WEBVTT - Bloomberg Daybreak: March 29, 2022 - Hour 1 (Radio) 0:00:03.120 --> 0:00:06.640 Live from the Bloomberg Interactor Berger Studios is Bloomberg day 0:00:06.640 --> 0:00:10.360 Break for Tuesday, March twenty nine two. Coming up this hour, 0:00:10.600 --> 0:00:14.600 peace talks between Russia and Ukraine restart today. President Biden 0:00:14.640 --> 0:00:18.480 clarifies his her marks on Vladimir Plutin, billionaires in private equity, 0:00:18.560 --> 0:00:21.360 Gurdford tax nikes from the White House, and bankers in 0:00:21.480 --> 0:00:25.840 Hong Kong's scope raises and promotions. New York Mayor Eric 0:00:25.880 --> 0:00:28.960 Adams is slamming Florida's new Don't Say Gay bill, Plus 0:00:29.040 --> 0:00:33.040 the January sixth penal recommends holding two Trump aids in contempt. 0:00:33.479 --> 0:00:37.160 Michael Barr More ahead, I'm John stashwon sports. The Knicks 0:00:37.159 --> 0:00:39.680 beat the Bulls at the Garden. The Yukon women won 0:00:39.760 --> 0:00:44.320 in double overtime to advance to the final board. That's 0:00:44.320 --> 0:00:48.640 all straight ahead on Bloomberg day Break on Bloomberg Eliving Trio, 0:00:48.760 --> 0:00:54.080 New York, Bloomberg Washington, d C, Bloomberg one O six one, Boston, 0:00:54.240 --> 0:00:58.760 Bloomberg nine sixties, San Francisco, Sirius x M one nineteen 0:00:59.120 --> 0:01:01.840 and around the world. Old on Bloomberg Radio dot Com 0:01:01.960 --> 0:01:08.440 and via the Bloomberg Business Set. Good morning, I'm Nathan 0:01:08.520 --> 0:01:11.960 Hagar and I'm Karen. Moscow and US futures are higher 0:01:12.000 --> 0:01:14.039 this morning. We're coming up to five oh one on 0:01:14.080 --> 0:01:16.360 Wall Street, and we checked the markets every fifteen minutes 0:01:16.360 --> 0:01:19.800 throughout the trading day. On Bloomberg, SNP Future is up 0:01:19.840 --> 0:01:23.200 thirteen points down, futures up ninety four NASDAC Future is 0:01:23.280 --> 0:01:26.360 up thirty two. The decks in Germany's at one point 0:01:26.400 --> 0:01:30.119 two percent. Ten year treasury down eleven thirty seconds, yield 0:01:30.160 --> 0:01:32.600 two point five percent. The yield on the two year 0:01:32.680 --> 0:01:35.880 two point four one percent. Nim X screut oil is 0:01:35.959 --> 0:01:38.560 up one point one percent, up a dollar eleven and 0:01:38.640 --> 0:01:41.280 a hundred seven dollars four cents of barrel, and the 0:01:41.400 --> 0:01:45.040 euro one point oh nine eight one against the dollar. Nathan, Karen, 0:01:45.040 --> 0:01:46.840 we begin this morning with the latest on the war 0:01:46.959 --> 0:01:49.800 in Eastern Europe. Ukraine is looking for a cease fire 0:01:49.840 --> 0:01:53.200 agreement in talks with Russia negotiators. Today we get the 0:01:53.280 --> 0:01:57.200 very latest from Bloomberg International Affairs reporter Mark Champion is 0:01:57.320 --> 0:02:01.600 exchanged for the ceasefire is less clear and the sequencing 0:02:01.640 --> 0:02:03.760 would be quite difficult because at the moment what the 0:02:03.840 --> 0:02:07.520 Ukrainians are talking about is able to agree to neutrality. 0:02:08.000 --> 0:02:11.720 In exchange from neutrality, there would be security guarantees from 0:02:12.000 --> 0:02:16.320 other Western countries, similar to NATO's Article five. You know, 0:02:16.360 --> 0:02:18.519 all that would have to be agreed in a referendum 0:02:18.560 --> 0:02:21.399 that would take a year. So how that all gets 0:02:21.440 --> 0:02:25.000 sequences extremely difficult to understand. What would be the borders 0:02:25.040 --> 0:02:28.200 that were being guaranteed by these guaranteurs in the West 0:02:28.320 --> 0:02:31.600 is difficult to understand at that point. Bloomberg's Mark Champion 0:02:31.639 --> 0:02:35.120 reports talks are underway in Turkey. President Urdiwan is telling 0:02:35.120 --> 0:02:38.640 the Ukrainian and Russian delegations he expects quote good news 0:02:38.880 --> 0:02:42.519 from the meeting. Meantime, Nathan Russia appears to be making 0:02:42.560 --> 0:02:45.040 good on it's a debt. Moscow says it made it 0:02:45.120 --> 0:02:47.760 more than a hundred million dollar interest payment on its 0:02:47.800 --> 0:02:51.640 foreign bonds. Despite financial isolation in the face of warnings 0:02:51.680 --> 0:02:54.880 from credit rating agencies, the