Speaker 1: Live from the Bloomberg Interactive Brokers studios. This is Bloomberg
Speaker 1: day Break for Wednesday, March two. Coming up this hour,
Speaker 1: President Biden hits to Europe to push for tougher sanctions
Speaker 1: on Russia. Supreme Court Nominique Kasangi Brown Jackson's on Capitol
Speaker 1: Hill for day three of confirmation hearings, and global bomb
Speaker 1: markets suffer on present headed losses since peaking last year.
Speaker 1: New York City may lift rules requiring face masks for
Speaker 1: children under five, plus, a deadly tornado cuts a destructive
Speaker 1: path through New Orleans. I'm Michael barn Ahead, I'm John Stash,
Speaker 1: Aaron Sports, a loss for the Nicks, the win for
Speaker 1: the Alanders, the Devils beat the Rangers, and the top
Speaker 1: women's tennis player in the world is retiring. That's all
Speaker 1: straight Ahead on Bloomberg day Break on Bloomberg Elementoro, New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen
Speaker 1: and around the world Old on Bloomberg Radio dot Com
Speaker 1: and via The Bloomberg Business That good morning. I'm John Tucker.
Speaker 1: I'm Nathan Hagar futures are moving a bit lower this morning.
Speaker 1: We're coming up to five oh one on Wall Street.
Speaker 1: We check the markets every fifteen minutes during the trading day.
Speaker 1: On bloomberg SMB futures are down almost six points, Stout
Speaker 1: futures down forty four, Nastack futures lower by twenty points.
Speaker 1: The tenure treasury is up three thirty seconds. The yield
Speaker 1: two point three six percent heel than the two year
Speaker 1: two point one four nime X screwed up eight tenths
Speaker 1: per cent, or eighty five cents at a hundred ten
Speaker 1: dollars fifteen cents a barrel. John Nathan will have more
Speaker 1: in the markets in a minute, but first, the latest
Speaker 1: on the war. Ukraine's President Vladimir Zelinski says about one
Speaker 1: hundred thousand people remain in the besieged city of Meropol.
Speaker 1: There without food, water, in medicine, and are under constant bombardment. Meantime,
Speaker 1: President Biden heads to Europe to rally around tougher sanctions
Speaker 1: on Russia. More from Bloomberg's, said Baxter. National security advisor
Speaker 1: Jake Sullivan says the Biden trip this way will firm
Speaker 1: the plans he will join our partners in imposing further
Speaker 1: sanctions on Russia and tightening the existing sanctions to crack
Speaker 1: down on evasion and to ensure robust enforcement. And reports
Speaker 1: are that the Biden administration is preparing sanctions on most
Speaker 1: members of Russia's State Duma, the lower house of parliament,
Speaker 1: more than three hundred. They will be coordinated with the EU.
Speaker 1: In San Francisco, I'm at Baxter Bloomberg Daybreak. All right, ed, thanks,
Speaker 1: another major story where following brings us back to Capitol Hill,
Speaker 1: where it will be day three of Judge Katangi Brown
Speaker 1: Jackson's Supreme Court hearing before the Senate Judiciary Committee. Yesterday
Speaker 1: marked her first chance to field questions from senators. Amy
Speaker 1: Morris has details from our Bloomberg newsroom in Washington. Republican
Speaker 1: Senator Marsha Blackburn pressed Jackson on abortion and whether she
Speaker 1: would respect the Supreme Court's ruling and the event that
Speaker 1: the Court effectively guts rov Wade. Senator, whatever the Supreme
Speaker 1: Court decides in Dobbs will be the president of the
Speaker 1: Supreme Court, and I commit to treating it as say
Speaker 1: would any other president. Republican Senator Tom Cotton pressed Jackson
Speaker 1: on policing and the role of law enforcement. I asked
Speaker 1: the simple either or question, the United States need more
Speaker 1: or fewer police? Senator, The determination about whether there should
Speaker 1: be more or fewer police is a policy decision by
Speaker 1: another branch of government. It is not something that judges
Speaker 1: have control over. More questioning by senators is set for
Speaker 1: today in Washington. I'm anymore as Bloomberg daybreak and thanks Tommy,
Speaker 1: we turned from Washington to China. Now the latest details
Speaker 1: on the deadly plane crash this week. The China Eastern
Speaker 1: jet that crashed Monday was traveling close to the speed
Speaker 1: of sound just moments before it plunged into a hillside.
Speaker 1: Let's get more from Bloomberg Stephen Angle in Hong Kong.
Speaker 1: When the airplane is traveling at that speed, crashing into
Speaker 1: the ground, it obliterates everything, including potentially the flight and
Speaker 1: voice data recorders, the so called black boxes, which are
Speaker 1: actually of course orange, and those have not yet been
Speaker 1: found and that will be critical, of course to determining
Speaker 1: what exactly caused this mystery crash. Bloomberg Steven Angle reports
Speaker 1: all one two people on board the China Eastern jet
Speaker 1: died in the crash. We'll back here in the U
Speaker 1: S John For markets, it is all about the Fed.
Speaker 1: Central Bank officials are joining j Powell's hawk ish call
Speaker 1: on interest rates. Cleveland FED President Laretta Mester says more
Speaker 1: than a quarter point hike maybe needed. I don't think
Speaker 1: fifty basis points should be off the table. You know,
Speaker 1: my fung ate passes a little steeper than the median path,
Speaker 1: So if you do the math, you know, um, I
Speaker 1: think we're gonna probably need to move some some of
Speaker 1: those means. Mester joined St. Louis FED President Jim Bullard
Speaker 1: in calling for Quaker tightening. Bullard tells Bloomberg faster is
Speaker 1: better when it comes to rate hikes. What you have
Speaker 1: to do is move the policy rate up discreetly a
Speaker 1: fair amount, not to be too disrupt him, but I
Speaker 1: think fifty basis point moves will definitely be in the mix,
Speaker 1: and then get to a level that we can be neutral,
Speaker 1: and then from there we can decide if we want
Speaker 1: to be restrictive and put further downward pressure on inflation.
Speaker 1: Then Jim Bowler's reiterating his call for interest rates to
Speaker 1: go above three percent this year's Stay tuned for more
Speaker 1: from the Fed today. Will speak live with San Francisco
Speaker 1: President Mary Daily. That's coming up at eleven thirty am
Speaker 1: Wall Street Time on Bloomberg Radio and Television. Nasing the
Speaker 1: prospect of higher rates taking a toll on the bomb market.
