1 00:00:03,080 --> 00:00:06,279 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:06,360 --> 00:00:10,320 Speaker 1: Daybreak for a Friday, February two. Coming up this hour, 3 00:00:10,680 --> 00:00:14,240 Speaker 1: Ukraine fights back and the West ramps up sanctions on Russia. 4 00:00:14,480 --> 00:00:17,040 Speaker 1: US features are lower following a wild come back on 5 00:00:17,079 --> 00:00:19,960 Speaker 1: Wall Street. The Fed moves ahead with Raith hikes despite 6 00:00:20,000 --> 00:00:22,880 Speaker 1: the situation in Ukraine, and President Boughten decides on his 7 00:00:23,000 --> 00:00:26,520 Speaker 1: nominee for the Supreme Court. Protesters in the Tri State 8 00:00:26,560 --> 00:00:29,880 Speaker 1: area react to Russia's invasion into Ukraine, Plus the Biden 9 00:00:29,920 --> 00:00:33,440 Speaker 1: administration will lose some federal mass wearing guidelines today. I 10 00:00:33,440 --> 00:00:37,320 Speaker 1: am Michael barn More Ahead, I'm Scott Sedinberg. Nets fell 11 00:00:37,400 --> 00:00:41,160 Speaker 1: to the Celtics, the Rangers, Ginglders. I'll have that more 12 00:00:41,240 --> 00:00:46,360 Speaker 1: coming up in sports. That's all straight ahead on Bloomberg 13 00:00:46,400 --> 00:00:51,880 Speaker 1: Daybreak on Bloomberg Eletrio, New York, Bloomberg one, Washington, d C, 14 00:00:52,240 --> 00:00:56,640 Speaker 1: Bloomberg one of six one, Boston, Bloomberg nine sixties, San Francisco, 15 00:00:57,000 --> 00:01:00,200 Speaker 1: Sirius x M one nineteen and around the world Old 16 00:01:00,240 --> 00:01:03,960 Speaker 1: on Bloomberg Radio dot Com and via The Bloomberg Business 17 00:01:07,400 --> 00:01:10,240 Speaker 1: and Good Friday Morning. I'm Nathan Hagar, and I'm Karen, 18 00:01:10,280 --> 00:01:12,920 Speaker 1: Moscow and US futures are ending the week lower. We're 19 00:01:12,920 --> 00:01:14,520 Speaker 1: coming up to five at one on Wall Street, and 20 00:01:14,520 --> 00:01:17,240 Speaker 1: we check the markets every fifteen minutes throughout the trading day. 21 00:01:17,280 --> 00:01:19,679 Speaker 1: On Bloomberg S and P Future is down thirty three 22 00:01:19,720 --> 00:01:22,880 Speaker 1: points down, futures down two hundred forty three and NASDAG 23 00:01:22,880 --> 00:01:26,000 Speaker 1: features down one hundred four. Ten year treasury up five 24 00:01:26,040 --> 00:01:28,600 Speaker 1: thirty seconds. The yield one point nine four percent, and 25 00:01:28,640 --> 00:01:31,400 Speaker 1: they yield on the two year one point five six percent. 26 00:01:31,720 --> 00:01:34,080 Speaker 1: And nime X screwed oil is up four ten percent 27 00:01:34,120 --> 00:01:37,039 Speaker 1: or thirty nine cents at ninety three dollars twenty cents 28 00:01:37,080 --> 00:01:39,440 Speaker 1: a barrel. Nathan Karen, we begin this morning with the 29 00:01:39,480 --> 00:01:42,560 Speaker 1: latest developments out of Eastern Europe. Ukraine is fighting back 30 00:01:42,600 --> 00:01:45,319 Speaker 1: as Russia continues to pound the capital of Kiev with 31 00:01:45,480 --> 00:01:48,880 Speaker 1: rocket strikes. This as the US and NATO allies impost 32 00:01:48,920 --> 00:01:52,200 Speaker 1: stiff sanctions on Russia. Amy Morris has the latest from 33 00:01:52,200 --> 00:01:56,240 Speaker 1: our Bloomberg newsroom in Washington. Secretary of State Antony B. 34 00:01:56,240 --> 00:02:00,080 Speaker 1: Lincoln told ABC News as Russian troops are marching through Ukra, 35 00:02:00,480 --> 00:02:04,000 Speaker 1: Vladimir Putin may have his eyes on an even bigger prize. 36 00:02:04,120 --> 00:02:06,280 Speaker 1: Is it a possiblely that Putin goes beyond Ukraine. Sure, 37 00:02:06,280 --> 00:02:08,960 Speaker 1: it's a possibility, but there's something very powerful standing in 38 00:02:08,960 --> 00:02:10,880 Speaker 1: the way of that. That's something we call Article five 39 00:02:11,200 --> 00:02:13,079 Speaker 1: of DATO that means an attack on one member of 40 00:02:13,160 --> 00:02:15,560 Speaker 1: NATO is an attack on all members of NATO. And 41 00:02:15,600 --> 00:02:19,000 Speaker 1: while Western allies believe Kiev is likely to fall to 42 00:02:19,120 --> 00:02:22,720 Speaker 1: Russian forces soon, the Biden administration says the US is 43 00:02:22,760 --> 00:02:26,360 Speaker 1: preparing to accept Ukrainians who are fleeing that country, while 44 00:02:26,400 --> 00:02:29,800 Speaker 1: America's partners in Europe and Japan have announced new economic 45 00:02:29,840 --> 00:02:33,800 Speaker 1: penalties in Washington, I'm Amy Morris Bloomberg Daybreak. All right, Amy, 46 00:02:33,800 --> 00:02:37,240 Speaker 1: thank you all. Ukraine's president Vladimir Zelenski is speaking now. 47 00:02:37,400 --> 00:02:40,240 Speaker 1: He took to the airwaves this morning to say sanctions 48 00:02:40,280 --> 00:02:45,720 Speaker 1: are not deterring Russia. This morning, we are defending our 49 00:02:45,800 --> 00:02:49,280 Speaker 1: state by ourselves, as we did yesterday. The most powerful 50 00:02:49,320 --> 00:02:52,040 Speaker 1: forces in the world are watching from a distance. Have 51 00:02:52,200 --> 00:02:55,520 Speaker 1: yesterday's sanctions convinced Russia. We are hearing in our sky 52 00:02:55,600 --> 00:02:58,240 Speaker 1: and seeing on our land that this is not enough. 53 00:02:58,760 --> 00:03:02,800 Speaker 1: And Ukraine's presidential says Moscow is attacking both military and 54 00:03:02,840 --> 00:03:05,640 Speaker 1: civilian targets. He says Russia will have to talk to 55 00:03:05,760 --> 00:03:09,040 Speaker 1: him to end the invasion. The Treasury Department says sanctions 56 00:03:09,080 --> 00:03:12,519 Speaker 1: on Russia target almost eighty percent of the country's banking assets, 57 00:03:12,680 --> 00:03:15,800 Speaker 1: but President Biden is holding off on sanctioning Russia's energy 58 00:03:15,840 --> 00:03:19,000 Speaker 1: sector or kicking the country out of the Swift banking system. 59 00:03:19,240 --> 00:03:23,080 Speaker 1: Democratic Congressman John Garamendi says, our European allies aren't willing 60 00:03:23,120 --> 00:03:25,400 Speaker 1: to go that far yet. If we're gonna throw the 61 00:03:25,440 --> 00:03:27,760 Speaker 1: whole kitchen sake, we have to have the entire chief 62 00:03:28,639 --> 00:03:31,200 Speaker 1: ready to go. You're going to go fast, go alone, 63 00:03:31,600 --> 00:03:34,200 Speaker 1: You're going to go far. You gotta go with the team. 64 00:03:34,480 --> 00:03:37,840 Speaker 1: Congressman John Garamendi spoke with our Washington correspondent Joe Matthew 65 00:03:37,840 --> 00:03:40,560 Speaker 1: on Bloomberg Sound on Catch the program weekdays at five 66 00:03:40,640 --> 00:03:44,120 Speaker 1: pm Eastern on Bloomberg Radio. Well Nathan Stocks entered today's 67 00:03:44,160 --> 00:03:47,320 Speaker 1: session after a wild ride yesterday. At one point, the 68 00:03:47,360 --> 00:03:50,680 Speaker 1: NASTAC plunged three and a half percent, only to finish 69 00:03:50,680 --> 00:03:53,240 Speaker 1: the day up three point three percent. The S and 70 00:03:53,320 --> 00:03:55,840 Speaker 1: P five hundred added one and a half percent. Gina 71 00:03:55,880 --> 00:03:58,960 Speaker 1: Martin Adams, his chief equity strategist for a Bloomberg Intelligence 72 00:03:59,160 --> 00:04:01,840 Speaker 1: and a bit can learned that the reason for the 73 00:04:01,920 --> 00:04:06,160 Speaker 1: turnaround was twofold one. We got some Wren sanctions, and 74 00:04:06,200 --> 00:04:08,240 Speaker 1: I think that the whispers around sanctions would be that 75 00:04:08,320 --> 00:04:11,840 Speaker 1: they might be even worse than the sanctions that actually 76 00:04:11,960 --> 00:04:14,600 Speaker 1: were put in place by the President, and the result 77 00:04:14,760 --> 00:04:18,160 Speaker 1: of that was a little bit of reprieve in oil 78 00:04:18,240 --> 00:04:21,280 Speaker 1: prices that may or may not hold. What I'm more 79 00:04:21,360 --> 00:04:23,920 Speaker 1: worried about is I think that the whispers started to 80 00:04:23,960 --> 00:04:26,400 Speaker 1: go around that, oh, maybe the FED won't tighten as 81 00:04:26,480 --> 00:04:31,039 Speaker 1: much as we were anticipating. Bloomberg Intelligence Chief equity strategist 82 00:04:31,040 --> 00:04:34,359 Speaker 1: Dina Martin Adams says, for many market participants, it's still 83 00:04:34,440 --> 00:04:37,000 Speaker 1: all about the FED. But FED officials are sticking to 84 00:04:37,080 --> 00:04:40,040 Speaker 1: plans to raise interest rates next month. Karen. That's despite 85 00:04:40,120 --> 00:04:43,320 Speaker 1: uncertainty tied to the invasion of Ukraine. FED Governor Christopher 86 00:04:43,320 --> 00:04:46,279 Speaker 1: Waller says a fifty basis point hike is still possible 87 00:04:46,320 --> 00:04:49,920 Speaker 1: if jobs in inflation data stay hot. My preference is 88 00:04:50,000 --> 00:04:52,560 Speaker 1: to increase the target range for the Federal fronds rate 89 00:04:53,400 --> 00:04:56,279 Speaker 1: basis points by the middle of this year. That is, 90 00:04:56,520 --> 00:05:01,440 Speaker 1: I spect inflation during elevated and only show mons deceleration 91 00:05:01,600 --> 00:05:04,120 Speaker 1: over the next couple of months. Governor Chris Waller says 92 00:05:04,160 --> 00:05:06,719 Speaker 1: he also favors drinking the third spellance sheet no later 93 00:05:06,800 --> 00:05:10,120 Speaker 1: than the Central Banks meeting in July. Well, yesterday's rally 94 00:05:10,160 --> 00:05:13,080 Speaker 1: and US starks is spilling over into Europe. This morning, 95 00:05:13,160 --> 00:05:15,240 Speaker 1: Nathan and We get the latest live at the Bloomberries. 