1 00:00:02,920 --> 00:00:04,920 Speaker 1: Thanks. Karen's five oh seven on Wall Street. Were at 2 00:00:04,960 --> 00:00:07,720 Speaker 1: sixty five degrees in Central Park and we've got the 3 00:00:07,800 --> 00:00:12,039 Speaker 1: overnight construction starting to clear out and Van George Washington Bridge. 4 00:00:12,160 --> 00:00:15,040 Speaker 1: We'll see how your rides looking shortly. First, John Tuckers 5 00:00:15,080 --> 00:00:16,919 Speaker 1: here with what else is going on in New York 6 00:00:17,120 --> 00:00:19,440 Speaker 1: and around the world. Good morning, John and Nathan. Governor 7 00:00:19,480 --> 00:00:23,240 Speaker 1: Kathy Hokel has lifted the state's mass requirement for public transit, 8 00:00:23,680 --> 00:00:26,360 Speaker 1: removing one of the last remaining government mandates of the 9 00:00:26,360 --> 00:00:30,960 Speaker 1: COVID nineteen pandemic. Watching global trends, we're watching for variance, 10 00:00:31,280 --> 00:00:33,839 Speaker 1: We're watching for any updates and vaccines. But we do 11 00:00:33,920 --> 00:00:36,600 Speaker 1: believe that we're in a good place right now, especially 12 00:00:36,640 --> 00:00:40,800 Speaker 1: if New Yorker's take advantage of this BOOSTERCOL making the 13 00:00:40,800 --> 00:00:45,240 Speaker 1: announcement before receiving the omacron specific booster. Mass will still 14 00:00:45,280 --> 00:00:49,120 Speaker 1: be mandatory and healthcare settings and at adult care facilities. 15 00:00:49,760 --> 00:00:53,159 Speaker 1: Uber will begin rolling out yellow taxi riots in New 16 00:00:53,240 --> 00:00:56,520 Speaker 1: York City. More in this report from Bloomberg's Jeff Bellinger. 17 00:00:56,960 --> 00:00:59,160 Speaker 1: It's a long away to effort to help these a 18 00:00:59,240 --> 00:01:02,560 Speaker 1: driver short of gen pressure on fairs, the Big Apple's 19 00:01:02,720 --> 00:01:05,480 Speaker 1: iconic yellow cabs have started to appear on the ride 20 00:01:05,520 --> 00:01:09,040 Speaker 1: hailing platform for a randomized majority of active New York 21 00:01:09,080 --> 00:01:12,440 Speaker 1: City writers, allowing them to book trips and taxis through 22 00:01:12,520 --> 00:01:15,960 Speaker 1: the Uber app. Under an agreement, Uber customers can hail 23 00:01:16,000 --> 00:01:18,640 Speaker 1: a taxi at the same price as an Uber x, 24 00:01:18,880 --> 00:01:22,000 Speaker 1: and they'll see the fair upfront before requesting a trip. 25 00:01:22,319 --> 00:01:25,520 Speaker 1: Driver's earnings will initially be based on the City Taxi 26 00:01:25,520 --> 00:01:28,959 Speaker 1: and Limousine Commission mandated rates, which are close to thirty 27 00:01:28,959 --> 00:01:33,240 Speaker 1: two dollars an hour. Jeff Bellinger, Bloomberg Debrate Abortion remains 28 00:01:33,319 --> 00:01:37,200 Speaker 1: legal in Michigan after a judge permanently blocked enforcement of 29 00:01:37,240 --> 00:01:39,720 Speaker 1: a ninety one year old band that could have become 30 00:01:39,800 --> 00:01:44,080 Speaker 1: law following the Supreme Court's decision to overturn Roe versus Wade. 31 00:01:44,400 --> 00:01:46,680 Speaker 1: The band, which was opposed in a suffer lawsuit by 32 00:01:46,720 --> 00:01:50,480 Speaker 1: Governor Gretchen Whitmer, was on hold after a temporary ruling. 33 00:01:51,000 --> 00:01:53,600 Speaker 1: President Biden will host a call with allies today about 34 00:01:53,560 --> 00:01:57,600 Speaker 1: the next steps in support of Ukraine against Russian invasion. Meantime, 35 00:01:57,640 --> 00:02:01,480 Speaker 1: the Pentagon has sent Ukraine it's most accurate artillery shell, 36 00:02:01,920 --> 00:02:04,960 Speaker 1: the GPS got an ex caliber as satellite gut it 37 00:02:05,040 --> 00:02:07,800 Speaker 1: weapon it get hit within seven ft of its target. 38 00:02:08,080 --> 00:02:10,400 Speaker 1: The ex caliber was first used in a rack in 39 00:02:10,560 --> 00:02:13,840 Speaker 1: two thousand seven in the high profile killing of an 40 00:02:13,840 --> 00:02:17,680 Speaker 1: al Qaeda leader, and California's power grid once again didn't 41 00:02:17,720 --> 00:02:20,639 Speaker 1: break despite being stretched to the limit as a punishing 42 00:02:20,639 --> 00:02:23,480 Speaker 1: heat wave continues to test the state's ability to keep 43 00:02:23,520 --> 00:02:26,840 Speaker 1: the lights on well. Today promises to be another ten standoff, 44 00:02:26,880 --> 00:02:29,440 Speaker 1: with the man forecast near a record high and the 45 00:02:29,480 --> 00:02:35,160 Speaker 1: California Independent System Operator already declaring an emergency. Watch Global 46 00:02:35,200 --> 00:02:37,160 Speaker 1: News twenty four hours a day on the air and 47 00:02:37,280 --> 00:02:40,160 Speaker 1: on Bloomberg Quicktake. We're powered by more than seven hundred 48 00:02:40,200 --> 00:02:43,400 Speaker 1: journalists and the analysts it more than one hundred twenty countries. 49 00:02:43,600 --> 00:02:46,280 Speaker 1: I'm John Tucker. This is Bloomberg. Nathan. Thank you, John. 50 00:02:50,720 --> 00:02:52,440 Speaker 1: Come into five ten on Wall Street time for the 51 00:02:52,480 --> 00:02:55,320 Speaker 1: Bloomberg Sports Up. Tad, Good morning, John's good morning, Nathan. 52 00:02:55,400 --> 00:02:57,519 Speaker 1: Let's play two Matts and Yankees both made up of 53 00:02:57,560 --> 00:03:00,080 Speaker 1: rain out with double headers, and both had sweep with 54 00:03:00,160 --> 00:03:02,240 Speaker 1: had their aces on the mound for the Nightcaps and 55 00:03:02,320 --> 00:03:04,760 Speaker 1: provided them with plenty of offense. And that's not normally 56 00:03:04,800 --> 00:03:07,400 Speaker 1: the case when Jacob deGrom pitches, but the Grama the 57 00:03:07,440 --> 00:03:09,880 Speaker 1: Mets beat the Pirates tend to nothing after taking the 58 00:03:09,919 --> 00:03:12,040 Speaker 1: opener five to one. Is a good news on the field, 59 00:03:12,360 --> 00:03:14,360 Speaker 1: not as good offen as Max Schers. It was placed 60 00:03:14,360 --> 00:03:16,760 Speaker 1: on the injured list with that eighty side at the stadium. 61 00:03:16,800 --> 00:03:18,799 Speaker 1: Garrett Cole on the mountain for the second game and 62 00:03:18,840 --> 00:03:21,320 Speaker 1: the Yanks meet the Twins seven to one Isaiah kinder 63 00:03:21,400 --> 00:03:24,760 Speaker 1: Felefa with the grand Slam. The opener included yet another 64 00:03:24,800 --> 00:03:28,720 Speaker 1: home run by you know who, swing on hit in 65 00:03:28,760 --> 00:03:30,720 Speaker 1: there in a deep one. That fall is hot, that 66 00:03:31,040 --> 00:03:39,400 Speaker 1: is far, that is god, It's amazing and I mean, man, absolutely, 67 00:03:39,960 --> 00:03:42,480 Speaker 1: he's done it again. How does he do it? Tend 68 00:03:42,520 --> 00:03:44,840 Speaker 1: Sterling w f a n is now fifty five home 69 00:03:44,920 --> 00:03:47,119 Speaker 1: runs for Aaron Judge. The Yanks won five to four, 70 00:03:47,200 --> 00:03:50,840 Speaker 1: scoring twice in the twelfth inning. And another incredibly late 71 00:03:51,000 --> 00:03:53,480 Speaker 1: night slash early morning at the US Open. Forty eight 72 00:03:53,480 --> 00:03:56,800 Speaker 1: hours after Carlos Alcarez won his fourth round match at 73 00:03:56,800 --> 00:04:00,680 Speaker 1: two twenty three am, Alcarez was back finishing the quarterfinal 74 00:04:00,760 --> 00:04:03,640 Speaker 1: victory over Unique Center at two fifty a m. The 75 00:04:03,640 --> 00:04:06,000 Speaker 1: match went five hours, fifteen minutes, so he's into the 76 00:04:06,000 --> 00:04:09,520 Speaker 1: semis to play Francis tiafo Is doing things no American 77 00:04:09,520 --> 00:04:11,680 Speaker 1: man has done. Sinzani Roddick, Thiafo the first from the 78 00:04:11,720 --> 00:04:14,360 Speaker 1: US to be a Grand Slam semifinalists two thousand nine, 79 00:04:14,840 --> 00:04:16,719 Speaker 1: first to do it at the Open since oh six, 80 00:04:17,080 --> 00:04:20,400 Speaker 1: and Tiafo is the first African American Men's Open semifinalists. 