Speaker 1: Live from the Bloomberg Interact at Brooker Studios. This is
Speaker 1: Bloomberg day Break for Tuesday, January eleven two. Coming up
Speaker 1: this hour, j Powell heads to Capitol Hill for confirmation
Speaker 1: hearings by Shair. Richard Clarence at leaves his post at
Speaker 1: the FED. Early Fiser announces plans for a hybrid vaccine
Speaker 1: to combat the omicron variant, and the Senate targets the
Speaker 1: North Stream to pipeline with sanctions. Details and questions emerge
Speaker 1: about Sunday's deadly bronze fire. Plus Chicago Public school students
Speaker 1: are set to return to classes tomorrow. I'm Michael Barr.
Speaker 1: More Ahead, I'm John Stas Sharon. Sports Georgia beat Alabama
Speaker 1: with the national championship at college football. The Knicks one,
Speaker 1: the Nets and Rangers both locks. That's all straight ahead
Speaker 1: on Bloomberg day Break on Bloomberg Element Treo, New York,
Speaker 1: Bloomberg Washington, d C, Bloomberg one O six one, Boston,
Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen
Speaker 1: and around the world Old on Bloomberg Radio dot Com
Speaker 1: and via The Bloomberg Business. Good morning, I'm Nathan Hagar
Speaker 1: and I'm Karen Moscow and US futures are higher this morning.
Speaker 1: We're coming up to five oh one on Wall Street,
Speaker 1: and we check the markets every fifteen minutes throughout the
Speaker 1: trading day. On Bloomberg S ANDP futures up twenty points
Speaker 1: this morning, Down futures up one eleven, and ASDAC futures
Speaker 1: up one hundred. The decks and Germany's up one point
Speaker 1: two percent, and the tenure treasury up four. Third day
Speaker 1: seconds yield one point seven four percent. They yield on
Speaker 1: the two year point eight to nine percent. Nathan, Karen,
Speaker 1: Let's begin this morning with today's confirmation hearing for j.
Speaker 1: Powell to serve another term as FED chair. Powell's testimony
Speaker 1: comes as markets remain volatile, gripped by rising inflation and
Speaker 1: the prospect of higher interest rates. We get more from
Speaker 1: Bloomberg Economics correspondent Michael McKee. Powell comes before Congress just
Speaker 1: when there's something to talk about. Fear the Fed is
Speaker 1: behind the curve on inflation sent stocks lower on Monday
Speaker 1: as market interest rates continued to rise. Representatives will connect
Speaker 1: the dots trying to get a commitment from Powell. The
Speaker 1: Fed will ratify the market moves by raising rates sooner
Speaker 1: and faster, and they will ask him about plans for
Speaker 1: shrinking the Fed's balance sheet. Members will also want to
Speaker 1: know more about his plans for non monetary policies at
Speaker 1: the FED. How involved will the Central Bank be in
Speaker 1: climate change initiatives, in regulating cryptocurrencies, in approving bank mergers?
Speaker 1: Michael McKee Bloomberg Daybreak, All right, Michael, thank you. Later
Speaker 1: this week, Lyle Brainerd heads the Capital Hill for her
Speaker 1: confirmation hearing to serve as vice chair of the FED.
Speaker 1: And now we're learning her predecessor, Richard Clarada, was resigning early.
Speaker 1: Bloomberg's Doug Krisner has the story. Clarida will step down
Speaker 1: from the Board of Governors two weeks before his term
Speaker 1: is due to expire. Last week, it was revealed he
Speaker 1: had sold at least a million dollars and shares of
Speaker 1: a U S stock fund in February. A few days later,
Speaker 1: he bought back a similar amount of the same fund
Speaker 1: on the eve of a major FEED announcement. Clarida has
Speaker 1: been a member of the Board and vice chair since
Speaker 1: September twenty teen. President Biden has nominated FED Governor Lyle
Speaker 1: Brainer to succeed Clarida. Her confirmation hearings begin on Thursday
Speaker 1: in New York. I'm Doug Chrisener Bloomberg Daybreak, Doug. Thanks. Meantime,
Speaker 1: the drumbeat for more interest rate hikes from the Fed
Speaker 1: is getting louder. For the latest there were joined live
Speaker 1: by Bloomberg's John Tucker Morney John, Good Morning, Nathan. The
Speaker 1: latest call for faster hikes comes from former New York
Speaker 1: Fed president and current Bloomberg opinion column that's Bill Dudley.
Speaker 1: He says the Central Bank needs to get a lot
Speaker 1: more hawkish. My best guess is you know that did
Speaker 1: they need to do at least four or five rate
Speaker 1: hikes this year? And it wouldn't strike me at all
Speaker 1: if we if we get into an every meeting kind
Speaker 1: of cycle at some point. Bill Dudley, making the comments
Speaker 1: in an interview on Bloomberg Surveillance Swaps. Markets are already
Speaker 1: into getting three or four interest rate hikes from the
Speaker 1: Central Bank this year. Goldman Sachs and JP Morgan Chase
Speaker 1: forecasting four options. Traders also flagging the prospect of eight
Speaker 1: quarter point rate most by early four so from earlier
Speaker 1: acspectations of around six and New York on John Tucker
Speaker 1: Bloomberg Daybreak. All right, John, thank you all. Just a
Speaker 1: couple of months ago, there is hope for a faster
Speaker 1: global recovery, but now that confidence may be fading, and
Speaker 1: Bloomberg's Rnada Young joins us live with the details. Good
Speaker 1: morning Renda, Good morning care. In a new World Economic
Speaker 1: Forum survey finds just one in six government and business
Speaker 1: leaders are optimistic on the global economic recovery, and just
Speaker 1: one intend thinks worldwide economic expansion will pick up speed.
Speaker 1: The Global Risks reports sites the pandemic, climate change, and
Speaker 1: rising social tensions among the biggest concerns. Short term fears
Speaker 1: include health and social damage from COVID nineteen, while economic
Speaker 1: and debt related issues are cited as medium term dangers.
Speaker 1: I'm renied A Young BLOOMMERK Daybreak, Right, Nita, thank you.
Speaker 1: Now we turn to the latest on the pandemic and vaccines.
Speaker 1: Fiser says it's developing a hybrid shot that combines its
Speaker 1: original vaccine with a formulation that shields against the omicron variant.
