Bloomberg Daybreak: April 6, 2022 - Hour 2 (Radio)

on improving rider, ship and service plus Avanca. Trump testifies before the January six Committee. I'm Michael Barr. More ahead, I've done stas Daron sports the next beat the Rockets, the Rangers, beat the Devils, and Tiger Woods says he's

coming back to play the baster. That's whole straight ahead on Bloomberg Daybreak on Bloomberg Eliven Treo, New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine Sixties, Francisco, Sirius x M one nineteen and around the world on Bloomberg Radio dot Com and via The Bloomberg Business at Good Morning I'm Nathan Hagar and I'm Karen Moscow. US DOT index Future is moving lower this morning, adding to

yesterday's losses. We're coming up to six oh one on Wall Street, and we check the markets every fifteen minutes throughout the trading day. On Bloomberg, SNP Future is down about twenty five points down. Futures down a Hubbard fifties seven and NASDAK futures down one. Two ten year Treasury down twenty thirty seconds, held two point six two percent, and they yield on the two year two point five. Nim X screwed oil is up one point six percent

and a hundred three dollars sixty two cents a barrel. Nathan, all right, Karen, thank you. We begin this morning with the latest on the war in Ukraine. NATO foreign ministers are meeting in Brussels, while the US and its allies are working on new sanctions against Russia. Amy Morris joins us with details from our Bloomberg newsroom in Washington. Ukrainian officials say Russian forces continue to strike infrastructure targets like

fuel storage and grain silos, and Ukrainian president flooding. Here's a Lyinsky made a plea for peace before the UN Security Council, urging the UN to do more to stop Moscow's aggression, sagging through a translator that Russia doesn't deserve a seat at that table. We are dealing with a state that is turning the veto into the UN Security Council into the right to die. This undermines the whole architecture of global security at China express dismay at the

killing of unarmed civilians without condemning Vladimir Putin. Russia continues to deny the accusations. In Washington, I'm Amy Moore as Bloomberg Daybreak, All right, Amy, thank you. Meantime, Secretary of State Anthony Blincoln is weighing in on civilian deaths in Ukraine. He says the atrocities in Buscha are not isolated incidents. Bloomberg said, Bachelor has the story. Secretary Blincoln says the US is helping in a thorough investigation and says there

must be accountability from the top down. What we've seen in is not the random act of a rogue unit. It's a deliberate campaign uh to kill, the torture, to rape, to commit atrocities, and Blincoln says it will all be documented and reported in San Francisco. I'm at Baxter Bloomberg Daybreak, Okay, and thanks. On the economic front, the war has had a major impact on oil and gas prices. Later today, oil executives head to Capitol Hill to answer questions about

price hikes. We get the story from Bloomberg's Charlie Pellet. Chief executives of BP America, Chevron, Devon Energy, x On Mobile, Pioneer Natural Resources, and Shell USA are set to testify before the House Energy and Commerce Committee. The hearing will include both in person and remote attendees. It comes amid intensifying scrutiny of oil companies whose stock values have climbed along with the price of crude, stoking new congressional proposals

for a windfall profits tax in New York. Charlie Pellet Bloomberg Daybreak, Charlie, thank you all. Treasury Secretary Johnny Yellen will also be testif before Congress today on how the war in Ukraine could impact the global economy, and Bloomberg's Rned Young joins us Live with the details. Good morning, Ready to Good morning care and Treasury Secretary Janet Yelling will warn that the war in Ukraine threatens to inflict

enormous economic repercussions. That's according to a copy of prepared remarks that she'll give to the House Financial Services Committee. Her testimony comes as the I m F is preparing to cut its forecasts for global growth. In Deutsche Bank, economists say that they should now expect the US recession in the next two years. Live in New York, I'm Renita Young, Bloomberg Daybreak. All right, thanks for Nita. Turning to markets now, we're seeing the global bond sell off

deepened this morning. Let's get the latest on that Live with Bloomberg's John Tucker, John Nathan. The bond route worsen day after Federal Reserve Governor Leo Brainard said the Central Bank will likely step up policy tightening given that the recovery has been considerably stronger and faster than in the previous cycle. I expect the balance sheet to shrink considerably more rapidly than in the previous recovery. Aspect of aggressive FED action drove the yield on the benchmark ten year

treasury of five basis points to to sixty. Investors are dumping fixed income securities as policymakers move to raise rates in the face of surging global inflation. Global bonds extending losses this week, and we're completing an eight month losing streak that is the longest on record. Strategists say the whole fit typing narrative is being moved up in time. At Magnitude Live in New York, I'm John Tucker Bloomberg Daybreak.

