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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning. I maybe

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Speaker 1: Morris and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: We begin with the intersection of politics and law. Former

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Speaker 2: President Donald Trump facing a deadline today to post a

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Speaker 2: nine figure bond to appeal is civil fraud judgment in

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Speaker 2: New York. Bloomberg's Nathan Hagar with that story.

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Speaker 3: Trump has been ordered to post one hundred and twenty

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Speaker 3: percent of the four hundred and fifty four million dollar

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Speaker 3: verdict against him for inflating his asset values. That amounts

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Speaker 3: to a bond of about five hundred and forty five

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Speaker 3: million dollars. Last week, the former president told an appeals

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Speaker 3: court that amount is unattainable because the insurance companies would

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Speaker 3: only take cash as collateral, not real estate. Trump says

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Speaker 3: he has almost five hundred million dollars in cash on hand.

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Speaker 3: He says he intends to use a substantial amount of

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Speaker 3: that on his campaign, which is already spending millions on

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Speaker 3: Trump's legal fees. In Washington, I'm Nathan Hager, Bloomberg Radio.

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Speaker 1: All right, Nathan, thank you. While staying with politics, the

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Speaker 1: US Senate passed legislation over the weekend to avoid a

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Speaker 1: partial government shutdown, The Senate cleared the sprawling one point

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Speaker 1: two trillion dollar package on a seventy four to twenty

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Speaker 1: four vote. Senate Majority Leader Chuck Schumer spoke after the vote.

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Speaker 4: It is good for the American people that we have

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Speaker 4: reached the bipartisan agreement to complete the job of funding

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Speaker 4: the government.

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Speaker 1: And it comes after the House passed the bill Friday

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Speaker 1: despite stiff opposition from far right Republicans, but striking that

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Speaker 1: budget deal triggered a new attempt to remove House Speaker

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Speaker 1: Mike Johnson. Former House Speaker Kevin McCarthy, who was removed

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Speaker 1: in October, says he does not see the motion picking

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Speaker 1: up much traction.

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Speaker 5: The one advice I would give to the Conference and

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Speaker 5: to the Speaker is do not be fearful of a

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Speaker 5: motion to vacate. I do not think they could do

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Speaker 5: it again. That was sheerly based on Matt Gates trying

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Speaker 5: to stop an ethics complaint. I don't think the Democrats

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Speaker 5: will go along with it too.

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Speaker 1: And Kevin McCarthy speaking on Face the Nation from CBS,

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Speaker 1: which can be heard Sundays on Bloomberg Radio.

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Speaker 2: Now, let's turn to the latest on the deadly terror

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Speaker 2: attacks in Russia. Russia has charged fore men in connection

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Speaker 2: with the Moscow concert hall attack, where at least one

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Speaker 2: hundred and thirty seven people were killed. Islamic State has

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Speaker 2: taken responsibility for the attack. Putin and other officials have

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Speaker 2: made vague claims of involvement from Ukraine. Tony Halpin leads

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Speaker 2: Bloomberg Government's coverage of Russia.

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Speaker 6: In any normal country, a massacre of this size would

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Speaker 6: immediately raise questions about the competence of the security services,

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Speaker 6: and there be political demands for heads to roll in

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Speaker 6: the leadership. But nothing of that sort is happening in

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Speaker 6: Russia because put In, even though he dismissed warnings of

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Speaker 6: a terrorist attack just a few days before it actually

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Speaker 6: took place, doesn't, of course, want to hold the FSB

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Speaker 6: accountable for these failures, and it serves the Russian state's

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Speaker 6: purpose to try and blame things on Ukraine because they're

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Speaker 6: desperately trying to maintain support for the war, and that's

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Speaker 6: raising questions about what they might be planning next.

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Speaker 2: Bloomberg's Tony Halpin says the violence was the singlest, big,

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Speaker 2: biggest loss of life from a militant assault in Moscow

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Speaker 2: since two thousand and two.

