1 00:00:01,960 --> 00:00:05,680 Speaker 1: By from the Bloomberg Interacted Berger's Studios. Is Bloomberg Daybreak 2 00:00:05,720 --> 00:00:09,880 Speaker 1: for Monday, April four two. Coming up this hour, Negotiators 3 00:00:09,880 --> 00:00:12,959 Speaker 1: from Russia and Ukraine prepared to resume peace talks. At 4 00:00:12,960 --> 00:00:16,720 Speaker 1: the same time, Kiev accuses Kremlin forces of war atrocities 5 00:00:16,840 --> 00:00:19,239 Speaker 1: on the economic front, and news survey finds the US 6 00:00:19,360 --> 00:00:22,440 Speaker 1: poise for recession next year, and a prominent Wall Street 7 00:00:22,440 --> 00:00:25,360 Speaker 1: strategist says that bear market rally and stocks is over. 8 00:00:25,520 --> 00:00:28,360 Speaker 1: Resident Biden calls for Congress to act on guns after 9 00:00:28,360 --> 00:00:32,120 Speaker 1: the Sacramento shooting. Plus Broadways McBath has been halted after 10 00:00:32,200 --> 00:00:35,400 Speaker 1: Daniel Craig gets COVID, I like labar more ahead, I've 11 00:00:35,640 --> 00:00:38,320 Speaker 1: stashower and sports easy win for the next shootout loss 12 00:00:38,360 --> 00:00:41,040 Speaker 1: for the Rangers. South Carolina won the women's NC double 13 00:00:41,040 --> 00:00:45,559 Speaker 1: a the men late tonight. That's all straight Ahead on 14 00:00:45,760 --> 00:00:51,520 Speaker 1: Bloomberg day Break on Bloomberg ELEMENTARYO, New York, Bloomberg one, Washington, 15 00:00:51,640 --> 00:00:55,720 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine Sixties, 16 00:00:55,760 --> 00:00:59,640 Speaker 1: San Francisco, Sirius x M one nine Team, and around 17 00:00:59,680 --> 00:01:02,440 Speaker 1: the World Old on Bloomberg Radio dot Com and via 18 00:01:02,480 --> 00:01:09,600 Speaker 1: the Bloomberg business and good Monday morning. I'm Nathan Hagar 19 00:01:09,920 --> 00:01:12,600 Speaker 1: and I'm Karen Moscow's and p Future are starting the 20 00:01:12,600 --> 00:01:14,760 Speaker 1: week little change. We're coming up to five on one 21 00:01:14,760 --> 00:01:16,679 Speaker 1: on Wall Street, and we check the markets every fifteen 22 00:01:16,680 --> 00:01:19,880 Speaker 1: minutes throughout the trading day. On Bloomberg again, SMP futures 23 00:01:19,920 --> 00:01:22,559 Speaker 1: are a little change this morning. Dal Future is down 24 00:01:22,600 --> 00:01:26,520 Speaker 1: fifty five and NASDAK futures are up fourteen and the 25 00:01:26,640 --> 00:01:29,479 Speaker 1: decks in Germany is down four tenths of upper set. 26 00:01:30,000 --> 00:01:33,840 Speaker 1: The tenure treasury is down one thirty second, the yel 27 00:01:33,880 --> 00:01:36,000 Speaker 1: two point three eight percent. They yield on the two 28 00:01:36,080 --> 00:01:39,119 Speaker 1: year two point four four percent. Nathan, all right, Karen, 29 00:01:39,160 --> 00:01:40,920 Speaker 1: we'll have more on the markets in a minute. First, 30 00:01:40,959 --> 00:01:44,319 Speaker 1: the latest on the war. Negotiators from Russia and Ukraine 31 00:01:44,319 --> 00:01:47,880 Speaker 1: may resume video talks today. Meantime, the US and Ukraine 32 00:01:47,880 --> 00:01:51,640 Speaker 1: are calling on international courts to investigate potential war crimes 33 00:01:51,640 --> 00:01:55,520 Speaker 1: in the cities around Kiev. Bloomberg's Ed Baxter has the details. 34 00:01:56,040 --> 00:01:58,640 Speaker 1: Secretary of State Anthony B. Lincoln says the videos that 35 00:01:58,800 --> 00:02:01,680 Speaker 1: Ukraine released are all arming. We can't become none to this, 36 00:02:02,360 --> 00:02:05,760 Speaker 1: we can't normalize this um. This is the reality of 37 00:02:05,760 --> 00:02:08,519 Speaker 1: what's going on every single day, and through a translator, 38 00:02:08,560 --> 00:02:11,919 Speaker 1: President Vladimir Zelenski says the investigation has to go further 39 00:02:12,000 --> 00:02:16,880 Speaker 1: than ju Vladimir putting all the military commanders, everyone who 40 00:02:16,919 --> 00:02:22,480 Speaker 1: gave instructions and orders should be punished. Zelenski says the 41 00:02:22,520 --> 00:02:26,320 Speaker 1: atrocities go way beyond torture. In San Francisco, I'm at 42 00:02:26,360 --> 00:02:29,280 Speaker 1: Baxter Bloomberg Daybreak, greaight, and thank you at The European 43 00:02:29,400 --> 00:02:32,000 Speaker 1: Union is also speaking out on the war. Some of 44 00:02:32,080 --> 00:02:35,560 Speaker 1: you governments want to impose more sanctions following allegations of 45 00:02:35,639 --> 00:02:38,600 Speaker 1: Russian war crimes. Be go live to London and get 46 00:02:38,639 --> 00:02:40,840 Speaker 1: the latest from Bloomberg's You in pots Good Morning, You 47 00:02:41,000 --> 00:02:43,920 Speaker 1: in Good Morning count and Nathan As Ukraine sites evidence 48 00:02:43,960 --> 00:02:46,919 Speaker 1: of war crimes in the country's north. Bloomberg understands more 49 00:02:46,960 --> 00:02:50,440 Speaker 1: European sanctions are being discussed. The European Commission is focusing 50 00:02:50,440 --> 00:02:54,600 Speaker 1: on closing loopholes and strengthening existing actions such as export 51 00:02:54,639 --> 00:02:58,600 Speaker 1: controls on technology goods. Also on the table sanctioning banks 52 00:02:58,639 --> 00:03:01,840 Speaker 1: already cut off from the with global payment system, and 53 00:03:02,120 --> 00:03:06,120 Speaker 1: expanding the list of individuals facing sanctions. Live in London, 54 00:03:06,160 --> 00:03:08,720 Speaker 1: I'm your Potspo make Daybreak. Okay you and thanks. Let's 55 00:03:08,720 --> 00:03:10,840 Speaker 1: turn from the war now and focus on the economy. 56 00:03:10,919 --> 00:03:13,360 Speaker 1: Here in the US, a new survey calls for a 57 00:03:13,440 --> 00:03:16,760 Speaker 1: recession as soon as next year. Let's get the latest 58 00:03:16,840 --> 00:03:19,840 Speaker 1: live from Bloomberg's Grenida Young. Good morning, Grinita, Good morning Nathan. 59 00:03:19,919 --> 00:03:23,480 Speaker 1: Close to half of financial professionals and retail investors see 60 00:03:23,520 --> 00:03:27,000 Speaker 1: a US recession next year. That's according to results of 61 00:03:27,040 --> 00:03:31,040 Speaker 1: our Bloomberg Markets Live weekly survey. Only fifteen percent, so 62 00:03:31,200 --> 00:03:36,960 Speaker 1: it could happen this year. Pardon me, uh flag four 63 00:03:37,000 --> 00:03:41,000 Speaker 1: and sixteen percent see a US recession waiting until twenty 64 00:03:41,040 --> 00:03:43,600 Speaker 1: five or later. Just over half of the five twenty 65 00:03:43,680 --> 00:03:47,040 Speaker 1: five respondents believe the inversion between two and ten year 66 00:03:47,120 --> 00:03:50,800 Speaker 1: treasury yields is the most likely warning signal among yield 67 00:03:50,840 --> 00:03:54,440 Speaker 1: curve inversions. Live in New York. I'm Renita Young, Bloomberg 68 00:03:54,520 --> 00:03:56,680 Speaker 1: day Break. A right, Granita, thank you, And how will 69 00:03:56,720 --> 00:03:59,520 Speaker 1: the Fed respond to the current economic climate? We get 70 00:03:59,560 --> 00:04:02,200 Speaker 1: some glue this week with the marks from several officials 71 00:04:02,200 --> 00:04:05,720 Speaker 1: and here with Morris Bloomberg's Charley Pellet. Tomorrow, FED Governor 72 00:04:05,800 --> 00:04:08,720 Speaker 1: Lele Brainerd takes part in a virtual discussion on the 73 00:04:08,800 --> 00:04:12,480 Speaker 1: unequal impacts of inflation. It's hosted by the Minneapolis Fed. 74 00:04:12,880 --> 00:04:17,719 Speaker 1: On Wednesday, Philadelphia FED President Patrick Harker discusses the economic outlook. 75 00:04:18,000 --> 00:04:21,480 Speaker 1: On Thursday, St. Louis FED President Jim Bullard will discuss 76 00:04:21,480 --> 00:04:26,039 Speaker 1: the economy and military policy. Also Thursday, Raphael Bostick of 77 00:04:26,080 --> 00:04:29,120 Speaker 1: the Atlanta Fed and Charlie Evans of the Chicago Fed 78 00:04:29,360 --> 00:04:32,640 Speaker 1: will take part in an event on economic mobility and 79 00:04:32,760 --> 00:04:38,360 Speaker 1: inclusive full employment in New York. Charlie Pellett Bloomberg Daybreak, Alright, Charlie, 80 00:04:38,360 --> 00:04:40,160 Speaker 1: thank you. On Wall Street, it looks like there may 81 00:04:40,160 --> 00:04:43,200 Speaker 1: be more pain ahead for stocks. That's according to one 82 00:04:43,240 --> 00:04:47,600 Speaker 1: prominent strategist. Bloomberg's John Tucker joins us Live with the details, 83 00:04:47,680 --> 00:04:49,760 Speaker 1: John and Nathan. The recent run up of the n 84 00:04:49,800 --> 00:04:52,200 Speaker 1: SMP five hundred was nothing more than a bear market 85 00:04:52,279 --> 00:04:55,559 Speaker 1: rally that has run its course. That's according to Morgan 86 00:04:55,600 --> 00:04:58,680 Speaker 1: Stanley strategist Mike Wilson. He thanks the index as a 87 00:04:58,760 --> 00:05:01,640 Speaker 1: rough mouth ahead as it became more vulnerable to slowing 88 00:05:01,640 --> 00:05:05,479 Speaker 1: economic growth. In a note to clients, Wilson's defensive stocks 89 00:05:05,480 --> 00:05:08,680 Speaker 1: remain the place to be. Morgan Stanley strategists are also 90 00:05:08,720 --> 00:05:12,080 Speaker 1: more constructive on bonds than stocks over the New Yar term. 91 00:05:12,400 --> 00:05:15,880 Speaker 1: They say thirty year treasuries offer an excellent hedge against 92 00:05:15,880 --> 00:05:19,040 Speaker 1: the growth scare they expect from FED tightening. Lie to 93 00:05:19,120 --> 00:05:21,840 Speaker 1: New York on John Tucker Bloomberg Daybreak, All right, John, 94 00:05:21,880 --> 00:05:24,119 Speaker 1: thank you well. In pre market trading this morning, shares 95 00:05:24,160 --> 00:05:26,760 Speaker 1: a TESLA of almost one percent. Over the weekend, The 96 00:05:26,800 --> 00:05:29,440 Speaker 1: company said it delivered more than three hundred ten thousand 97 00:05:29,440 --> 00:05:32,520 Speaker 1: cars worldwide in the first quarter. That's a record and 98 00:05:32,560 --> 00:05:35,320 Speaker 1: came in above analysts estimates. With the same timecar and 99 00:05:35,360 --> 00:05:38,320 Speaker 1: shares of Starbucks are down one percent in early trading. 