WEBVTT - Bloomberg Daybreak: December 22, 2022 - Hour 1 (Radio) 0:00:01.720 --> 0:00:04.880 Live from the Bloomberg Interactive Broker Studios. This is Bloomberg 0:00:04.960 --> 0:00:08.399 day Break for Thursday, December twenty second two. Coming up 0:00:08.400 --> 0:00:12.160 the shower, Mukraine's president leads for more support in person 0:00:12.280 --> 0:00:15.360 to Congress. F t X executives flee guilty as their 0:00:15.360 --> 0:00:18.680 former CEO returns to the US. The largest U S 0:00:18.720 --> 0:00:21.360 ship maker warns more layoffs are on the way and 0:00:21.440 --> 0:00:24.640 investors hold out hope for a brief Santa Claus Rally. 0:00:24.760 --> 0:00:27.280 New York Mayor Adams gives himself a B plus as 0:00:27.280 --> 0:00:30.120 he defends his record on crime plus. The man Charred 0:00:30.120 --> 0:00:33.000 Wood shooting up a Brooklyn subway car will now lead 0:00:33.040 --> 0:00:36.000 guilty on Michael barn Or Ahead, I'm John dash Our. 0:00:36.040 --> 0:00:38.320 In sports, the Knicks Winspy came to an end, easy 0:00:38.360 --> 0:00:40.720 win for the Nets. The Devil's One in the Jets 0:00:40.720 --> 0:00:46.720 host Jacksonville Tonight. That's Alls Training Ahead on Bloomberg day 0:00:46.720 --> 0:00:51.640 Break on Bloomberg eleven three on New York, Bloomberg one, Washington, 0:00:51.760 --> 0:00:55.880 d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, 0:00:55.920 --> 0:00:59.640 San Francisco, Syrius x M one nine Team and around 0:00:59.680 --> 0:01:02.560 the World Old on Bloomberg Radio Dot Carmen via the 0:01:02.560 --> 0:01:09.520 Bloomberg Business app. Good morning, I'm Nathan Hagard and I'm 0:01:09.600 --> 0:01:12.760 Karen Moscow and US Dock index futures are little change 0:01:12.840 --> 0:01:15.160 this morning, and we checked the markets all day long 0:01:15.240 --> 0:01:18.240 year on Bloomberg SNP futures again little change. So were 0:01:18.240 --> 0:01:21.720 in NAZDAC and Dow futures tenure Treasury up stix thirty seconds. 0:01:21.760 --> 0:01:23.760 He on three point six three percent of the yield 0:01:23.760 --> 0:01:26.880 on the two year four point one nine Nathan, Karen. 0:01:26.880 --> 0:01:28.960 We'll get more on markets in a moment, but begin 0:01:29.120 --> 0:01:32.360 We begin this morning with a historic night in Washington. 0:01:32.680 --> 0:01:36.440 The President of Ukraine, Voladimir Zelenski, made an emotional address 0:01:36.520 --> 0:01:39.360 in person to a joint meeting of Congress. We get 0:01:39.400 --> 0:01:43.680 the story from Bloomberg's at Baxter standing ovation after standing 0:01:43.680 --> 0:01:47.680 ovation from both sides of the aisle. The message Ukraine 0:01:47.760 --> 0:01:51.680 is alive and kicking and thanking US families for their support. 0:01:51.920 --> 0:01:54.000 And now what people will have to go to boom 0:01:54.160 --> 0:01:58.560 shelters on Christmas Eve, Ukrainias will still sit down at 0:01:58.600 --> 0:02:02.400 the quality table and cheer up each other. Zelenski says 0:02:02.400 --> 0:02:05.120 a free world will show all potential aggressors that the 0:02:05.160 --> 0:02:08.400 world will stand up to tyranny. He says next year 0:02:08.440 --> 0:02:11.079 will be a turning point of the war. He presented 0:02:11.120 --> 0:02:14.720 Congress with a flag from the war's front in San Francisco. 0:02:14.760 --> 0:02:17.280 I'm at bachetor Bloomberg daybreak, all right, ed, thank you know. 0:02:17.320 --> 0:02:20.800 This was President Zelenski's first trip outside his country since 0:02:20.880 --> 0:02:25.160 Russia's invasion back in February. Before the speech, the president 0:02:25.160 --> 0:02:27.840 paid a visit to the White House, where President Biden 0:02:27.919 --> 0:02:31.160 stood alongside Zelenski at a joint news conference to pledge 0:02:31.200 --> 0:02:33.880 his continued support. I want you to know that all 0:02:33.919 --> 0:02:36.760 the people who Ukraine to know as well the American 0:02:36.800 --> 0:02:39.160 people were with you every step of the way, and 0:02:39.200 --> 0:02:41.560 we will stay with you. We will stay with you 0:02:41.919 --> 0:02:44.400 for as long as it takes. And the Biden administration 0:02:44.440 --> 0:02:47.320 also announced nearly one point nine billion dollars in additional 0:02:47.320 --> 0:02:50.960 military aid to Ukraine, including a Patriot missile battery. Russian 0:02:51.040 --> 0:02:55.240 President Vladimir Putin meanwhile said Russia has no limitations on 0:02:55.280 --> 0:02:58.640 its own military spending to continue the war. Well, Nathan, 0:02:58.639 --> 0:03:01.200 We're following another story at d C this morning. A 0:03:01.200 --> 0:03:04.160 group of House Republicans has released a counter report to 0:03:04.240 --> 0:03:08.840 the House Select Committee's investigation into the January six Capital assault. 