1 00:00:01,639 --> 00:00:04,720 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:04,840 --> 00:00:08,639 Speaker 1: day Break for Thursday, February two. Coming up, This sour. 3 00:00:08,880 --> 00:00:11,800 Speaker 1: It is the worst security crisis in Europe since World 4 00:00:11,800 --> 00:00:15,280 Speaker 1: War Two. Russia launches missiles, artillery and air attacks on 5 00:00:15,440 --> 00:00:18,680 Speaker 1: Ukraine vlodom your Plutin vows to demilitarize the country and 6 00:00:18,720 --> 00:00:22,920 Speaker 1: replace its leaders. A conflict upbands and markets says global sucks, tumble, 7 00:00:23,000 --> 00:00:25,880 Speaker 1: treasuries rally and oil searches stop on that and d 8 00:00:26,000 --> 00:00:29,120 Speaker 1: A prosecutors probing the criminal case against former President Trump 9 00:00:29,200 --> 00:00:32,720 Speaker 1: up quits. Plus Canada flips its emergency powers after ending 10 00:00:32,760 --> 00:00:36,000 Speaker 1: truck protests on Michael darn More, I'm John Stashnower and 11 00:00:36,040 --> 00:00:38,519 Speaker 1: sports Kemba Walker will not play again this season for 12 00:00:38,560 --> 00:00:40,680 Speaker 1: the next a loss for St. John's. The Nets and 13 00:00:40,760 --> 00:00:45,600 Speaker 1: Rangers both have games tonight. That's all straight Ahead on 14 00:00:45,800 --> 00:00:51,560 Speaker 1: Bloomberg day Break on Bloomberg Eliban Trio, New York, Bloomberg one, Washington, 15 00:00:51,680 --> 00:00:55,680 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixty, 16 00:00:55,760 --> 00:00:59,760 Speaker 1: San Francisco, Sirius x M one nineteen and around the 17 00:00:59,760 --> 00:01:02,520 Speaker 1: world Old on Bloomberg Radio dot Com and via the 18 00:01:02,640 --> 00:01:10,839 Speaker 1: Bloomberg Business. I'm good morning, I'm Karen Moscow. I'm Nathan Hagar. 19 00:01:10,880 --> 00:01:14,320 Speaker 1: Bloomberg Daybreak brought to you by SEI. Crises emphasized character 20 00:01:14,360 --> 00:01:17,600 Speaker 1: and partnership, one mission, one community, SEI go to se 21 00:01:17,640 --> 00:01:21,000 Speaker 1: I C dot Com, slash i m S. Global stocks 22 00:01:21,040 --> 00:01:25,200 Speaker 1: tumbling this morning, Energy prices surging as Russia attacks Ukraine. 23 00:01:25,280 --> 00:01:27,080 Speaker 1: Five oh one on Wall Street. We check the markets 24 00:01:27,080 --> 00:01:30,160 Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg. Right 25 00:01:30,160 --> 00:01:32,760 Speaker 1: now is in p futures are down eighties six points. 26 00:01:33,000 --> 00:01:36,680 Speaker 1: Now Future is down six hundred eighty five. Nasdack futures 27 00:01:36,680 --> 00:01:39,399 Speaker 1: down at three hundred forty six. That's down two point 28 00:01:39,480 --> 00:01:42,680 Speaker 1: six percent. Ten. Your treasury up one in one thirty second. 29 00:01:42,720 --> 00:01:45,520 Speaker 1: The yield one point eight seven percent, Nathan turn. This 30 00:01:45,640 --> 00:01:48,680 Speaker 1: huge market reaction follows the latest developments out of Ukraine. 31 00:01:48,720 --> 00:01:52,440 Speaker 1: Russian forces have attack targets across the country. Ukraine is 32 00:01:52,480 --> 00:01:55,880 Speaker 1: calling this a full scale invasion. Amy Morris joins us 33 00:01:55,880 --> 00:01:59,520 Speaker 1: with the latest from our Bloomberg newsroom in Washington. Russia 34 00:01:59,600 --> 00:02:03,120 Speaker 1: launched a barrage of missile, artillery and air attacks, triggering 35 00:02:03,120 --> 00:02:07,040 Speaker 1: the worst security crisis Europe has witnessed in decades. Ukraine's 36 00:02:07,080 --> 00:02:10,480 Speaker 1: border guard says it's being shelled from five regions, including 37 00:02:10,520 --> 00:02:13,160 Speaker 1: from Crimea in the south and Belarus to the north, 38 00:02:13,360 --> 00:02:16,799 Speaker 1: and that Russian forces had crossed into the country. Citizens 39 00:02:16,840 --> 00:02:20,360 Speaker 1: are being moved into shelters. Security camera footage shows a 40 00:02:20,400 --> 00:02:24,400 Speaker 1: line of Russian military vehicles crossing into Ukraine from Crimea. 41 00:02:24,840 --> 00:02:27,920 Speaker 1: President Biden plans to address the American people who announce 42 00:02:28,000 --> 00:02:31,639 Speaker 1: further punishments to be placed on Moscow in Washington. I'm 43 00:02:31,639 --> 00:02:34,079 Speaker 1: Amy Morris Bloomberg Daybreak, All right, Amy, thank you. And 44 00:02:34,280 --> 00:02:38,200 Speaker 1: Ukraine President Vladimir Zelenski has imposed martial law. He had 45 00:02:38,240 --> 00:02:43,800 Speaker 1: this message for Ukrainian citizens. We don't need a cold 46 00:02:43,919 --> 00:02:46,960 Speaker 1: or hot or hybrid war, but if we are attacked 47 00:02:46,960 --> 00:02:49,760 Speaker 1: by troops, if they try to take away our country, 48 00:02:49,800 --> 00:02:52,680 Speaker 1: our freedom of life, the lives of our children, we 49 00:02:52,720 --> 00:02:56,520 Speaker 1: will defend ourselves. Ukrainian President vladimir's Lensky. He says he 50 00:02:56,680 --> 00:02:59,959 Speaker 1: is building an anti Putin coalition after speaking with several 51 00:03:00,000 --> 00:03:03,480 Speaker 1: world leaders. He calls for immediate sanctions on Russia, as 52 00:03:03,520 --> 00:03:06,880 Speaker 1: well as defense and financial support for Ukraine. We meantime 53 00:03:06,919 --> 00:03:09,800 Speaker 1: in Russia Karin, President Vladimir Putin announced the attack in 54 00:03:09,800 --> 00:03:13,040 Speaker 1: a televised address to his nation, we bring it to Industria. 55 00:03:13,200 --> 00:03:17,080 Speaker 1: I decided to conduct a special military operation. Its goal 56 00:03:17,200 --> 00:03:20,119 Speaker 1: is the protection of the people who for eight years 57 00:03:20,120 --> 00:03:24,840 Speaker 1: suffered from abuse and genocide from the Kiev regime. Despite 58 00:03:24,840 --> 00:03:27,280 Speaker 1: the attack, President Putin insists he does not plan to 59 00:03:27,400 --> 00:03:31,680 Speaker 1: occupy Ukraine. Nathan Putin's speech lasted twenty eight minutes. He 60 00:03:31,720 --> 00:03:34,800 Speaker 1: claimed the US and its allies crossed Russia's red lines 61 00:03:34,880 --> 00:03:37,840 Speaker 1: by expanding the NATO alliance. We get more from Bloomberg 62 00:03:37,840 --> 00:03:41,640 Speaker 1: News editor Tony Halpin. In Moscow, he made a long 63 00:03:41,720 --> 00:03:45,120 Speaker 1: speech in which he basically argued that the West continued 64 00:03:45,120 --> 00:03:47,760 Speaker 1: to present a treat to Russia and that expansion of 65 00:03:47,840 --> 00:03:52,880 Speaker 1: NATO had crossed Russia's red lines UM in regard to Ukraine, 66 00:03:52,880 --> 00:03:54,880 Speaker 1: and as a result of that, he was launching this 67 00:03:55,000 --> 00:03:58,280 Speaker 1: military operation UM. Initially, he spoke about the don bats, 68 00:03:58,440 --> 00:04:03,160 Speaker 1: then spoke surther about not demilitarizing Ukraine as a whole. 69 00:04:03,440 --> 00:04:07,000 Speaker 1: Bloomberg's Tony Halpin says President Putin claims he is taking 70 00:04:07,040 --> 00:04:10,520 Speaker 1: action to protect civilians from Ukraine's military, though there's no 71 00:04:10,600 --> 00:04:14,240 Speaker 1: evidence they were under any threat. Ukraine's Foreign minister Demtro 72 00:04:14,320 --> 00:04:17,080 Speaker 1: Kuleba says Putin could have been deterred if there had 73 00:04:17,120 --> 00:04:20,159 Speaker 1: been sanctions sooner. Even before the attack, he was calling 74 00:04:20,200 --> 00:04:23,520 Speaker 1: for stronger penalties on Russia. It sends a strong message 75 00:04:23,560 --> 00:04:25,599 Speaker 1: to put In, but it still doesn't stop him. So 76 00:04:25,720 --> 00:04:27,920 Speaker 1: it means we need more sanctions. We need the second 77 00:04:27,920 --> 00:04:31,719 Speaker 1: wave and then probably the third wave until it gets 78 00:04:31,720 --> 00:04:35,120 Speaker 1: clear to him that he shouldn't make any step. For 79 00:04:35,279 --> 00:04:38,400 Speaker 1: the Ukrainian farm Minister de Vitro Kuleba spoke exclusively to 80 00:04:38,400 --> 00:04:40,800 Speaker 1: Bloomberg Radio and Television. You can stay tuned for more 81 00:04:40,800 --> 00:04:42,960 Speaker 1: of that conversation. Will have it for you shortly here 82 00:04:43,000 --> 00:04:45,720 Speaker 1: on Bloomberg Daybreak. Well, Nathan, as we said, the Russian 83 00:04:45,720 --> 00:04:49,600 Speaker 1: attack is upending Marcus this morning, stocks tumbling, treasuries rallying, 84 00:04:49,640 --> 00:04:52,960 Speaker 1: oil surging, the plunge iniquities is worse in Europe at 85 00:04:52,960 --> 00:04:55,000 Speaker 1: the moment. And we go live to London and get 86 00:04:55,040 --> 00:04:57,520 Speaker 1: the very latest with the Bloomberg Daybreak of Europe anchor 87 00:04:57,640 --> 00:05:01,520 Speaker 1: Caroline Hepcker. Good morning, Caroline, and Nathan, Good morning. Russia's 88 00:05:01,560 --> 00:05:04,520 Speaker 1: invasion of Ukraine as sets up the worst conflict in 89 00:05:04,560 --> 00:05:07,360 Speaker 1: Europe since World War Two. Russia's moex has plunged the 90 00:05:07,360 --> 00:05:10,120 Speaker 1: most on record, wiping out about a hundred and eighty 91 00:05:10,160 --> 00:05:12,840 Speaker 1: billion dollars in stock market value. The ruble force to 92 00:05:12,880 --> 00:05:16,320 Speaker 1: a record low against the dollar. Germany Zeta dak slumps 93 00:05:16,320 --> 00:05:18,760 Speaker 1: three point seven percent at the moment, the euro has 94 00:05:18,839 --> 00:05:23,000 Speaker 1: dropped two European bonds have soared along with commodities. Europe's 95 00:05:23,120 --> 00:05:27,280 Speaker 1: energy prices the benchmark in the Netherlands futures rising as 96 00:05:27,360 --> 00:05:30,320 Speaker 1: much as forty one percent. The dollars Swiss frank have 97 00:05:30,440 --> 00:05:33,440 Speaker 1: also jumped up half of one percent. Hard This Morning, 98 00:05:33,680 --> 00:05:36,920 Speaker 1: Live in London on Caroline help giveful Bloomberg Daybreak, Caroline, 99 00:05:36,960 --> 00:05:39,560 Speaker 1: thank you. The losses were also heavy in Asia over night. 