WEBVTT - Bloomberg Daybreak: March 4, 2022 - Hour 2 (Radio) 0:00:04.160 --> 0:00:06.840 Live from the Bloomberg into Rap Day Brooker Studios is 0:00:06.920 --> 0:00:11.479 his Bloomberg Daybreak for Friday, March four. Coming up this hour, 0:00:11.760 --> 0:00:16.280 Russian forces occupy Europe's largest nuclear power plant. Stocks drop 0:00:16.360 --> 0:00:19.599 as the war in Ukraine escalates, Commodities wrap up a 0:00:19.720 --> 0:00:22.880 historic week as oil and metals soar, and investors look 0:00:22.920 --> 0:00:25.720 ahead to the February jobs report. New York City Mayor 0:00:25.760 --> 0:00:28.639 Adams could announce today he's in COVID restrictions, plus the 0:00:28.640 --> 0:00:32.640 blowbat from Moscow's invasion in Ukraine hits Russian connected gas 0:00:32.640 --> 0:00:35.760 stations in Newark. On Michael lar More Ahead, I'm John 0:00:35.800 --> 0:00:38.559 Stas shown sports Kevin Durant returned to the next lineup. 0:00:38.560 --> 0:00:40.879 They still lost to the heat in Brooklyn. The Islanders 0:00:40.880 --> 0:00:46.800 lost the Vancouver That's all straight Ahead on Bloomberg Daybreak 0:00:47.040 --> 0:00:51.880 on Bloomberg eleven, Trio, New York, Bloomberg one, Washington, d C, 0:00:52.280 --> 0:00:56.640 Bloomberg one O six one, Boston, Bloomberg nine sixty, San Francisco, 0:00:57.000 --> 0:01:00.000 Sirius x M one nine Team and around the world 0:01:00.000 --> 0:01:03.160 Old on Bloomberg Radio dot Com and via the Bloomberg 0:01:03.200 --> 0:01:09.520 Business Set. Good morning, I'm Nathan Hagar, and I'm far 0:01:09.640 --> 0:01:12.520 in Moscow and us OFT index futures are falling this 0:01:12.600 --> 0:01:15.640 morning as war risks intensify. We're coming up to six 0:01:15.680 --> 0:01:17.720 o one on Wall Street, and we checked the markets 0:01:17.760 --> 0:01:20.680 every fifteen minutes throughout the trading day. On Bloomberg, U 0:01:20.720 --> 0:01:23.440 S and P future is down thirty five down, futures 0:01:23.480 --> 0:01:27.200 down two hundred sixty four, nasdack futures down one hundred six. 0:01:27.480 --> 0:01:30.200 The decks in Germany is down three point four percent. 0:01:30.280 --> 0:01:32.679 The ten year treasury up nineteen thirty seconds. He had 0:01:32.720 --> 0:01:35.399 one point seven seven percent, and they yield on the 0:01:35.440 --> 0:01:38.959 two year at one point for seven percent. Nathan, all right, Karen, 0:01:38.959 --> 0:01:40.560 we'll get back to markets in a minute. But the 0:01:40.600 --> 0:01:43.720 stakes have been raised even higher in Russia's war with Ukraine. 0:01:43.800 --> 0:01:47.600 Russian forces are now occupying Europe's largest nuclear plant after 0:01:47.680 --> 0:01:51.080 shelling at the facility overnight sparked a fire. Ukrainian President 0:01:51.160 --> 0:01:55.120 Vladimir z Linsky says Europe needs to wake up. If 0:01:55.160 --> 0:01:58.120 there's an explosion, that's the end for everyone, the end 0:01:58.200 --> 0:02:01.600 for Europe, the evacuation of your. Only urgent action by 0:02:01.640 --> 0:02:04.160 Europe can stop the Russian troops do not allow the 0:02:04.200 --> 0:02:07.360 death of Europe from a catastrophe at a nuclear power station. 0:02:07.520 --> 0:02:10.840 President Zelinski is appealing to Russian President Vladimir Putin to 0:02:10.960 --> 0:02:13.079 meet with him. Is the only way to stop the war. 0:02:13.320 --> 0:02:15.840 Secretary of State Antony B. Lincoln says, the world stands 0:02:15.880 --> 0:02:18.920 ready to assist Ukraine. We seek no conflict, but if 0:02:18.960 --> 0:02:22.120 constantly comes to us, we're ready for it and we 0:02:22.160 --> 0:02:25.720 will defend every inch spret NATO Territory. Secretary Blincoln is 0:02:25.760 --> 0:02:28.560 meeting with NATO ministers in Brussels. The White House says 0:02:28.560 --> 0:02:31.240 President Biden is being briefed on the situation, but right 0:02:31.240 --> 0:02:34.400 now the US says it's not detecting elevated radiation levels 0:02:34.400 --> 0:02:37.239 at the nuclear site. Meanwhile, Nathan, the rush to flee 0:02:37.320 --> 0:02:40.079 Ukraine is for some very tough decisions for more than 0:02:40.120 --> 0:02:43.200 a million people. On Bloomberg's Dead Bachelor has more over 0:02:43.240 --> 0:02:46.160 a million people, with a forecast that