WEBVTT - Bloomberg Daybreak: May 3, 2022 - Hour 2 (Radio) 0:00:03.760 --> 0:00:07.000 Live from the Bloomberg Interactive Burger Studios. This is Bloomberg 0:00:07.080 --> 0:00:10.680 Daybreak for Tuesday May third, two. Coming up this hour, 0:00:11.039 --> 0:00:13.920 a report says the Supreme Court is poised to overturn 0:00:14.000 --> 0:00:17.320 the landmark ruling on a portioned team coverage Straight ahead, 0:00:17.440 --> 0:00:20.520 British Prime Minister Boris Johnson delivers a virtual address to 0:00:20.600 --> 0:00:24.360 Ukraine's Parliament and Treasury. Yields rise ahead of the Fed beating. 0:00:24.720 --> 0:00:27.720 New York City raises its COVID level to medium plus. 0:00:27.760 --> 0:00:31.960 Eyes aren Ohio for today's important GOP Senate primary race. 0:00:32.240 --> 0:00:35.760 I'm Michael Barr. More ahead, I'm John stash Award Sports 0:00:35.760 --> 0:00:38.720 making ten straight win for the Yankees, the Mets lost. 0:00:38.760 --> 0:00:44.680 The Rangers begin their playoff series with Pittsburgh tonight. That's 0:00:44.680 --> 0:00:48.640 all straining Ahead on Bloomberg Daybreak on Bloomberg eleven three, 0:00:48.640 --> 0:00:53.120 on New York, Bloomberg one, Washington, d C, Bloomberg one 0:00:53.120 --> 0:00:57.640 oh six one, Boston, Bloomberg nine sixties and Francisco Sirius 0:00:57.760 --> 0:01:00.840 x M one nineteen and around the world on Bloomberg 0:01:00.920 --> 0:01:07.880 Radio dot Com and via The Bloomberg Business. Good Morning, 0:01:07.880 --> 0:01:10.759 I'm Nathan Hager, and I'm Karen Moscow and US stock 0:01:10.840 --> 0:01:13.679 index futures are little change this morning. We're coming up 0:01:13.720 --> 0:01:15.280 to six o one on Wall Street, and we check 0:01:15.319 --> 0:01:18.040 the markets every fifteen minutes throughout the trading day on 0:01:18.160 --> 0:01:21.480 Bloomberg Guess and P Futures again little change. The decks 0:01:21.520 --> 0:01:24.080 in Germany is up six ten sive Upper sent the 0:01:24.120 --> 0:01:26.440 ten year treasury up one thirty second ye two point 0:01:26.520 --> 0:01:28.600 nine seven percent, in the yield of the two year 0:01:28.680 --> 0:01:31.760 two point seven six percent, and nim X screwed oil 0:01:31.959 --> 0:01:34.840 is down one point to percent. Nathan Karen, we'll have 0:01:34.920 --> 0:01:37.800 more on markets in a minute. First, though, protesters gathered 0:01:37.800 --> 0:01:40.600 outside the Supreme Court overnight in response to a leaked 0:01:40.720 --> 0:01:44.800 draft opinion published in Politico. It suggests the High Court 0:01:44.920 --> 0:01:48.440 is preparing to overturn Roe v. Wade. Amy Morris begins 0:01:48.440 --> 0:01:50.960 our team coverage from our Bloomberg ninety nine one newsroom 0:01:50.960 --> 0:01:54.640 in Washington. Barricades went up as demonstrators came out to 0:01:54.720 --> 0:02:01.279 protest the opinion, and then i'd eight page draft. Justice 0:02:01.320 --> 0:02:04.920 Samuel Alito writes Roe was egregiously wrong from the start. 0:02:05.000 --> 0:02:09.520 It also references Planned Parenthood v. Casey. Justice Alito writes, quote, 0:02:09.560 --> 0:02:13.160 we hold that Roe and Casey must be overruled. This 0:02:13.200 --> 0:02:15.679 woman says she joined the demonstrations when she heard the 0:02:15.720 --> 0:02:18.600 High Court may plan to overturn Roe v. Wade. You know, 0:02:18.680 --> 0:02:20.359 it really just feels like every all the work we 0:02:20.440 --> 0:02:22.720 put into was just torn up and thrown in the garbage. 0:02:22.720 --> 0:02:25.399 And it's honestly ridiculous to me because of how far 0:02:25.440 --> 0:02:27.800 we've come forrit to just be set back in the time. 0:02:27.960 --> 0:02:31.320 Senate Majority Leader Chuck Schumer and how Speaker Nancy Pelosi 0:02:31.360 --> 0:02:34.720 issued a joint statement referencing justices like Brett Kavanaugh and 0:02:34.760 --> 0:02:38.200 Neil Gorst who have said that Roe is settled law, writing, 0:02:38.240 --> 0:02:41.320 the conservative justices quote, have lied to the U. S. 0:02:41.320 --> 0:02:45.000 Senate and ripped up the constitution. In Washington, I'm Amy Morris, 0:02:45.040 --> 0:02:47.880 Bloomberg Daybreak. All right, Amy, thank you. Al Abortion rights 0:02:48.000 --> 0:02:50.760 is now an issue that could reshape