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Speaker 1: Five from the Bloomberg in director Berger Studios. This is

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Speaker 1: Bloomberg day Break for a Tuesday, March fifteen two. Coming

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Speaker 1: up this hour, China tries to avoid taking a hit

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Speaker 1: from the US led sanctions against Russia. Stocks followers sees

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Speaker 1: at Hong Kong plunging almost six percent. The man's dank

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Speaker 1: one under It enters the day in bare territory, and

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Speaker 1: the Fed begins it's two day policy meeting. The search

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Speaker 1: continues for the government and shot homeless men in New

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Speaker 1: York and Washington d C, plus China, Scopenbridge climes the

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Speaker 1: numbers since the beginning of the pandemic. I'm Michael larn

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Speaker 1: More Ahead, I'm John Stashnward sports. NFL free agency underway,

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Speaker 1: but new Yankees joined the team in Tampa and a

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Speaker 1: scary day for a start of the Mets. That's all

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Speaker 1: straight ahead on Bloomberg day Break on Bloomberg eleven three

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Speaker 1: on New York Bloomberg one, Washington d C Bloomberg one

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Speaker 1: oh six one, Boston, Bloomberg nine sixty, San Francisco, Sirius

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Speaker 1: XM one nineteen and around the world on Bloomberg Radio

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Speaker 1: dot com and via the Bloomberg Business Act and good

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Speaker 1: morning on John Tucker and I'm Karen Moscow, and futures

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Speaker 1: are lower this morning. We're coming up to six o

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Speaker 1: one on Wall Street, and we check the markets every

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Speaker 1: fifteen minutes throughout the trading day on bloomberg S and

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Speaker 1: P Future is down sixteen points down, futures down one

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Speaker 1: forty six and NASDACK futures down forty two. The decks

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Speaker 1: in Germany is down more than two percent. The ten

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Speaker 1: year treasury up ten thirty seconds, yield two point nine percent.

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Speaker 1: They yield on the two year one point eight one percent.

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Speaker 1: Nine x screwde oil is down six point two percent,

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Speaker 1: down six dollar thirty seven cents at ninety six dollars

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Speaker 1: sixty four cents of barrel and co Mix's gold is

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Speaker 1: down one and a third percent, John, and we'll have

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Speaker 1: more on the markets in just a minute, But first,

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Speaker 1: the latest on the war in Ukraine. Shllon continued overnight

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Speaker 1: with buildings hit in the capital Kiev. Meanwhile, the US

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Speaker 1: has were in China about any support for Russia's invasion.

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Speaker 1: Bloomberg's Ed Baxter has that part of the story. This

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Speaker 1: was the first high level meeting between the two since

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Speaker 1: the invasion started and the US calls it a substantial discussion.

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Speaker 1: White House Folks Woman Jensaki says the message was clear

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Speaker 1: if China were to decide to be an economic provider

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Speaker 1: or to take additional steps there to Russia. They only

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Speaker 1: make up of the world's economy. The G seven countries

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Speaker 1: make up more than fifty percent, so there are a

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Speaker 1: range of tools at our disposal. China stances that the

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Speaker 1: US has been putting out misinformation and that it just

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Speaker 1: wants to be a peacekeeper. In San Francisco, I'm at

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Speaker 1: Baxter Bloomberg Daybreak, all right, and thank you. And China

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Speaker 1: also wants to avoid being hit by US sanctions. We

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Speaker 1: get that part of the story from Bloomberg's Amy Morris.

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Speaker 1: In our newsroom in Washington, China's Foreign Minister Whang Yi

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Speaker 1: says China quote is not a party to the crisis,

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Speaker 1: nor does it want the sanctions to affect China. It

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Speaker 1: is the most explicit statement yet on the impact of

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Speaker 1: American sanctions over Russia's war. Investors are growing more concerned

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Speaker 1: that Chinese companies could face similar penalties after Russia asked

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Speaker 1: China for military and financial aid. The US has also

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Speaker 1: repeatedly warned China do not help Russia try to evade

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Speaker 1: those sanctions. China needs to maintain good relations with the

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Speaker 1: US and its partners to meet its economic goals. In Washington,

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Speaker 1: I'm maybe Morris Bloomberg Daybreak. The war in Ukraine will

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Speaker 1: have a big impact on the economies of all fifty

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Speaker 1: states here in the US. Let's get the latest line

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Speaker 1: form Bloomberg's Renny to Young Ranita, good morning, Good morning John.

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Speaker 1: Although the US has limited trade ties with Russia and Ukraine,

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Speaker 1: businesses from beer breweries and Missouri to semiconductor plants in

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Speaker 1: California would see an impact. That's according to an analysis

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Speaker 1: by Moody's Analytics. Energy producing states like Alaska and North

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Speaker 1: Dakota would do better than others since the conflict is

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Speaker 1: boosting oil prices, but the two states most dependent on

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Speaker 1: cars and driving, Alabama and Mississippi, would likely suffer disproportionately

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Speaker 1: from an energy shock. Live in New York, I'm Ranita

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Speaker 1: Young Bloomberg Daybreak. A right, Granita, thank you. While turning

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Speaker 1: to the markets now, we're seeing more pressure on US

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Speaker 1: stocks following yesterday's tent draw for the Nasdack. In fact,

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Speaker 1: the NASDAC one hundred index closed in bear market territory.

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Speaker 1: Sarah pon Sex, Senior wealth Strategy associated UBS Private Wealth Management, said,

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Speaker 1: the markets being hit by a one to punch. Not

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Speaker 1: only do we have a federal reserve that is now

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Speaker 1: going to be increasing interest rates, but at the same time,

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Speaker 1: when we think about the Russian invasion of Ukraine, that

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Speaker 1: has major implications for global growth, that has major implications

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Speaker 1: for the inflation outlooks, and we all know at this

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Speaker 1: point that the federal reserve is so unilatterly focus on inflation.

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Speaker 1: UBS the Private Wealth Managements Sarah pon Sex said, the

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Speaker 1: NASTAC one hundred has dropped twenty one from its closing

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Speaker 1: high back in November, and we're seeing the selling continue overseas.

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Speaker 1: Let's get the very latest live with Bloomberg's Max Ramsey. Max.

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Speaker 1: Good morning morning to you, John and Karen. Yes, we

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Speaker 1: see a retreat for global stocks and futures led by

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Speaker 1: this really relentless selling. In China. We just have strong

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Speaker 1: data OUTE, but the mix of Russia exposure, lockdowns and

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Speaker 1: regulatory pressure leading to a fierce sell off. Hong Kong's

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Speaker 1: Hang Seng closing down five point seven percent a little

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Speaker 1: earlier and the Hang Seng Tech Index down eight point one.

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Speaker 1: That's sending us fairly risk off here in Europe two

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Speaker 1: around two hours into the European equities session in the

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Speaker 1: stock six hundred down one point seven percent so far.

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Speaker 1: Live in London, Max Ramsey, Bloomberg Daybreak. All right, Max,

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Speaker 1: thank you. As we mentioned weighing on the markets, particularly

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Speaker 1: here in the US is higher interest rates. Well, today

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Speaker 1: the FED begins it's two day meeting where it's expected

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Speaker 1: to begin that rate hiking cycle, and Bloomberg's Vineydale Juda

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Speaker 1: says more even a wink and that are rare when

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Speaker 1: the Federal Reserve contemplates pilocy. In the past few weeks,

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Speaker 1: central bankers have turned to the bell and siren signaling

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Speaker 1: rates are petted hired to combat inflation, and most likely

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Speaker 1: starting this week, Bloomberg Economics anticipates our quarter point increased

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Speaker 1: two years after the pandemic struck, forcing emergency FED action

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Speaker 1: to cut rates to near zero. The question now is

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Speaker 1: will defense new mission be too little, too late as

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Speaker 1: inflation burrows In any doubt? Judais, Bloomberg day Break, Thanks Finny.

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Speaker 1: One other note on the Fed this morning, Democratic Senator

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Speaker 1: Joe Mansion says he won't back Presidential Biden's nominee for

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Speaker 1: the Federal Reserve Vice Chair of Supervision, Sarah bloom Raskin.

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Speaker 1: We get the tales from Bloomberg's Charlie Pellett. It likely

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Speaker 1: dooms her confirmation in the Senate given broad Republican opposition. Mansion,

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Speaker 1: who represents Cole Rich West Virginia and supports an expansion

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Speaker 1: of oil and gas drilling, joined Republicans and opposing Raskin

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Speaker 1: over her stance on climate change. Raskin has written in

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Speaker 1: the past in support of the Fed increasing its attention

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Speaker 1: to financial risks from climate change, but said in her

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Speaker 1: confirmation hearing the Central Bank had no place in mandating

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Speaker 1: how capital should be allocated among industries. In New York

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Speaker 1: Charlie Public Bloomberg Day Break, Charlie, thank you. In corporate news,

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Speaker 1: Discovery paid CEO David Soundslav more than two hundred forty

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Speaker 1: six million dollars last year, making him one of the

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Speaker 1: highest paid executives in the US. More than two hundred

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Speaker 1: million of that game and stock options. As Lav is

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Speaker 1: about to close one of the media industry's biggest mergers,

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Speaker 1: and this is Bloomberg. Thanks Karen six oh sl on

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Speaker 1: Wall Street. Let's bring in Mianael barn now to find

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Speaker 1: out what else is going on in New York and

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Speaker 1: around the world. Thank you very much, John, and we

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Speaker 1: have breaking news. There are several reports that the suspected

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Speaker 1: gunmen who shot five homeless men in New York and Washington,

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Speaker 1: d C has been arrested. That's according to a t

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Speaker 1: F agents in d C. The mayors of New York

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Speaker 1: City and Washington d C. Asked for the public's help.

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Speaker 1: Police in the two cities released multiple surveillance photos, including

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Speaker 1: a close up snap shot clearly showing the man's face.

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Speaker 1: New York City Mayor Eric Adams, Washington d C is

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Speaker 1: not manufacturing guns New York City. It's not a gun

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Speaker 1: manufacturment city, but the guns, Washington d C. Mayor Muriel Bowser.

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Speaker 1: One person in DC die of his injuries, and at

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Speaker 1: least one person in New York City has died. Mayor

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Speaker 1: Bowser says in each case, the homeless men was shot

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Speaker 1: as they slept in the street. The man wanted for

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Speaker 1: a double stabbing at New York's Museum of Modern Art

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Speaker 1: has been arrested. Gary Cabanna was taken into custody s

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Speaker 1: leaving on a bench at the Greyhound bus terminal in Philadelphia.

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Speaker 1: Police were looking for a man who fit his description

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Speaker 1: for a fire at a nearby hotel. Authority say the

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Speaker 1: fire was believed set by a man resembling the sixty

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Speaker 1: year old suspect. He was arrested without incident. China saw

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Speaker 1: more than five thousand new COVID nineteen infections for the

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Speaker 1: first time since the early days of the pandemic. Outbreaks

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Speaker 1: of the omicron variant prompted officials to lock down more

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Speaker 1: cities and impose restrictions. Support is for the tam W

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Speaker 1: NBA star Brittney Griner called for her release from prison

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Speaker 1: in Russia. Grinder was arrested after customs officials said they

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Speaker 1: found vape cartridges containing cannada soil in her luggage. At

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Speaker 1: a news conference in Los Angeles, Project Islamic Hope director

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Speaker 1: Naji Ali called on the Biden administration to negotiate the

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Speaker 1: release of all Americans detained in Russia. It's very troubling

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Speaker 1: for britt Gronner. Not only female, is a member of

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Speaker 1: the l Q community who Russia. Ali, noting former President

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Speaker 1: Trump's relationship with Vladimir Putin says if it takes reaching

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Speaker 1: out to Trump to get Americans home, then so be it.