0:03:09.080 --> 0:03:12.640 The seventy eight page report partly blames Democratic leaders for 0:03:12.720 --> 0:03:16.679 security failures and says intelligence and law enforcement failures left 0:03:16.680 --> 0:03:20.520 the Capital complex vulnerable. The January six committee is expected 0:03:20.520 --> 0:03:23.079 to release it's full report today. All right, let's turn 0:03:23.120 --> 0:03:25.840 from the Capital to Crypto. Kareny hit the latest on 0:03:25.880 --> 0:03:29.960 the ft X collapse. Two top executives have pleaded guilty 0:03:30.000 --> 0:03:32.959 to criminal charges. As the former CEO of f t X, 0:03:33.040 --> 0:03:37.200 Sam Bankman Freed, returns to the US, Bloomberg Steve Rappaport 0:03:37.280 --> 0:03:39.800 joins US Live with that story. Good morning, Steve, Good morning, 0:03:39.880 --> 0:03:43.240 Nathan and Karen. Spf found himself with fewer friends upon 0:03:43.320 --> 0:03:45.960 arriving in New York last night, as Caroline Ellison and 0:03:45.960 --> 0:03:49.080 Gary Wang pled guilty to fraud. The plea agreements say 0:03:49.080 --> 0:03:53.320 prosecutors will recommend reduced sentences if they provide substantial assistance 0:03:53.360 --> 0:03:56.160 to the investigation. The move puts pressure on Bankman Freed 0:03:56.160 --> 0:03:58.520 ahead of his appearance in federal court today on charges 0:03:58.560 --> 0:04:02.040 of fraud, money laundering, another counts. His lawyers may seek bail. 0:04:02.320 --> 0:04:05.720 Live in New York, I'm Steve Rappaport, Bloomberg Daybreak, right, Steve, 0:04:05.760 --> 0:04:08.040 Thank you have it. Pivot away from COVID to zero 0:04:08.120 --> 0:04:11.320 continues in China. This morning, we're learning China plans to 0:04:11.360 --> 0:04:15.680 cut quarantine requirements for overseas travelers in January. Sources tell 0:04:15.760 --> 0:04:19.120 US officials are considering a zero plus three policy that 0:04:19.160 --> 0:04:21.799 would mean tourists would no longer be required to spend 0:04:21.839 --> 0:04:26.279 time in a quarantine hotel or isolation facility, and arrivals 0:04:26.279 --> 0:04:29.320 into the country instead or subject to three days of monitoring. 0:04:29.600 --> 0:04:31.760 All right, let's take a look at markets now. Karen 0:04:31.839 --> 0:04:35.160 futures are little changed this morning, but global stocks did 0:04:35.200 --> 0:04:38.120 advance for a third day yesterday as we edge closer 0:04:38.160 --> 0:04:41.680 to the Christmas holiday. US shares climbed on improved consumer 0:04:41.720 --> 0:04:44.880 confidence and better than expected earnings from FedEx and Nike. 0:04:45.279 --> 0:04:48.120 Earlier this week, markets snapped a four day slide sparked 0:04:48.160 --> 0:04:51.680 by hawkish central bank rhetoric. In Asia, Nathan stocks have 0:04:51.720 --> 0:04:53.760 snapped a losing streak of their own, coming off the 0:04:53.760 --> 0:04:56.480 Bank of japan surprise policy move earlier this week, and 0:04:56.520 --> 0:04:59.560 Bloomberg's Brian Curtis joins US from Hong Kong with more 0:05:00.080 --> 0:05:03.560 stocks rallied in Asia, snapping five days of declines The 0:05:03.600 --> 0:05:06.360 biggest moves were in Hong Kong, where the benchmark index 0:05:06.480 --> 0:05:09.279 rose about two and a half percent. Property companies led 0:05:09.279 --> 0:05:12.600 the way after regulators said they'd support the sector's growth. 