Bloomberg Daybreak: June 7, 2022 - Hour 1 (Radio)

across the state. Plus the U S warrens North Korea of a strong punishment and conducts a nuclear tests on Michael bar More ahead of John Stas Stoward Sports. The next one in San Diego, Colorado was raised this Dailey Cup on All the Rangers played Game four at Tampa

Bay tonight. That's All's training ahead on Bloomberg Daybreak on Bloomberg eleven, Free on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Syrius Exam one nine Team, and around the world on Bloomberg Radio dot Com and via the Bloomberg Business Shop and good morning. I'm through at Moscow. I'm Nathan Hagar. Bloomberg Daybreak is brought to you by Informattica in the Cloud.

Your data has the power to view the extraordinary managed data across any location in the cloud for accurate and actionable insights. More at informattica dot com. A US futures are lower this morning five oh one on Wall Street. We checked the markets every fifteen minutes throughout the trading day on Bloomberg Right now. S and P futures down twelve points down, futures down a hundred four, NASDAG futures down forty eight and the tenure Treasury up six thirty seconds.

You have three point one percent, Nathan, Karen. We'll have more on the markets in just a minute. First, you want to get you the latest on the future of Boris Johnson. The UK Prime Minister has managed to cling to power. Let's go live to London and get the very latest from Bloomberg's You and Pott's Good morning. Good morning, Nathan and Karen win for Boris Johnson in a vote

among lawmakers in his own conservative policy. The UK Prominissa has secure all the numbers to remain as leader, but more than forty percent of his colleagues indicated they had no confidence in his leadership. That was the worst result than that suffered by his predecessor, Theresa May. Under official party rules, he cannot now be challenged again for another twelve months, but rules can be changed, and many expect

leadion for questions to continue in London. I'm your parts being big day, break right you and thank you now the latest on the war. Russia has banned dozens of US officials from entering the country. We get details from Bloomberg's Amy Morris in our newsroom in Washington. Treasury Secretary Janet Yellett and Black Rocks Larry Fink are among the sixty one US officials and executives indefinitely banned by Russia retaliation for what it called constantly expanding sanctions against its citizens.

This says, Ukraine is in talks with the United Nations to craft a deal between Turkey and Moscow to restart shipments of grain from ports blocked by Russia. Meanwhile, shortly after the UK joined the US and pledging to send longer range missiles to Ukraine, Russia's president Putin threatened to strike new targets if those weapons are delivered in Washington. I'm Amy Moore as Bloomberg Daybreak. All right, Amy, thank you. Turning to US politics. It is a primary election Super Tuesday.

Seven states, led by California and New Jersey, are heading to the polls for the busiest day of voting before the general election in November. Claremont mckennack College political scientist Jack Pittney has more on a major theme playing out in California, crime and homelessness. If you talk to anybody who's recently visited Los Angeles, they'll be shocked at the homeless encampments all over the city. Uh. It's a huge humanitarian problem and one that the city government has not

been able to manage very effectively. Claremont McKennis Jack Pitney says it is affecting the Democratic race for Los Angeles Mayor, pitting Congressman Karen Bass against tough on crime billionaire Rick Caruso. It is also feeling the race for Attorney General in California, two Republicans and a Republican turned independent or running to unsea Democratic incumbent Rob Banta. As for congressional races. Republican

David Valadeo is facing a tough primary challenge. He was one of the ten House Republicans who voted to impeach former President Donald Trump last year. Well in New Jersey Nathan Republican contenders are hoping to crack the States Blue Wall in today's primary, and Bloomberg's Michael Barr has the latest. Today's primary has a field of thirty five GOP candidates, many online with former President Trump. However, the governor's seat and the legislature are controlled by Democrats and the party

holds ten of the twelve congressional seats. One race to keep an eye on his New Jersey's third district, Jim owner Ian Smith, refused in order to close his business during the pandemic, is among three Republicans running against Democrat Andy Kim. The third district is a politically divided area that voted for Trump by a narrow margin in the election.

In New York, Michael Barr Bloomberg Day Brick Okay Michael Thanks in Corporate News, Deal or No Deal looks like Elon Musk's buyer's remorse will not get him out of his acquisition of Twitter. Let's get more on that line from Bloomberg's We Need a Young, We Need Good Morning. Nathan Elon. Musk is reviving his argument that Twitter has a serious bot problem, and he's threatening to walk away from the deal if the social media giant does not do more to prove that its users are real people.

