1 00:00:03,120 --> 00:00:06,640 Speaker 1: Live from the Bloomberg Interactor Berger Studios is Bloomberg day 2 00:00:06,640 --> 00:00:10,360 Speaker 1: Break for Tuesday, March twenty nine two. Coming up this hour, 3 00:00:10,600 --> 00:00:14,600 Speaker 1: peace talks between Russia and Ukraine restart today. President Biden 4 00:00:14,640 --> 00:00:18,480 Speaker 1: clarifies his her marks on Vladimir Plutin, billionaires in private equity, 5 00:00:18,560 --> 00:00:21,360 Speaker 1: Gurdford tax nikes from the White House, and bankers in 6 00:00:21,480 --> 00:00:25,840 Speaker 1: Hong Kong's scope raises and promotions. New York Mayor Eric 7 00:00:25,880 --> 00:00:28,960 Speaker 1: Adams is slamming Florida's new Don't Say Gay bill, Plus 8 00:00:29,040 --> 00:00:33,040 Speaker 1: the January sixth penal recommends holding two Trump aids in contempt. 9 00:00:33,479 --> 00:00:37,160 Speaker 1: Michael Barr More ahead, I'm John stashwon sports. The Knicks 10 00:00:37,159 --> 00:00:39,680 Speaker 1: beat the Bulls at the Garden. The Yukon women won 11 00:00:39,760 --> 00:00:44,320 Speaker 1: in double overtime to advance to the final board. That's 12 00:00:44,320 --> 00:00:48,640 Speaker 1: all straight ahead on Bloomberg day Break on Bloomberg Eliving Trio, 13 00:00:48,760 --> 00:00:54,080 Speaker 1: New York, Bloomberg Washington, d C, Bloomberg one O six one, Boston, 14 00:00:54,240 --> 00:00:58,760 Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen 15 00:00:59,120 --> 00:01:01,840 Speaker 1: and around the world. Old on Bloomberg Radio dot Com 16 00:01:01,960 --> 00:01:08,440 Speaker 1: and via the Bloomberg Business Set. Good morning, I'm Nathan 17 00:01:08,520 --> 00:01:11,960 Speaker 1: Hagar and I'm Karen. Moscow and US futures are higher 18 00:01:12,000 --> 00:01:14,039 Speaker 1: this morning. We're coming up to five oh one on 19 00:01:14,080 --> 00:01:16,360 Speaker 1: Wall Street, and we checked the markets every fifteen minutes 20 00:01:16,360 --> 00:01:19,800 Speaker 1: throughout the trading day. On Bloomberg, SNP Future is up 21 00:01:19,840 --> 00:01:23,200 Speaker 1: thirteen points down, futures up ninety four NASDAC Future is 22 00:01:23,280 --> 00:01:26,360 Speaker 1: up thirty two. The decks in Germany's at one point 23 00:01:26,400 --> 00:01:30,119 Speaker 1: two percent. Ten year treasury down eleven thirty seconds, yield 24 00:01:30,160 --> 00:01:32,600 Speaker 1: two point five percent. The yield on the two year 25 00:01:32,680 --> 00:01:35,880 Speaker 1: two point four one percent. Nim X screut oil is 26 00:01:35,959 --> 00:01:38,560 Speaker 1: up one point one percent, up a dollar eleven and 27 00:01:38,640 --> 00:01:41,280 Speaker 1: a hundred seven dollars four cents of barrel, and the 28 00:01:41,400 --> 00:01:45,040 Speaker 1: euro one point oh nine eight one against the dollar. Nathan, Karen, 29 00:01:45,040 --> 00:01:46,840 Speaker 1: we begin this morning with the latest on the war 30 00:01:46,959 --> 00:01:49,800 Speaker 1: in Eastern Europe. Ukraine is looking for a cease fire 31 00:01:49,840 --> 00:01:53,200 Speaker 1: agreement in talks with Russia negotiators. Today we get the 32 00:01:53,280 --> 00:01:57,200 Speaker 1: very latest from Bloomberg International Affairs reporter Mark Champion is 33 00:01:57,320 --> 00:02:01,600 Speaker 1: exchanged for the ceasefire is less clear and the sequencing 34 00:02:01,640 --> 00:02:03,760 Speaker 1: would be quite difficult because at the moment what the 35 00:02:03,840 --> 00:02:07,520 Speaker 1: Ukrainians are talking about is able to agree to neutrality. 36 00:02:08,000 --> 00:02:11,720 Speaker 1: In exchange from neutrality, there would be security guarantees from 37 00:02:12,000 --> 00:02:16,320 Speaker 1: other Western countries, similar to NATO's Article five. You know, 38 00:02:16,360 --> 00:02:18,519 Speaker 1: all that would have to be agreed in a referendum 39 00:02:18,560 --> 00:02:21,399 Speaker 1: that would take a year. So how that all gets 40 00:02:21,440 --> 00:02:25,000 Speaker 1: sequences extremely difficult to understand. What would be the borders 41 00:02:25,040 --> 00:02:28,200 Speaker 1: that were being guaranteed by these guaranteurs in the West 42 00:02:28,320 --> 00:02:31,600 Speaker 1: is difficult to understand at that point. Bloomberg's Mark Champion 43 00:02:31,639 --> 00:02:35,120 Speaker 1: reports talks are underway in Turkey. President Urdiwan is telling 44 00:02:35,120 --> 00:02:38,640 Speaker 1: the Ukrainian and Russian delegations he expects quote good news 45 00:02:38,880 --> 00:02:42,519 Speaker 1: from the meeting. Meantime, Nathan Russia appears to be making 46 00:02:42,560 --> 00:02:45,040 Speaker 1: good on it's a debt. Moscow says it made it 47 00:02:45,120 --> 00:02:47,760 Speaker 1: more than a hundred million dollar interest payment on its 48 00:02:47,800 --> 00:02:51,640 Speaker 1: foreign bonds. Despite financial isolation in the face of warnings 49 00:02:51,680 --> 00:02:54,880 Speaker 1: from credit rating agencies, the government has so far sidestepped 50 00:02:54,880 --> 00:02:56,799 Speaker 1: to default. Back Here in the U s care and 51 00:02:56,840 --> 00:03:00,640 Speaker 1: President Biden is clarifying his remarks on Vladimir Putin. He 52 00:03:00,680 --> 00:03:03,760 Speaker 1: says the US is not seeking to remove the Russian president, 53 00:03:04,000 --> 00:03:07,200 Speaker 1: but he does have the right to express concern. Bloomberg's 54 00:03:07,200 --> 00:03:10,359 Speaker 1: At Baxter has the story. The President says he's not 55 00:03:10,480 --> 00:03:13,120 Speaker 1: planning regime change in Russia, but has the right to 56 00:03:13,200 --> 00:03:16,520 Speaker 1: express his opinion. I was expressing my outrage as the 57 00:03:16,600 --> 00:03:23,359 Speaker 1: behavior this man. It's outrageous. It's outrageous, and it's more 58 00:03:23,440 --> 00:03:26,720 Speaker 1: an aspiration, and he shouldn't be in power. There's no 59 00:03:26,840 --> 00:03:29,400 Speaker 1: I mean, people like this shouldn't be ruling countries. But 60 00:03:29,440 --> 00:03:31,919 Speaker 1: they do. The fact they do, but does mean I 61 00:03:32,000 --> 00:03:34,800 Speaker 1: can't express my outrage about it. And NATO is having 62 00:03:34,880 --> 00:03:37,880 Speaker 1: its debate about talking directly with Putins some countries saying 63 00:03:37,880 --> 00:03:41,080 Speaker 1: before any talks, there has to be a ceasefire in Ukraine. 64 00:03:41,400 --> 00:03:44,520 Speaker 1: In San Francisco, I'm at Baxter Bloomberg Daybreak and thank 65 00:03:44,560 --> 00:03:47,320 Speaker 1: you now. An update on President Biden's agenda back home. 66 00:03:47,440 --> 00:03:49,880 Speaker 1: The White House is doubling down on efforts to overhaul 67 00:03:49,920 --> 00:03:52,280 Speaker 1: the tax code. It's looking to get more money from 68 00:03:52,280 --> 00:03:56,360 Speaker 1: the wealthiest households and largest companies. Amy Morris has details 69 00:03:56,360 --> 00:04:00,360 Speaker 1: from our Bloomberg newsroom in Washington. President by and says 70 00:04:00,400 --> 00:04:02,640 Speaker 1: his plan is designed to chip away at the deficit 71 00:04:02,720 --> 00:04:06,680 Speaker 1: run up by the Trump administration. Track cut the deficit 72 00:04:06,760 --> 00:04:11,200 Speaker 1: by more than one trillion, three hundred billion dollars that 73 00:04:11,200 --> 00:04:15,000 Speaker 1: would be the largest one year reduction and deficit in history. 74 00:04:15,160 --> 00:04:17,080 Speaker 1: Part of that would be funded through a minimum tax 75 00:04:17,120 --> 00:04:20,880 Speaker 1: on mega millionaires and billionaires, including on their unrealized gains, 76 00:04:20,960 --> 00:04:23,880 Speaker 1: raising an estimated three hundred sixty billion dollars over a 77 00:04:23,960 --> 00:04:28,039 Speaker 1: decade from roughly the wealthiest twenty thousand households in the country. 78 00:04:28,360 --> 00:04:32,120 Speaker 1: But it faces opposition in Congress, and not just from Republicans. 79 00:04:32,120 --> 00:04:35,000 Speaker 1: The billionaire tax is also a key fault line between 80 00:04:35,000 --> 00:04:38,839 Speaker 1: moderate Democrats and progressives. White House advisors are now talking 81 00:04:38,880 --> 00:04:41,719 Speaker 1: with wallmakers about how to win support for the tax 82 00:04:41,760 --> 00:04:46,040 Speaker 1: proposal in Washington. I'm anymore as Bloomberg Daybreak, thanks Amy. Meantime, 83 00:04:46,080 --> 00:04:48,520 Speaker 1: the Senate has passed a measure to help US tech company. 84 00:04:48,600 --> 00:04:51,120 Speaker 1: Senators passed their version of a longstalled bill to help 85 00:04:51,160 --> 00:04:54,800 Speaker 1: the U S semiconductor industry and boost competitiveness with China. 86 00:04:54,920 --> 00:04:57,760 Speaker 1: That sets the stage for negotiations with the House, which 87 00:04:57,760 --> 00:05:00,919 Speaker 1: passed its own version. The measure includes fifty billion dollars 88 00:05:01,080 --> 00:05:03,960 Speaker 1: to boost chip manufacturing. All right, let's turn to the 89 00:05:04,000 --> 00:05:06,960 Speaker 1: markets now. Nathan and a few companies making headlines this 90 00:05:07,000 --> 00:05:10,000 Speaker 1: morning Bloomberg. John Tucker joins US Live with the latest. 91 00:05:10,040 --> 00:05:12,640 Speaker 1: Good morning, John, Good morning, Carol. Let's start out with FedEx. 