WEBVTT - Biden Speaks in Poland and the Four-Day Work Week Gains Support

0:00:03.200 --> 0:00:06.439
<v Speaker 1>Live from the Bloomberg Interactive Burger Studios. This is Bloomberg

0:00:06.519 --> 0:00:10.560
<v Speaker 1>day Break for Tuesday, February one. Coming up today, President

0:00:10.640 --> 0:00:14.480
<v Speaker 1>Biden stops in Poland after yesterday's surprise visit to Ukraine.

0:00:15.040 --> 0:00:19.119
<v Speaker 1>HSBC considers a special payout after profit jumps. Walmart and

0:00:19.200 --> 0:00:22.239
<v Speaker 1>Home Depot report earnings this morning, and results are in

0:00:22.360 --> 0:00:25.840
<v Speaker 1>from the largest ever four day work week trial. New

0:00:25.880 --> 0:00:29.240
<v Speaker 1>quakes in Turkey and Syria have left more dead, plus

0:00:29.280 --> 0:00:32.600
<v Speaker 1>New York Congressman George Santos admits he's a terrible lawyer.

0:00:32.800 --> 0:00:36.120
<v Speaker 1>I'm Michael Barr. More ahead, I'm John Stas shown sports,

0:00:36.159 --> 0:00:39.160
<v Speaker 1>the Rangers lost to Winnipeg. The Islanders one in Pittsburgh

0:00:39.159 --> 0:00:44.240
<v Speaker 1>Bay Yankees held their first full team workout. That's all

0:00:44.280 --> 0:00:47.559
<v Speaker 1>straight ahead on Bloomberg day Break, The Business news you

0:00:47.640 --> 0:00:51.080
<v Speaker 1>need disturb your day, and just one fifteen minute podcast

0:00:51.320 --> 0:00:54.960
<v Speaker 1>each pointing on Apples, Spotify, the Bloomberg Business app and

0:00:55.080 --> 0:01:01.320
<v Speaker 1>everywhere you get your podcasts. Good morning. I'm Nathan Hagar

0:01:01.560 --> 0:01:04.800
<v Speaker 1>and I'm Karin Moscow. Here are the stories we're following today.

0:01:05.280 --> 0:01:09.160
<v Speaker 1>The latest on President Biden's surprise trip to Ukraine. President

0:01:09.319 --> 0:01:12.399
<v Speaker 1>is now in Poland. He'll meet with President Andre Doodap

0:01:12.400 --> 0:01:15.840
<v Speaker 1>and he's scheduled to deliver an address tonight. Amy Morris

0:01:15.840 --> 0:01:20.399
<v Speaker 1>has details from our Bloomberg newsroom in Washington. President Biden

0:01:20.440 --> 0:01:23.039
<v Speaker 1>will use his address in Poland to deliver a message

0:01:23.040 --> 0:01:25.720
<v Speaker 1>to Russia that NATO is stronger than ever united in

0:01:25.760 --> 0:01:29.240
<v Speaker 1>its support of Ukraine. While in Kiev, President Biden said

0:01:29.280 --> 0:01:33.320
<v Speaker 1>his goal was to reaffirm his administration's unwavering and unflagging

0:01:33.360 --> 0:01:38.759
<v Speaker 1>commitment to Ukraine's democracy, sovereignty, and territorial integrity. It's worth

0:01:39.319 --> 0:01:43.840
<v Speaker 1>for as long as it takes. And that's how long

0:01:43.880 --> 0:01:46.399
<v Speaker 1>we're gonna be with you, Mr President, for as long

0:01:46.440 --> 0:01:49.160
<v Speaker 1>as it takes. In his remarks, the President also announced

0:01:49.160 --> 0:01:53.040
<v Speaker 1>an additional half billion dollars in aid for Ukraine in Washington.

0:01:53.160 --> 0:01:55.760
<v Speaker 1>I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you all.

0:01:55.800 --> 0:01:58.040
<v Speaker 1>Turning to the markets now, stocks are lower as you

0:01:58.120 --> 0:02:01.120
<v Speaker 1>begin a shortened trading week, and they'll drop even further.

