Bloomberg Daybreak: March 23, 2022 - Hour 1 (Radio)

New York City may lift rules requiring face masks for children under five, plus, a deadly tornado cuts a destructive path through New Orleans. I'm Michael barn Ahead, I'm John Stash, Aaron Sports, a loss for the Nicks, the win for the Alanders, the Devils beat the Rangers, and the top

women's tennis player in the world is retiring. That's all straight Ahead on Bloomberg day Break on Bloomberg Elementoro, New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x M one nineteen and around the world Old on Bloomberg Radio dot Com and via The Bloomberg Business That good morning. I'm John Tucker. I'm Nathan Hagar futures are moving a bit lower this morning. We're coming up to five oh one on Wall Street.

We check the markets every fifteen minutes during the trading day. On bloomberg SMB futures are down almost six points, Stout futures down forty four, Nastack futures lower by twenty points. The tenure treasury is up three thirty seconds. The yield two point three six percent heel than the two year two point one four nime X screwed up eight tenths per cent, or eighty five cents at a hundred ten

dollars fifteen cents a barrel. John Nathan will have more in the markets in a minute, but first, the latest on the war. Ukraine's President Vladimir Zelinski says about one hundred thousand people remain in the besieged city of Meropol. There without food, water, in medicine, and are under constant bombardment. Meantime, President Biden heads to Europe to rally around tougher sanctions

on Russia. More from Bloomberg's, said Baxter. National security advisor Jake Sullivan says the Biden trip this way will firm the plans he will join our partners in imposing further sanctions on Russia and tightening the existing sanctions to crack down on evasion and to ensure robust enforcement. And reports are that the Biden administration is preparing sanctions on most members of Russia's State Duma, the lower house of parliament,

more than three hundred. They will be coordinated with the EU. In San Francisco, I'm at Baxter Bloomberg Daybreak. All right, ed, thanks, another major story where following brings us back to Capitol Hill, where it will be day three of Judge Katangi Brown Jackson's Supreme Court hearing before the Senate Judiciary Committee. Yesterday marked her first chance to field questions from senators. Amy

Morris has details from our Bloomberg newsroom in Washington. Republican Senator Marsha Blackburn pressed Jackson on abortion and whether she would respect the Supreme Court's ruling and the event that the Court effectively guts rov Wade. Senator, whatever the Supreme Court decides in Dobbs will be the president of the Supreme Court, and I commit to treating it as say would any other president. Republican Senator Tom Cotton pressed Jackson

on policing and the role of law enforcement. I asked the simple either or question, the United States need more or fewer police? Senator, The determination about whether there should be more or fewer police is a policy decision by another branch of government. It is not something that judges have control over. More questioning by senators is set for today in Washington. I'm anymore as Bloomberg daybreak and thanks Tommy, we turned from Washington to China. Now the latest details

on the deadly plane crash this week. The China Eastern jet that crashed Monday was traveling close to the speed of sound just moments before it plunged into a hillside. Let's get more from Bloomberg Stephen Angle in Hong Kong.

When the airplane is traveling at that speed, crashing into the ground, it obliterates everything, including potentially the flight and voice data recorders, the so called black boxes, which are actually of course orange, and those have not yet been found and that will be critical, of course to determining what exactly caused this mystery crash. Bloomberg Steven Angle reports all one two people on board the China Eastern jet

died in the crash. We'll back here in the U S John For markets, it is all about the Fed. Central Bank officials are joining j Powell's hawk ish call on interest rates. Cleveland FED President Laretta Mester says more than a quarter point hike maybe needed. I don't think fifty basis points should be off the table. You know, my fung ate passes a little steeper than the median path, So if you do the math, you know, um, I think we're gonna probably need to move some some of

those means. Mester joined St. Louis FED President Jim Bullard in calling for Quaker tightening. Bullard tells Bloomberg faster is better when it comes to rate hikes. What you have to do is move the policy rate up discreetly a fair amount, not to be too disrupt him, but I think fifty basis point moves will definitely be in the mix, and then get to a level that we can be neutral, and then from there we can decide if we want to be restrictive and put further downward pressure on inflation.

