Speaker 1: Live from the Bloomberg indirector Workers studios. This is Bloomberg
Speaker 1: day Break for Tuesday, April nineteen two. Coming up this hour,
Speaker 1: Ukraine says Russia's assault on the don Voss region is underway.
Speaker 1: Most major US airlines are no longer requiring mess on
Speaker 1: domestic flights. A top FED official says a seventy five
Speaker 1: basis point hike may be in play, and Netflix, IBM,
Speaker 1: and Johnson and Johnson all report earnings today. New York
Speaker 1: Mayor Adam says the city is not ready yet to
Speaker 1: bring back into her mask Man dates. Plus, there's a
Speaker 1: rise in migrants, excepting across the US Mexico border. I
Speaker 1: like la bar more ahead, I'm done finished ower sports.
Speaker 1: Yankees are in Detroit that I've met, have a double
Speaker 1: lead with the Giants, NBA playoff wins for Philaelpia Dallas
Speaker 1: and Golden Space. That's all straight ahead on Bloomberg day
Speaker 1: Break on Bloomberg E Living three O, New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Sirius x M one nineteen and around the
Speaker 1: world on Bloomberg Radio dot com via The Bloomberg Business.
Speaker 1: Good morning, I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak
Speaker 1: brought to you by hc Waynewright. Register now for the
Speaker 1: hc W Global Investment Conference, a hybrid event one to six.
Speaker 1: Go to hc W Events dot Com. HCW reserves the
Speaker 1: right in discretion to accept the reject registration or admission. Well.
Speaker 1: US futures are lower this morning, and we're at five
Speaker 1: oh one on Wall Street, and we checked the markets
Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg SMP
Speaker 1: Future is down five points. Dal Future is a little
Speaker 1: change NOWADAY Future is down forty five ten. Your treasury
Speaker 1: down eleven thirty seconds, YEL two point eight nine per cent.
Speaker 1: Nathan Karen will have more on the markets in a minute. First,
Speaker 1: we need to bring you the latest on the war.
Speaker 1: Rusha's assault on Ukraine's don Boss region has begun. Ukrainian
Speaker 1: President Vladimir Zelinski says they will not give up without
Speaker 1: a fight. Amy Morris has details from our bloombergs room
Speaker 1: and Wash Shington. Zelinsky said Russian forces have launched a
Speaker 1: new campaign to conquer the dun Boss region in the
Speaker 1: east of Ukraine. A significant part of the entire Russian
Speaker 1: army is now concentrated on this offensive. No matter how
Speaker 1: many Russian troops are driven there, we will fight. Meanwhile,
Speaker 1: the US military will start training Ukrainian troops on how
Speaker 1: to operate the howitzers that the US is sending Ukraine.
Speaker 1: Pentagon spokesman John Kirby that training will occur outside of
Speaker 1: Ukraine and then then we reintroduced back into their country
Speaker 1: to train their colleagues. This as the remaining defenders of
Speaker 1: Mariopol are surrounded by Kremlin forces, but they have not
Speaker 1: surrendered that keyport city in Washington. I'm Amy Morris Bloomberg daybreak,
Speaker 1: All right, Amy, thank you about President Joe Biden will
Speaker 1: hold a call with key allies later today to discuss Ukraine. Meanwhile,
Speaker 1: the US has backed off any suggestion that its officials
Speaker 1: with boycott Group of Twenty meetings this week if Russia
Speaker 1: takes part. The Treasury to Irvin, says Secretary Chanted Yellen,
Speaker 1: will participate in some sessions this week well. The war
Speaker 1: has in part led the World Bank to cut its
Speaker 1: two economic outlook Karen and the Bank's chief economist Carmen
Speaker 1: Reinhart added she would not rule out further downgrades. In
Speaker 1: an interview with Bloomberg, Reinhart laid out the downside risks
Speaker 1: facing the global economy, array of disruptions from China's new lockdowns,
Speaker 1: from the impacts yet to be fully felt of the
Speaker 1: Russia Ukraine war on on food prices, on global supply chains,
Speaker 1: and if you know, bad came to worse, Uh, could
Speaker 1: there be another episode of financial contagion? The World Bank
Speaker 1: Chief economist Carmen Reinhart says growth will slow to three
Speaker 1: point two percent from a January prediction of four point
Speaker 1: one percent. Meanwhile, Nathan Saying, Louis FED President James Bullard
Speaker 1: said the FED needs to move quickly to raise rates
Speaker 1: to around three and a half percent this year. He
Speaker 1: also says that central bank should not roll out rate
Speaker 1: increases of seventy five basis points to fight inflation. I
Speaker 1: would point out that uh cycle UH where we raised
Speaker 1: the policy rate three basis points in the year, and
Speaker 1: in that cycle, UH, there was a seventy five basis
Speaker 1: points increase at one point UM. So I wouldn't rule
Speaker 1: it out, but it's not my base case here, saying
Speaker 1: theist FED president James Bullard also said that talk of
Speaker 1: a US recession is premature. Well, Bullard's hawk ish comments
Speaker 1: maybe piling onto weakness for a traditional haven currency. The
Speaker 1: Japanese yen is weaker against the dollar for a thirteenth
Speaker 1: straight day. It's extending its longest losing streak in at
Speaker 1: least a half century. Right now, the end is trading
Speaker 1: at one point three four against the dollar. Now. The
Speaker 1: latest on the pandemic Nathan and a major development in
Speaker 1: the air, The Transportation Security Administration says it will no
Speaker 1: longer enforce the COVID mask mandate on public transportation, and
Speaker 1: Bloombergette Baxter has the story. This after a Florida judge
Speaker 1: struck down the remainder of the mandate, saying the CDC
Speaker 1: went too far. The t s A says for now
Speaker 1: it will not enforce a masking bandate. White House Folks
Speaker 1: Women Jimsaki says the ruling is disappointing. We also think
Speaker 1: the mask commandate should be in place and that it's
Speaker 1: safer for individuals for flying to continue to wear masks.
Speaker 1: So the major US air carriers have now made masking
Speaker 1: optional for the time being. Delta United Southwest Alaska, American.