Speaker 1: The Bloomberg Global Aggregate Index that's a benchmark for government
Speaker 1: and corporate debt total returns has fallen eleven percent from
Speaker 1: its high in January last year. That's the biggest decline
Speaker 1: from a peak in data. Stretching back to it equates
Speaker 1: to a drop in the index market value of about
Speaker 1: two point six trillion dollars. And when it comes to
Speaker 1: sucks John, now is not the time to buy. That's
Speaker 1: according to Muhammad al Aria, the Bloomberg opinion columnist and
Speaker 1: chief economic advisor at Alliance, says investors need to pair
Speaker 1: their holdings. If I'm investing over the next twelve month horizon,
Speaker 1: I would whose equities at this point, I would take
Speaker 1: some money off the table. I think the market is
Speaker 1: given you a wonderful opportunity to come out. Muhammad Hlarian
Speaker 1: says equity markets have yet to factor in what's to
Speaker 1: come for the economy, and speaking of the economy, with
Speaker 1: fresh data on wages this morning, a new studies shows
Speaker 1: a lot of Americans are still seeing pay below fifteen
Speaker 1: dollars an hour. Bloombergs rending Young joins US Live with details.
Speaker 1: Good morning, Nita, Good morning John. A report from Oxfam
Speaker 1: America finds one in three U. S workers is still
Speaker 1: making less than fifteen dollars an hour, and the share
Speaker 1: of women and people of color earning that amount is
Speaker 1: even greater. The report helps quantify how Americans could be
Speaker 1: impacted by the Raise the Wage Act, which would set
Speaker 1: a fifteen dollar federal minimum wage. The legislation is still
Speaker 1: pending in Congress now. While pcent of men earned less
Speaker 1: than fifteen dollars an hour, the figure is forty for
Speaker 1: women and fifty percent for women who are working of color.
Speaker 1: Live in New York. I'm Renita Young, Bloomberg Day Break.
Speaker 1: All right, we're renieda, thanks very much, and ahead of
Speaker 1: the CASHO on the Wall Street futures this morning, they're
Speaker 1: lower than our futures, down forty two points. That's a
Speaker 1: decline of about a tenth of a percent. Smp E
Speaker 1: many futures six points lower, and the NANSAC futures right
Speaker 1: now they are down twenty points. You're listening to Bloomberg
Speaker 1: Daybreak pan's five o seven on Wall Street. Let's bring
Speaker 1: in Michael Barne now with more on what else is
Speaker 1: going on in New York and around the world. John,
Speaker 1: thank you very much. New York City Mayor Eric Adams
Speaker 1: is preparing to lift requirements that children under the age
Speaker 1: of five where face masks in schools. We're announcing that
Speaker 1: if the numbers continue to show a low level of risks.
Speaker 1: Let me see that again. If the numbers continue to
Speaker 1: show a low level of risk, mask would be optional
Speaker 1: for two to four years old students in schools and
Speaker 1: in daycare. Adam says it will start April fourth, if
Speaker 1: case rates and the risk of the virus spreading remain low.
Speaker 1: Adams two weeks ago lifted several pandemic related rules, including
Speaker 1: requirements in place since the start of the pandemic that
Speaker 1: students five and older to wear masks in school. A
Speaker 1: new federal lawsuit accuses the NYPD of taking and storing
Speaker 1: DNA as part of an illegal and unregulated database. The
Speaker 1: lawsuit accuses the department of turning tens of thousands of
Speaker 1: people into quote, permanent criminal suspects. It happens when someone
Speaker 1: is arrested or brought in for questioning, and eats, drinks,
Speaker 1: or smokes while on the premises. The NYPD admits it
Speaker 1: collects DNA in this way, but says it is within
Speaker 1: the law. A large, destructive tornado struck the east side
Speaker 1: of New Orleans last night. St. Bernard Parish President Guy
Speaker 1: McGinnis says the damage is widespread. All that was lifted
Speaker 1: office foundation and put it to the lower street right
Speaker 1: around a colony. Parish President Guy McGinnis says at least
Speaker 1: one person was killed. The twister was part of an
Speaker 1: outbreak of severe thunderstorms across the Deep South and follow
Speaker 1: a siege of tornadoes and Texas. On Monday, Hillary Clinton
Speaker 1: tested positive for COVID nineteen and has some mild cold symptoms.
Speaker 1: According to a tweet, the former Secretary of State and
Speaker 1: former presidential candidate says she feels fine. Meanwhile, White House
Speaker 1: Press Secretary Jen Saki tested positive for COVID nineteen and
Speaker 1: will no longer travel with President Joe Biden to Europe.
Speaker 1: Zaki says she is experiencing only my old symptoms and
Speaker 1: will isolate for five days. Biden tested negative. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analyst
Speaker 1: in more than one hundred twenty countries. I'm Michael mar
Speaker 1: this is Bloomberg, John and some breaking news crossing the
Speaker 1: Bloomberg the Shinwall News Agency, and Shanna says the China
Speaker 1: Eastern Plains one black box has now been located. Details
Speaker 1: straight ahead, Michael, Thank you very much. Five ten Street
Speaker 1: tied out for the Bloomberg Sports Update Shower. Thanks John.
Speaker 1: The Knicks last season finished fourth in the East. This
Speaker 1: year they are twelfth, and any faint hopes of sneaking
Speaker 1: in the playoffs may have ended with the home loss
Speaker 1: to Atlanta, won seventeen to one. Eleven left the Knicks
Speaker 1: sixteens out, only ten to play. Trey Young lead the Hawks.
Speaker 1: Scored forty five points. Are j Barrett head thirty for
Speaker 1: the Knicks in Newark nightmare second period for the Rangers,
Speaker 1: Devil's wonted five nothing, scored all five in a thirteen
Speaker 1: minutes fan they won seven to four. Islanders won three
Speaker 1: nothing over Ottawa. Ash Party is the best women's CENIS
Speaker 1: player in the world, ranked number one. She just won Wimbledon,
Speaker 1: and the native Asse captured the Australian Open, but she's
Speaker 1: been tiring. At age twenty five, she's the anti Tom
Speaker 1: Brandy Barty says she no longer has the physical drive
Speaker 1: or the emotional wants. She's getting married. She says she's
Speaker 1: set to enjoy the next phase of her life. Baseball's
Speaker 1: opening day two weeks from tomorrow, Yankees hosts the Red Sox.