0:05:12.800 --> 0:05:16.800 Shares also jumped in Japan, South Korea and Australia. Trasuries 0:05:16.920 --> 0:05:19.240 rose slightly in Asia as the fallout from the Bank 0:05:19.240 --> 0:05:23.240 of japan surprise policy shift began to ebb the en 0:05:23.680 --> 0:05:27.559 resumed its advance. Brian Curtis Bloomberg Day Break, All Right, Brian, 0:05:27.600 --> 0:05:31.120 thanks Meanwhile over in Europe, UK household southern living standards 0:05:31.160 --> 0:05:34.080 fall amid a contraction in the third quarter. Bloomberg's You 0:05:34.200 --> 0:05:36.400 and Potts joins us live from London with that good 0:05:36.400 --> 0:05:39.480 morning and good morning, Nathan and Karen. Household incomes in 0:05:39.520 --> 0:05:42.440 the UK have fallen for a fourth straight quarter, leaving 0:05:42.440 --> 0:05:45.160 Britain's on course for the worst period for living standards 0:05:45.240 --> 0:05:48.680 in memory. Real incomes behead were three point one percent 0:05:48.760 --> 0:05:51.880 lower in the third quarter from a year earlier. Final 0:05:51.960 --> 0:05:54.960 GDP day to meanwhile registered a no point three percent 0:05:55.080 --> 0:05:58.440 drop in the latest quarter, more than previously estimated. The 0:05:58.480 --> 0:06:01.360 reading is consistent with the quantum expectations that the UK 0:06:01.720 --> 0:06:05.720 is already in recession. In London, Immune Paul daybreak, all right, 0:06:05.760 --> 0:06:08.440 you and thank you, while taking a look at corporate news. Now, 0:06:08.480 --> 0:06:11.919 America's largest memory chip maker, Micron Technology, is out with 0:06:11.960 --> 0:06:14.920 a lackluster revenue outlook and a warning that it will 0:06:15.000 --> 0:06:17.839 have to trim its work force. S. Bloomberg's Dot Prisner 0:06:17.920 --> 0:06:21.080 joins us with that story. The company is already pledged 0:06:21.080 --> 0:06:24.360 to reduce output in slow expansion projects as a way 0:06:24.400 --> 0:06:28.040 of limiting the availability of memory chips. Even so, Micron's 0:06:28.080 --> 0:06:31.560 forecast indicates the glut may drag on given a slump 0:06:31.560 --> 0:06:35.440 in demand. Sales will be about eighty million dollars below forecast, 0:06:35.680 --> 0:06:38.479 and Micron is projecting a loss of about sixty two 0:06:38.480 --> 0:06:42.080 cents to share excluding certain items. That's more than twice 0:06:42.120 --> 0:06:46.120 what analysts were estimating. Given these challenges, Micron will reduce 0:06:46.120 --> 0:06:48.960 its workforce by about ten percent over the next year. 0:06:49.400 --> 0:06:52.159 In New York, I'm Doug Prisoner Bloomberg Daybreak, All right, Doug, 0:06:52.240 --> 0:06:54.880 thank you again. Futures this morning or little chain straight ahead, 0:06:54.880 --> 0:06:57.719 your latest local headlines plus a check of sports, and 0:06:57.960 --> 0:07:04.960 this is Bloomberg, Right, Karen, thank you. Thirty five degrees 0:07:05.080 --> 0:07:07.520 in Central Park. It's gonna turn rainy and windy this 0:07:07.600 --> 0:07:10.480 afternoon and into tomorrow. Highs today in the upper forties, 0:07:10.520 --> 0:07:13.080 and temperatures will rise through the night as a wind 0:07:13.120 --> 0:07:15.920 advisory kicks in. Attend this evening time me take a 0:07:15.920 --> 0:07:17.480 look at some of the other stories making news in 0:07:17.480 --> 0:07:19.840 New York and around the world with bloomberg S Michael 0:07:19.840 --> 0:07:22.840 bar Good morning, Michael, Good morning, Nathan. And as you mentioned, 0:07:22.920 --> 0:07:26.040 that's the problem. Millions of Americans taking to the roads 0:07:26.040 --> 0:07:29.400 and skies before Christmas could face big trouble getting to 0:07:29.440 --> 0:07:33.000 their destinations on time because of a massive winter storm. 0:07:33.160 --> 0:07:36.040 Several major hubs, including New York City, are all in 0:07:36.080 --> 0:07:39.920 the path of the storm and face significant disruptions. This 0:07:39.960 --> 0:07:42.840 man was headed to Orlando from New York, trying to 0:07:42.840 --> 0:07:45.200 get out ahead of the storm to see his family. 