Bloomberg Daybreak: April 4, 2022 - Hour 1 (Radio)

the Sacramento shooting. Plus Broadways McBath has been halted after Daniel Craig gets COVID, I like labar more ahead, I've stashower and sports easy win for the next shootout loss for the Rangers. South Carolina won the women's NC double

a the men late tonight. That's all straight Ahead on Bloomberg day Break on Bloomberg ELEMENTARYO, New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine Sixties, San Francisco, Sirius x M one nine Team, and around the World Old on Bloomberg Radio dot Com and via the Bloomberg business and good Monday morning. I'm Nathan Hagar and I'm Karen Moscow's and p Future are starting the

week little change. We're coming up to five on one on Wall Street, and we check the markets every fifteen minutes throughout the trading day. On Bloomberg again, SMP futures are a little change this morning. Dal Future is down fifty five and NASDAK futures are up fourteen and the decks in Germany is down four tenths of upper set. The tenure treasury is down one thirty second, the yel two point three eight percent. They yield on the two year two point four four percent. Nathan, all right, Karen,

we'll have more on the markets in a minute. First, the latest on the war. Negotiators from Russia and Ukraine may resume video talks today. Meantime, the US and Ukraine are calling on international courts to investigate potential war crimes in the cities around Kiev. Bloomberg's Ed Baxter has the details. Secretary of State Anthony B. Lincoln says the videos that Ukraine released are all arming. We can't become none to this,

we can't normalize this um. This is the reality of what's going on every single day, and through a translator, President Vladimir Zelenski says the investigation has to go further than ju Vladimir putting all the military commanders, everyone who gave instructions and orders should be punished. Zelenski says the atrocities go way beyond torture. In San Francisco, I'm at Baxter Bloomberg Daybreak, greaight, and thank you at The European

Union is also speaking out on the war. Some of you governments want to impose more sanctions following allegations of Russian war crimes. Be go live to London and get the latest from Bloomberg's You in pots Good Morning, You in Good Morning count and Nathan As Ukraine sites evidence of war crimes in the country's north. Bloomberg understands more European sanctions are being discussed. The European Commission is focusing on closing loopholes and strengthening existing actions such as export

controls on technology goods. Also on the table sanctioning banks already cut off from the with global payment system, and expanding the list of individuals facing sanctions. Live in London, I'm your Potspo make Daybreak. Okay you and thanks. Let's turn from the war now and focus on the economy. Here in the US, a new survey calls for a recession as soon as next year. Let's get the latest live from Bloomberg's Grenida Young. Good morning, Grinita, Good morning Nathan.

Close to half of financial professionals and retail investors see a US recession next year. That's according to results of our Bloomberg Markets Live weekly survey. Only fifteen percent, so it could happen this year. Pardon me, uh flag four and sixteen percent see a US recession waiting until twenty five or later. Just over half of the five twenty five respondents believe the inversion between two and ten year treasury yields is the most likely warning signal among yield

curve inversions. Live in New York. I'm Renita Young, Bloomberg day Break. A right, Granita, thank you, And how will the Fed respond to the current economic climate? We get some glue this week with the marks from several officials and here with Morris Bloomberg's Charley Pellet. Tomorrow, FED Governor Lele Brainerd takes part in a virtual discussion on the unequal impacts of inflation. It's hosted by the Minneapolis Fed.

On Wednesday, Philadelphia FED President Patrick Harker discusses the economic outlook. On Thursday, St. Louis FED President Jim Bullard will discuss the economy and military policy. Also Thursday, Raphael Bostick of the Atlanta Fed and Charlie Evans of the Chicago Fed will take part in an event on economic mobility and inclusive full employment in New York. Charlie Pellett Bloomberg Daybreak, Alright, Charlie, thank you. On Wall Street, it looks like there may

be more pain ahead for stocks. That's according to one prominent strategist. Bloomberg's John Tucker joins us Live with the details, John and Nathan. The recent run up of the n SMP five hundred was nothing more than a bear market rally that has run its course. That's according to Morgan Stanley strategist Mike Wilson. He thanks the index as a rough mouth ahead as it became more vulnerable to slowing economic growth. In a note to clients, Wilson's defensive stocks

remain the place to be. Morgan Stanley strategists are also more constructive on bonds than stocks over the New Yar term. They say thirty year treasuries offer an excellent hedge against the growth scare they expect from FED tightening. Lie to New York on John Tucker Bloomberg Daybreak, All right, John, thank you well. In pre market trading this morning, shares a TESLA of almost one percent. Over the weekend, The company said it delivered more than three hundred ten thousand

cars worldwide in the first quarter. That's a record and came in above analysts estimates. With the same timecar and shares of Starbucks are down one percent in early trading. Founder Howard Schultz is making moves as he returns to the CEO post, suspending a share buyback plan, saying the cash could be better spent on stores and staff. Shelt sixty eight years old. He's taking over from Kevin Johnson on an interim basis while Starbucks searches for a permanent CEO.

