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Speaker 1: It's five oh seven on Wall Street where fifty six

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Speaker 1: degrees in Central Park. Of course, we're really following subway

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Speaker 1: traffic as the search goes on for the shooter in Brooklyn.

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Speaker 1: Michael Barr is back with us with more on that

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Speaker 1: and what else is happening in New York. Michael's Good morning,

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Speaker 1: Good morning, Nathan. Reaction and information continue from yesterday's mass

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Speaker 1: shooting on a Brooklyn subway. They had left ten people shot.

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Speaker 1: This man was one of the victims. You see like

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Speaker 1: a smoke, black smoke bomb going off and then and

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Speaker 1: then people bomb rushing to the back. This pregnant woman

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Speaker 1: was in front of me. I was trying a helper.

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Speaker 1: I didn't know they were shots at first. I just

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Speaker 1: thought it was a black smoke bomb. New York City

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Speaker 1: Police Commissioner Keeachin Sewell the suspect is a dark skinned

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Speaker 1: male and was wearing a neon orange vest and a

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Speaker 1: gray colored sweatshirt. We do have a person of interest

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Speaker 1: in this investigation. Commissioner Sewell says he has identified as

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Speaker 1: sixty two year old Frank James. A motive remains unclear.

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Speaker 1: New York City Mayor Eric Adams says the city is

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Speaker 1: working to ensure the safety of subway writers. Immediately, We're

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Speaker 1: going to double down on our patrol strinth. If I

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Speaker 1: was not here coming from COVID, I would be on

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Speaker 1: that subway system today because I think I said, Mayor,

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Speaker 1: you have to leave from the front. Adams will speak

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Speaker 1: to Bloomberg at am All Street time. New York Governor

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Speaker 1: Kathy hokel agrees with many of Adams and calling for

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Speaker 1: an end to gun violence. The last time there was

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Speaker 1: a mess shooting on our subway system, I believe, so

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Speaker 1: I don't want to act as if treated to a

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Speaker 1: normal experience on our subway. This is a rarity, but

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Speaker 1: one instant like this is one too many. President Biden

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Speaker 1: echoed what Governor Hocal said, Joe and I and my

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Speaker 1: wife Jill and I are praying for those who are

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Speaker 1: injured in all those touched by that trauma. We're grateful

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Speaker 1: for all the first responders who jumped into action, including

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Speaker 1: Suvenians suvenions who didn't hesitate to healthy fellow passenger and

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Speaker 1: try to shoot them. President Biden's as his team has

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Speaker 1: been in touch with the Mayor, Adams, the NYPD, the

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Speaker 1: Department of Justice, and the f behind the investigation. New

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Speaker 1: York Lieutenant Governor Brian Benjamin has been resigned and the

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Speaker 1: wake of his arrest in a federal corruption investigation. Benjamin,

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Speaker 1: a Democrat, was accused in an indictment of participating in

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Speaker 1: the scheme to obtain campaign contributions from a real estate

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Speaker 1: developer when he was a state senator. British opposition politicians

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Speaker 1: are again calling on UK Prime Minister Boris Johnson to resign.

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Speaker 1: Police are finding the Prime Minister for breaking his own

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Speaker 1: lockdown laws. On COVID Global News twenty four hours a

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Speaker 1: day on air and on Bloomberg Quick Take, powered by

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Speaker 1: more than twenty seven hundred journalists analysts more than a

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Speaker 1: hundred twenty countries. I'm Michael Barr. This is Bloomberg Nathan time. Michael,

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Speaker 1: thank you almost five ten of all street time for

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Speaker 1: the Bloomberg Sports I think one', John stash Our Lord

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Speaker 1: and Nathan on what was obviously a very harrowing morning

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Speaker 1: in Brooklyn. The day ended with an NBA play in

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Speaker 1: game at the Barkleys Center and a victory for the Nets.

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Speaker 1: Reabout affected Lewis Trow's got it again out to Irving Left. Wait,

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Speaker 1: here's the three YT's go the Kyrie. He still hasn't missed. Hey, Cleveland,

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Speaker 1: need's a time out. It's match their largest lead in

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Speaker 1: the game, gets sixty seven of the Cat's forty seven.

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Speaker 1: Kyrie is ten for ten. Had to call Kyrie Irby,

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Speaker 1: we're going to make his first twelve shots. He scored

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Speaker 1: thirty four points. Kevin Duran had twenty five nets. Never

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Speaker 1: trailed being Cleveland one one oh eight and now it's

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Speaker 1: on the Boston. Game one of the playoff series with

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Speaker 1: the Celtics. Sunday afternoon. Minnesota won the playing game in

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Speaker 1: the West over the Hilly Cliffords the Rangers at the Garden.

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Speaker 1: We're hoping to knock offf Carolina move into a time

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Speaker 1: for first and the Metropolitan Division. Didn't happen. Hurricanes with

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Speaker 1: three in the third, one four two and now lead

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Speaker 1: by four points. Chris Cryder did score a late goal

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Speaker 1: for the Rangers, became the fourth and team history to

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Speaker 1: score fifty in season. Islanders beat the Penguins by four.

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Speaker 1: Devils won six to in Arizona. Shutout wins for the

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Speaker 1: Mets and Yankees. The Mets to nothing in Philadelphia as

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Speaker 1: Tyler and McGill turned in his second brilliant Auty McGillis

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Speaker 1: two and oh as yet to lower run and over

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Speaker 1: at tendings on the mound at the stadium. Yankees over

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Speaker 1: Toronto for not being Estra Courtis didn't finish the fifth inting,

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Speaker 1: so we couldn't get credit for the wind, but he

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Speaker 1: was outstanding. Followed by four relievers together, Yankee pitchers allowed

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Speaker 1: only five hits struck out Tenna did not welcome batter

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Speaker 1: Aaron Hickson a two run homer. Garrett Cole starts tonight.

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Speaker 1: Ma back Scherzer will be on the mount of the

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Speaker 1: day game for the Mets in Phillip Johns dash that

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Speaker 1: Bloomberg's Oh, that'll be fun. Thanks John red Headline cross

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Speaker 1: the Bloomberg terminal moments to go, Perhaps a vote of

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Speaker 1: confidence for the return to office. Google plans to invest

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Speaker 1: nine and a half billion dollars US offices and data

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Speaker 1: centers in two and also plans to create at least

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Speaker 1: twelve thousand new full time jobs by the end of

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Speaker 1: the year. You're listening to Bloomberg daybreak Bloomberg eleven three

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Speaker 1: oh Weather turning mostly cloudy with a high near seventy today,

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Speaker 1: scattered showers chance for late day, thunderstorm tomorrow, highs near eighty.

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Speaker 1: We'll be back in the mid sixties, mostly sunny by Friday.