the mid term elections, 0:02:50.800 --> 0:02:54.040 and Bloomberg Law reporter Jun Gruns continues our team coverage 0:02:54.040 --> 0:02:57.280 in New York. It would become a huge issue for 0:02:57.360 --> 0:03:00.520 the mid term. People say that it would for perhaps 0:03:00.800 --> 0:03:05.400 invigorate the Democratic base to get out there, because this 0:03:05.600 --> 0:03:09.000 is really one of the social issues of our time, 0:03:09.280 --> 0:03:11.760 and you know, women fought for so long to get 0:03:12.040 --> 0:03:15.040 the right to an abortion, and now, in pretty short 0:03:15.120 --> 0:03:18.920 measure in the history of our rights, it's being overturned. 0:03:19.160 --> 0:03:22.400 Bloomberg's durn Grosso says the leaking of the Supreme Court 0:03:22.480 --> 0:03:25.919 draft decision is perhaps more surprising than the apparent ruling. 0:03:26.120 --> 0:03:28.360 And we'll have more details and analysis carrying on that 0:03:28.400 --> 0:03:31.120 apparent Supreme Court decision coming up shortly. First, we want 0:03:31.120 --> 0:03:33.160 to get you the latest on the war in Eastern Europe. 0:03:33.160 --> 0:03:35.720 Boris Johnson weighs in on the conflict. Today, the British 0:03:35.760 --> 0:03:38.680 Prime Minister will evoke his own country's wartime history in 0:03:38.720 --> 0:03:41.720 a virtual address to Ukraine's parliament. Let's get the latest 0:03:41.720 --> 0:03:44.520 from Bloomberg's You and Potts in London. Good morning, Good morning, 0:03:44.600 --> 0:03:47.960 Nathan and Karen. Brother Johnson is addressing Ukraine's parliament today, 0:03:48.000 --> 0:03:50.560 becoming the first world leader to do so. He's expected 0:03:50.600 --> 0:03:53.720 to say that the bravery demonstrated by Ukrainian fighters means 0:03:53.760 --> 0:03:55.680 the war will come to be known as the country's 0:03:55.800 --> 0:03:59.440 finest our, echoing the words of British leader Winston Churchill. 0:03:59.800 --> 0:04:01.840 In addition, the UK has announced the new package of 0:04:01.880 --> 0:04:04.440 some three hundred and seventy five million dollars in military 0:04:04.440 --> 0:04:07.520 eight for Ukraine. In London, Immu and pots Big Daybreak, 0:04:07.880 --> 0:04:09.920 y do and thank you well in Ukraine. Today, more 0:04:10.000 --> 0:04:13.800 civilian evacuations are expected from Maria, pol and other cities 0:04:13.840 --> 0:04:17.000 in Russian hands as the conflict drags on. Former CIA 0:04:17.040 --> 0:04:21.000 director David Petrea says it's slowly grinding Russia down. The 0:04:21.080 --> 0:04:25.400 Russians are running out of troops and material. They cannot 0:04:25.520 --> 0:04:28.320 replace what has been lost, at least not in the 0:04:28.360 --> 0:04:31.640 short term. It's possible that Flatter and Putin on nine 0:04:31.680 --> 0:04:34.599 May during the World War two Victory Day celebration in 0:04:34.640 --> 0:04:38.640 Moscow could announce general mobilization or something like that. Retired 0:04:38.640 --> 0:04:42.440 General David Petrayus is now chairman of the KKR Global Institute. 0:04:42.440 --> 0:04:45.080 He spoke with David Weston on Bloomberg's Balance of Power. 0:04:45.440 --> 0:04:48.200 Catch the show weekdays at noon Eastern on Bloomberg Radio 0:04:48.240 --> 0:04:50.960 and television many time. Karen's City Group is still seeking 0:04:50.960 --> 0:04:54.320 potential buyer sports operations in Russia. We spoke with CEO 0:04:54.440 --> 0:04:58.080 Jane Fraser about the effort we're selling our consumer and 0:04:58.080 --> 0:05:01.240 our commercial banking franchise on ground there and we're in 0:05:01.360 --> 0:05:05.360 active dialogue around that um and then what we've also 0:05:05.440 --> 0:05:08.080 been doing is focusing on helping the multinationals on the 0:05:08.120 --> 0:05:10.920 ground because a lot of our client base of the 0:05:11.000 --> 0:05:14.280 fortune and five hundred um their names that we all know, 0:05:14.880 --> 0:05:17.200 and some of many of those are looking at exiting. 0:05:17.800 --> 0:05:20.080 You can't exit if you don't have your bank on 0:05:20.120 --> 0:05:22.880 the ground there. City Group CEO Jane Fraser made the 0:05:22.920 --> 0:05:24.960 comments in an interview with Bloomberg at the Milk and 0:05:25.040 --> 0:05:29.000 Institute Global Conference in California. Let's turn to the Fed now, Nathan, 0:05:29.040 --> 0:05:31.880 we're central bankers begin their two day policy meeting today. 