possibly four million 0:02:46.240 --> 0:02:49.840 more refugees, and El Shaker, the International Deputy Director of 0:02:49.840 --> 0:02:54.120 Refugee International, tales Bloomberg families are being split up. Sometimes 0:02:54.120 --> 0:02:56.400 if it's just a father puts this child on a 0:02:56.440 --> 0:02:59.200 bus and here rise in Poland. The father may stay 0:02:59.240 --> 0:03:01.720 to help. So on a company, children are arriving in 0:03:01.840 --> 0:03:05.000 dainty extra protections, and some of these are only on 0:03:05.160 --> 0:03:09.680 fourteen day temporary visas. In San Francisco. I'm at Baxter 0:03:09.760 --> 0:03:12.760 Bloomberg daybreak. Okay, and thanks. As the US and allies 0:03:12.840 --> 0:03:15.680 choke off investor demand for Russian assets, parts of Wall 0:03:15.720 --> 0:03:19.080 Street are jumping on the buying opportunity. Sources say Goldman, 0:03:19.120 --> 0:03:21.919 Sax and JP Morgan Chase have been purchasing beaten down 0:03:21.960 --> 0:03:25.080 company bonds tide to Russia in recent days. Well, Nathan, 0:03:25.080 --> 0:03:27.760 the Russian stock market remains closed while stocks and you're 0:03:27.800 --> 0:03:30.280 a plunge over the latest developments in Ukraine, and we 0:03:30.360 --> 0:03:32.120 go live to London and get the latest with the 0:03:32.120 --> 0:03:36.200 Bloomberg's Max Ramsey Max. Morning to you, Karen and Nathan. 0:03:36.240 --> 0:03:38.800 Another day of losses in Europe. The price action is 0:03:38.840 --> 0:03:41.760 pretty punishing across the continents. Day the stock six hundred 0:03:42.200 --> 0:03:44.520 two point nine percent, the foot See one hundred down 0:03:44.640 --> 0:03:47.600 three percent, and the docks in Germany leads losses down 0:03:47.760 --> 0:03:50.119 three point seven percent. We see this risk off move 0:03:50.360 --> 0:03:53.200 in bond markets as well. The German tenure bun yield 0:03:53.320 --> 0:03:56.480 folding five basis points negative point oh three percent. The 0:03:56.520 --> 0:03:59.400 yield there as you mentioned the Russian stock market remains 0:03:59.440 --> 0:04:02.680 shut and stay so until at least Wednesday. It's a 0:04:02.720 --> 0:04:05.760 record in the country's modern history. They're looking to safeguard 0:04:05.760 --> 0:04:09.720 domestic investors from the effects of these sanctions. Life from London, 0:04:09.760 --> 0:04:12.320 Max Ramsey, Bloomberg daybreak. All right, Max. We also saw 0:04:12.360 --> 0:04:15.240 losses in Asia overnight. Let's get that recamp from Bloomberg's 0:04:15.280 --> 0:04:18.279 Juliet Sally In Singapore, Good morning, Juliet, Good morning, Nathan 0:04:18.279 --> 0:04:20.800 and Karen. The MSCI Asia Pacific Index fell to a 0:04:20.839 --> 0:04:23.800 fresh sixteen month loyal weighed down by losses in Japan 0:04:23.839 --> 0:04:26.480 and Hong Kong, thenicate to to five paired earlier losses 0:04:26.480 --> 0:04:28.560 of as much as three percent. It closed lower by 0:04:28.560 --> 0:04:32.120 two point two percent. In Tokyo. Chinese tech players were dumped, 0:04:32.160 --> 0:04:34.360 with an index of tex sharres listed in Hong Kong 0:04:34.560 --> 0:04:38.039 falling to its lowest since inception, and the h Shares 0:04:38.120 --> 0:04:41.000 index is trading near six year loan. Over the course 0:04:41.000 --> 0:04:43.279 of the week, the ms CI Asia Pacific Index fell 0:04:43.320 --> 0:04:45.440 by as much as one point eight percent. It's third 0:04:45.560 --> 0:04:50.039 weekly loss in Singapore. Juliet Sally Bloomberg dead break, All right, thanks, Juliette. 0:04:50.040 --> 0:04:53.040 Commodities are wrapping up a historic week as Russia's invasion 0:04:53.040 --> 0:04:55.600 of Ukraine royals markets. We get the latest life from 0:04:55.600 --> 0:04:58.279 Bloomberg's rere need a Young, Good morning, Ready down, Good morning, Karen. 0:04:58.360 --> 0:05:02.000 Soaring commodities prices and crude to aluminum and wheat are 0:05:02.080 --> 0:05:06.960 adding to hot inflationary pressures that's hurting consumers and fueling 0:05:06.960 --> 0:05:10.400 concerns over an economic slowdown. As a result, the Bloomberg 0:05:10.400 --> 0:05:13.880 Commodity Spot Index has rallied more than nine percent this week. 0:05:14.279 --> 0:05:17.680 Oil is heading for its biggest weekly surgeon almost two years. 