0:02:01.200 --> 0:02:04.720
<v Speaker 1>According to Morgan Stanley, the firm strategist led by Mike Wilson,

0:02:04.800 --> 0:02:07.000
<v Speaker 1>says the S and P five hundred could slide as

0:02:07.080 --> 0:02:10.239
<v Speaker 1>much as in the first half of this year. Wilson,

0:02:10.280 --> 0:02:12.880
<v Speaker 1>you correctly predicted the sell off in stocks last year,

0:02:13.160 --> 0:02:16.399
<v Speaker 1>says recent economic data suggests the economy might be able

0:02:16.440 --> 0:02:18.720
<v Speaker 1>to dodge your a session, but that has also taken

0:02:18.760 --> 0:02:21.280
<v Speaker 1>the possibility of a FED pivot off the table, and

0:02:21.440 --> 0:02:24.079
<v Speaker 1>Goldman Sachs also doesn't see a FED pivot this year.

0:02:24.160 --> 0:02:27.240
<v Speaker 1>Karen Chief economist John Hatzius sees the Central Bank raising

0:02:27.280 --> 0:02:29.960
<v Speaker 1>interest rates by twenty five basis points. That it's March,

0:02:30.120 --> 0:02:34.520
<v Speaker 1>May and June meetings. We've seen some higher inflation numbers

0:02:34.520 --> 0:02:38.560
<v Speaker 1>for January. I don't necessarily think that that breaks the

0:02:38.600 --> 0:02:41.400
<v Speaker 1>trend towards this inflation, but I think it reinforces the

0:02:41.440 --> 0:02:44.120
<v Speaker 1>idea that the FED still has work to do, and

0:02:44.200 --> 0:02:47.360
<v Speaker 1>so we think another seventy five basis points from here

0:02:47.680 --> 0:02:51.280
<v Speaker 1>with no cuts until two thousand and twenty four seems

0:02:51.320 --> 0:02:54.480
<v Speaker 1>like a more likely outcome. Goldman Chief economist John Hatzius

0:02:54.520 --> 0:02:57.320
<v Speaker 1>is skeptical that the FED will return to larger fifty

0:02:57.360 --> 0:03:01.520
<v Speaker 1>basis point hikes. Bank earnings also in Bocus overseas this morning,

0:03:01.560 --> 0:03:05.920
<v Speaker 1>Nathan HSBC reported profit above estimates. The lender also said

0:03:06.120 --> 0:03:08.920
<v Speaker 1>it will consider a special payout after the ten billion

0:03:08.919 --> 0:03:12.440
<v Speaker 1>dollar sale of its Canadian unit. Speaking to Bloomberg, HSBC

0:03:12.680 --> 0:03:15.919
<v Speaker 1>is CEO nol Quinn also gave an upbeat assessment of

0:03:15.960 --> 0:03:18.720
<v Speaker 1>the British economy. We're not seeing any major signs of

0:03:18.760 --> 0:03:21.880
<v Speaker 1>stress at the moment in our retail business. Uh, it's

0:03:21.960 --> 0:03:26.079
<v Speaker 1>it's in relatively normal territory. In our wholesale and commercial

0:03:26.120 --> 0:03:29.040
<v Speaker 1>banking business. I think there are some corporates that are

0:03:29.080 --> 0:03:31.680
<v Speaker 1>starting to feel some cash flow pressure because of hiring,

0:03:31.720 --> 0:03:36.440
<v Speaker 1>inflation on higher interest rates, but again that's still fairly marginal,

0:03:36.560 --> 0:03:40.080
<v Speaker 1>I would say at the moment. For us HSBC CEO

0:03:40.240 --> 0:03:42.800
<v Speaker 1>Noel Quinn says the bonus pool for the bank has

0:03:42.800 --> 0:03:45.520
<v Speaker 1>been cut to three point three six billion dollars, down

0:03:45.560 --> 0:03:48.160
<v Speaker 1>from three and a half billion last year. The world's

0:03:48.160 --> 0:03:51.760
<v Speaker 1>biggest mining company has posted profit that fell short of estimates.

0:03:51.880 --> 0:03:55.400
<v Speaker 1>B HP is also cutting its dividend after sluggish demand

0:03:55.400 --> 0:03:58.680
<v Speaker 1>for iron, copper and call. However, CEO Mike Henry is

0:03:58.720 --> 0:04:01.680
<v Speaker 1>optimistic going forward. We're seeing the green shoots come through

0:04:01.720 --> 0:04:04.800
<v Speaker 1>since the start of this calendar year. Increased mobility figures,

0:04:05.200 --> 0:04:09.560
<v Speaker 1>more bank lending, improved business sentiment, property prices up in

0:04:09.600 --> 0:04:15.080
<v Speaker 1>some cities, so that kind of reinforces the positive outlook

0:04:15.080 --> 0:04:17.640
<v Speaker 1>for the that we have for the year ahead. Which

0:04:17.680 --> 0:04:20.679
<v Speaker 1>we expect to offset slowing growth in both the US

0:04:20.800 --> 0:04:24.040
<v Speaker 1>and Europe. B HP CEO Mike Henry says he's also

0:04:24.040 --> 0:04:27.240
<v Speaker 1>optimistic about a demand recovery in China. B HP shares

0:04:27.360 --> 0:04:30.440
<v Speaker 1>right now are down nearly three percent. In London, shares

0:04:30.440 --> 0:04:32.919
<v Speaker 1>a Credit Suite at a record load this morning, Nathan.

