Speaker 1: By from the Bloomberg Interacted Berger's Studios. Is Bloomberg Daybreak
Speaker 1: for Monday, April four two. Coming up this hour, Negotiators
Speaker 1: from Russia and Ukraine prepared to resume peace talks. At
Speaker 1: the same time, Kiev accuses Kremlin forces of war atrocities
Speaker 1: on the economic front, and news survey finds the US
Speaker 1: poise for recession next year, and a prominent Wall Street
Speaker 1: strategist says that bear market rally and stocks is over.
Speaker 1: Resident Biden calls for Congress to act on guns after
Speaker 1: the Sacramento shooting. Plus Broadways McBath has been halted after
Speaker 1: Daniel Craig gets COVID, I like labar more ahead, I've
Speaker 1: stashower and sports easy win for the next shootout loss
Speaker 1: for the Rangers. South Carolina won the women's NC double
Speaker 1: a the men late tonight. That's all straight Ahead on
Speaker 1: Bloomberg day Break on Bloomberg ELEMENTARYO, New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine Sixties,
Speaker 1: San Francisco, Sirius x M one nine Team, and around
Speaker 1: the World Old on Bloomberg Radio dot Com and via
Speaker 1: the Bloomberg business and good Monday morning. I'm Nathan Hagar
Speaker 1: and I'm Karen Moscow's and p Future are starting the
Speaker 1: week little change. We're coming up to five on one
Speaker 1: on Wall Street, and we check the markets every fifteen
Speaker 1: minutes throughout the trading day. On Bloomberg again, SMP futures
Speaker 1: are a little change this morning. Dal Future is down
Speaker 1: fifty five and NASDAK futures are up fourteen and the
Speaker 1: decks in Germany is down four tenths of upper set.
Speaker 1: The tenure treasury is down one thirty second, the yel
Speaker 1: two point three eight percent. They yield on the two
Speaker 1: year two point four four percent. Nathan, all right, Karen,
Speaker 1: we'll have more on the markets in a minute. First,
Speaker 1: the latest on the war. Negotiators from Russia and Ukraine
Speaker 1: may resume video talks today. Meantime, the US and Ukraine
Speaker 1: are calling on international courts to investigate potential war crimes
Speaker 1: in the cities around Kiev. Bloomberg's Ed Baxter has the details.
Speaker 1: Secretary of State Anthony B. Lincoln says the videos that
Speaker 1: Ukraine released are all arming. We can't become none to this,
Speaker 1: we can't normalize this um. This is the reality of
Speaker 1: what's going on every single day, and through a translator,
Speaker 1: President Vladimir Zelenski says the investigation has to go further
Speaker 1: than ju Vladimir putting all the military commanders, everyone who
Speaker 1: gave instructions and orders should be punished. Zelenski says the
Speaker 1: atrocities go way beyond torture. In San Francisco, I'm at
Speaker 1: Baxter Bloomberg Daybreak, greaight, and thank you at The European
Speaker 1: Union is also speaking out on the war. Some of
Speaker 1: you governments want to impose more sanctions following allegations of
Speaker 1: Russian war crimes. Be go live to London and get
Speaker 1: the latest from Bloomberg's You in pots Good Morning, You
Speaker 1: in Good Morning count and Nathan As Ukraine sites evidence
Speaker 1: of war crimes in the country's north. Bloomberg understands more
Speaker 1: European sanctions are being discussed. The European Commission is focusing
Speaker 1: on closing loopholes and strengthening existing actions such as export
Speaker 1: controls on technology goods. Also on the table sanctioning banks
Speaker 1: already cut off from the with global payment system, and
Speaker 1: expanding the list of individuals facing sanctions. Live in London,
Speaker 1: I'm your Potspo make Daybreak. Okay you and thanks. Let's
Speaker 1: turn from the war now and focus on the economy.
Speaker 1: Here in the US, a new survey calls for a
Speaker 1: recession as soon as next year. Let's get the latest
Speaker 1: live from Bloomberg's Grenida Young. Good morning, Grinita, Good morning Nathan.
Speaker 1: Close to half of financial professionals and retail investors see
Speaker 1: a US recession next year. That's according to results of
Speaker 1: our Bloomberg Markets Live weekly survey. Only fifteen percent, so
Speaker 1: it could happen this year. Pardon me, uh flag four
Speaker 1: and sixteen percent see a US recession waiting until twenty
Speaker 1: five or later. Just over half of the five twenty
Speaker 1: five respondents believe the inversion between two and ten year
Speaker 1: treasury yields is the most likely warning signal among yield
Speaker 1: curve inversions. Live in New York. I'm Renita Young, Bloomberg
Speaker 1: day Break. A right, Granita, thank you, And how will
Speaker 1: the Fed respond to the current economic climate? We get
Speaker 1: some glue this week with the marks from several officials
Speaker 1: and here with Morris Bloomberg's Charley Pellet. Tomorrow, FED Governor
Speaker 1: Lele Brainerd takes part in a virtual discussion on the
Speaker 1: unequal impacts of inflation. It's hosted by the Minneapolis Fed.
Speaker 1: On Wednesday, Philadelphia FED President Patrick Harker discusses the economic outlook.
Speaker 1: On Thursday, St. Louis FED President Jim Bullard will discuss
Speaker 1: the economy and military policy. Also Thursday, Raphael Bostick of
Speaker 1: the Atlanta Fed and Charlie Evans of the Chicago Fed
Speaker 1: will take part in an event on economic mobility and
Speaker 1: inclusive full employment in New York. Charlie Pellett Bloomberg Daybreak, Alright, Charlie,
Speaker 1: thank you. On Wall Street, it looks like there may
Speaker 1: be more pain ahead for stocks. That's according to one
Speaker 1: prominent strategist. Bloomberg's John Tucker joins us Live with the details,
Speaker 1: John and Nathan. The recent run up of the n
Speaker 1: SMP five hundred was nothing more than a bear market
Speaker 1: rally that has run its course. That's according to Morgan
Speaker 1: Stanley strategist Mike Wilson. He thanks the index as a
Speaker 1: rough mouth ahead as it became more vulnerable to slowing
Speaker 1: economic growth. In a note to clients, Wilson's defensive stocks
Speaker 1: remain the place to be. Morgan Stanley strategists are also
Speaker 1: more constructive on bonds than stocks over the New Yar term.