Then Jim Bowler's reiterating his call for interest rates to go above three percent this year's Stay tuned for more from the Fed today. Will speak live with San Francisco President Mary Daily. That's coming up at eleven thirty am Wall Street Time on Bloomberg Radio and Television. Nasing the prospect of higher rates taking a toll on the bomb market. The Bloomberg Global Aggregate Index that's a benchmark for government and corporate debt total returns has fallen eleven percent from

its high in January last year. That's the biggest decline from a peak in data. Stretching back to it equates to a drop in the index market value of about two point six trillion dollars. And when it comes to sucks John, now is not the time to buy. That's according to Muhammad al Aria, the Bloomberg opinion columnist and chief economic advisor at Alliance, says investors need to pair

their holdings. If I'm investing over the next twelve month horizon, I would whose equities at this point, I would take some money off the table. I think the market is given you a wonderful opportunity to come out. Muhammad Hlarian says equity markets have yet to factor in what's to come for the economy, and speaking of the economy, with fresh data on wages this morning, a new studies shows a lot of Americans are still seeing pay below fifteen

dollars an hour. Bloombergs rending Young joins US Live with details. Good morning, Nita, Good morning John. A report from Oxfam America finds one in three U. S workers is still making less than fifteen dollars an hour, and the share of women and people of color earning that amount is even greater. The report helps quantify how Americans could be impacted by the Raise the Wage Act, which would set a fifteen dollar federal minimum wage. The legislation is still

pending in Congress now. While pcent of men earned less than fifteen dollars an hour, the figure is forty for women and fifty percent for women who are working of color. Live in New York. I'm Renita Young, Bloomberg Day Break. All right, we're renieda, thanks very much, and ahead of the CASHO on the Wall Street futures this morning, they're lower than our futures, down forty two points. That's a

decline of about a tenth of a percent. Smp E many futures six points lower, and the NANSAC futures right now they are down twenty points. You're listening to Bloomberg Daybreak pan's five o seven on Wall Street. Let's bring in Michael Barne now with more on what else is going on in New York and around the world. John, thank you very much. New York City Mayor Eric Adams is preparing to lift requirements that children under the age

of five where face masks in schools. We're announcing that if the numbers continue to show a low level of risks. Let me see that again. If the numbers continue to show a low level of risk, mask would be optional for two to four years old students in schools and in daycare. Adam says it will start April fourth, if case rates and the risk of the virus spreading remain low.

Adams two weeks ago lifted several pandemic related rules, including requirements in place since the start of the pandemic that students five and older to wear masks in school. A new federal lawsuit accuses the NYPD of taking and storing DNA as part of an illegal and unregulated database. The lawsuit accuses the department of turning tens of thousands of people into quote, permanent criminal suspects. It happens when someone is arrested or brought in for questioning, and eats, drinks,

or smokes while on the premises. The NYPD admits it collects DNA in this way, but says it is within the law. A large, destructive tornado struck the east side of New Orleans last night. St. Bernard Parish President Guy McGinnis says the damage is widespread. All that was lifted office foundation and put it to the lower street right around a colony. Parish President Guy McGinnis says at least

one person was killed. The twister was part of an outbreak of severe thunderstorms across the Deep South and follow a siege of tornadoes and Texas. On Monday, Hillary Clinton tested positive for COVID nineteen and has some mild cold symptoms. According to a tweet, the former Secretary of State and former presidential candidate says she feels fine. Meanwhile, White House Press Secretary Jen Saki tested positive for COVID nineteen and will no longer travel with President Joe Biden to Europe.

Zaki says she is experiencing only my old symptoms and will isolate for five days. Biden tested negative. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analyst in more than one hundred twenty countries. I'm Michael mar this is Bloomberg, John and some breaking news crossing the Bloomberg the Shinwall News Agency, and Shanna says the China Eastern Plains one black box has now been located. Details

straight ahead, Michael, Thank you very much. Five ten Street tied out for the Bloomberg Sports Update Shower. Thanks John. The Knicks last season finished fourth in the East. This year they are twelfth, and any faint hopes of sneaking in the playoffs may have ended with the home loss to Atlanta, won seventeen to one. Eleven left the Knicks sixteens out, only ten to play. Trey Young lead the Hawks.