0:04:32.960 --> 0:04:36.520
<v Speaker 1>The drop comes as Reuter's reports at Switzerland's financial regulator

0:04:36.600 --> 0:04:40.160
<v Speaker 1>is reviewing comments from a Bloomberg interview. It's looking at

0:04:40.160 --> 0:04:43.160
<v Speaker 1>part of a conversation where Chairman Actual Lehman set outflows

0:04:43.160 --> 0:04:45.640
<v Speaker 1>from Credit Suite of stabilized. And here's what he said

0:04:45.680 --> 0:04:48.960
<v Speaker 1>from that interview in December. Doubt was basically have stopped.

0:04:48.960 --> 0:04:52.599
<v Speaker 1>What we saw is two three weeks in October womb

0:04:52.920 --> 0:04:55.800
<v Speaker 1>and since then flattening out, they have stopped. It's gradually

0:04:55.800 --> 0:04:58.960
<v Speaker 1>coming back, and particular in Switzerland, and that's Credit Swite

0:04:59.000 --> 0:05:02.200
<v Speaker 1>chairman Actually Lehman speaking to Bloomberg in December. So far,

0:05:02.320 --> 0:05:06.200
<v Speaker 1>both Switzerland's financial regulator and Credit Suite are declining to

0:05:06.279 --> 0:05:09.119
<v Speaker 1>comment on Reuter's report. Well back here the US Karen

0:05:09.200 --> 0:05:11.800
<v Speaker 1>retail will be in focus this morning. Is both Walmart

0:05:11.880 --> 0:05:14.520
<v Speaker 1>and Home Depot report earnings. Let's get a preview of

0:05:14.520 --> 0:05:18.520
<v Speaker 1>Walmart's results now with Bloomberg's Jeff Ballinger. Walmart's own guidance

0:05:18.560 --> 0:05:21.039
<v Speaker 1>for the fourth quarter was for a same store sales

0:05:21.080 --> 0:05:25.080
<v Speaker 1>gain of around three percent. Bloomberg Intelligence says the giant

0:05:25.120 --> 0:05:28.359
<v Speaker 1>retailer had a solid holiday season and sales may have

0:05:28.440 --> 0:05:32.680
<v Speaker 1>exceeded the forecast as consumers look for value. Walmart has

0:05:32.680 --> 0:05:36.360
<v Speaker 1>said it's adjusted profit likely declined because labor and other

0:05:36.440 --> 0:05:39.560
<v Speaker 1>costs remain high, but the company has been pushing back

0:05:39.600 --> 0:05:43.559
<v Speaker 1>on further price increases by suppliers. Discounts and a shift

0:05:43.600 --> 0:05:46.520
<v Speaker 1>in the consumer spending mixed toward more food and less

0:05:46.560 --> 0:05:50.520
<v Speaker 1>general merchandise may have caused a small contraction in gross margin.

0:05:51.040 --> 0:05:54.200
<v Speaker 1>Jeff Bollinger, Bloomberg day Break, Right, Jeff, thanks well over

0:05:54.240 --> 0:05:56.520
<v Speaker 1>in the UK, results are in from the largest ever

0:05:56.720 --> 0:05:59.080
<v Speaker 1>trial of the four day work week, and we go

0:05:59.120 --> 0:06:01.360
<v Speaker 1>live to London and get the details from Bloomberg's You

0:06:01.480 --> 0:06:04.200
<v Speaker 1>in Parts. Good Morning, You in Good morning Karen Nathan,

0:06:04.200 --> 0:06:07.280
<v Speaker 1>how do you fancy a permanently shorter working week? While

0:06:07.320 --> 0:06:10.240
<v Speaker 1>the world's biggest ever trial of a four day work

0:06:10.240 --> 0:06:12.680
<v Speaker 1>week has found that most companies say they don't plan

0:06:12.760 --> 0:06:15.680
<v Speaker 1>to return to the five day standards. The UK study

0:06:15.760 --> 0:06:19.840
<v Speaker 1>involves sixty organizations and nearly three thousand workers compressing their

0:06:19.839 --> 0:06:23.240
<v Speaker 1>normal week into fewer days. When employees were asked about

0:06:23.240 --> 0:06:25.919
<v Speaker 1>returning to the old schedule, one in six said that

0:06:26.000 --> 0:06:28.240
<v Speaker 1>no amount of money will be enough to persuade them

0:06:28.279 --> 0:06:31.120
<v Speaker 1>to go back. In London working a five day work week,

0:06:31.279 --> 0:06:35.159
<v Speaker 1>I'm you in parts day break, Thanks you and local headlines.