Stocks in Asia performed well over nine Nathan. That's after China made a conciliatory move that could remove a key hurdle, and it's fined with the US over auditing Chinese firms listed in New York. Let's you have the recap from Bloomberg's Juliette Sally and Singapore Good Morning, Juliette, Good Morning, Karen. The ms CI Asia Pacific Index gained after two sessions of losses, boosted by internet giants ten Cent and Ali Baba.

The Hang Sang Take Index gained more than four percent intra day after China modified a decade long rule that restricted financial data sharing by offshore listed firms. Japanese shares were fairly unchanged, while stocks jumped in India on a financial sector merger, and markets in mainland China and Taiwan were closed for holidays. In Singapore, Juliette Sally, Bloomberg Daybreak, Okay, juliet Thanks. Let's turning to politics in the region now

with a change on the way. In Hong Kong, chief executive Carrie Lamb says she will not run for a second term. Bloomberg Daybreak Asia anchor Brian Curtis has more. Lamb's announcement ends a tumultuous five years that saw Hong Kong become more isolated globally. I was due to a crackdown on pro democracy protests and rigid COVID nineteen restrictions. Lamb said she and four in Beijing last year that she would not run for a second five year term.

On May eight, Brian Curtis Bloomberg Day Break. Okay, Brian, thanks SMP futures right now up two point staff futures down twenty NASTAC futures up thirty four. The tenure Treasury yield two point three nine. Straight ahead, your latest local headlines and the check of sports. This is Bloomberg. That's five oh seven on Wall Street. Were forty degrees in Central Park already seeing an accident on the southbound Van Wick by the Nassau Expressway. Details coming up in traffic.

First Michael Barr with more on what's going on in New York and around the world. Good morning, Michael, Good morning, Nathan. President Biden says Congress must act on guns after the Sacramento shooting. Biden is calling for banning ghost guns, limiting gun manufacturer liability, immunity, and requiring background checks for all gun sales. Sacramento police say at least two shooters are at large after killing six people and wounding twelve others.

Early Sunday, Mayor Darryl Steinberg says it's past time to deal with gun violence. It is beyond time to have the same conversation about guns in America. We have a sickness. It's a sickness in our country, It's a sickness in our culture. Meyer Steinberg says, so far, there is no motive for the shooting. New York Mayor Eric Adams talked about the gun violence. Adam says he talked to the President about the issue over the weekend. We really have

to have a combination. We have to stop the flow of guns, but we must also do the job of getting it goes off the streets. That's only there now, and my anti gun unit they're doing that. Just a few weeks out, they removed over twenty something guns off the street. Adam spoke on CBS his Face the Nation,

which can be heard Sundays on Bloomberg. Jerry's selection is to begin today, and the sentencing trial of Parkland, Florida, school shooter Nicholas Cruz, jurors will decide whether they're sentencing him to death for murdering seventeen people in the eighteen massacre can take place. He confess to opening fire at

Marjorie's Stoneman Douglas high school and already pleaded guilty. US airlines are restoring service after bad weather and staffing issues contributed to more than thirty five hundred weekend flight cancelations. So far today, according to flight Aware, only about a hundred sixty two flights have been canceled. Daniel Craig's returned to Broadway in a new version of Macbeth has been temporarily halted after the actor contracted COVID. Nineteen performances are

canceled through Thursday. John Batiste took home Album of the Year on airs at last night's Grammys. Ukrainian President Voladimir z Lensky appeared in a video message during the show asking for support for the war in this country. Tell the truth about the war on your social matters on TV. Support us in any way. You can't anybody not silence and then peaceful gone. Zelenski made his plead during the

Grammys that were held in Las Vegas. Global News twenty four hours a day on air and on Bloomberg quick Take, powered by more than twenty seven under journalist and analysts more than a hundred twenty countries. Michael Barron, this is Bloomberg. Nathan I'm Michael. Thanks come up to five ten on Wall Street time for the Bloomberg Sports Update. Good going to John Stay Nathan Perennial College basketball Powers meet to night in New Orleans and the n C Double A Championship.