0:07:45.440 --> 0:07:50.760 We're gonna be ready for a long time. He should 0:07:50.760 --> 0:07:57.840 have been California before. We're gonna night again Christmas. It's 0:07:57.840 --> 0:08:01.320 not just flights being canceled. A rack has scraps service 0:08:01.400 --> 0:08:04.720 for dozens of routes. New York City Mayor Eric Adams 0:08:04.800 --> 0:08:08.200 defended his record on crime, giving himself a B plus. 0:08:08.640 --> 0:08:11.520 In his first year in office, there was a rise 0:08:11.560 --> 0:08:16.160 in major felonies through December, but Adams says through the 0:08:16.200 --> 0:08:19.680 top line numbers, they do not tell the whole story, 0:08:19.880 --> 0:08:23.200 as we highlighted double digit drops in the high profile 0:08:23.280 --> 0:08:26.600 murders and shootings. Public safety is the foundation of the city. 0:08:26.720 --> 0:08:28.960 I've used this term over and over again. It's the 0:08:29.080 --> 0:08:33.959 prerequisite to prosperity. Without it, we won't feel the safety 0:08:33.960 --> 0:08:37.040 we deserved. Mayor Adams went on to say that New 0:08:37.120 --> 0:08:39.880 Yorkers should feel better about the direction we are headed. 0:08:40.520 --> 0:08:42.880 A New York City court has scheduled a change of 0:08:43.000 --> 0:08:45.560 plea hearing for next month for the man accused of 0:08:45.600 --> 0:08:49.199 opening fire on a Manhattan bound subway train last April. 0:08:49.559 --> 0:08:52.160 In a letter to the court, his attorney said the 0:08:52.200 --> 0:08:56.320 alleged New York City subway shooter, Frank James, wants to 0:08:56.320 --> 0:09:00.240 plead guilty to federal terrorism charges. James was sharp with 0:09:00.280 --> 0:09:02.880 several counts of committing a terror attack on a mass 0:09:02.880 --> 0:09:06.520 transit system. Ten people were hurt in the shooting. Final 0:09:06.720 --> 0:09:10.680 CDC data confirms American life expectancy fell for a second 0:09:10.720 --> 0:09:14.920 straight year in twenty twenty one, the worst since it's 0:09:15.000 --> 0:09:19.480 driven by accelerating COVID and drug overdose DUTs for the men, 0:09:19.920 --> 0:09:23.000 it has dropped from seventy four point two years to 0:09:23.080 --> 0:09:26.480 seventy three point five years. For women, it's from seventy 0:09:26.559 --> 0:09:29.679 nine point nine to seventy nine point three. Global News 0:09:29.679 --> 0:09:32.880 twenty four hours a day on air and on Bloomberg Quicktake, 0:09:33.200 --> 0:09:36.160 powered by more than twenty seven hundred journalists and analysts 0:09:36.240 --> 0:09:39.480 more than a hundred twenty countries. Michael barn this is Bloomberg, Nathan. 0:09:39.600 --> 0:09:46.760 Thanks Michael. Time now for our Bloomberg Sports update, brought 0:09:46.760 --> 0:09:48.640 to you if I try stayed out em Morney John 0:09:48.720 --> 0:09:52.000 Stanshower in the morning, Nathan, one winning streak ended, another 0:09:52.120 --> 0:09:56.040 continued At the Garden, Nicks couldn't stop Toronto's Pascal Siakaman 0:09:56.160 --> 0:09:58.880 poured in fifty two points the Raptors, and in their 0:09:59.320 --> 0:10:02.000 six game losing streak one thirteen one on six, Julius 0:10:02.080 --> 0:10:04.559 Randall R. J. Barrett both had thirty points with the Knicks, 0:10:04.559 --> 0:10:07.360 who had won their previous eight. In Brooklyn, the Nets 0:10:07.400 --> 0:10:10.120 win streak up to seven one forty three to one 0:10:10.200 --> 0:10:14.720 thirteen over struggling Golden State. The Nets led one fifty 0:10:14.760 --> 0:10:17.559 one at halftime, ninety one first half points, third most 0:10:17.880 --> 0:10:20.520 in NBA history. The Devil's three goals third period to 0:10:20.559 --> 0:10:23.920 win four two at Florida. That ends there six games slide. St. 0:10:23.960 --> 0:10:27.080 John's lost at Villanova's seventy eight to sixty three. If 0:10:27.080 --> 0:10:29.040 the Jets have any hopes of making the playoffs, they 0:10:29.080 --> 0:10:31.840 have to win tonight in the rain at Met Life. 0:10:31.880 --> 0:10:35.280 Jacksonville comes in much improved, led by quarterback Trevor Lawrence. 0:10:35.280 --> 0:10:37.559 They're only a game out of first in the a 0:10:37.720 --> 0:10:40.240 s C South. The Jets are came out for making 0:10:40.280 --> 0:10:42.560 it as a wild card. Four members of the Jets 0:10:42.559 --> 0:10:45.439 defense named as Pro Bowlers. They still named the rosters 0:10:45.480 --> 0:10:49.160 even though they're no longer a Pro Bowl game. Quentin Williams, C. J. Mosley, 0:10:49.240 --> 0:10:52.120 Justin Hardy and Sauce Gardner is the first Jet rookie 0:10:52.120 --> 0:10:55.840 Pro Bowlers since eight. Tae Kwon Barkley and Dexter Lawrence 0:10:55.960 --> 0:10:59.040 named from the Giants. Philadelphia has eight Pro Bowlers. Dallas 0:10:59.080 --> 0:11:01.920 in Kansas City had seven. When you saw that Derek 0:11:02.000 --> 0:11:05.000 Jeter was in