Speaker 1: Some of the international flights will continue to have the
Speaker 1: mandate for now. In San Francisco, I'm at Baxter Bloomberg Daybreak,
Speaker 1: All right, and thank you. Turning into corporate earnings, we
Speaker 1: hear from more than a dozen companies in the SMP
Speaker 1: five hundred today. They include IBM, Johnson and Johnson, and Netflix.
Speaker 1: Bloomberg's Tom Busby joins us with a Netflix preview. Shares
Speaker 1: of the streaming leader have taken a real beating since
Speaker 1: its last earnings report in January, down about thirty three percent.
Speaker 1: That follows a disappointing outlook for subscriber growth amid a
Speaker 1: flood of competition, but key to its first quarter results
Speaker 1: out later today the impact of a recent price increase
Speaker 1: and the suspension of service in Russia, and both could
Speaker 1: have a negative impact on results. Still, forecast goal for
Speaker 1: two point eight million subscriber ads for a total of
Speaker 1: nearly two hundred twenty five million worldwide. Look for earnings
Speaker 1: per share of two dollars cents and revenue of seven
Speaker 1: point nine five billion dollars. Tom Busby, Bloomberg Daybreak, All right, Tom,
Speaker 1: thank you on new developments this morning on Elon Musk's
Speaker 1: forty three billion dollar pursuit of Twitter. We get the
Speaker 1: latest line from Bloomberg's renied a Young, good Morning Ready down,
Speaker 1: Good Morning Care, and Bloomberg sources say Apollo Global Management
Speaker 1: is considering backing a potential deal for Twitter and could
Speaker 1: provide Elon Musk or another bidder like private equity firm
Speaker 1: Tomo Bravo, with equity or debt to support an offer.
Speaker 1: The participation would come in the form of credit or
Speaker 1: preferred equity. Of filing from last week shows Morgan Stanley
Speaker 1: as advising Musk in his unsolicited offer to take over
Speaker 1: Twitter and to take it private, and Twitter is enlisting
Speaker 1: the help of Goldman, Saxon, JP, Morgan Chase to respond
Speaker 1: to Musk's hostile bid Live in New York, I'm rened
Speaker 1: a young Bloomberg day Break, Okay, Nita, thank you. On
Speaker 1: a bullish stock call on Musk's company, Tesla, cathy Woods
Speaker 1: Our Investment Management now expects shares of the electric carmaker
Speaker 1: to more than quadruple to forty dollars by six. Cathy
Speaker 1: Wood has long been an ardent supporter of Tesla and
Speaker 1: CEO Elon Musk. Tesla is the largest solding in woods
Speaker 1: flagship our Connovation ETF. This is Bloomberg and it's now
Speaker 1: five oh seven on Wall Street where a forty five
Speaker 1: degrees in Central Park. We are under a flood watch.
Speaker 1: It's got the hutch close from Cross County Parkway to
Speaker 1: Lincoln Avenue. Tails on all the closures coming up in traffic.
Speaker 1: First Michael Barr with more on what's going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Nathan. Now that an indoor mask mandate is back
Speaker 1: and plays in Philadelphia, will New York City do the same?
Speaker 1: COVID nineteen case numbers are rising in several cities. Mayor
Speaker 1: Eric Adams, who had been quarantining due to having the virus,
Speaker 1: was asked about mass rules in the city. We are
Speaker 1: advising New Yorker is uh to wear a mask, but
Speaker 1: we're not at the point of mandate right now. We
Speaker 1: are hospitalizations at a steady level. Depthside of steady level,
Speaker 1: Mayor Adam says, we are encouraging New Yorkers to wear
Speaker 1: the mask if you feel uncomfortable. The Supreme Court is
Speaker 1: declining to wade into a lawsuit filed by four New
Speaker 1: York City public school employees it's over a policy that
Speaker 1: they'd be vaccinated against COVID. Nineteen Judge's ruled Amazon must
Speaker 1: reinstate a former employee who was fired in the early
Speaker 1: days of the pandemic after leading a protest in Statn
Speaker 1: Island calling for the company to do more to protect
Speaker 1: workers against COVID. The judge rule that Amazon must offer
Speaker 1: the former worker, Gerald Bryson, his job back, as well
Speaker 1: as lost wages and benefits. The Biden administration is pledging
Speaker 1: not to litter in space. Vice President Harris said that
Speaker 1: the US no longer engage in anti satellite missile testing
Speaker 1: in space. Harris explained the testing causes debris and it's
Speaker 1: dangerous to research and facilities like the International Space Station.
Speaker 1: A piece of space debris the size of a basketball,
Speaker 1: which travels at thousands of miles per hour, would destroy
Speaker 1: a satellite. Even a piece of debris as small as
Speaker 1: a grain of sand could cause serious damage. Vice President
Speaker 1: Harris says we are the first nation to make such
Speaker 1: a commitment and called on other nations to follow. The
Speaker 1: number of migrants attempted to cross the US Mexico border
Speaker 1: has surged in recent weeks. It comes as the US
Speaker 1: prepares for even larger numbers with the expected lifting of
Speaker 1: a pandemic era order that turned away asylum seekers. Immigration
Speaker 1: authorities stopped migrants more than two hundred twenty one thousand
Speaker 1: times along the Southwest border in March, the highest in
Speaker 1: nearly two decades. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: twenty seven hundred journalists and analysts more than tw countries.
Speaker 1: Michael Barr, This is Bloomberg, Nathan, Michael, thank you. Count
Speaker 1: up to five ten on Wall Street time for the
Speaker 1: Bloomberg Sports Updake, Good morning, John stonsho Your morning, Nathan.