Speaker 1: Right now, the question is whether unvaccinate and Yankees will
Speaker 1: be allowed to play or will it be a Kyrie
Speaker 1: Irving situation. Not allowed to play home games due to
Speaker 1: the city's private employer mandate for in person work. May
Speaker 1: Or Adams said yesterday they may peel it back slowly,
Speaker 1: but that most businesses like the mandate. There's Yankee manager
Speaker 1: Aaron Boone. I still think there's a lot up in
Speaker 1: the air and a lot left to play out, and
Speaker 1: and we'll just see. But no, we haven't had a
Speaker 1: big group discussion on these kind of things, where again, um,
Speaker 1: I feel like Randy's on top of that and and that,
Speaker 1: and well, we'll see where it goes, and when it
Speaker 1: comes to time that we have to address it, we will.
Speaker 1: Boon reference Yankee president Randy Levine, who used to work
Speaker 1: in city Hall. Not known how many or which Yankees
Speaker 1: are unbacked. John Stash downward Bloomberg's voice, John, all right, John,
Speaker 1: thanks a lot ahead of the cash open the ball streets.
Speaker 1: Look at futures. They are in the red right now
Speaker 1: just slightly. You beat down futures down thirty nine points.
Speaker 1: That's a drop of a tenth of a percent. Smpe
Speaker 1: Mini futures five points slower. That's down the tenth of
Speaker 1: represent and that how does that key many futures right now?
Speaker 1: Twenty three? That is down troops. This is Bloomberg and
Speaker 1: the Bloomberg weatherports that I thickened in cloud showers arriving
Speaker 1: before evening, the high temperature to fifty tonight rain likely
Speaker 1: tomorrow occasional rain be high temperature to give a bid fifties.
Speaker 1: This is Bloomberg 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 he's a Bloomberg
Speaker 1: Business Flash. I'm Nathan Hagar. Futures are moving a touch
Speaker 1: lower this morning, while global equity markets climb, investors are
Speaker 1: expanding their search for hedges. As the FEDS strengthened resolved
Speaker 1: to clamp down, an inflation drove bonds towards record losses.
Speaker 1: We check the markets every fifteen minutes during the trading
Speaker 1: day on Bloomberg. Right now, SMP futures are down five
Speaker 1: points down, futures are down thirty five. NASTAC futures are
Speaker 1: lower by twin t seven points. The docks in Germany
Speaker 1: and the CAC in Paris both up two tenths of
Speaker 1: one percent. The tenure Treasury is up four thirty seconds.
Speaker 1: The yield two point three six percent yield on the
Speaker 1: two year two point one four percent. Nime X screwed
Speaker 1: is up nine tenths per cent, up ninety eight cents
Speaker 1: at a hundred ten dollars twenty five cents of arrol
Speaker 1: come X golds up three tenths per center, five dollars
Speaker 1: thirty cents at nineteen thirty two. Even announced the euro
Speaker 1: one point one zero one six against the dollar, the
Speaker 1: pound one point three two three five. The end is
Speaker 1: at one point nine four. At seven am all street time,
Speaker 1: we get NBA mortgage applications than at ten. It's February
Speaker 1: new home sales Sintas and General Mills are among companies
Speaker 1: scheduled to report earnings today. That's a Bloomberg Business Flash
Speaker 1: and now here's Michael Barrt with more on what's going
Speaker 1: on around the world. Good morning Michael, Good morning Nathan.
Speaker 1: There's breaking news. According to the Shenhua News agency, one
Speaker 1: black box has been located in the crash of a
Speaker 1: China Eastern plane with one hundred thirty two people on board.
Speaker 1: President Joe Biden's trip to Europe comes at a critical
Speaker 1: moment for the war and you Krane, which could become
Speaker 1: a bloody stalemate as Russia pummels cities with air striants
Speaker 1: and artillery. Biden departs today on a four day trip.
Speaker 1: He will meet with allies during a long day of
Speaker 1: meetings in Brussels tomorrow. NATO and the European Union and
Speaker 1: the Group of Seven Nations are all holding summits that day.
Speaker 1: Biden on Friday a schedule to continue on to Poland.
Speaker 1: In the NBA, the Knickson Warriors lost in the NHL.
Speaker 1: The Devil's beat the Rangers seven four, The Islanders won
Speaker 1: the Capitol's lost. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quick Tank powered by more
Speaker 1: than twenty seven under journalist and analyst more than twenty countries.