attendance that the Aaron Judge New Contract 0:11:05.080 --> 0:11:07.679 press conference, you knew there would be an announcement that 0:11:07.800 --> 0:11:10.360 Judge would be the first Yankee captain since Jeter. I'm 0:11:10.360 --> 0:11:12.280 gonna continue to try to be you know, the same 0:11:12.400 --> 0:11:15.280 leader that I've been in the past six years. Continue 0:11:15.280 --> 0:11:17.800 to lead by example, and I know there's probably gonna 0:11:17.800 --> 0:11:20.599 be a couple of more responsibilities with this, but you 0:11:20.640 --> 0:11:23.280 know I'm here to embrace every single obstacle and you know, 0:11:23.360 --> 0:11:25.240 continue to lead this team and lead the city to 0:11:26.400 --> 0:11:29.040 to not one of them, you know, multiple championships down 0:11:29.080 --> 0:11:33.800 the road. Six Captain and Yankee District. Bomberg All right, John, 0:11:33.840 --> 0:11:36.480 thank you. Boomberg Sports was brought to you by Audie. 0:11:36.520 --> 0:11:38.480 Don't let someone else drive off in the outie model. 0:11:38.559 --> 0:11:41.079 You've always wanted to visit your local price state autie 0:11:41.120 --> 0:11:43.480 dealer to get behind the wheel of yours today, or 0:11:43.640 --> 0:11:46.640 visit autie Offers dot com for more information. We get 0:11:46.679 --> 0:11:51.200 more reaction to President Zelenski's visit to Washington. Next first 0:11:51.520 --> 0:11:55.120 futures of taking a leg a little change now giving 0:11:55.200 --> 0:11:57.760 up the game's SMP futures right now are down by 0:11:58.280 --> 0:12:05.280 one point. Live from coast to coast, from New York 0:12:05.360 --> 0:12:09.199 to San Francisco, Boston to Washington, d C. Nationwide on 0:12:09.360 --> 0:12:12.719 Sirius Examp, the Bloomberg Business App, and Bloomberg dot Com. 0:12:13.160 --> 0:12:17.840 This is Bloomberg Daybreak. Good morning, I'm Nathan Hagar. Let's 0:12:17.880 --> 0:12:19.920 get back to our top story this morning. It was 0:12:20.000 --> 0:12:24.400 a dramatic night on Capitol Hill Ukrainian President Voladimir Zelinski 0:12:24.559 --> 0:12:27.679 urging lawmakers in the US to keep up their support 0:12:27.760 --> 0:12:31.079 for his country in person before a joint meeting of 0:12:31.160 --> 0:12:37.439 Congress against all and doom and gloom scenarious. Yukraine didn't fall. 0:12:38.280 --> 0:12:44.280 Yugrain is alive and keating. And we're joined now by 0:12:44.440 --> 0:12:48.079 Terry Haines, the founder of Pangaea Policy. Terry, quite a 0:12:48.160 --> 0:12:51.839 moment on Capitol Hill last night, your reaction to what 0:12:52.000 --> 0:12:56.040 we heard, what we saw from Ukrainian president's lane scheme, 0:12:57.559 --> 0:13:00.240 Good morning, Nathan, And it was quite a moment uh 0:13:01.679 --> 0:13:05.520 of you know, sort of mutual thanking, mutual support, mutual 0:13:05.640 --> 0:13:09.360 respect and regard. All those things are very good. Uh. 0:13:09.679 --> 0:13:13.040 You know, we get past that into uh the really 0:13:13.160 --> 0:13:16.040 cold light of morning. Uh, certainly on the US East 0:13:16.080 --> 0:13:20.880 coast of what you're gonna see is that also one 0:13:20.920 --> 0:13:23.840 of the things that the President Biden said to Zelenski 0:13:23.920 --> 0:13:26.679 into the American public is that then you know, there 0:13:26.720 --> 0:13:30.640 won't be any advanced weapons beyond the Patriot missile battery 0:13:30.720 --> 0:13:35.360 because to do so risks US alliances quote unquote. Uh, 0:13:35.520 --> 0:13:40.360 there's also continuing interest in what the administration thinks to 0:13:40.800 --> 0:13:44.480 be its endgame. Uh. You know, the Russia continues to 0:13:44.559 --> 0:13:49.439 talk about the potential for settlement those the potential isn't realistic, 0:13:50.280 --> 0:13:53.880 but you know, you have to wonder what Washington thinks 0:13:53.920 --> 0:13:57.480 its endgame is and whether it might be enticed by 0:13:58.720 --> 0:14:01.720 by the prospect of a set littlement were And of course, 0:14:01.760 --> 0:14:05.000 as everybody knows, since we're a long way from resolution 0:14:05.120 --> 0:14:08.200 on the battlefield, uh, you know, that might well look 0:14:08.600 --> 0:14:11.520 more tempting to the Western allies as time goes on. 0:14:12.160 --> 0:14:17.720 Uh So uh, entirely legitimate feel good movement moment here, 0:14:18.040 --> 0:14:21.280 uh and for all kinds of you know, important reasons. 