Scored forty five points. Are j Barrett head thirty for the Knicks in Newark nightmare second period for the Rangers, Devil's wonted five nothing, scored all five in a thirteen minutes fan they won seven to four. Islanders won three nothing over Ottawa. Ash Party is the best women's CENIS player in the world, ranked number one. She just won Wimbledon, and the native Asse captured the Australian Open, but she's

been tiring. At age twenty five, she's the anti Tom Brandy Barty says she no longer has the physical drive or the emotional wants. She's getting married. She says she's set to enjoy the next phase of her life. Baseball's opening day two weeks from tomorrow, Yankees hosts the Red Sox. Right now, the question is whether unvaccinate and Yankees will be allowed to play or will it be a Kyrie Irving situation. Not allowed to play home games due to

the city's private employer mandate for in person work. May Or Adams said yesterday they may peel it back slowly, but that most businesses like the mandate. There's Yankee manager Aaron Boone. I still think there's a lot up in the air and a lot left to play out, and

and we'll just see. But no, we haven't had a big group discussion on these kind of things, where again, um, I feel like Randy's on top of that and and that, and well, we'll see where it goes, and when it comes to time that we have to address it, we will. Boon reference Yankee president Randy Levine, who used to work in city Hall. Not known how many or which Yankees are unbacked. John Stash downward Bloomberg's voice, John, all right, John, thanks a lot ahead of the cash open the ball streets.

Look at futures. They are in the red right now just slightly. You beat down futures down thirty nine points. That's a drop of a tenth of a percent. Smpe Mini futures five points slower. That's down the tenth of represent and that how does that key many futures right now?

Twenty three? That is down troops. This is Bloomberg and the Bloomberg weatherports that I thickened in cloud showers arriving before evening, the high temperature to fifty tonight rain likely tomorrow occasional rain be high temperature to give a bid fifties. This is Bloomberg Markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. He's he's a Bloomberg

Business Flash. I'm Nathan Hagar. Futures are moving a touch lower this morning, while global equity markets climb, investors are expanding their search for hedges. As the FEDS strengthened resolved to clamp down, an inflation drove bonds towards record losses. We check the markets every fifteen minutes during the trading day on Bloomberg. Right now, SMP futures are down five points down, futures are down thirty five. NASTAC futures are

lower by twin t seven points. The docks in Germany and the CAC in Paris both up two tenths of one percent. The tenure Treasury is up four thirty seconds. The yield two point three six percent yield on the two year two point one four percent. Nime X screwed is up nine tenths per cent, up ninety eight cents at a hundred ten dollars twenty five cents of arrol come X golds up three tenths per center, five dollars

thirty cents at nineteen thirty two. Even announced the euro one point one zero one six against the dollar, the pound one point three two three five. The end is at one point nine four. At seven am all street time, we get NBA mortgage applications than at ten. It's February new home sales Sintas and General Mills are among companies scheduled to report earnings today. That's a Bloomberg Business Flash and now here's Michael Barrt with more on what's going

on around the world. Good morning Michael, Good morning Nathan. There's breaking news. According to the Shenhua News agency, one black box has been located in the crash of a China Eastern plane with one hundred thirty two people on board. President Joe Biden's trip to Europe comes at a critical moment for the war and you Krane, which could become a bloody stalemate as Russia pummels cities with air striants and artillery. Biden departs today on a four day trip.

He will meet with allies during a long day of meetings in Brussels tomorrow. NATO and the European Union and the Group of Seven Nations are all holding summits that day. Biden on Friday a schedule to continue on to Poland. In the NBA, the Knickson Warriors lost in the NHL. The Devil's beat the Rangers seven four, The Islanders won

the Capitol's lost. Global News twenty four hours a day on air and on Bloomberg Quick Tank powered by more than twenty seven under journalist and analyst more than twenty countries. Michael bar this is Bloomberg, John, Michael, thank you. Find twenty on the all streetwear line for the Bloomberg interrant

to Brokers Studios. And this is Bloomberg Daybreak. This pretty big week on the diplomatic front as President Biden trous the Europe for Thursday's NATO meeting and the Ukraine's President Vladimir z Alinski he's gonna take part of via video for more, let's uh join with the professor Julie Norman of University College in London. Professor, thanks billiam with us. Hey, my first question is the resolve against Russia as strong

and united as it appears to be on the surface. Well, John, that's certainly the image that the US and NATO allies are hoping to project this week. It's notable that they're having an in person meeting and in person meeting with heads of state in particular. One of the priorities for the Biden administration from the beginning of this crisis has been to project this sense of unity among allies that was before the invasion started. Throughout and then up through today,