Speaker 1: According to CEO Albert Bola, Fiser will approach US regulators
Speaker 1: in March four clearance of the shot well. Nathan Maderna
Speaker 1: is also working on a shot end at the omicron
Speaker 1: very end. We caught up with CEO Stephen bon Cell.
Speaker 1: We are moving very aggressively, were even to be in
Speaker 1: a couple of weeks in the clinic Theron specific Vista
Speaker 1: and CEO Stefan bon Cell says Maderna has more than
Speaker 1: eighteen billion dollars in vaccine orders so far this year.
Speaker 1: In Hong Kong, hear and authorities are doubling down on
Speaker 1: their COVID zero policy. The city is reimposing some of
Speaker 1: its strictest limits since the pandemic began. Kindergartens and primary
Speaker 1: schools will close. Passengers from high risk countries will be
Speaker 1: banned from passing through Hong Kong's International airport. Meantime, we're
Speaker 1: seeing as somewhat of an exodus from Hong Kong. Nathan
Speaker 1: expatriots and locals are moving away from the city and
Speaker 1: increasing numbers. And Bloomberg Day Brik Asia anchor Brian Curtis
Speaker 1: has a story. The population decline is running at one
Speaker 1: point two percent since the end of It's the biggest
Speaker 1: drop in at least six decades. Policymakers have stepped up
Speaker 1: their crackdown on still society, and they've brushed aside an
Speaker 1: uproar over aligning with China's COVID zero strategy. The brain
Speaker 1: grain is seen in sectors as education, healthcare, and even finance,
Speaker 1: and critics say it will likely be felt by residents
Speaker 1: for years to come. Brian Curtis Bloomberg Daybreak A right. Brian,
Speaker 1: thanks Back here in the US, the nord stream to
Speaker 1: pipelines in focus on Capitol Hill, the Senate's considering plans
Speaker 1: to impose tough new sanctions on the pipeline that links
Speaker 1: Russia with Germany. Amy Morris has details from our Bloomberg
Speaker 1: newsroom in Washington. The Senate could vote for sanctions this week,
Speaker 1: but some Democrats argue sanctions now could make it more
Speaker 1: likely Russia will invade Ukraine because it would break the
Speaker 1: United States away from Germany, But the Senate vote is
Speaker 1: moving forward as part of a deal between Senate Majority
Speaker 1: Leader Chuck Schumer and Senator Ted Cruz of Texas. Crews
Speaker 1: introduced the sanctions bill while placing a hold on dozens
Speaker 1: of President Biden's foreign policy nominees. This could clear the
Speaker 1: way for those nominees to be confirmed in Washington. I
Speaker 1: maybe Morris Bloomberg daybreak right, MC, thank you all. Turning
Speaker 1: to the markets now. Trading has resumed at the London
Speaker 1: Medal Exchange after a five hour outage. The world's most
Speaker 1: important base metals exchange said it had connectivity issues caused
Speaker 1: by your power outage at a third party data center.
Speaker 1: And straight I had your latest local headlines plus a
Speaker 1: check of sports, and this is Bloomberg. Thanks Staring. It's
Speaker 1: five oh seven on Wall Street. Is called this morning
Speaker 1: eighteen degrees in Central Park. We already have an accident
Speaker 1: on the northbound New York State through Weights and York's
Speaker 1: at fifteen b while details on that for in traffic shortly.
Speaker 1: First Michael Barr with what else is going on in
Speaker 1: New York and around the world. Good morning, Michael, Good morning. Nathan.
Speaker 1: Sorrow fills the Bronx community after Sunday's fire and choking
Speaker 1: smoke and golf to high rise apartment complex. The death
Speaker 1: toll has been lowered to seventeen people killed, eight of
Speaker 1: them children. Prayers were held last nine for the victims
Speaker 1: as friends, neighbors, and strangers sought to console the grieving.
Speaker 1: Firefighters say the blaze was sparked by a faulty space heater,
Speaker 1: but smoke from that fire traveled throughout the building due
Speaker 1: to an open door in the hallway. Mayor Mayor Eric
Speaker 1: Adams says that the fire should convince others to make
Speaker 1: sure fire safety doors in the buildings are closed at
Speaker 1: all times. Close the door. Close the door that was
Speaker 1: embedded in my head as a child watching the commercials
Speaker 1: over and over again. We're going to double down on
Speaker 1: that message. Mayor Adams says. The flames damaged only a
Speaker 1: small part of the building, but smoked poured through the
Speaker 1: apartment's opened door and turned stairwells into death traps. New
Speaker 1: Jersey Governor Phil Murphy warned the residents of his state
Speaker 1: that they are seeing hospital admissions that rivals some of
Speaker 1: the pandemic's worst days. We're in the thick of this
Speaker 1: latest fight against the omicron tsunami washing across the state.
Speaker 1: Governor Murphy is concerned that it's not even the reported
Speaker 1: peak of the omicron variant of the coronavirus that health
Speaker 1: officials have been warning us about. Both and ventilator numbers
Speaker 1: are upstick efficantly and have roughly doubled since Christmas. These
Speaker 1: are the highest numbers with set since May of two
Speaker 1: thousand and twenty. Governor Murphy says many New Jersey towns
Speaker 1: and cities have reintroduced masked mandates. Chicago public schools are
Speaker 1: set to reopen for students tomorrow after the teachers union
Speaker 1: leadership voted to approve a deal with city officials to
Speaker 1: restart in person classes in the nation's third largest school district.
Speaker 1: Schools have been closed since January five, after Chicago teachers
Speaker 1: voted to shift back to remote learning, demanding more stringent
Speaker 1: protections amid a COVID nineteen surge. President Biden travels to
Speaker 1: Atlanta today to push voting rights. Biden, traveling with the
Speaker 1: Vice President, will visit have an easier Baptist church, the
Speaker 1: home pulpit of the late Reverend Martin Luther King. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Take, powered by more than twenty seven under
Speaker 1: journalists and analysts more than a hundred twenty countries. I'm
Speaker 1: Michael bar This is Bloomberg Nick. Thank you. Michael five
Speaker 1: O nine on Wall Street. Time for the Bloomberg Sports Update.
