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Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg

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Speaker 1: day Break for a Thursday, March seventeen two. Coming up

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Speaker 1: this hour, the House nears legislation to remove Russia's Most

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Speaker 1: Favored Nation trade status. The bond and stock markets react

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Speaker 1: differently to the fits interest rate liftoff. The Bank of

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Speaker 1: England set to raise rates this morning, and stocks in

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Speaker 1: Asia search for a second straight day. New York expands

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Speaker 1: workplace harassment protection for all public employees. Plus preparations continue

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Speaker 1: for today's St. Patrick's Day parade in Manhattan. I'm Michael

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Speaker 1: bar More Ahead, I'm trying stash shower and sports. Easy

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Speaker 1: win for the nick Nets, loss at the Buzzer ruttors

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Speaker 1: in the n C, double days lost in double overtime.

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Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg

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Speaker 1: Element Trio, New York, Bloomberg one, Washington, d C, Bloomberg

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Speaker 1: one O six one, Boston, Bloomberg nine sixties, San Francisco,

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Speaker 1: Sirius x M one nineteen and around the world. Old

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Speaker 1: on Bloomberg Radio dot Com and via The Bloomberg Business.

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Speaker 1: Good morning. I'm Nathan Hagar, and I'm Cameron Moscow and

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Speaker 1: US Dock index futures are lower this morning and extending

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Speaker 1: their declines. Were coming up to six o one on

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Speaker 1: Wall Street, and we check the markets every fifteen minutes

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Speaker 1: throughout the trading day. On Bloomberg. Right now, SMP futures

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Speaker 1: are down twenty three points down, futures down a hundred

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Speaker 1: sixty two, NASDAG futures down eight. The decks in Germany

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Speaker 1: is down one percent, the ten year treasury up twenty

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Speaker 1: thirty seconds, the yel two point one one percent, they

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Speaker 1: yield on the two year one point nine one percent,

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Speaker 1: and the euros at one point one zero three three

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Speaker 1: against the dollar. Nathan, all right, Karen, we begin with

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Speaker 1: the latest developments on the war, including this red headline

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Speaker 1: that just crossed the Bloomberg terminal. The Kremlin says reports

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Speaker 1: of major progress in Ukraine talks are wrong. Group of

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Speaker 1: seven foreign ministers are meeting virtually today to discuss the crisis,

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Speaker 1: as Ukrainian President Voladimir Zelinski addresses the lower house of

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Speaker 1: the German parliament. All this as Russian strikes continue you

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Speaker 1: on infrastructure sites. The Ukrainian military says a Russian plane

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Speaker 1: bomba theater were hundreds for sheltering. Bloomberg's Ed Baxter has

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Speaker 1: that story. This adding to the concern about Russia purposely

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Speaker 1: bombing civilians. The max Are satellite firm collected images showing

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Speaker 1: the word children in writing in white letters in front

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Speaker 1: of and behind the theater. Meanwhile, President Joe Biden has

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Speaker 1: promised new munitions to Ukraine. We have identified and are

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Speaker 1: helping Ukraine acquire additional longer range and aircraft systems, along

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Speaker 1: with shoulder rockets, stinger and javelin launchers, twenty million rounds

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Speaker 1: of AMMO, and one hundred diving switch blade drones in

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Speaker 1: San Francisco, I'm at Baxter, Bloomberg Daybreak. All right, and

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Speaker 1: thank you and all. President Biden has offered eight hundred

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Speaker 1: million dollars worth of new weaponry to Ukraine. He also

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Speaker 1: branded Russian President Vladimir Putin a war criminal. Later today,

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Speaker 1: House lawmakers are set to revoke normal trade relations with Russia.

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Speaker 1: Amy Morris has the latest from our Bloomberg nine newsroom

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Speaker 1: in Washington. Removing Russia's most Favored Nation trade status allows

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Speaker 1: the US to impose higher tariffs on Russian goods, sources

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Speaker 1: tell Bloomberg News. It also expands the Magnitsky Act, opening

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Speaker 1: up the possibility of more sanctions on Russian officials for

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Speaker 1: human rights violations. It would take Congress and the President

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Speaker 1: together to re establish any trade relationship with Russia. House

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Speaker 1: majority leaders Denny Hawyer says the vote will come later today,

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Speaker 1: putting Russia in the same category as Cuba and North

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Speaker 1: Korea in Washington. I'm maybe more as Bloomberg daybreak. All right, Amy,

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Speaker 1: thank you. In a chilling thread, Vladimir putinist warning he

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Speaker 1: will cleanse Russia of traitors, but any people, and even

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Speaker 1: more so, the Russian people will always be able to

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Speaker 1: distinguish true patriots from scum and traders and simply spit

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Speaker 1: them out like a fly that accidentally flew into the mouth,

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Speaker 1: spit them out. I am convinced that such a natural

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Speaker 1: and necessary cleansing of society will only strengthen our country.

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Speaker 1: Phud And accused the West of wanting to destroy Russia,

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Speaker 1: and this morning, Russia's finance ministry set a one seventeen

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Speaker 1: million dollar interest payment due on two dollar bonds had

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Speaker 1: been made to City Bank in London. Well, Nathan, and

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Speaker 1: then their major story that we're watching this morning is

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Speaker 1: a continued reaction to the FEDS and liftoff on interest

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Speaker 1: rates and Bloomberg. John Tucker joins us Live with the latest, John, Karen,

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Speaker 1: Stock and bonding investors had completely different reactions to the

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Speaker 1: feds quarter point rate increase, stocks rallied bonds sold off.

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Speaker 1: The five ten year treasury yield curve inverted for the

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Speaker 1: first time since early That's a recessionary signal. At Guggenheim

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Speaker 1: Partners Chief investment Officers, Scott Monored isn't all that impressed

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Speaker 1: with how the FED is tackling inflation. I think that

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Speaker 1: the FED has largely abandoned monetary orthodoxy. It's trying to

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Speaker 1: be too cute in how it's it's managing this. Guggenheim

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Speaker 1: Scott Monored says they are in an inflation panic. The

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Speaker 1: Central Bank also published forecasts with the authorities various official

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Speaker 1: of the so called Dan plot that indicated a steeper

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Speaker 1: hiking path than before. Live in New York. I'm John Tucker,

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Speaker 1: Bloomberg debris, Thank you, John. Interest rates are also in

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Speaker 1: focus in Europe. Let's get that story Live with Bloomberg's

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Speaker 1: You and Parts. Good Morning, Good morning, Nathan and Karen.

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Speaker 1: The Bank of England was the first major central bank

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Speaker 1: the Tyson policy after the pandemic, and today committee members

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Speaker 1: look all but certain to high rates for a third

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Speaker 1: successive time. If they do, that would take the UK

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Speaker 1: benchmark back to its pre COVID level as the bank

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Speaker 1: battles soaring inflation. That decision at eight a m. Eastern Time,

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Speaker 1: Live in London. I'm you and part's been big daybreak,

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Speaker 1: Thank you and thank you all. Turning to the markets now,

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Speaker 1: starks in Asia jumped once again on a surge in

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Speaker 1: Chinese technology shares. We get the recap from Bloomberg's JULIETT.

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Speaker 1: Sally and Singapore. Good morning, Juliet, Good morning, Nathan and Karen.