North Carolinas won the title six times Kansas three. That two teams met in the nineteen fifty seven final, Gatar Heels won fifty four to fifty three and tripled over time. South Carolina won the women's title in Minneapolis to forty nine over Yukon Gino Orima had been eleven and oh in championship games, I've been in the other locker room a lot of times, and so I know what that feels like. I can have been in this locker room,

and I know what that feels like. In one team is going to be National's champion in Yuro teams nine and I think they deserved. They were the best team all year. Second championship for the game Cops Rangers at the Guard against the Flyers, a team the Rangers should beat. They did not tell behind three, nothing tied the game of three and the third including goals twelve seconds apart. Philadelphia won four three on a shootout goal by ex

ranger Kevin Hayes. Islanders got a hat check from J. G. Pago. He had three goals early in the second period in the Aisles through the Devil's four to three easy win for the next one eighteen to eighty eight in Orlando, just the eighteenth ever trade between the Mets and Yankees, they swapped relievers met Gating, a lefty with the departure of Aaron Loup. They sent Miguel Castro to the Yanks

for Joe Ellie Rodriguez. Yankees also sent reliever for Albert Abreo to Texas for catcher Close Trevino Tiger, What's calls himself a game time decision, unsure whether he'll play the Masters, suffered serious injuries fourteen months ago in that car accident. Had said recently he was just happy to have his limbs intact. The Tiger recently played at eighteen whole practice round to AUGUSTA Masters begainst Thursday. Hourly reports throughout on Bloomberg, Ridwan,

John stash Allard Bloomberg Sports. Yes, indeed all right, John, thanks SMP futures right now at five point staff futures little change. Nanastack features up forty seven. The actions in the bond market once again this morning, with the ten year down three thirty seconds, the yield two point, yield on the two year two point four four and in

Urgin of five and a half paces points. This is Bloomberg Bloomberg eleven three oh Weather mostly sunny today, mid fifties for highs will be in the upper fifties, with some late day rain possible Tomorrow rain a nd by Wednesday afternoon with hies pack near fifty five currently forty

in Central Park markets. Headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape He's a Bloomberg business lash and I'm Karen Moscow songs in Europe and US dot Indis. Futures are higher as traders away the latest developments in the Ukraine War, with a new push for Stiffer's sanctions on Russia overshadowing the planned resumption of peace talks.

Check the markets every fifteen minutes throughout the trading day on Bloomberg Guess and P Futures are up six points down futures up seven. They're little changed and nownsday futures up fifty the decks in Germany as it will changed as well. Ten, your treasury down four thirty seconds. You have two point three nine per set yield on the two year two point four four percent NIMEX freude oil is it will change at n twenty six cents of barrel comes schoold is up four tens per cent or

eight dollars forty cents. In nineteen thirty two, ten announced the euro on point one zero two six against the dollar. British found one point three one two zero the ends at one twenty two point six two and Bitcoin this morning lower down nine tens of upper cent and forty five thousand, nine hundred sixty dollars. And we are looking for reports on factory orders and durable goods orders at at ten o'clock Wall Street time. That's a Bloomberg business flash.

Now here's Michael Barr with more on what's going on around the world. Michael, thank you very much. Karen. Both the US and Ukraine are calling on international courts to investigate potential war crimes in the city surrounding Key. President Biden is calling on Congress to act on guns after a mass shooting in Sacramento left six dead and twelve woom get South Carolina is captured did second national championship In the women's NZ Double A basketball tournament. The game

Cocks shut down yukon STY nine. The men's n C Double A tournament final is tonight between Kansas and North Carolina. In the NBA, the nixt one Celtics beat the Wizards on one oh two. The Warriors were also winners. In the NHL, the Islanders beat the Devil's for three. The Rangers lost in the shoot out to the Flyers for three. Global News twenty four hours a day on air and on Bloomberg Quittank, powered by more than twenty seven hundred

journalists and antalists more than a hundred twenty countries. Michael barn this is Bloomberg. Nathan Okay, Michael. Thanks, It's five nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and as we get ready to kick off the first full trading week of the second quarter, We're joined now by Lori Calvacina, head of US Equity Strategy at RBC Capital Markets. Lorie great as always to

speak with you. Obviously a lot of focus for investors on the war developments and the growth pros bects for this economy. We have the two tang yield curve in a pretty strong inversion here. How much stock do your analysts, at least on the equity side put on the inversion of the yield curve? Well, thanks for having me, as always, Look,

