Bloomberg Daybreak: March 22, 2022 - Hour 1 (Radio)

nominee Jackson faces senator's questions today. I'm Michael Barer, More Ahead, I'm John Stashdower in Sports Capita Rant and the NAT's beat the Jazz in Brooklyn, and another big name quarterback

is on the move. That's all straight ahead on Bloomberg day Break on Bloomberg eleven Trio, New York, Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x M one nineteen and around the world on Bloomberg Radio dot Com and via The Bloomberg Business. That good morning, I'm John Tucker. I'm Nathan Hagar. Futures

are moving higher on this Tuesday morning. We're coming up to five oh one on Wall Street, and we checked the markets every fifteen minutes during the trading day on Bloomberg. Right now, SMP futures are up by seventeen point staff features of a hundred forty five, NASTAC features up sixty five points. The decks in Germany have eight tenths of one percent. The tenure treasury is down fourteen thirty seconds. The yield two point three four percent yield on the

two year two point one seven. Nimex crude is down seven tenths per cent, or eighty two cents at a hundred eleven dollars thirty cents. A barrel comes called down a third of one percent, down six dollars thirty cents at nine fifty an ounce. The euro is at one point one zero zero five against the dollar. The end is at one twenty four eight. John Nathan will have more on the markets in a minute, but first, new

developments involving the war. Ukraine's president says he's ready to discuss a deal with Russia in makes change for US cease fire. Amy Morris has details from our Bloomberg room in Washington. Ukrainian President voladimir's Lensky said late last night he is prepared to discuss a commitment from Ukraine not to seek NATO membership in exchange for a cease fire, the withdrawal of Russian troops, and to guarantee of Ukraine's security.

He called it a compromise for everyone. He also repeated his skull for direct talks with Russian President Vladimir Putin, saying that unless he meets with him personally, it's impossible to know if Russia even wants to stop the war. In Washington, I maybe Morris Bloomberg daybreak, All right, Amy, thank you. President Zelensky says Ukrainian forces are still holding Russian troops at bayon several funds. Retired US Navy Commander

Ward Carol says Ukraine has remained resilient. I can tell you from the legend of the Ghost of Kiev to the other things that they've done against overwhelming odds. Their air force has shown itself to be very capable. Retired Navy Commander Award Carol spoke with our Washington correspondent Joe matth You on Bloomberg Sound on. Catch the program weekdays

at five pm Eastern on Bloomberg Radio. Meantime, the White House says Russian President Vladimir Putin's back is against the wall, and President Biden tells business leaders that makes him even more dangerous. He's suggesting Putin may soon use chemical weapons. More in this report from Bloomberg's Ad Baxter, Biden, in front of the Business Roundtable CEO quarterly meeting, said Putin is already sending up false flags about chemical weapons, saying

the US has used them as well. They're also suggesting that Ukraine has biological and chemical weapons in Ukraine. That's a clear sign he's considering using both of those. He's already used chemical weapons in the past, and we should be careful. What about it's about to come. Biden says the US does not use chemical weapons, and the President also warned up a potential of increased cyber attacks in San Francisco. I'm at Baxter Bloomberg Day Break. All right,

and thank you. Another major story where following brings us to yesterday's crash of a Boeing plane in China. All one thirty two people on border believed dead. The cause of the crash is still unknown. Experts remained baffled by the planes nose dive from twenty nine thousand feet. Bloomberg Stephen Angel has the latest from Hong Kong. She didn't thing. The President of China said he's calling for an all

out investigation. They have found part of the wreckage. We just don't know how this accident happened on a flight from Kunming to guang Joe that was already just about to descend to Guangzhoe. It's very different from the Max accidents in Indonesia and in Ethiopia. Bloomberg Stephen Angle says the China Eastern Airlines crashes China's worst commercial aviation accident

in more than a decade. Turning to the markets, now, a sell office in bonds is deepening and defends heare j Pale struck a more hawkish tone on his campaign against high inflation. You know, the expectation going into this year was that we would see basically see inflation peaking in the first quarter, then maybe leveling out, and then see a lot of progress in the second half. That story has already fallen, apart to the extend it continues

to fall apart. My colleagues and I may well reach the conclusion that will need to move more quickly, and if so, we'll do so. Cheer palsas the FED is prepared to raise interest rates by half a point at

the next policy meeting if needed. Tracy McMillan has had a global asset allocations strategy at Wells Fargo, preparing the markets for a really tough inflation fight, and so that means we're going to see higher yields, and we are seeing those higher yields in the front end of the curve where the FED really has more of an impact. Wells Fargo's Tracy McMillan says she prefers equities over fixed