government has so far sidestepped 0:02:54.880 --> 0:02:56.799 to default. Back Here in the U s care and 0:02:56.840 --> 0:03:00.640 President Biden is clarifying his remarks on Vladimir Putin. He 0:03:00.680 --> 0:03:03.760 says the US is not seeking to remove the Russian president, 0:03:04.000 --> 0:03:07.200 but he does have the right to express concern. Bloomberg's 0:03:07.200 --> 0:03:10.359 At Baxter has the story. The President says he's not 0:03:10.480 --> 0:03:13.120 planning regime change in Russia, but has the right to 0:03:13.200 --> 0:03:16.520 express his opinion. I was expressing my outrage as the 0:03:16.600 --> 0:03:23.359 behavior this man. It's outrageous. It's outrageous, and it's more 0:03:23.440 --> 0:03:26.720 an aspiration, and he shouldn't be in power. There's no 0:03:26.840 --> 0:03:29.400 I mean, people like this shouldn't be ruling countries. But 0:03:29.440 --> 0:03:31.919 they do. The fact they do, but does mean I 0:03:32.000 --> 0:03:34.800 can't express my outrage about it. And NATO is having 0:03:34.880 --> 0:03:37.880 its debate about talking directly with Putins some countries saying 0:03:37.880 --> 0:03:41.080 before any talks, there has to be a ceasefire in Ukraine. 0:03:41.400 --> 0:03:44.520 In San Francisco, I'm at Baxter Bloomberg Daybreak and thank 0:03:44.560 --> 0:03:47.320 you now. An update on President Biden's agenda back home. 0:03:47.440 --> 0:03:49.880 The White House is doubling down on efforts to overhaul 0:03:49.920 --> 0:03:52.280 the tax code. It's looking to get more money from 0:03:52.280 --> 0:03:56.360 the wealthiest households and largest companies. Amy Morris has details 0:03:56.360 --> 0:04:00.360 from our Bloomberg newsroom in Washington. President by and says 0:04:00.400 --> 0:04:02.640 his plan is designed to chip away at the deficit 0:04:02.720 --> 0:04:06.680 run up by the Trump administration. Track cut the deficit 0:04:06.760 --> 0:04:11.200 by more than one trillion, three hundred billion dollars that 0:04:11.200 --> 0:04:15.000 would be the largest one year reduction and deficit in history. 0:04:15.160 --> 0:04:17.080 Part of that would be funded through a minimum tax 0:04:17.120 --> 0:04:20.880 on mega millionaires and billionaires, including on their unrealized gains, 0:04:20.960 --> 0:04:23.880 raising an estimated three hundred sixty billion dollars over a 0:04:23.960 --> 0:04:28.039 decade from roughly the wealthiest twenty thousand households in the country. 0:04:28.360 --> 0:04:32.120 But it faces opposition in Congress, and not just from Republicans. 0:04:32.120 --> 0:04:35.000 The billionaire tax is also a key fault line between 0:04:35.000 --> 0:04:38.839 moderate Democrats and progressives. White House advisors are now talking 0:04:38.880 --> 0:04:41.719 with wallmakers about how to win support for the tax 0:04:41.760 --> 0:04:46.040 proposal in Washington. I'm anymore as Bloomberg Daybreak, thanks Amy. Meantime, 0:04:46.080 --> 0:04:48.520 the Senate has passed a measure to help US tech company. 0:04:48.600 --> 0:04:51.120 Senators passed their version of a longstalled bill to help 0:04:51.160 --> 0:04:54.800 the U S semiconductor industry and boost competitiveness with China. 0:04:54.920 --> 0:04:57.760 That sets the stage for negotiations with the House, which 0:04:57.760 --> 0:05:00.919 passed its own version. The measure includes fifty billion dollars 0:05:01.080 --> 0:05:03.960 to boost chip manufacturing. All right, let's turn to the 0:05:04.000 --> 0:05:06.960 markets now. Nathan and a few companies making headlines this 0:05:07.000 --> 0:05:10.000 morning Bloomberg. John Tucker joins US Live with the latest. 0:05:10.040 --> 0:05:12.640 Good morning, John, Good morning, Carol. Let's start out with FedEx. 