it's a great question. I actually asked my banks to this recently, and they're more focused on ten threes um and also frankly, you know, sort of looking across different sectors in different industries. I think our analysts tend to look at the preponderance of the evidence as opposed to

any one particular indicator. And as we've got you know, kind of gotten ready for this upcoming recording season, I think one of the things that's really on a lot of our analysts mind is just how strong the characterizations of demand has been. And so far there aren't really any of the occasions that that characteriation of characterization of demands his weekend. And it's very hard, you know, to sort of anticipate heading into a recession when the descriptions

of demand are so robust. So I think you know, our analysts are vigilant as m I um, but I think for now, the stock market has voted and the markets, you know, it's sort of acting like we are heading into a growth slow down as opposed to a recession. Well, we heard from Mike Wilson over Morgan Stanley saying that the bear market rally is he terms it is over, He's doubling down on a defensive bias. Is he calling

this wrong? Look? I think it is very hard to get excited about defensive sectors at this point in time, despite all the worries that we have, you know, sort of highly noness e equity investors. And one of the reasons is that when we look at our models, defensive sectors like healthcare, consumer staples, utilities are already quite over valued relative to the broader market. If you look at where valuation opportunity is emerging, it's more on the growth

side of the equation. So areas like consumer discretionary communication services, classic technology has seen valuation multiples really come in and picklical still look pretty cheap. So I understand, you know, sort of the impulse to kind of you know, kind of way into defensives here just given all the concern that are weighing on the market. From bottom US perspective,

it's very difficult. And I will also tell you you know, and I know I've talked about it on this program before, but if you look at the sentiment ages and particularly a AII met bull bears um, they have recently been the low levels um that were the pandemic loads. I mean, just think about that for a moment um. The sentiment has been so bad um that it was worse than

some of the days of the pandemic. And you know, I'm very mindful of that as we navigate this environment that a lot of the pressures in the market have already been baked in, and we don't really want to fall into that vicious for text of negativity on our side. They made some news late last week with your call

Elver at RBC two downgrade energy stocks. What was behind that, so, you know, thank thanks for Austin is it was a very very tough call on our parent and but we we do have this sense that market leadership is shifting away from value and back to growth, and we've been

thinking about this for quite some time. Last August we actually said we expected value to see a big surge and relative performance to start the year, but that by the time we got to make you we see the market leadership transition back to growth, and we've actually signaled recently we thought that transition was happening sooner. Um. You know, we've been overweight energy since January, and to be honest,

it still looks good on our valuation models. Our inservisions are very strong, but we know that value really only works when the economy is hot, running above average. Growth tends to outperform when the economy is running cool and my economists recently cut his forecast to two and a half percent for this year. Consensus is also looking for less than less than trend for next year, a ground two point three percent, So we know the economy is

cooling off. That naturally pushes leadership back towards growth. We also passed an important mile marker in the form of first said rate hype. Typically, growth leadership resumed after that. Value really worked ahead of the first hype. We had a decision to make what how we were going to take value exposure down. We surveyed our analysts and found that their conviction level on energy had simply come down

relative to where it had been. They're still constructive, but not nearly as constructive as they as they have been based on the quarterly survey that we do with them that we just completed last week. About thirty seconds left here, Laurie, But do you expect that rotation from value into growth to continue if the FED is more aggressive with rate hikes. If we see like fifty basis point increases at multiple meetings, you know, we think the FED is already priced in

from evaluation perspective. The economic damage that may happen from those types is not. So that's that's another question. It's something else we have to monitor. But we do think that the punchline from those hypes and that aggressive FED stance is cooling off economic growth, not necessarily tilting us into a recession, but the cool down on that economic growth is the fundamental catalyst that pushes the market back to growth. Thanks for this as always, Lorie, great having

you with us. Lori Calvacina, head of US Equity Strategy at RBC Capital Markets. Right now, SMP futures are up, but just by six points. Now Future is up five NASTAC futures are higher by forty eight points. That's the gain of a third or one percent. To tend your treasury is down three thirty seconds. The yield two point three nine yield on the two year is higher by almost six basis points at two point four or four percent on a two year Treasury note. This is Bloomberg