the income at the moment. Well we'll have much more in the future of interest rates and the fight against inflation. Later this morning, General will speak live with St. Louis FED President Jim Bullard. Stay tuned for that conversation coming up at a thirty a m. Wall Street time on Bloomberg Radio and television. And overnight we saw the bond sell off spread to Asias. Acts of the region gained

as the bonds fell. Let's get the recap from Bloomberg's Juliet Sally and Singapore, Good morning, Julia, good morning John and Nathan Australia, and yields here higher since twenty eighteen. On the tenure note, while the Keywi equivalent was at a five year high. The yield differential between the US and Japan pushed the yen to a six year low,

boosting Japanese equities, which returned from a long weekend. The Negate two to five rows one and a half percent in Tokyo to post its sixth consecutive session of games, the longest streak since September, and Ali Baba shares gain nearly ten percent in Hong Kong as the tech giant increased its shared buy back program to twenty five billion from fifteen billion dollars in Singapore. Juliet Sally Bloomberg daybreak,

all right, Juliette, thank you. And on the earnings front this morning, shares of Nike are up nearly six percent. In early training companies quarterly results top estimates. Revenue outpaced expectations in all regions, including Greater China, where sales fell less than predicted. Right now, s and P futures are up seventeen point. Staff futures up a hundred fifth one. Nastic futures are hired by sixty four points. The tenure

treasury is down fifteen thirty seconds. The yield two point three nimex crewed down seven tenth percent or eighty two cents at a hundred eleven dollars thirty cents of barrel. Straight ahead, your latest local headlines and a check of sports. This is Bloomberg alright, Thanks Nathan, five oh seven Old Wall Street Camps and to bring in Michael Barr with more on what else is going on in New York and around the world. John, thank you very much. We

have breaking news. Russian opposition leader in jailed Kremlin critic Alexia Novaldi was found guilty of fraud today Moscow court convicted of all knew over allegations he stole from his anti corruption foundation. Prosecutors win a thirteen year prison sentence. New York's top health official is talking about the latest new omicron sub variant. It is growing more prevalent in the state. State Health Commissioner Mary Bassett. We don't expect to see a steep surge in cases in New York

State UH at the moment. B A two comprises about forty two of all the cases here in the state. Governor Kathy Hokel also spoke with Health Commissioner Massett. We have not focused as a nation as much on the treatment capabilities. You should at first sign of symptoms let your doctor know so you can start getting the treatments that can stop the circumstances from getting worse. Governor HOCl says New York averaged around twenty one new COVID nineteen cases per day last week. That is up from the

previous week. Donald Trump's lawyers say a New York judge abused his discretion with a decision last month requiring the former president to answer questions under oath and a civil investigation into his business practices and papers filed in a state appeals court. Trump's lawyers said the judge failed properly weigh constitutional and ethical concerns that they'd raise about New

York Attorney General Latisia James's investigation. Judge Coltanji Brown Jackson faces questioning in her second day of Supreme Court confirmation hearings today. Jackson gave her opening remarks yesterday before the Senate Judiciary Committee. I have been a judge for nearly a decade now, and I take that responsibility and my

duty to be independent very seriously. Democrats likely have the votes needed to confirm Judge Jackson on their own Global news twenty four hours a day on air and on Bloomberg Quick Take power by more than journalists and analysts more than a hundred twenty countries. Him Michael Barrn, this is Bloomberg. John all right, Michael, thank you very much. And it's kind of got a pot semma of ball Street Timetown with the Boomberg Sports Upday. Good morning, johns ssh,

A morning John Peck. Are you even with Tom Brady's unretirement, Aaron Rodgers remaining in Green Bay. It's been studying how many big name quarterbacks have been traded. Russell Wilson to Denver, Shawn Watson that Cleveland, now, Matt Ryan to Indianapolis. He was in Atlanta for fourteen years. Once the NFL's MVP with the Colts, he'll replace Carson Wentz, who was traded to Washington a year after Wentz was traded to India. The Falcon's Duke qub will apparently be Marcus Mariota back

up the last two seasons in Las Vegas. He signed as a free agent in Brooklyn. Next met the Jazz one fourteen one oh six Kevin Rant and led the way thirty seven points, nine rebounds. Ada says home game at No. Kyrie, Irvan and Ben Simmons still has not made his next debut at with a herniated disc. His coaches need Nat and we saw hope that he can come back. He's had moments during years rehab where he's on the court doing some things, so it looks like he's about to turn a corner and then there's a

little setback. So I still feel optimistic that he can play for US. Mixed Tonight host Atlanta Rangers visit The Devil's Kevin Willard, the coach Seaton Hall the last twelve years, leaving to take over at Maryland, leading to some rather obvious speculation that he'll be replaced by Shaheen Holloway, former Seaton Hall player who has coached St. Peter's to the n C Double A S sixteen in Port St. Lucy.