Speaker 1: Michael bar this is Bloomberg, John, Michael, thank you. Find
Speaker 1: twenty on the all streetwear line for the Bloomberg interrant
Speaker 1: to Brokers Studios. And this is Bloomberg Daybreak. This pretty
Speaker 1: big week on the diplomatic front as President Biden trous
Speaker 1: the Europe for Thursday's NATO meeting and the Ukraine's President
Speaker 1: Vladimir z Alinski he's gonna take part of via video
Speaker 1: for more, let's uh join with the professor Julie Norman
Speaker 1: of University College in London. Professor, thanks billiam with us. Hey,
Speaker 1: my first question is the resolve against Russia as strong
Speaker 1: and united as it appears to be on the surface. Well, John,
Speaker 1: that's certainly the image that the US and NATO allies
Speaker 1: are hoping to project this week. It's notable that they're
Speaker 1: having an in person meeting and in person meeting with
Speaker 1: heads of state in particular. One of the priorities for
Speaker 1: the Biden administration from the beginning of this crisis has
Speaker 1: been to project this sense of unity among allies that
Speaker 1: was before the invasion started. Throughout and then up through today,
Speaker 1: So one of the goals of this meeting. They will
Speaker 1: obviously be discussing substantive things as well, but it is
Speaker 1: just to project the sense of unity that the heads
Speaker 1: of state are coming together and are united. With that said,
Speaker 1: there are of course some disagreements among them which they
Speaker 1: will be discussing, including the types of military aid, the
Speaker 1: types of sanctions to continue um and how things may
Speaker 1: or may not escalate after this. So uh so there'll
Speaker 1: be a lot to discuss, but they're hoping that this
Speaker 1: meeting will at least send a message of a united
Speaker 1: front continuing. Is NATO strong at this point, Well, what
Speaker 1: we've seen obviously throughout this crisis that it's probably strength
Speaker 1: and NATO more than anything else has in recent decades. Obviously,
Speaker 1: there's going to be some disagreements among members. Many of
Speaker 1: the Eastern and Central European states would like an even
Speaker 1: more robust response to the crisis in Ukraine, additional types
Speaker 1: of military aid, including different kinds of fighter jets, even
Speaker 1: a no fly zone that Western Europeans in the US
Speaker 1: are not fully on board with. So some of those
Speaker 1: things will be discussed. But with that said, the way
Speaker 1: that the Alliance has come together wholeheartedly around sanctions, around
Speaker 1: just the idea of military aid more broadly, uh, and
Speaker 1: just just drowing up NATO itself. Throughout all this has
Speaker 1: probably strengthened the Alliance more than than anything else that
Speaker 1: we would have seen. You know, a potential Russian oil
Speaker 1: embargo that does raise the question of whether Europe can
Speaker 1: wean itself off Russian energy. Um, just how important is
Speaker 1: that front? Well, this is something that the Biden administration
Speaker 1: will probably raise, So the US and also Channons some
Speaker 1: other states have you know, have have put the sanctions
Speaker 1: on Russian oil. But that's a little bit easier for
Speaker 1: states in North American elsewhere to do than it is
Speaker 1: for Europe, and especially states like Germany and even Italy
Speaker 1: that are quite dependent on Russian oil. They have committed
Speaker 1: to reducing that dependence by two thirds by the end
Speaker 1: of the year. But I think we'll see a bit
Speaker 1: more pressing on what that actually means and if there
Speaker 1: can be some other steps that can be taken, perhaps
Speaker 1: sanctioning gas promers in the specific Russian companies and providers
Speaker 1: that are quite central in this industry. What else stands
Speaker 1: out for you? What are you particularly focused on right now. Well,
Speaker 1: I think what we'll also hear what NATO will discuss
Speaker 1: behind closed doors, and which we may not get many
Speaker 1: details on, is that you know what their potential response
Speaker 1: would be if Prutin does turn to use chemical weapons
Speaker 1: or what are sometimes called tactical nuclear weapons, so those
Speaker 1: that are kind of designed for battle field used. I
Speaker 1: think those steps would be unlikely still by Putin, but
Speaker 1: we know that there are possibilities, and that is something
Speaker 1: that the Biden administration really wants to make sure allies
Speaker 1: are on the same page with how they would respond. Again,
Speaker 1: Biden really does not want this conflict to escalate and
Speaker 1: to engage the US in particular or NATO, but a
Speaker 1: crossing of a kind of redline like something like that
Speaker 1: would probably warrant some kind of response, and NATO is
Speaker 1: going to have to try and figure out what that
Speaker 1: might be. One of the things that came out after
Speaker 1: the Cuban missile crisis in terms of nuclear weapons being
Speaker 1: used is that it was the tactical commanders on the
Speaker 1: ground there at the front in Cuba, the Soviet advisors
Speaker 1: who would have to say over that um. It just
Speaker 1: raises the specter of like things could get really complicated
Speaker 1: and really really dangerous very quickly. Absolutely, and that's obviously
Speaker 1: what the Biden administration NATO has been trying to avoid.
Speaker 1: That's one reason why they've been very clear in their messaging,
Speaker 1: uh something maybe to a fall alt in terms of
Speaker 1: making it very clear to Putin that they don't want
Speaker 1: to escalate this to any kind of level that would
Speaker 1: involve nuclear weapons. Uh. In my opinion, I think they're
Speaker 1: right to kind of air on that. We don't want
Speaker 1: to see it get to that point. And as you noted,
Speaker 1: with Russia right now, it's tricky. Even some of Putin's
Speaker 1: own military advisors who earlier and currently have spoken out
Speaker 1: against the kind of the strategies that he has employed. UM,
Speaker 1: I've been somewhat sidelined by Puttin himself, and it's uh,
Speaker 1: it's uncertain how much of a of a rationality we
Speaker 1: can expect from him at this point. Always a pleasure, professor,
Speaker 1: Thank you very much, Julie Norman, University College in London
Speaker 1: And ahead of the cashop on Wall Street. Look at
Speaker 1: futures this morning, kind of treading water down. Futures down
Speaker 1: just fifty four points and SMP immunate futures. They are
Speaker 1: seven points lower right now, and the nsday futures down
Speaker 1: twenty eight. Real action taking place in the Moon market's
Speaker 1: treasuries right now. The tenure yield UH seeing a decline
Speaker 1: of about one basis point right now at two point
Speaker 1: three six percent. You're listening to Bloomberg Daybreak Bloomberg Weather
Speaker 1: from meteorologist Rob Carol affechtning. Cloud showers will be here
Speaker 1: before evening today. The high temperature fifty be on Bloomberg tomorrow.
Speaker 1: Occasional rain high fifty to fifty five degrees croadcasting live
Speaker 1: from the Bloomberg Interactive Broker Studio in New York, Bloomberg
Speaker 1: Living Freedon to Washington, d C. Bloomberg to Boston, Bloomberg
Speaker 1: one o six one, does San Francisco, Bloomberg No. Sixty
Speaker 1: to the Country, Sirius XM chto one ninet and around
Speaker 1: the globe the Bloomberg Business apt and Bloomberg Radio dot Com.
Speaker 1: This is Bloomberg Daybreak. It's five thirty on Wall Street.
Speaker 1: Good morning, I'm John Tucker, Anna Nathan Hagar. We're just
Speaker 1: about four hours away from the open of US trading.
Speaker 1: Let's get you up to date. On the news. You
Speaker 1: need to know at this hour, President Biden is heading
Speaker 1: to your to rally allies around tougher sanctions on Russia
Speaker 1: for its invasion of Ukraine. We get the latest from
Speaker 1: Bloomberg senior reporter Mark Champion. What they are trying to
Speaker 1: do is to get ahead of what they know will
Speaker 1: be a continuing issue with Russia over Ukraine. So try
Speaker 1: and get ahead on issues like how do we make
Speaker 1: sure that the sanctions take real effect, how do we
Speaker 1: resolve at differences of that have to deal with energy,
Speaker 1: stick to the oil. Bloomberg's Mark Champion says President Biden
Speaker 1: will join back to back summits, first with NATO members
Speaker 1: in Brussels, then the Group of Seven and European Union.