0:05:31.920 --> 0:05:34.760 They're widely expected to raise rates by fifty basis points 0:05:34.760 --> 0:05:37.160 at tomorrow's decision, and we get the very latest life 0:05:37.160 --> 0:05:40.400 with Bloomberg's John Tucker, John and Karrently. It would be 0:05:40.440 --> 0:05:44.440 the biggest US rate hikes since two thousand. Bloomberg Economics 0:05:44.440 --> 0:05:48.400 says what happens after that is highly uncertain, and Citadel 0:05:48.480 --> 0:05:51.640 founder Ken Griffin says FED cheer j pal will actually 0:05:51.680 --> 0:05:55.920 be able to ease off monetary tightening if inflation drops quickly, 0:05:56.240 --> 0:05:59.440 if the inflation is transitory, If we are heading towards 0:05:59.640 --> 0:06:01.520 a four percent rate by the end of the year, 0:06:02.080 --> 0:06:06.200 here's a lot more room to maneuver rates in Ken 0:06:06.240 --> 0:06:08.920 Griffin spoke to Bloomberg at the Milk and Global Conference 0:06:08.920 --> 0:06:12.000 in Beverly Hills. He added, if inflation doesn't break soon, 0:06:12.440 --> 0:06:15.039 the federill then have to hit the brakes pretty hard. 0:06:15.160 --> 0:06:17.880 At that will put us into recession. Live in New 0:06:17.960 --> 0:06:20.640 York on John Tucker Bloomberg Daybreak, I think John, let's 0:06:20.640 --> 0:06:23.039 turn to Amazon now and a labor victory in the 0:06:23.080 --> 0:06:26.279 company's favor in New York. Bloomberg's Rinia Young joins us 0:06:26.320 --> 0:06:28.760 live at that. Good Morning, Nina, Good morning, Nathan. Workers 0:06:28.760 --> 0:06:32.080 at a Staten Island Amazon facility voted not to join 0:06:32.160 --> 0:06:35.240 an upstart union. This comes just weeks after the group 0:06:35.279 --> 0:06:38.440 won a resounding victory had a warehouse across the street. 0:06:38.760 --> 0:06:41.440 The most recent election at a sorting center was not 0:06:41.600 --> 0:06:45.160 even close. The Amazon labor union got just three and 0:06:45.240 --> 0:06:49.840 eight yes votes to six eighteen knows. It's welcome news 0:06:49.880 --> 0:06:54.000 for Amazon, which reported online sales slowed and acknowledged it 0:06:54.040 --> 0:06:57.520 has too many workers. Live in New York. I'm Nita Young, 0:06:57.560 --> 0:07:00.480 Bloomberg Daybreak. Al Right, Nita, thank you, and burg day 0:07:00.480 --> 0:07:02.320 Break is brought to you by b n y Melon's 0:07:02.360 --> 0:07:05.400 Pershing learned why the world's most sophisticated wealth management and 0:07:05.480 --> 0:07:09.360 institutional firms rely on Pershing to help them improve profitability, 0:07:09.560 --> 0:07:14.800 create efficiency, attract talent, and manage risk at pershing dot com. 0:07:14.920 --> 0:07:17.760 Straight Ahead, your latest local headlines and a check of sports. 0:07:17.800 --> 0:07:24.880 This is Bloomberg six o seven on Wall Street, fifty 0:07:24.880 --> 0:07:27.560 two degrees in Central Park. Still dealing with an accident 0:07:27.560 --> 0:07:30.120 on the northbound FDR Drive at seventy nights. Details coming 0:07:30.200 --> 0:07:32.400 up in traffic. First Michael bar with more on what's 0:07:32.440 --> 0:07:34.480 going on in New York and around the world. Good morning, Michael, 0:07:34.520 --> 0:07:37.840 Good morning Nathan. The spread of the ovid O macron 0:07:38.080 --> 0:07:41.040 variant has pushed up infection rates in New York City. 0:07:41.400 --> 0:07:44.360 It has now moved into the medium risk alert level 0:07:44.600 --> 0:07:48.320 and that means masking in public indoor areas is recommended. 0:07:48.680 --> 0:07:52.960 New York City Health Commissioner Dr Ashwin Vassan on hospitalizations, 0:07:53.000 --> 0:07:58.440 we see a slight increase on that occupancy were relatively stable. 