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Speaker 1: Connecticut governor that demand has unveiled a proposal to to

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Speaker 1: spend one of the states two taxes on gas by

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Speaker 1: cents per gallon until June. According to the Triple A,

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Speaker 1: Connecticut is paying an average a record of four dollars

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Speaker 1: forty eight cents per gallon. Global News twenty four hours

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Speaker 1: a day on air, and no Bloomberg quiitake, powered by

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Speaker 1: more than hundred journalists and antalists more than a hundred

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Speaker 1: twenty countries. I'm Michael bar This is Bloomberg, John Michael,

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Speaker 1: thank you. He is now six ten of of wols

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Speaker 1: free Fitts time with the Bloomberg Sports Update. Hugh all

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Speaker 1: Right John NFL free agency underway. Jets and Giants, obviously

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Speaker 1: the better players, both have deals to help the offensive line.

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Speaker 1: Giants are adding Mark Glowinski, starting guard the last three

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Speaker 1: seasons in Indianapolis, as well as center John Feliciano who

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Speaker 1: was with Buffalo. Another guard Lake and Tomlinson will come

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Speaker 1: to the Jets from the forty niners. Jets adding tight

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Speaker 1: end c Ja Zuma just helped Cincinnati get the Super Bowl,

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Speaker 1: and the Jets re signed white out and All Pro

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Speaker 1: kick returner Braxton Burial. Looks like Mitchell Trabski will be

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Speaker 1: the replacement to Ben Roethlisberger as the starting QB in Pittsburgh.

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Speaker 1: The new Yankees infielders Josh Donaldson and Isaiah Kiner Felipa's

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Speaker 1: well as the young catcher Ben Roartfelt joined the team

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Speaker 1: at Tampa after the trade of Minnesota Yankee g M

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Speaker 1: Brian Cashman's folk with the Yes Networks because we filled

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Speaker 1: up craiz us a third short improves are you know

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Speaker 1: the player that we had in labor at second Um.

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Speaker 1: You know, we had a lot of versatility from it.

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Speaker 1: So I think it's settled. A lot of business needs.

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Speaker 1: Wives in Port St. Lucy met slugger Pete Alonso will

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Speaker 1: be in full drills today. Sunday night, as Alonso began

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Speaker 1: to drive across the state from his home in Tampa,

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Speaker 1: got hit by a car that ran a red light.

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Speaker 1: Alonso's car flipped over three times. He had to kick

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Speaker 1: in the windshield. Fortunately he's okay. NBA last night wins

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Speaker 1: for Atlanta, Golden State and Minnesota. Trey Young scored forty

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Speaker 1: six points, Steph Curry forty seven and a sixty point

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Speaker 1: game for Karl Anthony Towns. Meanwhile, another loss to the

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Speaker 1: Lakers in l A. They trailed Toronto by twenty one

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Speaker 1: in the first quarter. Never as Lebron James been on

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Speaker 1: a team this bad. Lakers have lost twenty of the

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Speaker 1: last twenty. John Dash Award Bloomberg's flats John Alright, Thanks John,

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Speaker 1: ahead of the can show up on Love Wall Street.

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Speaker 1: Dalla futures down one hundred fourteen points. He has some futures,

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Speaker 1: love them point slore nasdac he man the futures twenty points. Lord,

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Speaker 1: you're listening to Bloomberg tabering Dave Rank being brought to

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Speaker 1: j c F n Y dot org. Markets headlines and

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Speaker 1: breaking news twenty four hours a day at Bloomberg dot com,

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Speaker 1: bloo Bloomberg Business Out and at Bloomberg Quick Tape. He's

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Speaker 1: a Bloomberg business lash and I'm Karen Moss. Yeah, watching

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Speaker 1: some headlines from the United Airlines crossing the Bloomberg. It's

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Speaker 1: his first quarter operating revenue near the better end of

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Speaker 1: its prior guidance, and it now expects the quarter's capacity

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Speaker 1: to be down by about nine percent versus the first

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Speaker 1: quarter of twenty nineteen. Again, those just crossing the Bloomberg

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Speaker 1: right now. Equities in Europe, meanwhile, are tumbling as relentless

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Speaker 1: sell off in Chinese stocks buffeted global markets, handing to

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Speaker 1: concerns about the war in Ukraine and imminent federal reserve tightening.

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Speaker 1: U Stock Index Future is also lower and crude oil

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Speaker 1: is extending a retreat. We checked the markets every fifteen

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Speaker 1: minutes throughout the trading day on Bloomberg Guess and P

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Speaker 1: Future is down eleven points down. Future is down one

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Speaker 1: hundred one nasdack futures down sixteen. The decks in Germany's

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Speaker 1: down one point nine percent. The ten year treasury of

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Speaker 1: eight thirty seconds yield two point one zero percent. That

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Speaker 1: yield on the two year one point eight one percent.

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Speaker 1: Nim Ex Screute oil is down five point nine percent

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Speaker 1: on six dollars nine cents at ninety six dollars ninety

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Speaker 1: cents of barrel comex school is down one and a

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Speaker 1: half percent, or twenty nine dollars seventy cents at nineteen

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Speaker 1: thirty one. Ten announced the euro one point nine nine

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Speaker 1: seven against the dollar, British found one point three zero

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Speaker 1: three eight, the Yunis had won seventeen point nine seven,

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Speaker 1: and Bitcoin this morning down about a third of a

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Speaker 1: percent at thirty eight thousand, six hundred dollars. That's a

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Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on

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Speaker 1: what's going on around the world. Uncle Karen, thank you

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Speaker 1: very much. Russia's offensive and Ukraine has edged closer to

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Speaker 1: central Kiev with a series of strikes hitting a residential neighborhood.

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Speaker 1: It comes as the leaders of three NATO member countries, Poland,

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Speaker 1: the Czech Republic and Slovakia Planda visit Ukraine's embattled capital.

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Speaker 1: The sappen on live Russian State TV and people are

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Speaker 1: still talking about it and employee ran onto the set

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Speaker 1: and held a sign behind the anchor that read no war.

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Speaker 1: The sign also read to the effect that State TV

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Speaker 1: is telling you lies. The White House is considering a

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Speaker 1: trip to Europe for President Biden, sources saying a presidential

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Speaker 1: trip would seek to reassure NATO allies that they have

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Speaker 1: US backing as Russia continues its war in Ukraine. The

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Speaker 1: timing of a possible trip is still unclear. In the NBA,

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Speaker 1: the Warriors beat the Wizards. One twelve Global News twenty

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Speaker 1: four hours a day on air and on Bloomberg Quick Take,

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Speaker 1: powered by more than twenty seven hundred journalists and analysts

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Speaker 1: in more than a hundred twenty countries. I'm Michael bar

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Speaker 1: This is Bloomberg. This is the Big Take, the best

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Speaker 1: to bloom Earns in depth, original reporting from around the globe.

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Speaker 1: We're running on a financial system that's running on old

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Speaker 1: Technology's which fresh recordized what unfolds in mid terms we

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Speaker 1: will no doubt see again in the next presidential election.

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Speaker 1: The Big Take on Bloomberg Radio six twenty of Wall Street. Well,

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Speaker 1: Russia's economy fraying, Its currency is collapsed, It's dead, is junk?

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Speaker 1: Next up, maybe a potential default. Joining us this morning

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Speaker 1: for the Big Take Bloomberg's self shut Alcolock, Hey, what

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Speaker 1: happens with the bomb payments that are do what tomorrow?

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Speaker 1: It's a pretty big payment. That's do right, that's right.

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Speaker 1: It is a really big time for emerging markets and

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Speaker 1: global debt markets. Russian government is due to pay one

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Speaker 1: hundred million dollars in interest on dollar bonds, and we

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Speaker 1: don't know if they will be able to do that

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Speaker 1: because of sanctions by the United States and the European Union,

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Speaker 1: whether in US as will be able to access to

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Speaker 1: their funds or not. All Right, the key there these

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Speaker 1: are dollar bonds, but I guess the Russia wants to

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Speaker 1: pay it in rubles, and God knows what the rubles worth,

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Speaker 1: right and right about now, it's what one fifteen right.

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Speaker 1: The Finance Ministry yesterday said that it will try to

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Speaker 1: make the payments in dollars. First of all, it asked

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Speaker 1: the payment agents and basically banks in the West to

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Speaker 1: pay the bond holders. But if it can't then it

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Speaker 1: will make the payment in rubles. But the bonds do

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Speaker 1: not have the option to close to make payments in rubles.

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Speaker 1: So the expectation by lawyers and by rating agencies is

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Speaker 1: that this is going to be probably the first default

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Speaker 1: by Russia since nineteen seventeen bos Revolution. Okay, so what

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Speaker 1: happens next after that? I mean, what's the practical implications

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Speaker 1: for me over here sitting in the United States for

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Speaker 1: a Russian bond of fault. I'm afraid everyone have to

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Speaker 1: wait a bit more because these bonds due to be

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Speaker 1: paid this week. They have thirty days grace period, which

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Speaker 1: means that Russia has the chance to pay them later.

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Speaker 1: But after that thirty days, Uh, it's going to be

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Speaker 1: announced by a credit roties Determinations committee and rating agencies

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Speaker 1: that this is a default. Treasure has failed to make

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Speaker 1: his payments and they will trigger CDs. Who gets hurt

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Speaker 1: by this, I mean who invested in these bonds in

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Speaker 1: the first place and was expecting to be repaid pretty

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Speaker 1: much everyone, I mean Russia was just a few weeks

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Speaker 1: ago an investment rate credit and uh, it's that is

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Speaker 1: one fifty billion dollars. Forty billion dollars of that is

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Speaker 1: sovereign that I mean global institutions, from our black Rock

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Speaker 1: to Fidelity, to Capital Group, European banks. Pretty much everyone

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Speaker 1: was invested in Russian DAD, and Russian Dad was part

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Speaker 1: of the emerging market in disease and passive funds ets

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Speaker 1: tracking these indsease actually had to buy Russian that until now,

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Speaker 1: because Russia has been kicked out of these indsease. Okay,

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Speaker 1: in the United States, I'm just kind of nailed down

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Speaker 1: some of the investors. Were they pension funds? Yes, pension

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Speaker 1: funds are probably included in this because I mean, pension

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Speaker 1: funds usually require their investments to be investment grade to

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Speaker 1: investment grades by two rating agencies movies SMP ratings or

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Speaker 1: FEAST ratings. And just a few weeks earlier, Russia was

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Speaker 1: an investment grade credit. It has more than a six

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Speaker 1: hundred billion dollars reserves. It was considered as a very

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Speaker 1: safe investment. So who goes from investment grade in just

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Speaker 1: a matter of days to junk. I've never seen that

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Speaker 1: happen before me neither. Yeah, I mean it's very tragic

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Speaker 1: in a sense, and at the same time it was

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Speaker 1: very hard credits. But at the same time, I mean,

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Speaker 1: you know, the US government present Biden repeatedly said Russia

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Speaker 1: is preparing to invade Ukraine. So probably some people managed

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Speaker 1: to exit just before the start of the invasion, but

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Speaker 1: some people were called off guard going forward. Is anybody

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Speaker 1: gonna long Russia money after this? Uh? Probably yes, because

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Speaker 1: investors have a short memory. If you remember Argentina, for example,

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Speaker 1: Argentina defaulted on is that sixteen times? And it still

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Speaker 1: managed to sell one hundred years UH bonds and Russia.