0:05:17.960 --> 0:05:20.800 Brent crude which is almost it almost hit a hundred 0:05:20.800 --> 0:05:23.599 twenty dollars yesterday. It's now trading at just over a 0:05:23.640 --> 0:05:27.520 hundred and twelve dollars a barrel. Prices for wheat, aluminum, nickel, 0:05:27.560 --> 0:05:30.919 and crude are all expected to continue rising. Live in 0:05:30.960 --> 0:05:34.200 New York. I'm Renita Young Bloomberg day break right, Renita. Thanks. 0:05:34.200 --> 0:05:37.440 Despite the surgeon oil prices and the Russian invasion of Ukraine, 0:05:37.440 --> 0:05:40.159 Fed Chair j Palace sticking to plans to raise raids 0:05:40.200 --> 0:05:43.520 beginning later this month. I would be recommending and supporting 0:05:44.160 --> 0:05:47.400 a one quarter of one percent interest rate increase at 0:05:47.400 --> 0:05:50.440 our March meeting. If we don't see inflation behaving as 0:05:50.440 --> 0:05:52.840 we expected to behave, which is to peek and begin 0:05:52.920 --> 0:05:55.679 to come down. If we see inflation behaving in ways 0:05:55.720 --> 0:05:58.720 not consistent with that, then we're prepared to raise my 0:05:58.839 --> 0:06:01.640 more than that amount in a meeting or meetings, FED 0:06:01.760 --> 0:06:04.240 Chair j Pow reiterated the rate hike plan during two 0:06:04.279 --> 0:06:07.440 days of congressional testimony. The FEDS two day Policy Meeting 0:06:07.480 --> 0:06:10.919 begins March fift Well, Nathan. The feds next major economic 0:06:11.000 --> 0:06:13.120 data point comes later this morning with the release of 0:06:13.120 --> 0:06:14.920 the February Jobs Are Poor and Are We get a 0:06:14.960 --> 0:06:18.320 preview from Bloomberg's Michael McKee. The consensus is that as 0:06:18.320 --> 0:06:22.280 the O Macron COVID variant faded in February, hiring probably 0:06:22.320 --> 0:06:25.880 picked up and was forecast another large gaining jobs restored 0:06:26.000 --> 0:06:28.839 and a drop in the unemployment rate back below four percent. 0:06:29.160 --> 0:06:31.480 Although the Russian War will cap the impact of this 0:06:31.600 --> 0:06:34.839 employment report, Federal Reserve officials will be interested in the 0:06:34.839 --> 0:06:37.800 strength of hourly earnings as they watch for signs high 0:06:37.839 --> 0:06:41.520 inflation may be becoming embedded in the economy. The FED 0:06:41.680 --> 0:06:44.520 is also interested in the labor force participation rate, how 0:06:44.520 --> 0:06:46.960 many people are out looking for a job this week. 0:06:47.040 --> 0:06:50.520 Chairman J Powell told Congress policymakers don't know why so 0:06:50.560 --> 0:06:53.279 many people are staying home, but he expressed hope that 0:06:53.360 --> 0:06:58.200 hiring will pick up as COVID eases. Michael McKee Bloomberg Daybreak. Okay, Mike, 0:06:58.240 --> 0:07:01.240 thanks SMP futures down thirty five points down, futures down 0:07:01.240 --> 0:07:03.479 two d sixty eight and astack futures lower by a 0:07:03.520 --> 0:07:06.240 hundred points. The tenure treasury of eighteen thirty seconds, the 0:07:06.279 --> 0:07:09.600 yield one point seven seven. NIMEX screwed up two point 0:07:09.640 --> 0:07:12.840 two hundred ten dollars eight cents of barrel the euro 0:07:12.920 --> 0:07:16.360 at one ten to the dollar. Straight ahead your latest 0:07:16.400 --> 0:07:19.200 local headlines in the check of sports. This is Bloomberg 0:07:23.160 --> 0:07:25.360 Sounds six o seven on Wall Street where twenty one 0:07:25.400 --> 0:07:28.320 degrees in Central Park, A boy the FDR drive a 0:07:28.440 --> 0:07:33.239 vehicle fire on the northbound side as UH, causing serious delays. 0:07:33.320 --> 0:07:35.160 Michael Barr has more on what's going on in New 0:07:35.200 --> 0:07:37.840 York and around the world. Michael, thank you very much. Nathan. 