100 00:05:39,640 --> 00:05:42,280 Speaker 1: Let's get that recount from Bloombridge. Juliette Sally in our 101 00:05:42,320 --> 00:05:44,880 Speaker 1: Singapore bureau. Good morning, Juliette, Good morning, Nathan, and carry 102 00:05:44,920 --> 00:05:47,360 Speaker 1: the MSCI Asia Pacific Index. Headed's the biggest one day 103 00:05:47,440 --> 00:05:50,320 Speaker 1: drop in a year, falling to November twenty twenty lows 104 00:05:50,360 --> 00:05:54,240 Speaker 1: as markets from Singapore, Australia, Hong Kong extended losses of 105 00:05:54,279 --> 00:05:57,920 Speaker 1: around three percent. Australia's tenure bond you're dropping as much 106 00:05:57,960 --> 00:06:00,599 Speaker 1: as eleven basis points. The Yen lady gains in the 107 00:06:00,640 --> 00:06:03,240 Speaker 1: G ten space elsewhere the one weekend is the Bank 108 00:06:03,279 --> 00:06:05,720 Speaker 1: of Korea kept rates on hold at one point to five, 109 00:06:06,440 --> 00:06:09,520 Speaker 1: Governor Lee noting the Ukraine crossis could have a significant 110 00:06:09,560 --> 00:06:14,080 Speaker 1: impact on inflation in Singapore. Juliette Sale Bloomber daybreak. All right, Julia, 111 00:06:14,160 --> 00:06:16,000 Speaker 1: thank you. When it comes to the attack, China is 112 00:06:16,000 --> 00:06:19,640 Speaker 1: calling for restraint, but it's not condemning Russia's actions. Beijing 113 00:06:19,680 --> 00:06:22,800 Speaker 1: repeated criticism that the US was to blame for hyping 114 00:06:22,800 --> 00:06:25,800 Speaker 1: the prospect of war in Eastern Europe. It says China 115 00:06:25,839 --> 00:06:29,040 Speaker 1: and Russia our strategic partners and trade will continue as normal. 116 00:06:29,279 --> 00:06:31,120 Speaker 1: Well in the meantime here and we are seeing major 117 00:06:31,200 --> 00:06:34,240 Speaker 1: moves in energy markets. This morning. Oil is surging, crossing 118 00:06:34,279 --> 00:06:36,360 Speaker 1: a hundred dollars of barrel for the first time since 119 00:06:37,520 --> 00:06:39,920 Speaker 1: It could go even higher from here, according to Neil 120 00:06:39,960 --> 00:06:42,720 Speaker 1: Beverage at Sanford Bernstein. Yeah, I don't think we've seen 121 00:06:42,800 --> 00:06:47,720 Speaker 1: the highest prices yetleman. I accept prices rally hundred hunts 122 00:06:47,760 --> 00:06:51,000 Speaker 1: the barrel Neil Beverage at Sanford Bernstein and checking prices now. 123 00:06:51,000 --> 00:06:53,400 Speaker 1: Brent crude is up eight point two per cent at 124 00:06:53,440 --> 00:06:56,120 Speaker 1: a hundred four dollars seventy six cents of barrel West 125 00:06:56,160 --> 00:06:58,880 Speaker 1: Texas Intermediate. It's up almost eight percent now at ninety 126 00:06:58,960 --> 00:07:02,719 Speaker 1: nine dollars third seven cents, and stocks are falling around 127 00:07:02,720 --> 00:07:05,239 Speaker 1: the world. We have SMP futures down seventy eight points 128 00:07:05,320 --> 00:07:08,799 Speaker 1: right now, Down futures down six d twenty, Nasdaq futures 129 00:07:08,800 --> 00:07:10,800 Speaker 1: lower by three under ten points. That's the drop of 130 00:07:10,840 --> 00:07:13,560 Speaker 1: two point three The tenure Treasury up one and one 131 00:07:13,600 --> 00:07:16,320 Speaker 1: thirty second with a yield one point eight seven percent. 132 00:07:16,920 --> 00:07:19,320 Speaker 1: Local headlines and a check of sports. Next to this 133 00:07:19,360 --> 00:07:24,880 Speaker 1: is Bloomberg. It's south five oh seven on Wall Street, 134 00:07:25,160 --> 00:07:28,280 Speaker 1: one degrees in Central Park with some winter weather expected 135 00:07:28,360 --> 00:07:30,400 Speaker 1: later this evening. We'll get details on that for you 136 00:07:30,440 --> 00:07:32,840 Speaker 1: as shortly as we continue to monitor events in Ukraine. 137 00:07:32,880 --> 00:07:34,960 Speaker 1: Michael Barr is here with more on what's going on 138 00:07:35,000 --> 00:07:36,800 Speaker 1: in New York and around the world. Good morning, Michael, 139 00:07:36,880 --> 00:07:39,720 Speaker 1: Good morning Nathan Winter. Every time you think you're out, 140 00:07:39,760 --> 00:07:41,920 Speaker 1: they pulled you back in. It was in the mid 141 00:07:42,040 --> 00:07:45,920 Speaker 1: sixties in New York City yesterday. By tonight, here comes 142 00:07:45,920 --> 00:07:49,760 Speaker 1: the snow. Bloomberg Minirelogios Rob Carolin has the latest. Michael. 143 00:07:49,760 --> 00:07:52,120 Speaker 1: The Tri State area has a messy mix of precipitation 144 00:07:52,160 --> 00:07:54,240 Speaker 1: headed our way will look for a few leak day 145 00:07:54,280 --> 00:07:56,400 Speaker 1: snow showers, but it looks like snow develops during the 146 00:07:56,440 --> 00:07:59,120 Speaker 1: evening along the coast. It's gonna change over to sleep, 147 00:07:59,160 --> 00:08:01,440 Speaker 1: then go over to freezing rain. That should limit the 148 00:08:01,440 --> 00:08:03,840 Speaker 1: accumulations in the city to about one to three inches. 149 00:08:04,160 --> 00:08:06,200 Speaker 1: It's the areas to the northwest and the north of 150 00:08:06,240 --> 00:08:08,160 Speaker 1: the city that could see three to six inches of 151 00:08:08,200 --> 00:08:10,520 Speaker 1: snow before that change over to sleep, then some freezing 152 00:08:10,600 --> 00:08:13,080 Speaker 1: rain and rain. It all should wind down very early 153 00:08:13,120 --> 00:08:16,720 Speaker 1: tomorrow morning, improving conditions tomorrow afternoon. Michael rob thank you 154 00:08:16,800 --> 00:08:19,560 Speaker 1: very much. The future of the Manhattan criminal investigation and 155 00:08:19,600 --> 00:08:22,400 Speaker 1: to former President Donald Trump is now in question. Two 156 00:08:22,520 --> 00:08:26,840 Speaker 1: prosecutors in charge the Manhattan District Attorney's criminal investigation into 157 00:08:26,920 --> 00:08:31,200 Speaker 1: Trump have suddenly resigned. The spokesperson for d A. Alvin 158 00:08:31,240 --> 00:08:35,679 Speaker 1: Bragg says Kerry Dunn and Mark Pomeran's both resigned. Both 159 00:08:35,760 --> 00:08:39,360 Speaker 1: started on the probe under former District Attorney Cyrus Fans Junior, 160 00:08:39,360 --> 00:08:42,520 Speaker 1: and we're asked to stay when Bragg took office. Legal 161 00:08:42,559 --> 00:08:45,319 Speaker 1: analyist Lorie Levinson was asked about the impact on the 162 00:08:45,320 --> 00:08:48,720 Speaker 1: criminal probe. It's hard to know exactly because it's a 163 00:08:48,720 --> 00:08:51,880 Speaker 1: bit like reading Tea leaves. But when you have the 164 00:08:52,000 --> 00:08:55,520 Speaker 1: prosecutors who were brought in to put together a case 165 00:08:55,559 --> 00:08:59,640 Speaker 1: against Trump decide abruptly that they're leaving the d a's 166 00:08:59,720 --> 00:09:03,920 Speaker 1: off us, it's at least a suggestion that there's disagreements 167 00:09:04,000 --> 00:09:08,800 Speaker 1: among the head office. Loyola Law School professor Lori Levinson. Meanwhile, 168 00:09:08,920 --> 00:09:12,680 Speaker 1: the separate criminal case being conducted in cooperation with the 169 00:09:12,679 --> 00:09:16,880 Speaker 1: New York Attorney General, Latitia James continues. New York Mayor 170 00:09:17,000 --> 00:09:19,520 Speaker 1: Eric Adams says he could be easing COVID restrictions in 171 00:09:19,559 --> 00:09:22,840 Speaker 1: the city soon. Adams said yesterday he will likely be 172 00:09:22,920 --> 00:09:26,680 Speaker 1: easing some of the indoor mask and vaccine mandates. The 173 00:09:26,760 --> 00:09:29,560 Speaker 1: mayor says he will release more details in the coming weeks. 174 00:09:29,920 --> 00:09:32,480 Speaker 1: A former New York City of Police union president was 175 00:09:32,520 --> 00:09:36,080 Speaker 1: released on a quarter million dollars bail. At Mullins pleaded 176 00:09:36,120 --> 00:09:38,840 Speaker 1: not guilty to stealing hundreds of thousands of dollars from 177 00:09:38,880 --> 00:09:42,360 Speaker 1: the union. Canada is lifting the emergency powers and enacted 178 00:09:42,400 --> 00:09:44,960 Speaker 1: more than a week ago to get street protests under control. 179 00:09:45,320 --> 00:09:48,840 Speaker 1: Hundreds of semis and other heavy vehicles blockaded downtown Ottawa 180 00:09:48,960 --> 00:09:52,000 Speaker 1: for weeks. Global News twenty four hours a day on 181 00:09:52,080 --> 00:09:55,400 Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty 182 00:09:55,440 --> 00:09:58,240 Speaker 1: seven hundred journalists and analysts more than a hundred twenty countries. 183 00:09:58,360 --> 00:10:06,200 Speaker 1: I'm Michael Barrn. This is bloom Thanks Michael. Count up 184 00:10:06,240 --> 00:10:08,120 Speaker 1: to five cent on Wall Street time for the Bloomberg 185 00:10:08,160 --> 00:10:11,400 Speaker 1: Sports Update with John Sasha Nicks put out a surprising 186 00:10:11,480 --> 00:10:14,360 Speaker 1: statement yesterday that the season is over for Kemba Walker, 187 00:10:14,440 --> 00:10:16,760 Speaker 1: not due to injury. Although Walker has a knee injury 188 00:10:16,800 --> 00:10:19,280 Speaker 1: that has contributed him to not playing like he did 189 00:10:19,280 --> 00:10:21,360 Speaker 1: in Charlotte, it was a fourth time. Also, this appears 190 00:10:21,400 --> 00:10:23,280 Speaker 1: to be at least somewhat of a mutual decision and 191 00:10:23,440 --> 00:10:26,240 Speaker 1: ends a strange season for the New York City native. 