All right, John, thank you. We me get more clues about the future of interest racers afternoon, my minutes of the FEDS March policy meeting are released. We are also likely to get details of the Feeds plans to shrink its massive balance sheet. Today. Let's turn to corporate news now, Karen, we have a takeover bid in the airline industry. Jet Blue has offered to buy rival Spirit Airlines for three point six billion dollars. The move could potentially spoil an

earlier agreement for Frontier Group to buy Spirit. The unsolicited proposal from Jet Blue has the potential to reshape the landscape for ultra low cost air travel in the US. We'll turning to the pandemic now, Nathan. The push to gain workers back in the office is picking up now. Bank of America plans to bring all its US employees back by June one. To get the story from Bloomberg's Lisa Mateo, the return to office includes those who haven't

been vaccinated against the coronavirus. Sources say employees will still have some flexibility to work from home, but they are being strongly encouraged to collaborate with colleagues in person. Bank executives on Wall Street have voice concerned that junior bankers and traders can't get the same kind of training and mentorship over Zoom that they can from being in the office alongside more senior colleagues in New York. Lisa Mateo, Bloomberg Daybreak, All right, Lisa, thank you. And this could

be a boon for Fightser. Bloomberg News has learned the White House is on the hook to pay Finser nearly five billion dollars for pills it's already ordered to treat COVID. That means the Fightser treatment could eat up about half of a scaled back pandemic funding bill that the Senate

is debating right now. S and P futures are down twenty four point staff futures down a hundred fifty four nastic futures are lower by a hundred twenty points, the tenure treasury is down twenty thirty seconds, the yield two point yield on the two year two point five five, and nieme X screwed up one point seven a hundred three dollar sixty four cents of barrel. Straight ahead, your latest local headlines and the check of sports. This is Bloomberg.

It's sounds six oh seven on Wall Street, still reigning sixty five degrees. I'm sorry, forty five degrees in Central Park. It's not nearly that warm. Here's Michael Barr with more on what's going on in New York and around the world. Michael, good morning, Good morning. Don't get me happy like that. Weekday subway ridership in New York City is nearly six levels now. The incoming subway and bus chief wants to boost that. Richard Davies says he will focus on how

to improve service to bring more riders back. Safety is absolutely the top priority on the security of our system. I think that's job one. Davey plans to work with the New York City Police Department and mental health outreach workers to produce crime I did observe writers you know, standing against wallace, for example, or situating themselves near posts or other immovable objects to make sure that someone didn't

approach him from behind. Richard Davy, a former Massachusetts Secretary of Transportation who also ran Boston's mass transit system, will begin his ten year on May second as president of New York City Transit. At the m t A. Ivanka Trump is testified before the House January sixth Committee. She

answered the questions remotely. Chairman Manny Thompson says Ivanka Trump cooperated voluntarily answering what she knew about the hours with her father, former President Trump, before, during, and after the Capitol riot. Earlier, Avanka's husband Jared Kushner spent nearly six hours talking to the committee. President Joe Biden is ordering a new national research push on long COVID. The President is also directing federal agencies to support patients dealing with

a mysterious and debilitating condition that includes fatigue and brain fog. Meanwhile, there are more reported cases of diabetes after COVID. Nineteen CDC director Dr Rochelle Wilenski, the science is definitely starting to demonstrate this link between people who previously had COVID and increasing rates of new diabetes diagnoses. Dr Wilensky also says the seven day average of new COVID hospitalizations is about fourteen hundred per day, a decrease of about seventeen

percent over the previous week. Severe weather killed at least two people, one in Georgia and another in Texas. Yesterday, hail, strong winds and tornadoes tour across the south. In Crawford County, Georgia. This allmowner describes the moment the storm hit. I heard, you know the noise. Everybody says there's a train noise. So it didn't last, but about like seconds more severe

weather is forecast in the Southeast Today. Global News twenty four hours a day on air and on Bloomberg Quickday, powered by more than journalists analysts more than twenty countries. Michael bar this is Bloomberg. Nathan. Thanks Michael. Coming up to six ten on Wall Street time for the Bloomberg Sports Update with John Stashi. Thanks Nathan. Tagger Woods won the Masters in twenty nineteen, finished thirty eight when the Masters was postponed until November. He hasn't played a tournament

