WEBVTT - Bloomberg Daybreak: April 7, 2022 - Hour 1 (Radio) 0:00:02.480 --> 0:00:05.760 By from the Bloomberg Interactive Burger Studios. This is Bloomberg 0:00:05.840 --> 0:00:09.479 day Break for Thursday, April seven two. Coming up this hour, 0:00:09.720 --> 0:00:12.319 the US and its allies line up more sanctions on 0:00:12.400 --> 0:00:15.600 Russia as the trust cities in Ukraine grow. Stock sell 0:00:15.640 --> 0:00:18.480 off after hawkish minutes from the Federal Reserve, and we'll 0:00:18.480 --> 0:00:21.040 tell you which company surging on news of a four 0:00:21.120 --> 0:00:24.160 billion dollars steak from Warren Buffett. The rate of major 0:00:24.200 --> 0:00:27.160 crimes in New York City is up. Plus It's confirmation 0:00:27.280 --> 0:00:30.120 day for Supreme Court nominee the Donjy Brown Jackson. I 0:00:30.240 --> 0:00:33.120 might be warm. More ahead, I'm John S Showering Spards. 0:00:33.120 --> 0:00:35.320 Second half, come back by the Nets to beat the NIXT. 0:00:35.400 --> 0:00:37.720 The Master's teams off today and the Mets open their 0:00:37.800 --> 0:00:47.280 seeds in in Washington. That's all straight ahead on Bloomberg 0:00:47.320 --> 0:00:52.480 day Break on Bloomberg eleven FREEO New York, Bloomberg one, Washington, 0:00:52.560 --> 0:00:56.160 d C, Bloomberg one oh six one, Boston, Bloomberg nine 0:00:56.200 --> 0:01:00.600 sixties and Francisco Sirius x M one nineteen and around 0:01:00.640 --> 0:01:03.360 the world on the Bloomberg Radio dot com and via 0:01:03.400 --> 0:01:09.280 the Bloomberg Business App. Good morning, I'm Nathan Hagar and 0:01:09.360 --> 0:01:13.480 I'm Karen. Moscow and SMP futures are higher this morning, 0:01:13.560 --> 0:01:15.360 where coming up to five A one on Wall Street, 0:01:15.360 --> 0:01:17.600 and we check the markets every fifteen minutes throughout the 0:01:17.600 --> 0:01:21.800 trading day. On Bloomberg, SMP futures up eight points down 0:01:21.840 --> 0:01:24.800 futures are a little changed, and Nastack futures are up 0:01:24.840 --> 0:01:28.600 sixty five. The decks in Germany's up about half percent. 0:01:28.880 --> 0:01:31.640 Ten year treasury up eight thirty seconds, yield two point 0:01:31.640 --> 0:01:33.920 five six percent, and the yield on the two year 0:01:34.040 --> 0:01:37.200 two point four two percent. NIMEX screwed oil is up 0:01:37.240 --> 0:01:39.880 half percent, or forty five cents at ninety six dollars 0:01:39.920 --> 0:01:42.759 sixty eight cents a barrel. Nathan, all right, Karen, we'll 0:01:42.760 --> 0:01:44.400 have more on the markets in a minute. First, the 0:01:44.480 --> 0:01:47.920 latest on the war and more evidence of atrocities against 0:01:47.920 --> 0:01:51.400 civilians in Ukraine. The US and its allies are lining 0:01:51.480 --> 0:01:54.560 up more sanctions on Russia. Amy Morris has more from 0:01:54.600 --> 0:01:58.960 our Bloomberg newsroom in Washington. These new sanctions target two 0:01:59.000 --> 0:02:02.760 of Russia's biggest banks and Vladimir Putin's adult daughters. Chattam 0:02:02.760 --> 0:02:07.000 House associate fellow Katerina Waldschuck tells Bloomberg Television. Russia was 0:02:07.080 --> 0:02:09.760 the eleventh largest economy in the world, so there are 0:02:09.880 --> 0:02:14.560 consequences beyond Russia's borders. Wolfs the West now really reckons 0:02:14.639 --> 0:02:18.839 with is the func that we have very extensive interdependence 0:02:18.919 --> 0:02:23.000 with Russia, with Russians, with the financial institution for Russian bunks, 0:02:23.000 --> 0:02:27.240 but specifically energy swell and European foreign ministers are likely 0:02:27.240 --> 0:02:29.600 to discuss an oil embargo on Russia when they meet 0:02:29.680 --> 0:02:33.240 next week. Ukraine's foreign minister pleaded for more weapons during 0:02:33.240 --> 0:02:36.400 a NATO meeting in Brussels. The mayor of Mariople says 0:02:36.480 --> 0:02:39.440 more than five thousand civilians have been killed in his city. 0:02:39.800 --> 0:02:42.880 In Washington, I'm maybe Morris Bloomberg daybreak, all right, Amy, 0:02:42.919 --> 0:02:44.920 thank you all. Another note on the war. It looks 0:02:44.960 --> 0:02:48.160 like the United Nations General Assembly could end up suspending 0:02:48.240 --> 0:02:50.919 Russia from the Human Rights Council. The Council plans to 0:02:51.040 --> 0:02:53.519 vote on the matter later today. One the days after 0:02:53.560 --> 0:02:56.480 the war began, careing the Russian ruble collapse, Remember that 0:02:56.600 --> 0:02:59.359 sanctions on Moscow sank it to a record low of 0:02:59.360 --> 0:03:02.360 a hundred only one per dollar. Things look dire enough 0:03:02.520 --> 0:03:05.560 that President Biden said the ruble had been reduced to rubble. 