0:07:37.840 --> 0:07:39.680 This could be a big day in New York City's 0:07:39.720 --> 0:07:43.600 progress against COVID. Nineteen Mayor Eric Adams could announce as 0:07:43.600 --> 0:07:47.080 soon as today to lift mask mandates and schools and 0:07:47.200 --> 0:07:52.600 vaccination requirements and restaurants, bars, and theaters, while infections, hospitalizations, 0:07:52.640 --> 0:07:56.720 and deaths continue to move Adams, it could signal a 0:07:56.840 --> 0:07:59.640 turning point in the pandemic to a return to normalcy 0:07:59.720 --> 0:08:03.000 if he makes the decision today. Meanwhile, New York City's 0:08:03.040 --> 0:08:07.000 Health Department says COVID hospitalizations saw the biggest racial gap 0:08:07.120 --> 0:08:10.760 during O Macron. Black New Yorkers were hospitalized at two 0:08:10.760 --> 0:08:13.360 times the rate of White New Yorkers during the winter 0:08:13.440 --> 0:08:16.840 O Macron surge. Gas prices have shot up across the 0:08:16.880 --> 0:08:20.440 country due in large part to the Russian invasion of Ukraine. 0:08:20.880 --> 0:08:24.080 It's causing a sharp rise in oil prices in North Carolina. 0:08:24.120 --> 0:08:27.120 For example, the price of a gallon of regular at 0:08:27.160 --> 0:08:29.720 an Exxon gas station and Raleigh had closed to four 0:08:29.720 --> 0:08:33.920 dollars twenty cents. This Raley mom says even their teenagers 0:08:33.920 --> 0:08:37.160 are feeling the pinch. I have kids that just started driving, 0:08:37.240 --> 0:08:39.840 and I know that their love and the experience, but 0:08:39.960 --> 0:08:46.920 even they are completely overwhelmed by the end of their paycheck. 0:08:47.200 --> 0:08:49.720 You know, how do I get back and forth to work. 0:08:50.600 --> 0:08:54.479 Los Angeles is now averaging more than five dollars outraged 0:08:54.520 --> 0:08:57.560 by the invasion of Ukraine, lawmakers in New Jersey's largest 0:08:57.559 --> 0:09:01.120 city took aim at the Russian franchise loo Oyal Gas Stations. 0:09:01.559 --> 0:09:04.600 The New York City Council voted unanimously to suspend the 0:09:04.600 --> 0:09:09.040 service stations operating licenses, citing Luke Oil's base in Moscow. However, 0:09:09.360 --> 0:09:13.040 the stations are franchises owned by locals, not Russians, and 0:09:13.120 --> 0:09:17.559 they employ mostly New Jersey residents. President Biden's signed bipartisan 0:09:17.679 --> 0:09:21.240 legislation that prohibits the use of forest arbitration and sexual 0:09:21.280 --> 0:09:25.439 assault and harassment claims in the workplace. President Biden says 0:09:25.440 --> 0:09:29.240 the Forest Arbitration of Sexual Assault and Harassment Act ends 0:09:29.280 --> 0:09:33.160 a secretive practice that is often used to shield perpetrators 0:09:33.200 --> 0:09:36.120 from full and public accountability. There will be cases where 0:09:36.160 --> 0:09:40.319 victims want their claims resolved in private, but some survivors 0:09:40.320 --> 0:09:43.000 will want their day in court, and that should be 0:09:43.440 --> 0:09:46.920 their choice and nobody else's church. The President says. The 0:09:46.920 --> 0:09:51.119 new law profoundly changes the way businesses handles sexual abuse allegations. 0:09:51.400 --> 0:09:54.040 Global News twenty four hours a day on air and 0:09:54.200 --> 0:09:57.040 on Bloomberg quick Take, powered by more than twenty seven 0:09:57.120 --> 0:10:00.160 under journalist and analyist more than twenty countries. Michael bar 0:10:00.280 --> 0:10:07.000 this is Bloomberg NA. Okay, Michael, thank you. We're coming 0:10:07.080 --> 0:10:08.520 up to six ten on Wall Street. Time for the 0:10:08.520 --> 0:10:11.640 Bloomberg Sports Update with John Sesshire. Thanks Nathan, welcome back. 0:10:11.720 --> 0:10:14.360 Kevin Durant, first game for the Nets after missing twenty 0:10:14.360 --> 0:10:17.000 one with an injury. Same old Katie. Thirty one points 0:10:17.000 --> 0:10:19.280 in thirty five minutes, but the Nets lost at Park 0:10:19.360 --> 0:10:22.160 least to East lead. In Miami one thirteen one o seven. 0:10:22.240 --> 0:10:24.360 The Heat were coming off a blown lead a one 0:10:24.400 --> 0:10:26.800 point lost the night before. In Milwaukee. They gave three 0:10:26.840 --> 0:10:29.720 starters the night off, but Bam out of Bio played 0:10:29.760 --> 0:10:32.160 He scored thirty and the Nets have now lost sixteen 0:10:32.240 --> 0:10:34.640 of their last nineteen to drop down to five hundred. 0:10:34.679 --> 0:10:37.959 They played Sunday in Boston. The Celtics just beating Memphis. 