaker 1: three o'clock. Tyler mcguil. You have to allow a run

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Speaker 1: and two starts goes in the opener Max Scherz or

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Speaker 1: the nightcap his first met start at City Field. Garrett

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Speaker 1: Cole for the Yankees in Detroit. Jake Garrietta retiring at

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Speaker 1: age thirty six. He struggled in recent years. Arietta won

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Speaker 1: the nls I Young Award and they in two thousand fifteen.

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Speaker 1: But the Cubs NFL Draft starts awake from Thursday in

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Speaker 1: Las Vegas. Been a lot of quarterback movement this offseason.

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Speaker 1: Will there be another move before the draft? Carolina said

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Speaker 1: to be trying to acquire Baker Mayfield from Cleveland, Who's

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Speaker 1: gonna do? QB and Deshaun Watson speaking of QB's latest

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Speaker 1: edition of Made for TV Golf June one in Las Vegas.

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Speaker 1: Tom Brady and Aaron Rodgers versus Patrick Mahomes and Josh Allen.

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Speaker 1: All four are single digit handicapped golfers. Johns Dashar Bloomberg

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Speaker 1: Sports David, is there nothing they can't do? Thank you?

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Speaker 1: John SMP futures down six point, staff features down seventeen,

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Speaker 1: nastic futures down forty five points. The tenure treasury right

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Speaker 1: now down eleven thirty seconds, the old two point eight

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Speaker 1: nine per cent. This is Sploomberg Bloomber eleven three oh

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Speaker 1: weather flood watch till eight this morning. It'll turn mostly

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Speaker 1: sunny this afternoon, breezy with highs in the mid fifties

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Speaker 1: near sixty, and sunny tomorrow low sixties, mostly cloudy on Thursday.

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Speaker 1: Right now rain and forty five degrees. Markets headlines and

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Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,

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Speaker 1: the Bloomberg Business Out and at Bloomberg Quick Tape. He's

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Speaker 1: a Bloomberg Business Flash and I'm Cameron Moscow. Stocks in

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Speaker 1: Europe are lower. Bond yields are climbing as markets reopened

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Speaker 1: after a holiday amid hawkish comments by Federal Reserve officials

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Speaker 1: and Russia's renewed campaign in eastern Ukraine. Um Stocked index

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Speaker 1: futures are lower, and we checked the markets every fifteen

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Speaker 1: futures are done about eight points down. Futures down twenties

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Speaker 1: Germany's down one percent. Ten year treasury down ten thirty seconds,

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Speaker 1: yield two point eight nine percent. That yield on a

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Speaker 1: two year two point four six percent. NIMEX screwed oil

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Speaker 1: pound one point three zero three five, the yen at

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Speaker 1: one twenty eight point three two, and bitcoin is it'll

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Speaker 1: changed at forty thousand and six d eighty dollars. Today.

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Speaker 1: We are watching for reports on housing starts and building

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Speaker 1: permits at at eight thirty Wall Street time, and Netflix

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Speaker 1: is among companies scheduled to report earnings today. That's a

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Speaker 1: Bloomberg business flash. Now here's Muckle Bar with Moore and

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Speaker 1: what's going on around the world, muncle, Good morning, Good

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Speaker 1: morning Karen. After days of regrouping and reinforcing, the Russian

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Speaker 1: military began it in phase of the war in Ukraine.

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Speaker 1: Ukrainian officials said that the Kremlin's forces launched a full

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Speaker 1: scale ground offensive to take control of the country's industrial heartland,

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Speaker 1: the Dunbass region. Most major US airlines are no longer

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Speaker 1: requiring travelers or employees where face coverings on domestic in

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Speaker 1: some international flights. The decisions came after a US judge

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Speaker 1: overturned to federal mandate for passengers to cover their faces.

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Speaker 1: In MLB, the Red Sox lost The A's beat the

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Speaker 1: Orioles five one in the NBA Playoffs. The Warriors beat

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Speaker 1: the Nuggets to lead the series two games to zip.

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Speaker 1: In the NHL, the Devil's and Capitals one Global News

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Speaker 1: twenty four hours a day on air and on Bloomberg

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Speaker 1: Quick Take power by more than twenty seven hundred journalists

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Speaker 1: analysts more than a hundred twenty countries. Michael Barron, this

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Speaker 1: is Bloomberg Nain. Okay, Michael, thank you. It's five nineteen

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Speaker 1: on Wall Street Line from the Bloomberg Interactive Broker Studios.

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Speaker 1: This is Bloomberg Daybreak on a morning that seems like

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Speaker 1: new phases is turning out to be a theme this morning.

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Speaker 1: The war in Ukraine potentially entering a second phase in

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Speaker 1: the Don Boss region, and the US response to COVID

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Speaker 1: nineteen entering a new phase on public transportation. Let's get

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Speaker 1: into all this this morning, Bloomberg Washington correspondent Joe Matthews

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Speaker 1: with US host of Sound on here on Bloomberg Radio. Joe,

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Speaker 1: let's start with the war in Ukraine. As we've been mentioning,

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Speaker 1: the President, Vladimir z Olinski is saying that the new

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Speaker 1: phase is under way now in the Don Boss and

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Speaker 1: we understand President Biden is going to be holding another

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Speaker 1: call with allies to weigh the response. A lot of

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Speaker 1: these calls. The latest one will happen this afternoon with

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Speaker 1: the leaders of France, Germany, Italy, Japan, Canada, Poland, Romania,

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Speaker 1: the UK. They're gonna be talking about the war effort

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Speaker 1: and specifically coordinating the delivery of weapons. You know, we've

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Speaker 1: been sending weapons to Ukraine, not just the US but

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Speaker 1: our European allies now for a couple of months, Nathan,

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Speaker 1: and and the repeated refrain that we hear from Kiev

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Speaker 1: is we need more, better, faster. A lot of this

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Speaker 1: stuff is taking time to get there. And now that,

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Speaker 1: as you point out, President Zelenski is calling this, uh

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Speaker 1: the new phase, the battle for done Boss has begun.

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Speaker 1: There is a new urgency to get some of the

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Speaker 1: heavier equipment in the hands of Ukrainian forces. What kind

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Speaker 1: of equipment show are we talking about here? We've heard

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Speaker 1: the talk in the past about fighter jets. It seemed

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Speaker 1: like that was off the table. What what, what sort

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Speaker 1: of equipment could we be looking at? Those fighter jets

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Speaker 1: appear to still be off the table, by the way,

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Speaker 1: the big twenty nines from Poland that never got to Ukraine.

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Speaker 1: Although we have been apparently clearing helicopters m I seven teams,

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Speaker 1: which are Russian helicopters. We already gave several earlier this year.