81 00:04:20,600 --> 00:04:23,320 Speaker 1: Arthur nasked fifty years ago, they'll play the women's semifinals 82 00:04:23,320 --> 00:04:25,640 Speaker 1: today in the NFL season picks off tonight in l A, 83 00:04:25,839 --> 00:04:30,280 Speaker 1: Rams and pills. John Stashar Bloomberg Sports. All right, John, 84 00:04:30,320 --> 00:04:34,080 Speaker 1: thank you. SMP futures right now down one point, DAL 85 00:04:34,160 --> 00:04:37,240 Speaker 1: futures down ten nasty futures a little changed to the downside. 86 00:04:37,240 --> 00:04:39,560 Speaker 1: The tenure treasury is up three thirty seconds, the yield 87 00:04:39,640 --> 00:04:43,640 Speaker 1: three point to five percent. You're listening to Bloomberg Daybreak, 88 00:04:47,320 --> 00:04:49,560 Speaker 1: Bloomberg eleven three oh. They're mostly sunny with a high 89 00:04:49,600 --> 00:04:52,080 Speaker 1: near eighty. Today, will be in the low eighties with 90 00:04:52,320 --> 00:04:57,200 Speaker 1: sunshine starting tomorrow and all weekend long. Actually right now 91 00:04:57,279 --> 00:05:03,320 Speaker 1: at sixty five degrees in Central Park markets. Headlines and 92 00:05:03,440 --> 00:05:06,720 Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com, 93 00:05:06,839 --> 00:05:10,440 Speaker 1: the Bloomberg Business out hand at Bloomberg. Victake, He's a 94 00:05:10,480 --> 00:05:20,280 Speaker 1: Bloomberg business lash and I'm Karen Moscow. European stocks are 95 00:05:20,279 --> 00:05:24,080 Speaker 1: pairing early gains. His investors brace for potential unprecedented monetary 96 00:05:24,160 --> 00:05:27,520 Speaker 1: policy tightening by the region's central bank. Later today you 97 00:05:27,600 --> 00:05:30,200 Speaker 1: are stock index futures. They are a little change just 98 00:05:30,320 --> 00:05:32,640 Speaker 1: after the S and P five hundred and nasdak rows 99 00:05:32,720 --> 00:05:35,839 Speaker 1: more than one percent. Yesterday we checked the markets every 100 00:05:35,839 --> 00:05:39,080 Speaker 1: fifteen minutes throughout the trading day on bloomberges and P futures. 101 00:05:39,120 --> 00:05:41,760 Speaker 1: Again little change, and so are down. Announce Dack futures. 102 00:05:41,960 --> 00:05:44,640 Speaker 1: The Dacks in Germany's down a tenth of uppercent, while 103 00:05:44,640 --> 00:05:46,760 Speaker 1: the cat in Paris is up to tenths of upper cent, 104 00:05:46,839 --> 00:05:48,599 Speaker 1: and the foot Sea one hundred is up three tenths 105 00:05:48,600 --> 00:05:51,600 Speaker 1: of uppercent, and your treasury up three thirty seconds. You 106 00:05:51,640 --> 00:05:54,080 Speaker 1: have three point to five percent yield on the two 107 00:05:54,160 --> 00:05:57,200 Speaker 1: year three point four or four percent. Nim Max Screwed 108 00:05:57,200 --> 00:05:59,480 Speaker 1: oil is down four tenths of upper cent on thirty 109 00:05:59,480 --> 00:06:01,680 Speaker 1: five cents at eighty one dollar fifty seven cents of 110 00:06:01,760 --> 00:06:04,039 Speaker 1: barrel com scholled up tenth of a percent of a 111 00:06:04,080 --> 00:06:08,120 Speaker 1: dollar ninety at seventy announced. The euro is at point 112 00:06:08,160 --> 00:06:10,920 Speaker 1: in nine nine nine nine against the dollar, British found 113 00:06:10,960 --> 00:06:14,440 Speaker 1: one point one nine two and the yen one point one. 114 00:06:14,880 --> 00:06:17,920 Speaker 1: Bitcoin is down eight tens of a percent at nineteen thousand, 115 00:06:17,960 --> 00:06:21,240 Speaker 1: two hundred thirty dollars. And as a Bloomberg business flash, 116 00:06:21,240 --> 00:06:23,400 Speaker 1: now here's John Tucker with Moore on what's going on 117 00:06:23,520 --> 00:06:26,599 Speaker 1: around the world. John and Karen Police and Memphis, Tennessee 118 00:06:26,600 --> 00:06:29,520 Speaker 1: have arrested a nineteen year old after four people were killed, 119 00:06:29,560 --> 00:06:32,680 Speaker 1: three others wounded, and a random shooting spree that was 120 00:06:32,960 --> 00:06:36,359 Speaker 1: live streamed on Facebook. President Biden holding back on the 121 00:06:36,400 --> 00:06:39,920 Speaker 1: decision to scrap a a Trump ra tariffs on China imports, 122 00:06:40,279 --> 00:06:44,080 Speaker 1: and the Pentagonist sent Ukraine it's most accurate artillery shell. 123 00:06:44,440 --> 00:06:47,320 Speaker 1: The satellite guided weapon can hit within several feet of 124 00:06:47,320 --> 00:06:50,440 Speaker 1: a target. Sports Yankees beat the Twins and both games 125 00:06:50,480 --> 00:06:53,359 Speaker 1: of a double header. MAT's also winners, beating the Pirates 126 00:06:53,440 --> 00:06:56,360 Speaker 1: both games of their double header. The Eighties lost to 127 00:06:56,400 --> 00:06:58,760 Speaker 1: the Braves, the Giants lost to the Dodgers, the Red 128 00:06:58,760 --> 00:07:01,560 Speaker 1: Sox lost to the Rays, the Orioles lose to the 129 00:07:01,560 --> 00:07:04,920 Speaker 1: Blue Jays, the Nationals lose to the Cardinals, and the 130 00:07:05,080 --> 00:07:08,240 Speaker 1: NFL season kicks off tonight with the Bills heading to 131 00:07:08,360 --> 00:07:11,600 Speaker 1: Los Angeles to take on the Super Bowl champion. Rams 132 00:07:11,880 --> 00:07:14,920 Speaker 1: Global News twenty four hours day on air on Bloomberg 133 00:07:14,960 --> 00:07:18,040 Speaker 1: Quick Take, more than twenty seven hundred journalists and analysts 134 00:07:18,040 --> 00:07:21,840 Speaker 1: and more than countries. I'm John Tucker. This is Bloomberg. 135 00:07:21,920 --> 00:07:24,400 Speaker 1: Nathan Okay, John, thank you. It's five nineteen on Wall 136 00:07:24,440 --> 00:07:27,080 Speaker 1: Street Life from the Bloomberg Interactive Broker Studios. This is 137 00:07:27,120 --> 00:07:31,080 Speaker 1: Bloomberg Daybreak. And speaking of Los Angeles, that is where 138 00:07:31,120 --> 00:07:34,400 Speaker 1: the US is set to host the first gathering of 139 00:07:34,480 --> 00:07:38,520 Speaker 1: Asian nations on an economic agreement that the White House 140 00:07:38,920 --> 00:07:42,720 Speaker 1: hopes will be a counter to China's rising influence in 141 00:07:42,840 --> 00:07:46,200 Speaker 1: the region. It seems there is no end two tensions 142 00:07:46,280 --> 00:07:48,720 Speaker 1: between the US and China. So we want to bring 143 00:07:48,760 --> 00:07:52,160 Speaker 1: in our first guest this morning, James Meager, China Economy 144 00:07:52,240 --> 00:07:55,720 Speaker 1: editor for Bloomberg News, joining us live from our bureau 145 00:07:55,880 --> 00:07:59,280 Speaker 1: in Beijing. Good morning, James. So what more do we 146 00:07:59,400 --> 00:08:03,840 Speaker 1: know out this? What thirteen nation summit that's kicking off today? 147 00:08:05,600 --> 00:08:08,600 Speaker 1: So this is you know, this is like an attempt 148 00:08:08,600 --> 00:08:11,720 Speaker 1: by the Biden administration. I guess too. As you said 149 00:08:11,760 --> 00:08:15,200 Speaker 1: in the introduction to count of the rising economic power 150 00:08:15,200 --> 00:08:17,960 Speaker 1: of China, I mean all of the nations in Asia, 151 00:08:18,480 --> 00:08:21,040 Speaker 1: especially the ones that are coming to this meeting. For them, 152 00:08:21,120 --> 00:08:23,120 Speaker 1: China is the largest trading part of that they have, 153 00:08:23,280 --> 00:08:26,400 Speaker 1: you know, it's by an increasing amount of goods from Australia, 154 00:08:26,440 --> 00:08:31,760 Speaker 1: from South Korea, from Japan, from India, and uh. The 155 00:08:31,760 --> 00:08:33,920 Speaker 1: the failure of the you know, the failure the decision 156 00:08:33,920 --> 00:08:36,280 Speaker 1: about the Trump administration to to to pull out of 157 00:08:36,280 --> 00:08:38,560 Speaker 1: the t p P has sort of left the U 158 00:08:38,600 --> 00:08:41,079 Speaker 1: S trade policy and economic policy towards these nations a 159 00:08:41,120 --> 00:08:43,240 Speaker 1: little bit adrift. So this is the attempt by the 160 00:08:43,240 --> 00:08:45,920 Speaker 1: Biden administration to sort of bring that back on course 161 00:08:45,960 --> 00:08:48,640 Speaker 1: and to try and you know, to increase economic connections 162 00:08:48,640 --> 00:08:52,480 Speaker 1: between the countries of Asia and the US. It isn't 163 00:08:52,480 --> 00:08:57,200 Speaker 1: really isn't really traditional trade negotiation. The then this is 164 00:08:57,240 --> 00:09:00,440 Speaker 1: really this meeting that's happening in Los Angeles starting today 165 00:09:00,720 --> 00:09:03,520 Speaker 1: is sort of an agreement to start talking the company. 