0:10:37.960 --> 0:10:41.600 They've won thirteen of fifteen. The Knicks like the Nets, 0:10:41.679 --> 0:10:44.400 losers of sixteen the last nineteen, and talk about it 0:10:44.640 --> 0:10:47.160 not getting any easier. Next to night in Phoenix, the 0:10:47.200 --> 0:10:49.839 Sons are an NBA best fifty and twelve at the 0:10:49.920 --> 0:10:52.920 ub S Arena. Islanders had a third period lead Vancouver 0:10:53.080 --> 0:10:55.680 two goals forty five seconds apart midways to the third. 0:10:55.920 --> 0:10:58.000 The Canucks won four to three, so they went two 0:10:58.000 --> 0:11:00.400 and one on their tour. Of the three New York 0:11:00.440 --> 0:11:02.319 Area teams, the Isles have now lost eight of the 0:11:02.400 --> 0:11:05.680 last eleven college It's rare loss for Iona in Riverdale, 0:11:05.760 --> 0:11:09.080 Manhattan's forward for the second left one by two. Iona 0:11:09.480 --> 0:11:12.120 has dominated the mat but needs to win the upcoming 0:11:12.160 --> 0:11:14.960 conference tournament to gain entry to the MT Double A. 0:11:15.080 --> 0:11:18.080 The big college basketball story is the game tomorrow North 0:11:18.080 --> 0:11:21.520 Carolina at Duke Final, long game for Duke's legendary coach. 0:11:21.640 --> 0:11:24.559 Like I've tried never to look in the past too 0:11:24.640 --> 0:11:30.880 much or or in the future, but you know a 0:11:30.880 --> 0:11:36.839 little bit of thinking yesterday your last game in camera? Right, 0:11:38.280 --> 0:11:41.800 It's crazy, you know, how how did that happen? Coach 0:11:41.840 --> 0:11:44.320 the Duke for forty two years, most wins and into 0:11:44.320 --> 0:11:48.000 double A history, John Stay actually were Bloomberg Sports, Thanks John. 0:11:48.320 --> 0:11:51.079 Sp Futures down down thirty four points down. Futures down 0:11:51.120 --> 0:11:54.480 two undred sixty six. Dan stack futures are lower by 0:11:54.559 --> 0:11:57.839 ninety three points. The tenure treasury yield one point seven 0:11:57.960 --> 0:12:00.559 seven percent. The euro now one points your own nine 0:12:00.720 --> 0:12:04.240 nine five against the dollar, lowest level since May This 0:12:04.559 --> 0:12:10.600 is Bloomberg. Bloomberg Daybreak, brought to you by Audie. Don't 0:12:10.640 --> 0:12:12.959 let someone else drive off in the outie model you've 0:12:13.000 --> 0:12:15.760 always wanted. Visit a try state autie healer to get 0:12:15.760 --> 0:12:23.760 behind the wheel of yours. Today, Markets headlines and breaking 0:12:23.800 --> 0:12:26.680 news twenty four hours a day at Bloomberg dot Com, 0:12:26.800 --> 0:12:30.319 the Bloomberg Business Outland at Bloomberg Quick Tape. This is 0:12:30.360 --> 0:12:39.760 a Bloomberg Business Flash and I'm parrot. Moscow stocks are 0:12:39.760 --> 0:12:42.600 falling along with US stock index futures this morning as 0:12:42.640 --> 0:12:46.120 war risks in tensify after a Ukrainian nuclear power plant 0:12:46.160 --> 0:12:49.319 briefly caught fire. We checked the markets every fifteen minutes 0:12:49.320 --> 0:12:51.800 throughout the trading day on Bloomberg Right Now. S and 0:12:51.840 --> 0:12:55.120 P futures down forty points down, futures down three hundred 0:12:55.120 --> 0:12:59.000 eight nasdack futures down one twenty two. The decks in 0:12:59.080 --> 0:13:01.920 Germany is down three point six per cent. The ten 0:13:01.960 --> 0:13:04.400 year treasury of eighteen thirty seconds he had one point 0:13:04.400 --> 0:13:06.880 seven seven per cent. They yield on the two year 0:13:06.960 --> 0:13:09.920 one point four nine percent. Nine meg Screwed oil is 0:13:10.000 --> 0:13:12.160 up to per cent, up two dollars nineteen cents and 0:13:12.200 --> 0:13:15.120 a hundred nine dollars eighty seven eighty seven cents of 0:13:15.200 --> 0:13:17.880 barrel comes. Gold is up seven tenths per cent, or 0:13:17.880 --> 0:13:20.920 thirty dollars forty cents at nineteen forty nine fifty announced. 0:13:21.160 --> 0:13:24.320 The euro one five against the dollar, British pound one 0:13:24.360 --> 0:13:26.640 point three two nine six, the yen is at one 0:13:26.720 --> 0:13:30.559 fifteen point three five and checking nitcoin this morning lower 0:13:30.640 --> 0:13:33.120 down one point one percent. It's at forty one thousand, 0:13:33.160 --> 0:13:35.920 six hundred thirty dollars. And today, of course we're watching 0:13:35.960 --> 0:13:37.760 for the February jobs are for it. It's at eight 0:13:37.800 --> 0:13:40.600 thirty Wall Street time. That's a Bloomberg business flash. Now 0:13:40.600 --> 0:13:43.120 here's Michael Barr with Laura Unless going on around the world. 