100 00:05:38,360 --> 00:05:41,120 Speaker 1: Founder Howard Schultz is making moves as he returns to 101 00:05:41,160 --> 00:05:44,600 Speaker 1: the CEO post, suspending a share buyback plan, saying the 102 00:05:44,600 --> 00:05:47,240 Speaker 1: cash could be better spent on stores and staff. Shelt 103 00:05:47,480 --> 00:05:50,200 Speaker 1: sixty eight years old. He's taking over from Kevin Johnson 104 00:05:50,279 --> 00:05:53,560 Speaker 1: on an interim basis while Starbucks searches for a permanent CEO. 105 00:05:54,000 --> 00:05:56,719 Speaker 1: Stocks in Asia performed well over nine Nathan. That's after 106 00:05:56,800 --> 00:06:00,280 Speaker 1: China made a conciliatory move that could remove a key hurdle, 107 00:06:00,320 --> 00:06:03,360 Speaker 1: and it's fined with the US over auditing Chinese firms 108 00:06:03,440 --> 00:06:05,680 Speaker 1: listed in New York. Let's you have the recap from 109 00:06:05,680 --> 00:06:09,640 Speaker 1: Bloomberg's Juliette Sally and Singapore Good Morning, Juliette, Good Morning, Karen. 110 00:06:09,680 --> 00:06:12,520 Speaker 1: The ms CI Asia Pacific Index gained after two sessions 111 00:06:12,520 --> 00:06:15,680 Speaker 1: of losses, boosted by internet giants ten Cent and Ali Baba. 112 00:06:16,040 --> 00:06:18,400 Speaker 1: The Hang Sang Take Index gained more than four percent 113 00:06:18,520 --> 00:06:21,400 Speaker 1: intra day after China modified a decade long rule that 114 00:06:21,480 --> 00:06:25,719 Speaker 1: restricted financial data sharing by offshore listed firms. Japanese shares 115 00:06:25,800 --> 00:06:28,400 Speaker 1: were fairly unchanged, while stocks jumped in India on a 116 00:06:28,400 --> 00:06:31,800 Speaker 1: financial sector merger, and markets in mainland China and Taiwan 117 00:06:31,880 --> 00:06:35,960 Speaker 1: were closed for holidays. In Singapore, Juliette Sally, Bloomberg Daybreak, Okay, 118 00:06:36,040 --> 00:06:38,360 Speaker 1: juliet Thanks. Let's turning to politics in the region now 119 00:06:38,360 --> 00:06:40,479 Speaker 1: with a change on the way. In Hong Kong, chief 120 00:06:40,480 --> 00:06:43,120 Speaker 1: executive Carrie Lamb says she will not run for a 121 00:06:43,200 --> 00:06:47,000 Speaker 1: second term. Bloomberg Daybreak Asia anchor Brian Curtis has more. 122 00:06:47,560 --> 00:06:50,840 Speaker 1: Lamb's announcement ends a tumultuous five years that saw Hong 123 00:06:50,920 --> 00:06:54,080 Speaker 1: Kong become more isolated globally. I was due to a 124 00:06:54,120 --> 00:06:58,640 Speaker 1: crackdown on pro democracy protests and rigid COVID nineteen restrictions. 125 00:06:59,080 --> 00:07:01,560 Speaker 1: Lamb said she and four in Beijing last year that 126 00:07:01,680 --> 00:07:03,920 Speaker 1: she would not run for a second five year term. 127 00:07:04,000 --> 00:07:07,480 Speaker 1: On May eight, Brian Curtis Bloomberg Day Break. Okay, Brian, 128 00:07:07,520 --> 00:07:10,360 Speaker 1: thanks SMP futures right now up two point staff futures 129 00:07:10,400 --> 00:07:13,560 Speaker 1: down twenty NASTAC futures up thirty four. The tenure Treasury 130 00:07:13,640 --> 00:07:16,840 Speaker 1: yield two point three nine. Straight ahead, your latest local 131 00:07:16,880 --> 00:07:23,640 Speaker 1: headlines and the check of sports. This is Bloomberg. That's 132 00:07:23,680 --> 00:07:25,800 Speaker 1: five oh seven on Wall Street. Were forty degrees in 133 00:07:25,840 --> 00:07:28,440 Speaker 1: Central Park already seeing an accident on the southbound Van 134 00:07:28,520 --> 00:07:31,880 Speaker 1: Wick by the Nassau Expressway. Details coming up in traffic. 135 00:07:31,960 --> 00:07:34,080 Speaker 1: First Michael Barr with more on what's going on in 136 00:07:34,080 --> 00:07:37,360 Speaker 1: New York and around the world. Good morning, Michael, Good morning, Nathan. 137 00:07:37,400 --> 00:07:40,480 Speaker 1: President Biden says Congress must act on guns after the 138 00:07:40,520 --> 00:07:44,560 Speaker 1: Sacramento shooting. Biden is calling for banning ghost guns, limiting 139 00:07:44,600 --> 00:07:49,640 Speaker 1: gun manufacturer liability, immunity, and requiring background checks for all 140 00:07:49,680 --> 00:07:53,400 Speaker 1: gun sales. Sacramento police say at least two shooters are 141 00:07:53,480 --> 00:07:56,760 Speaker 1: at large after killing six people and wounding twelve others. 142 00:07:56,760 --> 00:08:00,560 Speaker 1: Early Sunday, Mayor Darryl Steinberg says it's past time to 143 00:08:00,640 --> 00:08:03,360 Speaker 1: deal with gun violence. It is beyond time to have 144 00:08:03,360 --> 00:08:07,400 Speaker 1: the same conversation about guns in America. We have a sickness. 145 00:08:07,400 --> 00:08:09,680 Speaker 1: It's a sickness in our country, It's a sickness in 146 00:08:09,720 --> 00:08:12,400 Speaker 1: our culture. Meyer Steinberg says, so far, there is no 147 00:08:12,520 --> 00:08:15,680 Speaker 1: motive for the shooting. New York Mayor Eric Adams talked 148 00:08:15,720 --> 00:08:18,120 Speaker 1: about the gun violence. Adam says he talked to the 149 00:08:18,160 --> 00:08:21,120 Speaker 1: President about the issue over the weekend. We really have 150 00:08:21,400 --> 00:08:23,840 Speaker 1: to have a combination. We have to stop the flow 151 00:08:23,880 --> 00:08:26,080 Speaker 1: of guns, but we must also do the job of 152 00:08:26,160 --> 00:08:28,120 Speaker 1: getting it goes off the streets. That's only there now, 153 00:08:28,400 --> 00:08:31,960 Speaker 1: and my anti gun unit they're doing that. Just a 154 00:08:32,000 --> 00:08:36,480 Speaker 1: few weeks out, they removed over twenty something guns off 155 00:08:36,520 --> 00:08:40,160 Speaker 1: the street. Adam spoke on CBS his Face the Nation, 156 00:08:40,280 --> 00:08:43,520 Speaker 1: which can be heard Sundays on Bloomberg. Jerry's selection is 157 00:08:43,559 --> 00:08:46,840 Speaker 1: to begin today, and the sentencing trial of Parkland, Florida, 158 00:08:47,000 --> 00:08:51,160 Speaker 1: school shooter Nicholas Cruz, jurors will decide whether they're sentencing 159 00:08:51,240 --> 00:08:55,040 Speaker 1: him to death for murdering seventeen people in the eighteen 160 00:08:55,080 --> 00:08:58,280 Speaker 1: massacre can take place. He confess to opening fire at 161 00:08:58,320 --> 00:09:02,640 Speaker 1: Marjorie's Stoneman Douglas high school and already pleaded guilty. US 162 00:09:02,720 --> 00:09:05,960 Speaker 1: airlines are restoring service after bad weather and staffing issues 163 00:09:06,000 --> 00:09:09,800 Speaker 1: contributed to more than thirty five hundred weekend flight cancelations. 164 00:09:09,840 --> 00:09:12,480 Speaker 1: So far today, according to flight Aware, only about a 165 00:09:12,559 --> 00:09:16,160 Speaker 1: hundred sixty two flights have been canceled. Daniel Craig's returned 166 00:09:16,160 --> 00:09:18,959 Speaker 1: to Broadway in a new version of Macbeth has been 167 00:09:19,000 --> 00:09:23,600 Speaker 1: temporarily halted after the actor contracted COVID. Nineteen performances are 168 00:09:23,679 --> 00:09:27,199 Speaker 1: canceled through Thursday. John Batiste took home Album of the 169 00:09:27,280 --> 00:09:30,840 Speaker 1: Year on airs at last night's Grammys. Ukrainian President Voladimir 170 00:09:30,880 --> 00:09:33,280 Speaker 1: z Lensky appeared in a video message during the show 171 00:09:33,600 --> 00:09:36,440 Speaker 1: asking for support for the war in this country. Tell 172 00:09:36,520 --> 00:09:39,720 Speaker 1: the truth about the war on your social matters on TV. 173 00:09:39,840 --> 00:09:43,480 Speaker 1: Support us in any way. You can't anybody not silence 174 00:09:43,960 --> 00:09:46,840 Speaker 1: and then peaceful gone. Zelenski made his plead during the 175 00:09:46,840 --> 00:09:49,880 Speaker 1: Grammys that were held in Las Vegas. Global News twenty 176 00:09:49,880 --> 00:09:52,640 Speaker 1: four hours a day on air and on Bloomberg quick Take, 177 00:09:52,720 --> 00:09:56,040 Speaker 1: powered by more than twenty seven under journalist and analysts 178 00:09:56,040 --> 00:09:59,319 Speaker 1: more than a hundred twenty countries. Michael Barron, this is Bloomberg. 179 00:09:59,400 --> 00:10:06,080 Speaker 1: Nathan I'm Michael. Thanks come up to five ten on 180 00:10:06,120 --> 00:10:08,160 Speaker 1: Wall Street time for the Bloomberg Sports Update. Good going 181 00:10:08,200 --> 00:10:12,240 Speaker 1: to John Stay Nathan Perennial College basketball Powers meet to 182 00:10:12,320 --> 00:10:14,240 Speaker 1: night in New Orleans and the n C Double A Championship. 183 00:10:14,280 --> 00:10:17,480 Speaker 1: North Carolinas won the title six times Kansas three. That 184 00:10:17,600 --> 00:10:20,800 Speaker 1: two teams met in the nineteen fifty seven final, Gatar 185 00:10:20,880 --> 00:10:24,640 Speaker 1: Heels won fifty four to fifty three and tripled over time. 186 00:10:24,760 --> 00:10:28,080 Speaker 1: South Carolina won the women's title in Minneapolis to forty 187 00:10:28,120 --> 00:10:31,240 Speaker 1: nine over Yukon Gino Orima had been eleven and oh 188 00:10:31,240 --> 00:10:33,360 Speaker 1: in championship games, I've been in the other locker room 189 00:10:33,400 --> 00:10:35,080 Speaker 1: a lot of times, and so I know what that 190 00:10:35,120 --> 00:10:37,599 Speaker 1: feels like. I can have been in this locker room, 191 00:10:37,600 --> 00:10:39,840 Speaker 1: and I know what that feels like. In one team 192 00:10:39,920 --> 00:10:43,480 Speaker 1: is going to be National's champion in Yuro teams nine 193 00:10:44,080 --> 00:10:47,360 Speaker 1: and I think they deserved. They were the best team 194 00:10:47,400 --> 00:10:50,040 Speaker 1: all year. Second championship for the game Cops Rangers at 195 00:10:50,040 --> 00:10:52,560 Speaker 1: the Guard against the Flyers, a team the Rangers should beat. 196 00:10:52,600 --> 00:10:54,880 Speaker 1: They did not tell behind three, nothing tied the game 197 00:10:54,960 --> 00:10:57,400 Speaker 1: of three and the third including goals twelve seconds apart. 