92 00:05:12,680 --> 00:05:17,479 Speaker 1: The packet shipping company named Rod Subramanian as its new CEO. 93 00:05:17,600 --> 00:05:20,080 Speaker 1: He takes the reins from seventy seven year old founder 94 00:05:20,120 --> 00:05:23,640 Speaker 1: Fred Smith, who pioneered express delivery almost fifty years ago. 95 00:05:24,240 --> 00:05:26,159 Speaker 1: Smith had been in the midst of the campaign to 96 00:05:26,200 --> 00:05:30,360 Speaker 1: overhaul the company to stem declining profit margins. Meantime, Amazon 97 00:05:30,400 --> 00:05:33,000 Speaker 1: has become the first mega cap tech dot to erase 98 00:05:33,120 --> 00:05:35,719 Speaker 1: losses for the year. Shares are now at one point 99 00:05:35,800 --> 00:05:38,160 Speaker 1: four percent of the year, after having dropped more than 100 00:05:38,320 --> 00:05:41,400 Speaker 1: eighteen percent earlier this month. And also of note this 101 00:05:41,440 --> 00:05:45,279 Speaker 1: morning meme favorite game Stop rose for a tenth consecutive 102 00:05:45,279 --> 00:05:48,599 Speaker 1: session yesterday. That gives the stock its longest winning streaks 103 00:05:48,600 --> 00:05:54,560 Speaker 1: since April of It's up a staggering one or over 104 00:05:54,600 --> 00:05:57,440 Speaker 1: the past two weeks. Live in New York, I'm John Tucker, 105 00:05:57,440 --> 00:05:59,960 Speaker 1: Bloomberg Daybreak and John in London. This morning. Shares a 106 00:06:00,120 --> 00:06:03,680 Speaker 1: Barclays are down three and two thirds percent after a 107 00:06:03,720 --> 00:06:06,880 Speaker 1: shareholders sold about one point two billion dollars of stock. 108 00:06:07,120 --> 00:06:09,839 Speaker 1: The sale came a day after Barclays revealed a costly 109 00:06:09,920 --> 00:06:12,600 Speaker 1: blunder and how it sold billions of dollars in securities. 110 00:06:12,760 --> 00:06:16,159 Speaker 1: The identity of the Barclay seller was not disclosed. Meantime, 111 00:06:16,160 --> 00:06:19,040 Speaker 1: in Hong Kong, Nathan, the outlook for bangers is looking up. 112 00:06:19,120 --> 00:06:22,039 Speaker 1: The city has seen an exodus of finance staff, but 113 00:06:22,160 --> 00:06:25,280 Speaker 1: those that state are getting rewarded. Blumbergs you need a 114 00:06:25,320 --> 00:06:27,600 Speaker 1: young joints ups live with the details. Good morning Renny Down, 115 00:06:27,640 --> 00:06:30,280 Speaker 1: Good morning Karen. For tech savvy workers willing to live 116 00:06:30,320 --> 00:06:33,200 Speaker 1: in a city largely isolated from the rest of the world, 117 00:06:33,440 --> 00:06:37,600 Speaker 1: opportunities like big promotions and big pay increases are plentiful, 118 00:06:37,880 --> 00:06:41,400 Speaker 1: at least in the short term. Typically, finance workers heading 119 00:06:41,440 --> 00:06:43,880 Speaker 1: to a different company in Hong Kong would get about 120 00:06:43,880 --> 00:06:47,200 Speaker 1: a fifteen percent pay hike, but executive search firm E 121 00:06:47,400 --> 00:06:51,800 Speaker 1: s d I says they're seeing twenty to thirty increases. Meantime, 122 00:06:51,880 --> 00:06:54,520 Speaker 1: government data show the number of new visas issued to 123 00:06:54,680 --> 00:06:58,440 Speaker 1: foreign financial service workers in Hong Kong fell last year, 124 00:06:58,720 --> 00:07:02,320 Speaker 1: down almost fifty per sent from eighteen and that was 125 00:07:02,400 --> 00:07:07,120 Speaker 1: before the Omicron variant prompted more lockdowns. Live in New York, 126 00:07:07,160 --> 00:07:09,360 Speaker 1: I'm gonna need a young Bloomberg day break, Okay, we 127 00:07:09,440 --> 00:07:12,320 Speaker 1: need to thanks SMP futures up fourteen points staff features 128 00:07:12,360 --> 00:07:15,200 Speaker 1: up a hundred eleven, nastack futures up thirty five points, 129 00:07:15,240 --> 00:07:18,200 Speaker 1: straight ahead, your latest local headlines, and a check of sports. 130 00:07:18,200 --> 00:07:24,440 Speaker 1: This is Bloomberg. That's up five oh seven on Wall 131 00:07:24,440 --> 00:07:26,840 Speaker 1: Street where twenty five degrees in Central Park got start 132 00:07:26,960 --> 00:07:29,520 Speaker 1: so far on the bridges and tunnels. Will check traffic 133 00:07:29,560 --> 00:07:31,920 Speaker 1: in just a few minutes. First, Michael Bars here with 134 00:07:31,960 --> 00:07:33,920 Speaker 1: what else is going on in New York and around 135 00:07:33,960 --> 00:07:36,360 Speaker 1: the world. Good morning, Michael, Good morning Nathan. New York 136 00:07:36,400 --> 00:07:40,600 Speaker 1: City Mayor Eric Adams is denouncing Florida's controversial Don't Say 137 00:07:40,720 --> 00:07:43,680 Speaker 1: Gay bill. In signing the bill, Florida Governor Rond De 138 00:07:43,760 --> 00:07:48,400 Speaker 1: Santis says the legislation forbids instruction on sensual orientation and 139 00:07:48,480 --> 00:07:52,880 Speaker 1: gender identity in kindergarten through third grade in Florida. We 140 00:07:52,960 --> 00:07:55,840 Speaker 1: not only know that parents have a right to be involved, 141 00:07:56,600 --> 00:07:59,240 Speaker 1: we insist that parents have a right to be involved. 142 00:08:01,040 --> 00:08:05,960 Speaker 1: Joe Saunders with the LGBTQ advocacy group Equality Florida said 143 00:08:05,960 --> 00:08:09,160 Speaker 1: the Santis has set the state back decades. Governor De 144 00:08:09,200 --> 00:08:12,440 Speaker 1: Santis has damaged our state's reputation as a welcoming and 145 00:08:12,480 --> 00:08:14,960 Speaker 1: inclusive place for all families. He has made us a 146 00:08:15,040 --> 00:08:18,920 Speaker 1: laughing stock and a target of national derision. Worst he 147 00:08:19,000 --> 00:08:23,520 Speaker 1: has made schools less safe for children. New York Mayor 148 00:08:23,560 --> 00:08:26,640 Speaker 1: Adams called the bill hateful and harmful, saying on social 149 00:08:26,640 --> 00:08:29,240 Speaker 1: media to the families living in fear of this state 150 00:08:29,320 --> 00:08:33,240 Speaker 1: sponsored discrimination, You're welcome in New York City. Our arms 151 00:08:33,320 --> 00:08:37,079 Speaker 1: and hearts are wine open. The House Committee voted unanimously 152 00:08:37,200 --> 00:08:41,080 Speaker 1: last night to recommend contempt citations against two of former 153 00:08:41,120 --> 00:08:44,800 Speaker 1: President Trump's White House advisors for it defying subpoenas to 154 00:08:44,880 --> 00:08:48,400 Speaker 1: testify into last year's riot at the US Capitol. The 155 00:08:48,440 --> 00:08:53,200 Speaker 1: panel name former aides Nan Scovino and Peter Navarro. Congresswoman 156 00:08:53,360 --> 00:08:56,680 Speaker 1: Liz Cheney, the top Republican on the Selective Committee, said 157 00:08:56,720 --> 00:08:59,960 Speaker 1: anyone who participated in the January six efford should be 158 00:09:00,040 --> 00:09:04,720 Speaker 1: held accountable. As a federal judge concluded today, the illegality 159 00:09:04,760 --> 00:09:09,319 Speaker 1: of President Trump's plan for January six was quote obvious. 160 00:09:10,080 --> 00:09:13,480 Speaker 1: Cheney was referring to U. S District Judge David Carter, writing, 161 00:09:13,840 --> 00:09:17,240 Speaker 1: the court finds it more likely than not that President 162 00:09:17,240 --> 00:09:20,680 Speaker 1: Trump corruptly attempted to obstruct the Joint Session of Congress 163 00:09:20,920 --> 00:09:25,200 Speaker 1: on January one. The founder of Sittledale is giving forty 164 00:09:25,240 --> 00:09:28,840 Speaker 1: million dollars to New York City's American Museum of Natural History. 165 00:09:29,120 --> 00:09:32,040 Speaker 1: The donation is part of the three forty million dollars 166 00:09:32,160 --> 00:09:35,520 Speaker 1: raised so far for the Richard Gilder Center for Science, 167 00:09:35,640 --> 00:09:38,800 Speaker 1: Education and Innovation, which is set to open sometime late 168 00:09:38,960 --> 00:09:44,360 Speaker 1: between two and early three. Actor Will Smith apologized to 169 00:09:44,400 --> 00:09:47,319 Speaker 1: Chris Rock after he slapped the comedian at the Oscar 170 00:09:47,360 --> 00:09:50,680 Speaker 1: Sunday night. Meanwhile, the Academy of Motion Pictures, Arts and 171 00:09:50,720 --> 00:09:54,920 Speaker 1: Sciences opened a formal review of Smith's behavior. Global News 172 00:09:54,920 --> 00:09:58,160 Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake, 173 00:09:58,400 --> 00:10:01,840 Speaker 1: powered by more than having under journalist analysts in more 174 00:10:01,840 --> 00:10:04,520 Speaker 1: than a hundred twenty countries. On Michael Bard, This is Bloomberg, 175 00:10:04,600 --> 00:10:11,280 Speaker 1: Nathan Michael, thank you. Coming up to five ten on 176 00:10:11,320 --> 00:10:13,839 Speaker 1: Wall Street time for the Bloomberg Sports Update. Good morning, 177 00:10:13,920 --> 00:10:15,880 Speaker 1: John Sesshion, Good morning eight. And it's hard to make 178 00:10:15,880 --> 00:10:18,480 Speaker 1: the NBA playoffs when you win only one game in 179 00:10:18,559 --> 00:10:20,640 Speaker 1: the month of February like the next day, and the 180 00:10:20,679 --> 00:10:22,959 Speaker 1: Nicks are almost certainly not going to make it four 181 00:10:23,000 --> 00:10:24,520 Speaker 1: and a half games behind, but they had one four 182 00:10:24,559 --> 00:10:26,080 Speaker 1: in a row for the first time all year. They 183 00:10:26,080 --> 00:10:28,400 Speaker 1: came from twelve down beat Chicago with the Garden one 184 00:10:28,400 --> 00:10:30,880 Speaker 1: oh nine, one oh four, R. J. Barrett with twenty 185 00:10:30,960 --> 00:10:33,800 Speaker 1: eight points, Alley first twenty seven to margin Rosenport in 186 00:10:33,920 --> 00:10:36,360 Speaker 1: thirty seven for the Bulls. Nets Home tonight for Detroit 187 00:10:36,720 --> 00:10:39,280 Speaker 1: Rangers are in Pittsburgh n C Double A Women's tournament 188 00:10:39,280 --> 00:10:44,320 Speaker 1: double overtime in Bridgeport, Yukon b n C State seven. 