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Speaker 1: If it restores I mean U, I mean some kind

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Speaker 1: of diplomatic solution, probably people will start buying it again

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Speaker 1: because it's very cheap. The bonds are trading at a

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Speaker 1: less than two understands. But at the moment in the

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Speaker 1: world it looks quite impossible. Bloomberg sell check Alla cook at.

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Speaker 1: That is today's Bloomberg Big eight dowth futures right now

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Speaker 1: eighty five points lower. You're listening to Bloomberg Daybreak, the

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Speaker 1: weather from Rob Carolin, partly the mostly Sunday today, the

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Speaker 1: high temperature topping out a round sixty. It's better to

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Speaker 1: borrow mostly Sunday of warm temper. You're about sixty five

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Speaker 1: broadcasting live from the Bloomberg Interactive Broker Studio in New York.

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Speaker 1: Bloomberg E Living Freedom to Washington, d C, Bloomberg to Boston,

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Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine

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Speaker 1: sixty to the country, Sirius XM A one nine, and

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Speaker 1: around the globe the Bloomberg Business app and Bloomberg Radio

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Speaker 1: dot Com. This is Bloomberg Daybreak and Good Morning six

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Speaker 1: thirty on Wall Street on John Tucker and I'm Karen Moscallen.

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Speaker 1: We're just about three hours away from the open of

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Speaker 1: US training. Time for the five things you need to notice.

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Speaker 1: Start your rounty you buy Interactive Brokers Simple i v

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Speaker 1: your free trial at ivkr dot com. Slash Global Trader

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Speaker 1: up for Shelling in Ukraine's capital, Kiev continued overnight as

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Speaker 1: Russia carries on with its invasion. American officials began disclosing

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Speaker 1: Russia's bid for military and economic assistance from its most

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Speaker 1: powerful ally, China, but White House Spress Secretary Agen Saki

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Speaker 1: warrants there would be significant consequences for Beijing if it

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Speaker 1: provides assistance to Moscow. They only make up fifteen percent

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Speaker 1: or of the world's economy. The G seven countries make

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Speaker 1: up more than fifty percent, so there are a range

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Speaker 1: of tools at our disposal. Jen Psaki was speaking after

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Speaker 1: officials from China and the US met in Rome for

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Speaker 1: their first high level talk since the invasion began. The

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Speaker 1: Binden administration calls talks constructive, but former US Defense Secretary

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Speaker 1: Mark aspirate tales. Boomberg's sound on China won't side with

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Speaker 1: the West in this conflict. There is a strategic partnership

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Speaker 1: that has emerged over the years between Moscow and Beijing.

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Speaker 1: Uh This invasion of Ukraine by Russia, however, has placed

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Speaker 1: China and some of an uncomfortable position. Mark Answer believes

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Speaker 1: it's unlikely Russia would cross it into a NATO country

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Speaker 1: reportedly is considering a trip to Europe to ramilly support

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Speaker 1: for NATO allies. Well, John, the war in Ukraine will

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Speaker 1: have a big impact on the economies of all fifties

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Speaker 1: states here in the U S and me get the

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Speaker 1: latest lie from bloomberg'shire I need a young good morning

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Speaker 1: ready to good morning, Karen. Although the US has limited

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Speaker 1: trade ties with Russia and Ukraine, businesses from beer breweries

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Speaker 1: in Missouri to semiconductor plants in California would see an impact.

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Speaker 1: That's according to an analysis by Moody's Analytics. Energy producing

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Speaker 1: states like Alaska and North Dakota would do better than

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Speaker 1: others since the conflict is boosting oil prices, but the

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Speaker 1: two states most dependent on cars and driving, Alabama and Mississippi,

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Speaker 1: would likely suffer disproportionately from an energy shock. Lie of

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Speaker 1: in New York. I'm re need a Young Bloomberg day break, Lauren, thanks,

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Speaker 1: we need to us features and stocks overseas are falling.

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Speaker 1: Hong Kong's Hang Sang index fell almost six percent, the

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Speaker 1: europe six hundred index down almost two percent. But has

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Speaker 1: that one enters the day in bear market territory and

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Speaker 1: back in Washington, John West, Virginia Senator Joe Mansion will

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Speaker 1: oppose Biden's domination of Sarah Bloom Moraskin as a Federal

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Speaker 1: reserves vice share of supervision of both that's likely needed

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Speaker 1: to confirm her. It comes as the Fed begins it's

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Speaker 1: two day meeting where it's expected to raise interest rates.

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Speaker 1: And that's the five things you need to know to

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Speaker 1: start your day, brought to you by Interactive Brokers. Alright,

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Speaker 1: thanks Karen. It is now six thirty three UM Wall Street,

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Speaker 1: and it's time for Michael barn to tell us what

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Speaker 1: else is going on in New York and around the world. John,

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Speaker 1: thank you very much. Developing news, the Washington d C.

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Speaker 1: Police Department says the suspect has been arrested this morning

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Speaker 1: in connection to two homicides and at least three additional

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Speaker 1: shootings of homeless men in DC and New York City.

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Speaker 1: Police say two shootings over the weekend in New York

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Speaker 1: match three attacks in Washington earlier this month. In each case,

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Speaker 1: homeless men were shot as they slept in the street.

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Speaker 1: New York City Mayor Eric Adams the over proliferation of

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Speaker 1: guns and ours cities is creating an encounter this causing

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Speaker 1: bloodshed across our nation. Mayor Adams, along with d C

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Speaker 1: Mayor Muriel Bowser, had announced seventy dollar reward leading to

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Speaker 1: the gunman's arrest. The suspect wanted for a shocking stabbing

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Speaker 1: attack inside New York City's Museum of Modern Art has

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Speaker 1: been arrested in Philadelphia. Scott Small, chief inspector with the

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Speaker 1: Philadelphia Police says authorities made the arrest at a Greyhound

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Speaker 1: bus terminal. This individual is cooperating with police. He didn't

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Speaker 1: put up a fight, he didn't resist when police took

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Speaker 1: him in the cassidy. He came along with police Voleuncharlie,

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Speaker 1: so we're lucky in that respect. Police Gary Cavana was

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Speaker 1: arrested after he fit the description for a man who

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Speaker 1: set a fire at a nearby Hotel. Idaho could have

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Speaker 1: a new stricter abortion law, similarly to other states like

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Speaker 1: Texas and Florida. The Idaho bill bands abortions after six

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00:25:14,640 --> 00:25:17,920
Speaker 1: weeks of pregnancy. The Republican led legislature voted it in

430
00:25:18,080 --> 00:25:21,240
Speaker 1: and now it goes to GOP Governor Brad Little for

431
00:25:21,359 --> 00:25:24,800
Speaker 1: his signature. One year after signing the American Rescue Plan

432
00:25:24,920 --> 00:25:28,320
Speaker 1: and the law, President Biden is touting US economic growth.

433
00:25:28,800 --> 00:25:32,000
Speaker 1: In the speech at the National League of City's conference

434
00:25:32,040 --> 00:25:35,280
Speaker 1: in d C. The President linked rising fuel costs to

435
00:25:35,359 --> 00:25:39,800
Speaker 1: the invasion of Ukraine. Make no mistake, the current spiking

436
00:25:39,840 --> 00:25:43,720
Speaker 1: gas prices is largely the fault of Vladimir Putin. There's

437
00:25:43,840 --> 00:25:46,840
Speaker 1: nothing to do with the American Rescue Plan. President Biden

438
00:25:46,880 --> 00:25:50,200
Speaker 1: also says, according to experts, the American Rescue Plan contributed

439
00:25:50,280 --> 00:25:54,520
Speaker 1: to only point three percent to inflation. China has reported

440
00:25:54,520 --> 00:25:57,400
Speaker 1: a more than doubling of new COVID nineteen cases as

441
00:25:57,440 --> 00:26:00,440
Speaker 1: it faces by far its biggest outbreak into the early

442
00:26:00,520 --> 00:26:03,639
Speaker 1: days of the pandemic. Puerto Rico's government is formerly exiting

443
00:26:03,680 --> 00:26:08,080
Speaker 1: bankruptcy after completing the largest public debt restructuring in US history.

444
00:26:08,160 --> 00:26:10,760
Speaker 1: It announced nearly seven years ago that it was unable

445
00:26:10,840 --> 00:26:14,119
Speaker 1: to pay. It's more than seventy billion dollar debt. Global

446
00:26:14,160 --> 00:26:16,440
Speaker 1: News twenty four hours a day on air and on

447
00:26:16,520 --> 00:26:19,879
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven hundred journalist

448
00:26:19,880 --> 00:26:22,440
Speaker 1: and analyst more than a hundred twenty countries. Michael Barr,

449
00:26:22,520 --> 00:26:25,000
Speaker 1: this is Bloomberg. John. Alright, Michael, thank you very much.

450
00:26:29,080 --> 00:26:31,680
Speaker 1: He's now six thirty six on Wall Street. That's time

451
00:26:31,720 --> 00:26:34,880
Speaker 1: for the Bloomberg Sports Update. And here's John staff show.

452
00:26:34,960 --> 00:26:37,720
Speaker 1: All right, John, no secret. The Giants need to improve

453
00:26:37,760 --> 00:26:39,760
Speaker 1: their offensive line. They don't have a lot of salary

454
00:26:39,800 --> 00:26:41,959
Speaker 1: cap space, but on opening day at free agency they

455
00:26:42,040 --> 00:26:45,600
Speaker 1: did add too. Offensive lineman Mark Lowinski had been a

456
00:26:45,680 --> 00:26:49,320
Speaker 1: starting guard with Indianapolis, and center John Feliciano, who was

457
00:26:49,400 --> 00:26:52,800
Speaker 1: with Buffalo. Another guard Lake and Tomlinson. He's joining the Jets,

458
00:26:53,160 --> 00:26:55,240
Speaker 1: coming from the forty nine. The Jets also got tight

459
00:26:55,320 --> 00:26:58,520
Speaker 1: end c j. A Zuma from Cincinnati. They resigned Braxton Barrios,

460
00:26:58,760 --> 00:27:00,800
Speaker 1: who was an All Pro lassie as a kick returner.

461
00:27:00,840 --> 00:27:03,120
Speaker 1: Tight End Evan Ingram leaving the Giants. He was once

462
00:27:03,440 --> 00:27:06,480
Speaker 1: their first round draft pick. He's headed to Jacksonville. Josh

463
00:27:06,600 --> 00:27:08,879
Speaker 1: Donaldson joined the Yankees in Tampa the day after the

464
00:27:08,880 --> 00:27:12,040
Speaker 1: Big trade. Last year, Donaldson, while with the Twins, accused

465
00:27:12,119 --> 00:27:15,920
Speaker 1: his now teammate Garrett Cole of using sticky stuff to

466
00:27:16,000 --> 00:27:19,600
Speaker 1: help doctor the ball cold and struck Donaldson out three times.