96 00:05:15,360 --> 00:05:18,480 Speaker 1: Max Ramsey in our London bureau. Good morning, Max, Good 97 00:05:18,520 --> 00:05:21,000 Speaker 1: morning Karen and Nathan. Yes, we are definitely seeing a 98 00:05:21,040 --> 00:05:23,440 Speaker 1: move to the upside in Europe so far this morning, 99 00:05:23,440 --> 00:05:25,800 Speaker 1: though we are still a fair way off clawing back 100 00:05:25,920 --> 00:05:28,760 Speaker 1: these steep losses that we got yesterday with the news 101 00:05:28,800 --> 00:05:32,159 Speaker 1: of Russia's invasion of Ukraine. Today the stock six hundred 102 00:05:32,200 --> 00:05:35,200 Speaker 1: rises one point three percent, but the loss yesterday three 103 00:05:35,240 --> 00:05:38,360 Speaker 1: point three percent. The foot See rises one point six percent, 104 00:05:38,600 --> 00:05:41,440 Speaker 1: but it was a three point nine percent drop yesterday, 105 00:05:41,480 --> 00:05:44,120 Speaker 1: and the decks in Germany today rising no point nine 106 00:05:44,160 --> 00:05:47,120 Speaker 1: percent after closing down four percent, So adding a bit 107 00:05:47,120 --> 00:05:49,800 Speaker 1: of risk appetite this morning after this massive risk off 108 00:05:49,800 --> 00:05:52,400 Speaker 1: move we saw in Europe, perhaps a bit of repricing 109 00:05:52,400 --> 00:05:55,359 Speaker 1: today that energy and Swift were left out of the 110 00:05:55,400 --> 00:05:59,080 Speaker 1: European and US sanctions. We see this rally in Russian 111 00:05:59,080 --> 00:06:03,320 Speaker 1: assets to the inchmark Moax stock Index, rising fourteen point 112 00:06:03,440 --> 00:06:06,559 Speaker 1: three percent after closing down thirty three percent. Live in London, 113 00:06:06,600 --> 00:06:09,800 Speaker 1: Max Ramsey Bloomberg Radio Okay, Max, Thanks Sucks. Also gained 114 00:06:09,839 --> 00:06:12,320 Speaker 1: an Asia overnight. Let's get the recamp there from Bloomberg's 115 00:06:12,360 --> 00:06:15,720 Speaker 1: Juliet Salion Singapore. Good morning, Juliet, Good morning, Nathan and Karen. 116 00:06:15,760 --> 00:06:18,440 Speaker 1: The MSCI Asia Pacific Index advanced the most in over 117 00:06:18,480 --> 00:06:21,320 Speaker 1: a week after falling to November twenty twenty lows during 118 00:06:21,360 --> 00:06:24,720 Speaker 1: Thursday's trade. Sentiment was aided by the tech sector as 119 00:06:24,760 --> 00:06:28,159 Speaker 1: well as China or a central bank boosted liquidity. The 120 00:06:28,200 --> 00:06:31,680 Speaker 1: PBOC injected two ninety billion you are around forty six 121 00:06:31,720 --> 00:06:35,080 Speaker 1: billion dollars via its seven day reverse repot agreement, the 122 00:06:35,160 --> 00:06:38,240 Speaker 1: most since September twenty twenty. Adding to the more risk 123 00:06:38,320 --> 00:06:41,200 Speaker 1: on tone was a move away from havens as Australian 124 00:06:41,240 --> 00:06:43,680 Speaker 1: and New Zealand bond slid. Over the course of the week, 125 00:06:43,720 --> 00:06:46,760 Speaker 1: the MSCI Asia Pacific Index fell by almost four percent, 126 00:06:46,960 --> 00:06:50,839 Speaker 1: its worst weekly performance in a month. In Singapore, Juliette 127 00:06:50,880 --> 00:06:54,400 Speaker 1: Sally Bloomberg Daybreak, Juliet, thank you, And back in Washington 128 00:06:54,480 --> 00:06:57,520 Speaker 1: this morning, Bloomberg Newish has learned that President Biden has 129 00:06:57,560 --> 00:06:59,920 Speaker 1: decided on a nominee for a seat on the super 130 00:07:00,040 --> 00:07:02,760 Speaker 1: in Court. No word on who it is or when 131 00:07:02,760 --> 00:07:05,479 Speaker 1: the selection will be announced. The President has already said 132 00:07:05,520 --> 00:07:07,680 Speaker 1: he would select a black woman that would fulfill a 133 00:07:07,760 --> 00:07:12,360 Speaker 1: promise he made during the campaign, and again futures are lower. 134 00:07:12,440 --> 00:07:16,000 Speaker 1: This morning, straight aheade, relatest local headlines plus a check 135 00:07:16,040 --> 00:07:24,240 Speaker 1: of sports, and this is Bloomberg. Thankscaring. Five oh seven 136 00:07:24,240 --> 00:07:26,320 Speaker 1: on Wall Street, thirty two degrees in Central Park of 137 00:07:26,360 --> 00:07:29,400 Speaker 1: the wintry mess coming down. That means speed restrictions on 138 00:07:29,440 --> 00:07:32,600 Speaker 1: the Garden State Parkland the New Jersey Turnpike. Michael Barr 139 00:07:32,640 --> 00:07:34,160 Speaker 1: is here with more on what's going on in New 140 00:07:34,200 --> 00:07:37,280 Speaker 1: York and around the world. At least it's Friday, Michael. Yeah, Well, 141 00:07:37,280 --> 00:07:40,280 Speaker 1: at least we have that. It's both hands on the 142 00:07:40,280 --> 00:07:44,160 Speaker 1: steering wheel day for the morning commute. Bloomberg Meturelogious Rob 143 00:07:44,240 --> 00:07:46,679 Speaker 1: Caroline asked more in the latest round of winter weather. 144 00:07:46,880 --> 00:07:49,120 Speaker 1: Michael will be dealing with the messy mix early on 145 00:07:49,160 --> 00:07:51,680 Speaker 1: this morning, but that should transition over to some plain 146 00:07:51,800 --> 00:07:54,560 Speaker 1: rain as the morning goes on. National Weather Service has 147 00:07:54,560 --> 00:07:57,160 Speaker 1: the Tristate area under a winter weather advisory through ten 148 00:07:57,240 --> 00:07:59,680 Speaker 1: this morning. Sleet and freezing rain will be changing to 149 00:07:59,720 --> 00:08:03,119 Speaker 1: play in rain and during the afternoon temperatures and actually 150 00:08:03,120 --> 00:08:04,920 Speaker 1: get up to forties, so the slippery problems we have 151 00:08:05,040 --> 00:08:07,320 Speaker 1: they should go away. They'll linger some in the northern 152 00:08:07,360 --> 00:08:09,840 Speaker 1: and western suburbs, but by late today we break into 153 00:08:09,840 --> 00:08:12,000 Speaker 1: some sunshine. So the ride home better than the ride 154 00:08:12,000 --> 00:08:14,720 Speaker 1: in this morning, Michael, Thank you Rob. The Dry State 155 00:08:14,760 --> 00:08:18,640 Speaker 1: area is reacting to Russia's invasion of Ukraine. In Times 156 00:08:18,640 --> 00:08:28,760 Speaker 1: Square yesterday, Ukrainian Americans rallied in the streets. New York 157 00:08:28,760 --> 00:08:31,520 Speaker 1: City is home to more than a hundred fifty thousand Ukrainians. 158 00:08:32,040 --> 00:08:35,720 Speaker 1: Mayor Eric Adams wrote on Twitter, our city stands with them. 159 00:08:35,840 --> 00:08:39,360 Speaker 1: Adams went on to state the unprovoked and unjustified invasion 160 00:08:39,360 --> 00:08:42,720 Speaker 1: of their homeland is an assault on freedom. New York 161 00:08:42,880 --> 00:08:46,360 Speaker 1: Governor Kathy Hokel offered her support for the Ukrainian people. 162 00:08:46,880 --> 00:08:49,439 Speaker 1: We have the New York State one of the largest 163 00:08:49,559 --> 00:08:53,960 Speaker 1: Ukrainian populations outside the country, and we're proud of this. 164 00:08:54,080 --> 00:08:56,880 Speaker 1: We're proud of their diversity and what they bring to 165 00:08:56,920 --> 00:08:59,320 Speaker 1: all of us. But now they have failing members and 166 00:08:59,360 --> 00:09:02,439 Speaker 1: are deeply concerned about what's going on in their home country. 167 00:09:02,679 --> 00:09:05,760 Speaker 1: Governor Hukel says the state is preparing for any cyber 168 00:09:05,800 --> 00:09:10,120 Speaker 1: attacks that intelligence authorities saying as possible. A prayer vigil 169 00:09:10,200 --> 00:09:13,559 Speaker 1: was held in New Jersey for Ukrainian Americans in bound. 170 00:09:13,600 --> 00:09:17,800 Speaker 1: Brook Transit officials will install safety barriers in three New 171 00:09:17,880 --> 00:09:21,000 Speaker 1: York City subway stations in a pilot program aimed at 172 00:09:21,000 --> 00:09:23,559 Speaker 1: preventing tragedies like the death of a woman who was 173 00:09:23,600 --> 00:09:26,360 Speaker 1: pushed in front of a train last month. The MTA 174 00:09:26,520 --> 00:09:29,080 Speaker 1: says that the barriers will be tested at three stations. 175 00:09:29,480 --> 00:09:33,920 Speaker 1: The Biden administration today plans to significantly loosened federal mask 176 00:09:34,040 --> 00:09:38,320 Speaker 1: wearing guidelines to protect against COVID nineteen transmission. According to 177 00:09:38,360 --> 00:09:41,040 Speaker 1: people familiar with the matter, that will mean most Americans 178 00:09:41,160 --> 00:09:44,160 Speaker 1: would no longer be advised to wear masks in indoor 179 00:09:44,200 --> 00:09:47,640 Speaker 1: public settings. Global News twenty four hours a day on 180 00:09:47,760 --> 00:09:51,120 Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty 181 00:09:51,160 --> 00:09:54,560 Speaker 1: seven hundred journalist analysts in more than a hundred twenty countries. 182 00:09:54,800 --> 00:09:57,839 Speaker 1: Michael Barr and this is Bloomberg. Nathan all right, Michael, 183 00:09:57,840 --> 00:10:04,520 Speaker 1: thank you, coming up to five ten on Wall Straight 184 00:10:04,559 --> 00:10:08,520 Speaker 1: time for the Bloomberg Sports Update. Here's Scott Sidinberg thanks Nathan. 