New Mets manager Buff Show, Walter Watts, New Mett picture Max Jerser called it as advertised five innings for sure, Zorillages, one run, Mets lost to the Marlin, three nothing Nankees and Tampa five two of the Phillies. Three pictures. Who could be in the rotation Jamison, tyn Est Cortez and Michael King, all with two school Listen Johns catch bloom

Big Sports, John John, thanks very much. Ahead of the cash open on Wall Street futures right now in the green the down futures of one hundred fifty three points. That's a rise of four tensive a percent. The S and P even the future is up nineteen points, that's a fourth tensive a percent, and right now the NASTAC futures up seventy one points, up half a percent. As far as treasuries after the marks by fed Share J. Powell yesterday, the spread between the two and tenure treasuries

right now just fifteen basis points. The tenure at two point three four percent, that is up five basis points. The two year yield right now two point one eight percent. You're listening to Bloomberg Day Boom. The situation on the ground in Ukraine appears to be growing more desperate. We'll get an update from Bloomberg Executive editor for International Government

Ronsal and Mathison. That is straight ahead. You're listening to Bloomberg Daybreak, Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Atland at Bloomberg Quick tap, this is a Bloomberg Business Flash. Nathan Hager stocks are climbing as a sell off in bonds deep ends after Federal Reserve share Jerome Pal signal to Central Bank will take more aggressive measures to clamp down on inflation. To check the markets every fifteen minutes

during the trading day on Bloomberg. Right now, as in p futures are up nineteen points, Stown futures up a hundred sixty two, nast Act futures on the rise by seventy points. The tenure Treasury is down seven teen thirty seconds. The yield two point three five percent. You'll down the two year two point one nine. Nime X Screwed is down two point two per cent or two dollars forty two cents now at a hundred nine dollars seventy cents.

Apparel come X Gold is down two tenths per cent or four dollars fifty cents at nineteen thirty thirty announced the euro one point one zero zero nine against the dollar British pound one point three zero. The end is at one twenty point four seven. At ten ann Wall Street time, we get the Richmond Fed Manufacturing Index and Carnival and Adobe are among companies scheduled to report earnings today. That's a Bloomberg business flash. Now here's Michael Barr with

more on what's going on around the world. Good morning, Michael, Good morning Nathan. Ukrainian President Volodimir Zelenski is set to virtually deliver his address to the Japanese Parliament to raalley international support for his country's fight against the Russian invasion. Zelenski has made virtual addresses to the US Congress, as

well as parliaments in Europe, Canada and Israel. The Russian Gord has found jailed Kremlin critic Alexi Novaldy guilty of large scale rawd Valdi is already serving a more than two years sentence in prison for parole violations. He says,

we're fabricated. In the NBA of the Nats and Celtics one, the Wizards lost in the NHL, the Bruins beat the Canadians in overtime three two Global News twenty four hours a day on here and on Bloomberg Quick Tank, powered by more than seven hundred journalist and analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg, John, Michael, thank you, coming up on five twenty on Wall Street, and we are lying from the Bloomberg Interact of Brokers Studios.

This is Bloomberg Daybreak. The President Vladimir Zolinski says Ukrainian forces still holding Russian troops at bay as there may be signs that Russia is growing more desperate. We're joined the albuying Bloomberg Executive editor for International Government Rosalind Matheson for an update on the war in Ukraine. Ross Let's start off with the situation on the ground. What is

the update. Well, we're seeing over night showing again as always by Russia in various parts of the country, a bit to the west and some places in the north, and again the situation in the south of Ukraine increasingly desperate.

Reports that those humanitarian corridors only held for a very short time yesterday, Ukraine accusing Russian troops of firing on convoys of people as they're trying to leave some of those cities Mary Paul and other cities in the area and trying to block them from getting out, and saying

that the situation inside those cities is increasingly desperate. Of course, Ukrainian troops are unable to cross the open land that we're required for them to get to Mariopold to try and break the siege directly, so they can't do that at the moment. They're just trying to convince Russia to allow enough of a pause in the fighting for people to properly leave. There are still at least tens of thousands of people there, so the humanitarian situations certainly is deteriorating.