166 00:09:03,559 --> 00:09:05,320 Speaker 1: The countries are going to meet and they're gonna say like, 167 00:09:05,400 --> 00:09:08,080 Speaker 1: these are the these are the big buckets of things 168 00:09:08,160 --> 00:09:10,439 Speaker 1: we would like to do. Where can we cooperate, where 169 00:09:10,440 --> 00:09:13,200 Speaker 1: can we not cooperate? And and some of those countries 170 00:09:13,200 --> 00:09:15,800 Speaker 1: are not going to cooperate in all these areas. You know, 171 00:09:15,880 --> 00:09:20,040 Speaker 1: these the areas where looking at trade, supply chains, decobanization, 172 00:09:20,360 --> 00:09:22,800 Speaker 1: and then taxes in corruption. And one of the things 173 00:09:22,800 --> 00:09:25,120 Speaker 1: that's different about this from a normal trade negotiation is 174 00:09:25,160 --> 00:09:27,760 Speaker 1: that it's basically pick or choose, Like some countries may 175 00:09:27,800 --> 00:09:30,800 Speaker 1: decide to just cooperate on trade, some countries may decide 176 00:09:30,840 --> 00:09:34,520 Speaker 1: to cooperate on any corruption or tax you know, harmonization, 177 00:09:34,600 --> 00:09:36,880 Speaker 1: that kind of thing. So it's you know, it's very 178 00:09:36,960 --> 00:09:40,080 Speaker 1: much an ad hoc kind of process. And that part 179 00:09:40,080 --> 00:09:42,240 Speaker 1: of the reason for that is that it's impossible to 180 00:09:42,280 --> 00:09:45,599 Speaker 1: get a trade deal through through Congress. Um the Binding administration, 181 00:09:45,600 --> 00:09:49,880 Speaker 1: the Trump administration before it, it has shown it's impossible 182 00:09:49,920 --> 00:09:52,360 Speaker 1: for you know, the US Congress to vote or sorry, 183 00:09:52,400 --> 00:09:54,960 Speaker 1: the US sender to vote to approve any kind of 184 00:09:54,960 --> 00:09:58,160 Speaker 1: trade deal. And so the I guess the administration's effort 185 00:09:58,200 --> 00:10:00,840 Speaker 1: is to know, have this kind of talk jop which 186 00:10:00,880 --> 00:10:04,040 Speaker 1: doesn't need congressional approval. Yeah, so you've laid out some 187 00:10:04,080 --> 00:10:07,839 Speaker 1: of the challenges there. But what is China's influence looking 188 00:10:07,880 --> 00:10:10,480 Speaker 1: like right now? Given all the muscle flexing that's been 189 00:10:10,520 --> 00:10:15,240 Speaker 1: going on really ever since how Speaker Nancy Pelosi came 190 00:10:15,320 --> 00:10:19,720 Speaker 1: to Taiwan last month. I mean, I think China's muscle, 191 00:10:19,920 --> 00:10:23,000 Speaker 1: at least on economic and trade goes back well before 192 00:10:23,240 --> 00:10:25,800 Speaker 1: the recent tensions of Taiwan. If you look at, you know, 193 00:10:25,800 --> 00:10:28,600 Speaker 1: the growth of the rise of China's economy over the 194 00:10:28,640 --> 00:10:31,600 Speaker 1: last twenty years, it's going from being basically a minnow 195 00:10:31,600 --> 00:10:34,000 Speaker 1: and global trade to becoming to being the world's largest 196 00:10:34,040 --> 00:10:36,559 Speaker 1: trading country now. As I said, it's the largest trading 197 00:10:36,600 --> 00:10:38,520 Speaker 1: partner from all of the countries that are that are 198 00:10:38,640 --> 00:10:41,520 Speaker 1: that are represented in in Los Angeles today and tomorrow. 199 00:10:42,040 --> 00:10:45,760 Speaker 1: Uh so the you know, it's the world second large 200 00:10:45,800 --> 00:10:48,320 Speaker 1: of economy. It's a huge source of demand for many 201 00:10:48,360 --> 00:10:50,760 Speaker 1: many countries in a while all the two sorts of imports, 202 00:10:50,760 --> 00:10:53,920 Speaker 1: including for the US for many kinds of manufactured goods. 203 00:10:54,080 --> 00:10:57,959 Speaker 1: So China's weight in the region is because it is 204 00:10:58,000 --> 00:11:00,440 Speaker 1: such a massive economy and it is most to all 205 00:11:00,480 --> 00:11:03,359 Speaker 1: of these countries. Obviously it's much closer to from Thailand 206 00:11:03,760 --> 00:11:06,480 Speaker 1: or Australia or Japan to China than it is to 207 00:11:06,520 --> 00:11:08,840 Speaker 1: the US, so you know, it has that economic heft, 208 00:11:09,440 --> 00:11:11,280 Speaker 1: uh you know, and at the moment, I guess you 209 00:11:11,320 --> 00:11:14,440 Speaker 1: could say that the US still has some areas in 210 00:11:14,440 --> 00:11:16,679 Speaker 1: which is stronger than China in the region. It's still 211 00:11:16,720 --> 00:11:19,320 Speaker 1: a much larger investor into many of these countries. You know, 212 00:11:19,320 --> 00:11:22,520 Speaker 1: it's by far the largest investor into Australia, it's a Thailand, 213 00:11:23,120 --> 00:11:25,280 Speaker 1: and into other countries in the region. But you know, 214 00:11:25,360 --> 00:11:30,120 Speaker 1: the growth of trade between China and Asian countries, for example, 215 00:11:30,200 --> 00:11:32,480 Speaker 1: is much much faster than the growth of trade between 216 00:11:32,520 --> 00:11:35,000 Speaker 1: the US and those countries. China has been able to 217 00:11:35,040 --> 00:11:37,440 Speaker 1: sit a sign free trade deals with all of those countries, 218 00:11:37,679 --> 00:11:39,520 Speaker 1: and so the direction of trade is obviously going to 219 00:11:39,520 --> 00:11:42,960 Speaker 1: be much more focused on trade between athel or trade 220 00:11:42,960 --> 00:11:45,960 Speaker 1: became Asian nations and China more than it would be 221 00:11:46,000 --> 00:11:49,000 Speaker 1: on the focused on trade between the US and those countries. So, 222 00:11:49,240 --> 00:11:51,400 Speaker 1: you know, this agreement is an attempt by the Biden 223 00:11:51,400 --> 00:11:53,960 Speaker 1: administration to try and shift that focus a little bit 224 00:11:53,960 --> 00:11:56,599 Speaker 1: back to the US, you know, shifted away from the 225 00:11:56,640 --> 00:11:59,240 Speaker 1: direction has been going over the past twenty years as 226 00:11:59,320 --> 00:12:04,679 Speaker 1: China has as its economy has has grown. You know, well, 227 00:12:04,920 --> 00:12:07,880 Speaker 1: it can be very interesting to watch whether this economic 228 00:12:07,960 --> 00:12:10,920 Speaker 1: pressure and put to bear on China by the USh 229 00:12:11,280 --> 00:12:15,959 Speaker 1: bears fruit given some of the h even further geopolitical 230 00:12:16,000 --> 00:12:19,920 Speaker 1: military potential tensions that we've seen in recent weeks. James Meager, 231 00:12:20,000 --> 00:12:23,520 Speaker 1: our China Economy editor for Bloomberg News, thanks for joining 232 00:12:23,600 --> 00:12:26,200 Speaker 1: us this morning giving us more insights on this Indo 233 00:12:26,280 --> 00:12:30,440 Speaker 1: Pacific Economic Framework for Prosperity conference kicking off today at 234 00:12:30,440 --> 00:12:34,000 Speaker 1: two day conference UH said to begin in Los Angeles. 