189 00:10:44,360 --> 00:10:47,560 Speaker 1: Reactions from the coach Gino Oriema and the star player 190 00:10:47,640 --> 00:10:51,959 Speaker 1: Paige Beckers. This is one of the best games I've 191 00:10:51,960 --> 00:10:56,000 Speaker 1: ever been a part of UM since I've been in 192 00:10:56,080 --> 00:11:00,320 Speaker 1: the time. The regular season, postseason, doesn't really matter. It 193 00:11:00,400 --> 00:11:02,960 Speaker 1: was just a lot of fun and playing two very 194 00:11:02,960 --> 00:11:06,600 Speaker 1: competitive teams. My coach said, just playing for our lives 195 00:11:06,600 --> 00:11:09,600 Speaker 1: at that point, and we found a way to win 196 00:11:09,760 --> 00:11:13,640 Speaker 1: and stuck together and we stay composed in Yeah, I'm 197 00:11:13,640 --> 00:11:15,680 Speaker 1: just it was really exciting team for sure. So you 198 00:11:15,720 --> 00:11:17,200 Speaker 1: kind of go to the Women's Final four for the 199 00:11:17,240 --> 00:11:19,600 Speaker 1: twenty second time under Ori e m they've don their 200 00:11:19,640 --> 00:11:22,800 Speaker 1: fourteen years in a row. The jetson Son Freegan defensive 201 00:11:22,840 --> 00:11:25,680 Speaker 1: lineman Salomon Thomas, once the third overall pick of the draft, 202 00:11:25,720 --> 00:11:28,360 Speaker 1: he played for Jets coach Robert Sala when Sale coach 203 00:11:28,400 --> 00:11:31,000 Speaker 1: the forty Niners Defense Giants. G M Joe Shane says 204 00:11:31,000 --> 00:11:33,319 Speaker 1: he has not initiated any trade. Tops were going to 205 00:11:33,360 --> 00:11:36,679 Speaker 1: st Kuon Barkley. NFL owners are meaning they're considering a 206 00:11:36,800 --> 00:11:38,959 Speaker 1: change in overtime rules where both teams would be short 207 00:11:39,000 --> 00:11:42,040 Speaker 1: of a possession. Baseball forty two year old Albert Poole 208 00:11:42,080 --> 00:11:44,200 Speaker 1: says this will be his final season. He's spending it 209 00:11:44,240 --> 00:11:46,640 Speaker 1: with the team he used to start for. Tho St. 210 00:11:46,679 --> 00:11:50,720 Speaker 1: Louis Cardios, John Stashward, Bloomberg SPOSI, thanks John SMP futures 211 00:11:50,760 --> 00:11:53,640 Speaker 1: up twenty points, Staff futures up Huddy six, n SECT 212 00:11:53,679 --> 00:11:56,480 Speaker 1: futures hired by fifty nine points ten. Your treasury yield 213 00:11:56,480 --> 00:11:58,280 Speaker 1: two point five one per cent the yield on the 214 00:11:58,320 --> 00:12:01,840 Speaker 1: two year two point four two spread of eight basis points. 215 00:12:02,160 --> 00:12:09,439 Speaker 1: You're listening to Bloomberg day Break Bloomberg eleven three oh Weather, sunny, breezy, 216 00:12:09,520 --> 00:12:12,400 Speaker 1: high only near forty today, chance for midday rain or 217 00:12:12,520 --> 00:12:15,480 Speaker 1: snow tomorrow. Otherwise scattered afternoon showers with highs in the 218 00:12:15,480 --> 00:12:18,360 Speaker 1: mid forties. Will be near seventy by Thursday. Right now 219 00:12:18,240 --> 00:12:24,360 Speaker 1: twenty five in Central Park Markets, headlines and breaking news 220 00:12:24,480 --> 00:12:27,079 Speaker 1: twenty four hours a day at Bloomberg dot Com, the 221 00:12:27,120 --> 00:12:31,239 Speaker 1: Bloomberg Business Outland. At Bloomberg Quick Tape, He's a Bloomberg 222 00:12:31,320 --> 00:12:40,880 Speaker 1: business lash and I'm Cameron. Moscow stocks are rising as 223 00:12:40,920 --> 00:12:44,880 Speaker 1: ceasefire talks between Russia and Ukraine helped to fuel risk appetite. 224 00:12:45,000 --> 00:12:48,280 Speaker 1: U West Dock Index futures also gaining after benchmark indexes 225 00:12:48,400 --> 00:12:51,440 Speaker 1: rose for a third session yesterday. We checked the markets 226 00:12:51,440 --> 00:12:54,520 Speaker 1: every fifteen minutes throughout the trading day on Bloomberg S 227 00:12:54,600 --> 00:12:58,000 Speaker 1: and P futures up twenty points now futures about hundred 228 00:12:58,040 --> 00:13:01,800 Speaker 1: forty three nasday futures up sixty The decks in Germany's 229 00:13:01,880 --> 00:13:04,640 Speaker 1: up win in three quarters per cent ten Your treasury 230 00:13:04,640 --> 00:13:07,560 Speaker 1: down fourteen thirty seconds, yeld two point five one percent, 231 00:13:07,679 --> 00:13:10,440 Speaker 1: the yield on the two year two point four two percent. 232 00:13:10,920 --> 00:13:13,559 Speaker 1: Nine X Screwed oil is down four tenths percent, or 233 00:13:13,600 --> 00:13:15,880 Speaker 1: forty three cents at a hundred five dollars sixty three 234 00:13:15,880 --> 00:13:19,040 Speaker 1: cents of barrel comes goold down one and a half percent, 235 00:13:19,080 --> 00:13:22,000 Speaker 1: down twenty nine dollars thirty cents. In nineteen fifteen, forty 236 00:13:22,000 --> 00:13:25,000 Speaker 1: announced the euro one point one zero to six against 237 00:13:25,040 --> 00:13:27,560 Speaker 1: the dollar. British bound one point three zero eight nine 238 00:13:27,800 --> 00:13:31,679 Speaker 1: and the enit on three point six four bitcoin in 239 00:13:31,760 --> 00:13:36,080 Speaker 1: this morning moving lower down half percent at forty seven thousand, 240 00:13:36,120 --> 00:13:39,280 Speaker 1: seven hundred thirty dollars. That's a Bloomberg business flash. Now 241 00:13:39,320 --> 00:13:42,520 Speaker 1: here's Michael Barr with more unless going on around the world, mouncle, 242 00:13:42,559 --> 00:13:45,040 Speaker 1: Good morning, Good morning Karen. More than a month after 243 00:13:45,120 --> 00:13:50,160 Speaker 1: Russia invaded Ukraine, the two nations resumed negotiations toward a ceasefire. 244 00:13:50,200 --> 00:13:53,320 Speaker 1: Today to sit down is taking place over three days 245 00:13:53,320 --> 00:13:57,320 Speaker 1: at instant Bul. Ukrainian President Voladimir Zelenski says this country 246 00:13:57,360 --> 00:14:02,040 Speaker 1: would consider a neutrality agreement to achieve peace. Shanghai beefed 247 00:14:02,120 --> 00:14:05,160 Speaker 1: up lockdown restrictions for people residing in the eastern half 248 00:14:05,160 --> 00:14:08,520 Speaker 1: of the city, barring everyone from leaving their homes even 249 00:14:08,520 --> 00:14:12,599 Speaker 1: to walk their dogs. Record local daily COVID nineteen infections 250 00:14:12,679 --> 00:14:16,080 Speaker 1: jumped today to close to forty eight hundred. In the NBA, 251 00:14:16,240 --> 00:14:19,080 Speaker 1: the next one, the Celtics and Warriors lost. Yukon is 252 00:14:19,120 --> 00:14:21,360 Speaker 1: heading back to the Women's n C Double A Final 253 00:14:21,440 --> 00:14:24,200 Speaker 1: four for the fourteenth straight time, the Huskies beating North 254 00:14:24,240 --> 00:14:28,200 Speaker 1: Carolina State and double overtime. Yukon will face Stanford Louisville 255 00:14:28,320 --> 00:14:30,960 Speaker 1: is also when they'll face South Carolina in the NHL. 256 00:14:31,000 --> 00:14:33,640 Speaker 1: The Capital's Lost. Global news twenty four hours a day 257 00:14:33,640 --> 00:14:36,960 Speaker 1: on air and on Bloomberg Quickdake, powered by more than 258 00:14:37,040 --> 00:14:40,400 Speaker 1: twenty seven hundred journalists an analysts more than hundred twenty countries. 259 00:14:40,680 --> 00:14:44,120 Speaker 1: Michael Barr, This is Bloomberg. Nathan. Okay, Michael. Thanks, It's 260 00:14:44,160 --> 00:14:47,080 Speaker 1: five nineteen on Wall Street Live from the Bloomberg Interactive 261 00:14:47,120 --> 00:14:50,920 Speaker 1: Brokers studios. This is Bloomberg Daybreak and Mark Champion is 262 00:14:50,920 --> 00:14:53,920 Speaker 1: with us now Bloomberg News, Senior reporter for International Affairs. 263 00:14:53,960 --> 00:14:57,840 Speaker 1: As we continue to monitor these uh ceasefire talks just 264 00:14:58,040 --> 00:15:01,240 Speaker 1: now really getting underway in his stand ball between Ukraine 265 00:15:01,240 --> 00:15:04,680 Speaker 1: and Russia. Mark, good morning. Obviously, as I was saying, 266 00:15:04,760 --> 00:15:07,600 Speaker 1: they're just getting underway here. But what were the expectations 267 00:15:07,640 --> 00:15:11,520 Speaker 1: heading into these discussions. Well, it's the first time in 268 00:15:11,600 --> 00:15:14,440 Speaker 1: two weeks, so that's a that's a plus right there. 