0:07:58.960 --> 0:08:01.040 Both of those would have to jump up to a 0:08:01.120 --> 0:08:04.040 higher a significantly higher level for us to move into 0:08:04.080 --> 0:08:08.240 a higher risk category. New York Mayor Eric Adams agreed 0:08:08.280 --> 0:08:10.600 with the doctor of a son, We're gonna pivot this 0:08:10.800 --> 0:08:13.760 ship and be honest when New Yorkers. As we move forward, 0:08:13.800 --> 0:08:17.120 we're not there yet, um of a based on what 0:08:17.120 --> 0:08:19.760 evident analysis with the medical team, we're gonna make the 0:08:19.840 --> 0:08:23.160 decision to keep our sitting up and operated. Mayor Adams 0:08:23.200 --> 0:08:26.480 recently recovered from COVID and said his symptoms were very 0:08:26.560 --> 0:08:31.120 mild because he was vaccinated. Meanwhile, Mayor Adams channeled AOC 0:08:31.480 --> 0:08:35.080 at this year's met Galla in a tuxedo jacket that 0:08:35.200 --> 0:08:39.080 read end gun Violence. The jacket featured icons like the 0:08:39.080 --> 0:08:41.960 Brooklyn Bridge, as well as a large handgun with a 0:08:42.000 --> 0:08:45.360 red slash through it. The mayor was asked what message 0:08:45.559 --> 0:08:49.920 he was sending attending the met Galla. The division between 0:08:50.320 --> 0:08:54.199 affluent New Yorker is and those who are low wage employees. 0:08:54.400 --> 0:08:56.200 It should not be a division. We're all part of 0:08:56.240 --> 0:08:59.199 the same ecosystem. We need at fluent New Yorkers, we 0:08:59.240 --> 0:09:03.080 need our low wage employees. Together, we can celebrate each other. 0:09:03.760 --> 0:09:06.400 Mayor Adams also says the goal is to end gun 0:09:06.520 --> 0:09:10.360 violence and save our children. Lawyers for Donald Trump say 0:09:10.440 --> 0:09:14.040 it is unconscionable and indefensible for the acts President to 0:09:14.120 --> 0:09:16.680 be held in contempt and find ten thousand dollars a 0:09:16.760 --> 0:09:19.559 day for failing to turn over documents he doesn't possess. 0:09:20.040 --> 0:09:22.599 The lawyers made the argument and a submission to a 0:09:22.640 --> 0:09:25.319 New York State appeals court came a week after a 0:09:25.360 --> 0:09:28.920 state Supreme Court judge said Trump and his lawyers failed 0:09:28.920 --> 0:09:31.760 to show they conducted a proper search for records sought 0:09:32.040 --> 0:09:34.880 by the state's attorney general in a civil probe of 0:09:34.960 --> 0:09:38.880 his business dealings. Voters in Ohio head to the polls today, 0:09:38.880 --> 0:09:43.000 and the state's hotly contested Senate primary Jade Vans, endorsed 0:09:43.000 --> 0:09:46.840 by Trump, is surging, but he faces stiff competition, including 0:09:46.880 --> 0:09:51.679 Trump allied Josh Mandel and Trump critic Matt Dolan. Global 0:09:51.679 --> 0:09:54.120 News twenty four hours a day on air and on 0:09:54.200 --> 0:09:57.840 Bloomberg Quicktake, powered by more than twenty seven under journalist 0:09:57.880 --> 0:10:01.320 and analyist more than twenty countries. Michael bar This is Bloomberg. 0:10:01.720 --> 0:10:08.319 Thank you, Michael. Almost six ten on Wall Street time 0:10:08.320 --> 0:10:10.960 for the Bloomberg Sports Update with John Sanschallen. Thanks day. 0:10:11.120 --> 0:10:14.679 Another night, another Yankee victory, this one in Toronto or Glabor. 0:10:14.760 --> 0:10:16.439 Torres gave the Yanks to leave with a two on 0:10:16.600 --> 0:10:19.120 Homer and then Torres broke it two to tie with 0:10:19.280 --> 0:10:21.520 the run scoring hit of the ninth inning. Aaron Boone's 0:10:21.559 --> 0:10:23.840 team won three to two, and I won ten games 0:10:23.840 --> 0:10:25.959 in a row. Big night for Glabor the homer and 0:10:25.960 --> 0:10:29.200 and a a clutch hit there with two outs. Um 0:10:29.240 --> 0:10:33.079 you know, big steel off the bench from Locastro pitching 0:10:33.120 --> 0:10:39.360 did their thing to limit them enough. Um defense. Once again, 0:10:39.440 --> 0:10:42.079 they're hard to find anything not going well right now 0:10:42.120 --> 0:10:44.160 for the team with the best record the Major seventh 0:10:44.160 --> 0:10:47.120 seen and six Yankees best start since two thousand three. 