0:03:06.080 --> 0:03:07.960 Now the ruble has surged all the way back to 0:03:08.000 --> 0:03:11.119 where it was before Putin invaded Ukraine. Right now it's 0:03:11.120 --> 0:03:14.520 trading around eighty per dollar. Well, Nathan, we're seeing fallout 0:03:14.520 --> 0:03:17.799 this morning from a one company's exit from Russia. Shares 0:03:17.840 --> 0:03:20.800 of Shell are down one percent in European trading. The 0:03:20.840 --> 0:03:23.480 oil giant said it's withdrawal from the country. It will 0:03:23.480 --> 0:03:27.240 result in four to five billion dollars of impairments. Shall 0:03:27.320 --> 0:03:30.480 also warrants that price volatility in the first quarter could 0:03:30.520 --> 0:03:32.800 hit cash flow. All right, let's shift to the economy 0:03:32.800 --> 0:03:35.440 now and markets back here in the US, investors are 0:03:35.480 --> 0:03:37.960 still working through. The FEDS planned to parents balance sheet 0:03:38.000 --> 0:03:40.520 by more than a trillion dollars a year while also 0:03:40.600 --> 0:03:44.200 hiking interest rates. Let's get more live with Bloomberg's John Tucker, 0:03:44.280 --> 0:03:46.560 John Nathan. The plan is spelled out in the just 0:03:46.800 --> 0:03:50.080 released minutes of the fens March meeting. Many officials viewed 0:03:50.120 --> 0:03:54.400 one or more half point interest rate increases as possibly 0:03:54.400 --> 0:03:57.560 appropriate going forward, that is, if the rate of inflation 0:03:57.560 --> 0:04:00.560 doesn't come down. They also proposed shrinking the central banks 0:04:00.560 --> 0:04:04.480 balance sheet in line with market expectations. Michael Sheldon had 0:04:04.560 --> 0:04:06.600 high tower r D and financial groups. As the FED 0:04:06.760 --> 0:04:10.080 has been down this road before. They also, unfortunately have 0:04:10.120 --> 0:04:13.480 a poor track record of raising rates too aggressively and 0:04:13.600 --> 0:04:16.479 causing a downturn in the economy. And that's what I 0:04:16.520 --> 0:04:19.440 think investors are getting kind of a jittery about right now. 0:04:19.600 --> 0:04:22.520 Michael Sheldon, r D m worries the Central Bank could 0:04:22.600 --> 0:04:26.520 slow growth more than it intends. Bloomberg Economics says the 0:04:26.520 --> 0:04:31.000 Fed Metta showed noticeably more alarm about recent the inflation developments. 0:04:31.320 --> 0:04:34.640 Live in New York. I'm John Tucker, Bloomberg, debreak. All right, John, 0:04:34.680 --> 0:04:37.520 thank you all. Stocks in Asia slid overnight, hitting a 0:04:37.600 --> 0:04:40.320 three week low. There's concerning a rapid rise in US 0:04:40.400 --> 0:04:42.920 interest rates could hit growth and hurt earnings. And let's 0:04:42.960 --> 0:04:46.880 get the recap from Bloomberg's Juliette Sally in Singapore. Good morning, Juliette, 0:04:46.960 --> 0:04:48.960 Good morning Karen. The m s c I Asia Pacific 0:04:49.000 --> 0:04:51.400 Index lost as much as one point three for a 0:04:51.480 --> 0:04:54.120 third day of declines, led by tech shares in Japan 0:04:54.240 --> 0:04:57.120 and Taiwan. Stokes in Hong Kong and China fell, while 0:04:57.160 --> 0:04:59.840 the one weekend as officials once again signaled the intent 0:05:00.120 --> 0:05:03.640 loosen policy amid the COVID outbreak and property market was 0:05:03.920 --> 0:05:07.120 a Bloomberg Intelligence gauge tracking McCaw casino Stokes Film more 0:05:07.160 --> 0:05:09.960 than three percent as a number of third party casinos 0:05:10.000 --> 0:05:13.680 could end their gaming operations in Macau in Singapore, Juliette 0:05:13.680 --> 0:05:16.719 Sally Bloomba, Daybreak. Thanks Juliet. Back here in the US, 0:05:16.760 --> 0:05:19.040 a big name in PCs is getting a boost from 0:05:19.040 --> 0:05:22.120 a big name on Wall Street. Shares of HP are 0:05:22.160 --> 0:05:25.120 surging more than eleven percent this morning on word of 0:05:25.160 --> 0:05:27.840 an investment from Warren Buffett. Let's get the latest lie 0:05:27.839 --> 0:05:30.680 from Bloomberg's greunit a Young. Good morning, Granita, Good morning, Nathan. 