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Speaker 1: More on the way. But the idea with these weapons, Nathan,

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Speaker 1: is to create some distance. This is gonna be a

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Speaker 1: slightly different strategy now as we head into open warfare

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Speaker 1: in rural country sort of areas as opposed to the

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Speaker 1: street to street city fighting. Howitzer's are a major component

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Speaker 1: of this. The big field cannons that can shoot projectiles

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Speaker 1: at very long trajectors twenty five miles away. These are

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Speaker 1: the types of weapons that we want to get over

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Speaker 1: there now that are actually in transit, along with missiles

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Speaker 1: ground to air missiles that can take out Russian jets

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Speaker 1: and could in fact be more effective than the big

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Speaker 1: according to the Pentagon, is there still a concern Joe,

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Speaker 1: that more heavy weaponry could draw the US and NATO

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Speaker 1: more directly into the war. We saw that attack apparently

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Speaker 1: just yesterday in Leviv, very close to the border of Poland,

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Speaker 1: only about forty miles away. That's a big deal. That's

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Speaker 1: been a base for refugees, for government officials, uh and

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Speaker 1: for news media, the reporters all over Laviv, crossing back

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Speaker 1: and forth. Of course, the president was along the border

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Speaker 1: of Poland not that far from there. And so yes,

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Speaker 1: there are a lot of concerns about this widening sort

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Speaker 1: of conflict here. And it was just on Sunday morning

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Speaker 1: that Senator Chris Coons, the Democrat from Delaware who now

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Speaker 1: sits in the seat once held by Joe Biden, a

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Speaker 1: very close ally to to Biden, and this White House

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Speaker 1: suggested openly on Sunday Morning television that we start having

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Speaker 1: the conversation about American ground troops potentially being in Ukraine.

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Speaker 1: It's something that the President has drawn the line on,

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Speaker 1: says he won't do it. But this conversation for being

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Speaker 1: started by a Democrat is remarkable. At this time with

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Speaker 1: atrocities just building up on one on top of the other,

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Speaker 1: and and horrifying images coming from Ukraine, the pressure on

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Speaker 1: this White House when it comes to troops could escalate

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Speaker 1: in the coming weeks. And on the last minute, we

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Speaker 1: have here Joe speaking of pressure on the White House.

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Speaker 1: It looks like it's buckled, perhaps on the mask mandate

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Speaker 1: in the air about it. This is following, of course,

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Speaker 1: the Supreme Court knocking down the Biden administrations vax or

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Speaker 1: mask mandate for the workplace. Uh. The CDC came out

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Speaker 1: last night said the mandate is over. Before that, Press

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Speaker 1: Secretary Jensaki said the dj was refewing reviewing the decision

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Speaker 1: that there may or may not be a legal answer

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Speaker 1: to this. She called it a disappointing decision, but it

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Speaker 1: may be out of the hands of the White House now.

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Speaker 1: So is there a possibility in just the last couple

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Speaker 1: of seconds here that there could be uh, some pushback

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Speaker 1: from the White House. There absolutely is a possibility. Once

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Speaker 1: we hear from the d o J and they decide

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Speaker 1: whether there's a legal option here, we'll know a little

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Speaker 1: bit more about it. But this story could be over

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Speaker 1: as of now. Once you once you put that mask

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Speaker 1: mandate down, it's pretty hard to reinstate at Nathan. A

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Speaker 1: lot of people were cheering on flights last night and

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Speaker 1: some say they'll wear a mask no matter what. It's

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Speaker 1: kind of like trying to put a genie back in

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Speaker 1: the bottle right now, that's right. Joe Matthew, host of

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Speaker 1: Bloomberg Sound On here on Bloomberg Radio, will have much

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Speaker 1: more on all these stories. Then at five pm Wall

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Speaker 1: Street time, you can catch Joe on sound On, and

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Speaker 1: we're gonna be checking back with him later on this

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Speaker 1: morning on Bloomberg Daybreak. So stick around for that. SMP

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Speaker 1: futures right now down ten points down, futures down forty five,

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Speaker 1: Nasdaq futures down sixty four points. The tenure Treasury is

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Speaker 1: down ten thirty seconds. The yield right now on the

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Speaker 1: tenure note two point eight nine percent. You're listening to

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Speaker 1: Bloomberg Day Brady Bloomberg eleventh three oh weather flood watch

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Speaker 1: till eight am. It will turn mostly sunny this afternoon,

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Speaker 1: breezy with a high in the mid fifties, upper fifties.

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Speaker 1: Sunny Tomorrow, mostly cloudy, low sixties on Thursday. Right now,

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Speaker 1: rain and forty five degrees. Broadcasting live from the Bloomberg

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Speaker 1: Interactive Broker Studio in New York. Bloomberg E Living free

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Speaker 1: to Washington, d C. Bloomberg nine one to Boston, Bloomberg

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Speaker 1: one O six one to San Francisco, Bloomberg nome sixt

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Speaker 1: to the country, Sirius XM chand A one nine and

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Speaker 1: around the globe the Bloomberg Business app and Bloomberg Radio

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Speaker 1: dot Com. This is Bloomberg Daybreak. It's five thirty on

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Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow,

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Speaker 1: and we are just about four hours away from the

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Speaker 1: open of US trading. Let's get you have to date

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Speaker 1: of the news you need to know at this hour.

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Speaker 1: We begin with the war in Ukraine, where Russia's military

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Speaker 1: shell in the southern and eastern Ukraine. Overnight, President Vladimir

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Speaker 1: z Lensky says Moscow is focusing its efforts on conquering

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Speaker 1: the eastern the don Bus region. Russian troops begun the

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Speaker 1: battle for the dome Bus for which they have been

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Speaker 1: preparing for a long time. A significant part of the

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Speaker 1: entire Russian army is now concentrated on this offensive. Ukrainian

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Speaker 1: President vladimir's Lenski says his nation will continue to defend

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Speaker 1: the region. The US President Joe Biden will hold a

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Speaker 1: call with key allies Tuesday to discuss the war. The meantime,

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Speaker 1: here in the US is still expected to participate a

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Speaker 1: group of twenty meetings this week even if Russia attends.

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Speaker 1: Treasury Secretary Janet Yellen had previously said the US may

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Speaker 1: boycott some meetings should Russia participate, but a senior Treasury

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Speaker 1: official says Yellen does not want Russia to stop the

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Speaker 1: US and allies from the work it needs to do.