Speaker 1: Meantime on Capitol Hill, Stay three of Judge Gatanji Brown
Speaker 1: Jackson Supreme Court hearing before the Senate Judiciary Committee yesterday
Speaker 1: marked her first chance to field questions from Congress and
Speaker 1: defend her record. My record demonstrates that I am not
Speaker 1: proceeding from any sort of preconceived notion about how a
Speaker 1: case comes out. Jackson pays questions from Republicans about her religion,
Speaker 1: critical race theory, child pornography and abortion. I'm not ruling
Speaker 1: consistent with any sort of ideology. I'm doing what impartial
Speaker 1: and fair judges do, which is to decide in every
Speaker 1: case based only on the facts and the law. Jackson
Speaker 1: returns to Capitol Hill for more questioning today. All right,
Speaker 1: turning to markets now, John, Global bonds remain under heavy pressure.
Speaker 1: The Bloomberg Global Aggregate Index, the benchmark for government in
Speaker 1: corporate debt total returns, has fallen eleven percent from a
Speaker 1: high in January last year. That is the biggest decline
Speaker 1: from a peak in data, stretching back to with the
Speaker 1: bond market and focus, tune in today for more from
Speaker 1: the Fed. We speak live this morning with San Francisco
Speaker 1: President Mary Daily. Catch that eleven thirty a m. Wall
Speaker 1: Street Time. I meantime, A new study shows many Americans
Speaker 1: are still seeing wages below fifteen dollars an hour. Bloomberg
Speaker 1: Grinida Young joins us live with the details. Good morning Granita,
Speaker 1: Good morning Nathan. A report from Oxfam America finds one
Speaker 1: in three U. S workers is still making less than
Speaker 1: fifteen dollars an hour, and the share of women and
Speaker 1: people of color earning that amount is even greater. The
Speaker 1: report helps quantify the impact from the Raise the Wage Act,
Speaker 1: which would set a fifteen dollar federal minimum wage. The
Speaker 1: legislation is still pending in Congress. Live in New York.
Speaker 1: I'm gonna need a young Bloomberg day break, need to
Speaker 1: thanks SMP futures down down eleven points. Style futures down
Speaker 1: seventy eight. Nastaic futures are lower by forty three points.
Speaker 1: The tenure treasury is up five thirty seconds. The yield
Speaker 1: two point three six Straight ahead, your like thisst local
Speaker 1: headlines and sports. This is Bloomberg and its thirty three
Speaker 1: on Wall Street. Let's bring in Michael barn Now with
Speaker 1: more on what else is going in New York and
Speaker 1: around the world. Jehn, Thank you very much, Sarah. New
Speaker 1: York City Mayor Eric Adams is preparing to lift requirements
Speaker 1: that children under the age of five ware face masks
Speaker 1: in schools. Adams says that he will make masks optional
Speaker 1: for those in daycare and pre kinder are starting April fourth,
Speaker 1: if case rates and the risk of the virus spreading
Speaker 1: remain low. And let me tell you something, it doesn't
Speaker 1: matter what decisions you make on this. You're going to
Speaker 1: have voiciferous people on both sides of the conversations, and
Speaker 1: so we we can't go by the noise. We have
Speaker 1: to go by the science, and we have to go
Speaker 1: by the safety about children. Two weeks ago, Mayor Adams
Speaker 1: lifted several pandemic related rules, including requirements in place since
Speaker 1: the start of the pandemic that students five and older
Speaker 1: wear masks in school. At least one person is dead
Speaker 1: after a tornado tour through parts of New Orleans and
Speaker 1: its suburbs last night, flipping cars and ripping roofs off homes.
Speaker 1: Parts of St. Bernard Parish, which borders New Orleans to
Speaker 1: the southeast, appeared to take the brunt of the twister.
Speaker 1: Louis Pomas is the St. Bernard Parish road Yard Chief
Speaker 1: of operations and didn't walk through all every street ever
Speaker 1: damage that we road Yard Chief Louis Thomas. The damage
Speaker 1: comes after other tornadoes spawned by the same storrom system
Speaker 1: hit parts of Texas and Oklahoma. White House Press Secretary
Speaker 1: Jensaki has tested positive again for COVID Szaki says she
Speaker 1: will no longer travel with the President, Joe Biden to Europe.
Speaker 1: The President has tested negative. Hillary Clinton says she has
Speaker 1: tested positive for COVID nineteen. In a tweet, Clinton says
Speaker 1: she has some mild cold symptoms but is feeling fine.
Speaker 1: A tele beneficial says the hard lined leadership of Afghanistan's
Speaker 1: new rulers has decided against opening educational institutions the girls
Speaker 1: beyond grade six. It is the first day of Afghanistan's
Speaker 1: new school year. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: twenty seven hundred journalists and analysts in more than a
Speaker 1: hundred twenty countries. I'm Michael bar This is Bloomberg, John, Michael,
Speaker 1: thank you, coming up on five thirty six on Wall Street.
Speaker 1: Time now for the Bloomberg Sports up to and here's
Speaker 1: all right, John. Last season ended for the Knicks for
Speaker 1: a loss at the Garden to the Tree Young lad
Speaker 1: Atlanta Hawks. Last night, Young was back scored forty five
Speaker 1: points led Atlanta to a one seventeen one eleven victory that,
Speaker 1: like the end of the Knicks already faint playoff hopes.
Speaker 1: R J. Barrett scored thirty. Knicks were without the injured
Speaker 1: Julius Randall got find forty thousand dollars for using hostile
Speaker 1: language towards a ref As if Randall's season hasn't gone
Speaker 1: poorly enough, He's now been fined a total of a
Speaker 1: hundred thirty thousand dollars. Rangers in New Jersey led to
Speaker 1: nothing second period and the Devil's scored five goals in
Speaker 1: thirteen minutes. Jack Us added two more in the third.
Speaker 1: Devil's won seven four Islanders three nothing shut out of Ottawa.