So one of the goals of this meeting. They will obviously be discussing substantive things as well, but it is just to project the sense of unity that the heads of state are coming together and are united. With that said, there are of course some disagreements among them which they will be discussing, including the types of military aid, the types of sanctions to continue um and how things may

or may not escalate after this. So uh so there'll be a lot to discuss, but they're hoping that this meeting will at least send a message of a united front continuing. Is NATO strong at this point, Well, what we've seen obviously throughout this crisis that it's probably strength and NATO more than anything else has in recent decades. Obviously,

there's going to be some disagreements among members. Many of the Eastern and Central European states would like an even more robust response to the crisis in Ukraine, additional types of military aid, including different kinds of fighter jets, even a no fly zone that Western Europeans in the US are not fully on board with. So some of those

things will be discussed. But with that said, the way that the Alliance has come together wholeheartedly around sanctions, around just the idea of military aid more broadly, uh, and just just drowing up NATO itself. Throughout all this has probably strengthened the Alliance more than than anything else that we would have seen. You know, a potential Russian oil embargo that does raise the question of whether Europe can wean itself off Russian energy. Um, just how important is

that front? Well, this is something that the Biden administration will probably raise, So the US and also Channons some other states have you know, have have put the sanctions on Russian oil. But that's a little bit easier for states in North American elsewhere to do than it is for Europe, and especially states like Germany and even Italy that are quite dependent on Russian oil. They have committed to reducing that dependence by two thirds by the end

of the year. But I think we'll see a bit more pressing on what that actually means and if there can be some other steps that can be taken, perhaps sanctioning gas promers in the specific Russian companies and providers that are quite central in this industry. What else stands

out for you? What are you particularly focused on right now. Well, I think what we'll also hear what NATO will discuss behind closed doors, and which we may not get many details on, is that you know what their potential response would be if Prutin does turn to use chemical weapons or what are sometimes called tactical nuclear weapons, so those

that are kind of designed for battle field used. I think those steps would be unlikely still by Putin, but we know that there are possibilities, and that is something that the Biden administration really wants to make sure allies

are on the same page with how they would respond. Again, Biden really does not want this conflict to escalate and to engage the US in particular or NATO, but a crossing of a kind of redline like something like that would probably warrant some kind of response, and NATO is going to have to try and figure out what that

might be. One of the things that came out after the Cuban missile crisis in terms of nuclear weapons being used is that it was the tactical commanders on the ground there at the front in Cuba, the Soviet advisors who would have to say over that um. It just raises the specter of like things could get really complicated and really really dangerous very quickly. Absolutely, and that's obviously what the Biden administration NATO has been trying to avoid.

That's one reason why they've been very clear in their messaging, uh something maybe to a fall alt in terms of making it very clear to Putin that they don't want to escalate this to any kind of level that would involve nuclear weapons. Uh. In my opinion, I think they're right to kind of air on that. We don't want to see it get to that point. And as you noted, with Russia right now, it's tricky. Even some of Putin's own military advisors who earlier and currently have spoken out

against the kind of the strategies that he has employed. UM, I've been somewhat sidelined by Puttin himself, and it's uh, it's uncertain how much of a of a rationality we can expect from him at this point. Always a pleasure, professor, Thank you very much, Julie Norman, University College in London And ahead of the cashop on Wall Street. Look at futures this morning, kind of treading water down. Futures down

just fifty four points and SMP immunate futures. They are seven points lower right now, and the nsday futures down twenty eight. Real action taking place in the Moon market's treasuries right now. The tenure yield UH seeing a decline of about one basis point right now at two point three six percent. You're listening to Bloomberg Daybreak Bloomberg Weather from meteorologist Rob Carol affechtning. Cloud showers will be here

before evening today. The high temperature fifty be on Bloomberg tomorrow. Occasional rain high fifty to fifty five degrees croadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg Living Freedon to Washington, d C. Bloomberg to Boston, Bloomberg one o six one, does San Francisco, Bloomberg No. Sixty to the Country, Sirius XM chto one ninet and around the globe the Bloomberg Business apt and Bloomberg Radio dot Com.