0:05:12.680 --> 0:05:17.479 The packet shipping company named Rod Subramanian as its new CEO. 0:05:17.600 --> 0:05:20.080 He takes the reins from seventy seven year old founder 0:05:20.120 --> 0:05:23.640 Fred Smith, who pioneered express delivery almost fifty years ago. 0:05:24.240 --> 0:05:26.159 Smith had been in the midst of the campaign to 0:05:26.200 --> 0:05:30.360 overhaul the company to stem declining profit margins. Meantime, Amazon 0:05:30.400 --> 0:05:33.000 has become the first mega cap tech dot to erase 0:05:33.120 --> 0:05:35.719 losses for the year. Shares are now at one point 0:05:35.800 --> 0:05:38.160 four percent of the year, after having dropped more than 0:05:38.320 --> 0:05:41.400 eighteen percent earlier this month. And also of note this 0:05:41.440 --> 0:05:45.279 morning meme favorite game Stop rose for a tenth consecutive 0:05:45.279 --> 0:05:48.599 session yesterday. That gives the stock its longest winning streaks 0:05:48.600 --> 0:05:54.560 since April of It's up a staggering one or over 0:05:54.600 --> 0:05:57.440 the past two weeks. Live in New York, I'm John Tucker, 0:05:57.440 --> 0:05:59.960 Bloomberg Daybreak and John in London. This morning. Shares a 0:06:00.120 --> 0:06:03.680 Barclays are down three and two thirds percent after a 0:06:03.720 --> 0:06:06.880 shareholders sold about one point two billion dollars of stock. 0:06:07.120 --> 0:06:09.839 The sale came a day after Barclays revealed a costly 0:06:09.920 --> 0:06:12.600 blunder and how it sold billions of dollars in securities. 0:06:12.760 --> 0:06:16.159 The identity of the Barclay seller was not disclosed. Meantime, 0:06:16.160 --> 0:06:19.040 in Hong Kong, Nathan, the outlook for bangers is looking up. 0:06:19.120 --> 0:06:22.039 The city has seen an exodus of finance staff, but 0:06:22.160 --> 0:06:25.280 those that state are getting rewarded. Blumbergs you need a 0:06:25.320 --> 0:06:27.600 young joints ups live with the details. Good morning Renny Down, 0:06:27.640 --> 0:06:30.280 Good morning Karen. For tech savvy workers willing to live 0:06:30.320 --> 0:06:33.200 in a city largely isolated from the rest of the world, 0:06:33.440 --> 0:06:37.600 opportunities like big promotions and big pay increases are plentiful, 0:06:37.880 --> 0:06:41.400 at least in the short term. Typically, finance workers heading 0:06:41.440 --> 0:06:43.880 to a different company in Hong Kong would get about 0:06:43.880 --> 0:06:47.200 a fifteen percent pay hike, but executive search firm E 0:06:47.400 --> 0:06:51.800 s d I says they're seeing twenty to thirty increases. Meantime, 0:06:51.880 --> 0:06:54.520 government data show the number of new visas issued to 0:06:54.680 --> 0:06:58.440 foreign financial service workers in Hong Kong fell last year, 0:06:58.720 --> 0:07:02.320 down almost fifty per sent from eighteen and that was 0:07:02.400 --> 0:07:07.120 before the Omicron variant prompted more lockdowns. Live in New York, 0:07:07.160 --> 0:07:09.360 I'm gonna need a young Bloomberg day break, Okay, we 0:07:09.440 --> 0:07:12.320 need to thanks SMP futures up fourteen points staff features 0:07:12.360 --> 0:07:15.200 up a hundred eleven, nastack futures up thirty five points, 0:07:15.240 --> 0:07:18.200 straight ahead, your latest local headlines, and a check of sports. 0:07:18.200 --> 0:07:24.440 This is Bloomberg. That's up five oh seven on Wall 0:07:24.440 --> 0:07:26.840 Street where twenty five degrees in Central Park got start 0:07:26.960 --> 0:07:29.520 so far on the bridges and tunnels. Will check traffic 0:07:29.560 --> 0:07:31.920 in just a few minutes. First, Michael Bars here with 0:07:31.960 --> 0:07:33.920 what else is going on in New York and around 0:07:33.960 --> 0:07:36.360 the world. Good morning, Michael, Good morning Nathan. New York 0:07:36.400 --> 0:07:40.600 City Mayor Eric Adams is denouncing Florida's controversial Don't Say 0:07:40.720 --> 0:07:43.680 Gay bill. In signing the bill, Florida Governor Rond De 0:07:43.760 --> 0:07:48.400 Santis says the legislation forbids instruction on sensual orientation and 0:07:48.480 --> 0:07:52.880 gender identity in kindergarten through third grade in Florida. We 0:07:52.960 --> 0:07:55.840 not only know that parents have a right to be involved, 0:07:56.600 --> 0:07:59.240 we insist that parents have a right to be involved. 