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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan

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Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: Karen, we begin with legal news involving Donald Trump. The

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Speaker 2: president elect has failed to convince a judge to set

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Speaker 2: aside his conviction in the New York hush money case

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Speaker 2: on presidential immunity grounds. New York State Justice Juan Mrshan

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Speaker 2: rejected Trump's argument the trial was tainted by testimony and

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Speaker 2: other evidence that should not have been allowed under a

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Speaker 2: July Supreme Court decision granting presidents brought immunity from criminal charges.

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Speaker 2: Bob van Vories is a legal reporter for Bloomberg News.

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Speaker 3: Jose Marshawn ruled that Trump had failed to preserve most

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Speaker 3: of the objections to the evidence that he objected to,

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Speaker 3: meaning that the judge is unable to rule on it

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Speaker 3: because he didn't know object at the time. He ruled

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Speaker 3: also that even if he had preserved those objections, they

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Speaker 3: would not fall within the immune.

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Speaker 2: To Bloomberg's Bob van Vores says it's unclear if the

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Speaker 2: case will proceede the sentencing, as the president dilect continues

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Speaker 2: to challenge the verdict. In May, Manhattan jury found Trump

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Speaker 2: guilty of falsifying business records to conceal a one hundred

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Speaker 2: and thirty thousand dollars payment to former adult film actress

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Speaker 2: Stormy Daniels before the twenty sixteen election.

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Speaker 1: Meanwhile, Nathan Trump spoke to reporters for over an hour

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Speaker 1: at his ma A Lago, Florida club, covering a wide

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Speaker 1: range of topics. He says, Ukraine needs to reach a

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Speaker 1: deal and the Russian invasion, You've got to be a deal.

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Speaker 4: Got to be a deal. Too many people being killed.

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Speaker 4: That is a war. That's too many people. Got to

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Speaker 4: make a deal. And Boom has to make a deal

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Speaker 4: to what's deal with.

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Speaker 1: Hours after Trump spoke, Ukraine claim responsibility for the assassination

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Speaker 1: of the head of Russia's Radiological, Chemical, and Biological Defense

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Speaker 1: troops and a bomb explosion in Moscow.

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Speaker 2: Another topic that reporters brought up Karen was drones. White

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Speaker 2: House officials they're still trying to ease concerns about the

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Speaker 2: thousands of sightings in New Jersey and other parts of

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Speaker 2: the Northeast. National Security spokesman John Kirby says there's no

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Speaker 2: reason for alarm.

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Speaker 5: Our assessment at this stage is that the activity represents commercial,

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Speaker 5: hobbyist law enforcement drones all operating legally and lawfully, and

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Speaker 5: or civilian aviation aircraft.

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Speaker 2: White House spokesman John Kirby says the FBI followed up

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Speaker 2: on one hundred tips out of the more than five

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Speaker 2: thousand it's received in recent weeks. President like Trump says

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Speaker 2: he thinks the White House knows more than it's saying.

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Speaker 6: They know where it came from and where it went,

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Speaker 6: and for some reason they don't want to comment, and

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Speaker 6: I think they'd be better of saying what it is.

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Speaker 6: Our military knows than our president knows, and for some

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Speaker 6: reason they want to keep people in suspense.

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Speaker 2: The President elect says he doesn't think it's the enemy,

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Speaker 2: but he suggested his new Jersey golf course could be

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Speaker 2: a target, saying they're flying very close to Bedminster Well Nathan.

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Speaker 1: President elect Trump also discussed immigration at Is mar a

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Speaker 1: Lago news conference. He threatened legal action against the vided

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Speaker 1: Administration for selling unused materials from his border wall with Mexico.

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Speaker 6: We're going to have to rebuild it, and it'll cost

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Speaker 6: double what it costs years ago, and that's hundreds of

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Speaker 6: millions of dollars.

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Speaker 1: The president elect was also asked if he's had preliminary

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Speaker 1: talks with Venezuela and other countries about his promised mass

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Speaker 1: deportation of millions of immigrants. Trump said, quote, they'll take

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Speaker 1: them back. Bloomberg News has learned Trump's transition team has

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Speaker 1: begun back channel talks with Mexico and El Salvador about

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Speaker 1: taking in undocumented migrants. Advisors involved in the effort include

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Speaker 1: incoming National Security Advisor Mike Waltz and Deputy Chief of

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Speaker 1: Staff Stephen Miller.

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Speaker 2: Current presidents like Trump also talked about his pick to

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Speaker 2: lead the Department of Health and Human Services, Robert F.