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Speaker 1: Well, there's new developments amy on the war in the

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Speaker 1: Middle East. This morning, Vice President Kamala Harris is warning

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Speaker 1: Israel against a major attack on the Gozen, the city

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Speaker 1: of a Rafa, that's where more than a million Palestinians

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Speaker 1: have sad refuge as the war against Hamas continues. Harris

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Speaker 1: spoke on ABC's This Week.

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Speaker 7: We've been very clear that it would be a mistake

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Speaker 7: to move into Rafa with any type of military operation,

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Speaker 7: a mistake, but would there be consequences if he does

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Speaker 7: move forward. Well, we're going to take it one step

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Speaker 7: at a time, but we've been very clear in terms

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Speaker 7: of our perspective on whether or not that should happen.

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Speaker 1: And Vice President Harris speaking on ABC's This Week, heard

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Speaker 1: Sundays on Bloomberg Radio, Israel says it must send troops

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Speaker 1: into Rafa because it's a last remaining bastion of Hamas.

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Speaker 1: Israeli intelligence estimates there are around five to eight thousand

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Speaker 1: Hamas fighters and group leaders in the city.

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Speaker 2: Turning to markets now, US futures are lower, Treasury yields

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Speaker 2: are higher. As we begin this new trading week. Bond

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Speaker 2: traders are cautiously reloading wagers that burn them. Just a

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Speaker 2: few weeks ago, as the FED and other central banks

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Speaker 2: appears said to start cutting rates as soon as June.

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Speaker 2: We get more from Bloomberg's Mike mackenzie.

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Speaker 8: The bomb market has on seven occasions now positioned itself

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Speaker 8: with the so called Fed pivot trade, and it's been

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Speaker 8: burnt every time because it's just a case of me,

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Speaker 8: you've got to get the.

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Speaker 3: Timing right on this trade.

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Speaker 8: So all signs indicate that central banks, not just the FED,

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Speaker 8: but you know, the Bank of England and the European

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Speaker 8: Central Bank are looking to do a coordinated sort of

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Speaker 8: easying around June, and that really depends on whether the

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Speaker 8: data allows them to do it.

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Speaker 2: Bloomberg's Mike mackenzie says investors will be eyeing a busy

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Speaker 2: week of economic data, including the Fed's preferred inflation gauge

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Speaker 2: that's due out on Friday, which, by the way, happens

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Speaker 2: to be a market holiday.

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Speaker 1: Well, we turn to company news now Amy and more

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Speaker 1: details are coming out from Tim cook visit to China.

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Speaker 1: The Apple CEO is pitching artificial intelligence as an essential

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Speaker 1: tool for businesses committed to reducing carbon footprints. And Cook

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Speaker 1: spoke at a forum yesterday in Beijing.

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Speaker 9: We would not be able to recover the level of

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Speaker 9: material that we do today for recitement without AI. I mean,

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Speaker 9: it's already fundamental in our calculation, and I think it

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Speaker 9: provides an enormous tool in the toolkit for every company

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Speaker 9: that's wishing to be carbon neutral or to lower their

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Speaker 9: emissions by substantial amount.

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Speaker 1: Apple CEO Tim Cook appeared at the annual China Development

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Speaker 1: Forum on Carbon neutrality and climate change. It's part of

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Speaker 1: a week of public displays of Apple's commitment to China.

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Speaker 2: Staying in Asia. It looks like electric carmaker BYD is

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Speaker 2: cutting prices further in China. Bloomberg Daybreak Asia anchor Brian

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Speaker 2: Curtis bringing us to tails now from Hong Kong.

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Speaker 10: Not only has byd unseated Test the world's top selling

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Speaker 10: ev maker, but he has now set its sights on

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Speaker 10: Toyota and Volkswagen. These new cuts are some of the

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Speaker 10: most aggressive we've seen in China's bruising price war. The

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Speaker 10: automaker is discounting almost every electric and hybrid car model itselves.

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Speaker 10: Data from the Portal sixteen eight eighty eight dot Com

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Speaker 10: shows BYD has cut prices on more than one hundred

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Speaker 10: existing model versions. Its most affordable car now sells for

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Speaker 10: less than ten thousand US dollars in Hong Kong. Brian Curtis, Bloomberg.