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Speaker 1: At the well I mid fallout from the war, Nathan

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Speaker 1: World Bank chief economist Carmen Reinhardt tells Bloomberg it's cutting

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Speaker 1: its econom outlook. Will it be cut again. Certainly, wouldn't

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Speaker 1: rule it out. But the point I'm making is we

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Speaker 1: are living a period conceptional uncertain and World Bank Chief

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Speaker 1: economist Carmen Reinhardt says it's lowering estimates for global growth

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Speaker 1: from four point one percent in January to three point

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Speaker 1: two percent. I Here in the US, Karen A judge

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Speaker 1: has overturned the federal mandate for passengers to cover their

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Speaker 1: faces on flights, and the five largest US carriers say

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Speaker 1: they have dropped mask mandates on domestic and some international flights. Well.

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Speaker 1: Nathan moving to tech new developments in Elon musk forty

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Speaker 1: three billion dollar pursuit of Twitter. If we get the

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Speaker 1: latest line from Bloomberg's Randy too Young, Good Morning ny Down,

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Speaker 1: Good Morning Karen. Bloomberg. Sources say Apollo Global Management is

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Speaker 1: considering backing a potential deal for Twitter and could provide

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Speaker 1: Elon Musk or another bidder like private equity firm Tomo Bravo,

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Speaker 1: with equity or debt to support an offer. The participation

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Speaker 1: could come in the form of credit or preferred equity. Finally,

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Speaker 1: from last week shows Morgan Stanley is advising Musk and

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Speaker 1: is offered to take Twitter private, and Twitter is enlisting

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Speaker 1: the help of Goldman Sax and JP Morgan Chase to

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Speaker 1: respond to Musk's hostile bid. Live in New York, I'm

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Speaker 1: goned a young Bloomberg daybreak. I need to thank you

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Speaker 1: tech giant. Netflix reports earnings today, Annalyst, we'll look at

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Speaker 1: how a recent price increase in suspension of service in

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Speaker 1: Russia impacts first quarter results and futures are lower this morning.

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Speaker 1: S and P Future is down twelve points down, futures

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Speaker 1: down sixty two. Straight ahead your latest local headlines plus

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Speaker 1: a check of sports, and this is Bloomberg. All right, Karen,

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Speaker 1: thank you. It's five thirty three on Wall Street where

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Speaker 1: forty five degrees in central Parking. This flooding as the

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Speaker 1: southbound Deigan closed between the Cross Bronx through Yankees Stadium.

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Speaker 1: Details coming up in traffic. First. Michael Barr with more

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Speaker 1: on what's going on in New York and around the world.

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Speaker 1: Michael Nathan, thank you very much. Will New York City

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Speaker 1: bring back an indoor mask mandate like Philadelphia COVID nineteen

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Speaker 1: case numbers are rising and filling in other cities. Mayor

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Speaker 1: Eric Adams says New York is not at the point

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Speaker 1: of mandating right now. We are encouraging New Yorker is

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Speaker 1: you know, with a mask, if you feel uncomfortable, if

430
00:24:12,160 --> 00:24:16,200
Speaker 1: you don't know the satisfy persons vaccine, if you had gatherings.

431
00:24:16,200 --> 00:24:18,520
Speaker 1: So there is an encouragement we're putting out to New

432
00:24:18,600 --> 00:24:20,360
Speaker 1: York Is. We're just not have to place a mandate

433
00:24:20,440 --> 00:24:24,480
Speaker 1: right now. Mayor Adams has hospitalizations and deaths are at

434
00:24:24,480 --> 00:24:28,399
Speaker 1: a steady level in the city. U S Customs says

435
00:24:28,520 --> 00:24:32,080
Speaker 1: the number of migrants attempting to cross the US Mexico

436
00:24:32,200 --> 00:24:35,080
Speaker 1: border has surged in recent weeks. It comes as the

437
00:24:35,160 --> 00:24:38,280
Speaker 1: US prepares for even larger numbers with the expected lifting

438
00:24:38,560 --> 00:24:42,120
Speaker 1: of a pandemic era order that turned away asylum seekers.

439
00:24:42,400 --> 00:24:45,440
Speaker 1: Authorities say there was a thirty four percent increase and

440
00:24:45,560 --> 00:24:48,919
Speaker 1: stopped migrants at the southwest border in March compared to

441
00:24:48,960 --> 00:24:52,840
Speaker 1: the previous month. The US won't test some anti satellite

442
00:24:52,880 --> 00:24:56,320
Speaker 1: weapons in space. The move comes after Moscow blew up

443
00:24:56,359 --> 00:25:00,359
Speaker 1: a dead satellite last November, where the ground launched Whistle.

444
00:25:00,760 --> 00:25:04,680
Speaker 1: Vice President Kamala Harris says that space debris could endanger

445
00:25:04,720 --> 00:25:09,679
Speaker 1: the International Space Station or spacecraft. This debris presents a

446
00:25:09,800 --> 00:25:15,239
Speaker 1: risk to the safety of our astronauts, our satellites, and

447
00:25:15,359 --> 00:25:20,720
Speaker 1: our growing commercial presence. Vice President Harris says fast moving

448
00:25:20,800 --> 00:25:24,040
Speaker 1: to breed like the size of a basketball, could destroy

449
00:25:24,080 --> 00:25:28,560
Speaker 1: a satellite. The fiancee a former President Donald Trump's eldest son,

450
00:25:28,760 --> 00:25:31,760
Speaker 1: Kimberly Gilfoyle, is said to have met with the House

451
00:25:31,760 --> 00:25:36,040
Speaker 1: committee yesterday investigating the US Capital riot. Lawmakers say she

452
00:25:36,200 --> 00:25:39,280
Speaker 1: raised funds for the rally and was in direct contact

453
00:25:39,359 --> 00:25:43,720
Speaker 1: with its key participants. A lawyer for recently resigned New

454
00:25:43,800 --> 00:25:47,960
Speaker 1: York Lieutenant Governor Brian Benjamin told Manhattan judge yesterday that

455
00:25:48,040 --> 00:25:51,639
Speaker 1: he expects a lively challenge to corruption charges brought against

456
00:25:51,640 --> 00:25:55,680
Speaker 1: Benjamin last week. The charges include bribery, fraud, and conspiracy.

457
00:25:55,880 --> 00:25:58,000
Speaker 1: Global Names twenty four hours a day on airand on

458
00:25:58,000 --> 00:26:00,159
Speaker 1: Bloomberg Quick Take, powered by more than twenty of a

459
00:26:00,240 --> 00:26:03,760
Speaker 1: hundred journalists and analysts in more than twenty countries. Michael Barr,

460
00:26:03,800 --> 00:26:11,520
Speaker 1: this is Bloomberg NA. Thank you, Michael five on Wall

461
00:26:11,560 --> 00:26:14,320
Speaker 1: Street time for the Bloomberg Sports Update with John Stshow.