235 00:12:34,440 --> 00:12:37,840 Speaker 1: Looking ahead to the market open futures are little changed 236 00:12:37,880 --> 00:12:41,520 Speaker 1: to have an ECB decision this morning. You're listening to 237 00:12:41,559 --> 00:12:49,280 Speaker 1: Bloomberg Daybreak Bloomberg eleven three oh weather. Sunshine today with 238 00:12:49,320 --> 00:12:52,200 Speaker 1: a higher eighty degrees, will be sunny, low eighties Tomorrow 239 00:12:52,320 --> 00:12:56,000 Speaker 1: and Saturday. We'll call it partly sunny Sunday, but still 240 00:12:56,000 --> 00:12:58,040 Speaker 1: warm with highs in the low eighties. Right now sixty 241 00:12:58,120 --> 00:13:04,760 Speaker 1: five in Central Park, broadcasting live from the Bloomberg Interacted 242 00:13:04,800 --> 00:13:08,680 Speaker 1: Broker's studio in New York. Bloomberg E Living Freedom to Washington, 243 00:13:08,760 --> 00:13:12,839 Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one 244 00:13:12,960 --> 00:13:16,400 Speaker 1: to San Francisco, Bloomberg now sixty to the country, Sirius 245 00:13:16,559 --> 00:13:19,040 Speaker 1: x M CHADO one nine team and around the globe, 246 00:13:19,080 --> 00:13:22,680 Speaker 1: the Bloomberg Business at and Bloomberg Radio dot Com. This 247 00:13:23,040 --> 00:13:31,840 Speaker 1: is Bloomberg Daybreak. It's five thirty on Wall Street good morning. 248 00:13:31,840 --> 00:13:34,960 Speaker 1: I'm Nathan Hagar and I'm karenin Moscow. We're just about 249 00:13:34,960 --> 00:13:37,440 Speaker 1: four hours away from the open of US trading. Let's 250 00:13:37,440 --> 00:13:38,800 Speaker 1: get you up to date on the news you need 251 00:13:38,880 --> 00:13:41,679 Speaker 1: to know at this hour. We begin overseas, where the 252 00:13:41,720 --> 00:13:45,360 Speaker 1: European Central Bank calls its first monetary policy meeting since July. 253 00:13:45,840 --> 00:13:48,720 Speaker 1: Economists expect the ECB to deliver a rate hike as 254 00:13:48,800 --> 00:13:52,080 Speaker 1: high as seventy five basis points, but Bloomberg's Maria Todeo 255 00:13:52,240 --> 00:13:56,000 Speaker 1: says it's still unclear exactly how high they'll go. When 256 00:13:56,040 --> 00:13:58,280 Speaker 1: you look at the seventy five basis points camp, what 257 00:13:58,480 --> 00:14:00,960 Speaker 1: they argue is there is a go now to hike, 258 00:14:01,040 --> 00:14:04,720 Speaker 1: and you should do it quickly, decisively, and take swift action. 259 00:14:04,800 --> 00:14:07,440 Speaker 1: This is now about the credibility of the institution. On 260 00:14:07,520 --> 00:14:09,640 Speaker 1: the flip side, when you look at the fifty basis 261 00:14:09,640 --> 00:14:12,080 Speaker 1: points at Camp here, what they argue is that you 262 00:14:12,080 --> 00:14:15,599 Speaker 1: could find yourself in a situation where you're hiking aggressively 263 00:14:15,840 --> 00:14:18,760 Speaker 1: at the same time your economy about to enter potentially 264 00:14:19,040 --> 00:14:23,360 Speaker 1: a recession and facing an energy crisis. Bloomberg's Maria today 265 00:14:23,400 --> 00:14:25,760 Speaker 1: O says, no matter how high the e c D goes, 266 00:14:25,880 --> 00:14:29,240 Speaker 1: the Central Bank will definitely raise rates today. All back 267 00:14:29,280 --> 00:14:31,480 Speaker 1: here in the US, Karen, We're watching for comments from 268 00:14:31,520 --> 00:14:34,080 Speaker 1: Fed Chair j Powell. He has scheduled to take part 269 00:14:34,080 --> 00:14:37,560 Speaker 1: in the moderated discussion hosted by the Cato Institute this morning. 270 00:14:37,720 --> 00:14:39,960 Speaker 1: Stick with us for live coverage of the remarks starting 271 00:14:39,960 --> 00:14:43,359 Speaker 1: around nine am All street time on Bloomberg Radio and television. 272 00:14:43,560 --> 00:14:46,920 Speaker 1: Well overseas, Nathan, we have a big move in geopolitics. 273 00:14:46,960 --> 00:14:50,480 Speaker 1: The US is warning about Chinese threats to Taiwan. National 274 00:14:50,560 --> 00:14:54,200 Speaker 1: Security Adviser Jake Sullivan says he and congressional leaders are 275 00:14:54,240 --> 00:14:57,200 Speaker 1: working to alter policy toward the island and light of 276 00:14:57,280 --> 00:15:00,760 Speaker 1: threats from Beijing or elements of that legislation with respect 277 00:15:00,800 --> 00:15:03,480 Speaker 1: to how we can strengthen our security assistance for Taiwan 278 00:15:03,880 --> 00:15:08,840 Speaker 1: that are quite effective and robust that will improve Taiwan security. 279 00:15:09,000 --> 00:15:11,560 Speaker 1: There are other elements that give us some concern and 280 00:15:11,680 --> 00:15:14,440 Speaker 1: National Security Adviser Jake Sullivan made the comments on the 281 00:15:14,520 --> 00:15:18,240 Speaker 1: David Rubinstein Show Peer to Peer Conversations. Get the program 282 00:15:18,320 --> 00:15:21,320 Speaker 1: later this month on Bloomberg Television September twenty one, at 283 00:15:21,400 --> 00:15:23,840 Speaker 1: nine pm Eastern. The U s is also taking him 284 00:15:23,880 --> 00:15:26,240 Speaker 1: at China on the economic frontcare and the White House 285 00:15:26,280 --> 00:15:29,120 Speaker 1: is hosting its first gathering of Asian nations over an 286 00:15:29,200 --> 00:15:33,040 Speaker 1: economic agreement aimed to counter Beijing's rising influence in the region. 287 00:15:33,240 --> 00:15:35,920 Speaker 1: Bloomberg Stephen Angel in Hong Kong says the agreement is 288 00:15:35,920 --> 00:15:39,360 Speaker 1: not traditional. It's more focused on ways to build trade 289 00:15:39,640 --> 00:15:44,120 Speaker 1: with these fourteen nations, to improve supply chains, to build 290 00:15:44,240 --> 00:15:47,800 Speaker 1: clean energy initiative de carbonization as a main goal, and 291 00:15:47,840 --> 00:15:51,040 Speaker 1: also the infrastructure to do that. Also deals with taxes 292 00:15:51,240 --> 00:15:54,360 Speaker 1: and anti corrupted Bloomberg Stephen Angel says critics of the 293 00:15:54,360 --> 00:15:57,160 Speaker 1: pack thing to too vague and want more details. And 294 00:15:57,280 --> 00:15:59,720 Speaker 1: we're keeping an eye on the yen this morning. Nathan. 295 00:15:59,760 --> 00:16:03,120 Speaker 1: It's a bid because swings overnight weaker than stronger, now 296 00:16:03,160 --> 00:16:05,800 Speaker 1: weaker again. There are reports of officials in Japan are 297 00:16:05,800 --> 00:16:07,960 Speaker 1: meeting for the first time since June to discuss the 298 00:16:08,040 --> 00:16:12,120 Speaker 1: situation again. At one point oh seven against the dollar. 299 00:16:12,600 --> 00:16:20,320 Speaker 1: And this is Bloomberg three on All Street, sixty five 300 00:16:20,320 --> 00:16:23,480 Speaker 1: degrees in Central Park eastbound b Que's getting heavy into 301 00:16:23,520 --> 00:16:26,040 Speaker 1: cabin Plaza. Will get to the details in traffic first 302 00:16:26,120 --> 00:16:28,080 Speaker 1: John Tucker with what else is going on in New 303 00:16:28,160 --> 00:16:30,280 Speaker 1: York and around the world. John and Nathan one of 304 00:16:30,320 --> 00:16:33,480 Speaker 1: the last remaining government mandates of the pandemic has now 305 00:16:33,520 --> 00:16:36,800 Speaker 1: been lifted. More this morning and this report from Bloomberg's 306 00:16:36,840 --> 00:16:40,160 Speaker 1: Lisa Mateo, New York Governor Kathy Hokel has lifted the 307 00:16:40,160 --> 00:16:43,600 Speaker 1: state's mask requirement for public transit. It comes after months 308 00:16:43,640 --> 00:16:47,200 Speaker 1: of confusion among commuters by varying national, state, and local 309 00:16:47,280 --> 00:16:50,680 Speaker 1: rules on where face coverings are required. The governor says 310 00:16:50,720 --> 00:16:53,360 Speaker 1: COVID numbers are stable, putting the state in a good 311 00:16:53,360 --> 00:16:57,360 Speaker 1: place now effective immediately. Masks will no longer be required 312 00:16:57,400 --> 00:17:01,360 Speaker 1: for mass transit, correctional facilities, and shell There's mass mandates 313 00:17:01,440 --> 00:17:04,120 Speaker 1: remain in effect at nursing homes as well as other 314 00:17:04,160 --> 00:17:07,320 Speaker 1: health care facilities regulated by the state. Mass compliance on 315 00:17:07,400 --> 00:17:10,639 Speaker 1: New York City subways, buses, and commuter trains had waned 316 00:17:10,680 --> 00:17:14,320 Speaker 1: over the past few months. Lisa Mateo, Bloomberg Daybreak. Another 317 00:17:14,359 --> 00:17:17,680 Speaker 1: mass shooting in Memphis. Four people were killed three others 318 00:17:17,680 --> 00:17:20,560 Speaker 1: injured in a shooting spree that held the city hostage 319 00:17:20,560 --> 00:17:23,800 Speaker 1: for hours last night. Police say nineteen year old Ezekiel 320 00:17:23,880 --> 00:17:27,919 Speaker 1: Kelly drove around randomly shooting people while live streaming on Facebook. 