This is Bloomberg Daybreak. It's five thirty on Wall Street. Good morning, I'm John Tucker, Anna Nathan Hagar. We're just about four hours away from the open of US trading. Let's get you up to date. On the news. You need to know at this hour, President Biden is heading to your to rally allies around tougher sanctions on Russia for its invasion of Ukraine. We get the latest from Bloomberg senior reporter Mark Champion. What they are trying to do is to get ahead of what they know will

be a continuing issue with Russia over Ukraine. So try and get ahead on issues like how do we make sure that the sanctions take real effect, how do we resolve at differences of that have to deal with energy, stick to the oil. Bloomberg's Mark Champion says President Biden will join back to back summits, first with NATO members in Brussels, then the Group of Seven and European Union.

Meantime on Capitol Hill, Stay three of Judge Gatanji Brown Jackson Supreme Court hearing before the Senate Judiciary Committee yesterday marked her first chance to field questions from Congress and defend her record. My record demonstrates that I am not proceeding from any sort of preconceived notion about how a case comes out. Jackson pays questions from Republicans about her religion, critical race theory, child pornography and abortion. I'm not ruling

consistent with any sort of ideology. I'm doing what impartial and fair judges do, which is to decide in every case based only on the facts and the law. Jackson returns to Capitol Hill for more questioning today. All right, turning to markets now, John, Global bonds remain under heavy pressure. The Bloomberg Global Aggregate Index, the benchmark for government in corporate debt total returns, has fallen eleven percent from a

high in January last year. That is the biggest decline from a peak in data, stretching back to with the bond market and focus, tune in today for more from the Fed. We speak live this morning with San Francisco President Mary Daily. Catch that eleven thirty a m. Wall Street Time. I meantime, A new study shows many Americans are still seeing wages below fifteen dollars an hour. Bloomberg Grinida Young joins us live with the details. Good morning Granita,

Good morning Nathan. A report from Oxfam America finds one in three U. S workers is still making less than fifteen dollars an hour, and the share of women and people of color earning that amount is even greater. The report helps quantify the impact from the Raise the Wage Act, which would set a fifteen dollar federal minimum wage. The legislation is still pending in Congress. Live in New York. I'm gonna need a young Bloomberg day break, need to

thanks SMP futures down down eleven points. Style futures down seventy eight. Nastaic futures are lower by forty three points. The tenure treasury is up five thirty seconds. The yield two point three six Straight ahead, your like thisst local headlines and sports. This is Bloomberg and its thirty three on Wall Street. Let's bring in Michael barn Now with more on what else is going in New York and

around the world. Jehn, Thank you very much, Sarah. New York City Mayor Eric Adams is preparing to lift requirements that children under the age of five ware face masks in schools. Adams says that he will make masks optional for those in daycare and pre kinder are starting April fourth, if case rates and the risk of the virus spreading remain low. And let me tell you something, it doesn't

matter what decisions you make on this. You're going to have voiciferous people on both sides of the conversations, and so we we can't go by the noise. We have to go by the science, and we have to go by the safety about children. Two weeks ago, Mayor Adams lifted several pandemic related rules, including requirements in place since the start of the pandemic that students five and older

wear masks in school. At least one person is dead after a tornado tour through parts of New Orleans and its suburbs last night, flipping cars and ripping roofs off homes. Parts of St. Bernard Parish, which borders New Orleans to the southeast, appeared to take the brunt of the twister. Louis Pomas is the St. Bernard Parish road Yard Chief of operations and didn't walk through all every street ever

damage that we road Yard Chief Louis Thomas. The damage comes after other tornadoes spawned by the same storrom system hit parts of Texas and Oklahoma. White House Press Secretary Jensaki has tested positive again for COVID Szaki says she will no longer travel with the President, Joe Biden to Europe. The President has tested negative. Hillary Clinton says she has tested positive for COVID nineteen. In a tweet, Clinton says she has some mild cold symptoms but is feeling fine.

A tele beneficial says the hard lined leadership of Afghanistan's new rulers has decided against opening educational institutions the girls beyond grade six. It is the first day of Afghanistan's new school year. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts in more than a hundred twenty countries. I'm Michael bar This is Bloomberg, John, Michael, thank you, coming up on five thirty six on Wall Street.

Time now for the Bloomberg Sports up to and here's all right, John. Last season ended for the Knicks for a loss at the Garden to the Tree Young lad Atlanta Hawks. Last night, Young was back scored forty five points led Atlanta to a one seventeen one eleven victory that, like the end of the Knicks already faint playoff hopes.