Bloomberg eleven three oh weathers mostly sunny today. Has your fifty five degrees late day rain possible tomorrow with a high near sixty. The rain will end by Wednesday afternoon with highs back in the mid fifties, currently forty in Central Park. Broadcasting live from the Bloomberg Interacted Broker Studio

in New York. Bloomberg E Living free on to Washington, d C. Bloomberg to Boston Bloomberg one O six one to San Francisco Bloomberg and M sixty to the country sirius XM chto one nine and around the globe the Bloomberg Business APT and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five thirty on Wall Street. Good morning, I'm Nathan Hager and I'm Karen Moscow or just about four hours away from the open of US trading. Let's get you up to date in the news you need

to know at this hour. Russia and Ukraine may resume video talks later today. Even as Kiev accuses Kremlin forces of carrying out atrocities, Russia is dismissing images of executed unarmed civilians is fake. Ukrainian President Vladimir Zolenski says the war is destroying his country. We couldn't have imagined anything like this, because this is a maniac type of decision to destroy the whole nation. Zelenski spoke through an interpreter to face the Nation on CBS. You can catch the

show every Sunday here on Bloomberg Radio. President Zelensky also made an appearance at the Grammys with a video message asking for more support our musicians where body armor instead of luxA. They seen to their wounded in hospitals, even to those who come fear them. But the music will break through anyway. Zelensky is accusing Russia of committing genocide

in Ukraine. Some of your governments are pushing to impose more sanctions following allegations of Russia in war crimes, Nathan, but there's no consensus he yet on a new sanctions package. Jamie diamonds, also calling for more sanctions on Russia. Karen. That came in his annual letter to shareholders, where the JP Morgan Chase CEO also says the Fed may raise rates higher than markets expect. Meantime, Nathan, a new survey

is calling for a recession next year. Let's get the latest line from Bloomberg's Real need a Young good morning, Good morning, Karen. Close to half of financial professionals and retail investors see a US recession next year. That's according to results of our Bloomberg Markets Live weekly survey. Only fifteen percent say it could happen this year, Flag four

at the most likely timing. Just over half of the five twenty five respondents believe the inversion between two and ten year treasury yields is the most likely warning signal among yield curve inversions. Live in New York. I'm really need a Young Bloomberg daybreak, all right, We need a thanks so there could be more paint ahead for stocks, according to one prominent Wall Street strategist, Bloomberg's John Tucker

Joe says, Live with that, John Morgan. Stanley's Mike Wilson says the current run up on the N S and P five hawd it was nothing more than a bear market rally that's run its course. He expects a rough month a hand for the index, telling investors to put their money into defensive stocks. And despite the pounding bonds have taken Morgan Stanley strategists are more constructive on bonds than stocks over the New York Term Live in New

York on John Tucker Bloomberg Daybreak. All right, John, thank you. N S and P futures are a little change this morning, so we're down futures, Nasday Futures up thirty seven straight ahead, your latest local headlines, plus the check of sports. And this is Bloomberg, Right, Karen, thank you. It's five thirty three on Wall Street with thirty nine degrees in Central Park. We've got an accident on the inbound upper level the George Washington Bridge. Details on the delays coming up in traffic.

First Michael Barr with more on what's going on in New York and around the world. Michael, thank you very much. Nathan. President Biden, it's calling on Congress to take action against gun crimes after six people were shot and killed early sun Day in downtown Sacramento, Police say three men and three women were fatally shot. Twelve others were wounded. Authorities say there were at least two shooters. Sacramento Mayor Darrel Steinberg says it's past time to deal with gun violence.

This sickness will be cured Sunday in this country or we will destroy ourselves in this country near Steinberg says a motive has not been offered. Meanwhile, New York Mayor Eric Adams says he spoke to President Biden over the weekend about gun violence. Adam says his crime Task Force has been out on the streets collecting illegal weapons. Sevent

those who were carrying guns had prior violent offenses. So we need to combine with that small number of people who are carrying guns with the large number of guns on a street and get both of us. Adams spoke on CBS his Face the Nation, which can be heard Sundays on Bloomberg. The Senate Judiciary Committee is set to vote today on confirming Judge Katangi Brown Jackson to the U. S. Supreme Court. Of full Senate vote is possible this week.

It looks like President Biden has the votes to get his nominee to the Supreme Court Judge Jackson would be the first black woman confirmed to the nation's highest court. Daniel Craig's returned to Broadway and a new version of Macbeth has been temporarily halted after the actor contracted COVID nineteen. Performances are canceled through Thursday. Craig Stars and a revival

of Williams Shakespeare's Tragedy. Other high profile shows on Broadway have had canceled shows due to their lead actors contracting the virus, including both The Music Man leads Hugh Jackman and Sutton Foster. John Battiste was the big winner at last night's Grammy Awards with five including Album of the Year. Silk Sonic took home Record of the Year. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven journalists analysts

more than twenty countries. Michael Barr, this is Bloomberg. Nathan alright, Michael, Thanks Ball Street. Time for the Bloomberg Sports Update with John stenshown to Nathan Kansas in North Carolina tonight in New Orleans to the n C Double A Championship. Jayox have won the title three times in their history, Carolina six times. Not expected to win this year, Tarios were an eight seed because they lost five games by more than sixteen points. They lost at home to lowly Pit.