0:06:35.160 --> 0:06:41.599
<v Speaker 1>Straight ahead, This is Bloomberg. Thirty eight degrees in New York.

0:06:41.600 --> 0:06:44.120
<v Speaker 1>Scattered showers this morning. They'll be back late this afternoon

0:06:44.120 --> 0:06:45.840
<v Speaker 1>as well as we head to near fifty degrees. Will

0:06:45.839 --> 0:06:47.719
<v Speaker 1>clear out late tonight, get down to the mid thirties.

0:06:48.000 --> 0:06:49.320
<v Speaker 1>Time Now for a look at some of the other

0:06:49.360 --> 0:06:51.440
<v Speaker 1>stories making news in New York and around the world,

0:06:51.440 --> 0:06:54.320
<v Speaker 1>with Bloomberg's Michael Bark. Good morning, Michael, Good morning Nathan.

0:06:54.320 --> 0:06:57.440
<v Speaker 1>A pair of earthquakes, including a six point for magnitude,

0:06:57.800 --> 0:07:03.440
<v Speaker 1>struck Turkeys Southeastern Province, two weeks after major tremors in

0:07:03.480 --> 0:07:06.040
<v Speaker 1>the same area left tens of thousands of people dead.

0:07:06.520 --> 0:07:09.039
<v Speaker 1>Three people were killed and more than two hundred taken

0:07:09.040 --> 0:07:12.680
<v Speaker 1>to hospitals after the quakes on Monday evening. Around one

0:07:12.720 --> 0:07:16.040
<v Speaker 1>point six million people are currently housed in temporary shelters

0:07:16.080 --> 0:07:19.520
<v Speaker 1>from the quakes. Starting two weeks ago, the tensions between

0:07:19.560 --> 0:07:21.760
<v Speaker 1>the US and China have eat it up even more

0:07:22.000 --> 0:07:25.240
<v Speaker 1>over the long weekend. Bloomberg's that Baxter as the story,

0:07:25.640 --> 0:07:28.720
<v Speaker 1>both in words and actions. President Biden's surprise trip to

0:07:28.800 --> 0:07:31.720
<v Speaker 1>Ukraine and comments saying that China must not form an

0:07:31.720 --> 0:07:35.640
<v Speaker 1>alliance with Russia regarding the invasion tied to China's top

0:07:35.680 --> 0:07:38.920
<v Speaker 1>diplomat going to meet Russian leaders in Moscow and shin

0:07:39.000 --> 0:07:42.880
<v Speaker 1>Wa publishing a long piece criticizing US policy, saying the

0:07:43.000 --> 0:07:47.239
<v Speaker 1>US misbehaves from military to cultural. It says the US

0:07:47.360 --> 0:07:50.880
<v Speaker 1>embeds its values in products. This not even to mention

0:07:50.920 --> 0:07:54.720
<v Speaker 1>the US congressional delegation in Taiwan meeting with President sighing

0:07:54.840 --> 0:07:58.600
<v Speaker 1>when in San Francisco, I'm at Baxter Bloomberg Daybreak. He's

0:07:58.680 --> 0:08:02.120
<v Speaker 1>under investigation by low coal, state and federal lawmakers over

0:08:02.120 --> 0:08:07.040
<v Speaker 1>a suspected campaign finance violations. New York Republican Congressman George

0:08:07.040 --> 0:08:11.800
<v Speaker 1>Santos has gotten criticisms from everyday Americans for lying about

0:08:11.920 --> 0:08:15.119
<v Speaker 1>his past. Well, I've been a terrible liar. This wasn't

0:08:15.120 --> 0:08:21.000
<v Speaker 1>about tricking anybody, This wasn't about this it's it's no, no, no, no,

0:08:21.280 --> 0:08:24.240
<v Speaker 1>let me. It was about tricking. Let me finish. It

0:08:24.320 --> 0:08:27.400
<v Speaker 1>wasn't about tricking to the people. This was about getting

0:08:27.480 --> 0:08:31.680
<v Speaker 1>accepted by the party. Here local the Long Island Republicans

0:08:31.680 --> 0:08:35.679
<v Speaker 1>spoke to talk TV host Pierce Morgan. The NYPD continues

0:08:35.720 --> 0:08:38.520
<v Speaker 1>to search for the man who vandalized a mobile synagogue

0:08:38.520 --> 0:08:41.800
<v Speaker 1>in Manhattan. The van was parked near Broadway and Prince Street.