since then. He didn't play last year's Masters because last year at this time he couldn't get out of bed. But fourteen months after the life threatening injuries suffer in the car accident, Tigers set to tee off tomorrow morning around ten thirty. He's been playing practice rounds in Augusta and was asked how he's playing. It just fun and I don't have any qualms about what I can do physically from a golf standpoint. It style walking as the hard part, and this is normally not a easy walk

to begin with. He'll play with the South African Louis Eustasen and the young Chilean Joaukee Nieman, who is half Tiger's age. Hourly Masters updates here on Bloomberg Radio on a wrap up show each night at eleven. Kyrie Irving enjoyed being allowed to play in Brooklyn. Scored forty two points, made eight three point is the next Sweet Houston one

eight team to one oh five. Needed a big game from Kyrie because Kevin Durant, coming off a fifty five point game, shot just four of thirteen Rangers in New Jersey one three to one. Forty seventh goal for Chris Ryder. He's third in the league to assist for our Timmy Panari's got sixty five, which is tied for second in the NHL fifth grade winning goal for Alex Gordy. Have Islanders lost in Dallas three to two. The end of the grape Fruit League, the Mets lost to Washington fourteen

to nothing Taiwan and Walker got roughed up. The two teams play the opener tomorrow in d C. The Yankees lost to the Tigers and then came home opening the day with the Red Sox scheduled for tomorrow with the stadium, but rain is in the forecast. Johns Dashward Bloomberg Sports Okay, John, thank you right now. SMP futures are down twenty four point, staff features down a hundred fifty five. Nest Act futures are lower by a hundred twenty three points. The tenure

treasury is down down twenty one thirty seconds. With the yield two point six two percent, yield on the two year two point five five percent. Latest on the war in Ukraine. Next with Bloomberg's Mark Champ be and stay with us. This is Bloomberg Bloomberg Day Break, brought to you by ancient accountants and advisors challenging times call for proactive advisors who helped minimize taxes, increased cash flow and

create opportunities for the future of your business. Visit ancient dot com markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com. The Bloomberg Business at Land at Bloomberg Quicktape is a Bloomberg Business lash and I'm Karen Moscow and a global bond sell off. Deepening and stock slumping is investors position for a swift reduction in the feder reserves debt holdings as part of a stepped up campaign of monetary tightening to tackle high inflation.

We checked the markets every fifteen minutes throughout the trading day on Bloomberg, s and P futures are down thirty one points down, futures down one four NASDAG futures on one hundred tenure treasury down thirty seconds two point six three percent. They yield on the two year two point

five six percent. Nim Max Screwed oil is up one point six percent of a dollar sixty six and a hundred three dollars sixty cents of Barrel Comic School is up three ten per cent or five dollars fifty cents At nineteen thirty two eighty announced the euro one point nine O eight against the dollar British round one point three zero eight six. They end at one three point nine one and Bitcoin is lower down one and a

half percent at forty one hundred fifty dollars. As a Bloomberg Business flash, now here's Michael Barr with more on what's going on around the world. Michael Karen, thank you very much. The US, European Union and Group of Seven are coordinating on a fresh round of sanctions on Russia, including the US ban on investment in the country and an EU ban on coal imports. It comes after the discovery of civilian murders and other atrocities in Ukrainian towns

left open by retreating Russian forces. In golf Tiger Woods Hays for now, well, he'll probably Tall had the Master's golf tournament in Augusta, Georgia tomorrow, following a fourteen month recovery from a near fatal car crash that almost cost him his leg. Stay tuned for updates every hour on Bloomberg Radio and a special edition of Masters Tonight coming up at eleven pm Eastern time. In the NBA, the Nets and Wizards. One in the NHL, The Rangers Meet

the Devil three one the Islanders and Bruins lost. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists analysts more than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan Okay, Michael. Thanks at six nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios.

This is Bloomberg Daybreak in our global team. Coverage of the war in Ukraine continues now with Mark Champion joining us Bloomberg News Senior reporter for International Affairs Market Morning. I want to start off with the latest on what we're seeing on the ground in Ukraine. We've gotten these reports that rush some Russian forces have pulled away from near Kiev, where the was a horrific images have been left behind and are now focusing on the east. Is

that what we're seeing at this point. Yes. In the first part, so essentially, the Russians announced that they would withdraw from the north um. The Ukrainians sort of took advantage of that and and have been harassing them and they have largely left from around Kiev um and in