0:05:30.760 --> 0:05:34.440 Warren Buffett's Berkshire Hathaway bought a steak in HP valued 0:05:34.480 --> 0:05:37.719 at more than four point two billion dollars. The stock 0:05:37.800 --> 0:05:41.240 was purchased in multiple transactions this week, and a regulatory 0:05:41.320 --> 0:05:46.080 filing shows Berkshire now holds about one million shares of HP. 0:05:46.640 --> 0:05:50.640 Berkshire has historically shied away from technology investments, but it's 0:05:50.720 --> 0:05:54.359 leaned further into that sector in recent years. Live in 0:05:54.400 --> 0:05:57.400 New York, I'm Rnita Young Bloomberg Daybreak. All right, Granita, 0:05:57.480 --> 0:05:59.880 thank you. While turning to the pandemic. Now there's cancer 0:06:00.000 --> 0:06:02.920 and about a potential rise in new COVID cases and 0:06:02.960 --> 0:06:07.520 has FDA advisors worried about vaccine plans. Bloomberg's At Baxter 0:06:07.680 --> 0:06:10.440 has the story. The advisors say the FDA should be 0:06:10.480 --> 0:06:14.360 developing a consistent standard for vaccines as new variants emerge. 0:06:14.760 --> 0:06:17.440 They say the odds are roughly twenty of another oh 0:06:17.480 --> 0:06:20.400 Macron like event in the next twelve months, and i 0:06:20.600 --> 0:06:23.560 H director Dr Anthony Fauci on Bloomberg's Balance of Power 0:06:23.600 --> 0:06:26.839 with David Weston says it will depend on a number 0:06:26.880 --> 0:06:30.320 of things. Hopefully there's enough background immunity so that we 0:06:30.360 --> 0:06:32.680 don't wind up with a lot of hospitalizations. The best 0:06:32.680 --> 0:06:35.400 way to avoid that it is to get more people 0:06:35.520 --> 0:06:40.159 vaccinated and boosted. In San Francisco, I'm at Baxter Bloomberg Daybreak. 0:06:40.240 --> 0:06:42.400 And then we're seeing another impact from the pandemic on 0:06:42.440 --> 0:06:45.480 the housing market. A new report from real estate research 0:06:45.560 --> 0:06:48.400 firm Adam Data Solutions shows home prices and some of 0:06:48.440 --> 0:06:52.400 the country's pricest neighborhoods are staying somewhat subdued. Up scale 0:06:52.440 --> 0:06:55.480 suburbs of Washington, D C. And wealthy New York towns 0:06:55.480 --> 0:06:59.839 are among markets with the slowest price appreciation. Finding show 0:07:00.000 --> 0:07:02.960 at the spread of remote work during the pandemic has 0:07:03.000 --> 0:07:05.880 allowed many people to opt for living somewhere more affordable. 0:07:06.400 --> 0:07:09.600 SMP futures right now up seven point, staff futures down eight, 0:07:09.760 --> 0:07:12.880 NASTACK futures up fifty nine points. The tenure treasury is 0:07:12.960 --> 0:07:15.880 up seven thirty seconds, the yield two point five seven percent. 0:07:16.240 --> 0:07:18.920 Local headlines and a check of sports up next. This 0:07:19.240 --> 0:07:27.120 is Bloomberg seven on Wall Street, degrees in Central Park 0:07:27.120 --> 0:07:29.400 and dealing with a truck fire in the New Jersey Turnpike. 0:07:29.440 --> 0:07:31.800 It's northbound neary inter Change. Aide details coming up in 0:07:31.800 --> 0:07:34.160 traffic again. We are at forty seven degrees in Central 0:07:34.200 --> 0:07:36.200 Park and Michael barrs here with what else is going 0:07:36.200 --> 0:07:38.239 on in New York and around the world. Good morning Michael, 0:07:38.320 --> 0:07:41.120 Good morning Nathan. Major crime in New York City rose 0:07:41.160 --> 0:07:44.000 by thirty six point five percent in March from a 0:07:44.080 --> 0:07:47.480 year ago. Despite Mayor Eric Adams efforts to reduce a 0:07:47.520 --> 0:07:50.640 spike of incidents that have persisted since the pandemic began, 0:07:51.160 --> 0:07:54.880 The NYPD says citywide shooting incidents increased by more than 0:07:54.920 --> 0:07:58.960 sixteen percent. NYPD Commissioner Teaching Sewul says, we are faced 0:07:59.000 --> 0:08:02.840 single perception among criminals that there are no consequences, even 0:08:02.880 --> 0:08:06.320 among serious crime. While there is no doubt that we 0:08:06.400 --> 0:08:10.200 face challenges and reversing years will not take weeks. The 0:08:10.360 --> 0:08:15.800 NYPD remains steadfast in its vision, plan and commitment to 0:08:15.920 --> 0:08:20.600 the