0:08:42.040 --> 0:08:46.080
<v Speaker 1>Authorities released video of a man riding Palestine on the

0:08:46.120 --> 0:08:50.320
<v Speaker 1>outside of a mobile Mitzvah tank. Police say the Hate

0:08:50.360 --> 0:08:54.160
<v Speaker 1>Crimes Task Force is investigating the incident. Authorities in a

0:08:54.200 --> 0:08:56.920
<v Speaker 1>New Jersey school district have announced new managures aimed at

0:08:56.920 --> 0:08:59.960
<v Speaker 1>stemming violence following a stabbing outside of high school last week.

0:09:00.280 --> 0:09:04.000
<v Speaker 1>They killed a teenager and wounded another. Patterson Public Schools

0:09:04.040 --> 0:09:08.559
<v Speaker 1>said that police had agreed to provide walking police patrols

0:09:08.600 --> 0:09:12.120
<v Speaker 1>on streets around Patterson's East Side High School from two

0:09:12.120 --> 0:09:15.040
<v Speaker 1>pm to four pm. Global News twenty four hours a

0:09:15.120 --> 0:09:17.880
<v Speaker 1>day on air and on Bloomberg Quick Take, powered by

0:09:17.880 --> 0:09:20.520
<v Speaker 1>more than twenty seven hundred journalist an analysts in over

0:09:20.559 --> 0:09:23.400
<v Speaker 1>a hundred twenty countries. I'm Michael bar This is Bloomberg Nathan.

0:09:23.440 --> 0:09:30.280
<v Speaker 1>Thank you, Michael time for the Bloomberg Sports update brought

0:09:30.320 --> 0:09:32.240
<v Speaker 1>to you by Trice State Outy. For that, we're bringing

0:09:32.320 --> 0:09:35.400
<v Speaker 1>John stash Our, Thanks Nathan. Rangers back home. They came

0:09:35.400 --> 0:09:37.280
<v Speaker 1>into the Garden red hot seven oh and one of

0:09:37.280 --> 0:09:38.959
<v Speaker 1>the last eight games. He had a big edge and

0:09:39.040 --> 0:09:43.000
<v Speaker 1>shots on goldbo Winnipeg goalie Connor Hellabuck made fifty says

0:09:43.080 --> 0:09:45.600
<v Speaker 1>Mark Sifey scored twice the Jets one four to one

0:09:45.960 --> 0:09:48.440
<v Speaker 1>first regulation lost with the Rangers in the January nine.

0:09:48.760 --> 0:09:52.040
<v Speaker 1>Islanders had a big comeback this past Friday against the Penguins.

0:09:52.040 --> 0:09:54.400
<v Speaker 1>They did it again in Pittsburgh. They trailed third period.

0:09:54.520 --> 0:09:57.240
<v Speaker 1>Penguins bring it to the nearest side, Balcon dangerously in

0:09:57.240 --> 0:09:59.240
<v Speaker 1>front of his net for Joseph quips it off the

0:09:59.280 --> 0:10:01.800
<v Speaker 1>glass fars but turned it over. Here's more that through

0:10:01.840 --> 0:10:08.560
<v Speaker 1>the right circle. Shop An let's sit home from the

0:10:08.679 --> 0:10:13.040
<v Speaker 1>right circle and has tied this game at Chris k

0:10:13.240 --> 0:10:16.080
<v Speaker 1>to r h ut go for Horvath in New Islander

0:10:16.120 --> 0:10:18.240
<v Speaker 1>and two minutes later and there's least going his twenty

0:10:18.360 --> 0:10:20.120
<v Speaker 1>second of the year the Isles one four to two.

0:10:20.120 --> 0:10:23.240
<v Speaker 1>College Roops twenty win for Duke in this first season

0:10:23.240 --> 0:10:26.720
<v Speaker 1>without my succesty Duke beat Louisville, whose record is four

0:10:26.760 --> 0:10:29.439
<v Speaker 1>and twenty four. Kansas won the n c AS last year.