Speaker 1: We've really got a new college football national champion. John
Speaker 1: stash hour. It's been a while, Nathan. The season ended
Speaker 1: in Indianapolis with Alabama against Georgia. They played last month
Speaker 1: for the SEC champions. Obama won that one by seventeen points,
Speaker 1: but Georgia won last night by fifteen. It was closer
Speaker 1: than Obama had leads in the third and fourth quarters,
Speaker 1: but Georgia, after scoring no touchdowns for the first forty
Speaker 1: three and a half minutes, scored four tens in the
Speaker 1: last sixteen and a half and then included a game
Speaker 1: ceiling score in the final minute. Takes an inside hand
Speaker 1: off to Robinson, throws to the near side, intercepted at
Speaker 1: the twenty one yard life and Kili Ringo preet back
Speaker 1: across the field across the thirty inside the twenty three scores.
Speaker 1: The Georgia Bulldogs lead by two scores with fifty four
Speaker 1: seconds to go. We han't had the radio call the
Speaker 1: final thirty three to eighteen. It's Georgia's first national Jamie
Speaker 1: Jipsons herschel Walker led them in nineteen eighty. They lost
Speaker 1: the title game Tobama four years ago in overtime. Crimson
Speaker 1: Tide denied what would have been a seventh title. In
Speaker 1: the last thirteen years. Nicks finally win some home games
Speaker 1: four in a row with the Garden pulled away from
Speaker 1: the Spurs second half and won one e ninety six
Speaker 1: thirty one points for our j Barrett nets in Portland
Speaker 1: without James Harden due to a knee injury. The Blazers
Speaker 1: without Damian Lillard Portland one one, fourteen to one. Oh
Speaker 1: A in Brooklyn's now dropped five of the last seven.
Speaker 1: Rangers beaten by the Kings in l A three to
Speaker 1: one that Dave getleman retirement made official. Giants now looking
Speaker 1: for a new general manager. Three coaches just got fired,
Speaker 1: Matt Nagge in Chicago, Mike Zimmer in Minnesota, and in
Speaker 1: a surprise, Brian flora Is in Miami. The Dolphins finished
Speaker 1: the season going eight and one. John stash Aware Bloomberg
Speaker 1: Sports Nathan Okay, John, thank you right now. S and
Speaker 1: P futures are higher by twenty two points. Now futures
Speaker 1: up a hundred twenty NASAC futures on the rise by
Speaker 1: a hundred eight points. The tenure treasury yield one point
Speaker 1: seven four percent. Ahead of j Palace confirmation hearing, we
Speaker 1: get a preview next from Bloomberg Shington Correspondent Joe Matthew.
Speaker 1: This is Bloomberg Bloomberg Day Break, brought to you by
Speaker 1: the Breakers. This winter, a warm welcome awaits you. The
Speaker 1: Breakers is committed to making your stay even better with
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Speaker 1: visit the Breakers dot Com Today, markets headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot com,
Speaker 1: The Bloomberg Business Outland at Bloomberg Quick Tape. This is
Speaker 1: a Bloomberg Business flash and I'm camerin Moscow. European stocks
Speaker 1: are bouncing back from their biggest decline in six weeks,
Speaker 1: as treasury yields steady a day before a key US
Speaker 1: inflation reading. US futures are heading edging higher, and we
Speaker 1: checked the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg s and P futures up twenty points this morning.
Speaker 1: Now futures have one hundred twelve and nowsdays futures at
Speaker 1: one hundred six. The Dack Center remedies at one point
Speaker 1: two percent ten year treasury at four thirty seconds. He
Speaker 1: had one point seven four percent yield on the two
Speaker 1: year point nine zero percent. Nimex screwed oils up one
Speaker 1: point six percent of a dollar twenty eight at seventy
Speaker 1: dollars fifty one cents a barrel. Comic schooled up four
Speaker 1: tenths per cent or seven dollars fifty cents at eighteen
Speaker 1: o six thirty an ounce. The Euro one point one
Speaker 1: three three six against the dollar, British found one point
Speaker 1: three six oh six and the yetis at one fifteen
Speaker 1: point three nine. And looking at Bitcoin this morning moving
Speaker 1: higher at forty one eight hundred dollars. That's a Bloomberg
Speaker 1: business flash. Now here's Michael Barr with more on what's
Speaker 1: going on around the world. Muncaele, Good morning, Good morning, Karen.
Speaker 1: Investigators are trying to determine why safety doors failed to
Speaker 1: close in the New York City high rise when the
Speaker 1: deadly fire broke out. Failure allow thick smoked billow through
Speaker 1: the tower and kills seventeen people. The Republican National Committee
Speaker 1: sued New York City over a law that will give
Speaker 1: non citizens the ranked vote in local elections, calling in
Speaker 1: a blatant attack on election integrity. Chicago's students will be
Speaker 1: back in the classroom tomorrow. The union and the city
Speaker 1: reached a deal about the COVID safety protocols that led
Speaker 1: to in person classes closing January five. Real estate air
Speaker 1: and convicted murderer Robert Durst has died of cardiac arrest
Speaker 1: at age seventy eight. Georgia eat Alabama thirty three eight
Speaker 1: teen to win college football's national championship. In the NBA,
Speaker 1: the Knicks and Celtics won. The Nets lost in the NHL,
Speaker 1: the Bruins beat the Capitol seven three, the Rangers lost.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven
Speaker 1: under journalist and analysts in more than a hundred twenty countries.
Speaker 1: I'm Michael bar This is Bloomberg, Nathan. Thank you, Michael.
Speaker 1: It's five nineteen on Wall Street Live from the Bloomberg
Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak. We want to
Speaker 1: get more now on our top story this morning. As
Speaker 1: j Powell gets set to go before the Senate Banking
Speaker 1: Committee later this morning for reconfirmation as Chairman of the
Speaker 1: Federal Reserve. For that and all that's happening in the
Speaker 1: nation's capital, We're joined by Joe Matthew, Bloomberg Washing and correspondent,
Speaker 1: host of sound On on Bloomberg Radio. Joe, how many
Speaker 1: times do you suppose we're gonna hear the word inflation
Speaker 1: hearing today? You know, I always think if if there's
Speaker 1: a drinking game, I think it might be transitory. I'm
Speaker 1: just wondering how many members, especially Republican members, want to
Speaker 1: remind j. Powell of that term. And you know, look,
Speaker 1: only in Washington do we see this kind of drama
Speaker 1: surround an event where everyone seems to already know how
Speaker 1: it's gonna end. I mean, he's going to be confirmed.