Speaker 1: First of the game two, his first round of the
Speaker 1: NBA playoffs in Philadelphia, six years a second straight route
Speaker 1: of Toronto on ninety seven, Joe l m being scored
Speaker 1: thirty one in Dallas. The MAVs were again without their
Speaker 1: star Luca Donston, but Jalen Brunson pot in a career
Speaker 1: I forty one point one one oh four over Utah
Speaker 1: to tie that series at one, Golden State by twenty
Speaker 1: over Denver. Steph Curry off the bench thirty four points
Speaker 1: in just twenty three minutes, and the Warriors go up
Speaker 1: to Zip the Celtics. Marcus Smart named Defensive Player of
Speaker 1: the Year, first guard to win since Gary Payton and
Speaker 1: Peyton went to Celtics practice in Boston to tell Smart
Speaker 1: he had won. Celtics Nets Game two tomorrow. Ian Boston
Speaker 1: Rangers on the Winnipeg Jets tonight at the Garden, Carolina
Speaker 1: one last night. So the Keynes lead the Rangers by
Speaker 1: two points as they battled the win. The Metropolitan Division
Speaker 1: Mets and Giants reigned out. Single admission doubleheader starts at
Speaker 1: three o'clock. Tyler mcguil. You have to allow a run
Speaker 1: and two starts goes in the opener Max Scherz or
Speaker 1: the nightcap his first met start at City Field. Garrett
Speaker 1: Cole for the Yankees in Detroit. Jake Garrietta retiring at
Speaker 1: age thirty six. He struggled in recent years. Arietta won
Speaker 1: the nls I Young Award and they in two thousand fifteen.
Speaker 1: But the Cubs NFL Draft starts awake from Thursday in
Speaker 1: Las Vegas. Been a lot of quarterback movement this offseason.
Speaker 1: Will there be another move before the draft? Carolina said
Speaker 1: to be trying to acquire Baker Mayfield from Cleveland, Who's
Speaker 1: gonna do? QB and Deshaun Watson speaking of QB's latest
Speaker 1: edition of Made for TV Golf June one in Las Vegas.
Speaker 1: Tom Brady and Aaron Rodgers versus Patrick Mahomes and Josh Allen.
Speaker 1: All four are single digit handicapped golfers. Johns Dashar Bloomberg
Speaker 1: Sports David, is there nothing they can't do? Thank you?
Speaker 1: John SMP futures down six point, staff features down seventeen,
Speaker 1: nastic futures down forty five points. The tenure treasury right
Speaker 1: now down eleven thirty seconds, the old two point eight
Speaker 1: nine per cent. This is Sploomberg Bloomber eleven three oh
Speaker 1: weather flood watch till eight this morning. It'll turn mostly
Speaker 1: sunny this afternoon, breezy with highs in the mid fifties
Speaker 1: near sixty, and sunny tomorrow low sixties, mostly cloudy on Thursday.
Speaker 1: Right now rain and forty five degrees. Markets headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business Out and at Bloomberg Quick Tape. He's
Speaker 1: a Bloomberg Business Flash and I'm Cameron Moscow. Stocks in
Speaker 1: Europe are lower. Bond yields are climbing as markets reopened
Speaker 1: after a holiday amid hawkish comments by Federal Reserve officials
Speaker 1: and Russia's renewed campaign in eastern Ukraine. Um Stocked index
Speaker 1: futures are lower, and we checked the markets every fifteen
Speaker 1: minutes throughout the trading day. On bloomberg S and p
Speaker 1: futures are done about eight points down. Futures down twenties
Speaker 1: seven nasdack future years down fifty two the decks in
Speaker 1: Germany's down one percent. Ten year treasury down ten thirty seconds,
Speaker 1: yield two point eight nine percent. That yield on a
Speaker 1: two year two point four six percent. NIMEX screwed oil
Speaker 1: is down one and a half percent on a dollar
Speaker 1: fifty nine at a hundred six dollars sixty two cents
Speaker 1: of barrel. Comics gold is down three ten percent or
Speaker 1: six dollars twenty cents a nine thirty announced. The euro
Speaker 1: one point o eight o two against the dollar, British
Speaker 1: pound one point three zero three five, the yen at
Speaker 1: one twenty eight point three two, and bitcoin is it'll
Speaker 1: changed at forty thousand and six d eighty dollars. Today.
Speaker 1: We are watching for reports on housing starts and building
Speaker 1: permits at at eight thirty Wall Street time, and Netflix
Speaker 1: is among companies scheduled to report earnings today. That's a
Speaker 1: Bloomberg business flash. Now here's Muckle Bar with Moore and
Speaker 1: what's going on around the world, muncle, Good morning, Good
Speaker 1: morning Karen. After days of regrouping and reinforcing, the Russian
Speaker 1: military began it in phase of the war in Ukraine.
Speaker 1: Ukrainian officials said that the Kremlin's forces launched a full
Speaker 1: scale ground offensive to take control of the country's industrial heartland,
Speaker 1: the Dunbass region. Most major US airlines are no longer
Speaker 1: requiring travelers or employees where face coverings on domestic in
Speaker 1: some international flights. The decisions came after a US judge
Speaker 1: overturned to federal mandate for passengers to cover their faces.
Speaker 1: In MLB, the Red Sox lost The A's beat the
Speaker 1: Orioles five one in the NBA Playoffs. The Warriors beat
Speaker 1: the Nuggets to lead the series two games to zip.
Speaker 1: In the NHL, the Devil's and Capitals one Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take power by more than twenty seven hundred journalists
Speaker 1: analysts more than a hundred twenty countries. Michael Barron, this
Speaker 1: is Bloomberg Nain. Okay, Michael, thank you. It's five nineteen
Speaker 1: on Wall Street Line from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak on a morning that seems like
Speaker 1: new phases is turning out to be a theme this morning.
Speaker 1: The war in Ukraine potentially entering a second phase in
Speaker 1: the Don Boss region, and the US response to COVID
Speaker 1: nineteen entering a new phase on public transportation. Let's get
Speaker 1: into all this this morning, Bloomberg Washington correspondent Joe Matthews
Speaker 1: with US host of Sound on here on Bloomberg Radio. Joe,
Speaker 1: let's start with the war in Ukraine. As we've been mentioning,
Speaker 1: the President, Vladimir z Olinski is saying that the new
Speaker 1: phase is under way now in the Don Boss and
Speaker 1: we understand President Biden is going to be holding another
Speaker 1: call with allies to weigh the response. A lot of
Speaker 1: these calls. The latest one will happen this afternoon with
Speaker 1: the leaders of France, Germany, Italy, Japan, Canada, Poland, Romania,
Speaker 1: the UK. They're gonna be talking about the war effort
Speaker 1: and specifically coordinating the delivery of weapons. You know, we've
Speaker 1: been sending weapons to Ukraine, not just the US but
Speaker 1: our European allies now for a couple of months, Nathan,
Speaker 1: and and the repeated refrain that we hear from Kiev
Speaker 1: is we need more, better, faster. A lot of this
Speaker 1: stuff is taking time to get there. And now that,
Speaker 1: as you point out, President Zelenski is calling this, uh
Speaker 1: the new phase, the battle for done Boss has begun.