But Bloomberg sources say behind the scenes the deal is still proceeding. Twitter thinks it's in the best interest of all shareholders and wants the cleft to close the transaction, and it's possible that Twitter could try to sue Musk to complete the deal if he tries to walk away. Live in New York, I'm rened to Young Bloomberg day Break a right re need to thank you. Apple out with new software and services at its Worldwide Developers Conference.

Fresh features include an updated iPhone lock screen, multitasking for the iPad, and a pay later service that brings Apples into the finance industry. We discussed the move with Creative Strategies President Carolina Milanessi from the event in California. I think the core of it is that is going to be so much easier for people that use Apple Pee to just use that as a default versus using the plethora of other options but you have in the market.

It's about integration, is about taking away every little bit of friction that you have in the experience creative Strategies. President Carolina Milanessi expects Apple's new pay later features to be helpful for both small businesses and consumers. Turning to the economy, Karen JP Morgan Chase chief economist Bruce Cassman says there's little chance a recession is imminent. I think what we're gonna see is growth continue to be on the softer side, but growth continue to show resilience. Uh.

We don't see a near term recession. Uh. We see a global economy which actually does okay in the second half of the year, with the U S slowing and the rest of the world doing somewhat better. JP Morgan Chase chief economist Bruce Cassman's comments differ from his boss, Jamie Diamond. Last week, Diamond said investors should be ready for an economic hurricane, as tighter monetary policy, inflation, and Russia's invasion of Ukraine pose ongoing risks, and futures are lower.

This morning, SMP future years down seventeen points down futures down a hundred thirty two and nashdaic Future is down sixty ten year treasury up six thirties seconds, the yield three point one percent, and the yield on the two year two point seven one and straight ahead, your latest local headlines plus the check of sports and this is Bloomberg right, Thanks Karen. It's five oh seven on Wall Street. Were at sixty three degrees in Central Park. Already have

an accident in southbound Major Degan at Fordham Road. Details coming up in traffic. First, Michael Barr is back with us for a look at what else is going on in New York and around the world. Good morning, Michael, Good morning Nathan. New York Governor Kathy Oakle signed new gun reform legislation into law three weeks after ten people were killed in a mass shooting at a Buffalo supermarket

by a self proclaimed white supremacists. The bills will include banning anyone under the age of twenty one from buying or possessing a semi automatic rifle, as well as expanding current red flag walls to keep guns out of the hands of quote dangerous people. It just keeps hapening shots ring out. Flags come down and nothing ever changes except

here in New York. During the signing and Buffalo Governor Hokel says, New York legislators made the decision to be leaders when it comes to gun reform, rather than followers waiting on Washington, Mayor Adams praised the new gun laws in the state. The New York Mayor says, though, that more needs to be done to properly prosecute the criminals who commit the crimes, Because, he says, criminals, no, they won't face proper consequences. No one takes criminal justice seriously anymore.

These bad guys no longer take them seriously. They believe our criminal justice system is a laughing stock. Mayor Adams also says they have taken three thousand guns off the streets. A bipartisan group of lawmakers in Congress is trying to find common ground and pass new gun control legislation. Democratic negotiators see a deal could be completed this week. Democratic Senator Chris Murphy of Connecticut. Parents are scared, kids are

scared that they need progress. They need us to show that we care about what kids are going through UM and I'm hopeful that we'll get a deal. Senator Murphy says the proposals include enhanced background checks, the US war North Korea of a strong punishment if it conducts a nuclear test. It comes, as Washington and the United Nations watchdog Agency have said signs in the KP Young Yang

could soon set off its first atomic device. Since Global News twenty four hours a day on air and on Bloomberg Quicksad, powered by more than twenty journalists and analysts more than a hundred twenty countries. I'm Michael Barring. This is Bloomberg Naked. Thanks Michael, five oh nine on Wall Street. Time for the Bloomberg sports out there. Good morning, John Stash, Morning a to The Mets have the best record the nationally. They just split a four game series with the Dodgers,

who have the NL second best mark. Metro now in San Diego Padres, owners of the third best record. Mets took the series opener eleven to five, three runs of the first SNAM four in the ninth at Wardo Escobar, the hitting hero, four hits, including the home run he drove in six runs. Carlos Carrasco struck out ten, improved to seven and one. Yankees go over their Major League leading fort Win Tonight at Minnesota, they faced x Yanks, Gary Sanchez and Geo or Shella. Rangers now have two

games to one. Have game four at Tampa Bay tonight. We know who the winner of the series will play for the Stanley Cup. Back from the car, let's go tep talking great, it's start touring looking at and it don't have to go home, but your can't stay here because this party is almost k K s and Denver the call. He adds six five overtime win at Edmonton and captain four games swing. First time Colorado as reaching the Stanley Cup finals since two thousand one of the