0:08:01.040 --> 0:08:05.960 Joe Saunders with the LGBTQ advocacy group Equality Florida said 0:08:05.960 --> 0:08:09.160 the Santis has set the state back decades. Governor De 0:08:09.200 --> 0:08:12.440 Santis has damaged our state's reputation as a welcoming and 0:08:12.480 --> 0:08:14.960 inclusive place for all families. He has made us a 0:08:15.040 --> 0:08:18.920 laughing stock and a target of national derision. Worst he 0:08:19.000 --> 0:08:23.520 has made schools less safe for children. New York Mayor 0:08:23.560 --> 0:08:26.640 Adams called the bill hateful and harmful, saying on social 0:08:26.640 --> 0:08:29.240 media to the families living in fear of this state 0:08:29.320 --> 0:08:33.240 sponsored discrimination, You're welcome in New York City. Our arms 0:08:33.320 --> 0:08:37.079 and hearts are wine open. The House Committee voted unanimously 0:08:37.200 --> 0:08:41.080 last night to recommend contempt citations against two of former 0:08:41.120 --> 0:08:44.800 President Trump's White House advisors for it defying subpoenas to 0:08:44.880 --> 0:08:48.400 testify into last year's riot at the US Capitol. The 0:08:48.440 --> 0:08:53.200 panel name former aides Nan Scovino and Peter Navarro. Congresswoman 0:08:53.360 --> 0:08:56.680 Liz Cheney, the top Republican on the Selective Committee, said 0:08:56.720 --> 0:08:59.960 anyone who participated in the January six efford should be 0:09:00.040 --> 0:09:04.720 held accountable. As a federal judge concluded today, the illegality 0:09:04.760 --> 0:09:09.319 of President Trump's plan for January six was quote obvious. 0:09:10.080 --> 0:09:13.480 Cheney was referring to U. S District Judge David Carter, writing, 0:09:13.840 --> 0:09:17.240 the court finds it more likely than not that President 0:09:17.240 --> 0:09:20.680 Trump corruptly attempted to obstruct the Joint Session of Congress 0:09:20.920 --> 0:09:25.200 on January one. The founder of Sittledale is giving forty 0:09:25.240 --> 0:09:28.840 million dollars to New York City's American Museum of Natural History. 0:09:29.120 --> 0:09:32.040 The donation is part of the three forty million dollars 0:09:32.160 --> 0:09:35.520 raised so far for the Richard Gilder Center for Science, 0:09:35.640 --> 0:09:38.800 Education and Innovation, which is set to open sometime late 0:09:38.960 --> 0:09:44.360 between two and early three. Actor Will Smith apologized to 0:09:44.400 --> 0:09:47.319 Chris Rock after he slapped the comedian at the Oscar 0:09:47.360 --> 0:09:50.680 Sunday night. Meanwhile, the Academy of Motion Pictures, Arts and 0:09:50.720 --> 0:09:54.920 Sciences opened a formal review of Smith's behavior. Global News 0:09:54.920 --> 0:09:58.160 twenty four hours a day on air and on Bloomberg Quicktake, 0:09:58.400 --> 0:10:01.840 powered by more than having under journalist analysts in more 0:10:01.840 --> 0:10:04.520 than a hundred twenty countries. On Michael Bard, This is Bloomberg, 0:10:04.600 --> 0:10:11.280 Nathan Michael, thank you. Coming up to five ten on 0:10:11.320 --> 0:10:13.839 Wall Street time for the Bloomberg Sports Update. Good morning, 0:10:13.920 --> 0:10:15.880 John Sesshion, Good morning eight. And it's hard to make 0:10:15.880 --> 0:10:18.480 the NBA playoffs when you win only one game in 0:10:18.559 --> 0:10:20.640 the month of February like the next day, and the 0:10:20.679 --> 0:10:22.959 Nicks are almost certainly not going to make it four 0:10:23.000 --> 0:10:24.520 and a half games behind, but they had one four 0:10:24.559 --> 0:10:26.080 in a row for the first time all year. They 0:10:26.080 --> 0:10:28.400 came from twelve down beat Chicago with the Garden one 0:10:28.400 --> 0:10:30.880 oh nine, one oh four, R. J. Barrett with twenty 0:10:30.960 --> 0:10:33.800 eight points, Alley first twenty seven to margin Rosenport in 0:10:33.920 --> 0:10:36.360 thirty seven for the Bulls. Nets Home tonight for Detroit 0:10:36.720 --> 0:10:39.280 Rangers are in Pittsburgh n C Double A Women's tournament 0:10:39.280 --> 0:10:44.320 double overtime in Bridgeport, Yukon b n C State seven. 0:10:44.360 --> 0:10:47.560 Reactions from the coach Gino Oriema and the star player 0:10:47.640 --> 0:10:51.959 Paige Beckers. This is one of the best games I've 0:10:51.960 --> 0:10:56.000 ever been a part of UM since I've been in 0:10:56.080 --> 0:11:00.320 the time. The regular season, postseason, doesn't really matter. It 0:11:00.400 --> 0:11:02.960 was just a lot of fun and playing two very 0:11:02.960 --> 0:11:06.600 competitive teams. My coach said, just playing for our lives 0:11:06.600 --> 0:11:09.600 at that point, and we found a way to win 0:11:09.760 --> 0:11:13.640 and stuck together and we stay composed in Yeah, I'm 0:11:13.640 --> 0:11:15.680 just it was really exciting team for sure. So you 0:11:15.720 --> 0:11:17.200 kind of go to the Women's Final four for the 0:11:17.240 --> 0:11:19.600 twenty second time under Ori e m they've don their 