some other areas in the north. UM. The expectation, largely because the Russians have said that this is what they want to do, to focus on the east and the don Bass region instead, is that those forces will eventually be moved around to the other side of the country and join the the war effort, the Russian war effort in through the east. UM. That's where Mariupo has also been under siege for several weeks now. UM, So that

hasn't actually happened yet. There haven't been actual sightings of those troops that left the north moving to the east. It's expected that could take a couple of weeks. And we also heard this morning from Ukrainian President Voladimir Zolinski once again giving a virtual address, this time to the Irish Parliament, saying that Russia hasn't given up on its ambition to take over the entire country. If we do have this focus seemingly at the moment on the eastern

part of Ukraine, how does that square well? In a way? It does if you I'm sure that if the Russian military command was to do this over they would not begin their campaign with their forces stretched across three at least three different fronts in the north to the ran Kief around hark If down in Odessa, and then across

in the east as well. UM. So what they would probably have done would would be to concentrate forces in the east where they already have advantages UH and then just force their way in, take the tarret tree that they need to consolidate for the logistical purposes, etcetera, and then push west. And that may be what happens now. And of course, after all the images that we saw over the weekend of the atrocities in Busha and potentially in other places, we're hearing about more coordinated efforts by

the US and allies to Titan sanctions. Even further on Russia. We heard the ban on coal imports from the European Union yesterday. What more is on the table, Mark, Well, there there is the sorry, there is the possibility that the UH that the European Union could ban imports of oil from Russia and imports of national natural gas from Russia. This is what the UK and the US have have done in part, and it's also what President Zelinsky is

pressing the EU to do. But these are really difficult moves for some countries which are high dependent on Russian gas and oil um, and so they're they're taking a first bite. Coal is not insignificant of European coal imports come from Russia, so there's a lot of substitution to

do there. But there you know, something that was at one point just inconceivable, which is that Europe and in particular countries like Germany would cut themselves off from Russian oil and gas, is now at least being talked about in our last minute here, Mark, is there any sense that cutting off Russian oil and gas would actually change the way the war is going, perhaps even bring this to a conclusion, given that the massive sweeping sanctions that

have already been imposed on the Russian economy haven't had that effect and in fact have led to these horrific images that we've seen. Yes, I mean, there's always a very difficult sort of translation between sanctions and you know, the war efforts on the ground. This is no option, but the the oil in particular, if that were banned, that would have an absolutely crushing um effect on the Russian budget um. And you know, at the moment, because

of hi old prices, high gas prices. The Russians have actually had a bit of a boon which has helped them to offset the sanction. So it could have an impact, but what impact is very unpredictable. They might escalate instead of d escalate for example. All right, we'll leave it there for now. Mark, thank you, as always, Mark Champion with us this morning, our senior reporter for international affairs

for Bloomberg News. Looking ahead to the market, open futures are moving lower, with S and P futures down down twenty nine point, Style futures down a D two, Nasdaq futures lower by a hundred forty five points. The tenure Treasury is down twenty four thirty seconds now with the yield two point six three percent just ahead. Janet Yellin's warning about the impact of the war and the deepening bond sell off on comments from Lyle Brainerd Checker stories

of the morning. You're listening to Bloomberg Daybreak. Bloomberg Daybreak is brought to you by the Jewish Communal Fund j c f's Donor Advice Fund is the smart choice to manager philanthropy, especially in times of crisis. Make your giving impactful. Visit j c f n Y dot Org broadcasting live

from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Freedom to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg N sixteen to the Country, Sirius XM to A one nine team, and around the globe the Bloomberg Business at and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow, and we're just about three hours away from

the open of US trading. It's time the fine things you need to know to start your day up. First, the US and its allies are coordinating more sanctions against Russia announced after the alleged murder of civilians in Ukraine. AU commissioned President Ursula vunder Lyon is delivering harsh words for the regime in Moscow. Humanity itself was killed in Wucha. It was killed in cold blood, executed with his hands

tight and the bullet in the head. And President of under Lyon with those remarksist morning at the European Parliament, New sanctions will include a European embargo on Russian coal, a US ban on investment in Russia, and tighter penalties on officials and state owned enterprises. I meantime, Karen Janet Yellen testifies before Congress today on the economic impact of the war. Let's get the details lie from Bloomberg's Juanita

Young Rinita Nathan. Treasury Secretary Janet Yellen will warn that the war in Ukraine threatens to inflict enormous economic repercussions. That's according to a copy of prepared remarks that she'll give to the House Financial Services Committee. Her testimony comes as the m f is preparing to cut its forecast for global growth, and Deutsche Bank economists said that they now expect a US recession in the next two years. Live in New York, I'm re need a Young Bloomberg

day break. All right, we need to thank you. Turning to the market. So now we're seeing the global bonds sell off deep in this morning. We get the very latest live at the Bloomberg John Tucker, John and Karen.