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Speaker 2: Kennedy Junior.

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Speaker 6: I think he's going to be much less radical than

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Speaker 6: you would think. I think he's got a very open mind,

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Speaker 6: or I wouldn't have put him there. He's going to

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Speaker 6: be very much less radical.

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Speaker 4: But there are problems.

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Speaker 6: I mean, we don't do as well as a lot

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Speaker 6: of other nations.

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Speaker 2: The president spoke as Kennedy kicked off meetings with Senate

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Speaker 2: Republicans ahead of his conformation hearings. Senator Mark Wayne Mullen

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Speaker 2: said after their meeting he plans to vote yes and

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Speaker 2: the Kennedy supports the polio vaccine, in his words, one

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Speaker 2: hundred percent. Kennedy also met with Florida Senator Rick Scott

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Speaker 2: and has more meetings this week with Lindsay Graham of

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Speaker 2: South Carolina and Senate Finance Chairman Mike Crapo.

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Speaker 1: Nathan, the CEO of TikTok, met with Trump at mar

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Speaker 1: A Lago on Monday, just weeks before the popular video

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Speaker 1: app is expected to be banned in the US over

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Speaker 1: national security concerns. The private meeting came just hours after

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Speaker 1: Trump suggested he'd somehow try to reverse the band to

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Speaker 1: save TikTok, which he used to reach young voters on

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Speaker 1: the campaign trail.

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Speaker 2: Turn back to markets now, Karen, as we watch futures

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Speaker 2: move lower a day after the Nasdaq one hundred closed

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Speaker 2: at an all time high. The moves come a day

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Speaker 2: before the final FED great decision of the year. Veronica

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Speaker 2: Willis is a global investment strategist at Wells Fargo Investment Institute.

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Speaker 7: I think we're going to move from the market being

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Speaker 7: excited about an easier FED to refocusing on excitement or

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Speaker 7: around economic growth. So I think through the early part

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Speaker 7: of twenty twenty five, the FED may still be able

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Speaker 7: to cut rates, but as we see growth strengthen and

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Speaker 7: as we see inflation maybe moving a little bit higher,

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Speaker 7: we're probably not going to be able to see the

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Speaker 7: Fed continuing.

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Speaker 2: To cut rate Well, As Fargo Investment Institute's Veronica Willis says,

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Speaker 2: the Fed is widely expected to cut rates a quarter

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Speaker 2: percentage point tomorrow. Stick with Bloomberg for full Fed coverage

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Speaker 2: on a special edition of Bloomberg Surveillance. The Fed decides

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Speaker 2: that's tomorrow, one thirty pm Wall Street Time on Bloomberg

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Speaker 2: Radio and television.

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Speaker 1: Well, Nathan, look for a tenure treasury yields to climb

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Speaker 1: under President Trump. That's the word from t ROW Price.

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Speaker 1: In fact, the firm says yields may climb to six

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Speaker 1: percent for the first time in more than two decades

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Speaker 1: as US fiscal woes worsen and Trump's policies help keep

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Speaker 1: inflation elevated. Tenure Treasury yield, which influences the pricing of

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Speaker 1: everything from corporate debt to mortgages, is currently trading at

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Speaker 1: four point four to two percent.

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Speaker 2: When it comes to interest rates. Overseas, Karen Traders see

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Speaker 2: fewer cut by the Bank of England. That's after data

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Speaker 2: showed UK wages rose more than forecast in the three

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Speaker 2: months through October, the implied chance of a third quarter

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Speaker 2: percentage point cut from the BOE in twenty twenty five

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Speaker 2: fell below fifty percent. That's down from ninety percent ahead

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Speaker 2: of the report.

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Speaker 1: And staying in Europe here Nathan. The Bank of France

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Speaker 1: has cut its domestic growth outlook, just days after President

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Speaker 1: Emmanuel mccron named the country's fourth prime minister in a year.

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Speaker 1: We get more from Bloomberg Senior editor Phil Serafino.

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Speaker 8: It's not great news. Growing economy can really help France

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Speaker 8: with a lot of its budget problems, and growth has

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Speaker 8: just not been great for a long time and it's

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Speaker 8: going in the wrong direction. The head of the Central Bank,

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Speaker 8: Francois de Luis de Gallo, is out doing media now

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Speaker 8: to talk about this report, and he's got a pretty

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Speaker 8: strong message also, which is that this political discord is

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Speaker 8: really a problem. There was a quote he said at

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Speaker 8: risk gradual economic decline, which is not something you want

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Speaker 8: to hear.