In terms of the actual conflict, there are signs that Russian troops are simply largely staying put where they are. They're trying to reinforce their positions. They're using landmines around themselves and so on, and they're not attempting to push forward,

and that's really leaving the conflict in the aerial phase. Still, bombardment of cities again, overnight, bombardment of sites in the northwest and in the southeast are there signs that the Russian army is growing more desperate there are certainly reports, at least from the Ukraine side, that there are signs

that Russian troops are losing their morale um. They're certainly struggling in some areas, it seems, to access fuel, to access food, and of course, given that they have very close ties to Ukraine, many of them themselves, either through family, through culture and history, that it doesn't go beyond belief to think that some Russian troops at least would be very reluctant to fight, particularly those have been conscripted and sent in for example, do they really want to be there?

And so Ukraine is saying that they're seeing evidence some of those troops really are demoralized, not wanting to fight face to face, and again that sort suggest why Russia is instead trying to rely on things like missiles and rocket attacks. What's the significance of the use of these hypersonic weapons. Well, they are more targeted at least, they tend to be better at hitting what they're aiming for.

And they're being used so far, at least in terms of cruise missiles and longer range missiles purely at military targets, so airports, things near airfields, weapons cases, those sorts of things, training centers, so sort of targeting, trying to hit key parts of the Ukraine military infrastructure. And they're enabled to be fired from Russia or Yelarus, for example. They don't have to be fired from within Ukraine. They're also a

lot harder for Ukraine to to shoot down. They're very successful so far at shooting down airplanes and transport aircraft and its attacking tanks and so on, but missiles are another thing entirely. They fly at such high altitudes it's impossible for Ukraine to hit them. On the other hand, it also does show again the level of frustration that's probably creeping in to the Russian machinery here about their lack of progress on the ground that they're having to

resort to using those kinds of missiles. And what is happening on the diplomatic front. Well, we have the Ukrainian President addressing the Italian parliament today. We're expecting a similar plea for further military aid. Certainly you can see that Ukraine needs at some point to get some extra aeroplanes that they have been losing their own fighter jets in this conflict, and he may plead for that again. He

may call for direct nature intervention. Again, of course NATO says it cannot do that um and he may repeat his call for direct talks with the Russian president. He has said repeatedly that the only way that there can be any sort of agreement more broadly on this conflict is for the two leaders to speak one on one. So far, that's there's been no signs that the Russian

President is willing to entertain that. But perhaps as we get more meat on the bones of a possible agreement at the lower level, that will shift up to have that conversation. But certainly you can expect him to call again on the Russian president to talk to him directly. Thirty seconds left. What happens at the European Unions summit this week, Well, there'll be a lot of shows of unity and again like that that front against Russia across not just later but the US, other countries and so on.

There could be some discussion where the US is leaning on Europe to do more on the sanctions funt protected, particularly when it comes to oil and gas, the potential oil embargo. We do not expect that to come on the table as a formal discussion at this point. Europe is highly reluctant to do so with the oil, but you can expect a little bit of pressure about from the US coming through the President's visit to Brussels. Laugh

this week. Thanks very much appreciated, Bloomberg Executive editor for International Government, Rosalind Matheson ahead of the cash open on Wall Street. Futures in the green right now, hasn't the EMUNI futures fifteen points higher the doll Emuni futures. I've wanted a twenty seven points nastal futures right now of fift four points. You're listening to Bloomberg day Break. The Bloomberg Weather for brod Caroline, clouds and some sunset, especially

north of the city. High temperature about sixty tomorrow, cloudy, cooler showers developing during the afternoon behind temperature about fifty degrees. Broadcasting live from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston, Bloomberg one oh six one to San Francisco, Bloomberg Non sixty to the Country, Sirius XM to the one nineteen and around the globe to Bloomberg Business apt in Bloomberg