269 00:15:15,160 --> 00:15:17,960 Speaker 1: But on both sides, they've been sort of talking it 270 00:15:18,000 --> 00:15:20,880 Speaker 1: down a little bit. On the Russian side that said 271 00:15:21,080 --> 00:15:26,560 Speaker 1: there have been no breakthroughs, nothing to really change the game. 272 00:15:27,400 --> 00:15:31,560 Speaker 1: On the Ukrainian side a little bit more optimism, but 273 00:15:31,600 --> 00:15:35,800 Speaker 1: they also have said there's a lot of detail for 274 00:15:35,880 --> 00:15:39,520 Speaker 1: every point that they have in principle agreed, there's a 275 00:15:39,520 --> 00:15:42,920 Speaker 1: lot of detail for each point that hasn't been um. 276 00:15:42,960 --> 00:15:45,400 Speaker 1: And the key issue really is that you've got to 277 00:15:46,440 --> 00:15:49,720 Speaker 1: uh kind of time scales for things to agree. The 278 00:15:49,800 --> 00:15:53,160 Speaker 1: first is on a cease fire, where the Ukrainians say 279 00:15:53,200 --> 00:15:56,280 Speaker 1: that kind of minimum goal is just an improvement humanitarian 280 00:15:56,360 --> 00:16:00,120 Speaker 1: situation to stop the killing essentially, um. And then you 281 00:16:00,240 --> 00:16:03,320 Speaker 1: have a peace settlement, which includes all kinds of things 282 00:16:03,360 --> 00:16:08,400 Speaker 1: like territorial agreements, who owns what? And also you know, 283 00:16:08,440 --> 00:16:11,800 Speaker 1: when do the Russian troops withdraw? All these things make 284 00:16:11,880 --> 00:16:15,400 Speaker 1: for quite a complicated puzzle. Um. So there's a lot 285 00:16:15,440 --> 00:16:17,920 Speaker 1: to get through. Yeah, puzzle that sounds like it would 286 00:16:17,920 --> 00:16:20,560 Speaker 1: take weeks, if not months to get through. But is 287 00:16:20,600 --> 00:16:24,040 Speaker 1: the expectation then that a cease fire would have to 288 00:16:24,120 --> 00:16:26,800 Speaker 1: be in place and holding before they could get to 289 00:16:26,880 --> 00:16:31,760 Speaker 1: those broader discussions about a settlement. Well that's that's the 290 00:16:31,800 --> 00:16:34,640 Speaker 1: hard part. So you know, ideally what Ukraine would like 291 00:16:34,800 --> 00:16:37,480 Speaker 1: is just a cease fire, uh, you know, with no 292 00:16:37,960 --> 00:16:43,480 Speaker 1: attached requirements. But it sounds like there has to be 293 00:16:43,560 --> 00:16:47,640 Speaker 1: some sort of agreement on neutrality where you know, the 294 00:16:47,720 --> 00:16:50,920 Speaker 1: Russians will agree to a cease fire, but we don't 295 00:16:50,960 --> 00:16:53,880 Speaker 1: know exactly when they would agree to pull their troops out. 296 00:16:54,360 --> 00:16:56,520 Speaker 1: But the de cease fire, they're looking for some agreement 297 00:16:56,560 --> 00:17:00,320 Speaker 1: on neutrality. Um Zaniansky says he's open to that. President 298 00:17:00,360 --> 00:17:03,400 Speaker 1: Zelienski of Ukraine says he's open to it, but at 299 00:17:03,440 --> 00:17:07,840 Speaker 1: the same time that, you know, he would need security 300 00:17:07,880 --> 00:17:13,960 Speaker 1: guarantees from Western countries similar to NATO Article five. It's 301 00:17:14,000 --> 00:17:17,240 Speaker 1: you know, that seems rather difficult for Russia to accept, 302 00:17:17,280 --> 00:17:20,280 Speaker 1: which is very opposed to any kind of NATO membership, 303 00:17:20,600 --> 00:17:24,760 Speaker 1: So we kind of ASA's NATO security guarantee would be 304 00:17:24,800 --> 00:17:28,159 Speaker 1: difficult to swallow. Um And also for those countries, it 305 00:17:28,160 --> 00:17:31,480 Speaker 1: would be difficult to know what they are guaranteeing at 306 00:17:31,480 --> 00:17:37,400 Speaker 1: a time when no agreement exists on boorders. Zelienski also 307 00:17:37,400 --> 00:17:39,600 Speaker 1: says there has to be a referendum, which would take 308 00:17:39,600 --> 00:17:43,159 Speaker 1: a year on any of that kind of agreement, So 309 00:17:43,240 --> 00:17:46,080 Speaker 1: you can see the sequencing is quite difficult. Yeah, And 310 00:17:46,119 --> 00:17:47,760 Speaker 1: it sounds as though there may be a little bit 311 00:17:47,760 --> 00:17:50,639 Speaker 1: of contradiction there, or maybe I'm really get wrong with 312 00:17:50,720 --> 00:17:54,400 Speaker 1: the idea that the Ukraine would agree to some kind 313 00:17:54,400 --> 00:17:57,680 Speaker 1: of neutrality while at the same time calling for security 314 00:17:57,720 --> 00:18:02,040 Speaker 1: guarantees along the lines of NATO. How is NATO reacting 315 00:18:02,119 --> 00:18:07,600 Speaker 1: to what Ukraine is looking for here? Well, you know, 316 00:18:08,000 --> 00:18:13,080 Speaker 1: NATO is rather split, um. So you have a group 317 00:18:13,160 --> 00:18:16,760 Speaker 1: of countries, including the UK and most of the Eastern 318 00:18:16,760 --> 00:18:21,080 Speaker 1: European countries, who are extremely skeptical of Russian intentions. They 319 00:18:21,119 --> 00:18:24,720 Speaker 1: see the peace talks as a significant risk there that 320 00:18:24,800 --> 00:18:28,240 Speaker 1: Russia is basically using them to regroup after a difficult 321 00:18:28,280 --> 00:18:32,560 Speaker 1: campaign and doesn't really intend to give anything up in 322 00:18:32,680 --> 00:18:35,359 Speaker 1: terms of its major goals. That on the ground, it 323 00:18:35,400 --> 00:18:40,040 Speaker 1: continues to push for territorial gain um. And there are signs, 324 00:18:40,040 --> 00:18:43,760 Speaker 1: you know, as they try and replace the Ukrainian Rivna 325 00:18:43,840 --> 00:18:47,000 Speaker 1: with the Russian rouble in occupied areas that they you know, 326 00:18:47,040 --> 00:18:51,240 Speaker 1: they're not planning to leave anytime soon. So there's a 327 00:18:51,240 --> 00:18:54,440 Speaker 1: skeptical group, And on the other side there's France, Germany 328 00:18:54,480 --> 00:18:59,040 Speaker 1: and various others who say, look, the first priority here 329 00:18:59,240 --> 00:19:02,160 Speaker 1: is to get seas fire to stop the killing, um, 330 00:19:02,160 --> 00:19:04,840 Speaker 1: and we should be open minded, open ended about what 331 00:19:04,960 --> 00:19:08,639 Speaker 1: it takes to do that. These discussions are expected to 332 00:19:08,720 --> 00:19:13,639 Speaker 1: last today into tomorrow, so we will continue monitoring them 333 00:19:13,680 --> 00:19:16,919 Speaker 1: here on Bloomberg Radio in the meantime. Mark Champion thanks 334 00:19:16,920 --> 00:19:19,160 Speaker 1: for keeping us updated on what's been happening so far. 335 00:19:19,280 --> 00:19:22,520 Speaker 1: Mark Champion is a senior reporter for international affairs for 336 00:19:22,560 --> 00:19:26,240 Speaker 1: Bloomberg News. Looking ahead to the market, open futures are 337 00:19:26,480 --> 00:19:31,080 Speaker 1: moving a touch higher and yields are flattening the curve. 338 00:19:31,400 --> 00:19:34,480 Speaker 1: SMP futures are up twenty two points down futures up 339 00:19:34,480 --> 00:19:37,359 Speaker 1: a hundred fifty four. Nanzac futures are higher by eighty 340 00:19:37,400 --> 00:19:40,600 Speaker 1: eight points. The tenure treasury is down thirteen thirty seconds, 341 00:19:40,600 --> 00:19:42,800 Speaker 1: with the yield two point five zero percent yield on 342 00:19:42,880 --> 00:19:45,960 Speaker 1: the two year two point four two to spread of 343 00:19:46,040 --> 00:19:49,560 Speaker 1: almost eight basis points. Nimex crewd is down six tenths 344 00:19:49,560 --> 00:19:51,640 Speaker 1: per cent, or sixty seven cents at a hundred five 345 00:19:51,680 --> 00:19:54,440 Speaker 1: dollars thirty five cents of barrel comes gold right now 346 00:19:54,480 --> 00:19:57,600 Speaker 1: down one point six percent, down thirty dollars sixty cents 347 00:19:57,640 --> 00:20:08,000 Speaker 1: at nineteen thirty announced. You're listening to Bloomberg Daybreak Bloomberg 348 00:20:08,000 --> 00:20:10,200 Speaker 1: eleven three oh Weather sunny, breezy, the high only near 349 00:20:10,280 --> 00:20:14,200 Speaker 1: forty today, some midday rain. Afternoon rain showers possible tomorrow 350 00:20:14,240 --> 00:20:16,680 Speaker 1: with highs in the mid forties. Could be near seventy 351 00:20:16,720 --> 00:20:23,640 Speaker 1: by Thursday. Right now in Central Park, broadcasting live from 352 00:20:23,640 --> 00:20:27,480 Speaker 1: the Bloomberg Interactive Broker Studio in New York. Bloomberg E 353 00:20:27,520 --> 00:20:30,560 Speaker 1: Living Free on to Washington, d C, Bloomberg ninety nine 354 00:20:30,600 --> 00:20:34,119 Speaker 1: one to Boston, Bloomberg one O six one to San Francisco, 355 00:20:34,200 --> 00:20:37,399 Speaker 1: Bloomberg Nam sixty to the Country, Sirius XM to the 356 00:20:37,520 --> 00:20:40,840 Speaker 1: one nine and around the globe the Bloomberg business in 357 00:20:40,920 --> 00:20:50,840 Speaker 1: Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five 358 00:20:50,880 --> 00:20:53,320 Speaker 1: thirty on Wall Street. Good morning. I'm Nathan Hagger and 359 00:20:53,359 --> 00:20:56,560 Speaker 1: I'm Keren Moscow, and we're just about four hours away 360 00:20:56,640 --> 00:20:58,639 Speaker 1: from the open of US trading. Let's get you up 361 00:20:58,640 --> 00:21:00,520 Speaker 1: to date in the news you need to know this hour. 362 00:21:00,800 --> 00:21:04,320 Speaker 1: Ukraine is looking for a ceasefire agreement and talk to 363 00:21:04,400 --> 00:21:08,120 Speaker 1: the Russian negotiators. Their meeting right now in Turkey, where 364 00:21:08,160 --> 00:21:11,520 Speaker 1: President er Tawan says he expects quote good news from 365 00:21:11,520 --> 00:21:14,760 Speaker 1: the peace talks. The meantime, Karen, President Biden is clarifying 366 00:21:14,840 --> 00:21:17,679 Speaker 1: his remarks on Vladimir Putin. He says the US is 367 00:21:17,760 --> 00:21:20,960 Speaker 1: not seeking regime change in Russia, but that he still 368 00:21:21,040 --> 00:21:24,240 Speaker 1: has the right to express concern. I was expressing my 369 00:21:24,400 --> 00:21:30,119 Speaker 1: outrage at the behavior of this man. It's outrageous. It's outrageous, 370 00:21:30,800 --> 00:21:34,439 Speaker 1: and it's more an aspiration, and he shouldn't be in power. 371 00:21:34,960 --> 00:21:37,960 Speaker 1: There's no I mean, people like this shouldn't be ruling countries. 