185 00:10:08,559 --> 00:10:11,520 Speaker 1: The Nets were routed by the Celtics once nine one 186 00:10:11,520 --> 00:10:14,400 Speaker 1: oh six last night, Jason Tatum scoring thirty for Boston, 187 00:10:14,440 --> 00:10:17,400 Speaker 1: who jumped out to a thirteen point lead after the 188 00:10:17,440 --> 00:10:20,200 Speaker 1: first quarter. The game looking a lot like the last 189 00:10:20,200 --> 00:10:22,559 Speaker 1: time these two teams played, when the Celtics jumped out 190 00:10:22,559 --> 00:10:26,720 Speaker 1: to a to lead back on February eight. The lone 191 00:10:26,760 --> 00:10:29,720 Speaker 1: bright spot for the Nets is the potential for reinforcements 192 00:10:29,760 --> 00:10:33,120 Speaker 1: coming soon, as Steve Nash saying Kevin Durant and newly 193 00:10:33,200 --> 00:10:35,920 Speaker 1: signed Gordon Drag could be ready to play in the 194 00:10:36,000 --> 00:10:39,400 Speaker 1: next three games and is still unknown however, when Ben 195 00:10:39,400 --> 00:10:43,080 Speaker 1: Simmons will make his Nets debut. The Nets will visit 196 00:10:43,120 --> 00:10:46,720 Speaker 1: the Bucks tomorrow night. Tonight, the Knicks host the Heat 197 00:10:47,200 --> 00:10:49,360 Speaker 1: on the ice. The Rangers beat the Capitals for one. 198 00:10:49,440 --> 00:10:52,160 Speaker 1: Alexei law Fernier and mika's Avena Jad each had a 199 00:10:52,160 --> 00:10:55,800 Speaker 1: goal and and assist. The Gorse Sperkin made thirty six saves, 200 00:10:55,800 --> 00:10:59,120 Speaker 1: first win of the season. The Blue Shirts have won 201 00:10:59,120 --> 00:11:02,280 Speaker 1: eight of their last leban They'll visit Pittsburgh tomorrow. The 202 00:11:02,360 --> 00:11:05,000 Speaker 1: Islanders fellow to shoot out for three in San Jose 203 00:11:05,120 --> 00:11:08,320 Speaker 1: there At Lake tomorrow and the Devil's upset the Penguin 204 00:11:08,480 --> 00:11:11,520 Speaker 1: six one, scoring three goals in the first seven minutes 205 00:11:11,559 --> 00:11:14,320 Speaker 1: of the game. It's just their third win in their 206 00:11:14,400 --> 00:11:18,240 Speaker 1: last twelve games. They're in Chicago tonight. GalF Kirk Kiddy 207 00:11:18,320 --> 00:11:21,800 Speaker 1: Arma needs after one round of the Honda Classic. Scott 208 00:11:21,800 --> 00:11:25,679 Speaker 1: s Edinburg with Bloomberg Sports Nathan Okay, Scott, thank you 209 00:11:25,920 --> 00:11:30,720 Speaker 1: after wild swings for markets yesterday. Futures are pointing lower. 210 00:11:30,720 --> 00:11:33,320 Speaker 1: We have SMP futures right now down thirty one point, 211 00:11:33,360 --> 00:11:37,000 Speaker 1: staff futures down two four. NASTACK futures are lower by 212 00:11:37,000 --> 00:11:40,480 Speaker 1: a hundred one points. Rally underway in Europe, with the 213 00:11:40,559 --> 00:11:42,960 Speaker 1: docks in Germany higher by nine tenths for sending. The 214 00:11:43,000 --> 00:11:45,880 Speaker 1: CAK in Paris up one point two percent, the tenuere 215 00:11:45,880 --> 00:11:49,120 Speaker 1: treasury now up three thirty seconds, the yield one point 216 00:11:49,200 --> 00:11:51,559 Speaker 1: nine five percent, yield on the two year one point 217 00:11:51,600 --> 00:11:54,440 Speaker 1: five seven nim X screwed up a half percent, up 218 00:11:54,520 --> 00:11:57,760 Speaker 1: forty nine cents ninety three dollars thirty one cents of 219 00:11:57,920 --> 00:12:01,440 Speaker 1: very very latest developments on Ukraine the impact of sanctions. 220 00:12:01,440 --> 00:12:04,200 Speaker 1: We'll talk about it next with Julie Norman of University 221 00:12:04,200 --> 00:12:09,480 Speaker 1: College London. Bloomberg eleven three oh weather Winter Weather Advisory 222 00:12:09,520 --> 00:12:11,640 Speaker 1: this morning. The freezing rain will change over to rain. 223 00:12:11,720 --> 00:12:14,480 Speaker 1: Some sunny breaks this afternoon, with high sneer forty, mid 224 00:12:14,520 --> 00:12:18,560 Speaker 1: thirties tomorrow low forties by Sunday wintry mets and thirty 225 00:12:18,600 --> 00:12:24,720 Speaker 1: two in Central Park. Markets headlines and breaking news twenty 226 00:12:24,720 --> 00:12:27,960 Speaker 1: four hours a day at Bloomberg dot Com, Bloomberg Business 227 00:12:27,960 --> 00:12:31,640 Speaker 1: apt and at Bloomberg Quick Take. He's a Bloomberg Business 228 00:12:31,720 --> 00:12:41,520 Speaker 1: lash and I'm Karen. Moscow stocks are climbing, crude oil advancing, 229 00:12:41,559 --> 00:12:45,120 Speaker 1: and US DOT Index futures slipping as the Ukraine conflict 230 00:12:45,160 --> 00:12:48,800 Speaker 1: and Western sanctions on Russia Muddy's the outlook for markets 231 00:12:48,800 --> 00:12:51,600 Speaker 1: and the global economic recovery. We checked the markets every 232 00:12:51,600 --> 00:12:54,480 Speaker 1: fifteen minutes throughout the trading day on Bloomberg Guess and 233 00:12:54,520 --> 00:12:57,199 Speaker 1: P futures down twenty eight points down, futures down two 234 00:12:57,600 --> 00:13:01,160 Speaker 1: eight nasdack futures down seventy two. The decks in Germany's 235 00:13:01,240 --> 00:13:03,280 Speaker 1: up one point one per cent. The ten year treasury 236 00:13:03,360 --> 00:13:06,080 Speaker 1: up to thirty seconds he had one point nine five percent, 237 00:13:06,160 --> 00:13:08,800 Speaker 1: the yield on the two year one point five seven percent. 238 00:13:09,200 --> 00:13:11,680 Speaker 1: Nine x Scrude oil is little change now at ninety 239 00:13:11,720 --> 00:13:14,480 Speaker 1: two seventy six cents a barrel. Comex s goold is 240 00:13:14,480 --> 00:13:16,840 Speaker 1: down eight tenths per cent, or fifteen dollars forty cents 241 00:13:16,880 --> 00:13:20,679 Speaker 1: at nineteen nine an ounce. The euro is at one 242 00:13:20,720 --> 00:13:23,480 Speaker 1: point one seven seven against the dollar. British found one 243 00:13:23,520 --> 00:13:26,120 Speaker 1: point three three seven seven, and again is at one 244 00:13:26,200 --> 00:13:30,160 Speaker 1: fifteen point three four bitcoin. This morning it's moving higher 245 00:13:30,200 --> 00:13:32,959 Speaker 1: at thirty eight thousand, five d eighty dollars. And that's 246 00:13:32,960 --> 00:13:35,600 Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more 247 00:13:35,640 --> 00:13:37,839 Speaker 1: on what's going on around the world. Michael, good morning, 248 00:13:38,080 --> 00:13:40,680 Speaker 1: Good morning, Karen. And Russia is pressing its invasion of 249 00:13:40,800 --> 00:13:44,280 Speaker 1: Ukraine's and the outskirts of the capitol keep That comes 250 00:13:44,280 --> 00:13:46,839 Speaker 1: a day after it unleashed air strikes on cities and 251 00:13:46,920 --> 00:13:50,160 Speaker 1: military bases and sent in troops and tanks from three signs. 252 00:13:50,559 --> 00:13:54,480 Speaker 1: Ukraine's president pleaded for international help. The CDC is about 253 00:13:54,480 --> 00:13:58,000 Speaker 1: to release new mask guidance for cities and states today. 254 00:13:58,400 --> 00:14:01,160 Speaker 1: It will mean masks can them down in the majority 255 00:14:01,200 --> 00:14:04,600 Speaker 1: of the city still requiring them. In sports, the Celtics 256 00:14:04,600 --> 00:14:06,880 Speaker 1: beat the Nets one twenty nine one oh six the 257 00:14:06,920 --> 00:14:10,000 Speaker 1: Warriors one. In the NHL, the Rangers beat the capitals 258 00:14:10,000 --> 00:14:13,560 Speaker 1: for one. The Devil's won, the Islanders lost, the Bruins beat, 259 00:14:13,559 --> 00:14:16,480 Speaker 1: the cracking an OT three two Global news twenty four 260 00:14:16,480 --> 00:14:19,560 Speaker 1: hours a day on air and on Bloomberg Quick Take, 261 00:14:19,840 --> 00:14:22,920 Speaker 1: powered by more than twenty seven journalist and analysts more 262 00:14:22,920 --> 00:14:26,640 Speaker 1: than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan, 263 00:14:26,640 --> 00:14:28,840 Speaker 1: all right, Michael, thank you. Five nineteen is the time 264 00:14:28,840 --> 00:14:32,119 Speaker 1: now on Wall Street Life from the Bloomberg Interactive Broker Studios. 265 00:14:32,120 --> 00:14:34,960 Speaker 1: This is Bloomberg Daybreak, and Julie Norman is with us 266 00:14:35,000 --> 00:14:38,560 Speaker 1: this morning lecture on Politics and International Relations at University 267 00:14:38,600 --> 00:14:41,760 Speaker 1: College London. As we continue monitoring developments in the war 268 00:14:41,880 --> 00:14:45,360 Speaker 1: in Eastern Europe, Professor, good morning. We've heard reports of 269 00:14:45,600 --> 00:14:49,680 Speaker 1: rocket attacks in the capital Kiev, and the Ukrainian president 270 00:14:49,760 --> 00:14:53,920 Speaker 1: Zelinski says he's target number one. He could be kidnapped 271 00:14:54,320 --> 00:14:58,760 Speaker 1: by Russian forces. What's the ultimate goal here? Where could 272 00:14:58,800 --> 00:15:02,440 Speaker 1: this end? Well, good morning, Nathan, things are definitely very 273 00:15:02,520 --> 00:15:05,440 Speaker 1: grim and escalating very quickly. Uh. Valencia, I think has 274 00:15:05,480 --> 00:15:08,560 Speaker 1: known for quite a while that Russia is uh, you know, 275 00:15:08,640 --> 00:15:10,840 Speaker 1: one of their aims of the to tapple his government, 276 00:15:11,000 --> 00:15:15,200 Speaker 1: possibly to install a Pupic government. US intelligence had reports 277 00:15:15,240 --> 00:15:18,000 Speaker 1: of that several weeks ago that they made public. UM, 278 00:15:18,120 --> 00:15:21,720 Speaker 1: so this is likely to be one of their aims. Again, 279 00:15:21,720 --> 00:15:25,360 Speaker 1: it's unclear how far Prutiness planning to push this, but 280 00:15:25,480 --> 00:15:29,760 Speaker 1: we obviously do here reports today of of a attack 281 00:15:29,880 --> 00:15:34,360 Speaker 1: on Kiev specifically UM. Again, if Kiev falls, if the 282 00:15:34,440 --> 00:15:38,240 Speaker 1: government falls, uh, this could just open up the door 283 00:15:38,360 --> 00:15:42,880 Speaker 1: for a much longer insurgency. So UH, the war that 284 00:15:42,880 --> 00:15:46,280 Speaker 1: we're seeing now might have a very kind of long, um, 285 00:15:46,480 --> 00:15:49,040 Speaker 1: kind of long drawn out aftermath to it, even if 286 00:15:49,560 --> 00:15:51,520 Speaker 1: even if the fall of the government comes. But right 287 00:15:51,520 --> 00:15:55,120 Speaker 1: now we are seeing resolve from Ukrainians. We are seeing 288 00:15:55,360 --> 00:15:59,160 Speaker 1: UH people defense forces trying to uh, trying to defend 289 00:15:59,200 --> 00:16:01,120 Speaker 1: against this attack. But at the end of the day, 290 00:16:01,200 --> 00:16:05,200 Speaker 1: the Russian military is substantially much more powerful than Ukraine. 