0:11:19.640 --> 0:11:22.800 fourteen years in a row. The jetson Son Freegan defensive 0:11:22.840 --> 0:11:25.680 lineman Salomon Thomas, once the third overall pick of the draft, 0:11:25.720 --> 0:11:28.360 he played for Jets coach Robert Sala when Sale coach 0:11:28.400 --> 0:11:31.000 the forty Niners Defense Giants. G M Joe Shane says 0:11:31.000 --> 0:11:33.319 he has not initiated any trade. Tops were going to 0:11:33.360 --> 0:11:36.679 st Kuon Barkley. NFL owners are meaning they're considering a 0:11:36.800 --> 0:11:38.959 change in overtime rules where both teams would be short 0:11:39.000 --> 0:11:42.040 of a possession. Baseball forty two year old Albert Poole 0:11:42.080 --> 0:11:44.200 says this will be his final season. He's spending it 0:11:44.240 --> 0:11:46.640 with the team he used to start for. Tho St. 0:11:46.679 --> 0:11:50.720 Louis Cardios, John Stashward, Bloomberg SPOSI, thanks John SMP futures 0:11:50.760 --> 0:11:53.640 up twenty points, Staff futures up Huddy six, n SECT 0:11:53.679 --> 0:11:56.480 futures hired by fifty nine points ten. Your treasury yield 0:11:56.480 --> 0:11:58.280 two point five one per cent the yield on the 0:11:58.320 --> 0:12:01.840 two year two point four two spread of eight basis points. 0:12:02.160 --> 0:12:09.439 You're listening to Bloomberg day Break Bloomberg eleven three oh Weather, sunny, breezy, 0:12:09.520 --> 0:12:12.400 high only near forty today, chance for midday rain or 0:12:12.520 --> 0:12:15.480 snow tomorrow. Otherwise scattered afternoon showers with highs in the 0:12:15.480 --> 0:12:18.360 mid forties. Will be near seventy by Thursday. Right now 0:12:18.240 --> 0:12:24.360 twenty five in Central Park Markets, headlines and breaking news 0:12:24.480 --> 0:12:27.079 twenty four hours a day at Bloomberg dot Com, the 0:12:27.120 --> 0:12:31.239 Bloomberg Business Outland. At Bloomberg Quick Tape, He's a Bloomberg 0:12:31.320 --> 0:12:40.880 business lash and I'm Cameron. Moscow stocks are rising as 0:12:40.920 --> 0:12:44.880 ceasefire talks between Russia and Ukraine helped to fuel risk appetite. 0:12:45.000 --> 0:12:48.280 U West Dock Index futures also gaining after benchmark indexes 0:12:48.400 --> 0:12:51.440 rose for a third session yesterday. We checked the markets 0:12:51.440 --> 0:12:54.520 every fifteen minutes throughout the trading day on Bloomberg S 0:12:54.600 --> 0:12:58.000 and P futures up twenty points now futures about hundred 0:12:58.040 --> 0:13:01.800 forty three nasday futures up sixty The decks in Germany's 0:13:01.880 --> 0:13:04.640 up win in three quarters per cent ten Your treasury 0:13:04.640 --> 0:13:07.560 down fourteen thirty seconds, yeld two point five one percent, 0:13:07.679 --> 0:13:10.440 the yield on the two year two point four two percent. 0:13:10.920 --> 0:13:13.559 Nine X Screwed oil is down four tenths percent, or 0:13:13.600 --> 0:13:15.880 forty three cents at a hundred five dollars sixty three 0:13:15.880 --> 0:13:19.040 cents of barrel comes goold down one and a half percent, 0:13:19.080 --> 0:13:22.000 down twenty nine dollars thirty cents. In nineteen fifteen, forty 0:13:22.000 --> 0:13:25.000 announced the euro one point one zero to six against 0:13:25.040 --> 0:13:27.560 the dollar. British bound one point three zero eight nine 0:13:27.800 --> 0:13:31.679 and the enit on three point six four bitcoin in 0:13:31.760 --> 0:13:36.080 this morning moving lower down half percent at forty seven thousand, 0:13:36.120 --> 0:13:39.280 seven hundred thirty dollars. That's a Bloomberg business flash. Now 0:13:39.320 --> 0:13:42.520 here's Michael Barr with more unless going on around the world, mouncle, 0:13:42.559 --> 0:13:45.040 Good morning, Good morning Karen. More than a month after 0:13:45.120 --> 0:13:50.160 Russia invaded Ukraine, the two nations resumed negotiations toward a ceasefire. 