0:10:47.200 --> 0:10:48.800 Met said at too not the lead at City Field, 0:10:48.800 --> 0:10:50.880 Mark Canna hit a home run, but Atlanta came back 0:10:50.880 --> 0:10:53.080 to win five to two. The X met Travis Darnel 0:10:53.160 --> 0:10:54.600 with a big two un double light in the game. 0:10:54.960 --> 0:10:57.040 The Mets, like all teams that had Depair, their roster 0:10:57.120 --> 0:11:00.320 down at twenty six, so they released Robinson Canoe despite 0:11:00.360 --> 0:11:02.760 still owing him about forty million dollars. Cano is now 0:11:02.800 --> 0:11:05.080 thirty nine years old, nowhere near the player he was 0:11:05.400 --> 0:11:07.280 back in his days with a Yankees served a year 0:11:07.320 --> 0:11:11.000 long pe D suspension. One. There was such an impressive 0:11:11.040 --> 0:11:14.160 regular season for the Rangers, fifty two wins, great productions 0:11:14.200 --> 0:11:16.240 and the likes of Chris Pryder are Timmy Panair and 0:11:16.280 --> 0:11:18.880 the goalie Egors histeric, and we'll see if it translates 0:11:18.920 --> 0:11:21.920 to the postseason Rangers in Pittsburgh tonight Game one at 0:11:21.920 --> 0:11:24.600 the Garden. The Rangers played the Penguins three times in 0:11:24.640 --> 0:11:26.840 a fairly recent two weeks stretch, and the Rangers won 0:11:26.880 --> 0:11:30.400 all three game one wins. Last night for Toronto, Carolina St. 0:11:30.440 --> 0:11:33.000 Louis and Los Angeles, and in the NBA Miami beat 0:11:33.000 --> 0:11:35.679 Philadelphia Sixers had to play without the injured Joel Mbid. 0:11:36.000 --> 0:11:39.040 Phoenix took Game one from Dallas despite forty five point 0:11:39.080 --> 0:11:43.960 by the Madais Luca Dunson's John Stashloomberg Sports Nathan all Right, John, Thanks, 0:11:44.000 --> 0:11:47.679 Futures little changed ahead of the FEDS to day May meeting. 0:11:47.720 --> 0:11:50.720 We have SMP futures up almost to point down, futures 0:11:50.760 --> 0:11:53.839 down four point, Stan Stack futures up one ten, your 0:11:53.840 --> 0:11:57.040 treasury up one thirty second, the yield two point nine 0:11:57.320 --> 0:12:08.560 seven per cent. You're listing to Bloomberg Daybreak. Bloomberg Daybreak 0:12:08.559 --> 0:12:10.880 brought to you by the Jewish Communal Fund j c F. 0:12:10.960 --> 0:12:13.160 S Downer Advised Fund is the smart choice to manage 0:12:13.200 --> 0:12:16.680 your philanthropy, especially in times of crisis. Make your giving impactful. 0:12:17.040 --> 0:12:23.320 Visit j c f n Y dot org markets headlines 0:12:23.400 --> 0:12:26.400 and breaking news twenty four hours a day. F Bloomberg 0:12:26.440 --> 0:12:29.800 dot com, the Bloomberg Business at and at Bloomberg quicktape 0:12:30.480 --> 0:12:39.719 is a Bloomberg Business flash. And I'm Karen Moscow and 0:12:39.840 --> 0:12:43.560 futures this morning are little changed. Investors racing for the 0:12:43.600 --> 0:12:46.560 biggest US rate high since two thousand and a wave 0:12:46.640 --> 0:12:50.079 of policy tightening by other central banks. Again, futures that 0:12:50.120 --> 0:12:52.199 will change the acts in Germany's up four tents of 0:12:52.280 --> 0:12:55.160 upper cent ten your treasury, that'll change yield two point 0:12:55.200 --> 0:12:57.360 on eight percent, yield on the two year two point 0:12:57.400 --> 0:13:00.199 seven seven percent. And I'm ex Scrude oil is down 0:13:00.240 --> 0:13:02.040 seven tenths per cent, or seventy six cents at a 0:13:02.080 --> 0:13:05.160 hundred four dollars forty one cents a barrel. And Bitcoin 0:13:05.360 --> 0:13:08.280 this morning is up four ten percent at thirty eight thousand, 0:13:08.360 --> 0:13:11.200 four hundred sixty dollars. That's a Bloomberg business flash. Now 0:13:11.200 --> 0:13:13.520 here's Michael Barr with more on what's going on around 0:13:13.559 --> 0:13:16.120 the world. Michael, Karen, thank you very much. A draft 0:13:16.160 --> 0:13:19.079 opinions suggests the U s Supreme Court could be poised 0:13:19.160 --> 0:13:23.079 overturn the landmark seventy three Roe v. Wade case that 0:13:23.200 --> 0:13:27.040 legalized abortion nationwide. That's according to a political report, a 0:13:27.120 --> 0:13:30.160 mass of fire is burning at that steel plan in Maryupol. 0:13:30.240 --> 0:13:34.720 Potentially hundreds of people remain trapped there as the Russians 0:13:34.800 --> 0:13:38.680 bombard the area. Baseball, the Yankees one, the Mats lost, 0:13:38.720 --> 0:13:41.520 along with the Orioles and A's that the NHL Playoffs, 0:13:41.679 --> 0:13:43.760 the Urricanes skated past the Bruins and game one of 0:13:43.800 --> 0:13:46.679 their Series five one. Global News twenty four hours a 0:13:46.760 --> 0:13:49.400 day on air and on Bloomberg Quickday, powered by more 0:13:49.679 --> 0:13:52.080 than twenty seven hundred journalists and analysts more than a 0:13:52.120 --> 0:13:55.880 hundred twenty countries. Michael Barn this is Bloomberg, Nathan. Thanks Michael. 