Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: Karen, we begin with legal news involving Donald Trump. The
Speaker 2: president elect has failed to convince a judge to set
Speaker 2: aside his conviction in the New York hush money case
Speaker 2: on presidential immunity grounds. New York State Justice Juan Mrshan
Speaker 2: rejected Trump's argument the trial was tainted by testimony and
Speaker 2: other evidence that should not have been allowed under a
Speaker 2: July Supreme Court decision granting presidents brought immunity from criminal charges.
Speaker 2: Bob van Vories is a legal reporter for Bloomberg News.
Speaker 3: Jose Marshawn ruled that Trump had failed to preserve most
Speaker 3: of the objections to the evidence that he objected to,
Speaker 3: meaning that the judge is unable to rule on it
Speaker 3: because he didn't know object at the time. He ruled
Speaker 3: also that even if he had preserved those objections, they
Speaker 3: would not fall within the immune.
Speaker 2: To Bloomberg's Bob van Vores says it's unclear if the
Speaker 2: case will proceede the sentencing, as the president dilect continues
Speaker 2: to challenge the verdict. In May, Manhattan jury found Trump
Speaker 2: guilty of falsifying business records to conceal a one hundred
Speaker 2: and thirty thousand dollars payment to former adult film actress
Speaker 2: Stormy Daniels before the twenty sixteen election.
Speaker 1: Meanwhile, Nathan Trump spoke to reporters for over an hour
Speaker 1: at his ma A Lago, Florida club, covering a wide
Speaker 1: range of topics. He says, Ukraine needs to reach a
Speaker 1: deal and the Russian invasion, You've got to be a deal.
Speaker 4: Got to be a deal. Too many people being killed.
Speaker 4: That is a war. That's too many people. Got to
Speaker 4: make a deal. And Boom has to make a deal
Speaker 4: to what's deal with.
Speaker 1: Hours after Trump spoke, Ukraine claim responsibility for the assassination
Speaker 1: of the head of Russia's Radiological, Chemical, and Biological Defense
Speaker 1: troops and a bomb explosion in Moscow.
Speaker 2: Another topic that reporters brought up Karen was drones. White
Speaker 2: House officials they're still trying to ease concerns about the
Speaker 2: thousands of sightings in New Jersey and other parts of
Speaker 2: the Northeast. National Security spokesman John Kirby says there's no
Speaker 2: reason for alarm.
Speaker 5: Our assessment at this stage is that the activity represents commercial,
Speaker 5: hobbyist law enforcement drones all operating legally and lawfully, and
Speaker 5: or civilian aviation aircraft.
Speaker 2: White House spokesman John Kirby says the FBI followed up
Speaker 2: on one hundred tips out of the more than five
Speaker 2: thousand it's received in recent weeks. President like Trump says
Speaker 2: he thinks the White House knows more than it's saying.
Speaker 6: They know where it came from and where it went,
Speaker 6: and for some reason they don't want to comment, and
Speaker 6: I think they'd be better of saying what it is.
Speaker 6: Our military knows than our president knows, and for some
Speaker 6: reason they want to keep people in suspense.
Speaker 2: The President elect says he doesn't think it's the enemy,
Speaker 2: but he suggested his new Jersey golf course could be
Speaker 2: a target, saying they're flying very close to Bedminster Well Nathan.
Speaker 1: President elect Trump also discussed immigration at Is mar a
Speaker 1: Lago news conference. He threatened legal action against the vided
Speaker 1: Administration for selling unused materials from his border wall with Mexico.
Speaker 6: We're going to have to rebuild it, and it'll cost
Speaker 6: double what it costs years ago, and that's hundreds of
Speaker 6: millions of dollars.
Speaker 1: The president elect was also asked if he's had preliminary
Speaker 1: talks with Venezuela and other countries about his promised mass
Speaker 1: deportation of millions of immigrants. Trump said, quote, they'll take
Speaker 1: them back. Bloomberg News has learned Trump's transition team has
Speaker 1: begun back channel talks with Mexico and El Salvador about
Speaker 1: taking in undocumented migrants. Advisors involved in the effort include
Speaker 1: incoming National Security Advisor Mike Waltz and Deputy Chief of
Speaker 1: Staff Stephen Miller.
Speaker 2: Current presidents like Trump also talked about his pick to
Speaker 2: lead the Department of Health and Human Services, Robert F.
Speaker 2: Kennedy Junior.
Speaker 6: I think he's going to be much less radical than
Speaker 6: you would think. I think he's got a very open mind,
Speaker 6: or I wouldn't have put him there. He's going to
Speaker 6: be very much less radical.
Speaker 4: But there are problems.