462
00:26:14,400 --> 00:26:16,800
Speaker 1: Right date. Then, after playing ten straight days, perhaps the

463
00:26:16,920 --> 00:26:19,240
Speaker 1: day off with the Yankees needed. They're in Detroit tonight.

464
00:26:19,240 --> 00:26:21,960
Speaker 1: They just had two losses to the lowly Orioles in

465
00:26:22,119 --> 00:26:25,919
Speaker 1: those losses. In twenty innings, they scored one run, struck

466
00:26:25,920 --> 00:26:29,280
Speaker 1: out twenty three times. The team batting averages under two thirty,

467
00:26:29,520 --> 00:26:32,520
Speaker 1: same problems as last year. The manager Aaron We got

468
00:26:32,520 --> 00:26:35,200
Speaker 1: a few guys that are swinging it pretty well, uh,

469
00:26:35,240 --> 00:26:39,200
Speaker 1: and off the pretty good starts. Um, but I'm gonna

470
00:26:39,240 --> 00:26:41,359
Speaker 1: bet on the track record of a few other guys

471
00:26:41,480 --> 00:26:44,320
Speaker 1: that are gonna, you know, have the kind of seasons

472
00:26:44,320 --> 00:26:49,679
Speaker 1: we're used to provided health. Uh. I believe that, Um,

473
00:26:49,720 --> 00:26:53,040
Speaker 1: there's good reason to think that a couple of guys that, um,

474
00:26:53,640 --> 00:26:57,280
Speaker 1: you know, had down years maybe by their standards are

475
00:26:58,200 --> 00:27:01,480
Speaker 1: and will you know, kind return to what week stag

476
00:27:01,560 --> 00:27:03,920
Speaker 1: nets are seven and three Giants or seven and two

477
00:27:03,920 --> 00:27:06,480
Speaker 1: doubleheader today in tonight's city field, making up last night's

478
00:27:06,520 --> 00:27:10,119
Speaker 1: rainowt NBA playoffs, Golden States hopes arrested and getting Steph

479
00:27:10,119 --> 00:27:12,600
Speaker 1: Curry back from the injured foot that sidelined in the

480
00:27:12,680 --> 00:27:14,760
Speaker 1: last month of the regular season. He's back. They're using

481
00:27:14,840 --> 00:27:17,640
Speaker 1: him off the bench, so Curry only played twenty three minutes.

482
00:27:17,640 --> 00:27:20,800
Speaker 1: He scored thirty four points. Warriors beat Denver by twenty

483
00:27:21,160 --> 00:27:23,560
Speaker 1: lead the series tune up in Philadelphia, another easy win

484
00:27:23,600 --> 00:27:27,879
Speaker 1: over Toronto Dallas Speed Utah Jalen Brunson forty one points

485
00:27:27,920 --> 00:27:30,000
Speaker 1: for the MAVs. That series tied to won three more

486
00:27:30,119 --> 00:27:34,000
Speaker 1: game twos Tonight Nets Celtics team to in Boston tomorrow

487
00:27:34,160 --> 00:27:37,760
Speaker 1: NHL Carolina one. So the Rangers need to beat Winnipeg

488
00:27:37,800 --> 00:27:39,760
Speaker 1: tonight at the Garden to get back into a tie

489
00:27:39,760 --> 00:27:43,520
Speaker 1: for first in the Metropolitan Division. Down Stash Howard Bloomberg, Sports,

490
00:27:43,560 --> 00:27:46,440
Speaker 1: Nathan right John, Thank you seven on Wall Street time

491
00:27:46,440 --> 00:27:49,240
Speaker 1: for the Tri State Business Report. Here's Bloomberg's head Cory.

492
00:27:49,800 --> 00:27:52,440
Speaker 1: The Supreme Court has declined to review a New York

493
00:27:52,520 --> 00:27:55,919
Speaker 1: led constitutional challenge to the ten thousand dollar camp on

494
00:27:56,000 --> 00:27:59,080
Speaker 1: state and local tax deductions. The High Court issued in

495
00:27:59,200 --> 00:28:02,760
Speaker 1: order Monday nawing a request from New York, New Jersey, Connecticut,

496
00:28:02,800 --> 00:28:05,880
Speaker 1: and Maryland to review a decision of the US Court

497
00:28:05,920 --> 00:28:09,560
Speaker 1: of Appeals for the second circuit. Amazon dot Com workers

498
00:28:09,600 --> 00:28:12,159
Speaker 1: at a facility in New Jersey have met the threshold

499
00:28:12,160 --> 00:28:15,760
Speaker 1: the Holy Union election. The development comes just weeks after

500
00:28:15,840 --> 00:28:18,800
Speaker 1: employees at a Staten Island warehouse became the first to

501
00:28:19,000 --> 00:28:23,400
Speaker 1: unionis in the company's US history. Local seven thirteen International

502
00:28:23,480 --> 00:28:27,040
Speaker 1: Brotherhood of Trade Unions is hoping to unionize two hundred

503
00:28:27,080 --> 00:28:31,360
Speaker 1: workers at an Amazon facility in Bayon, New Jersey. Meanwhile,

504
00:28:31,440 --> 00:28:34,680
Speaker 1: some baristas in West Hartford, Connecticut want to unionize the

505
00:28:34,720 --> 00:28:38,320
Speaker 1: Corbins Corner Starbucks. That would be the first Starbucks in

506
00:28:38,360 --> 00:28:42,000
Speaker 1: Connecticut to unionies. And only what of a handful nationwide?

507
00:28:42,480 --> 00:28:46,040
Speaker 1: That your Bloomberg Trying State Business report. I'md Corey, Thank

508
00:28:46,080 --> 00:28:48,480
Speaker 1: you at five thirty eight on Wall Street. Bloomberg Radio

509
00:28:48,520 --> 00:28:50,600
Speaker 1: is on the air from San Francisco to New York,

510
00:28:50,640 --> 00:28:53,120
Speaker 1: London to Hong Kong. Let's check in with our global

511
00:28:53,160 --> 00:28:55,200
Speaker 1: news team for some of the top stories heard on

512
00:28:55,240 --> 00:29:01,240
Speaker 1: our three hundred affiliate radio stations around the world. I'm

513
00:29:01,280 --> 00:29:03,840
Speaker 1: Steve Potos, got on ten ten Wins in New York.