0:13:43.160 --> 0:13:46.599 Michael Darren, thank you very much. Ukrainian authorities say a 0:13:46.720 --> 0:13:50.480 fivere at Europe's biggest nuclear plan, ignited by Russian shelling, 0:13:50.920 --> 0:13:54.199 has been extinguished and that Russian forces have taken control 0:13:54.240 --> 0:13:58.640 of the site. Ukraine State Nuclear Regulator says so far 0:13:58.800 --> 0:14:02.280 no changes in ready Asian levels have been recorded. Donald 0:14:02.320 --> 0:14:05.720 Trump Junior's fiancee has been subpoena to test VI before 0:14:05.800 --> 0:14:09.959 the House January sixth committee. The subpoenist says Kimberly Gilfoyle 0:14:10.080 --> 0:14:12.480 met with Donald Trump at the White House, spoke at 0:14:12.520 --> 0:14:17.040 the rally before the January six riot, and helped organize 0:14:17.080 --> 0:14:20.120 and raise money for the event. In the NBA, the 0:14:20.200 --> 0:14:23.080 Nets and Warriors lost, the Celtics won. In the NHL, 0:14:23.200 --> 0:14:26.920 the Islanders lost, the Bruins and Capitals won. Global News 0:14:26.960 --> 0:14:30.240 twenty four hours a day on air and on Bloomberg Quicktake, 0:14:30.440 --> 0:14:33.360 powered by more than twenty seven under journalists and analyst 0:14:33.480 --> 0:14:35.720 more than a hundred twenty countries. I'm Michael bar This 0:14:35.720 --> 0:14:38.400 is Bloomberg Nathan. Thanks Michael. At six nineteen on Wall 0:14:38.400 --> 0:14:41.160 Street Life from the Bloomberg Intractive Brokers Studios. This is 0:14:41.160 --> 0:14:44.200 Bloomberg Daybreak as we continue to monitor developments around the 0:14:44.200 --> 0:14:46.240 war in Ukraine. Were very pleased to be joined this 0:14:46.280 --> 0:14:49.160 morning by Andy Blocker. He's the global head of Public Policy, 0:14:49.400 --> 0:14:52.360 head of US Government Affairs at Investco. Andy, it's great 0:14:52.400 --> 0:14:54.840 to speak with you again this morning as we watch 0:14:55.200 --> 0:14:58.800 NATO ministers meeting in Brussels right now, just to get 0:14:58.880 --> 0:15:02.040 our listeners up to be the United Kingdoms Foreign Minister 0:15:02.160 --> 0:15:05.000 is now calling for an urgent U n Security Council 0:15:05.040 --> 0:15:09.320 meeting after the shelling of the nuclear plant in Ukraine, 0:15:09.320 --> 0:15:14.200 Europe's largest nuclear facility. Does this attack change the way 0:15:14.360 --> 0:15:19.360 the US and Europe approach Russia in this war? Well, 0:15:19.440 --> 0:15:23.160 they didn't. Look, the US and the Europe have really 0:15:23.160 --> 0:15:26.280 been very very strong up to this point and ratcheting 0:15:26.400 --> 0:15:28.600 up sanctions to a level that at the beginning of 0:15:28.600 --> 0:15:31.920 this didn't think they would do, with some banks being 0:15:31.960 --> 0:15:35.240 denied access to swift with the Russian Central Bank, even 0:15:35.240 --> 0:15:39.280 Switzerland joining in given their neutrality. So yes, they've done 0:15:39.280 --> 0:15:41.960 a lot until now, But I don't think this particular 0:15:42.040 --> 0:15:44.800 incident will change what the US is doing. I mean, 0:15:44.800 --> 0:15:47.960 you saw the US doing um all of darts as 0:15:48.040 --> 0:15:51.720 far as going after them and considering other options like 0:15:51.720 --> 0:15:54.160 oil and gas, which the administrations about for now, But 0:15:54.200 --> 0:15:56.520 so that incident will not in them itself. Do I 0:15:56.520 --> 0:16:01.000 think we're ratching up regardless pushback a bit. You mentioned 0:16:01.000 --> 0:16:04.800 the oil and gas still not under sanctioned. There are 0:16:04.920 --> 0:16:08.000 quite a few observers who say that the US and 0:16:08.040 --> 0:16:11.560 Europe should be targeting Russia's oil and gas to cut 0:16:11.600 --> 0:16:14.480 off financing of the war even further. What would it 0:16:14.520 --> 0:16:17.600 take to get the allies to make that step? Is 0:16:17.600 --> 0:16:21.040 it a step that should be taken? So on that. 0:16:21.200 --> 0:16:24.840 I think the whole back there is that right now 0:16:24.960 --> 0:16:26.880 Europe is not willing to go that far. I mean, 0:16:27.000 --> 0:16:29.240 as you know, Europe is much more reliant on Russian 0:16:29.400 --> 