198 00:10:57,720 --> 00:11:00,600 Speaker 1: Philadelphia won four three on a shootout goal by ex 199 00:11:00,760 --> 00:11:03,760 Speaker 1: ranger Kevin Hayes. Islanders got a hat check from J. G. Pago. 200 00:11:03,880 --> 00:11:05,720 Speaker 1: He had three goals early in the second period in 201 00:11:05,720 --> 00:11:08,079 Speaker 1: the Aisles through the Devil's four to three easy win 202 00:11:08,200 --> 00:11:10,880 Speaker 1: for the next one eighteen to eighty eight in Orlando, 203 00:11:11,000 --> 00:11:13,720 Speaker 1: just the eighteenth ever trade between the Mets and Yankees, 204 00:11:13,760 --> 00:11:16,559 Speaker 1: they swapped relievers met Gating, a lefty with the departure 205 00:11:16,559 --> 00:11:19,080 Speaker 1: of Aaron Loup. They sent Miguel Castro to the Yanks 206 00:11:19,120 --> 00:11:21,920 Speaker 1: for Joe Ellie Rodriguez. Yankees also sent reliever for Albert 207 00:11:21,920 --> 00:11:25,600 Speaker 1: Abreo to Texas for catcher Close Trevino Tiger, What's calls 208 00:11:25,679 --> 00:11:29,440 Speaker 1: himself a game time decision, unsure whether he'll play the Masters, 209 00:11:29,480 --> 00:11:32,480 Speaker 1: suffered serious injuries fourteen months ago in that car accident. 210 00:11:32,559 --> 00:11:34,760 Speaker 1: Had said recently he was just happy to have his 211 00:11:34,880 --> 00:11:37,720 Speaker 1: limbs intact. The Tiger recently played at eighteen whole practice 212 00:11:37,760 --> 00:11:42,320 Speaker 1: round to AUGUSTA Masters begainst Thursday. Hourly reports throughout on Bloomberg, Ridwan, 213 00:11:42,640 --> 00:11:45,880 Speaker 1: John stash Allard Bloomberg Sports. Yes, indeed all right, John, 214 00:11:45,920 --> 00:11:48,920 Speaker 1: thanks SMP futures right now at five point staff futures 215 00:11:48,920 --> 00:11:51,920 Speaker 1: little change. Nanastack features up forty seven. The actions in 216 00:11:52,000 --> 00:11:54,199 Speaker 1: the bond market once again this morning, with the ten 217 00:11:54,280 --> 00:11:57,720 Speaker 1: year down three thirty seconds, the yield two point, yield 218 00:11:57,720 --> 00:11:59,800 Speaker 1: on the two year two point four four and in 219 00:12:00,080 --> 00:12:02,920 Speaker 1: Urgin of five and a half paces points. This is 220 00:12:02,960 --> 00:12:09,719 Speaker 1: Bloomberg Bloomberg eleven three oh Weather mostly sunny today, mid 221 00:12:09,760 --> 00:12:11,800 Speaker 1: fifties for highs will be in the upper fifties, with 222 00:12:11,920 --> 00:12:14,760 Speaker 1: some late day rain possible Tomorrow rain a nd by 223 00:12:14,800 --> 00:12:18,280 Speaker 1: Wednesday afternoon with hies pack near fifty five currently forty 224 00:12:18,400 --> 00:12:25,719 Speaker 1: in Central Park markets. Headlines and breaking news twenty four 225 00:12:25,760 --> 00:12:28,800 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business 226 00:12:28,800 --> 00:12:32,480 Speaker 1: at and at Bloomberg Quick Tape He's a Bloomberg business 227 00:12:32,559 --> 00:12:41,439 Speaker 1: lash and I'm Karen Moscow songs in Europe and US 228 00:12:41,520 --> 00:12:44,480 Speaker 1: dot Indis. Futures are higher as traders away the latest 229 00:12:44,520 --> 00:12:46,719 Speaker 1: developments in the Ukraine War, with a new push for 230 00:12:46,880 --> 00:12:50,720 Speaker 1: Stiffer's sanctions on Russia overshadowing the planned resumption of peace talks. 231 00:12:51,040 --> 00:12:53,480 Speaker 1: Check the markets every fifteen minutes throughout the trading day 232 00:12:53,520 --> 00:12:56,360 Speaker 1: on Bloomberg Guess and P Futures are up six points 233 00:12:56,679 --> 00:12:59,920 Speaker 1: down futures up seven. They're little changed and nownsday futures 234 00:13:00,440 --> 00:13:02,920 Speaker 1: up fifty the decks in Germany as it will changed 235 00:13:02,960 --> 00:13:05,520 Speaker 1: as well. Ten, your treasury down four thirty seconds. You 236 00:13:05,559 --> 00:13:07,880 Speaker 1: have two point three nine per set yield on the 237 00:13:07,960 --> 00:13:11,480 Speaker 1: two year two point four four percent NIMEX freude oil 238 00:13:11,640 --> 00:13:14,000 Speaker 1: is it will change at n twenty six cents of 239 00:13:14,080 --> 00:13:16,679 Speaker 1: barrel comes schoold is up four tens per cent or 240 00:13:16,679 --> 00:13:19,480 Speaker 1: eight dollars forty cents. In nineteen thirty two, ten announced 241 00:13:19,840 --> 00:13:22,440 Speaker 1: the euro on point one zero two six against the dollar. 242 00:13:22,520 --> 00:13:24,800 Speaker 1: British found one point three one two zero the ends 243 00:13:24,840 --> 00:13:28,000 Speaker 1: at one twenty two point six two and Bitcoin this 244 00:13:28,080 --> 00:13:30,720 Speaker 1: morning lower down nine tens of upper cent and forty 245 00:13:30,720 --> 00:13:33,680 Speaker 1: five thousand, nine hundred sixty dollars. And we are looking 246 00:13:33,720 --> 00:13:36,400 Speaker 1: for reports on factory orders and durable goods orders at 247 00:13:36,400 --> 00:13:39,680 Speaker 1: at ten o'clock Wall Street time. That's a Bloomberg business flash. 248 00:13:39,679 --> 00:13:41,880 Speaker 1: Now here's Michael Barr with more on what's going on 249 00:13:41,920 --> 00:13:44,920 Speaker 1: around the world. Michael, thank you very much. Karen. Both 250 00:13:44,960 --> 00:13:47,800 Speaker 1: the US and Ukraine are calling on international courts to 251 00:13:47,880 --> 00:13:52,360 Speaker 1: investigate potential war crimes in the city surrounding Key. President 252 00:13:52,400 --> 00:13:54,960 Speaker 1: Biden is calling on Congress to act on guns after 253 00:13:55,000 --> 00:13:58,280 Speaker 1: a mass shooting in Sacramento left six dead and twelve 254 00:13:58,320 --> 00:14:02,199 Speaker 1: woom get South Carolina is captured did second national championship 255 00:14:02,400 --> 00:14:05,240 Speaker 1: In the women's NZ Double A basketball tournament. The game 256 00:14:05,280 --> 00:14:08,760 Speaker 1: Cocks shut down yukon STY nine. The men's n C 257 00:14:08,840 --> 00:14:12,479 Speaker 1: Double A tournament final is tonight between Kansas and North Carolina. 258 00:14:12,800 --> 00:14:15,640 Speaker 1: In the NBA, the nixt one Celtics beat the Wizards 259 00:14:15,640 --> 00:14:20,040 Speaker 1: on one oh two. The Warriors were also winners. In 260 00:14:20,080 --> 00:14:22,680 Speaker 1: the NHL, the Islanders beat the Devil's for three. The 261 00:14:22,760 --> 00:14:25,160 Speaker 1: Rangers lost in the shoot out to the Flyers for three. 262 00:14:25,480 --> 00:14:27,800 Speaker 1: Global News twenty four hours a day on air and 263 00:14:27,960 --> 00:14:31,200 Speaker 1: on Bloomberg Quittank, powered by more than twenty seven hundred 264 00:14:31,240 --> 00:14:34,080 Speaker 1: journalists and antalists more than a hundred twenty countries. Michael 265 00:14:34,120 --> 00:14:37,280 Speaker 1: barn this is Bloomberg. Nathan Okay, Michael. Thanks, It's five 266 00:14:37,400 --> 00:14:41,080 Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. 267 00:14:41,120 --> 00:14:43,640 Speaker 1: This is Bloomberg Daybreak, and as we get ready to 268 00:14:43,720 --> 00:14:46,760 Speaker 1: kick off the first full trading week of the second quarter, 269 00:14:47,120 --> 00:14:50,040 Speaker 1: We're joined now by Lori Calvacina, head of US Equity 270 00:14:50,120 --> 00:14:53,800 Speaker 1: Strategy at RBC Capital Markets. Lorie great as always to 271 00:14:53,880 --> 00:14:56,800 Speaker 1: speak with you. Obviously a lot of focus for investors 272 00:14:56,800 --> 00:15:00,400 Speaker 1: on the war developments and the growth pros bects for 273 00:15:00,440 --> 00:15:03,440 Speaker 1: this economy. We have the two tang yield curve in 274 00:15:03,520 --> 00:15:09,400 Speaker 1: a pretty strong inversion here. How much stock do your analysts, 275 00:15:09,440 --> 00:15:12,760 Speaker 1: at least on the equity side put on the inversion 276 00:15:12,840 --> 00:15:16,880 Speaker 1: of the yield curve? Well, thanks for having me, as always, Look, 277 00:15:16,920 --> 00:15:18,960 Speaker 1: it's a great question. I actually asked my banks to 278 00:15:19,160 --> 00:15:22,600 Speaker 1: this recently, and they're more focused on ten threes um 279 00:15:22,720 --> 00:15:26,360 Speaker 1: and also frankly, you know, sort of looking across different 280 00:15:26,400 --> 00:15:29,440 Speaker 1: sectors in different industries. I think our analysts tend to 281 00:15:29,440 --> 00:15:31,840 Speaker 1: look at the preponderance of the evidence as opposed to 282 00:15:31,840 --> 00:15:34,880 Speaker 1: any one particular indicator. And as we've got you know, 283 00:15:34,960 --> 00:15:37,480 Speaker 1: kind of gotten ready for this upcoming recording season, I 284 00:15:37,480 --> 00:15:39,160 Speaker 1: think one of the things that's really on a lot 285 00:15:39,160 --> 00:15:42,840 Speaker 1: of our analysts mind is just how strong the characterizations 286 00:15:42,880 --> 00:15:45,640 Speaker 1: of demand has been. And so far there aren't really 287 00:15:45,640 --> 00:15:48,720 Speaker 1: any of the occasions that that characteriation of characterization of 288 00:15:48,760 --> 00:15:51,240 Speaker 1: demands his weekend. And it's very hard, you know, to 289 00:15:51,320 --> 00:15:54,280 Speaker 1: sort of anticipate heading into a recession when the descriptions 290 00:15:54,320 --> 00:15:57,240 Speaker 1: of demand are so robust. So I think you know, 291 00:15:57,280 --> 00:15:59,800 Speaker 1: our analysts are vigilant as m I um, but I 292 00:15:59,800 --> 00:16:02,600 Speaker 1: think for now, the stock market has voted and the markets, 293 00:16:02,680 --> 00:16:04,600 Speaker 1: you know, it's sort of acting like we are heading 294 00:16:04,640 --> 00:16:07,680 Speaker 1: into a growth slow down as opposed to a recession. Well, 295 00:16:07,680 --> 00:16:11,000 Speaker 1: we heard from Mike Wilson over Morgan Stanley saying that 296 00:16:11,040 --> 00:16:14,320 Speaker 1: the bear market rally is he terms it is over, 297 00:16:14,400 --> 00:16:18,120 Speaker 1: He's doubling down on a defensive bias. Is he calling 298 00:16:18,240 --> 00:16:22,160 Speaker 1: this wrong? Look? I think it is very hard to 299 00:16:22,240 --> 00:16:25,200 Speaker 1: get excited about defensive sectors at this point in time, 300 00:16:25,320 --> 00:16:27,920 Speaker 1: despite all the worries that we have, you know, sort 301 00:16:27,960 --> 00:16:30,480 Speaker 1: of highly noness e equity investors. And one of the 302 00:16:30,520 --> 00:16:33,160 Speaker 1: reasons is that when we look at our models, defensive 303 00:16:33,200 --> 00:16:37,440 Speaker 1: sectors like healthcare, consumer staples, utilities are already quite over 304 00:16:37,520 --> 00:16:39,960 Speaker 1: valued relative to the broader market. If you look at 305 00:16:39,960 --> 00:16:43,520 Speaker 1: where valuation opportunity is emerging, it's more on the growth 306 00:16:43,520 --> 00:16:47,640 Speaker 1: side of the equation. So areas like consumer discretionary communication services, 307 00:16:47,760 --> 00:16:51,520 Speaker 1: classic technology has seen valuation multiples really come in and 308 00:16:51,520 --> 00:16:54,880 Speaker 1: picklical still look pretty cheap. So I understand, you know, 309 00:16:54,920 --> 00:16:57,160 Speaker 1: sort of the impulse to kind of you know, kind 310 00:16:57,160 --> 00:16:59,880 Speaker 1: of way into defensives here just given all the concern 311 00:17:00,080 --> 00:17:02,600 Speaker 1: that are weighing on the market. From bottom US perspective, 312 00:17:02,600 --> 00:17:04,679 Speaker 1: it's very difficult. And I will also tell you you know, 313 00:17:04,680 --> 00:17:06,720 Speaker 1: and I know I've talked about it on this program before, 314 00:17:07,320 --> 00:17:09,680 Speaker 1: but if you look at the sentiment ages and particularly 315 00:17:09,680 --> 00:17:13,520 Speaker 1: a AII met bull bears um, they have recently been 316 00:17:13,640 --> 00:17:16,920 Speaker 1: the low levels um that were the pandemic loads. I mean, 317 00:17:17,000 --> 00:17:19,639 Speaker 1: just think about that for a moment um. The sentiment 318 00:17:19,720 --> 00:17:22,560 Speaker 1: has been so bad um that it was worse than 319 00:17:22,600 --> 00:17:24,679 Speaker 1: some of the days of the pandemic. And you know, 320 00:17:24,680 --> 00:17:27,480 Speaker 1: I'm very mindful of that as we navigate this environment 321 00:17:27,520 --> 00:17:29,359 Speaker 1: that a lot of the pressures in the market have 322 00:17:29,480 --> 00:17:31,159 Speaker 1: already been baked in, and we don't really want to 323 00:17:31,160 --> 00:17:33,960 Speaker 1: fall into that vicious for text of negativity on our side. 324 00:17:34,200 --> 00:17:36,280 Speaker 1: They made some news late last week with your call 325 00:17:36,400 --> 00:17:41,960 Speaker 1: Elver at RBC two downgrade energy stocks. What was behind that, so, 326 00:17:42,119 --> 00:17:43,800 Speaker 1: you know, thank thanks for Austin is it was a 327 00:17:43,960 --> 00:17:46,640 Speaker 1: very very tough call on our parent and but we 328 00:17:46,640 --> 00:17:49,439 Speaker 1: we do have this sense that market leadership is shifting 329 00:17:49,440 --> 00:17:51,639 Speaker 1: away from value and back to growth, and we've been 330 00:17:51,680 --> 00:17:54,320 Speaker 1: thinking about this for quite some time. Last August we 331 00:17:54,400 --> 00:17:56,879 Speaker 1: actually said we expected value to see a big surge 332 00:17:56,880 --> 00:17:59,000 Speaker 1: and relative performance to start the year, but that by 333 00:17:59,040 --> 00:18:00,440 Speaker 1: the time we got to make you we see the 334 00:18:00,480 --> 00:18:03,160 Speaker 1: market leadership transition back to growth, and we've actually signaled 335 00:18:03,200 --> 00:18:06,240 Speaker 1: recently we thought that transition was happening sooner. Um. You know, 336 00:18:06,280 --> 00:18:09,600 Speaker 1: we've been overweight energy since January, and to be honest, 337 00:18:09,640 --> 00:18:12,080 Speaker 1: it still looks good on our valuation models. Our inservisions 338 00:18:12,080 --> 00:18:14,920 Speaker 1: are very strong, but we know that value really only 339 00:18:14,960 --> 00:18:18,000 Speaker 1: works when the economy is hot, running above average. Growth 340 00:18:18,080 --> 00:18:20,879 Speaker 1: tends to outperform when the economy is running cool and 341 00:18:20,920 --> 00:18:23,240 Speaker 1: my economists recently cut his forecast to two and a 342 00:18:23,280 --> 00:18:26,280 Speaker 1: half percent for this year. Consensus is also looking for 343 00:18:26,800 --> 00:18:29,080 Speaker 1: less than less than trend for next year, a ground 344 00:18:29,080 --> 00:18:31,080 Speaker 1: two point three percent, So we know the economy is 345 00:18:31,080 --> 00:18:34,600 Speaker 1: cooling off. That naturally pushes leadership back towards growth. We 346 00:18:34,680 --> 00:18:37,000 Speaker 1: also passed an important mile marker in the form of 347 00:18:37,280 --> 00:18:40,679 Speaker 1: first said rate hype. Typically, growth leadership resumed after that. 348 00:18:40,840 --> 00:18:43,920 Speaker 1: Value really worked ahead of the first hype. We had 349 00:18:43,960 --> 00:18:45,960 Speaker 1: a decision to make what how we were going to 350 00:18:46,080 --> 00:18:48,960 Speaker 1: take value exposure down. We surveyed our analysts and found 351 00:18:48,960 --> 00:18:51,280 Speaker 1: that their conviction level on energy had simply come down 352 00:18:51,280 --> 00:18:53,720 Speaker 1: relative to where it had been. They're still constructive, but 353 00:18:53,840 --> 00:18:56,359 Speaker 1: not nearly as constructive as they as they have been 354 00:18:56,400 --> 00:18:58,240 Speaker 1: based on the quarterly survey that we do with them 355 00:18:58,240 --> 00:19:01,560 Speaker 1: that we just completed last week. About thirty seconds left here, Laurie, 356 00:19:01,600 --> 00:19:04,240 Speaker 1: But do you expect that rotation from value into growth 357 00:19:04,280 --> 00:19:07,560 Speaker 1: to continue if the FED is more aggressive with rate hikes. 358 00:19:07,600 --> 00:19:11,000 Speaker 1: If we see like fifty basis point increases at multiple meetings, 359 00:19:11,760 --> 00:19:13,600 Speaker 1: you know, we think the FED is already priced in 360 00:19:13,720 --> 00:19:17,040 Speaker 1: from evaluation perspective. The economic damage that may happen from 361 00:19:17,040 --> 00:19:19,479 Speaker 1: those types is not. So that's that's another question. It's 362 00:19:19,520 --> 00:19:21,920 Speaker 1: something else we have to monitor. But we do think 363 00:19:22,000 --> 00:19:24,480 Speaker 1: that the punchline from those hypes and that aggressive FED 364 00:19:24,600 --> 00:19:28,040 Speaker 1: stance is cooling off economic growth, not necessarily tilting us 365 00:19:28,040 --> 00:19:30,640 Speaker 1: into a recession, but the cool down on that economic 366 00:19:30,680 --> 00:19:33,080 Speaker 1: growth is the fundamental catalyst that pushes the market back 367 00:19:33,119 --> 00:19:35,760 Speaker 1: to growth. Thanks for this as always, Lorie, great having 368 00:19:35,760 --> 00:19:39,160 Speaker 1: you with us. Lori Calvacina, head of US Equity Strategy 369 00:19:39,200 --> 00:19:43,280 Speaker 1: at RBC Capital Markets. Right now, SMP futures are up, 370 00:19:43,840 --> 00:19:46,240 Speaker 1: but just by six points. Now Future is up five 371 00:19:46,720 --> 00:19:49,240 Speaker 1: NASTAC futures are higher by forty eight points. That's the 372 00:19:49,280 --> 00:19:50,880 Speaker 1: gain of a third or one percent. To tend your 373 00:19:50,880 --> 00:19:53,680 Speaker 1: treasury is down three thirty seconds. The yield two point 374 00:19:53,720 --> 00:19:56,879 Speaker 1: three nine yield on the two year is higher by 375 00:19:56,880 --> 00:19:59,600 Speaker 1: almost six basis points at two point four or four 376 00:19:59,640 --> 00:20:03,520 Speaker 1: percent on a two year Treasury note. This is Bloomberg 377 00:20:07,440 --> 00:20:10,520 Speaker 1: Bloomberg eleven three oh weathers mostly sunny today. Has your 378 00:20:10,560 --> 00:20:13,520 Speaker 1: fifty five degrees late day rain possible tomorrow with a 379 00:20:13,600 --> 00:20:16,520 Speaker 1: high near sixty. The rain will end by Wednesday afternoon 380 00:20:16,520 --> 00:20:18,760 Speaker 1: with highs back in the mid fifties, currently forty in 381 00:20:18,840 --> 00:20:26,680 Speaker 1: Central Park. Broadcasting live from the Bloomberg Interacted Broker Studio 382 00:20:26,800 --> 00:20:29,720 Speaker 1: in New York. Bloomberg E Living free on to Washington, 383 00:20:29,800 --> 00:20:33,880 Speaker 1: d C. Bloomberg to Boston Bloomberg one O six one 384 00:20:33,960 --> 00:20:36,920 Speaker 1: to San Francisco Bloomberg and M sixty to the country 385 00:20:37,000 --> 00:20:40,199 Speaker 1: sirius XM chto one nine and around the globe the 386 