Speaker 6: I mean, we don't do as well as a lot
Speaker 6: of other nations.
Speaker 2: The president spoke as Kennedy kicked off meetings with Senate
Speaker 2: Republicans ahead of his conformation hearings. Senator Mark Wayne Mullen
Speaker 2: said after their meeting he plans to vote yes and
Speaker 2: the Kennedy supports the polio vaccine, in his words, one
Speaker 2: hundred percent. Kennedy also met with Florida Senator Rick Scott
Speaker 2: and has more meetings this week with Lindsay Graham of
Speaker 2: South Carolina and Senate Finance Chairman Mike Crapo.
Speaker 1: Nathan, the CEO of TikTok, met with Trump at mar
Speaker 1: A Lago on Monday, just weeks before the popular video
Speaker 1: app is expected to be banned in the US over
Speaker 1: national security concerns. The private meeting came just hours after
Speaker 1: Trump suggested he'd somehow try to reverse the band to
Speaker 1: save TikTok, which he used to reach young voters on
Speaker 1: the campaign trail.
Speaker 2: Turn back to markets now, Karen, as we watch futures
Speaker 2: move lower a day after the Nasdaq one hundred closed
Speaker 2: at an all time high. The moves come a day
Speaker 2: before the final FED great decision of the year. Veronica
Speaker 2: Willis is a global investment strategist at Wells Fargo Investment Institute.
Speaker 7: I think we're going to move from the market being
Speaker 7: excited about an easier FED to refocusing on excitement or
Speaker 7: around economic growth. So I think through the early part
Speaker 7: of twenty twenty five, the FED may still be able
Speaker 7: to cut rates, but as we see growth strengthen and
Speaker 7: as we see inflation maybe moving a little bit higher,
Speaker 7: we're probably not going to be able to see the
Speaker 7: Fed continuing.
Speaker 2: To cut rate Well, As Fargo Investment Institute's Veronica Willis says,
Speaker 2: the Fed is widely expected to cut rates a quarter
Speaker 2: percentage point tomorrow. Stick with Bloomberg for full Fed coverage
Speaker 2: on a special edition of Bloomberg Surveillance. The Fed decides
Speaker 2: that's tomorrow, one thirty pm Wall Street Time on Bloomberg
Speaker 2: Radio and television.
Speaker 1: Well, Nathan, look for a tenure treasury yields to climb
Speaker 1: under President Trump. That's the word from t ROW Price.
Speaker 1: In fact, the firm says yields may climb to six
Speaker 1: percent for the first time in more than two decades
Speaker 1: as US fiscal woes worsen and Trump's policies help keep
Speaker 1: inflation elevated. Tenure Treasury yield, which influences the pricing of
Speaker 1: everything from corporate debt to mortgages, is currently trading at
Speaker 1: four point four to two percent.
Speaker 2: When it comes to interest rates. Overseas, Karen Traders see
Speaker 2: fewer cut by the Bank of England. That's after data
Speaker 2: showed UK wages rose more than forecast in the three
Speaker 2: months through October, the implied chance of a third quarter
Speaker 2: percentage point cut from the BOE in twenty twenty five
Speaker 2: fell below fifty percent. That's down from ninety percent ahead
Speaker 2: of the report.
Speaker 1: And staying in Europe here Nathan. The Bank of France
Speaker 1: has cut its domestic growth outlook, just days after President
Speaker 1: Emmanuel mccron named the country's fourth prime minister in a year.
Speaker 1: We get more from Bloomberg Senior editor Phil Serafino.
Speaker 8: It's not great news. Growing economy can really help France
Speaker 8: with a lot of its budget problems, and growth has
Speaker 8: just not been great for a long time and it's
Speaker 8: going in the wrong direction. The head of the Central Bank,
Speaker 8: Francois de Luis de Gallo, is out doing media now
Speaker 8: to talk about this report, and he's got a pretty
Speaker 8: strong message also, which is that this political discord is
Speaker 8: really a problem. There was a quote he said at
Speaker 8: risk gradual economic decline, which is not something you want
Speaker 8: to hear.
Speaker 1: And Bloomberg's Phil Serafino says the French Central Bank now
Speaker 1: expects only a ten percent expansion in twenty twenty five
Speaker 1: instead of one point two percent had predicted in September.
Speaker 1: And it's time now for a look at some of
Speaker 1: the other stories making news in New York and around
Speaker 1: the world. And for that we're joined by Bloomberg's John Tunker.
Speaker 1: John Good Morning, Yeah.
Speaker 9: Good morning, Karen. Another deadly school shooting, a fifteen year
Speaker 9: old student killed a teacher and another teenager with a
Speaker 9: handgun Bunday at a Christian school in Wisconsin. Madison Police
Speaker 9: chief shown Barnes.