0:10:29.440 --> 0:10:31.679
<v Speaker 1>They could do it again. Jay Opson ranked third. They

0:10:31.679 --> 0:10:34.400
<v Speaker 1>want at TCU Houston at twenty five and two ranked

0:10:34.480 --> 0:10:37.520
<v Speaker 1>number one the third different time. Russell Westbrook been all

0:10:37.520 --> 0:10:39.640
<v Speaker 1>those years at Oklahoma City. He's been bouncing around the

0:10:39.760 --> 0:10:42.760
<v Speaker 1>NBA lately. He was with the Lakers, got traded to Utah,

0:10:42.880 --> 0:10:45.040
<v Speaker 1>got bought out there. Westbrook will now signed with the

0:10:45.200 --> 0:10:48.000
<v Speaker 1>l A Clippers. And Patrick Beverley also was a Laker,

0:10:48.040 --> 0:10:50.760
<v Speaker 1>and he seems headed now to Chicago. Jana Sons of

0:10:50.760 --> 0:10:52.599
<v Speaker 1>the Compo came to New York for an exam on

0:10:52.720 --> 0:10:56.000
<v Speaker 1>his injured risk. He's got a spring ligament, full Yankee

0:10:56.000 --> 0:10:59.520
<v Speaker 1>squad workout in Tampa. So Aaron Judges first press conference,

0:10:59.559 --> 0:11:02.720
<v Speaker 1>he was asked about another sixty two home run season.

0:11:02.800 --> 0:11:05.680
<v Speaker 1>Judge said, you can never know. John Stash Allen Conberg

0:11:05.760 --> 0:11:11.200
<v Speaker 1>Sports live from coast to coast, from New York to

0:11:11.280 --> 0:11:16.080
<v Speaker 1>San Francisco, Boston to Washington, d C. Nationwide on Sirius XAMP,

0:11:16.120 --> 0:11:19.720
<v Speaker 1>the Bloomberg Business app, and Bloomberg dot Com. This is

0:11:19.760 --> 0:11:24.400
<v Speaker 1>Bloomberg Daybreak. Good morning. I'm Nathan Hagar. President Biden will

0:11:24.400 --> 0:11:26.520
<v Speaker 1>be looking to build on his surprise wartime trip to

0:11:26.679 --> 0:11:29.400
<v Speaker 1>Kiv when he meets today with the President of Poland

0:11:29.400 --> 0:11:32.079
<v Speaker 1>and gives a major speech in Warsaw to market year

0:11:32.120 --> 0:11:35.400
<v Speaker 1>since Russia's invasion of Ukraine. Meantime, the President of Russia,

0:11:35.480 --> 0:11:37.920
<v Speaker 1>Vladimir Putin is vowing to press on with his faltering

0:11:37.960 --> 0:11:41.320
<v Speaker 1>invasion until Russia's goals are achieved. Putin is giving a

0:11:41.360 --> 0:11:44.520
<v Speaker 1>speech of his own to parliament in Moscow. Right now.

0:11:44.840 --> 0:11:48.520
<v Speaker 1>We're joined live at the meantime by Bloomberg Warsaw Bureau

0:11:48.600 --> 0:11:52.360
<v Speaker 1>chief Pyotr Skalamowski as these two leaders get set to

0:11:52.400 --> 0:11:57.080
<v Speaker 1>address their domestic audiences and the world. Really, Pyotr, good morning.

0:11:57.320 --> 0:11:59.600
<v Speaker 1>What is standing out to you? First off, from what

0:11:59.760 --> 0:12:03.640
<v Speaker 1>the Russian president is saying as we head towards year

0:12:03.679 --> 0:12:08.120
<v Speaker 1>two of the war in Ukraine. Hi, indeed, so it's

0:12:08.120 --> 0:12:10.960
<v Speaker 1>obviously probably not a big surprise, but putting it has

0:12:11.000 --> 0:12:14.640
<v Speaker 1>struck a very defiant note. So he obviously more or

0:12:14.720 --> 0:12:18.040
<v Speaker 1>less doubles down on on what he's been telling the

0:12:18.080 --> 0:12:21.480
<v Speaker 1>world since the war since his invasion actually started a

0:12:21.520 --> 0:12:23.920
<v Speaker 1>year ago. First of all, he said that you know

0:12:24.080 --> 0:12:27.960
<v Speaker 1>this is this is go. He will solve what he

0:12:28.040 --> 0:12:32.920
<v Speaker 1>called the task step by step carefully and consistently, meaning

0:12:33.240 --> 0:12:37.920
<v Speaker 1>he's preparing his his population also for a for a

0:12:37.960 --> 0:12:40.680
<v Speaker 1>long war. This is not going to end very quickly.