Bruins fired their coach, Bruce Cassidy. He got into the playoffs sixth Greight years Phil Mickelson's first comments and four months he hasn't been playing golf. He says he needed time offer. Michelson made official that he is going to play the new Saudi Back Live Tour that starts next month in London. Michelson's that he's hopefully can Steel also

play PG eight tour events. He told Sports Illustrated his gambling has been reckless and embarrassing, and that he's been in therapy to try and deal with it, it was reported, and he once had forty million and gambling wantses. Greg Norman, runs the Live Tour, says he Tiger Woods was offered a nine figure amount to play, but he said no.

John stash Award bloom Brook Sports. Okay, John, thanks, you gotta sp Futures moving lower down by seventeen point Staff futures down a hundred thirty seven, Nastack futures down sixty

nine points ten. Your treasury is up seven thirty seconds with the old three point zero one percent held on the two year two point seven one the pound trading at one point to four nine eight against the dollar after Boris Johnson survives a confidence vote in the UK Parliament but just barely look at what snack for the future of Boris Johnson with Lizzie Burden of Bloomberg News coming up next Bloomberg eleven three oh weather partly the mostly sunny today with highs in the up for seventies.

Showers and storms likely tomorrow with the high near eight though storms will end during the morning Thursday, with the high near eighty degrees once again currently sixty four in Central Park. Markets, Headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quicktake. He's a Bloomberg Business Flash and I'm Cameron Moscow. European stocks are falling with u S stock index futures as central banks set on tightening policy,

fan growth fears, the dollars advancing, bon yields stabilizing. We checked the markets every fifteen minutes throughout the trading day on Bloomberg SMP future is down about eighteen points down. Futures down a hundred thirty four nasday, futures down seventy the decks in Germany's down nine tenths of upper sent Can your treasury of eight thirty seconds yield three percent?

They yield on a two year two point seven one percent nine max Screwed oil is falling down six tenths per cent, or sixty nine cents at a hundred seventeen eighty six cents in barrel comics called the third of a per cent or six dollars twenty cents at eighteen forty nine ninety an ounce. The euro one point six

eight five against the dollar. British found one point to five Oh shoo the yet is at one thirty two point six four and bitcoin this morning it's down almost six percent to twenty nine thousand, six hundred dollars as of Bloomberg Business Flash. Now Here's Michael Barrow with more on what's going on around the world. Munchael, Good morning,

Good morning, Karin. South Korea and US military's FLEW twenty fighter jet Silver waters off South Korea's western coast today and the show of force as a senior US official warned of a forceful response of North Korea goes ahead with its first nuclear test explosion since seventeen. Age limits and red flag laws are being discussed in Washington. Has a bipartisan group of senator looks for ways to curb the outbreak of gun violence in the nation, strengthening background checks.

Also on the table NHL Playoffs, the Avalanche beat the Oilers to advance to the Stanley Cup Final. Colorado will face either the Rangers or the Lightning, who play game for tonight. In baseball, they met some red Sox one Global News twenty four hours a day on here and on Bloomberg Quicktake, powered by more than journalists and analysts more than twenty countries. Hi Michael Barren, This is Bloomberg.