Speaker 1: N i T win for Xavior and St. Bonaventure. Book
Speaker 1: will come to the Garden next week for the n
Speaker 1: i T Final four and Port St. Lucy mets over
Speaker 1: the Marlins to nothing. Welcome back Jacob de Graham. He
Speaker 1: got six outs, five by strikeout to Graham's brilliant one
Speaker 1: season came to an end in early July. Jordan Montgomery
Speaker 1: roughed up Toronto beat the Yankees ninety two. Phase Squall
Speaker 1: is bringing back the ghost Runner. Extra innings will again
Speaker 1: begin with the run of at second base the phill
Speaker 1: It is with a shortened spring training is for the
Speaker 1: best not to have extra long games are also expanding
Speaker 1: the rosters. In April, stunning news from tennis world number
Speaker 1: one Ash Party announced her retirement. Don't have that in MUNI.
Speaker 1: I don't have the the physical drive, the emotional um
Speaker 1: want and and kind of everything it takes to to
Speaker 1: challenge yourself at the very top of the level anymore.
Speaker 1: And I think I just know that I'm absolutely I
Speaker 1: am spent um. I just know physically I have nothing
Speaker 1: more to cuts only twenty five. She did step away
Speaker 1: from tennis once before. John Stashower, Bloomberg Sports. John, all right,
Speaker 1: thanks John. Five seven on Wall Street Time now for
Speaker 1: the Trying State Business report. For that, we're joined by
Speaker 1: Bloomberg's Quarry. Last month, four thousand and seventy eight homes
Speaker 1: were listed for sale across New York City, according to
Speaker 1: street Easy. That's the most ever recorded in February by
Speaker 1: the company. The previous high with three thousand, five hundred
Speaker 1: thirty eight and February sixteen thousand, six hundred twenty New
Speaker 1: York City homes were for sale in February. Manhattan apartment
Speaker 1: rentals are booming and sales are reaching record levels, but
Speaker 1: offices in Midtown are attracting barely one third of pre
Speaker 1: pandemic workforces. Chris Jones, Senior Research fellow at the Regional
Speaker 1: Plan Association tells the Wall Street Journal Midtown is going
Speaker 1: to have to reinvent itself. The proposed Gateway rail tunnel
Speaker 1: between New York and New Jersey is expected to compete
Speaker 1: for some of the two point nine billion dollars in
Speaker 1: grants that the Biden administration is making available for projects
Speaker 1: of regional or national significance. That's according to Transportation Secretary
Speaker 1: Pete Buddha j Edge. That your Bloomberg Try State Business Report.
Speaker 1: I'm Ed Corey's five thirty eight on Wall Street. Bloomberg
Speaker 1: Radio is on the air from San Francisco to New York,
Speaker 1: London to Hong Kong. Let's check in now whether Global
Speaker 1: News team for some of the top stories heard on
Speaker 1: our three hundred of Filigate radio stations around the world.
Speaker 1: I'm Steve Poto Scan on ten ten Wins in New York.
Speaker 1: We're talking about how the pandemic surgeon tipping looks to
Speaker 1: be slowing down. Um Corney Datahoe on khr H in Houston.
Speaker 1: One in three American workers earns less than fifteen dollars
Speaker 1: an hour. I'm Gina Servettian for w BBM in Chicago.
Speaker 1: I'm reporting that FDA inspectors found on sanitary conditions at
Speaker 1: an Abbot Labs plant that makes infant formula, five months
Speaker 1: before the company conducted a recall of products associated with
Speaker 1: the deaths of two babies. I'm Caroline had come bloom
Speaker 1: Bag Dad additional radio in London. We're reporting on a
Speaker 1: thirty year high for UK inflation as the Chancellor announces
Speaker 1: his mini budget in the spring statement. I'm dcoring on
Speaker 1: w w J and Detroit. I'm reporting shares of auto
Speaker 1: makers fell on Monday on supply chain here and those
Speaker 1: are some of the stories are twenties seven hundred Bloomberg
Speaker 1: journalist and analysts are working on this morning around the world.
Speaker 1: It's five thirty nine on Wall Street. The following is
Speaker 1: an editorial from Bloomberg of opinion. Russia's invasion of Ukraine
Speaker 1: has reminded the US and Europe that their alliance matters.
Speaker 1: Their united response to the war should alert them to
Speaker 1: something else. That resilience depends on economic cooperation, not just
Speaker 1: security commitments. In that light, reviving installed talks on a
Speaker 1: free trade agreement is more urgent than ever. Negotiations over
Speaker 1: the Transatlantic Trade and Investment Partnership, which could have led
Speaker 1: to a fully formed US EU free trade area were
Speaker 1: halted during the Trump administration. With President Biden traveling to
Speaker 1: Europe this week, the time may be right to restart discussions.
Speaker 1: The Allies have a crisis to manage, of course, so
Speaker 1: commerce won't be at the front of anyone's mind. But
Speaker 1: Putent's war has shown just how crucial it is for
Speaker 1: the U. S And Europe to have strong partnerships that
Speaker 1: means cooperating on trade as well as security. This editorial
Speaker 1: was written by the Bloomberg Opinion editorial Board. I'm David Shipley.
Speaker 1: For more Bloomberg Opinion, please go to Bloomberg dot com,
Speaker 1: Slash Opinion or Ope and go on the Bloomberg terminal.
Speaker 1: This has been Bloomberg Opinion and Bloomberg Opinion editorials can
Speaker 1: be heard every weekday at this time, and terminal customers
Speaker 1: can read more at OPE. I am go. You're listening
Speaker 1: to Bloomberg tape. Right and ahead of the open on
Speaker 1: Wall Street this morning, futures indicate a lower open down.
Speaker 1: Futures down to eighty few points, smp E Mini futures
Speaker 1: thirteen points lower. The Men's and futures are down fifty
Speaker 1: three markets headlines and breaking news twenty four hours a
Speaker 1: day at Bloomberg dot Com, The Bloomberg Business and at
Speaker 1: Bloomberg Quick Tape. This is a Bloomberg Business Flash. I'm
Speaker 1: Nathan Hagar. Global equity markets are mixed this morning. Investors
Speaker 1: are expanding their search for hedges as the federal reserves
Speaker 1: strength resolved to clamp down. An inflation has driven bonds
Speaker 1: towards record losses. We checked the markets every fifteen minutes
Speaker 1: during the trading day on Bloomberg. Right now, SMP futures
Speaker 1: are down sixteen points, Stown futures down a hundred three
Speaker 1: nest Deck futures lower by sixty eight points. That's a
Speaker 1: drop of nearly a half percent. The tenure Treasury is
Speaker 1: up seven thirty seconds. The yield two point three five
Speaker 1: percent yield on the two year two point one two percent.