Radio dot Com. This is Bloomberg Daybreak. It's five thirty on Wall Street. Good morning. I'm John Tucker and I'm Nathan Hager. We're about four hours away from the open of US trading. Let's catch you up to date on the news you need to know at this hour a lot of her Zelenski says Ukrainian forces are still holding Russian troops at bay. He is also indicating his nation would hold a referendum on the terms of any potential

peace agreement. Zelenski addresses the Italian parliament this morning. Meantime, Russia, President Biden says Russia's use of hypersonic missiles against Ukraine is a sign that President Vladimir Putin is growing desperate. Now the President's warning about possible cyber attacks, They've just launched the hypersonic missile because it's the only thing that

they can get through with an absolute certainty. He was an anticipating in the extent or strength of our unity, and the more his back is against the wall, the greater severity of the tactics he may employ. President Biden is asking the US private sector to quote harden your cyber defense immediately well. Meantime, John in China, investigators are trying to figure out why a China Eastern Airlines Boeing

jet suddenly fell from the sky. The crash is believed to have killed all one hundred thirty two people on board. In response, China Eastern's grounded its fleet of Boeing seven hundreds, and turning to the market, says sell often bonds is deepening After the FED share Jpal struck a more hawkish toll of the central banks campaign against inflation. He's opening the door to a fifty basis point hike at the Central Banks upcoming meetings. We will take the necessary steps

to ensure a return to price stability. In particular, if we conclude it is appropriate to move more aggressively by raising the federal funds rate by more than twenty five basis point at a meeting or meetings, we will do so. And if we determine that we need to tighten beyond common measures of neutral into a more restrictive stance, will do that as well. J Pal and other Fed officials issue their next policy decision on May fourth. Say tuned for more on the Fed this morning when we speak

live with St. Louis President Jim Bullard. Catch that conversation at eight thirty am Wall Street Time of Bloomberg Radio and Television and on the Earning Strent this morning, John, Shares of Nike are up nearly six percent in early training. The company's quarterly results, top estimates and revenue outpaced expectations in all regions, including Greater China, where sales fell less

than predicted. SMP futures are higher by thirteen points right now, Dow futures up a hundred twenty, NASTAC futures on the rise by forty eight points. The tenure treasury is down fifteen thirty seconds. The yield two point three nime X screwed is down at two point two or two forty two cents and a hundred nine dollars seventy cents of barrel. The euro right now one point one zero zero five against the dollar. Straight ahead, your latest local headlines, and

a check of sports. This is Bloomberg. Thanks Nathan. Five thirty three on Wall Street Time to bring in Michael Barr with more on what else was going on to New York and around the world. John, Thank you very much, sir, New York's top health official is talking about the latest new omeicron subvariant growing in the state. State Health Commissioner Mary Bassett, we don't expect to see a steep surge in cases in New York State. UH At the moment of the A two comprises about forty two percent of

all the cases here in the state. Health commission of Bassett says though New York State averaged around twenty one new COVID nineteen cases per day last week, that is up thirty two from the previous week. New York Governor Kathy Hokel, I just want everyone to know that we've never taken our foot off the gas when it comes to our preparedness for dealing with this pandemic. We never had a high five moments that it's over. We're in

a new phase. We've been adapting to the circumstances and reopening in a way that I still believe should continue. That's an important point to make. Governor Hokel says. The number of patients hospitalized with COVID nineteen in New York has fallen from twelve thousand, seven hundred in early January to around nine hundred. A Russian court has found jailed Kremlin critic Alexi Novalty guilty of large scale fraud. Vivaldi is already serving more than two years sentence in prison

for parole violations. Of all the says the cases were fabricated. Supreme Court nominique Katangi Brown Jackson will face senators questions during confirmation hearings to become the only black female justice in the Court's history. Yesterday, Judge Jackson delivered her opening remarks before the Judiciary Committee. If I am confirmed, I commit to you that I will work productively to support and defend the Constitution. Some Republicans charged that Jackson has

been too lenient in sentencing on criminal matters. Taxis firefighters gained the upper hand over historic wildfires. Is violent weather closed in on urban centers, and residents of Dallas and Austin sought shelter from tornadoes. The largest clusterer blazes that erupted late last week west of Dallas was contained. Global News twenty four hours a day on airrand on Bloomberg Quicktake, powered by more than twenty seven undred journalist and analysts,

are more than h twenty countries. I'm Michael Barr. This is Bloomberg, John Michael, thank you. Coming up on five thirties of All Street top out with the Bluebird Sports up to it. Here's John staff Shower. Thanks John Night. After the Utah Jazz beat the Knicks at the Garden, they went to Brooklyn loss to the Nets one fourteen one those sex is Kevin Durant scored thirty seven points. When the season began, Durant thought he'd be part of