192 00:10:26,320 --> 00:10:29,240 Speaker 1: He was the starting point guard, then got taken completely 193 00:10:29,240 --> 00:10:30,880 Speaker 1: out of the rotation, and then due to injuries and 194 00:10:30,920 --> 00:10:33,440 Speaker 1: COVID he returned again as the starter. Actually had a 195 00:10:33,440 --> 00:10:36,040 Speaker 1: forty four point game, but now his season is over. 196 00:10:36,160 --> 00:10:38,560 Speaker 1: Nicks returned to the All Star Break tomorrow in Miami. 197 00:10:38,640 --> 00:10:41,199 Speaker 1: Net's got some good news on their point guard. Has 198 00:10:41,360 --> 00:10:43,439 Speaker 1: just heard earlier Mayor Adams looking to phase out the 199 00:10:43,520 --> 00:10:47,080 Speaker 1: vaccine mandate and that would allow the unvaccinated Kyrie Irby 200 00:10:47,120 --> 00:10:49,079 Speaker 1: to play home games for the first time this season 201 00:10:49,440 --> 00:10:52,200 Speaker 1: of Brooklyn coach of Steve Natt, I think he's working 202 00:10:52,240 --> 00:10:55,000 Speaker 1: towards being able to play in every game. So off 203 00:10:55,040 --> 00:10:58,080 Speaker 1: the man dates lifted, the expectation would be that he 204 00:10:58,080 --> 00:11:00,760 Speaker 1: can play in all our games. From so I think 205 00:11:00,800 --> 00:11:02,439 Speaker 1: that's what he's been waiting for it and what he's 206 00:11:02,480 --> 00:11:04,880 Speaker 1: excited about. And if the opportunity arises, as you know, 207 00:11:05,000 --> 00:11:07,680 Speaker 1: the playing the goal is from the play everything. Next tonight, 208 00:11:07,720 --> 00:11:09,960 Speaker 1: returned to the All Star Break, they host Boston St. 209 00:11:10,000 --> 00:11:12,120 Speaker 1: John's at a seven point land at the half back game, 210 00:11:12,200 --> 00:11:14,640 Speaker 1: crighton to win eighty one seventy eight. Blue Jays six 211 00:11:14,679 --> 00:11:17,040 Speaker 1: point in a row for rough night for Julian to Pagny, 212 00:11:17,080 --> 00:11:19,480 Speaker 1: the Red Storms leading score shot just three of sixteen 213 00:11:19,480 --> 00:11:23,480 Speaker 1: Seaton Hall Bey Butler sixty sixty. Piement's got thirty five 214 00:11:23,480 --> 00:11:25,920 Speaker 1: points from the bench. Much improved fordam beat less sal 215 00:11:26,040 --> 00:11:29,199 Speaker 1: six fifty four. Rams haveing their best season since two 216 00:11:29,240 --> 00:11:32,760 Speaker 1: thousand sixteen. Rutgers lost at Michigan seventy one sixty two. 217 00:11:32,760 --> 00:11:36,120 Speaker 1: Wolverine's playing for the first time without suspended coach Jawan Howard. 218 00:11:36,520 --> 00:11:40,080 Speaker 1: MLB announced if there's no lockout, ending labor deal, by Monday. 219 00:11:40,160 --> 00:11:42,320 Speaker 1: They will not be eight full one hundred and sixty 220 00:11:42,320 --> 00:11:46,280 Speaker 1: two games. John stash Award Bloomberg Sports Nat All right, John, 221 00:11:46,320 --> 00:11:48,640 Speaker 1: thank your SMP future is now down seventy four points. 222 00:11:48,640 --> 00:11:51,280 Speaker 1: Sound futures down six hundred four Nassect futures lower by 223 00:11:51,280 --> 00:11:54,040 Speaker 1: two hundred ninety nine points. Brent crewde up eight point 224 00:11:54,080 --> 00:11:57,800 Speaker 1: three percent a hundred four dollars eighty one cents a barrel. 225 00:11:58,040 --> 00:12:01,600 Speaker 1: The latest on Ukraine Next with Bloomberg Rosalind Mathison, Stay 226 00:12:01,679 --> 00:12:09,000 Speaker 1: with us. This is Bloomberg Bloomberg eleven three oh weather cloudy, 227 00:12:09,080 --> 00:12:12,040 Speaker 1: snowshowers possible eate today, changing the sleet and rain overnight, 228 00:12:12,040 --> 00:12:14,880 Speaker 1: with highs in the upper thirties today, upper thirties tomorrow, 229 00:12:14,880 --> 00:12:17,600 Speaker 1: with rain ending. It'll be sunny in mid thirties by Saturday. 230 00:12:17,640 --> 00:12:23,760 Speaker 1: Currently thirty one in Central Park Markets, headlines and breaking 231 00:12:23,760 --> 00:12:26,680 Speaker 1: news twenty four hours a day at Bloomberg dot Com 232 00:12:26,760 --> 00:12:31,000 Speaker 1: a Bloomberg business and at Bloomberg Quicktape, She's a Bloomberg 233 00:12:31,080 --> 00:12:40,400 Speaker 1: Business clash and I'm Karin Moscow. Global stocks in U 234 00:12:40,480 --> 00:12:44,200 Speaker 1: stock index futures are tumbling this morning, while bonds and 235 00:12:44,280 --> 00:12:47,760 Speaker 1: oil sore as Russian President Vladimir Plutin's decision to order 236 00:12:47,760 --> 00:12:51,640 Speaker 1: a military attack on Ukraine cast of Paul over global markets. 237 00:12:51,720 --> 00:12:55,240 Speaker 1: Brent crude is jumping. It's over a hundred and five 238 00:12:55,320 --> 00:12:59,120 Speaker 1: dollars a barrel. That's for the first time since It's 239 00:12:59,160 --> 00:13:02,120 Speaker 1: up eight point four percent. I'm ex Scrude oil also 240 00:13:02,240 --> 00:13:04,679 Speaker 1: jumping up eight and a quarter percent at ninety nine 241 00:13:04,679 --> 00:13:08,040 Speaker 1: dollars sixty seven cents and barrel again. Futures are lower, 242 00:13:08,040 --> 00:13:10,960 Speaker 1: with SMP futures down eighty two points down, futures down 243 00:13:11,000 --> 00:13:14,760 Speaker 1: six hundred sixty one and NASDACK futures down three hundred 244 00:13:14,840 --> 00:13:17,840 Speaker 1: forty that's down two point six percent. The decks in 245 00:13:17,920 --> 00:13:21,560 Speaker 1: Germany is down four point one percent. Ten year treasury 246 00:13:21,600 --> 00:13:23,480 Speaker 1: up one in three thirty seconds. He had one point 247 00:13:23,520 --> 00:13:25,920 Speaker 1: eight six percent, and they yield on the two year 248 00:13:26,000 --> 00:13:29,959 Speaker 1: one point for nine percent. Comes Gold up three percent, 249 00:13:30,080 --> 00:13:33,839 Speaker 1: up fifty eight dollars at nineteen sixty eight fifty announced 250 00:13:34,000 --> 00:13:36,800 Speaker 1: the euro one point one one seven against the dollar, 251 00:13:36,880 --> 00:13:39,520 Speaker 1: British pound one point three four two eight, the yet 252 00:13:39,600 --> 00:13:42,839 Speaker 1: at one fourteen point seven two and watching bitcoin this 253 00:13:42,880 --> 00:13:46,360 Speaker 1: morning moving lower at thirty five thousand, two hundred dollars. 254 00:13:46,600 --> 00:13:49,240 Speaker 1: That's a bloomberg business Flash. Now here's Michael Barr with 255 00:13:49,320 --> 00:13:51,840 Speaker 1: Moore on what's going on around the world. Muncle, Good morning, 256 00:13:52,160 --> 00:13:56,080 Speaker 1: Good morning, Karen. Ukrainian President vladimir's Lensky is urging global 257 00:13:56,160 --> 00:14:00,240 Speaker 1: leaders to provide defense assistance to Ukraine and help sect 258 00:14:00,320 --> 00:14:04,440 Speaker 1: it's airspace from Russia. It comes amid Russia's attack on Ukraine. 259 00:14:04,640 --> 00:14:07,880 Speaker 1: Zelenski said that Russia has unleashed war with Ukraine and 260 00:14:07,920 --> 00:14:12,320 Speaker 1: as declared martial law. Ukraine's Interior ministry said that the 261 00:14:12,360 --> 00:14:15,800 Speaker 1: capital Kiev was being targeted and urged citizens to go 262 00:14:15,920 --> 00:14:19,040 Speaker 1: to shelters. In the US, President Joe Biden says he 263 00:14:19,080 --> 00:14:22,280 Speaker 1: will be imposing severe sanctions on the Russia. Major League 264 00:14:22,320 --> 00:14:25,240 Speaker 1: Baseball gave locked out players until Monday to salvage March 265 00:14:25,400 --> 00:14:29,640 Speaker 1: thirty feet openers and full season. MLB told the union 266 00:14:29,640 --> 00:14:32,680 Speaker 1: that games would be canceled if a labor contract is 267 00:14:32,720 --> 00:14:35,680 Speaker 1: not agreed to by then Global News twenty four hours 268 00:14:35,680 --> 00:14:38,960 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 269 00:14:39,000 --> 00:14:42,000 Speaker 1: more than twenty seven hundred journalists, analysts, and more than 270 00:14:42,040 --> 00:14:46,320 Speaker 1: a hundred twenty countries. Michael Barn, this is Bloomberg. Nathan Okay, Michael, Thanks, 271 00:14:46,320 --> 00:14:48,720 Speaker 1: It's five nineteen on Wall Street Live from the Bloomberg 272 00:14:48,760 --> 00:14:52,280 Speaker 1: Interactive Brooker Studios. This is Bloomberg Daybreak and Rosalin Mathison 273 00:14:52,360 --> 00:14:56,200 Speaker 1: joins us now Bloomberg News Executive editor for International Relations, 274 00:14:56,240 --> 00:15:00,640 Speaker 1: as we continue monitoring the war in Ukraine. Roz, Good morning. 