0:16:32.480 oil and gas than the US. I think it's reliance 0:16:32.520 --> 0:16:34.960 on Russian oil and forty percent reliance on Russian gas 0:16:34.960 --> 0:16:37.200 in Europe were much smaller. I think it's four to 0:16:37.280 --> 0:16:40.400 five percent in the US. It's actually a possibility. I mean, 0:16:40.680 --> 0:16:43.320 not only Center Mansion and Republicans in favor of banning 0:16:43.600 --> 0:16:47.000 Russian oil, but Speaker Pelosi's made comments. So that is 0:16:47.040 --> 0:16:49.800 a lot of pressures of administrations holding back right now 0:16:50.080 --> 0:16:52.440 and the resisting this mostly because they don't want to 0:16:52.480 --> 0:16:55.920 do anything that will exacerbate an already tenuous inflation situation. 0:16:56.280 --> 0:16:58.920 So that remains to be seen how that goes. It 0:16:59.040 --> 0:17:01.720 may take an access Congress to push the administration in 0:17:01.760 --> 0:17:05.160 that direction. There's some pressure on the administration I think 0:17:05.200 --> 0:17:08.160 to consider boosting domestic production. Is that is there any 0:17:08.200 --> 0:17:12.360 appetite at the White House to do that? I think 0:17:12.400 --> 0:17:15.080 on some level there would be some um. I think 0:17:15.560 --> 0:17:19.680 Senator Mansion's proposal is to to ban Russian oil while 0:17:19.760 --> 0:17:23.000 also increase in production of oil, gas, and coal along 0:17:23.040 --> 0:17:26.640 with clean energy. Um. I'm not sure how environmentalists will 0:17:26.640 --> 0:17:30.720 look at that, but that's the debate right now. Are 0:17:30.760 --> 0:17:33.800 there off ramps for President putin that you can see 0:17:33.880 --> 0:17:37.280 right now? What effect are the sanctions having at this 0:17:37.320 --> 0:17:41.000 point the targeting of not just the banks but the 0:17:41.040 --> 0:17:46.480 oligarchs right now, So that's the big question, Nathan, Um, 0:17:46.520 --> 0:17:48.720 what is his off ramp I think his conversation with 0:17:48.800 --> 0:17:53.440 Macron yesterday is disheartening for those who think he's gonna 0:17:54.080 --> 0:17:56.560 back down. He's saying we're moving full steam ahead. And 0:17:56.560 --> 0:17:58.960 I think this is going to be a long, bloody 0:17:59.040 --> 0:18:01.840 siege and war with Ukraine. So if he goes down 0:18:01.840 --> 0:18:03.280 that path to you know, that path, there is no 0:18:03.359 --> 0:18:07.000 offer ramp Um. And I think the Russian people ultimately 0:18:07.040 --> 0:18:10.359 are going to suffer. They've already suffered greatly with some 0:18:10.440 --> 0:18:12.720 of the Central Bank and the and the bank fensions 0:18:12.840 --> 0:18:16.440 and Um, so I think it gets worse before it 0:18:16.440 --> 0:18:19.200 gets better. I wanted to ask you a little bit further, 0:18:19.280 --> 0:18:22.960 what does the targeting the the at least the shelling 0:18:23.480 --> 0:18:28.160 of large nuclear sights now in Ukraine tell you about 0:18:28.160 --> 0:18:31.560 where this war could be going, what Russia's strategy could 0:18:31.560 --> 0:18:38.760 be Um, this is Russia's going after the infrastructure of 0:18:38.760 --> 0:18:41.800 of Ukraine. They're gonna do it's it's almost a siege 0:18:42.080 --> 0:18:46.240 UM type approach where they're just gonna wait them out 0:18:46.320 --> 0:18:49.120 and just pretty much destroy the country. So I think 0:18:49.160 --> 0:18:52.960 they're they're they're trying to take over every UM central, 0:18:53.320 --> 0:18:56.119 whether it's energy with it's communications, everything. They're trying to 0:18:56.160 --> 0:19:00.000 do everything they can to debilitate the country and UM. 0:19:00.119 --> 0:19:04.040 It's it's interesting that at one point Plutin can say, hey, 0:19:04.200 --> 0:19:06.719 U trainings are Russians, yet he would he would do 0:19:06.760 --> 0:19:10.040 all of this UM horrific things in the country. About 0:19:10.040 --> 0:19:12.840 thirty seconds left. Is there anything further that you can 0:19:12.880 --> 0:19:14.960 see that the allies in the US can do right 0:19:15.000 --> 0:19:18.840 now to help Ukrane, Well, they are doing a lot 0:19:18.880 --> 0:19:22.280 as far as helping them UM with parmaments. You've seen 0:19:22.359 --> 0:19:25.879 Germany reverse on its long staying policy of banning the 0:19:25.960 --> 0:19:28.800 export of weapons into the CONFLI zone. You see Sweden 0:19:28.840 --> 0:19:30.720 as well come in and do the same thing as 0:19:30.720 --> 0:19:32.719 well as the EU. So they're doing what they can. 0:19:32.800 --> 0:19:36.159 The US is sharing intelligence to help them UM, and 0:19:36.160 --> 0:19:40.399 there's humanitarian aid. But as far as reversal of this 0:19:40.760 --> 0:19:44.240 UM slow march is taken over a Ukraine that's really unputin. 