the Big Three. Not the case. James Harden is now in Philadelphia, traded for Ben Simmons who was yet to play for Brooklyn to the back injury, and Tyrie Irving only allowed to play on the road. Katie still hopeful that may change. Frustrated and not being able to play, And you know, you figured this stuff would be rolled back by now and would be way past this. But it's a situation where we gotta do with think he's got to deal with it, and we're, you know, of

trusting that it will get figured out here soon. Except that Irving seems determined not to get the vaccine and city Hall seems dug in on not making an exception of the private sector in person mandate. There are believed to be unvaccinated me and Yankee players. This could affect them to Mets lost the Marlins of Max Serzer, but sharp in five innings. Yankee p the Phillies. Another big name quarterback got traded, Matt Ryan, fourteen years with Atlanta, a four time pro bowler, one time m v P,

sent to Indianapolis for a third round draft pick. The Falcons then signed free agent QB Marcus Mariotta New Orleans, sticking with Jamis Winston. He he signed with the Saints. Kevin Willard leaving Seaton Hall to be the new coach at Maryland. Shaheen Holloway already seen as the favorite to replace Willard. Holloway is a former Seaton Hall player. He's coach St. Peters to the n C Double A Sweet sixteen. As of now, Phil Mickelson is not going to play

the upcoming Masters. He recently said he was taking time off. Nicholson has played in every Master since four. John Stasheward Bloomberg Sports Time Alright, thirty seven on Wall Street. It's time for the Bloomberg Try State Business Report. Here for that, we're joined by ed Query. Brookfield Properties will power its one Manhattan West office skyscraper with renewable energy from up

State New York. Another unit of parent Brookfield Asset Management will provide hydro power for the sixties seven story tower, part of the eight acre Manhattan West project on the borough's far west side. Billionaire Rupert Murdoch is listing a pair of condos in New York for seventy eight million dollars, less than a decade after buying them and conducting an extensive renovation. The News Corps founder is selling his sixty two million dollar triuplex penthouse and a smaller apartment on

a lower floor for sixteen million. New Jersey officials have awarded a million dollars in grants to install electric vehicle charging stations in twenty four tourist areas. The ideas to boost tourism by reassuring visitors with electric vehicles that they can come to a vacation spot in Jersey and not run out of power to get back home. At your Bloomberg Try State Business Report, I'm Ed Corey, Thanks said

he is fine, 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 now with our global news he in four. Some of the top stories heard on our three hundred affiliate radio stations around the world. I'm Steve's Potaskan on Chen Chen Wins in New York. We're talking about Wall Street regulators turning their attention to climate change. I'm corney Daneho on ktr H in Houston.

More than eighty percent of oil workers would consider switching to another energy sector. I'm carried at bildb Gave in Digital Radio and lons Wo reporting on a major boost for the Chancellor ahead of his spring statement as borrowing comes in twenties and billion pounds below four common. I made gory on w J and De Croyd. I'm reporting Rocket Mortgage CEO Jave Farner will buy up a thirty

pig million dollars break of the company's dock. And those are some of the stories are twenty seven hundred Bloomberg journalists and the 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. Judging by state media counts, Chinese President Jijing Ping was more focused on Taiwan than on the Russian invasion of Ukraine when he

spoke with his US counterpart Joe Biden last week. But if g fears US support for what he calls Taiwan independence forces, many American analysts worry about the opposite, that China might be inspired by Russia to seek its own takeover of Taiwan. While the U should prepare for that possibility both militarily and diplomatically, it should also remember that having stable relations with China has been crucial to keeping

the peace across the Taiwan straight. Maintaining that stability will require stronger communications, sustained diplomacy, and a greater investment in crisis management tools. True success will ultimately be measured not by whether the US can win a war over Taiwan, but whether it can prevent one. 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 ope and go on the Bloomberg terminal. This has been Bloomberg Opinion and Bloomberg Opinion Editorial is going to be heard every weekday. At this time, terbol customers could read Moore at Opie, I am go. They head of the cash open on Wallsbury Futures right now in the green down futures up one twenty seven points. This

is Bloomberg. Bloomberg Weather ports at clouds some sunshine, especially north of the city of the high temperature about sixty degrees tomorrow, cloudy over the showers developing during the anterne the high temperature about fifty degrees. Markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business at and at Bloomberg Quick Take. This is a Bloomberg business lash. I'm Nathan Hager. Stocks are climbing.