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Speaker 1: Radio, All right, Brian, thank you well. Jennet Yellen or

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Speaker 1: reportedly visit China next month, Politico is reporting the Treasury

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Speaker 1: secretary we'll meet with the country senior leaders. Yellen previously

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Speaker 1: travel to Beijing in July. And it's time now for

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Speaker 1: a look at some of the other stories making news

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Speaker 1: in New York and around the world. And for that

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Speaker 1: we're joined by Bloomberg's Michael Barr. Michael, good Morning.

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Speaker 11: Good morning, Karon, New Jersey First Lady Tammy Snyder Murphy

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Speaker 11: has made a big announcement in her race for the Senate.

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Speaker 1: Any busy, invigorating, and yes, challenging months, I am suspending

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Speaker 1: my Senate campaign today.

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Speaker 11: Bloomberg's Ed Baxter as the story.

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Speaker 12: The race is for the seat of Democrat Bob Menendez,

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Speaker 12: who's pleated not guilty to federal bribery charges. He said

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Speaker 12: he will not run for the Democratic nomination, but did

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Speaker 12: leave open an independent candidacy. Murphy says she's been genuine

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Speaker 12: and factual throughout, but that it's become clear that the

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Speaker 12: campaign would become divisive and negative. She says she's not

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Speaker 12: willing to do that. Both she and New Jersey Governor

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Speaker 12: Phil Murphy previously worked at Goldman Sachs Ad Baxter Bloomberg Radio.

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Speaker 11: New York Mayor Eric Adams canceled a plan trip to

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Speaker 11: the US Mexico border over the weekend. According to City Hall,

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Speaker 11: there were safety concerns in one of the Mexican cities

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Speaker 11: that he planned to visit. As the reason for the change.

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Speaker 11: Adams had been invited by executive director of the faith

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Speaker 11: based organization Catholic Charities of the Rio Grande Valley to

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Speaker 11: meet with her and her team at the southern border.

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Speaker 11: The Supreme Court is set to hear oral arguments tomorrow

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Speaker 11: in the case centered reducing access to a widely used

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Speaker 11: abortion drug. Mifa pristone is usually part of a two

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Speaker 11: pill regimen for medication abortion. The question is whether mifa

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Speaker 11: pristone can continue to be prescribed and mailed to individuals

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Speaker 11: in the same manner as other medications. In legal briefs

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Speaker 11: filed with the court, medical professionals call it among the

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Speaker 11: most safest medications ever approved by the Food and Drug Administration,

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Speaker 11: while the Christian Conservative group suing the agency says the

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Speaker 11: drug has led to tens of thousands of emergency complications.

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Speaker 11: Liola Law School professor Jessica.

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Speaker 1: Levinson in the end, I think the Court will be

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Speaker 1: reticent to really undermine the power of the FDA because

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Speaker 1: they know this isn't just about MIFA pristone.

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Speaker 3: This is also about other drugs.

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Speaker 11: Professor Levinson spoke to CBS. Next month, the High Court

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Speaker 11: weill way allowing state bans on abortion even when an

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Speaker 11: emergency room doctor believes ending of pregnancy would preserve the

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Speaker 11: mother's health. Heavy rain and quarter size hail fell in

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Speaker 11: southern California, with wind gusts approaching sixty miles an hour

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Speaker 11: in the Mountain area over the weekend. In the northeast,

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Speaker 11: police reported hundreds of traffic accidents as drivers grappled with

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Speaker 11: icy roads. People in New England spent Sunday digging out

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Speaker 11: after a major weekend storm that dumped more than two

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Speaker 11: feet of snow in some areas. The International Space Station

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Speaker 11: is due to welcome to cosmonauts and a US astronaut

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Speaker 11: this morning. They begin a six months name global news

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Speaker 11: twenty four hours a day and whenever you want it

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Speaker 11: with the Bloomberg News. Now, I'm Michael Barr, and this

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Speaker 11: is Bloomberg Karen.