But since that lost eleven and one, two wins over Duke and now Hubert Davis, the ex Nick has a chance to make history win a championship as a rookie head coach. I'm thinking about, are these kids, these players, and I told them that, Um, how happy I am did I get a front row seat just to be able to for them to go through this season and go through these experiences. It's a blessing for me. It's a privilege, it's an honor. Those are the things that

I'm thinking about. Technically, Steve Fisher won a title with Michigan in his first year, but he was an interim coach of just taking over the teams. Women's championship in Minneapolis won easily by South Carolina sixty nine over you. On final week for the next playing out the String easy win by thirty in Orlando. R J. Barrett scored twenty seven at the Garden Rangers Trail Philadelphia three nothing,

rallied to tie Nika's advantage. At a new Ranger. Andrew cop scored twelve seconds apart for the Flyers, one for three in a shootout. Islanders beat the Devil's also four three hat trick for j. G. Pezo. Islsa won four in a row, still eleven points out for a playoff spot. A rare met Yankee trade Miguel Castro to the Yanks Joe Ellie Rodriguez to the Mets at a swap of relievers. Yankees also sent reliever Albert Abreu to Texas for catcher

Jose Travino. The Master's teas off Thursday reports throughout here. On Bloomberg Radio, will Tiger Awards play, He calls himself a gay time decision ban Scar Sword Bloomberg score. Maybe you know more reasonable? Listen? Okay, thanks John. It's five thirty seven on Wall Street Time for the Tri State Business Report. Here's Bloomberg's said. Corey the pizza principal, a mainstay of New York economics for more than four decades, says that a slice of cheese pizza will always be

the same price as his subway ride, not anymore. Prices for plane slices are soaring about three bucks throughout the city. The Metropolitan Transportation Authority is freezing fairs at two dollars and seventy five cents. Friday's vote by workers in an Amazon warehouse to unionize was a watershed moment for the company. It's managed to keep unions out of its US operations

for more than a quarter century. Unless the result is overturned, Amazon will have to start talks that could hamper its ability to adjust work requirements and scheduling on the fly. Federal Reserve Bank of New York President John Williams says well over two thirds of New York City's job losses have been reversed. He also says some sectors hit harnessed by the pandemic, though, continue to struggle that your Bloomberg Tries Day Business report, I'm Ed Corey said. It's five

thirty eight on Wall Street. Bloomberg Radio is on the air from San Francisco to New York, London to Hong Kong. Let's check in with our global news team for some of the top stories heard on our three hundred affiliate radio stations around the world. I Steve Potaskan on ten ten Wins in New York. We're talking about big pay raises for company chief executives Courtney, Donaholan, Keral Dan Dallas travelers are rare to go and rising hotel prices aren't

stopping time. Genus Servetti in for w CCO in Minneapolis, I'm reporting that hundreds of small independent drug stores are accusing United Health of short changing them by more than a hundred million dollars. Bid Cory on w o AI in San Antonio, I'm reporting that Toyotas sold nearly eleven thousand hundred pickups made of the city in March. And those are some of the stories. Are twenty seven hundred Bloomberg journalists and analysts are working on this morning around

the world. It's five thirty nine on Wall Street. The following is an editorial from Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. Among the few encouraging trends in American education during the pandemic has been the growth of public charter schools, where enrollment has and by seven percent. Fed Up with underperforming public schools, parents are voting with their feet. Unfortunately, the Biden administration appears intent

on ignoring this warning sign. The Education Department has proposed new rules that would effectively bar charter school operators from receiving federal support if they open in areas where public school enrollment is declining. Those are the very communities where

dissatisfaction with public schools is boiling over. Charter schools can't fix all of the problems facing the U. S public education system, but they are a lifeline for millions of students trapped in failing schools or at risk of dropping out. Biden should show he's on their side and scrap these wrong headed rules. This editorial was written by the Bloomberg Editorial Board. For more Bloomberg opinion, please go to Bloomberg dot com, slash opinion or ope I n go on

the Bloomberg term at all. This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials every weekday. At this time, terminal customers could read more at O P I n go. SMP futures up seven point, Stuff futures up twelve, Nasdaq futures higher by fifty three points. In the tenure Treasury

yield two point three nine percent. This is Bloomberg Lumber eleven three oh weather mostly sunny, mid fifties today, upper fifties with late day rain tomorrow, the rain of end by Wednesday afternoon back to a high near fifty five. Right now thirty nine degrees in Central Park markets. Headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Out and at Bloomberg Quick