321 00:17:28,200 --> 00:17:31,159 Speaker 1: He was taken into custody. Court records show he had 322 00:17:31,200 --> 00:17:34,199 Speaker 1: a previous first degrade murder charge, but pleaded down to 323 00:17:34,320 --> 00:17:37,159 Speaker 1: aggravate an assault. He served just eleven months of a 324 00:17:37,240 --> 00:17:40,719 Speaker 1: three year sentence. Memphis Mayor Jim Strickland was outraged and 325 00:17:40,760 --> 00:17:44,600 Speaker 1: blamed a lenient judicial system because I'm tired of our 326 00:17:44,640 --> 00:17:48,560 Speaker 1: police officers arresting the same people over and over and over, 327 00:17:48,920 --> 00:17:53,359 Speaker 1: and those people committing violent acts. The shooting comes the 328 00:17:53,400 --> 00:17:56,159 Speaker 1: same week Memphis police found the body of a missing teacher, 329 00:17:56,160 --> 00:18:00,000 Speaker 1: Eliza Fletcher. The second suspect wanted in the standing rampage 330 00:18:00,000 --> 00:18:04,320 Speaker 1: Agent Canada, has died. Miles Sanderson was taken into custody yesterday, 331 00:18:04,359 --> 00:18:07,320 Speaker 1: but police say he went into medical distress shortly after 332 00:18:07,480 --> 00:18:10,119 Speaker 1: and died. Myles and his brother Damien had been on 333 00:18:10,119 --> 00:18:13,399 Speaker 1: the run in Saskatchewan since Sunday, accused of a stabbing 334 00:18:13,440 --> 00:18:16,800 Speaker 1: spree that killed ten and left nineteen others injured. Damien 335 00:18:16,920 --> 00:18:19,280 Speaker 1: was found dead in the field near these stabbing sites. 336 00:18:19,320 --> 00:18:22,359 Speaker 1: On Monday. President Biden will hold a video call with 337 00:18:22,480 --> 00:18:25,320 Speaker 1: allies today. The talks will focus on the next step 338 00:18:25,359 --> 00:18:29,080 Speaker 1: to support Ukraine against Russia's invasion the Pentagon meantime and 339 00:18:29,119 --> 00:18:33,000 Speaker 1: sent Ukraine It's most accurate artillery Shell the GPS guided 340 00:18:33,080 --> 00:18:36,479 Speaker 1: ex Caliber, according to budget documents, and a judge has 341 00:18:36,520 --> 00:18:39,520 Speaker 1: sharply criticized that Ela Moss were not properly turning over 342 00:18:39,600 --> 00:18:43,440 Speaker 1: text messages that could be evidence in Twitter's lawsuit seeking 343 00:18:43,440 --> 00:18:46,480 Speaker 1: to force the billionaire to complete his proposed forty four 344 00:18:46,520 --> 00:18:50,359 Speaker 1: billion dollar buy out. The judge said there were glaring deficiencies. 345 00:18:50,640 --> 00:18:52,800 Speaker 1: Global News twenty four hours a day on air and 346 00:18:52,840 --> 00:18:56,240 Speaker 1: on Bloomberg Quicktake, powered by more than seven journalists and 347 00:18:56,240 --> 00:18:59,200 Speaker 1: analysts more than one hundred twenty countries. I'm John Temper. 348 00:18:59,280 --> 00:19:06,640 Speaker 1: This is Bloomberg as John Tucker. Thank you almost six 349 00:19:06,680 --> 00:19:09,639 Speaker 1: on Wall streetch on Stashowers, the Bloomberg Sports Update, Thanks Dathan. 350 00:19:09,680 --> 00:19:12,200 Speaker 1: When the Yankees are slumping, bring on the Twins. It's 351 00:19:12,200 --> 00:19:14,320 Speaker 1: the team the Yanks always seem to dominate. And the 352 00:19:14,400 --> 00:19:16,480 Speaker 1: Yanks with a double Edder sweep, now go for a 353 00:19:16,480 --> 00:19:18,760 Speaker 1: four game series sweep tonight. They're doing it with a 354 00:19:18,800 --> 00:19:20,920 Speaker 1: lineup that had five guys who have spent most of 355 00:19:20,960 --> 00:19:23,760 Speaker 1: the season in Scranton, and the Yanks still won the 356 00:19:23,800 --> 00:19:26,679 Speaker 1: wild opener five to four. They scored twice in the 357 00:19:26,760 --> 00:19:29,520 Speaker 1: twelfth inning. That's Waldo Cabrera had the walk off hit 358 00:19:29,560 --> 00:19:32,600 Speaker 1: and in in over twenty five slump. Earlier in Aaron 359 00:19:32,680 --> 00:19:36,240 Speaker 1: Judge o'mron his fifty fifth second most in the Yankee history, 360 00:19:36,280 --> 00:19:39,679 Speaker 1: moving past Mickey Mannell and Alex Rodriguez and now trailing 361 00:19:39,760 --> 00:19:42,960 Speaker 1: only Roger Marri's nightcap had a grand slam from Isaiah 362 00:19:43,040 --> 00:19:45,639 Speaker 1: Connor Felff and Aaron Hicks, who has struggled so mightily 363 00:19:45,840 --> 00:19:47,760 Speaker 1: with a three run double on the Yanks one seven 364 00:19:47,800 --> 00:19:50,520 Speaker 1: to one. That's also with a doubleheader sweep in Pittsburgh, 365 00:19:50,840 --> 00:19:53,000 Speaker 1: first five to one and then tend enough. And though 366 00:19:53,000 --> 00:19:55,000 Speaker 1: Max Scherzer has been put on the injured list with 367 00:19:55,080 --> 00:19:57,840 Speaker 1: an eighty side, the hope is he misses only one start, 368 00:19:57,880 --> 00:20:00,000 Speaker 1: no more than two. So down to the final four 369 00:20:00,000 --> 00:20:03,320 Speaker 1: at the US Open Women's semifinals today tonight no Americans left. 370 00:20:03,400 --> 00:20:06,800 Speaker 1: Jess Pagoula lost last night to the top seed IGIs Giontech. 371 00:20:06,880 --> 00:20:08,600 Speaker 1: There is an American left on the men's side that 372 00:20:08,640 --> 00:20:10,440 Speaker 1: had not been the case at the Open since Andy 373 00:20:10,560 --> 00:20:14,440 Speaker 1: Roddick in two thousand six. Francis Tiafa one again. Tomorrow, 374 00:20:14,480 --> 00:20:18,640 Speaker 1: Tiafa will face Carlos Alcarez. He won his quarterfinal match 375 00:20:18,640 --> 00:20:21,040 Speaker 1: with the Unique Center in five sets. The match went 376 00:20:21,160 --> 00:20:25,840 Speaker 1: five hours fifteen minutes. It ended at two fifty am. 377 00:20:25,880 --> 00:20:29,879 Speaker 1: Alcarez had won his previous match at two twenty three am. 378 00:20:30,000 --> 00:20:33,000 Speaker 1: Grams and Bills kick off the NFL season tonight in 379 00:20:33,119 --> 00:20:35,320 Speaker 1: l A. The Jets made official that Joe Flacco will 380 00:20:35,359 --> 00:20:38,600 Speaker 1: be their starting quarterbacks Sunday against Baltimore. Zack Wilson not 381 00:20:38,720 --> 00:20:40,320 Speaker 1: ready to return from his knee injury. In fact, he 382 00:20:40,400 --> 00:20:43,840 Speaker 1: might miss the first three games. John Stash Howard Bloomberg 383 00:20:43,880 --> 00:20:46,680 Speaker 1: Sports Nathan John Thanks thirty seven on Wall Street Time 384 00:20:46,720 --> 00:20:49,159 Speaker 1: for the Tri State Business Report with Bloomberg's head Cory 385 00:20:49,560 --> 00:20:52,960 Speaker 1: Manhattan home sales under a million dollars sagged well below 386 00:20:53,000 --> 00:20:56,600 Speaker 1: their pre pandemic levels this summer. The number of properties 387 00:20:56,640 --> 00:20:59,760 Speaker 1: for sale under five hundred thousand bucks had entered contract 388 00:20:59,800 --> 00:21:02,720 Speaker 1: in June, July and August was twenty nine, present, less 389 00:21:02,760 --> 00:21:05,120 Speaker 1: than the average number for that period in the decade 390 00:21:05,160 --> 00:21:08,280 Speaker 1: leading up to the pandemic. Bosses expect workers to start 391 00:21:08,320 --> 00:21:11,600 Speaker 1: showing up more regularly at Manhattan offices that have been 392 00:21:11,680 --> 00:21:15,960 Speaker 1: sparsely populated for more than two years. Jeff Blow, chief 393 00:21:16,000 --> 