Speaker 1: They say thirty year treasuries offer an excellent hedge against
Speaker 1: the growth scare they expect from FED tightening. Lie to
Speaker 1: New York on John Tucker Bloomberg Daybreak, All right, John,
Speaker 1: thank you well. In pre market trading this morning, shares
Speaker 1: a TESLA of almost one percent. Over the weekend, The
Speaker 1: company said it delivered more than three hundred ten thousand
Speaker 1: cars worldwide in the first quarter. That's a record and
Speaker 1: came in above analysts estimates. With the same timecar and
Speaker 1: shares of Starbucks are down one percent in early trading.
Speaker 1: Founder Howard Schultz is making moves as he returns to
Speaker 1: the CEO post, suspending a share buyback plan, saying the
Speaker 1: cash could be better spent on stores and staff. Shelt
Speaker 1: sixty eight years old. He's taking over from Kevin Johnson
Speaker 1: on an interim basis while Starbucks searches for a permanent CEO.
Speaker 1: Stocks in Asia performed well over nine Nathan. That's after
Speaker 1: China made a conciliatory move that could remove a key hurdle,
Speaker 1: and it's fined with the US over auditing Chinese firms
Speaker 1: listed in New York. Let's you have the recap from
Speaker 1: Bloomberg's Juliette Sally and Singapore Good Morning, Juliette, Good Morning, Karen.
Speaker 1: The ms CI Asia Pacific Index gained after two sessions
Speaker 1: of losses, boosted by internet giants ten Cent and Ali Baba.
Speaker 1: The Hang Sang Take Index gained more than four percent
Speaker 1: intra day after China modified a decade long rule that
Speaker 1: restricted financial data sharing by offshore listed firms. Japanese shares
Speaker 1: were fairly unchanged, while stocks jumped in India on a
Speaker 1: financial sector merger, and markets in mainland China and Taiwan
Speaker 1: were closed for holidays. In Singapore, Juliette Sally, Bloomberg Daybreak, Okay,
Speaker 1: juliet Thanks. Let's turning to politics in the region now
Speaker 1: with a change on the way. In Hong Kong, chief
Speaker 1: executive Carrie Lamb says she will not run for a
Speaker 1: second term. Bloomberg Daybreak Asia anchor Brian Curtis has more.
Speaker 1: Lamb's announcement ends a tumultuous five years that saw Hong
Speaker 1: Kong become more isolated globally. I was due to a
Speaker 1: crackdown on pro democracy protests and rigid COVID nineteen restrictions.
Speaker 1: Lamb said she and four in Beijing last year that
Speaker 1: she would not run for a second five year term.
Speaker 1: On May eight, Brian Curtis Bloomberg Day Break. Okay, Brian,
Speaker 1: thanks SMP futures right now up two point staff futures
Speaker 1: down twenty NASTAC futures up thirty four. The tenure Treasury
Speaker 1: yield two point three nine. Straight ahead, your latest local
Speaker 1: headlines and the check of sports. This is Bloomberg. That's
Speaker 1: five oh seven on Wall Street. Were forty degrees in
Speaker 1: Central Park already seeing an accident on the southbound Van
Speaker 1: Wick by the Nassau Expressway. Details coming up in traffic.
Speaker 1: First Michael Barr with more on what's going on in
Speaker 1: New York and around the world. Good morning, Michael, Good morning, Nathan.
Speaker 1: President Biden says Congress must act on guns after the
Speaker 1: Sacramento shooting. Biden is calling for banning ghost guns, limiting
Speaker 1: gun manufacturer liability, immunity, and requiring background checks for all
Speaker 1: gun sales. Sacramento police say at least two shooters are
Speaker 1: at large after killing six people and wounding twelve others.
Speaker 1: Early Sunday, Mayor Darryl Steinberg says it's past time to
Speaker 1: deal with gun violence. It is beyond time to have
Speaker 1: the same conversation about guns in America. We have a sickness.
Speaker 1: It's a sickness in our country, It's a sickness in
Speaker 1: our culture. Meyer Steinberg says, so far, there is no
Speaker 1: motive for the shooting. New York Mayor Eric Adams talked
Speaker 1: about the gun violence. Adam says he talked to the
Speaker 1: President about the issue over the weekend. We really have
Speaker 1: to have a combination. We have to stop the flow
Speaker 1: of guns, but we must also do the job of
Speaker 1: getting it goes off the streets. That's only there now,
Speaker 1: and my anti gun unit they're doing that. Just a
Speaker 1: few weeks out, they removed over twenty something guns off
Speaker 1: the street. Adam spoke on CBS his Face the Nation,
Speaker 1: which can be heard Sundays on Bloomberg. Jerry's selection is
Speaker 1: to begin today, and the sentencing trial of Parkland, Florida,
Speaker 1: school shooter Nicholas Cruz, jurors will decide whether they're sentencing
Speaker 1: him to death for murdering seventeen people in the eighteen
Speaker 1: massacre can take place. He confess to opening fire at
Speaker 1: Marjorie's Stoneman Douglas high school and already pleaded guilty. US
Speaker 1: airlines are restoring service after bad weather and staffing issues
Speaker 1: contributed to more than thirty five hundred weekend flight cancelations.
Speaker 1: So far today, according to flight Aware, only about a
Speaker 1: hundred sixty two flights have been canceled. Daniel Craig's returned
Speaker 1: to Broadway in a new version of Macbeth has been
Speaker 1: temporarily halted after the actor contracted COVID. Nineteen performances are
Speaker 1: canceled through Thursday. John Batiste took home Album of the
Speaker 1: Year on airs at last night's Grammys. Ukrainian President Voladimir
Speaker 1: z Lensky appeared in a video message during the show
Speaker 1: asking for support for the war in this country. Tell
Speaker 1: the truth about the war on your social matters on TV.
Speaker 1: Support us in any way. You can't anybody not silence
Speaker 1: and then peaceful gone. Zelenski made his plead during the
Speaker 1: Grammys that were held in Las Vegas. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg quick Take,
Speaker 1: powered by more than twenty seven under journalist and analysts
Speaker 1: more than a hundred twenty countries. Michael Barron, this is Bloomberg.
Speaker 1: Nathan I'm Michael. Thanks come up to five ten on
Speaker 1: Wall Street time for the Bloomberg Sports Update. Good going
Speaker 1: to John Stay Nathan Perennial College basketball Powers meet to
Speaker 1: night in New Orleans and the n C Double A Championship.