291 00:16:06,040 --> 00:16:10,160 Speaker 1: We'd some pretty ominous asides from President Biden in his 292 00:16:10,240 --> 00:16:14,200 Speaker 1: sanctions announcement yesterday. He's saying that Putin's ultimate goal is 293 00:16:14,240 --> 00:16:17,720 Speaker 1: to re establish the Soviet Empire. As the president gets 294 00:16:17,720 --> 00:16:21,160 Speaker 1: ready to meet with NATO allies this morning, what's the 295 00:16:21,200 --> 00:16:27,360 Speaker 1: implication for what Putin's designs could be in Eastern Europe. Well, 296 00:16:27,440 --> 00:16:30,440 Speaker 1: Nathan That's what NATO is hoping to do today, is 297 00:16:30,560 --> 00:16:34,560 Speaker 1: as devastating as the war in Ukraine is developing to be, 298 00:16:34,960 --> 00:16:37,440 Speaker 1: is to try and ensure that this does not uh 299 00:16:37,800 --> 00:16:41,640 Speaker 1: go even further into NATO states with the Russia trying 300 00:16:41,680 --> 00:16:45,120 Speaker 1: to further expand its influence. So what we will probably 301 00:16:45,160 --> 00:16:49,360 Speaker 1: hear from NATO today is a further deployment of NATO 302 00:16:49,400 --> 00:16:53,000 Speaker 1: troops to the Baltic States, to Poland, passibly to Romania, 303 00:16:53,120 --> 00:16:56,720 Speaker 1: so the Eastern and Central European states, and also possibly 304 00:16:56,760 --> 00:16:59,200 Speaker 1: discussions of ways to try and get more arms into 305 00:16:59,280 --> 00:17:03,000 Speaker 1: Ukraine again for a potential support there as as things 306 00:17:03,040 --> 00:17:05,439 Speaker 1: move forward. But the main hope for NATO is to 307 00:17:05,520 --> 00:17:08,240 Speaker 1: try and contain this as much as possible and to 308 00:17:08,400 --> 00:17:11,119 Speaker 1: not have an escalate into NATO states, in which case 309 00:17:11,200 --> 00:17:14,399 Speaker 1: they would be compelled to respond and respond with force. 310 00:17:14,840 --> 00:17:16,919 Speaker 1: What do you see is the potential impact of the 311 00:17:17,000 --> 00:17:21,240 Speaker 1: sanctions as announced so far targeting the Russian banking sector 312 00:17:21,480 --> 00:17:24,920 Speaker 1: and oligarchs. Will that have a meaningful impact on the 313 00:17:25,000 --> 00:17:28,280 Speaker 1: Russian economy? Well, Nathan, it will, but it will take 314 00:17:28,320 --> 00:17:30,080 Speaker 1: a little bit of time. And I think Biden tried 315 00:17:30,160 --> 00:17:32,160 Speaker 1: to be clear right about that yesterday, that it may 316 00:17:32,160 --> 00:17:34,360 Speaker 1: be several weeks or even a month before we see 317 00:17:34,400 --> 00:17:37,040 Speaker 1: that effect take place. It's also important to note that 318 00:17:37,119 --> 00:17:40,160 Speaker 1: Russia has seen these sanctions coming and in some ways 319 00:17:40,200 --> 00:17:43,239 Speaker 1: has trying to build in their own contingency measures by 320 00:17:43,240 --> 00:17:46,440 Speaker 1: building up their own central bank reserves, by exploring crypto 321 00:17:46,440 --> 00:17:49,160 Speaker 1: opportunities to get around some of the sanctions and whatnot. 322 00:17:49,560 --> 00:17:52,280 Speaker 1: Um right now, you know, we've kind of shifted from 323 00:17:52,280 --> 00:17:55,159 Speaker 1: the distinctions being just a deterrent to being more of 324 00:17:55,200 --> 00:17:58,080 Speaker 1: a punitive measure, just showing that the West is trying 325 00:17:58,119 --> 00:18:00,520 Speaker 1: to do something. But again, it'll take a little bit 326 00:18:00,520 --> 00:18:02,919 Speaker 1: of time. There's still other sanctions that are on the 327 00:18:02,960 --> 00:18:05,600 Speaker 1: table that can be deployed, but again, all sanctions that 328 00:18:05,640 --> 00:18:08,360 Speaker 1: are being discussed right now are ones that will also 329 00:18:08,440 --> 00:18:11,040 Speaker 1: have an effect on not only European but American and 330 00:18:11,080 --> 00:18:13,840 Speaker 1: global economies. And so it's something that I think policy 331 00:18:13,880 --> 00:18:16,320 Speaker 1: makers are trying to wave very carefully as to if 332 00:18:16,359 --> 00:18:19,080 Speaker 1: and when they deploy them. Yeah, certainly the sanctions that 333 00:18:19,119 --> 00:18:22,480 Speaker 1: have been talked about that are on the table is 334 00:18:22,960 --> 00:18:25,439 Speaker 1: getting rush out of the swift banking system. And the 335 00:18:25,480 --> 00:18:30,240 Speaker 1: President was even asked pointedly yesterday why the US isn't 336 00:18:30,280 --> 00:18:34,880 Speaker 1: sanctioning putin directly. What's holding the US back at this 337 00:18:34,920 --> 00:18:39,639 Speaker 1: point in either of those potential moves. Yeah, Well, with Swift, 338 00:18:39,760 --> 00:18:42,520 Speaker 1: we heard Biden say is he thinks that simply by 339 00:18:42,560 --> 00:18:44,879 Speaker 1: by cutting off Russian banks, by sanctioning the banks and 340 00:18:44,880 --> 00:18:46,760 Speaker 1: cutting them off from the dollar, the pound, the euro, 341 00:18:46,840 --> 00:18:50,720 Speaker 1: the yen, et cetera, that that will be equally impactful. Um. 342 00:18:50,720 --> 00:18:54,440 Speaker 1: What we also have heard from from some NATO allies 343 00:18:54,560 --> 00:18:57,640 Speaker 1: is they see that cutting Russia off from SWIFT could 344 00:18:57,680 --> 00:19:00,480 Speaker 1: simply push them closer to China. They out that both 345 00:19:00,520 --> 00:19:03,040 Speaker 1: Russia and China have set up secondary uh you know, 346 00:19:03,080 --> 00:19:06,679 Speaker 1: financial messaging systems essentially do the same thing. So there's 347 00:19:06,720 --> 00:19:10,440 Speaker 1: some just weariness I think about taking that step right away. 348 00:19:12,040 --> 00:19:15,520 Speaker 1: We'll continue, of course, monitoring developments throughout the day and 349 00:19:15,600 --> 00:19:18,200 Speaker 1: into the weeks to come. Julie Norman as always great 350 00:19:18,240 --> 00:19:20,400 Speaker 1: getting your insights. Thanks so much for being with us 351 00:19:20,440 --> 00:19:24,040 Speaker 1: this morning. Julie Norman is lecture on Politics and International 352 00:19:24,080 --> 00:19:29,680 Speaker 1: Relations at University College London. Looking at markets mixed action globally, 353 00:19:29,680 --> 00:19:32,679 Speaker 1: with SMP futures now down twenty two points down, futures 354 00:19:32,680 --> 00:19:35,479 Speaker 1: down a hundred sixty nine and Nasdaq futures down fifty 355 00:19:35,520 --> 00:19:38,159 Speaker 1: nine points gains in Europe, though, with the Decks in 356 00:19:38,200 --> 00:19:40,280 Speaker 1: Germany hired by one and a quarter percent, the CACK 357 00:19:40,359 --> 00:19:42,400 Speaker 1: and Paris up one and a half percent, the foot 358 00:19:42,440 --> 00:19:45,240 Speaker 1: See in London hired by two point one percent, and 359 00:19:45,320 --> 00:19:48,600 Speaker 1: the Tenure Treasury up to thirty seconds now the yield 360 00:19:48,640 --> 00:19:51,520 Speaker 1: one point nine five percent. Taking a look at the 361 00:19:51,520 --> 00:19:54,119 Speaker 1: oil market, Brent is hired by a tenth percent at 362 00:19:54,160 --> 00:19:58,160 Speaker 1: ninety nine dollars nineteen cents a barrel, just ahead President 363 00:19:58,240 --> 00:20:01,399 Speaker 1: Biden's sanctions and what does war Ukraine mean for the Fed? 364 00:20:01,840 --> 00:20:08,040 Speaker 1: It's all coming up on Bloomberg Day Brain Bloomberg eleven 365 00:20:08,080 --> 00:20:10,520 Speaker 1: three oh weather went your weather advisory till ten this morning. 366 00:20:10,520 --> 00:20:13,199 Speaker 1: We'll have sunny breaks this afternoon with highs near forty, 367 00:20:13,520 --> 00:20:18,000 Speaker 1: mid thirties tomorrow, low forties on Sunday. Right now freezing 368 00:20:18,080 --> 00:20:24,960 Speaker 1: rain thirty two degrees. Broadcasting live from the Bloomberg Interactive 369 00:20:25,000 --> 00:20:28,880 Speaker 1: Broker Studio in New York. Bloomberg E Living Freedom to Washington, 370 00:20:28,960 --> 00:20:32,800 Speaker 1: d C, Bloomberg one to Boston, Bloomberg one O six 371 00:20:32,880 --> 00:20:36,080 Speaker 1: one to San Francisco, Bloomberg nine sixty to the Country, 372 00:20:36,160 --> 00:20:39,359 Speaker 1: Sirius XM H one nine and around the globe. The 373 00:20:39,400 --> 00:20:43,280 Speaker 1: Bloomberg Business app in Bloomberg Radio dot Com. This is 374 00:20:43,280 --> 00:20:52,040 Speaker 1: Bloomberg Daybreak and it's five thirty on Wall Street. Good morning. 375 00:20:52,080 --> 00:20:54,760 Speaker 1: I'm Nathan Hagar and I'm Kart Moscow, and we're just 376 00:20:54,840 --> 00:20:57,440 Speaker 1: about four hours away from the open of US trading. 