FED Governor Leo Brainerd said the US Central Bank will likely step up policy tightening that has accelerated the bomb round and is driving the yield on the benchmark ten ure treasuries up another nine basis points this morning to two point six four percent bonds worldwide, I've seen an eight month losing streak that is the longest on record,

lined in New York. I'm John Tucker Bloomberg Radio, and John, we could get more close from the Fed Later today, the Central Bank releases minutes from its latest policy meeting and unveils details of its likely plans to shrink its balance sheet. Well, Nathan Bloomberg News has learned Bank of America plans to bring all its US employees back to the office by June one, and that in cludes to

those who have not been vaccinated against the coronavirus. Sources a b of A staff will still have flexibility to work from home, but are strongly encouraged to collaborate with colleagues in person. Futures this morning are lower S ANDP futures down thirty points, at OL futures down one eight

and AS day futures down one fifty one. Ten year treasury down thirty seconds, L two point six three percent, and they yield on the two year two point five six percent and straight ahead, your latest local headlines, plus a check of sports and this is Bloomberg. Okay, Karen, thank you to six thirty three on Wall Street, still ragining, still forty five degrees in Central Park. Got an accident on the upper level of fifty ninth Street bridge heading

into the city. Tails 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. New York City's incoming subway and bus chiefs as safety will be one of the focuses on how to improve service.

Richard Davy, a former Massachusetts Secretary of Transportation, will be the president of the New York City Transit At the m t A. Sitting next to General Lieber M t A Chief executive officer, Davy says, the writers deserve a better system and want a better system. I also did see almost folks sleeping on you know, platforms, um and um,

you know, I did see a fair leader. Davy begins his tenure on me second, the House panel investigating the Capitol riot questioned of Anka Trump for eight hours, asking about her recollections of that day inside the White House with her father. Former President Donald Trump. Ivanka Trump served as a senior White House advisor during her father's presidency.

She testified voluntarily. The siblings of Glenn Maxwell say they are profoundly shocked and troubled that a judge has rejected a new trial despite revelations that a juror who helped to convict her failed to disclose he was sexually abused as a child. In this statement, the Maxwell family said it remains optimistic about an appeal before a panel of

three Manhattan Appeals judges. The statement came four days after U. S. District Judge Allison Nathan wrote she cannot order a retrial in the sex trafficking case after determining the juror did not deliberately give wrong answers on a juror questionnaire. Authorities say one person is dead in Georgia and another in Texas. Amid damaging storms, high winds, and tornadoes around the South, more than fifty thousand homes and businesses lost power last

night from eastern Texas to South Carolina. In Crawford County, Georgia, this homeowner describes the moment the storm hit. I was just standing at the doorway and then I started hearing that noise and started seeing the tree started going to circle, and I just headed back in. I got a little pool table up on there, and I just kind of hunkered down. Forecasters say more damaging weather is expected today. Recent studies are showing an increase likelihood of being diagnosed

with diabetes in the months after contracting COVID. Nineteen CDC director Dr Rochelle Wilinski, I think as we consider the menu of many things that could incorporate be incorporated into post COVID conditions, a diabetes certainly should be one of those conditions considered. Dr Scholl will end skip Global Names twenty four hours a day on air and on Bloomberg Quick Take, powered by more than the journalists, analysts, more

than countries. I'm Michael Barr. This is Bloomberg neither. Thank you, Michael. Almost six thirty six on Wall Street. Time for the Bloomberg Sports Update once again. John stash Our, All right, Nathan zagger Woods says he's hitting the golf ball well. The hard part will be walking between shots, he says, Augusta, Nashville, not an easy walked up again with let alone for someone fourty six years old who has had multiple back in the surgeries and was in a life threatening car

accident fourteen months ago. But Tiger said to make his return at the Masters, he's won it five times. He teas off tomorrow morning around ten thirty and hopes to play all four rounds. It's the recovery, you know, how How am I gonna get all the swelling out and recover for the next day? And and uh, my team has been fantastic and worked very hard. Um, so I've got another day of nine more holes and um then come game time. Tanker said he's excited about the challenge,

has always said he believes he can win. Hourly Masters updates here on Bloomberg Radio on a wrap up show each night. At eleven Nets in Brooklyn against the Rockets, there were twenty and sixty used to hung in the game, getting sixty six points from the backcourt of Kevin Porter and Jalen Green. Mac Kyrie Irvan scored forty two points the Nets one one oh five Rangers beat the Devil's three one. Islanders lost in Dallas three one three two.