Speaker 1: NIMEX screwed is up one percent of a dollar ninety
Speaker 1: one at a hundred eleven dollars eighteen cents of barrel
Speaker 1: comex scold up four tenths percent of eight dollars forty
Speaker 1: cents at nineteen thirty five ten and ounce. The euro
Speaker 1: is at one point zero nine nine four against the dollar,
Speaker 1: British pound one point three to two four. The end
Speaker 1: is at one twenty point nine seven. Quick check a bitcoin,
Speaker 1: it's down one and a quarter percent on the session,
Speaker 1: trading right around forty two thou dollars. That's a Bloomberg
Speaker 1: business flash. And now here's Michael Barr with more on
Speaker 1: what's going on around the world. Michael Nathan, thank you
Speaker 1: very much. China says one of two black boxes from
Speaker 1: the China Eastern plane crash was found in severely damaged condition.
Speaker 1: One thirty two people were killed in the plane crash.
Speaker 1: President Joe Biden is seeking to rally US allies around
Speaker 1: harder hitting sanctions to punish Russia for invading Ukraine. Biden
Speaker 1: leaves today for back to back summits Thursday with NATO,
Speaker 1: the Group of Seven, and the European Union in Brussels,
Speaker 1: and the NBA the Knicks and Warriors lost Devils beat
Speaker 1: the Rangers seven for in the NHL Global News twenty
Speaker 1: four hours a day on here and on Bloomberg Quick Take,
Speaker 1: powered by more than twenty seven hundred journalists analysts in
Speaker 1: more than a hundred twenty countries. Now, Michael Barr, this
Speaker 1: is Bloomberg. John Michael, thank you, five forty nine on
Speaker 1: Wall Street. I'm John Sucker. This is Bloomberg Day Preak.
Speaker 1: The war in Ukraine has sparked a refugee crisis in Poland.
Speaker 1: Millions have fled Ukraine and are flooding into cities like Warsaw.
Speaker 1: It's an impossible situation for a lot of these refugees.
Speaker 1: It's also closing stress on these cities and towns of Poland,
Speaker 1: and now the mayor of Warsaw's warning the city's reaching
Speaker 1: a breaking point. Let's got a closer look at the
Speaker 1: situation right now, the special report from Bloomberg's Gregg Jarrett.
Speaker 1: We have Bloomberg reporters on the ground as the ever
Speaker 1: increasing flow of refugees stream into Poland, among them agg control.
Speaker 1: Poland is now looking at integrating these people into the
Speaker 1: labor pols, into the education system, and once they're here,
Speaker 1: it's important to see where they can go next. There's
Speaker 1: already a huge amount of people who have moved to
Speaker 1: Warsaw and to other European countries, and that's a key
Speaker 1: concern for the European Union going forward. After getting these
Speaker 1: people over the border, how they're able to find places
Speaker 1: to live and work more securely. There are many non
Speaker 1: governmental organizations also trying to help captain oleg somewhere. Linco
Speaker 1: of the Salvation Army and Warsaw is welcoming thousands, providing
Speaker 1: them with food, shelter, emotional and spiritual care, translation services
Speaker 1: and useful references for medical and legal advice. Is the
Speaker 1: closest country for them, and the language is almost the same.
Speaker 1: It's very similar, so we understand each other. For them,
Speaker 1: like Poland will be the main destination. And I think
Speaker 1: many years Poland was the country where Ukrainians would come
Speaker 1: to work. So many of them would already have somebody
Speaker 1: in Poland, like parts of family, daughter, mother, somebody who
Speaker 1: will work here, like for years. Some of them they
Speaker 1: standing in the in the cars to the border, and
Speaker 1: all one lady who has spent like five days sitting
Speaker 1: in the car, was a child patting on the queue
Speaker 1: to get to the border. What are conditions like today
Speaker 1: or as the number of people who are crowding in
Speaker 1: the poem from Ukraine increases exponentially, they say around one
Speaker 1: million and house now in the war, so we're think
Speaker 1: it's even more, you know, like our cities in Poland
Speaker 1: are not published you know, so these conditions are not
Speaker 1: the best one now, so people are stepping in a
Speaker 1: different shelters organized by government. They try to find a apartment,
Speaker 1: but it's very difficult now to rent apartment because people
Speaker 1: who rented apartments before two people who know that, they
Speaker 1: say like, well, we are afraid that in one apartment
Speaker 1: will leave like twenty people. So nobody wants to rent
Speaker 1: Ukrainian people because they're afraid that they will bring more
Speaker 1: Ukrainians to the apartment. I understand that most of Europe
Speaker 1: and most of the places these Ukrainian refugees are going
Speaker 1: are in hopes of integrating the population so they can
Speaker 1: go to work, so they can support themselves, so they
Speaker 1: can pay for things themselves. Are there some people that's
Speaker 1: more difficult for than others. I have people who are lawyers, doctors, teachers,
Speaker 1: you know, people who work on a really nice positions
Speaker 1: in Ukraine, but here because of lack of language, you know,
Speaker 1: they go to work like a cleaner, you know, they
Speaker 1: go to work in a restaurant for the kitchen in
Speaker 1: all like a helper. So they're really on a low position. Now, yeah,
Speaker 1: I think it will be more difficult for senior people
Speaker 1: it's always difficult to get any job for senior people
Speaker 1: even in normal days, if they are like black people.
Speaker 1: I would say, you know that if people are not
Speaker 1: Ukrainian white people in Poland, it could be this problem
Speaker 1: because Poland is a country over white country. So for
Speaker 1: many people they will be a little bit afraid, you know,
Speaker 1: they need the time until they will know you better.
Speaker 1: So and that's why in Solational Army we're actually trying
Speaker 1: to help them and we connect them with other people
Speaker 1: from Africa or Asia who live already here in Poland.