Speaker 1: North Carolinas won the title six times Kansas three. That
Speaker 1: two teams met in the nineteen fifty seven final, Gatar
Speaker 1: Heels won fifty four to fifty three and tripled over time.
Speaker 1: South Carolina won the women's title in Minneapolis to forty
Speaker 1: nine over Yukon Gino Orima had been eleven and oh
Speaker 1: in championship games, I've been in the other locker room
Speaker 1: a lot of times, and so I know what that
Speaker 1: feels like. I can have been in this locker room,
Speaker 1: and I know what that feels like. In one team
Speaker 1: is going to be National's champion in Yuro teams nine
Speaker 1: and I think they deserved. They were the best team
Speaker 1: all year. Second championship for the game Cops Rangers at
Speaker 1: the Guard against the Flyers, a team the Rangers should beat.
Speaker 1: They did not tell behind three, nothing tied the game
Speaker 1: of three and the third including goals twelve seconds apart.
Speaker 1: Philadelphia won four three on a shootout goal by ex
Speaker 1: ranger Kevin Hayes. Islanders got a hat check from J. G. Pago.
Speaker 1: He had three goals early in the second period in
Speaker 1: the Aisles through the Devil's four to three easy win
Speaker 1: for the next one eighteen to eighty eight in Orlando,
Speaker 1: just the eighteenth ever trade between the Mets and Yankees,
Speaker 1: they swapped relievers met Gating, a lefty with the departure
Speaker 1: of Aaron Loup. They sent Miguel Castro to the Yanks
Speaker 1: for Joe Ellie Rodriguez. Yankees also sent reliever for Albert
Speaker 1: Abreo to Texas for catcher Close Trevino Tiger, What's calls
Speaker 1: himself a game time decision, unsure whether he'll play the Masters,
Speaker 1: suffered serious injuries fourteen months ago in that car accident.
Speaker 1: Had said recently he was just happy to have his
Speaker 1: limbs intact. The Tiger recently played at eighteen whole practice
Speaker 1: round to AUGUSTA Masters begainst Thursday. Hourly reports throughout on Bloomberg, Ridwan,
Speaker 1: John stash Allard Bloomberg Sports. Yes, indeed all right, John,
Speaker 1: thanks SMP futures right now at five point staff futures
Speaker 1: little change. Nanastack features up forty seven. The actions in
Speaker 1: the bond market once again this morning, with the ten
Speaker 1: year down three thirty seconds, the yield two point, yield
Speaker 1: on the two year two point four four and in
Speaker 1: Urgin of five and a half paces points. This is
Speaker 1: Bloomberg Bloomberg eleven three oh Weather mostly sunny today, mid
Speaker 1: fifties for highs will be in the upper fifties, with
Speaker 1: some late day rain possible Tomorrow rain a nd by
Speaker 1: Wednesday afternoon with hies pack near fifty five currently forty
Speaker 1: in Central Park markets. Headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business
Speaker 1: at and at Bloomberg Quick Tape He's a Bloomberg business
Speaker 1: lash and I'm Karen Moscow songs in Europe and US
Speaker 1: dot Indis. Futures are higher as traders away the latest
Speaker 1: developments in the Ukraine War, with a new push for
Speaker 1: Stiffer's sanctions on Russia overshadowing the planned resumption of peace talks.
Speaker 1: Check the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg Guess and P Futures are up six points
Speaker 1: down futures up seven. They're little changed and nownsday futures
Speaker 1: up fifty the decks in Germany as it will changed
Speaker 1: as well. Ten, your treasury down four thirty seconds. You
Speaker 1: have two point three nine per set yield on the
Speaker 1: two year two point four four percent NIMEX freude oil
Speaker 1: is it will change at n twenty six cents of
Speaker 1: barrel comes schoold is up four tens per cent or
Speaker 1: eight dollars forty cents. In nineteen thirty two, ten announced
Speaker 1: the euro on point one zero two six against the dollar.
Speaker 1: British found one point three one two zero the ends
Speaker 1: at one twenty two point six two and Bitcoin this
Speaker 1: morning lower down nine tens of upper cent and forty
Speaker 1: five thousand, nine hundred sixty dollars. And we are looking
Speaker 1: for reports on factory orders and durable goods orders at
Speaker 1: at ten o'clock Wall Street time. That's a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael, thank you very much. Karen. Both
Speaker 1: the US and Ukraine are calling on international courts to
Speaker 1: investigate potential war crimes in the city surrounding Key. President
Speaker 1: Biden is calling on Congress to act on guns after
Speaker 1: a mass shooting in Sacramento left six dead and twelve
Speaker 1: woom get South Carolina is captured did second national championship
Speaker 1: In the women's NZ Double A basketball tournament. The game
Speaker 1: Cocks shut down yukon STY nine. The men's n C
Speaker 1: Double A tournament final is tonight between Kansas and North Carolina.