Speaker 1: This is why President Biden renominated him. J. Powell enjoys
Speaker 1: bipartisan support. Doesn't mean he won't be getting some tough
Speaker 1: questions today, though. This is an opportunity for members to
Speaker 1: to get up front, get on TV, press the chair
Speaker 1: on whether the FED is doing enough, maybe suggest that
Speaker 1: it's not, and in question whether it started this tightening
Speaker 1: regime too late. Uh. Transitory yes, Inflation, yes, especially from
Speaker 1: Republican senators. To your point that we had to look
Speaker 1: at Powell's opening remarks and he will he'll deliver the
Speaker 1: magic words that everyone is looking to hear six words
Speaker 1: prevent inflation from becoming entrenched. This has been echoing since
Speaker 1: last night when it was released. That's the idea here,
Speaker 1: that's what they want to get from the FED chair.
Speaker 1: And while that will be the focus here inflation, Uh,
Speaker 1: he's likely to get a near full again from Senator
Speaker 1: Elizabeth Warren. It's gonna be focusing on regulation and we'll
Speaker 1: have a little more to say about that when Leo
Speaker 1: Brainard has her confirmation hearing later on this week. Uh.
Speaker 1: This comes down to the Fed's personal trading policy. After
Speaker 1: this news that Richard Clarada is leaving two weeks early
Speaker 1: because of his own million dollar trading disclosure, this is
Speaker 1: exactly what Warren was warning about, the same Elizabeth Warren
Speaker 1: who has publicly called J Powell Nathan a dangerous man.
Speaker 1: Dangerous man. That's exactly right. I guess that begs the
Speaker 1: question whether for markets, the more important hearing this week
Speaker 1: is J Powell's or Lyle Brainerd's. What's the feeling in Washington? Well,
Speaker 1: I think they're actually gonna be pretty similar, to be
Speaker 1: honest with you. And this was again, remember we have
Speaker 1: still have three open seats that have to be filled.
Speaker 1: These were supposed to be the two easy ones, Nathan,
Speaker 1: when when Joe Biden walked into the South Court auditorium
Speaker 1: over there in the White House complex with j Powell
Speaker 1: and Layle Brainers, this was the duo here, right, This
Speaker 1: was supposed to be the easy part, the part with
Speaker 1: bipartisan support, that which brought continuity to the markets, let
Speaker 1: lawmakers rest easy at night. Uh. The next three however,
Speaker 1: could be a different matter as we expect more progressive
Speaker 1: members with more diverse ideas, and those could be challenged
Speaker 1: by members of the Banking Committee. And the time we
Speaker 1: have left Joe. The other big story we're gonna be
Speaker 1: watching today as President Biden heading down to Atlanta this afternoon,
Speaker 1: in this new push for voting rights legislation after the
Speaker 1: setbacks for the president's economic agenda, is this likely to
Speaker 1: be the focus for the rest of the year for
Speaker 1: President Biden? The rest of the year, Yeah, was well
Speaker 1: straight through November. This is that we've got midterm elections
Speaker 1: on the brain. Here. There are questions, maybe maybe from
Speaker 1: some critics who suggest that this is a vanity project
Speaker 1: for Joe Biden and for Democratic leaders because it's not
Speaker 1: likely to pass. They they they don't have the votes
Speaker 1: to pass this voting rights legislation unless there's a carve
Speaker 1: out in the filibuster or Joe Mansion and Kerson Cinema,
Speaker 1: two familiar names, don't support doing that. But this is
Speaker 1: for the base. This is to stirrup passions. This is
Speaker 1: to motivate Democrats who might be getting a little bit
Speaker 1: complacent after watching Bill back Better fall apart the end
Speaker 1: of last year. To get them out there, get them
Speaker 1: thinking about what happened in twenty and get them voting.
Speaker 1: If this does not pass as expected, that in itself
Speaker 1: could be a motivator for Democrats in the midterm election year.
Speaker 1: Interesting in our last minute here to frame this as
Speaker 1: a base motivator when for a lot of the president's allies,
Speaker 1: the push for voting rights was something they had really
Speaker 1: been wanting to see from him from the get go. Yeah,
Speaker 1: that's true. And they're still talk about reforming the Electoral
Speaker 1: Count Act. That would actually prevent what, you know, what
Speaker 1: could have happened last January six, That would make uh
Speaker 1: the Vice president's job ceremonial essentially in the way that
Speaker 1: the votes are codified and certified. But again, the Democrats
Speaker 1: are concerned about that because they think it's a distraction
Speaker 1: from the real issues, and they're watering down what it
Speaker 1: is they really want to do to protect voting rights
Speaker 1: going forward. The President will speak passionately today, we're told
Speaker 1: from the White House as well about his support for
Speaker 1: changing that philipbus To rule, which would be a big
Speaker 1: deal in Washington, certainly would be Joe Matthew as always,
Speaker 1: thanks for keeping us up to speed on what's happening
Speaker 1: in the nation's capital. Of course, you'll be able to
Speaker 1: hear much more from Joe and his guests when you
Speaker 1: tune in for Bloomberg sound On coming up at five
Speaker 1: pm Wall Street Time right here on Bloomberg Radio. And
Speaker 1: that of course will come after j pals confirmation hearing
Speaker 1: before the Senate Banking Committee that begins at ten am
Speaker 1: Wall Street time. We will have live coverage of that
Speaker 1: hearing as well, right here on Bloomberg Radio. Ahead of
Speaker 1: all that, ahead of the market open, futures are moving higher.
Speaker 1: We have SMP futures up nineteen points right now, DAL
Speaker 1: futures up a hundred NASTAC futures on the rise by
Speaker 1: a hundred one points. And you're listening to Bloomberg Daybreak
Speaker 1: Good morning, Bloomberg eleven three oh weather sunny but called today.
Speaker 1: Might get to twenty degrees for an afternoon high tomorrow.
Speaker 1: Partly sunny behind your forty, mostly cloudy in your forty
Speaker 1: for Thursday seventeen degrees Right now, Broadcasting live from the
Speaker 1: Bloomberg Interactive Broker Studio in New York. Bloomberg E living
Speaker 1: free to Washington, d C, Bloomberg nine one to Boston,
Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg NUN
Speaker 1: sixty to the country, Sirius XM to the one nineteen
Speaker 1: and around the globe, the Bloomberg Business app and Bloomberg
Speaker 1: Radio dot Com. This is Bloomberg Daybreak. It's by thirty
Speaker 1: on Wall Street. Good morning. I'm Nathan Hagar and I'm
Speaker 1: Kared Moscow, and we are just about four hours away
Speaker 1: from the open of US trading. Let's get you up
Speaker 1: to date on the news. You need to know what sour.