467
00:27:19,840 --> 00:27:25,119
Speaker 1: Whatever happened happened. Um Obviously he felt like it was

468
00:27:25,160 --> 00:27:26,920
Speaker 1: a better idea to probably strike me out, which he

469
00:27:26,960 --> 00:27:30,960
Speaker 1: did util a few times. So at the end of

470
00:27:31,000 --> 00:27:34,000
Speaker 1: the day, I'm happy to be on the same team

471
00:27:34,480 --> 00:27:37,119
Speaker 1: did not have to strike out against some more. Yankees

472
00:27:37,160 --> 00:27:39,520
Speaker 1: had been in talks with Oakland about acquiring first baseman

473
00:27:39,560 --> 00:27:43,080
Speaker 1: Matt Olsen. He's instead headed to Atlanta, which means Freddie

474
00:27:43,119 --> 00:27:45,800
Speaker 1: Freeman will likely not resigned with the Brave. Nets play

475
00:27:45,880 --> 00:27:49,680
Speaker 1: tonight in Orlando. The unvaccinated Kyrie Irving couldn't play, but

476
00:27:49,800 --> 00:27:52,480
Speaker 1: did attend Sunday's home game. Also went into the Nets

477
00:27:52,560 --> 00:27:55,520
Speaker 1: locker room for doing that city New York, buying the

478
00:27:55,560 --> 00:27:58,840
Speaker 1: Nets fifty dollars. Camera Smith won the rain Delade Players

479
00:27:58,960 --> 00:28:02,520
Speaker 1: Championship Golf and floor by one shot. John Broomberg Sports

480
00:28:02,640 --> 00:28:05,080
Speaker 1: John all Right, John Thanks a Lot is now six

481
00:28:05,480 --> 00:28:08,840
Speaker 1: seven on Wall Street, and that brings us to stocks

482
00:28:09,119 --> 00:28:10,760
Speaker 1: and some of the names that are moving in the

483
00:28:10,960 --> 00:28:13,360
Speaker 1: pre market. This morning. For that, we're joined by Bloomberg

484
00:28:13,440 --> 00:28:17,200
Speaker 1: Radio and TV Markets corresponded, pretty Gupta fresh off for

485
00:28:17,320 --> 00:28:20,120
Speaker 1: twelve hour naw fresh off my twelve hour nap foks.

486
00:28:20,160 --> 00:28:23,840
Speaker 1: I got so much, it was so great. Um, not

487
00:28:24,000 --> 00:28:26,879
Speaker 1: to brag on a Tuesday, but here we are. You

488
00:28:27,000 --> 00:28:29,240
Speaker 1: are seeing some features higher when it comes to the

489
00:28:29,320 --> 00:28:32,480
Speaker 1: NASA and features kind of flat. But underneath the hood,

490
00:28:32,880 --> 00:28:36,440
Speaker 1: only sixteen stocks are actually higher in the pre market.

491
00:28:36,480 --> 00:28:38,560
Speaker 1: So that does tell you that there is looks like

492
00:28:38,600 --> 00:28:39,960
Speaker 1: to be a little bit of pain here at the opening.

493
00:28:40,040 --> 00:28:41,520
Speaker 1: Let's talk about what is moving to the upside, and

494
00:28:41,520 --> 00:28:43,920
Speaker 1: that of course is going to be those airlines. Delta

495
00:28:44,120 --> 00:28:47,040
Speaker 1: coming out saying one quarter or first quarter revenue sees

496
00:28:47,080 --> 00:28:50,880
Speaker 1: me about seventy eight percent recovered compared to twenty nineteen levels.

497
00:28:50,920 --> 00:28:53,120
Speaker 1: That's a big deal because their previous view with seventy

498
00:28:53,160 --> 00:28:56,840
Speaker 1: two seventy six. But that news is pulling up Delta shares.

499
00:28:56,920 --> 00:28:59,040
Speaker 1: D A L is your taker up one point one

500
00:28:59,120 --> 00:29:01,520
Speaker 1: percent in the pre market. It's also pulling up the

501
00:29:01,640 --> 00:29:04,640
Speaker 1: other airlines with the Southwest, for example, Luvs your taker

502
00:29:04,760 --> 00:29:07,320
Speaker 1: up one percent in the pre market. U A L's

503
00:29:07,360 --> 00:29:10,440
Speaker 1: for United up seven tenths of one percent. Even American

504
00:29:10,480 --> 00:29:12,000
Speaker 1: Airline is catching a little bit of a bid here,

505
00:29:12,280 --> 00:29:14,520
Speaker 1: up four tenths of a percent. A L is your

506
00:29:14,560 --> 00:29:17,280
Speaker 1: taker there, that's unusual on a day that's pretty risk

507
00:29:17,280 --> 00:29:20,240
Speaker 1: off to see the airline is actually outperforming. Also, keep

508
00:29:20,240 --> 00:29:21,760
Speaker 1: in mind you are seeing some moves to the upside

509
00:29:21,760 --> 00:29:23,960
Speaker 1: in the defense spaces. A Lackeed Martin l m T

510
00:29:24,120 --> 00:29:26,400
Speaker 1: s your taker up four tenths of a percent. This

511
00:29:26,520 --> 00:29:29,360
Speaker 1: looks like it continued bid from yesterday after Germany said

512
00:29:29,400 --> 00:29:33,320
Speaker 1: it would purchase Lockeed Martin's F thirty five warplanes as

513
00:29:33,400 --> 00:29:35,560
Speaker 1: well as fifteen eurofighters. Of course, we know it is

514
00:29:35,640 --> 00:29:39,720
Speaker 1: upgrading its military response, creating a budget of a hundred

515
00:29:39,800 --> 00:29:43,200
Speaker 1: and ten billion dollars to modernize its armed forces, of

516
00:29:43,320 --> 00:29:45,920
Speaker 1: course on the back of Russia's invasion of Ukraine. So

517
00:29:45,960 --> 00:29:48,680
Speaker 1: you are seeing those defense names take a leg higher

518
00:29:48,720 --> 00:29:50,440
Speaker 1: as well. L M T. Like you said, up four

519
00:29:50,520 --> 00:29:53,160
Speaker 1: tenths of a percent. But then there are some downside stories,

520
00:29:53,200 --> 00:29:55,480
Speaker 1: and we should stick to this. Those downside stories, for example,

521
00:29:55,520 --> 00:29:57,920
Speaker 1: are a lot of the oil company's occidental o s

522
00:29:58,040 --> 00:30:00,400
Speaker 1: Y is your worst performer this morning, down four point

523
00:30:00,480 --> 00:30:02,480
Speaker 1: nine percent, and with it some of those other oil

524
00:30:02,560 --> 00:30:04,840
Speaker 1: names This really comes back on the idea of lower

525
00:30:04,880 --> 00:30:07,880
Speaker 1: oil prices, perhaps coming back on the idea of the

526
00:30:08,040 --> 00:30:11,520
Speaker 1: China lockdown in shenz En. Yeah, nine crew this morning,

527
00:30:13,360 --> 00:30:17,120
Speaker 1: hundred dollars of barrel. Ugly morning, overnight in the Asian session.

528
00:30:17,880 --> 00:30:20,080
Speaker 1: Very ugly morning. And then once again it comes down

529
00:30:20,160 --> 00:30:23,040
Speaker 1: to those COVID restrictions that they're putting in the zero

530
00:30:23,080 --> 00:30:25,160
Speaker 1: COVID policy. It also comes down with some kind of

531
00:30:25,200 --> 00:30:28,000
Speaker 1: concerns that perhaps China is the next country to be

532
00:30:28,080 --> 00:30:30,120
Speaker 1: sanctioned just because of their ties to Russia. And you're

533
00:30:30,120 --> 00:30:32,720
Speaker 1: seeing that show up in those US listed Chinese stocks,

534
00:30:33,160 --> 00:30:35,200
Speaker 1: the likes of Ali Baba, for example, be a b

535
00:30:35,360 --> 00:30:37,040
Speaker 1: as your taker for the A d r s down

536
00:30:37,280 --> 00:30:39,360
Speaker 1: six and a half percent in the pre market. J

537
00:30:39,560 --> 00:30:41,960
Speaker 1: D as well. J D is also the taker, also

538
00:30:42,000 --> 00:30:43,840
Speaker 1: declining four and a half percent. So keep an eye

539
00:30:43,920 --> 00:30:45,440
Speaker 1: on those A d r s. That's where you're seeing

540
00:30:45,480 --> 00:30:47,880
Speaker 1: a lot of pain. Yeah, we were asking the question

541
00:30:48,080 --> 00:30:51,680
Speaker 1: m live, I should say, was asking the questions former employer. Yeah,

542
00:30:52,080 --> 00:30:55,120
Speaker 1: and uh, we're all the dip buyers because they've jumped

543
00:30:55,120 --> 00:30:58,200
Speaker 1: in since and so you know, one of the questions

544
00:30:58,320 --> 00:31:02,040
Speaker 1: to mold this morning as the Aztec features turned green

545
00:31:02,200 --> 00:31:05,800
Speaker 1: up twelve points right now, pretty Gupta from our markets team,

546
00:31:06,280 --> 00:31:10,240
Speaker 1: SMP futures right now two points lower, and the nastack

547
00:31:10,360 --> 00:31:12,280
Speaker 1: of the Dow futures right now hearing some of those

548
00:31:12,320 --> 00:31:15,800
Speaker 1: earlier losses right now down forty nine points. You're listening

549
00:31:15,840 --> 00:31:23,760
Speaker 1: to Bloomberg Daybreak at Bloomberg Weatherport that day, Ron Caroline

550
00:31:23,800 --> 00:31:27,040
Speaker 1: privately to mostly sunny behind temperature chopping out at about

551
00:31:27,080 --> 00:31:32,000
Speaker 1: sixty degrees. Barrenstler, mostly sunny and warm behind temperature about

552
00:31:32,080 --> 00:31:39,080
Speaker 1: sixty blind degrees. This is Bloomberg Markets headlines and breaking

553
00:31:39,120 --> 00:31:41,960
Speaker 1: news twenty four hours a day at Bloomberg dot Com,

554
00:31:42,120 --> 00:31:45,760
Speaker 1: the Bloomberg Business and at Bloomberg Quick Take, He's a

555
00:31:45,840 --> 00:31:55,520
Speaker 1: Bloomberg Business clash and I'm paren Moscow and US stock

556
00:31:55,560 --> 00:32:00,240
Speaker 1: index futures have trimmed their declines, with Nastack futures even

557
00:32:00,400 --> 00:32:02,800
Speaker 1: moving into positive territory. We go to the first word

558
00:32:02,880 --> 00:32:06,080
Speaker 1: breaking news dance for today's morning call. Here's Bill Maloney, Bill,

559
00:32:06,120 --> 00:32:10,000
Speaker 1: good morning, Hey, good morning, Karen. Us features are quiet

560
00:32:10,120 --> 00:32:12,400
Speaker 1: right now with death futures down fifty one point says

561
00:32:12,440 --> 00:32:14,200
Speaker 1: to be drop three. But like you said, Nest, that

562
00:32:14,280 --> 00:32:17,400
Speaker 1: futures in the Green now a twelve, the US a

563
00:32:17,480 --> 00:32:19,920
Speaker 1: ten year old at two point one percent. Gold is

564
00:32:20,000 --> 00:32:23,480
Speaker 1: down twenty Oil is also sinking, but bitcoin is trading

565
00:32:23,520 --> 00:32:27,360
Speaker 1: little changed. Hong Kong fell five point seven percent overnight.