514
00:29:03,880 --> 00:29:07,040
Speaker 1: We're talking about Abercromby and Fish starring as the latest

515
00:29:07,080 --> 00:29:10,400
Speaker 1: corporate villain in a Netflix film. M Cornita hold on

516
00:29:10,560 --> 00:29:13,400
Speaker 1: ktr H in Houston. More than half of college grads

517
00:29:13,480 --> 00:29:15,920
Speaker 1: don't work in the field they study. I'm John Tucker

518
00:29:16,000 --> 00:29:19,760
Speaker 1: for w BBM in Chicago. I'm reporting the fertilizer cross

519
00:29:19,800 --> 00:29:22,920
Speaker 1: are threatening to make a food crisis even worse. I

520
00:29:23,040 --> 00:29:25,520
Speaker 1: made gory on w A t AM in Cleveland, I'm

521
00:29:25,560 --> 00:29:28,680
Speaker 1: reporting lawmakers are joining the Pentagon and pushing for trans

522
00:29:28,840 --> 00:29:31,800
Speaker 1: time to pay millions in refunds for the contst of

523
00:29:31,880 --> 00:29:34,920
Speaker 1: military spare park. And those are some of the stories

524
00:29:34,920 --> 00:29:38,120
Speaker 1: our twenty seven hundred Bloomberg journalists and analysts are working

525
00:29:38,120 --> 00:29:40,880
Speaker 1: on this morning around the world. It's five thirty nine

526
00:29:40,880 --> 00:29:44,800
Speaker 1: on Wall Street. The following is an editorial from Bloomberg Opinion.

527
00:29:45,120 --> 00:29:47,560
Speaker 1: As I am f negotiators try to agree on a

528
00:29:47,640 --> 00:29:50,520
Speaker 1: bailout for Sri Lanka this week, they'll no doubt push

529
00:29:50,560 --> 00:29:54,640
Speaker 1: for economic reforms, but any such rescue will fail without

530
00:29:54,640 --> 00:29:59,720
Speaker 1: political change. An earlier government, led by then President Mahinda Rajapaksa,

531
00:30:00,080 --> 00:30:04,160
Speaker 1: saddled Sri Lanka with unsustainable debts when his brother got

532
00:30:04,280 --> 00:30:07,520
Speaker 1: to buy a Rajapaksa swept to power in twenty nineteen.

533
00:30:07,960 --> 00:30:10,960
Speaker 1: He packed the government with cronies and relatives and made

534
00:30:11,040 --> 00:30:14,960
Speaker 1: still more economic blunders. Now, with less than two billion

535
00:30:15,040 --> 00:30:18,280
Speaker 1: dollars in foreign exchange reserves left, the country is running

536
00:30:18,320 --> 00:30:22,320
Speaker 1: out of money to pay for essential imports. Consumer prices

537
00:30:22,440 --> 00:30:25,320
Speaker 1: rose nearly nineteen percent in March from a year earlier,

538
00:30:25,800 --> 00:30:30,000
Speaker 1: and protesters have filled the streets the US, India and

539
00:30:30,160 --> 00:30:33,840
Speaker 1: other partners should ease Sri Lancan's pain with much needed

540
00:30:33,880 --> 00:30:38,160
Speaker 1: food aid while pressing for political reforms. Sri Lancans shouldn't

541
00:30:38,160 --> 00:30:41,320
Speaker 1: have to pay such a high price for their leader's mistakes.

542
00:30:41,760 --> 00:30:44,600
Speaker 1: This editorial was written by the Bloomberg Opinion Editorial Board.

543
00:30:44,720 --> 00:30:47,280
Speaker 1: I'm David Shipley. For more Bloomberg opinion, please go to

544
00:30:47,320 --> 00:30:50,560
Speaker 1: Bloomberg dot com, slash opinion or OPA and go on

545
00:30:50,720 --> 00:30:54,200
Speaker 1: the Bloomberg terminal. These has been Bloomberg opinion and you

546
00:30:54,240 --> 00:30:57,600
Speaker 1: can hear Bloomberg opinion editorials every weekday. At this time,

547
00:30:57,760 --> 00:31:00,800
Speaker 1: terminal customers can read more at O, P I n GO.

548
00:31:01,560 --> 00:31:04,440
Speaker 1: SMP future is down down eleven points, stout futures down

549
00:31:04,480 --> 00:31:07,520
Speaker 1: sixty two, nastack futures down fifty seven points ten. Your

550
00:31:07,560 --> 00:31:10,800
Speaker 1: treasury yield two point eight nine the end at one

551
00:31:11,520 --> 00:31:14,480
Speaker 1: point four zero against the dollar. We'll talk about the

552
00:31:14,600 --> 00:31:18,240
Speaker 1: slide in the haven currency with Stephen Gallo of Bank

553
00:31:18,280 --> 00:31:24,280
Speaker 1: of Montreal. This is Bloomberg Bloomberg eleven three oh weather

554
00:31:24,320 --> 00:31:26,840
Speaker 1: flood watch until eight am. It will turn mostly sunny,

555
00:31:26,880 --> 00:31:31,040
Speaker 1: mid fifties this afternoon, upper fifties maybe sixty in the sunshine. Tomorrow,

556
00:31:31,360 --> 00:31:34,520
Speaker 1: clouds and low sixties Thursday right now, rain and forty

557
00:31:34,600 --> 00:31:39,960
Speaker 1: five degrees. Markets, headlines and breaking news twenty four hours

558
00:31:40,000 --> 00:31:42,960
Speaker 1: a day at Bloomberg dot Com, The Bloomberg Business at

559
00:31:43,080 --> 00:31:46,840
Speaker 1: and at Bloomberg Quicktake. This is a Bloomberg Business Flash

560
00:31:52,720 --> 00:31:55,640
Speaker 1: and I'm Karen Moscow. Stop seeing. Europe are moving lower.

561
00:31:55,800 --> 00:31:59,000
Speaker 1: Bond yields are climbing as markets reopened after a holiday,

562
00:31:59,040 --> 00:32:01,560
Speaker 1: a med hawk ish com ments by Federal Reserve officials

563
00:32:01,600 --> 00:32:05,240
Speaker 1: and Russia's renewed campaign in eastern Ukraine. US dock index

564
00:32:05,320 --> 00:32:07,760
Speaker 1: futures are moving lower, and we checked the markets every

565
00:32:07,800 --> 00:32:10,720
Speaker 1: fifteen minutes throughout the trading day. On Bloomberg s and

566
00:32:10,760 --> 00:32:13,240
Speaker 1: P futures down eleven points this morning. Down Future is

567
00:32:13,280 --> 00:32:16,760
Speaker 1: down fifty two. NASDACK futures down fifty three. The decks

568
00:32:16,800 --> 00:32:19,920
Speaker 1: in Germany's down one percent. Ten year treasury down nine

569
00:32:19,960 --> 00:32:22,600
Speaker 1: thirty seconds two point eight eight percent. They yield on

570
00:32:22,680 --> 00:32:25,280
Speaker 1: the two year two point four or five percent. Nine

571
00:32:25,360 --> 00:32:27,840
Speaker 1: max Screwed oil is down one point seven percent on