0:12:40.720 --> 0:12:46.200
<v Speaker 1>And obviously he repeated the the phrase that he was before,

0:12:46.240 --> 0:12:48.800
<v Speaker 1>which was also kind of served as a as the

0:12:48.840 --> 0:12:51.280
<v Speaker 1>purpose for the war previously, that you know, the Russia

0:12:51.360 --> 0:12:56.040
<v Speaker 1>is finding for for for historic lands, describing Ukraine as

0:12:55.880 --> 0:12:59.160
<v Speaker 1>as as part of the of the Russia historically. Um.

0:12:59.480 --> 0:13:02.520
<v Speaker 1>So we more or less hearing more of the same

0:13:02.600 --> 0:13:06.440
<v Speaker 1>from Putting and an indication that he has not done,

0:13:06.559 --> 0:13:10.600
<v Speaker 1>if anything, he's ready to go um go there for

0:13:10.640 --> 0:13:13.960
<v Speaker 1>a long haul. So, given that we're not hearing much

0:13:14.080 --> 0:13:17.199
<v Speaker 1>different from the Russian president right now, are you expecting

0:13:17.360 --> 0:13:20.480
<v Speaker 1>that the remarks that we're hearing from Moscow are going

0:13:20.480 --> 0:13:22.880
<v Speaker 1>to affect what President Biden has to say at all

0:13:23.320 --> 0:13:28.280
<v Speaker 1>when he delivers his speech in Warsaw later this evening. Well, well,

0:13:28.280 --> 0:13:31.079
<v Speaker 1>we heard from Jake Sullivan he was briefing reporters here

0:13:31.080 --> 0:13:35.320
<v Speaker 1>in Warsaw. He said that obviously Biden's remarks are not

0:13:35.400 --> 0:13:40.240
<v Speaker 1>going to um to be directly, uh, won't be a

0:13:40.320 --> 0:13:42.960
<v Speaker 1>direct response to what Putt inside and his his his

0:13:43.040 --> 0:13:47.000
<v Speaker 1>remarks will be broked. But obviously it's it's hard to um,

0:13:47.040 --> 0:13:49.320
<v Speaker 1>you know, to to not to compare these two speeches.

0:13:49.360 --> 0:13:52.400
<v Speaker 1>But obviously the message that we're going to get from

0:13:52.600 --> 0:13:55.640
<v Speaker 1>from Biden most likely will be, uh, sort of the

0:13:55.720 --> 0:13:57.640
<v Speaker 1>echo what he heard from what we heard from him

0:13:57.640 --> 0:14:01.640
<v Speaker 1>in Kiev, which is, you know, um, the West State

0:14:01.679 --> 0:14:04.080
<v Speaker 1>it stands united, So the NATO is together, so the

0:14:04.120 --> 0:14:10.240
<v Speaker 1>war has has actually united um, the Western NATO, and

0:14:10.240 --> 0:14:12.199
<v Speaker 1>and that the US is there for a long hall

0:14:12.280 --> 0:14:14.959
<v Speaker 1>as well. Um. Something that he said in Ukraine was

0:14:15.400 --> 0:14:18.480
<v Speaker 1>you know, the US is therefore as long as it

0:14:18.520 --> 0:14:23.080
<v Speaker 1>takes for Ukraine to to become independent. And he also

0:14:23.120 --> 0:14:26.000
<v Speaker 1>stressed that, you know, the the Ukraine was supposed to

0:14:26.040 --> 0:14:30.840
<v Speaker 1>fall within days. Now Ukraine's Ukraine stands, Kiev stands, and

0:14:30.960 --> 0:14:34.400
<v Speaker 1>what he said, democracy stands. So we can sort of

0:14:34.480 --> 0:14:37.040
<v Speaker 1>imagine this is going to be the sort of the

0:14:37.120 --> 0:14:40.520
<v Speaker 1>narrative we're going to hear this, you know, this president

0:14:40.840 --> 0:14:47.920
<v Speaker 1>representing the democracy and and Putting representing the autocracy. Given

0:14:48.000 --> 0:14:51.040
<v Speaker 1>that image that we saw over the weekend of President Biden,

0:14:51.120 --> 0:14:54.320
<v Speaker 1>you know, standing side by side with Ukrainian President Zelenski

0:14:54.440 --> 0:14:57.680
<v Speaker 1>and walking through key of his air raid sirens blared.

0:14:57.760 --> 0:15:00.880
<v Speaker 1>What message does that send to Europe he and allies?

0:15:01.040 --> 0:15:05.280
<v Speaker 1>And can the President capitalize on that in the speech tonight?