Speaker 1: In the NBA, the nixt one Celtics beat the Wizards
Speaker 1: on one oh two. The Warriors were also winners. In
Speaker 1: the NHL, the Islanders beat the Devil's for three. The
Speaker 1: Rangers lost in the shoot out to the Flyers for three.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quittank, powered by more than twenty seven hundred
Speaker 1: journalists and antalists more than a hundred twenty countries. Michael
Speaker 1: barn this is Bloomberg. Nathan Okay, Michael. Thanks, It's five
Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak, and as we get ready to
Speaker 1: kick off the first full trading week of the second quarter,
Speaker 1: We're joined now by Lori Calvacina, head of US Equity
Speaker 1: Strategy at RBC Capital Markets. Lorie great as always to
Speaker 1: speak with you. Obviously a lot of focus for investors
Speaker 1: on the war developments and the growth pros bects for
Speaker 1: this economy. We have the two tang yield curve in
Speaker 1: a pretty strong inversion here. How much stock do your analysts,
Speaker 1: at least on the equity side put on the inversion
Speaker 1: of the yield curve? Well, thanks for having me, as always, Look,
Speaker 1: it's a great question. I actually asked my banks to
Speaker 1: this recently, and they're more focused on ten threes um
Speaker 1: and also frankly, you know, sort of looking across different
Speaker 1: sectors in different industries. I think our analysts tend to
Speaker 1: look at the preponderance of the evidence as opposed to
Speaker 1: any one particular indicator. And as we've got you know,
Speaker 1: kind of gotten ready for this upcoming recording season, I
Speaker 1: think one of the things that's really on a lot
Speaker 1: of our analysts mind is just how strong the characterizations
Speaker 1: of demand has been. And so far there aren't really
Speaker 1: any of the occasions that that characteriation of characterization of
Speaker 1: demands his weekend. And it's very hard, you know, to
Speaker 1: sort of anticipate heading into a recession when the descriptions
Speaker 1: of demand are so robust. So I think you know,
Speaker 1: our analysts are vigilant as m I um, but I
Speaker 1: think for now, the stock market has voted and the markets,
Speaker 1: you know, it's sort of acting like we are heading
Speaker 1: into a growth slow down as opposed to a recession. Well,
Speaker 1: we heard from Mike Wilson over Morgan Stanley saying that
Speaker 1: the bear market rally is he terms it is over,
Speaker 1: He's doubling down on a defensive bias. Is he calling
Speaker 1: this wrong? Look? I think it is very hard to
Speaker 1: get excited about defensive sectors at this point in time,
Speaker 1: despite all the worries that we have, you know, sort
Speaker 1: of highly noness e equity investors. And one of the
Speaker 1: reasons is that when we look at our models, defensive
Speaker 1: sectors like healthcare, consumer staples, utilities are already quite over
Speaker 1: valued relative to the broader market. If you look at
Speaker 1: where valuation opportunity is emerging, it's more on the growth
Speaker 1: side of the equation. So areas like consumer discretionary communication services,
Speaker 1: classic technology has seen valuation multiples really come in and
Speaker 1: picklical still look pretty cheap. So I understand, you know,
Speaker 1: sort of the impulse to kind of you know, kind
Speaker 1: of way into defensives here just given all the concern
Speaker 1: that are weighing on the market. From bottom US perspective,
Speaker 1: it's very difficult. And I will also tell you you know,
Speaker 1: and I know I've talked about it on this program before,
Speaker 1: but if you look at the sentiment ages and particularly
Speaker 1: a AII met bull bears um, they have recently been
Speaker 1: the low levels um that were the pandemic loads. I mean,
Speaker 1: just think about that for a moment um. The sentiment
Speaker 1: has been so bad um that it was worse than
Speaker 1: some of the days of the pandemic. And you know,
Speaker 1: I'm very mindful of that as we navigate this environment
Speaker 1: that a lot of the pressures in the market have
Speaker 1: already been baked in, and we don't really want to
Speaker 1: fall into that vicious for text of negativity on our side.
Speaker 1: They made some news late last week with your call
Speaker 1: Elver at RBC two downgrade energy stocks. What was behind that, so,
Speaker 1: you know, thank thanks for Austin is it was a
Speaker 1: very very tough call on our parent and but we
Speaker 1: we do have this sense that market leadership is shifting
Speaker 1: away from value and back to growth, and we've been
Speaker 1: thinking about this for quite some time. Last August we
Speaker 1: actually said we expected value to see a big surge
Speaker 1: and relative performance to start the year, but that by
Speaker 1: the time we got to make you we see the
Speaker 1: market leadership transition back to growth, and we've actually signaled
Speaker 1: recently we thought that transition was happening sooner. Um. You know,
Speaker 1: we've been overweight energy since January, and to be honest,
Speaker 1: it still looks good on our valuation models. Our inservisions
Speaker 1: are very strong, but we know that value really only
Speaker 1: works when the economy is hot, running above average. Growth
Speaker 1: tends to outperform when the economy is running cool and
Speaker 1: my economists recently cut his forecast to two and a
Speaker 1: half percent for this year. Consensus is also looking for
Speaker 1: less than less than trend for next year, a ground
Speaker 1: two point three percent, So we know the economy is
Speaker 1: cooling off. That naturally pushes leadership back towards growth. We
Speaker 1: also passed an important mile marker in the form of
Speaker 1: first said rate hype. Typically, growth leadership resumed after that.
Speaker 1: Value really worked ahead of the first hype. We had
Speaker 1: a decision to make what how we were going to
Speaker 1: take value exposure down. We surveyed our analysts and found
Speaker 1: that their conviction level on energy had simply come down
Speaker 1: relative to where it had been. They're still constructive, but
Speaker 1: not nearly as constructive as they as they have been
Speaker 1: based on the quarterly survey that we do with them
Speaker 1: that we just completed last week. About thirty seconds left here, Laurie,
Speaker 1: But do you expect that rotation from value into growth
Speaker 1: to continue if the FED is more aggressive with rate hikes.
Speaker 1: If we see like fifty basis point increases at multiple meetings,
Speaker 1: you know, we think the FED is already priced in
Speaker 1: from evaluation perspective. The economic damage that may happen from
Speaker 1: those types is not. So that's that's another question. It's
Speaker 1: something else we have to monitor. But we do think
Speaker 1: that the punchline from those hypes and that aggressive FED
Speaker 1: stance is cooling off economic growth, not necessarily tilting us
Speaker 1: into a recession, but the cool down on that economic
Speaker 1: growth is the fundamental catalyst that pushes the market back
Speaker 1: to growth. Thanks for this as always, Lorie, great having
Speaker 1: you with us. Lori Calvacina, head of US Equity Strategy
Speaker 1: at RBC Capital Markets. Right now, SMP futures are up,
Speaker 1: but just by six points. Now Future is up five
Speaker 1: NASTAC futures are higher by forty eight points. That's the
Speaker 1: gain of a third or one percent. To tend your
Speaker 1: treasury is down three thirty seconds. The yield two point
Speaker 1: three nine yield on the two year is higher by
Speaker 1: almost six basis points at two point four or four
Speaker 1: percent on a two year Treasury note. This is Bloomberg
Speaker 1: Bloomberg eleven three oh weathers mostly sunny today. Has your
Speaker 1: fifty five degrees late day rain possible tomorrow with a
Speaker 1: high near sixty. The rain will end by Wednesday afternoon
Speaker 1: with highs back in the mid fifties, currently forty in
Speaker 1: Central Park. Broadcasting live from the Bloomberg Interacted Broker Studio
Speaker 1: in New York. Bloomberg E Living free on to Washington,
Speaker 1: d C. Bloomberg to Boston Bloomberg one O six one
Speaker 1: to San Francisco Bloomberg and M sixty to the country
Speaker 1: sirius XM chto one nine and around the globe the
Speaker 1: Bloomberg Business APT and Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak. It's five thirty on Wall Street. Good morning,
Speaker 1: I'm Nathan Hager and I'm Karen Moscow or just about
Speaker 1: four hours away from the open of US trading. Let's
Speaker 1: get you up to date in the news you need
Speaker 1: to know at this hour. Russia and Ukraine may resume
Speaker 1: video talks later today. Even as Kiev accuses Kremlin forces
Speaker 1: of carrying out atrocities, Russia is dismissing images of executed
Speaker 1: unarmed civilians is fake. Ukrainian President Vladimir Zolenski says the
Speaker 1: war is destroying his country. We couldn't have imagined anything
Speaker 1: like this, because this is a maniac type of decision
Speaker 1: to destroy the whole nation. Zelenski spoke through an interpreter
Speaker 1: to face the Nation on CBS. You can catch the
Speaker 1: show every Sunday here on Bloomberg Radio. President Zelensky also
Speaker 1: made an appearance at the Grammys with a video message
Speaker 1: asking for more support our musicians where body armor instead
Speaker 1: of luxA. They seen to their wounded in hospitals, even
Speaker 1: to those who come fear them. But the music will
Speaker 1: break through anyway. Zelensky is accusing Russia of committing genocide
Speaker 1: in Ukraine. Some of your governments are pushing to impose
Speaker 1: more sanctions following allegations of Russia in war crimes, Nathan,
Speaker 1: but there's no consensus he yet on a new sanctions package.