372 00:21:38,000 --> 00:21:40,520 Speaker 1: But they do. The fact they do, but doesn't mean 373 00:21:40,560 --> 00:21:44,200 Speaker 1: I can't express my outrage. President Biden is rejecting criticism 374 00:21:44,240 --> 00:21:48,200 Speaker 1: that his comments escalated the situation with Russia. Meantime, Nathan, 375 00:21:48,240 --> 00:21:51,640 Speaker 1: the President's budget is also in focus. He's renewing efforts 376 00:21:51,640 --> 00:21:55,360 Speaker 1: to squeeze more tax revenue from big companies and wealthy households. 377 00:21:55,600 --> 00:21:58,240 Speaker 1: His new budget calls for a two point five trillion 378 00:21:58,280 --> 00:22:00,960 Speaker 1: dollars in tax hikes. Turning into markets now, we have 379 00:22:01,000 --> 00:22:04,280 Speaker 1: several companies making headlines this morning. Let's get the details 380 00:22:04,280 --> 00:22:07,400 Speaker 1: live with Bloomberg's John Tucker. What's watching, John, Nathan, Let's 381 00:22:07,400 --> 00:22:09,439 Speaker 1: start with a change at the top. At fed X, 382 00:22:09,440 --> 00:22:12,520 Speaker 1: the package delivery company is named roj Supermanni and Nance 383 00:22:12,600 --> 00:22:16,240 Speaker 1: it's new CEO. He takes over from founder Fred Smith, 384 00:22:16,280 --> 00:22:20,040 Speaker 1: who pioneered express delivery almost fifty years ago. Up next, 385 00:22:20,119 --> 00:22:23,000 Speaker 1: let's talk Amazon. It's become the first mega cap tech 386 00:22:23,040 --> 00:22:26,320 Speaker 1: stock to erase losses for the year. Shares are now 387 00:22:26,400 --> 00:22:29,760 Speaker 1: up one point four percent since January one, and finally, 388 00:22:29,880 --> 00:22:33,320 Speaker 1: Apple shares their heading for their longest winning streak since 389 00:22:33,320 --> 00:22:37,800 Speaker 1: two thousand three. After a dismal start, too Apples seen 390 00:22:37,840 --> 00:22:41,159 Speaker 1: its earnings hast events being upgraded by analysts. Live in 391 00:22:41,240 --> 00:22:43,920 Speaker 1: New York, I'm John Tucker Bloomberg Daybreak. All right, John, 392 00:22:43,960 --> 00:22:45,800 Speaker 1: thank you. Let's turn to Hong Kong now, where the 393 00:22:45,840 --> 00:22:48,520 Speaker 1: outlook for bankers is looking up. This city has seen 394 00:22:48,520 --> 00:22:51,000 Speaker 1: an next it is of finance staff, but those that 395 00:22:51,160 --> 00:22:54,359 Speaker 1: stayed are getting rewarded. Bloomberg's Reni to Young joins us 396 00:22:54,400 --> 00:22:56,960 Speaker 1: live with the details. Good morning, Ready to Good morning Karen. 397 00:22:57,040 --> 00:22:59,800 Speaker 1: For tech savvy workers willing to live in the somewhat 398 00:23:00,040 --> 00:23:04,920 Speaker 1: selated city, opportunities like big promotions and pay increases are plentiful, 399 00:23:05,280 --> 00:23:08,920 Speaker 1: at least for the short term. Typically, finance workers heading 400 00:23:08,960 --> 00:23:11,160 Speaker 1: to a different company in Hong Kong would get about 401 00:23:11,160 --> 00:23:14,440 Speaker 1: a fifteen percent pay hike, but executive search firm E 402 00:23:14,600 --> 00:23:19,280 Speaker 1: s g I says they're seeing twenty increases. Meantime, data 403 00:23:19,320 --> 00:23:22,280 Speaker 1: show the number of new visas issue to foreign financial 404 00:23:22,320 --> 00:23:25,800 Speaker 1: service workers in Hong Kong is down almost fifty percent 405 00:23:25,960 --> 00:23:29,320 Speaker 1: from Live in New York. I'm gonna need a young 406 00:23:29,359 --> 00:23:32,080 Speaker 1: Bloomberg daybreak. Need to thank you your local headlines to 407 00:23:32,160 --> 00:23:38,439 Speaker 1: check us sports straight ahead. This is Bloomberg, all right. 408 00:23:38,440 --> 00:23:41,119 Speaker 1: Thanks taring it on Wall Street where twenty five degrees 409 00:23:41,160 --> 00:23:43,560 Speaker 1: in Central Park. Still seeing some lingering construction on the 410 00:23:43,600 --> 00:23:45,960 Speaker 1: saw mill. Will get the details in traffic shortly. First 411 00:23:45,960 --> 00:23:47,880 Speaker 1: Michael bar with more on what's going on in New 412 00:23:47,960 --> 00:23:50,399 Speaker 1: York and around the world. Michael, thank you very much. Nathan. 413 00:23:50,400 --> 00:23:53,600 Speaker 1: New York City Mayor Eric Adams is criticizing Florida's so 414 00:23:53,680 --> 00:23:57,440 Speaker 1: called Don't Say Gay bill. Florida Governor Around de Santis 415 00:23:57,440 --> 00:24:01,359 Speaker 1: signed a bill that limits instruction about gender identity and 416 00:24:01,480 --> 00:24:05,760 Speaker 1: sexual orientation in kindergarten through third grade in Florida. We 417 00:24:05,800 --> 00:24:08,639 Speaker 1: will make sure that parents can send their kids to 418 00:24:08,760 --> 00:24:16,120 Speaker 1: school to get an education, not an indoctrination, critics say 419 00:24:16,320 --> 00:24:20,960 Speaker 1: will further marginalize those in the LGBTQ community. Mayor Adams 420 00:24:20,960 --> 00:24:23,800 Speaker 1: called the bill hateful and harmful, saying to the families 421 00:24:23,840 --> 00:24:27,479 Speaker 1: living in fear of this state sponsored discrimination, You're welcome 422 00:24:27,480 --> 00:24:30,320 Speaker 1: in New York City. Our arms and hearts are wide open, 423 00:24:30,600 --> 00:24:34,720 Speaker 1: embracing every child of every identity. Always. The House Committee 424 00:24:34,720 --> 00:24:38,080 Speaker 1: investigating last year's attack on the US Capitol has voted 425 00:24:38,160 --> 00:24:41,479 Speaker 1: unanimously to hold two ages to former President Donald Trump 426 00:24:41,680 --> 00:24:46,200 Speaker 1: in contempt of Congress. Trade Advisor Peter Navarro and communications 427 00:24:46,240 --> 00:24:49,560 Speaker 1: aide Dan Scabino have refused for months to comply with 428 00:24:49,600 --> 00:24:53,159 Speaker 1: subpoenas it comes. As U S District Judge David Carter 429 00:24:53,320 --> 00:24:56,480 Speaker 1: ruled based on the evidence, the court finds it is 430 00:24:56,480 --> 00:25:00,080 Speaker 1: more likely than not that President Trump corruptly attempt to 431 00:25:00,320 --> 00:25:05,080 Speaker 1: obstruct the Joint Session of Congress. On January six, during 432 00:25:05,080 --> 00:25:09,040 Speaker 1: the contempt hearing, Committee chair Benny Thompson said the judge's 433 00:25:09,119 --> 00:25:12,440 Speaker 1: ruling is victory for the rule of law. I encourage 434 00:25:12,480 --> 00:25:16,760 Speaker 1: people at home to read what Judge Carter wrote and 435 00:25:16,880 --> 00:25:21,879 Speaker 1: consider his words very carefully. His warnings about the ongoing 436 00:25:22,000 --> 00:25:27,280 Speaker 1: threat to American democracy shield alarm every person in this country. 437 00:25:27,520 --> 00:25:30,440 Speaker 1: The panel's resolution now goes to the House approval, there 438 00:25:30,440 --> 00:25:33,520 Speaker 1: would send the charges to the Justice Department. There has 439 00:25:33,560 --> 00:25:36,760 Speaker 1: been an apology after Will Smith slapped Chris Rock at 440 00:25:36,760 --> 00:25:41,200 Speaker 1: the Academy Awards Sunday. Smith issued a personal apology to Rock. 441 00:25:41,640 --> 00:25:45,080 Speaker 1: Smith could face disciplinary action by the Motion Picture Academy. 442 00:25:45,480 --> 00:25:48,159 Speaker 1: Global News twenty four hours a day on air and 443 00:25:48,359 --> 00:25:51,720 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred 444 00:25:51,800 --> 00:25:55,159 Speaker 1: journalists and analyst more than a hundred twenty countries. Michael Barron, 445 00:25:55,240 --> 00:26:03,840 Speaker 1: this is Bloomberg. Nathan Okay, Michael, Thanks Ball Street time 446 00:26:03,880 --> 00:26:06,720 Speaker 1: for the Bloomberg Sports Update. Just just John Stenshow Thanks Kaan. 447 00:26:06,720 --> 00:26:09,360 Speaker 1: The Knicks playoff folks for I mean, slim the damage 448 00:26:09,400 --> 00:26:12,119 Speaker 1: done with that mid season stretch when they lost seventeen 449 00:26:12,160 --> 00:26:14,280 Speaker 1: out of twenty. But to their credit, Nick's not going 450 00:26:14,359 --> 00:26:15,919 Speaker 1: down without a fight. Just had a three and oh 451 00:26:16,000 --> 00:26:18,840 Speaker 1: road trip, came home, came from twelve down, beat Chicango 452 00:26:19,000 --> 00:26:21,520 Speaker 1: one oh nine, one oh four, r J Barrett twenty 453 00:26:21,600 --> 00:26:24,879 Speaker 1: eight points. Fight. So that's it's not an option for us. 454 00:26:25,000 --> 00:26:28,200 Speaker 1: We're fighting no matter what. We're a very good team 455 00:26:28,800 --> 00:26:31,800 Speaker 1: and uh, you know, we've been disappointed with how we 456 00:26:31,920 --> 00:26:34,520 Speaker 1: started the season, but we're a very good team when 457 00:26:34,520 --> 00:26:36,800 Speaker 1: we're pulling out these wins and we're scratching and klawn 458 00:26:36,880 --> 00:26:39,200 Speaker 1: and playing very well. All burks at a twenty seven 459 00:26:39,240 --> 00:26:41,360 Speaker 1: second straight game where Burke's hit the big three down 460 00:26:41,400 --> 00:26:43,320 Speaker 1: the stretch of the night where Julius Randall only made 461 00:26:43,359 --> 00:26:46,320 Speaker 1: one shot his backup Obi Topp and scored seventeen points. 462 00:26:46,320 --> 00:26:49,960 Speaker 1: Slumping Warriors missing Steph Curry blown out in Memphis. Golden 463 00:26:49,960 --> 00:26:52,159 Speaker 1: States lost six of seven n C Double A women's 464 00:26:52,200 --> 00:26:55,880 Speaker 1: final four will have three one scenes Stanford, South Carolina 465 00:26:55,920 --> 00:26:58,399 Speaker 1: and Louisville plus Yukon who had a down season by 466 00:26:58,440 --> 00:27:01,720 Speaker 1: their standards with five losses, but Huskies beat top seed 467 00:27:01,800 --> 00:27:06,280 Speaker 1: NC State double overtime, and now after a fourteenth final 468 00:27:06,400 --> 00:27:07,719 Speaker 1: four in a row, you kind of have a big 469 00:27:07,760 --> 00:27:10,520 Speaker 1: home court advantage getting to play the game in Bridgeport. 