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Speaker 1: Right now fifty six in Central Park markets, headlines and

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Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,

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Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's

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Speaker 1: a Bloomberg Business Flash and I'm Karen Moscow and us

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Speaker 1: knock Index. Future is moving higher this morning. Bonds are

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Speaker 1: falling as investors way inflation risks against the start of

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Speaker 1: the earning season. Check the markets every fifteen minutes throughout

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Speaker 1: the trading day. On Bloomberg U S and P Future

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Speaker 1: is up twenty seven points down Future is up a

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Speaker 1: hundred seventy two and NASDAG Future is up a hundred fifteen.

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Speaker 1: The decks in Germany's down four tenths of Upper set ten.

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Speaker 1: Your Treasury down n thirty seconds held two point seven

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Speaker 1: five percent. They yield on the two year two point

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Speaker 1: four one percent. Nim X screwde oil is up four

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Speaker 1: tenths percent, or thirty eight cents at a hundred dollars

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Speaker 1: and ninety nine cents of barrel comex School There's up

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Speaker 1: a tenth of Upper cent or two dollars fifty cents

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Speaker 1: in nineteen seventy eight sixty an ounce the euro one

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Speaker 1: point eight to nine against the dollar British pound one

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Speaker 1: point three zero zero two and they get at one

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Speaker 1: twenty six point one seven. Bitcoin is higher up on

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Speaker 1: and a half percent at forty thousand, one d twenty dollars.

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Speaker 1: And today we're looking for another report on inflation with

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Speaker 1: the producer price. And next Saturday thirty Wall Street Time, JP,

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Speaker 1: Morgan Chase, black Rock and Delta I'M companies schedule to

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Speaker 1: report earnings today. That's a Bloomberg business flash. Now here's

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Speaker 1: Michael Barrow with Moore on what's going on around the world. Muchael,

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Speaker 1: good morning, Good morning Karen. The Biden administration is preparing

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Speaker 1: a military assistance package of roughly seven hundred fifty million

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Speaker 1: dollars for Ukraine and his battles against Russian invaders. People

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Speaker 1: familiar with the matter said the types of weapons and

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Speaker 1: the package are still being discussed. The New York City

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Speaker 1: Police say the gunmen in yesterday's subway shooting in Brooklyn

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Speaker 1: is still on the loose. Police are looking for a

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Speaker 1: person of interest in the NBA. The NETS beat the

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Speaker 1: Calves in the Eastern Conference, playing an opener. Brooklyn now

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Speaker 1: faces the Celtics on Sunday. In MLB, the Yankees Mets

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Speaker 1: Red Sox one. The Giants also one and made history.

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Speaker 1: Lissa Nakin became the first female coach on the field

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Speaker 1: and the regular season game after the original first base

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Speaker 1: coach was ejected. The Nationals Orioles and As lost in

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Speaker 1: the NHL, the Islanders wanting to shootout with the Penguins

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Speaker 1: five four, the Rangers lost, Devils and Capitals one. Global

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Speaker 1: News twenty four hours a day on here and on

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Speaker 1: Bloomberg Quicktake, powered by more than twenty seven hundred journalists

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

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Speaker 1: bar this is Bloomberg. Alright, Michael, thank you. It is

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Speaker 1: uh five nineteen on Wall Street, Live from the Bloomberg

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Speaker 1: Intractive Brokers Studios. This is Bloomberg Daybreak. We want to

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Speaker 1: go right now to Gregg Valier, chief US policy strategist

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Speaker 1: at a GF Investments. Lots to get to with you,

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Speaker 1: Greg this morning, not the least of which is a

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Speaker 1: subway attack in Brooklyn. The search still ongoing for the suspect.

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Speaker 1: We're actually gonna be speaking with New York City Mayor

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Speaker 1: Eric Adams on Bloomberg Radio and Television later on this morning.

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Speaker 1: Is there a political dimension to this attack given the

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Speaker 1: rise in violent crime we've seen in many cities and

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Speaker 1: Congress seem le uh having difficulties acting on violent crime. Yeah,

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Speaker 1: I think it's a factor. Nathan, Good morning. I think

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Speaker 1: that everything, of course in Washington is politicized. That's the

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Speaker 1: nature of this city. And with crime statistics looking really

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Speaker 1: horrible in New York City, crime statistics getting worse, it's

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Speaker 1: a political factor. I mean, Biden has a lot to

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Speaker 1: worry about, illegal immigration Ukraine Hunter. Biden a long, long

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Speaker 1: list of things to him to be concerned about, and

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Speaker 1: I would have to say crime is high on the list.

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Speaker 1: How would you expect President Biden to react to this

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Speaker 1: incident in New York City? We had the announcement just

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Speaker 1: this week on ghost guns. Is there more that the

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Speaker 1: President can or should be doing to respond to this?

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Speaker 1: There's not a lot. But at the same time, he

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Speaker 1: has to refute the idea that Democrats are soft on crime,

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Speaker 1: wanted to fund the police. That's not really quite fair.

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Speaker 1: Not the politics is ever fair, But I don't think

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Speaker 1: Biden has ever embraced defund the police. He's got to

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Speaker 1: make a stronger case that he wants to spend more

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Speaker 1: fun police. And we've seen a strong statement, certainly the

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Speaker 1: strongest yet from President Biden when it comes to the

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Speaker 1: war in Ukraine now labeling Russia's actions, particularly in northern

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Speaker 1: Ukraine a genocide. Why the shift, Well, the facts. I mean,

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Speaker 1: they're finding so many bodies, people who have been tortured

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Speaker 1: and killed. I mean, just when you think this couldn't

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Speaker 1: get any more depressing, you hear Putin yesterday totally rejecting

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Speaker 1: any any possibility of negotiation, saying he's going to fight

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Speaker 1: on and you see these these atrocities continuing. I do

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Speaker 1: worry that the next phase that's now beginning on flat

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Speaker 1: ground is different from a phase that would be guerilla

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Speaker 1: warfare in the hills. And I do think the next

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Speaker 1: couple of weeks could be uh unnerving for the rest

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Speaker 1: of the world seeing the Russian troops continue to advance. Yeah,

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Speaker 1: certainly the images out of Bouscha at other cities in

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Speaker 1: northern Ukraine have been horrifying, and now we have these

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Speaker 1: unverified claims of chemical potential strikes in Mariopol. But the

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Speaker 1: President in the past has been reticent to use the

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Speaker 1: word genocide. He's called it war crimes. Is this a

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Speaker 1: label that the White House is going to back up.

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Speaker 1: I think they're gonna send a lot more sophisticated arms, Nathan.