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Speaker 1: All right, Michael Barr, thank you. It's time now for

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Speaker 1: the Bloomberg Spores Update with John stash Hour.

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Speaker 4: John, good morning, Good morning, Karen's really some first round

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Speaker 4: surprises in the NCAA tournament, but things win much more

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Speaker 4: according to Foreman, Round two and the tourney heads of

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Speaker 4: the sweet sixteen with all the one seeds, all the

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Speaker 4: two still alive. Defennanch champion Yukon very much alive. Huskies

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Speaker 4: keep winning easily. At Barclay's. They led Northwestern forty to

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Speaker 4: eighteen at halftime, went on to win seventy five fifty eight.

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Speaker 4: Yukon's now won eight consecutive NCAA games, all by thirteen

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Speaker 4: and more points. The coach is Dan Hurley, that.

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Speaker 13: We're bulletproof, you know again, elite offense, elite defense, you know.

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Speaker 13: Didn't love the offensive rebounding today and didn't love the

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Speaker 13: second half defensive rebounding, you know, but again, twenty assists,

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Speaker 13: seven turnovers. One player had fourteen fourteen and eight point.

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Speaker 13: Court had twenty and ten. You know it's tough to

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Speaker 13: lose when you have that level of quality.

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Speaker 4: Yukon now heads the Boston to play a rematch of

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Speaker 4: last year's title game with San Diego State. The last

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Speaker 4: nine one easily over Yale. Perdue won by thirty nine

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Speaker 4: over Utah State. Nothing easy about Houston's win. Texas A

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Speaker 4: and M down twelve with two minutes left in regulation,

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Speaker 4: hit a three pointer at the buzzer to force overtime.

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Speaker 4: The Cougars, top seeds in the South, pulled out to

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Speaker 4: win one hundred to ninety five. NBA Miami be Cleveland

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Speaker 4: by thirty seven. At the next FET, the lowly Piston

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Speaker 4: Sun at the guard Nick's will move into a tie

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Speaker 4: for third with the Cats, Devils, and Islanders, both trying

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Speaker 4: to work their way into the playoffs. They met at Ubs.

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Speaker 4: Devil's won four nothing, the Capitals won three nothing. Some

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Speaker 4: of the Yankees still in Florida, like Marcus Stroman. He

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Speaker 4: pitched six scoreless innings. There's a game today with the Mets.

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Speaker 4: The others are in Mexico a four to three losses.

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Speaker 4: Forty one year old x Yankee Robinson Cano had three

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Speaker 4: hits with a home run of the game with that

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Speaker 4: Mexican team today, and then everyone goes to Houston for

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Speaker 4: Thursday's opener.

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Speaker 11: The Dodgers are back from Korea.

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Speaker 4: Today's show, Hey Otani meets the media to answer questions

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Speaker 4: about his former interpreter accused of stealing millions from him.

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Speaker 4: Georgia's starting running back Trevor at In arrested for dui.

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Speaker 4: John Stashewer Bloomberg Sports.

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Speaker 14: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 14: and around the world on Bloomberg dot Com and the

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Speaker 14: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 2: Today is the deadline for Donald Trump. He has to

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Speaker 2: post bond to cover a four hundred and fifty four

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Speaker 2: million dollars civil fraud verdict or risk having New York

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Speaker 2: State start the process of seizing his assets. We begin

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Speaker 2: with that story when we welcome in Terry Haynes, the

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Speaker 2: founder of Pangaea Policy. Terry tell us what's going to

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Speaker 2: happen today with Donald Trump?

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Speaker 15: Sixty four dollars? Question, isn't it Amy? Good morning? You know,

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Speaker 15: I bet that what happens is a little bit you know.

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Speaker 15: James has two paths here. Basically, one is to start

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Speaker 15: seizing assets. The other one is to wait for appeal.

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Speaker 15: My instinct is she does a little bit of both. Frankly,

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Speaker 15: that she takes something as a as kind of a hostage.