0:13:55.880 --> 0:13:57.920 We're coming up to six nineteen on Wall Street Life 0:13:57.920 --> 0:14:01.120 from the Bloomberg Interacted Broker Studios. This is Bloomberg Daybreak 0:14:01.160 --> 0:14:03.360 and bloom and Bloomberg's June Grosso is with us, host 0:14:03.440 --> 0:14:06.120 of Bloomberg Law here on Bloomberg Radio, as we continue 0:14:06.120 --> 0:14:09.160 our coverage of this leaked draft opinion on the Supreme 0:14:09.200 --> 0:14:12.120 Court obtained by Politico that appears to show the High 0:14:12.120 --> 0:14:16.360 Court is poised to overturn Roe v. Wade. June, Good morning. 0:14:16.760 --> 0:14:19.680 This is not something we have seen from a Supreme 0:14:19.680 --> 0:14:22.720 Court in I can't think of a time where you've 0:14:22.720 --> 0:14:25.480 seen a leak like this this soon before we were 0:14:25.480 --> 0:14:30.760 expecting the decision. It is so shocking that I've been 0:14:30.800 --> 0:14:34.240 getting texts all night as soon as it happened, because 0:14:34.280 --> 0:14:38.200 people are aware that the Supreme Court is an institution 0:14:38.800 --> 0:14:43.440 that is very guarded about about its inner workings, that 0:14:43.800 --> 0:14:47.600 we really rarely find out what happened until after a 0:14:47.720 --> 0:14:51.480 justice dies and their papers are published. So to have 0:14:51.640 --> 0:14:55.800 a leak like this is just extraordinary. And you have 0:14:55.960 --> 0:14:59.920 to think that the justices, and particularly Chief Justice Roberts, 0:15:00.400 --> 0:15:05.080 are outraged that this has happened and wondering just how. 0:15:05.120 --> 0:15:08.080 And I, of course I have no idea except I 0:15:08.120 --> 0:15:12.120 would say that the political nature of this decision, you know, 0:15:12.160 --> 0:15:16.200 the overturning of Road Wade, may be one reason why 0:15:16.200 --> 0:15:20.080 it was leaked from someone inside the court. What what 0:15:20.200 --> 0:15:23.960 does this due June to the integrity of the Supreme Court, 0:15:24.040 --> 0:15:27.280 not just for a decision like this to come to 0:15:27.440 --> 0:15:33.000 light before it's official, but for the overall politicization of 0:15:33.040 --> 0:15:34.760 this court. I think it's safe to say that the 0:15:34.800 --> 0:15:38.040 Supreme Court has become much more politicized in recent years. 0:15:39.760 --> 0:15:42.960 I think it has, and particularly of late with the 0:15:43.240 --> 0:15:46.880 six very conservative justices on the Court. You know, I 0:15:46.920 --> 0:15:48.960 think you have to go back to what Justice Cilia 0:15:49.080 --> 0:15:53.640 so To Mayor said during the oral arguments in this case, 0:15:53.920 --> 0:15:57.080 and she said that if this happened, the Court will 0:15:57.120 --> 0:16:00.480 be seen as political. She said, how will this stitution 0:16:00.640 --> 0:16:04.880 survives the stench that this creates in the public perception 0:16:05.280 --> 0:16:08.600 that the Constitution and its readings are just political acts. 0:16:08.600 --> 0:16:11.640 She said, if people actually believe this is all political, 0:16:12.000 --> 0:16:14.840 how will we survive? And we've seen more and more 0:16:14.920 --> 0:16:19.360 politics in some of the Supreme Court's decisions. This really, 0:16:19.440 --> 0:16:22.000 I think, would you know, would take it over the top, 0:16:22.120 --> 0:16:24.440 And especially if you look at the draft. I mean, 0:16:24.480 --> 0:16:29.120 it's so caustically written, um, and you know, the it's 0:16:29.160 --> 0:16:32.280 just I have to remind you that when we listen 0:16:32.360 --> 0:16:35.720 to the justices in a confirmation hearings, you hear over 0:16:35.760 --> 0:16:39.240 and over again Roe v. Wade accepted precedent from every 0:16:39.400 --> 0:16:42.640 one of them that has that is obviously that's signed 0:16:42.640 --> 0:16:46.800 on to this draft allegedly, and even Justice Alito, And 0:16:46.880 --> 0:16:49.760 now we're hearing them say that from the beginning, this 0:16:49.920 --> 0:16:53.960 was bad law. It's not. It's not established precedent, or 0:16:53.960 --> 0:16:56.880 but its established. President, we're going to overturn it. So 0:16:57.480 --> 0:17:01.840 I can't imagine the kind of implication just will have. Well, 0:17:02.080 --> 0:17:04.600 I want to ask what kind of implications could this 0:17:04.760 --> 0:17:11.720 have for future Supreme Court confirmations when presidents nominate judges 0:17:11.840 --> 0:17:15.600 to become justices and they go before the Senators to 0:17:15.720 --> 0:17:20.600 face questions about case law and Supreme Court precedent. How 0:17:20.600 --> 0:17:25.040 does this affect that? Well, I have to say I 0:17:25.080 --> 0:17:28.520 haven't put much stock in Supreme Court confirmation hearings in 0:17:28.720 --> 0:17:32.040 sometime because the justices will go there and talk about 0:17:32.040 --> 0:17:35.359 how precedent is so important. And then lately we've seen 0:17:35.440 --> 0:17:38.399 them undoing a lot of cases where they're president. I 0:17:38.400 --> 0:17:41.520 mean a few years ago we had them undo a 0:17:41.640 --> 0:17:45.880 thirty year old precedent about union rights. It's it's happening 0:17:45.880 --> 0:17:49.080 more and more, and I think that a lot of 0:17:49.119 --> 0:17:54.320 the justices, particularly Lena Kagan, have expressed, you know, distress 0:17:54.520 --> 0:18:00.080 about this happening, about precedent not really being president anymore. Know, 0:18:00.240 --> 0:18:03.600 when Justice Amy Cody Barrett had her confirmation here and 0:18:03.680 --> 0:18:06.720 since she was asked a lot of questions about Roe v. Waite. 0:18:07.200 --> 0:18:10.320 She had something that she calls super precedent, which I've 0:18:10.359 --> 0:18:13.639 never heard of. Uh, certainly didn't teach it in law school. 0:18:13.800 --> 0:18:17.679 Super president were cases that were really well established, but 0:18:18.400 --> 0:18:21.000 other cases like Roe v. Wade, she said, we're not 0:18:21.160 --> 0:18:25.800 super precedent because it wasn't clearly established that everyone was 0:18:25.920 --> 0:18:28.840 on board with them, which sounded very political to me. 0:18:29.680 --> 0:18:33.720 And so you know, now we have this where many 0:18:33.760 --> 0:18:38.800 of the justices who said that Roe was precedent, and 0:18:38.920 --> 0:18:41.080 of course you think about Justice Kavanaugh, he said it 0:18:41.119 --> 0:18:44.280 over and over again. Roe was president, Roe was established 0:18:44.359 --> 0:18:48.280 law are now saying that no was wrong from the beginning, 0:18:48.520 --> 0:18:51.600 and we're going to overturn it. We're not going to 0:18:51.880 --> 0:18:54.600 We're not going to respect precedent. So the question becomes, 0:18:55.000 --> 0:18:58.840 which precedent are they going to respect once they're sworn in? 0:18:59.040 --> 0:19:02.359 Which aren't they? I think it really leaves us with 0:19:02.600 --> 0:19:06.480 questions about the court. Well, we should note that this 0:19:06.560 --> 0:19:10.720 is a draft opinion apparently written by Justice Alito. We 0:19:10.800 --> 0:19:14.280 don't know at this point who, if any justices will 0:19:14.720 --> 0:19:18.280 sign on in support of this decision, which begs the question. 0:19:18.480 --> 0:19:22.280 June with a leak like this coming out what nearly 0:19:22.480 --> 0:19:26.639 two months or so before this decision was expected to 0:19:26.680 --> 0:19:31.560 become official. Does this cause justices to think about where 0:19:31.600 --> 0:19:35.440 they stand on this issue when we start to see 0:19:35.560 --> 0:19:42.560 the reaction among voters in this country to the draft Well, 0:19:42.600 --> 0:19:48.280 I think that the justices say or pretend that they're 0:19:48.320 --> 0:19:51.720 not influenced by what the public says. That they're on 0:19:51.800 --> 0:19:57.199 the court to to to uh analyze the law, to 0:19:57.359 --> 0:20:01.560 figure out what the constitution says and to bye by it. However, 0:20:01.600 --> 0:20:05.080 I think that some of them are affected by what 0:20:05.280 --> 0:20:07.760 the public says. I just want to point out one thing, Nathan. 0:20:07.800 --> 0:20:12.560 This is a draft opinion. It's being circulated among the justices. 