0:13:50.200 --> 0:13:53.320 Today to sit down is taking place over three days 0:13:53.320 --> 0:13:57.320 at instant Bul. Ukrainian President Voladimir Zelenski says this country 0:13:57.360 --> 0:14:02.040 would consider a neutrality agreement to achieve peace. Shanghai beefed 0:14:02.120 --> 0:14:05.160 up lockdown restrictions for people residing in the eastern half 0:14:05.160 --> 0:14:08.520 of the city, barring everyone from leaving their homes even 0:14:08.520 --> 0:14:12.599 to walk their dogs. Record local daily COVID nineteen infections 0:14:12.679 --> 0:14:16.080 jumped today to close to forty eight hundred. In the NBA, 0:14:16.240 --> 0:14:19.080 the next one, the Celtics and Warriors lost. Yukon is 0:14:19.120 --> 0:14:21.360 heading back to the Women's n C Double A Final 0:14:21.440 --> 0:14:24.200 four for the fourteenth straight time, the Huskies beating North 0:14:24.240 --> 0:14:28.200 Carolina State and double overtime. Yukon will face Stanford Louisville 0:14:28.320 --> 0:14:30.960 is also when they'll face South Carolina in the NHL. 0:14:31.000 --> 0:14:33.640 The Capital's Lost. Global news twenty four hours a day 0:14:33.640 --> 0:14:36.960 on air and on Bloomberg Quickdake, powered by more than 0:14:37.040 --> 0:14:40.400 twenty seven hundred journalists an analysts more than hundred twenty countries. 0:14:40.680 --> 0:14:44.120 Michael Barr, This is Bloomberg. Nathan. Okay, Michael. Thanks, It's 0:14:44.160 --> 0:14:47.080 five nineteen on Wall Street Live from the Bloomberg Interactive 0:14:47.120 --> 0:14:50.920 Brokers studios. This is Bloomberg Daybreak and Mark Champion is 0:14:50.920 --> 0:14:53.920 with us now Bloomberg News, Senior reporter for International Affairs. 0:14:53.960 --> 0:14:57.840 As we continue to monitor these uh ceasefire talks just 0:14:58.040 --> 0:15:01.240 now really getting underway in his stand ball between Ukraine 0:15:01.240 --> 0:15:04.680 and Russia. Mark, good morning. Obviously, as I was saying, 0:15:04.760 --> 0:15:07.600 they're just getting underway here. But what were the expectations 0:15:07.640 --> 0:15:11.520 heading into these discussions. Well, it's the first time in 0:15:11.600 --> 0:15:14.440 two weeks, so that's a that's a plus right there. 0:15:15.160 --> 0:15:17.960 But on both sides, they've been sort of talking it 0:15:18.000 --> 0:15:20.880 down a little bit. On the Russian side that said 0:15:21.080 --> 0:15:26.560 there have been no breakthroughs, nothing to really change the game. 0:15:27.400 --> 0:15:31.560 On the Ukrainian side a little bit more optimism, but 0:15:31.600 --> 0:15:35.800 they also have said there's a lot of detail for 0:15:35.880 --> 0:15:39.520 every point that they have in principle agreed, there's a 0:15:39.520 --> 0:15:42.920 lot of detail for each point that hasn't been um. 0:15:42.960 --> 0:15:45.400 And the key issue really is that you've got to 0:15:46.440 --> 0:15:49.720 uh kind of time scales for things to agree. The 0:15:49.800 --> 0:15:53.160 first is on a cease fire, where the Ukrainians say 0:15:53.200 --> 0:15:56.280 that kind of minimum goal is just an improvement humanitarian 0:15:56.360 --> 0:16:00.120 situation to stop the killing essentially, um. And then you 0:16:00.240 --> 0:16:03.320 have a peace settlement, which includes all kinds of things 0:16:03.360 --> 0:16:08.400 like territorial agreements, who owns what? And also you know, 0:16:08.440 --> 0:16:11.800 when do the Russian troops withdraw? All these things make 0:16:11.880 --> 0:16:15.400 for quite a complicated puzzle. Um. So there's a lot 0:16:15.440 --> 0:16:17.920 to get through. Yeah, puzzle that sounds like it would 0:16:17.920 --> 0:16:20.560 take weeks, if not months to get through. But is 0:16:20.600 --> 0:16:24.040 the expectation then that a cease fire would have to 0:16:24.120 --> 0:16:26.800 be in place and holding before they could get to 0:16:26.880 --> 0:16:31.760 those broader discussions about a settlement. Well that's that's the 0:16:31.800 --> 0:16:34.640 hard part. So you know, ideally what Ukraine would like 0:16:34.800 --> 0:16:37.480 is just a cease fire, uh, you know, with no 0:16:37.960 --> 0:16:43.480 attached requirements. But it sounds like there has to be 0:16:43.560 --> 0:16:47.640 some sort of agreement on neutrality where you know, the 0:16:47.720 --> 0:16:50.920 Russians will agree to a cease fire, but we don't 0:16:50.960 --> 0:16:53.880 know exactly when they would agree to pull their troops out. 0:16:54.360 --> 0:16:56.520 But the de cease fire, they're looking for some agreement 0:16:56.560 --> 0:17:00.320 on neutrality. Um Zaniansky says he's open to that. President 0:17:00.360 --> 0:17:03.400 Zelienski of Ukraine says he's open to it, but at 0:17:03.440 --> 0:17:07.840 the same time that, you know, he would need security 0:17:07.880 --> 