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Speaker 1: I think there will be even tougher sanctions. But it's

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Speaker 1: it's awfully hard to see how that's gonna stop a

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Speaker 1: Russian advanced The idea that the US could retaliate with

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Speaker 1: chemical weapons or even send troops into Ukraine is out

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Speaker 1: of the question. I don't see that happening. Well, what

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Speaker 1: kind of military assistance do you expect that we will

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Speaker 1: see from the White House and the Pentagon. We've heard

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Speaker 1: reports that there's gonna be another surge of seven fifty

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Speaker 1: million dollars in equipment, but we've all heard from President

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Speaker 1: Zelinski what he's really looking for, what he has been

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Speaker 1: looking for for weeks now. Is it no fly zone

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Speaker 1: at least fighter jets. Do you think it goes to

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Speaker 1: that point? Fighter jets? Maybe no fly zone I think

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Speaker 1: would be really provocative. I wouldn't see that. Also, I'd

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Speaker 1: like to see that some of our allies talk a

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Speaker 1: little tougher or do things tougher Germany in particular, good

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Speaker 1: story on that and this morning's New York Times. In

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Speaker 1: countries like India or even Israel that haven't shown the

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Speaker 1: support one would expect, got about thirty seconds left here, Greg.

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Speaker 1: We're expecting the presidents of Poland and the three Baltic

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Speaker 1: states to go to Key of today, and we have,

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Speaker 1: of course saw last weekend UK Prime Minister Boris Johnson

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Speaker 1: head to the Ukraine capital as well. Do you think

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Speaker 1: President Biden is or should go there at some point?

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Speaker 1: He might. I don't think he's there yet, but looking

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Speaker 1: out over the next few weeks, one of the big

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Speaker 1: wild cards is much more blatant involvement by NATO. As always,

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Speaker 1: Greg value great to get your insights. Thanks again for

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Speaker 1: being with us, Greg Valuers, chief US policy strategist at

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Speaker 1: a GF Investments. Right now, SMP futures are higher by

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Speaker 1: twenty five point staff futures up a hundred sixty eight,

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Speaker 1: NASTACK futures on the rise by a hundred nine points ten.

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Speaker 1: Your treasuries down ten thirty seconds with a yield two

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Speaker 1: point seven five almost two point seven six percent. The

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Speaker 1: yield on the two year right now two point four

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Speaker 1: one percent looking at nimex screwed back up a hundred

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Speaker 1: dollars a barrel. Above that, up a quarter percent, up

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Speaker 1: twenty five cents at a hundred dollars eighty four cents

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Speaker 1: a barrel. Stay with us. You're listening to Bloomberg day Break.

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Speaker 1: Bloomberg day Break brought to you by New Jersey Institute

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Speaker 1: at n j I, T dot E d U broadcasting

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Speaker 1: live from the Bloomberg Interactive Brokery Studio in New York,

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Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg nine

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Speaker 1: team and around the globe the Bloomberg business in Bloomberg

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Speaker 1: Radio dot com. This is Bloomberg Daybreak. It's five thirty

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Speaker 1: on Wall Street. Good morning. I'm Nathan Hagar and I'm

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Speaker 1: Karen Moscow. Are just about four hours away from the

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Speaker 1: open of US trading. Let's get you have to date

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Speaker 1: in the news you need to know at this hour.

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Speaker 1: The New York City Police Department has identified a person

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Speaker 1: of interest in yesterday's subway shooting. Ten people were wounded

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Speaker 1: and thirteen were injured in the attack, and YPD Chief

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Speaker 1: James essex As officials are looking for sixty two year

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Speaker 1: old Frank and James. We are endeavoring to locate him

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Speaker 1: to determine his connection to the subway shooting if any.

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Speaker 1: Chief Essay says James is a person of interest in

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Speaker 1: the incident. More in the manhunt coming up shortly in

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Speaker 1: local news. Meantime, in Washington, Carr in the US is

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Speaker 1: preparing to send roughly seven hundred fifty million dollars in

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Speaker 1: new military aid to Ukraine as it battles Russia. President

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Speaker 1: Biden has some strong words for Russian President Vladimir Putin.

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Speaker 1: Bloomberg said, Baxter has the latest. This is the first

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Speaker 1: clear declaration without equivocation. I'd call the genocide because it's

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Speaker 1: become clearer and clear. But prudeness is trying to wipe

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Speaker 1: out the idea of hedn't be able to be in

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Speaker 1: Ukrainian and says it affects the rest of the free

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Speaker 1: world in a number of different ways. Your family budget,

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Speaker 1: your ability to fill up your tank. None of us

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Speaker 1: should hinge on whether a dictator Declaire's war commits genocide

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Speaker 1: half the world away, the use of the words showing

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Speaker 1: a major shift in verbiage. In San Francisco, I'm at

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Speaker 1: Baxter Bloomberg daybreak, All right, thank you. Turning to the

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Speaker 1: economy now, the Fed's keeping a close eye on inflation.

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Speaker 1: As a couple of central bankers speak out about interest

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Speaker 1: to rate. We get the latest life from Bloomberg's Ready

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Speaker 1: to Young Good Morning, Ready to Good Morning, Karen's Lewis.

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Speaker 1: FED President Jim Bullard tells the Financial Times that US

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Speaker 1: monetary policy needs to be tightened to a point that

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Speaker 1: it curtails economic growth or policy makers will risk their credibility.

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Speaker 1: He supports a half a percentage point increase next month

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Speaker 1: and says the rate should move up sharply after that.

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Speaker 1: Richmond FED President Thomas Barkin says the Central Bank should

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Speaker 1: raised interest rates to the neutral range as quickly as possible,

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Speaker 1: and can move above that price if pressures continue. Live

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Speaker 1: in New York, I'm gonna need a Young Bloomberg day

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Speaker 1: Thanks on Wall Street Today, JP Morgan releases first quarter earnings.

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Speaker 1: Bloomberg's Lisa Matteo has a preview. JP Morgan's performance will

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Speaker 1: offer a first look at banking fees for the second quarter.

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Speaker 1: Bloomberg Intelligence expects loan should be a strength, while seasonal

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Speaker 1: weakness will likely drag on the credit card business. Will

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Speaker 1: also be watching for JP Morgan's comments on client demand

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Speaker 1: plus full year loan growth targets and economic risks, and

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Speaker 1: he remarks from Jamie Diamond are short of garner attention

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Speaker 1: that JP Morgan CEO will likely be asked about geopolitical

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Speaker 1: risk and monetary policy the company's conference call in New York.

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Speaker 1: I'm Lisa Matteio Bloomberg Daybreak. At least thank you, SMP

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Speaker 1: Future is a twenty five points this morning and straight

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Speaker 1: to hand your latest local headlines plus the check of sports.

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Speaker 1: And this is Bloomberg. All right, Karen, Thanks, It's on

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Speaker 1: Wall Street, fifty five degrees in Central Park. We got

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Speaker 1: a truck fire. He's found seventy eight Express lanes at

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Speaker 1: exit forty nine and union details coming up in traffic. First,

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Speaker 1: let's get the latest on the man hunt and more

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Speaker 1: than what's going on in New York and around the world.