0:14:21.560 --> 0:14:23.760 But at the same time, you know, at the end 0:14:23.800 --> 0:14:26.600 of the day, not really much has changed your going forward. 0:14:26.840 --> 0:14:29.440 So you don't think that the president's message is going 0:14:29.520 --> 0:14:33.640 to change many minds then, particularly among the Republicans, who 0:14:33.760 --> 0:14:36.560 have said that once they take control of Congress, if 0:14:36.640 --> 0:14:40.800 not to continue support for Ukraine at least to give 0:14:40.880 --> 0:14:46.280 it more of a skeptical eye or at least more scrutiny. Well, 0:14:46.360 --> 0:14:48.520 I think, you know, let me put it this way, 0:14:48.560 --> 0:14:53.000 I think it's uh, you know, it's uh well, on 0:14:53.080 --> 0:14:56.920 the one hand, politics is being played here and you know, shocker, right, 0:14:57.080 --> 0:15:01.080 but uh, you know, all the way around. In the end, 0:15:01.240 --> 0:15:04.800 what Republicans have wanted for some time and continue to want, 0:15:05.400 --> 0:15:09.880 uh fundamentally is for for accountability for the money that's 0:15:09.880 --> 0:15:13.000 already gone out, the account of accountability for the money 0:15:13.440 --> 0:15:15.840 that you know will go out with the with the 0:15:15.920 --> 0:15:19.720 new Omnibus and the new Ukraine package. Uh. That's all fair. 0:15:19.800 --> 0:15:22.480 I mean, that's part of what Congress's job is supposed 0:15:22.560 --> 0:15:25.800 to be is to you know, make make decisions on 0:15:26.360 --> 0:15:32.880 appropriations for for national defense, emergency appropriations for uh, important 0:15:32.880 --> 0:15:36.680 things like Ukraine. But at the same time, you know 0:15:36.800 --> 0:15:39.880 that what they really want is accountability. They should get that. 0:15:40.040 --> 0:15:42.680 The Biden people should should prepare to give them a 0:15:42.760 --> 0:15:45.440 good deal of that, and frankly President Zelenski should be 0:15:45.840 --> 0:15:47.840 prepared to give them some of that. I think you 0:15:47.920 --> 0:15:51.440 will see a great deal of unit continued, great deal 0:15:51.520 --> 0:15:55.800 of unanimity on on Ukraine, and that what ends up 0:15:55.880 --> 0:16:02.000 happening here is a more regularized process US for understanding 0:16:02.320 --> 0:16:04.800 what United States money is being used for. And that's 0:16:05.200 --> 0:16:07.440 you know, I consider that fair. You got about a 0:16:07.440 --> 0:16:09.800 minute left here, Terry, do you think this omnibus bill 0:16:09.880 --> 0:16:12.200 gets passed before the end of this week? There's been 0:16:12.360 --> 0:16:19.320 some dispute over Title forty two being included in the package. Oh, sure, 0:16:19.400 --> 0:16:23.320 I think it does. Yeah. Uh. The Supreme Court has 0:16:23.400 --> 0:16:26.400 certainly has the opportunity to to to throw a standard 0:16:26.440 --> 0:16:30.920 and the works on this. But I think that fundamentally, uh, 0:16:31.280 --> 0:16:34.160 you know, this omnibus is going to pass. Uh. I'd 0:16:34.160 --> 0:16:36.600 say there's probably about a ten percent right now, because 0:16:36.640 --> 0:16:39.920 we talk about ten percent chance that it won't. But uh, 0:16:40.120 --> 0:16:43.040 fundamentally I think it will. Um. I do think the 0:16:43.920 --> 0:16:45.640 Congress is going to have to be back at it 0:16:45.720 --> 0:16:48.400 early in the year, regardless after the Supreme Court rules 0:16:48.440 --> 0:16:50.880 on whether or not Title forty two should go forward. 0:16:51.800 --> 0:16:53.840 So just quickly, when it comes to Ukraine, what do 0:16:53.880 --> 0:16:56.800 you see as the trajectory for continued support in terms 0:16:56.880 --> 0:17:00.360 of weaponry for Ukraine in the next Congress? Only about 0:17:00.400 --> 0:17:03.200 thirty seconds left here. Yeah, I I think that the 0:17:03.360 --> 0:17:07.920 trajectory for for Ukraine weaponry is really that, you know, 0:17:08.000 --> 0:17:10.640 we we will continue to provide what we're already providing. 