0:17:13.960 guarantees from Western countries similar to NATO Article five. It's 0:17:14.000 --> 0:17:17.240 you know, that seems rather difficult for Russia to accept, 0:17:17.280 --> 0:17:20.280 which is very opposed to any kind of NATO membership, 0:17:20.600 --> 0:17:24.760 So we kind of ASA's NATO security guarantee would be 0:17:24.800 --> 0:17:28.159 difficult to swallow. Um And also for those countries, it 0:17:28.160 --> 0:17:31.480 would be difficult to know what they are guaranteeing at 0:17:31.480 --> 0:17:37.400 a time when no agreement exists on boorders. Zelienski also 0:17:37.400 --> 0:17:39.600 says there has to be a referendum, which would take 0:17:39.600 --> 0:17:43.159 a year on any of that kind of agreement, So 0:17:43.240 --> 0:17:46.080 you can see the sequencing is quite difficult. Yeah, And 0:17:46.119 --> 0:17:47.760 it sounds as though there may be a little bit 0:17:47.760 --> 0:17:50.639 of contradiction there, or maybe I'm really get wrong with 0:17:50.720 --> 0:17:54.400 the idea that the Ukraine would agree to some kind 0:17:54.400 --> 0:17:57.680 of neutrality while at the same time calling for security 0:17:57.720 --> 0:18:02.040 guarantees along the lines of NATO. How is NATO reacting 0:18:02.119 --> 0:18:07.600 to what Ukraine is looking for here? Well, you know, 0:18:08.000 --> 0:18:13.080 NATO is rather split, um. So you have a group 0:18:13.160 --> 0:18:16.760 of countries, including the UK and most of the Eastern 0:18:16.760 --> 0:18:21.080 European countries, who are extremely skeptical of Russian intentions. They 0:18:21.119 --> 0:18:24.720 see the peace talks as a significant risk there that 0:18:24.800 --> 0:18:28.240 Russia is basically using them to regroup after a difficult 0:18:28.280 --> 0:18:32.560 campaign and doesn't really intend to give anything up in 0:18:32.680 --> 0:18:35.359 terms of its major goals. That on the ground, it 0:18:35.400 --> 0:18:40.040 continues to push for territorial gain um. And there are signs, 0:18:40.040 --> 0:18:43.760 you know, as they try and replace the Ukrainian Rivna 0:18:43.840 --> 0:18:47.000 with the Russian rouble in occupied areas that they you know, 0:18:47.040 --> 0:18:51.240 they're not planning to leave anytime soon. So there's a 0:18:51.240 --> 0:18:54.440 skeptical group, And on the other side there's France, Germany 0:18:54.480 --> 0:18:59.040 and various others who say, look, the first priority here 0:18:59.240 --> 0:19:02.160 is to get seas fire to stop the killing, um, 0:19:02.160 --> 0:19:04.840 and we should be open minded, open ended about what 0:19:04.960 --> 0:19:08.639 it takes to do that. These discussions are expected to 0:19:08.720 --> 0:19:13.639 last today into tomorrow, so we will continue monitoring them 0:19:13.680 --> 0:19:16.919 here on Bloomberg Radio in the meantime. Mark Champion thanks 0:19:16.920 --> 0:19:19.160 for keeping us updated on what's been happening so far. 0:19:19.280 --> 0:19:22.520 Mark Champion is a senior reporter for international affairs for 0:19:22.560 --> 0:19:26.240 Bloomberg News. Looking ahead to the market, open futures are 0:19:26.480 --> 0:19:31.080 moving a touch higher and yields are flattening the curve. 0:19:31.400 --> 0:19:34.480 SMP futures are up twenty two points down futures up 0:19:34.480 --> 0:19:37.359 a hundred fifty four. Nanzac futures are higher by eighty 0:19:37.400 --> 0:19:40.600 eight points. The tenure treasury is down thirteen thirty seconds, 0:19:40.600 --> 0:19:42.800 with the yield two point five zero percent yield on 0:19:42.880 --> 0:19:45.960 the two year two point four two to spread of 0:19:46.040 --> 0:19:49.560 almost eight basis points. Nimex crewd is down six tenths 0:19:49.560 --> 0:19:51.640 per cent, or sixty seven cents at a hundred five 0:19:51.680 --> 0:19:54.440 dollars thirty five cents of barrel comes gold right now 0:19:54.480 --> 0:19:57.600 down one point six percent, down thirty dollars sixty cents 0:19:57.640 --> 0:20:08.000 at nineteen thirty announced. You're listening to Bloomberg Daybreak Bloomberg 0:20:08.000 --> 0:20:10.200 eleven three oh Weather sunny, breezy, the high only near 0:20:10.280 --> 0:20:14.200 forty today, some midday rain. Afternoon rain showers possible tomorrow 0:20:14.240 --> 0:20:16.680 with highs in the mid forties. Could be near seventy 0:20:16.720 --> 0:20:23.640 