377 00:20:57,520 --> 00:20:58,840 Speaker 1: Let's get you up to date on the news you 378 00:20:58,880 --> 00:21:00,520 Speaker 1: need to know at this hour. We begin with the 379 00:21:00,600 --> 00:21:04,120 Speaker 1: latest developments out of Eastern Europe. Ukraine is fighting back 380 00:21:04,160 --> 00:21:06,960 Speaker 1: as Russia pounds the country with rocket stripes in the 381 00:21:07,000 --> 00:21:10,640 Speaker 1: capital of Kiev. The US, its allies, and its allies 382 00:21:10,680 --> 00:21:13,520 Speaker 1: believe the capital city may soon fall to Russian forces. 383 00:21:13,880 --> 00:21:18,240 Speaker 1: Ukraine President vladimir's Lenski says his nation continues to resist 384 00:21:18,280 --> 00:21:22,760 Speaker 1: the Russian invasion. Russia will anyway have to talk to 385 00:21:22,840 --> 00:21:25,480 Speaker 1: US sooner or later to talk about how to stop 386 00:21:25,520 --> 00:21:30,000 Speaker 1: combat action and to end this invasion. Ukraine's President Zelenski 387 00:21:30,080 --> 00:21:34,320 Speaker 1: says Moscow is attacking both military and civilian targets. I meantime, 388 00:21:34,359 --> 00:21:38,120 Speaker 1: in Washington, Karen, President Biden's making clear US troops will 389 00:21:38,200 --> 00:21:41,159 Speaker 1: not fight on the ground in Ukraine. Bloomberg said, Baxter 390 00:21:41,359 --> 00:21:44,200 Speaker 1: has the story President Biden has drawn the line of 391 00:21:44,240 --> 00:21:47,600 Speaker 1: the borders of NATO nations. It's a large conflict already. 392 00:21:47,640 --> 00:21:49,480 Speaker 1: The way we're gonna it's not going to aspire to 393 00:21:49,560 --> 00:21:53,240 Speaker 1: a larger conflict, is by providing all the forces needed 394 00:21:53,240 --> 00:21:56,280 Speaker 1: in the Eastern European nations that are members of NATO. 395 00:21:56,880 --> 00:21:59,600 Speaker 1: NATO is more united than it's ever been, and I 396 00:21:59,680 --> 00:22:03,359 Speaker 1: have plans to talk whom he calls a pariah on 397 00:22:03,440 --> 00:22:06,440 Speaker 1: the world stage. The President says he's moving more US 398 00:22:06,520 --> 00:22:11,320 Speaker 1: troops closer to NATO borders, seven thousand for example, in Germany, 399 00:22:11,800 --> 00:22:14,840 Speaker 1: in San Francisco. I'm at Baxter Bloomberg daybreak, all right, 400 00:22:15,040 --> 00:22:18,560 Speaker 1: thank you. Volatility and financial markets has been sky high 401 00:22:18,640 --> 00:22:21,200 Speaker 1: since the start of the invasion. US futures are lower 402 00:22:21,240 --> 00:22:24,720 Speaker 1: following yesterday's wild comeback. At one point, the NAZDAC plunged 403 00:22:24,800 --> 00:22:27,040 Speaker 1: three and a half percent, only to finish the day 404 00:22:27,160 --> 00:22:30,880 Speaker 1: up three point. Despite the uncertainty cause by the situation 405 00:22:30,920 --> 00:22:33,840 Speaker 1: in Ukraine Cairn, the Federal Reserve is sticking to its guns. 406 00:22:34,200 --> 00:22:36,760 Speaker 1: FEDE officials say they still plan to raise interest rates 407 00:22:36,840 --> 00:22:39,080 Speaker 1: next month. They stressed the need to fight the hottest 408 00:22:39,160 --> 00:22:42,440 Speaker 1: US inflation in forty years. And at the White House today, 409 00:22:42,520 --> 00:22:46,000 Speaker 1: a Bloomberg News has learned that President Biden has decided 410 00:22:46,040 --> 00:22:48,879 Speaker 1: on a nomineque for the Supreme Court. No word on 411 00:22:49,080 --> 00:22:51,800 Speaker 1: who it is or when the selection will be announced. 412 00:22:51,960 --> 00:22:54,800 Speaker 1: The President has already said he would select a black woman. 413 00:22:55,400 --> 00:22:58,880 Speaker 1: Futures this morning again moving lower. SNP Future is down 414 00:22:58,920 --> 00:23:01,639 Speaker 1: about twenty four points and see down Futures down one 415 00:23:01,960 --> 00:23:04,560 Speaker 1: d eighty four. NASDAG Future is down at sixty two. 416 00:23:04,720 --> 00:23:07,600 Speaker 1: The decks in Germany is up one point two percent. 417 00:23:07,960 --> 00:23:11,399 Speaker 1: The tenure Treasury is little change, yield one point six percent. 418 00:23:11,760 --> 00:23:14,720 Speaker 1: Yield on the two year one point five seven percent. 419 00:23:15,160 --> 00:23:17,400 Speaker 1: Nine Max screwde Oil done about two tenths per cent 420 00:23:17,480 --> 00:23:20,160 Speaker 1: or fourteen cents at ninety two dollars sixty seven cents 421 00:23:20,200 --> 00:23:22,800 Speaker 1: of barrel and comic School this down seven tenths per 422 00:23:22,840 --> 00:23:26,639 Speaker 1: cent or fourteen dollars thirty cents at nineteen twelve unnounced 423 00:23:27,320 --> 00:23:31,080 Speaker 1: and straight ahead your latest local headlines plus a check 424 00:23:31,160 --> 00:23:39,080 Speaker 1: of sports. And this is Bloomberg, Thank you Caring. It's 425 00:23:39,119 --> 00:23:41,439 Speaker 1: five thirty three on Wall Street, where thirty two degrees 426 00:23:41,560 --> 00:23:44,479 Speaker 1: in Central Park with a mix of rain and freezing rain. 427 00:23:44,520 --> 00:23:47,080 Speaker 1: We're in the winter weather advisory for the next few hours, 428 00:23:47,200 --> 00:23:50,320 Speaker 1: and already there's a crash on the eastbound. B Queed's 429 00:23:50,400 --> 00:23:53,800 Speaker 1: got the Brooklyn Bridge jammed. Michael Bars here with more 430 00:23:53,800 --> 00:23:55,800 Speaker 1: on what's going on in New York and around the world. 431 00:23:55,840 --> 00:23:58,800 Speaker 1: Good morning, Michael, Good morning Nathan. Winter weather. As you said, 432 00:23:58,840 --> 00:24:02,879 Speaker 1: it's going to make the morning commun handful. Bloomberg meteorologist 433 00:24:02,960 --> 00:24:05,639 Speaker 1: Rob Caroline as the latest. Michael will be dealing with 434 00:24:05,720 --> 00:24:08,080 Speaker 1: the messy mix early on this morning, but that should 435 00:24:08,119 --> 00:24:10,720 Speaker 1: transition over to some plaine rain as the morning goes on. 436 00:24:11,280 --> 00:24:13,480 Speaker 1: National Weather Service has the Tri State area under a 437 00:24:13,520 --> 00:24:16,520 Speaker 1: winter weather advisory through ten this morning. Sleet and freezing 438 00:24:16,600 --> 00:24:18,840 Speaker 1: rain will be changing to plan rain. It will and 439 00:24:19,040 --> 00:24:21,680 Speaker 1: during the afternoon temperatures eventually get up to forties, so 440 00:24:21,720 --> 00:24:24,120 Speaker 1: the slippery problems we have they should go away. They'll 441 00:24:24,200 --> 00:24:26,600 Speaker 1: linger some in the northern and western suburbs, but by 442 00:24:26,640 --> 00:24:28,760 Speaker 1: late today we break into some sunshine, so the ride 443 00:24:28,800 --> 00:24:31,360 Speaker 1: home better than the ride in this morning, Michael, Rob, 444 00:24:31,440 --> 00:24:34,040 Speaker 1: thank you, sir. The Tri State area is reacting to 445 00:24:34,240 --> 00:24:38,120 Speaker 1: Russia's invasion of Ukraine. Hundreds of protesters gathered in Times 446 00:24:38,119 --> 00:24:46,639 Speaker 1: Square yesterday. New York City is home to more than 447 00:24:46,680 --> 00:24:50,800 Speaker 1: a hundred fifty thousand Ukrainian Americans. Mayor Eric Adams Rode 448 00:24:50,840 --> 00:24:54,440 Speaker 1: on Twitter, the unprovoked and unjustified invasion of their homeland 449 00:24:55,000 --> 00:24:58,240 Speaker 1: is an assault on freedom. New York Governor Kathy Hoko 450 00:24:58,359 --> 00:25:03,080 Speaker 1: Offerer support for the Ukrainian people very frightening images. Our 451 00:25:03,160 --> 00:25:06,480 Speaker 1: hearts go out to all the residents of that country 452 00:25:06,560 --> 00:25:09,520 Speaker 1: that is now under siege. In New Jersey, a prayer 453 00:25:09,600 --> 00:25:13,119 Speaker 1: vigil was held for Ukrainian Americans in bound Brook. The 454 00:25:13,240 --> 00:25:17,159 Speaker 1: CDC is expected to announce new COVID mask guidelines as 455 00:25:17,200 --> 00:25:20,320 Speaker 1: soon as today. That will mean most Americans will no 456 00:25:20,440 --> 00:25:23,760 Speaker 1: longer be advised to wear masks in indoor public settings. 457 00:25:24,200 --> 00:25:27,199 Speaker 1: The new CDC mass guidelines are expected to be related 458 00:25:27,280 --> 00:25:30,960 Speaker 1: to the COVID case rates in each local community. Guilty 459 00:25:31,080 --> 00:25:33,879 Speaker 1: verdicts on federal charges for all three of the remaining 460 00:25:33,960 --> 00:25:37,720 Speaker 1: officers charged in relation to George Floyd's death. Acting U 461 00:25:37,880 --> 00:25:40,720 Speaker 1: S Attorney for the District in Minnesota, Charles Covats, it 462 00:25:40,840 --> 00:25:43,920 Speaker 1: was a scene that will forever be steered into our memories. 463 00:25:44,560 --> 00:25:49,960 Speaker 1: George Floyd handcuffed and pin to the ground by three officers. 