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Speaker 1: Here's Michael bar Good morning, Michael, Good morning, Nathan. Police

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Speaker 1: continued to search for the gunmen who opened fire on

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Speaker 1: a subway train in Brooklyn Tuesday mornings. Attack left ten

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Speaker 1: people wounded by gunfire. In yp D Chief of Detectives

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Speaker 1: James brandishes a Glock nine millimeter handgun. He then fired

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Speaker 1: that weapon at least thirty three times, striking ten people.

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Speaker 1: Chief Essex says the search is focused partly on man

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Speaker 1: said to have rented a van possibly connected to the violence.

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Speaker 1: Investigators stress they weren't sure whether the man, Frank James,

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Speaker 1: was responsible for the shooting, but authorities say of the

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Speaker 1: sixty two year old is a person of interest. Victims

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Speaker 1: from yesterday's shooting on the Brooklyn subway are talking. This

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Speaker 1: man says he was trying to help a pregnant woman

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Speaker 1: after smoke bombs went off. She said, I'm pregnant with

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Speaker 1: a baby. I hugged her and then the bomb. Marsh continued,

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Speaker 1: I got pushed and that's when it got shot on

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Speaker 1: the back of the my knee. New York Mayor Eric Adams,

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Speaker 1: we're telling anyone that's approaching anyone that they believe is suspicious,

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Speaker 1: so notified the police department, but at this time the

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Speaker 1: person is not apprehended. There's no reason for us to

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Speaker 1: believe that he's not still on are Adams will speak

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Speaker 1: with Bloomberg later this morning, starting at eight thirty am

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Speaker 1: Wall Street Time. New York Governor Kathy Oakel says this

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Speaker 1: gun violence has to end now. It has to end.

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Speaker 1: It ends now, and we are sick and tired of

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Speaker 1: reading headlines about front. Governor Huco visited the hospital where

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Speaker 1: some of the victims were admitted. New York Lieutenant Governor

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Speaker 1: Brian Benjamin resigned from office after being charged with funneling

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Speaker 1: illicit donations to one of his past campaigns when he

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Speaker 1: was a state senator. British opposition politicians are calling on

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Speaker 1: Boris Johnson to resign after it was revealed the police

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Speaker 1: are finding the Prime Minister for breaking his own lockdown laws.

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Speaker 1: Over COVID and sad news. In the comedy world, we've

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Speaker 1: lost Gilbert Gottfried. He got yesterday at age sixty seven.

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

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

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Speaker 1: hundred journalist and analyists. More than a hundred twenty countries.

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Speaker 1: I'm Michael bar This is Bloomberg Nathan. Okay, Michael, thank

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Speaker 1: you on Wall Street. Time for the Bloomberg Sports Update

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Speaker 1: with John Stasher. All right, if we're talking about a

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Speaker 1: busy sports night in the Big Apple, Rangers were at

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Speaker 1: the Garden, Nets played in Brooklyn, Yankees in the Bronze

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Speaker 1: Islanders were home as well. The next through the new

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Speaker 1: NBA play in system, at a winning game to gain

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Speaker 1: entry of the NBA Playoffs. They got it, although a

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Speaker 1: twenty two point leader was cut to six. Nets beat

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Speaker 1: the Calves one fifteen one away. Kyrie Irving scored thirty

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Speaker 1: four points against the team he used to play for,

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Speaker 1: and now he's going to face another team he used

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Speaker 1: to play for, Boston. I'm grateful to play against one

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Speaker 1: of the top teams in the Eastern Conference that have

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Speaker 1: been playing well all the year. It's it's another challenge

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Speaker 1: for us, another test um. But I think we've answered

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Speaker 1: a few questions towards the end of the season where

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Speaker 1: we were in the tenth spot and you know, all

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Speaker 1: of a sudden, one day later we were in the

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Speaker 1: seven spot, and we had the opportunity to win some

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Speaker 1: games in a row. Nets Celtics should be a great series.

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Speaker 1: The Celtics finished the season going twenty six and six.

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Speaker 1: Game one Sunday after in Boston, Minnesota beat the l

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Speaker 1: A Clippers in the West play in game losers last

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Speaker 1: night play again on Friday, Rangers lost the first place

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Speaker 1: Carolina for to two, but Chris Tryder did score a

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Speaker 1: late goal. He joins Vic Hatfield, Adam Graves and Yarmer

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Speaker 1: Yaga are only Rangers to score fifty goals in the season.

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Speaker 1: Islanders be Pittsburgh five four, The Devil's won six two

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Speaker 1: and ever is one of the Mets rotation already with

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Speaker 1: Matchers hopefully Jacob to grow on back from injury at

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Speaker 1: some point and Tyler Miguel two starts, two wins, yet

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Speaker 1: to allow a run. McGill and the Mets want to

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Speaker 1: nothing in Philadelphia. Home run for Brandon Nemo. Yankees also

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Speaker 1: with a shutout, Nestor Cortez and four relievers teaming up

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Speaker 1: for five hit or a four nothing shut out of

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Speaker 1: the Blue Jayson and Hicks. That's you run home, John

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Speaker 1: Stash went Bloomberg Sports Nap. Thank you John. It's thirty

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Speaker 1: seven on Wall Street. Time for the Tri State Business

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Speaker 1: report with Bloomberg's Ed Corey. More New York businesses may

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Speaker 1: be able to get a tax break after policy makers

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Speaker 1: agreed to make a technical fix and a budget deal

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Speaker 1: signed by Governor Kathy Hokel tucked inside the spending plan

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Speaker 1: is an adjustment to tax laws. It will allow more

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Speaker 1: New York residents to receive the full benefit of assault

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Speaker 1: cap workaround, sources tell Bloomberg. Facebook is adding more offices

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Speaker 1: in Manhattan. The company, known formally as Meta Platforms, will

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Speaker 1: take nearly three hundred thousand square feet at seven seventy Broadway.

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Speaker 1: It's a property near Astor Place where it already has space.

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Speaker 1: With a new lease, Face Spook will have nearly the

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Speaker 1: entire building. We'll get your golf butters out and party

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Speaker 1: hats ready. In June, London based Swingers will introduce New

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Speaker 1: York to its alcohol and music fueled mini golf experience,

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Speaker 1: which it calls Crazy Golf. The club's located below the

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Speaker 1: upcoming Virgin Hotel in Manhattan's increasingly busy Nomad neighborhood. That you,

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Speaker 1: Bloomberg crying, State Business Report, I'm Ed Corey crazy. Thank you, Ed.

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Speaker 1: It's five thirty eight on Wall Street. Bloomberg Radio is

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Speaker 1: on the air from San Francisco to New York, London

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Speaker 1: to Hong Kong. Let's check in with our global news

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Speaker 1: team for some of the top stories heard on our

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Speaker 1: three hundred affiliate radio stations around the world. I'm Steve

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Speaker 1: photo Scant on ten ten Wins in New York. We're

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Speaker 1: talking about how hybrid work plans close a big threat

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Speaker 1: to office landlords. I'm John Sucker for kaz r AG

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Speaker 1: in Houston. I'm reporting on a truck blockade at the

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Speaker 1: Mexican border. I'm Scott Carr w p M in Chicago.