Nathan all right, Michael, thank you. It is five nineteen on Wall Street, live from the Bloomberg Interactive Brokers studios. This is Bloomberg day Break. Let's get more now on our top story this morning. Boris Johnson lives to see another day as UK Prime Minister, but after just getting by a confidence vote from his fellow Conservatives, the question now is how many more days will he live to see? Bloomberg television correspondent Lizzie Burden joins us now with more

on this. She is live from just outside the Prime Minister's residence at Number ten Downing Street. Lizzie, good morning. That is the big question of the day. How much longer is this going to be Boris Johnson's residents, given just how close the margin was among his conservatives, good morning, they think. Yeah. I'm outside number ten down In Street,

in the cabinets, meeting in their as les seat. This was the culmination of months of discontent over the party gate scandal, the cost of living crisis, and it's a year now until another vote like this can happen again. So Johnson's teams come out guns blazing, saying he wants to draw a line under party gate, But just look at the history books. Remember the reason may Margaret sacking. His predecessors lasted just six months and a day, respectively,

having won their own confidence votes. And this is actually a larger rebellion than they based in. And there were more rebels last night than Johnson's working majority in the House of Commons, clearly including some who were on the government payroll. So they may try to stall the government's legislies that under. Johnson may try to strengthen his hand by reshuffling his cabinet, but it's unlikely to be back

to business as usual for this government. Yeah, when you see just how narrow that the victory was, I mean just how divided does this leave Boris Johnson's Conservative Party And I mean how can you rally the party together given where things stand right now? Yeah, this is what's most worrying for him because the rebellion was so disparate.

It was young, old, north, south, left, right. Let it remains, it's not just one faction of the Conservative Party rebelling to be came and that is why if they came out of they know her in a surprise. Almost the lists of runners and writers to replace Boris Johnson is circulating. You've got ex Foreign tactically Jeremy Hunt's current foreign texretory lid Trust. They're the biggest name is floating at the moment.

So with this cabinet meeting now under way, Lizzie, you mentioned some of the potential names that could be vying to succeed Johnson here, can we be looking potentially at cabinet resignations following this vote? Potentially, But at the moment the big names are declaring their loyalty for Boris Johnson. The big risk, which would be a huge surprise, would be a Forrest Johnson called a general election. Now it would be a big gamble for him, but really that

all the market care about at this point. The other thing that they're looking ahead to are the local elections on June twenty three. You've got one in the southwest of England, one up north in Wakefield. Those have pretty sordid backdrops. You've got the MP in the Southwest was found watching pornography in the House of Commons, the one that's the North were convicted to sexual assault. And these backdrops do not make party date look good. Those seats

the Conservatives are expected to lose that. Interestingly, it should be less losing personally for Boris Johnson, now that he's got the voter confidence behind him. Got about a minute left here, Lizzie. As you know, Boris Johnson has managed to weather scandals in the past. Uh does this one

seem different the party Gate scandal. This is why Boris Johnson has been given the moniker, the priest Coublet, the tsslon manch able to come out of these scandals and crises smiling and singing them as who's going to carry on? But this seems like a very different moment. He heard the booze and he was walking up the steps to St. Paul Cathedral for the Queen's Platinum Jubilee service over the weekend,

the same booze that his empties will have heard. They will is consider their constituents full of sin its street parties over the weekends to the jubilee and heard the discontent among their constituents and the fact that his emp has voted against him showed that they do not believe he is the electoral aftet he want in t Thanks for this, Lizzie, good to have you on with us.

This morning, Lizzie burdon Bloomberg Television, UK government correspondent, joining us live from just outside Number ten, Downing Street, Whereas Lizzie mentioned, the UK Prime Minister Boris Johnson is holding a cabinet meeting after just barely surviving that confidence vote, with two hundred eleven of his fellow Conservatives voting to keep him in office, but a hundred forty eight voting against, a much thinner margin than past confidence votes that led

to departures for predecessors Theresa May and even Margaret Thatcher when you look back at UK history. Thanks again for joining us, Lizzie this morning. SMP futures right now down fifteen points down, futures down a hundred seventeen. Nastac features are lower by sixty one points. The tenure treasury is up eight thirty seconds, the yield three point zero one percent, and the yield on the two year right now two point seven one percent. Day with us. You're listening to

Bloomberg Daybreak Bloomberg eleven three oh weather. Sunshine today with the high near eighty degrees, we'll see showers and storms tomorrow with a high near eighty Those showers and storms will end during the morning Thursday, right now sixty three degrees in Central Park, broadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg E Living Freedom to Washington, d C, Bloomberg N one to Boston, Bloomberg one O six one to San Francisco, Bloomberg sixty to the country,

Sirius XM Cho one nine team, and around the globe the Bloomberg Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five thirty on Wall Street. Good morning. I'm Nathan Hagar and I'm Karin Moscow. We're just about four hours away from the open of US trading schedule. You have to date on the news you need to know at this hour. We begin with the latest on the future of Boris Johnson. The UK Prime Minister has managed a claim to power, surviving a confidence vote last night.