00:21:20,159 Speaker 1: executive officer of Landlord Related Companies, thinks there will be 394 00:21:20,160 --> 00:21:22,399 Speaker 1: a real push back to the office. Now that summer 395 00:21:22,480 --> 00:21:25,360 Speaker 1: is ending, New York City is seeking bids from companies 396 00:21:25,400 --> 00:21:28,120 Speaker 1: to operate its ferry system, a fleet of thirty eight 397 00:21:28,160 --> 00:21:30,680 Speaker 1: boats that play a role in Mayor Eric Adam's plan 398 00:21:30,840 --> 00:21:34,800 Speaker 1: to lure riders back to public transportation. N y C 399 00:21:35,080 --> 00:21:38,600 Speaker 1: Ferry is used by six civilion travelers every year on 400 00:21:38,760 --> 00:21:42,720 Speaker 1: routes that cover seventy nautical miles to all five boroughs 401 00:21:43,040 --> 00:21:47,240 Speaker 1: that your Bloomberg Drying State Business Report. I'm Ed Corey 402 00:21:47,400 --> 00:21:49,320 Speaker 1: on Wall Street, Bloomberg Radios on the air from San 403 00:21:49,359 --> 00:21:51,840 Speaker 1: Francisco to New York, London to Hong Kong. Let's check 404 00:21:51,880 --> 00:21:53,399 Speaker 1: in with our global news team for some of the 405 00:21:53,400 --> 00:21:55,879 Speaker 1: top stories heard on our three hundred affiliate radio stations 406 00:21:55,920 --> 00:22:01,080 Speaker 1: around the world. Steve Phota Scan on kao X in 407 00:22:01,200 --> 00:22:04,240 Speaker 1: Los Angeles. We're talking about next our media looking for 408 00:22:04,400 --> 00:22:07,639 Speaker 1: new shows as it takes over the money losing c 409 00:22:07,960 --> 00:22:13,000 Speaker 1: W TV network, Cornitanahwan ktr H in Houston. Crude has 410 00:22:13,000 --> 00:22:16,240 Speaker 1: tumbled by almost fifty dollars of Barrelton speaking in March, 411 00:22:16,520 --> 00:22:19,159 Speaker 1: I'm Stephen Carol and Bloomberg d a B Digital Radio 412 00:22:19,200 --> 00:22:22,160 Speaker 1: in London. We've been reporting on the ECB's right decision 413 00:22:22,200 --> 00:22:24,840 Speaker 1: on the margin of the hike. I Mad Gorri on 414 00:22:25,119 --> 00:22:28,160 Speaker 1: w p A M in Cleveland. I'm reporting the Browns 415 00:22:28,320 --> 00:22:31,960 Speaker 1: Jack Cleveland Casino and the thistle Down Race. Pino will 416 00:22:32,000 --> 00:22:35,080 Speaker 1: be able to offer sports betting in January. And those 417 00:22:35,119 --> 00:22:37,720 Speaker 1: are some of the stories our d Bloomberg journalists and 418 00:22:37,720 --> 00:22:40,320 Speaker 1: analysts working on this morning around the world. It's thirty 419 00:22:40,400 --> 00:22:43,360 Speaker 1: nine on Wall Street. The following is an editorial from 420 00:22:43,440 --> 00:22:48,479 Speaker 1: Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. 421 00:22:49,040 --> 00:22:54,000 Speaker 1: Liz Trust could hardly have picked worse circumstances under which 422 00:22:54,040 --> 00:22:57,840 Speaker 1: to become the UK's new Prime Minister, even leaving aside 423 00:22:57,880 --> 00:23:01,960 Speaker 1: the rain that delayed her inaugural speech this week. After all, 424 00:23:02,040 --> 00:23:06,120 Speaker 1: she inherits potentially the worst economic crisis in a generation. 425 00:23:06,680 --> 00:23:11,159 Speaker 1: Whether Trust exceeds expectations will depend on her willingness to 426 00:23:11,359 --> 00:23:16,800 Speaker 1: abandon campaign slogans for pragmatic solutions. Trust will need to 427 00:23:16,840 --> 00:23:21,400 Speaker 1: speak honestly about trade offs and demonstrate an ability to compromise, 428 00:23:22,040 --> 00:23:25,480 Speaker 1: especially on two major issues where she'll have to make 429 00:23:25,520 --> 00:23:31,040 Speaker 1: early decisions, the cost of living crisis and UK EU relations. 430 00:23:31,480 --> 00:23:35,200 Speaker 1: Trust's task now is to restore confidence in the government's 431 00:23:35,200 --> 00:23:40,000 Speaker 1: ability to manage crises at home while providing steady, stable 432 00:23:40,080 --> 00:23:44,520 Speaker 1: leadership on the world stage. Not just Britain's should wish 433 00:23:44,520 --> 00:23:49,600 Speaker 1: her success. This editorial was written by the Bloomberg Editorial Board. 434 00:23:49,800 --> 00:23:52,919 Speaker 1: For more Bloomberg opinion, please go to Bloomberg dot Com, 435 00:23:52,920 --> 00:23:57,119 Speaker 1: slash Opinion or ope I n go on the Bloomberg Terminal. 436 00:23:57,440 --> 00:24:04,240 Speaker 1: This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials 437 00:24:04,240 --> 00:24:06,879 Speaker 1: every weekday. This time terminal customers can read more at 438 00:24:06,920 --> 00:24:10,560 Speaker 1: op I n gull. Sunshine near eighty today will be sunny, 439 00:24:10,560 --> 00:24:13,520 Speaker 1: low eighties all weekend. Long sixty five is the current 440 00:24:13,520 --> 00:24:19,879 Speaker 1: temperature in Central Park markets. Headlines and breaking news twenty 441 00:24:19,880 --> 00:24:22,760 Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg 442 00:24:22,760 --> 00:24:26,320 Speaker 1: Business at and at Bloomberg Quick Tape. He's a Bloomberg 443 00:24:26,400 --> 00:24:35,560 Speaker 1: Business flash and I'm paring Moscow European stocks pairing early 444 00:24:35,640 --> 00:24:39,120 Speaker 1: games with investors conscious before a potential jumbo interest rate 445 00:24:39,160 --> 00:24:42,040 Speaker 1: hike by the region's central bank later Today. US stock 446 00:24:42,080 --> 00:24:44,240 Speaker 1: index futures are a little changed, and we check the 447 00:24:44,280 --> 00:24:47,800 Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg 448 00:24:47,960 --> 00:24:50,720 Speaker 1: s and P futures. Again, little change or NAZDAC and 449 00:24:50,800 --> 00:24:53,760 Speaker 1: now futures. The decks in Germany's down about two chance 450 00:24:53,800 --> 00:24:56,520 Speaker 1: of upper cent ten, Your treasury up four thirty seconds, 451 00:24:56,560 --> 00:24:58,879 Speaker 1: yell three point to four percent, and the yield on 452 00:24:58,920 --> 00:25:02,119 Speaker 1: the two year three point for three percent. Nine X 453 00:25:02,160 --> 00:25:04,520 Speaker 1: screwde oil is down four ten per cent or thirty 454 00:25:04,560 --> 00:25:06,919 Speaker 1: six cents and eighty one dollars fifty nine cents in barrel. 455 00:25:07,119 --> 00:25:09,719 Speaker 1: Comex called up two tens per centers three dollars seventy 456 00:25:09,760 --> 00:25:12,920 Speaker 1: cents a seventeen thirty one fifty announced. The euro is 457 00:25:12,960 --> 00:25:16,119 Speaker 1: appointed is now at one against the dollar, British found 458 00:25:16,160 --> 00:25:19,000 Speaker 1: one point one four nine two and the end one 459 00:25:19,040 --> 00:25:22,960 Speaker 1: point nine three. And Bitcoin this morning is down about 460 00:25:23,000 --> 00:25:26,280 Speaker 1: one percent and nineteen thousand one nine dollars. That's a 461 00:25:26,320 --> 00:25:29,159 Speaker 1: Bloomberg business flash. Now here's John Tucker with more on 462 00:25:29,280 --> 00:25:31,880 Speaker 1: what's going on around the world. John, Good morning, Karen, 463 00:25:31,960 --> 00:25:35,960 Speaker 1: the Pentagon, it's quietly sent Ukraine. It's most accurate artillery show. 464 00:25:36,320 --> 00:25:39,760 Speaker 1: The GPS got at ex caliber. Memphis police say four 465 00:25:39,800 --> 00:25:42,840 Speaker 1: or dead after a teenager shooting spree that was streamed 466 00:25:42,880 --> 00:25:47,040 Speaker 1: live on Facebook, and California's power grid once again didn't 467 00:25:47,080 --> 00:25:50,480 Speaker 1: break despite being stretched to the limit as a punishing 468 00:25:50,520 --> 00:25:54,320 Speaker 1: heat wave continues. Sports Yankees beat the Twins both games 469 00:25:54,320 --> 00:25:57,120 Speaker 1: of a double header. Matt's also one, beating the Pirates 470 00:25:57,160 --> 00:25:59,840 Speaker 1: in both games of their double header. The A's lost 471 00:25:59,880 --> 00:26:02,400 Speaker 1: to the Braves, Giants lose to the Dodgers, the Red 472 00:26:02,440 --> 00:26:05,720 Speaker 1: Sox lost to the Rays, the Orioles lost to the 473 00:26:05,760 --> 00:26:09,200 Speaker 1: Blue Jays, and the Nationals lost to the Cardinals. Also, 474 00:26:09,280 --> 00:26:12,080 Speaker 1: the NFL season kicks off tonight with the Bills heading 475 00:26:12,080 --> 00:26:15,000 Speaker 1: to Los Angeles to take on the Super Bowl champion. 