Speaker 1: There is a new urgency to get some of the
Speaker 1: heavier equipment in the hands of Ukrainian forces. What kind
Speaker 1: of equipment show are we talking about here? We've heard
Speaker 1: the talk in the past about fighter jets. It seemed
Speaker 1: like that was off the table. What what, what sort
Speaker 1: of equipment could we be looking at? Those fighter jets
Speaker 1: appear to still be off the table, by the way,
Speaker 1: the big twenty nines from Poland that never got to Ukraine.
Speaker 1: Although we have been apparently clearing helicopters m I seven teams,
Speaker 1: which are Russian helicopters. We already gave several earlier this year.
Speaker 1: More on the way. But the idea with these weapons, Nathan,
Speaker 1: is to create some distance. This is gonna be a
Speaker 1: slightly different strategy now as we head into open warfare
Speaker 1: in rural country sort of areas as opposed to the
Speaker 1: street to street city fighting. Howitzer's are a major component
Speaker 1: of this. The big field cannons that can shoot projectiles
Speaker 1: at very long trajectors twenty five miles away. These are
Speaker 1: the types of weapons that we want to get over
Speaker 1: there now that are actually in transit, along with missiles
Speaker 1: ground to air missiles that can take out Russian jets
Speaker 1: and could in fact be more effective than the big
Speaker 1: according to the Pentagon, is there still a concern Joe,
Speaker 1: that more heavy weaponry could draw the US and NATO
Speaker 1: more directly into the war. We saw that attack apparently
Speaker 1: just yesterday in Leviv, very close to the border of Poland,
Speaker 1: only about forty miles away. That's a big deal. That's
Speaker 1: been a base for refugees, for government officials, uh and
Speaker 1: for news media, the reporters all over Laviv, crossing back
Speaker 1: and forth. Of course, the president was along the border
Speaker 1: of Poland not that far from there. And so yes,
Speaker 1: there are a lot of concerns about this widening sort
Speaker 1: of conflict here. And it was just on Sunday morning
Speaker 1: that Senator Chris Coons, the Democrat from Delaware who now
Speaker 1: sits in the seat once held by Joe Biden, a
Speaker 1: very close ally to to Biden, and this White House
Speaker 1: suggested openly on Sunday Morning television that we start having
Speaker 1: the conversation about American ground troops potentially being in Ukraine.
Speaker 1: It's something that the President has drawn the line on,
Speaker 1: says he won't do it. But this conversation for being
Speaker 1: started by a Democrat is remarkable. At this time with
Speaker 1: atrocities just building up on one on top of the other,
Speaker 1: and and horrifying images coming from Ukraine, the pressure on
Speaker 1: this White House when it comes to troops could escalate
Speaker 1: in the coming weeks. And on the last minute, we
Speaker 1: have here Joe speaking of pressure on the White House.
Speaker 1: It looks like it's buckled, perhaps on the mask mandate
Speaker 1: in the air about it. This is following, of course,
Speaker 1: the Supreme Court knocking down the Biden administrations vax or
Speaker 1: mask mandate for the workplace. Uh. The CDC came out
Speaker 1: last night said the mandate is over. Before that, Press
Speaker 1: Secretary Jensaki said the dj was refewing reviewing the decision
Speaker 1: that there may or may not be a legal answer
Speaker 1: to this. She called it a disappointing decision, but it
Speaker 1: may be out of the hands of the White House now.
Speaker 1: So is there a possibility in just the last couple
Speaker 1: of seconds here that there could be uh, some pushback
Speaker 1: from the White House. There absolutely is a possibility. Once
Speaker 1: we hear from the d o J and they decide
Speaker 1: whether there's a legal option here, we'll know a little
Speaker 1: bit more about it. But this story could be over
Speaker 1: as of now. Once you once you put that mask
Speaker 1: mandate down, it's pretty hard to reinstate at Nathan. A
Speaker 1: lot of people were cheering on flights last night and
Speaker 1: some say they'll wear a mask no matter what. It's
Speaker 1: kind of like trying to put a genie back in
Speaker 1: the bottle right now, that's right. Joe Matthew, host of
Speaker 1: Bloomberg Sound On here on Bloomberg Radio, will have much
Speaker 1: more on all these stories. Then at five pm Wall
Speaker 1: Street time, you can catch Joe on sound On, and
Speaker 1: we're gonna be checking back with him later on this
Speaker 1: morning on Bloomberg Daybreak. So stick around for that. SMP
Speaker 1: futures right now down ten points down, futures down forty five,
Speaker 1: Nasdaq futures down sixty four points. The tenure Treasury is
Speaker 1: down ten thirty seconds. The yield right now on the
Speaker 1: tenure note two point eight nine percent. You're listening to
Speaker 1: Bloomberg Day Brady Bloomberg eleventh three oh weather flood watch
Speaker 1: till eight am. It will turn mostly sunny this afternoon,
Speaker 1: breezy with a high in the mid fifties, upper fifties.
Speaker 1: Sunny Tomorrow, mostly cloudy, low sixties on Thursday. Right now,
Speaker 1: rain and forty five degrees. Broadcasting live from the Bloomberg
Speaker 1: Interactive Broker Studio in New York. Bloomberg E Living free
Speaker 1: to Washington, d C. Bloomberg nine one to Boston, Bloomberg
Speaker 1: one O six one to San Francisco, Bloomberg nome sixt
Speaker 1: to the country, Sirius XM chand A one nine and
Speaker 1: around the globe the Bloomberg Business app and Bloomberg Radio
Speaker 1: dot Com. This is Bloomberg Daybreak. It's five thirty on
Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow,
Speaker 1: and we are just about four hours away from the
Speaker 1: open of US trading. Let's get you have to date
Speaker 1: of the news you need to know at this hour.