Speaker 1: US futures are higher this morning ahead of a confirmation
Speaker 1: hearing for J. Powell. Fed share plans to town Senators
Speaker 1: at the Central Bank will prevent higher inflation from a
Speaker 1: coming in. Trenched ad mills is a Washington policy Analysted
Speaker 1: Raymond James J. Powell is getting confirmed in his job
Speaker 1: is to give Republicans a reason to stick with him,
Speaker 1: to vote for his reconfirmation. If you are J Powell,
Speaker 1: you're talking about inflation. You're talking about what you're going
Speaker 1: to do next, and mills of Raymond James spoke of
Speaker 1: our Washington correspondent Joe Matthew on Bloomberg's Sound on Catch
Speaker 1: the Program weekdays at five pm Eastern on Bloomberg Radio. Well, Meantime, Karen,
Speaker 1: the drum beat for more interest rate hikes from the
Speaker 1: Fed is getting louder. Let's get the details live with
Speaker 1: Bloomberg's John Tucker, John and Nathan Schwappze in the Cave.
Speaker 1: The FEDS target will be eight basis points higher by
Speaker 1: the end of this year, assigned the markets baking in
Speaker 1: three hikes plus the possibility of a fourth. Former New
Speaker 1: York President Bill Dudley says the Central Bank needs to
Speaker 1: get more hawkish. JP Moore, are Gonna Goldman Sacks or
Speaker 1: forecasting for rate increases this year, and tomorrow's CPI report
Speaker 1: could put more pressure on the Fed, with forecast calling
Speaker 1: for an annual inflation rate north of seven percent. New
Speaker 1: York on John Tucker Bloomberg, deybreak right, John, thank you
Speaker 1: thows inflation picks up. Confidence in a global economic recovery
Speaker 1: appears to be fading. The details on that now from
Speaker 1: Bloomberg's or need too Young. A World Economic Forum survey
Speaker 1: finds just one in six government and business leaders are
Speaker 1: optimistic on the global recovery, and just one in ten
Speaker 1: things worldwide economic expansion will pick up speed. The Global
Speaker 1: Risks Report sites the pandemic, climate change, and rising social
Speaker 1: tensions among the biggest concerns, and those polled wants to
Speaker 1: see greater coordination among leaders to try to solve the
Speaker 1: world's problems. I'm really need a young Bloomberg debreak. All right,
Speaker 1: we need to thank you know when it comes to
Speaker 1: the pandemic. Fiser is working on a new vaccine. Companies
Speaker 1: developing a hybrid shot that combines its original vaccine with
Speaker 1: a formula that shields against the omicron variant. Finder says
Speaker 1: it will approach you US regularly ds in March for
Speaker 1: clearance of the shot. And Nathan. On the political front,
Speaker 1: lawmakers have the Nordic stream to pipeline in their site
Speaker 1: to send a good vote This week to impose new
Speaker 1: sanctions on the conduit that links to Russia and Germany.
Speaker 1: There's broad congressional opposition to the pipeline, but some Democrats
Speaker 1: where his sanctions could complicate talks between the US and
Speaker 1: Russia over Ukraine. And again, futures are moving higher this morning.
Speaker 1: SMP futures up nineteen points, DOW futures of ninety nine,
Speaker 1: Nastagg futures of ninety eight. Straight ahead, your latest local headlines,
Speaker 1: plus a check of sports. And this is Bloomberg. Thanks Karen.
Speaker 1: It's five thirty three on Wall Street. It is really
Speaker 1: called seventeen degrees in Central Park up bad tractor trailer
Speaker 1: crash as the northbound Eagan closed at a hundred seventy nine.
Speaker 1: While the details for you in traffic. First, we have
Speaker 1: Michael Barr with more on what's going on in New
Speaker 1: York and around the world. Michael, thank you very much.
Speaker 1: Nathan Tennants of the Bronze Department building where a deadly
Speaker 1: fire broke out Sunday, had complained about the lack of eat,
Speaker 1: a broken radiator, and a door that didn't close properly
Speaker 1: in the months before the blaze. According to city records,
Speaker 1: City officials say the fire appeared to have come from
Speaker 1: a malfunctioning space eater in an apartment, where residents fled
Speaker 1: without closing the door. The billowing black smoke turned stairwells
Speaker 1: into death traps. New York Mayor Eric Adams this painful
Speaker 1: moment can turned in to a purposeful moment as we
Speaker 1: send the right message of something simple as closing the door.
Speaker 1: Mayor Adams says the death toll of the fire has
Speaker 1: been lowered to seventeen dead. New York's COVID nineteen infections
Speaker 1: may have reached a peak about a month after the
Speaker 1: city's first case of the omicron variant was identified. According
Speaker 1: to the New York City Health Department, the seven day
Speaker 1: average of people visiting emergency departments with COVID like illness
Speaker 1: has dipped significantly in all five burrows since the end
Speaker 1: of December. Meanwhile, New Jersey health officials say they may
Speaker 1: have eight thousand COVID related hospitalizations nearing the state's pandemic
Speaker 1: peak in the third week of January. Governor Phil Murphy,
Speaker 1: we're recording more deaths tragically now, more than any point
Speaker 1: in the past year. And remember, remember one year ago,
Speaker 1: we had only just begun our vaccination efforts. Governor Murphy
Speaker 1: says many towns and cities in New Jersey have reintroduced
Speaker 1: masked mandates. Chicago students plan to resume classes tomorrow after
Speaker 1: leaders of the teachers union accepted a proposal with the
Speaker 1: district over COVID nineteen safety protocols. Both sides had been
Speaker 1: locked in an increasingly bitter standoff that canceled classes for
Speaker 1: five days. Chicago Mayor Lorie Lightfoot, some will ask whom
Speaker 1: one and who lost? No one wins when our students
Speaker 1: are out of the place where they can learn the
Speaker 1: best and where they're safest. The full deal still requires
Speaker 1: approval by the union's full membership. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quick Tank,
Speaker 1: powered by more than journalists and analysts more than a
Speaker 1: d twenty countries. Michael Barr, this is Bloomberg, Nathan, all right, Michael,
Speaker 1: thank you. On wall st Let's get a Bloomberg sports update.