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Speaker 1: China's effort to stabilize market saw the Hang Saying Index

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Speaker 1: post it's best two day games since the Hang Saying

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Speaker 1: Tech Index added to Wednesday's dizzy and twenty two percent game. However,

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Speaker 1: the index is still down more than fifty pc from

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Speaker 1: its February one peak, owing to a year long crackdown

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Speaker 1: on the sect um. The lift in Hong Kong and

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Speaker 1: Chinese equities or the m s c I Asia Pacific

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Speaker 1: Index rise over three percent, and the yan Hovadna six

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Speaker 1: l boosting the K two to five by three and

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Speaker 1: a half percent. That was its best to day games

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Speaker 1: since April. In Singapore, Juliette Sally Bloomberg day break, All right, Juliette,

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Speaker 1: thank you not Despite the recent pullback, one Wall Street

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Speaker 1: firm says oil prices are heading a lot higher. Let's

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Speaker 1: get that storyline from Bloomberg's Rnita Young. Good morning, Nita,

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Speaker 1: Good morning, Nathan. Morgan Stanley is raising its Brent oil

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Speaker 1: price forecast for the third quarter from a hundred dollars

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Speaker 1: to a hundred twenty dollars a barrel. Analysts there are

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Speaker 1: citing tighter supply demand balances worldwide. Morgan Stanley says the

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Speaker 1: US import band and self sanctioning in Europe mean Russian

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Speaker 1: crewde production will drop by one million barrels a day,

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Speaker 1: which will be visible from April onwards. Analysts are raising

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Speaker 1: their estimate for three from nine five dollars to a

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Speaker 1: hundred dollars of barrel. Live in New York, I'm reneed

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Speaker 1: a Young Bloomberg Daybreak, need to thanks right now, nymex

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Speaker 1: Crud's flirting with a hundred dollars of barrel trading at

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Speaker 1: ninety four cents brent is at a hundred two dollars

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Speaker 1: sixty five. Straight ahead your latest local headlines in a

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Speaker 1: check of sports. This is Bloomberg and it's now six

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Speaker 1: o seven on Wall Streets. Still dealing with some fog

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Speaker 1: this morning, forty five degrees in Central Park. You got

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Speaker 1: in an accident on the north bound Deagan at Yankee Stadium.

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Speaker 1: Michael Bars here with more on what's going on in

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Speaker 1: New York and around the world. Good morning, Michael, Good

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Speaker 1: morning Nathan St. Patrick's Day. Celebrations in New York City

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Speaker 1: and across the country are back after a two year hiatus.

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Speaker 1: New York's Parade, the nation's largest and oldest, will go

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Speaker 1: up Fifth Avenue, starting around eleven am. New York Mayor

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Speaker 1: Eric Adams says today you can call him Oh Adams.

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Speaker 1: We said it in the spirit of the Irish Americans

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Speaker 1: who played a major role in this city. Built in

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Speaker 1: a Brooklyn Bridge, our mt A system, law enforcement. You

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Speaker 1: look at the success of New York, you see the

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Speaker 1: Irish contribution to it, and you should be proud to

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Speaker 1: be Irish today and proud to be New Yorker is

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Speaker 1: and proud to be America's Mayor. Adam says in The

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Speaker 1: parade was canceled as the virus hit the U S.

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Speaker 1: White House Medical Advisor Dr Anthony Founci says Americans need

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Speaker 1: to be ready to respond to another potential COVID surge

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Speaker 1: if one occurs. Dr Faunci says older individuals may need

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Speaker 1: another vaccine booster. I don't think there's any doubt that

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Speaker 1: sooner or later, particularly among the elderly, who have less

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Speaker 1: of a robust immune response than a normal younger population,

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Speaker 1: that sooner or later they will need a boost of

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Speaker 1: a fourth shot. Dr Faunci has more than a thousand

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Speaker 1: people a day are still dying of COVID in the US.

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Speaker 1: It looks like the pandemic has led to the closing

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Speaker 1: of the nine eleven You Museum in Lower Manhattan, according

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Speaker 1: to The Wall Street Journal. Museum officials say it will

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Speaker 1: be likely closed permanently after running up too much debt.

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Speaker 1: The Tribute Museum, with a staff of ten, was designed

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Speaker 1: to serve the survivor community, while the nearby, better known

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Speaker 1: National September eleventh Memorial Museum honors those lost in the attack.

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Speaker 1: New York has expanded workplace harassment protection for all public

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Speaker 1: employees and has banned the release of anyone's employment records

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Speaker 1: in retaliation for speaking up about alleged abuse. Actor Jesse

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Speaker 1: small Lett has been released from jail in Chicago after

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Speaker 1: an appeals court agreed with his lawyers that he should

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Speaker 1: be free pending the appeal of his conviction for lying

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Speaker 1: to police about a racist and homophobic attack. Global News

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Speaker 1: twenty four hours a day on air and on Bloomberg

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Speaker 1: Quick Take, powered by more than twenty seven undred journalist

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Speaker 1: and analyst and more than a hundred twenty countries. I'm

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Speaker 1: Michael bar This is Bloomberg, Nathan. Thank you, Michael. Six

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Speaker 1: on nine on Wall Street time for the Bloomberg Sports

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Speaker 1: Update with John Stownshire and Nathan. The n C Double

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Speaker 1: A Tournament. It begins in earnest. Today was sixteen game

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Speaker 1: six team more tomorrow. By the late last night Dayton, Ohio,

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Speaker 1: Notre Dame coach Mike Bray suggested there will not be

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Speaker 1: a game in the attorney better than the one his

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Speaker 1: team that had just won. At the first four Notre

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Speaker 1: Dame eighty nine Rutgers eight seven double overtime, both team

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Speaker 1: shot over fifty. Paul Atkinson won it for the putback

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Speaker 1: with one second left. It came just after midnight, so

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Speaker 1: technically the Irish won the game. On St. Patrick's Day,

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Speaker 1: Iona lost its first round in I T game at

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Speaker 1: Florida seventy nine seventy four easy win for the Knicks

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Speaker 1: at the Garden over a Portland team that started three

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Speaker 1: guys who weren't even drafted r J. Barrett's forty one

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Speaker 1: Nets and MAV's in Brooklyn, Dadalls had the ball trailing

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Speaker 1: by one by the donches. She saw that left side

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Speaker 1: as he crosses the front court with five up to

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Speaker 1: the top with three donches with two gives it up

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Speaker 1: to Tin Witty for three of the winn and he

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Speaker 1: ferries it. The former Net comes back and spend sir

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Speaker 1: ten winning on a game winning three. The Mavericks have

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Speaker 1: defeated the Nets one thirteen to one. Ale love ITSPN.

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Speaker 1: They called Luke at domps as thirty seven points for Dallas.

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Speaker 1: That was lost at Calgary six three Rangers, who on

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Speaker 1: the trade with Florida, the team with the best record

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Speaker 1: the East, set the draft pick to the Fanthers for

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Speaker 1: Frank be Toronto gets traded a day after he scored

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Speaker 1: the time and winning goals for the Fanthers. Freddie Freeman

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Speaker 1: a fixture for eleven years at first base for the Braves,

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Speaker 1: big part in winning the World Series last Wall, but

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Speaker 1: now he's a Dodger six years, hundred sixty two million.

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Speaker 1: The Dodgers now have four m vps on their roster,

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Speaker 1: with Freeman joining Clayton Kirschuk, Woody Bellinger at Lookey Beats,

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Speaker 1: John stash Award Bloomberg Sports Okay, John, thank you. Futures

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Speaker 1: moving lower, SMP futures downtown twenty eight points, Staff futures

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Speaker 1: down a hundred eighty NASTAC futures onto decline by a

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Speaker 1: hundred eight points. The tenure treasury is now up twenty

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Speaker 1: one thirty seconds, the yield two point one one per cent.

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Speaker 1: The Kremlin now says a report of major progress in

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Speaker 1: talks with Ukraine is wrong. Well the details next from

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Speaker 1: Bloomberg's Rosalind Matheson. You're listening to Bloomberg, Dame Ring Bloomberg

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Speaker 1: eleven three oh Weather areas of fog this morning, showers

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Speaker 1: dot Index futures are moving lower this morning, and stocks

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Speaker 1: in Europe are as well. We check the markets every

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Speaker 1: fifteen minutes throughout the trading day on Bloomberg s and

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Speaker 1: P futures down twenty four points down, futures down one

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Speaker 1: digesting the federal reserves view that a robust US economy

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Speaker 1: Germany is down nine tenths of upper cent. The ten

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Speaker 1: one point one zero three five against a dollar British

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Speaker 1: one point four percent at forty thousand, six hundred to

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Speaker 1: sixty eight dollars. That's a Bloomberg business flash. Now here's

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Speaker 1: Michael Barr with more unless going on around the world.