464 00:25:50,200 --> 00:25:53,360 Speaker 1: Covat says these officers chose to do nothing to assist 465 00:25:53,480 --> 00:25:56,760 Speaker 1: George Floyd as he lay dying. Global News twenty four 466 00:25:56,800 --> 00:25:59,719 Speaker 1: hours a day on air and on Bloomberg Quittake, powered 467 00:25:59,720 --> 00:26:02,720 Speaker 1: by or than twenty seven hundred journalists and analysts more 468 00:26:02,760 --> 00:26:07,200 Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg. Nathan. Okay, Michael, 469 00:26:07,240 --> 00:26:14,720 Speaker 1: thanks thirty five on Wall Street. Time for the Bloomberg 470 00:26:14,760 --> 00:26:18,280 Speaker 1: Sports Update. Here Scott Sidenberg, Good morning, Nathan. The Nets 471 00:26:18,320 --> 00:26:21,679 Speaker 1: getting some good news yesterday, Steve Nash saying Kevin Durant 472 00:26:21,760 --> 00:26:24,600 Speaker 1: and newly signed Gordon Drogics could be ready to play 473 00:26:24,680 --> 00:26:28,160 Speaker 1: for them in the next three games, but without their 474 00:26:28,280 --> 00:26:32,000 Speaker 1: stars blast night, the Nets continued to struggle, eaten by 475 00:26:32,040 --> 00:26:35,520 Speaker 1: the Celtics one twenty nine, one oh six. Jason Tam 476 00:26:35,680 --> 00:26:38,560 Speaker 1: scored thirty for Boston. We jumped out to a thirteen 477 00:26:38,680 --> 00:26:41,520 Speaker 1: point lead after the first quarter. Here were Steve Nash. 478 00:26:41,840 --> 00:26:44,600 Speaker 1: We recognize we're shorthanded. You we know we're sending these 479 00:26:44,640 --> 00:26:46,199 Speaker 1: guys out there and asked them to do more than 480 00:26:46,240 --> 00:26:49,560 Speaker 1: their customers doing and and that stuff. But at the 481 00:26:49,600 --> 00:26:51,960 Speaker 1: same time they've responded every time of Gaston to keep 482 00:26:51,960 --> 00:26:56,080 Speaker 1: their spirits high and worked. And that was hearing on 483 00:26:56,160 --> 00:27:00,480 Speaker 1: this play and bradcast yesterday. Today. We need today, we 484 00:27:00,520 --> 00:27:02,800 Speaker 1: need a little bit more. That's we'll visit the Fox 485 00:27:02,920 --> 00:27:06,840 Speaker 1: tomorrow night Tonight, Nick's past the heats hockey, the Rangers 486 00:27:06,920 --> 00:27:10,440 Speaker 1: being capitals for one. Gorcious Birkin made thirty six seas 487 00:27:10,520 --> 00:27:13,719 Speaker 1: for his off the season. The Blue Shirts have one 488 00:27:13,800 --> 00:27:16,920 Speaker 1: eight of their last eleven. They'll visit Pittsburgh tomorrow, The 489 00:27:17,000 --> 00:27:19,960 Speaker 1: Islanders stilling to shootout for three in San Jose there 490 00:27:19,960 --> 00:27:22,720 Speaker 1: at at Lake tomorrow, and the Devil's upset the Penguin 491 00:27:22,920 --> 00:27:26,040 Speaker 1: six to one for just their third win in their 492 00:27:26,119 --> 00:27:29,479 Speaker 1: last twelve games. I was Scott Sidenburg with Bloomberg Sports. 493 00:27:29,720 --> 00:27:32,680 Speaker 1: Nathan Scott, thanks for coming up to five thirty seven 494 00:27:32,720 --> 00:27:34,879 Speaker 1: on Wall Street time for the Tri State Business Report 495 00:27:34,920 --> 00:27:39,080 Speaker 1: with Bloomberg's head Cory. Since it's groundbreaking yearly two decades ago, 496 00:27:39,600 --> 00:27:42,280 Speaker 1: the mega mall built in New Jersey's meadow Lands has 497 00:27:42,320 --> 00:27:45,680 Speaker 1: done little except hemorrhage cash. Now, less than two years 498 00:27:45,760 --> 00:27:48,920 Speaker 1: after it's much delayed opening, the malls developer can't keep 499 00:27:49,000 --> 00:27:51,920 Speaker 1: up with the bills on the shopping and entertainment megaplex. 500 00:27:52,280 --> 00:27:55,800 Speaker 1: The guys behind the Smile and Rays are opening Pebble 501 00:27:55,880 --> 00:27:59,680 Speaker 1: Bar in Midtown. The time sends celebrities like Pete Davidson 502 00:27:59,720 --> 00:28:03,520 Speaker 1: and Callis Bronner Investors. The building in West forty nine 503 00:28:03,600 --> 00:28:05,600 Speaker 1: and the Avenue of the Americans has stood there for 504 00:28:05,720 --> 00:28:08,880 Speaker 1: more than a century, much of it as a fabled 505 00:28:09,000 --> 00:28:13,240 Speaker 1: Irish saloon named Hurley's. Paul McCartney and his wife sold 506 00:28:13,280 --> 00:28:16,120 Speaker 1: their penthouse on New York's Fifth Avenue for about eight 507 00:28:16,160 --> 00:28:18,840 Speaker 1: and a half million dollars this month. It's about forty 508 00:28:18,920 --> 00:28:21,000 Speaker 1: five percent less than what they paid for it in 509 00:28:21,080 --> 00:28:24,520 Speaker 1: twenty fifteen. According to Dow Jones. They listed the unit 510 00:28:24,600 --> 00:28:27,640 Speaker 1: for twelve million bucks last June, but reduced the price 511 00:28:27,760 --> 00:28:30,720 Speaker 1: to ten point five million in September. At your Bloomberg 512 00:28:30,800 --> 00:28:33,920 Speaker 1: Try State Business Report, I'm Ed Corey. Thank you, Ed. 513 00:28:34,000 --> 00:28:36,440 Speaker 1: It's five thirty eight on Wall Street. Bloomberg Radio is 514 00:28:36,440 --> 00:28:38,560 Speaker 1: on the air from San Francisco to New York, London 515 00:28:38,640 --> 00:28:40,720 Speaker 1: to Hong Kong. Let's check in with our global news 516 00:28:40,800 --> 00:28:42,440 Speaker 1: team for some of the top stories heard on our 517 00:28:42,480 --> 00:28:48,240 Speaker 1: three hundred affiliate radio stations around the world. I'm Steve 518 00:28:48,400 --> 00:28:51,200 Speaker 1: Potaskan on ten ten Wins in New York. We're talking 519 00:28:51,240 --> 00:28:56,240 Speaker 1: about a government probe into Morgan Stanley's block trading business Genus. 520 00:28:56,280 --> 00:28:59,400 Speaker 1: You're ready and for w BBM in Chicago. I'm reporting 521 00:28:59,440 --> 00:29:03,160 Speaker 1: that Edgar Ultra Secretary Tom Bill Sack is warning fertilizer 522 00:29:03,280 --> 00:29:07,320 Speaker 1: companies against price gauging amid the Ukraine conflict. I'm TODs 523 00:29:07,360 --> 00:29:11,320 Speaker 1: polegremy im WHS Bluisville, Church Hill downs to get out 524 00:29:11,400 --> 00:29:15,000 Speaker 1: of online casinos and sports stutting. I'm Caroline Head filled 525 00:29:15,000 --> 00:29:17,640 Speaker 1: boobeg D a B digital radio in London with reporting 526 00:29:17,720 --> 00:29:21,840 Speaker 1: on British sanctions against Russia. Included Boys Johnson's promise to 527 00:29:22,000 --> 00:29:26,040 Speaker 1: finally act on a register of property ownership. I mean 528 00:29:26,200 --> 00:29:29,040 Speaker 1: Corey on w T a M in Cleveland. I'm reporting 529 00:29:29,080 --> 00:29:32,080 Speaker 1: the Cavilliers you're cleaning up with Caesars for a sports 530 00:29:32,120 --> 00:29:34,760 Speaker 1: book at Rocket Mortgage field House. And those were some 531 00:29:34,880 --> 00:29:37,720 Speaker 1: of the stories our tred Bloomberg journalist and analysts are 532 00:29:37,760 --> 00:29:39,920 Speaker 1: working on this morning around the world. It's five thirty 533 00:29:39,960 --> 00:29:43,040 Speaker 1: nine on Wall Street. The following is an editorial from 534 00:29:43,160 --> 00:29:48,680 Speaker 1: Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. 535 00:29:49,200 --> 00:29:54,560 Speaker 1: Ignoring near universal condemnation, Russia has launched a full scale 536 00:29:54,720 --> 00:29:59,880 Speaker 1: invasion of Ukraine, an act of unprovoked aggression. The threat 537 00:30:00,200 --> 00:30:05,520 Speaker 1: global stability. The world's response must be swift and exacting. 538 00:30:06,080 --> 00:30:10,600 Speaker 1: The US and Europe should exploit their greatest strategic advantage 539 00:30:10,640 --> 00:30:14,240 Speaker 1: over Russia, their economic power, and cut the country off 540 00:30:14,480 --> 00:30:19,520 Speaker 1: from the global financial system. Those sanctions alone won't dislodge 541 00:30:19,640 --> 00:30:24,800 Speaker 1: Russian forces from Ukraine. Patient and unstinting application of economic 542 00:30:24,880 --> 00:30:29,600 Speaker 1: pressure remains the best tool for deterring further aggression. The 543 00:30:29,720 --> 00:30:32,960 Speaker 1: West should be clear eyed about the challenge it faces. 544 00:30:33,440 --> 00:30:37,960 Speaker 1: Russian President Vladimir Putin has exploited years of US disengagement 545 00:30:38,200 --> 00:30:42,120 Speaker 1: to so chaos, divide NATO and attempt to undo Europe's 546 00:30:42,320 --> 00:30:47,000 Speaker 1: post Cold War order. Now he's invaded a democratic nation. 547 00:30:47,640 --> 00:30:52,080 Speaker 1: A faltering response will only embolden other bad actors on 548 00:30:52,200 --> 00:30:56,600 Speaker 1: the global stage. This is no moment for weakness. This 549 00:30:56,840 --> 00:31:00,320 Speaker 1: editorial was written by the Bloomberg Editorial Board. For more 550 00:31:00,360 --> 00:31:03,920 Speaker 1: Bloomberg opinion, please go to Bloomberg dot com, slash opinion 551 00:31:04,080 --> 00:31:07,240 Speaker 1: or O P I N go on the Bloomberg terminal. 552 00:31:07,560 --> 00:31:11,600 Speaker 1: This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials 553 00:31:11,720 --> 00:31:14,800 Speaker 1: every weekday. At this time, terminal customers can read more 554 00:31:15,120 --> 00:31:22,760 Speaker 1: at op I end. This is Bloomberg. Remember the eleven 555 00:31:22,800 --> 00:31:25,080 Speaker 1: three oh weather winter weather advisory this morning. We'll have 556 00:31:25,120 --> 00:31:27,680 Speaker 1: sunny breaks this afternoon with a hind your forty mid 557 00:31:27,800 --> 00:31:31,680 Speaker 1: thirties tomorrow, low forties on Sunday. Right now, a mix 558 00:31:31,800 --> 00:31:37,320 Speaker 1: of rain and freezing rain in thirty two degrees. Markets, 559 00:31:37,440 --> 00:31:40,479 Speaker 1: headlines and breaking news twenty four hours a day at 560 00:31:40,520 --> 00:31:43,920 Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg 561 00:31:44,000 --> 00:31:53,680 Speaker 1: Quick Tape. This is a Bloomberg Business Flash and I'm Karin. 562 00:31:53,760 --> 00:31:58,920 Speaker 1: Moscow stocks are climbing. US Dock Index futures are slipping 563 00:31:59,400 --> 00:32:02,440 Speaker 1: as the UK Ran conflict and Western sanctions on Russia. 