Speaker 1: Now here's John stenshow thanks Nathan. Four years ago, Georgia
Speaker 1: lost the National championship game to Alabama in overtime, and
Speaker 1: then last month the Bulldogs perfect season spoiled by the
Speaker 1: Crimson Tide in the YESCCN championship game. Same two teams
Speaker 1: last night in Indianapolis. Bama lad nine six late third quarter.
Speaker 1: Georgia then went ahead a sixty seven yard run set
Speaker 1: up the game's first touchdown. Fourth quarter, Crimson Tide back
Speaker 1: on top, but then it was Georgia's turn second and
Speaker 1: eighteen eight eighteen to go to clock running BATA leading
Speaker 1: by five showing blitz three plays out up. Alabama was offside,
Speaker 1: so here's a deep throat to the end Zode. It
Speaker 1: is touchdown by a d D. The call forty yard
Speaker 1: t D. Georgia later had another TV pass and a
Speaker 1: seventy nine yard pick six in the final minute. Georgia
Speaker 1: beat Alabama thirty three to eight. Seen first national championship
Speaker 1: for the Bulldogs since nineteen eighty at the Guard. Another
Speaker 1: big game for R. J. Barrett. He had a thirty
Speaker 1: two point game last week also that game winning buzzer beater,
Speaker 1: and Barrett went for thirty one Last night, nix S
Speaker 1: meet the Spurs one ninety six. Nets lost in Portland
Speaker 1: one fourteen to one oh eight. Kevin durant in defeat
Speaker 1: twenty eight points. Kyrie Irving's second game of the season.
Speaker 1: He played forty minutes, scored twenty two. Rangers lost in
Speaker 1: l A to the King's three to one Black Monday,
Speaker 1: in the NFL, three coaches got fired, Matt Naggey in Chicago,
Speaker 1: Mike Zimmer in Minnesota, and in a surprise, Brian Flores
Speaker 1: in Miami, not Joe Judge. He did meet with Giants
Speaker 1: owner John Barra on the day of the day of
Speaker 1: gentleman retirement was made official. Mara and the Giants have
Speaker 1: a gun to search for a new general manager. Don
Speaker 1: Maynard passed away at a A J eight six drafted
Speaker 1: by the Giants. They cut him and he went to
Speaker 1: the Jets and became a Hall of Fame wide receiver.
Speaker 1: John Stashward Bloomberg Sports Nathan John Thanks. It's five thirty
Speaker 1: seven on Wall Street. Time for the Tri State Business Report.
Speaker 1: Here's Bloomberg's head Cory. New York's Broadway theaters will extend
Speaker 1: their man ask and vaccine requirements through April. At the
Speaker 1: same time, the city's infections may have reached a peak
Speaker 1: about a month after the first case of the omicron
Speaker 1: variant was identified. There. JP Morgan's CEO, Jamie Diamond says
Speaker 1: that the New York headquarters of the firm's employees are vaccinated.
Speaker 1: The company last months began requiring vaccines at nine Manhattan
Speaker 1: Novice buildings, but has so far stopped short of requiring
Speaker 1: shots for all employees. Unlike competitors City Group, New York
Speaker 1: business owners are saving billions by sidestepping the cap on
Speaker 1: state and local tax deductions. Dal Jones says business has
Speaker 1: paid the state eleven billion dollars and passed through entity
Speaker 1: taxes by the end of one They shifted their state
Speaker 1: income taxes from their individual tax returns to their business filings,
Speaker 1: but the cap doesn't affect them. That's your Bloomberg Try
Speaker 1: State Business Report. I'm Ed Corey, Thank you. Edit's on
Speaker 1: Wall Street. Bloomberg Radio is on the air from San
Speaker 1: Francisco to New York, London to Hong Kong. Let's check
Speaker 1: in with our global news team for some of the
Speaker 1: stories heard on our three hundred affiliate radio stations around
Speaker 1: the world. I'm Steve Potas, got on ten ten Wins
Speaker 1: in New York. We're looking at the Bloomberg Prett Index
Speaker 1: and how walls free, bankers staying home, sains, sandwich sales plunging,
Speaker 1: um Corney, Dadaho on ktr H in Houston. Heat firing
Speaker 1: storms have caused one hundred forty five billion dollars and
Speaker 1: damages across the US. I'm Caroline hit Full bloombg da
Speaker 1: B Digital Medio in London. We're be putting on the
Speaker 1: consumers splurge over Christmas as UK retail sales jumps in December,
Speaker 1: according to the British retail Consultia. I'm in Corey on
Speaker 1: w T A M in Cleveland. I'm reporting the Starbucks
Speaker 1: Downtown could become the copy chains first unionined story at Ohio.
Speaker 1: And those are some of the stories our twenty seven
Speaker 1: hundred Bloomberg journalists and analysts are working on this morning
Speaker 1: around the world. It's five thirty nine on Wall Street.
Speaker 1: The following is an editorial from Bloomberg Opinion. Less than
Speaker 1: a year after canceling Donald Trump's Remained in Mexico policy
Speaker 1: for migrants attempting to enter the US, the Biden administration
Speaker 1: has started enforcing it again, all too reluctantly. Some background.
Speaker 1: In August, a federal judge found that Biden had improperly
Speaker 1: rescinded the policy and ordered it reinstated. A ruling upheld
Speaker 1: by the Supreme Court. The White House has done so,
Speaker 1: but it insists that it does not acting early, and
Speaker 1: has asked the High Court to revisit its ruling. The
Speaker 1: administration would be better off working to make the program
Speaker 1: more efficient and humane. Biden's rush to undo his predecessors
Speaker 1: policies has undermined public support for the comprehensive immigration reforms.
Speaker 1: The US needs strengthening this policy rather than discarding it,
Speaker 1: would be the best way to restore confidence in the
Speaker 1: government's ability to administer a fair and orderly system. This
Speaker 1: editorial was written by the Bloomberg Opinion editorial Board. I'm
Speaker 1: David Shipley. For more Bloomberg opinion, please go to Bloomberg
Speaker 1: dot com, slash opinion or op i and go on
Speaker 1: the Bloomberg terminal. These has been Bloomberg Opinion. You can
Speaker 1: hear Bloomberg opinion editorials every weekday at this time, and
Speaker 1: terminal customers can read more at O, P, I, n GO,
Speaker 1: SMP futures. Right now, we're up nineteen point, staff futures
Speaker 1: higher by ninety nine. Nastact features up a hundred one points.