Yankees need to bring some extra chairs out to the bullpen. They set their roster headed north with only three reserves sixteen pictures. Yanks opener tomorrow at the stadium against the Red Sox. Weather permitting the Mets to open tomorrow in Washington. Max Ers are unlikely to pitch due to a tight hamstring. The Mets hope sure as we can make his Mets

debut on Friday. MLB has, okay, the use of pitch Calm, a device where a catcher can communicate with a picture by the use of a will push up a button. The hope is it's the end of signs stealing. John Stashar Boomberg Sports. Okay, John, thank you. Six thirty seven on Wall Street Time. Now to take a look at stock, some of the names moving in the pre market with Bloomberg Radio and TV Markets correspondent Created Gupta once again

created seeing moves to the downside, particularly in tech. Yeah, a lot of it is going to be a reaction to what you're seeing in the bond marketing guy, John Tucker just talk about an eight months slide, uh, when we're talking about bond selling off. But take a look at this, Nathan. It is six thirty seven, Like you said, you already have a ten basis point move, or almost

ten based point move in the tenure yield upwards. That of course is going to hit Tech and those are gonna be some of your major movers, probably why you're starting to see a lot of red on the screen. Let me just go through some of them here. Twitter, for example, t W t R is going to be a very high volume one down one point four percent. We'll get to why on more on that one in a second, but let's talk about the heavy waiter tier.

Apple is a big one. A A p L is your taker down one percent this morning, and Video is going to be another one. The chip maker of course, n v d A down two and a half percent. Tesla also taking hit t s l A down to percent. Remember Tesla has actually been leading a lot of those games in the sp the NASTAC for the last two sessions, So that's really something you want to keep in mind. As you start to see these bond yields get higher

and higher, it's going to hit tech. Now. Remember we talked about this inverse correlation all the time that the text is gonna drop every time yields are higher. But it's not every time yields are higher. It's every time yields are higher. By this much of a margin ten basis points, four teen basis points. I think we were up seventeen basis points yesterday and you saw the Nastac

taking an enormous hit. So it really does come down to the margin of the move when it comes to the bonds based and that of course is going to kill tech today. Yeah, we're seeing Nastack futures. Well, we're by another one point one percent in the pre market. We've been talking as well about this this morning. I know you've been watching it createies some takeover drama in ultra low cost air travel. You know, it's fascinating, Nathan, because there's so much cash in the system right now.

I think a lot of people are saying, well, if we're not going to use buybacks, what are we going to use it on? A lot of the question ends up becoming mergers and acquisitions, and that's really where Spirit Airline comes into focus. This morning, s a V is your ticker down two point three percent. This comes after the budget carrier received a three point six billion dollar

takeover offer from Jet Blue. It was unsolicited, and it also the offer tops a competing bid by Frontier Group A couple of weeks ago we talked about this major deal between Frontier and Spirit essentially kind of forming together a super budget group, if you will. Essentially, for our European listeners, is the equivalent of Ryanair here in the state. UM. But nevertheless, they said it was unsolicited, but they are going to consider the offer and give a return answer

in due course. Jet Blue shares j b l U also down this morning, down four percent, So it's unclear if there's a ton of investor optimism right now. Nathan has promises quickly hit Twitter t W t R down one point three percent. This of course comes after Elon Musk refile the disclosure of a state to classify himself as an active investor. May have talked out there, okay. Bloomberg Radio and TV Markets correspondent Creedy grouped up with

us this morning. As we look at stun as a whole head of the open, it's pointing to a lower open with SMP futures down down thirty one points down, futures down a d eighty five, NASDAC futures leading the declines, as we mentioned, down a hundred sixty two points, a drop of one point one per cent. You're listening to Bloomberg Daybreak Bloomberg eleven three Oh weather, it's raining, but

it'll end by midday. Will be in the high little below fifties for highest today, mid fifties tomorrow with scattered showers and storms, low sixties by Friday. Right now forty five 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 is a Bloomberg Business lash and I'm Karin Moscow. US dot Index futures