R J. Barrett scored thirty. Knicks were without the injured Julius Randall got find forty thousand dollars for using hostile language towards a ref As if Randall's season hasn't gone poorly enough, He's now been fined a total of a hundred thirty thousand dollars. Rangers in New Jersey led to nothing second period and the Devil's scored five goals in thirteen minutes. Jack Us added two more in the third. Devil's won seven four Islanders three nothing shut out of Ottawa.

N i T win for Xavior and St. Bonaventure. Book will come to the Garden next week for the n i T Final four and Port St. Lucy mets over the Marlins to nothing. Welcome back Jacob de Graham. He got six outs, five by strikeout to Graham's brilliant one season came to an end in early July. Jordan Montgomery roughed up Toronto beat the Yankees ninety two. Phase Squall

is bringing back the ghost Runner. Extra innings will again begin with the run of at second base the phill It is with a shortened spring training is for the best not to have extra long games are also expanding the rosters. In April, stunning news from tennis world number one Ash Party announced her retirement. Don't have that in MUNI. I don't have the the physical drive, the emotional um want and and kind of everything it takes to to challenge yourself at the very top of the level anymore.

And I think I just know that I'm absolutely I am spent um. I just know physically I have nothing more to cuts only twenty five. She did step away from tennis once before. John Stashower, Bloomberg Sports. John, all right, thanks John. Five seven on Wall Street Time now for the Trying State Business report. For that, we're joined by Bloomberg's Quarry. Last month, four thousand and seventy eight homes were listed for sale across New York City, according to

street Easy. That's the most ever recorded in February by the company. The previous high with three thousand, five hundred thirty eight and February sixteen thousand, six hundred twenty New York City homes were for sale in February. Manhattan apartment rentals are booming and sales are reaching record levels, but offices in Midtown are attracting barely one third of pre

pandemic workforces. Chris Jones, Senior Research fellow at the Regional Plan Association tells the Wall Street Journal Midtown is going to have to reinvent itself. The proposed Gateway rail tunnel between New York and New Jersey is expected to compete for some of the two point nine billion dollars in grants that the Biden administration is making available for projects of regional or national significance. That's according to Transportation Secretary

Pete Buddha j Edge. That your Bloomberg Try State Business Report. I'm Ed Corey's five thirty eight on Wall Street. Bloomberg Radio is on the air from San Francisco to New York, London to Hong Kong. Let's check in now whether Global News team for some of the top stories heard on our three hundred of Filigate radio stations around the world. I'm Steve Poto Scan on ten ten Wins in New York. We're talking about how the pandemic surgeon tipping looks to

be slowing down. Um Corney Datahoe on khr H in Houston. One in three American workers earns less than fifteen dollars an hour. I'm Gina Servettian for w BBM in Chicago. I'm reporting that FDA inspectors found on sanitary conditions at an Abbot Labs plant that makes infant formula, five months before the company conducted a recall of products associated with the deaths of two babies. I'm Caroline had come bloom

Bag Dad additional radio in London. We're reporting on a thirty year high for UK inflation as the Chancellor announces his mini budget in the spring statement. I'm dcoring on w w J and Detroit. I'm reporting shares of auto makers fell on Monday on supply chain here and those are some of the stories are twenties seven hundred Bloomberg journalist 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 of opinion. Russia's invasion of Ukraine has reminded the US and Europe that their alliance matters. Their united response to the war should alert them to something else. That resilience depends on economic cooperation, not just security commitments. In that light, reviving installed talks on a

free trade agreement is more urgent than ever. Negotiations over the Transatlantic Trade and Investment Partnership, which could have led to a fully formed US EU free trade area were halted during the Trump administration. With President Biden traveling to Europe this week, the time may be right to restart discussions. The Allies have a crisis to manage, of course, so

commerce won't be at the front of anyone's mind. But Putent's war has shown just how crucial it is for the U. S And Europe to have strong partnerships that means cooperating on trade as well as security. 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 editorials can be heard every weekday at this time, and terminal customers can read more at OPE. I am go. You're listening to Bloomberg tape. Right and ahead of the open on Wall Street this morning, futures indicate a lower open down. Futures down to eighty few points, smp E Mini futures

thirteen points lower. The Men's and futures are down fifty three markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business and at Bloomberg Quick Tape. This is a Bloomberg Business Flash. I'm Nathan Hagar. Global equity markets are mixed this morning. Investors are expanding their search for hedges as the federal reserves strength resolved to clamp down. An inflation has driven bonds

towards record losses. We checked the markets every fifteen minutes during the trading day on Bloomberg. Right now, SMP futures are down sixteen points, Stown futures down a hundred three nest Deck futures lower by sixty eight points. That's a drop of nearly a half percent. The tenure Treasury is up seven thirty seconds. The yield two point three five percent yield on the two year two point one two percent.