00:20:40,200 --> 00:20:44,119 Speaker 1: Bloomberg Business APT and Bloomberg Radio dot Com. This is 387 00:20:44,119 --> 00:20:53,040 Speaker 1: Bloomberg Daybreak. It's five thirty on Wall Street. Good morning, 388 00:20:53,080 --> 00:20:56,159 Speaker 1: I'm Nathan Hager and I'm Karen Moscow or just about 389 00:20:56,200 --> 00:20:58,800 Speaker 1: four hours away from the open of US trading. Let's 390 00:20:58,840 --> 00:21:00,199 Speaker 1: get you up to date in the news you need 391 00:21:00,240 --> 00:21:02,960 Speaker 1: to know at this hour. Russia and Ukraine may resume 392 00:21:03,080 --> 00:21:07,160 Speaker 1: video talks later today. Even as Kiev accuses Kremlin forces 393 00:21:07,160 --> 00:21:12,080 Speaker 1: of carrying out atrocities, Russia is dismissing images of executed 394 00:21:12,160 --> 00:21:16,280 Speaker 1: unarmed civilians is fake. Ukrainian President Vladimir Zolenski says the 395 00:21:16,320 --> 00:21:21,040 Speaker 1: war is destroying his country. We couldn't have imagined anything 396 00:21:21,119 --> 00:21:25,520 Speaker 1: like this, because this is a maniac type of decision 397 00:21:25,760 --> 00:21:30,200 Speaker 1: to destroy the whole nation. Zelenski spoke through an interpreter 398 00:21:30,240 --> 00:21:32,600 Speaker 1: to face the Nation on CBS. You can catch the 399 00:21:32,600 --> 00:21:36,200 Speaker 1: show every Sunday here on Bloomberg Radio. President Zelensky also 400 00:21:36,200 --> 00:21:38,760 Speaker 1: made an appearance at the Grammys with a video message 401 00:21:38,800 --> 00:21:43,520 Speaker 1: asking for more support our musicians where body armor instead 402 00:21:43,560 --> 00:21:47,440 Speaker 1: of luxA. They seen to their wounded in hospitals, even 403 00:21:47,520 --> 00:21:50,240 Speaker 1: to those who come fear them. But the music will 404 00:21:50,280 --> 00:21:54,560 Speaker 1: break through anyway. Zelensky is accusing Russia of committing genocide 405 00:21:54,560 --> 00:21:57,800 Speaker 1: in Ukraine. Some of your governments are pushing to impose 406 00:21:57,840 --> 00:22:01,159 Speaker 1: more sanctions following allegations of Russia in war crimes, Nathan, 407 00:22:01,200 --> 00:22:04,560 Speaker 1: but there's no consensus he yet on a new sanctions package. 408 00:22:04,880 --> 00:22:07,960 Speaker 1: Jamie diamonds, also calling for more sanctions on Russia. Karen. 409 00:22:08,040 --> 00:22:10,399 Speaker 1: That came in his annual letter to shareholders, where the 410 00:22:10,480 --> 00:22:13,720 Speaker 1: JP Morgan Chase CEO also says the Fed may raise 411 00:22:13,880 --> 00:22:17,600 Speaker 1: rates higher than markets expect. Meantime, Nathan, a new survey 412 00:22:17,720 --> 00:22:19,879 Speaker 1: is calling for a recession next year. Let's get the 413 00:22:19,920 --> 00:22:22,359 Speaker 1: latest line from Bloomberg's Real need a Young good morning, 414 00:22:22,840 --> 00:22:25,879 Speaker 1: Good morning, Karen. Close to half of financial professionals and 415 00:22:25,960 --> 00:22:30,200 Speaker 1: retail investors see a US recession next year. That's according 416 00:22:30,200 --> 00:22:33,920 Speaker 1: to results of our Bloomberg Markets Live weekly survey. Only 417 00:22:34,000 --> 00:22:38,720 Speaker 1: fifteen percent say it could happen this year, Flag four 418 00:22:38,880 --> 00:22:41,679 Speaker 1: at the most likely timing. Just over half of the 419 00:22:41,720 --> 00:22:45,159 Speaker 1: five twenty five respondents believe the inversion between two and 420 00:22:45,240 --> 00:22:48,680 Speaker 1: ten year treasury yields is the most likely warning signal 421 00:22:48,720 --> 00:22:52,120 Speaker 1: among yield curve inversions. Live in New York. I'm really 422 00:22:52,160 --> 00:22:54,119 Speaker 1: need a Young Bloomberg daybreak, all right, We need a 423 00:22:54,119 --> 00:22:56,199 Speaker 1: thanks so there could be more paint ahead for stocks, 424 00:22:56,240 --> 00:22:59,720 Speaker 1: according to one prominent Wall Street strategist, Bloomberg's John Tucker 425 00:22:59,800 --> 00:23:03,000 Speaker 1: Joe says, Live with that, John Morgan. Stanley's Mike Wilson 426 00:23:03,040 --> 00:23:04,320 Speaker 1: says the current run up on the N S and 427 00:23:04,359 --> 00:23:05,960 Speaker 1: P five hawd it was nothing more than a bear 428 00:23:06,040 --> 00:23:09,280 Speaker 1: market rally that's run its course. He expects a rough 429 00:23:09,359 --> 00:23:11,840 Speaker 1: month a hand for the index, telling investors to put 430 00:23:11,840 --> 00:23:15,240 Speaker 1: their money into defensive stocks. And despite the pounding bonds 431 00:23:15,240 --> 00:23:18,479 Speaker 1: have taken Morgan Stanley strategists are more constructive on bonds 432 00:23:18,480 --> 00:23:21,159 Speaker 1: than stocks over the New York Term Live in New 433 00:23:21,240 --> 00:23:24,119 Speaker 1: York on John Tucker Bloomberg Daybreak. All right, John, thank you. 434 00:23:24,240 --> 00:23:26,600 Speaker 1: N S and P futures are a little change this morning, 435 00:23:26,600 --> 00:23:30,080 Speaker 1: so we're down futures, Nasday Futures up thirty seven straight ahead, 436 00:23:30,119 --> 00:23:32,919 Speaker 1: your latest local headlines, plus the check of sports. And 437 00:23:33,080 --> 00:23:40,080 Speaker 1: this is Bloomberg, Right, Karen, thank you. It's five thirty 438 00:23:40,080 --> 00:23:42,360 Speaker 1: three on Wall Street with thirty nine degrees in Central Park. 439 00:23:42,440 --> 00:23:44,639 Speaker 1: We've got an accident on the inbound upper level the 440 00:23:44,680 --> 00:23:47,920 Speaker 1: George Washington Bridge. Details on the delays coming up in traffic. 441 00:23:48,000 --> 00:23:50,399 Speaker 1: First Michael Barr with more on what's going on in 442 00:23:50,440 --> 00:23:53,359 Speaker 1: New York and around the world. Michael, thank you very much. Nathan. 443 00:23:53,400 --> 00:23:56,800 Speaker 1: President Biden, it's calling on Congress to take action against 444 00:23:56,800 --> 00:23:59,640 Speaker 1: gun crimes after six people were shot and killed early 445 00:23:59,760 --> 00:24:03,719 Speaker 1: sun Day in downtown Sacramento, Police say three men and 446 00:24:03,760 --> 00:24:07,159 Speaker 1: three women were fatally shot. Twelve others were wounded. Authorities 447 00:24:07,160 --> 00:24:10,680 Speaker 1: say there were at least two shooters. Sacramento Mayor Darrel 448 00:24:10,720 --> 00:24:13,840 Speaker 1: Steinberg says it's past time to deal with gun violence. 449 00:24:14,720 --> 00:24:18,399 Speaker 1: This sickness will be cured Sunday in this country or 450 00:24:18,480 --> 00:24:23,040 Speaker 1: we will destroy ourselves in this country near Steinberg says 451 00:24:23,040 --> 00:24:25,880 Speaker 1: a motive has not been offered. Meanwhile, New York Mayor 452 00:24:26,000 --> 00:24:28,399 Speaker 1: Eric Adams says he spoke to President Biden over the 453 00:24:28,440 --> 00:24:32,000 Speaker 1: weekend about gun violence. Adam says his crime Task Force 454 00:24:32,040 --> 00:24:35,440 Speaker 1: has been out on the streets collecting illegal weapons. Sevent 455 00:24:36,000 --> 00:24:40,640 Speaker 1: those who were carrying guns had prior violent offenses. So 456 00:24:40,800 --> 00:24:43,600 Speaker 1: we need to combine with that small number of people 457 00:24:43,640 --> 00:24:45,920 Speaker 1: who are carrying guns with the large number of guns 458 00:24:45,920 --> 00:24:49,199 Speaker 1: on a street and get both of us. Adams spoke 459 00:24:49,280 --> 00:24:51,800 Speaker 1: on CBS his Face the Nation, which can be heard 460 00:24:51,800 --> 00:24:55,240 Speaker 1: Sundays on Bloomberg. The Senate Judiciary Committee is set to 461 00:24:55,320 --> 00:24:58,800 Speaker 1: vote today on confirming Judge Katangi Brown Jackson to the U. S. 462 00:24:58,800 --> 00:25:02,040 Speaker 1: Supreme Court. Of full Senate vote is possible this week. 463 00:25:02,400 --> 00:25:04,720 Speaker 1: It looks like President Biden has the votes to get 464 00:25:04,720 --> 00:25:08,240 Speaker 1: his nominee to the Supreme Court Judge Jackson would be 465 00:25:08,280 --> 00:25:10,960 Speaker 1: the first black woman confirmed to the nation's highest court. 466 00:25:11,520 --> 00:25:14,000 Speaker 1: Daniel Craig's returned to Broadway and a new version of 467 00:25:14,080 --> 00:25:18,120 Speaker 1: Macbeth has been temporarily halted after the actor contracted COVID nineteen. 