566
00:32:27,560 --> 00:32:29,840
Speaker 1: The up markets are also in the red this morning,

567
00:32:30,200 --> 00:32:32,080
Speaker 1: and back in the US. On the economic front at

568
00:32:32,120 --> 00:32:35,840
Speaker 1: a thirty, Empire Manufacturing and February p p I. In

569
00:32:36,000 --> 00:32:39,480
Speaker 1: other news, Tesla raised prices on all its vehicles and

570
00:32:39,640 --> 00:32:43,160
Speaker 1: wrapping things up. Pelton was rated a new outperform at Bernstein,

571
00:32:43,440 --> 00:32:46,480
Speaker 1: while Mosaic was raised to buy O. Breck Goldman Sachs

572
00:32:47,040 --> 00:32:49,400
Speaker 1: live from the first of Breaking News desk on Bill Maloney.

573
00:32:49,480 --> 00:32:51,480
Speaker 1: Care all right, Bill, thank you to hear live breaking

574
00:32:51,520 --> 00:32:54,200
Speaker 1: news over your bloombergy type squawk on your terminal. SCU

575
00:32:54,320 --> 00:32:56,680
Speaker 1: you a w u K, that's a Bloomberg business flash.

576
00:32:56,760 --> 00:32:58,880
Speaker 1: Now here's Michael Barr with more on what's going on

577
00:32:59,000 --> 00:33:01,880
Speaker 1: around the world month, Karen, thank you very much. China's

578
00:33:01,880 --> 00:33:05,400
Speaker 1: Foreign ministers says his country wants to avoid being impacted

579
00:33:05,840 --> 00:33:09,760
Speaker 1: by US sanctions over Russia's war, when Ye says China

580
00:33:09,920 --> 00:33:12,160
Speaker 1: is not a party to the crisis, nor does it

581
00:33:12,360 --> 00:33:15,600
Speaker 1: want the sanctions to affect China he spoke in a

582
00:33:15,680 --> 00:33:18,480
Speaker 1: phone call with the Spanish counterpart to discuss the war

583
00:33:18,520 --> 00:33:22,480
Speaker 1: in Ukraine. There are concerns among investors that Chinese companies

584
00:33:22,600 --> 00:33:26,640
Speaker 1: will face US sanctions after American officials said Russia requested

585
00:33:26,720 --> 00:33:30,360
Speaker 1: military and financial assistance from Beijing. The White House is

586
00:33:30,400 --> 00:33:33,360
Speaker 1: said to be discussing President Joe Biden making a visit

587
00:33:33,440 --> 00:33:37,960
Speaker 1: to unspecified destinations in Europe while Russia's war on Ukraine

588
00:33:38,040 --> 00:33:41,520
Speaker 1: is ongoing. Biden and his administration have sought to reassure

589
00:33:41,600 --> 00:33:45,200
Speaker 1: NATO allies that they have US backing. In the NBA,

590
00:33:45,320 --> 00:33:48,880
Speaker 1: The Warriors beat the Wizards one one twelve Global News

591
00:33:49,000 --> 00:33:51,800
Speaker 1: twenty four hours a day on air and on Bloomberg

592
00:33:51,880 --> 00:33:55,000
Speaker 1: Quick Take, powered by more than twenty seven under journalists

593
00:33:55,000 --> 00:33:57,320
Speaker 1: and analysts in more than a hundred twenty countries. I'm

594
00:33:57,320 --> 00:34:02,200
Speaker 1: Michael Barr, this is Bloomberg. The following commentaries from Bloomberg Opinion.

595
00:34:02,880 --> 00:34:05,680
Speaker 1: Treasuries aren't the haven they used to be. I'm Alexis

596
00:34:05,760 --> 00:34:09,680
Speaker 1: Leondest a calmness for Bloomberg Opinion. While more sanguine investors

597
00:34:09,760 --> 00:34:12,000
Speaker 1: have been buying the dip, helping to buoy the U

598
00:34:12,120 --> 00:34:14,320
Speaker 1: S stock market, some of those who are risk of

599
00:34:14,360 --> 00:34:18,320
Speaker 1: first retreated to safety, temporarily pumping up the US government

600
00:34:18,360 --> 00:34:21,400
Speaker 1: bond market. If anything, the past two weeks have been

601
00:34:21,440 --> 00:34:24,600
Speaker 1: a tug of war between investors desire for safe haven

602
00:34:24,920 --> 00:34:29,200
Speaker 1: and their concerns about inflation. For most retail investors, including

603
00:34:29,239 --> 00:34:31,840
Speaker 1: those with retirement on the horizon, I don't see how

604
00:34:31,880 --> 00:34:35,319
Speaker 1: adding US government bonds makes much sense right now. If

605
00:34:35,360 --> 00:34:37,719
Speaker 1: it's security you're after, you might as well stick with

606
00:34:37,800 --> 00:34:40,600
Speaker 1: a federally insured high yield savings account or the like.

607
00:34:41,320 --> 00:34:43,919
Speaker 1: And if you want more income like returns, then you'd

608
00:34:43,960 --> 00:34:46,400
Speaker 1: be better off considering other parts of the bond market,

609
00:34:46,600 --> 00:34:50,200
Speaker 1: such as corporate debt. For the last forty years, government

610
00:34:50,239 --> 00:34:53,919
Speaker 1: bonds helped investors sleep well and eat well. Those days

611
00:34:53,960 --> 00:34:56,760
Speaker 1: seemed to be coming to an end. I'm Alexis Leondest.

612
00:34:56,960 --> 00:34:59,600
Speaker 1: For more opinion, please go to Bloomberg dot com slash

613
00:34:59,640 --> 00:35:02,520
Speaker 1: opinion in or OPI and go on the Bloomberg terminal.

614
00:35:02,800 --> 00:35:07,120
Speaker 1: These has been Bloomberg Opinion Opinion commentaries can be heard

615
00:35:07,160 --> 00:35:09,919
Speaker 1: every weekday at this time, and terminal customers can read

616
00:35:10,000 --> 00:35:12,440
Speaker 1: more at O P I N go. It is six

617
00:35:12,560 --> 00:35:15,040
Speaker 1: fifty on Wall Street. Let's turn to news and science

618
00:35:15,080 --> 00:35:17,279
Speaker 1: and technology now at the Bloomberg and j I T

619
00:35:17,440 --> 00:35:20,200
Speaker 1: STEM report brought to you buy New Jersey Institute of

620
00:35:20,320 --> 00:35:23,719
Speaker 1: Technology ranked in the top two percent nationally for alumni

621
00:35:23,800 --> 00:35:25,960
Speaker 1: mid career earnings and number one in the nation for

622
00:35:26,080 --> 00:35:29,040
Speaker 1: student upward economic mobility. More at n j I T

623
00:35:29,239 --> 00:35:33,040
Speaker 1: dot e du now Here's the Speaking News and Science, Technology, engineering,

624
00:35:33,120 --> 00:35:36,000
Speaker 1: and math. Lockdowns aimed at stemming the spread of the

625
00:35:36,040 --> 00:35:39,279
Speaker 1: coronavirus in China are disrupting the operations of a number

626
00:35:39,360 --> 00:35:43,440
Speaker 1: of businesses. Apple supplier Han Highest stopping production at its

627
00:35:43,520 --> 00:35:47,320
Speaker 1: sites in Shenzhen. Toyota and Volkswagen also have halted output

628
00:35:47,400 --> 00:35:50,600
Speaker 1: at several factories. The lockdown's effect more than forty five

629
00:35:50,760 --> 00:35:54,719
Speaker 1: million people. Orders placed with global e commerce platforms like

630
00:35:54,800 --> 00:35:58,400
Speaker 1: Amazon and Walmart may also be delayed by virus lockdowns

631
00:35:58,440 --> 00:36:02,239
Speaker 1: and restrictions in some of china is key manufacturing hubs. Shenzen,

632
00:36:02,320 --> 00:36:05,160
Speaker 1: the home to around half of all the online retail

633
00:36:05,239 --> 00:36:07,879
Speaker 1: export is in China, was locked down for at least

634
00:36:07,920 --> 00:36:10,920
Speaker 1: a week, and nearby dong Juan, a key Chinese hub

635
00:36:11,000 --> 00:36:14,360
Speaker 1: for the manufacturer of shoes, toys, and textiles, factories in

636
00:36:14,480 --> 00:36:16,800
Speaker 1: areas where there are virus cases and being told the

637
00:36:16,880 --> 00:36:21,040
Speaker 1: clothes and schools and restaurants are effectively shuttered. And in

638
00:36:21,120 --> 00:36:25,040
Speaker 1: the UK, London's Heathrow Airport, British Airways and Virgin Atlantic

639
00:36:25,120 --> 00:36:29,800
Speaker 1: are dropping mask requirements Heathrows restrictions, and tomorrow the airlines

640
00:36:29,840 --> 00:36:32,919
Speaker 1: will no longer require mass on flights to destinations where

641
00:36:32,960 --> 00:36:36,719
Speaker 1: their use is no longer mandated. Most pandemic related rules

642
00:36:36,760 --> 00:36:40,040
Speaker 1: in England were dropped last month. That's the Bloomberg and J. A. T.

643
00:36:40,200 --> 00:36:43,000
Speaker 1: Stem Report. John Karen, thank you. We're lying for the

644
00:36:43,000 --> 00:36:46,480
Speaker 1: Bloomberg Interact to Broker Studios where idiots six fifty two

645
00:36:46,560 --> 00:36:48,640
Speaker 1: on Wall Street, and that means it's time to check

646
00:36:48,680 --> 00:36:51,319
Speaker 1: what's going on in d C. Some of the top

647
00:36:51,400 --> 00:36:53,879
Speaker 1: stories our nation's capital include, of course, the White House

648
00:36:53,960 --> 00:36:57,400
Speaker 1: calling up Beijing to use its influence with Moscow to

649
00:36:57,520 --> 00:36:59,920
Speaker 1: help hand the war in Ukraine, China says at one

650
00:37:00,000 --> 00:37:03,040
Speaker 1: to avoid US sanctions, the U S. Warren's Europe that

651
00:37:03,239 --> 00:37:07,600
Speaker 1: Russia once armed drones from China, and then President Biden

652
00:37:07,719 --> 00:37:11,400
Speaker 1: hit with a mansion roadblock once again. Let's take a

653
00:37:11,480 --> 00:37:13,360
Speaker 1: deeper dive into some of these stories this morning with

654
00:37:13,440 --> 00:37:17,480
Speaker 1: Bloomberg's Joe Matthew, host of Sound on who Joins Us

655
00:37:17,520 --> 00:37:19,920
Speaker 1: now we're gonna have to mash some of these stories together.

656
00:37:20,200 --> 00:37:23,400
Speaker 1: So what's the latest from the nation's capital with respect

657
00:37:23,480 --> 00:37:27,560
Speaker 1: to China, Russia and Russia's war on Ukraine. Joe, Well,

658
00:37:27,640 --> 00:37:30,279
Speaker 1: there's a lot there, John, an important meeting yesterday with

659
00:37:30,360 --> 00:37:33,360
Speaker 1: Jake Sullivan, our National security advisor. He sat down with

660
00:37:33,520 --> 00:37:37,520
Speaker 1: his counterparts, that's hop diplomat from China, a big meeting

661
00:37:37,640 --> 00:37:40,840
Speaker 1: in Rome. They met in neutral territory. Can you imagine

662
00:37:40,920 --> 00:37:45,680
Speaker 1: for seven hours despite being in the same room feasibly

663
00:37:45,800 --> 00:37:48,080
Speaker 1: for seven hours and what was discussed. The White House

664
00:37:48,160 --> 00:37:50,960
Speaker 1: gave us very little in the readout from this meeting.