0:17:11.160 --> 0:17:13.600 We will continue to provide the Patriot missile battery that 0:17:13.640 --> 0:17:16.000 we said we would provide. I understand that that will 0:17:16.040 --> 0:17:19.119 take some time to train the Ukrainians up on. But 0:17:19.280 --> 0:17:23.719 I do not expect that we're going to expand UH 0:17:23.800 --> 0:17:27.280 into giving Ukrainians advanced weaponry. But because that's what the 0:17:27.320 --> 0:17:30.680 president said yesterday. All right, Terry, thanks as always, good 0:17:30.760 --> 0:17:33.679 gates your thoughts, particularly on a morning after a historic 0:17:33.920 --> 0:17:37.480 night like we just had experienced. Here. Terry Haynes, the 0:17:37.520 --> 0:17:39.840 founder of Pangea Policy with us this morning, and we're 0:17:39.840 --> 0:17:43.320 gonna bring you more reaction to the Ukrainian president's appearance 0:17:43.400 --> 0:17:48.080 in Washington. Michigan Democrat Dan killed these thoughts straight ahead 0:17:48.400 --> 0:17:51.359 here on Bloomberg Daybreak, looking ahead to the market open. 0:17:52.000 --> 0:17:54.959 Futures are turning just a touchflower now, with SMP futures 0:17:55.000 --> 0:17:57.399 down four point, staff futures down thirty eight, in NASTAIC 0:17:57.480 --> 0:18:03.240 futures down nine points. This is gloom Markets headlines and 0:18:03.440 --> 0:18:06.640 breaking news twenty four hours a day at Bloomberg dot Com, 0:18:06.840 --> 0:18:10.399 the Bloomberg Business and at Bloomberg Quicktape. This is a 0:18:10.480 --> 0:18:19.960 Bloomberg Business lash and I'm Karen Moscow. US dock index 0:18:20.040 --> 0:18:23.159 futures are a little changed to lower this morning and 0:18:23.240 --> 0:18:26.879 European shares ever raised their games. We checked the markets 0:18:26.880 --> 0:18:30.160 all day long year on Bloomberg Rankio again, SNP, NASDAC 0:18:30.240 --> 0:18:33.480 and down futures pretty much little change now. Future is 0:18:33.520 --> 0:18:35.359 now down about a tenth of upper cent or thirty 0:18:35.400 --> 0:18:37.560 three points. The decks in Germany is down about two 0:18:37.640 --> 0:18:40.200 tents of a per cent ten. Your treasury up four 0:18:40.280 --> 0:18:42.440 thirty seconds. You have three point six four percent. The 0:18:42.520 --> 0:18:44.840 yield on a two year four point one nine percent. 0:18:45.280 --> 0:18:47.800 NIMEX screwed oil is at one point seven percent, up 0:18:47.800 --> 0:18:49.919 a dollar twenty nine at seventy nine dollars fifty eight 0:18:50.000 --> 0:18:52.960 cents of barrel comic school. Little change is at eighteen 0:18:53.040 --> 0:18:56.000 twenty four or forty announced. The euro one point oh 0:18:56.080 --> 0:18:58.320 six four or five against the dollar, British bound one 0:18:58.320 --> 0:19:01.000 point two zero nine one, the had one thirty two, 0:19:01.680 --> 0:19:05.159 and bitcoin is up three tents of a percent. It's 0:19:05.200 --> 0:19:08.159 at about sixteen thou eight hundred fifty dollars. That's a 0:19:08.200 --> 0:19:11.080 Bloomberg business flash. Now here's Michael Barr with Moore on 0:19:11.200 --> 0:19:14.040 what's going on around the world. Michael, good morning, Good morning, Karen. 0:19:14.200 --> 0:19:17.639 Ukrainian President Voladimir Zelenski has paid a wartime visit to 0:19:17.720 --> 0:19:20.600 Washington to thank Americans for helping to fund the war 0:19:20.680 --> 0:19:23.560 against Russia, and a speech to Congress, he said the 0:19:23.640 --> 0:19:26.960 money is not charity, by that investment in global security 0:19:27.080 --> 0:19:31.560 and democracy. Americans traveling before Christmas could face big trouble 0:19:31.680 --> 0:19:34.959 getting to their destinations on time because of a massive 0:19:34.960 --> 0:19:39.200 winter storm. China plans to cut quarantine requirements for overseas 0:19:39.240 --> 0:19:42.400 travelers in January. According to people familiar with the matter, 0:19:42.480 --> 0:19:45.840 there will be no more hotel quarantines. In the NBA. 0:19:46.000 --> 0:19:49.480 The next loss, the Nets down the Warriors one thirteen 0:19:49.760 --> 0:19:52.840 in the NHL, The Devil's Won. Global news twenty four 0:19:52.880 --> 0:19:55.600 hours a day on air and on Bloomberg Quicktake, powered 0:19:55.640 --> 0:19:58.800 by more than twenty undred journalists and analysts and more 0:19:58.800 --> 0:20:01.680 than a hundred twenty country Michael Barr, this is Bloomberg. 