I'm grateful to colleagues. I'm grateful for the support they've given me and Boris Johnson's leadership was uncertain due to scandals and political challenges. The so called pandemic, Party Gate events and Downing Street anchored citizens, along with the cost of living crisis and tax increase. After the result, Johnson said it was time to get back to helping people

in the UK. We have a conclusion to something that's been dragging on for far too long, and we have the ability night to unite, to live and get on with the people's priorities, and that is what we're gonna do. Boris Johnson received two d votes in a confidence motion and one hundred forty eight against him. We'll turning to the war in Ukraine, Karen. Russia has banned dozens of US officials from entering the country, while Ukraine is looking for ways to restart grain exports from ports that have

been blocked by Russia's military. Treasury Secretary Janet Yelling and Black Rock CEO Larry Fink are among those now banned from Russia. Back in the US, Nathan, we're watching primary races in New Jersey and California. Crime is in focus and the Los Angeles mayoral race as well as San Francisco's District attorney recall election, and there are some tight house races in New Jersey. There were also primaries tonight

in five other states. Now the market's Karen. European stocks fell with US futures a tiny policy fans growth fears. The European Central Bank is set to curb asset purchases this week and moved toward exiting years of negative interest rates. Meanwhile, in Asia, stocks were mixed as investors assess the impact of a jump in treasury yields and incorporate news. Nathan deal or no deal, it looks like Elon Musk buyer's remorse will not get him out of his acquisition of Twitter.

We get the latest live from Bloomberg's Rea need a young, We need a good morning, Good morning, Karen. Elon Musk is reviving his argument that Twitter has a serious bot problem, and he's threatening to walk away from the deal if the social media giant does not do more to prove that its users are real people. But Bloomberg sources say behind the scenes, the deal is proceeding, and it's possible that Twitter could try to sue Musk to complete the deal if he tries to walk away. Live in New York,

I'm rened a young Bloomberg Day break. All right, we need to thank you, SMP. Future is down twelve points this morning. Down. Future is down naughty five nowsday. Future is down fifty two and a ten year treasury up seven thirty seconds held three point one percent yield on the two year two point seven one cent and straight ahead.

Your latest local headlines, plus a check of sports and this is Bloomberg sixte on Wall Street, sixtygrees in Central Park of crashes in the southbound Harlem River Drive at the g w B. Michael Barr has more on what's going on in New York and around the world. Michael, thank you very much. Nathan. New York Governor Kathy Hocle signed new gun reform legislation into law three weeks after ten people were killed in the mass shooting in a

Buffalo supermarket by a self proclaimed white supremacist. The bills will include benning anyone under the age of twenty one from buying or possessing a semi automatic rifle, as well as expanding current red flag laws to keep guns out of the hands of quote dangerous people. No eighteen year old can walk it on their birthday and walk out. Those days are over. Those days are over. You hear

that those days are over? Governor huncle New York City Mayor Eric Adams, who praised the state's new gun laws, as his city has also seen a rash of gun violence, but that police have been working to find those responsible. But Adams says that more needs to be done to properly prosecute the criminals who commit the crimes. If we do the work to get it to the grand jury, to get that indictment, to make the arrests, then the other team must do their part the course after prosecute.

Mayor Adams says, so far they have taken about three thousand guns off the streets. Age limits and red flag laws are being discussed in Washington as a bipartisan group of senators looks for ways to curb the outbreak of gun violence in the nation. Democratic Representative Chris Murphy of Connecticut, my goal is to reach an agreement by the end of the week. We've got more Revulgans and Democrats sitting together than ever before since Sandy Hook. What we're talking

about is substantial um. It will save lives, Representative Murphy says. Strengthening background checks is also on the table. US prosecutors have strength and charges against five members of the right wing extremist group the Proud Boys at its discious Conspiracy for actions they took in advance of the deadly January sixth riot at the US Capitol. Global News twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than journalists and analysts more than a

hundred twenty countries. Michael Barr and this is Bloomberg, Nathan, thank you my call on Wall Street and Stan Shires the Bloomberg Sports Update, All right, Anathan. The Mets third strade went out West after two in l A. They won in San Diego eleven to five as Eduardo Escobar had four hits and when the two run home and he had six RBIs Carlos Carrasco ten strikeouts and seventies. He's now seven and one in the Mets at thirty eight and nineteen have won two thirds of their game.