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Speaker 1: And Bloomberg's Phil Serafino says the French Central Bank now

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Speaker 1: expects only a ten percent expansion in twenty twenty five

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Speaker 1: instead of one point two percent had predicted in September.

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Speaker 1: And it's time now for a look at some of

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Speaker 1: the other stories making news in New York and around

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Speaker 1: the world. And for that we're joined by Bloomberg's John Tunker.

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Speaker 1: John Good Morning, Yeah.

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Speaker 9: Good morning, Karen. Another deadly school shooting, a fifteen year

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Speaker 9: old student killed a teacher and another teenager with a

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Speaker 9: handgun Bunday at a Christian school in Wisconsin. Madison Police

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Speaker 9: chief shown Barnes.

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Speaker 10: She was a student at the school and evidence suggests

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Speaker 10: she died from a self and afflicted gunshot warm Well.

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Speaker 9: The female student also wounded six others at a study

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Speaker 9: hall at the Abundant Life Christian School, including two students

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Speaker 9: who were in critical condition. And Canada, the Prime Minister

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Speaker 9: there Justin Trudeau's administration has been thrown into crisis. His

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Speaker 9: trusted deputy, the Finance Minister, Christia Freeland, published a withering

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Speaker 9: resignation letter. It left you to weekend at the worst

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Speaker 9: possible time to doing. His cabinet have been struggling for

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Speaker 9: weeks to show a united front. Donald Trump's threat to

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Speaker 9: slap twenty five percent tariffs on Canadian goods the president elected,

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Speaker 9: giving some hope to New York City Mayor Eric Adams.

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Speaker 9: Donald Trump was asked if he pardoned Adams, who's been

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Speaker 9: indicted on federal corruption charges.

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Speaker 4: Yeah, I would certainly look at it.

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Speaker 9: Bloomberg TV. Yesterday, Adams painted himself as a victim.

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Speaker 6: President Biden stated that his Justice Department has been politicized.

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Speaker 6: President Trump said that I said that.

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Speaker 9: Adams said he's moving forward and committed to running for

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Speaker 9: re election. We'll have more of his interview in a

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Speaker 9: few minutes. A major earthquake and Vanatu appears to have

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Speaker 9: damaged buildings in the Pacific onland Nation. The seven point

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Speaker 9: three magnitude quake strunk about nineteen miles from Vanadou's capital.

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Speaker 9: The US embassy has attained considerable damage. It's closed until

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Speaker 9: further notice. The y Shape Archipelago and the South Pacific

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Speaker 9: is home to about three hundred and thirty thousand people.

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Speaker 9: Global News twenty four hours day, whenever you wanted with

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Speaker 9: Bloomberg News. Now, I'm John Tucker and this is Bloomberg Karen.

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Speaker 1: All right, John, thank you time now for the Bloomberg

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Speaker 1: Sports update, brought to you by Tri State Outy. Here's

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Speaker 1: John Stashauer.

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Speaker 10: John, Good morning, Jim Morning Karen's been quite a season

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Speaker 10: in Minnesota. Vikings went just seven and ten last year

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Speaker 10: and drafted a new quarterback. JJ McCarthy got hurt, so

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Speaker 10: the Vikes turned to the journeyman Sam Donald and he's

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Speaker 10: been terrific. Ost in Chicago, Donald of the Vikings struck

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Speaker 10: in the first quarter. Reaction from Donaldson touchdown, Jefferson.

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Speaker 4: Shout out to Randy Boss after the.

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Speaker 8: Touchdown from Justin Jefferson his.

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Speaker 10: Eighth of the year, esping the call Randy Moss, the

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Speaker 10: former Vikings great, just reveal the s cancer in Minnesota

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Speaker 10: went on to win thirty to twelve, Now twelve and two.

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Speaker 10: With seven wins in a row and with Detroit's last Sunday,

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Speaker 10: there's a tie for first. In the NFC North. Atlanta

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Speaker 10: won in Las Vegas fifteen to nine Falcons and the

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Speaker 10: four game losing Streek. They're one game out. In the

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Speaker 10: NFC South, the Raiders are two and twelve. They're tied

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Speaker 10: with the Giants for the NFL's worst record. Kansas City

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Speaker 10: has the best at thirteen and one, hosting Houston Saturday.