275 00:15:00,800 --> 00:15:03,600 Speaker 1: This is the moment that many market participants, a lot 276 00:15:03,600 --> 00:15:08,040 Speaker 1: of analysts that couldn't happen, couldn't believe that Russian President 277 00:15:08,120 --> 00:15:12,120 Speaker 1: Vladimir Putin would move against Ukraine given the history in 278 00:15:12,200 --> 00:15:16,640 Speaker 1: that region. But here we are, Indeed, here we are, 279 00:15:16,640 --> 00:15:19,400 Speaker 1: and of course following weeks of warnings from the US, 280 00:15:19,640 --> 00:15:23,440 Speaker 1: UK and other Western nations that their intelligence was pointing 281 00:15:23,480 --> 00:15:26,920 Speaker 1: to this very moment, given the sustained build up of 282 00:15:27,000 --> 00:15:30,160 Speaker 1: troops around a large part of the Ukrainian border from 283 00:15:30,160 --> 00:15:33,120 Speaker 1: the north to the east, and of course naval vessels 284 00:15:33,480 --> 00:15:36,000 Speaker 1: in the south. And that's what we're seeing play out today, 285 00:15:36,040 --> 00:15:40,160 Speaker 1: which is a multi pronged attack on Ukraine from those 286 00:15:40,200 --> 00:15:44,920 Speaker 1: different directions. We've seen aerial shelling of cities, we're seeing 287 00:15:44,960 --> 00:15:47,800 Speaker 1: troops meeting, and that goes well beyond what the Russian 288 00:15:47,840 --> 00:15:50,520 Speaker 1: president was saying only a day or two ago, which 289 00:15:50,560 --> 00:15:53,640 Speaker 1: was that he might send what he called peacekeepers into 290 00:15:53,680 --> 00:15:57,560 Speaker 1: the disputed areas of eastern Ukraine. Only this is clearly 291 00:15:57,560 --> 00:16:00,680 Speaker 1: a full scale invasion, and Putain says in fact, he 292 00:16:00,720 --> 00:16:04,160 Speaker 1: wants to remove the government that's currently there. And we 293 00:16:04,240 --> 00:16:07,040 Speaker 1: had heard warnings in the lead up to this from 294 00:16:07,080 --> 00:16:11,480 Speaker 1: President Biden and allies in Europe that Russia might use 295 00:16:11,560 --> 00:16:15,240 Speaker 1: some kind of pretext to justify what we are seeing 296 00:16:15,280 --> 00:16:20,440 Speaker 1: now on the ground. Given that context, do we have 297 00:16:20,520 --> 00:16:23,560 Speaker 1: a sense that this is sort of played out the 298 00:16:23,600 --> 00:16:27,800 Speaker 1: way that the allies expected that it would, that that 299 00:16:27,800 --> 00:16:32,240 Speaker 1: Putin was going to go ahead in this fashion. Well, 300 00:16:32,280 --> 00:16:34,920 Speaker 1: certainly we saw that move earlier this week by the 301 00:16:35,000 --> 00:16:38,760 Speaker 1: Russian president to recognize the two breakaway areas in don 302 00:16:38,800 --> 00:16:42,480 Speaker 1: Bass in eastern Ukraine, and then he signed treaties with 303 00:16:42,520 --> 00:16:45,040 Speaker 1: them which allowed him to send troops in and to 304 00:16:45,080 --> 00:16:47,560 Speaker 1: put bases there. And of course now he says that 305 00:16:47,600 --> 00:16:50,760 Speaker 1: he needs to go in to help those separatists because 306 00:16:50,760 --> 00:16:53,360 Speaker 1: they asked him to do so, so that if there 307 00:16:53,400 --> 00:16:55,640 Speaker 1: was a pretext for his move today, that was it. 308 00:16:56,040 --> 00:16:58,920 Speaker 1: But obviously what he's doing is clearly going well beyond 309 00:16:59,680 --> 00:17:02,720 Speaker 1: just the dom Bass area and is a full attack 310 00:17:02,800 --> 00:17:06,560 Speaker 1: on Ukraine more properly. And the question is that what 311 00:17:06,800 --> 00:17:09,680 Speaker 1: is his final intention in all of that, and where 312 00:17:09,720 --> 00:17:11,720 Speaker 1: is that conflict handed that we're just very in the 313 00:17:11,720 --> 00:17:14,320 Speaker 1: early days here, and it's far too soon to say. Yeah. 314 00:17:14,320 --> 00:17:17,240 Speaker 1: It certainly is the key question here as we wait 315 00:17:17,400 --> 00:17:22,080 Speaker 1: for the US, Allies and Europeans to meet later on 316 00:17:22,320 --> 00:17:27,040 Speaker 1: this morning to discuss the situation and their response. I mean, 317 00:17:27,400 --> 00:17:30,639 Speaker 1: what could the response be at this point, given that 318 00:17:30,680 --> 00:17:33,480 Speaker 1: the threat of sanctions and the sanctions that have rolled 319 00:17:33,480 --> 00:17:36,000 Speaker 1: out so far as we're seeing, have failed to deter 320 00:17:36,160 --> 00:17:39,800 Speaker 1: potin in his intentions. What we're saying, as you say, 321 00:17:39,840 --> 00:17:44,120 Speaker 1: immediate responses from around the world, condemnation from many nations 322 00:17:44,600 --> 00:17:47,080 Speaker 1: in the West, and of course the US, the EU 323 00:17:47,240 --> 00:17:49,640 Speaker 1: and the UK all saying well, we're going to hit 324 00:17:49,680 --> 00:17:52,640 Speaker 1: you even harder with sanctions in the first round, because 325 00:17:52,680 --> 00:17:55,640 Speaker 1: admittedly that was pretty limited and didn't have that much 326 00:17:55,720 --> 00:17:57,280 Speaker 1: of an effect, so they're going to have to do 327 00:17:57,359 --> 00:18:00,560 Speaker 1: something bigger than that. What we'll probably see is sectoral 328 00:18:00,840 --> 00:18:05,639 Speaker 1: sanctions affecting things like energy, the technology sector, basically the 329 00:18:05,640 --> 00:18:09,280 Speaker 1: ability of Russia to buy key technology and access it. 330 00:18:09,440 --> 00:18:12,919 Speaker 1: Are funding again in various types of markets for the 331 00:18:12,960 --> 00:18:16,080 Speaker 1: financial sector as a whole. But the thing that would 332 00:18:16,080 --> 00:18:18,040 Speaker 1: be their nuclear option here is to cut them out 333 00:18:18,040 --> 00:18:21,240 Speaker 1: of the global payment system that's known as SWIFT, and 334 00:18:21,280 --> 00:18:23,439 Speaker 1: at this state, it doesn't seem as though that's going 335 00:18:23,480 --> 00:18:26,080 Speaker 1: to be on the table given the collateral damage that 336 00:18:26,119 --> 00:18:29,560 Speaker 1: would also call cause the economies of Europe and elsewhere 337 00:18:29,600 --> 00:18:32,359 Speaker 1: if it's imposed. That's probably where the line may get drawn. 338 00:18:32,640 --> 00:18:35,199 Speaker 1: The question is Russia has been so heavily sanctioned for 339 00:18:35,280 --> 00:18:37,840 Speaker 1: so many years, It's economy is sort of used to 340 00:18:37,880 --> 00:18:39,520 Speaker 1: it in a way, and there's become a bit more 341 00:18:39,520 --> 00:18:43,280 Speaker 1: self reliant, especially in terms of not needing so many imports, 342 00:18:43,320 --> 00:18:46,400 Speaker 1: and Putain's being boosted by the state of the commodities 343 00:18:46,440 --> 00:18:49,439 Speaker 1: market that's really helped him and his coffers. So the 344 00:18:49,520 --> 00:18:53,960 Speaker 1: question is what extent even harsher sanctions might have changing 345 00:18:54,080 --> 00:18:56,200 Speaker 1: his course on this. It seems like he's pretty set 346 00:18:56,280 --> 00:18:58,399 Speaker 1: with what he wants to do. Yeah, you mentioned the 347 00:18:58,440 --> 00:19:03,280 Speaker 1: difficulty that Europe faces on imposing sanctions that could go 348 00:19:03,400 --> 00:19:08,120 Speaker 1: even further given how entrenched the European economy is with Russia. 349 00:19:08,160 --> 00:19:11,840 Speaker 1: I mean, how much pain is Europe willing to take? Well, 350 00:19:11,880 --> 00:19:14,080 Speaker 1: that is the question. In the past few weeks we've 351 00:19:14,119 --> 00:19:16,879 Speaker 1: been hearing about a lot of division within Europe and 352 00:19:16,920 --> 00:19:19,640 Speaker 1: the US about how hard to go because as you say, 353 00:19:19,680 --> 00:19:23,080 Speaker 1: Europe is more exposed economically to Russia, not just reliant 354 00:19:23,119 --> 00:19:26,159 Speaker 1: on them for energy, but on other things also, and 355 00:19:26,240 --> 00:19:30,600 Speaker 1: so the impact on Europe could be markedly high, for example, 356 00:19:30,640 --> 00:19:33,560 Speaker 1: than it is on the US, and that's caused them 357 00:19:33,560 --> 00:19:37,159 Speaker 1: disquiet and Europe about how hard to go. So it 358 00:19:37,200 --> 00:19:39,960 Speaker 1: will be interesting to see from the European Union today 359 00:19:40,000 --> 00:19:42,920 Speaker 1: when they meet where that line is for them. We 360 00:19:43,040 --> 00:19:46,960 Speaker 1: can see just today with the rising energy markets, oil 361 00:19:47,000 --> 00:19:49,400 Speaker 1: prices and so on like that actually has a very 362 00:19:49,400 --> 00:19:52,960 Speaker 1: big impact on the European economy and that's certainly something 363 00:19:52,960 --> 00:19:55,680 Speaker 1: they'll be thinking about. Yeah, And as we will continue 364 00:19:55,680 --> 00:19:59,439 Speaker 1: to watch the market reaction as well. We're seeing a 365 00:19:59,680 --> 00:20:03,520 Speaker 1: sharp are rally in the energy sector right now, with 366 00:20:03,600 --> 00:20:07,119 Speaker 1: both Brent and West Texas intermediate crude up above a 367 00:20:07,200 --> 00:20:09,760 Speaker 1: hundred dollars of barrel. NIMEX Screwed is at a hundred 368 00:20:09,760 --> 00:20:13,400 Speaker 1: dollars fifteen cents and Brent is at one oh five nine. 369 00:20:13,520 --> 00:20:17,440 Speaker 1: Bloomberg's Rosalin Mathieson, our executive editor for International Relations, as 370 00:20:17,480 --> 00:20:21,800 Speaker 1: always good to get the very latest from Special Military Operation. 371 00:20:22,440 --> 00:20:24,879 Speaker 1: Its goal is the protection of the people who for 372 00:20:25,040 --> 00:20:29,840 Speaker 1: eight years suffered from abuse and genocide from the KIV regime. 373 00:20:30,480 --> 00:20:34,240 Speaker 1: Despite the attack, Russian President Putin insists he does not 374 00:20:34,440 --> 00:20:38,520 Speaker 1: plan to occupy Ukraine. Well. Meantime, in Ukraine, Karen President 375 00:20:38,560 --> 00:20:42,120 Speaker 1: Voladimir z Olinsky has imposed martial law and cut off 376 00:20:42,200 --> 00:20:46,000 Speaker 1: diplomatic ties with Russia. The president had this message for 377 00:20:46,080 --> 00:20:51,119 Speaker 1: his citizens. We don't need a cold or hot or 378 00:20:51,200 --> 00:20:54,359 Speaker 1: hybrid war, but if we are attacked by troops, if 379 00:20:54,359 --> 00:20:57,040 Speaker 1: they try to take away our country, our freedom of life, 380 00:20:57,320 --> 00:21:01,280 Speaker 1: the lives of our children, we will defend ourselves. Ukrainian 381 00:21:01,320 --> 00:21:05,960 Speaker 1: President Voladimir Zelinski is calling for immediate escalated sanctions on Russia, 382 00:21:06,040 --> 00:21:09,720 Speaker 1: and he is also seeking defense and financial support for Ukraine. 