residents, businesses and visitors to this city. Commissioners Sewell's 0:08:20.680 --> 0:08:24.040 has the number of homicides fell by almost sixteen percent 0:08:24.120 --> 0:08:26.720 from a year ago and robberies rose by more than 0:08:26.800 --> 0:08:30.200 forty eight percent. The Senate will vote on final confirmation 0:08:30.280 --> 0:08:33.680 of President Biden Supreme Court nominee Judge Katanji Brown Jackson 0:08:33.720 --> 0:08:37.160 this afternoon. Senate Majority Leader Chuck Schumer made the announcement 0:08:37.160 --> 0:08:40.680 on the floor last night. First and foremost, we have 0:08:40.840 --> 0:08:44.120 reached an agreement for the Senate to conclude the confirmation 0:08:44.240 --> 0:08:48.760 process of Judge Katangi Brown Jackson. Jackson would become the 0:08:48.760 --> 0:08:51.320 first black woman to sit on the nation's highest court. 0:08:51.640 --> 0:08:54.760 The House voted the whole two former top Trump administration 0:08:54.760 --> 0:08:58.280 officials in contempt of Congress for defying subpoenas from the 0:08:58.320 --> 0:09:01.719 committee investigating the Ryan at the US Capital Committee Chair 0:09:01.720 --> 0:09:04.559 Bennie Thompson. We act the individuals a peine at the 0:09:04.640 --> 0:09:07.200 end to come before the committee, and they chose not 0:09:07.280 --> 0:09:10.199 to come, and therefore they broke the law. And that's 0:09:10.240 --> 0:09:13.280 why we are here today. Representative Bennie Thompson. The New 0:09:13.320 --> 0:09:16.240 York Party line vote sends the contempt resolution for Dan 0:09:16.280 --> 0:09:20.040 Scovino and Peter Navarro for referral to the Justice Department 0:09:20.080 --> 0:09:24.360 for possible prosecution. The Postal Reform Act is now law. 0:09:24.440 --> 0:09:27.880 President Biden signed the bill. Biden says the legislation guarantees 0:09:28.120 --> 0:09:30.480 at the mail will continue to be delivered six days 0:09:30.520 --> 0:09:33.840 a week. The bill increases transparency by requiring the postal 0:09:33.880 --> 0:09:38.840 service to develop online on an online public dashboard, updated 0:09:38.880 --> 0:09:42.920 weekly with local and national service performance data. President Biden 0:09:43.000 --> 0:09:45.360 Global News twenty four hours a day on here and 0:09:45.520 --> 0:09:48.920 on Bloomberg quick Take, powered by more than seven under 0:09:48.960 --> 0:09:52.040 journalists analysts more than a hundred twenty countries. Michael bar 0:09:52.240 --> 0:09:59.760 this is Bloomberg. Nathan all right, Michael, thanks five O 0:10:00.040 --> 0:10:02.480 on Wall Street. Time for the Bloomberg Sports Update. Good morning, 0:10:02.520 --> 0:10:05.080 John Stanshar good more than Nathan Nix and nets at 0:10:05.080 --> 0:10:07.160 the garden. First half was all Nicks. They had a 0:10:07.280 --> 0:10:10.440 nineteen to nothing. Run let at halftime by seventeen, but 0:10:10.559 --> 0:10:13.239 the Nets, who are not exactly known for their defense, 0:10:13.600 --> 0:10:16.040 held the next to the second halfter just thirty one points. 0:10:16.040 --> 0:10:17.959 They had scored thirty eight in the second quarter of 0:10:18.000 --> 0:10:20.400 the Nets scored thirty eight and the four they won 0:10:20.520 --> 0:10:23.160 one ten to ninety eight. Kevin Ran scored thirty two 0:10:23.200 --> 0:10:25.920 points and had a triple double. Obviously, every game is 0:10:25.920 --> 0:10:28.360 important for us, and not just in the standards, but 0:10:28.559 --> 0:10:31.480 for us to taint to build on what we want 0:10:31.520 --> 0:10:33.920 to do out there. Um and I think the first 0:10:33.960 --> 0:10:38.120 half we didn't. We didn't play Nets brand of basketball 0:10:38.120 --> 0:10:40.880 stuff that we preach about, execute cractice every day. We 0:10:40.960 --> 0:10:44.600 don't go at the second half, Yeah, that's who we are. 0:10:44.800 --> 0:10:47.080 Had He mentioned the standings the Nets in the battle 0:10:47.080 --> 0:10:50.520 with Cleveland and Atlanta to finish seventh, that means one 0:10:50.600 --> 0:10:53.079 win at home and they can advance Rangers. It was 0:10:53.120 --> 0:10:55.600 Pittsburgh tonight could be a playoff preview. While the Yankee 0:10:55.679 --> 0:10:57.960 opener with the Red Sox was moved to tomorrow, the 0:10:58.040 --> 0:11:00.600 Mets opener in Washington is on the fight. Some rain 