Yankees winners of their last sixth plate Tonight at Minnesota, Battle of A L Division leaders Red Sox won one nothing to move over five hundred. Michael Waka bested Noah synder Guard. It's the Angels twelve loss in a row. The Colorado Avalanche will play for the Stanley Cup. They have been dominant in the West, twelve wins only two losses. They finished a sweep of Edmonton, winning a wild game four six five on a goal a minute nineteen into overtime.

I've scored four times in the third period. This will be their first Cup finals since they won the Cup in two thousand one. They'll play either the Rangers or the Lightning Tampa Bay just one game three, cutting the ranger of lead to two one. Yesterday, Rangers coach Gerard Gleant looked aheads at a night Steen. You know, you've got to get ready for one game at a time, as I always say, and uh Okamo is a huge game force. We gotta compete and we've got a battle.

We've got to play a little good here than we did last game, but there was a lot of good things and you know, keep playing a game, keep working hard, and like I said, it's two two or three one, so let's see where it goes. And the Rangers went

on the road in the playoffs. They're eight and one at home, but they're just two and six away from the Garden Super Bowl champion l a Rams have locked up their star on defense a rework deal with Aaron Donald, where he's now guaranteed ninety five million dollars over the next three years. That's the most for a non quarterback. John stash Our, Bloomberg Sports. Thank you, John. It is thirty seven on Wall Street. Time for the Tri State

Business her part. Here's Bloomberg's head Cory. Sales begin this week at a long installed Manhattan condo project new developers helped to move ahead after a name change. The West Chelsea project is being rebranded as One high Line, a nod to the park that crosses over the site. A hotel near the heart of Times Square is set to reopen after closing two years ago, the latest sign that

inventors are betting on the neighborhood's comeback. Sources tell Dow Jones, Apollo Global, and New Bond Holdings have agreed to buy the Hilton Times Square for about eighty five million dollars. New York employers statewide would have to provide a pay range in job ads under legislation headed to Governor Kathy Hockel's desk. The bill would impose salary disclosure requirements similar to those recently enacted in New York City and Washington State.

That your Bloomberg Try State Business Report. I'm Ed Corey. Thanks that it's just about 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. Here down our three hundred affiliate radio stations around the world. I'm Steve Potas don K and X in Los Angeles.

We're talking about Fisher Price joining the rest of matel and it's playback toy take back program to reuse toymaking materials. Corney Donahoe on Carol Dan Dallas nursing homes are facing closure from staffing shortage of kid Gina Serretti and for Goosebs in San Francisco. I'm reporting that Apple unveiled a bunch of new software features and services at its Worldwide Developers Conference, including a buy now, Pay later feature. I'm

Carolyn headcom Blue Bag, dab dishal Medio in London. We've been reporting on the pressure on Boys Johnson after a hundred and forty eight of his own party's MP's voted against him in a challenge to his leadership of the Conservative Party. I Bede Corey on w T A M

in Cleveland. I'm reporting a developer has paid four and a half million dollars to Bobby United Church of Prices longtime headquarters in downtown of Cleveland, 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. The West has united in opposition

to Russia's invasion of Ukraine. The developing world not so much. Instead, many government into in Africa, Asia, and Latin America have made a point of not taking sides. Such countries see the war in Ukraine as a proxy fight between Moscow and Washington, when where they have little at stake, the US must persuade them that their interests would be better served by aligning with the West. It can start by offering prompt and generous support for countries struggling with war

related food and energy disruptions. It should also improve its messaging, for example, by framing the conflict not as a campaign to punish an autocratic Russia, but as an effort to aid Ukraine's fight for self determination. A powerful nation started this war by scorning sovereign borders. That's a threat all countries, regardless of wealth, can recognize. This editorial was written by

the Bloomberg Opinion Editorial Board. I'm David Shipley. For more Bloomberg opinion, please go to Bloomberg dot com, slash Opinion or opang on the Bloomberg terminal. This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials every week day. At this time, terminal customers can read more at op I end go SMP futures down fifteen points now futures are lowered by a hundred eighteen nastack futures down sixty five points ten.