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Speaker 10: May not have Patrick Maholmes has a mild high ankle

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Speaker 10: sprain there's no reason to think he won't be fine

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Speaker 10: for the playoffs. Blowout at Barkley's. Cleveland's got the NBA's

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Speaker 10: best record twenty three and four calves up by twenty

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Speaker 10: in the first quarter. They beat the Nets one thirty

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Speaker 10: to one oh one in Vegas. Tonight, it's Milwaukee and

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Speaker 10: Oklahoma City in the nd season NBA Cup Final. John

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Speaker 10: Stanshaward Bloomberg Sports, Karon.

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Speaker 1: Nathan all Right, John, thank you on Bloomberg day Break.

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Speaker 1: Brown to you by Audi. Visit your Trent State AUDI

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Speaker 1: dealer today and get behind the wheel of the Audi

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Speaker 1: model you've always wanted.

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Speaker 10: Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and.

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Speaker 9: Around the world on Bloomberg dot Com and the Bloomberg

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Speaker 9: Business app.

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Speaker 4: This is Bloomberg Daybreak.

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Speaker 2: Good Morning on Nathan Hagar. Donald Trump might not be

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Speaker 2: able to leave his legal issues fully behind him when

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Speaker 2: he returns to the White House next month. The New

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Speaker 2: York judge who's been overseeing the President elects hush money

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Speaker 2: case is leaving his felony convictions intact, though it's not

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Speaker 2: clear if the incoming President's going to have to face

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Speaker 2: sentencing over this for more and on all the political

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Speaker 2: headlines this morning. We are joined by Bloomberg News Senior

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Speaker 2: editor Bill Ferries. Bill, good morning. So where does this

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Speaker 2: decision leave the case now for President Electrump?

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Speaker 11: Well, good morning, Nathan. I mean it does leave it

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Speaker 11: in still a bit of a limbo. I mean Judge

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Speaker 11: Judge Murchon here in New York saying that basically the

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Speaker 11: immunity argument that Donald Trump and his lawyers have put

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Speaker 11: forward in this case really doesn't apply to this situation.

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Speaker 11: I mean, this is you know, you have to remember

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Speaker 11: back now it's almost eight years. This goes back to

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Speaker 11: the Stormy Daniel's case in the twenty sixteen election campaign.

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Speaker 11: Mrchon basically saying, none of the rulins from the Supreme

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Speaker 11: Court that deal with Donald Trump's immunity as president have

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Speaker 11: any bearing here. But the reality is that the you know,

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Speaker 11: the sentence is probably not going to happen or it's

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Speaker 11: going to be a lot of questions about whether he

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Speaker 11: could face even a fine at this point, which was

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Speaker 11: kind of the most likely scenario. So that's something that's

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Speaker 11: still going to play out. But it is a legal

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Speaker 11: setback for the president. It shows that there are some

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Speaker 11: limits to that immunity ruling that we got earlier this year.

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Speaker 2: Well, it doesn't seem like that legal cloud was much

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Speaker 2: of an impact for the President to elect. As he

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Speaker 2: held this wide ranging news conference at Amara Lago yesterday,

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Speaker 2: he really seemed to relish the President in waiting role.

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Speaker 11: Oh absolutely, I was putting down a list of everything

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Speaker 11: he hid in that. Besides, you know, there's TikTok and

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Speaker 11: return to office investments in the US pardons potentially for

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Speaker 11: the New York mayor the Iowa Polster. Going after that,

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Speaker 11: I mean, it was drones in New Jersey. I mean,

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Speaker 11: you can almost throw a dart at aboard and you'll

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Speaker 11: hit an issue that he raised there, But particularly of

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Speaker 11: interest was Ukraine and how his view that needs to

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Speaker 11: come to an end very quickly. Was very dismissive of

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Speaker 11: the idea that the US has allowed Ukraine to hit

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Speaker 11: targets deep within Russia, and he said there's got to

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Speaker 11: be a deal soon.

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Speaker 2: Well you have to wonder though, whether there's going to

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Speaker 2: be a deal with this latest development just this morning

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Speaker 2: that Ukraine's claiming responsibility for the assassination of a top

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Speaker 2: Russian general in Moscow.

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Speaker 11: Bill, Yeah, we're looking at still all just breaking in

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Speaker 11: the last hour or so, Ukraine's saying that it was

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Speaker 11: behind the killing of this lieutenant general who helped oversee

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Speaker 11: Russia's radiological, chemical and biological defense forces in an explosion

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Speaker 11: in Moscow early. We don't know what the ramifications of

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Speaker 11: that are going to be, how Putin might respond, but

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Speaker 11: it's certainly a sign that continues to be ways for

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Speaker 11: both sides to escalate in this conflict.

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