NIMEX screwed is up one percent of a dollar ninety one at a hundred eleven dollars eighteen cents of barrel comex scold up four tenths percent of eight dollars forty cents at nineteen thirty five ten and ounce. The euro is at one point zero nine nine four against the dollar, British pound one point three to two four. The end is at one twenty point nine seven. Quick check a bitcoin, it's down one and a quarter percent on the session, trading right around forty two thou dollars. That's a Bloomberg

business flash. And now here's Michael Barr with more on what's going on around the world. Michael Nathan, thank you very much. China says one of two black boxes from the China Eastern plane crash was found in severely damaged condition. One thirty two people were killed in the plane crash. President Joe Biden is seeking to rally US allies around

harder hitting sanctions to punish Russia for invading Ukraine. Biden leaves today for back to back summits Thursday with NATO, the Group of Seven, and the European Union in Brussels, and the NBA the Knicks and Warriors lost Devils beat the Rangers seven for in the NHL Global News twenty four hours a day on here and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists analysts in more than a hundred twenty countries. Now, Michael Barr, this

is Bloomberg. John Michael, thank you, five forty nine on Wall Street. I'm John Sucker. This is Bloomberg Day Preak. The war in Ukraine has sparked a refugee crisis in Poland. Millions have fled Ukraine and are flooding into cities like Warsaw. It's an impossible situation for a lot of these refugees. It's also closing stress on these cities and towns of Poland, and now the mayor of Warsaw's warning the city's reaching

a breaking point. Let's got a closer look at the situation right now, the special report from Bloomberg's Gregg Jarrett. We have Bloomberg reporters on the ground as the ever increasing flow of refugees stream into Poland, among them agg control. Poland is now looking at integrating these people into the labor pols, into the education system, and once they're here,

it's important to see where they can go next. There's already a huge amount of people who have moved to Warsaw and to other European countries, and that's a key concern for the European Union going forward. After getting these people over the border, how they're able to find places to live and work more securely. There are many non

governmental organizations also trying to help captain oleg somewhere. Linco of the Salvation Army and Warsaw is welcoming thousands, providing them with food, shelter, emotional and spiritual care, translation services and useful references for medical and legal advice. Is the closest country for them, and the language is almost the same. It's very similar, so we understand each other. For them,

like Poland will be the main destination. And I think many years Poland was the country where Ukrainians would come to work. So many of them would already have somebody in Poland, like parts of family, daughter, mother, somebody who will work here, like for years. Some of them they standing in the in the cars to the border, and all one lady who has spent like five days sitting in the car, was a child patting on the queue

to get to the border. What are conditions like today or as the number of people who are crowding in the poem from Ukraine increases exponentially, they say around one million and house now in the war, so we're think it's even more, you know, like our cities in Poland are not published you know, so these conditions are not the best one now, so people are stepping in a

different shelters organized by government. They try to find a apartment, but it's very difficult now to rent apartment because people who rented apartments before two people who know that, they say like, well, we are afraid that in one apartment will leave like twenty people. So nobody wants to rent Ukrainian people because they're afraid that they will bring more

Ukrainians to the apartment. I understand that most of Europe and most of the places these Ukrainian refugees are going are in hopes of integrating the population so they can go to work, so they can support themselves, so they can pay for things themselves. Are there some people that's

more difficult for than others. I have people who are lawyers, doctors, teachers, you know, people who work on a really nice positions in Ukraine, but here because of lack of language, you know, they go to work like a cleaner, you know, they go to work in a restaurant for the kitchen in

all like a helper. So they're really on a low position. Now, yeah, I think it will be more difficult for senior people it's always difficult to get any job for senior people even in normal days, if they are like black people. I would say, you know that if people are not Ukrainian white people in Poland, it could be this problem because Poland is a country over white country. So for many people they will be a little bit afraid, you know, they need the time until they will know you better.