0:11:00.679 --> 0:11:03.080 forecasts in DC, they pushed the start from four o'clock 0:11:03.120 --> 0:11:05.520 back to seven The Mets hope to have Jacob i 0:11:05.600 --> 0:11:07.360 Gram on the mount for the opener. If not him, 0:11:07.400 --> 0:11:11.000 then Max Serzer instead. It's Tyler McGill. The grand may 0:11:11.000 --> 0:11:13.160 not pitch until June to there was shoulder injury. Insures, 0:11:13.160 --> 0:11:15.560 who's got a tight hamstring, is expected to make his 0:11:15.640 --> 0:11:18.720 Max debut Saturday against his old team. While Tiger Woods 0:11:18.760 --> 0:11:21.640 is surprisingly in the master's field. Phil Nicholson is missing 0:11:21.640 --> 0:11:24.800 his first Master since nineteen ninety four, three time champ, 0:11:24.880 --> 0:11:28.240 taking time off. He was criticized for his disparaging remarks 0:11:28.280 --> 0:11:31.240 about the PGA tour. The Masters says Michelson was invited 0:11:31.559 --> 0:11:34.120 and it was his decision not to play. Bloomberg Radio 0:11:34.160 --> 0:11:37.920 Hourly Masters Update starting today and The Masters tonight at eleven. 0:11:38.320 --> 0:11:42.440 John Stashoward, Bloomberg Sports. Okay, John, Thanks and just crossing 0:11:42.480 --> 0:11:45.920 the Bloomberg terminal. European Central Bank President Christine Lagarde has 0:11:45.920 --> 0:11:48.920 just announced that she has tested positive for COVID nineteen. 0:11:49.000 --> 0:11:53.160 She says the diagnosis will not affect ECB operations. Looking 0:11:53.160 --> 0:11:56.079 ahead to the market, open SMP futures are up five points, 0:11:56.120 --> 0:12:00.320 staff futures down twenty three, NASTAX futures higher by fifty 0:12:00.400 --> 0:12:08.000 five points you're listening to Bloomberg Daybreak Bloomberg eleven three 0:12:08.000 --> 0:12:10.320 oh weather. Scattered showers and storms today, low fifties for 0:12:10.400 --> 0:12:13.080 highest chance for a shower tomorrow as well, low sixties, 0:12:13.280 --> 0:12:16.760 maybe an isolated shower on Saturday. Otherwise partly sunny, upper 0:12:16.760 --> 0:12:22.760 fifties currently forty seven and cloudy in Central Park. Markets. 0:12:22.840 --> 0:12:25.920 Headlines and breaking news twenty four hours a day at 0:12:25.920 --> 0:12:29.319 Bloomberg dot Com, The Bloomberg Business at and at Bloomberg 0:12:29.400 --> 0:12:39.440 Quick Tape. He's a Bloomberg Business lash When I'm Karen Moscow. 0:12:39.559 --> 0:12:43.439 European Central Bank President Christine Lagard says she tested positive 0:12:43.520 --> 0:12:46.959 for COVID nineteen, adding that her symptoms are reasonably mild 0:12:47.040 --> 0:12:49.240 and that there won't be any impact on the operations 0:12:49.240 --> 0:12:52.600 of her institution. The ECB is governing council meets next 0:12:52.600 --> 0:12:56.640 week to set monetary policy for the euro Area. Markets, meanwhile, 0:12:56.760 --> 0:13:00.679 are showing signs of stabilizing as traders step into after 0:13:00.720 --> 0:13:03.679 a sell off sparked by the federal reserves. Hawkish tailed 0:13:03.800 --> 0:13:07.480 stocks in Europe are higher. SNP and NASDAG futures are rising. 0:13:07.480 --> 0:13:11.400 We checked the markets every fifteen minutes throughout the trading day, Bloomberg. 0:13:11.480 --> 0:13:14.240 SNP Future is up about nine points down Future is 0:13:14.280 --> 0:13:17.680 little change. NASDACK future is up sixty seven. The decks 0:13:17.679 --> 0:13:20.480 in Germany's have about four tenths of upper sent ten 0:13:20.520 --> 0:13:23.120 year treasury of seven thirty seconds ye two point five 0:13:23.160 --> 0:13:25.360 six percent. They yield on the two year two point 0:13:25.400 --> 0:13:28.680 four three percent. Nim X screwed oil is up one percent, 0:13:28.760 --> 0:13:31.160 or ninety eight cents and ninety seven dollars twenty cents 0:13:31.160 --> 0:13:34.400 of barrel comes. Gold is up a third of a percent, 0:13:34.520 --> 0:13:37.280 or seven dollars ten cents. In nineteen thirty twenty announced 0:13:37.600 --> 0:13:40.480 the euro one point eight seven seven against the dollar 0:13:40.559 --> 0:13:43.280 British pound one point three zero seven two. They ended 0:13:43.320 --> 0:13:46.840 one twenty three point seven to bitcoin moving lower, down 0:13:46.880 --> 0:13:49.480 one point one percent at forty three thousand, three hundred 0:13:49.520 --> 