are lower treasuries extending their saline. We go to the first Sword breaking news desk for today's morning call, and here's Bill Maloney. Bill, good morning, and good morning, Karen. That's right. US features are under pressure right now at DEAF Futures down point says to be strup fifty seven, while NAS deck features are down by three. The US A ten year old jumps to two point six five percent, Gold is up three, oil is climbing, and bitcoin is

down by one point one percent. Japan fell one point six percent overnight, while up and markets are also in the red this morning, and back in the US on the economic frone at two o'clock minutes from the f O m C. After the bells night, Spirit Airlines confirmed the proposal from Jet Blue for three three dollars to share in cash and regarding earnings. This morning, Greenbrier EPs Feed estimates, wrapping things up, Jazz Farm, moos Cuting, Neutral, Bowman, Sax.

PayPal was rated a new equal weight over at Stevens Live. From the first to Breaking News Desk on Bill Maloney. Karen, all right, Bill, thank you, and here lie breaking news over your Bloomberg tip squawk on your terminal SQ you a w K and that's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around

the world. Off, Karen, thank you very much. China says the reports and images of civilian deaths in the Ukrainian town of Bucha are deeply disturbing as calling for an investigation. It comes as Western governments are preparing tougher sanctions against Russia. China reported more than twenty thousand new daily COVID cases.

It's driven by surging infections in Shanghai. In golf, tiger Wood says, for now he'll probably tee off at the Master's Golf tournament in Augusta, Georgia tomorrow, following a fourteen month recovery from a near fatal car crash that almost cost him his leg. Stay tuned for updates every hour on Bloomberg Radio and a special edition of Masters Tonight coming up at eleven pm the Eastern Time. In the NBA,

the Nets and Wizards one. In the NHL, the Rangers beat the Devil's Three one, the Islanders and Bruins lost. Global news twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. I'm Michael barn this is Bloomberg, Karen, alright, Michaels, thank you.

Sixty nine on Wall Street, we turned to news and science and technology Now at the Bloomberg and j I T STEM Report Bronzi U buy New Jersey Institute of Technology n j I T makes industry ready engineers and more than twenty fields. If it's engineering, it's at n j I T. Learn more at n j I T dot E d U I know, here's just making news and science, technology, engineering and math. According to an Israeli study, a fourth dose of Fiser's COVID nineteen vaccine improves protection

against infection and severe illness. The findings, published today in New England Journal of Medicine, were based on data for one point two million people ages sixty years and older. About half of the participants had a fourth jab, while the rest had only the third. The rate of severe illness among those who received a fourth dose was about three times lower than those who had received only a third dose. In England, last month, COVID infections reached their

highest levels since the pandemic began. That's according to a new study. It found the search was driven by the omicron veryan b h Q and by waning immunity among older adults who received their booster shots earlier compared to other age groups. Now says Dress rehearsal for its Mega Moon rocket is off until at least this weekend because of a pair of technical problems that kept stalling a

fueling test. Launch managers tried twice to load nearly one million gallons of fuel into the three two foot rocket known as Space Launch System Countdown test is the last major milestone before the rockets long awaited launch debut, and that's a Bloomberg n j I t Stem report. Nathan Okay, Karen, Thanks.

We are live from the Bloomberg Interactive Brokers Studios or at six fifty on Wall Street Time now to check what's going on in d C. Some of the top stories in our nation's capital include the US, EU and G seven already in new sanctions against Russia, an amendment dispute stalling the COVID spending bill in the Senate, and Ivanka Trump questioned for eight hours in the capitol. Ryant probe.

Also making news this morning, an x oligarch who says Russian President Vladimir Putenci's war with the West already under Let's get more on this now and the other stories from Bloomberg. Government reporter Emily Wilkins joining us from the nation's capital. Very interesting story Emily on the Bloomberg terminal this morning. An interview with the former head of yukos Oil, Michail Kordakovski. What's he's saying about what Putin is thinking

about the war in Ukraine? You think one of the really interesting things to emerge from this interview with him. You know, you've seen the US try and be so so careful about not escalating things with Putin, about saying that they don't want the US and Russia to be directly engaged in conflict. But according to what we're hearing from this former head of Yukos Oil Company, Putin already sees that he's at war with the West. Um. That's his perspective, even though the currently the fighting is only

in Ukraine. Uh. He doesn't believe, per the former oligarch, that if he invaded the Boltics, that US and NATO would do anything. He sees NATO as weak um and he and that could mean that, you know, potentially this war is going to spread further than Ukraine, that we could see a potential escalation if this is indeed Putin thinking, And it is interesting insight as we are hearing this morning from Ukrainian President Zelinsky saying Russia hasn't given up