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Speaker 1: Mchael Karen, thank you very much. Russian artillery destroyed a

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Speaker 1: school and a community centered New York, Arkiev today. Yesterday

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Speaker 1: an air strike ripped the part of theater where hundreds

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Speaker 1: of people have been taken shelter in Mariupo. China has

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Speaker 1: a firm Ukraine's friendship. China's Foreign Ministry endorsed its ambassador's

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Speaker 1: comments promising Beijing would never attack Ukraine. New data released

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Speaker 1: by the Census Bureau shows the US grew wealthier, better educated,

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Speaker 1: and poverty declined during the second half of the last decade.

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Speaker 1: Today the boss will be yelling, are you filling out

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Speaker 1: your bracket instead of working? No. Today's start of the

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Speaker 1: n C Double A men's college basketball tournament begins in

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Speaker 1: earnest I know you got yours done days ago. Yeah.

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Speaker 1: In the playing games yesterday, Right State and Notre Dame

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Speaker 1: advanced NBA at Nicks one, Nets and Wizards and Laws,

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Speaker 1: Celtics beat the Warriors, NHL, the Devil's and Bruins lost.

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Speaker 1: Global News twenty four hours a day on air and

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Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven

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Speaker 1: hundred journalists and analysts more than a hundred twenty countries.

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Speaker 1: I'm Michael bar This is Bloomberg. All right, Michael, thank

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Speaker 1: you for coming up to six twenty on Wall Street

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Speaker 1: Life from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak,

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Speaker 1: and Rosalind Matheson is with us this morning, Bloomberg News

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Speaker 1: Executive editor for International Government. As we continue following fast

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Speaker 1: moving headlines on the war in Ukraine, including this latest

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Speaker 1: ras the Kremlin now saying that reports of major progress

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Speaker 1: on talks with Ukraine are wrong. Give us a little

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Speaker 1: bit more. What more is there is the Kremlin saying

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Speaker 1: this morning, Well, it's interesting that they've come out so

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Speaker 1: publicly to say that today. Of course, yesterday they did

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Speaker 1: say that they were optimistic, there were some signs of progress,

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Speaker 1: but even on the Russia side there were very cautious,

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Speaker 1: saying large obstacles remained. There were significant differences, for example,

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Speaker 1: about how you qualify a question of neutrality for Ukraine

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Speaker 1: and indicating they weren't yet near a deal. Of course,

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Speaker 1: the Ukraine side has been saying very much the same. However,

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Speaker 1: there were reports overnight that quite significant progress had been made,

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Speaker 1: in a fact, a deal might be imminent. So you're

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Speaker 1: seeing Russia come out publicly today to say, actually that's

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Speaker 1: not the case. There of course degrees of progress that

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Speaker 1: are occurring here, but we're nowhere near the point where

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Speaker 1: we can say that significant progress is being made. Of course,

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Speaker 1: these talks happening pretty much every day between officials by

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Speaker 1: a video conference, but they're really focusing on bit by bit.

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Speaker 1: The first step here is a more protracted cease fire,

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Speaker 1: potentially for forty eight hours or something, to allow people

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Speaker 1: to evacuate other parts of Ukraine, let alone getting to

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Speaker 1: some kind of multi point peace still that would allow

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Speaker 1: the conflict to to finish completely. So even Russia at

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Speaker 1: this side saying publicly things are nowhere near resolved here

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Speaker 1: and this conflict indeed will go on. It's possibly also

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Speaker 1: a reflection of the Russian president coming out yesterday again

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Speaker 1: publicly on television and saying I am committed to winning

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Speaker 1: this war. I'm going to see my plans through. And

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Speaker 1: certainly you don't want a narrative coming from Russia to

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Speaker 1: the to the counter of that, especially when the president

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Speaker 1: himself is saying it. Yeah, we've heard some really strong words,

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Speaker 1: I think from just about all the leaders involved in

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Speaker 1: this conflict, from Russian President Putin saying the country is

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Speaker 1: going to be cleared of scum and traders, to US

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Speaker 1: President Joe Biden branding Putin a war criminal. I mean,

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Speaker 1: where does this set things up for these ongoing negotiations, which,

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Speaker 1: as you mentioned, we are expecting another round of talks today. Well,

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Speaker 1: the key thing here really is at what point those

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Speaker 1: talks go below beyond sort of which is sort of

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Speaker 1: fairly low level of officials to small senior ministers, but

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Speaker 1: particularly at some point the leaders need to come in

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Speaker 1: That Ukrainian president has said repeatedly the only way to

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Speaker 1: resolve this conflict, to get agreement is leader to leader,

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Speaker 1: which means the Russian president needs to talk with him directly,

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Speaker 1: and so far, Vladimir Putin has made it clear that

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Speaker 1: he doesn't intend to do so. He's not engaged at all.

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Speaker 1: Until you get that kind of level of interaction where

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Speaker 1: leaders can effectively sign off on a deal directly and agree.

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Speaker 1: At that kind of level, it's very hard to see

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Speaker 1: how we get progress towards it um And given the retoric,

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Speaker 1: of course that you're seeing that the Russian president says

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Speaker 1: about Ukraine and the Ukrainian president says in turn about

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Speaker 1: the Russian president, how you get them to even speak

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Speaker 1: on the phone in a way that could be productive

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Speaker 1: towards an agreement is also quite deficult to see, because

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Speaker 1: they're all saying very very strong things about each other.

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Speaker 1: But it will at some point possibly take that to

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Speaker 1: get us over the line to a deal. In the meantime,

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Speaker 1: while Ukraine's president has been waiting for those face to

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Speaker 1: face talks with a lot of imprudent he's been addressing

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Speaker 1: houses of parliament around the world. Yesterday, he spoke virtually

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Speaker 1: to the US Congress. This morning, he's been giving an

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Speaker 1: address to Germany's lower house of Parliament. What kind of

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Speaker 1: impact is that having. We can see a very strong

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Speaker 1: message coming from him consistently in all these speeches who's

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Speaker 1: been giving to parliaments around the world, and that is

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Speaker 1: to really advocate for the cause of Ukraine um and

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Speaker 1: to plead for even more help that than has come in,

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Speaker 1: especially on the military side. He's grateful for the weapons

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Speaker 1: that have come Certainly the Ain't anti tank missiles have

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Speaker 1: been extremely important in allowing Ukraine to defend itself, but

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Speaker 1: he also expresses a lot of frustration, saying he really

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Speaker 1: needs countries to do a lot more. In the end,

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Speaker 1: it is only Ukrainian truth fighting Russia on the ground,

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Speaker 1: and he does sort of talk about the responsibility he

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Speaker 1: sees of other nations in Europe, in the US and

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Speaker 1: elsewhere to do more. He repeats his calls for fighter jets,

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Speaker 1: for no fly zones over Ukraine, all of which are

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Speaker 1: incredibly difficult, of course, because they risk a broader conflict.

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Speaker 1: You're going to bring NATO in total proximity with Russian forces.

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Speaker 1: But that's his message is very much thank you for

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Speaker 1: what you're doing. We're grateful for it, but we're still

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Speaker 1: essentially fighting a war our celts on the ground, and

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Speaker 1: unless you do more, at some point this fight may

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Speaker 1: come to you. Bloomberg's Rosalind Matheson, our executive editor for

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Speaker 1: International Government, as always, thank you for keeping us up

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Speaker 1: to speed on all that's happening in the war in

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Speaker 1: Ukraine as we monitor the market reaction. Futures moving lower

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Speaker 1: U following those comments from the Kremlin spokesman that reports

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Speaker 1: of major progress in talks with Ukraine are wrong. SMP

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Speaker 1: futures are now down fifteen points, the futures down n

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Speaker 1: NASDAK futures lower by sixty five points. Tain your treasury

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Speaker 1: is up nineteen thirty seconds. The yell two point one

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Speaker 1: one percent, and Bloomberg Daybreak is brought to you by

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Speaker 1: Radio dot com. This is Bloomberg Daybreak and at six

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Speaker 1: thirty on Wall Street. Good morning, I'm Nathan Haggard and

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Speaker 1: I'm Karen Moscow. We are just about three hours away

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Speaker 1: from the open of US trading. Time for the five

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Speaker 1: things you need to know to start your day, Bronti

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00:21:00,040 --> 00:21:04,080
Speaker 1: you buy Interactive Brokers Simple ib k our Global Trader app,