Speaker 1: We begin with the war in Ukraine, where Russia's military
Speaker 1: shell in the southern and eastern Ukraine. Overnight, President Vladimir
Speaker 1: z Lensky says Moscow is focusing its efforts on conquering
Speaker 1: the eastern the don Bus region. Russian troops begun the
Speaker 1: battle for the dome Bus for which they have been
Speaker 1: preparing for a long time. A significant part of the
Speaker 1: entire Russian army is now concentrated on this offensive. Ukrainian
Speaker 1: President vladimir's Lenski says his nation will continue to defend
Speaker 1: the region. The US President Joe Biden will hold a
Speaker 1: call with key allies Tuesday to discuss the war. The meantime,
Speaker 1: here in the US is still expected to participate a
Speaker 1: group of twenty meetings this week even if Russia attends.
Speaker 1: Treasury Secretary Janet Yellen had previously said the US may
Speaker 1: boycott some meetings should Russia participate, but a senior Treasury
Speaker 1: official says Yellen does not want Russia to stop the
Speaker 1: US and allies from the work it needs to do.
Speaker 1: At the well I mid fallout from the war, Nathan
Speaker 1: World Bank chief economist Carmen Reinhardt tells Bloomberg it's cutting
Speaker 1: its econom outlook. Will it be cut again. Certainly, wouldn't
Speaker 1: rule it out. But the point I'm making is we
Speaker 1: are living a period conceptional uncertain and World Bank Chief
Speaker 1: economist Carmen Reinhardt says it's lowering estimates for global growth
Speaker 1: from four point one percent in January to three point
Speaker 1: two percent. I Here in the US, Karen A judge
Speaker 1: has overturned the federal mandate for passengers to cover their
Speaker 1: faces on flights, and the five largest US carriers say
Speaker 1: they have dropped mask mandates on domestic and some international flights. Well.
Speaker 1: Nathan moving to tech new developments in Elon musk forty
Speaker 1: three billion dollar pursuit of Twitter. If we get the
Speaker 1: latest line from Bloomberg's Randy too Young, Good Morning ny Down,
Speaker 1: Good Morning Karen. Bloomberg. Sources say Apollo Global Management is
Speaker 1: considering backing a potential deal for Twitter and could provide
Speaker 1: Elon Musk or another bidder like private equity firm Tomo Bravo,
Speaker 1: with equity or debt to support an offer. The participation
Speaker 1: could come in the form of credit or preferred equity. Finally,
Speaker 1: from last week shows Morgan Stanley is advising Musk and
Speaker 1: is offered to take Twitter private, and Twitter is enlisting
Speaker 1: the help of Goldman Sax and JP Morgan Chase to
Speaker 1: respond to Musk's hostile bid. Live in New York, I'm
Speaker 1: goned a young Bloomberg daybreak. I need to thank you
Speaker 1: tech giant. Netflix reports earnings today, Annalyst, we'll look at
Speaker 1: how a recent price increase in suspension of service in
Speaker 1: Russia impacts first quarter results and futures are lower this morning.
Speaker 1: S and P Future is down twelve points down, futures
Speaker 1: down sixty two. Straight ahead your latest local headlines plus
Speaker 1: a check of sports, and this is Bloomberg. All right, Karen,
Speaker 1: thank you. It's five thirty three on Wall Street where
Speaker 1: forty five degrees in central Parking. This flooding as the
Speaker 1: southbound Deigan closed between the Cross Bronx through Yankees Stadium.
Speaker 1: Details coming up in traffic. First. Michael Barr with more
Speaker 1: on what's going on in New York and around the world.
Speaker 1: Michael Nathan, thank you very much. Will New York City
Speaker 1: bring back an indoor mask mandate like Philadelphia COVID nineteen
Speaker 1: case numbers are rising and filling in other cities. Mayor
Speaker 1: Eric Adams says New York is not at the point
Speaker 1: of mandating right now. We are encouraging New Yorker is
Speaker 1: you know, with a mask, if you feel uncomfortable, if
Speaker 1: you don't know the satisfy persons vaccine, if you had gatherings.
Speaker 1: So there is an encouragement we're putting out to New
Speaker 1: York Is. We're just not have to place a mandate
Speaker 1: right now. Mayor Adams has hospitalizations and deaths are at
Speaker 1: a steady level in the city. U S Customs says
Speaker 1: the number of migrants attempting to cross the US Mexico
Speaker 1: border has surged in recent weeks. It comes as the
Speaker 1: US prepares for even larger numbers with the expected lifting
Speaker 1: of a pandemic era order that turned away asylum seekers.
Speaker 1: Authorities say there was a thirty four percent increase and
Speaker 1: stopped migrants at the southwest border in March compared to
Speaker 1: the previous month. The US won't test some anti satellite
Speaker 1: weapons in space. The move comes after Moscow blew up
Speaker 1: a dead satellite last November, where the ground launched Whistle.
Speaker 1: Vice President Kamala Harris says that space debris could endanger
Speaker 1: the International Space Station or spacecraft. This debris presents a
Speaker 1: risk to the safety of our astronauts, our satellites, and
Speaker 1: our growing commercial presence. Vice President Harris says fast moving
Speaker 1: to breed like the size of a basketball, could destroy
Speaker 1: a satellite. The fiancee a former President Donald Trump's eldest son,
Speaker 1: Kimberly Gilfoyle, is said to have met with the House
Speaker 1: committee yesterday investigating the US Capital riot. Lawmakers say she
Speaker 1: raised funds for the rally and was in direct contact
Speaker 1: with its key participants. A lawyer for recently resigned New
Speaker 1: York Lieutenant Governor Brian Benjamin told Manhattan judge yesterday that
Speaker 1: he expects a lively challenge to corruption charges brought against
Speaker 1: Benjamin last week. The charges include bribery, fraud, and conspiracy.
Speaker 1: Global Names twenty four hours a day on airand on
Speaker 1: Bloomberg Quick Take, powered by more than twenty of a
Speaker 1: hundred journalists and analysts in more than twenty countries. Michael Barr,
Speaker 1: this is Bloomberg NA. Thank you, Michael five on Wall
Speaker 1: Street time for the Bloomberg Sports Update with John Stshow.