Your treasury is up six thirty seconds. The yield three point zero one percent yield on the two year two point seven one. This is Bloomberg Bloomberg eleven three oh weather. Sunshine and upper seventies today, showers and storms at a high near eighty Tomorrow. Those showers and storms will end during the morning Thursday, with the high near eighty degrees

once again. Currently sixty three in Central Park markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com The Bloomberg Business at end at Bloomberg quick tape. He's a Bloomberg business flash and I'm Karen Moscow. European stocks falling along with US stock index futures as central bank set on tightening policy fan growth fear. So we checked the markets every fifteen minutes throughout the trading day.

On Bloomberg SMP Future is down about nineteen points this morning, dew Future is down a hundred thirty five Nowsday Future is down about seventy six. The decks in Germany's down nine tenths of uppercent ten year treasury up six thirty seconds. He'll three point one percent, and they yield on a

two year two point seven one percent. Nine neck screwed oils down a third percent or forty one cents, and a hundred eighteen dollars eight cents of barrel comic schooled up a third of upper cent or six dollars at eighteen forty nine seventy announce. The euro one point oh six eight five against the dollar, British found one point to five oh six and the yen one thirty two point six eight and Bitcoin this morning is falling down about six percent at twenty nine thousand, five hundred sixty

dollars as of Bloomberg Business Flash. Now here's Michael Bar with more and what's going on around the world. Michael Karen, thank you very much, bipartisan group of Senators. As a new nationwide gun legislation could come by the end of the week, it would likely send her around a proposal that includes enhanced background check. British Prime Minister Boars Johnson survived the no confidence vote, securing enough support from his

Conservative party to remain in office. Johnson faced revelations that he held parties that flouted the COVID nineteen restrictions. In the NHL Playoffs, the Avalanche beat the Oilers to advance to the Stanley Cup Final. Colorado will face the Rangers or the Lightning who played game for tonight in baseball. The Madson Red Sox one Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalist and analysts and more

than one countries. Michael Barr, this is Bloomberg. Nathan alright, Michael, thanks for coming up to five forty nine on Wall Street Life from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak on what you could call a primary super Tuesday, voters are heading to the polls in seven states, led by New Jersey and California, making this the busiest day of voting before everyone heads to the polls in the

general election coming up on November fifth. Bloomberg Government Congression reporter Jack Fitzpatrick is with us now from our Bloomberg studios in Washington, d C. Look at some of the races to watch this morning. Jack, good to have you with us. Let's move east to west just for fun and start New Jersey because we've got quite a lot of Republicans running in what had been a fairly strong blue state in the Garden State. Yes, well, you know, the anticipation that this is gonna be a strong year

for Republicans probably plays into that. Uh. And of course this isn't just about running statewide. You know, New New Jersey's got districts that are very competitive if you're looking toward the general election. Uh. Tom Malinowski and Josh Gottheimer are some obvious targets for Republicans. It's gonna be interesting to see who wins the Republican primary against Gottheimer. There may be a rematch with the investment banker Frank Pellatta

that Gottheimer had previously beat. There's another candidate, a Marine Corps veteran Nick Dick Gregorio running Malanowski looks to have a rematch with someoney he previously beat. But of course two is not. It's a much more challenging atmosphere for Democrats. And uh, yeah, if you are a Republican considering running in a swing district, now would be the time to do it, including in a blue state like New Jersey. How much is redistricting playing into how Republicans feel about

their chances in New Jersey? Uh? You know that can be challenging all over the country. There are there are areas where in some cases the the numbers in the partisan breakdown changes. But you can also be a challenge for people who are representing just new uh new constituents.

UM and and if you if you need to win over people who you haven't had a previous representation relationship with, UH, then that that can be a challenge, even if it doesn't entirely change uh, the the trajectory of a swing district. You know they're in New Jersey. That's been a factor there were uh members sort of bumping up against each other. It's an issue in some of the California races as well,

where UH there's some members who are facing largely new districts. UM. But really, I think the overriding factor is, especially for Republicans, the expectation that these mid terms are going to be a really strong showing for Republicans. Since you mentioned California, let's go there because one race to watch in particular, UH is a Republican who was one of the few who voted to impeach former President Trump last year. Yes,