Speaker 1: Jamie diamonds, also calling for more sanctions on Russia. Karen.
Speaker 1: That came in his annual letter to shareholders, where the
Speaker 1: JP Morgan Chase CEO also says the Fed may raise
Speaker 1: rates higher than markets expect. Meantime, Nathan, a new survey
Speaker 1: is calling for a recession next year. Let's get the
Speaker 1: latest line from Bloomberg's Real need a Young good morning,
Speaker 1: Good morning, Karen. Close to half of financial professionals and
Speaker 1: retail investors see a US recession next year. That's according
Speaker 1: to results of our Bloomberg Markets Live weekly survey. Only
Speaker 1: fifteen percent say it could happen this year, Flag four
Speaker 1: at the most likely timing. Just over half of the
Speaker 1: five twenty five respondents believe the inversion between two and
Speaker 1: ten year treasury yields is the most likely warning signal
Speaker 1: among yield curve inversions. Live in New York. I'm really
Speaker 1: need a Young Bloomberg daybreak, all right, We need a
Speaker 1: thanks so there could be more paint ahead for stocks,
Speaker 1: according to one prominent Wall Street strategist, Bloomberg's John Tucker
Speaker 1: Joe says, Live with that, John Morgan. Stanley's Mike Wilson
Speaker 1: says the current run up on the N S and
Speaker 1: P five hawd it was nothing more than a bear
Speaker 1: market rally that's run its course. He expects a rough
Speaker 1: month a hand for the index, telling investors to put
Speaker 1: their money into defensive stocks. And despite the pounding bonds
Speaker 1: have taken Morgan Stanley strategists are more constructive on bonds
Speaker 1: than stocks over the New York Term Live in New
Speaker 1: York on John Tucker Bloomberg Daybreak. All right, John, thank you.
Speaker 1: N S and P futures are a little change this morning,
Speaker 1: so we're down futures, Nasday Futures up thirty seven straight ahead,
Speaker 1: your latest local headlines, plus the check of sports. And
Speaker 1: this is Bloomberg, Right, Karen, thank you. It's five thirty
Speaker 1: three on Wall Street with thirty nine degrees in Central Park.
Speaker 1: We've got an accident on the inbound upper level the
Speaker 1: George Washington Bridge. Details on the delays coming up in traffic.
Speaker 1: First Michael Barr with more on what's going on in
Speaker 1: New York and around the world. Michael, thank you very much. Nathan.
Speaker 1: President Biden, it's calling on Congress to take action against
Speaker 1: gun crimes after six people were shot and killed early
Speaker 1: sun Day in downtown Sacramento, Police say three men and
Speaker 1: three women were fatally shot. Twelve others were wounded. Authorities
Speaker 1: say there were at least two shooters. Sacramento Mayor Darrel
Speaker 1: Steinberg says it's past time to deal with gun violence.
Speaker 1: This sickness will be cured Sunday in this country or
Speaker 1: we will destroy ourselves in this country near Steinberg says
Speaker 1: a motive has not been offered. Meanwhile, New York Mayor
Speaker 1: Eric Adams says he spoke to President Biden over the
Speaker 1: weekend about gun violence. Adam says his crime Task Force
Speaker 1: has been out on the streets collecting illegal weapons. Sevent
Speaker 1: those who were carrying guns had prior violent offenses. So
Speaker 1: we need to combine with that small number of people
Speaker 1: who are carrying guns with the large number of guns
Speaker 1: on a street and get both of us. Adams spoke
Speaker 1: on CBS his Face the Nation, which can be heard
Speaker 1: Sundays on Bloomberg. The Senate Judiciary Committee is set to
Speaker 1: vote today on confirming Judge Katangi Brown Jackson to the U. S.
Speaker 1: Supreme Court. Of full Senate vote is possible this week.
Speaker 1: It looks like President Biden has the votes to get
Speaker 1: his nominee to the Supreme Court Judge Jackson would be
Speaker 1: the first black woman confirmed to the nation's highest court.
Speaker 1: Daniel Craig's returned to Broadway and a new version of
Speaker 1: Macbeth has been temporarily halted after the actor contracted COVID nineteen.
Speaker 1: Performances are canceled through Thursday. Craig Stars and a revival
Speaker 1: of Williams Shakespeare's Tragedy. Other high profile shows on Broadway
Speaker 1: have had canceled shows due to their lead actors contracting
Speaker 1: the virus, including both The Music Man leads Hugh Jackman
Speaker 1: and Sutton Foster. John Battiste was the big winner at
Speaker 1: last night's Grammy Awards with five including Album of the Year.