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Speaker 1: deposit in your local currency, and trade stocks in the US,

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Speaker 1: Europe and Asia. Start your free trial at ib k

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Speaker 1: r dot com Slash Global Trader up first. The Kremlin

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Speaker 1: spokesperson says reports of major progress in Ukraine negotiations are wrong,

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Speaker 1: but says more talks with Ukraine are expected today. Meantime,

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Speaker 1: careing Ukrainian officials are demanding a ceasefire as Russia's invasion continues. Yesterday,

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Speaker 1: President Joe Biden announced the US is offering eight hundred

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Speaker 1: million dollars worth of new weaponry to Ukraine. The American

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Speaker 1: people will be steadfast and our support of the people

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Speaker 1: of Ukraine in the face of Pudent's im moral and

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Speaker 1: ethical attacks on civilian populations. Where are united in our

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Speaker 1: abhorrence of Pudens depraved onslaught, and We're going to continue

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Speaker 1: to have their backs as they fight for their freedom,

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Speaker 1: their Democracy their very survival. President Biden also called Russia's

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Speaker 1: president Vladimir Putin a war criminal. On Capitol Hill. The

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Speaker 1: House votes today to revoke Russia's most favorite nation trade status. Meanwhile, Nathan,

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Speaker 1: Russia announced it made a one d seventeen million dollar

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Speaker 1: interest payment due on two dollar bonds to City Bank

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Speaker 1: in London, but did not comment on if it was credited.

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Speaker 1: Russia could renege on its obligations to foreign creditors for

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Speaker 1: the first time since nineteen eighteen. Turned to market. Stock

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Speaker 1: and bond investors reacted differently to the feds quarter point

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Speaker 1: rate hike. Bloomberg's John Tucker joins US Live with that,

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Speaker 1: John Nathan, stocks, rallied bonds sold off. Five year treasury

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Speaker 1: yields surged above ten year yields. That's an inversion that

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Speaker 1: could signal recession ahead. The FED officials forecast indicated a

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Speaker 1: steeper path of interest rates than before, and that's leading

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Speaker 1: some to suggest the central Bank is in an inflation panic.

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Speaker 1: On the swaps markets now betting seven or eight hikes

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Speaker 1: for this year in New York, I'm John Tucker, Bloomberg Daybreak.

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Speaker 1: All right, John, thank you about despite the recent poemback

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Speaker 1: one Wall Street firm says oil prices are heading higher,

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Speaker 1: and we get the latest live with Bloomberg's re Needy Young.

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Speaker 1: Good morning, Ready to good morning. Karen Morgan Stanley is

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Speaker 1: raising its Brent oil price forecast for the third order

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Speaker 1: from a hundred dollars to a hundred twenty dollars of barrel.

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Speaker 1: Analysts site tighter supply demand balances worldwide. Morgan Stanley says

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Speaker 1: the US import ban and self sanctioning in Europe I

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Speaker 1: mean Russian crude production will drop by one million barrels

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Speaker 1: a day, which will be visible from April onwards. Analysts

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Speaker 1: raise their three estimate from nine dollars to a hundred

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Speaker 1: dollars of barrel. Live in New York. I'm Ranita Young,

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Speaker 1: Bloomberg daybreak. All right, we need to thank you, and

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Speaker 1: that's the five things you need to notice start your day.

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Speaker 1: Brought to you by Interactive Brokers, and this is Bloomberg.

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Speaker 1: Thanks Karen sixe on Wall Street. Fog forty five degrees

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Speaker 1: in Central Park. We got an accident in Hillside at

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Speaker 1: eastbound Root twenty two at Blois Street, and Michael barrs

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Speaker 1: here with what else is going on in New York

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Speaker 1: and around the world. Good morning Michael, Good morning Nathan.

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Speaker 1: New York. St. Patrick's Day Parade is back in Manhattan.

429
00:23:53,920 --> 00:23:57,200
Speaker 1: He was canceled in twenty because of the pandemic. Last

430
00:23:57,280 --> 00:24:00,200
Speaker 1: year was a scaled down version, but this year feth

431
00:24:00,280 --> 00:24:04,000
Speaker 1: Avenue will be packed with marches. New York Mayor Eric

432
00:24:04,040 --> 00:24:06,919
Speaker 1: Adams it means so much to all of us to

433
00:24:06,960 --> 00:24:11,399
Speaker 1: see this pit parade a return. When it's paused, we

434
00:24:11,560 --> 00:24:14,359
Speaker 1: knew we will be back. Mayor Adams says. The parade

435
00:24:14,400 --> 00:24:17,480
Speaker 1: will begin at eleven a m. New York Governor Cathy

436
00:24:17,480 --> 00:24:22,240
Speaker 1: Hocal signed legislation expanding the state's anti retaliation protections where

437
00:24:22,280 --> 00:24:26,840
Speaker 1: people filing discrimination and sexual harassment claims. The law effective

438
00:24:26,880 --> 00:24:30,680
Speaker 1: immediately makes the public release of an employee's personnel records

439
00:24:30,880 --> 00:24:35,120
Speaker 1: grounds for retaliation claim. New details about that horrific head

440
00:24:35,160 --> 00:24:38,400
Speaker 1: On Highway crash in West Texas. Nine people were killed,

441
00:24:38,440 --> 00:24:41,840
Speaker 1: including six New Mexico College students and their golf coach

442
00:24:41,840 --> 00:24:44,880
Speaker 1: returning from a tournament. To Other students are in the hospital.

443
00:24:44,960 --> 00:24:47,040
Speaker 1: The driver of the other vehicle and a thirteen year

444
00:24:47,040 --> 00:24:51,320
Speaker 1: old passenger were also killed. Eric Weiss with the NTSB

445
00:24:51,520 --> 00:24:55,240
Speaker 1: says the crash was a quote high energy event. It

446
00:24:55,400 --> 00:24:59,600
Speaker 1: was a seventy five speed limit um, so that's the

447
00:24:59,640 --> 00:25:01,800
Speaker 1: information we have on speed. We don't have the exact

448
00:25:01,840 --> 00:25:04,920
Speaker 1: speed of the vehicles. Also, investigators will try to termine

449
00:25:04,920 --> 00:25:08,320
Speaker 1: that it's believed the pickups werved into the van carrying

450
00:25:08,359 --> 00:25:12,080
Speaker 1: the golf team. According to the NTSB zeric Weiss, two

451
00:25:12,160 --> 00:25:14,880
Speaker 1: British citizens who had been jailed in around for more

452
00:25:14,920 --> 00:25:17,680
Speaker 1: than five years have returned to Britain after the UK

453
00:25:17,840 --> 00:25:21,359
Speaker 1: settled a decade's old debt to a run. A third

454
00:25:21,359 --> 00:25:24,280
Speaker 1: detainee was furloughed as part of the same deal. Actor

455
00:25:24,359 --> 00:25:27,520
Speaker 1: Jesse's small Lett was released from the Chicago jail. An

456
00:25:27,560 --> 00:25:30,359
Speaker 1: appeals court says he can be free while he appeals

457
00:25:30,359 --> 00:25:32,919
Speaker 1: his conviction for lying about being the victim of a

458
00:25:33,000 --> 00:25:38,480
Speaker 1: racist and homophobic attack. Molett's attorney, ninya Uch criticized the

459
00:25:38,520 --> 00:25:42,119
Speaker 1: special prosecutor's decision to charge small Let again after the

460
00:25:42,119 --> 00:25:45,520
Speaker 1: initial charges were dropped, adding, there are false reports against

461
00:25:45,560 --> 00:25:48,200
Speaker 1: black men in America every day. Why is it this one?

462
00:25:48,240 --> 00:25:51,560
Speaker 1: What's really going on? Why people so charged about it? Right?