468 00:25:18,640 --> 00:25:22,720 Speaker 1: Performances are canceled through Thursday. Craig Stars and a revival 469 00:25:22,800 --> 00:25:28,679 Speaker 1: of Williams Shakespeare's Tragedy. Other high profile shows on Broadway 470 00:25:28,720 --> 00:25:32,359 Speaker 1: have had canceled shows due to their lead actors contracting 471 00:25:32,359 --> 00:25:36,560 Speaker 1: the virus, including both The Music Man leads Hugh Jackman 472 00:25:36,880 --> 00:25:39,760 Speaker 1: and Sutton Foster. John Battiste was the big winner at 473 00:25:39,840 --> 00:25:42,800 Speaker 1: last night's Grammy Awards with five including Album of the Year. 474 00:25:43,080 --> 00:25:46,640 Speaker 1: Silk Sonic took home Record of the Year. Global News 475 00:25:46,640 --> 00:25:49,360 Speaker 1: twenty four hours a day on air and on Bloomberg 476 00:25:49,400 --> 00:25:52,880 Speaker 1: Quick Take, powered by more than twenty seven journalists analysts 477 00:25:52,920 --> 00:25:56,600 Speaker 1: more than twenty countries. Michael Barr, this is Bloomberg. Nathan alright, Michael, 478 00:25:56,640 --> 00:26:04,399 Speaker 1: Thanks Ball Street. Time for the Bloomberg Sports Update with 479 00:26:04,480 --> 00:26:07,760 Speaker 1: John stenshown to Nathan Kansas in North Carolina tonight in 480 00:26:07,800 --> 00:26:09,760 Speaker 1: New Orleans to the n C Double A Championship. Jayox 481 00:26:09,800 --> 00:26:12,120 Speaker 1: have won the title three times in their history, Carolina 482 00:26:12,280 --> 00:26:15,720 Speaker 1: six times. Not expected to win this year, Tarios were 483 00:26:15,720 --> 00:26:18,880 Speaker 1: an eight seed because they lost five games by more 484 00:26:18,960 --> 00:26:21,640 Speaker 1: than sixteen points. They lost at home to lowly Pit. 485 00:26:21,840 --> 00:26:24,960 Speaker 1: But since that lost eleven and one, two wins over 486 00:26:25,080 --> 00:26:27,680 Speaker 1: Duke and now Hubert Davis, the ex Nick has a 487 00:26:27,760 --> 00:26:30,399 Speaker 1: chance to make history win a championship as a rookie 488 00:26:30,480 --> 00:26:34,920 Speaker 1: head coach. I'm thinking about, are these kids, these players, 489 00:26:35,640 --> 00:26:38,280 Speaker 1: and I told them that, Um, how happy I am 490 00:26:38,720 --> 00:26:40,359 Speaker 1: did I get a front row seat just to be 491 00:26:40,440 --> 00:26:43,040 Speaker 1: able to for them to go through this season and 492 00:26:43,119 --> 00:26:46,480 Speaker 1: go through these experiences. It's a blessing for me. It's 493 00:26:46,480 --> 00:26:48,879 Speaker 1: a privilege, it's an honor. Those are the things that 494 00:26:48,960 --> 00:26:51,639 Speaker 1: I'm thinking about. Technically, Steve Fisher won a title with 495 00:26:51,680 --> 00:26:53,520 Speaker 1: Michigan in his first year, but he was an interim 496 00:26:53,600 --> 00:26:56,159 Speaker 1: coach of just taking over the teams. Women's championship in 497 00:26:56,240 --> 00:26:59,760 Speaker 1: Minneapolis won easily by South Carolina sixty nine over you. 498 00:27:00,040 --> 00:27:02,280 Speaker 1: On final week for the next playing out the String 499 00:27:02,400 --> 00:27:05,119 Speaker 1: easy win by thirty in Orlando. R J. Barrett scored 500 00:27:05,160 --> 00:27:07,920 Speaker 1: twenty seven at the Garden Rangers Trail Philadelphia three nothing, 501 00:27:08,040 --> 00:27:11,000 Speaker 1: rallied to tie Nika's advantage. At a new Ranger. Andrew 502 00:27:11,040 --> 00:27:13,560 Speaker 1: cop scored twelve seconds apart for the Flyers, one for 503 00:27:13,800 --> 00:27:16,640 Speaker 1: three in a shootout. Islanders beat the Devil's also four 504 00:27:16,760 --> 00:27:19,000 Speaker 1: three hat trick for j. G. Pezo. Islsa won four 505 00:27:19,000 --> 00:27:21,880 Speaker 1: in a row, still eleven points out for a playoff spot. 506 00:27:22,200 --> 00:27:25,159 Speaker 1: A rare met Yankee trade Miguel Castro to the Yanks 507 00:27:25,240 --> 00:27:27,960 Speaker 1: Joe Ellie Rodriguez to the Mets at a swap of relievers. 508 00:27:28,080 --> 00:27:31,160 Speaker 1: Yankees also sent reliever Albert Abreu to Texas for catcher 509 00:27:31,240 --> 00:27:35,520 Speaker 1: Jose Travino. The Master's teas off Thursday reports throughout here. 510 00:27:35,560 --> 00:27:39,159 Speaker 1: On Bloomberg Radio, will Tiger Awards play, He calls himself 511 00:27:39,200 --> 00:27:42,680 Speaker 1: a gay time decision ban Scar Sword Bloomberg score. Maybe 512 00:27:42,800 --> 00:27:45,320 Speaker 1: you know more reasonable? Listen? Okay, thanks John. It's five 513 00:27:45,400 --> 00:27:47,360 Speaker 1: thirty seven on Wall Street Time for the Tri State 514 00:27:47,400 --> 00:27:51,440 Speaker 1: Business Report. Here's Bloomberg's said. Corey the pizza principal, a 515 00:27:51,560 --> 00:27:54,560 Speaker 1: mainstay of New York economics for more than four decades, 516 00:27:54,960 --> 00:27:57,320 Speaker 1: says that a slice of cheese pizza will always be 517 00:27:57,400 --> 00:28:01,240 Speaker 1: the same price as his subway ride, not anymore. Prices 518 00:28:01,320 --> 00:28:04,359 Speaker 1: for plane slices are soaring about three bucks throughout the city. 519 00:28:04,760 --> 00:28:08,439 Speaker 1: The Metropolitan Transportation Authority is freezing fairs at two dollars 520 00:28:08,480 --> 00:28:11,879 Speaker 1: and seventy five cents. Friday's vote by workers in an 521 00:28:11,920 --> 00:28:15,879 Speaker 1: Amazon warehouse to unionize was a watershed moment for the company. 522 00:28:16,320 --> 00:28:19,080 Speaker 1: It's managed to keep unions out of its US operations 523 00:28:19,160 --> 00:28:22,560 Speaker 1: for more than a quarter century. Unless the result is overturned, 524 00:28:22,560 --> 00:28:24,959 Speaker 1: Amazon will have to start talks that could hamper its 525 00:28:25,000 --> 00:28:28,600 Speaker 1: ability to adjust work requirements and scheduling on the fly. 526 00:28:29,200 --> 00:28:32,160 Speaker 1: Federal Reserve Bank of New York President John Williams says 527 00:28:32,200 --> 00:28:34,879 Speaker 1: well over two thirds of New York City's job losses 528 00:28:34,960 --> 00:28:38,360 Speaker 1: have been reversed. He also says some sectors hit harnessed 529 00:28:38,360 --> 00:28:41,760 Speaker 1: by the pandemic, though, continue to struggle that your Bloomberg 530 00:28:41,800 --> 00:28:45,160 Speaker 1: Tries Day Business report, I'm Ed Corey said. It's five 531 00:28:45,240 --> 00:28:47,560 Speaker 1: thirty eight on Wall Street. Bloomberg Radio is on the 532 00:28:47,600 --> 00:28:50,440 Speaker 1: air from San Francisco to New York, London to Hong Kong. 533 00:28:50,560 --> 00:28:52,480 Speaker 1: Let's check in with our global news team for some 534 00:28:52,600 --> 00:28:55,040 Speaker 1: of the top stories heard on our three hundred affiliate 535 00:28:55,160 --> 00:29:01,640 Speaker 1: radio stations around the world. I Steve Potaskan on ten 536 00:29:01,760 --> 00:29:04,440 Speaker 1: ten Wins in New York. We're talking about big pay 537 00:29:04,520 --> 00:29:09,400 Speaker 1: raises for company chief executives Courtney, Donaholan, Keral Dan Dallas 538 00:29:09,560 --> 00:29:12,880 Speaker 1: travelers are rare to go and rising hotel prices aren't 539 00:29:12,920 --> 00:29:17,000 Speaker 1: stopping time. Genus Servetti in for w CCO in Minneapolis, 540 00:29:17,120 --> 00:29:20,200 Speaker 1: I'm reporting that hundreds of small independent drug stores are 541 00:29:20,200 --> 00:29:23,320 Speaker 1: accusing United Health of short changing them by more than 542 00:29:23,360 --> 00:29:26,960 Speaker 1: a hundred million dollars. Bid Cory on w o AI 543 00:29:27,160 --> 00:29:31,200 Speaker 1: in San Antonio, I'm reporting that Toyotas sold nearly eleven 544 00:29:31,320 --> 00:29:34,920 Speaker 1: thousand hundred pickups made of the city in March. And 545 00:29:35,000 --> 00:29:37,320 Speaker 1: those are some of the stories. Are twenty seven hundred 546 00:29:37,320 --> 00:29:40,280 Speaker 1: Bloomberg journalists and analysts are working on this morning around 547 00:29:40,320 --> 00:29:43,160 Speaker 1: the world. It's five thirty nine on Wall Street. The 548 00:29:43,320 --> 00:29:47,680 Speaker 1: following is an editorial from Bloomberg Opinion. This editorial was 549 00:29:47,800 --> 00:29:52,200 Speaker 1: written by the Bloomberg Editorial Board. Among the few encouraging 550 00:29:52,280 --> 00:29:55,920 Speaker 1: trends in American education during the pandemic has been the 551 00:29:56,000 --> 00:30:00,360 Speaker 1: growth of public charter schools, where enrollment has and by 552 00:30:00,680 --> 00:30:05,400 Speaker 1: seven percent. Fed Up with underperforming public schools, parents are 553 00:30:05,560 --> 00:30:10,440 Speaker 1: voting with their feet. Unfortunately, the Biden administration appears intent 554 00:30:10,640 --> 00:30:14,920 Speaker 1: on ignoring this warning sign. The Education Department has proposed 555 00:30:15,000 --> 00:30:19,120 Speaker 1: new rules that would effectively bar charter school operators from 556 00:30:19,160 --> 00:30:22,640 Speaker 1: receiving federal support if they open in areas where public 557 00:30:22,720 --> 00:30:26,800 Speaker 1: school enrollment is declining. Those are the very communities where 558 00:30:27,000 --> 00:30:31,920 Speaker 1: dissatisfaction with public schools is boiling over. Charter schools can't 559 00:30:32,000 --> 00:30:34,600 Speaker 1: fix all of the problems facing the U. S public 560 00:30:34,760 --> 00:30:38,080 Speaker 1: education system, but they are a lifeline for millions of 561 00:30:38,200 --> 00:30:42,880 Speaker 1: students trapped in failing schools or at risk of dropping out. 562 00:30:43,320 --> 00:30:46,680 Speaker 1: Biden should show he's on their side and scrap these 563 00:30:46,840 --> 00:30:50,800 Speaker 1: wrong headed rules. This editorial was written by the Bloomberg 564 00:30:51,000 --> 00:30:54,880 Speaker 1: Editorial Board. For more Bloomberg opinion, please go to Bloomberg 565 00:30:54,960 --> 00:30:58,680 Speaker 1: dot com, slash opinion or ope I n go on 566 00:30:58,800 --> 00:31:02,120 Speaker 1: the Bloomberg term at all. This has been Bloomberg Opinion. 