383 00:21:10,280 --> 00:21:14,320 Speaker 1: Western powers are condemning the military incursion and vowing to 384 00:21:14,480 --> 00:21:18,000 Speaker 1: step up penalties on Russia. Nathan President Biden said the 385 00:21:18,080 --> 00:21:22,040 Speaker 1: US and its allies will impose quote severe sanctions. The 386 00:21:22,040 --> 00:21:25,520 Speaker 1: President will address the American people later today WI while 387 00:21:25,560 --> 00:21:27,880 Speaker 1: we await those remarks here in The attack is up 388 00:21:28,000 --> 00:21:32,000 Speaker 1: ending global markets this morning, DAL futures are down seven 389 00:21:32,160 --> 00:21:35,400 Speaker 1: hundred points. In European averages are lower by more than 390 00:21:35,760 --> 00:21:39,959 Speaker 1: four percent. Russian shaires slumped by the most on record, 391 00:21:40,680 --> 00:21:43,240 Speaker 1: and we're seeing major moves in the energy markets as well. 392 00:21:43,359 --> 00:21:47,000 Speaker 1: Nathan Oil has surged above one hundred dollars a barrel 393 00:21:47,080 --> 00:21:51,480 Speaker 1: for the first time since Neil Beveridge is a senior 394 00:21:51,560 --> 00:21:57,720 Speaker 1: analyst at Sanford Bernstein Act Crisis hundred hundred trench doles. 395 00:21:57,800 --> 00:22:03,000 Speaker 1: The battle markets are very well supported by the low 396 00:22:03,080 --> 00:22:06,080 Speaker 1: infantries that we have cut it into. This crisis already 397 00:22:06,080 --> 00:22:09,359 Speaker 1: be seen a physical deficit in the market, and we 398 00:22:09,480 --> 00:22:12,680 Speaker 1: check prices now at nine ex screwde oil up eight 399 00:22:12,720 --> 00:22:15,800 Speaker 1: point eight percent, up eight dollars eleven cents at one 400 00:22:15,880 --> 00:22:20,080 Speaker 1: hundred dollars thirteen cents of barrel. Brent also jumping up 401 00:22:20,119 --> 00:22:23,320 Speaker 1: eight point nine percent or eight dollars sixty three cents 402 00:22:23,520 --> 00:22:26,200 Speaker 1: at one hundred five dollars forty eight cents of barrel. 403 00:22:26,359 --> 00:22:29,240 Speaker 1: Now we are seeing a rush to haven assets. This morning. 404 00:22:29,320 --> 00:22:33,440 Speaker 1: Karen Us tenure yields dropped as much as thirteen basis points. 405 00:22:33,560 --> 00:22:36,200 Speaker 1: Right now, the tenure yield is at one point eight 406 00:22:36,240 --> 00:22:39,120 Speaker 1: five percent, and gold has hit more than one year 407 00:22:39,200 --> 00:22:42,800 Speaker 1: high right now at nineteen seventy one forty announced. That 408 00:22:42,880 --> 00:22:45,960 Speaker 1: is a gain on the session of three point two percent, 409 00:22:46,600 --> 00:22:50,000 Speaker 1: and futures are falling. As we said, Nathan SMP Future 410 00:22:50,040 --> 00:22:52,840 Speaker 1: is down eighty six points. That's down more than two percent. 411 00:22:52,920 --> 00:22:55,400 Speaker 1: Down Future is also down more than two percent, down 412 00:22:55,640 --> 00:22:59,160 Speaker 1: six hundred ninety five points. Nowsaday Future is down three 413 00:22:59,240 --> 00:23:02,600 Speaker 1: hundred fifty five points or two point six percent. That 414 00:23:02,800 --> 00:23:05,680 Speaker 1: docks in Germany is down four and a half percent, 415 00:23:05,760 --> 00:23:09,040 Speaker 1: the cat in Paris down four point three percent, and 416 00:23:09,119 --> 00:23:12,800 Speaker 1: the foot See one hundred is down two point eight percent. Again. 417 00:23:12,840 --> 00:23:15,640 Speaker 1: The ten year treasury of one in six thirty seconds 418 00:23:15,640 --> 00:23:18,320 Speaker 1: the yield one point eight five percent, and they yield 419 00:23:18,320 --> 00:23:21,119 Speaker 1: on a two year one point for eight percent. The 420 00:23:21,240 --> 00:23:24,240 Speaker 1: euro one point one one seven six against the dollar 421 00:23:24,280 --> 00:23:26,760 Speaker 1: British found one point three four two four and the 422 00:23:26,880 --> 00:23:30,560 Speaker 1: yen one fourteen point six eight. Straight ahead, your latest 423 00:23:30,600 --> 00:23:34,800 Speaker 1: local headlines plus a check of sports, and this is Bloomberg, 424 00:23:38,359 --> 00:23:40,640 Speaker 1: all right, Karen, thank It's five thirty three on Wall Street. 425 00:23:40,640 --> 00:23:43,800 Speaker 1: Were thirty one degrees in Central Park awaiting the return 426 00:23:44,000 --> 00:23:47,560 Speaker 1: of wintry weather. Let's get more on that end of 427 00:23:47,640 --> 00:23:49,960 Speaker 1: what else is happening in New York City with Bloomberg 428 00:23:50,000 --> 00:23:52,520 Speaker 1: s Michael Bark Morning, Michael, good morning, Nathan. It is 429 00:23:52,640 --> 00:23:56,080 Speaker 1: weather whip lash from mid sixties in New York City 430 00:23:56,200 --> 00:23:59,640 Speaker 1: yesterday to a winder storm. Tonight, Bloomberg metu relogious, Rob 431 00:23:59,680 --> 00:24:02,280 Speaker 1: Carol and has the latest. Michael. The Tri State area 432 00:24:02,280 --> 00:24:05,000 Speaker 1: has a messy mix of precipitation headed our way. We'll 433 00:24:05,000 --> 00:24:06,800 Speaker 1: look for a few late day snow showers, but it 434 00:24:06,800 --> 00:24:09,480 Speaker 1: looks like snow develops during the evening along the coast. 435 00:24:09,560 --> 00:24:11,280 Speaker 1: It's going to change over to sleep, then go over 436 00:24:11,320 --> 00:24:14,000 Speaker 1: to freezing rain. That should limit the accumulations in the 437 00:24:14,000 --> 00:24:16,520 Speaker 1: city to about one to three inches. It's the areas 438 00:24:16,560 --> 00:24:18,520 Speaker 1: to the northwest and the north of the city that 439 00:24:18,560 --> 00:24:20,520 Speaker 1: could see three to six inches of snow before that 440 00:24:20,600 --> 00:24:22,840 Speaker 1: change over to sleep, then some freezing rain and rain. 441 00:24:23,119 --> 00:24:26,040 Speaker 1: It all should wind down very early tomorrow morning, improving 442 00:24:26,080 --> 00:24:29,080 Speaker 1: conditions tomorrow afternoon, Michael, Rob, thank you, sir. It's a 443 00:24:29,080 --> 00:24:32,440 Speaker 1: major twist in the probe against former President Trump's real 444 00:24:32,560 --> 00:24:37,000 Speaker 1: estate company. To prosecutors investigating Trump, I resigned from the 445 00:24:37,000 --> 00:24:41,159 Speaker 1: Manhattan District Attorney's office. Legal analyst Lorie Levinson says the 446 00:24:41,200 --> 00:24:43,760 Speaker 1: future of the probe under d. A. Alvin Bragg is 447 00:24:43,840 --> 00:24:47,280 Speaker 1: now in doubt. It may be that Bragg doesn't think 448 00:24:47,400 --> 00:24:49,880 Speaker 1: this is how he wants his office to be known 449 00:24:50,440 --> 00:24:53,160 Speaker 1: that this is too much of a fight, that there's 450 00:24:53,200 --> 00:24:55,439 Speaker 1: not enough to get out of it, or frankly, that 451 00:24:55,520 --> 00:24:59,359 Speaker 1: there isn't the evidence. Leola Law professor Lorie Levinson both 452 00:24:59,440 --> 00:25:02,920 Speaker 1: Carried and Mark Palmerant started on the criminal probe under 453 00:25:02,960 --> 00:25:05,840 Speaker 1: former d A. Cyrus Vans and were asked to stay 454 00:25:05,920 --> 00:25:09,440 Speaker 1: when Brad took office in January. Meanwhile, a separate Trump 455 00:25:09,480 --> 00:25:13,520 Speaker 1: investigation by New York State Attorney General Letitia James continues 456 00:25:13,880 --> 00:25:16,679 Speaker 1: Canada is lifting the emergency powers and enacted more than 457 00:25:16,720 --> 00:25:20,320 Speaker 1: a week ago to get street protests under control. Prime 458 00:25:20,320 --> 00:25:25,400 Speaker 1: Minister Justin Trudeau we are confident that existing laws and 459 00:25:25,480 --> 00:25:30,200 Speaker 1: by laws are now sufficient to keep people safe. Prime 460 00:25:30,200 --> 00:25:33,960 Speaker 1: Minister to Joe's government, and voked the Emergencies Act after 461 00:25:34,080 --> 00:25:37,719 Speaker 1: hundreds of semis and other heavy vehicles blockaded downtown Ottawa 462 00:25:37,800 --> 00:25:40,520 Speaker 1: for three weeks. A new Associated Press and o RC 463 00:25:40,680 --> 00:25:43,919 Speaker 1: poll finds that white Americans are far less likely to 464 00:25:43,960 --> 00:25:47,080 Speaker 1: be hindhly enthusiastic about the idea of a black woman 465 00:25:47,240 --> 00:25:51,040 Speaker 1: justice to the Supreme Court than black Americans. Global News 466 00:25:51,080 --> 00:25:53,960 Speaker 1: twenty four hours a day on air and on Bloomberg 467 00:25:54,000 --> 00:25:57,080 Speaker 1: quick Take, powered by more than twenty seven under journalists 468 00:25:57,119 --> 00:25:59,480 Speaker 1: and analysts more than a hundred twenty countries. Michael Barr, 469 00:25:59,560 --> 00:26:06,960 Speaker 1: this is bloom Bird Nathan all Right. Michael, thanks on 470 00:26:06,960 --> 00:26:09,160 Speaker 1: Wall Street time for the Bloomberg Sports update. Here again 471 00:26:09,240 --> 00:26:11,240 Speaker 1: is John Stanshown all right for the tale of two 472 00:26:11,320 --> 00:26:14,679 Speaker 1: New York City point guards. Kemba Walker out Tybree Irvine 473 00:26:14,760 --> 00:26:17,159 Speaker 1: for a half back in full time. Nick's announced the 474 00:26:17,240 --> 00:26:19,679 Speaker 1: Walker and what was apparently his decision, but one the 475 00:26:19,720 --> 00:26:22,240 Speaker 1: Knicks had no problem with, will not play the rest 476 00:26:22,280 --> 00:26:23,800 Speaker 1: of the season. He was brought in as a fourth 477 00:26:23,800 --> 00:26:25,800 Speaker 1: time All Star back in his hometown, but it was 478 00:26:25,840 --> 00:26:27,840 Speaker 1: clear he was not the same player, and Tom Thibodeau 479 00:26:27,920 --> 00:26:30,159 Speaker 1: sat him on the bench for every game in a 480 00:26:30,240 --> 00:26:33,320 Speaker 1: three week span. Walker did returned, but he's only had 481 00:26:33,400 --> 00:26:35,720 Speaker 1: one game in his last swelve where he scored double 482 00:26:35,760 --> 00:26:38,080 Speaker 1: figures and Derrick Rose is now returning from injuries. Of 483 00:26:38,160 --> 00:26:41,480 Speaker 1: Kemba's playing time was going to decrease Nicks losers of 484 00:26:41,560 --> 00:26:44,879 Speaker 1: thirteen to last sixteen way tomorrow in Miami, Nets Tonight 485 00:26:44,960 --> 00:26:47,240 Speaker 1: host the Celtics. No Kyrie Irving, that's a home game. 486 00:26:47,280 --> 00:26:50,280 Speaker 1: He's unvaccinated. But we're now that the city may phase 487 00:26:50,320 --> 00:26:52,720 Speaker 1: out the mandate Nets coach Steve Nash would love to 488 00:26:52,760 --> 00:26:58,119 Speaker 1: have Kyrie road and home practice floor. Um, he's been 489 00:26:58,119 --> 00:27:03,080 Speaker 1: great in film sessions. He's in creating dialogue over aspects 490 00:27:03,119 --> 00:27:07,520 Speaker 1: of our play. Um. So I since, uh, you a 491 00:27:07,640 --> 00:27:11,560 Speaker 1: real focus and an urgency from him. And so if 492 00:27:11,560 --> 00:27:13,320 Speaker 1: that's an indication, you know, I would say he is 493 00:27:13,320 --> 00:27:16,360 Speaker 1: getting excited at the prospect you know, on to play 494 00:27:16,359 --> 00:27:19,080 Speaker 1: at Olga in Dallage. Jukes St. John's Louislee lost at 495 00:27:19,080 --> 00:27:21,800 Speaker 1: home to create one seventy eight at least the Red 496 00:27:21,800 --> 00:27:24,159 Speaker 1: Storm in fifteen and twelve, seven and nine in the 497 00:27:24,160 --> 00:27:27,200 Speaker 1: Big East were seating All beat Butler sixty s sixty, 498 00:27:27,240 --> 00:27:29,800 Speaker 1: Rutgers lost at Michigan, Fordham beat lest Salle to get 499 00:27:29,800 --> 00:27:32,680 Speaker 1: to five hundred, Duke avenged and earlier loss to Virginia. 