The sell off in bonds is deepening after Federal Reserve Chairman Jerome Powell said the Fed could raise interest rates by fifty basis points at its next policy meeting if needed to get a handle on inflation. Who checked the markets every fifteen minutes during the trading day on Bloomberg SMP futures right now are up thirteen point, Staff futures up a hundred twenty three nast Deck futures are higher

by forty seven points. The ten your treasury is down fifteen thirty seconds, the yield two point three four percent yield on the two year two point one eight nime X Screwed is down two point two percent, down two dollars forty nine cents at a hundred nine dollars sixty three cents a barrel. Comics Gold is down two tenths per cent, or four dollars thirty cents at nineteen thirty

fifty announced. The euro is at one point one zero zero five against the dollar the end one twenty point seven zero Bitcoin U three point three percent on the session at forty two thousand, five hundred dollars. That's Bloomberg Business Flash. Now here's Michael Barr with more on what's going on around the world. Michael, thank you very much. Nathan. Russia is refocusing it's military campaign in Ukraine on the

east and above all the ports city of Mariopal. Ukraine's president Elodomir's Lensky is describe the assault as a war crime that will be remembered for centuries. A Russian court has found in chroman critic Alexei Novaldi guilty of fraud. Nevaldy has dismissed the case as politically motivated. Develoy, already serving a two and a half year sentence, could face

an additional thirteen years when sentenced. Supreme Court Nominiquatanji Brown Jackson will face Senators questions for the first time as Democrats pushed quickly confirmed the only black female justice in the courts history. In the NBA, the Nets and Celtics won, the Wizards lost. In the NHL, the Bruins beat the Canadians, and overtime three two Global News twenty four hours a day on air and on Bloomberg quick Take, powered by more than twenty seven under journalist and analysts in more

than a d twenty countries. Michael bar this is Bloomberg, John Michael, thank you it. He is five forty nine on Wall Street. We're live from the Bloomberg in Trant and Broke of Studios. President Biden says rushes he is of a hypersonic missile against Ukraine. Is a signed President Vladimir Putin is growing desperate, also warning about new of occasions of cyber attacks. We are joined live now by Joe Matthew, host of Bloomberg sound Bomb, with everything going

on in Washington this morning. Joe, what what exactly is the President saying, and is he preparing us for things to get worse? Evolving intelligence is the term that we heard in the White House briefing room yesterday by the Deputy National Security Advisor for cyber and new Burger, talking about a cyber attack not on Ukraine but on the US.

And this is a little bit of a different wrinkle here, as we've been very concerned about Russia knocking the lights out, taking out computer servers in places like Kiev, and that could still happen, of course, but if Russia is about to do something here in the United States, there are a lot of questions about what our response would be. And in lieu of that, White House has been briefing companies.

We understand the federal government, according to Bloomberg's reporting, is briefed about a hundred companies on this to harden their defenses immediately. And I'll tell you you might be surprised by of the stuff we're talking about here. It's real. It's pretty basic, like double authentication like you might even

have for your own email, encrypting sensitive data. You do get the sense, based on the direction that we're hearing from the White House that a lot of these companies are simply not prepared for something like this to happen. So I should change my passwor from JT one to three. Yeah, the ABC one two three thing. Apparently you're not alone. These are major Fortune five hundred companies playing the same games. And he's also the president commenting about the desperation that

perhaps Vladimir Putina is being backed into a corner. Tell us more about that. Well, you saw the use of this hypersonic missile. Um there may have been a couple of them, in fact that that has been confirmed by the President spoke to the Business round table last night. The idea here is that that we're entering an actual stalemate, which is remarkable considering the fact that Russia thought they

would smoke Ukraine in a matter of days. Uh Now, on the one hand, that sounds like great Ukraine's doing a good job defending itself. But as Stale made in this case, is actually very difficult to conceive getting bogged down World War One style and just continuously bombing civilian areas. That's what the Russian strategy would be, and in doing

it from a greater distance. These hypersonic missiles, much like the cruise missiles that were used before, would suggest that Russia is bogged down on the ground in Ukraine and using longer range, much more destructive weapons to deal with the situation at hand here. This is very concerning, and this is why President Zelenski, It's why the Ukrainian military is begging for help to close the skies as they call it, because these are the actual weapons that are

doing enormous damage inside the country. Are Republicans and Democrats kind of maybe on the same page on the war in Ukraine they are in in terms of not establishing a no fly zone, they get to be mixed up when it comes to providing fighter jets. We talked about

and have been for a couple of weeks now. These jets that Poland offered to Ukraine, and President Zelenski was was almost begging for them a couple of weeks ago, still hasn't happened due to a lot of complicated issues, including the US, you know, being concerned about escalating this conflict. Republicans are now demanding that the White House provide those jets, and some Democrats are too. I will tell you as well that they're working on a sanctions package in the Senate.