So and that's why in Solational Army we're actually trying to help them and we connect them with other people from Africa or Asia who live already here in Poland. What does the Salvation Army need to do its job in helping these people from Ukraine who are just trying to get out of the war's way. Sure, sure, of course without any help, you know, it would be very difficult for us. So we're really grateful for actually all donations were getting, you know, all requests to help us

we're getting. But I think it would be amazing if people would like to help. So the contact you know, Sovational Army in the USA. Our thanks to Captain Oleg Samolenko of the Salvation Army in warsaw so Alenko says those wishing to help can find more information at Salvation Army U s A dot org. Continue to listen to Bloomberg Radio for the latest on the war in Ukraine and the humanitarian cost. I'm Greg jarre It Bloomberg Radio. All right, Greg, thank you. It's now five fifty three

on Wall Street. Time. Now for a Bloomberg Law report. Let's get to the legal stories we're watching this morning. Here's Bloomberg's Jeff Balinger. California Governor Gavin Usom signed a bill that outlaws insurance deductibles and co pays for abortions. The law takes effect January one. A conservation group told an Arizona federal court that the e PA's water quality policies don't do enough to protect salmon sea turtles and

other species from cadmium pollution. Noble nor Disc and nov Artist settled a patent infringement suit over the diabetes drug Victosa. The suit was scheduled for a bench trial and Delaware Federal court next month. 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. And now, another legal story we're watching is on Russia's

invasion of Ukraine. Repeated attacks on civilian targets have led to calls to hold President Vladimir Putin and his subordinates accountable. The International Criminal Court has opened an investigation into war crimes in Ukraine. However, it's far from certain that Putin will be brought to justice under international law. For more on the matter, Bloomberg's June Grosso speaks to Kate McIntosh, executive director of the Promise Institute for Human Rights at u c L A school of law. What has to

be proven to prosecute someone like Vladimir Putin? Do you have to show that his actions were intentional? What has to be shown you do? And I think that is the reason for the slight hesitancy in declaring that he is a war criminal before any proper investigation has taken place, and just based on reports of what we've seen occurring

actually on the ground. Because intentionally directing military attacks against the civilian population or civilian targets like hospitals or the art school that we saw recently, or a museum, that would be a war crime. But the fact that these targets are hit during a conflict does not necessarily mean they were intentionally targeted, so it would be possible, I mean, frankly, this seems unlikely in the kind of situation we've seen

reported in Ukraine. It would be possible for a legitimate target to be targeted and for there to be incidental or what we often hear of referred to as collateral damage, which actually wouldn't be a war crime as long as it wasn't completely out of whack, you know, completely disproportionate.

So I think that's the hesitancy. So in order to find Laodim Recruiting or anybody else guilty of a war crime, it would have to be established that they intended, directed, or gave orders to the effect that something like civilians should be targeted, hospitals should be targeted, and Mariople actually is another example, because besieging a city or trying to inflict starvation on a civilian population is another war crime. So where that can be tied back to specific orders

and direction, then a war crime is proved. That sounds like you would need someone on the inside who Putin is giving orders to, or who overheard what Putin was saying. It could come down to that. I mean, I've worked at the Yugoslavia War trans cribunial and also the Rwanda tribunals. So I've seen these cases, and in some cases it did rely on intercept or inside a witnesses to establish a chain of command. But the threshold is not necessarily

that high. There's also legally a possibility that intention can be inferred, right if it's so obvious from the situation that there's no way anything else, any other intention could

be inferred than that that instruction had been given. So, for example, if there is an attack on a hospital and there's nothing in the vicinity that could be in a legitimate military objective, there's no allegation that the hospital was being used as some kind of military headquarters, then we can infer that there was a deliberate intention to attack that hospital. Let's kid Nacontage, executive director of the Promise Institute for Human Rights and u c l A

School Law, speaking with Bloomberg's June Grosso. Catch more of that interview, plus analysis of the latest legal news, by listening to the Bloomberg Law Show at ten pm Eastern Time on Bloomberg Radio or subscribing to the Bloomberg Law Podcast. And attorneys can find exceptional legal research and business development tools at Bloomberg Law dot com. Right now, SMP futures are extending their declines, down sixteen points down to how futures down A hundred four dance deck futures are lower

by sixty three points. The Tenure Treasury is up seven thirty seconds yield two point three five percent, yield on the two year two point one one percent. Nime X screwed is up one and three quarters percent now, but dollar ninety at a hundred eleven dollars seventeen cents announced. Bloomberg Day Break continues with our top stories just ahead. This is Bloomberg. Good morning,