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Speaker 1: I'm reporting on millions bore being invested in the Chicago's

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Speaker 1: software startup for Mayra Wanted Dispensary. I made gory on

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Speaker 1: w w J and Detroy time reporting. JEEP has announced

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Speaker 1: plans for figure versions of its Upscale Wagoneer and Grand Wagoneer.

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Speaker 1: If you leave those are some of the stories are

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Speaker 1: twenty seven hundred Bloomberg journalists and analysts are working on

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Speaker 1: this morning around the world. It's five thirty nine on

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Speaker 1: Wall Street. The following is an editorial from Bloomberg Opinion.

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Speaker 1: After resisting for decades, China may soon agree to let

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Speaker 1: American regulators see the audit work papers of Chinese companies

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Speaker 1: listed on US exchanges, potentially sparing those firms from being delisted.

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Speaker 1: While some Hawks would no doubt prefer to block all

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Speaker 1: Chinese companies from access to US financing, this climb down

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Speaker 1: should be welcomed. Having China played by the same rules

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Speaker 1: as everyone else would represent a victory for transparency and

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Speaker 1: would strengthen confidence in US markets. It would also slow

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Speaker 1: the loss of business to Chinese exchanges while giving US

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Speaker 1: investors greater opportunity to benefit from China's growth, and it

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Speaker 1: would be a win for China as well by allowing

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Speaker 1: Chinese companies continued access to crucial US markets. Friction in

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Speaker 1: the U S China relationship may be inevitable. That's all

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Speaker 1: the more reason for both sides disease on this opportunity

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Speaker 1: for cooperation. This editorial was written by the Bloomberg Opinion

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Speaker 1: editorial Board. I'm David Shipley. For more Bloomberg Opinion, please

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Speaker 1: go to Bloomberg dot com, slash opinion or opia and

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00:23:23,040 --> 00:23:26,520
Speaker 1: go on the Bloomberg terminal. These has been Bloomberg Opinion.

430
00:23:26,560 --> 00:23:29,680
Speaker 1: You can hear Bloomberg Opinion editorials every weekday. At this time,

431
00:23:29,800 --> 00:23:33,119
Speaker 1: terminal customers can read more at O P I, n GO,

432
00:23:33,960 --> 00:23:37,720
Speaker 1: SMP futures up eighteen points right now down futures up

433
00:23:37,720 --> 00:23:41,160
Speaker 1: a hundred twenty one, NASTAC futures higher by eighty two points.

434
00:23:41,520 --> 00:23:44,000
Speaker 1: The tenure treasury is down eight thirty seconds with a

435
00:23:44,080 --> 00:23:47,199
Speaker 1: yield two point seven five percent. Yield on the two

436
00:23:47,280 --> 00:23:50,199
Speaker 1: year right now two point four two percent as we

437
00:23:50,240 --> 00:23:54,240
Speaker 1: await the kickoff first quarter earning season from JP Morgan Chase.

438
00:23:54,720 --> 00:23:57,919
Speaker 1: Get a preview next with Bloomberg Shinali Bassik. This is

439
00:23:57,960 --> 00:24:04,639
Speaker 1: Bloomberg Blumber eleven three oh Weather becoming mostly cloudy with

440
00:24:04,640 --> 00:24:07,159
Speaker 1: a high near seventy today, scattered showers tomorrow, maybe a

441
00:24:07,200 --> 00:24:10,119
Speaker 1: late day thunderstorm, highs near eighty. We'll be back in

442
00:24:10,119 --> 00:24:13,080
Speaker 1: the mid sixties by Friday. Fifty five is the current

443
00:24:13,119 --> 00:24:19,760
Speaker 1: temperature in Central Park markets. Headlines and breaking news twenty

444
00:24:19,760 --> 00:24:22,600
Speaker 1: four hours a day at Bloomberg dot Com, The Bloomberg

445
00:24:22,640 --> 00:24:26,199
Speaker 1: Business atand at Bloomberg Quick Take. This is a Bloomberg

446
00:24:26,280 --> 00:24:35,160
Speaker 1: Business lash when I'm Cameron Moscow. US dot index future

447
00:24:35,240 --> 00:24:37,800
Speaker 1: is on the rise. Bonds are falling as investors way

448
00:24:37,840 --> 00:24:40,640
Speaker 1: inflation risks against the start of earning season. We checked

449
00:24:40,640 --> 00:24:43,480
Speaker 1: the markets every fifteen minutes throughout the trading day. On Bloomberg,

450
00:24:43,840 --> 00:24:46,639
Speaker 1: SNP futures up about eighteen polloids, death futures of a

451
00:24:46,720 --> 00:24:49,920
Speaker 1: hundred and sixteen NASDACK futures up seventy eight the decks

452
00:24:49,960 --> 00:24:52,560
Speaker 1: in Germany's down nine tenths of upper cent ten year

453
00:24:52,600 --> 00:24:55,840
Speaker 1: treasury down seven thirty seconds yield two point seven four percent.

454
00:24:55,920 --> 00:24:58,320
Speaker 1: They yield on the two year two point four two percent.

455
00:24:58,800 --> 00:25:01,040
Speaker 1: Not x screwed oil is up third of per cent,

456
00:25:01,080 --> 00:25:03,040
Speaker 1: or thirty three cents at a hundred dollars nine four

457
00:25:03,119 --> 00:25:05,840
Speaker 1: cents of barrel comic schoold is up three ten percent

458
00:25:05,920 --> 00:25:09,639
Speaker 1: or five dollars forty cents at sixty announced. The Euro

459
00:25:09,760 --> 00:25:12,200
Speaker 1: one point eight to eight against the dollar, British bound

460
00:25:12,200 --> 00:25:14,440
Speaker 1: one point to nine and nine nine, the un is

461
00:25:14,480 --> 00:25:17,840
Speaker 1: at one point one three, and Bitcoin this morning is

462
00:25:17,880 --> 00:25:21,040
Speaker 1: at one point four percent at forty thousand, one hundred dollars.

463
00:25:21,240 --> 00:25:23,760
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barrow with

464
00:25:23,840 --> 00:25:26,760
Speaker 1: more on what's going on around the world. Michael Karen,

465
00:25:26,800 --> 00:25:29,240
Speaker 1: thank you very much. The New York City Police Department

466
00:25:29,240 --> 00:25:33,200
Speaker 1: has identified a person of interest in yesterday's chaotic shooting

467
00:25:33,200 --> 00:25:37,159
Speaker 1: at a Brooklyn subway station that left twenty three people injured,

468
00:25:37,160 --> 00:25:41,879
Speaker 1: including ten shot. The shooter remains at large. NYPD Commissioner

469
00:25:41,960 --> 00:25:44,959
Speaker 1: keeaching Seoul. At this time, we still do not know

470
00:25:45,359 --> 00:25:49,040
Speaker 1: the suspects motivation. Commissioner Sewell says. Keys found at the

471
00:25:49,040 --> 00:25:51,480
Speaker 1: scene of the attack belonged to a U haul van

472
00:25:51,840 --> 00:25:55,760
Speaker 1: rented by sixty two year old Frank James. In the NBA,

473
00:25:55,920 --> 00:25:58,280
Speaker 1: the Nets be the Calves in the Eastern Conference play

474
00:25:58,320 --> 00:26:01,800
Speaker 1: an opener Brooklyn, Now face, there's the Celtics on Sunday.