Speaker 1: Right date. Then, after playing ten straight days, perhaps the
Speaker 1: day off with the Yankees needed. They're in Detroit tonight.
Speaker 1: They just had two losses to the lowly Orioles in
Speaker 1: those losses. In twenty innings, they scored one run, struck
Speaker 1: out twenty three times. The team batting averages under two thirty,
Speaker 1: same problems as last year. The manager Aaron We got
Speaker 1: a few guys that are swinging it pretty well, uh,
Speaker 1: and off the pretty good starts. Um, but I'm gonna
Speaker 1: bet on the track record of a few other guys
Speaker 1: that are gonna, you know, have the kind of seasons
Speaker 1: we're used to provided health. Uh. I believe that, Um,
Speaker 1: there's good reason to think that a couple of guys that, um,
Speaker 1: you know, had down years maybe by their standards are
Speaker 1: and will you know, kind return to what week stag
Speaker 1: nets are seven and three Giants or seven and two
Speaker 1: doubleheader today in tonight's city field, making up last night's
Speaker 1: rainowt NBA playoffs, Golden States hopes arrested and getting Steph
Speaker 1: Curry back from the injured foot that sidelined in the
Speaker 1: last month of the regular season. He's back. They're using
Speaker 1: him off the bench, so Curry only played twenty three minutes.
Speaker 1: He scored thirty four points. Warriors beat Denver by twenty
Speaker 1: lead the series tune up in Philadelphia, another easy win
Speaker 1: over Toronto Dallas Speed Utah Jalen Brunson forty one points
Speaker 1: for the MAVs. That series tied to won three more
Speaker 1: game twos Tonight Nets Celtics team to in Boston tomorrow
Speaker 1: NHL Carolina one. So the Rangers need to beat Winnipeg
Speaker 1: tonight at the Garden to get back into a tie
Speaker 1: for first in the Metropolitan Division. Down Stash Howard Bloomberg, Sports,
Speaker 1: Nathan right John, Thank you seven on Wall Street time
Speaker 1: for the Tri State Business Report. Here's Bloomberg's head Cory.
Speaker 1: The Supreme Court has declined to review a New York
Speaker 1: led constitutional challenge to the ten thousand dollar camp on
Speaker 1: state and local tax deductions. The High Court issued in
Speaker 1: order Monday nawing a request from New York, New Jersey, Connecticut,
Speaker 1: and Maryland to review a decision of the US Court
Speaker 1: of Appeals for the second circuit. Amazon dot Com workers
Speaker 1: at a facility in New Jersey have met the threshold
Speaker 1: the Holy Union election. The development comes just weeks after
Speaker 1: employees at a Staten Island warehouse became the first to
Speaker 1: unionis in the company's US history. Local seven thirteen International
Speaker 1: Brotherhood of Trade Unions is hoping to unionize two hundred
Speaker 1: workers at an Amazon facility in Bayon, New Jersey. Meanwhile,
Speaker 1: some baristas in West Hartford, Connecticut want to unionize the
Speaker 1: Corbins Corner Starbucks. That would be the first Starbucks in
Speaker 1: Connecticut to unionies. And only what of a handful nationwide?
Speaker 1: That your Bloomberg Trying State Business report. I'md Corey, Thank
Speaker 1: you at five thirty eight on Wall Street. Bloomberg Radio
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Speaker 1: news team for some of the top stories heard on
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Speaker 1: Steve Potos, got on ten ten Wins in New York.
Speaker 1: We're talking about Abercromby and Fish starring as the latest
Speaker 1: corporate villain in a Netflix film. M Cornita hold on
Speaker 1: ktr H in Houston. More than half of college grads
Speaker 1: don't work in the field they study. I'm John Tucker
Speaker 1: for w BBM in Chicago. I'm reporting the fertilizer cross
Speaker 1: are threatening to make a food crisis even worse. I
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Speaker 1: reporting lawmakers are joining the Pentagon and pushing for trans
Speaker 1: time to pay millions in refunds for the contst of
Speaker 1: military spare park. And those are some of the stories
Speaker 1: our twenty seven hundred Bloomberg journalists and analysts are working
Speaker 1: on this morning around the world. It's five thirty nine
Speaker 1: on Wall Street. The following is an editorial from Bloomberg Opinion.
Speaker 1: As I am f negotiators try to agree on a
Speaker 1: bailout for Sri Lanka this week, they'll no doubt push
Speaker 1: for economic reforms, but any such rescue will fail without
Speaker 1: political change. An earlier government, led by then President Mahinda Rajapaksa,
Speaker 1: saddled Sri Lanka with unsustainable debts when his brother got
Speaker 1: to buy a Rajapaksa swept to power in twenty nineteen.
Speaker 1: He packed the government with cronies and relatives and made
Speaker 1: still more economic blunders. Now, with less than two billion
Speaker 1: dollars in foreign exchange reserves left, the country is running
Speaker 1: out of money to pay for essential imports. Consumer prices
Speaker 1: rose nearly nineteen percent in March from a year earlier,
Speaker 1: and protesters have filled the streets the US, India and
Speaker 1: other partners should ease Sri Lancan's pain with much needed
Speaker 1: food aid while pressing for political reforms. Sri Lancans shouldn't
Speaker 1: have to pay such a high price for their leader's mistakes.
Speaker 1: This editorial was written by the Bloomberg Opinion Editorial Board.
Speaker 1: I'm David Shipley. For more Bloomberg opinion, please go to
Speaker 1: Bloomberg dot com, slash opinion or OPA and go on
Speaker 1: the Bloomberg terminal. These has been Bloomberg opinion and you
Speaker 1: can hear Bloomberg opinion editorials every weekday. At this time,
Speaker 1: terminal customers can read more at O, P I n GO.