0:15:06.240 --> 0:15:09.320
<v Speaker 1>Absolutely obviously, you know, as anything with this conflict that

0:15:09.480 --> 0:15:12.800
<v Speaker 1>it's obviously for for for history books. But you know

0:15:12.840 --> 0:15:15.800
<v Speaker 1>the fact that the U. S. President goes into conflict

0:15:15.880 --> 0:15:18.840
<v Speaker 1>zone in a place where there are no U S. Basis,

0:15:19.400 --> 0:15:23.440
<v Speaker 1>no actual military presence, is you know, speaks volumes right,

0:15:23.480 --> 0:15:26.680
<v Speaker 1>it's it's and it and it was not just fly

0:15:26.800 --> 0:15:29.800
<v Speaker 1>in and out. It's it was a ten hour trip

0:15:29.880 --> 0:15:32.760
<v Speaker 1>by train through the conflict zone. So it's it's a

0:15:32.840 --> 0:15:37.000
<v Speaker 1>major message of defiance. And I think it kind of

0:15:37.040 --> 0:15:40.760
<v Speaker 1>builds up the momentum for this speech. Um. So if

0:15:40.800 --> 0:15:43.480
<v Speaker 1>if anyone doubts the words that the Biden is going

0:15:43.520 --> 0:15:46.800
<v Speaker 1>to deliver that there is there's confident, there's there's defiance,

0:15:47.120 --> 0:15:48.840
<v Speaker 1>you know, he can just point out to what he

0:15:48.880 --> 0:15:53.200
<v Speaker 1>has just done, um that you know, the the fact

0:15:53.240 --> 0:15:55.800
<v Speaker 1>that you know, he he's been there, he's shown support,

0:15:55.920 --> 0:15:58.760
<v Speaker 1>is you know, speaks volumes um as well as you

0:15:58.760 --> 0:16:02.520
<v Speaker 1>know all the commitments because obviously, um Biden also promised

0:16:02.600 --> 0:16:06.440
<v Speaker 1>additional help. I mean one thing there obviously is that

0:16:06.600 --> 0:16:11.320
<v Speaker 1>this helper might not be as as substantial as Ukraine

0:16:11.400 --> 0:16:14.360
<v Speaker 1>was hoping for, because they're obviously pushing for for fighter

0:16:14.480 --> 0:16:17.960
<v Speaker 1>jets right now there's no approval of that, but um

0:16:18.000 --> 0:16:20.960
<v Speaker 1>at least you know there's additional help and and there's

0:16:21.000 --> 0:16:23.120
<v Speaker 1>a sense that the US will will be there for

0:16:23.240 --> 0:16:27.600
<v Speaker 1>long haul. This is Bloomberg day Break Today, your morning

0:16:27.640 --> 0:16:30.120
<v Speaker 1>brief on the story is making news from Wall Street

0:16:30.160 --> 0:16:33.479
<v Speaker 1>to Washington and beyond. Look for us on your podcast

0:16:33.560 --> 0:16:37.360
<v Speaker 1>feed at six am Eastern each morning, on Apple, Spotify,

0:16:37.480 --> 0:16:40.400
<v Speaker 1>and anywhere else you get your podcasts. You can also

0:16:40.480 --> 0:16:43.440
<v Speaker 1>listen live each morning starting at five am Wall Street

0:16:43.480 --> 0:16:46.479
<v Speaker 1>time on Bloomberg eleven three oh in New York, Bloomberg

0:16:47.280 --> 0:16:50.400
<v Speaker 1>in Washington, Bloomberg one oh six one in Boston, and

0:16:50.480 --> 0:16:54.320
<v Speaker 1>Bloomberg nine six in San Francisco. Our flagship New York

0:16:54.360 --> 0:16:58.440
<v Speaker 1>station is also available on your Amazon Alexa devices. Just

0:16:58.520 --> 0:17:02.600
<v Speaker 1>say Alexa play Blue Mberg Even Plus listen coast to

0:17:02.640 --> 0:17:06.160
<v Speaker 1>coast on the Bloomberg Business app, Sirius XM Channel one nine,

0:17:06.520 --> 0:17:09.560
<v Speaker 1>the I Heart Radio app, and on Bloomberg dot Com.

0:17:09.600 --> 0:17:12.720
<v Speaker 1>I'm Nathan Hager, Andy, I'm Karen Moscow. Join us again,

0:17:12.760 --> 0:17:15.520
<v Speaker 1>tomorrow morning. For all the news you need to start

0:17:15.560 --> 0:17:18.160
<v Speaker 1>your day right here on Bloomberg Daybreak