475
00:26:01,800 --> 00:26:04,960
Speaker 1: In MLB, the Yankees, Men's Red Sox and Giants won

476
00:26:05,040 --> 00:26:08,040
Speaker 1: the Nationals Orioles and As lost. In the NHL, the

477
00:26:08,080 --> 00:26:10,919
Speaker 1: Islanders wanting to shootout with the Penguins five four, the

478
00:26:11,040 --> 00:26:14,720
Speaker 1: Rangers lost, the Devil's and Javenls won. Global News twenty

479
00:26:14,760 --> 00:26:17,640
Speaker 1: four hours a day on air and on Bloomberg Quick Take,

480
00:26:17,680 --> 00:26:21,119
Speaker 1: powered by more than journalists and analyists more than a

481
00:26:21,160 --> 00:26:24,840
Speaker 1: hundred twenty countries. Michael bar this is Bloomberg NA, all right, Michael, thanks,

482
00:26:24,880 --> 00:26:27,040
Speaker 1: just about five forty nine now on Wall Street Live

483
00:26:27,040 --> 00:26:30,200
Speaker 1: from the Bloomberg Interactive Broker Studios. This is Bloomberg Day

484
00:26:30,200 --> 00:26:32,080
Speaker 1: Break and is Karen mentioned we are getting set for

485
00:26:32,080 --> 00:26:34,680
Speaker 1: the kickoff at first quarter earning season. It must really

486
00:26:34,720 --> 00:26:38,800
Speaker 1: be here because Bloomberg Global Finance correspondent Shanelli Bassik is

487
00:26:38,840 --> 00:26:41,199
Speaker 1: with me here in the studio getting ready for the

488
00:26:41,320 --> 00:26:44,560
Speaker 1: first of the Big six Wall Street banks. JP Morgan

489
00:26:44,720 --> 00:26:47,440
Speaker 1: Chase to open up the first quarter books. Channelly, Great

490
00:26:47,440 --> 00:26:51,960
Speaker 1: to see you this morning. So there's so much volatility

491
00:26:52,160 --> 00:26:54,600
Speaker 1: in this market right now, and of course JP Morgan

492
00:26:54,720 --> 00:26:56,600
Speaker 1: is going to set the tone for what we see

493
00:26:56,600 --> 00:26:59,000
Speaker 1: from the rest of the Big six. What are you

494
00:26:59,040 --> 00:27:01,440
Speaker 1: really keeping an eye on? Well, Number one is Jamie

495
00:27:01,480 --> 00:27:04,879
Speaker 1: Diamonds outlook for the economy this year and how that

496
00:27:05,000 --> 00:27:08,080
Speaker 1: might impact operations. As we know, we know that costs

497
00:27:08,119 --> 00:27:09,960
Speaker 1: are going up at the banks, but what we have

498
00:27:10,119 --> 00:27:13,720
Speaker 1: not accounted for is our provisions for loan losses going

499
00:27:13,800 --> 00:27:16,399
Speaker 1: to come back because the economy might be in a

500
00:27:16,400 --> 00:27:19,320
Speaker 1: tougher space in the next year or even two years.

501
00:27:19,640 --> 00:27:22,960
Speaker 1: So while Jamie Diamond and JP Morgan said that reserve

502
00:27:23,040 --> 00:27:26,200
Speaker 1: releases were made really helping earnings last year, they may

503
00:27:26,240 --> 00:27:29,560
Speaker 1: start to get tighter on underwriting standards and if they

504
00:27:29,600 --> 00:27:32,920
Speaker 1: do that, then everybody does there's a big worry out

505
00:27:32,920 --> 00:27:35,560
Speaker 1: there about what underwriting standards will look like. And I'm

506
00:27:35,560 --> 00:27:39,120
Speaker 1: sure a lot of analysts, folks like yourself are watching

507
00:27:39,400 --> 00:27:42,280
Speaker 1: not just what's the deal, but where are the deals

508
00:27:42,440 --> 00:27:46,760
Speaker 1: right now because there's been quite a lot less m

509
00:27:46,800 --> 00:27:49,920
Speaker 1: and A activity than there was leading into this year. Yeah,

510
00:27:49,920 --> 00:27:53,240
Speaker 1: the overall corporate and investment banking business does not have

511
00:27:53,320 --> 00:27:56,000
Speaker 1: the same tail winds as it does did last year,

512
00:27:56,080 --> 00:27:58,720
Speaker 1: so trading is expected to go down. And remember JP

513
00:27:58,840 --> 00:28:01,919
Speaker 1: Morgan had an exposed sure to that commodities that nickel

514
00:28:01,960 --> 00:28:05,840
Speaker 1: trader uh that we saw really hit a lot of

515
00:28:05,880 --> 00:28:07,720
Speaker 1: trouble this year. So are they going to say anything

516
00:28:07,720 --> 00:28:13,520
Speaker 1: about nickel? What about inflation? Other commodities, Investment banking, advisory,

517
00:28:13,520 --> 00:28:16,480
Speaker 1: debt equity all down on the year, but their pipeline

518
00:28:16,480 --> 00:28:19,800
Speaker 1: will be important this month after the quarter ended. There's

519
00:28:20,119 --> 00:28:24,120
Speaker 1: about a hundred billion dollars worth of debt underwriting expected

520
00:28:24,200 --> 00:28:26,800
Speaker 1: in this month alone, so some of that could come back.

521
00:28:27,080 --> 00:28:29,119
Speaker 1: But when it comes to the trading, there's been so

522
00:28:29,200 --> 00:28:32,240
Speaker 1: much volatility, especially given all that's going on in the

523
00:28:32,280 --> 00:28:34,760
Speaker 1: war in Ukraine, a lot of ups and downs, particularly

524
00:28:34,760 --> 00:28:37,760
Speaker 1: in the stock market. Could we see a bit of

525
00:28:37,800 --> 00:28:41,600
Speaker 1: a tailwind there for the trading debt. That's a great

526
00:28:41,680 --> 00:28:45,360
Speaker 1: question because equity and debt underwriting are very closely linked

527
00:28:45,360 --> 00:28:47,680
Speaker 1: to underwriting. So if underwriting drops off, which we know

528
00:28:47,720 --> 00:28:50,880
Speaker 1: it has, it really does hurt equities. What's more is

529
00:28:50,880 --> 00:28:54,160
Speaker 1: that the volatility was so high in the quarter. Usually

530
00:28:54,240 --> 00:28:57,520
Speaker 1: high volatility means more trading, but this quarter tons of

531
00:28:57,520 --> 00:29:00,880
Speaker 1: hedge funds lost tons of money, and so the buy

532
00:29:01,000 --> 00:29:04,800
Speaker 1: side is not as robust coming into this quarter as

533
00:29:04,880 --> 00:29:08,480
Speaker 1: it was earlier last year when they were doing much better.