Speaker 1: Silk Sonic took home Record of the Year. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven journalists analysts
Speaker 1: more than twenty countries. Michael Barr, this is Bloomberg. Nathan alright, Michael,
Speaker 1: Thanks Ball Street. Time for the Bloomberg Sports Update with
Speaker 1: John stenshown to Nathan Kansas in North Carolina tonight in
Speaker 1: New Orleans to the n C Double A Championship. Jayox
Speaker 1: have won the title three times in their history, Carolina
Speaker 1: six times. Not expected to win this year, Tarios were
Speaker 1: an eight seed because they lost five games by more
Speaker 1: than sixteen points. They lost at home to lowly Pit.
Speaker 1: But since that lost eleven and one, two wins over
Speaker 1: Duke and now Hubert Davis, the ex Nick has a
Speaker 1: chance to make history win a championship as a rookie
Speaker 1: head coach. I'm thinking about, are these kids, these players,
Speaker 1: and I told them that, Um, how happy I am
Speaker 1: did I get a front row seat just to be
Speaker 1: able to for them to go through this season and
Speaker 1: go through these experiences. It's a blessing for me. It's
Speaker 1: a privilege, it's an honor. Those are the things that
Speaker 1: I'm thinking about. Technically, Steve Fisher won a title with
Speaker 1: Michigan in his first year, but he was an interim
Speaker 1: coach of just taking over the teams. Women's championship in
Speaker 1: Minneapolis won easily by South Carolina sixty nine over you.
Speaker 1: On final week for the next playing out the String
Speaker 1: easy win by thirty in Orlando. R J. Barrett scored
Speaker 1: twenty seven at the Garden Rangers Trail Philadelphia three nothing,
Speaker 1: rallied to tie Nika's advantage. At a new Ranger. Andrew
Speaker 1: cop scored twelve seconds apart for the Flyers, one for
Speaker 1: three in a shootout. Islanders beat the Devil's also four
Speaker 1: three hat trick for j. G. Pezo. Islsa won four
Speaker 1: in a row, still eleven points out for a playoff spot.
Speaker 1: A rare met Yankee trade Miguel Castro to the Yanks
Speaker 1: Joe Ellie Rodriguez to the Mets at a swap of relievers.
Speaker 1: Yankees also sent reliever Albert Abreu to Texas for catcher
Speaker 1: Jose Travino. The Master's teas off Thursday reports throughout here.
Speaker 1: On Bloomberg Radio, will Tiger Awards play, He calls himself
Speaker 1: a gay time decision ban Scar Sword Bloomberg score. Maybe
Speaker 1: you know more reasonable? Listen? Okay, thanks John. It's five
Speaker 1: thirty seven on Wall Street Time for the Tri State
Speaker 1: Business Report. Here's Bloomberg's said. Corey the pizza principal, a
Speaker 1: mainstay of New York economics for more than four decades,
Speaker 1: says that a slice of cheese pizza will always be
Speaker 1: the same price as his subway ride, not anymore. Prices
Speaker 1: for plane slices are soaring about three bucks throughout the city.
Speaker 1: The Metropolitan Transportation Authority is freezing fairs at two dollars
Speaker 1: and seventy five cents. Friday's vote by workers in an
Speaker 1: Amazon warehouse to unionize was a watershed moment for the company.
Speaker 1: It's managed to keep unions out of its US operations
Speaker 1: for more than a quarter century. Unless the result is overturned,
Speaker 1: Amazon will have to start talks that could hamper its
Speaker 1: ability to adjust work requirements and scheduling on the fly.
Speaker 1: Federal Reserve Bank of New York President John Williams says
Speaker 1: well over two thirds of New York City's job losses
Speaker 1: have been reversed. He also says some sectors hit harnessed
Speaker 1: by the pandemic, though, continue to struggle that your Bloomberg
Speaker 1: Tries Day Business report, I'm Ed Corey said. It's five
Speaker 1: thirty eight on Wall Street. Bloomberg Radio is on the
Speaker 1: air from San Francisco to New York, London to Hong Kong.
Speaker 1: Let's check in with our global news team for some
Speaker 1: of the top stories heard on our three hundred affiliate
Speaker 1: radio stations around the world. I Steve Potaskan on ten
Speaker 1: ten Wins in New York. We're talking about big pay
Speaker 1: raises for company chief executives Courtney, Donaholan, Keral Dan Dallas
Speaker 1: travelers are rare to go and rising hotel prices aren't
Speaker 1: stopping time. Genus Servetti in for w CCO in Minneapolis,
Speaker 1: I'm reporting that hundreds of small independent drug stores are
Speaker 1: accusing United Health of short changing them by more than
Speaker 1: a hundred million dollars. Bid Cory on w o AI
Speaker 1: in San Antonio, I'm reporting that Toyotas sold nearly eleven
Speaker 1: thousand hundred pickups made of the city in March. And
Speaker 1: those are some of the stories. Are twenty seven hundred
Speaker 1: Bloomberg journalists and analysts are working on this morning around
Speaker 1: the world. It's five thirty nine on Wall Street. The
Speaker 1: following is an editorial from Bloomberg Opinion. This editorial was
Speaker 1: written by the Bloomberg Editorial Board. Among the few encouraging
Speaker 1: trends in American education during the pandemic has been the
Speaker 1: growth of public charter schools, where enrollment has and by
Speaker 1: seven percent. Fed Up with underperforming public schools, parents are
Speaker 1: voting with their feet. Unfortunately, the Biden administration appears intent
Speaker 1: on ignoring this warning sign. The Education Department has proposed
Speaker 1: new rules that would effectively bar charter school operators from
Speaker 1: receiving federal support if they open in areas where public
Speaker 1: school enrollment is declining. Those are the very communities where
Speaker 1: dissatisfaction with public schools is boiling over. Charter schools can't
Speaker 1: fix all of the problems facing the U. S public
Speaker 1: education system, but they are a lifeline for millions of
Speaker 1: students trapped in failing schools or at risk of dropping out.
Speaker 1: Biden should show he's on their side and scrap these
Speaker 1: wrong headed rules. This editorial was written by the Bloomberg
Speaker 1: Editorial Board. For more Bloomberg opinion, please go to Bloomberg
Speaker 1: dot com, slash opinion or ope I n go on
Speaker 1: the Bloomberg term at all. This has been Bloomberg Opinion.
Speaker 1: Listen for Bloomberg opinion editorials every weekday. At this time,
Speaker 1: terminal customers could read more at O P I n go.