0:13:52.640 ninety dollars. That's a Bloomberg business flash. Now here's Michael 0:13:52.640 --> 0:13:55.280 Barr with more on what's going on around the world. Michael, 0:13:55.280 --> 0:13:58.559 good morning, Good morning Karen. The United Nations General Assembly 0:13:58.679 --> 0:14:01.040 is sent to Voute today on what to suspend Russia 0:14:01.160 --> 0:14:04.400 from the Human Rights Council. President Joe Biden accused the 0:14:04.480 --> 0:14:07.960 Kremlin's forces of committing major war crimes in Ukraine. It 0:14:08.080 --> 0:14:10.200 is opening day in Major League Baseball. The Mats are 0:14:10.240 --> 0:14:12.760 at the Nationals. The Yankees Red Sox opener in New 0:14:12.880 --> 0:14:16.440 York has been postponed because of the weather. In the NBA, 0:14:16.800 --> 0:14:20.400 the Nets beat the next one. The Celtics won, the 0:14:20.400 --> 0:14:24.240 Wizards lost in the NHL. The Capital's won. In golf. 0:14:24.360 --> 0:14:27.840 Round one of the Masters begins today. Tiger Woods is 0:14:27.920 --> 0:14:32.000 back in the field fourteen months after a devastating car crash. 0:14:32.280 --> 0:14:35.400 Stay tuned for updates every hour on Bloomberg Radio and 0:14:35.920 --> 0:14:38.760 a special edition of Masters tonight coming up at eleven 0:14:38.840 --> 0:14:41.760 pm Eastern. Global News twenty four hours a day on 0:14:41.840 --> 0:14:44.480 it Or and on Bloomberg Quick Take, powered by more 0:14:44.520 --> 0:14:46.960 than twenty seven hundred journalists and analysts more than a 0:14:47.000 --> 0:14:51.040 hundred twenty countries. Michael Barren, this is Bloomberg. Nathan. Okay, Michael, 0:14:51.040 --> 0:14:53.280 thanks for coming up to five twenty on Wall Street 0:14:53.320 --> 0:14:57.520 Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, 0:14:57.560 --> 0:14:59.800 and we're joined live from Washington this morning our Bloomberg 0:14:59.880 --> 0:15:04.200 Night nine one Studios by Bloomberg Government Congressional reporter Jack Fitzpatrick. 0:15:04.280 --> 0:15:06.040 As we take a deeper dive into some of the 0:15:06.120 --> 0:15:09.600 sanctions pressure that is being brought to bear on Russia 0:15:09.760 --> 0:15:13.120 now from the US and its European allies. Jack, good morning. 0:15:13.120 --> 0:15:16.240 We got the latest sanctions round from the US yesterday 0:15:16.280 --> 0:15:21.040 targeting the two biggest Russian banks, even Vladimir Putin's daughters. 0:15:21.080 --> 0:15:25.040 But the big factor that is still not being touched 0:15:25.040 --> 0:15:29.200 at this point Russian oil and gas. Right. Well, the 0:15:29.200 --> 0:15:32.640 the US has a much easier time pulling away from 0:15:32.720 --> 0:15:35.720 Russian oil and gas itself, which it's doing, and that 0:15:35.840 --> 0:15:39.280 has been decided. Uh. That was something Congress pushed Biden 0:15:39.320 --> 0:15:42.720 on a little earlier. Though these U S sanctions that 0:15:42.760 --> 0:15:47.760 were announced obviously don't get at uh the broader European issue. Uh, 0:15:47.760 --> 0:15:51.600 there are still conversations about European countries pulling away from 0:15:51.680 --> 0:15:54.880 Russian oil and gas. I believe just yesterday Italy said 0:15:55.120 --> 0:15:57.480 they could do something like that if the rest of 0:15:57.480 --> 0:16:01.920 the European Union was united. Uh. That is somewhere where 0:16:01.960 --> 0:16:05.480 the president may have an informal role communicating with allies. 0:16:06.120 --> 0:16:09.520 But in the meantime we see this further effort of 0:16:09.760 --> 0:16:13.760 US sanctions solely on a couple of major banks, on 0:16:14.000 --> 0:16:18.520 actually Vladimir Putin's daughters, as well as the Russian Foreign 0:16:18.520 --> 0:16:22.360 minister's wife and daughter. So there are some some personal 0:16:22.400 --> 0:16:27.480 connections aimed at at Putin's wealth. But obviously, yes, this 0:16:27.600 --> 0:16:31.360 is much smaller in comparison to the broader conversation around 0:16:31.560 --> 0:16:35.120 European imports of Russian oil and gas, and there's still 0:16:35.160 --> 0:16:38.800 the open question about how much impact this is really having, 0:16:38.840 --> 0:16:41.760 not just on the war, but on the Russian economy. 