534
00:29:08,680 --> 00:29:12,920
Speaker 1: And thinking about the outlook, Chinale, obviously we're in a

535
00:29:12,960 --> 00:29:16,920
Speaker 1: FED tightening cycle right now. We're seeing interest rates already

536
00:29:17,360 --> 00:29:19,360
Speaker 1: going up to levels that we haven't seen in a

537
00:29:19,360 --> 00:29:23,560
Speaker 1: couple of years here. How could that potentially affect the

538
00:29:23,600 --> 00:29:25,840
Speaker 1: bottom line for jpmrek. Yeah, The thing is the net

539
00:29:25,880 --> 00:29:28,440
Speaker 1: interest income, the money they make off of loans. The

540
00:29:28,720 --> 00:29:31,240
Speaker 1: fact that that might rise is a very exciting thing

541
00:29:31,520 --> 00:29:34,840
Speaker 1: for most of the industry. However, the yield curve is

542
00:29:35,000 --> 00:29:38,960
Speaker 1: still very flat, and so banks you know, they lend long,

543
00:29:39,000 --> 00:29:41,680
Speaker 1: they borrow short. If they yield curve is still flat,

544
00:29:41,720 --> 00:29:44,880
Speaker 1: then the money they make from those loans will not

545
00:29:44,960 --> 00:29:47,280
Speaker 1: be as profitable as they otherwise would be. They gotta

546
00:29:47,320 --> 00:29:50,880
Speaker 1: wonder as well, what kind of demand we see for

547
00:29:51,040 --> 00:29:54,800
Speaker 1: loans when rates are starting to go up, and particularly

548
00:29:54,800 --> 00:29:57,959
Speaker 1: on the corporate side, a lot of companies are sitting

549
00:29:58,000 --> 00:30:01,400
Speaker 1: on huge piles of cash from all the stimulus we've

550
00:30:01,400 --> 00:30:03,920
Speaker 1: gotten during the pandemic. Yeah, that's a great question. What

551
00:30:04,120 --> 00:30:06,480
Speaker 1: is the demand for loans, especially as interest rates rise.

552
00:30:06,480 --> 00:30:09,160
Speaker 1: You saw so much mortgage refinancing that's really started to

553
00:30:09,200 --> 00:30:12,160
Speaker 1: taper off. And then also remember just prices of things

554
00:30:12,200 --> 00:30:14,920
Speaker 1: are higher. People don't want to borrow necessarily to make

555
00:30:15,040 --> 00:30:19,080
Speaker 1: big purchases right now. So there is a demand question

556
00:30:19,120 --> 00:30:22,520
Speaker 1: when it comes to loans, and also are these healthy loans.

557
00:30:22,720 --> 00:30:25,000
Speaker 1: When we saw the pandemic really take off, people started

558
00:30:25,040 --> 00:30:27,520
Speaker 1: to save money, people started to shore up their balance sheets.

559
00:30:27,680 --> 00:30:30,520
Speaker 1: But are people borrowing now because they're trying to stave

560
00:30:30,560 --> 00:30:33,520
Speaker 1: off inflation? Are they borrowing now because they need to

561
00:30:33,560 --> 00:30:37,720
Speaker 1: borrow to afford basic goods. That's a big question that

562
00:30:37,760 --> 00:30:39,600
Speaker 1: the banks are going to face. Yeah, it goes back

563
00:30:39,600 --> 00:30:41,960
Speaker 1: to the outlook, the health of the consumer, whether they're

564
00:30:41,960 --> 00:30:45,720
Speaker 1: feeling squeezed by all this inflation. Shinelli Basak Bloomberg Global

565
00:30:45,720 --> 00:30:48,680
Speaker 1: Finance corresponded with us getting ready for those JP Morgan

566
00:30:48,800 --> 00:30:53,360
Speaker 1: Chase earnings. Are expecting them sometime around seven am Wall

567
00:30:53,440 --> 00:30:56,360
Speaker 1: Street time. As those headlines cross, the Bloomberg terminal will

568
00:30:56,360 --> 00:31:00,320
Speaker 1: be bringing them right to you here on Bloomberg Radio. Karen,

569
00:31:00,640 --> 00:31:02,760
Speaker 1: all right, Nathan, thank you. It is five three on

570
00:31:02,800 --> 00:31:05,200
Speaker 1: Wall Straight time for the Bloomberg Law Report. We get

571
00:31:05,240 --> 00:31:08,040
Speaker 1: to the legal stories we're watching this morning from Bloomberg's

572
00:31:08,080 --> 00:31:15,160
Speaker 1: Jeff Bellinger. Nuclear Regulatory Commission staffers recommend that the agency

573
00:31:15,240 --> 00:31:19,360
Speaker 1: improve its environmental justice strategy to better define the outreach

574
00:31:19,400 --> 00:31:22,080
Speaker 1: to tribes and other communities that bear the brunt of

575
00:31:22,160 --> 00:31:26,120
Speaker 1: nuclear industry development. North Rumans Systems agreed to pay thirty

576
00:31:26,120 --> 00:31:28,680
Speaker 1: five million dollars to the government in connection with clean

577
00:31:28,760 --> 00:31:32,320
Speaker 1: up costs the former Naval Weapons Industrial Reserve plant in

578
00:31:32,360 --> 00:31:35,400
Speaker 1: New York. A Pennsylvania appeals court ruled that the state

579
00:31:35,480 --> 00:31:37,640
Speaker 1: does not have to prove that the cannabis and a

580
00:31:37,760 --> 00:31:41,680
Speaker 1: driver's bloodstream was non medical when prosecuting him for driving

581
00:31:41,760 --> 00:31:46,040
Speaker 1: under the influence. Bloomberg Law everything you need, all on

582
00:31:46,040 --> 00:31:51,520
Speaker 1: one legal research platform, including guidance analysis and Bloomberg market intelligence.