567 00:31:02,360 --> 00:31:05,760 Speaker 1: Listen for Bloomberg opinion editorials every weekday. At this time, 568 00:31:05,920 --> 00:31:08,520 Speaker 1: terminal customers could read more at O P I n go. 569 00:31:09,240 --> 00:31:12,360 Speaker 1: SMP futures up seven point, Stuff futures up twelve, Nasdaq 570 00:31:12,440 --> 00:31:15,360 Speaker 1: futures higher by fifty three points. In the tenure Treasury 571 00:31:15,440 --> 00:31:23,000 Speaker 1: yield two point three nine percent. This is Bloomberg Lumber 572 00:31:23,040 --> 00:31:25,760 Speaker 1: eleven three oh weather mostly sunny, mid fifties today, upper 573 00:31:25,840 --> 00:31:28,400 Speaker 1: fifties with late day rain tomorrow, the rain of end 574 00:31:28,440 --> 00:31:31,160 Speaker 1: by Wednesday afternoon back to a high near fifty five. 575 00:31:31,280 --> 00:31:39,440 Speaker 1: Right now thirty nine degrees in Central Park markets. Headlines 576 00:31:39,520 --> 00:31:42,480 Speaker 1: and breaking news twenty four hours a day at Bloomberg 577 00:31:42,520 --> 00:31:45,600 Speaker 1: dot Com, the Bloomberg Business Out and at Bloomberg Quick 578 00:31:45,640 --> 00:31:55,640 Speaker 1: Tape is a Bloomberg Business Flash, and I'm parent. Moscow 579 00:31:55,880 --> 00:31:59,320 Speaker 1: stops in Europe and US Dock Index futures are higher 580 00:31:59,360 --> 00:32:02,080 Speaker 1: as traders the way the latest developments in the Ukraine War, 581 00:32:02,240 --> 00:32:04,640 Speaker 1: with Pea stocks set to resume amid a new push 582 00:32:04,720 --> 00:32:07,600 Speaker 1: for stiffer sanctions on Russia. We checked the markets every 583 00:32:07,640 --> 00:32:10,600 Speaker 1: fifteen minutes throughout the trading day on Bloomberg Guess and 584 00:32:10,640 --> 00:32:13,720 Speaker 1: P futures are up six points down futures that will change, 585 00:32:14,080 --> 00:32:17,240 Speaker 1: NASDAG futures up forty eight. The decks in Germany is 586 00:32:17,320 --> 00:32:20,120 Speaker 1: it will change ten. Your treasury down three thirty seconds. 587 00:32:20,200 --> 00:32:22,240 Speaker 1: You have two point three nine percent. The yield on 588 00:32:22,320 --> 00:32:25,280 Speaker 1: a two year two point four five per cent nive 589 00:32:25,320 --> 00:32:27,440 Speaker 1: ex screute oil is down seven tenths per cent, or 590 00:32:27,440 --> 00:32:30,160 Speaker 1: sixty seven cents at ninety eight dollars fifty seven cents 591 00:32:30,200 --> 00:32:33,920 Speaker 1: of barrel the euro on one seven against the dollar, 592 00:32:34,280 --> 00:32:37,160 Speaker 1: and bitcoin is lower down eight tenths percent at forty 593 00:32:37,240 --> 00:32:40,400 Speaker 1: six thousand, twenty dollars. That's a Bloomberg business flash. Now 594 00:32:40,440 --> 00:32:42,720 Speaker 1: here's Michael Barr with more on what's going on around 595 00:32:42,760 --> 00:32:45,560 Speaker 1: the world. Michael, thank you very much, Karen. Some European 596 00:32:45,680 --> 00:32:49,680 Speaker 1: Union governments are pushing to quickly impose new sanctions in 597 00:32:49,840 --> 00:32:54,600 Speaker 1: response to multiple reports that Russian troops executed unarmed civilians 598 00:32:54,600 --> 00:32:58,480 Speaker 1: in Ukrainian towns. It comes at Ukraine sites more evidence 599 00:32:58,520 --> 00:33:01,520 Speaker 1: of war crimes in the North Estelle Harris, who played 600 00:33:01,560 --> 00:33:05,920 Speaker 1: George Costanza's mother on Seinfeld, has died. Harris, who also 601 00:33:06,080 --> 00:33:08,080 Speaker 1: was the voice of Mrs potato Head in the toy 602 00:33:08,160 --> 00:33:11,800 Speaker 1: Sty movies, was ninety three. South Carolina has captured as 603 00:33:11,840 --> 00:33:14,640 Speaker 1: second national championship in the women's n C Double A 604 00:33:14,720 --> 00:33:19,040 Speaker 1: basketball tournament. The game Cocks shut down yukon forty nine. 605 00:33:19,360 --> 00:33:22,040 Speaker 1: The men's NZ Double A tournament final is tonight between 606 00:33:22,160 --> 00:33:25,440 Speaker 1: Kansas and North Carolina. In the NBA the nixt one, 607 00:33:25,560 --> 00:33:28,880 Speaker 1: the Celtics beat the Wizards one four, one oh two. 608 00:33:29,280 --> 00:33:32,760 Speaker 1: The Warriors were also winners. In the NHL. The Islanders 609 00:33:32,800 --> 00:33:34,880 Speaker 1: beat the Devil's for three, the Rangers lost in the 610 00:33:34,880 --> 00:33:38,280 Speaker 1: shootout to the flyers. For three Global News twenty four 611 00:33:38,320 --> 00:33:41,040 Speaker 1: hours a day on air and on Bloomberg Quick Take, 612 00:33:41,320 --> 00:33:44,360 Speaker 1: powered by more than twenty seven hundred journalists and analysts 613 00:33:44,520 --> 00:33:47,040 Speaker 1: in more than one D twenty countries. Michael Barr and 614 00:33:47,160 --> 00:33:49,640 Speaker 1: this is Bloomberg. Nathan, Okay, Michael, thank you. It is 615 00:33:49,720 --> 00:33:52,200 Speaker 1: five forty nine on Wall Street, Live from the Bloomberg 616 00:33:52,240 --> 00:33:55,640 Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak, and we're joined 617 00:33:55,720 --> 00:33:59,120 Speaker 1: once again now by Bloomberg News Executive editor for International Government, 618 00:33:59,240 --> 00:34:02,320 Speaker 1: Rosalind math Us and Roz Good morning. Of course, we've 619 00:34:02,360 --> 00:34:08,280 Speaker 1: all by now seen these horrifying images purportedly of civilian 620 00:34:08,480 --> 00:34:12,239 Speaker 1: casualties in cities your key of that Russia has pulled 621 00:34:12,280 --> 00:34:15,600 Speaker 1: out of We should note that Russia is calling these 622 00:34:15,760 --> 00:34:22,120 Speaker 1: reports of civilian deaths fake. What's been confirmed about Ukraine's claims? 623 00:34:22,239 --> 00:34:26,240 Speaker 1: Has anything been confirmed yet? Well, nothing has been confirmed, 624 00:34:26,280 --> 00:34:28,919 Speaker 1: but obviously there's a big body of evidence out there, 625 00:34:29,000 --> 00:34:32,560 Speaker 1: both in footage that was taken as Ukrainian forces went 626 00:34:32,640 --> 00:34:36,480 Speaker 1: back into this town when it was vacated by Russia. 627 00:34:36,560 --> 00:34:39,400 Speaker 1: That's been shared widely and of course by others and 628 00:34:39,480 --> 00:34:42,680 Speaker 1: by Western media that's been going in there as well 629 00:34:42,880 --> 00:34:45,560 Speaker 1: of images that you say are quite horrific that point 630 00:34:45,680 --> 00:34:48,520 Speaker 1: toward what Europe and others in the US say could 631 00:34:48,560 --> 00:34:52,560 Speaker 1: be war crimes committed by Russian troops in that town. Certainly, 632 00:34:52,680 --> 00:34:56,680 Speaker 1: images of bodies in the streets, bodies tied up, are 633 00:34:56,719 --> 00:34:59,880 Speaker 1: people with their hands tied behind their backs, quite distressing 634 00:35:00,480 --> 00:35:03,280 Speaker 1: in the extreme, and of course pressing Europe and others 635 00:35:03,360 --> 00:35:06,120 Speaker 1: than to respond more forcefully to Russia perhaps, and they 636 00:35:06,160 --> 00:35:09,640 Speaker 1: have so far in terms of economic pressure on Russia 637 00:35:09,719 --> 00:35:12,960 Speaker 1: for its actions inside Ukraine. And that's where the conversations 638 00:35:13,000 --> 00:35:15,640 Speaker 1: really going to center in Europe as what else they 639 00:35:15,680 --> 00:35:18,279 Speaker 1: can do to try and pressure Russia to change its 640 00:35:18,320 --> 00:35:21,000 Speaker 1: course in the war. Well, let's take a little bit 641 00:35:21,040 --> 00:35:24,200 Speaker 1: of a deeper dive into what that conversation could look like. 642 00:35:24,360 --> 00:35:28,879 Speaker 1: There have obviously been many sanctions imposed on Russian oligarchs, 643 00:35:29,000 --> 00:35:33,600 Speaker 1: on Russian banks. Obviously the oil and gas sector seems 644 00:35:33,680 --> 00:35:37,560 Speaker 1: to be a place where Europe feels pretty reticent about 645 00:35:37,680 --> 00:35:41,240 Speaker 1: putting pretty strong sanctions. There is that on the table. 646 00:35:41,600 --> 00:35:45,520 Speaker 1: Is Russian energy on the table? Now, Well, it's very 647 00:35:45,560 --> 00:35:47,240 Speaker 1: hard to see that it can't come on the table 648 00:35:47,280 --> 00:35:50,480 Speaker 1: at least for the conversation. You can see that nations 649 00:35:50,560 --> 00:35:53,000 Speaker 1: in Eastern Europe, for example, just saying it needs to 650 00:35:53,040 --> 00:35:56,520 Speaker 1: be the next step. You're seeing other countries including France 651 00:35:56,680 --> 00:35:59,800 Speaker 1: UM indicating the same and certainly a lot of pressure 652 00:35:59,800 --> 00:36:02,560 Speaker 1: that's going to come on Germany to open the conversation 653 00:36:02,640 --> 00:36:06,360 Speaker 1: more forcefully about cutting off the types for Europe in 654 00:36:06,520 --> 00:36:09,320 Speaker 1: terms of Russian oil and gas. Of course, Germany is 655 00:36:09,400 --> 00:36:12,600 Speaker 1: the most exposed economy, the biggest economy in Europe. When 656 00:36:12,640 --> 00:36:15,279 Speaker 1: it comes to this, it's been very reticent to do so. 657 00:36:15,480 --> 00:36:17,680 Speaker 1: In fact, even today the Economy Minister was out this 658 00:36:17,800 --> 00:36:20,160 Speaker 1: morning saying you can't act on this too quickly because 659 00:36:20,239 --> 00:36:23,440 Speaker 1: the economic shock to Germany would be too great. But 660 00:36:23,600 --> 00:36:26,080 Speaker 1: you can see a real conversation that's going to escalate 661 00:36:26,200 --> 00:36:29,239 Speaker 1: here in terms of what Europe can do because they've 662 00:36:29,280 --> 00:36:31,640 Speaker 1: madically they're not going to send troops into Ukraine, so 663 00:36:31,800 --> 00:36:35,480 Speaker 1: what else can they do aside for military action to 664 00:36:35,640 --> 00:36:38,440 Speaker 1: support Ukraine. UM. So you'll see a lot of pressure 665 00:36:38,480 --> 00:36:41,520 Speaker 1: coming for conversation on that this week amongst the EU nations. 666 00:36:41,880 --> 00:36:44,120 Speaker 1: And I guess there's an open question as well about 667 00:36:44,239 --> 00:36:48,160 Speaker 1: how these claims affect the conversation if it comes up 668 00:36:48,239 --> 00:36:52,640 Speaker 1: today between Russia and Ukraine. There's been some talk that 669 00:36:52,760 --> 00:36:56,319 Speaker 1: there's going to be more negotiations by video today. You've 670 00:36:56,320 --> 00:36:59,359 Speaker 1: got to wonder how what kind of basis there can 671 00:36:59,440 --> 00:37:03,200 Speaker 1: be for an asotiations now when Ukraine is putting these 672 00:37:03,400 --> 00:37:08,440 Speaker 1: kinds of horrific claims against Russia right now, Well, that's right, 673 00:37:08,520 --> 00:37:11,160 Speaker 1: and it's possible though that there will be video talks today. 