0:19:44.280 --> 0:19:47.080 At this point, I think I'm not sure that Ukraine 0:19:47.160 --> 0:19:49.720 can hold them off in the long term. Andy Blocker, 0:19:49.920 --> 0:19:52.159 thank you for your insights. Andy Blocker's head of Global 0:19:52.200 --> 0:19:57.679 Public Policy, head of US Government Affairs at Investco. Future 0:19:57.720 --> 0:20:08.000 is moving lower. You're listening to Bloomberg day Break Bloomberg 0:20:08.040 --> 0:20:10.720 eleven three oh weather. Sunshine up for thirties today, clouds 0:20:10.800 --> 0:20:14.800 end upper forties tomorrow, Scattered showers, Breezy and mild for Sunday, 0:20:14.800 --> 0:20:17.760 with a high near sixty five degrees. Right now twenty 0:20:17.840 --> 0:20:24.919 one in Central Park, broadcasting live from the Bloomberg Interactive 0:20:24.960 --> 0:20:28.840 Broker Studio in New York, Bloomberg Eving FO to Washington, 0:20:28.920 --> 0:20:33.000 d C, Bloomberg to Boston, Bloomberg one O six one 0:20:33.119 --> 0:20:36.560 to San Francisco, Bloomberg Non sixty to the country, Sirius 0:20:36.720 --> 0:20:39.879 XM Cho one nine, and around the globe, the Bloomberg 0:20:39.920 --> 0:20:44.360 Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak 0:20:50.280 --> 0:20:52.560 six thirty on Wall Street. Good morning, I'm Nathan Hagar 0:20:52.960 --> 0:20:55.480 and I'm Karen Moscow, and we're just about three hours 0:20:55.520 --> 0:20:57.639 away from the open of US trading. It's time for 0:20:57.640 --> 0:20:59.560 the five things you need to notice start your day. 0:20:59.600 --> 0:21:03.320 Bronze you by interactive brokers trade crypto for less going 0:21:03.320 --> 0:21:05.639 with commissions just twelve to eighteen basis points and no 0:21:05.720 --> 0:21:08.960 hidden spreads their markups. Learn more at ibk R dot com, 0:21:09.000 --> 0:21:13.200 slash crypto. At first, Russia now occupying the largest nuclear 0:21:13.240 --> 0:21:16.280 side in Europe. Overnight Shelling started a fire at this 0:21:16.359 --> 0:21:21.239 operation nuclear plant. Ukrainian Energy Minister Hermann Hallushenko tells us 0:21:21.280 --> 0:21:24.359 this raises the stakes in the war. One example of 0:21:24.400 --> 0:21:28.719 the parigia could be repeated in in Uh, in the 0:21:28.800 --> 0:21:32.520 other stations, on the other units. And and that's why 0:21:32.640 --> 0:21:36.040 we ask for clothing the sky. We don't see any 0:21:36.080 --> 0:21:40.120 other possibilities. Herman Hellushenko spoke on Bloomberg Television. The US 0:21:40.200 --> 0:21:43.640 Energy Department says it's activated it's nuclear incident Response team, 0:21:43.680 --> 0:21:46.879 but right now it doesn't see elevated radiation levels. The 0:21:46.960 --> 0:21:50.280 US futures and stocks overseas are falling as the war escalates. 0:21:50.320 --> 0:21:53.320 Caaring right now, SMP five dred futures are down three 0:21:53.359 --> 0:21:56.480 quarters of one percent. Major European averages and stocks in 0:21:56.520 --> 0:21:59.760 Asia are lower between two and three percent, and commodities 0:21:59.800 --> 0:22:02.560 are happing up a historic week, Nathan as Russia's invasion 0:22:02.600 --> 0:22:05.200 of Ukraine royals markets. We get the latest lie from 0:22:05.200 --> 0:22:07.880 Bloomberg's Real Need a young good Morning, Ready to good morning, 0:22:07.920 --> 0:22:11.720 Karen's soaring commodities prices from crewe to aluminum and wheat 0:22:11.760 --> 0:22:16.280 are adding to hot inflationary pressures that's hurting consumers and 0:22:16.320 --> 0:22:19.800 fueling concerns over an economic slowdown. Oil is heading for 0:22:19.880 --> 0:22:23.160 its biggest weekly surge in almost two years. Brent crude, 0:22:23.160 --> 0:22:26.480 which almost hit a hundred twenty dollars yesterday, is trading 0:22:26.600 --> 0:22:30.160