500 00:27:33,040 --> 00:27:35,000 Speaker 1: We now have a date and it is Monday of 501 00:27:35,119 --> 00:27:38,400 Speaker 1: no lockout ending labor deal. Then the baseball season will 502 00:27:38,400 --> 00:27:42,040 Speaker 1: not be one hundred and sixty two down Stashar Bloomberg 503 00:27:42,080 --> 00:27:44,680 Speaker 1: sports naked Okay, John, thank you. It is five thirty 504 00:27:44,760 --> 00:27:47,479 Speaker 1: seven on Wall Street time for the Tri State Business 505 00:27:47,520 --> 00:27:51,080 Speaker 1: Report with Bloomberg's head Cory. New York Mayor Eric Adams 506 00:27:51,119 --> 00:27:53,440 Speaker 1: wants the city to move towards phase hang out its 507 00:27:53,480 --> 00:27:57,280 Speaker 1: proof of vaccination requirement for patrons of restaurants, bars, and 508 00:27:57,320 --> 00:28:01,119 Speaker 1: other indoor spaces. The city began the vaccine policy, also 509 00:28:01,200 --> 00:28:05,399 Speaker 1: known as Key to NYC. Last fall. A union organizer 510 00:28:05,440 --> 00:28:08,440 Speaker 1: and a couple of workers were arrested Wednesday outside of 511 00:28:08,480 --> 00:28:11,800 Speaker 1: an Amazon warehouse in New York, another sign of tension 512 00:28:11,880 --> 00:28:15,679 Speaker 1: between the company and labor groups. Christians Small's president of 513 00:28:15,720 --> 00:28:20,200 Speaker 1: the Amazon labor union, was charged with trespassing, resisting arrest, 514 00:28:20,320 --> 00:28:25,840 Speaker 1: and obstructing governmental administration. Amtrak's CEO tells Bloomberg the Gateway 515 00:28:25,960 --> 00:28:28,840 Speaker 1: rail tunnel between New York and New Jersey is ready 516 00:28:28,880 --> 00:28:32,639 Speaker 1: for federal funding now that the environmental reviews have been completed. 517 00:28:32,920 --> 00:28:35,359 Speaker 1: The project will be funded from money that's separate from 518 00:28:35,400 --> 00:28:38,280 Speaker 1: the sixties six billion dollars that was included in the 519 00:28:38,320 --> 00:28:42,360 Speaker 1: five hundred fifty billion dollar infrastructure measure passed by Congress. 520 00:28:42,560 --> 00:28:45,920 Speaker 1: That your Bloomberg Dry State Business Report. I'm ed Corey. 521 00:28:46,120 --> 00:28:48,320 Speaker 1: Thank you at its five eight on Wall Street. Bloomberg 522 00:28:48,440 --> 00:28:50,720 Speaker 1: Radio is on the air from San Francisco to New York, 523 00:28:50,760 --> 00:28:53,240 Speaker 1: London to Hong Kong. Let's check in with our global 524 00:28:53,240 --> 00:28:55,040 Speaker 1: news team for some of the top stories heard on 525 00:28:55,080 --> 00:29:00,960 Speaker 1: our three hundred affiliate radio stations around the world. I'm 526 00:29:01,000 --> 00:29:04,400 Speaker 1: Steve Potaskan on K and Exit Los Angeles. We're talking 527 00:29:04,440 --> 00:29:08,280 Speaker 1: about how higher costs are hindering a solution to housing 528 00:29:08,320 --> 00:29:11,720 Speaker 1: the city's homeless. I'm DBS PELOGRENI I'm w h A 529 00:29:11,920 --> 00:29:15,720 Speaker 1: S in Louisville. Churchill Downs races ahead. I'm Gina Servettian 530 00:29:15,840 --> 00:29:18,480 Speaker 1: for w b b M in Chicago. I'm reporting that 531 00:29:18,600 --> 00:29:21,440 Speaker 1: Russia's attack on Ukraine is putting a vital source of 532 00:29:21,440 --> 00:29:25,840 Speaker 1: global grain supplies at risk, sending wheat and corn markets surgeon. 533 00:29:26,320 --> 00:29:29,200 Speaker 1: I'm callin head called Bloomberg. DAB Digital Medio in London 534 00:29:29,240 --> 00:29:33,040 Speaker 1: were reporting on preparations for fresh UK sanctions against Russia, 535 00:29:33,080 --> 00:29:36,280 Speaker 1: as Bois Johnson accuses Putin of choosing the path of 536 00:29:36,360 --> 00:29:40,160 Speaker 1: bloodshed and destruction. I'm in Tory on w w J 537 00:29:40,320 --> 00:29:43,560 Speaker 1: in Detroit. I'm reporting the fair Lane Town Center shopping 538 00:29:43,600 --> 00:29:46,400 Speaker 1: ball it's about to be sold. Those are some of 539 00:29:46,400 --> 00:29:49,320 Speaker 1: the stories our twenty dred Bloomberg journalist and analysts are 540 00:29:49,320 --> 00:29:51,760 Speaker 1: working on this morning around the world. It's five thirty 541 00:29:51,840 --> 00:29:55,040 Speaker 1: nine on Wall Street. The following is an editorial from 542 00:29:55,120 --> 00:30:00,640 Speaker 1: Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. 543 00:30:00,680 --> 00:30:04,160 Speaker 1: As the pandemic appears to recede across the US, the 544 00:30:04,200 --> 00:30:08,880 Speaker 1: country's economic outlook is difficult to assess, but this uncertainty 545 00:30:08,960 --> 00:30:13,680 Speaker 1: does not make prudent fiscal control any less necessary. The 546 00:30:13,720 --> 00:30:18,560 Speaker 1: immediate problem is an excess of demand relative to available supply. 547 00:30:19,120 --> 00:30:22,840 Speaker 1: This has caused inflation to surge, confronting the Federal Reserve 548 00:30:23,000 --> 00:30:27,080 Speaker 1: with a delicate challenge to tighten molitary policy without tipping 549 00:30:27,160 --> 00:30:31,680 Speaker 1: the economy into a recession. Lawmakers should realize that new 550 00:30:31,760 --> 00:30:36,520 Speaker 1: tax cuts or spending increases risk adding to the problem. 551 00:30:36,560 --> 00:30:39,640 Speaker 1: To be sure, a sudden, severe tightening of fiscal policy 552 00:30:39,880 --> 00:30:43,840 Speaker 1: would be unwise while recovery's prospects are still in doubt, 553 00:30:44,160 --> 00:30:47,720 Speaker 1: But that doesn't mean policymakers can throw caution to the wind. 554 00:30:48,080 --> 00:30:51,680 Speaker 1: Just the opposite. It has perhaps never been more important 555 00:30:51,760 --> 00:30:56,400 Speaker 1: to spend taxpayer dollars cautiously. This editorial was written by 556 00:30:56,440 --> 00:31:00,520 Speaker 1: the Bloomberg Editorial Board. For more Bloomberg opinion, please go 557 00:31:00,560 --> 00:31:04,080 Speaker 1: to Bloomberg dot com, slash opinion or ope I n 558 00:31:04,200 --> 00:31:08,360 Speaker 1: go on the Bloomberg terminal. This has been Bloomberg Opinion. 559 00:31:08,480 --> 00:31:11,600 Speaker 1: You can hear Bloomberg opinion editorials every weekday at this time. 560 00:31:11,720 --> 00:31:15,640 Speaker 1: Terminal customers can read more at Opie. I am go. 561 00:31:16,320 --> 00:31:24,120 Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather clouds, 562 00:31:24,120 --> 00:31:26,720 Speaker 1: snow showers possible late today, changing over to sleet and 563 00:31:26,840 --> 00:31:29,680 Speaker 1: rain tonight, hies in the upper thirties today and tomorrow 564 00:31:29,960 --> 00:31:32,320 Speaker 1: will be sunny in mid thirties by Saturday. Right now 565 00:31:32,360 --> 00:31:39,200 Speaker 1: thirty degrees in Central Park. Markets. Headlines and breaking news 566 00:31:39,320 --> 00:31:41,960 Speaker 1: twenty four hours a day at Bloomberg dot Com, the 567 00:31:42,000 --> 00:31:45,480 Speaker 1: Bloomberg Business app, and at Bloomberg Quick Take. He's a 568 00:31:45,560 --> 00:31:54,800 Speaker 1: Bloomberg Business lash and I'm Karin Moscow. Global stocks and 569 00:31:54,840 --> 00:31:58,400 Speaker 1: you watch stock index futures are tumbling this morning, bonds 570 00:31:58,520 --> 00:32:01,920 Speaker 1: and oil soaring a Russian President Vladimir Putin's decision to 571 00:32:02,000 --> 00:32:05,240 Speaker 1: order a military attack on Ukraine. Casts of Paul over 572 00:32:05,240 --> 00:32:09,080 Speaker 1: global markets. Brent crude reached one hundred five dollars a 573 00:32:09,120 --> 00:32:12,000 Speaker 1: barrel for the first time since twenty fourteen, while nimex 574 00:32:12,040 --> 00:32:15,200 Speaker 1: screwed briefly passed a hundred dollars. And We're gonna check 575 00:32:15,200 --> 00:32:18,120 Speaker 1: the markets every fifteen minutes throughout the trading day on Bloomberry. 576 00:32:18,120 --> 00:32:20,280 Speaker 1: Taking a look at oil right now with nimex screwed 577 00:32:20,320 --> 00:32:22,760 Speaker 1: oil up eight point two percent of seven dollars fifty 578 00:32:22,800 --> 00:32:25,080 Speaker 1: five cents now at ninety nine dollars sixty four cents 579 00:32:25,080 --> 00:32:27,760 Speaker 1: of barrel Brent is up eight point three percent. It's 580 00:32:27,800 --> 00:32:30,160 Speaker 1: at a hundred four dollars seventy one cents right now. 581 00:32:30,520 --> 00:32:33,240 Speaker 1: SMP future is again lower, down eighty two points down, 582 00:32:33,320 --> 00:32:36,840 Speaker 1: futures down six hundred seventy two, NASDACK futures down three 583 00:32:36,920 --> 00:32:39,880 Speaker 1: hundred thirty eight. That's down two and a half percent. 