674 00:37:11,640 --> 00:37:14,640 Speaker 1: Right now Ukraine is indicating that it's willing to keep 675 00:37:14,680 --> 00:37:19,040 Speaker 1: those negotiations going because it's broader imperative is most important, 676 00:37:19,080 --> 00:37:21,640 Speaker 1: which is to achieve somehow at least a temporary cease 677 00:37:21,680 --> 00:37:24,320 Speaker 1: five that covers most of Ukraine, if not all of it, 678 00:37:24,480 --> 00:37:27,919 Speaker 1: for at least forty eight hours, to allow some humanitarian 679 00:37:28,000 --> 00:37:29,560 Speaker 1: aid to get in and out of some of the 680 00:37:30,080 --> 00:37:32,520 Speaker 1: worst hit areas, and also to allow the safe movement 681 00:37:32,560 --> 00:37:35,880 Speaker 1: of people, because we've seen that really struggle around towns 682 00:37:35,960 --> 00:37:38,880 Speaker 1: like Mario Paul in the southeast of Ukraine, which has 683 00:37:38,920 --> 00:37:41,520 Speaker 1: been under siege for weeks. No aid or very limit 684 00:37:41,560 --> 00:37:44,400 Speaker 1: today coming in or out. So Ukraine says, despite what 685 00:37:44,520 --> 00:37:46,720 Speaker 1: they're seeing in these towns in the north, as Russian 686 00:37:46,760 --> 00:37:50,080 Speaker 1: troops leave, they feel the conversation has to continue at 687 00:37:50,160 --> 00:37:52,320 Speaker 1: that higher level to try and achieve at least a 688 00:37:52,360 --> 00:37:55,799 Speaker 1: temporary cease far as always Rose, thanks for joining us, 689 00:37:55,920 --> 00:38:00,000 Speaker 1: Rosalind Mathis and Bloomberg News Executive editor for International Government, 690 00:38:00,360 --> 00:38:03,360 Speaker 1: Karen Verry Nathan, Thank you. It is fifty three on 691 00:38:03,440 --> 00:38:06,200 Speaker 1: Wall Street. Time for the Bloomberg Law Report, brought to 692 00:38:06,320 --> 00:38:11,160 Speaker 1: you by American Arbitration Association. Business disputes are inevitable, resolve 693 00:38:11,200 --> 00:38:14,920 Speaker 1: faster with the American Arbitration Association, the global leader in 694 00:38:14,960 --> 00:38:18,320 Speaker 1: alternative dispute resolution for over ninety years. More at a 695 00:38:18,440 --> 00:38:21,319 Speaker 1: dr dot org. That's yet at the llegal stories we're 696 00:38:21,400 --> 00:38:28,080 Speaker 1: watching this morning from Bloomberg's Jeff Bellinger. A federal court 697 00:38:28,200 --> 00:38:31,720 Speaker 1: ruled that Walmart must stop selling shoes that Van says 698 00:38:31,880 --> 00:38:35,000 Speaker 1: are an entire slate of knockoffs of its old school 699 00:38:35,280 --> 00:38:39,200 Speaker 1: skate shoes. A federal judge in California rule that Facebook 700 00:38:39,239 --> 00:38:41,880 Speaker 1: will face a trial over whether it collects and uses 701 00:38:41,960 --> 00:38:45,880 Speaker 1: biometric data of Illinois residents who do not have Facebook accounts, 702 00:38:46,160 --> 00:38:49,000 Speaker 1: but the scope of the suit was trimmed. The Federal 703 00:38:49,080 --> 00:38:53,520 Speaker 1: Circuit revived a patent infringement suit against Nintendo related to 704 00:38:53,600 --> 00:38:57,920 Speaker 1: the synchronizing of data streams with its game controllers, Bloomberg 705 00:38:58,080 --> 00:39:02,160 Speaker 1: Law everything you need, all on one legal research platform, 706 00:39:02,320 --> 00:39:06,960 Speaker 1: including guidance analysis and Bloomberg Market Intelligence. Find out more 707 00:39:07,040 --> 00:39:10,960 Speaker 1: at Bloomberg Law dot com. All right, Jeff, thank you Now. 708 00:39:11,000 --> 00:39:14,000 Speaker 1: Another legal story where watching brings us to Supreme Court 709 00:39:14,160 --> 00:39:18,239 Speaker 1: Justice Clarence Thomas. He's facing calls to recuse himself from 710 00:39:18,320 --> 00:39:23,560 Speaker 1: cases involving election disputes or the January sixth insurrection. That's 711 00:39:23,600 --> 00:39:27,160 Speaker 1: after revelations at his wife, Jenny Thomas repeatedly pushed to 712 00:39:27,280 --> 00:39:30,719 Speaker 1: overturn the presidential election in a series of texts with 713 00:39:30,840 --> 00:39:34,000 Speaker 1: former White House Chief of Staff Mark Meadows. For more 714 00:39:34,040 --> 00:39:37,359 Speaker 1: in the matter, Bloomberg student Grasso speaks to Rebecca roy Fee, 715 00:39:37,480 --> 00:39:40,600 Speaker 1: or professor at New York Law School. Rebecca, what are 716 00:39:40,640 --> 00:39:44,759 Speaker 1: the rules for recusal that Supreme Court justices follow? There 717 00:39:44,840 --> 00:39:48,560 Speaker 1: are rules that are drafted for all judges, and those 718 00:39:48,680 --> 00:39:52,840 Speaker 1: rules require a judge to disqualify himself for herself whenever 719 00:39:53,080 --> 00:39:57,279 Speaker 1: that judge's impartiality might reasonably be questioned. But that's a 720 00:39:57,440 --> 00:40:00,560 Speaker 1: really broad rule, and in or are there are some 721 00:40:00,680 --> 00:40:05,640 Speaker 1: more specifics about when judges normally recused themselves, and the 722 00:40:05,719 --> 00:40:10,600 Speaker 1: general proposition is interpreted in light of those more specific rules. 723 00:40:10,719 --> 00:40:13,239 Speaker 1: And one thing that's kind of important also is that 724 00:40:13,360 --> 00:40:16,120 Speaker 1: Supreme Court justices are a little bit different than other 725 00:40:16,280 --> 00:40:18,960 Speaker 1: judges in that there is no one to take their 726 00:40:19,040 --> 00:40:22,960 Speaker 1: place when they recuse themselves, and so for that reason, 727 00:40:23,080 --> 00:40:25,759 Speaker 1: it's generally a good idea for judges to be a 728 00:40:25,840 --> 00:40:30,480 Speaker 1: little bit more conservative about exercising their discretion to recuse 729 00:40:30,520 --> 00:40:35,120 Speaker 1: themselves in particular cases. So, according to the texts that 730 00:40:35,280 --> 00:40:40,240 Speaker 1: have been revealed, Jenny Thomas weighed in on Trump's legal 731 00:40:40,400 --> 00:40:44,920 Speaker 1: team legal strategy. She was actively involved in trying to 732 00:40:45,000 --> 00:40:50,120 Speaker 1: get the election overturned. Justice Thomas participated in two cases 733 00:40:50,200 --> 00:40:54,839 Speaker 1: related to election. He was the only justice who dissented 734 00:40:55,000 --> 00:40:58,440 Speaker 1: when the Supreme Court allowed the release of records from 735 00:40:58,480 --> 00:41:01,239 Speaker 1: the Trump White House to the many Should he have 736 00:41:01,480 --> 00:41:06,240 Speaker 1: recused himself from those cases? My view in this manner 737 00:41:06,400 --> 00:41:10,160 Speaker 1: is that for the case having to do with the emails, specifically, 738 00:41:10,600 --> 00:41:14,440 Speaker 1: Justice Thomas, if he knew that his wife had emails 739 00:41:14,520 --> 00:41:17,080 Speaker 1: that were at issue in that case, should have recused 740 00:41:17,440 --> 00:41:20,480 Speaker 1: because in that case then she might have had an 741 00:41:20,560 --> 00:41:23,040 Speaker 1: actual interest, so more than just sort of her own 742 00:41:23,160 --> 00:41:27,080 Speaker 1: ideological agenda, she might have had a personal interest, either 743 00:41:27,160 --> 00:41:30,440 Speaker 1: criminal liability, civil liability or at least, you know, personal 744 00:41:30,480 --> 00:41:34,200 Speaker 1: embarrassment at issue in that case, and so it seems 745 00:41:34,239 --> 00:41:37,160 Speaker 1: to me that he, if he knew, really should have recused. 746 00:41:37,520 --> 00:41:40,720 Speaker 1: The other cases, for me are a harder call because 747 00:41:41,520 --> 00:41:44,960 Speaker 1: what it is that is her interest is less concrete, 748 00:41:45,440 --> 00:41:48,759 Speaker 1: and that makes it more difficult and not clear cut, 749 00:41:48,960 --> 00:41:52,319 Speaker 1: because free I Court justices in the past, it's very 750 00:41:52,400 --> 00:41:55,800 Speaker 1: clear that there's a record for recusing themselves in cases 751 00:41:55,880 --> 00:41:58,280 Speaker 1: in which, let's say they have a financial and trust 752 00:41:58,560 --> 00:42:01,360 Speaker 1: or a spouse has a financial interests, or they're connected 753 00:42:01,520 --> 00:42:04,680 Speaker 1: to a party in the litigation. All of those are 754 00:42:05,000 --> 00:42:07,840 Speaker 1: cases in which you see most Supreme Court justices recusing 755 00:42:07,880 --> 00:42:11,279 Speaker 1: themselves in most cases. But the connection here is a 756 00:42:11,360 --> 00:42:14,239 Speaker 1: little bit more attenuated, and so I think therefore you 757 00:42:14,360 --> 00:42:17,480 Speaker 1: have to look at the particular case and see whether 758 00:42:17,680 --> 00:42:20,600 Speaker 1: or not there's a concrete interest rather than just a 759 00:42:20,640 --> 00:42:24,359 Speaker 1: sort of broad ideological interest. And that's New York law 760 00:42:24,440 --> 00:42:28,319 Speaker 1: professor Rebecca roy Face speaking at Bloomberg Student Grosso. Catch 761 00:42:28,400 --> 00:42:30,919 Speaker 1: more of that interview, plus analysis of the latest legal 762 00:42:31,040 --> 00:42:33,719 Speaker 1: news by listening to the Bloomberg Lawn Show at ten 763 00:42:33,800 --> 00:42:36,880 Speaker 1: pm Eastern Time. Are subscribing to the Bloomberg Law podcast, 764 00:42:37,160 --> 00:42:40,200 Speaker 1: and attorneys can find exceptional legal research and business development 765 00:42:40,239 --> 00:42:43,440 Speaker 1: tools at Bloomberg law dot com. And still ahead on 766 00:42:43,480 --> 00:42:45,640 Speaker 1: Bloomberg day Break, I check on the business headlines and 767 00:42:45,680 --> 00:42:47,680 Speaker 1: all the news you need to start your day. This 768 00:42:48,200 --> 00:42:48,840 Speaker 1: is Bloomberg