The House already passed its version of this to codify what the President called for in removing permanent trade status from Russia. That still has not been done in the Senate. And there kind of chewing on this here to see if it should also include a ban on Russian gas and oil, even though the President has done that already. But we could have a deal there by the end of the week. Okay, the hearing is for Judge Jackson. Are they gonna get the kind of nasty today? Is

this is the day? Yeah? Yesterday was about the formalities and the introductions, and the Republican members of the Judiciary Committee gave us a sense of where they're gonna go here, trying to paint Jackson is soft on crime. They're going to question her rulings on child pornography cases, on defending detainees at Quantanamo Bay. There are twenty two members of the panel. They each get fifty minutes, so this will be a marathon session today and will likely lead into tomorrow.

It is still expected that she will be confirmed, even if it's on party lines. Should make for some good listening. Joe Matthews has Bloomberg Sound on herd weekdays of five pm. Right here on Bloomberg Radio. Nathan Okay, John, thanks for coming up to five fifty four on Wall Street. It's time for our Bloomberg Law Report. Let's get to the legal stories we're watching this morning with Bloomberg's Jeff Llinger. Hops is being sued in the Southern District of New York,

accused of running an unlawful lottery. The company says every pack of its trading cards includes a code that can be used to win a valuable card. The District of New Jersey rule that a suit accusing Geico of underpaying policy holders for total vehicles will move forward as a class action. A feder old judge in Ohio ruled the Defense Department may have retaliated against the work group who had complained about age bias. The agency decided not to

interview the worker for a position in another office. 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. Now, the big legal story we're watching today is day two of the historic confirmation hearings for Judge Katangi Brown Jackson. If confirmed by the Senate Judiciary Committee. She would be the first black woman

to sit on the Supreme Court. Today, the first round of questioning by senators begins at nine am Wall Street Time, and for more, Bloomberg's June Grosso speaks with John Michael's professor at u c l A Law school. The Republicans seem to be ready to attack or as being soft on crime. We heard this from Mitch McConnell last week. You know we're hearing it again in the Republicans opening statements.

There are some schirlets attacks have been raised against her that have framed her as being sympathetic or enabling a pedophilia, or being soft on terrorism. Those are claims that are incredibly biting when they turn into sound bite, but have very little context or against substantiation behind them. So I find it deeply troubling the way in which it's been

kind of martial or weaponized in this fashion. I will say that that the fact that Judge Jackson served as a federal public defenders should be considered as a real virtue for a court that hasn't had someone who has that professional experience, that life experience in quite a long time, in decades in fact, so the idea that the court should have a breath of legal and professional experience that informs their work strikes me as an unalloyed good, and

the notion of being soft or hard on crime without context is really just an attempt to undermine her credibility. The suggested she's somehow not a responsible member of the legal community, which again has no substantiation. Are you fairly

confident that unless something unexpected happens, she'll be confirmed? I would like to say I'm pretty confident, because I'm enthusiastic about her candidacy, But I think I've measured in my optimism only because we have a long process to go, and it seems like there is not a lot of bipartisan support, that there's a lot of extra votes lying around for Judge Jackson to pick up, and this may turn into a vote where the Vice President has to break the tie, and so it's hard to tell at

this point. Republicans don't seem particularly enthusiastic, notwithstanding that many of them have voted to confirm her for other positions of incredible influence and trust. That's u c l A Law professor John Michael, speaking with Bloomberg's June Gronzo. You can catch more of that interview plus analysis of the latest legal news by listening to the Bloomberg Lawn Show at ten pm Eastern Time, or by subscribing to the Bloomberg Law Podcast. And attorneys can find exceptional legal research

and business development tools at Bloomberg Law dot com. Checking futures ahead of the market open on this Tuesday morning, they are moving higher, with SMP futures up fourteen point, Style features up a hundred thirty five, Nasdaq futures up

forty six points. The tenure Treasury is down fifteen thirty seconds, the yield two point three four percent, yield on the two year right now two point one eight percent, and i'm x crewed down two point two percent, down two dollars forty nine cents at a hundred nine sixty three a barrel call mex s goll down two tenths per cent or four dollars ten cents at nineteen thirty seventy and ounce the euro one point one I'm sorry one point zero nine nine six now against the dollar. Bloomberg

Day Break continues. This is Bloomberg, Good Morning,