564 00:32:02,600 --> 00:32:05,800 Speaker 1: Muddy's the outlook for markets in the global economic recovery, 565 00:32:06,000 --> 00:32:08,280 Speaker 1: who checked the markets every fifteen minutes throughout the trading 566 00:32:08,360 --> 00:32:10,840 Speaker 1: day on Bloomberg Right now, S and P futures are 567 00:32:10,920 --> 00:32:13,640 Speaker 1: down at twenty eight points down, futures down two hundred eighteen, 568 00:32:13,720 --> 00:32:16,719 Speaker 1: NASADAG futures down eighty one. Well, the decks in Germany 569 00:32:16,880 --> 00:32:19,480 Speaker 1: is up one and a quarter percent. Ten year treasury 570 00:32:19,520 --> 00:32:21,560 Speaker 1: that will change. He had one point nine six percent, 571 00:32:21,640 --> 00:32:24,200 Speaker 1: the yield on the two year one point five eight percent. 572 00:32:24,720 --> 00:32:28,320 Speaker 1: Nine X Screwed oil is now falling down about half percent, 573 00:32:28,440 --> 00:32:30,480 Speaker 1: or thirty nine cents at ninety two dollars forty two 574 00:32:30,520 --> 00:32:33,120 Speaker 1: cents of barrel comic school. There's down eight ten percent 575 00:32:33,240 --> 00:32:36,200 Speaker 1: or fifteen dollars eighty cents at nineteen ten fifty announced. 576 00:32:36,520 --> 00:32:39,120 Speaker 1: The euro one point one one seven nine against the dollar, 577 00:32:39,200 --> 00:32:41,600 Speaker 1: British pound one point three three eight zero, and the 578 00:32:41,680 --> 00:32:44,360 Speaker 1: yen is at one fifteen point three six and bitcoin 579 00:32:44,480 --> 00:32:47,280 Speaker 1: this morning it's moving higher at thirty eight thousand, five 580 00:32:47,360 --> 00:32:50,120 Speaker 1: hundred fifty dollars. That's a Bloomberg business flash. Now here's 581 00:32:50,160 --> 00:32:52,480 Speaker 1: Michael Barr with more on what's going on around the world. 582 00:32:52,640 --> 00:32:56,200 Speaker 1: Michael Karen, thank you very much. Ukraine's president set his 583 00:32:56,360 --> 00:32:59,480 Speaker 1: nation continued to resist on the second day of the 584 00:32:59,640 --> 00:33:03,720 Speaker 1: brush An invasion as fighting raged on north of Keith. 585 00:33:04,240 --> 00:33:08,240 Speaker 1: President Volodimir z Lensky said Ukraine's military had stopped Russia 586 00:33:08,440 --> 00:33:11,400 Speaker 1: from achieving its objectives in the first day of the assault. 587 00:33:11,840 --> 00:33:15,520 Speaker 1: The US and European Union stepped up economic penalties. Meanwhile, 588 00:33:15,640 --> 00:33:19,000 Speaker 1: China is holding back from labeling Russia's attack on Ukraine 589 00:33:19,160 --> 00:33:22,320 Speaker 1: as an invasion. In sports, the Celtics beat the Nets 590 00:33:22,360 --> 00:33:26,040 Speaker 1: one twenty nine Mono six the Warriors one. In the NHL, 591 00:33:26,080 --> 00:33:29,080 Speaker 1: the Rangers beat the Capitals for one. The Devil's won, 592 00:33:29,200 --> 00:33:31,800 Speaker 1: the Islanders lost, the Bruins beat, the Krack and and 593 00:33:31,880 --> 00:33:34,800 Speaker 1: O T three two Global news twenty four hours a 594 00:33:34,880 --> 00:33:37,960 Speaker 1: day on air and on Bloomberg Quick Take, powered by 595 00:33:38,080 --> 00:33:41,400 Speaker 1: more than twenty seven hundred journalist analysts in more than 596 00:33:41,440 --> 00:33:45,160 Speaker 1: a hundred twenty countries. Michael Barn this is Bloomberg, Nathan. 597 00:33:45,320 --> 00:33:47,560 Speaker 1: Thanks Michael. We're coming up to five forty nine on 598 00:33:47,640 --> 00:33:50,560 Speaker 1: Wall Street Live from the Bloomberg Interactive Brokers studios. This 599 00:33:50,800 --> 00:33:53,720 Speaker 1: is Bloomberg Daybreak. As we get ready for a Friday 600 00:33:53,800 --> 00:33:56,960 Speaker 1: morning of trading. St. Dweck is with this, chief investment 601 00:33:57,000 --> 00:34:00,160 Speaker 1: officer at Flow Bank. I wonder how much more drama 602 00:34:00,200 --> 00:34:03,360 Speaker 1: mean we're gonna need after all the volatility we saw yesterday. 603 00:34:03,560 --> 00:34:08,000 Speaker 1: Ste where do things go from here? Good morning? That 604 00:34:08,320 --> 00:34:12,440 Speaker 1: is a very good question. Historically, what we've seen is 605 00:34:12,560 --> 00:34:16,320 Speaker 1: that markets actually tend to bottom on the day or 606 00:34:16,640 --> 00:34:20,600 Speaker 1: of the invasion, so yesterday could have been the worst 607 00:34:20,640 --> 00:34:23,240 Speaker 1: of it, although we did see a nice bounce across 608 00:34:23,280 --> 00:34:26,160 Speaker 1: a lot of the US in disease. Uh this morning 609 00:34:26,239 --> 00:34:29,279 Speaker 1: feels a little bit like the market got a bit 610 00:34:29,400 --> 00:34:32,320 Speaker 1: too excited yesterday and the rebound was a little too strong, 611 00:34:32,840 --> 00:34:36,719 Speaker 1: and investors realized that there's four or five huge data 612 00:34:36,760 --> 00:34:40,279 Speaker 1: points coming up in the next two three weeks, with 613 00:34:40,440 --> 00:34:43,719 Speaker 1: central banks, with inflation, with non farm peril. So it 614 00:34:43,840 --> 00:34:48,719 Speaker 1: seems that volatility is going to stay, especially because no 615 00:34:48,800 --> 00:34:53,239 Speaker 1: one really knows what Putent's endgame is. But they're also 616 00:34:53,440 --> 00:34:55,840 Speaker 1: still i'd say the usual suspects that have been weighing 617 00:34:55,880 --> 00:34:57,799 Speaker 1: in markets since the start of the year that are 618 00:34:57,840 --> 00:34:59,840 Speaker 1: still in play. Do you think data is going to 619 00:34:59,880 --> 00:35:02,000 Speaker 1: be a catalyst for traders going forward or can we 620 00:35:02,080 --> 00:35:07,719 Speaker 1: see more volatility depending on further sanctions action. Well, I 621 00:35:07,800 --> 00:35:11,880 Speaker 1: think we have the question of sanctions hitting the energy sector, 622 00:35:12,040 --> 00:35:15,360 Speaker 1: which we can see that the West wants to avoid 623 00:35:15,400 --> 00:35:17,880 Speaker 1: as much as as possible because it would kind of 624 00:35:17,960 --> 00:35:21,080 Speaker 1: be shooting yourself in the foot. Actually, up until now, 625 00:35:21,320 --> 00:35:24,400 Speaker 1: the question of energy was more a question of putin 626 00:35:24,600 --> 00:35:28,120 Speaker 1: counter sanctioning the West, but that doesn't seem to be 627 00:35:28,200 --> 00:35:31,680 Speaker 1: the case either, So it's really a question of of 628 00:35:31,840 --> 00:35:35,200 Speaker 1: both of those. The data is still going to be 629 00:35:35,360 --> 00:35:39,400 Speaker 1: We have the US inflation, European inflation jobs data, and 630 00:35:39,520 --> 00:35:42,920 Speaker 1: then the two big central banks coming up, uh, and 631 00:35:43,040 --> 00:35:45,320 Speaker 1: that's going to be a bigger driver. Even though the 632 00:35:45,480 --> 00:35:50,040 Speaker 1: headlines around Russia Ukraine could still have an impact, but 633 00:35:50,640 --> 00:35:54,560 Speaker 1: the shock of yesterday's invasion was probably the big, the 634 00:35:54,640 --> 00:35:57,360 Speaker 1: most volatile headline we could think of. So are you 635 00:35:57,440 --> 00:36:00,440 Speaker 1: thinking that that the FED is going to look past 636 00:36:00,840 --> 00:36:04,360 Speaker 1: what's going on in Ukraine and stay on its tightening 637 00:36:04,400 --> 00:36:07,160 Speaker 1: path or or could what the the events that we're 638 00:36:07,200 --> 00:36:10,000 Speaker 1: seeing on the ground shake the FED in terms of 639 00:36:10,840 --> 00:36:15,640 Speaker 1: where it goes with rate hikes. I don't think it changes. 640 00:36:15,800 --> 00:36:18,400 Speaker 1: I think there's a there's a mix. You have the 641 00:36:18,560 --> 00:36:22,880 Speaker 1: view that UH growth could be impacted by the sanctions 642 00:36:22,960 --> 00:36:26,960 Speaker 1: by higher oil prices, and that's not fantastic. But at 643 00:36:27,000 --> 00:36:29,160 Speaker 1: the same time, you have the view that energy prices 644 00:36:29,160 --> 00:36:31,560 Speaker 1: are going to be even higher and so inflation could 645 00:36:31,560 --> 00:36:35,640 Speaker 1: stay higher for even longer than what the FED was anticipating. 646 00:36:35,680 --> 00:36:37,800 Speaker 1: So I think at this point, net net, there's no 647 00:36:38,160 --> 00:36:42,040 Speaker 1: impact on the FED. The March rate hike is coming, 648 00:36:42,400 --> 00:36:44,879 Speaker 1: most likely not fifty basis points. That was my view 649 00:36:45,160 --> 00:36:49,440 Speaker 1: before the Russia events. But I don't think this is important. 650 00:36:49,440 --> 00:36:51,560 Speaker 1: I mean enough obviously on the human side, but enough 651 00:36:51,600 --> 00:36:55,800 Speaker 1: from an economic perspective to change the FEDS path. In 652 00:36:55,960 --> 00:36:59,480 Speaker 1: terms of the divergence we're seeing this morning between European 653 00:36:59,600 --> 00:37:05,640 Speaker 1: stock and futures on Wall Street. How do you explain that? Well, 654 00:37:05,719 --> 00:37:09,960 Speaker 1: I think we're seeing European stocks follow the US higher, 655 00:37:10,080 --> 00:37:14,960 Speaker 1: so yesterday's rebound is kind of feeding through into Europe. Uh. 656 00:37:15,120 --> 00:37:18,360 Speaker 1: There's probably a little bit of comfort that, uh, the 657 00:37:18,560 --> 00:37:21,640 Speaker 1: energy sector wasn't touched because Europe is a is a 658 00:37:21,800 --> 00:37:26,040 Speaker 1: much bigger risk of all these energy discussions than the 659 00:37:26,200 --> 00:37:29,239 Speaker 1: US is in terms of a purely economic and and 660 00:37:29,440 --> 00:37:33,879 Speaker 1: price impact. We'll have to see how your closes if 661 00:37:33,960 --> 00:37:37,320 Speaker 1: the US really does open down uh and and pulls 662 00:37:37,360 --> 00:37:39,520 Speaker 1: Europe down a little bit with it. So on the 663 00:37:39,640 --> 00:37:42,680 Speaker 1: last thirty seconds here st these events of the week 664 00:37:42,840 --> 00:37:46,239 Speaker 1: and the potential for more conflict going forward. Here, are 665 00:37:46,320 --> 00:37:50,759 Speaker 1: you changing your target for the SMP for this year? No, 666 00:37:51,360 --> 00:37:54,720 Speaker 1: we haven't changed our allocations and we haven't changed our targets. 