Speaker 1: The tenure treasury is up one thirty second. They yield
Speaker 1: one point seven five. You're listening to Bloomberg Daybreak Bloomberg
Speaker 1: eleven three oh weather sunny but cold today, high only
Speaker 1: near twenty degrees, partly Sunday tomorrow with the hind your
Speaker 1: forty well mostly cloudy in near forty on Thursday. Right
Speaker 1: now seventeen degrees in Central Park. Markets headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quicktape. He's a
Speaker 1: Bloomberg Business Flash, and I'm Karen. Moscow and European stocks
Speaker 1: are bouncing back from their biggest decline in six weeks,
Speaker 1: as treasury yields to steady a day of for a
Speaker 1: key US inflation reading. US dock index futures are on
Speaker 1: the rise. S and P futures up twenty one points
Speaker 1: this morning, Down futures up a hundred six, Nastack futures
Speaker 1: up one hundred eleven. And we checked the markets every
Speaker 1: fifteen minutes throughout the trading day on Bloomberg. The decks
Speaker 1: in Germany's up one point one percent, ten year treasury
Speaker 1: up one thirty second. He had one point seven five percent.
Speaker 1: They yield on the two year point nine zero percent
Speaker 1: nine max screwed oil is up one point four percent
Speaker 1: of a dollar eight at seventy nine dollars thirty one
Speaker 1: cents a barrel comic school that the third of u
Speaker 1: percent or six dollars at eighteen o four eight and
Speaker 1: ounce the euro one point one three three one against
Speaker 1: the dollar British found one point three six so four
Speaker 1: begins at one fifteen point four four and bitcoin this
Speaker 1: morning at forty one thousand, seven hundred dollars. That's a
Speaker 1: Bloomberg business flash. Now, where's Michael Barr with more on
Speaker 1: what's going on around the world. Michael Karen, thank you
Speaker 1: very much. An investigation is underway into the Bronx department
Speaker 1: fire that took at least seventeen lives, including eight children.
Speaker 1: A space eater is being blamed for the cars of
Speaker 1: the fire, but the apartment door didn't close, sending thick
Speaker 1: black smoke throughout the building. New York Mayor Eric Adams
Speaker 1: called it a global tragedy because many of the victims
Speaker 1: are immigrants from Gambia in West Africa. A deal has
Speaker 1: been reached a gets schools open again in Chicago. Students
Speaker 1: will be back in the classroom tomorrow. After teachers walked
Speaker 1: out January five, the teachers union and the city reached
Speaker 1: an agreement over safety precautions around COVID nineteen. Georgia beat
Speaker 1: Alabama thirty three eighteen to win college football's national championship.
Speaker 1: In the NBA, the Nicks and Celtics won. The Nets
Speaker 1: lost in the NHL, the Bruins beat the Capitol seven three,
Speaker 1: the Rangers lost. Global news twenty four hours a day
Speaker 1: on here and on Bloomberg Quit take powered by more
Speaker 1: than twenty seven hundred journalists and analysts and more than
Speaker 1: a hundred twenty countries. I'm Michael Barr. This is Bloomberg.
Speaker 1: Nathan Okay, Michael. Thanks, It's five nine on Wall Street
Speaker 1: Live from the Bloomberg Intractor Broker's studios. This is a
Speaker 1: Bloomberg Daybreak and we want to turn to the latest
Speaker 1: now on a pandemic, including Fiser talking about a hybrid
Speaker 1: vaccine to protect against the omicron variant. Dr Stewart Ray
Speaker 1: is with us this morning, Vice Chair of Medicine at
Speaker 1: the Johns Hopkins University School of Medicine, Dr Ray, It's
Speaker 1: good to have you with us this morning. Let's start there,
Speaker 1: because we spoke with Visor CEO Albert Bordley yesterday. He
Speaker 1: was saying that he could go before US regulators by
Speaker 1: March for emergency clearance on a hybrid vaccine that would
Speaker 1: combine the original shot with a new formulation tailored for
Speaker 1: O macron. Do you think this is the kind of
Speaker 1: treatment that's going to be necessary? Well, I certainly hope
Speaker 1: that it works for what we wanted to do, which
Speaker 1: is to protect people against the broad range of virus
Speaker 1: that we have. Now, since we have two UH Strainscron
Speaker 1: and UH delta that are diversifying, I think we're going
Speaker 1: to need UH some tools to protect people. And we
Speaker 1: have kids now with rising hospitalization UH eights, and so
Speaker 1: we are worried about the broad range and vulnerable people.
Speaker 1: We need this tool, but we'll have to see whether
Speaker 1: it's as effective as we hope it is. Obviously there's
Speaker 1: been some concern with the amount of breakthrough cases we've
Speaker 1: seen as to whether the current vaccines are effective. Do
Speaker 1: you think they are? Should we start thinking about shortening
Speaker 1: booster times even further? I mean it's already gone down
Speaker 1: from six months to five the recommendation for getting another
Speaker 1: MR and a shot. Well, we it looks like the
Speaker 1: boosters that we've given are protecting against severe disease, and
Speaker 1: so we do have that protection, but we could help
Speaker 1: limits spread. The man variants included in the vaccine might
Speaker 1: help us limits spread more because it's a little better targeted.
Speaker 1: I think we're all worried about whether the next variance
Speaker 1: is around the corner, coming from a place we're not
Speaker 1: watching right now. So I think that boosting maybe what
Speaker 1: we have to do. But the major source of severe
Speaker 1: disease right now is folks who haven't received vaccination yet,
Speaker 1: and so getting into that population is a major priority.
Speaker 1: At the same time, we're seeing more evidence about the
Speaker 1: effectiveness of T cells in protecting against COVID. There's a
Speaker 1: new study out of London Imperial College, London that points
Speaker 1: to the effectiveness of T cells. What could that mean
Speaker 1: when it comes to treatment. Well, I think that when
Speaker 1: we UH think about how immune system works, it's easy
Speaker 1: to measure autibodies, it's very hard to measure T cells.