665
00:37:51,360 --> 00:37:55,640
Speaker 1: Essentially the US telling China there will be severe consequences.

666
00:37:55,719 --> 00:37:58,000
Speaker 1: That is the that's the phrase we keep hearing from

667
00:37:58,040 --> 00:38:02,600
Speaker 1: the administration. Should China to help Russia in this war.

668
00:38:02,840 --> 00:38:06,680
Speaker 1: This follows reports, John, to your point earlier that Russia

669
00:38:06,760 --> 00:38:09,520
Speaker 1: had asked China for some help in what they like

670
00:38:09,719 --> 00:38:13,800
Speaker 1: to call this special operation. But uh, this was knocked

671
00:38:13,840 --> 00:38:16,359
Speaker 1: down very quickly by Moscow says they never asked China

672
00:38:16,719 --> 00:38:23,120
Speaker 1: for money or arms in the war against Ukraine. So well, exactly,

673
00:38:23,520 --> 00:38:25,360
Speaker 1: so we had the meeting here that it was you know,

674
00:38:25,480 --> 00:38:28,000
Speaker 1: some things needed to be said, Uh, not just in

675
00:38:28,200 --> 00:38:30,680
Speaker 1: terms of what not to do, but I think the

676
00:38:30,800 --> 00:38:33,840
Speaker 1: US is really hoping that Beijing finds itself in a

677
00:38:33,960 --> 00:38:36,520
Speaker 1: situation where it might even help. And wouldn't that be

678
00:38:36,600 --> 00:38:39,319
Speaker 1: a different look for China. Following what we saw during

679
00:38:39,360 --> 00:38:42,719
Speaker 1: the Olympics, Vladimir Putin President She standing side by side,

680
00:38:42,760 --> 00:38:45,359
Speaker 1: the big handshake, and what they described John then as

681
00:38:45,400 --> 00:38:48,400
Speaker 1: an unlimited relationship, it looks like there might be some

682
00:38:48,560 --> 00:38:52,520
Speaker 1: major limits on that relationship going forward. Is Joe Biden

683
00:38:52,600 --> 00:38:55,840
Speaker 1: had to Europe to show support for the sanctions and

684
00:38:55,920 --> 00:38:59,279
Speaker 1: the European allies, that's the word. The question is where

685
00:38:59,320 --> 00:39:02,040
Speaker 1: and when? Uh. There is a thought that it could

686
00:39:02,080 --> 00:39:03,600
Speaker 1: be as soon as next week that he would go

687
00:39:03,680 --> 00:39:06,640
Speaker 1: to Brussels, maybe even to eastern Europe, to a country

688
00:39:06,719 --> 00:39:09,160
Speaker 1: like Poland, where we have thousands of American troops that

689
00:39:09,239 --> 00:39:13,000
Speaker 1: have recently arrived and helping to to untangle this humanitarian

690
00:39:13,080 --> 00:39:16,200
Speaker 1: disaster that's underway there. This would be a big show

691
00:39:16,440 --> 00:39:20,760
Speaker 1: of support, a big uh, presentation of power, a projection

692
00:39:20,800 --> 00:39:23,120
Speaker 1: of power for the United States President to show up

693
00:39:23,160 --> 00:39:25,719
Speaker 1: in Europe at this very time. And it comes as

694
00:39:25,800 --> 00:39:29,160
Speaker 1: we learned that the Prime Minister from Poland his counterparts

695
00:39:29,560 --> 00:39:31,759
Speaker 1: in the Czech Republic and Slovakia are going to be

696
00:39:31,800 --> 00:39:34,680
Speaker 1: headed to Ukraine today to do the same thing. Yeah,

697
00:39:34,760 --> 00:39:39,160
Speaker 1: via a train to Kiev. Um. Also the Ukraine president

698
00:39:39,800 --> 00:39:43,080
Speaker 1: kind of coming to Washington at least virtually. Yeah. Yeah,

699
00:39:43,120 --> 00:39:45,520
Speaker 1: it's gonna be the big show tomorrow. Um, he's gonna

700
00:39:45,520 --> 00:39:48,320
Speaker 1: be speaking to Congress essentially a joint session. They're not

701
00:39:48,320 --> 00:39:49,840
Speaker 1: going to be in the House chamber. They'll they'll have

702
00:39:50,120 --> 00:39:53,080
Speaker 1: an auditorium set aside in the Capital Complex for this

703
00:39:53,160 --> 00:39:55,400
Speaker 1: because it will be a virtual address. It's that's supposed

704
00:39:55,400 --> 00:39:58,640
Speaker 1: to be about nine o'clock tomorrow morning. And interesting, John,

705
00:39:58,680 --> 00:40:00,920
Speaker 1: you're just gonna say thank you have, by the way,

706
00:40:01,040 --> 00:40:05,239
Speaker 1: met privately, virtually, but privately with lawmakers last weekend, two

707
00:40:05,280 --> 00:40:08,160
Speaker 1: weekends ago. This is gonna be provided to the networks.

708
00:40:08,200 --> 00:40:10,320
Speaker 1: It's gonna be streamed online. People are gonna watch this

709
00:40:10,440 --> 00:40:13,040
Speaker 1: on TV. So his audience is very different now as

710
00:40:13,080 --> 00:40:15,800
Speaker 1: he tries to make the case for more military hardware

711
00:40:16,120 --> 00:40:18,080
Speaker 1: if not a no fly zone, and so far the

712
00:40:18,160 --> 00:40:21,400
Speaker 1: answer from the Pentagon on that one has been no. Hey, Um,

713
00:40:21,560 --> 00:40:24,239
Speaker 1: I'll go off script because I can with you. How

714
00:40:24,320 --> 00:40:27,960
Speaker 1: does this play domestically with mid term elections coming up.

715
00:40:28,440 --> 00:40:31,040
Speaker 1: That's a great question. You know. The conventional wisdom always, John,

716
00:40:31,120 --> 00:40:35,040
Speaker 1: is that voters don't cast votes based on foreign affairs,

717
00:40:35,440 --> 00:40:37,200
Speaker 1: might be a little bit different this time. The way

718
00:40:37,280 --> 00:40:40,279
Speaker 1: that the President Biden is comporting himself, the way that

719
00:40:40,400 --> 00:40:43,839
Speaker 1: he has helped a unite NATO, has been actually well

720
00:40:43,960 --> 00:40:46,640
Speaker 1: received in terms of the polling that we've seen, the

721
00:40:46,719 --> 00:40:48,640
Speaker 1: limited polling that we've seen since the beginning of this.

722
00:40:48,800 --> 00:40:50,920
Speaker 1: Republicans are really hitting him hard though, on how come

723
00:40:50,960 --> 00:40:53,279
Speaker 1: we're not giving him the MiGs, the fighter jets. How

724
00:40:53,360 --> 00:40:56,319
Speaker 1: come we ended up in this situation where we need

725
00:40:56,400 --> 00:40:59,120
Speaker 1: for an oil. It's very difficult to see how these

726
00:40:59,160 --> 00:41:02,800
Speaker 1: issues will distill themselves before we get into a voting season.

727
00:41:02,840 --> 00:41:04,480
Speaker 1: We've had a lot of time between now and then.

728
00:41:04,560 --> 00:41:07,080
Speaker 1: But certainly the way the decisions that are being made

729
00:41:07,120 --> 00:41:09,520
Speaker 1: now by this White House will be judged in the election.

730
00:41:09,880 --> 00:41:12,719
Speaker 1: Or is the pleasure Bloomberg's Joe Matthew, host of Sound On.

731
00:41:12,880 --> 00:41:17,760
Speaker 1: You can hear on Bloomberg Radio's weekdays starting at five pm. Karen,

732
00:41:18,120 --> 00:41:20,680
Speaker 1: all right, John, thank you, six fifty six on Wall Street.

733
00:41:20,760 --> 00:41:23,480
Speaker 1: This is Bloombergy Day, where I get marches Women's History

734
00:41:23,640 --> 00:41:26,800
Speaker 1: Month and every day this month, we're celebrating significant moments

735
00:41:26,840 --> 00:41:30,000
Speaker 1: in women's history. Now with your installment for March fifteen.

736
00:41:30,360 --> 00:41:33,640
Speaker 1: Here's Bloomberg's need too Young on this day in women's history.

737
00:41:33,719 --> 00:41:37,440
Speaker 1: In nineteen forty six, former First Lady Eleanor Roosevelt is

738
00:41:37,480 --> 00:41:42,200
Speaker 1: appointed US Representative to the United Nations. President Harry Truman

739
00:41:42,320 --> 00:41:46,960
Speaker 1: appointed her. Roosevelt contributed greatly to you and policymaking, serving

740
00:41:47,040 --> 00:41:49,840
Speaker 1: as Chair of the Human Rights Commission. She was the

741
00:41:49,920 --> 00:41:52,479
Speaker 1: only woman serving on the sixth person delegation that would

742
00:41:52,520 --> 00:41:56,560
Speaker 1: eventually produced the Universal Declaration of Human Rights in December

743
00:41:56,680 --> 00:42:01,319
Speaker 1: Night Now. Because of Roosevelt's massive contributions two international human

744
00:42:01,440 --> 00:42:04,520
Speaker 1: rights and law, President Truman would later call her the

745
00:42:04,640 --> 00:42:08,200
Speaker 1: First Lady of the World. Roosevelt served in this position

746
00:42:08,360 --> 00:42:12,319
Speaker 1: until nineteen fifty two. That's today in women's history. I'm

747
00:42:12,440 --> 00:42:16,239
Speaker 1: Rnita Young Bloomberg Radio. All right, Rnita, thank you. And

748
00:42:16,640 --> 00:42:20,600
Speaker 1: futures this morning they have turned higher. SNP futures up

749
00:42:20,640 --> 00:42:24,600
Speaker 1: about eight points, DAL futures up twenty nine, and nasdeg

750
00:42:24,719 --> 00:42:28,000
Speaker 1: futures up forty four. This is after they were lower

751
00:42:28,080 --> 00:42:30,680
Speaker 1: for much of the morning. Ten year treasury up five

752
00:42:30,760 --> 00:42:33,880
Speaker 1: thirty seconds. Yell two point one one percent, and they

753
00:42:33,960 --> 00:42:36,320
Speaker 1: yelled on the two year one point eight two percent

754
00:42:36,440 --> 00:42:39,720
Speaker 1: and nine mex frude oil is down five point eight percent,

755
00:42:39,840 --> 00:42:43,279
Speaker 1: and Bloomberg surveillance is straight ahead. For John Tucker, I'm

756
00:42:43,400 --> 00:42:54,160
Speaker 1: Karen Moscow and this is Bloomberg Markets headlines and breaking

757
00:42:54,200 --> 00:42:57,080
Speaker 1: news twenty four hours a day at Bloomberg dot Com,

758
00:42:57,239 --> 00:43:01,440
Speaker 1: the Bloomberg Business Outland, at Bloomberg Quickta, He's a Bloomberg

759
00:43:01,520 --> 00:43:10,960
Speaker 1: Business lash and I'm Karen Moscow. And US dock index

760
00:43:11,040 --> 00:43:15,720
Speaker 1: futures have trimmed their declines, with nastag futures even moving

761
00:43:15,760 --> 00:43:18,680
Speaker 1: into positive territory because to the first word breaking news dance.