0:16:41.800 --> 0:16:46.200 We've seen the images of apparent mass civilian killings in 0:16:46.320 --> 0:16:49.560 areas where Russia had once been in northern Ukraine, and 0:16:49.680 --> 0:16:55.000 now we've seen the ruble, which had tanked immediately after 0:16:55.120 --> 0:16:58.600 the invasion, is basically back to where it was. I mean, 0:16:58.640 --> 0:17:01.560 what kind of impact are these sanctions really having at 0:17:01.560 --> 0:17:05.119 this point. Yeah, that's been bad news for the US 0:17:05.200 --> 0:17:09.359 and the Europeans who did impose sanctions, because one, it 0:17:10.400 --> 0:17:12.639 seems to show that it wasn't enough in terms of 0:17:12.920 --> 0:17:16.439 European reliance on energy commodities. And also you saw that 0:17:16.520 --> 0:17:20.080 reflected in recent comments from U S officials, including White 0:17:20.080 --> 0:17:24.600 House Press Secretary Jensaki, who addressed UH India UH saying 0:17:24.680 --> 0:17:27.200 that it would be a very bad thing for India 0:17:27.280 --> 0:17:31.280 to have more of a formal economic relationship with Russia. 0:17:31.560 --> 0:17:35.280 They are still buying energy commodities, They're the biggest buyer 0:17:35.520 --> 0:17:39.639 of Russian weapons. Uh. That's not an area where the 0:17:39.760 --> 0:17:42.160 US is sure they can get India to sign onto 0:17:42.240 --> 0:17:45.560 a major sanctions regime, but they at least want to 0:17:45.600 --> 0:17:49.280 make sure that the country, a major country such as India, 0:17:49.680 --> 0:17:54.080 doesn't sort of establish a more solid and formal relationship 0:17:54.160 --> 0:17:57.879 with Russia because they're trying to limit Russia's fallbacks amid 0:17:57.960 --> 0:18:01.840 these sanctions from the West. Also heard from Treasury Secretary 0:18:01.920 --> 0:18:05.280 Janet Yellen on Capitol Hill yesterday, kind of getting bipartisan 0:18:05.760 --> 0:18:10.000 pressure to do more on the sanctions front. What ideas 0:18:10.400 --> 0:18:13.919 is this the Treasury Department looking at, you know? She 0:18:14.000 --> 0:18:18.640 spoke supportively obviously of sanctions. A lot of the US 0:18:18.640 --> 0:18:23.440 options are perhaps a little bit more symbolic. She mentioned 0:18:23.440 --> 0:18:27.000 that US officials would not take part in certain Group 0:18:27.040 --> 0:18:30.720 of twenty meetings this year if Russia is allowed to participate. 0:18:31.240 --> 0:18:35.679 That would be the Finance ministers meetings. Uh. She also 0:18:35.880 --> 0:18:38.840 spoke a bit more broadly to the US's ability to 0:18:39.480 --> 0:18:44.239 rally an international sanctions UH kind of pressure in the 0:18:44.280 --> 0:18:48.359 context actually of concerns that Russia would invade Taiwan. She 0:18:48.480 --> 0:18:52.280 did cast the sanctions actions so far against Russia is 0:18:52.640 --> 0:18:56.720 very significant. But really that's another area where despite pressure 0:18:56.760 --> 0:19:00.240 from Congress, there's only so much any US efficial wills 0:19:00.280 --> 0:19:03.440 can do on a unilateral basis. Much of the pressure 0:19:03.480 --> 0:19:07.040 is is the US working with other countries, looking to Europe, 0:19:07.160 --> 0:19:09.920 looking to India, and obviously looking to China as well. 0:19:10.240 --> 0:19:13.320 Just thirty seconds left here, Jack, the President's accusing Russia 0:19:13.359 --> 0:19:16.480 of major war crimes. Do we have any more guidance 0:19:16.600 --> 0:19:20.560 on the US effort to gather evidence against Russia? That 0:19:21.560 --> 0:19:24.000 appears to be a bit of a slow process. The 0:19:24.040 --> 0:19:27.360 President himself has said they need to gather the details. UH. 0:19:27.480 --> 0:19:30.840 Lawmakers we've talked to, We just talked to Ken Calvert recently, 0:19:30.880 --> 0:19:33.720 who's a top member for Defense spending, says that it 0:19:33.760 --> 0:19:36.240 does appear there have been war crimes, but there's quite 0:19:36.240 --> 0:19:38.840 the process that you need to go through. UH. The 0:19:38.880 --> 0:19:40.960 next step to look for, obviously, would be the vote 0:19:41.000 --> 0:19:44.040 that's supposed to happen today for the U n General 0:19:44.080 --> 0:19:47.280 Assembly voting right to suspend Russia from the Human Rights 0:19:47.280 --> 0:19:50.760 the Human Rights Council. Absolutely. Bloomberg Government reporter Jack Fitzpatrick, 0:19:50.840 --> 0:19:54.520 thanks for the update from our nation's capital. SMP futures 0:19:54.600 --> 0:19:57.800 up seven points down, futures little change down, DASTAK futures 0:19:57.880 --> 0:20:01.720 up sixty tenure Treasury yield almost two point five seven percent. 