463
00:25:51,600 --> 00:25:54,960
Speaker 1: This is ridiculous. Attorney Cha says small Lett and his

464
00:25:55,040 --> 00:25:57,960
Speaker 1: family are very happy with the news. Global News twenty

465
00:25:58,000 --> 00:26:00,880
Speaker 1: four hours a day on air and on Bloomberg Quittake,

466
00:26:01,119 --> 00:26:04,159
Speaker 1: powered by more than seven hundred journalists and analysts more

467
00:26:04,200 --> 00:26:08,159
Speaker 1: than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan,

468
00:26:08,280 --> 00:26:15,199
Speaker 1: Thank you, Michael. Six thirty five on Wall Street. Time

469
00:26:15,240 --> 00:26:18,040
Speaker 1: for the Bloomberg Sports Update. Here's John Stash. All right, Nathan.

470
00:26:18,080 --> 00:26:20,159
Speaker 1: Nick's back home from a seven game road trip. But

471
00:26:20,200 --> 00:26:22,080
Speaker 1: they did better than expected with three wins. They had

472
00:26:22,080 --> 00:26:25,760
Speaker 1: no trouble with Portland at the Garden. R J. Barrett

473
00:26:25,800 --> 00:26:28,120
Speaker 1: thirty one points, much closer at the Barkley Center, where

474
00:26:28,119 --> 00:26:30,600
Speaker 1: Spencers didn't when he used to play. His career really

475
00:26:30,960 --> 00:26:33,119
Speaker 1: flourished as a net and he came back beat his

476
00:26:33,160 --> 00:26:35,880
Speaker 1: old team with a game winning three at the Buzzer.

477
00:26:36,320 --> 00:26:39,120
Speaker 1: Dallas beat Brooklyn one thirteen to one. Eleven Devils lost

478
00:26:39,119 --> 00:26:41,320
Speaker 1: at Calgary six to three. The Rangers made a trade

479
00:26:41,640 --> 00:26:43,840
Speaker 1: with the deadline approaching, and they sent a draft pick

480
00:26:43,880 --> 00:26:47,399
Speaker 1: to Florida for forward Frank Vetronto n C double a tournament.

481
00:26:47,480 --> 00:26:49,399
Speaker 1: What a game at the first four and Daton, Ohio

482
00:26:49,440 --> 00:26:52,800
Speaker 1: went doubled. Overtime didn't end. Go after midnight. Paul Atkinson,

483
00:26:52,840 --> 00:26:55,360
Speaker 1: a put back with one second left, giving Notre Dame

484
00:26:55,400 --> 00:26:59,520
Speaker 1: and eight eighty seven win over Rutgers. Iona season also

485
00:26:59,640 --> 00:27:02,840
Speaker 1: ended in night t loss at Florida. NFL free agency

486
00:27:02,880 --> 00:27:05,359
Speaker 1: coinciding with the recent end of the baseball lockout, so

487
00:27:05,480 --> 00:27:08,639
Speaker 1: signings in both sports. Von Miller to the Buffalo Bills,

488
00:27:08,640 --> 00:27:11,400
Speaker 1: Freddie Freeman to the Dodgers, So the rich get Richard

489
00:27:11,440 --> 00:27:14,280
Speaker 1: Chris Bryant to Colorado. The Yankees made the trade with

490
00:27:14,320 --> 00:27:17,159
Speaker 1: the Twins, re signed Anthony Rizzo. They steered clear of

491
00:27:17,200 --> 00:27:19,639
Speaker 1: the really high price guys, but own our house. Glenbinner

492
00:27:19,680 --> 00:27:22,320
Speaker 1: has high hopes put the upcoming season. This is the

493
00:27:22,359 --> 00:27:25,320
Speaker 1: championship caliber team. Um. You know, I think the trade

494
00:27:25,359 --> 00:27:28,520
Speaker 1: that Cash made was it was it was a great trade. Um.

495
00:27:28,640 --> 00:27:30,600
Speaker 1: You know, we're gonna we're gonna miss the guys that

496
00:27:30,720 --> 00:27:34,240
Speaker 1: that moved on, But um, I think we have we

497
00:27:34,480 --> 00:27:37,760
Speaker 1: addressed one or two of the needs that we had. Um,

498
00:27:37,800 --> 00:27:39,719
Speaker 1: but look, this team's got a lot of experience. It's

499
00:27:39,720 --> 00:27:42,359
Speaker 1: a veteran team. They got a lot of heart, and

500
00:27:42,800 --> 00:27:45,000
Speaker 1: I think we're gonna see great things. Better said, they

501
00:27:45,000 --> 00:27:47,119
Speaker 1: will soon get to work on a new contract for

502
00:27:47,160 --> 00:27:50,640
Speaker 1: Aeron Judge John Stash at one Bloomberg Sports. Okay, John,

503
00:27:50,680 --> 00:27:52,919
Speaker 1: thank you, six thirty seven on Wall Street. Let's take

504
00:27:52,960 --> 00:27:54,760
Speaker 1: a look now, it's stocks, some of the names moving

505
00:27:54,760 --> 00:27:57,240
Speaker 1: in the pre market with Bloomberg Radio and TV markets

506
00:27:57,280 --> 00:28:00,280
Speaker 1: correspondent Crety gooped creaty. It seems like invest ers have

507
00:28:00,359 --> 00:28:03,840
Speaker 1: moved from focusing on the FED back to headline moves

508
00:28:03,840 --> 00:28:06,080
Speaker 1: around the war in Ukraine. Yeah, it really comes back

509
00:28:06,119 --> 00:28:07,800
Speaker 1: down to that, because that's, at the end of it,

510
00:28:07,880 --> 00:28:10,640
Speaker 1: the kind of key driver of inflation right now, at least,

511
00:28:10,680 --> 00:28:13,199
Speaker 1: I say, additional inflation. If you look at futures, they

512
00:28:13,200 --> 00:28:15,760
Speaker 1: are down. But here's the good news, Nathan, they're not

513
00:28:15,920 --> 00:28:19,240
Speaker 1: down as much as you would expect after two days

514
00:28:19,280 --> 00:28:21,679
Speaker 1: of three percent or almost three percent gains in the

515
00:28:22,080 --> 00:28:24,480
Speaker 1: in the stock market, So that's pretty good news. That

516
00:28:24,560 --> 00:28:28,000
Speaker 1: being said, you are of course seeing some pretty downside moves.

517
00:28:28,280 --> 00:28:30,520
Speaker 1: Only about twenty five stocks in the green right now,

518
00:28:30,680 --> 00:28:32,600
Speaker 1: and most of them are going to be energy stocks.

519
00:28:32,600 --> 00:28:35,400
Speaker 1: Take a look at this Marathon Oil, your usual suspects here,

520
00:28:35,760 --> 00:28:38,560
Speaker 1: up three percent, m R O S your taker, Haliburton

521
00:28:38,600 --> 00:28:41,480
Speaker 1: as well, h A L up three percent, Devon Energy

522
00:28:41,640 --> 00:28:43,760
Speaker 1: d V and up two and a half percent. And

523
00:28:43,800 --> 00:28:47,040
Speaker 1: then there's occidental O x wise or taker up three

524
00:28:47,040 --> 00:28:50,360
Speaker 1: percent as well, A really great story simply about who

525
00:28:50,400 --> 00:28:54,040
Speaker 1: impact is buying accidental stock. It turns out it's Warren Buffett.

526
00:28:54,120 --> 00:28:56,800
Speaker 1: He is looking to build up his steak. He has

527
00:28:56,840 --> 00:28:59,600
Speaker 1: been building up his steak, and you have seen his

528
00:28:59,640 --> 00:29:03,440
Speaker 1: steak to fourteen point six percent, especially really getting built

529
00:29:03,520 --> 00:29:05,959
Speaker 1: up in the last couple of days. I think um

530
00:29:06,120 --> 00:29:08,280
Speaker 1: looking at this in a bet of a total seven

531
00:29:08,320 --> 00:29:11,920
Speaker 1: billion dollars and accental and just eleven trading days. So

532
00:29:12,200 --> 00:29:14,120
Speaker 1: that's why you use the accidental really gaining here. But

533
00:29:14,160 --> 00:29:16,560
Speaker 1: of course part of that is going to be this geopolitics.

534
00:29:16,560 --> 00:29:18,720
Speaker 1: O x Y once again is your ticker there? Yeah,

535
00:29:18,720 --> 00:29:21,600
Speaker 1: and once again we are watching a surge in crude

536
00:29:21,640 --> 00:29:24,960
Speaker 1: oil prices as well. It could be playing into that also.