762
00:43:18,760 --> 00:43:21,600
Speaker 1: For today's morning call, here's Bill Maloney, Bill, good morning,

763
00:43:22,520 --> 00:43:25,440
Speaker 1: and good morning, Karen. US features are quiet right now

764
00:43:25,560 --> 00:43:27,640
Speaker 1: with doubt futures down fifty one point says to be

765
00:43:27,760 --> 00:43:29,880
Speaker 1: drop three, but like you said, NaSTA futures in the

766
00:43:29,920 --> 00:43:33,160
Speaker 1: green now up twelve. The US ten year old that

767
00:43:33,320 --> 00:43:36,239
Speaker 1: two point one percent. Gold is down twenty Oil is

768
00:43:36,280 --> 00:43:40,120
Speaker 1: also sinking, but bitcoin is trading little changed. Hong Kong

769
00:43:40,280 --> 00:43:43,640
Speaker 1: fell five point seven percent overnight, wh Up markets are

770
00:43:43,680 --> 00:43:45,759
Speaker 1: also in the red this morning, and back in the

771
00:43:45,880 --> 00:43:48,759
Speaker 1: US on the economic front, at a thirty Empire Manufacturing

772
00:43:48,880 --> 00:43:52,200
Speaker 1: and February p p I. In other news, Tesla raised

773
00:43:52,280 --> 00:43:55,960
Speaker 1: prices on all its vehicles and wrapping things up. Peloton

774
00:43:56,160 --> 00:43:59,279
Speaker 1: was rated a new outperform at Bernstein, while Mosaic was

775
00:43:59,360 --> 00:44:03,440
Speaker 1: raised to boy Overcleman Sacks. Live from First of Breaking News,

776
00:44:03,520 --> 00:44:06,040
Speaker 1: Descomb Maloney care, all right, Phil, thank you to hear

777
00:44:06,080 --> 00:44:08,440
Speaker 1: live breaking news over your Bloomberg type squawk on your

778
00:44:08,560 --> 00:44:11,920
Speaker 1: terminal SCU A WUK, that's a Bloomberg business flash. Now

779
00:44:12,000 --> 00:44:14,319
Speaker 1: here's Michael Barr with Moore on what's going on around

780
00:44:14,360 --> 00:44:17,240
Speaker 1: the world. Michael Karen, thank you very much. China's Foreign

781
00:44:17,239 --> 00:44:21,040
Speaker 1: ministers says his country wants to avoid being impacted by

782
00:44:21,239 --> 00:44:24,840
Speaker 1: U S sanctions over Russia's war. When Ye says China

783
00:44:25,000 --> 00:44:27,239
Speaker 1: is not a party to the prices, nor does it

784
00:44:27,400 --> 00:44:30,680
Speaker 1: want the sanctions to affect China. He spoke in a

785
00:44:30,760 --> 00:44:33,520
Speaker 1: phone call with the Spanish counterpart to discuss the war

786
00:44:33,600 --> 00:44:37,520
Speaker 1: in Ukraine. There are concerns among investors that Chinese companies

787
00:44:37,680 --> 00:44:41,719
Speaker 1: will face US sanctions after American officials said Russia requested

788
00:44:41,800 --> 00:44:45,440
Speaker 1: military and financial assistance from Beijing. The White House is

789
00:44:45,440 --> 00:44:48,439
Speaker 1: said to be discussing President Joe Biden making a visit

790
00:44:48,520 --> 00:44:53,040
Speaker 1: to unspecified destinations in Europe. While Russia's war on Ukraine

791
00:44:53,120 --> 00:44:56,560
Speaker 1: is ongoing. Biden and his administration have sought to reassure

792
00:44:56,680 --> 00:45:00,279
Speaker 1: NATO allies that they have US backing in the BA

793
00:45:00,400 --> 00:45:04,320
Speaker 1: The Warriors beat the Wizards. One twelve Global News twenty

794
00:45:04,360 --> 00:45:07,439
Speaker 1: four hours a day on air and on Bloomberg Quick Take,

795
00:45:07,760 --> 00:45:10,600
Speaker 1: powered by more than twenty seven under journalists and analysts

796
00:45:10,719 --> 00:45:13,800
Speaker 1: in more than twenty countries. I'm Michael Barr. This is Bloomberg.

797
00:45:14,400 --> 00:45:18,759
Speaker 1: The following commentary is from Bloomberg Opinion. Treasuries aren't the

798
00:45:18,840 --> 00:45:21,800
Speaker 1: haven they used to be. I'm Alexis leondest a calmness

799
00:45:21,880 --> 00:45:25,439
Speaker 1: for Bloomberg Opinion. While more sanguine investors have been buying

800
00:45:25,480 --> 00:45:27,880
Speaker 1: the dip, helping to bully the U S stock market,

801
00:45:28,280 --> 00:45:30,720
Speaker 1: some of those who are risk of first retreated to safety,

802
00:45:31,120 --> 00:45:35,080
Speaker 1: temporarily pumping up the US government bond market. If anything,

803
00:45:35,440 --> 00:45:37,160
Speaker 1: the past two weeks have been a tug of war

804
00:45:37,480 --> 00:45:41,640
Speaker 1: between investors desire for safe haven and their concerns about inflation.

805
00:45:42,239 --> 00:45:45,760
Speaker 1: For most retail investors, including those with retirement on the horizon,

806
00:45:46,239 --> 00:45:48,960
Speaker 1: I don't see how adding US government bonds makes much

807
00:45:49,040 --> 00:45:52,120
Speaker 1: sense right now. If it's security or after, you might

808
00:45:52,200 --> 00:45:54,920
Speaker 1: as well stick with a federally insured high yield savings

809
00:45:54,960 --> 00:45:57,520
Speaker 1: account or the like. And if you want more income

810
00:45:57,600 --> 00:46:00,640
Speaker 1: like returns, then you'd be better off consider other parts

811
00:46:00,680 --> 00:46:03,480
Speaker 1: of the bond market, such as corporate debt. For the

812
00:46:03,600 --> 00:46:07,400
Speaker 1: last forty years, government bonds helped investors sleep well and

813
00:46:07,600 --> 00:46:10,239
Speaker 1: eat well. Those days seemed to be coming to an end.

814
00:46:10,680 --> 00:46:13,680
Speaker 1: I'm lexis Leanest. For more opinion, please go to Bloomberg

815
00:46:13,760 --> 00:46:16,680
Speaker 1: dot com, slash opinion or opi and go on the

816
00:46:16,719 --> 00:46:21,839
Speaker 1: Bloomberg terminal. These has been Bloomberg Opinion Opinion commentaries can

817
00:46:21,880 --> 00:46:24,560
Speaker 1: be heard every weekday at this time and terminal customers

818
00:46:24,640 --> 00:46:27,239
Speaker 1: can read more at O P I N go at

819
00:46:27,239 --> 00:46:29,600
Speaker 1: it six fifty on Wall Street. Let's turn to news

820
00:46:29,680 --> 00:46:32,000
Speaker 1: and science and technology now at the Bloomberg and j

821
00:46:32,160 --> 00:46:34,720
Speaker 1: I T STEM Report, brought to you by New Jersey

822
00:46:34,800 --> 00:46:37,880
Speaker 1: Institute of Technology, ranked in the top two percent nationally

823
00:46:38,160 --> 00:46:40,600
Speaker 1: for alumni mid career earnings and number one in the

824
00:46:40,680 --> 00:46:43,759
Speaker 1: nation for student upward economic mobility. More at n j

825
00:46:43,920 --> 00:46:47,560
Speaker 1: I T dot E DU. Now Here's inspecting news and science, technology,

826
00:46:47,600 --> 00:46:51,000
Speaker 1: engineering and math lockdowns aimed at stemming the spread of

827
00:46:51,040 --> 00:46:53,960
Speaker 1: the coronavirus in China are disrupting the operations of a

828
00:46:54,080 --> 00:46:58,359
Speaker 1: number of businesses. Apple supplier Han Highest stopping production at

829
00:46:58,400 --> 00:47:02,040
Speaker 1: its sites in Shenzhen. Toyota and Volkswagen also have halted

830
00:47:02,040 --> 00:47:05,400
Speaker 1: output at several factories. The lockdown's effect more than forty

831
00:47:05,480 --> 00:47:09,680
Speaker 1: five million people orders placed with global e commerce platforms

832
00:47:09,760 --> 00:47:12,840
Speaker 1: like Amazon and Walmart. They also be delayed by virus

833
00:47:12,960 --> 00:47:17,320
Speaker 1: lockdowns and restrictions in some of China's key manufacturing hubs. Shenzen,

834
00:47:17,400 --> 00:47:20,240
Speaker 1: the home to around half of all the online retail

835
00:47:20,280 --> 00:47:23,319
Speaker 1: exporters in China, was locked down for at least a week,

836
00:47:23,560 --> 00:47:26,239
Speaker 1: and nearby dong Juan, a key Chinese hub for the

837
00:47:26,400 --> 00:47:30,080
Speaker 1: manufacturer of shoes, toys and textiles. Factories in areas where

838
00:47:30,120 --> 00:47:32,719
Speaker 1: there are virus cases have been told the clothes and

839
00:47:32,800 --> 00:47:36,560
Speaker 1: schools and restaurants are effectively shuttered. And in the UK,

840
00:47:36,800 --> 00:47:40,840
Speaker 1: London's Heathrow Airport, British Airways and Virgin Atlantic are dropping

841
00:47:41,000 --> 00:47:45,200
Speaker 1: mass requirements Heathrows restrictions, and tomorrow the airlines will no

842
00:47:45,239 --> 00:47:48,520
Speaker 1: longer require mass on flights to destinations where their use

843
00:47:48,760 --> 00:47:52,240
Speaker 1: is no longer mandated. Most pandemic related rules in England

844
00:47:52,280 --> 00:47:55,120
Speaker 1: were dropped last month. That's the Bloomberg and J. A. T.

845
00:47:55,239 --> 00:47:58,080
Speaker 1: Stem Report. John, Karen, thank you. We're lying for the

846
00:47:58,080 --> 00:48:01,560
Speaker 1: Bloomberg Intactor Broker Studios where it is six fifty two

847
00:48:01,640 --> 00:48:03,680
Speaker 1: on Wall Street, and that means it's time to check

848
00:48:03,760 --> 00:48:06,399
Speaker 1: what's going on in d C. Some of the top

849
00:48:06,480 --> 00:48:08,719
Speaker 1: stories on our nation's capital include, of course, the White

850
00:48:08,760 --> 00:48:11,880
Speaker 1: House calling on Beijing to use its influence with Moscow

851
00:48:12,440 --> 00:48:14,840
Speaker 1: to help in the war in Ukraine. China says it

852
00:48:14,880 --> 00:48:18,040
Speaker 1: wants to avoid US sanctions, the U. S. Warren's Europe

853
00:48:18,080 --> 00:48:22,320
Speaker 1: that Russia wants armed drones from China, and then President

854
00:48:22,400 --> 00:48:26,440
Speaker 1: Biden hit with a mansion roadblock once again. Let's take

855
00:48:26,440 --> 00:48:28,359
Speaker 1: a deeper dive into some of these stories this morning

856
00:48:28,400 --> 00:48:32,680
Speaker 1: with Bloomberg's Joe Matthew, host of sound on Who Joins Us. Now,

857
00:48:33,000 --> 00:48:34,960
Speaker 1: we're gonna have to mash some of these stories together.