572
00:32:27,920 --> 00:32:30,120
Speaker 1: a dollar eighty four at a hundred six dollars thirty

573
00:32:30,160 --> 00:32:33,240
Speaker 1: seven cents a barrel. Comc school down a third of percent,

574
00:32:33,360 --> 00:32:36,040
Speaker 1: or seven dollars twenty cents at nineteen seventy nine. Ten

575
00:32:36,040 --> 00:32:39,360
Speaker 1: announced the euro one point eight oh six against the dollar,

576
00:32:39,400 --> 00:32:42,200
Speaker 1: British pound one point three zero three seven, the yen

577
00:32:42,280 --> 00:32:45,120
Speaker 1: at one twenty eight point three six, and bitcoin this

578
00:32:45,320 --> 00:32:48,840
Speaker 1: morning is little changed at forty thousand, six hundred to

579
00:32:48,920 --> 00:32:51,840
Speaker 1: sixty dollars. That's a Bloomberg business flash. Now here's Michael

580
00:32:51,920 --> 00:32:54,200
Speaker 1: bar with Moore on what's going on around the world.

581
00:32:54,320 --> 00:32:57,400
Speaker 1: Michael Karen, thank you very much. Russia has a military

582
00:32:57,520 --> 00:33:01,200
Speaker 1: targeted regions in Ukraine, South and East still overnight for showing.

583
00:33:01,720 --> 00:33:05,240
Speaker 1: Ukrainian President volodimirz Lensky says Moscow has we've got a

584
00:33:05,280 --> 00:33:08,600
Speaker 1: new campaign to conquer the Donbas area in the east

585
00:33:08,760 --> 00:33:12,320
Speaker 1: of the country. The fiance of former President Donald Trump's

586
00:33:12,360 --> 00:33:16,640
Speaker 1: eldest son, Kimberly Gilfoyle, met with the House committee investigating

587
00:33:16,680 --> 00:33:20,360
Speaker 1: the US Capitol Riot and attorney representing Gilfoyle and has

588
00:33:20,400 --> 00:33:24,400
Speaker 1: previously stated that she has done nothing wrong. In MLB,

589
00:33:24,640 --> 00:33:27,800
Speaker 1: the Red Sox lost the A's beat the Orioles five one.

590
00:33:28,200 --> 00:33:31,040
Speaker 1: In the NBA playoffs, The Warriors beat the Nuggets to

591
00:33:31,120 --> 00:33:34,080
Speaker 1: leave the series now two games to zip. In the NHL,

592
00:33:34,240 --> 00:33:37,440
Speaker 1: Devil's and Capitals one Global News twenty four hours a

593
00:33:37,560 --> 00:33:40,800
Speaker 1: day on air and on Bloomberg Quicktake, powered by more

594
00:33:40,880 --> 00:33:44,800
Speaker 1: than twenty seven hundred journalists and analysts more than twenty countries.

595
00:33:45,160 --> 00:33:48,400
Speaker 1: Michael bar this is Bloomberg. Nathan Okay, Michael, thank you.

596
00:33:48,480 --> 00:33:51,280
Speaker 1: It is nine on Wall Street Line from the Bloomberg

597
00:33:51,320 --> 00:33:55,040
Speaker 1: Interractor Broker Studios. This is Bloomberg Daybreak. We want to

598
00:33:55,120 --> 00:33:58,040
Speaker 1: turn now to what's happening in currency markets, and the

599
00:33:58,160 --> 00:34:02,160
Speaker 1: big mover this morning is the Japanese yen. That currency

600
00:34:02,440 --> 00:34:05,880
Speaker 1: is weaker against the dollar for a thirteen straight session,

601
00:34:06,360 --> 00:34:09,480
Speaker 1: extending the longest losing streak for the end and at

602
00:34:09,600 --> 00:34:12,400
Speaker 1: least a half century. Joining us for more on this

603
00:34:12,640 --> 00:34:17,520
Speaker 1: is Stephen Gallo, FX strategist at Bank of Montreal Capital Markets. Steven,

604
00:34:17,680 --> 00:34:20,200
Speaker 1: it's good to speak with you this morning. What's behind

605
00:34:20,440 --> 00:34:24,440
Speaker 1: the short bets for the end? Well, I think the

606
00:34:24,840 --> 00:34:29,000
Speaker 1: fear factors here. Um. The short end position in G

607
00:34:29,239 --> 00:34:33,560
Speaker 1: ten has been the FX markets preferred short. One reason

608
00:34:33,640 --> 00:34:37,800
Speaker 1: for this is that unlike Europe, the event risk is

609
00:34:38,160 --> 00:34:42,040
Speaker 1: pretty low. Um. The b o J basically gave the

610
00:34:42,160 --> 00:34:47,240
Speaker 1: green light for a weaker yen and its last policy decision,

611
00:34:47,840 --> 00:34:50,560
Speaker 1: and then you've got the flows picture of kind current

612
00:34:50,560 --> 00:34:55,080
Speaker 1: account in FDI flows i've generally been trending weaker. There

613
00:34:55,160 --> 00:34:58,360
Speaker 1: also seemed to be splits between the Ministry of Finance

614
00:34:58,400 --> 00:35:04,759
Speaker 1: and the b o J over which direct UM. So

615
00:35:05,120 --> 00:35:08,520
Speaker 1: the FX market I think is feeding off this policy uncertainty.

616
00:35:09,040 --> 00:35:12,760
Speaker 1: I think there is also a segment of the market

617
00:35:13,480 --> 00:35:19,200
Speaker 1: UH that is front umming UH potential again weakness in

618
00:35:19,280 --> 00:35:24,600
Speaker 1: anticipation of unheaged UH flows from Japanese accounts into US debt.