Speaker 1: SMP future is down down eleven points, stout futures down
Speaker 1: sixty two, nastack futures down fifty seven points ten. Your
Speaker 1: treasury yield two point eight nine the end at one
Speaker 1: point four zero against the dollar. We'll talk about the
Speaker 1: slide in the haven currency with Stephen Gallo of Bank
Speaker 1: of Montreal. This is Bloomberg Bloomberg eleven three oh weather
Speaker 1: flood watch until eight am. It will turn mostly sunny,
Speaker 1: mid fifties this afternoon, upper fifties maybe sixty in the sunshine. Tomorrow,
Speaker 1: clouds and low sixties Thursday right now, rain and forty
Speaker 1: five degrees. Markets, headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, The Bloomberg Business at
Speaker 1: and at Bloomberg Quicktake. This is a Bloomberg Business Flash
Speaker 1: and I'm Karen Moscow. Stop seeing. Europe are moving lower.
Speaker 1: Bond yields are climbing as markets reopened after a holiday,
Speaker 1: a med hawk ish com ments by Federal Reserve officials
Speaker 1: and Russia's renewed campaign in eastern Ukraine. US dock index
Speaker 1: futures are moving lower, and we checked the markets every
Speaker 1: fifteen minutes throughout the trading day. On Bloomberg s and
Speaker 1: P futures down eleven points this morning. Down Future is
Speaker 1: down fifty two. NASDACK futures down fifty three. The decks
Speaker 1: in Germany's down one percent. Ten year treasury down nine
Speaker 1: thirty seconds two point eight eight percent. They yield on
Speaker 1: the two year two point four or five percent. Nine
Speaker 1: max Screwed oil is down one point seven percent on
Speaker 1: a dollar eighty four at a hundred six dollars thirty
Speaker 1: seven cents a barrel. Comc school down a third of percent,
Speaker 1: or seven dollars twenty cents at nineteen seventy nine. Ten
Speaker 1: announced the euro one point eight oh six against the dollar,
Speaker 1: British pound one point three zero three seven, the yen
Speaker 1: at one twenty eight point three six, and bitcoin this
Speaker 1: morning is little changed at forty thousand, six hundred to
Speaker 1: sixty dollars. That's a Bloomberg business flash. Now here's Michael
Speaker 1: bar with Moore on what's going on around the world.
Speaker 1: Michael Karen, thank you very much. Russia has a military
Speaker 1: targeted regions in Ukraine, South and East still overnight for showing.
Speaker 1: Ukrainian President volodimirz Lensky says Moscow has we've got a
Speaker 1: new campaign to conquer the Donbas area in the east
Speaker 1: of the country. The fiance of former President Donald Trump's
Speaker 1: eldest son, Kimberly Gilfoyle, met with the House committee investigating
Speaker 1: the US Capitol Riot and attorney representing Gilfoyle and has
Speaker 1: previously stated that she has done nothing wrong. In MLB,
Speaker 1: the Red Sox lost the A's beat the Orioles five one.
Speaker 1: In the NBA playoffs, The Warriors beat the Nuggets to
Speaker 1: leave the series now two games to zip. In the NHL,
Speaker 1: Devil's and Capitals one Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quicktake, powered by more
Speaker 1: than twenty seven hundred journalists and analysts more than twenty countries.
Speaker 1: Michael bar this is Bloomberg. Nathan Okay, Michael, thank you.
Speaker 1: It is nine on Wall Street Line from the Bloomberg
Speaker 1: Interractor Broker Studios. This is Bloomberg Daybreak. We want to
Speaker 1: turn now to what's happening in currency markets, and the
Speaker 1: big mover this morning is the Japanese yen. That currency
Speaker 1: is weaker against the dollar for a thirteen straight session,
Speaker 1: extending the longest losing streak for the end and at
Speaker 1: least a half century. Joining us for more on this
Speaker 1: is Stephen Gallo, FX strategist at Bank of Montreal Capital Markets. Steven,
Speaker 1: it's good to speak with you this morning. What's behind
Speaker 1: the short bets for the end? Well, I think the
Speaker 1: fear factors here. Um. The short end position in G
Speaker 1: ten has been the FX markets preferred short. One reason
Speaker 1: for this is that unlike Europe, the event risk is
Speaker 1: pretty low. Um. The b o J basically gave the
Speaker 1: green light for a weaker yen and its last policy decision,
Speaker 1: and then you've got the flows picture of kind current
Speaker 1: account in FDI flows i've generally been trending weaker. There
Speaker 1: also seemed to be splits between the Ministry of Finance
Speaker 1: and the b o J over which direct UM. So
Speaker 1: the FX market I think is feeding off this policy uncertainty.
Speaker 1: I think there is also a segment of the market
Speaker 1: UH that is front umming UH potential again weakness in
Speaker 1: anticipation of unheaged UH flows from Japanese accounts into US debt.
Speaker 1: But UM, so far we don't have clear evidence yet
Speaker 1: that's real flow from Japanese investors are showing up the
Speaker 1: weekly data that we track UM on UM flow on
Speaker 1: Japanese flows UM, it's generally shown Japanese investors as net
Speaker 1: sellers of our inn debts UM. So we have to
Speaker 1: wait and see if that if that flow, that perhaps
Speaker 1: portion of the blow to back up this move and
Speaker 1: agend But so far we're gonna have it. So what
Speaker 1: we've been saying is like we're a bit more skeptical,
Speaker 1: more cautious about chasing the move. We prefer to be
Speaker 1: a buyer on on dips in doll Again, apologies for
Speaker 1: the quality of the line here. Will hope to keep
Speaker 1: connected with Stephen Gallo. But I want to ask you, Stephen,
Speaker 1: about the divergence potentially that we're seeing in central banks,
Speaker 1: the accommodation still the Bank of Japan and the policy
Speaker 1: tightening that we're anticipating from the Federal Reserve. And of
Speaker 1: course we got those comments yesterday from St. Louis President
Speaker 1: James Bullard saying you can't take a seventy five basis
Speaker 1: point hike off the table. Could that be adding to this,
Speaker 1: It's it's possible, it's the divergence theme is certainly something
Speaker 1: that has said a portion of the selling of the
Speaker 1: end of the accumulation of of short position in terms
Speaker 1: of in terms of what are Yeah, Fortunately the quality
Speaker 1: of the line is is just too difficult to discern
Speaker 1: what we're hearing here from Stephen Gallo. But I hope
Speaker 1: we can connect with you soon, Stephen. Great to get
Speaker 1: your insights. Stephen Gallo with us this morning, FX strategist
Speaker 1: at Bank of Montreal Capital Markets and just looking at
Speaker 1: the end against the dollar right now, Karen, it's weaker
Speaker 1: by one point one percent on this session at one
Speaker 1: twenty eight point three six. Some analysts are thinking that
Speaker 1: one thirty against the dollar isn't out of the question.