858
00:48:35,280 --> 00:48:38,480
Speaker 1: So what's the latest from the nation's capital with respect

859
00:48:38,560 --> 00:48:42,640
Speaker 1: to China, Russia and Russia's war on Ukraine. Joe, Well,

860
00:48:42,680 --> 00:48:45,320
Speaker 1: there's a lot there. John, an important meeting yesterday with

861
00:48:45,440 --> 00:48:48,440
Speaker 1: Jake Sullivan, our National security advisor. He sat down with

862
00:48:48,600 --> 00:48:52,600
Speaker 1: his counterparts that top diplomat from China a big meeting

863
00:48:52,719 --> 00:48:55,880
Speaker 1: in Rome. They met in neutral territory. Can you imagine

864
00:48:55,960 --> 00:49:00,720
Speaker 1: for seven hours despite being in the same room feasibly

865
00:49:00,880 --> 00:49:03,160
Speaker 1: for seven hours, and what was discussed. The White House

866
00:49:03,200 --> 00:49:06,040
Speaker 1: gave us very little, uh in the readout from this meeting,

867
00:49:06,400 --> 00:49:10,720
Speaker 1: essentially the US telling China there will be severe consequences.

868
00:49:10,760 --> 00:49:13,080
Speaker 1: That is the that's the phrase we keep hearing from

869
00:49:13,120 --> 00:49:17,960
Speaker 1: the administration. Should China help Russia in this war? This

870
00:49:18,160 --> 00:49:21,960
Speaker 1: follows reports John to your point earlier that Russia had

871
00:49:21,960 --> 00:49:24,800
Speaker 1: asked China for some help in what they like to

872
00:49:24,880 --> 00:49:29,080
Speaker 1: call this special operation. But uh, this was knocked down

873
00:49:29,160 --> 00:49:31,840
Speaker 1: very quickly by Moscow says they never asked China for

874
00:49:31,960 --> 00:49:37,600
Speaker 1: money or arms in the war against Ukraine. So well,

875
00:49:37,719 --> 00:49:40,160
Speaker 1: exactly so we had the meeting here that it was

876
00:49:40,280 --> 00:49:42,520
Speaker 1: you know, some things needed to be said, uh, not

877
00:49:42,760 --> 00:49:45,440
Speaker 1: just in terms of what not to do, but I

878
00:49:45,520 --> 00:49:48,720
Speaker 1: think the US is really hoping that Beijing finds itself

879
00:49:48,800 --> 00:49:51,440
Speaker 1: in a situation where it might even help. And wouldn't

880
00:49:51,480 --> 00:49:53,880
Speaker 1: that be a different look for China Following what we

881
00:49:53,920 --> 00:49:57,279
Speaker 1: saw during the Olympics, Vladimir putin President she standing side

882
00:49:57,320 --> 00:49:59,680
Speaker 1: by side, the big handshake, and what they described John

883
00:49:59,760 --> 00:50:03,200
Speaker 1: then as an unlimited relationship, it looks like there might

884
00:50:03,239 --> 00:50:06,839
Speaker 1: be some major limits on that relationship going forward. Is Um,

885
00:50:07,040 --> 00:50:10,000
Speaker 1: Joe Biden had to Europe to show support for the

886
00:50:10,360 --> 00:50:13,880
Speaker 1: sanctions and the European allies. That's the word. The question

887
00:50:14,000 --> 00:50:16,840
Speaker 1: is where and when? There is a thought that it

888
00:50:16,920 --> 00:50:18,600
Speaker 1: could be as soon as next week that he would

889
00:50:18,600 --> 00:50:21,360
Speaker 1: go to Brussels, maybe even to Eastern Europe, to a

890
00:50:21,400 --> 00:50:24,160
Speaker 1: country like Poland, where we have thousands of American troops

891
00:50:24,200 --> 00:50:27,200
Speaker 1: that have recently arrived and helping to to untangle this

892
00:50:27,360 --> 00:50:30,879
Speaker 1: humanitarian disaster that's underway there. This would be a big

893
00:50:31,000 --> 00:50:35,279
Speaker 1: show of support, a big uh presentation of power, a

894
00:50:35,360 --> 00:50:38,000
Speaker 1: projection of power for the United States President to show

895
00:50:38,080 --> 00:50:40,640
Speaker 1: up in Europe at this very time. And it comes

896
00:50:40,680 --> 00:50:43,400
Speaker 1: as we learned that the Prime Minister from Poland, his

897
00:50:43,560 --> 00:50:46,719
Speaker 1: counterparts in the Czech Republic and Slovakia are going to

898
00:50:46,760 --> 00:50:49,719
Speaker 1: be headed to Ukraine today to do the same thing. Yeah,

899
00:50:49,840 --> 00:50:54,240
Speaker 1: via a train to Kiev. Um. Also the Ukraine president

900
00:50:54,880 --> 00:50:58,319
Speaker 1: kind of coming to Washington at least virtually. Yeah, it's

901
00:50:58,360 --> 00:51:00,960
Speaker 1: gonna be the big show tomorrow. He's gonna be speaking

902
00:51:01,000 --> 00:51:03,560
Speaker 1: to Congress essentially a joint session. They're not going to

903
00:51:03,640 --> 00:51:05,920
Speaker 1: be in the House Chamber. They'll they'll have an auditorium

904
00:51:05,960 --> 00:51:08,520
Speaker 1: set aside in the Capital Complex for this because it

905
00:51:08,560 --> 00:51:10,759
Speaker 1: will be a virtual address. That's supposed to be about

906
00:51:10,800 --> 00:51:14,440
Speaker 1: nine o'clock tomorrow morning. And interesting, Johnny's just gonna say

907
00:51:14,480 --> 00:51:17,400
Speaker 1: thank you, having, by the way, met privately, virtually but

908
00:51:17,480 --> 00:51:21,840
Speaker 1: privately with lawmakers last weekend, two weekends ago. This is

909
00:51:21,840 --> 00:51:23,680
Speaker 1: going to be provided to the networks. It's gonna be

910
00:51:23,719 --> 00:51:26,080
Speaker 1: streamed online. People are gonna watch this on TV. So

911
00:51:26,239 --> 00:51:28,600
Speaker 1: his audience is very different now as he tries to

912
00:51:28,680 --> 00:51:31,680
Speaker 1: make the case for more military hardware if not a

913
00:51:31,760 --> 00:51:34,160
Speaker 1: no fly zone, and so far the answer from the

914
00:51:34,239 --> 00:51:36,799
Speaker 1: Pentagon on that one has been no. Hey, um, I'll

915
00:51:36,840 --> 00:51:39,520
Speaker 1: go off script because I can with you. How does

916
00:51:39,600 --> 00:51:43,719
Speaker 1: this play domestically with midterm elections coming up, That's a

917
00:51:43,760 --> 00:51:46,239
Speaker 1: great question. You know. The conventional wisdom always john is

918
00:51:46,280 --> 00:51:50,640
Speaker 1: that voters don't cast votes based on foreign affairs might

919
00:51:50,680 --> 00:51:52,360
Speaker 1: be a little bit different this time. The way that

920
00:51:53,200 --> 00:51:55,480
Speaker 1: the President Biden is comporting himself, the way that he

921
00:51:55,680 --> 00:51:59,400
Speaker 1: has helped a unite NATO, has been actually well received

922
00:51:59,520 --> 00:52:02,120
Speaker 1: in terms of the polling that we've seen, the limited

923
00:52:02,160 --> 00:52:04,480
Speaker 1: polling that we've seen since the beginning of this Republicans

924
00:52:04,480 --> 00:52:06,160
Speaker 1: are really hitting them hard though on how come we're

925
00:52:06,160 --> 00:52:08,640
Speaker 1: not giving him the MiGs, the fighter jets. How come

926
00:52:09,000 --> 00:52:11,520
Speaker 1: we ended up in this situation where we need for

927
00:52:11,680 --> 00:52:14,520
Speaker 1: an oil. It's very difficult to see how these issues

928
00:52:14,520 --> 00:52:17,880
Speaker 1: will distill themselves before we get into a voting season.

929
00:52:17,920 --> 00:52:19,560
Speaker 1: We've got a lot of time between now and then.

930
00:52:19,600 --> 00:52:22,120
Speaker 1: But certainly the way the decisions that are being made

931
00:52:22,200 --> 00:52:24,160
Speaker 1: now by this White House will be judged in the

932
00:52:24,239 --> 00:52:27,800
Speaker 1: election horse a pleasure. Bloomberg's Joe Matthew, host of Sound On.

933
00:52:27,920 --> 00:52:32,040
Speaker 1: You can hear on Bloomberg Radio's weekdays starting at five pm.

934
00:52:33,200 --> 00:52:35,760
Speaker 1: All right, John, thank you, six fifty six on Wall Street.

935
00:52:35,800 --> 00:52:38,919
Speaker 1: This is Bloomberg Day Break. In March is Women's History Month,

936
00:52:38,960 --> 00:52:41,920
Speaker 1: and every day this month we're celebrating significant moments in

937
00:52:42,000 --> 00:52:45,680
Speaker 1: women's history. Now with your installment for March fifteen, here's

938
00:52:45,719 --> 00:52:48,720
Speaker 1: Bloomberg's for need young want to stay in women's history.

939
00:52:48,760 --> 00:52:53,080
Speaker 1: In ninety six, former First Lady Eleanor Roosevelt is appointed

940
00:52:53,280 --> 00:52:58,080
Speaker 1: US Representative to the United Nations. President Harry Truman appointed her.

941
00:52:58,600 --> 00:53:02,560
Speaker 1: Roosevelt contributed great to you in policymaking, serving as Chair

942
00:53:02,640 --> 00:53:05,439
Speaker 1: of the Human Rights Commission. She was the only woman

943
00:53:05,480 --> 00:53:08,560
Speaker 1: serving on the sixth person delegation that would eventually produce

944
00:53:08,680 --> 00:53:13,040
Speaker 1: the Universal Declaration of Human Rights in December. Night Now

945
00:53:13,120 --> 00:53:17,239
Speaker 1: because of Roosevelt's massive contributions to international human rights and law,

946
00:53:17,640 --> 00:53:20,520
Speaker 1: President Truman would later call her the first Lady of

947
00:53:20,600 --> 00:53:25,080
Speaker 1: the World. Roosevelt served in this position until nineteen fifty two.

948
00:53:25,480 --> 00:53:29,360
Speaker 1: That's today in women's history. I'm Rnita Young, Bloomberg Radio.

949
00:53:29,719 --> 00:53:33,400
Speaker 1: All right, Rnita, thank you. And futures this morning they

950
00:53:33,440 --> 00:53:37,439
Speaker 1: have turned higher. SNP futures up about eight points, DAAL

951
00:53:37,560 --> 00:53:41,160
Speaker 1: futures up twenty nine and ASDAK futures up forty four.

952
00:53:41,600 --> 00:53:43,840
Speaker 1: This is after they were a lower for much of

953
00:53:43,960 --> 00:53:46,799
Speaker 1: the morning. Ten year treasury of five thirty seconds yield

954
00:53:46,800 --> 00:53:49,279
Speaker 1: two point one one per cent, and they yelled on

955
00:53:49,360 --> 00:53:51,799
Speaker 1: the two year one point eight two percent and nine

956
00:53:51,880 --> 00:53:54,920
Speaker 1: night screwde oil is down five point eight percent, and

957
00:53:55,000 --> 00:53:58,760
Speaker 1: Bloomberg surveillance is straight ahead for John Tucker. I'm Karen

958
00:53:58,840 --> 00:54:01,400
Speaker 1: Moscow and is Bloomberg