476 00:26:15,160 --> 00:26:17,800 Speaker 1: Rams Global News twenty four hours a day on air 477 00:26:17,840 --> 00:26:21,520 Speaker 1: in a Bloomberg Quicktake power bline, more than journalists and 478 00:26:21,560 --> 00:26:24,840 Speaker 1: analysts and more than one hundred twenty countries. I'm John Tucker, 479 00:26:25,000 --> 00:26:29,119 Speaker 1: and this is Bloomberg. Nathan Okay, John, Thanks, It's on 480 00:26:29,200 --> 00:26:32,320 Speaker 1: Wall Street Live from the Bloomberg Interactive Broker Studios. This 481 00:26:32,440 --> 00:26:35,240 Speaker 1: is Bloomberg Day Break. Let's turn out to the nation's 482 00:26:35,320 --> 00:26:38,240 Speaker 1: capital where we're seeing some important moves in jail, politics 483 00:26:38,359 --> 00:26:40,800 Speaker 1: and in the run up to the mid terms. Joining 484 00:26:40,880 --> 00:26:43,920 Speaker 1: us now from our Bloomberg ninety nine one studios in Washington, 485 00:26:44,000 --> 00:26:48,359 Speaker 1: d C. Is Bloomberg Government Congressional reporter Jack Fitzpatrick. Jack 486 00:26:48,400 --> 00:26:51,520 Speaker 1: good morning. We've been reporting that the President is going 487 00:26:51,560 --> 00:26:54,880 Speaker 1: to be holding a call later this morning to try 488 00:26:54,920 --> 00:26:59,119 Speaker 1: to shore up support from allies in the war in Ukraine. 489 00:26:59,240 --> 00:27:01,479 Speaker 1: What's the latest that we're hearing on that. Yeah, it's 490 00:27:01,520 --> 00:27:04,600 Speaker 1: gonna be a video call. Uh. They haven't said exactly 491 00:27:04,640 --> 00:27:08,280 Speaker 1: who's participating, but it's going to include some group of 492 00:27:08,280 --> 00:27:12,800 Speaker 1: Seven leaders, some NATO nation leaders, and others from the 493 00:27:12,840 --> 00:27:18,159 Speaker 1: European Union. UH, so a fairly broad group. The it 494 00:27:18,280 --> 00:27:22,720 Speaker 1: seems europe centric. UH. And of course this comes in 495 00:27:22,840 --> 00:27:26,080 Speaker 1: light of the news just this morning that the US 496 00:27:26,440 --> 00:27:31,000 Speaker 1: is bringing forth another two billion dollars in military aid 497 00:27:31,040 --> 00:27:35,320 Speaker 1: to Ukraine and other uh nearby nations affected by the 498 00:27:35,359 --> 00:27:38,560 Speaker 1: invasion of Ukraine. So it you know, it seems to 499 00:27:38,600 --> 00:27:42,200 Speaker 1: be another uh just the the White House re upping 500 00:27:42,680 --> 00:27:47,639 Speaker 1: their attempts to display unity, UH get a number of 501 00:27:47,680 --> 00:27:52,120 Speaker 1: different countries on board in terms of backing Ukraine. UH 502 00:27:52,359 --> 00:27:56,359 Speaker 1: in light of expected uh you know, economic struggles heading 503 00:27:56,359 --> 00:28:01,080 Speaker 1: into the winter, as as energy becomes in prices become 504 00:28:01,480 --> 00:28:05,520 Speaker 1: more important and potentially more painful. UH. And and also 505 00:28:05,680 --> 00:28:08,560 Speaker 1: Liz trust would be uh an interesting person to keep 506 00:28:08,600 --> 00:28:10,920 Speaker 1: an eye on as she is uh the new UK 507 00:28:11,119 --> 00:28:14,480 Speaker 1: leader who has been fairly hawkish on Russia. But it'll 508 00:28:14,520 --> 00:28:17,560 Speaker 1: it'll be a video call that it would appear to 509 00:28:17,600 --> 00:28:20,639 Speaker 1: take the same kind of rhetoric that you've heard before 510 00:28:20,720 --> 00:28:23,320 Speaker 1: from the White House. Yeah, it's interesting that you bring 511 00:28:23,400 --> 00:28:27,320 Speaker 1: up the threat of an energy crunch getting even worse 512 00:28:27,760 --> 00:28:30,199 Speaker 1: for Europe as they head into the winter. What's the 513 00:28:30,280 --> 00:28:32,680 Speaker 1: level of concern that you're hearing in the White House 514 00:28:32,800 --> 00:28:36,000 Speaker 1: about whether the US is going to be able to 515 00:28:36,040 --> 00:28:40,640 Speaker 1: hold the alliance together with Ukraine. Uh, you know, there's 516 00:28:40,720 --> 00:28:45,680 Speaker 1: concern about that at this point. It seems more to 517 00:28:45,760 --> 00:28:48,520 Speaker 1: be something the White House, the in the Biden administrations 518 00:28:48,960 --> 00:28:53,520 Speaker 1: is warning about. It is not something that has appeared 519 00:28:53,560 --> 00:29:00,000 Speaker 1: to shake the foundations of support for Ukraine at this point. Uh. 520 00:29:00,680 --> 00:29:04,440 Speaker 1: I don't think the concern has risen to that level 521 00:29:04,560 --> 00:29:07,040 Speaker 1: for the winter. But you know, the economic pain that 522 00:29:07,080 --> 00:29:11,000 Speaker 1: could come from higher energy prices depending on how cold 523 00:29:11,040 --> 00:29:14,120 Speaker 1: the winter is, is a very significant factor in this. 524 00:29:14,280 --> 00:29:17,600 Speaker 1: You know, in Washington there is still a lot of support, 525 00:29:17,920 --> 00:29:21,960 Speaker 1: a lot of bipartisan willingness to do more for Ukraine. Uh. 526 00:29:22,040 --> 00:29:25,240 Speaker 1: The concern, as as you just alluded to, the is 527 00:29:25,560 --> 00:29:30,200 Speaker 1: you know, how widespread is that support and how how 528 00:29:30,240 --> 00:29:34,000 Speaker 1: steadfast does it stay there throughout the winter. It is 529 00:29:34,000 --> 00:29:36,680 Speaker 1: a concern, but it is not something that has fundamentally 530 00:29:36,760 --> 00:29:41,240 Speaker 1: changed the politics of the Ukraine Russia situation from the 531 00:29:41,360 --> 00:29:45,120 Speaker 1: US's perspective. And how about the support on Capitol Hill 532 00:29:45,200 --> 00:29:48,360 Speaker 1: for Ukraine, Jack, I know that the White House is 533 00:29:48,480 --> 00:29:52,440 Speaker 1: looking to include a lot more Ukraine aid in the 534 00:29:52,840 --> 00:29:56,880 Speaker 1: stop gap spending bill that's under negotiation. I guess has 535 00:29:56,920 --> 00:29:59,560 Speaker 1: to be passed before what the end of this month 536 00:29:59,640 --> 00:30:03,400 Speaker 1: to get a government from shutting downs left here yes September, 537 00:30:03,880 --> 00:30:06,840 Speaker 1: they've got to have a stopgap funding bill bill that 538 00:30:06,880 --> 00:30:09,360 Speaker 1: will probably run into December. The White House has asked 539 00:30:09,400 --> 00:30:13,160 Speaker 1: for a number of additional h funds, including thirteen point 540 00:30:13,240 --> 00:30:16,160 Speaker 1: seven billion in Ukraine related aid, and that is one 541 00:30:16,200 --> 00:30:19,280 Speaker 1: of the few that has very clear bipartisan support on 542 00:30:19,360 --> 00:30:21,600 Speaker 1: Capitol Hill. So there there is a lot of willingness 543 00:30:21,680 --> 00:30:25,120 Speaker 1: to add more money, significant more money, Uh coming up 544 00:30:25,160 --> 00:30:28,480 Speaker 1: soon from Congress for Ukraine. Appreciate this, Jack, Thanks for 545 00:30:28,640 --> 00:30:33,000 Speaker 1: joining us. Jack Fitzpatrick, our congressional reporter for Bloomberg Government, 546 00:30:33,040 --> 00:30:36,400 Speaker 1: joining us from the nation's capital. Karen Verry Nathan thank 547 00:30:36,440 --> 00:30:38,400 Speaker 1: you at its five fifty three on Wall Straight Time 548 00:30:38,400 --> 00:30:40,560 Speaker 1: for the Bloomberg Law Rapport. Let's get to the legal 549 00:30:40,680 --> 00:30:44,000 Speaker 1: stories we are watching this morning. From Bloomberg's Jeff Bellinger, 550 00:30:46,960 --> 00:30:49,760 Speaker 1: Meta Platforms is being sued in the New York Federal 551 00:30:49,840 --> 00:30:54,000 Speaker 1: Court by Meta Capital Management. The investment advisory service claims 552 00:30:54,080 --> 00:30:58,160 Speaker 1: metas name infringes on its trademark. A federal lawsuit accuses 553 00:30:58,240 --> 00:31:01,360 Speaker 1: Game Stop of secretly wired happening the chat feature on 554 00:31:01,400 --> 00:31:06,040 Speaker 1: its website than sharing transcripts with third parties for marketing purposes. 