667 00:37:54,840 --> 00:37:59,759 Speaker 1: Were still constructive. First half choppy, now choppy year. Uh. 668 00:38:00,040 --> 00:38:02,279 Speaker 1: I think better news coming in the second half of 669 00:38:02,320 --> 00:38:05,239 Speaker 1: the year. First half choppy but choppy era. That's a 670 00:38:05,760 --> 00:38:08,000 Speaker 1: interesting way to term it. Thank you for this, s D. 671 00:38:08,120 --> 00:38:10,239 Speaker 1: Good having you with us this morning. S D. Dwag 672 00:38:10,880 --> 00:38:14,760 Speaker 1: is a chief investment officer at Flow Bank. Karen nathan 673 00:38:14,800 --> 00:38:18,200 Speaker 1: it is had three Outvalustrate. Time for our Bloombergy Law report. 674 00:38:18,280 --> 00:38:20,439 Speaker 1: We get to the legal stories we are watching this morning. 675 00:38:20,480 --> 00:38:27,480 Speaker 1: From Bloomberg's Joe Donneger, a group of retired NFL players 676 00:38:27,560 --> 00:38:29,880 Speaker 1: planned to ask the Ninth Circuit Court of Appeals to 677 00:38:29,960 --> 00:38:33,120 Speaker 1: revive their negligence claims against the league. They say they 678 00:38:33,160 --> 00:38:35,840 Speaker 1: were given opioids and other painkillers to stay on the 679 00:38:35,920 --> 00:38:39,080 Speaker 1: field even though they were hurt. Supply chain experts say 680 00:38:39,120 --> 00:38:41,640 Speaker 1: healthcare workers need a better breed of mass to fight 681 00:38:41,760 --> 00:38:45,320 Speaker 1: future pandemics, ones that fit better and are more comfortable. 682 00:38:45,760 --> 00:38:49,240 Speaker 1: The Biden administration is redesigning a Trump era Medicare pilot 683 00:38:49,280 --> 00:38:53,319 Speaker 1: program over objections from congressional Democrats. We see it as 684 00:38:53,360 --> 00:38:57,600 Speaker 1: an effort to privatize the system. Bloomberg Law everything you need, 685 00:38:57,920 --> 00:39:01,320 Speaker 1: all on one legal research plan for one, including guidance 686 00:39:01,400 --> 00:39:05,680 Speaker 1: analysis and Bloomberg market intelligence. Find out more at Bloomberg 687 00:39:05,760 --> 00:39:09,000 Speaker 1: lawn dot com. All right, Joan, thank you. Now. Another 688 00:39:09,080 --> 00:39:11,880 Speaker 1: legal story we're watching brings us to the US women's 689 00:39:11,920 --> 00:39:15,200 Speaker 1: soccer team. It's reaching agreement with US Soccer Federation to 690 00:39:15,440 --> 00:39:19,200 Speaker 1: settle allegations that women players are paid less than their 691 00:39:19,239 --> 00:39:22,520 Speaker 1: male counterparts. The settlement includes an agreement to pay twenty 692 00:39:22,560 --> 00:39:25,520 Speaker 1: four million dollars to the players, plus a commitment that 693 00:39:25,600 --> 00:39:29,200 Speaker 1: the federation will provide equal pay for female players going forward. 694 00:39:29,560 --> 00:39:32,320 Speaker 1: For more in this settlement, Bloomberg stun Grosso speaks in 695 00:39:32,400 --> 00:39:36,360 Speaker 1: Nicole Saharski, a partner at Mayor Brown, which represented the 696 00:39:36,440 --> 00:39:39,480 Speaker 1: women players at the appellate stage of the case. We've 697 00:39:39,560 --> 00:39:44,120 Speaker 1: heard the big number twenty four million. What exactly does 698 00:39:44,160 --> 00:39:47,240 Speaker 1: the settlement entail. There's two key components to the settlement, 699 00:39:47,320 --> 00:39:50,240 Speaker 1: and then there's a very important contingency. The first component 700 00:39:50,360 --> 00:39:53,440 Speaker 1: of the settlement is looking backwards for the members of 701 00:39:53,719 --> 00:39:57,080 Speaker 1: the class um actually two classes, that they would get 702 00:39:57,080 --> 00:40:00,640 Speaker 1: paid for the past paid discrimination by US Soccer, and 703 00:40:00,719 --> 00:40:04,360 Speaker 1: that's what the million is intended to do through two 704 00:40:04,440 --> 00:40:07,680 Speaker 1: million in direct payments to the class members and a 705 00:40:07,719 --> 00:40:10,600 Speaker 1: two million dollar fund um that the class members can 706 00:40:10,680 --> 00:40:13,440 Speaker 1: draw upon. And then the second part of the settlement 707 00:40:13,560 --> 00:40:16,600 Speaker 1: is the looking forward part, which is that US Soccer 708 00:40:16,840 --> 00:40:19,120 Speaker 1: has to pay the men and the women equally for 709 00:40:19,280 --> 00:40:21,920 Speaker 1: all tournaments and games in the future, including for the 710 00:40:21,960 --> 00:40:25,360 Speaker 1: World Cup. And then the important continuency on the settlement 711 00:40:25,800 --> 00:40:28,560 Speaker 1: is that the settlement will come into effect assuming it 712 00:40:28,680 --> 00:40:31,160 Speaker 1: is approved by the district court when the collective bargaining 713 00:40:31,239 --> 00:40:36,520 Speaker 1: agreement is ratified. So there are collective bargaining agreement negotiations 714 00:40:36,560 --> 00:40:39,839 Speaker 1: happening now, They've been happening for a while, and coming 715 00:40:39,880 --> 00:40:42,640 Speaker 1: to an agreement to those is importance that the players 716 00:40:42,719 --> 00:40:46,120 Speaker 1: have basically an agreement that governs their pay going forward. 717 00:40:46,680 --> 00:40:50,200 Speaker 1: Do you see the collective bargaining agreement as a big hurdle. 718 00:40:50,600 --> 00:40:53,000 Speaker 1: I think the players then US Soccer have been working 719 00:40:53,080 --> 00:40:55,400 Speaker 1: on it for months. I think that everyone is eager 720 00:40:55,440 --> 00:40:57,279 Speaker 1: to reach a resolution and that there's been a lot 721 00:40:57,320 --> 00:41:00,520 Speaker 1: of progress for the resolution. So I think folks are 722 00:41:00,640 --> 00:41:03,400 Speaker 1: anticipating that it will be resolved in the near future. 723 00:41:03,760 --> 00:41:07,319 Speaker 1: How much does this end gender discrimination in soccer? Well, 724 00:41:07,360 --> 00:41:09,880 Speaker 1: I think it's an incredibly important first step when you 725 00:41:09,960 --> 00:41:12,680 Speaker 1: look at it in perspective, the US Blooms national team 726 00:41:12,760 --> 00:41:15,600 Speaker 1: was formed in nine and the players had never been 727 00:41:15,640 --> 00:41:19,000 Speaker 1: paid equally since then, and this is the first time 728 00:41:19,040 --> 00:41:21,680 Speaker 1: that these players brought the e o C complaints and 729 00:41:21,760 --> 00:41:24,640 Speaker 1: then filed the lawsuit and really got US Soccer to 730 00:41:24,680 --> 00:41:26,760 Speaker 1: do something about it. Right, that pay will be equal 731 00:41:27,040 --> 00:41:30,320 Speaker 1: for the US women's national team and the men's national 732 00:41:30,400 --> 00:41:33,279 Speaker 1: team going forward, and so you know, we think it's 733 00:41:33,320 --> 00:41:36,520 Speaker 1: it's an important precedent obviously for the players on the 734 00:41:36,600 --> 00:41:40,080 Speaker 1: national team, but you know, potentially for other national teams, 735 00:41:40,120 --> 00:41:44,640 Speaker 1: potentially for other sports, etcetera. And that's Nicholasaharski, a partner 736 00:41:44,680 --> 00:41:47,799 Speaker 1: at Mayor Brown's, began the Bloomberg's Jung Grosso. Catch more 737 00:41:47,920 --> 00:41:50,959 Speaker 1: of that interview, plus analysis of the latest legal news 738 00:41:51,080 --> 00:41:54,320 Speaker 1: my subscribing to the Bloomberg Law Podcast or downloading this 739 00:41:54,360 --> 00:41:58,040 Speaker 1: show at Bloomberg dot com slash podcast. Attorneys can find 740 00:41:58,040 --> 00:42:00,680 Speaker 1: exceptional legal research and business develo them and tools at 741 00:42:00,680 --> 00:42:04,000 Speaker 1: Bloomberg Law dot com and on the Bloomberg terminal at 742 00:42:04,080 --> 00:42:08,280 Speaker 1: b law Go. And futures this morning are moving lower. 743 00:42:08,480 --> 00:42:12,319 Speaker 1: SNP futures down about twenty nine points down, futures down 744 00:42:12,480 --> 00:42:16,359 Speaker 1: two twenty three and ASDAG futures down seventy five. Ten 745 00:42:16,440 --> 00:42:19,000 Speaker 1: year treasury up to thirty seconds he had one point 746 00:42:19,080 --> 00:42:21,759 Speaker 1: nine five percent. They yield on the two year one 747 00:42:21,840 --> 00:42:25,640 Speaker 1: point five seven percent nine max. Screwed oil is little 748 00:42:25,760 --> 00:42:28,640 Speaker 1: changed at ninety two dollars eighty seven cents of barrel 749 00:42:29,040 --> 00:42:31,800 Speaker 1: and comes gold is down three quarters of a percent 750 00:42:31,960 --> 00:42:36,000 Speaker 1: or fourteen dollars fifty cents at nineteen eleven seventy announced 751 00:42:36,040 --> 00:42:38,880 Speaker 1: the euro one point one one seven nine against the dollar. 752 00:42:39,280 --> 00:42:43,200 Speaker 1: Still ahead on Bloomberg Daybreak, the latest on Russia and Ukraine. 753 00:42:43,360 --> 00:42:45,400 Speaker 1: All the news you need to start your day, and 754 00:42:45,640 --> 00:42:46,719 Speaker 1: this is Bloomberg