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Speaker 15: But I don't know whether it's a big splash place

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Speaker 15: like Trump Tower itself or smaller maybe a hotel, but

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Speaker 15: you know, takes something and meanwhile awaits the outcome of

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Speaker 15: the appeal. The problem for James is that the is

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Speaker 15: that this very process where you've got to post a

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Speaker 15: bond of one hundred percent or more, uh, just to

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Speaker 15: appeal is is draconian. And if this gets into certainly

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Speaker 15: into a federal court, I'd bet I'd bet it gets

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Speaker 15: struck down. So she actually has to proceed a lot

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Speaker 15: more carefully than her rhetoric indicates.

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Speaker 2: How does this impact has been for the presidency?

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Speaker 15: You know, I think, as you all say on this channel, uh,

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Speaker 15: I think that I think that this is largely priced in.

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Speaker 15: You know wrote the uh. You know, those who are

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Speaker 15: outraged will be outraged, those who aren't, and you know,

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Speaker 15: wishing Meal will be And it doesn't convince anybody else.

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Speaker 15: They know it's uh uh, they know it's a bad situation.

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Speaker 15: But are they going to be swayed one way or

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Speaker 15: the other. Uh. I doubt it, particularly compared to what

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Speaker 15: the hot button issues are and everything I get from

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Speaker 15: talking to people who are in the political field. I mean, actually,

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Speaker 15: you know, talking to voters, you know on the ground, UH,

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Speaker 15: is that the economy and border security remain by far

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Speaker 15: the top two issues. So I think this is spice

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Speaker 15: one way or the other.

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Speaker 2: Let's shift gears end. At Capitol Hill, the House and

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Speaker 2: Senate passed that spending bill. President Biden signed it into

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Speaker 2: law early Saturday. What does this bill do? I mean,

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Speaker 2: when do we see another shut down countdown?

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Speaker 15: Well, you won't. You feel good or bad about this,

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Speaker 15: It's up to you. But if you won't until basically

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Speaker 15: the first of October, spending now is done until the

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Speaker 15: end of the fiscal year, which comes the first of October.

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Speaker 15: I think largely what you'll see pre and post election,

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Speaker 15: so roughly until the end of the calendar year is

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Speaker 15: Congress kicking the can and essentially saying, look, you know,

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Speaker 15: the outcome of the election is good to determine what

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Speaker 15: spending is. But markets should make no mistake. You know,

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Speaker 15: markets have largely priced the sort of the performative stuff

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Speaker 15: in as well anyway. But markets should make no mistake,

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Speaker 15: is not going to be any any major change in

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Speaker 15: spending no matter who wins the election, and the debt

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Speaker 15: and defsit problems that exists will continue to exist, so

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Speaker 15: you know, net, it's not going to matter very much.

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Speaker 2: We got about a minute left here. Some far right

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Speaker 2: Republicans not at all happy at House Speaker Mike Johnson

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Speaker 2: even allowed this to come up for a vote at all,

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Speaker 2: So what does his future look like?

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Speaker 15: You know? I bet he, I bet he sticks. The

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Speaker 15: Congresswoman Green's motion is out there but is not triggered,

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Speaker 15: so it's She expresses disappointment with what Johnson did on spending.

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Speaker 15: But you know, this is also the kind of performative

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Speaker 15: cowardice that makes Washington what it is today. She expresses,

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Speaker 15: the you know, tries to pull the trigger after the

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Speaker 15: deed is done, so that tells you everything you need

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Speaker 15: to know. It also is designed to perform some kind

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Speaker 15: of a block on Ukraine voting, but I think that

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Speaker 15: it probably gives centrists in both parties, who are already

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Speaker 15: trying to rally here more gas to actually try to

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Speaker 15: get something on Ukraine done. So I'd watch that space

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Speaker 15: I've said that, I think it makes so a little

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Speaker 15: more likely that happens.

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Speaker 2: on the stories making news from Wall Street to Washington

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Speaker 3: And I'm Karen Moscow.

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