555 00:31:06,120 --> 00:31:09,240 Speaker 1: A federal lawsuit was filed in California over the way 556 00:31:09,280 --> 00:31:13,800 Speaker 1: Hello Fresh handles renewals for its grocery subscription service. Plaintiffs 557 00:31:13,800 --> 00:31:17,880 Speaker 1: say they were not notified about automatic renewals. Bloomberg Law 558 00:31:18,200 --> 00:31:22,360 Speaker 1: everything you need, all on one legal research platform, including 559 00:31:22,400 --> 00:31:26,719 Speaker 1: guidance analysis and Bloomberg Market Intelligence. Find out more at 560 00:31:26,720 --> 00:31:30,920 Speaker 1: Bloomberg Law dot com. All right, thanks Jeff. Now another 561 00:31:31,000 --> 00:31:33,440 Speaker 1: legal story we're watching for the first time and more 562 00:31:33,480 --> 00:31:36,280 Speaker 1: than a hundred years. A judge has removed a public 563 00:31:36,280 --> 00:31:41,240 Speaker 1: official from office under the Constitution's ban on insurrectionists holding office. 564 00:31:41,640 --> 00:31:44,520 Speaker 1: A judge has asked a coy Griffin, a county commissioner 565 00:31:44,520 --> 00:31:47,320 Speaker 1: in a Tarot County, New Mexico, from his office for 566 00:31:47,400 --> 00:31:51,520 Speaker 1: participating in the January sixth insurrection. For more Bloomberg, Joon 567 00:31:51,560 --> 00:31:54,760 Speaker 1: Grauso speaks to know a book Binder, director of Citizens 568 00:31:54,760 --> 00:31:58,440 Speaker 1: for Responsibility and Ethics in Washington, and on partisan watchdog 569 00:31:58,560 --> 00:32:01,840 Speaker 1: organization that sued for g fince removal on behalf of 570 00:32:01,960 --> 00:32:06,880 Speaker 1: three New Mexico residents. The judge's decisions seemed pretty far reaching, 571 00:32:07,120 --> 00:32:13,120 Speaker 1: considering that Griffin had only been convicted of trespass, a misdemeanor, 572 00:32:13,360 --> 00:32:15,720 Speaker 1: and the judge went on to rule for the first 573 00:32:15,760 --> 00:32:20,480 Speaker 1: time that January six was an insurrection. That's right. There 574 00:32:20,480 --> 00:32:23,560 Speaker 1: are a couple of really really significant parts of the 575 00:32:23,680 --> 00:32:26,720 Speaker 1: judge's ruling. One was that, you know, this was the 576 00:32:26,760 --> 00:32:30,000 Speaker 1: first time that a judge ruled that, as a matter 577 00:32:30,040 --> 00:32:33,200 Speaker 1: of law, under the fourteenth Amendment, what happened on January 578 00:32:33,200 --> 00:32:36,160 Speaker 1: six was an insurrection. And the other part was his 579 00:32:36,280 --> 00:32:41,840 Speaker 1: finding that what Griffin did constituted participating in the insurrection. 580 00:32:41,920 --> 00:32:46,120 Speaker 1: The judge specifically found that the fact that Griffin himself 581 00:32:46,240 --> 00:32:49,880 Speaker 1: didn't engage in violence was not sufficient to say that 582 00:32:49,960 --> 00:32:53,360 Speaker 1: he was not a participant in the insurrection, because he 583 00:32:53,480 --> 00:32:58,000 Speaker 1: had incited and encouraged the crowd. He was part of 584 00:32:58,000 --> 00:33:00,920 Speaker 1: this crowd that that that could be surrection, and that's 585 00:33:00,960 --> 00:33:03,600 Speaker 1: one of the ways that this case could have, you know, 586 00:33:03,720 --> 00:33:08,240 Speaker 1: pretty broad application gone forward. We'll explain that because this 587 00:33:08,400 --> 00:33:11,800 Speaker 1: is the first you know, he's the first person associated 588 00:33:11,840 --> 00:33:14,440 Speaker 1: with the January six insurrection to be kicked out of 589 00:33:14,440 --> 00:33:18,000 Speaker 1: office under the Constitution. But it's a state court judge. 590 00:33:18,400 --> 00:33:20,840 Speaker 1: So what do you think the impact is. Well, one 591 00:33:20,840 --> 00:33:23,520 Speaker 1: of the things that it does is that it makes 592 00:33:23,560 --> 00:33:28,120 Speaker 1: clear that the provision in the Constitution, which had not 593 00:33:28,440 --> 00:33:32,040 Speaker 1: been enforced by a judge in over a hundred and 594 00:33:32,080 --> 00:33:36,080 Speaker 1: fifty years and had been largely forgotten, that this is 595 00:33:36,120 --> 00:33:38,840 Speaker 1: a provision that is still meaningful and could still be used. 596 00:33:39,080 --> 00:33:42,000 Speaker 1: I think up until the judge's decision, it was kind 597 00:33:42,000 --> 00:33:45,040 Speaker 1: of theoretical. It was something that people could point to, 598 00:33:45,160 --> 00:33:48,000 Speaker 1: but it wasn't clear that it could be successfully applied 599 00:33:48,400 --> 00:33:51,520 Speaker 1: in the modern day. And certainly, as we looked at it, 600 00:33:51,760 --> 00:33:55,240 Speaker 1: what people like Griffin engaged in on January six was 601 00:33:55,280 --> 00:33:58,760 Speaker 1: exactly the kind of event that the framers of the 602 00:33:58,840 --> 00:34:01,240 Speaker 1: Furting demandment were worried about, and it ought to apply. 603 00:34:01,840 --> 00:34:04,040 Speaker 1: And you know, this was sort of proof of concept 604 00:34:04,200 --> 00:34:08,520 Speaker 1: that judge looking at that law, looking at the facts 605 00:34:08,520 --> 00:34:11,840 Speaker 1: could find it applicable here, and you're right, this is 606 00:34:11,880 --> 00:34:16,719 Speaker 1: a state court finding. It's not binding precedent elsewhere in 607 00:34:16,760 --> 00:34:20,520 Speaker 1: the country. But we think that it's going to have 608 00:34:20,840 --> 00:34:25,360 Speaker 1: enormous persuasive value, both in terms of people thinking about 609 00:34:25,400 --> 00:34:28,600 Speaker 1: whether they could bring an action to disqualify someone under 610 00:34:28,719 --> 00:34:32,960 Speaker 1: the fourteenth Amendment who participated in insurrection, and also the 611 00:34:33,000 --> 00:34:35,080 Speaker 1: courts thinking that, you know, this is kind of a 612 00:34:35,120 --> 00:34:38,760 Speaker 1: plunge that they can take, and as no A Book Binder, 613 00:34:38,880 --> 00:34:43,120 Speaker 1: director of Citizens for Responsibility and Ethics in Washington, speaking 614 00:34:43,160 --> 00:34:46,120 Speaker 1: with Bloomberg student Grosso. Catch more of that interview, plus 615 00:34:46,160 --> 00:34:48,960 Speaker 1: analysis of the latest legal news, by subscribing to the 616 00:34:49,000 --> 00:34:52,160 Speaker 1: Bloomberg Law Podcast or downloading the show at Bloomberg dot 617 00:34:52,200 --> 00:34:55,799 Speaker 1: com slash podcast. Attorneys can find exceptional legal research and 618 00:34:55,800 --> 00:34:58,920 Speaker 1: business development tools at Bloomberg Law dot com and the 619 00:34:58,920 --> 00:35:03,480 Speaker 1: Bloomberg terminal at b Law Go. Futures this morning they 620 00:35:03,560 --> 00:35:07,200 Speaker 1: are little changed and the tenure treasury up six thirty 621 00:35:07,360 --> 00:35:10,640 Speaker 1: seconds you three point to four percent. They yield on 622 00:35:10,719 --> 00:35:14,960 Speaker 1: the two year three point for three per cent. NIMEX 623 00:35:14,960 --> 00:35:17,640 Speaker 1: Screwed oil is down six tents percent at eighty one 624 00:35:18,440 --> 00:35:20,879 Speaker 1: nine cents a barrel. Still ahead of Bloomberg day break, 625 00:35:20,880 --> 00:35:22,960 Speaker 1: we have a check on the business headlines and all 626 00:35:23,000 --> 00:35:25,480 Speaker 1: the news you need to start your day. And this 627 00:35:25,840 --> 00:35:26,520 Speaker 1: is Bloomberg