470 00:27:11,080 --> 00:27:14,800 Speaker 1: NFL owners meeting in Florida, facing criticism for lack of 471 00:27:14,960 --> 00:27:18,800 Speaker 1: minority head coaches and announcing the change in hiring practices 472 00:27:18,920 --> 00:27:21,840 Speaker 1: and so often teams look to hire coaches whose background 473 00:27:21,960 --> 00:27:24,240 Speaker 1: is on offense. Every team will now have to have 474 00:27:24,359 --> 00:27:27,440 Speaker 1: a minority on its staff that works with the offense, 475 00:27:27,480 --> 00:27:30,840 Speaker 1: and the rooty rule that demands interviews with minority candidates 476 00:27:30,880 --> 00:27:34,679 Speaker 1: has been expanded to have include female candidates. John Stashward 477 00:27:34,720 --> 00:27:37,760 Speaker 1: Bloomberg Sports Nathan thanks shun by thirty seven on Wall 478 00:27:37,800 --> 00:27:40,679 Speaker 1: Street Time for the Tri State Business Report. Here's Bloomberg's 479 00:27:40,680 --> 00:27:43,880 Speaker 1: dead cory. A forty million dollar gift from Citadel's Ken 480 00:27:43,960 --> 00:27:48,040 Speaker 1: Griffin is helping the American Museum of Natural History complete 481 00:27:48,040 --> 00:27:51,240 Speaker 1: a two hundred thirty thousand square foot center. The donation 482 00:27:51,359 --> 00:27:53,440 Speaker 1: is part of the three hundred forty million race so 483 00:27:53,640 --> 00:27:57,400 Speaker 1: far for the Richard Gilder Center for Science, Education and Innovation. 484 00:27:57,720 --> 00:28:00,719 Speaker 1: New York cut offer the world's first cannabis uni bonds 485 00:28:00,840 --> 00:28:04,440 Speaker 1: or a fund named after Harlem's hash lounges from the twenties. 486 00:28:04,920 --> 00:28:08,280 Speaker 1: Those are ideas being pitched to promote diversity among the 487 00:28:08,359 --> 00:28:12,240 Speaker 1: initial owners of New York marijuana dispensaries. Now the state 488 00:28:12,320 --> 00:28:15,560 Speaker 1: wants to encourage social equity applicants to start up the 489 00:28:15,640 --> 00:28:18,960 Speaker 1: cannabis outlets. Well, there's a slight gender pay gap for 490 00:28:19,080 --> 00:28:22,320 Speaker 1: men under thirty in New York City. Nationally, women in 491 00:28:22,400 --> 00:28:25,000 Speaker 1: that age group earned about three cents on the dollar 492 00:28:25,080 --> 00:28:28,119 Speaker 1: compared to men. According to the Pew Research Center, the 493 00:28:28,240 --> 00:28:30,679 Speaker 1: gender gap in favor of women under thirty in New 494 00:28:30,800 --> 00:28:33,639 Speaker 1: York is slim. They make one two percent of what 495 00:28:33,760 --> 00:28:37,840 Speaker 1: their male peers earned. Thatrew Bloomberg trying State Business Report. 496 00:28:38,000 --> 00:28:40,560 Speaker 1: I'm Ed Corey. Thank you Ed. It's thirty eight on 497 00:28:40,600 --> 00:28:42,719 Speaker 1: Wall Street. Bloomberg Radio is on the air from San 498 00:28:42,800 --> 00:28:45,600 Speaker 1: Francisco to New York, London to Hong Kong. Let's check 499 00:28:45,640 --> 00:28:47,600 Speaker 1: in with our global news team for some of the 500 00:28:47,640 --> 00:28:50,479 Speaker 1: top stories heard on our three hundred affiliate radio stations 501 00:28:50,520 --> 00:28:56,440 Speaker 1: around the world. I've Stein's potents on ten ten Wins 502 00:28:56,440 --> 00:28:59,000 Speaker 1: in New York. We're talking about a passenger flight from 503 00:28:59,120 --> 00:29:02,000 Speaker 1: JFK to Hong Kong that'll be the world's longest. In 504 00:29:02,080 --> 00:29:06,160 Speaker 1: an effort to avoid Russian skies. M Corney Donahean carel 505 00:29:06,240 --> 00:29:09,360 Speaker 1: D in Dallas Southwest agrees to give racist to customer 506 00:29:09,440 --> 00:29:13,560 Speaker 1: service agents Time Gina Servetti And for w BBM in Chicago, 507 00:29:13,720 --> 00:29:17,400 Speaker 1: I'm reporting that Citadel's Ken Griffin is donating forty million 508 00:29:17,520 --> 00:29:21,000 Speaker 1: dollars to New York's American Museum of Natural History. I 509 00:29:21,080 --> 00:29:23,840 Speaker 1: made Corey on w t A M in Cleveland. I'm 510 00:29:23,880 --> 00:29:27,000 Speaker 1: reporting the store, known from making big investments in neighborhoods 511 00:29:27,040 --> 00:29:30,320 Speaker 1: around this city in recent years, is closing. Those are 512 00:29:30,400 --> 00:29:33,200 Speaker 1: some of the stories are twenty seven hundred Bloomberg journalists 513 00:29:33,240 --> 00:29:35,400 Speaker 1: and analysts are working on this morning around the world. 514 00:29:35,480 --> 00:29:38,120 Speaker 1: It's five thirty nine on Wall Street. The following is 515 00:29:38,160 --> 00:29:42,600 Speaker 1: an editorial from Bloomberg Opinion. This editorial was written by 516 00:29:42,720 --> 00:29:47,680 Speaker 1: the Bloomberg Editorial Board. The US is facing a retirement crisis. 517 00:29:47,960 --> 00:29:52,040 Speaker 1: About half of working age households won't have enough resources 518 00:29:52,160 --> 00:29:56,200 Speaker 1: to live comfortably after they leave the workforce. That's a 519 00:29:56,280 --> 00:29:59,880 Speaker 1: looming disaster for them and a fiscal mess in the making. 520 00:30:00,320 --> 00:30:03,720 Speaker 1: After all, the more people reach retirement without enough money, 521 00:30:03,960 --> 00:30:07,440 Speaker 1: the more they'll depend on the social safety net. By 522 00:30:07,520 --> 00:30:12,240 Speaker 1: twenty thirty, seniors will require and added seven billion dollars 523 00:30:12,320 --> 00:30:16,320 Speaker 1: in annual public assistance in New Jersey alone. That's almost 524 00:30:16,360 --> 00:30:19,240 Speaker 1: a fifth of the current state budget, and the situation 525 00:30:19,360 --> 00:30:22,640 Speaker 1: in other states will likely be worse. This week, the 526 00:30:22,720 --> 00:30:27,440 Speaker 1: House is expected to consider legislation expanding automatic enrollment in 527 00:30:27,600 --> 00:30:31,720 Speaker 1: employee retirement plans. That's a welcome start, but more is 528 00:30:31,840 --> 00:30:36,520 Speaker 1: still needed. Above all, policymakers must be thinking seriously about 529 00:30:36,600 --> 00:30:39,960 Speaker 1: how to get Americans to save more for their golden years. 530 00:30:40,520 --> 00:30:43,720 Speaker 1: This editorial was written by the Bloomberg Editorial Board. For 531 00:30:43,800 --> 00:30:46,959 Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash 532 00:30:47,080 --> 00:30:50,640 Speaker 1: opinion or ope I N go on the Bloomberg terminal. 533 00:30:50,880 --> 00:30:54,800 Speaker 1: This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials 534 00:30:54,840 --> 00:30:57,960 Speaker 1: every week at this time. Terminal customers can read more 535 00:30:58,000 --> 00:31:00,800 Speaker 1: at op I N go as BE futures are up 536 00:31:00,840 --> 00:31:02,960 Speaker 1: twenty three points. That's a game of a half percent down. 537 00:31:03,000 --> 00:31:05,400 Speaker 1: Future is up a hundred fifty two. NASTAC futures are 538 00:31:05,480 --> 00:31:08,520 Speaker 1: higher by eighty nine points. The tenure Treasury is down 539 00:31:08,560 --> 00:31:11,080 Speaker 1: thirteen thirty seconds. The yield two point five zero percent 540 00:31:11,160 --> 00:31:14,760 Speaker 1: yeld on the two year two point four three. You're 541 00:31:14,840 --> 00:31:24,360 Speaker 1: listening to Bloomberg Daybreak Bloomberg eleven three oh weather, sunshine 542 00:31:24,360 --> 00:31:26,120 Speaker 1: and a breeze today with the high only near forty. 543 00:31:26,160 --> 00:31:28,840 Speaker 1: We'll get to the mid forties tomorrow with showers. Might 544 00:31:28,880 --> 00:31:31,280 Speaker 1: see a few more afternoon showers on Thursday as well, 545 00:31:31,360 --> 00:31:38,600 Speaker 1: with a high near seventy. Right now, markets, headlines and 546 00:31:38,800 --> 00:31:42,000 Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com, 547 00:31:42,120 --> 00:31:45,720 Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's 548 00:31:45,720 --> 00:31:54,840 Speaker 1: a Bloomberg Business Flash find I'm Karen Moscow stalks on 549 00:31:54,920 --> 00:31:58,400 Speaker 1: the rise and ceasefire talks between Russia and Ukraine helped 550 00:31:58,400 --> 00:32:01,360 Speaker 1: to fuel risk appetite. You Stock index Future is also 551 00:32:01,480 --> 00:32:04,840 Speaker 1: gaining after benchmark indexes rose for a third session yesterday. 552 00:32:05,160 --> 00:32:07,560 Speaker 1: We checked the markets every fifteen minutes throughout the trading 553 00:32:07,640 --> 00:32:10,000 Speaker 1: day on Bloomberg U S and P future is up 554 00:32:10,000 --> 00:32:12,480 Speaker 1: twenty one points down. Futures have a hundred thirty nine 555 00:32:12,560 --> 00:32:15,040 Speaker 1: NAS day future is up eighty eight The decks in 556 00:32:15,120 --> 00:32:18,640 Speaker 1: Germany's up to percent ten year treasury down thirteen thirty 557 00:32:18,720 --> 00:32:21,280 Speaker 1: seconds yea two point five zero percent. The yield on 558 00:32:21,320 --> 00:32:24,480 Speaker 1: the two year two point four three percent. I X 559 00:32:24,520 --> 00:32:26,760 Speaker 1: screwed oil is up a quarter percent, or twenty nine 560 00:32:26,800 --> 00:32:28,880 Speaker 1: cents and a hundred six dollars twenty four cents of 561 00:32:28,920 --> 00:32:31,880 Speaker 1: barrel COMEX school down one and a half percent, down 562 00:32:31,920 --> 00:32:35,240 Speaker 1: twenty nine dollars twenty cents at nineteen fifteen sixty announced 563 00:32:35,640 --> 00:32:38,440 Speaker 1: the euro one point one zero four two against the dollar, 564 00:32:38,520 --> 00:32:40,840 Speaker 1: British pound one point three zero nine five and the 565 00:32:40,960 --> 00:32:44,360 Speaker 1: unit one twenty three point seven two had Bitcoin this 566 00:32:44,560 --> 00:32:48,480 Speaker 1: morning moving lower, down about seven ten percent at forty 567 00:32:48,560 --> 00:32:51,960 Speaker 1: seven thousand, six hundred fifty dollars. That's a Bloomberg business flash. 