0:20:01.760 --> 0:20:03.800 Nathan all right, Michael, thank you. It's five twenty three 0:20:03.840 --> 0:20:06.480 on Wall Street. I'm Nathan Hagar. This is Bloomberg day Break. 0:20:06.520 --> 0:20:08.720 Let's turn to another major story in Washington, d C. 0:20:09.000 --> 0:20:13.320 From Ukraine's president visiting to former President Trump's tax returns. 0:20:13.480 --> 0:20:16.119 Democrats on the House Ways and Means Committee voted to 0:20:16.240 --> 0:20:20.160 release information on the former president's personal and business taxes. 0:20:20.520 --> 0:20:24.760 They show his his financial losses shielded him from paying 0:20:24.880 --> 0:20:28.880 much income tax since twenty fifteen. Our Republicans are calling 0:20:28.920 --> 0:20:32.800 the release of these documents a dangerous president Bloomberg's Joe 0:20:32.840 --> 0:20:35.560 Matthews spoke with one of the committee members, Democrat Dan 0:20:35.680 --> 0:20:39.600 Kildee of Michigan, who responded to the GOP complaint. I 0:20:39.640 --> 0:20:43.280 don't think it sets a dangerous precedent. I actually think 0:20:43.359 --> 0:20:46.920 the most dangerous precedent that we could set is to 0:20:47.000 --> 0:20:51.480 have before us evidence that the I R s failed 0:20:52.080 --> 0:20:54.760 to live up to their own obligation to audit the 0:20:54.840 --> 0:20:57.440 president of the United States. They simply didn't do it. 0:20:58.280 --> 0:21:00.880 And we have tax with friends that we've been able 0:21:00.920 --> 0:21:06.159 to examine. The show really serious red flag, you know, 0:21:06.280 --> 0:21:10.960 the notion that the precedent was a dangerous precedent to act. 0:21:11.840 --> 0:21:14.960 I think the most dangerous precedent would be for Congress 0:21:15.040 --> 0:21:18.880 to look at those two pieces of information and just say, oh, well, 0:21:19.680 --> 0:21:22.600 you know, to me, that sends a message, the message 0:21:22.680 --> 0:21:26.560 being that if you're powerful and wealthy, you can continue 0:21:26.600 --> 0:21:29.040 to secure the laws. We decided we're not going to 0:21:29.080 --> 0:21:32.320 allow that to happen, and so we forwarded this information 0:21:33.000 --> 0:21:36.919 onto the U. S. House of Representatives with the legislative 0:21:36.920 --> 0:21:39.760 proposal to fix it. And you know what, that's the 0:21:39.840 --> 0:21:42.080 job I was elected to do. If it makes sense. 0:21:42.119 --> 0:21:45.119 People uncomfortable because they want to continue to sort of, 0:21:45.880 --> 0:21:48.720 you know, circle the wagons around Donald Trump. But they're 0:21:48.760 --> 0:21:52.440 gonna have to explain that, you know, to their constituents 0:21:52.480 --> 0:21:55.359 why they would prefer not to act. I just couldn't 0:21:55.359 --> 0:21:58.000 do it as a good conscience. So what happens next year? 0:21:58.760 --> 0:22:03.959 How and when they be made public? Well, we're our staff, 0:22:04.160 --> 0:22:08.680 there's a venocratic and Republicists are working to product from 0:22:09.000 --> 0:22:13.600 those returns any of those sensitive personal pieces of information 0:22:14.080 --> 0:22:19.680 you know, social security numbers, tax identification numbers, addresses, you know, 0:22:19.800 --> 0:22:24.240 even bank record numbers, things of that nature, simply redactive. 0:22:24.280 --> 0:22:27.000 We don't want to help that implements in public, you know, 0:22:27.080 --> 0:22:30.480 in public do but that should take you know a 0:22:30.600 --> 0:22:33.680 matter of hours and days that needs so I would 0:22:33.680 --> 0:22:36.560 suspect with them the next couple of days. Uh, those 0:22:36.760 --> 0:22:40.480 those documents would be available. You've seen them. Are we 0:22:40.600 --> 0:22:45.960 in for something here? Yes? And a sussassinates to to 0:22:46.080 --> 0:22:48.720 take a look at these returns in the lack of 0:22:48.880 --> 0:22:56.080 documentation for huge cash charitable contributions, for example, or loans 0:22:56.920 --> 0:23:01.919 and you know teen family members, or you know, conservation 0:23:02.080 --> 0:23:07.680 easements that are enormous, and then the lap of responsibility 0:23:07.680 --> 0:23:11.680 to actually pay taxes. Two of the taxes President Trump 0:23:11.960 --> 0:23:17.280 paid seven seven dollars in federal income taxes one year zero. 0:23:18.359 --> 0:23:21.600