Speaker 1: SMP futures up seven point, Stuff futures up twelve, Nasdaq
Speaker 1: futures higher by fifty three points. In the tenure Treasury
Speaker 1: yield two point three nine percent. This is Bloomberg Lumber
Speaker 1: eleven three oh weather mostly sunny, mid fifties today, upper
Speaker 1: fifties with late day rain tomorrow, the rain of end
Speaker 1: by Wednesday afternoon back to a high near fifty five.
Speaker 1: Right now thirty nine degrees in Central Park markets. Headlines
Speaker 1: and breaking news twenty four hours a day at Bloomberg
Speaker 1: dot Com, the Bloomberg Business Out and at Bloomberg Quick
Speaker 1: Tape is a Bloomberg Business Flash, and I'm parent. Moscow
Speaker 1: stops in Europe and US Dock Index futures are higher
Speaker 1: as traders the way the latest developments in the Ukraine War,
Speaker 1: with Pea stocks set to resume amid a new push
Speaker 1: for stiffer sanctions on Russia. We checked the markets every
Speaker 1: fifteen minutes throughout the trading day on Bloomberg Guess and
Speaker 1: P futures are up six points down futures that will change,
Speaker 1: NASDAG futures up forty eight. The decks in Germany is
Speaker 1: it will change ten. Your treasury down three thirty seconds.
Speaker 1: You have two point three nine percent. The yield on
Speaker 1: a two year two point four five per cent nive
Speaker 1: ex screute oil is down seven tenths per cent, or
Speaker 1: sixty seven cents at ninety eight dollars fifty seven cents
Speaker 1: of barrel the euro on one seven against the dollar,
Speaker 1: and bitcoin is lower down eight tenths percent at forty
Speaker 1: six thousand, twenty dollars. That's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael, thank you very much, Karen. Some European
Speaker 1: Union governments are pushing to quickly impose new sanctions in
Speaker 1: response to multiple reports that Russian troops executed unarmed civilians
Speaker 1: in Ukrainian towns. It comes at Ukraine sites more evidence
Speaker 1: of war crimes in the North Estelle Harris, who played
Speaker 1: George Costanza's mother on Seinfeld, has died. Harris, who also
Speaker 1: was the voice of Mrs potato Head in the toy
Speaker 1: Sty movies, was ninety three. South Carolina has captured as
Speaker 1: second national championship in the women's n C Double A
Speaker 1: basketball tournament. The game Cocks shut down yukon forty nine.
Speaker 1: The men's NZ Double A tournament final is tonight between
Speaker 1: Kansas and North Carolina. In the NBA the nixt one,
Speaker 1: the Celtics beat the Wizards one four, one oh two.
Speaker 1: The Warriors were also winners. In the NHL. The Islanders
Speaker 1: beat the Devil's for three, the Rangers lost in the
Speaker 1: shootout to the flyers. For three Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: in more than one D twenty countries. Michael Barr and
Speaker 1: this is Bloomberg. Nathan, Okay, Michael, thank you. It is
Speaker 1: five forty nine on Wall Street, Live from the Bloomberg
Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak, and we're joined
Speaker 1: once again now by Bloomberg News Executive editor for International Government,
Speaker 1: Rosalind math Us and Roz Good morning. Of course, we've
Speaker 1: all by now seen these horrifying images purportedly of civilian
Speaker 1: casualties in cities your key of that Russia has pulled
Speaker 1: out of We should note that Russia is calling these
Speaker 1: reports of civilian deaths fake. What's been confirmed about Ukraine's claims?
Speaker 1: Has anything been confirmed yet? Well, nothing has been confirmed,
Speaker 1: but obviously there's a big body of evidence out there,
Speaker 1: both in footage that was taken as Ukrainian forces went
Speaker 1: back into this town when it was vacated by Russia.
Speaker 1: That's been shared widely and of course by others and
Speaker 1: by Western media that's been going in there as well
Speaker 1: of images that you say are quite horrific that point
Speaker 1: toward what Europe and others in the US say could
Speaker 1: be war crimes committed by Russian troops in that town. Certainly,
Speaker 1: images of bodies in the streets, bodies tied up, are
Speaker 1: people with their hands tied behind their backs, quite distressing
Speaker 1: in the extreme, and of course pressing Europe and others
Speaker 1: than to respond more forcefully to Russia perhaps, and they
Speaker 1: have so far in terms of economic pressure on Russia
Speaker 1: for its actions inside Ukraine. And that's where the conversations
Speaker 1: really going to center in Europe as what else they
Speaker 1: can do to try and pressure Russia to change its
Speaker 1: course in the war. Well, let's take a little bit
Speaker 1: of a deeper dive into what that conversation could look like.
Speaker 1: There have obviously been many sanctions imposed on Russian oligarchs,
Speaker 1: on Russian banks. Obviously the oil and gas sector seems
Speaker 1: to be a place where Europe feels pretty reticent about
Speaker 1: putting pretty strong sanctions. There is that on the table.
Speaker 1: Is Russian energy on the table? Now, Well, it's very
Speaker 1: hard to see that it can't come on the table
Speaker 1: at least for the conversation. You can see that nations
Speaker 1: in Eastern Europe, for example, just saying it needs to
Speaker 1: be the next step. You're seeing other countries including France
Speaker 1: UM indicating the same and certainly a lot of pressure
Speaker 1: that's going to come on Germany to open the conversation
Speaker 1: more forcefully about cutting off the types for Europe in
Speaker 1: terms of Russian oil and gas. Of course, Germany is
Speaker 1: the most exposed economy, the biggest economy in Europe. When
Speaker 1: it comes to this, it's been very reticent to do so.
Speaker 1: In fact, even today the Economy Minister was out this
Speaker 1: morning saying you can't act on this too quickly because
Speaker 1: the economic shock to Germany would be too great. But
Speaker 1: you can see a real conversation that's going to escalate
Speaker 1: here in terms of what Europe can do because they've
Speaker 1: madically they're not going to send troops into Ukraine, so
Speaker 1: what else can they do aside for military action to
Speaker 1: support Ukraine. UM. So you'll see a lot of pressure
Speaker 1: coming for conversation on that this week amongst the EU nations.
Speaker 1: And I guess there's an open question as well about
Speaker 1: how these claims affect the conversation if it comes up
Speaker 1: today between Russia and Ukraine. There's been some talk that
Speaker 1: there's going to be more negotiations by video today. You've
Speaker 1: got to wonder how what kind of basis there can
Speaker 1: be for an asotiations now when Ukraine is putting these
Speaker 1: kinds of horrific claims against Russia right now, Well, that's right,
Speaker 1: and it's possible though that there will be video talks today.