Speaker 10: She was a student at the school and evidence suggests
Speaker 10: she died from a self and afflicted gunshot warm Well.
Speaker 9: The female student also wounded six others at a study
Speaker 9: hall at the Abundant Life Christian School, including two students
Speaker 9: who were in critical condition. And Canada, the Prime Minister
Speaker 9: there Justin Trudeau's administration has been thrown into crisis. His
Speaker 9: trusted deputy, the Finance Minister, Christia Freeland, published a withering
Speaker 9: resignation letter. It left you to weekend at the worst
Speaker 9: possible time to doing. His cabinet have been struggling for
Speaker 9: weeks to show a united front. Donald Trump's threat to
Speaker 9: slap twenty five percent tariffs on Canadian goods the president elected,
Speaker 9: giving some hope to New York City Mayor Eric Adams.
Speaker 9: Donald Trump was asked if he pardoned Adams, who's been
Speaker 9: indicted on federal corruption charges.
Speaker 4: Yeah, I would certainly look at it.
Speaker 9: Bloomberg TV. Yesterday, Adams painted himself as a victim.
Speaker 6: President Biden stated that his Justice Department has been politicized.
Speaker 6: President Trump said that I said that.
Speaker 9: Adams said he's moving forward and committed to running for
Speaker 9: re election. We'll have more of his interview in a
Speaker 9: few minutes. A major earthquake and Vanatu appears to have
Speaker 9: damaged buildings in the Pacific onland Nation. The seven point
Speaker 9: three magnitude quake strunk about nineteen miles from Vanadou's capital.
Speaker 9: The US embassy has attained considerable damage. It's closed until
Speaker 9: further notice. The y Shape Archipelago and the South Pacific
Speaker 9: is home to about three hundred and thirty thousand people.
Speaker 9: Global News twenty four hours day, whenever you wanted with
Speaker 9: Bloomberg News. Now, I'm John Tucker and this is Bloomberg Karen.
Speaker 1: All right, John, thank you time now for the Bloomberg
Speaker 1: Sports update, brought to you by Tri State Outy. Here's
Speaker 1: John Stashauer.
Speaker 10: John, Good morning, Jim Morning Karen's been quite a season
Speaker 10: in Minnesota. Vikings went just seven and ten last year
Speaker 10: and drafted a new quarterback. JJ McCarthy got hurt, so
Speaker 10: the Vikes turned to the journeyman Sam Donald and he's
Speaker 10: been terrific. Ost in Chicago, Donald of the Vikings struck
Speaker 10: in the first quarter. Reaction from Donaldson touchdown, Jefferson.
Speaker 4: Shout out to Randy Boss after the.
Speaker 8: Touchdown from Justin Jefferson his.
Speaker 10: Eighth of the year, esping the call Randy Moss, the
Speaker 10: former Vikings great, just reveal the s cancer in Minnesota
Speaker 10: went on to win thirty to twelve, Now twelve and two.
Speaker 10: With seven wins in a row and with Detroit's last Sunday,
Speaker 10: there's a tie for first. In the NFC North. Atlanta
Speaker 10: won in Las Vegas fifteen to nine Falcons and the
Speaker 10: four game losing Streek. They're one game out. In the
Speaker 10: NFC South, the Raiders are two and twelve. They're tied
Speaker 10: with the Giants for the NFL's worst record. Kansas City
Speaker 10: has the best at thirteen and one, hosting Houston Saturday.
Speaker 10: May not have Patrick Maholmes has a mild high ankle
Speaker 10: sprain there's no reason to think he won't be fine
Speaker 10: for the playoffs. Blowout at Barkley's. Cleveland's got the NBA's
Speaker 10: best record twenty three and four calves up by twenty
Speaker 10: in the first quarter. They beat the Nets one thirty
Speaker 10: to one oh one in Vegas. Tonight, it's Milwaukee and
Speaker 10: Oklahoma City in the nd season NBA Cup Final. John
Speaker 10: Stanshaward Bloomberg Sports, Karon.
Speaker 1: Nathan all Right, John, thank you on Bloomberg day Break.
Speaker 1: Brown to you by Audi. Visit your Trent State AUDI
Speaker 1: dealer today and get behind the wheel of the Audi
Speaker 1: model you've always wanted.
Speaker 10: Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and.
Speaker 9: Around the world on Bloomberg dot Com and the Bloomberg
Speaker 9: Business app.
Speaker 4: This is Bloomberg Daybreak.