by Thursday. Right now in Central Park, broadcasting live from 0:20:23.640 --> 0:20:27.480 the Bloomberg Interactive Broker Studio in New York. Bloomberg E 0:20:27.520 --> 0:20:30.560 Living Free on to Washington, d C, Bloomberg ninety nine 0:20:30.600 --> 0:20:34.119 one to Boston, Bloomberg one O six one to San Francisco, 0:20:34.200 --> 0:20:37.399 Bloomberg Nam sixty to the Country, Sirius XM to the 0:20:37.520 --> 0:20:40.840 one nine and around the globe the Bloomberg business in 0:20:40.920 --> 0:20:50.840 Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five 0:20:50.880 --> 0:20:53.320 thirty on Wall Street. Good morning. I'm Nathan Hagger and 0:20:53.359 --> 0:20:56.560 I'm Keren Moscow, and we're just about four hours away 0:20:56.640 --> 0:20:58.639 from the open of US trading. Let's get you up 0:20:58.640 --> 0:21:00.520 to date in the news you need to know this hour. 0:21:00.800 --> 0:21:04.320 Ukraine is looking for a ceasefire agreement and talk to 0:21:04.400 --> 0:21:08.120 the Russian negotiators. Their meeting right now in Turkey, where 0:21:08.160 --> 0:21:11.520 President er Tawan says he expects quote good news from 0:21:11.520 --> 0:21:14.760 the peace talks. The meantime, Karen, President Biden is clarifying 0:21:14.840 --> 0:21:17.679 his remarks on Vladimir Putin. He says the US is 0:21:17.760 --> 0:21:20.960 not seeking regime change in Russia, but that he still 0:21:21.040 --> 0:21:24.240 has the right to express concern. I was expressing my 0:21:24.400 --> 0:21:30.119 outrage at the behavior of this man. It's outrageous. It's outrageous, 0:21:30.800 --> 0:21:34.439 and it's more an aspiration, and he shouldn't be in power. 0:21:34.960 --> 0:21:37.960 There's no I mean, people like this shouldn't be ruling countries. 0:21:38.000 --> 0:21:40.520 But they do. The fact they do, but doesn't mean 0:21:40.560 --> 0:21:44.200 I can't express my outrage. President Biden is rejecting criticism 0:21:44.240 --> 0:21:48.200 that his comments escalated the situation with Russia. Meantime, Nathan, 0:21:48.240 --> 0:21:51.640 the President's budget is also in focus. He's renewing efforts 0:21:51.640 --> 0:21:55.360 to squeeze more tax revenue from big companies and wealthy households. 0:21:55.600 --> 0:21:58.240 His new budget calls for a two point five trillion 0:21:58.280 --> 0:22:00.960 dollars in tax hikes. Turning into markets now, we have 0:22:01.000 --> 0:22:04.280 several companies making headlines this morning. Let's get the details 0:22:04.280 --> 0:22:07.400 live with Bloomberg's John Tucker. What's watching, John, Nathan, Let's 0:22:07.400 --> 0:22:09.439 start with a change at the top. At fed X, 0:22:09.440 --> 0:22:12.520 the package delivery company is named roj Supermanni and Nance 0:22:12.600 --> 0:22:16.240 it's new CEO. He takes over from founder Fred Smith, 0:22:16.280 --> 0:22:20.040 who pioneered express delivery almost fifty years ago. Up next, 0:22:20.119 --> 0:22:23.000 let's talk Amazon. It's become the first mega cap tech 0:22:23.040 --> 0:22:26.320 stock to erase losses for the year. Shares are now 0:22:26.400 --> 0:22:29.760 up one point four percent since January one, and finally, 0:22:29.880 --> 0:22:33.320 Apple shares their heading for their longest winning streak since 0:22:33.320 --> 0:22:37.800 two thousand three. After a dismal start, too Apples seen 0:22:37.840 --> 0:22:41.159 its earnings hast events being upgraded by analysts. Live in 0:22:41.240 --> 0:22:43.920 New York, I'm John Tucker Bloomberg Daybreak. All right, John, 0:22:43.960 --> 0:22:45.800 thank you. Let's turn to Hong Kong now, where the 0:22:45.840 --> 0:22:48.520 outlook for bankers is looking up. This city has seen 0:22:48.520 --> 0:22:51.000 an next it is of finance staff, but those that 0:22:51.160 --> 0:22:54.359 stayed are getting rewarded. Bloomberg's Reni to Young joins us 0:22:54.400 --> 0:22:56.960 live with the details. Good morning, Ready to Good morning Karen. 0:22:57.040 --> 0:22:59.800 For tech savvy workers willing to live in the somewhat 0:23:00.040 --> 0:23:04.920 selated city, opportunities like big promotions and pay increases are plentiful, 0:23:05.280 --> 0:23:08.920 at least for the short term. Typically, finance workers heading 0:23:08.960 --> 0:23:11.160 to a different company in Hong Kong would get about 0:23:11.160 --> 0:23:14.440