Speaker 1: What does the Salvation Army need to do its job
Speaker 1: in helping these people from Ukraine who are just trying
Speaker 1: to get out of the war's way. Sure, sure, of
Speaker 1: course without any help, you know, it would be very
Speaker 1: difficult for us. So we're really grateful for actually all
Speaker 1: donations were getting, you know, all requests to help us
Speaker 1: we're getting. But I think it would be amazing if
Speaker 1: people would like to help. So the contact you know,
Speaker 1: Sovational Army in the USA. Our thanks to Captain Oleg
Speaker 1: Samolenko of the Salvation Army in warsaw so Alenko says
Speaker 1: those wishing to help can find more information at Salvation
Speaker 1: Army U s A dot org. Continue to listen to
Speaker 1: Bloomberg Radio for the latest on the war in Ukraine
Speaker 1: and the humanitarian cost. I'm Greg jarre It Bloomberg Radio.
Speaker 1: All right, Greg, thank you. It's now five fifty three
Speaker 1: on Wall Street. Time. Now for a Bloomberg Law report.
Speaker 1: Let's get to the legal stories we're watching this morning.
Speaker 1: Here's Bloomberg's Jeff Balinger. California Governor Gavin Usom signed a
Speaker 1: bill that outlaws insurance deductibles and co pays for abortions.
Speaker 1: The law takes effect January one. A conservation group told
Speaker 1: an Arizona federal court that the e PA's water quality
Speaker 1: policies don't do enough to protect salmon sea turtles and
Speaker 1: other species from cadmium pollution. Noble nor Disc and nov
Speaker 1: Artist settled a patent infringement suit over the diabetes drug Victosa.
Speaker 1: The suit was scheduled for a bench trial and Delaware
Speaker 1: Federal court next month. Bloomberg Law everything you need, all
Speaker 1: on one legal research platform, including guidance analysis and Bloomberg
Speaker 1: Market Intelligence. Find out more at Bloomberg Law dot com.
Speaker 1: And now, another legal story we're watching is on Russia's
Speaker 1: invasion of Ukraine. Repeated attacks on civilian targets have led
Speaker 1: to calls to hold President Vladimir Putin and his subordinates accountable.
Speaker 1: The International Criminal Court has opened an investigation into war
Speaker 1: crimes in Ukraine. However, it's far from certain that Putin
Speaker 1: will be brought to justice under international law. For more
Speaker 1: on the matter, Bloomberg's June Grosso speaks to Kate McIntosh,
Speaker 1: executive director of the Promise Institute for Human Rights at
Speaker 1: u c L A school of law. What has to
Speaker 1: be proven to prosecute someone like Vladimir Putin? Do you
Speaker 1: have to show that his actions were intentional? What has
Speaker 1: to be shown you do? And I think that is
Speaker 1: the reason for the slight hesitancy in declaring that he
Speaker 1: is a war criminal before any proper investigation has taken place,
Speaker 1: and just based on reports of what we've seen occurring
Speaker 1: actually on the ground. Because intentionally directing military attacks against
Speaker 1: the civilian population or civilian targets like hospitals or the
Speaker 1: art school that we saw recently, or a museum, that
Speaker 1: would be a war crime. But the fact that these
Speaker 1: targets are hit during a conflict does not necessarily mean
Speaker 1: they were intentionally targeted, so it would be possible, I mean, frankly,
Speaker 1: this seems unlikely in the kind of situation we've seen
Speaker 1: reported in Ukraine. It would be possible for a legitimate
Speaker 1: target to be targeted and for there to be incidental
Speaker 1: or what we often hear of referred to as collateral damage,
Speaker 1: which actually wouldn't be a war crime as long as
Speaker 1: it wasn't completely out of whack, you know, completely disproportionate.
Speaker 1: So I think that's the hesitancy. So in order to
Speaker 1: find Laodim Recruiting or anybody else guilty of a war crime,
Speaker 1: it would have to be established that they intended, directed,
Speaker 1: or gave orders to the effect that something like civilians
Speaker 1: should be targeted, hospitals should be targeted, and Mariople actually
Speaker 1: is another example, because besieging a city or trying to
Speaker 1: inflict starvation on a civilian population is another war crime.
Speaker 1: So where that can be tied back to specific orders
Speaker 1: and direction, then a war crime is proved. That sounds
Speaker 1: like you would need someone on the inside who Putin
Speaker 1: is giving orders to, or who overheard what Putin was saying.
Speaker 1: It could come down to that. I mean, I've worked
Speaker 1: at the Yugoslavia War trans cribunial and also the Rwanda tribunals.
Speaker 1: So I've seen these cases, and in some cases it
Speaker 1: did rely on intercept or inside a witnesses to establish
Speaker 1: a chain of command. But the threshold is not necessarily
Speaker 1: that high. There's also legally a possibility that intention can
Speaker 1: be inferred, right if it's so obvious from the situation
Speaker 1: that there's no way anything else, any other intention could
Speaker 1: be inferred than that that instruction had been given. So,
Speaker 1: for example, if there is an attack on a hospital
Speaker 1: and there's nothing in the vicinity that could be in
Speaker 1: a legitimate military objective, there's no allegation that the hospital
Speaker 1: was being used as some kind of military headquarters, then
Speaker 1: we can infer that there was a deliberate intention to
Speaker 1: attack that hospital. Let's kid Nacontage, executive director of the
Speaker 1: Promise Institute for Human Rights and u c l A
Speaker 1: School Law, speaking with Bloomberg's June Grosso. Catch more of
Speaker 1: that interview, plus analysis of the latest legal news, by
Speaker 1: listening to the Bloomberg Law Show at ten pm Eastern
Speaker 1: Time on Bloomberg Radio or 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. Right now, SMP futures
Speaker 1: are extending their declines, down sixteen points down to how
Speaker 1: futures down A hundred four dance deck futures are lower
Speaker 1: by sixty three points. The Tenure Treasury is up seven
Speaker 1: thirty seconds yield two point three five percent, yield on
Speaker 1: the two year two point one one percent. Nime X
Speaker 1: screwed is up one and three quarters percent now, but
Speaker 1: dollar ninety at a hundred eleven dollars seventeen cents announced.
Speaker 1: Bloomberg Day Break continues with our top stories just ahead.
Speaker 1: This is Bloomberg. Good morning,