568 00:32:52,040 --> 00:32:54,200 Speaker 1: Now here's Michael Barr with more on what's going on 569 00:32:54,320 --> 00:32:57,680 Speaker 1: around the world. Michael Karen, thank you very much. Russian 570 00:32:57,680 --> 00:33:00,200 Speaker 1: and Ukraine have started peace talks in his tent old 571 00:33:00,280 --> 00:33:04,040 Speaker 1: in Mariupal Alone. Russia's siege of the southern city has 572 00:33:04,120 --> 00:33:06,800 Speaker 1: killed almost five thousand people, according to the city's mayor. 573 00:33:07,320 --> 00:33:10,120 Speaker 1: President Joe Biden said he was an announcing the US 574 00:33:10,240 --> 00:33:14,240 Speaker 1: policy change when he declared Russian President Vladimir Putin cannot 575 00:33:14,400 --> 00:33:17,640 Speaker 1: remain in power, but was expressing his own anger about 576 00:33:17,680 --> 00:33:20,720 Speaker 1: the invasion of Ukraine. Biden's old reporters, I am not 577 00:33:20,880 --> 00:33:23,360 Speaker 1: walking anything back. The fact of the matter is I 578 00:33:23,480 --> 00:33:26,600 Speaker 1: was expressing the moral outrage I felt. In the NBA. 579 00:33:26,760 --> 00:33:30,080 Speaker 1: The next one, the Celtics and Warriors lost. Yukon is 580 00:33:30,160 --> 00:33:32,240 Speaker 1: heading back to the Women's n C Double A Final 581 00:33:32,360 --> 00:33:35,480 Speaker 1: four for the fourteenth straight time. The Huskies beat North 582 00:33:35,520 --> 00:33:39,440 Speaker 1: Carolina State seven and a double overtime thriller. Yukon will 583 00:33:39,480 --> 00:33:42,560 Speaker 1: face Stanford. Louisville is also in. They'll face South Carolina 584 00:33:42,760 --> 00:33:45,840 Speaker 1: in the NHL. The Capital's Lost. Global News twenty four 585 00:33:45,880 --> 00:33:48,720 Speaker 1: hours a day on air and on Bloomberg Quick Take, 586 00:33:48,960 --> 00:33:51,719 Speaker 1: powered by more than seven hundred journalists and analysts more 587 00:33:51,720 --> 00:33:54,600 Speaker 1: than a hundred twenty countries. Michael Barr, this is Bloomberg. 588 00:33:54,680 --> 00:33:57,040 Speaker 1: Nathan Okay, Michael, thank you. It's five forty nine on 589 00:33:57,120 --> 00:34:00,080 Speaker 1: Wall Street Live from the Bloomberg Interactive Brokers Studios. This 590 00:34:00,360 --> 00:34:03,360 Speaker 1: is Bloomberg Daybreak and We're joined now by Bloomberg Washington 591 00:34:03,440 --> 00:34:07,960 Speaker 1: correspondent Joe Matthew, host of Sound On Here on Bloomberg Radio. 592 00:34:08,239 --> 00:34:12,080 Speaker 1: As we continue to assess the fallout, the continuing fallout, 593 00:34:12,120 --> 00:34:16,560 Speaker 1: it seems from President Biden's remarks in Warsaw over the weekend. 594 00:34:16,719 --> 00:34:19,480 Speaker 1: As we just heard from Michael in the news there, Joe, 595 00:34:20,120 --> 00:34:24,680 Speaker 1: the President is not walking anything back, he says, is 596 00:34:24,760 --> 00:34:27,560 Speaker 1: he cleaning up the clean up? Well, I guess, you know, 597 00:34:27,840 --> 00:34:30,840 Speaker 1: cleaning up as opposed to walking back. Maybe in Washington 598 00:34:30,920 --> 00:34:33,200 Speaker 1: there's there's there's some truth in the middle of those 599 00:34:33,239 --> 00:34:35,840 Speaker 1: two things. The fact of the matter is Joe Biden 600 00:34:36,120 --> 00:34:39,880 Speaker 1: called the only hours earlier, called Vladimir Putin on Saturday 601 00:34:40,000 --> 00:34:42,600 Speaker 1: a butcher, has called him a war criminal. Last week, 602 00:34:42,920 --> 00:34:45,920 Speaker 1: he's called him a pariah. So when you really consider 603 00:34:46,000 --> 00:34:48,680 Speaker 1: what was said at the podium on Saturday night, while 604 00:34:48,680 --> 00:34:50,879 Speaker 1: it got a lot of people worked up, it really 605 00:34:50,960 --> 00:34:54,239 Speaker 1: didn't change anything. It wasn't a new opinion that the 606 00:34:54,280 --> 00:34:56,959 Speaker 1: president was forming. It just seemed to get people worked 607 00:34:57,040 --> 00:34:59,160 Speaker 1: up about the idea of regime change, and he did 608 00:34:59,320 --> 00:35:01,440 Speaker 1: clean up that part of the remark yesterday. I will 609 00:35:01,440 --> 00:35:03,600 Speaker 1: note that this was a news conference. If I can 610 00:35:03,680 --> 00:35:04,960 Speaker 1: even call it that it was supposed to be a 611 00:35:05,040 --> 00:35:08,960 Speaker 1: speech rolling out the new budget proposal. Reporters had nothing 612 00:35:09,160 --> 00:35:12,440 Speaker 1: but questions about this and that's the problem. Yeah, And 613 00:35:12,520 --> 00:35:15,960 Speaker 1: I guess that's no surprise here given the fallout that 614 00:35:16,040 --> 00:35:19,880 Speaker 1: we're seeing as talks are now underway between Russian and 615 00:35:20,040 --> 00:35:24,279 Speaker 1: Ukrainian negotiators once again and NATO watching from the sidelines. 616 00:35:24,640 --> 00:35:28,440 Speaker 1: Through the president's comments complicate what's happening as far as 617 00:35:28,480 --> 00:35:30,640 Speaker 1: diplomacy goes to try to end this war. Well, if 618 00:35:30,680 --> 00:35:32,879 Speaker 1: you have, if you ask Emmanuel Mcrone of France, he'd 619 00:35:32,920 --> 00:35:35,400 Speaker 1: say yes, he was concerned about the butcher remark that 620 00:35:35,440 --> 00:35:38,200 Speaker 1: I mentioned, along with the comments the nine words as 621 00:35:38,239 --> 00:35:41,719 Speaker 1: they've become known, uh from Saturday night. But the fact 622 00:35:41,760 --> 00:35:44,160 Speaker 1: of the matter is expectations are pretty low for these 623 00:35:44,239 --> 00:35:46,960 Speaker 1: talks and when you when you consider the nine words 624 00:35:47,120 --> 00:35:49,839 Speaker 1: that the President said in that speech, again, they don't 625 00:35:49,880 --> 00:35:52,560 Speaker 1: really advance the ball from what has already been said. 626 00:35:52,600 --> 00:35:55,040 Speaker 1: If you believe that Vladimir Putin is a war criminal, 627 00:35:55,400 --> 00:35:59,400 Speaker 1: this administration says that it does, then that is entirely 628 00:35:59,560 --> 00:36:02,120 Speaker 1: consist didn't with believing that that person doesn't deserve to 629 00:36:02,200 --> 00:36:04,680 Speaker 1: run their own country. It doesn't mean, however, that America 630 00:36:04,760 --> 00:36:06,200 Speaker 1: is going to go in and knock him out. That's 631 00:36:06,320 --> 00:36:08,600 Speaker 1: that's the one thing the President had to make clear. 632 00:36:09,000 --> 00:36:11,799 Speaker 1: So where does diplomacy go from here? Joe? Has there 633 00:36:11,840 --> 00:36:16,000 Speaker 1: been any reach out between the US and Russia when 634 00:36:16,080 --> 00:36:18,680 Speaker 1: it comes to what the President had to say, No, 635 00:36:18,920 --> 00:36:20,640 Speaker 1: I don't think so, not at least not on a 636 00:36:20,760 --> 00:36:23,520 Speaker 1: political level. We do have a deconfliction line that apparently 637 00:36:23,560 --> 00:36:26,160 Speaker 1: we are testing on a daily basis between the US 638 00:36:26,239 --> 00:36:29,680 Speaker 1: and Russian military. Is just for the sake of communications, 639 00:36:29,719 --> 00:36:32,320 Speaker 1: to avoid an accident, that type of thing. But the 640 00:36:32,360 --> 00:36:35,879 Speaker 1: President was asked yesterday repeatedly if he would be open 641 00:36:35,960 --> 00:36:39,040 Speaker 1: to to meeting with Vladimir Putin, and his only answer 642 00:36:39,120 --> 00:36:41,920 Speaker 1: each time around was it depends. It depends what you know. 643 00:36:42,040 --> 00:36:43,800 Speaker 1: What is it that we would get? What is it 644 00:36:43,880 --> 00:36:46,440 Speaker 1: that he would be asking at some point if we're 645 00:36:46,440 --> 00:36:48,600 Speaker 1: gonna have a ceasefire here, someone's gonna need to talk 646 00:36:48,680 --> 00:36:52,320 Speaker 1: to Vladimir Putin. Whether it's Joe Biden is another question. 647 00:36:52,680 --> 00:36:54,279 Speaker 1: To go back to your earlier point about all the 648 00:36:54,360 --> 00:36:58,200 Speaker 1: questions being about Russia as opposed to the budget release. 649 00:36:58,320 --> 00:37:01,920 Speaker 1: Let's talk about the budget. Obviously, a lot of attention 650 00:37:02,120 --> 00:37:05,960 Speaker 1: on these new tax proposals for the wealthy, and it 651 00:37:06,080 --> 00:37:11,080 Speaker 1: seems as though they're already getting some pretty important pushback. Yeah. Well, 652 00:37:11,280 --> 00:37:14,200 Speaker 1: you know that the gentleman from West Virginia is always 653 00:37:14,239 --> 00:37:16,520 Speaker 1: there when you need him, unless your name is Joe Biden. 654 00:37:16,560 --> 00:37:20,080 Speaker 1: I guess, uh, you cannot grow fascinating quote. You can't 655 00:37:20,080 --> 00:37:23,720 Speaker 1: be taxed on things you don't have, said Joe Manchion. 