583
00:31:51,720 --> 00:31:55,360
Speaker 1: Find out more at Bloomberg Law dot com. Right, Jeff,

584
00:31:55,400 --> 00:31:58,120
Speaker 1: thank you. Another legal story we're watching a Texas district

585
00:31:58,160 --> 00:32:00,520
Speaker 1: attorney has dropped his murder prosecut o shoan of a

586
00:32:00,520 --> 00:32:03,640
Speaker 1: woman for allegedly causing the death of an individual by

587
00:32:03,680 --> 00:32:06,720
Speaker 1: a self induced abortion. The twenty six year old woman

588
00:32:06,760 --> 00:32:09,040
Speaker 1: was indicted on murder charges at the end of March

589
00:32:09,080 --> 00:32:11,680
Speaker 1: and spent three days in jail before being released on

590
00:32:11,720 --> 00:32:14,960
Speaker 1: a half million dollars bond. The district attorney admitted this

591
00:32:15,040 --> 00:32:17,800
Speaker 1: week that it was clear she could not be prosecuted

592
00:32:17,880 --> 00:32:21,400
Speaker 1: under Texas law, and a judge dismissed the charges. For more,

593
00:32:21,440 --> 00:32:24,320
Speaker 1: Bloomberg's jung Grassa speaks to Mary Ziegler, a professor at

594
00:32:24,320 --> 00:32:27,320
Speaker 1: the Florida State University College of Law and an expert

595
00:32:27,360 --> 00:32:30,920
Speaker 1: and reproductive rights. The Star County district attorney got a

596
00:32:30,960 --> 00:32:33,920
Speaker 1: grand jury to sign off on a murder indictment on

597
00:32:34,040 --> 00:32:37,520
Speaker 1: March thirty, but this week the district attorney admitted the

598
00:32:37,560 --> 00:32:40,600
Speaker 1: woman had not committed a crime and dropped the charges.

599
00:32:41,040 --> 00:32:44,000
Speaker 1: Do you have any understanding of why he charged her

600
00:32:44,040 --> 00:32:46,840
Speaker 1: in the first place. It's hard to say. I mean,

601
00:32:46,960 --> 00:32:51,400
Speaker 1: there's no legal explanation, obviously, because it's worth emphasizing right

602
00:32:51,480 --> 00:32:53,360
Speaker 1: that it's not just the case that there was no

603
00:32:53,480 --> 00:32:58,360
Speaker 1: statute that authorized this prosecution. Texas pumicide law actually explicitly

604
00:32:58,480 --> 00:33:01,720
Speaker 1: spells out that you cannot then women for having abortion.

605
00:33:01,800 --> 00:33:04,560
Speaker 1: So this was a case where this was expressly prohibited

606
00:33:04,600 --> 00:33:06,960
Speaker 1: by law, not just that there was still a way

607
00:33:07,000 --> 00:33:10,720
Speaker 1: this was authorized. It was expressly prohibited. I think the

608
00:33:10,760 --> 00:33:12,760
Speaker 1: best way you can understand it is as part of

609
00:33:12,760 --> 00:33:16,200
Speaker 1: a kind of general fragmentation of authority in the anti

610
00:33:16,200 --> 00:33:20,120
Speaker 1: abortion movement and a kind of shift away from healing

611
00:33:20,200 --> 00:33:22,760
Speaker 1: limited by what the law is now, because I mean,

612
00:33:22,840 --> 00:33:26,120
Speaker 1: historically the anti aborsition movement would have had to work

613
00:33:26,160 --> 00:33:28,520
Speaker 1: within the confines of Roe v. Wade and would wait

614
00:33:28,600 --> 00:33:31,280
Speaker 1: until the Supreme Court said that it was changing the

615
00:33:31,400 --> 00:33:34,120
Speaker 1: rules before adjusting. And now, of course we within a

616
00:33:34,160 --> 00:33:38,120
Speaker 1: world where legislators routinely passed laws they know are unconstitutional.

617
00:33:38,160 --> 00:33:40,320
Speaker 1: Now because they no longer care about what the laws now,

618
00:33:40,360 --> 00:33:42,320
Speaker 1: they care about what they expect the Supreme Court will

619
00:33:42,360 --> 00:33:44,520
Speaker 1: do soon. And the only way I can understand what

620
00:33:44,600 --> 00:33:46,520
Speaker 1: happened in Texas is that's it's sort of part of

621
00:33:46,520 --> 00:33:49,520
Speaker 1: the same phenomenon right where prosecutors are saying that we're

622
00:33:49,640 --> 00:33:51,960
Speaker 1: going to act as if the law is the way

623
00:33:52,000 --> 00:33:53,880
Speaker 1: we wanted to be or act as if we can

624
00:33:53,920 --> 00:33:56,960
Speaker 1: predict what the law will be soon, rather than actually

625
00:33:57,360 --> 00:33:59,960
Speaker 1: paying attention to the rule of laws that currently stands.

626
00:34:00,400 --> 00:34:03,719
Speaker 1: The district attorney admitted she hadn't committed a crime. Only

627
00:34:03,800 --> 00:34:07,320
Speaker 1: after the case got national attention. She spent three days

628
00:34:07,360 --> 00:34:11,000
Speaker 1: in prison. Her name and mug shot have been published

629
00:34:11,080 --> 00:34:15,200
Speaker 1: across media nationwide. Is this a case for a malicious

630
00:34:15,280 --> 00:34:19,200
Speaker 1: prosecution lawsuit? I think there's definitely an argument for that, Yeah,

631
00:34:19,239 --> 00:34:23,680
Speaker 1: because it's really hard to see what basis there was

632
00:34:23,800 --> 00:34:26,520
Speaker 1: for this. So there's no good faith argument that you

633
00:34:26,560 --> 00:34:29,319
Speaker 1: can prosecute a woman in Texas for inducing her own

634
00:34:29,320 --> 00:34:32,840
Speaker 1: divortion at all, much less for murder. So I'm not

635
00:34:32,960 --> 00:34:36,359
Speaker 1: a Texas expert particularly, but I mean all you need

636
00:34:36,400 --> 00:34:38,719
Speaker 1: to do is read texas As Homicide Statute to know

637
00:34:38,840 --> 00:34:41,160
Speaker 1: the answer to this. So, um, it would not be

638
00:34:41,200 --> 00:34:43,640
Speaker 1: a bad idea to establish that this was a malicious

639
00:34:43,640 --> 00:34:48,200
Speaker 1: prosecution so that people don't follow the same path. And

640
00:34:48,239 --> 00:34:51,200
Speaker 1: as Mary Ziegler, a professor at the Florida State University

641
00:34:51,239 --> 00:34:54,439
Speaker 1: College of Low speaking at the Bloomberg Student Grosso, it's

642
00:34:54,440 --> 00:34:57,400
Speaker 1: more of that interview plus analysis of the latest legal news.

643
00:34:57,600 --> 00:34:59,960
Speaker 1: By listening to the Bloomberg Law Show at ten pm

644
00:35:00,080 --> 00:35:03,319
Speaker 1: Eastern Time, or subscribing to the Bloomberg Law podcast, and

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Speaker 1: at Bloomberg Law dot com. Futures moving higher this morning,

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Speaker 1: with SMP futures of twelve points down, futures have A

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Speaker 1: eight and Nasdaq futures have fifty two ten. Your Treasury

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Speaker 1: down six thirties seconds, the l two point seven four

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Speaker 1: per cent, and straight ahead our top stories and check

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