537
00:29:25,080 --> 00:29:29,000
Speaker 1: Seeing some analyst moves of note this morning, some analysts moves,

538
00:29:29,040 --> 00:29:30,560
Speaker 1: you know, I think we're back to the point where

539
00:29:30,560 --> 00:29:33,600
Speaker 1: stocks are actually trading on with some of these analysts

540
00:29:33,640 --> 00:29:35,680
Speaker 1: are saying as opposed to the geopolitical tensions that we

541
00:29:35,680 --> 00:29:38,040
Speaker 1: were just talking about. We start with Ralph Lauren here.

542
00:29:38,080 --> 00:29:39,440
Speaker 1: This is a name that I don't bring up off

543
00:29:39,480 --> 00:29:42,200
Speaker 1: in r L. Is your taker up nine tenths of

544
00:29:42,240 --> 00:29:45,720
Speaker 1: a one percent, but seeing a lot of heavy volume

545
00:29:45,720 --> 00:29:48,240
Speaker 1: in acticing just as much volume as Occidental is in

546
00:29:48,240 --> 00:29:50,600
Speaker 1: the pre market this morning, So that is some interesting

547
00:29:50,600 --> 00:29:53,560
Speaker 1: news there. JP Morgan upgrading Ralph Lauren to an overweight,

548
00:29:53,720 --> 00:29:56,440
Speaker 1: announcing a one hundred and forty two dollar price target.

549
00:29:56,520 --> 00:29:58,680
Speaker 1: Is trading around one hundred and fifteen right now, so

550
00:29:58,760 --> 00:30:01,920
Speaker 1: definitely seeing some upside there. Another one that is actually

551
00:30:01,920 --> 00:30:04,520
Speaker 1: interesting to me is McDonald's m c d s your ticker.

552
00:30:04,560 --> 00:30:07,240
Speaker 1: They're up just two tenths of one percent, not a

553
00:30:07,320 --> 00:30:09,640
Speaker 1: huge move to the upside, but you did get some

554
00:30:09,720 --> 00:30:12,640
Speaker 1: news Morgan Stanley cutting their price target on McDonald's two

555
00:30:13,320 --> 00:30:16,720
Speaker 1: seven dollars from town four that of course citing a

556
00:30:16,840 --> 00:30:19,880
Speaker 1: Russian Ukrainian impact, but still saying they are overweight on

557
00:30:19,880 --> 00:30:22,680
Speaker 1: the stock. And remember McDonald's one of the fastest growing

558
00:30:22,680 --> 00:30:25,600
Speaker 1: markets is Russia. Actually, there was a story that Moscow,

559
00:30:25,680 --> 00:30:28,160
Speaker 1: the Moscow McDonald's location was one of the fastest and

560
00:30:28,240 --> 00:30:32,200
Speaker 1: busiest in the world. Of course before the war. McDonald's

561
00:30:32,200 --> 00:30:34,880
Speaker 1: shares now trading out about two d and thirty dollars. Yeah,

562
00:30:34,920 --> 00:30:37,200
Speaker 1: you saw some huge lines out of that first McDonald's

563
00:30:37,200 --> 00:30:39,360
Speaker 1: in Moscow after they opened the Iron curtain back in

564
00:30:39,400 --> 00:30:41,760
Speaker 1: the nineties. But it'll be really interesting to see as

565
00:30:41,760 --> 00:30:45,480
Speaker 1: well if we get any more geopolitical analysts moves with

566
00:30:45,680 --> 00:30:49,640
Speaker 1: so many companies pulling back their Russia business. Bloomberg Radio

567
00:30:49,720 --> 00:30:53,720
Speaker 1: and TV Markets correspondent Creedy Gupta keeping an eye as

568
00:30:53,760 --> 00:30:55,880
Speaker 1: always on the pre market for US and as we

569
00:30:55,880 --> 00:30:58,400
Speaker 1: look at stocks as a whole ahead of the St.

570
00:30:58,440 --> 00:31:02,920
Speaker 1: Patrick's day open. It's red on the screen. Uh green

571
00:31:03,000 --> 00:31:05,880
Speaker 1: if you're looking at commodities. Really but SMP futures right

572
00:31:05,880 --> 00:31:08,680
Speaker 1: now are down fourteen points down, futures down ninety seven,

573
00:31:08,760 --> 00:31:12,720
Speaker 1: NASTACT futures down fifty eight. The tenure Treasury is up

574
00:31:12,920 --> 00:31:16,640
Speaker 1: eighteen thirty seconds. The yield now two point one on

575
00:31:16,680 --> 00:31:23,880
Speaker 1: the benchmark tenure. This is Bloomberg Bloomberg eleven three oh Weather.

576
00:31:24,000 --> 00:31:26,840
Speaker 1: Some fog, some showers this afternoon with highs in the

577
00:31:26,880 --> 00:31:30,120
Speaker 1: mid fifty Sunshine tomorrow with the high your seventy. Occasional

578
00:31:30,200 --> 00:31:33,600
Speaker 1: rain returns on Saturday, low sixties for Saturday. Highs right

579
00:31:33,600 --> 00:31:39,080
Speaker 1: now forty five in Central Park. Markets, headlines and breaking

580
00:31:39,120 --> 00:31:41,960
Speaker 1: news twenty four hours a day at Bloomberg dot Com,

581
00:31:42,120 --> 00:31:45,640
Speaker 1: the Bloomberg Business Out and at Bloomberg Quick tape is

582
00:31:45,680 --> 00:31:55,280
Speaker 1: a Bloomberg business flash and I'm Karen Moscow and futures

583
00:31:55,280 --> 00:31:57,560
Speaker 1: are falling this morning. We go to the first Word

584
00:31:57,600 --> 00:32:01,000
Speaker 1: Breaking News dash for today's morning call. Here's Bill Maloney, Bill,

585
00:32:01,000 --> 00:32:04,640
Speaker 1: good morning, Hey, good morning, Karen. That's right. US features

586
00:32:04,720 --> 00:32:07,560
Speaker 1: are in the red. Help by Russia de nine reports

587
00:32:07,560 --> 00:32:11,160
Speaker 1: of major progress in Ukrainian talks down. Futures certainly down

588
00:32:11,200 --> 00:32:14,240
Speaker 1: a hundred and five points, sup Shop fifteen, NASTAC futures

589
00:32:14,280 --> 00:32:17,080
Speaker 1: are lower by sixty the US ten year old at

590
00:32:17,120 --> 00:32:20,080
Speaker 1: two point one two percent, Gold and Oil or bold Climate,

591
00:32:20,320 --> 00:32:23,560
Speaker 1: but Bitcoin is down by one point four percent. Hong

592
00:32:23,640 --> 00:32:27,640
Speaker 1: Kong rose a whopping seven percent overnight, while EUROPM markets

593
00:32:27,640 --> 00:32:30,200
Speaker 1: are in the red, lit by one percent. Losses in Italy.

594
00:32:30,560 --> 00:32:32,840
Speaker 1: Back in the US on the economic Fronday thirty initial

595
00:32:32,920 --> 00:32:36,400
Speaker 1: jobs claims, housing starts and Philly fed. In other news,

596
00:32:36,400 --> 00:32:40,520
Speaker 1: Elmi Nickel trading was paralyzed by glitches yet again, and

597
00:32:40,560 --> 00:32:44,080
Speaker 1: Tessa delayed get offering of more than a billion wrapping

598
00:32:44,120 --> 00:32:47,040
Speaker 1: things up. Norwegian Cruise was raised to equate over Morgan Stanley.

599
00:32:47,160 --> 00:32:51,480
Speaker 1: Union Pacific cut to center perform over at RBC Live

600
00:32:51,560 --> 00:32:54,640
Speaker 1: from the First Breaking News dost scom Bill Maloney kre Hey, Bill,

601
00:32:54,680 --> 00:32:57,080
Speaker 1: thank you to hear live breaking news over her Bloomberg Times.