Speaker 1: In comparison, UH T cells can target any part of
Speaker 1: the barrel proteins. And so while we talk about the
Speaker 1: sixty or so changes in overcrone UH, there's ten thousand
Speaker 1: amino acids and the virus, and there's uh a twelve
Speaker 1: hundred in the spike protein, so the number of changes
Speaker 1: is not that big, and T cells can recognize any
Speaker 1: of those little pieces of the virus that have not changed,
Speaker 1: so do provide us protection. It's a big reason why
Speaker 1: vaccination can protect even when the antibody levels are not
Speaker 1: great against a new variant. So that's that's wonderful. We
Speaker 1: can't easily give to cells to people, and so the
Speaker 1: best way to give them effect of two cells is
Speaker 1: to vaccinate them, and so that's what we'll be prioritizing.
Speaker 1: All right, we have about a minute left here. I
Speaker 1: want to ask, when you think we'll start to think
Speaker 1: about the COVID pandemic as being more endemic around the world.
Speaker 1: Is this something we should be talking about now. I
Speaker 1: think it's worth anticipating that that state, and I think
Speaker 1: it's possible that we would see something like that in
Speaker 1: many areas later this year. I think that the question
Speaker 1: is going to be when this stops disrupting. Clearly, it's
Speaker 1: incredibly disruptive. Right now. Our health care system is stretched
Speaker 1: in many areas, and I think in areas that have
Speaker 1: been relatively spared so far this winter. UH there may
Speaker 1: be UH signs that the spread is increasing in those areas,
Speaker 1: and some of those areas are relatively under vaccinated, and
Speaker 1: so we may see a big impact there. But once
Speaker 1: this very infectious overcrone variant has run its UH way
Speaker 1: through the population, we may see higher levels of immunity.
Speaker 1: The cost will be tremendous, but we may be in
Speaker 1: a place where, unless we see a variant that really
Speaker 1: escapes the immune responses that democrones generated, we may be
Speaker 1: a more endemic state. All right, As always, Dr Ray,
Speaker 1: thank you for your insights. Dr Stewart Rays, Vice Chair
Speaker 1: of Medicine at the Johns Hopkins School of Medicine, Karen Nathan,
Speaker 1: thank you. It's five fifty three on Wall Street. Time
Speaker 1: for our Bloomberg Law Report. Let's get to the legal
Speaker 1: stories we're watching this morning. From Bloomberg's Jeff Bellinger, the
Speaker 1: Lightning Administration moved to require private insurance companies and group
Speaker 1: health plans to cover the cost of at home rapid
Speaker 1: COVID nineteen test kits beginning Saturday. A federal judge just
Speaker 1: missed the lawsuit brought by more than a dozen Los
Speaker 1: Angeles police officers who were seeking religious exemptions from the
Speaker 1: city's vaccine or test mandate. California Governor Gavin Newsom's proposed
Speaker 1: budget includes billions of dollars to combat climate change. Funding
Speaker 1: to battle wildfires would be increased. Bloomberg Law everything you need,
Speaker 1: all on one legal research platform, including guidance analysis and
Speaker 1: Bloomberg market Intelligence. Find out more at Bloomberg law dot com.
Speaker 1: All right, Jeff, thank you. Now. Another legal story where
Speaker 1: watching brings us to the Supreme Court justices are weighing
Speaker 1: in on the Biden administration's vaccine policies. During oral arguments,
Speaker 1: the Court's six conservatives seem skeptical about whether OSHA had
Speaker 1: authority to require shots or require COVID tests for workers.
Speaker 1: At the same time, they were not as skeptical about
Speaker 1: a mandate that would apply to nearly all healthcare staff
Speaker 1: in the country. For more in the case, Bloomberg, student
Speaker 1: Grosso speaks to Robert Field, a professor of law health
Speaker 1: management policy at Directual University. Is this more about their
Speaker 1: seeming assault on the administrative state and agency power? I
Speaker 1: think that's definitely part of it, and when they issue
Speaker 1: their ruling, we will see how important their focus on
Speaker 1: administrative power is But there was a clear division between
Speaker 1: the conservatives who said, in essence, the most serious concern
Speaker 1: was government overreach and wanting to reign in the administrative state,
Speaker 1: and the liberal justices who were saying, hundreds of thousands
Speaker 1: of human lives are at stake, that's what's most important,
Speaker 1: and the job of the government is to act as
Speaker 1: vigorously as it can to stama crisis like that. So
Speaker 1: would you say that, based on the oral arguments, the
Speaker 1: court will strike down the employer mandate? I think based
Speaker 1: on what all six of the conservative justices were saying,
Speaker 1: it will be struck down because of one rationale or
Speaker 1: now there the question is how much latitude will OSHA
Speaker 1: have to reissue it? So, if it's based on the
Speaker 1: rule being too broad, would also be able to come
Speaker 1: back and issue a targeted rule? Will they be able
Speaker 1: to issue a rule that goes through the regular process
Speaker 1: of soliciting comments from people and simply issue this rule
Speaker 1: but not on an emergency basis. Was there less opposition
Speaker 1: from the conservative justices to the healthcare mandate? Yeah, and
Speaker 1: my guess there's enough agreement among enough conservatives that that
Speaker 1: rule will will hold up. I don't think it's that
Speaker 1: different for many of the rules that the government already
Speaker 1: imposes on hospitals to promote health and safety among the patients,
Speaker 1: and that it applies to fewer people. The Ocean rule
Speaker 1: applies to about eighty million, the Medicare Medicaid rule much
Speaker 1: less than that. I think it's familiar to and logistically,
Speaker 1: you don't have to work in healthcare. If you don't
Speaker 1: like that mandate, you can get a job somewhere else.
Speaker 1: If all large employers have to enforce the mandate, there's
Speaker 1: really very two other options. And that's actually University law
Speaker 1: professor Robert Field speaking at the Bloomberg Student grosz So.
Speaker 1: Catch more event interview plus analysis of the latest legal
Speaker 1: news by listening to the Bloomberg Law Show at ten
Speaker 1: pm Eastern Time or subscribing to the Bloomberg Law Podcast,
Speaker 1: and attorneys can find exceptional legal research and business development
Speaker 1: tools at Bloomberg Law dot com. Futures this morning are
Speaker 1: moving higher, S ANDP futures up twenty points down, futures
Speaker 1: up ninety two, NASDACK futures have one hundred six and
Speaker 1: the ten year treasury up to thirty seconds held one
Speaker 1: point seven five percent still ahead on Bloomberg daybreak and
Speaker 1: check on the business headlines and all the news you
Speaker 1: need to start your day. And this is Bloomberg.