David Valadeo, who's a really interesting person to watch. He lost in ten he won, He's one of the six Republicans in the House to vote to impeach the the then president Donald Trump. Uh. It's a little surprising there hasn't been more pushed back from Trump on him. There are a couple Republicans running against him. There's a self funding cattle rancher. Uh. There's an immigrant who owns a

salon from Portugal. Uh. There there there's a push from Republicans, Yes, but it's not something that Trump himself has been very vocal on. Uh. And it may be even more interesting when it gets to the general election because he represents an area that largely went for Biden by you know, more than a ten percentage point uh swing. Of course,

stronger year for Republicans. Yes, but this is actually one of the few cases in which Democrats would at least like to make an attempt to unseat a Republican in the lesson a minute left here, Jack, But law and order looks like it's playing as a major theme in California in the Los Angeles mayor's race, as well as

an effort to recall the district attorney in San Francisco. Yeah, you've got a progressive district attorney, Jasa Boden Uh in San Francis School, San Francisco, who faces a recall election. Part of that, you know, the the easy route to getting a recall election in California plays into that there hasn't been a massive amount of polling. But it does sort of raise the specter of maybe a pushback in recent years in local candidates who have not gone exactly

the the law and order route. You look at Eric Adams winning in New York. Uh, It's it's a little bit of a more challenging time for the progressive Democrats who are looking to be more reform minded about incarceration, even in a place like San Francisco. All right, Jack Fitzpatrick, A Bloomberg government with a preview of the primary election race is happening across the country. Karen, all right, Nathan,

thank you. It is five fifty three on Wall Street and it's time now 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 d r dot org. Now to a legal story where following this morning, another weekend of gun violence has at least nine people dead in mass shootings in Pennsylvania, Virginia, Arizona, and South Carolina. While bypartisan group of lawmakers are looking for solutions on gun violence. The last time Congress even came close to passing substantial gun reform, which in the wake of the Sandy Hook massacre in twelve so some states like New York and California are stepping into the void.

New York's Governor Kathy Hugel signed a packet of gun control bills into law on Monday, three weeks after the mass shooting in a Buffalo supermarket. For more, Bloomberg student Grasso speaks to Second Amendment expert Adam Winkler, a professor at u c l A Law School. I was surprised to read that in two thousand three, Vermont was the only state that allowed residents to carry handguns in public without a permit. Since then, legislatures in half the states

have removed permitting requirements, mostly involving and field firearms. So is the battleground in the states. Well, the battleground over gun reform has been in the states for the last years or so ever. Since the federal government failed to act after new Town gun safety reform, advocates have turned their attention to the state to try to get legislation to close up some of the loopholes in federal law

at the state level. So states like California and New York, for instance, have passed legislation over the last ten years doing things like making universal background checks the norm in those states, restricting high capacity magazines, or restricting military style rifles. We have seen states take up the mantle of gun reform,

and I think we're likely to see that continue. I know that California lawmakers are pondering a set of new pieces of gun legislation, new gun reforms that would make it easier, for instance, to sue gunmakers when their firearms are used to commit mass murder. The difficult thing at the state level is that you have a large number of states that are very strongly pro gun, and if anything, they're likely to loosen their laws, as we've seen happen

in state after state. I want to go to the idea of raising the age to buy a gun from eighteen to twenty one. Republican Congressman Jim Jordan's has said that that's unconstitutional. It's not clear that it would be unconstitutional to raise the gun age. Of course, the Supreme

Court hasn't said anything about that. There was recently a case out of the Ninth Circuit that did say that California's effort to raise the gun age for purchasing various kinds of semi automatic center fire rifles was unconstitutional, and the Ninth Circuit judge argued that this was unconstitutional because the founders relied on eighteen year old to be members of the militia and so trusted them with firearms, and nonetheless think there are good reasons to raise the gun age,

and I've argued for doing so in the past. Part of the problem with arming people who are between the ages of eighteen and twenty is that brain development is not that advance when it comes to issues like understanding long term consequences of behavior, resisting impulsive behavior, and that part of the brain, scientists of polist isn't fully developed until about the age of five. And that's Adam Winkler, a professor at u c l A Law School, speaking

at the Bloomberg stun Garasso. Catch more of that interview, plus analysis of the latest legal news, by subscribing to the Bloomberg Law podcast or downloading the show at Bloomberg dot com slash podcasts. Attorneys can find exceptional legal research and business development tools at Bloomberg Law dot com and on the Bloomberg terminal at b Law Go and Bloomberg Day Break continues. This is Bloomberg