602
00:32:57,080 --> 00:33:00,160
Speaker 1: Squalk on your terminal, SCU you a w K. That's

603
00:33:00,160 --> 00:33:02,720
Speaker 1: a Bloomberg business flash. Now here's Michael Barrow with more

604
00:33:02,760 --> 00:33:05,680
Speaker 1: on what's going on around the world. Michael Karen, thank

605
00:33:05,720 --> 00:33:08,040
Speaker 1: you very much. The Kremlin has thrown cold water on

606
00:33:08,160 --> 00:33:11,400
Speaker 1: reports of major progress in peace socks with the Ukraine.

607
00:33:11,720 --> 00:33:16,080
Speaker 1: Kremlin spokesman Tomitri Peskov says the reports are wrong. Meanwhile,

608
00:33:16,160 --> 00:33:19,600
Speaker 1: China's Foreign Ministry endorsed supportive remarks by it's on void

609
00:33:19,640 --> 00:33:22,680
Speaker 1: of Ukraine, in which Beijing delivered some of its most

610
00:33:22,720 --> 00:33:27,400
Speaker 1: supportive comments yet toward the war torn country. China's ambassador

611
00:33:27,440 --> 00:33:30,720
Speaker 1: told the governor of Lviv Beijing would never attack Ukraine.

612
00:33:31,040 --> 00:33:33,080
Speaker 1: Today is the start in Earnest of the n c

613
00:33:33,160 --> 00:33:36,520
Speaker 1: Double A college basketball Tournament. In the playing games yesterday,

614
00:33:36,600 --> 00:33:40,120
Speaker 1: Right State has earned its first men's tournament victory, and

615
00:33:40,240 --> 00:33:44,000
Speaker 1: Notre Dame needed double overtime against Rutgers to advance. In

616
00:33:44,080 --> 00:33:47,000
Speaker 1: the NBA. The next one, the Nets and Wizards lost.

617
00:33:47,200 --> 00:33:49,960
Speaker 1: The Celtics beat the Warriors. In the NHL, the Devil's

618
00:33:49,960 --> 00:33:52,920
Speaker 1: and Bruins lost. Global News twenty four hours a day

619
00:33:52,960 --> 00:33:55,880
Speaker 1: on air and on Bloomberg Quick Take, powered by more

620
00:33:55,920 --> 00:33:58,480
Speaker 1: than twenty seven hundred journalists and analysts more than a

621
00:33:58,520 --> 00:34:03,800
Speaker 1: hundred twenty countries. I'm this is Bloomberg. The following commentary

622
00:34:03,920 --> 00:34:08,760
Speaker 1: is from Bloomberg Opinion. Daylight I'm Jonathan Bernstein, a columnist

623
00:34:08,800 --> 00:34:11,200
Speaker 1: from Bloomberg Opinion. The Senate has passed a bill to

624
00:34:11,239 --> 00:34:14,520
Speaker 1: make daylight saving time a year round thing. It now

625
00:34:14,600 --> 00:34:17,279
Speaker 1: heads to the House. Momentum has been building within the

626
00:34:17,280 --> 00:34:20,680
Speaker 1: States for this change, and apparently senators were listening. Senate

627
00:34:20,719 --> 00:34:23,799
Speaker 1: passage will alert any groups that oppose the switch. They'll

628
00:34:23,800 --> 00:34:26,160
Speaker 1: push for the House to take it slow and risk averse.

629
00:34:26,200 --> 00:34:29,799
Speaker 1: Politicians could be wary about something voters may eventually not

630
00:34:29,960 --> 00:34:33,240
Speaker 1: like and definitely will notice. That's how Congress usually works.

631
00:34:33,360 --> 00:34:36,839
Speaker 1: It's not guaranteed to address everyone's strongest objections, but it's

632
00:34:36,840 --> 00:34:40,120
Speaker 1: a good system for bringing them to lawmakers attention. Senate

633
00:34:40,160 --> 00:34:42,279
Speaker 1: passage is also a good reminder that while the U

634
00:34:42,320 --> 00:34:46,840
Speaker 1: S system is famous for having lots of veto points, House, Senate, President, courts,

635
00:34:46,840 --> 00:34:50,480
Speaker 1: and more, it also has an enormous number of initiation points,

636
00:34:50,880 --> 00:34:54,920
Speaker 1: giving more political actors an opportunity for meaningful participation is

637
00:34:54,960 --> 00:34:57,680
Speaker 1: a strength of the Madisonian system, although it can also

638
00:34:57,719 --> 00:35:00,400
Speaker 1: give narrow interests a way to affect public policy without

639
00:35:00,440 --> 00:35:03,800
Speaker 1: broad based support. Strength or not, it is certainly unusual.

640
00:35:04,160 --> 00:35:06,680
Speaker 1: I'm Jonathan Bernstein. For more opinion, please go to Bloomberg

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Speaker 1: dot com, slash Opinion or O P A n go

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00:35:09,320 --> 00:35:13,040
Speaker 1: on the Bloomberg terminal. This has been Bloomberg Opinion and

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00:35:13,080 --> 00:35:16,120
Speaker 1: Bloomberg Opinion commentaries can be heard every weekday at this

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Speaker 1: time and terminal customers can read more at O P

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Speaker 1: I n go. It is six fifty on Wall Street.

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Speaker 1: We turned to news and science and technology now with

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Speaker 1: the Bloomberg and J I T. STEM Report brought to

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00:35:27,400 --> 00:35:30,120
Speaker 1: you buy New Jersey Institute of Technology ranked in the

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Speaker 1: top two percent nationally for alumni mid career earnings and

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00:35:33,560 --> 00:35:36,880
Speaker 1: number one in the nation for student upward economic mobility.

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00:35:36,920 --> 00:35:39,279
Speaker 1: More at n J I T dot E DU. Now

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00:35:39,320 --> 00:35:42,319
Speaker 1: here's just making news and science, technology, engineering, and math.

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00:35:42,840 --> 00:35:45,600
Speaker 1: You know the phrase you are what you eat. Nutrition

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Speaker 1: scientists are getting to the bottom of what that means

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Speaker 1: with an emerging area of research called precision nutrition. It's

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00:35:52,320 --> 00:35:54,799
Speaker 1: a growing field of study that assumes each person may

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00:35:54,840 --> 00:35:58,440
Speaker 1: have unique responses to eating specific foods and nutrients, and

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00:35:58,520 --> 00:36:02,600
Speaker 1: blends data based on j NICs, behavior, socio economics, environment,

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00:36:02,680 --> 00:36:06,440
Speaker 1: and eating patterns to potentially develop diets that are personalized

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00:36:06,440 --> 00:36:08,719
Speaker 1: to improve health. It's all part of a one D

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00:36:08,880 --> 00:36:11,840
Speaker 1: seventy million dollar program funded by the National Institutes of

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00:36:11,880 --> 00:36:16,280
Speaker 1: Health called Nutrition for Precision Health and China, the latest

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00:36:16,280 --> 00:36:19,440
Speaker 1: COVID outbreak appears to be easing. Authorities reported the lowest

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00:36:19,520 --> 00:36:21,880
Speaker 1: number of cases so far this week, and in the

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00:36:21,920 --> 00:36:25,799
Speaker 1: epicenter of the latest outbreak, Jillan infections have dropped from

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Speaker 1: recent highs after the province was locked down on Monday,

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00:36:29,400 --> 00:36:32,120
Speaker 1: and robin Hood Markets plans to let users loan out

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00:36:32,160 --> 00:36:35,600
Speaker 1: their stocks to other financial institutions. It's part of a

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Speaker 1: push to compete with more conventional brokerages such as Fidelity

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00:36:39,160 --> 00:36:41,920
Speaker 1: in each trade. Robin Hood is best known for commission

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Speaker 1: free stock and cryptocurrency trading. That's the Bloomberg and j

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Speaker 1: I T Stem Report. Nathan Okay, Karen, thank you. We

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00:36:48,360 --> 00:36:50,840
Speaker 1: are live from the Bloomberg Interactive Broker Studios or to

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00:36:50,920 --> 00:36:53,359
Speaker 1: six fifty two on Wall Street and now to check

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00:36:53,360 --> 00:36:55,640
Speaker 1: what's going on in DC. Some of the top stories