Speaker 1: Right now Ukraine is indicating that it's willing to keep
Speaker 1: those negotiations going because it's broader imperative is most important,
Speaker 1: which is to achieve somehow at least a temporary cease
Speaker 1: five that covers most of Ukraine, if not all of it,
Speaker 1: for at least forty eight hours, to allow some humanitarian
Speaker 1: aid to get in and out of some of the
Speaker 1: worst hit areas, and also to allow the safe movement
Speaker 1: of people, because we've seen that really struggle around towns
Speaker 1: like Mario Paul in the southeast of Ukraine, which has
Speaker 1: been under siege for weeks. No aid or very limit
Speaker 1: today coming in or out. So Ukraine says, despite what
Speaker 1: they're seeing in these towns in the north, as Russian
Speaker 1: troops leave, they feel the conversation has to continue at
Speaker 1: that higher level to try and achieve at least a
Speaker 1: temporary cease far as always Rose, thanks for joining us,
Speaker 1: Rosalind Mathis and Bloomberg News Executive editor for International Government,
Speaker 1: Karen Verry Nathan, Thank you. It is fifty three on
Speaker 1: Wall Street. Time for the Bloomberg Law Report, brought to
Speaker 1: you by American Arbitration Association. Business disputes are inevitable, resolve
Speaker 1: faster with the American Arbitration Association, the global leader in
Speaker 1: alternative dispute resolution for over ninety years. More at a
Speaker 1: dr dot org. That's yet at the llegal stories we're
Speaker 1: watching this morning from Bloomberg's Jeff Bellinger. A federal court
Speaker 1: ruled that Walmart must stop selling shoes that Van says
Speaker 1: are an entire slate of knockoffs of its old school
Speaker 1: skate shoes. A federal judge in California rule that Facebook
Speaker 1: will face a trial over whether it collects and uses
Speaker 1: biometric data of Illinois residents who do not have Facebook accounts,
Speaker 1: but the scope of the suit was trimmed. The Federal
Speaker 1: Circuit revived a patent infringement suit against Nintendo related to
Speaker 1: the synchronizing of data streams with its game controllers, Bloomberg
Speaker 1: Law everything you need, all on one legal research platform,
Speaker 1: including guidance analysis and Bloomberg Market Intelligence. Find out more
Speaker 1: at Bloomberg Law dot com. All right, Jeff, thank you Now.
Speaker 1: Another legal story where watching brings us to Supreme Court
Speaker 1: Justice Clarence Thomas. He's facing calls to recuse himself from
Speaker 1: cases involving election disputes or the January sixth insurrection. That's
Speaker 1: after revelations at his wife, Jenny Thomas repeatedly pushed to
Speaker 1: overturn the presidential election in a series of texts with
Speaker 1: former White House Chief of Staff Mark Meadows. For more
Speaker 1: in the matter, Bloomberg student Grasso speaks to Rebecca roy Fee,
Speaker 1: or professor at New York Law School. Rebecca, what are
Speaker 1: the rules for recusal that Supreme Court justices follow? There
Speaker 1: are rules that are drafted for all judges, and those
Speaker 1: rules require a judge to disqualify himself for herself whenever
Speaker 1: that judge's impartiality might reasonably be questioned. But that's a
Speaker 1: really broad rule, and in or are there are some
Speaker 1: more specifics about when judges normally recused themselves, and the
Speaker 1: general proposition is interpreted in light of those more specific rules.
Speaker 1: And one thing that's kind of important also is that
Speaker 1: Supreme Court justices are a little bit different than other
Speaker 1: judges in that there is no one to take their
Speaker 1: place when they recuse themselves, and so for that reason,
Speaker 1: it's generally a good idea for judges to be a
Speaker 1: little bit more conservative about exercising their discretion to recuse
Speaker 1: themselves in particular cases. So, according to the texts that
Speaker 1: have been revealed, Jenny Thomas weighed in on Trump's legal
Speaker 1: team legal strategy. She was actively involved in trying to
Speaker 1: get the election overturned. Justice Thomas participated in two cases
Speaker 1: related to election. He was the only justice who dissented
Speaker 1: when the Supreme Court allowed the release of records from
Speaker 1: the Trump White House to the many Should he have
Speaker 1: recused himself from those cases? My view in this manner
Speaker 1: is that for the case having to do with the emails, specifically,
Speaker 1: Justice Thomas, if he knew that his wife had emails
Speaker 1: that were at issue in that case, should have recused
Speaker 1: because in that case then she might have had an
Speaker 1: actual interest, so more than just sort of her own
Speaker 1: ideological agenda, she might have had a personal interest, either
Speaker 1: criminal liability, civil liability or at least, you know, personal
Speaker 1: embarrassment at issue in that case, and so it seems
Speaker 1: to me that he, if he knew, really should have recused.
Speaker 1: The other cases, for me are a harder call because
Speaker 1: what it is that is her interest is less concrete,
Speaker 1: and that makes it more difficult and not clear cut,
Speaker 1: because free I Court justices in the past, it's very
Speaker 1: clear that there's a record for recusing themselves in cases
Speaker 1: in which, let's say they have a financial and trust
Speaker 1: or a spouse has a financial interests, or they're connected
Speaker 1: to a party in the litigation. All of those are
Speaker 1: cases in which you see most Supreme Court justices recusing
Speaker 1: themselves in most cases. But the connection here is a
Speaker 1: little bit more attenuated, and so I think therefore you
Speaker 1: have to look at the particular case and see whether
Speaker 1: or not there's a concrete interest rather than just a
Speaker 1: sort of broad ideological interest. And that's New York law
Speaker 1: professor Rebecca roy Face speaking at Bloomberg Student Grosso. Catch
Speaker 1: more of that interview, plus analysis of the latest legal
Speaker 1: news by listening to the Bloomberg Lawn Show at ten
Speaker 1: pm Eastern Time. Are subscribing to the Bloomberg Law podcast,
Speaker 1: and attorneys can find exceptional legal research and business development
Speaker 1: tools at Bloomberg law dot com. And still ahead on
Speaker 1: Bloomberg day Break, I check on the business headlines and
Speaker 1: all the news you need to start your day. This
Speaker 1: is Bloomberg