656 00:37:23,800 --> 00:37:27,000 Speaker 1: This is referring to this idea of taxing unrealized games. 657 00:37:27,640 --> 00:37:30,080 Speaker 1: It's uh, it's a five point eight billion dollar, trillion 658 00:37:30,120 --> 00:37:34,480 Speaker 1: dollar budget, I should say, and part of this involves 659 00:37:35,080 --> 00:37:37,960 Speaker 1: a drop in deficit spending. The White House is trying 660 00:37:38,000 --> 00:37:42,000 Speaker 1: to show fiscal responsibility with a trillion dollars over ten 661 00:37:42,120 --> 00:37:45,480 Speaker 1: years in deficit reduction. But to achieve that, you need 662 00:37:45,600 --> 00:37:48,040 Speaker 1: this billionaire's tax, if I can call it that, at 663 00:37:48,080 --> 00:37:52,280 Speaker 1: twenty minimum tax on income and unrealized games for households 664 00:37:52,280 --> 00:37:54,680 Speaker 1: worth a hundred billion dollars or more. This is gonna 665 00:37:54,719 --> 00:37:56,719 Speaker 1: sound familiar to you, Nathan. We talked about it back 666 00:37:56,760 --> 00:37:59,360 Speaker 1: when this was a component, or at least proposed to 667 00:37:59,440 --> 00:38:02,000 Speaker 1: be part of the Build Back Better legislation last year, 668 00:38:02,000 --> 00:38:04,600 Speaker 1: and of course that did not pass the chair of 669 00:38:04,640 --> 00:38:07,560 Speaker 1: the House Ways and Means Committee, Richard Neil apparently is 670 00:38:07,600 --> 00:38:10,400 Speaker 1: not in favor of this. Kirston Cinema is not about 671 00:38:10,440 --> 00:38:13,200 Speaker 1: to vote for it, so it's unlikely that this goes anywhere. 672 00:38:13,520 --> 00:38:16,920 Speaker 1: Bloomberg's Joe Matthew, our Washington correspondent, host of Sound On 673 00:38:17,239 --> 00:38:19,680 Speaker 1: here on Bloomberg Radio. Of course, we'll have much more 674 00:38:20,000 --> 00:38:23,080 Speaker 1: on sound On coming up this afternoon five pm, Wall 675 00:38:23,160 --> 00:38:26,120 Speaker 1: Street Time on Bloomberg Radio, and we'll be checking back 676 00:38:26,160 --> 00:38:29,359 Speaker 1: with Joe later on in this program Bloomberg Day Break 677 00:38:29,520 --> 00:38:33,040 Speaker 1: later on Karen. All right, Nathan is three on Wall Street. 678 00:38:33,080 --> 00:38:35,560 Speaker 1: It's time for the Bloomberg Law Report. Let's get to 679 00:38:35,600 --> 00:38:38,440 Speaker 1: the legal stories we are watching this morning. From Bloomberg's 680 00:38:38,520 --> 00:38:44,839 Speaker 1: Jeff Bellinger, the Postal Service has evaded claims that it's 681 00:38:44,920 --> 00:38:49,160 Speaker 1: use of facial recognition software without a privacy impact assessment 682 00:38:49,360 --> 00:38:52,919 Speaker 1: violated the federal law. Ralph Lauren will have to face 683 00:38:53,000 --> 00:38:56,680 Speaker 1: biometric privacy claims brought by an employee who says the 684 00:38:56,719 --> 00:38:59,520 Speaker 1: practice of requiring workers to clock in and doubt with 685 00:38:59,600 --> 00:39:04,080 Speaker 1: their finger prints violates the Illinois Biometric Information privacy and 686 00:39:04,800 --> 00:39:08,320 Speaker 1: the Coca Cola company officially walked away from race based 687 00:39:08,360 --> 00:39:11,680 Speaker 1: staffing requirements for law firms doing work for the company 688 00:39:12,000 --> 00:39:16,840 Speaker 1: Bloomberg Law. Everything you need, all on one legal research platform, 689 00:39:17,000 --> 00:39:21,359 Speaker 1: including guidance and analysis and Bloomberg Market Intelligence. Find out 690 00:39:21,440 --> 00:39:25,200 Speaker 1: more at Bloomberg Law dot com. All right, Jeff, thank 691 00:39:25,239 --> 00:39:27,640 Speaker 1: you now. Another legal story we're watching brings us to 692 00:39:27,920 --> 00:39:31,919 Speaker 1: vaccination requirements in the military. I divided Supreme Court said 693 00:39:31,920 --> 00:39:34,680 Speaker 1: the Navy can limit deployment and training for thirty five 694 00:39:34,800 --> 00:39:38,200 Speaker 1: seals and other special operations forces who are refusing to 695 00:39:38,280 --> 00:39:42,560 Speaker 1: get vaccinated against COVID nineteen. They cite religious grounds. A 696 00:39:42,640 --> 00:39:45,360 Speaker 1: lower court judge had ordered the Navy to deploy sailors 697 00:39:45,440 --> 00:39:48,359 Speaker 1: without regard to their vaccination status, but the White House 698 00:39:48,400 --> 00:39:52,200 Speaker 1: said that would jeopardize safety and mission success given that 699 00:39:52,400 --> 00:39:55,960 Speaker 1: seals often operate in tight quarters. The Court granted the 700 00:39:56,040 --> 00:40:00,520 Speaker 1: Boden administration's emergency request with three conservative justices is senting 701 00:40:00,920 --> 00:40:03,360 Speaker 1: for more in the case. Bloomberge during Grass speaks to 702 00:40:03,480 --> 00:40:07,200 Speaker 1: Dorit Reece, a professor at the University of California Hastings 703 00:40:07,280 --> 00:40:10,000 Speaker 1: College of Law. There was no opinion for the court. 704 00:40:10,440 --> 00:40:13,239 Speaker 1: Does the concurring opinion of Justice Brett Kavanagh tell us 705 00:40:13,280 --> 00:40:16,680 Speaker 1: anything he actually does. First of all, it's very usual 706 00:40:17,080 --> 00:40:20,279 Speaker 1: not to have a fully reasoned opinion on this kind 707 00:40:20,360 --> 00:40:24,000 Speaker 1: of emergency state cases. As a reminder, the case hasn't 708 00:40:24,040 --> 00:40:27,520 Speaker 1: been fully briefed or decided, and the question is should 709 00:40:27,600 --> 00:40:32,080 Speaker 1: we uphold or overturn an emergency state? The concurrence tells 710 00:40:32,200 --> 00:40:34,640 Speaker 1: us that for at least some of the justices the 711 00:40:34,680 --> 00:40:37,239 Speaker 1: main issue was how much difference to give to the 712 00:40:37,360 --> 00:40:39,920 Speaker 1: Navy decisions through the deploy The court has a long 713 00:40:40,000 --> 00:40:44,080 Speaker 1: tradition of deferring to the Navy judgment in the military's judgment, 714 00:40:44,480 --> 00:40:47,719 Speaker 1: as the Justice Cavano highlighted, and at least for some 715 00:40:47,840 --> 00:40:49,920 Speaker 1: of the this is that's probably the issue here as well. 716 00:40:50,200 --> 00:40:54,120 Speaker 1: A Secretary of Defense, Lloyd Austin, had urged the court 717 00:40:54,239 --> 00:40:58,480 Speaker 1: to remedy what he called an extraordinary and unprecedented intrusion 718 00:40:58,560 --> 00:41:03,120 Speaker 1: into core military hairs that has no precedent in American history. 719 00:41:03,680 --> 00:41:08,000 Speaker 1: Is this basically about the principle of separation of powers? Yes. 720 00:41:08,520 --> 00:41:11,080 Speaker 1: I will add that there are some things in the 721 00:41:11,480 --> 00:41:16,600 Speaker 1: descent that do race questions. So the military acknowledges that 722 00:41:16,680 --> 00:41:20,000 Speaker 1: there are subjects to the Religious Freedom Restoration Act requirements 723 00:41:20,320 --> 00:41:23,840 Speaker 1: of only not respecting religious interests when it's a compelling 724 00:41:23,920 --> 00:41:26,440 Speaker 1: interest in the list restrictive means, they still to have 725 00:41:26,600 --> 00:41:29,560 Speaker 1: made it practically impossible to get a religious exemption and 726 00:41:29,880 --> 00:41:32,200 Speaker 1: justice a little is right within any other context that 727 00:41:32,239 --> 00:41:35,400 Speaker 1: would be seen as a problem as bad space application 728 00:41:35,440 --> 00:41:40,759 Speaker 1: of religious exemption. And here too, by doing it so aggressively, 729 00:41:41,320 --> 00:41:45,760 Speaker 1: the military created an appearance of not really taking seriously 730 00:41:45,840 --> 00:41:50,040 Speaker 1: the religious exemptions, and as doored Race, a professor at 731 00:41:50,080 --> 00:41:53,480 Speaker 1: the University of California Hastings College of Laws, making at 732 00:41:53,480 --> 00:41:56,600 Speaker 1: the Bloomberg's doing Groszo. Catch more of that interview, plus 733 00:41:56,600 --> 00:41:59,440 Speaker 1: analysis of the latest legal news, by subscribing to the 734 00:41:59,480 --> 00:42:03,040 Speaker 1: Bloomberg Podcast or downloading the show at Bloomberg dot com 735 00:42:03,160 --> 00:42:07,000 Speaker 1: slash podcast. Attorneys can find exceptional legal research and business 736 00:42:07,040 --> 00:42:09,800 Speaker 1: development tools at Bloomberg Law dot com and on the 737 00:42:09,840 --> 00:42:14,040 Speaker 1: Bloomberg terminal at b Law. Go again. Futures this morning 738 00:42:14,160 --> 00:42:17,800 Speaker 1: are on the rise, SMP futures are up twenty points 739 00:42:17,920 --> 00:42:21,480 Speaker 1: down futures of one forty five and NASDAC future is 740 00:42:21,560 --> 00:42:24,960 Speaker 1: up sixty eight. Ten year treasury down fourteen thirty seconds 741 00:42:25,080 --> 00:42:27,480 Speaker 1: yield two point five one per cent, and they yield 742 00:42:27,520 --> 00:42:31,000 Speaker 1: on the two year two point for three percent Nimex 743 00:42:31,000 --> 00:42:33,560 Speaker 1: screwed oil is up to ten per cent er nineteen 744 00:42:33,640 --> 00:42:36,400 Speaker 1: cents and a hundred six dollars seventeen cents in barrel, 745 00:42:37,360 --> 00:42:40,360 Speaker 1: and it's still ahead. On Bloomberg day Break, we have 746 00:42:40,440 --> 00:42:42,799 Speaker 1: a check on the business headlines and all the news 747 00:42:42,920 --> 00:42:46,480 Speaker 1: you need to start your day. And this is Bloomberg.