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00:36:55,640 --> 00:36:58,680
Speaker 1: in our nation's capital include President Biden ramping up military

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Speaker 1: aid to Ukraine, including armed drones, the House to vote

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00:37:01,960 --> 00:37:05,640
Speaker 1: today on revoking Russia's trade status, and the Prime Minister

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00:37:05,680 --> 00:37:09,160
Speaker 1: of Ireland testing positive for COVID nineteen while in the

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Speaker 1: nation's capital. For St. Patrick's Day, Let's bring back Bloomberg

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Speaker 1: Government Congressional reporter Jack Fitzpatrick for all that's happening in

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Speaker 1: the nation's capital. Jack, Good morning. So we heard from

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Speaker 1: Ukraine's president vladimir's Lensky addressed Congress yesterday and it sounds,

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Speaker 1: judging from what President Biden had to say afterward, that

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Speaker 1: it made quite the impression. Yeah, it did seem to

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Speaker 1: make an impression. There was a lot of bipartisan admiration

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Speaker 1: for President Zelinsky and a lot of praise for how

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Speaker 1: how the speech went. UH. There there was some polite

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Speaker 1: push back. You know, Zelenski made the case for blocking

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Speaker 1: Russian UH blocking airspace over Ukraine UH, and that is

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00:37:51,520 --> 00:37:54,919
Speaker 1: not something that lawmakers really went for. There's still, UH

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Speaker 1: at least hesitation, really opposition from both parties towards doing that.

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Speaker 1: There's some skepticism as to how heavy the U s

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Speaker 1: should go with sending UH fighter jets to Ukraine. A

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Speaker 1: lot of the support that the President announced yesterday was

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Speaker 1: for anti aircraft weapons, UM javelins, anti tank tank weapons.

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Speaker 1: There were drones. They're sending a hundred drones, grenade launchers,

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Speaker 1: that kind of thing, a bit more handheld, lighter weight issues.

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Speaker 1: But yes, broadly there is a huge amount of bipartisan

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Speaker 1: support for helping Ukraine. Continuing to have a conversation about

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Speaker 1: potentially future bills that could add even more money in

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Speaker 1: defense and humanitarian aid. Uh and and so it's safe

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Speaker 1: to say the speech went well for President Zelinsky and

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Speaker 1: going forward from there, we're expecting a vote later today

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Speaker 1: in the House on revoking Russia's permanent normal trade status.

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Speaker 1: This was something that President Biden had been calling for

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Speaker 1: last week. Yes, well, he actually got pushed originally by Congress.

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Speaker 1: They brought this up. The White House briefly pumped the

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Speaker 1: brakes on that, uh, seemingly because the President has really

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Speaker 1: been the one to run this kind of thing by

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Speaker 1: European allies. So there was a bit of a delay

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Speaker 1: actually on behalf of the President. And then the President announced, yes,

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Speaker 1: he supports revoking Russia's preferred trade status. That needs action

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Speaker 1: by Congress though, so the vote is supposed to happen

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Speaker 1: today in the House. UH, they expect bipartisans support. They're

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Speaker 1: taking a procedural step that actually uh speeds things up.

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Speaker 1: If they can get two thirds vote in the House.

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Speaker 1: That's a sign that Democratic leaders expect very bipartisan support

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Speaker 1: for this in the House, and it would probably have

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Speaker 1: a good chance in the Senate. UH. And then of

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Speaker 1: course there there are conversations about what comes next, but

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Speaker 1: for now, yes, they are. They're moving to make official

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Speaker 1: what you have heard from the President on revoking Russia's

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Speaker 1: trade status, which would allow higher tariffs on any Russian

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00:39:58,960 --> 00:40:02,280
Speaker 1: goods in the US. And finally, Jack, we're getting multiple

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Speaker 1: reports that the Irish Prime Minister has tested positive for

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Speaker 1: COVID during his annual St. Patrick's trip to Washington. Yes,

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Speaker 1: he he is in Washington and he was supposed to

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Speaker 1: meet with President Biden today. They have not ruled out

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Speaker 1: doing some sort of virtual meeting. But clearly after he

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Speaker 1: UH tested positive with a PCR test, after there were

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00:40:26,520 --> 00:40:29,960
Speaker 1: all these events going on, he tested negative with one

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Speaker 1: of the more rapid tests, then got a positive result

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Speaker 1: back from a PCR test. So it does not seem

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Speaker 1: that the events going on, the meetings between him UH

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Speaker 1: and President Biden that were expected uh this morning and

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00:40:43,160 --> 00:40:45,480
Speaker 1: into the afternoon are going to happen unless they can

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Speaker 1: come up with some sort of virtual meeting, which is

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Speaker 1: actually what happened a year ago because of the high

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Speaker 1: number of case counts UH. There So, so the President

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Speaker 1: Biden will will still not have an opportunity to meet

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Speaker 1: in person with the Irish Prime Minister Michael Martin. Just

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Speaker 1: yet another reminder that covid' is not quite done with

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Speaker 1: us yet. Thanks Jack, good having you with us this morning.

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00:41:05,840 --> 00:41:09,759
Speaker 1: That's Bloomberg Government Congressional reporter Jack Fitzpatrick. And you can

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Speaker 1: read more about all these stories on Bloomberg dot com

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00:41:12,120 --> 00:41:14,719
Speaker 1: or on the Bloomberg terminal. When you're in Washington. Listen

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00:41:14,719 --> 00:41:17,520
Speaker 1: to Bloomberg Radio at Bloomberg nine one and one oh

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Speaker 1: five point seven F M H D two Karen, Thanks Nathan.

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Speaker 1: It is sixty six on Wall Street. This is Bloomberg Daybreak,

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00:41:23,640 --> 00:41:26,080
Speaker 1: and March is Women's History Month, and every day this

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00:41:26,120 --> 00:41:29,360
Speaker 1: month we're celebrating significant moments in women's history. Now with

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Speaker 1: your installment for March seventeenth, here's Bloomberg's Nita Young on

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00:41:33,600 --> 00:41:36,880
Speaker 1: this day in women's History. In nineteen sixty nine, Golden

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00:41:36,920 --> 00:41:40,440
Speaker 1: may Yor is elected as Israel's first female prime minister.

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00:41:40,920 --> 00:41:44,400
Speaker 1: She was only the country's fourth prime minister. Mayor began

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00:41:44,480 --> 00:41:48,080
Speaker 1: her career as a Zionist labor organizer. Later on, she

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00:41:48,160 --> 00:41:52,120
Speaker 1: held several positions within the Israeli government, including Minister of

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00:41:52,120 --> 00:41:55,800
Speaker 1: Foreign Affairs and Minister of Labor, and upon the sudden

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00:41:55,840 --> 00:41:59,120
Speaker 1: death of Prime Minister Levi Eshkal in nineteen sixty nine,

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00:41:59,400 --> 00:42:03,280
Speaker 1: Mayor was chosen as his successor. During her career, Mayor

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00:42:03,400 --> 00:42:06,960
Speaker 1: gained a reputation as a savvy diplomat. She saw the

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00:42:07,000 --> 00:42:09,879
Speaker 1: country through the Yam Kippur War in nineteen seventy three,

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00:42:10,200 --> 00:42:14,000
Speaker 1: after Syria and Egypt launched a surprise attack on Israel,

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00:42:14,360 --> 00:42:17,440
Speaker 1: and partially due to her ailing health end age, Mayor

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Speaker 1: resigned in October nineteen seventy four. That's today in Women's History.

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00:42:22,480 --> 00:42:25,840
Speaker 1: I'm rened to young Bloomberg Radio. Need to thank you

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00:42:25,880 --> 00:42:28,680
Speaker 1: and again. Futures are lower this morning. SMP future is

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Speaker 1: down about eleven points and down. Futures down seventy two,

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Speaker 1: NASDAG futures down forty one and a ten year treasury

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Speaker 1: of seventeen thirty seconds, the yelled two point one two percent,

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00:42:38,880 --> 00:42:43,400
Speaker 1: and Bloomberg surveillance is just straight ahead. For Nathan Hager,

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Speaker 1: I'm Karen Moscow, and this is Bloomberg