584 00:32:40,240 --> 00:32:43,280 Speaker 1: The dacks in Germany is down four point four per cent. 585 00:32:43,320 --> 00:32:45,520 Speaker 1: The ten year treasury up one in four thirty seconds, 586 00:32:45,720 --> 00:32:47,880 Speaker 1: the at one point eight six percent. They yield on 587 00:32:47,920 --> 00:32:51,080 Speaker 1: the two year one point four nine percent. Comex gold 588 00:32:51,120 --> 00:32:53,640 Speaker 1: up three point two percent of sixty dollars thirty cents 589 00:32:53,640 --> 00:32:57,240 Speaker 1: in nineteen seventy sixty and ounce. The Euro one point 590 00:32:57,360 --> 00:32:59,760 Speaker 1: one one seven nine against the dollar, British bound one 591 00:32:59,760 --> 00:33:02,239 Speaker 1: point three four to five and again has at one 592 00:33:02,320 --> 00:33:05,480 Speaker 1: fourteen point seven zero. Bitcoins moving lower, down more than 593 00:33:05,560 --> 00:33:09,320 Speaker 1: six percent at thirty five thousand one, and that's a 594 00:33:09,360 --> 00:33:11,960 Speaker 1: Bloomberg business flash now here's Michael Barrow with more on 595 00:33:12,080 --> 00:33:14,840 Speaker 1: what's going on around the world. Michael Karen, thank you 596 00:33:14,920 --> 00:33:17,800 Speaker 1: very much. It is the worst security crisis in Europe 597 00:33:17,840 --> 00:33:22,640 Speaker 1: since World War Two. Russian forces attack targets across Ukraine 598 00:33:22,720 --> 00:33:26,760 Speaker 1: after President Vladimir Putin vowed to deep militarized the country 599 00:33:26,840 --> 00:33:30,720 Speaker 1: and replace its leaders. The West threatened further punishing sanctions. 600 00:33:30,720 --> 00:33:34,640 Speaker 1: In response, Ukraine's Interior ministry said that the capital, Kiev 601 00:33:35,160 --> 00:33:37,800 Speaker 1: was under attack and urged citizens to go to shelters. 602 00:33:38,120 --> 00:33:41,240 Speaker 1: Major League Baseball has had only five days remained salvage 603 00:33:41,280 --> 00:33:44,480 Speaker 1: March thirty one openers in a full season, telling locked 604 00:33:44,480 --> 00:33:47,400 Speaker 1: out players that games would be canceled if a labor 605 00:33:47,440 --> 00:33:50,240 Speaker 1: contract has not agreed to by the end of Monday. 606 00:33:50,720 --> 00:33:53,320 Speaker 1: Global News twenty four hours a day on air and 607 00:33:53,520 --> 00:33:57,000 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred 608 00:33:57,040 --> 00:33:59,920 Speaker 1: journalists and analysts more than a hundred twenty countries. Um, 609 00:34:00,000 --> 00:34:02,320 Speaker 1: Michael bar this is Bloomberg. Nathan all right, Michael. Thanks, 610 00:34:02,320 --> 00:34:04,320 Speaker 1: It's five forty nine on Wall Street Life from the 611 00:34:04,320 --> 00:34:07,880 Speaker 1: Bloomberg Interactive Brokers studios. This is Bloomberg at daybreak. As 612 00:34:07,920 --> 00:34:11,239 Speaker 1: we continued to monitor the conflict, in Ukraine. We are 613 00:34:11,320 --> 00:34:14,960 Speaker 1: joined by Bloomberg News editor Tony Holpin in Moscow. Tony, 614 00:34:15,000 --> 00:34:16,960 Speaker 1: good morning, Thanks for being with us. Can you get 615 00:34:17,040 --> 00:34:20,160 Speaker 1: us up to speed on the events so far? Yes, 616 00:34:20,200 --> 00:34:23,560 Speaker 1: good morning. UM. Ukraine has said that its forces are 617 00:34:23,560 --> 00:34:27,720 Speaker 1: defending themselves and they're under attack inside the country then itself, 618 00:34:27,760 --> 00:34:31,040 Speaker 1: with battles taking place, including near the second largest city 619 00:34:31,040 --> 00:34:34,720 Speaker 1: of Haarkid, and the key has been on the assault 620 00:34:35,600 --> 00:34:38,640 Speaker 1: um casualties amounting and Russia has said that he intends 621 00:34:38,719 --> 00:34:42,279 Speaker 1: to continue this operation as you've had to demulitifize the 622 00:34:42,320 --> 00:34:46,959 Speaker 1: country and replace Ukraine's leadership. Right. We did hear from 623 00:34:47,160 --> 00:34:50,480 Speaker 1: President Vladimir Putin and the lead up to this attack, 624 00:34:50,600 --> 00:34:57,240 Speaker 1: When he says things like demilitarization and removing the leaders 625 00:34:57,360 --> 00:35:01,279 Speaker 1: of Ukraine, it sounds as though he is going much 626 00:35:01,360 --> 00:35:05,440 Speaker 1: further than just recognizing these breakaway republics in the east, 627 00:35:05,440 --> 00:35:10,279 Speaker 1: when when you have Ukraine being attacked from all sides. Now, Tony, yes, 628 00:35:10,320 --> 00:35:13,000 Speaker 1: it's gone well beyond that at this point. I mean Puttin, Yes, 629 00:35:13,160 --> 00:35:17,240 Speaker 1: they said that they were willing to send Russian troops 630 00:35:17,280 --> 00:35:21,480 Speaker 1: him to defend these breakaway reasons that he had already recognized. 631 00:35:21,920 --> 00:35:23,960 Speaker 1: But as you say that the fighting has gone well 632 00:35:24,000 --> 00:35:27,120 Speaker 1: beyond that now and the ambition of the Russian government 633 00:35:27,160 --> 00:35:30,239 Speaker 1: has gone well beyond that. Now. They're talking about the 634 00:35:30,280 --> 00:35:32,800 Speaker 1: fact of of what kind of government should be in Ukraine, 635 00:35:32,840 --> 00:35:35,120 Speaker 1: and they clearly don't accept the current authorities and want 636 00:35:35,160 --> 00:35:37,400 Speaker 1: to replace them, and they intend to do so, it 637 00:35:37,400 --> 00:35:41,520 Speaker 1: seems by force. And the President of Russias said that 638 00:35:41,640 --> 00:35:45,080 Speaker 1: his red lines were crossed, and that's his rationale for 639 00:35:45,200 --> 00:35:49,759 Speaker 1: this attack. What are these red lines that he's speaking of. Yes, 640 00:35:49,840 --> 00:35:52,680 Speaker 1: here he's blaming the US and NATO. He said all 641 00:35:52,680 --> 00:35:58,200 Speaker 1: along that NATO's expansion to the east and its engagement 642 00:35:58,239 --> 00:36:02,560 Speaker 1: with Ukraine poses a threat to Russia's own security, and 643 00:36:02,560 --> 00:36:06,000 Speaker 1: that the US and his allies have been ignoring his 644 00:36:06,080 --> 00:36:08,920 Speaker 1: demands to take account of Russia's concerns. In all of that. 645 00:36:09,400 --> 00:36:12,000 Speaker 1: Maker's response has always been that it's a defensive alliance 646 00:36:12,000 --> 00:36:14,840 Speaker 1: and it doesn't pose any threat to Russia. But cleaning 647 00:36:14,880 --> 00:36:18,120 Speaker 1: our Puttin has decided that he doesn't accept that anymore, 648 00:36:18,200 --> 00:36:20,760 Speaker 1: and what he wants to do is a certain Russia's 649 00:36:20,760 --> 00:36:24,360 Speaker 1: security interests, and he views that as an invasion of Ukraine. 650 00:36:25,440 --> 00:36:28,160 Speaker 1: And as you say that, Russian President Putin has said 651 00:36:28,200 --> 00:36:30,759 Speaker 1: he's willing to take this as as far as he's 652 00:36:30,800 --> 00:36:33,920 Speaker 1: willing to go here. But in terms of the economic impact, 653 00:36:33,920 --> 00:36:36,960 Speaker 1: the kind of sanctions that the US and NATOS say 654 00:36:37,000 --> 00:36:41,160 Speaker 1: they're willing to deploy against Russia, how much economic pain 655 00:36:41,600 --> 00:36:45,040 Speaker 1: is he willing to take as this conflict goes on. Well, 656 00:36:45,040 --> 00:36:48,240 Speaker 1: there's already been considerable pain. Russia's stock market has wiped 657 00:36:48,280 --> 00:36:50,720 Speaker 1: out something like two d fifty billion dollars of value 658 00:36:50,719 --> 00:36:53,480 Speaker 1: this morning, the rubles at a record low, and Russian 659 00:36:53,560 --> 00:36:56,919 Speaker 1: debt costs against default of sword to the highest since 660 00:36:56,920 --> 00:37:00,239 Speaker 1: two thousand nine, so the pain is considerable. Putin has 661 00:37:00,280 --> 00:37:03,320 Speaker 1: already called a meeting which will happen later on today 662 00:37:03,400 --> 00:37:06,160 Speaker 1: or Russian tycoons, and it's clear there that he will 663 00:37:06,160 --> 00:37:10,600 Speaker 1: seek to either reassure them or summon or demand their 664 00:37:10,640 --> 00:37:13,759 Speaker 1: support for his actions. Russia's central bank has also been 665 00:37:13,760 --> 00:37:17,400 Speaker 1: trying to support the currency, so the pain is considerable. Already, 666 00:37:17,560 --> 00:37:20,640 Speaker 1: US and European leaders have said that the further sanctions 667 00:37:20,640 --> 00:37:22,960 Speaker 1: are coming down the pipeline, so I think there's no 668 00:37:23,320 --> 00:37:26,760 Speaker 1: sign of risk by in the nearest future. Bloomberg's Tony 669 00:37:26,800 --> 00:37:29,960 Speaker 1: Halpen with us this morning from Moscow. Tony, thank you 670 00:37:30,000 --> 00:37:31,600 Speaker 1: for being with us this morning, and we want to 671 00:37:31,600 --> 00:37:35,800 Speaker 1: get more now on the market reaction as the flight 672 00:37:35,880 --> 00:37:39,279 Speaker 1: to safety continues. This morning, Matt Mainly joins US now 673 00:37:39,400 --> 00:37:43,240 Speaker 1: chief market strategists at Miller tay Back. Matt, we're seeing 674 00:37:43,480 --> 00:37:45,920 Speaker 1: oil above a hundred dollars of barrel at least on 675 00:37:46,040 --> 00:37:52,040 Speaker 1: the benchmark Brent crude, and futures plummeting this morning. Is 676 00:37:52,080 --> 00:37:56,640 Speaker 1: this a bear market? Well, it's you know, yes, it is. 677 00:37:56,800 --> 00:37:59,040 Speaker 1: I mean, I know it's something that I've been looking 678 00:37:59,080 --> 00:38:01,759 Speaker 1: for really and said before for the first of this year, 679 00:38:01,840 --> 00:38:03,359 Speaker 1: but it had more to do with the course, what 680 00:38:03,440 --> 00:38:06,120 Speaker 1: was going on with the federal reserve, uh than than this. 681 00:38:06,239 --> 00:38:09,200 Speaker 1: This is a more uh, this is a newer situation. 