619
00:35:25,040 --> 00:35:28,839
Speaker 1: But UM, so far we don't have clear evidence yet

620
00:35:28,960 --> 00:35:31,960
Speaker 1: that's real flow from Japanese investors are showing up the

621
00:35:32,080 --> 00:35:36,880
Speaker 1: weekly data that we track UM on UM flow on

622
00:35:37,239 --> 00:35:41,160
Speaker 1: Japanese flows UM, it's generally shown Japanese investors as net

623
00:35:41,320 --> 00:35:44,680
Speaker 1: sellers of our inn debts UM. So we have to

624
00:35:44,719 --> 00:35:47,440
Speaker 1: wait and see if that if that flow, that perhaps

625
00:35:47,560 --> 00:35:53,719
Speaker 1: portion of the blow to back up this move and

626
00:35:53,760 --> 00:35:55,960
Speaker 1: agend But so far we're gonna have it. So what

627
00:35:56,120 --> 00:35:59,719
Speaker 1: we've been saying is like we're a bit more skeptical,

628
00:36:00,080 --> 00:36:03,440
Speaker 1: more cautious about chasing the move. We prefer to be

629
00:36:03,560 --> 00:36:07,560
Speaker 1: a buyer on on dips in doll Again, apologies for

630
00:36:07,640 --> 00:36:10,680
Speaker 1: the quality of the line here. Will hope to keep

631
00:36:10,800 --> 00:36:14,560
Speaker 1: connected with Stephen Gallo. But I want to ask you, Stephen,

632
00:36:14,760 --> 00:36:19,760
Speaker 1: about the divergence potentially that we're seeing in central banks,

633
00:36:19,960 --> 00:36:25,560
Speaker 1: the accommodation still the Bank of Japan and the policy

634
00:36:25,680 --> 00:36:29,120
Speaker 1: tightening that we're anticipating from the Federal Reserve. And of

635
00:36:29,200 --> 00:36:32,120
Speaker 1: course we got those comments yesterday from St. Louis President

636
00:36:32,239 --> 00:36:35,520
Speaker 1: James Bullard saying you can't take a seventy five basis

637
00:36:35,600 --> 00:36:37,880
Speaker 1: point hike off the table. Could that be adding to this,

638
00:36:40,080 --> 00:36:44,640
Speaker 1: It's it's possible, it's the divergence theme is certainly something

639
00:36:44,760 --> 00:36:49,520
Speaker 1: that has said a portion of the selling of the

640
00:36:49,719 --> 00:36:57,200
Speaker 1: end of the accumulation of of short position in terms

641
00:36:57,280 --> 00:37:01,400
Speaker 1: of in terms of what are Yeah, Fortunately the quality

642
00:37:01,440 --> 00:37:04,880
Speaker 1: of the line is is just too difficult to discern

643
00:37:05,000 --> 00:37:08,759
Speaker 1: what we're hearing here from Stephen Gallo. But I hope

644
00:37:08,800 --> 00:37:11,200
Speaker 1: we can connect with you soon, Stephen. Great to get

645
00:37:11,280 --> 00:37:15,160
Speaker 1: your insights. Stephen Gallo with us this morning, FX strategist

646
00:37:15,320 --> 00:37:19,040
Speaker 1: at Bank of Montreal Capital Markets and just looking at

647
00:37:19,080 --> 00:37:22,400
Speaker 1: the end against the dollar right now, Karen, it's weaker

648
00:37:22,480 --> 00:37:25,319
Speaker 1: by one point one percent on this session at one

649
00:37:25,480 --> 00:37:29,440
Speaker 1: twenty eight point three six. Some analysts are thinking that

650
00:37:30,000 --> 00:37:32,680
Speaker 1: one thirty against the dollar isn't out of the question.

651
00:37:33,239 --> 00:37:36,280
Speaker 1: All right, Nathan, it is five fifty two on Wall Street.

652
00:37:36,360 --> 00:37:39,040
Speaker 1: Now it's time for our Bloomberg Law Report and we

653
00:37:39,080 --> 00:37:41,520
Speaker 1: get to the illegal stories we're watching this morning. From

654
00:37:41,560 --> 00:37:48,279
Speaker 1: Bloomberg's Jeff Bellinger, the Biden administration is proposing that the

655
00:37:48,360 --> 00:37:52,200
Speaker 1: Medicare Agency pay acute care hospitals three point two percent

656
00:37:52,360 --> 00:37:56,200
Speaker 1: more for in patient services in fiscal twenty three. The

657
00:37:56,239 --> 00:37:59,440
Speaker 1: top Republican tax writers in Congress want the Treasury to

658
00:37:59,560 --> 00:38:03,080
Speaker 1: explain how a news outletcot private tax information on some

659
00:38:03,239 --> 00:38:06,920
Speaker 1: of the wealthiest Americans. The California Attorney General announced a

660
00:38:06,960 --> 00:38:09,840
Speaker 1: settlement for the city of Fontana, which was accused of

661
00:38:09,920 --> 00:38:13,160
Speaker 1: violating the state's Environmental Quality Act. It's going to mean

662
00:38:13,200 --> 00:38:17,440
Speaker 1: more pollution restrictions for warehouse projects of the city. Bloomberg

663
00:38:17,560 --> 00:38:21,680
Speaker 1: Law everything you need, all on one legal research platform,

664
00:38:21,840 --> 00:38:26,480
Speaker 1: including guidance analysis and Bloomberg market Intelligence. Find out more

665
00:38:26,560 --> 00:38:30,440
Speaker 1: at Bloomberg Law dot com. All right, Jeff, thank you.

666
00:38:30,520 --> 00:38:33,560
Speaker 1: Another legal story we're watching. Twitter has made a move

667
00:38:33,680 --> 00:38:36,520
Speaker 1: to thwart elon Must's effort to take over the company.

668
00:38:36,920 --> 00:38:39,440
Speaker 1: It's launched a poison pill defense to move by the

669
00:38:39,520 --> 00:38:43,200
Speaker 1: social media company's board would allow existing shareholders to buy

670
00:38:43,280 --> 00:38:46,640
Speaker 1: more Twitter stock at a discount. Should anyone gain control

671
00:38:46,719 --> 00:38:49,600
Speaker 1: a fifteen percent of a company without the board's approval

672
00:38:50,080 --> 00:38:53,440
Speaker 1: for more Bloomberg June Grosso speaks to a Laine Kapin,

673
00:38:53,600 --> 00:38:57,080
Speaker 1: a partner at Ferrell Fritz. How much of a deterrent

674
00:38:57,440 --> 00:39:00,600
Speaker 1: is a poison pill? In the history of pison pills,

675
00:39:00,640 --> 00:39:03,560
Speaker 1: and it stretches back about forty years, I'm only aware

676
00:39:03,560 --> 00:39:07,880
Speaker 1: of one documented case in which someone deliberately crossed the

677
00:39:07,920 --> 00:39:11,920
Speaker 1: threshold without board approval, so it does serve as a deterrent.

678
00:39:12,280 --> 00:39:15,400
Speaker 1: I will say that poison pills have fallen out of favor.