Tape is a Bloomberg Business Flash, and I'm parent. Moscow stops in Europe and US Dock Index futures are higher as traders the way the latest developments in the Ukraine War, with Pea stocks set to resume amid a new push for stiffer sanctions on Russia. We checked the markets every fifteen minutes throughout the trading day on Bloomberg Guess and P futures are up six points down futures that will change, NASDAG futures up forty eight. The decks in Germany is

it will change ten. Your treasury down three thirty seconds. You have two point three nine percent. The yield on a two year two point four five per cent nive ex screute oil is down seven tenths per cent, or sixty seven cents at ninety eight dollars fifty seven cents of barrel the euro on one seven against the dollar, and bitcoin is lower down eight tenths percent at forty six thousand, twenty dollars. That's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around

the world. Michael, thank you very much, Karen. Some European Union governments are pushing to quickly impose new sanctions in response to multiple reports that Russian troops executed unarmed civilians in Ukrainian towns. It comes at Ukraine sites more evidence of war crimes in the North Estelle Harris, who played George Costanza's mother on Seinfeld, has died. Harris, who also was the voice of Mrs potato Head in the toy

Sty movies, was ninety three. South Carolina has captured as second national championship in the women's n C Double A basketball tournament. The game Cocks shut down yukon forty nine. The men's NZ Double A tournament final is tonight between Kansas and North Carolina. In the NBA the nixt one, the Celtics beat the Wizards one four, one oh two. The Warriors were also winners. In the NHL. The Islanders beat the Devil's for three, the Rangers lost in the

shootout to the flyers. For three Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts in more than one D twenty countries. Michael Barr and this is Bloomberg. Nathan, Okay, Michael, thank you. It is five forty nine on Wall Street, Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and we're joined once again now by Bloomberg News Executive editor for International Government,

Rosalind math Us and Roz Good morning. Of course, we've all by now seen these horrifying images purportedly of civilian casualties in cities your key of that Russia has pulled out of We should note that Russia is calling these reports of civilian deaths fake. What's been confirmed about Ukraine's claims?

Has anything been confirmed yet? Well, nothing has been confirmed, but obviously there's a big body of evidence out there, both in footage that was taken as Ukrainian forces went back into this town when it was vacated by Russia. That's been shared widely and of course by others and by Western media that's been going in there as well of images that you say are quite horrific that point toward what Europe and others in the US say could

be war crimes committed by Russian troops in that town. Certainly, images of bodies in the streets, bodies tied up, are people with their hands tied behind their backs, quite distressing in the extreme, and of course pressing Europe and others than to respond more forcefully to Russia perhaps, and they have so far in terms of economic pressure on Russia

for its actions inside Ukraine. And that's where the conversations really going to center in Europe as what else they can do to try and pressure Russia to change its course in the war. Well, let's take a little bit of a deeper dive into what that conversation could look like. There have obviously been many sanctions imposed on Russian oligarchs, on Russian banks. Obviously the oil and gas sector seems to be a place where Europe feels pretty reticent about

putting pretty strong sanctions. There is that on the table. Is Russian energy on the table? Now, Well, it's very hard to see that it can't come on the table at least for the conversation. You can see that nations in Eastern Europe, for example, just saying it needs to

be the next step. You're seeing other countries including France UM indicating the same and certainly a lot of pressure that's going to come on Germany to open the conversation more forcefully about cutting off the types for Europe in terms of Russian oil and gas. Of course, Germany is the most exposed economy, the biggest economy in Europe. When it comes to this, it's been very reticent to do so.

In fact, even today the Economy Minister was out this morning saying you can't act on this too quickly because the economic shock to Germany would be too great. But you can see a real conversation that's going to escalate here in terms of what Europe can do because they've madically they're not going to send troops into Ukraine, so what else can they do aside for military action to

support Ukraine. UM. So you'll see a lot of pressure coming for conversation on that this week amongst the EU nations. And I guess there's an open question as well about how these claims affect the conversation if it comes up today between Russia and Ukraine. There's been some talk that

there's going to be more negotiations by video today. You've got to wonder how what kind of basis there can be for an asotiations now when Ukraine is putting these kinds of horrific claims against Russia right now, Well, that's right, and it's possible though that there will be video talks today.