Speaker 1: All right, Nathan, it is five fifty two on Wall Street.
Speaker 1: Now it's time for our Bloomberg Law Report and we
Speaker 1: get to the illegal stories we're watching this morning. From
Speaker 1: Bloomberg's Jeff Bellinger, the Biden administration is proposing that the
Speaker 1: Medicare Agency pay acute care hospitals three point two percent
Speaker 1: more for in patient services in fiscal twenty three. The
Speaker 1: top Republican tax writers in Congress want the Treasury to
Speaker 1: explain how a news outletcot private tax information on some
Speaker 1: of the wealthiest Americans. The California Attorney General announced a
Speaker 1: settlement for the city of Fontana, which was accused of
Speaker 1: violating the state's Environmental Quality Act. It's going to mean
Speaker 1: more pollution restrictions for warehouse projects of the city. Bloomberg
Speaker 1: Law everything you need, all on one legal research platform,
Speaker 1: including guidance analysis and Bloomberg market Intelligence. Find out more
Speaker 1: at Bloomberg Law dot com. All right, Jeff, thank you.
Speaker 1: Another legal story we're watching. Twitter has made a move
Speaker 1: to thwart elon Must's effort to take over the company.
Speaker 1: It's launched a poison pill defense to move by the
Speaker 1: social media company's board would allow existing shareholders to buy
Speaker 1: more Twitter stock at a discount. Should anyone gain control
Speaker 1: a fifteen percent of a company without the board's approval
Speaker 1: for more Bloomberg June Grosso speaks to a Laine Kapin,
Speaker 1: a partner at Ferrell Fritz. How much of a deterrent
Speaker 1: is a poison pill? In the history of pison pills,
Speaker 1: and it stretches back about forty years, I'm only aware
Speaker 1: of one documented case in which someone deliberately crossed the
Speaker 1: threshold without board approval, so it does serve as a deterrent.
Speaker 1: I will say that poison pills have fallen out of favor.
Speaker 1: It's received enormous criticism. The main criticisms of poison pills
Speaker 1: or that they entrenched the board and management. They could
Speaker 1: prevent an offer at a premium. They could limit a
Speaker 1: stockholder's ability to increase his ownership as a means to
Speaker 1: influence or challenge management. That, by the way, could be
Speaker 1: what must either is planning on doing or what he
Speaker 1: may end up doing. You know, if he can't pull
Speaker 1: off an acquisition of the entire company, he would sort
Speaker 1: of be a player, perhaps not the largest stockholder, but
Speaker 1: currently he's the second largest stockholder, and with that position
Speaker 1: of influence he can put pressure on management. The sense
Speaker 1: is that the greater ownership position he has, the greater
Speaker 1: influence he can exert on management. But if the because
Speaker 1: of this plan, he will not be able to surpass
Speaker 1: that fifteen percent threshold. And the criticism is that, you know,
Speaker 1: sometimes management needs that outside criticism. So even though it's
Speaker 1: dangerous to try to read into Elon Musk's tweets, let's
Speaker 1: try it. Over the weekend he tweeted love Me Tender,
Speaker 1: the Elvis Prasley song, and people are looking at this as, oh,
Speaker 1: is he going to make a tender offer? So tell
Speaker 1: us what maybe the next phase here. It's unclear that
Speaker 1: he'll be able to launch tender offer, which is typically
Speaker 1: the next step when an acquirer is trying to deal
Speaker 1: directly with the board and that offer is rejected, then
Speaker 1: the next step typically is to go straight to the
Speaker 1: shareholders and go hostile in the form of a tender offer.
Speaker 1: After Friday, with the adoption of the poison pill, it's
Speaker 1: unclear that he'd be able to do that. The announcement
Speaker 1: of a tender offer in and of itself would trigger
Speaker 1: the pill. So that's an avenue that has seemingly didn't
Speaker 1: cut off from Elon Musk. Now he could try and
Speaker 1: challenge the pill and court he's not likely to succeed.
Speaker 1: He could also try to negotiate with the board. If
Speaker 1: he has the funding, then the board would be willing
Speaker 1: to negotiate with him, But presumably the Twitter board would
Speaker 1: want a better price, but that would contradict his earlier
Speaker 1: positions that his offer was the best and final offer.
Speaker 1: So it's unclear that a negotiation with the board is
Speaker 1: something that would be productive here. And that's a law
Speaker 1: on tape in a partner at Ferrell Fritz speaking at
Speaker 1: the Bloomberg's Jim Grosso. Catch more of that interview, plus
Speaker 1: analysis of the latest legal news by listening to the
Speaker 1: Bloomberg Law Show at en pm Eastern Time, or subscribing
Speaker 1: to the Bloomberg Law Podcast and Attorneys Confined exceptional legal
Speaker 1: research and business development tools at Bloomberg Law dot com. Nathan,
Speaker 1: all right, Karen, thank you, it's seven on Wall Street.
Speaker 1: We have some breaking news crossing the Bloomberg terminal on
Speaker 1: the heels of the Transportation Security Administration no longer enforcing
Speaker 1: the ASK mandate on public transportation Uber says it's riders
Speaker 1: and drivers in the US will no longer be required
Speaker 1: to wear masks on rides either. That's according to an
Speaker 1: update on Uber's website. It says many people do still
Speaker 1: feel safer wearing masks because of personal or family health situations,
Speaker 1: so Uber says please be respectful of their preferences, and
Speaker 1: if you ever feel uncomfortable, you can always cancel the trip.
Speaker 1: But again, Uber says, as of this morning, the mask
Speaker 1: policy for riders and drivers is no longer in effect
Speaker 1: for the rides sharing service. Right now, SMP futures are
Speaker 1: down twelve points, stuff features down sixty four, nast at
Speaker 1: features down fifty eight points. The tenure treasury is down
Speaker 1: eight thirty seconds, with the yield two point eight eight percent.
Speaker 1: Bloomberg day break continues. This is Bloomberg