its ambitions to take over all of his country. Given what Kodakovski is saying, Emily, what does this mean about the impact of sanctions that have already been imposed and as the US and allies consider even further ratcheting of punishments on the Russian economy. Well, Kodakowski said that economic sanctions alone don't scare Putin. Many things, the US needs to show Putin a consistent policy of force. Now there

wasn't a ton of elaboration on that. There's really still not the appetite within Washington to actually send American troops over to Ukraine or to institute a no fly zone. But but Biden has been very adamant that should Putin go ahead and attack a NATO nation, that the US will respond, that they will live up to their Article

five duties and defend their allies in that regard. So I think at this point it sounds like the concerns certainly is what happens if this war spreads to a NATO country, And and based on what we're hearing from Kardakovsky, Putin's mind is already there. So what's on the table now as the US and allies consider even further sanctions on Russia? We heard about the cold band from the EU yesterday, what more could be coming? So we're definitely seeing about the cold band on the EU and the

US also discussing sanctioning of Putin's daughters. We don't know much about his daughter's but the hope is that the sanctions continue to ratchet of pressure within his inner circle. Um. The US is also looking to ban investments in the country. White House Press Secretary Jen Saki said yesterday that government's plan to increase penalties on Russian financial institutions and state owned enterprises and will sanction other Russian officials and their

family members. What's the hold up on sanctioning Russian oil and gas? It seems like that's been the real sticking point here, something that Europe in particular has been very reticent of targeting. Why not at this point after particularly the atrocities that we've seen allegedly coming out of formally

Russian occupied territory Northern Ukraine. For Europe, a lot of the concern is just that so much of their oil, such a large percentage of it is coming from Russia at this point, and there's you know, the US is trying to figure out ways to make sure that Europe is getting more oil and more gas that they don't have to be reliant on Russia. You saw that release of this from the Strategic Petroleum Reserve announced the other week.

But I mean, part of it is that it's just not as easy as it is for the US, UH for some of these European nations to really cut off their reliance on on Russian oil. I want to turn quickly to some domestic matters as well. Their debate is underway in the Senate on COVID funding, but it looks like it's hit a snag. Yes, so it's a ten billion dollar package. Uh. The idea is that it will continue to allow the US to produces vaccines and other medicines to sort of prevent and help those have been

infected with COVID. But I'm tied up in an immigration related provision title for you to which basically allowed the Trump administration to bar migrants from crossing the border under concerns that they would bring the virus into the US. That's still in place right now, but the Biden administration has announced that they want to repeal it around May

twenty three. That has a lot of Republican consenators concerned, and even more so, it has a number of moderate Democrats and Democratic senators facing tough elections in the fall concern. And you've seen them join force is with these Republicans and say that you know, they want to They're concerned about this band being lifted. They're concerned about an influx of immigrants crossing at the southern border, and it's unclear exactly what the fate of this package is going to be.

A Republicans say that they want to vote on an amendment to stop the repeal of Title forty two to keep that in place. Uh. Senator Meant Rodney, who negotiate this package, believes that if that happens, that Republicans will have the votes to move the package. And now kind of things are in Senator Chuck Schumer's lab. They were really hoping to pass this legislation before everyone went home for the Eastern Recess on Friday. The House was supposed

to leave on Thursday. But Nathan, that's looking less and less likely now. Oh so there's a possibility then, just quickly, that they need more time even into the recess to get this done. Thirty seconds left, Emily, if they decide to go for it, yes, otherwise they could always break for recess pick it up when they come back. Um. I think right now, really the ball is been Senator Chuck Schomer's court as to how they move on that. All right, Emily Wilkins of Bloomberg Government. As always, thanks

for the update from Washington. Read more about these stories

on Bloomberg dot Com or on the Bloomberg terminal. Listen to Bloomberg Radio in the nation's capital, Bloomberg and one oh five point seven FM h D two SMP future is now down thirty three points, Stown futures down a hundred eighty eight Nastack futures are lower by a hundred sixty six points, and the bond sell off continues this morning, with the tenure Treasury now down twenty five thirty seconds, the yield two point six four percent, yield on the

two year two point five six percent. On a morning where we await the minutes from the FEDS March meeting and more clues on the rate path and the balance sheet. Bloomberg Surveillance up next for Karen Moscow. I'm Nathan Hagar, and this is Bloomberg