679
00:39:15,719 --> 00:39:20,320
Speaker 1: It's received enormous criticism. The main criticisms of poison pills

680
00:39:20,440 --> 00:39:23,600
Speaker 1: or that they entrenched the board and management. They could

681
00:39:23,719 --> 00:39:26,360
Speaker 1: prevent an offer at a premium. They could limit a

682
00:39:26,400 --> 00:39:29,880
Speaker 1: stockholder's ability to increase his ownership as a means to

683
00:39:29,960 --> 00:39:33,160
Speaker 1: influence or challenge management. That, by the way, could be

684
00:39:33,360 --> 00:39:36,560
Speaker 1: what must either is planning on doing or what he

685
00:39:36,719 --> 00:39:39,200
Speaker 1: may end up doing. You know, if he can't pull

686
00:39:39,320 --> 00:39:42,879
Speaker 1: off an acquisition of the entire company, he would sort

687
00:39:42,920 --> 00:39:46,040
Speaker 1: of be a player, perhaps not the largest stockholder, but

688
00:39:46,239 --> 00:39:50,160
Speaker 1: currently he's the second largest stockholder, and with that position

689
00:39:50,200 --> 00:39:54,000
Speaker 1: of influence he can put pressure on management. The sense

690
00:39:54,120 --> 00:39:57,160
Speaker 1: is that the greater ownership position he has, the greater

691
00:39:57,280 --> 00:40:00,239
Speaker 1: influence he can exert on management. But if the because

692
00:40:00,280 --> 00:40:03,560
Speaker 1: of this plan, he will not be able to surpass

693
00:40:03,640 --> 00:40:06,600
Speaker 1: that fifteen percent threshold. And the criticism is that, you know,

694
00:40:06,719 --> 00:40:11,480
Speaker 1: sometimes management needs that outside criticism. So even though it's

695
00:40:11,600 --> 00:40:16,319
Speaker 1: dangerous to try to read into Elon Musk's tweets, let's

696
00:40:16,320 --> 00:40:20,080
Speaker 1: try it. Over the weekend he tweeted love Me Tender,

697
00:40:20,400 --> 00:40:24,839
Speaker 1: the Elvis Prasley song, and people are looking at this as, oh,

698
00:40:25,320 --> 00:40:27,560
Speaker 1: is he going to make a tender offer? So tell

699
00:40:27,640 --> 00:40:31,160
Speaker 1: us what maybe the next phase here. It's unclear that

700
00:40:31,320 --> 00:40:35,520
Speaker 1: he'll be able to launch tender offer, which is typically

701
00:40:35,600 --> 00:40:38,120
Speaker 1: the next step when an acquirer is trying to deal

702
00:40:38,320 --> 00:40:41,600
Speaker 1: directly with the board and that offer is rejected, then

703
00:40:41,640 --> 00:40:43,759
Speaker 1: the next step typically is to go straight to the

704
00:40:43,800 --> 00:40:47,240
Speaker 1: shareholders and go hostile in the form of a tender offer.

705
00:40:47,680 --> 00:40:50,960
Speaker 1: After Friday, with the adoption of the poison pill, it's

706
00:40:51,040 --> 00:40:54,399
Speaker 1: unclear that he'd be able to do that. The announcement

707
00:40:54,480 --> 00:40:57,200
Speaker 1: of a tender offer in and of itself would trigger

708
00:40:57,320 --> 00:41:00,960
Speaker 1: the pill. So that's an avenue that has seemingly didn't

709
00:41:00,960 --> 00:41:03,520
Speaker 1: cut off from Elon Musk. Now he could try and

710
00:41:03,719 --> 00:41:06,920
Speaker 1: challenge the pill and court he's not likely to succeed.

711
00:41:07,239 --> 00:41:10,040
Speaker 1: He could also try to negotiate with the board. If

712
00:41:10,120 --> 00:41:12,839
Speaker 1: he has the funding, then the board would be willing

713
00:41:12,880 --> 00:41:16,080
Speaker 1: to negotiate with him, But presumably the Twitter board would

714
00:41:16,160 --> 00:41:19,600
Speaker 1: want a better price, but that would contradict his earlier

715
00:41:19,680 --> 00:41:23,000
Speaker 1: positions that his offer was the best and final offer.

716
00:41:23,239 --> 00:41:26,360
Speaker 1: So it's unclear that a negotiation with the board is

717
00:41:26,480 --> 00:41:30,719
Speaker 1: something that would be productive here. And that's a law

718
00:41:30,760 --> 00:41:33,279
Speaker 1: on tape in a partner at Ferrell Fritz speaking at

719
00:41:33,280 --> 00:41:36,080
Speaker 1: the Bloomberg's Jim Grosso. Catch more of that interview, plus

720
00:41:36,080 --> 00:41:38,800
Speaker 1: analysis of the latest legal news by listening to the

721
00:41:38,840 --> 00:41:41,800
Speaker 1: Bloomberg Law Show at en pm Eastern Time, or subscribing

722
00:41:41,840 --> 00:41:45,399
Speaker 1: to the Bloomberg Law Podcast and Attorneys Confined exceptional legal

723
00:41:45,520 --> 00:41:49,280
Speaker 1: research and business development tools at Bloomberg Law dot com. Nathan,

724
00:41:49,480 --> 00:41:52,279
Speaker 1: all right, Karen, thank you, it's seven on Wall Street.

725
00:41:52,320 --> 00:41:54,880
Speaker 1: We have some breaking news crossing the Bloomberg terminal on

726
00:41:54,920 --> 00:41:59,280
Speaker 1: the heels of the Transportation Security Administration no longer enforcing

727
00:41:59,400 --> 00:42:04,520
Speaker 1: the ASK mandate on public transportation Uber says it's riders

728
00:42:04,640 --> 00:42:07,480
Speaker 1: and drivers in the US will no longer be required

729
00:42:07,520 --> 00:42:10,719
Speaker 1: to wear masks on rides either. That's according to an

730
00:42:10,800 --> 00:42:13,839
Speaker 1: update on Uber's website. It says many people do still

731
00:42:13,960 --> 00:42:17,400
Speaker 1: feel safer wearing masks because of personal or family health situations,

732
00:42:17,760 --> 00:42:20,360
Speaker 1: so Uber says please be respectful of their preferences, and

733
00:42:20,440 --> 00:42:23,000
Speaker 1: if you ever feel uncomfortable, you can always cancel the trip.

734
00:42:23,080 --> 00:42:27,279
Speaker 1: But again, Uber says, as of this morning, the mask

735
00:42:27,400 --> 00:42:30,880
Speaker 1: policy for riders and drivers is no longer in effect

736
00:42:31,120 --> 00:42:34,239
Speaker 1: for the rides sharing service. Right now, SMP futures are

737
00:42:34,239 --> 00:42:36,880
Speaker 1: down twelve points, stuff features down sixty four, nast at

738
00:42:36,960 --> 00:42:39,560
Speaker 1: features down fifty eight points. The tenure treasury is down

739
00:42:39,680 --> 00:42:43,560
Speaker 1: eight thirty seconds, with the yield two point eight eight percent.

740
00:42:44,200 --> 00:42:47,640
Speaker 1: Bloomberg day break continues. This is Bloomberg