682 00:38:09,239 --> 00:38:10,920 Speaker 1: But I do think it's It's kind of funny when 683 00:38:10,920 --> 00:38:13,160 Speaker 1: when things like this happened, you get people at Wall 684 00:38:13,160 --> 00:38:15,839 Speaker 1: Street who say, you know, don't panic, don't panic, and 685 00:38:16,080 --> 00:38:18,640 Speaker 1: but those the people who tend to be kind of permeables. Well, 686 00:38:18,680 --> 00:38:20,839 Speaker 1: I'm certainly not a permable because I've been calling for 687 00:38:20,880 --> 00:38:23,560 Speaker 1: at least a deep correction, and yet I am also 688 00:38:23,680 --> 00:38:27,240 Speaker 1: saying don't panic. A lot of this, some of this anyway, 689 00:38:27,280 --> 00:38:29,560 Speaker 1: has already been priced in. Uh, you know, a lot 690 00:38:29,600 --> 00:38:31,560 Speaker 1: of the client in January, of course, was because of 691 00:38:31,600 --> 00:38:33,200 Speaker 1: the concerns of what was going on with the FED. 692 00:38:33,800 --> 00:38:36,120 Speaker 1: But this has been priced him more recently, especially the 693 00:38:36,440 --> 00:38:39,680 Speaker 1: rise in the oil and the market is oversold. Sentiment 694 00:38:39,719 --> 00:38:42,640 Speaker 1: is very negative. People need to need to be very 695 00:38:42,719 --> 00:38:45,520 Speaker 1: especially shorter term triggers, need to be very careful about 696 00:38:45,560 --> 00:38:48,120 Speaker 1: making negative bets here. Uh. You know, the old saying 697 00:38:48,160 --> 00:38:50,080 Speaker 1: goes is that you know, when the war drums are 698 00:38:50,080 --> 00:38:52,120 Speaker 1: beating the stuff, you know, the market goes down, and 699 00:38:52,120 --> 00:38:54,440 Speaker 1: when the shooting actually starts, that's when the mark that's 700 00:38:54,440 --> 00:38:57,520 Speaker 1: when people should buy. And uh so be interesting to 701 00:38:57,560 --> 00:39:00,000 Speaker 1: see if we'll see that the same kind of thing. Uh. 702 00:39:00,120 --> 00:39:04,160 Speaker 1: Of course, the higher oil prices are gonna uh create 703 00:39:04,200 --> 00:39:07,160 Speaker 1: some more problems, even more problems about inflation. So we 704 00:39:07,160 --> 00:39:09,680 Speaker 1: need you know, I think intermediate term. But the people 705 00:39:09,719 --> 00:39:11,839 Speaker 1: who panic here, I think they're gonna be uh, are 706 00:39:12,160 --> 00:39:15,560 Speaker 1: gonna feel are gonna get burned. I guess it's my point. Okay. 707 00:39:15,760 --> 00:39:19,919 Speaker 1: So in that context of staying calm, how do you 708 00:39:20,000 --> 00:39:24,400 Speaker 1: advise investors to stay calm? Where do you put your 709 00:39:24,400 --> 00:39:27,279 Speaker 1: money right now? Well, I mean, you know, one of 710 00:39:27,320 --> 00:39:29,279 Speaker 1: the things that I've been saying for a while. Of 711 00:39:29,280 --> 00:39:31,400 Speaker 1: course it's been raised a little bit of cash. But 712 00:39:31,520 --> 00:39:34,640 Speaker 1: also I'll play that you stay in that defensive mode 713 00:39:35,400 --> 00:39:37,520 Speaker 1: where you're looking at in areas and in the consumer 714 00:39:37,600 --> 00:39:41,160 Speaker 1: staples and such, but also you look at those stocks 715 00:39:41,200 --> 00:39:44,160 Speaker 1: that that pay good not just paid good dividends, because 716 00:39:44,239 --> 00:39:47,880 Speaker 1: some that pay really good dividends are are sometimes little questionable. 717 00:39:48,000 --> 00:39:50,680 Speaker 1: But the ones that paid good, solid dividends and pay 718 00:39:51,480 --> 00:39:54,920 Speaker 1: have have a record of increasing those different those dividends 719 00:39:55,000 --> 00:39:57,280 Speaker 1: every single year for many years. And there's a good 720 00:39:57,400 --> 00:40:00,480 Speaker 1: uh group of names that comes not just one or 721 00:40:00,520 --> 00:40:02,680 Speaker 1: two of those, I mean there's a several dozen and 722 00:40:03,120 --> 00:40:04,520 Speaker 1: those are the ones. And the reason why that, of 723 00:40:04,560 --> 00:40:09,160 Speaker 1: course is that if the market goes lower over time, uh, 724 00:40:09,200 --> 00:40:12,040 Speaker 1: you you get paid to wait. And that's really what 725 00:40:12,080 --> 00:40:13,880 Speaker 1: you want to do. I mean, it's the whole idea 726 00:40:13,960 --> 00:40:18,000 Speaker 1: here is to not just a weather the storm, but 727 00:40:18,120 --> 00:40:20,480 Speaker 1: the profit from it. And I fear those areas that 728 00:40:20,520 --> 00:40:22,839 Speaker 1: are doing better that's gonna help out. And I guess 729 00:40:22,880 --> 00:40:25,200 Speaker 1: the biggest thing is that do the things will give 730 00:40:25,239 --> 00:40:28,080 Speaker 1: you the confidence because at some point a bear market 731 00:40:28,120 --> 00:40:30,400 Speaker 1: comes to an end or even a deep correction, and 732 00:40:30,560 --> 00:40:32,640 Speaker 1: most people are losing their heads and they're and they're 733 00:40:32,680 --> 00:40:35,319 Speaker 1: selling their panicking. And if you've got some cash on 734 00:40:35,320 --> 00:40:37,600 Speaker 1: the sidelines, you've been defensive, you've and you've been done 735 00:40:37,600 --> 00:40:39,640 Speaker 1: more than just weather the storm. You're the one that's 736 00:40:39,640 --> 00:40:42,200 Speaker 1: going to have the confidence to buy. Well. We are 737 00:40:42,239 --> 00:40:45,080 Speaker 1: seeing that selling the price action certainly this morning. But 738 00:40:45,160 --> 00:40:49,160 Speaker 1: if we do see more inflationary pressures, Matt, if oil 739 00:40:49,239 --> 00:40:52,520 Speaker 1: does continue to grind higher, what does that mean for 740 00:40:52,680 --> 00:40:56,399 Speaker 1: the FED as it considers rate hikes this year? That's 741 00:40:56,400 --> 00:40:58,400 Speaker 1: the you know, but you know, talk about being put 742 00:40:58,560 --> 00:41:00,920 Speaker 1: between a rock and hard place. I mean they you 743 00:41:00,960 --> 00:41:02,520 Speaker 1: know that. The whole thing is that when you know 744 00:41:02,719 --> 00:41:05,279 Speaker 1: people talking about, well they'll pivot like they did at 745 00:41:05,320 --> 00:41:07,239 Speaker 1: the very end of two thousand eighteen and early two 746 00:41:07,280 --> 00:41:11,200 Speaker 1: thousand nineteen, but inflation was non existent. Uh back then 747 00:41:11,239 --> 00:41:14,920 Speaker 1: then they could afford to pivot. Uh Now can they? 748 00:41:14,920 --> 00:41:17,000 Speaker 1: I mean, could they do that? Even before this this 749 00:41:17,080 --> 00:41:19,479 Speaker 1: was gonna have? You know this, uh, this huge spike 750 00:41:19,680 --> 00:41:22,640 Speaker 1: in oil prices. I mean, if they're fighting inflation, uh, 751 00:41:22,719 --> 00:41:25,560 Speaker 1: no matter what the markets are doing, Uh, they you 752 00:41:25,560 --> 00:41:28,560 Speaker 1: would think they still have to keep tightening. Now. Having 753 00:41:28,640 --> 00:41:30,399 Speaker 1: said that, I do think they're gonna have they would 754 00:41:30,440 --> 00:41:34,120 Speaker 1: have to be a little less aggressive because obviously, uh, 755 00:41:35,040 --> 00:41:36,719 Speaker 1: no matter what they were gonna do, was gonna was 756 00:41:36,719 --> 00:41:39,120 Speaker 1: gonna cause I'm de started. No matter how aggressive they went, 757 00:41:39,160 --> 00:41:42,000 Speaker 1: they went it would cause a slow down and growth. Uh. 758 00:41:42,040 --> 00:41:44,960 Speaker 1: Now with this going on, with you know, inflation spike 759 00:41:45,040 --> 00:41:47,680 Speaker 1: will spike even more of a tiger. Oil prices um 760 00:41:48,160 --> 00:41:50,040 Speaker 1: and and the slowing of the economy that we'll go 761 00:41:50,080 --> 00:41:52,360 Speaker 1: with that. Uh, they've got to be more careful. So 762 00:41:52,360 --> 00:41:54,960 Speaker 1: I think they'll have to be more gradual. Alright, Matt 763 00:41:55,040 --> 00:41:57,440 Speaker 1: Maylee as always good to get your thoughts. Thanks for 764 00:41:57,480 --> 00:42:00,680 Speaker 1: being with us this morning. Matt Maylely is chief market 765 00:42:00,760 --> 00:42:04,960 Speaker 1: Strategists at Miller tay Back. And the markets are certainly 766 00:42:04,960 --> 00:42:07,960 Speaker 1: seeing a lot of action this morning, Karen, Indeed, Nathan 767 00:42:08,080 --> 00:42:11,040 Speaker 1: SMP Future is down ninety points this morning. Down Future 768 00:42:11,080 --> 00:42:14,439 Speaker 1: is down seven hundred twenty eight to NASTAC Futures down 769 00:42:14,480 --> 00:42:17,680 Speaker 1: three hundred sixty six or two point seven percent. The 770 00:42:17,719 --> 00:42:20,279 Speaker 1: tenure Treasury up one in seven thirty seconds, the yield 771 00:42:20,360 --> 00:42:22,839 Speaker 1: one point five percent. They yield on the two year 772 00:42:22,920 --> 00:42:26,880 Speaker 1: one point four eight percent. Oil jumping with NIMEX screwed. 773 00:42:26,880 --> 00:42:29,960 Speaker 1: Oil up eight point two percent, up seven dollars fifty 774 00:42:30,000 --> 00:42:33,880 Speaker 1: seven cents at nine sixties six cents of barrel, and 775 00:42:34,000 --> 00:42:36,600 Speaker 1: Brent up more than eight percent as well at one 776 00:42:36,680 --> 00:42:40,320 Speaker 1: hundred four dollars ninety four cents and still ahead. On 777 00:42:40,360 --> 00:42:43,279 Speaker 1: Bloombergy day break, we have a check on the business headlines, 778 00:42:43,320 --> 00:42:45,680 Speaker 1: all the news you need to start your day as well, 779 00:42:45,760 --> 00:42:47,160 Speaker 1: and this is Bloomberg