Speaker 2: Good Morning on Nathan Hagar. Donald Trump might not be
Speaker 2: able to leave his legal issues fully behind him when
Speaker 2: he returns to the White House next month. The New
Speaker 2: York judge who's been overseeing the President elects hush money
Speaker 2: case is leaving his felony convictions intact, though it's not
Speaker 2: clear if the incoming President's going to have to face
Speaker 2: sentencing over this for more and on all the political
Speaker 2: headlines this morning. We are joined by Bloomberg News Senior
Speaker 2: editor Bill Ferries. Bill, good morning. So where does this
Speaker 2: decision leave the case now for President Electrump?
Speaker 11: Well, good morning, Nathan. I mean it does leave it
Speaker 11: in still a bit of a limbo. I mean Judge
Speaker 11: Judge Murchon here in New York saying that basically the
Speaker 11: immunity argument that Donald Trump and his lawyers have put
Speaker 11: forward in this case really doesn't apply to this situation.
Speaker 11: I mean, this is you know, you have to remember
Speaker 11: back now it's almost eight years. This goes back to
Speaker 11: the Stormy Daniel's case in the twenty sixteen election campaign.
Speaker 11: Mrchon basically saying, none of the rulins from the Supreme
Speaker 11: Court that deal with Donald Trump's immunity as president have
Speaker 11: any bearing here. But the reality is that the you know,
Speaker 11: the sentence is probably not going to happen or it's
Speaker 11: going to be a lot of questions about whether he
Speaker 11: could face even a fine at this point, which was
Speaker 11: kind of the most likely scenario. So that's something that's
Speaker 11: still going to play out. But it is a legal
Speaker 11: setback for the president. It shows that there are some
Speaker 11: limits to that immunity ruling that we got earlier this year.
Speaker 2: Well, it doesn't seem like that legal cloud was much
Speaker 2: of an impact for the President to elect. As he
Speaker 2: held this wide ranging news conference at Amara Lago yesterday,
Speaker 2: he really seemed to relish the President in waiting role.
Speaker 11: Oh absolutely, I was putting down a list of everything
Speaker 11: he hid in that. Besides, you know, there's TikTok and
Speaker 11: return to office investments in the US pardons potentially for
Speaker 11: the New York mayor the Iowa Polster. Going after that,
Speaker 11: I mean, it was drones in New Jersey. I mean,
Speaker 11: you can almost throw a dart at aboard and you'll
Speaker 11: hit an issue that he raised there, But particularly of
Speaker 11: interest was Ukraine and how his view that needs to
Speaker 11: come to an end very quickly. Was very dismissive of
Speaker 11: the idea that the US has allowed Ukraine to hit
Speaker 11: targets deep within Russia, and he said there's got to
Speaker 11: be a deal soon.
Speaker 2: Well you have to wonder though, whether there's going to
Speaker 2: be a deal with this latest development just this morning
Speaker 2: that Ukraine's claiming responsibility for the assassination of a top
Speaker 2: Russian general in Moscow.
Speaker 11: Bill, Yeah, we're looking at still all just breaking in
Speaker 11: the last hour or so, Ukraine's saying that it was
Speaker 11: behind the killing of this lieutenant general who helped oversee
Speaker 11: Russia's radiological, chemical and biological defense forces in an explosion
Speaker 11: in Moscow early. We don't know what the ramifications of
Speaker 11: that are going to be, how Putin might respond, but
Speaker 11: it's certainly a sign that continues to be ways for
Speaker 11: both sides to escalate in this conflict.
Speaker 1: This is Bloomberg Daybreak, your morning podcast on the stories
Speaker 1: making news from Wall Street to Washington and beyond.
Speaker 2: Look for us on your podcast feed by six am
Speaker 2: Easter each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 1: You can also listen live each morning starting at five
Speaker 1: am Wall Street time on Bloomberg eleven three to zero
Speaker 1: in New York, Bloomberg in ninety nine to one in Washington,
Speaker 1: Bloomberg ninety two nine in Boston, and nationwide on serious
Speaker 1: XM Channel one twenty one.
Speaker 2: Plus listen coast to coast on the Bloomberg Business app
Speaker 2: now with Apple CarPlay and Android Atto interfaces, And.
Speaker 1: Don't forget to subscribe to Bloomberg News Now. It's the
Speaker 1: latest news whenever you want it in five minutes or less.
Speaker 1: Search Bloomberg News Now on your favorite podcast platform to
Speaker 1: stay informed all day long. I'm Karen Moscow.
Speaker 2: And I'm Nathan Hager. Join us again tomorrow morning for
Speaker 2: all the news you need to start your day right
Speaker 2: here on Bloomberg.
Speaker 3: Dabray