0:20:02.040 --> 0:20:09.679 This is Bloomberg Bloomberg eleven three. Weather. Scattered showers and storms, 0:20:09.720 --> 0:20:13.159 low fifties today, another chance for a shower tomorrow, low sixties, 0:20:13.240 --> 0:20:16.000 partly sunny Saturday, but can't roll out an isolated afternoon 0:20:16.040 --> 0:20:19.200 shower upper fifties. Right now forty seven in Central Park. 0:20:22.080 --> 0:20:26.639 Broadcasting live from the Bloomberg Interactive Broker Studio in New York. 0:20:26.720 --> 0:20:30.560 Bloomberg E Living Freedom to Washington, d C. Bloomberg on 0:20:30.800 --> 0:20:34.639 to Boston, Bloomberg one six one to San Francisco, Bloomberg 0:20:34.720 --> 0:20:37.800 nine sixty to the country Sirius XM Chado one nine 0:20:38.200 --> 0:20:41.359 and around the globe the Bloomberg Business app in Bloomberg 0:20:41.440 --> 0:20:50.760 Radio dot Com. This is Bloomberg Daybreak. It's five thirty 0:20:50.800 --> 0:20:53.159 on Wall Street. Good morning. I'm Nathan Hagar and I'm 0:20:53.240 --> 0:20:55.960 Karen Moscow or just about four hours away from the 0:20:55.960 --> 0:20:58.000 open of US trading. Let's get you up to date 0:20:58.000 --> 0:20:59.600 on the news you need to know at this hour. 0:20:59.680 --> 0:21:02.960 Are the United Nations General Assembly votes today on whether 0:21:03.080 --> 0:21:06.240 to spend Russia from the Human Rights Council. A key 0:21:06.320 --> 0:21:09.720 NATO meeting focused on the war is also underway in Brussels. 0:21:09.840 --> 0:21:13.359 Bloomberg's Maria Todayo is there and reports Ukraine's foreign minister 0:21:13.520 --> 0:21:16.560 is asking NATO for more weapons. The Ukraini for amister 0:21:16.680 --> 0:21:19.040 said the time for the reassurance is over. It's very 0:21:19.080 --> 0:21:21.480 clear for Ukraine have had a big reality check on this. 0:21:21.800 --> 0:21:23.320 The nature is not going to fight this war on 0:21:23.359 --> 0:21:25.639 the ground, but he says, at this point what we 0:21:25.720 --> 0:21:29.080 need is big weapons. The focus from the Ukrainian foreign 0:21:29.080 --> 0:21:31.320 ministers to walk away, walk out from this meeting with 0:21:31.600 --> 0:21:34.160 a clear plet from NATO that we are now going 0:21:34.200 --> 0:21:37.960 to see heavy taks, potentially also missiles. He wants to 0:21:37.960 --> 0:21:40.640 come out of this meeting with a clear signal from 0:21:40.680 --> 0:21:43.520 them that he will get it, and Bloomberg's Maria Todeo 0:21:43.600 --> 0:21:47.399 says Ukraine is also calling out Germany, specifically saying the 0:21:47.440 --> 0:21:49.960 country has been too slow to help we many time. 0:21:50.000 --> 0:21:53.400 In financial markets, Karen, the Russian ruble has made a comeback. 0:21:53.560 --> 0:21:55.840 It's back to trading at the level scene before the 0:21:55.880 --> 0:21:58.760 war began. This morning, trading at almost eighty per dollar 0:21:59.040 --> 0:22:01.520 on Nathan, we shifted the economy now and markets here 0:22:01.520 --> 0:22:04.240 in the US, investors are still working through the FETES 0:22:04.320 --> 0:22:07.520 planned to pair its balance sheet while also hiking interest rates. 0:22:07.560 --> 0:22:10.120 We get the details live with the Bloomberg's John Tucker 0:22:10.240 --> 0:22:13.080 John Karen. Minutes from the Defense Marks meeting show a 0:22:13.119 --> 0:22:16.840 hawk ish tilt. Officials were focused on tamping down inflation 0:22:16.880 --> 0:22:19.520 and outlined plans to pair their balance sheet by more 0:22:19.560 --> 0:22:23.000 than one trillion dollars a year. That's all raising concern 0:22:23.040 --> 0:22:25.399 about whether the central Bank and the engineer a soft 0:22:25.480 --> 0:22:28.440 landing for the economy. Many who attended the March meeting 0:22:28.480 --> 0:22:32.280 also viewed one or more half point rate increases as 0:22:32.320 --> 0:22:35.840 possibly appropriate. Going forward live to New York, I'm John Tucker, 0:22:35.880 --> 0:22:39.119 Bloomberg Radio and John. A commodity called from JP Morgan 0:22:39.280 --> 0:22:42.160 is also making news this morning. The firm says commodities 0:22:42.160 --> 0:22:45.399