0:20:12.920 --> 0:20:16.400 This is not the final opinion. So once it gets 0:20:16.440 --> 0:20:20.840 circulated among the justices, the justices make comments. Currency and 0:20:20.880 --> 0:20:23.520 trade stocks in the US, Europe and Asia. Start your 0:20:23.600 --> 0:20:28.280 free trial at ibkr dot com slash Global Trader up. First, 0:20:28.600 --> 0:20:35.240 we go to Washington protesters outside the Supreme Court overnight 0:20:35.280 --> 0:20:39.159 reacting to that elite draft opinion published by Politico that 0:20:39.200 --> 0:20:41.920 we've been reporting on all morning and suggests the High 0:20:41.960 --> 0:20:45.200 Court is preparing to overturn Roe v. Wade and Bloomberg 0:20:45.280 --> 0:20:48.880 Law reporter During Grosso is saying the leak itself is unprecedented. 0:20:49.160 --> 0:20:52.280 Anyone who listened to the oral arguments knew that Roe v. 0:20:52.480 --> 0:20:56.200 Wade was either going to be severely limited or overturned. 0:20:56.359 --> 0:21:00.400 So it's not so shocking what Justice Alito is say here. 0:21:00.440 --> 0:21:04.720 What is shocking is that this was this draft was reliefed. 0:21:04.800 --> 0:21:07.240 This has never happened in the history of the Court, 0:21:07.600 --> 0:21:11.359 despite so many, you know, different opinions that were really 0:21:11.480 --> 0:21:15.199 politically can you with and Bloomberry Staron Grasso says this 0:21:15.280 --> 0:21:18.400 could become a major issue for the mid term elections. 0:21:18.600 --> 0:21:22.840 And turning overseas now, Karen French. President Emmanuel mccron's office 0:21:22.880 --> 0:21:27.240 says McCrone will speak today with Russian President Vladimir Putin 0:21:27.320 --> 0:21:30.480 by phone. It will be their first conversation since late March, 0:21:30.800 --> 0:21:34.960 while British Prime Minister Boris Johnson plans to address Ukraine's parliament. 0:21:35.400 --> 0:21:39.040 That's as the UK announces more military aid to Ukraine, 0:21:39.359 --> 0:21:41.399 and on Wall Street City Group says it is an 0:21:41.440 --> 0:21:45.600 active dialogue to sell its banking operations in Russia. Right, Nathan, 0:21:45.680 --> 0:21:48.000 Let's turn to the Fed now, which begins it's today 0:21:48.119 --> 0:21:51.480 policy meeting. Today, the Central Bank is widely expected to 0:21:51.600 --> 0:21:55.200 hike interest rates at tomorrow's decision, and Bloomberry Shahn Tucker 0:21:55.400 --> 0:21:58.440 joins us live with the latest. Good morning, John Karen. 0:21:58.520 --> 0:22:01.520 The Central Banks at the hike half a percentage point. 0:22:01.840 --> 0:22:05.200 What happens after that is highly uncertain. Bloomberg Economics says, 0:22:05.560 --> 0:22:09.760 recently we have seen glimmers of disinflationary forces working through 0:22:09.760 --> 0:22:12.439 the economy, and if they accelerate, we could see the 0:22:12.440 --> 0:22:16.240 Fed making only a few more measured hikes. Tomorrow's guidance 0:22:16.280 --> 0:22:18.840 from chair J. Powe will be key for global rates. 0:22:19.200 --> 0:22:21.960 Live in New York, I'm John Tucker, Bloomberg Daybreak, John, 0:22:22.040 --> 0:22:25.600 Thanks in New York this morning. A labor victory for Amazon. 0:22:25.720 --> 0:22:27.919 Let's get the latest on that. Live from Bloomberg's You 0:22:27.960 --> 0:22:30.280 Need a Young Good morning, Good morning, Nathan. Workers at 0:22:30.280 --> 0:22:33.359 a Staten Island Amazon facility voted not to join an 0:22:33.440 --> 0:22:36.680 upstart union, just weeks after the group won a resounding 0:22:36.800 --> 0:22:39.920 victory had a warehouse across the street. In its most 0:22:40.000 --> 0:22:44.440 recent election, the Amazon labor union got just three yes 0:22:44.520 --> 0:22:48.080 votes to six hundred and eighteen knows. It's welcome news 0:22:48.160 --> 0:22:52.360 for Amazon, which just reported slowed online sales and acknowledged 0:22:52.400 --> 0:22:55.440 it has too many workers. Live in New York. I'm 0:22:55.480 --> 0:22:58.159 Ranita Young Bloomberg daybreak. All right, rand to thank you, 0:22:58.240 --> 0:23:02.560 and futures this morning are now moving lower. SNP futures 0:23:02.600 --> 0:23:06.880 down fourteen points now futures down one ten and NASDAG 0:23:06.960 --> 0:23:10.440 futures down fifty ten year treasury up one thirty second 0:23:10.520 --> 0:23:13.080 yeld two point nine seven percent, and they yield on 0:23:13.119 --> 0:23:16.440 the two year two point seven six percent. Ninemex screwed 0:23:16.480 --> 0:23:19.000