Right now Ukraine is indicating that it's willing to keep those negotiations going because it's broader imperative is most important, which is to achieve somehow at least a temporary cease five that covers most of Ukraine, if not all of it, for at least forty eight hours, to allow some humanitarian aid to get in and out of some of the worst hit areas, and also to allow the safe movement of people, because we've seen that really struggle around towns

like Mario Paul in the southeast of Ukraine, which has been under siege for weeks. No aid or very limit today coming in or out. So Ukraine says, despite what they're seeing in these towns in the north, as Russian troops leave, they feel the conversation has to continue at that higher level to try and achieve at least a temporary cease far as always Rose, thanks for joining us, Rosalind Mathis and Bloomberg News Executive editor for International Government,

Karen Verry Nathan, Thank you. It is fifty three on Wall Street. Time for the Bloomberg Law Report, brought to you by American Arbitration Association. Business disputes are inevitable, resolve faster with the American Arbitration Association, the global leader in alternative dispute resolution for over ninety years. More at a dr dot org. That's yet at the llegal stories we're

watching this morning from Bloomberg's Jeff Bellinger. A federal court ruled that Walmart must stop selling shoes that Van says are an entire slate of knockoffs of its old school skate shoes. A federal judge in California rule that Facebook will face a trial over whether it collects and uses biometric data of Illinois residents who do not have Facebook accounts,

but the scope of the suit was trimmed. The Federal Circuit revived a patent infringement suit against Nintendo related to the synchronizing of data streams with its game controllers, Bloomberg Law everything you need, all on one legal research platform, including guidance analysis and Bloomberg Market Intelligence. Find out more at Bloomberg Law dot com. All right, Jeff, thank you Now. Another legal story where watching brings us to Supreme Court

Justice Clarence Thomas. He's facing calls to recuse himself from cases involving election disputes or the January sixth insurrection. That's after revelations at his wife, Jenny Thomas repeatedly pushed to overturn the presidential election in a series of texts with former White House Chief of Staff Mark Meadows. For more in the matter, Bloomberg student Grasso speaks to Rebecca roy Fee, or professor at New York Law School. Rebecca, what are

the rules for recusal that Supreme Court justices follow? There are rules that are drafted for all judges, and those rules require a judge to disqualify himself for herself whenever that judge's impartiality might reasonably be questioned. But that's a really broad rule, and in or are there are some more specifics about when judges normally recused themselves, and the general proposition is interpreted in light of those more specific rules.

And one thing that's kind of important also is that Supreme Court justices are a little bit different than other judges in that there is no one to take their place when they recuse themselves, and so for that reason, it's generally a good idea for judges to be a little bit more conservative about exercising their discretion to recuse themselves in particular cases. So, according to the texts that have been revealed, Jenny Thomas weighed in on Trump's legal

team legal strategy. She was actively involved in trying to get the election overturned. Justice Thomas participated in two cases related to election. He was the only justice who dissented when the Supreme Court allowed the release of records from the Trump White House to the many Should he have

recused himself from those cases? My view in this manner is that for the case having to do with the emails, specifically, Justice Thomas, if he knew that his wife had emails that were at issue in that case, should have recused because in that case then she might have had an actual interest, so more than just sort of her own ideological agenda, she might have had a personal interest, either criminal liability, civil liability or at least, you know, personal

embarrassment at issue in that case, and so it seems to me that he, if he knew, really should have recused. The other cases, for me are a harder call because what it is that is her interest is less concrete, and that makes it more difficult and not clear cut, because free I Court justices in the past, it's very clear that there's a record for recusing themselves in cases in which, let's say they have a financial and trust or a spouse has a financial interests, or they're connected

to a party in the litigation. All of those are cases in which you see most Supreme Court justices recusing themselves in most cases. But the connection here is a little bit more attenuated, and so I think therefore you have to look at the particular case and see whether or not there's a concrete interest rather than just a sort of broad ideological interest. And that's New York law

professor Rebecca roy Face speaking at Bloomberg Student Grosso. Catch more of that interview, plus analysis of the latest legal news by listening to the Bloomberg Lawn Show at ten pm Eastern Time. Are subscribing to the Bloomberg Law podcast, and attorneys can find exceptional legal research and business development tools at Bloomberg law dot com. And still ahead on Bloomberg day Break, I check on the business headlines and all the news you need to start your day. This is Bloomberg